BOSTON--(BUSINESS WIRE)--#DigitalTransformation--The world can accelerate urgent climate action and halve carbon dioxide (CO2) emissions by 2030, according to Schneider Electric, the leader in the digital transformation of energy management and automation, recognized as the World’s Most Sustainable Corporation in 2021 by Corporate Knights. Kicking off the Innovation Summit World Tour 2021, Schneider Electric Chairman and CEO Jean-Pascal Tricoire’s keynote advocates achievable pathways to net zero set out in the “The 2030 imperative: A race against time” report from the Schneider Electric Sustainability Research Institute.
Schneider Electric’s flagship annual Innovation Summit World Tour (October 12-November 12) will address global climate challenges and guide customers, partners, regulators, and policymakers on rapidly reducing emissions to decarbonize the world’s economy in this decisive decade. Attendees will experience Schneider Electric’s digital and sustainable innovation and learn more about Electricity 4.0 and Next-generation automation.
Urgent need to act fast to decarbonize
Tricoire’s Innovation Summit World Tour keynote urges attendees to adopt critical decarbonization measures and offers Schneider Electric’s own research as a blueprint to stay within a global warming trajectory of 1.5°C degrees. This report details the need to reduce emissions by 30-50 percent this decade, compared to current levels. Missing this makes it virtually impossible to limit temperature rise to a 1.5°C degree threshold as outlined by the Intergovernmental Panel for Climate Change (IPCC).
The Schneider Electric Sustainability Research Institute modelling shows how 10GtCO2/y can be realistically and affordably abated by 2030. The report focused on a subset of global greenhouse gas emissions. Out of 50GtCO2e/y, “The 2030 Imperative” scenario finds a 30% (10GtCO2e/y) abatement opportunity from a 30GtCO2/y baseline of all energy-related emissions, a significant acceleration from current pledges (ranging around 3GtCO2e/y, which is 10% of the emissions reduction target). There remains however around 20GtCO2e/y of non-energy related emissions which is not covered in this report's modelling.
Schneider Electric is calling for a 3-5 times greater effort from governments and corporates. The Institute believes the only realistic roadmap for success is to deploy proven digital technologies alongside increased electrification as the fastest way to decarbonize buildings, transport, and industry. This approach buys time to address hard-to-abate sectors. Its modelling clearly shows alternative pathways will place too high a burden on consumers.
“Despite increased momentum around sustainability and more companies adopting ambitious targets to tackle climate change, this research reveals how we need to speed up. At Schneider Electric, we are uniquely part of the solution. To support organizations in their quest to decarbonize at pace and deliver on their climate commitments, we are accelerating the expansion of our global sustainability consulting services business to meet the increasing demand for meaningful progress on energy transition and climate action goals,” said Jean-Pascal Tricoire, Chairman and CEO, Schneider Electric. “What organizations require today is a trusted partner who combines strategic planning and target setting with a proven track record of solutions implementation to deliver faster, tangible sustainable outcomes. Having successfully overcome many sustainability challenges ourselves, and in so doing, achieved world-leading digital and electric solutions in our own facilities, we are well-positioned to help others go faster and further.”
Strategies and solutions to decarbonize value chains
Building on its sustainability leadership and the ambition of the 2021-2025 Schneider Sustainability Index, Schneider Electric is accelerating its global sustainability consulting business and expand on a 10-year track record of success in energy and sustainability services.
Today, Schneider Electric is the world’s leader in energy efficiency, energy management, renewable energy procurement, carbon reporting, climate risk assessment, and supply chain decarbonization, providing software and consulting services to more than 30% of the Fortune 500. Customers include Johnson & Johnson, Walmart, Faurecia, Kellogg, Takeda, Velux Group, Unilever, and T-Mobile, among others.
Increasing demand for Schneider’s “ambition + action” advisory services is behind this expansion, including:
Being part of the solution through digital disruption
As part of its ambition to drive sustainable innovation and build net zero pathways, Schneider Electric helps customers in many sectors to innovate and move to open, interoperable, digital, and simplified systems and smarter ways of doing business. At Innovation Summit World Tour, Schneider Electric is unveiling digital innovation for carbon abatement in homes, buildings, data centers, power grids, and industries.
Electricity 4.0: Powering the New Electric World with Smart Green Energy
Today, we are witnessing the convergence of digital and electric at scale with software. Electric makes energy green and the best vector for decarbonization. Digital makes energy smart to drive efficiency and eliminate waste. This convergence delivers ‘Electricity 4.0’, the fuel for a New Electric World.
Industries of the Future: Resilient and Sustainable with Next-generation Automation.
Step changes in efficiency and agility can be achieved through artificial intelligence, digital twin technology, human insight supported by advanced analytics, and vendor-agnostic industrial software—including Performance Intelligence from AVEVA.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On | Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Hashtags: #SchneiderElectric #LifeIsOn #EcoStruxure, #Sustainability, #energytransformation, #decarbonization, #climateaction, #DigitalTransformation, #PowerManagement, #IoT
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DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced its plans to release financial results for the third quarter 2021 on Monday, November 8, 2021, after market close. A copy of the Company’s press release will be available on the Primoris website at www.primoriscorp.com.
Management will host a conference call and webcast on Tuesday, November 9, 2021, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the Company’s third quarter 2021 results and update its financial outlook. Prepared remarks by Tom McCormick, President and Chief Executive Officer, and Ken Dodgen, Chief Financial Officer, will be followed by a question and answer session.
Interested parties are invited to dial-in using 1-833-476-0954, or internationally at 1-236-714-2611, using access code: 4449678, or by asking for the Primoris conference call. The conference call will also be made available through a webcast in the Investor Relations portion of the Company’s website.
A replay of the conference call will be available Tuesday, November 9, 2021, beginning at 5:00 p.m. U.S. Central Time for seven days. The phone number for the conference call replay is 1-800-585-8367 or, for calls from outside the U.S., 1-416-621-4642, using access code: 4449678. The replay of the webcast will also be available on the Company’s website following the end of the live call.
ABOUT PRIMORIS
Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, electrical transmission and distribution systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.primoriscorp.com
Brook Wootton
Vice President, Investor Relations
Primoris Services Corporation, 214-545-6773
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BOSTON--(BUSINESS WIRE)--#DigitalTransformation--Schneider Electric, the global leader in the digital transformation of energy management and automation, Schneider Electric, the leader in the digital transformation of energy management and automation, and recognized by the Corporate Knights Global 100 Index as the world’s most sustainable corporation in 2021, has announced the acceleration of its global sustainability consulting business to meet the increasing demand of organizations making meaningful progress on their energy transition and decarbonization goals.
