HOUSTON & SAN ANTONIO--(BUSINESS WIRE)--Liquids terminaling and logistics company Moda Midstream, LLC (“Moda”) and Moda’s financial sponsor EnCap Flatrock Midstream (“EFM”) today announced they have entered into a definitive agreement to sell the Moda Ingleside Energy Center (“MIEC”) and other Moda assets to Enbridge Inc. (NYSE, TSX: ENB) for an enterprise value, net of working capital and cash, of approximately $3 billion, subject to closing adjustments.
Located in Ingleside, Texas, MIEC is the nation’s largest crude export terminal by volume, having loaded more than 25 percent of all U.S. Gulf Coast crude exports in 2020. MIEC has an aggregate storage capacity of more than 15 million barrels and an export capacity of 1.6 million barrels per day. The asset serves as a critical link connecting Permian and Eagle Ford production to international markets. MIEC’s proximity to open water combined with its very large crude carrier (VLCC) capability and rapid loading rates position it globally as one of the most important export facilities in the world. MIEC provides customers an unparalleled advantage due to its wellhead-to-water access and direct connectivity to next-generation long-haul crude pipelines, including Cactus I, Cactus II, Gray Oak, EPIC and the Harvest Ingleside pipeline.
Other assets included in the transaction are Moda’s Taft Terminal located near MIEC; a minority, non-operating interest in the Cactus II Pipeline; a 100 percent interest in Moda’s Viola Pipeline; and Moda’s St. James Development Project, a brownfield joint-development opportunity to build independent third-party logistics solutions for customers in the St. James, Louisiana, area. Both the Cactus II and Viola pipelines connect to MIEC.
At closing, Moda Executive Vice President, COO and Founder Javier del Olmo will join Enbridge as Vice President, USGC Terminaling Operations. Key Moda personnel and the entire MIEC team will join Mr. del Olmo at Enbridge as the core of the new USGC Terminaling team in Enbridge’s Liquids Pipelines business unit. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close by the end of this year.
Moda and EFM will retain ownership in Vopak Moda Houston, a world-class deepwater storage and terminaling facility in the Port of Houston, the number one port in the United States in terms of total waterborne tonnage and home to the nation’s largest and world’s second-largest petrochemical complex. Vopak Moda Houston is the first greenfield terminal development in the port in more than a decade and will serve as a vital growth platform for its joint-venture partners, Royal Vopak and Moda Midstream.
Vopak Moda Houston recently commissioned its deepwater dock and has constructed storage and terminaling infrastructure for its industrial gas product line. Moda’s success in Houston is a testament to the determination and hard work across the organization since the formation of Vopak Moda Houston. Moda is confident the team will continue to provide new innovative liquids supply chain solutions and support for customers’ energy transition logistics needs by capitalizing on Vopak Moda Houston’s strong foundation and ideal location.
To execute on continued growth at Vopak Moda Houston and other terminaling opportunities, Moda Midstream President, CEO and Founder Bo McCall will become Chairman of Moda Midstream, and current Executive Vice President, CFO and Founder Jonathan Ackerman will serve as President and CEO. Ian Levine, Moda’s current Vice President of Corporate Strategy and Treasurer will become Vice President, Strategy and CFO.
From Moda Midstream
“MIEC is a flagship asset,” said Moda Midstream President, CEO and Founder Bo McCall. “We are very proud of the safe and responsible growth we have achieved since we purchased the asset less than three years ago. The site was originally designed by the U.S. Navy to support a carrier battle group and, despite the uncertainty following its closure, has developed into the nation’s largest exporter of crude oil, creating jobs and economic prosperity for the Coastal Bend. I want to congratulate everyone on the Moda team for their excellent work and many accomplishments. We are all excited to watch and support MIEC’s continued development and operational excellence under the ownership of a world-class company like Enbridge.”
From EnCap Flatrock Midstream
“When we first backed the Moda management team, we had high expectations of what this talented group would achieve,” said EnCap Flatrock Managing Partner Billy Lemmons. “Bo, Jon, Javier and their outstanding team have exceeded our every expectation. This is a significant transaction that will produce strong results for our investors and add value to Enbridge’s impressive asset portfolio. In addition, we are excited to continue our partnership with the Moda team to further enhance Vopak Moda Houston’s growth and development and explore new opportunities.”
Advisers
Credit Suisse Securities (USA) LLC acted as exclusive financial adviser to Moda, and Vinson & Elkins LLP acted as legal counsel. Shearman & Sterling acted as legal counsel to EnCap Flatrock. Barclays acted as financial adviser to Enbridge, and Sidley Austin LLP acted as legal counsel.
About Moda Midstream, LLC
Moda Midstream, LLC is a liquids terminaling and logistics company that provides independent terminal, storage and distribution solutions to refiners, petrochemical manufacturers, marketers and producers of crude oil, condensate, NGLs, refined products and other bulk liquids. Moda concentrates on providing safe, reliable solutions to third parties. Moda’s mission is to be the logistics and terminaling provider of choice. Moda is backed by EnCap Flatrock Midstream. Please visit www.modamidstream.com.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Casey Nikoloric, Managing Principal
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Validere’s Product Data Cloud integration enables the digital tracking and registering of gas origin and emissions intensity in landmark transaction
TORONTO--(BUSINESS WIRE)--#ESG--Validere, a leader in bringing product-data transparency to the oil and gas industry, has collaborated with Xpansiv to facilitate a landmark Responsibly Sourced Gas Agreement, the first of its kind to validate and register the origin, energy content, and methane intensity of the gas, all derived from independent data sources.
Validere’s Product Data Cloud creates a universal data layer that connects, tracks and audits commodities data, enabling primary measurements and certificates to be attached to specific molecules. This immutable data feeds into the Xpansiv Registry to provide data transparency, helping the industry make better decisions and transition toward a lower-carbon economy.
“Accelerating the energy transition requires real-time, accurate data tracking and insights,” said Nouman Ahmad, co-founder and CEO, Validere. “We’re proud to provide the foundational data layer that enables the industry to track each molecule. Partners like Xpansiv help us certify environmentally sourced products through its pioneering digital registry—including the recently announced responsibly sourced gas transaction.”
