FREDERICTON, New Brunswick--(BUSINESS WIRE)--The Nippon Foundation-GEBCO Seabed 2030 Project has entered a technical cooperation agreement with the UK Hydrographic Office (UKHO), a world-leading center for hydrography specializing in marine geospatial data, and Teledyne CARIS, the leading developer of marine mapping software and a business of Teledyne Technologies Incorporated (NYSE:TDY). The Memorandum of Understanding, announced on the first World Hydrography Day to fall within the UN Decade of Ocean Science for Sustainable Development, will see the parties work together to advance the effort associated with producing the definitive map of the seafloor by the year 2030.
The announcement also coincides with the release of the latest GEBCO Grid figure, with 20.6% of the world’s entire seabed now mapped. When Seabed 2030 was launched in 2017, only 6.0% of the oceans had been mapped to modern standards. The latest figure has seen a growth of 1.6% from last year’s data, an increase equating to around half the size of the U.S.
Seabed 2030 is a collaborative project between The Nippon Foundation and GEBCO to inspire the complete mapping of the world's ocean by 2030, and to compile all bathymetric data into the freely available GEBCO Ocean Map. General Bathymetric Chart of the Oceans (GEBCO) is a joint project of the International Hydrographic Organization (IHO) and the Intergovernmental Oceanographic Commission (IOC), and is the only organization with a mandate to map the entire ocean floor.
For over 40 years, Teledyne CARIS has been the leader in the development of hydrographic and marine geospatial software. Its flagship Hydrographic Production Database (HPD) is used extensively by the UKHO to produce its charts. One of Teledyne CARIS’ newest products – CARIS Onboard360™ – is a near real-time and autonomous data acquisition and processing package.
The UK Hydrographic Office is a world-leading center for hydrography, specializing in marine geospatial data, from seabed to surface, to help others make the best use of the marine environment. This includes partnerships with governments and researchers to support the sustainable growth of the Blue Economy and the protection of our oceans. UKHO also make this data available through their portfolio of ADMIRALTY Maritime Data Solutions, which include a world-leading range of navigational products that can be found on over 90% of ships trading internationally.
“Seabed 2030 is delighted to announce this new partnership with UKHO and Teledyne CARIS on the occasion of World Hydrography Day. As we enter the newly-launched UN Decade, but also final decade of Seabed 2030, we remain humbly aware of what we have yet to achieve – just under 80% of the world’s seabed still to be mapped,” said Jamie McMichael-Phillips, Seabed 2030 Project Director. “Last year’s GEBCO Grid saw an increase of 4% – this was made possible due to significant contributions of existing bathymetric data. Whilst this year’s growth is commendable in light of the global pandemic, it should act as a testament to the value of collaborative working to achieve our end goal, which is ultimately for the benefit of humanity.
“As we enter this final stretch, we call on everybody to get involved and contribute to our efforts. Together, we can make better use of the world’s oceans in a sustainable way. I am confident we will reach our goal as international collaboration grows.”
As part of the new agreement, the three organizations will use a new AI tool developed by Teledyne CARIS and the UKHO as part of their ADMIRALTY Maritime Data Solutions portfolio. The AI-Based Bathymetry Data Noise Cleaning Capability is thought to benefit Seabed 2030 by providing processing efficiency of incoming multibeam bathymetry dataset typical of the type to be received by the Project.
“We are very pleased to be supporting this project with AI technology,” said Edwin Roks, Executive Vice President and Segment President Teledyne Digital Imaging. “Seabed 2030 represents an opportunity for a unique collaboration whereby new AI methods are being developed and delivered to help solve the data processing bottlenecks created by the huge quantities of data needed to map the world’s oceans over the next decade.”
“We are extremely excited to enter this new partnership with Teledyne CARIS and The Nippon Foundation-GEBCO Seabed 2030 Project,” said Peter Sparkes, Chief Executive at the UK Hydrographic Office. “Seabed mapping data plays a vital role in supporting maritime trade, the protection of our oceans and the fight against climate change – by keeping mariners safe and supporting sustainable development. Through use of this new capability, we hope to significantly reduce the time it takes to process this foundational data from days to hours – allowing us to build our understanding of the world’s oceans at a greater pace.
“We believe that collaborations like these can help to build a better future for all, so the UKHO will continue to build on this partnership and work with others across the maritime community to support safe, secure and thriving oceans.”