The division expansion will double the company’s existing consulting practice and include new services and digital solutions across sustainability strategy, climate action and risk management, ESG reporting and materiality, circularity, and traceability, among others, bolstered by enhanced growth in Europe, APAC, and the Americas.
An established leader
The announcement builds on Schneider Electric’s track-record as a sustainability leader and its own raised commitments and ambitious 2021-2025 Schneider Sustainability Impact targets (SSI), inclusive of a goal to save or avoid up to 800 million metric tons of emissions on behalf of its customers.
The accelerated growth in consulting will supplement the company’s 10-year track record of success in energy and sustainability services. Today, the company is the world’s leader in energy efficiency, energy management, renewable energy procurement, carbon reporting, climate risk, and supply chain decarbonization, providing end-to-end software and services to more than 30% of the Fortune 500, across more than 100 countries on six continents.
Schneider Electric is already one of the largest energy managers in the world by volume, managing, on average, more than USD$30B in global energy spend every year on behalf of its customers. The company is also the leading advisor on corporate renewable energy purchasing, having advised clients on the execution of more than 150 bilateral PPA agreements, for a total of more than 11,000 megawatts of renewable power, since 2014. The company’s clients include Johnson & Johnson, Walmart, Faurecia, Kellogg, Takeda, Velux Group, and T-Mobile, among others.
Decarbonization reaches new urgency
The urgency to rapidly decarbonize was again reinforced by the release of the 6th report from the Intergovernmental Panel on Climate Change (IPCC) in August. The report found that climate change has begun to affect every natural system to some degree, but that “strong and sustained” emissions reduction may yet limit the worst impacts of these planetary changes.
Businesses have increasingly recognized the importance of proactively managing energy and emissions to manage and mitigate climate risk. The disruptive effects of the COVID-19 pandemic heightened this awareness, with some calling the pandemic a “trial run” for how business and the economy may be impacted by climate change.
Further, as companies grapple with the impacts of climate-driven extreme weather events such as droughts, flooding, and hurricanes, investor sensitivity to climate-related investment risks has also grown. To date, more than 10,000 companies are disclosing their emissions to CDP on an annual basis, while more than 1,000 businesses have set science-based carbon reduction goals. A recent study by Pimco found that mentions of environment, society, and governance (ESG) on corporate earning calls have increased from 0%-1% from 2005-2018 to 19% in May 2021.
Pressure to decarbonize has particularly intensified for companies with significant disruption/climate risk exposure or activist investors, including oil & gas, financial services, commercial real estate, food & beverage, cloud & service provider, and those in hard-to-abate sectors such as heavy industry and manufacturing. Many companies report feeling these pressures for the first time in 2021 as investors scrutinize their portfolios for environmental and social responsibility.
Yet, mounting evidence suggests that organizations are not moving nearly fast enough to align efforts with the 1.5 degree Celsius warming pathway recommended by the IPCC. The Science-based Targets Initiative recently found that only 20% of G20 companies have climate targets aligned to prevailing science. Further, Schneider Electric’s own recent global research of companies earning more than $250M annually found that only 29% of respondents have developed and published climate action plans, while 36% report that they will explore climate action over time (25%), or intend to maintain their current business model indefinitely (11%).
“We know that addressing climate change is the defining issue of our generation, and that businesses play a key role – but we also know that we must go faster if we are to avoid the worst impacts of warming this century,” said Olivier Blum, Chief Strategy and Sustainability Officer for Schneider Electric. “By combining our own experience in sustainability with our market-leading services in decarbonization and energy strategy and action, we can escalate the transition to a cleaner, greener future.”
Schneider Electric uniquely positioned as partner of choice for Net Zero
This increasing market need, and demand, for high-value skills and Schneider’s unique “ambition + action” approach to consulting, is behind its ambitions and enhanced capabilities. To date in 2021 alone, the company has launched four new services to meet this growing challenge:
The consulting group is developing additional services in circularity and traceability, and new ESG modules for the award-winning EcoStruxure™ Resource Advisor software platform to meet growing organizational demand for the expanded tracking of societal and governance metrics.
These new services enhance Schneider’s existing portfolio of digital, sustainable, and efficient solutions, including the company’s Green Premium™ product label and EcoStruxure stack. When taken together, Schneider’s solutions provide one of the most comprehensive paths to net zero emissions in the market today.
“We are seeing increasing market momentum as businesses set and work towards decarbonization commitments. But the current trajectory of emission reduction is still not bold enough, not fast enough. By growing our consulting business, we can help our clients accelerate this momentum,” said Schneider Electric consulting group president Susan Uthayakumar. “The decisions and actions of business leaders in the next decade will be some of the most consequential of our lives, and it is an honor for Schneider Electric to stand alongside our clients at the vanguard of this global movement for change.”
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On | Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Hashtags: #SchneiderElectric #LifeIsOn #EcoStruxure, #Sustainability, #energytransformation, #decarbonization, #climateaction, #DigitalTransformation, #PowerManagement, #IoT
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Enhanced System Reduces Emissions
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that ultra-deepwater drillship VALARIS DS-12 has become the first vessel in the world to receive the ABS Enhanced Electrical System Notation EHS-E.
Valaris upgraded the vessel’s electrical system to secure the notation, which recognizes sophisticated system design to improve reliability and enhance protection. The Valaris electrical system is specifically designed to allow the drillship to optimize powerplant performance, enabling operations on fewer generators and reducing emissions.
“With this enhanced notation, VALARIS DS-12 exemplifies our company’s purpose of providing responsible solutions that deliver energy to the world. I want to recognize our engineers, our partner ABS and thank our customer BP, for their support. This is truly a remarkable team achievement that paves the way to more sustainable deepwater drilling,” said Valaris Senior Vice President and Chief Operating Officer Gilles Luca.
“It is great to see Valaris become the first to secure this notation, which recognizes their commitment to sustainable operations and investment in advanced electrical systems to increase efficiency. As the world’s leading global offshore Class, ABS is well placed to help forward thinking operators such as Valaris achieve next generation operations,” said Matt Tremblay, ABS Vice President, Global Offshore.
ABS has surveyed the upgraded system and tested it to ensure it can operate on reduced generator power. The short circuit and fault ride through capability was demonstrated on board the vessel with ABS in attendance.
The EHS-E notation was introduced in the ABS Guide for Dynamic Positioning Systems in October 2021. A copy of the guide can be downloaded here.