“Our partnership with Validere makes it possible for industry participants to differentiate their products based on ESG factors, including methane emissions,” said Andrew Pisano, head of XRegistries at Xpansiv. “It is central to our mission of bringing transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world.”
About Validere
Validere provides the only product data cloud for the oil and gas industry. Its platform delivers real-time visibility into the true composition and quality of oil and gas that enables organizations to identify operational efficiencies, make the highest-margin trading decisions, and drive tangible ESG improvements. With more than 40 of North America’s leading energy companies relying on Validere’s insights, it is transforming the world’s largest supply chain by making critical product quality data accessible and actionable.
About Xpansiv
Xpansiv is the global marketplace for ESG-inclusive commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the leading spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas™; H2OX, the leading spot exchange for water in Australia; XSignals, which provides end-of-day and historical market data; and EMA, the leading multi-registry portfolio management system for all ESG-inclusive commodities. Xpansiv is the digital nexus where ESG and price signals merge.
Media:
Erin Farrell Talbot
Farrell Talbot Consulting
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Ben Tao
Validere
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Xpansiv
Rob Dalton
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WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company, announced today that it has been awarded The Sustainability Leadership Award by the Business Intelligence Group’s 2021 Sustainability Awards program.
The Sustainability Awards honor those who have made sustainability an integral part of their business practice. The award assessment process aims to determine the value of the given sustainability goal, as well as what makes the company’s approach unique and what success they have had in achieving their goal. Origin Materials received the award for its patented, category-leading breakthrough technology built around converting low-cost, non-food feedstock into decarbonized, supply chain ready materials.
“Now more than ever, companies must leverage their collective expertise to make the shared vision of net-zero carbon a reality. Origin’s mission is to enable the world’s transition to sustainable materials as the leading carbon negative materials company. Recognition by the Business Intelligence Group is a testament to our long-term commitment to sustainability and is validation of our mission,” said Origin Materials co-CEO Rich Riley. “We are honored to be recognized alongside so many incredible companies and to accept this award.”
“We are proud to reward and recognize Origin Materials for their sustainability efforts,” said Maria Jimenez, Chief Nominations Officer, Business Intelligence Group. “It was clear to our judges that their vision and strategy will continue to deliver results toward a cleaner, more sustainable world. Congratulations!”
For-profit and not-for-profit organizations of all sizes and across all industries were considered for the Sustainability Leadership Award, with only 20 honorees recognized with an award. Past honorees of the BIG Sustainability Awards include PepsiCo, Procter & Gamble, John Deere, General Motors, Dow and Bausch & Lomb. For a full list of award winners, visit: URL.
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.
For more information, visit www.originmaterials.com.
About Business Intelligence Group
The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, business executives—those with experience and knowledge—judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Origin Materials’ business strategy, commercial and operating plans and product development plans. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Origin Materials 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 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 will differ from assumptions. Many actual events and circumstances are beyond the control of Origin Materials. These forward-looking statements are subject to a number of risks and uncertainties, including that Origin Materials may be unable to successfully commercialize its products; the effects of competition on Origin Materials’ business; disruptions and other impacts to Origin Materials’ business as a result of the COVID-19 pandemic and other global health or economic crises; changes in customer demand; and those factors discussed in the prospectus filed with the SEC on July 30, 2021 under the heading “Risk Factors,” and other documents Origin Materials has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Origin Materials presently does not know, or that Origin Materials currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Origin Materials’ expectations, plans, or forecasts of future events and views as of the date of this press release. Origin Materials anticipates that subsequent events and developments will cause its assessments to change. However, while Origin Materials may elect to update these forward-looking statements at some point in the future, Origin Materials specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Origin Materials’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Origin Materials
Investors:
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By signing up with the renewable energy retailer and going green, new customers will receive full access to Amazon Prime’s fast, free delivery, exclusive deals and discounts, entertainment, and more
HOUSTON--(BUSINESS WIRE)--Renewable energy retailer Octopus Energy today announced that new customers can enjoy a year-long, complimentary membership to Amazon Prime after signing up for cheaper, greener energy. Customers can sign up at octopusenergy.com.
With a technology-forward approach, Octopus Energy is driving the smart grid and accelerating the green energy transition by providing customers with access to cheaper electricity when renewable energy is abundant, while also enhancing customer experiences. As part of that experience, new Octopus Energy customers will now have the opportunity to enjoy the best of shopping, savings and entertainment from Amazon with Prime membership, including unlimited fast, free delivery; ultrafast grocery delivery and pick-up; award-winning movies and TV episodes with Prime Video; free books, games and music; and photo storage, exclusive savings and so much more.
“Expanding access to renewable energy, while providing consumers with top-tier customer service, has been our mission from day one,” said Michael Lee, CEO of Octopus Energy. “We are happy to work with Amazon Prime to invite more Texans to take advantage of our affordable, clean energy plans and reward customers with Prime membership to enjoy their favorite movies, music, books, shows and more.”
As part of its customer-first approach, Octopus Energy also recently introduced Superpower Savings, a new program that financially rewards customers who conserve energy during times of extreme heat. In addition, Octopus Energy has gained eight accolades for outstanding service in 2020 alone and Octopus Energy is the only energy supplier to ever gain the Which? Recommended award four years in a row.
To sign up for Octopus Energy, you can visit www.octopusenergy.com or reach out to This email address is being protected from spambots. You need JavaScript enabled to view it..