All data collected and shared with the Seabed 2030 Project is included in the GEBCO global grid, the most complete bathymetric dataset of the world’s ocean floor.
For more detailed information on The Nippon Foundation-GEBCO Seabed 2030 Project, please visit our website at seabed2030.org or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Teledyne CARIS
Teledyne CARIS is part of the Teledyne Imaging group. For 40 years, Teledyne CARIS has been the leading developer of marine mapping software. We offer a highly effective Ping-to-Chart™ solution for acquisition, near real-time processing, robust quality control of sonar data, and the creation and distribution of maps, charts, and digital datasets. Find out more about Teledyne CARIS.
About The Nippon Foundation-GEBCO Seabed 2030 Project
The Nippon Foundation-GEBCO Seabed 2030 Project is a collaborative project between The Nippon Foundation and GEBCO. The Seabed 2030 Project, launched at the United Nations Ocean Conference in 2017 by Chairman Sasakawa of The Nippon Foundation, coordinates and oversees the sourcing and compilation of bathymetric data from different parts of the world’s ocean through its five centers into the freely-available GEBCO Grid. Four Regional Centers cover the Southern Ocean, the Arctic and North Pacific Ocean, the Atlantic and Indian Oceans, and the South and West Pacific Ocean. These feed data products into the Global Data Centre. Find out more about the project and how to get involved.
About the UK Hydrographic Office
The UK Hydrographic Office is a leading center for hydrography, providing marine geospatial data to inform maritime decisions. We work with a wide range of data suppliers and partners to support maritime navigation, safety, security and marine development around the UK and worldwide. We make location-based information available through ADMIRALTY Maritime Data Solutions, our world-leading range of charts, publications and custom data sets. Our use of marine data and technology, combined with our expertise, ensures we continue to innovate and provide a wider range of solutions. We source, process and provide access to location-based information, ranging from seabed to surface. This enables our partner organizations to make critical maritime decisions – informing the sustainable use and management of the marine environment and supporting the development of the blue economy. Find out more about the UK Hydrographic Office.
Media Contact:
Jennifer Parham
Teledyne CARIS
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NEW YORK--(BUSINESS WIRE)--Climate Change Crisis Real Impact I Acquisition Corporation (NYSE: CLII) (“CLII”), a publicly-traded special purpose acquisition company, reminds its stockholders to vote in favor of the previously announced business combination (the “Business Combination”) with EVgo Services LLC (“EVgo”), the nation’s largest public fast charging network for electric vehicles (“EVs”) and first powered by 100% renewable electricity.
Stockholders who owned common stock of CLII as of the close of business on May 19, 2021 (the “Record Date”), may vote their shares. Stockholders as of the Record Date continue to have the right to vote their shares, regardless of whether such stockholders subsequently sold their shares and do not own such shares as of the date they cast their vote.
The special meeting to approve the pending Business Combination (the “Special Meeting”) is scheduled to be held on June 29, 2021 at 10:00 a.m. Eastern Time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at https://www.cstproxy.com/climatechangecrisisrealimpacti/2021.
Additional information on how stockholders of record may vote their shares can be found at https://www.climaterealimpactsolutions.com/cris1-vote.
Every stockholder’s vote is important, regardless of the number of shares held. Accordingly, all CLII stockholders who held shares as of the Record Date who have not yet voted are encouraged to do so as soon as possible and by no later than 10:00 a.m. Eastern Time on June 29, 2021. For the avoidance of doubt, CLII stockholders who owned shares as of the Record Date and subsequently sold all or a portion of their shares are STILL entitled to vote, and are encouraged to do so. CLII’s board of directors recommends you vote “FOR” the Business Combination with EVgo and “FOR” all of the related proposals described in the definitive proxy statement on Schedule 14A (the “Proxy Statement”) filed by CLII with the Securities and Exchange Commission (“SEC”) on May 27, 2021.
These are the two easiest and fastest ways to vote – and they are both free:
Additionally, you can also vote by mail:
YOUR CONTROL NUMBER IS FOUND ON YOUR VOTING INSTRUCTION FORM. If you did not receive or misplaced your Voting Instruction Form, contact your bank, broker or other nominee to obtain your control number in order to vote. A bank, broker or other nominee is a person or firm that acts as an intermediary between an investor and the stock exchange who can help you vote your shares.