About Valaris
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
About ABS
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.
Cautionary Statements
Statements contained in this press release, as well as materials or websites that are cross-referenced, that are not historical facts are 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. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words and specifically include statements that are aspirational or reflective of our views about future performance and our expectations, plans, or goals related to corporate responsibility, sustainability and environmental matters, employees, policy, business, procurement and other risks and opportunities. Forward-looking statements are aspirational and are not guarantees or promises that such expectations, plans, or goals will be met. Such historical, current, and forward-looking sustainability-related statements are based on currently available information and assumptions, as well as standards for measuring progress that are still in development and internal controls and processes that continue to evolve. They are also subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated. In addition to the factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking or other statements, except as required by law and notwithstanding any historical practice of doing so.
Website references are provided for convenience only. The content on the referenced websites is not incorporated by reference into this document, nor does it constitute a part of this document. We assume no liability for any third-party content contained on the referenced websites.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
DUBLIN--(BUSINESS WIRE)--The "Global IoT in Oil and Gas Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The market is likely to grow at a CAGR of around 23% during 2021-2026, according to the report.
The market growth attributes to the surging demand for enhancing the operational efficiency of the oil & gas industry to accomplish energy requirements. In addition to this, the increasing threat of cyber-attacks and the decline in the availability of skilled labor in the oil and gas industry are other major factors fueling the market growth.
Further, the mounting requirement of oil and gas companies to access real-time information across all locations leads to an increase in the demand for integrating IoT in oil & gas industries, thereby boosting the market growth.
Surging Demand for Digital Solutions in the Industry
The oil and gas companies face a significant challenge in addressing the fluctuation of demand and pricing in their industry. Therefore, there is an increasing demand for a digital solution in these sectors to help connect physical objects to the Internet and enhance communication & management of massive data among all connected devices.
Impact of COVID-19
The sudden outbreak of the COVID-19 pandemic has aided the need for technological developments and new applications within different end-use verticals. Moreover, due to the spread of disease, the demand for integrating IoT in oil & gas industries witnessed tremendous growth to enhance operational efficiency.
Further, the spread of the pandemic resulted in a declining number of working staff. Hence, the demand for IoT in oil and gas increased significantly to manage communication between physical objects of the industry and improve their efficiency.
Asset Management Accounted for the Largest Market Share
Based on the Application, the market bifurcates into Preventive Maintenance, Pipeline & Equipment Monitoring, Fleet and Asset Management, Security Management, Asset Management, and Others including Data Management and Hazardous Management. Among these segments, Asset Management acquired the largest share in the Global IoT in the Oil and Gas Market in the previous few years.
IoT-enabled asset management solution is beneficial for integrating every asset with all process & workflows into a single platform, which, in turn, offer a central & consolidated tracking system. Asset management includes asset maintenance that further helps control operations of assets and achieves an organizational strategic plan. Thus, these factors lead to boost the segment's growth.
Data Management Dominated the Market
Based on the Solution, the market segments into Communication, Sensing, Data Management, Cloud, and Edge Computing. Amongst these, Data Management captured a significant share in the Global IoT in the Oil and Gas Market in the previous few years. Data management through IoT enables users to refine massive data into essential information and helps the user track, monitor, and manage the devices efficiently, thereby augmenting the segment growth.
North America Attained the Highest Market Share
Geographically, the North American region held the largest share in the Global IoT in the Oil and Gas Market in the past few years due to a surging production rate of unconventional energy sources, including oil and gas. In addition to this, the rapid expansion of offshore shipping for oil transportation, increasing awareness, and technological advancements in the region further propel the market growth.
Key Questions Answered
1. What are the overall market statistics or estimates (Market Overview, Market Size - by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global IoT in the Oil and Gas Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in Global IoT in Oil and Gas Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in Global IoT in Oil and Gas market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global IoT in Oil and Gas Market study?
Major Companies Profiled
For more information about this report visit https://www.researchandmarkets.com/r/n1n0ub
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Submarine Power Cable Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2026" report has been added to ResearchAndMarkets.com's offering.
The report on the global submarine power cable market provides qualitative and quantitative analysis for the period from 2018 to 2026.
The report predicts the global submarine power cable market to grow with a CAGR of 14.2% over the forecast period from 2020-2026. The study on submarine power cable market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2018 to 2026.
The report on submarine power cable market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global submarine power cable market over the period of 2018 to 2026. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global submarine power cable market over the period of 2018 to 2026. Furthermore, the Growth Matrix provided in the report brings an insight into the investment areas that existing or new market players can consider.
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the submarine power cable market.
2. Complete coverage of all the segments in the submarine power cable market to analyze the trends, developments in the global market and forecast of market size up to 2026.
3. Comprehensive analysis of the companies operating in the global submarine power cable market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Publisher's Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Market Dynamics
Drivers
Restraints
Opportunities
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/k07bvf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SES to unveil new electric vehicle Li-Metal cells
BOSTON--(BUSINESS WIRE)--#automotive--SES Holdings Pte. Ltd. (SES), a global leader in the development and initial production of high-performance hybrid lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications today announced its inaugural Battery World virtual events taking place in the United States on November 3, and in South Korea and China on November 4.
In July 2021, SES announced plans to list on the New York Stock Exchange (NYSE) through a merger with Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) (“Ivanhoe Capital”). Upon the closing of the transaction, the combined company will be listed on the NYSE under the new ticker symbol “SES.”
SES Battery World U.S. Details:
Keynote: In his keynote address, Dr. Qichao Hu, Founder and CEO of SES, will discuss SES’s strategy and vision for the future of batteries. In addition, he will announce major breakthroughs in hybrid Li-Metal battery cell development and advancements in SES’s planned production capacity.
Beyond Li-ion™ Panel:
A panel of world-renowned battery experts will then discuss the future of battery technology. Moderated by Mark Newman, former senior analyst at Bernstein, board member at Faraday Institution and senior advisor to Ivanhoe and SES, this panel will feature:
Q&A: Following the panel, there will be a live Q&A with all attendees.
“SES has spent nearly a decade getting our hybrid Li-Metal battery ready for this day,” said Dr. Hu. “Simply put, our batteries work. We are not the only ones saying this. Our customers have tested our cells and we have published test reports from two different third-party test facilities for the whole world to review. I am looking forward to sharing exciting announcements and growth plans that will catapult SES from a battery development company into a full-blown battery supplier over the next decade.”
Following Battery World U.S. on November 3rd, SES will hold similar events in both South Korea and China.