About Octopus Energy
Octopus Energy Group is a technology-driven, renewable energy retailer, directly supplying over 2 million customers globally with 100% green electricity at a cheaper price and with a focus on incredible customer service. Founded five years ago as a global energy retailer, Octopus Energy entered the U.S. market in 2020, forming Octopus Energy U.S. and fueling the company’s global expansion. Octopus Energy is valued at over $2 billion and is one of energy-tech’s fastest-growing private companies. To learn more, visit: www.octopusenergy.com
Every Day Made Better with Prime
Prime offers the best of shopping, savings and entertainment to more than 200 million paid members around the world. In the U.S. that includes unlimited access to award-winning movies and TV episodes with Prime Video, ad-free listening of 2 million songs plus thousands of stations and playlists with Amazon Music, free games with Prime Gaming, more than 3,000 books and magazines with Prime Reading, unlimited photo storage with Amazon Photos, and incredible savings with Prime Day. Prime was built on the foundation of unlimited fast, free shipping. Prime members enjoy ultrafast grocery delivery and pickup from Amazon Fresh and Whole Foods Market in more than 5,000 cities and towns, free Same-Day Delivery on millions of items in 47 major metropolitan areas, and free One-Day Delivery on more than 10 million items coast to coast. Prime members also receive free two-day delivery on prescriptions from Amazon Pharmacy and prescription savings at more than 60,000 participating pharmacies in the U.S. To join Prime or start a free trial, visit amazon.com/prime.
Joe Ciccarello
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TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that John Lindsay, President and Chief Executive Officer; Mark Smith, Senior Vice President and Chief Financial Officer; Dave Wilson, Vice President of Investor Relations; and other members of H&P management are scheduled to participate in the following investor conferences during September 2021. Participation by the management team may vary by event.
Investor slides to be used during the conferences will be available for download on the company’s website, within Investors, under Presentations, the morning of September 9, 2021.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.
IR Contact:
Dave Wilson, Vice President of Investor Relations
918-588-5190
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ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced that Wahid Nawabi, president and chief executive officer, Kevin McDonnell, senior vice president and chief financial officer, and Jonah Teeter-Balin, senior director corporate development and investor relations, will present at the RBC Capital Markets Global Industrials Virtual Conference on Friday, September 10, 2021 at 8:20 a.m. PT / 11:20 a.m. ET, as well as the Raymond James Defense and Government Services Conference at Nationals Park, Washington D.C. on Thursday, September 23, 2021.
Live audio webcasts of the presentations will be made available in the Events and Presentations section of the AeroVironment website at https://investor.avinc.com/events-and-presentations. A replay of the webcasts will be available for 90 days.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Jonah Teeter-Balin
+1 (805) 520-8350 x4278
https://investor.avinc.com/contact-us
DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that Scott Rowe, president and chief executive officer, will present at the 2021 RBC Capital Markets Global Industrials Virtual Conference on September 9, 2021 at 12:20 – 12:50 CDT.
A webcast of Mr. Rowe’s presentation will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; our ability to execute and realize the expected financial benefits from our strategic manufacturing optimization and realignment initiatives; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; a foreign government investigation regarding our participation in the United Nations Oil-for-Food Program; expectations regarding acquisitions and the integration of acquired businesses; our ability to anticipate and manage cybersecurity risk, including the risk of potential business disruptions or financial losses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE: INT) today announced the appointment of Jill B. Smart to the Board of Directors of the company.
“We are delighted to have Jill join our Board of Directors,” said Michael J. Kasbar, chairman and chief executive officer. “She is an accomplished human resources executive who brings a wealth of expertise in human capital management and executing organizational transformation. Jill’s skill set will be a strategic asset to our company and help us accelerate our long-term growth objectives.”
Ms. Smart spent more than 33 years at Accenture plc, a global professional services company, before retiring in 2014 after having served as Accenture’s Chief Human Resources Officer for the last 10 years. As CHRO, she was responsible for all aspects of Accenture’s global human resources ("HR") agenda including resource planning, recruitment, onboarding, training and development, staffing and deployment, performance management, employee engagement, succession planning and transitions. Prior to her various HR management roles at Accenture, Ms. Smart held business integration consulting positions for clients in a variety of industries, focusing on integration strategy, technology, business processes, functional applications and human performance components.
Since 2015, Ms. Smart has served as President of the National Academy of Human Resources (NAHR), which recognizes individuals and institutions in the HR profession for their achievements and advances the work of the HR profession through research and outreach. Ms. Smart has served as a member of the board of directors of EPAM Systems, Inc. (NYSE: EPAM), a leading global product development and platform engineering services company, since 2016 and currently serves as the chair of its compensation committee. In addition, Ms. Smart is a director at AlixPartners, LLC, a results-driven global management consulting firm that specializes in helping businesses address their most complex and critical challenges, a director at HireRight, LLC, a market-leading provider of on-demand employment background checks and screening, and a member of the advisory board at Cerity Partners LLC, an SEC-registered investment advisor and wealth management firm. Ms. Smart is the founder and CEO of JBSmart Consulting, LLC, where she provides HR advisory and coaching services.
Ms. Smart is a Fellow of the National Academy of Human Resources and the Human Resources Policy Institute, as well as a member of the Peer Roundtable for CHROs and the G100 Talent Consortium Advisory Board. Ms. Smart is also a past Trustee of the University of Illinois Board of Trustees and is currently a member of the University’s President’s Advisor Council, the Dean’s Business Council at the Gies College of Business, and the University of Illinois’ Chicago Athletic Advisory Board.
Ms. Smart will serve as a member of the company’s Compensation and Governance committees.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
For more information, visit www.wfscorp.com.
Ira M. Birns, Executive Vice
President & Chief Financial Officer
Glenn Klevitz, Vice President,
Treasurer & Investor Relations
(305) 351-4763
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The First and Only National Museum Dedicated to the Surface Navy Teams Up with the Largest Online Community of Military Veterans to Honor All Who Served in the U.S. Navy and Marine Corps
SAN PEDRO, Calif.--(BUSINESS WIRE)--#battleshipiowa--The National Museum of the Surface Navy at the Battleship IOWA, the museum for America’s Surface Navy located aboard the historic Battleship USS Iowa Museum, today announced its strategic partnership with TogetherWeServed.com (TWS), the online community connecting and honoring every American who has worn the uniform of the United States military, that will help promote and preserve the military service histories of all men and women who served in the U.S. Navy and Marine Corps.
As a sponsor and technology partner, TogetherWeServed.com is providing the National Museum of the Surface Navy promotional support via its extensive veteran member base and programming support for its Plank Owner Registration program. Registering as a Plank Owner allows individuals to memorialize their own military service or the service of their loved ones, and includes special benefits including free participation in TogetherWeServed.com which also enables them to reconnect with people they served with.