SES Battery World Korea
SES Battery World China
About SES
SES is a global leader in development and initial production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Singapore and has operations in Boston, Shanghai and Seoul.
About Ivanhoe Capital Acquisition Corp.
Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Ivanhoe was formed to seek a target in industries related to the paradigm shift away from fossil fuels towards the electrification of industry and society.
Forward-looking statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements.” Forward-looking statements can generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” and other similar expressions that predict or indicate future events or events or trends that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the development and commercialization of SES’s products, the amount of capital and other benefits to be provided by the transaction, estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SES's and Ivanhoe's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of SES and Ivanhoe. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the shareholders of SES or Ivanhoe is not obtained; the failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES's battery technology and the timing and achievement of expected business milestones; the effects of competition on SES's business; the risk that the business combination disrupts current plans and operations of Ivanhoe and SES as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; risks relating SES’s history of no revenues and net losses; the risk that SES’s joint development agreements and other strategic alliances could be unsuccessful; risks relating to delays in the design, manufacture, regulatory approval and launch of SES’s battery cells; the risk that SES may not establish supply relationships for necessary components or pay components that are more expensive than anticipated; risks relating to competition and rapid change in the electric vehicle battery market; safety risks posed by certain components of SES’s batteries; risks relating to machinery used in the production of SES’s batteries; risks relating to the willingness of commercial vehicle and specialty vehicle operators and consumers to adopt electric vehicles; risks relating to SES’s intellectual property portfolio; the amount of redemption requests made by Ivanhoe's public shareholders; the ability of Ivanhoe or the combined company to issue equity or equity-linked securities or obtain debt financing in connection with the business combination or in the future and those factors discussed in Ivanhoe's annual report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2021, under the heading "Risk Factors," and other documents of Ivanhoe filed, or to be filed, with the SEC relating to the business combination. If any of these risks materialize or Ivanhoe's or SES's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Ivanhoe nor SES presently know or that Ivanhoe and SES currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Ivanhoe's and SES's expectations, plans or forecasts of future events and views only as of the date of this press release. Ivanhoe and SES anticipate that subsequent events and developments will cause Ivanhoe's and SES's assessments to change. However, while Ivanhoe and SES may elect to update these forward-looking statements at some point in the future, Ivanhoe and SES specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Ivanhoe's and SES's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Additional Information
This press release relates to the proposed business combination between Ivanhoe and SES. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Ivanhoe has filed a Registration Statement on Form S-4 with the SEC, which includes a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus, and which has not yet been declared effective. A proxy statement/prospectus will be sent to all Ivanhoe shareholders. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Ivanhoe will also file other documents regarding the proposed business combination with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF IVANHOE ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.
Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Ivanhoe through the website maintained by the SEC at www.sec.gov. The documents filed by Ivanhoe with the SEC also may be obtained free of charge upon written request to Ivanhoe Capital Acquisition Corp., 1177 Avenue of the Americas, 5th Floor, New York, New York 10036.
Participants in the Solicitation
Ivanhoe, SES and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Ivanhoe’s shareholders in connection with the proposed business combination. You can find information about Ivanhoe’s directors and executive officers and their interest in Ivanhoe can be found in Ivanhoe’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021. A list of the names of the directors, executive officers, other members of management and employees of Ivanhoe and SES, as well as information regarding their interests in the business combination, are contained in the Registration Statement on Form S-4 filed with the SEC by Ivanhoe. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.
Gaby Lechin
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Office: 720-230-6399
Investors
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LONDON--(BUSINESS WIRE)--EO Charging (“EO”), a leading provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, has secured a landmark deal with Tesco to power its UK home delivery fleet of electric vans.
Tesco plans to have a fully electric delivery vehicle fleet by the end of 2028. This year, the business has already rolled out 30 electric vans, with plans in place for a further 150 in 2022.
As part of the first phase of the electrification programme, EO is supplying more than 200 AC fast chargers and 5 DC rapid chargers across five sites. The charging depots in Lakeside, Oxford, Glasgow (two sites) and Enfield will serve both day-to-day charging requirements as well as emergency cover in case of short turn-around times required for vehicles.
The partnership will see EO, whose fleet charging solutions are already used by some of the world’s leading corporations in the UK and Europe including Amazon, DHL, Go-Ahead and Uber, taking care of end-to-end electrification for Tesco. This includes upfront consultation to charging hardware, ongoing 24/7/365 support, maintenance, and onsite Service Level Agreement (SLA) for mission critical charging infrastructure.
Tesco’s charging infrastructure will be managed by EO Cloud – dedicated depot software that combines charge scheduling, site load management, vehicle telematics integration and energy data to reduce infrastructure installation costs and optimize fuel cost per vehicle.
Charlie Jardine, Founder & CEO at EO Charging, said:
“Tesco is one of the largest and most important businesses in the UK so it’s a privilege to play a part in its transition to electric vehicles as part of its decarbonisation strategy. Our focus is now to help the business optimise its fleet performance and provide round the clock support and ongoing maintenance of their charging infrastructure.”
EO recently executed an operations and management programme covering several thousand AC chargers at more than 50 sites across six countries for one of its clients. As part of the charging programme, EO resolved any Europe-wide on-site or remote issue in an average time of under three hours.
EO Charging recently announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
About EO
EO Charging (EO) is a leading technology solutions provider in the EV sector. EO designs and manufactures EV charging stations and hardware-agnostic cloud-based charge-point management software for fleets at its headquarters in the UK. EO also provides installation services and ongoing operations and maintenance services across its fleet customer base.
Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators, and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus, and car fleets.
EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.
Forward Looking Statements
The information in this press release includes "forward-looking statements". All statements, other than statements of present or historical fact included in this press release, regarding the proposed business combination between First Reserve Sustainable Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO Charging (“EO”), each of such parties’ ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, FRSG, the Company and EO disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. FRSG, the Company and EO caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of any of FRSG, the Company or EO. In addition, FRSG, the Company and EO caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the Business Combination Agreement and Plan of Reorganization, dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub Inc., EO and the Company, and the other agreements related to the business combination (including catastrophic events, acts of terrorism, the outbreak of war, COVID-19 and other public health events), as well as management’s response to any of the foregoing; (ii) the outcome of any legal proceedings that may be instituted against FRSG, the Company, EO, their affiliates or their respective directors and officers following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of FRSG, regulatory approvals, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts FRSG's or the Company's current plans and operations as a result of the announcement of the transactions; (v) the Company's and EO’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the pace and depth of EV adoption generally, and the ability of the Company to accurately estimate supply and demand for its EV charging products and services, and to grow and manage growth profitably following the business combination; (vi) risks relating to the uncertainty of the projected financial information with respect to the Company, including the conversion of pre-orders into binding orders; (vii) costs related to the business combination; (viii) changes in applicable laws or regulations, governmental incentives and fuel and energy prices; (ix) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (x) the amount of redemption requests by FRSG’s public stockholders; and (xi) such other factors affecting FRSG that are detailed from time to time in FRSG’s filings with the Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and its periodic filings with the SEC, including its Quarterly Report on Form 10-Q for quarterly period ended June 30, 2021. FRSG's SEC filings are available publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Stockholders
In connection with the proposed business combination, a registration statement on Form F-4 that includes a preliminary proxy statement/prospectus has been filed by EO with the SEC. After the registration statement is declared effective, the definitive proxy statement will be distributed to FRSG’s stockholders in connection with FRSG’s solicitation for proxies for the vote by FRSG’s stockholders in connection with the proposed business combination and other matters as described in the Form F-4, as well as a definitive prospectus of EO relating to the offer of the securities to be issued in connection with the completion of the business combination. Copies of the Form F-4 may be obtained free of charge at the SEC's website at www.sec.gov. FRSG’s stockholders are urged to read the preliminary proxy statement/prospectus and the other relevant materials (including, when available, the definitive proxy statement/prospectus) when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FRSG, EO or Juuce, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom.
Participants in the Solicitation
FRSG, the Company and EO and their respective directors and officers may be deemed participants in the solicitation of proxies of FRSG's stockholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of FRSG's executive officers and directors in the solicitation by reading FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of FRSG's, the Company’s and EO’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
EO Contacts
For Investors:
ICR, Inc.
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For Media:
ICR, Inc.
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NEW YORK--(BUSINESS WIRE)--#Q32021--Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, October 27, 2021 at 10 a.m. Eastern Time to discuss its third quarter 2021 earnings release.
To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 5934198 after 9:45 a.m. Outside the United States, parties should dial 443-295-9223 and enter the pass code 5934198. This conference call will also be accessible by webcast (audio only).
A replay of the conference call will be available from October 27 through November 10, 2021 by dialing 855-859-2056 and entering the pass code 5934198. Outside the United States, parties should dial 404-537-3406 and enter the pass code 5934198.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.
Forward-looking Statements
Certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, uncertainties inherent in the measurement and interpretation of geological, geophysical and other technical data. Estimates and projections contained in this release are based on the Company’s current understanding and assessment based on reasonable assumptions. Actual results may differ materially from these estimates and projections due to certain risk factors discussed in the Corporation’s periodic filings with the Securities and Exchange Commission and other factors.
Investor contact:
Jay Wilson
(212) 536-8940
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Media contact:
Lorrie Hecker
(212) 536-8250
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LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a joint venture comprised of the Company and Brosamer & Wall, Inc. has been awarded a contract valued at approximately $178 million by the U.S. Department of the Interior, Bureau of Reclamation, for the Friant-Kern Canal Middle Reach Capacity Correction Phase I project in central California, southeast of Visalia.
The Friant-Kern Canal delivers water to one million acres of some of the most productive farmland in the country and provides drinking water to thousands of San Joaquin Valley residents. The project will restore water conveyance capacity in a 33-mile section of the canal’s middle reach, where it has been most restricted due to land subsidence in the area that has occurred over the past decades. When complete, the project will return the canal’s conveyance capacity from the current 1,600 cubic feet per second (cfs) to the original 4,000 cfs.
Construction is expected to begin in November 2021 with substantial completion anticipated in June 2024. Tutor Perini’s portion of the contract value is included in the Company’s third-quarter 2021 backlog.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.
Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com
HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Leading provider of energy services, Expro (NYSE: XPRO) has won the Hart Energy’s E&P 2021 Special Meritorious Awards for Engineering Innovation (MEAs) for HSE for VIGILANCE™.
MEA is the industry’s most established and widely respected engineering awards program. Each year, the world’s best new tools and techniques for finding, developing, and producing hydrocarbons are recognized. MEA entries are judged on their game-changing significance, both technically and economically.
Expro’s VIGILANCE™ safety surveillance technology tracks equipment as well as personnel movement through a unified, real-time system with 10-centimeter accuracy, and thereby addresses one of the industry’s main key performance indicators for enhancing safety for rig floor personnel, particularly for those working in close vicinity of multiple pieces of moving equipment, or the “red zone.”
The VIGILANCE™ technology solution is portable and is customized to suit any rig environment onshore or offshore. Unlike current anti-collision systems, which do not track personnel and are unable to halt the automated operation of multiple pieces of equipment in case of interference with personnel, VIGILANCETM tracks personnel and equipment based on set boundaries established for safe operational movement. The location coordinates for each object are monitored live and the ability to interfere and/or stop unsafe operations is executed from a single command and control system. In addition, audible and visual alarms and safety interlocks can be established based on different levels of moving or collision hazards in operations.
Jeremy Angelle, Expro’s Vice President for Well Construction, commented: “We are proud to be recognized for our VIGILANCE™ safety surveillance technology at this year’s MEAs.
“The development of safety surveillance technology is consistent with Expro’s Champion Safety Culture providing enhanced safety to both our and third-party personnel working on the rig floor. This monitoring system can also be employed to improve operations planning and hence rig efficiency.
“This is an outstanding achievement and it is testament to our commitment to safety, innovating with purpose and delivering extraordinary performance to our customers.”
Expro recently combined with Frank’s International in an all-stock transaction to create a leading full-cycle service provider. The combination brings together two companies with decades of market leadership, best-in-class safety and service quality performance, exceptional talent and global capabilities in well construction, well flow management, subsea well access and well intervention and integrity services. The transaction closed on October 1, 2021 and began trading on the New York Stock Exchange under the ticker “XPRO” on October 4, 2021.
Notes to Editors:
Expro
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.
Founded in 1938, Expro has more than 6,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
Expro – Hannah Rumbles, +44 (0) 1224-796729
SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, announced today that it has further extended its market penetration with the installation of new charging stations at Stop & Shop in Connecticut. The exact address of these charging stations is 505 N. Main Street, Southington, CT 06489.
Founded on the premise that the electrification of mobility is likely to be a transformational shift, Volta builds and operates a nationwide EV charging network that has among the best utilization per station in the EV charging industry for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta seeks to transform the fueling industry by building open-network charging stations in locations where drivers already spend their time and money, including grocery stores, pharmacies and other retail locations.