TogetherWeServed.com will also provide the platform that will showcase comprehensive military service histories of millions of U.S. military veterans on dedicated “Roll of Honor” kiosks located throughout the museum. Visitors will be able to search the Roll of Honor for veterans they knew or served with, and will have the opportunity to join the Roll of Honor themselves if they served in any branch of the U.S. Armed Forces. Visitors are invited to add a memorial profile to the Roll of Honor to remember a family member who served.
“In 2025 on the 250th birthday of the U.S. Navy, the first and only national museum dedicated to the men and women of the Surface Navy will open aboard Battleship USS Iowa,” said retired Navy Rear Admiral Mike Shatynski, Chairman of the Board of the National Museum of the Surface Navy. “Together We Served will play an integral part in not only helping us build awareness of this incredible museum among Navy and Marine veterans, but will provide the platform that will enable us to incorporate each of these distinguished veterans into the very fabric of the museum.”
“Together We Served is proud to support the National Museum of the Surface Navy,” explained Brian Foster, President and Founder of TogetherWeServed.com “This partnership presents an exciting opportunity to connect our community of Navy and Marine Corps veterans with the nation’s first national museum dedicated to the United States Surface Naval Forces.”
About TogetherWeServed.com
Launched in 2003, Togetherweserved.com is a powerful military veteran search engine and military service history archive enabling active duty and former serving members of the U.S. Armed Forces to locate and connect with those they served with. With 5 individual service branch websites and 2.1 million active duty and veteran members from WW2 to present day, Together We Served is the largest online military network of its type and considered an important archive of visual military records.
About the National Museum of the Surface Navy
Scheduled to open in 2025 aboard the historic Battleship USS Iowa Museum, the National Museum of the Surface Navy is the museum for America’s Surface Navy. The museum’s mission is to raise America’s awareness of the importance of the United States Surface Naval Forces’ role in international relations, free trade, humanitarian assistance, and technological innovation, not just in the past but today and into the future.
Located in the Port of Los Angeles in San Pedro, Calif., Battleship USS Iowa Museum is one of the top five museums and attractions in Los Angeles, bringing the ship’s history to life through in-person and virtual tours and educational programs for youth. In addition to providing a natural platform for veterans and patriotic civilians to come together as a community, Battleship USS Iowa Museum provides a wide array of impactful programs and resources that support the critical needs of our military and veterans.
Media Contact:
Ken Hagihara, APR, Fellow PRSA, MCM
Integrity Public Relations, Inc.
949-768-4423 ext. 101
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Prime contract on the $950M construction contract vehicle will support construction projects in the Hampton Roads region of Virginia.
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#cleanenergy--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and energy infrastructure company, announced that Naval Facilities Command Mid-Atlantic (NAVFAC MIDLANT) has awarded the company’s Federal Solutions team a prime contract on a large construction contract vehicle with a capacity of $950 million over 5 years. Ameresco is one of 8 awardees selected to implement projects under the contract.
Task orders on this multiple award construction contract (MACC) will support construction projects in the Hampton Roads region of Virginia, home to a large number of Navy facilities. The award of this design-build contract vehicle furthers the expansion of Ameresco Federal Solutions beyond the energy performance contracting market. It also extends Ameresco’s partnership with the NAVFAC MIDLANT, which has previously selected Ameresco to deploy more than $200M in energy infrastructure modernization projects at Portsmouth and Norfolk Naval Shipyards.
“We are excited to build on Ameresco’s support of the Navy in the Mid-Atlantic region,” said Nicole Bulgarino, EVP and General Manager, Federal Solutions at Ameresco. “Design-build construction contract vehicles like this MACC expand our capability to support the Navy’s mission by modernizing critical installation infrastructure. These investments will provide improved facilities for our servicemembers and help the Navy meet its requirements for training, sustaining, projecting, and maintaining the future force.”
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of a customer’s entry into a prime contract is not necessarily indicative of the timing or amount of revenue from such prime contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. There were no construction contracts related to this prime contract included in our previously reported awarded or contracted backlog as of June 30, 2021.
Media:
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WYOMISSING, Pa.--(BUSINESS WIRE)--#CayugaRNG--Cayuga RNG Holdings, LLC (“Cayuga RNG”) announced today that it has entered into an agreement to develop its second project to produce renewable natural gas (“RNG”) in upstate New York. This is in addition to the previously announced Spruce Haven Farm initiative. Cayuga RNG is a joint venture of UGI Energy Services, LLC (“UGIES”), a subsidiary of UGI Corporation (NYSE: UGI), and Global Common Energy, LLC (“GCE”).
As previously announced, Cayuga RNG’s first project is being developed at the Spruce Haven Farm (“Spruce Haven”), located in Cayuga County in the Finger Lakes region of New York. The project incorporates an existing anaerobic digester that generates biogas, which is used to produce renewable electricity, and is expected to be completed in the second half of calendar year 2022. Cayuga RNG contracted with Martin Construction Resource, LLC, an industry-leading supplier of RNG equipment, for the gas upgrading equipment at Spruce Haven.
Cayuga RNG’s second project will be located at Allen Farms, which is approximately five miles from Spruce Haven. Allen Farms has contracted with Cayuga RNG to supply dairy waste that will serve as the feedstock for renewable natural gas. The project will include the construction of an anaerobic digester and a combined heat and power project. Once completed in the second half of calendar 2022, the project is expected to produce 85 million cubic feet of environmentally friendly RNG each year. Cayuga RNG is actively pursuing several other projects in the region. GHI Energy, a UGIES subsidiary, will be the exclusive off-taker and marketer of RNG for Cayuga RNG.
“We are very pleased with our expanding opportunities in the Finger Lakes region of New York,” said Robert F. Beard, Executive Vice President, Natural Gas. “Our growing investment in Cayuga RNG demonstrates UGI’s continuing commitment to the development of environmentally responsible energy sources and is consistent with our stated goal of significantly reducing greenhouse gas emissions. Overall, this brings UGI’s total commitment to renewable natural gas projects to over $100 million.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States, California, and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About GCE
GCE designs, develops, owns and operates various energy projects, including utility scale power plants, renewable fuels projects, microgrids, and on-site generation projects. GCE establishes Strategic Energy Partnerships with our clients to design and implement energy projects that meet their business objectives. GCE has a broad range of experience in all aspects of energy project design, development and financing. GCE has performed innovative feasibility studies and project design; negotiated project agreements needed to enable financing, including complex power purchase agreements (PPAs); engineering, procurement, and construction (EPC) contracts; fuel supply agreements; and secured complex environmental permits in challenging regulatory environments. GCE also has extensive experience developing financial models and securing project financing.