The new charging stations at Stop & Shop further Volta’s mission to build convenient, simple and delightful charging infrastructure that is seamlessly incorporated into a driver’s everyday experience.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the electric vehicle (“EV”) charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K, as amended, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Sabrina Strauss
Goodman Media International, Inc.
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) plans to release its financial results for the third quarter ended September 30, 2021 after the market closes on October 20, 2021. An investors’ conference call to review the third quarter will be held the following day.
Date: Thursday, October 21, 2021
Time: 8:00 a.m. CT (please dial in by 7:55 a.m.)
Dial In #: (833) 900-2251
Conference ID: 8571037
Replay Dial In # (800) 585-8367 – Conference ID: 8571037
A webcast of the conference call will also be available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com.
About Martin Midstream Partners
Martin Midstream Partners L.P., headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-F
Sharon Taylor
Chief Financial Officer
(877) 256-6644
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DUBLIN--(BUSINESS WIRE)--The "Autonomous Marine Vehicles Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global autonomous marine vehicles market is expected to grow from $3.18 billion in 2020 to $3.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to reach $5.1 billion in 2025 at a CAGR of 10.4%.
Major players in the autonomous marine vehicles market are Asv Global/ASV Unmanned Marine Systems, Atlas Elektronik, Teledyne Technologies, ECA Group, Sea Robotics Inc.
The autonomous marine vehicles market consists of sales of autonomous marine vehicles. Autonomous marine vehicles are robotic equipment that travel below or on the surface of water, without requiring input from a human operator. The autonomous marine vehicles market is segmented into autonomous surface vehicles (which travel on the surface of the water) and autonomous underwater vehicles (which travel below the surface of the water). Autonomous marine vehicles are used for various purposes such as recording oceanographic data, imaging, navigation, communication, collision avoidance and propulsion.
The autonomous marine vehicles market covered in this report is segmented by type into surface vehicle, underwater vehicle. It is also segmented by application into military & defense, archeological, exploration, oil & gas, environmental protection and monitoring, search and salvage operations, oceanography and by technology into imaging, navigation, communication, collision avoidance, propulsion.
The vulnerability of ships to cyber threats due to automation is a major restraint for the autonomous marine vehicles market. This is mainly because cyberspace and its associated infrastructure are vulnerable to a versatile range of risks coming from cyber threats and attacks. The use of automation which negates the need for human intervention on ships and in ports increases the chances of security breaches. A cyber-attack can misguide an autonomous ship to move in a different direction or move to a separate port, which can lead to misplacement and delay of goods and services.
Maritime drone swarming for better surveillance and investigation capabilities is an emerging trend in the autonomous marine vehicles market. Maritime drone swarms are a large group of underwater vehicles moving together for a particular purpose. The drone swarm has a wide range of capabilities in defence applications, since it is capable of performing surveillance and investigation tasks followed by defensive or offensive countermeasures.
As the swarm works collectively to navigate through the underwater environment, it senses a wider area in a quick time by making use of a number of sensing techniques to build a comprehensive map of the environment.
The autonomous marine vehicles market is being driven by a rise in hydrographic, oceanographic and environmental surveys conducted globally. A hydrographic survey measures, describes and maps features that can be found underwater. The main purpose of conducting these surveys is to produce navigational charts essential for safe transit of vessels.
An oceanographic survey helps in the accurate understanding of marine and freshwater environments, for port and harbor development, wastewater and industrial outfalls, power plant intakes/outfalls and offshore disposals. An autonomous surface vehicle (ASV) provides an efficient method of undertaking a hydrographic survey, as it saves both cost and time.
It is also flexible and convenient which allows for faster deployment for a number of survey requirements, from event surveys to large coastal surveys.
Key Topics Covered:
1. Executive Summary
2. Autonomous Marine Vehicles Market Characteristics
3. Autonomous Marine Vehicles Market Trends and Strategies
4. Impact Of COVID-19 On Autonomous Marine Vehicles
5. Autonomous Marine Vehicles Market Size and Growth
5.1. Global Autonomous Marine Vehicles Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Autonomous Marine Vehicles Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Autonomous Marine Vehicles Market Segmentation
6.1. Global Autonomous Marine Vehicles Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Autonomous Marine Vehicles Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Autonomous Marine Vehicles Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Autonomous Marine Vehicles Market Regional and Country Analysis
7.1. Global Autonomous Marine Vehicles Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Autonomous Marine Vehicles Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/hk2rby
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a substantial(1) long-term charter and services contract by Petrobras (NYSE: PBR) for the pipelay support vessel Coral do Atlântico.
The Brazilian-registered vessel has been secured on a three-year contract, with an option to extend. Operations offshore Brazil are expected to begin in the second quarter of 2022.
Coral do Atlântico is an important component of the Company’s leading flexible pipe ecosystem in Brazil and will mainly be deployed in ultra-deepwater of up to 3,000 meters.
Jonathan Landes, President, Subsea at TechnipFMC, commented, “Coral do Atlântico is the third of our pipelay support vessels to be contracted via a long-term charter by Petrobras this year, indicating rising demand in the Brazilian market for flexibles. Coral do Atlântico’s versatility and ability to work in deep or shallow water is a large part of the vessel’s appeal. This latest contract further strengthens our collaborative, trusting relationship with Petrobras that spans decades.”
Coral do Atlântico has a history of long-term charters with Petrobras and has consistently been awarded the client’s highest rating for operational performance, quality of work, and health, safety and environment.
(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million.
Note: this inbound order is included in the Company’s third quarter financial results.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) issued an updated climate change resilience report that further details the company’s ambition to advance our lower carbon future. Chevron adopted a 2050 net zero aspiration for equity upstream Scope 1 and 2 emissions. The TCFD-aligned report describes how Chevron is incorporating Scope 3 emissions into its greenhouse gas emission targets by establishing a Portfolio Carbon Intensity (PCI) target inclusive of Scope 1 and 2 as well as Scope 3 emissions* from the use of its products.
“Solutions start with problem solving, which is exactly what the people of Chevron do – and have excelled at for over 140 years,” said Michael Wirth, Chevron’s chairman and CEO. “This report offers further insights about our strategy, how we are investing in lower-carbon businesses and why we believe this is an exciting time to be in the energy industry.”
Chevron’s new PCI target assists with transparent carbon accounting and company comparison from publicly available data. The target covers the full value chain, including Scope 3 emissions from the use of products. The company has set a greater than 5 percent carbon emissions intensity reduction target from 2016 levels by 2028. This target is aligned with Chevron’s strategy which allows flexibility to grow its traditional business, provided it remains increasingly carbon-efficient, and pursue growth in lower-carbon businesses. Chevron plans to publish a PCI methodology document and online tool to enable third parties to calculate PCI for energy companies.