Comprehensive information about GCE is available on the Internet at http://globalcommon.com/
About Spruce Haven Farm
Spruce Haven, a family farm founded in 1987 by Doug and Janet Young, along with Janet’s father, Dave Camp, and currently operates with nearly 2,000 cows and 1,700 heifers.
Spruce Haven works toward responsible and sustainable farming, acting as a research and development center for the dairy industry. The research at Spruce Haven Farm has contributed to products improving dairy performance globally. Spruce Haven also works to improve the lives of its employees and families both in their neighborhood and in Guatemala.
See their website http://pursuehappiness.farm for details of their goals and progress.
About Allen Farms
Allen Farms, established in the early 1950s, is owned and operated by Duane Allen and his brother Gary Allen. The Allen Farms facility in Scipio, New York currently operates with approximately 3,000 cows and 2,000 heifers.
Allen Farms advocates for land stewardship and resource conservation. They appreciate the opportunity to contribute to environmentally attractive energy development and believe that their RNG project will demonstrate how larger dairy farms can benefit both their employee families and many others through their small contribution to reduction of atmospheric methane impacts.
Investor Relations
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”) today announced that its two Greek Important Projects of Common European Interest (“IPCEI”) have been approved by a joint decision by the Greek Minister of Development and Investments, Mr. Adonis Georgiadis, and the Greek Minister of Environment, Energy, and Climate Change, Mr. Kostas Skrekas. The White Dragon and Green HiPo projects, each of which prominently features Advent’s innovative fuel cell technology, were among five projects, out of 20 submitted, that received approval and were selected after evaluation by a special Interministerial Committee of Experts.
The scope of the programs, as submitted by Advent and the White Dragon consortium of companies, is set to replace Greece’s largest coal-fired plants, with renewable solar energy parks, which will be supported by green hydrogen production (4.65GW), and fuel cell heat and power production (400MW). The projects are part of the “Hydrogen Technologies” IPCEI and will now move towards approval at European Union (“EU”) level. As a next step, Advent will demonstrate before the European Commission (DG Competition) the economic, environmental, financial, social, technical feasibility of the project and the positive spillover effects to the European economy and society. Upon successful assessment, Advent will receive a final notification from the European Commission.
Dr. Vasilis Gregoriou, Advent Chairman and CEO, stated, “We are thrilled with this news that the White Dragon and Green HiPo projects have been approved by the Greek government in the first wave of the IPCEI projects. This decision demonstrates the commitment by Greece and the EU to rapidly decarbonize power production.”
About White Dragon
The White Dragon project aims to replace the coal-fired power plants across the region of Western Macedonia and transition to clean energy production and transmission, with the ultimate goal of fully decarbonizing Greece's energy system. The project plans to use large-scale renewable electricity to produce green hydrogen by electrolysis in the region. This hydrogen would then be stored, and -- through Advent’s high-temperature proton exchange membrane (HT-PEM) fuel cells -- supply all of Greece with clean electricity, green energy, and heat.
Advent’s fuel cells provide a combination of both heat and electrical power. The heat generated by the project would initially be used in conjunction with the district heating networks of Western Macedonia and in the future in other applications that require a heating and/or cooling system, such as industrial workings, data centers, and greenhouses. Unlike competing fuel cells, Advent’s HT-PEM fuel cells are ideal for heat and power applications as they operate at the 160-2000C range and can produce quality heat, in addition to electricity -- bringing the combined efficiency of fuel cells to 85 percent. In addition, the high-temperature operation allows Advent fuel cells to operate with natural gas, a natural gas-hydrogen blend, and eventually with green hydrogen.
The White Dragon project also aims to develop an integrated Hydrogen Industrial Research Center within the Hydrogen High Technology, Research, Development & Innovation Center that is anticipated to be created in Western Macedonia.
About Green HiPo
The Green HiPo project concerns the development, design, and manufacturing of HT-PEM fuel cells for the production of heat and power. The project is expected to take place mainly in Western Macedonia, and aid significantly in the region’s transition from a coal-based economy to a greener economic model. It is a complementary project to White Dragon and will, if both are fully approved, produce the fuel cells that will power White Dragon’s green energy plan.
The electricity and heat provided by Advent’s fuel cells will be integral for Greece’s energy transition as the country plans to decommission all coal-fired power plants by 2028. A new state-of-the-art facility in Western Macedonia will be home to the production of fuel cells and will contribute to the economic development of the region by providing approximately 1,400 jobs in innovative sustainable technology. The facility will initially manufacture fuel cells of 15kW/units, gradually reaching 120kW, and then 1MW scale single units before finally becoming a multi-MW platform.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, and the critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With approximately 190 patents issued, licensed, or pending for its fuel cell technology, Advent holds the IP for next-generation HT-PEM that enable various fuels to function at high temperatures under extreme conditions – offering a flexible "Any Fuel. Anywhere." option for the automotive, aviation, defense, oil and gas, marine and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the Green HiPo or White Dragon projects; the potential that either or both of the White Dragon and Green HiPo projects do not receive funding or final approval, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
James Goldfarb / Emily Mohr
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The company announces an additional $500,000 contribution after the storm’s remnants hit the Northeast
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced it will contribute an additional $500,000 to the American Red Cross to assist relief efforts in the states affected by Hurricane Ida and its remnants. The latest donation brings the company’s total contribution to the organization’s Ida relief efforts to $1 million.
“We want those affected by Ida to know they are not alone,” said Phillips 66 Chairman and CEO Greg Garland. “The Red Cross is at the fore as the American people and industry marshal resources to help people recover and rebuild, and we are proud at Phillips 66 to support those efforts.”
The storm made landfall on Aug. 29 as a powerful Category 4 hurricane, knocking out power across Louisiana and bringing devastating floodwaters before continuing its march north. Phillips 66 operates assets in both Louisiana and New Jersey, and has confirmed that all of its employees in the affected areas are accounted for and safe.
“The American Red Cross, our volunteers and partners are working around the clock to provide help and hope to thousands of people impacted by Hurricane Ida,” said Gail McGovern, president and CEO of the American Red Cross. “We cannot thank Phillips 66 enough for their generosity, which will enable us to provide shelter, relief supplies, food and comfort to families as they begin to rebuild their lives after this catastrophic storm.”
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $57 billion of assets as of June 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
Bernardo Fallas (media)
855-841-2368
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DUBLIN--(BUSINESS WIRE)--The "Global Automotive Lubricant Market Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.
Global automotive lubricants market is expected to witness a significant growth rate during the forecast period.
Factors such as the increasing demand for efficient automotive vehicles due to the surging oil prices are expected to drive the automotive lubricants market in the forecasted years.
Furthermore, this increasing demand is attributed to the growing need for high-performance engines. The increasing construction industry is also expected to drive the demand for the commercial vehicle for construction activities, thus increasing the demand for the automotive lubricants market in the forecasted years.
However, the increase in sales for battery electric vehicles and the increasing demand for hybrid engines that could decrease the demand for engine oil is expected to restrain the global automotive lubricant growth in the forecasted years.
Engine Oil is the most used automotive Lubricant globally and is expected to drive the global automotive lubricant market. The main purpose of engine oil is to reduce wear and friction on moving parts and clean the engine from varnish and sludge. It also helps to neutralize acids that originate from fuel and oxidation of lubricants, thus improving the sealing of piston rings.
Engine oil plays a key role in cooling the engine by extracting heat away from moving parts. The increasing crude oil prices have forced people to opt for high mileage engine oils as it helps to prevent oil leaks and reduce oil consumption. The increasing car age globally promotes the use of engine oils and other lubricants to maintain the efficiency and performance of the vehicle. The recommended engine oil change period is at about 5, 000 to 7, 500 miles to enhance the drive experience.
Owing to the rapid urbanization in emerging countries like China and India, the sales of commercial vehicles such as trucks, tractors, and trailers are on the surge. High-duty motor engine oil has high-viscosity engine oils, capable of sustaining strict emission standards and extreme geographical conditions. These factors are expected to drive the demand for automotive lubricants in the forecasted years.
Major global players in the industry are Royal Dutch Shell International, China National Petroleum Corporation, Chevron Corporation, ExxonMobil Corporation, Phillips Company, Kluber Oil International, Hindustan Corporation Limited (HPCL), among others.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
4. Industry Analysis
5. Market Segmentation & Forecast
6. Regional Market Analysis
7. Key Company Profiles
8. Competitive Landscape
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/ow6z
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it is hosting virtual investor meetings at the Barclays CEO Energy–Power Conference Wednesday, September 8, 2021.
The latest investor deck, which may be used to facilitate investor meetings, can be accessed under the Investors tab on the Enterprise website.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
OKLAHOMA CITY--(BUSINESS WIRE)--BCE-Mach III LLC recently closed an acquisition of approximately 18,200 net acres (98 percent held by production) of producing properties primarily across Blaine, Custer and Dewey Counties, Oklahoma. The bolt-on acquisition includes approximately 4,400 net royalty acres and approximately 17mmcfe/d of production.
BCE-Mach III LLC was formed in early 2020 and has now closed on four separate acquisitions across the Anadarko Basin. In total, Bayou City Energy Management LLC (“BCE”) and Mach Resources LLC (“Mach”) have made nine separate acquisitions since 2018 across the three BCE-Mach portfolio companies (collectively “BCE-Mach”).
BCE-Mach anticipates generating more than $300 million of operating cash flow in 2021 with a net debt to EBITDA multiple of less than 0.2x.
“We remain active and successful in closing acquisitions that fit our profile,” said CEO Tom Ward. “In early 2021, BCE-Mach made a concerted effort to add natural gas reserves to our portfolio. Our last two acquisitions were over 70 percent weighted toward natural gas while prices have increased more than 80 percent this year.”
“Our low-leverage profile allows the BCE-Mach enterprise to remain flexible with respect to hedging and shareholder distributions and opportunistic with respect to developmental operations and acquisitions,” said Will McMullen, Founder & Managing Partner at BCE. “The disciplined approach we’ve employed on all of the above will continue to allow us to efficiently grow our already vast position in the Mid-Continent.”
Mach is an independent oil and natural gas producer focused on acquiring, exploring and developing high-return, low-cost projects. Founded in January 2017, the company pursues assets with production history and development opportunity. Mach is headquartered in Oklahoma City, OK with 80 corporate team members and 220 field team members across seven field offices.
For more information about Mach, please visit www.machresources.com, call (405) 252-8100 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about BCE, please visit www.bayoucityenergy.com, call (713) 400-8200 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Lisa Lloyd, (405) 973-6960
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Former ENGIE Chief Science and Technology Officer Joins EIP to Strengthen Research Team
NEW YORK--(BUSINESS WIRE)--Energy Impact Partners (EIP), a global investment firm leading the sustainable energy transition, today announced that Dr. Michael E. Webber has joined the team as Chief Technology Officer (CTO).
The addition of Dr. Webber to EIP’s in-house research and innovation team will expand its technical depth providing further insights for EIP’s investors, strategic partners and portfolio companies. With Dr. Webber’s deep technical expertise, he will also strengthen EIP’s strategy and diligence capabilities, focusing on the firm’s efforts to invest in revolutionary climate technologies.
With over 25 years of experience in technology, industrial instrumentation, and the energy sector, Dr. Webber’s expertise spans research and education at the convergence of engineering, policy, and commercialization on topics related to innovation, energy, and the environment. Prior to joining EIP, Dr. Webber served as Chief Science and Technology Officer at ENGIE, a global energy and infrastructure services company based in Paris, France where he also served on the investment committee of their venture arm. He is currently also the Josey Centennial Professor in Energy Resources at the University of Texas at Austin.