Chevron’s 2050 equity upstream Scope 1 and 2 net zero aspiration builds on the company’s disciplined approach to target setting and action. The path to this net zero aspiration anticipates partnerships with multiple stakeholders and progress in technology, policy, regulations, and offset markets.
“We regularly engage with stakeholders and investors to understand their views and to be responsive to their increasing expectations on all issues, including ESG,” said Dr. Ronald Sugar, Chevron’s lead director. “Our updated report demonstrates our goal to partner with many stakeholders to work toward a lower carbon future.”
The full report is online here.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance our lower carbon strategy, we are focused on lowering the carbon intensity in our operations and growing lower carbon businesses. More information about Chevron is available at www.chevron.com.
* Scope 1 includes direct emissions of the six Kyoto Protocol greenhouse gases (GHG)--carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), sulfur hexafluoride, perfluorocarbons, and hydrofluorocarbons. Scope 2 includes indirect GHG emissions from imported electricity and steam. Scope 3 includes other indirect emissions, including use of products. The PCI includes Scope 3 emissions from the use of products. More information is available in our updated climate change resilience report, which is aligned with Task Force on Climate-Related Disclosures (TCFD).
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s energy transition plans and operations that are based on management’s current expectations, estimates, and projections about the petroleum, chemicals, and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires,” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Our ability to achieve the goals, targets, and aspirations outlined in this news release depends on making extensive progress with independent third parties, including development of policy and regulatory support, technological advancement, successful commercial negotiations, availability of cost-effective and verifiable offsets in a global market, and the granting of necessary permits by governing authorities. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural-gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries (OPEC) and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; development of large carbon capture and offsets markets; public health crises, such as pandemics and epidemics, and related government policies and actions; changing economic, regulatory, and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing, and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions, and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; the results of operations and financial condition of the company’s suppliers, vendors, partners, and equity affiliates; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural-gas development projects; potential delays in the development, construction, or startup of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment, or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms, or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the 2020 Annual Report on Form 10-K. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Sean Comey -- +1-925-842-5509
TULSA, Okla.--(BUSINESS WIRE)--Tulsa-based Citizen Energy announced that it has entered into a definitive Purchase and Sale Agreement with an undisclosed seller.
The Purchase and Sale Agreement provides that Citizen will acquire ~8,000 BOEPD of production (58% gas and 25% NGLs), 97 operated wells, 400 non-op wells and 28,000 net acres (94% HBP) which lies largely within Citizen’s existing footprint. The contiguous nature of the acquisition provides an ideal opportunity for infrastructure connectivity and development continuity. The acquisition will have a July 1, 2021 effective date.
Pro forma for the acquisition, Citizen will have net daily production of ~74,000 BOEPD, interests in over 1,700 wells and over 230,000 net acres across the Mid-Continent. A headline purchase price of $153MM will be funded entirely out of existing liquidity within Citizen’s RBL facility, which was upsized to $850MM prior to the transaction. Citizen expects the acquisition to be accretive to shareholder returns and crucial to building and maintaining its momentum as the largest private operator in Oklahoma.
Closing is expected to occur in the fourth quarter of 2021 and is subject to customary conditions and purchase price adjustments.
Schaper Energy Consulting acted as technical advisor and Shearman & Sterling served as legal counsel for Citizen Energy on the transaction.
Bryan Hawkins
918-949-4680
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DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced that its Billingham Complex in the United Kingdom will continue to operate through at least January 2022 after its UK subsidiary reached carbon dioxide (CO2) pricing and offtake agreements with its industrial gas customers in the country.
The agreements between the UK subsidiary and its industrial gas customers run through the end of January 2022. During this period, it is expected that the UK government and industrial gas customers will develop robust alternative sources of CO2 as part of a long-term solution for meeting demand in the country. The Billingham Complex is capable of producing 750 tonnes of CO2 per day for commercial use as a byproduct of the ammonia production process.
“We are pleased to have reached a commercial solution that enables the Billingham Complex to continue to operate through January, alleviating near-term CO2 supply concerns in the UK,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “We want to thank The Honorable Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy, his staff and our industrial gas customers for the speed and spirit of cooperation that have marked our discussions over the past three weeks. We look forward to working with them in the future as they develop a longer-term solution to CO2 supply and to support sustainable and competitive UK ammonia and fertilizer production.”
CF Industries’ Ince Complex in Chester, UK, will remain offline. The Company does not have an estimate for when production will resume at the facility.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
Media
Chris Close
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Investors
Martin Jarosick
Vice President, Investor Relations
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Richard Palmer, President & CEO
LOS ANGELES--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQX: GCEH) has issued its Proxy Statement and Annual Report for its November 17, 2022 annual meeting of stockholders. The Annual Report contained the following Letter to Shareholders that provided shareholders with an update on GCEH’s vertically integrated Farm-to-Fuel businesses, including the status of the renovation of its renewable diesel refinery in Bakersfield, California.
President’s Letter to Shareholders
As we prepare for our annual shareholders meeting this fall, I wanted to send this letter to all of our shareholders to provide you with an update on our progress. Our team, which is now approaching 100 members, is working tirelessly to achieve our goal of building a truly integrated biofuels value chain business. Our Farm-to-Fuels strategy is well underway as we continue to invest in assets and people in our Upstream, Midstream, and Downstream businesses.
I would like to take this opportunity to publicly welcome all of our new employees and new board members to the GCEH organization and thank our entire team for their outstanding work. To achieve great things, you need great people… and we continue to be extremely fortunate to attract incredible talent. Our team possesses world class experience and creativity, which translates into positive energy and a passion for our overall mission, strategy and goals.
Since my last update, we have made significant progress in moving our Upstream, Midstream, and Downstream businesses along, as well as progressing our corporate goal of uplisting our stock to a national exchange.
GCEH – Our progress includes moving our public listing up to OTC Markets’ highest listing level, the OTCQX Best Market, which is two levels higher than last year. We have pre-filed an application with Nasdaq, and our goal is to be listed on Nasdaq by the year’s end. To be prepared for Nasdaq and to position the company for significant near-term growth, we have put in place several key items:
Upstream – Sustainable Oils – This year, we have been busy developing both our Camelina plant genetics and our grower relationships, including the following:
Plant genetics – We have expanded our plant genetics portfolio and capabilities with the acquisition of Agribody Technologies, Inc. (ATI), an agricultural biotechnology company. The intellectual property (IP) we acquired in our purchase of ATI includes key patents that can improve Camelina yield and stress tolerance.