Dr. Webber has authored more than 400 publications, holds 6 patents, and serves on the advisory board for Scientific American, GTI (formerly known as the Gas Technology Institute), and Sustainable America (a non-profit dedicated to reducing fuel consumption and food waste). He helped lead UT Austin’s Clean Energy Incubator from 2008-2018. He was selected as a Fellow of ASME and as a member of the 4th class of the Presidential Leadership Scholars, which is a leadership training program organized by Presidents George W. Bush and William J. Clinton.
Dr. Webber earned a B.S. and B.A. from UT Austin, and M.S. and Ph.D. in mechanical engineering from Stanford University.
“We are humbled and thrilled to see Dr. Webber join our team. His unique expertise and experience in revolutionary technologies fighting climate change will be a great asset for our investment teams, strategic partners and portfolio companies,” said Hans Kobler, Founder and Chief Executive Officer at EIP. “We are looking forward to doing great deals together.”
“EIP brings a long-term perspective and a global view to the challenges of deep decarbonization and has established an excellent reputation for their thorough diligence, extensive pipeline of opportunities, and careful stewardship of investment. It’s rare to see a platform combine an eagerness for cutting-edge revolutionary innovations with a patient timeline for success that rests on a solid technical understanding of the underlying science and engineering fundamentals. I really look forward to joining the team of bright, passionate experts,” said Dr. Michael E. Webber, Chief Technology Officer at EIP.
Dr. Webber complements the recent addition of Dr. Gregory Thiel as the firm’s Director of Technology on EIP’s research and innovation team, an industry leading team focused on providing transformative insights for EIP’s partners, portfolio companies and investments.
About Energy Impact Partners
Energy Impact Partners (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London and Cologne. For more information on EIP, please visit www.energyimpactpartners.com.
Tori McDonnell
Silverline Communications – on behalf of EIP
703-338-2362
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SHENZHEN, China--(BUSINESS WIRE)--#CommunicationSolutions--Hytera, together with its subsidiaries Norsat, have recently released a white paper to highlight the importance of radio over satellite solutions on a global scale.
Communication Challenges Faced by Industries
As communication requirements evolved drastically, it has become imperative to enhance connectivity between organizations, world-wide teams, and employees on the field. Radio communications play an essential role in this regard, especially in public safety, emergency rescue, firefighting, fleet operations and mining applications. Most radio networks use line of sight propagation or have fixed repeater stations.
When there is no radio network signal coverage on site, command center is not able to reach the personnel on site. In this case, the use of communications satellites as a communications repeater can provide a remote cross-territory transmission route for on-site radio network communications, to achieve voice, data, image transmission; improve the capacities of emergency handling, decision making, command and control, emergency linkage, resource allocation; and ensure full-time, all-area and all-weather communications.
Benefits of Radio Over Satellite Communication
Remote radio networks can be unified with fixed landlines, cellular systems, or Push-To-Talk (PTT) radios facilitating encrypted, real-time direct voice and data communications to headquarters, control centers or operations rooms. With the right systems engineering and technology partner, Radio Over Satellite solutions are easy to manage and deploy. They can be operated remotely and unattended after installation, making them perfect solutions for communication in uncertain environments.
Careful engineering is required to ensure audio quality, latency, jitter, and bandwidth of digital radio systems over satellite. Congestion and management of remote networks can be mitigated with careful planning, QOS, SLAs, TCP acceleration and bandwidth compression. Testing has also confirmed that there is no discernable degradation in audio quality using radio over satellite systems. Thorough planning and designing of network to maximize limited bandwidth usage and link budget are required for projects involving these applications.
As a global leading provider of Professional Mobile Radio (PMR) solutions, Hytera not only provides users with TETRA, DMR, PDT, LTE products and solutions, but also combines Norsat's rich experience in satellite communication to jointly offer the entire set of services from solution design to project installation. By making full use of the advantages of satellite communications, Hytera has established a reliable and stable radio communication network over satellite for business- and mission-critical users, supporting command and dispatch system services to meet the communication needs of daily operation and emergency response.
For more information about Hytera’s satellite communication solutions, please visit: https://pardot.hytera.com/l/860473/2021-08-11/21klhy
About Hytera
Hytera Communications Corporation Limited is a leading global provider of professional communications technologies and solutions. With voice, video and data capabilities, Hytera provides faster, safer, and more versatile connectivity for business and mission critical users. Hytera enables customers to achieve more in both daily operations and emergency response to make the world more efficient and safer.
About Norsat
Norsat International Inc. was acquired by Hytera in 2017. Norsat was founded in 1977, is a leading provider of innovative communication solutions that enable the transmission of data, audio and video for remote and challenging applications. Norsat’s products and services include customizable satellite components, portable satellite terminals, maritime solutions and satellite networks.
Lingran Tao
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today it has signed an agreement with an independent validator, non-profit MiQ, to begin the certification process for natural gas produced at its Permian Basin facilities at Poker Lake, New Mexico. Certified natural gas validates emissions reduction efforts and helps customers meet their emissions goals.
MiQ is a partnership between RMI, formerly the Rocky Mountain Institute, and SYSTEMIQ, a global sustainable development consultancy. It developed and maintains the “MiQ Standard,” a framework that assesses and grades methane intensity, enhanced monitoring technology deployment, and operating practices that promote a culture of emissions management and continuous improvement. A MiQ accredited independent auditor performs the assessment, and MiQ issues tradeable certificates based on the grade achieved.
“We are reducing methane emissions responsibly and economically, and by working with MiQ, we can provide our customers with credible third-party validation of those efforts,” said Bart Cahir, senior vice president of unconventional at ExxonMobil. “As we improve our operations, certifying our natural gas will help our customers achieve their goals and support a lower-carbon future.”
ExxonMobil has selected Poker Lake for certification because of the wide range of technology solutions already in place, scale advantages, proximity to nearby markets, and growth potential as production in New Mexico increases. The company has expanded use of aerial LiDAR™ imaging and SOOFIE methane detection technologies in the region and is evaluating additional next-generation applications, including satellites and artificial intelligence, as part of its ongoing initiatives to find smarter and faster ways to detect and mitigate emissions.
Approximately 200 million cubic feet of natural gas per day from Poker Lake will be assessed and certified. The certified natural gas could be available to customers by fourth quarter 2021. ExxonMobil is considering expanding certification to include other Permian Basin fields and shale production areas, including Appalachia and Haynesville.
“We’re pleased to be working with ExxonMobil at Poker Lake and look forward to a fruitful long-term partnership that creates a differentiated, more transparent and cleaner gas market,” said Georges Tijbosch, senior advisor at MiQ. “These steps and the rapid reduction of methane emissions is critical to the world achieving its climate goals.”
ExxonMobil exceeded its goals to reduce methane emissions by 15 percent and flaring by 25 percent by year-end 2020, compared to 2016 levels. The company has conducted more than 23,000 voluntary methane leak surveys across more than 9,500 sites and eliminated all high-bleed pneumatic devices across its U.S. unconventional production.
ExxonMobil has previously announced plans to further reduce greenhouse gas emissions in its operations by 2025, compared to 2016 levels. The plans include a 15 to 20 percent reduction in greenhouse gas intensity of upstream operations. The reductions will be supported by a 40 to 50 percent reduction in methane intensity and a 35 to 45 percent reduction in flaring intensity. The company aims for industry-leading greenhouse gas performance across its businesses by 2030.
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.
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Cautionary Statement
Outlooks; projections; goals; descriptions of strategic plans and objectives; plans to reduce future emissions intensity and the expected resulting absolute emissions reductions; emission profiles of future developments; methane capture and leak results from operational and technology efforts; the effectiveness of third party certifications; energy market evolution; and other statements of future events or conditions are forward-looking statements. Actual future results could differ materially due to a number of factors. These include the development and pace of supportive market conditions and national, regional and local policies relating to emission reductions, including methane leaks; changes in laws and regulations including laws and regulations regarding greenhouse gas emissions, carbon costs, and taxes; trade patterns and the development and enforcement of local, national and international mandates and treaties; unforeseen technical or operational difficulties; the ability to bring new technologies to commercial scale on a cost-competitive basis, including large-scale hydraulic fracturing projects and methane leak detection technologies; 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.
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Commaris debuts flagship product at Commercial UAV Expo in Las Vegas
LAS VEGAS--(BUSINESS WIRE)--#UAV--Terrafugia Inc. today announces the launch of a new brand, CommarisTM, and the brand’s first product, the SEEKERTM, an innovative, electric, fixed-wing/VTOL hybrid aircraft designed explicitly for autonomous commercial aerial applications. Commaris will debut the SEEKER at the Commercial UAV Expo in Las Vegas from Sept. 7 through Sept. 9.
The SEEKER has a long-endurance capability with more than three hours of flight time without a battery change, saving time and reducing costs while supporting multiple payload configurations at a top speed of over 60 mph. The UAV employs an advanced, fully composite airframe with a wingspan of 15 feet and a payload lifting capability of up to 10 pounds. Its modular design is easy to assemble and disassemble in the field in under three minutes.
"We are very excited to launch our new brand, Commaris, and its first product, the SEEKER. This UAV is designed to perform a wide variety of commercial inspection operations in applications such as power, gas, oil, mapping, agriculture, and security,” said Kevin Colburn, President of Terrafugia and Commaris. “Our team of experienced aviation professionals has created an extremely capable, commercial-grade UAV that, in many situations, will deliver results that typical rotary-wing UAVs or helicopters cannot come close to providing.”
The SEEKER's innovative, aerodynamic design includes powerful but quiet electric motors that help it achieve a noise signature of only 40 decibels on the ground and near-silence at 500 feet AGL. The UAV is the ideal aircraft for security, powerline patrols, and missions operating in noise-sensitive environments, ensuring operations will be completed quickly and quietly.
The SEEKER’s large payload-carrying capability will be customizable with a variety of modular options, such as a 30x optical zoom EO/IR camera for inspection, a 120-megapixel high-resolution camera for terrain mapping and 3D modeling, a six-band multispectral camera designed for precision agriculture analysis, a LiDAR system, a laser methane sensor, or a corona discharge sensor, most of which will feature the ability to stream data to the operator in near-real time.
Commaris will debut the SEEKER during a live demonstration at the UAV Expo's "Beyond The Cage Live Outdoor Flying Demonstrations" taking place on Sept. 7, 2021, at 9:25 a.m. PT at the Henderson Equestrian Park North. Representatives will be available for questions after the demonstration and at the Expo’s exhibitor hall at the Mirage Las Vegas, booth #407.
To learn more and get in touch, please visit www.commaris.com.
About Commaris
CommarisTM, a brand of Terrafugia, Inc., delivers unmanned aerial vehicles (UAVs) for commercial operations in power, gas, oil, mapping, agriculture, security, and more. Its flagship UAV, the SEEKERTM, provides industry-leading flight times with ultra-low noise output, fast and precise vertical takeoff and landing, and dual-GPS systems with automated route planning. The SEEKER’s large payload-carrying capability is customizable with a variety of modular options, such as a 30x optical zoom EO/IR camera for inspection, a 120-megapixel high-resolution camera for terrain mapping and 3D modeling, a six-band multispectral camera designed for precision agriculture analysis, a LiDAR system, a laser methane sensor, or a corona discharge sensor, most of which will feature the ability to stream data to the operator in near-real time. Terrafugia and Commaris are members of the Geely Technology Group. For more information on Commaris, please visit www.Commaris.com.
About Terrafugia
Terrafugia was founded in 2006 with the goal of delivering the world’s first practical flying car. After making steady progress, in 2017, Terrafugia was acquired by the Geely Holding Group and began leveraging contributions from sister companies Volvo Cars, Lotus Cars and CEVT. In early 2021, Terrafugia received the first FAA airworthiness certificate for a roadable aircraft in 60 years.
Today, as part of the Geely Technology Group, Terrafugia’s team of experienced professionals is focused on the launch of our new brand, CommarisTM, which delivers unmanned aerial vehicles (UAVs) for commercial inspections in power, gas, oil, construction, agriculture, security, and other industries.
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