New Camelina Varieties – This year we applied for seven new Camelina patents and submitted six plant variety protection applications. We planted large commercial test acreage of these new Camelina varieties to demonstrate their commercial viability to our existing and expanding farmer base. These additional varieties will significantly expand our unique Camelina IP portfolio.
Grower/Farmer Deployment – We have entered into strategic relationships with several farmer cooperatives and other large agriculture-based entities to expand the grower adoption of Camelina through their existing grower networks in Montana, Kansas, Colorado and Washington. We will also continue to grow and expand Camelina production through third-party farmers in Idaho and Oregon.
Expanded Facilities – We are in the process of relocating Sustainable Oils’ North American headquarters to Great Falls, Montana. This relocation includes moving to a new state-of-the-art facility, as well as expanding our technical and commercial staff. The new, world-class facility is strategically located in the southern part of the “Golden Triangle” farming region of Montana. Our expanded team of highly experienced geneticists, breeders, agronomists, and commercial crop managers significantly increases our capacity for supporting our grower network. The expanded facility in Montana includes additional technical and commercial capabilities with the ability to support our large-scale acreage expansion of commercial Camelina production in the region.
Midstream – We are expanding the midstream segment of our operations to provide grain aggregation, processing, and transportation capabilities for our Camelina growers. To support our expansion in Montana, we are developing three grain aggregation sites that are co-located with an existing cooperative’s assets, CHS Inc., in the region. When completed, the new aggregation assets will leverage the resources of the cooperative to optimize our combined processing and handling of product at the facilities. Our goal is to be fully operational at our first site by the fall 2022 harvest.
Downstream – Bakersfield Renewable Fuels – Our downstream refinery business, which is anchored by our biorefinery in Bakersfield, CA, is on track to be fully operational in the first quarter of 2022. We remain focused on completing construction and are preparing to start-up our refinery operations in the coming months. We have continued to expand our relationships with the signing of a term purchase agreement with ExxonMobil for the commercialization of our ultra-low carbon feedstock supply and renewable diesel produced in Bakersfield. Our progress towards becoming the leading, lowest cost domestic producer of ultra-low carbon renewable fuels is accelerating. The integrated Farm-to-Fuels value chain strategy differentiates us from other renewable fuel producers, both domestically and worldwide.
In order to provide our shareholders with additional information regarding our business and operations, we have added our first Corporate Presentation to our website. We hope that the Corporate Presentation provides you with additional information about our business strategy and unique industry position, as well as other general information about us. www.gceholdings.com/presentations.
In closing, we are expanding our strategic relationships with world class entities, such as ExxonMobil and CHS. Together, we continue our pursuit of producing non-food-based feedstocks and advancing toward our goal of “net zero” emissions fuels.
We always appreciate the continued support you have placed with our Board of Directors' vision and in our management team.
Again, as always, thank you all…Watch us grow!!!
Warmest Regards,
Richard Palmer
President & Chief Executive Officer
Global Clean Energy Holdings, Inc.
Natalie Findlay
(424) 318-3518
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil plans to build its first, large-scale plastic waste advanced recycling facility in Baytown, Texas, and is expected to start operations by year-end 2022.
By recycling plastic waste back into raw materials that can be used to make plastic and other valuable products, the technology could help address the challenge of plastic waste in the environment. A smaller, temporary facility, is already operational and producing commercial volumes of certified circular polymers that will be marketed by the end of this year to meet growing demand.
“We’ve proven our proprietary advanced recycling technology in Baytown, and we’re scaling up operations to supply certified circular polymers by year-end,” said Karen McKee, president of ExxonMobil Chemical Company. “Availability of reliable advanced recycling capacity will play an important role in helping address plastic waste in the environment, and we are evaluating wide-scale deployment in other locations around the world.”
The new facility follows validation of ExxonMobil’s initial trial of its proprietary process for converting plastic waste into raw materials. To date, the trial has successfully recycled more than 1,000 metric tons of plastic waste, the equivalent of 200 million grocery bags, and has demonstrated the capability of processing 50 metric tons per day.
Upon completion of the large-scale facility, the operation in Baytown will be among North America’s largest plastic waste recycling facilities and will have an initial planned capacity to recycle 30,000 metric tons of plastic waste per year. Operational capacity could be expanded quickly if effective policy and regulations that recognize the lifecycle benefits of advanced recycling are implemented for residential and industrial plastic waste collection and sorting systems.
ExxonMobil is developing plans to build approximately 500,000 metric tons of advanced recycling capacity globally over the next five years. In Europe, the company is collaborating with Plastic Energy on an advanced recycling plant in Notre Dame de Gravenchon, France, which is expected to process 25,000 metric tons of plastic waste per year when it starts up in 2023, with the potential for further expansion to 33,000 metric tons of annual capacity.
The company is also assessing sites in the Netherlands, the U.S. Gulf Coast, Canada, and Singapore.
To meet customer demand for circular polymers, ExxonMobil has obtained certifications through the International Sustainability and Carbon Certification Plus (ISCC Plus) process for several of its facilities. ISCC Plus is widely recognized by industry as an effective system to certify products that result from advanced recycling using mass balance attribution of plastic waste.
To help address the need for increased collection and sorting of plastic waste, ExxonMobil formed a joint venture with Agilyx Corporation, Cyclyx International LLC, focused on developing innovative solutions for aggregating and pre-processing large volumes of plastic waste that can be converted into feedstocks for valuable products. Cyclyx will help supply ExxonMobil’s advanced recycling projects, and will aim to do the same for other customers.
ExxonMobil is a founding member of the Alliance to End Plastic Waste, which is focused on accelerating investment in safe, scalable and economically viable solutions to help address the challenge of plastic waste in the environment through a portfolio of projects that has grown to more than 30 ongoing projects across several countries.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn.
Cautionary Statement: Statements of future events, investment opportunities or conditions in this release are forward-looking statements. Actual future results, including project plans, timing, capacities, and costs and recycled waste volumes could vary depending on the ability to execute operational objectives on a timely and successful basis; the ability to scale projects and technologies on a commercially competitive; the outcome of future research and technology development programs, including the future success of collaborative efforts; the development and pace of supportive market conditions and policies including support for waste collection and sorting and advanced recycling; changes in laws and regulations including environmental laws and taxes; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
ExxonMobil Media Relations:
(972) 940-6007
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