If any individual CLII stockholder has not received the Proxy Statement, such stockholder should (i) confirm his or her Proxy Statement’s status with his or her broker or (ii) contact Morrow Sodali LLC, CLII’s proxy solicitor, for assistance via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or toll-free call at (800) 662-5200. Banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400.
Important Information and Where to Find It
In connection with the proposed Business Combination between EVgo and CLII and related transactions (the “Proposed Transactions”), CLII has filed the Proxy Statement with the SEC, which was distributed to holders of CLII’s common stock in connection with CLII’s solicitation of proxies for the vote by CLII’s stockholders with respect to the Proposed Transactions and other matters as described in the Proxy Statement. Investors and security holders and other interested parties are urged to read the Proxy Statement, and any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLII, EVgo and the Proposed Transactions. Investors and security holders may obtain free copies of the Proxy Statement and other documents filed with the SEC by CLII through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: Climate Change Crisis Real Impact I Acquisition Corporation, 300 Carnegie Center, Suite 150, Princeton, New Jersey 08540. 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.
Participants in the Solicitation
CLII and EVgo and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transactions. Information about the directors and executive officers of CLII and EVgo is set forth in the Proxy Statement. Stockholders, potential investors and other interested persons should read the Proxy Statement carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.
Forward Looking Statements
Certain statements in this press release that are not historical facts may constitute forward-looking statements are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. 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. All statements, other than statements of present or historical fact included in this press release, regarding CLII’s proposed business combination with EVgo, CLII’s 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. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of CLII and EVgo 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 CLII or EVgo. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, 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 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 stockholders of CLII or EVgo is not obtained; failure to realize the anticipated benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to EVgo; the amount of redemption requests made by CLII’s stockholders; the overall level of consumer demand for EVgo’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of EVgo’s customers; EVgo’s ability to implement its business strategy; changes in governmental regulation, EVgo’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to EVgo’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response; stability of EVgo’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 pandemic; the impact that global climate change trends may have on EVgo and its suppliers and customers; EVgo’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, CLII’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect CLII’s or EVgo’s financial results is included from time to time in CLII’s public reports filed with the SEC, as well as the Proxy Statement that CLII has filed with the SEC in connection with CLII’s solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed business combination. If any of these risks materialize or CLII’s or EVgo’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 CLII nor EVgo presently know, or that CLII and EVgo 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 CLII’s and EVgo’s expectations, plans or forecasts of future events and views as of the date of this press release. CLII and EVgo anticipate that subsequent events and developments will cause their assessments to change. However, while CLII and EVgo may elect to update these forward-looking statements at some point in the future, CLII and EVgo specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing CLII’s or EVgo’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.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
About CLII
CLII is a special-purpose acquisition company (“SPAC”) formed to identify and acquire a scalable company making significant contributions to the fight against the climate crisis. CLII is co-sponsored by private funds affiliated with Pacific Investment Management Company LLC (“PIMCO”), which has more than $640 billion in sustainability investments across its portfolios. CLII is led by a seasoned operations and leadership team that has decades of experience at the intersection of climate change and capitalism, and includes veterans from NRG, Credit Suisse, General Electric and Green Mountain Power. For more information, please visit www.climaterealimpactsolutions.com/.
About EVgo
EVgo is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s charging network serves over 65 metropolitan areas across 34 states, owns and operates the most public fast charging locations in the US. and serves more than 250,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet. EVgo’s parent company is LS Power, a New York-headquartered development, investment and operating company focused on leading edge solutions for the North American power and energy infrastructure sector. On January 22, 2021, EVgo announced that it entered into a definitive business combination agreement with CLII (NYSE: CLII). For more information visit evgo.com and lspower.com.
CLII
For Investors:
Dan Gross
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For Media:
Isaac Steinmetz
Director of Media Relations
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646-883-3655
EVgo
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LS Power
Steven Arabia
Director, Government Affairs & Media Relations
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609-212-3857
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a three-year contract with North Oil Company offshore Qatar for VALARIS JU-110, a heavy-duty modern jackup. The contract is anticipated to begin in the fourth quarter of 2021.
About Valaris Limited
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.
Cautionary Statements
Statements contained in this press release 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. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous 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 statements, except as required by law.
Investor & Media Contact:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
DUBLIN--(BUSINESS WIRE)--The "Marine Electronics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global sea trade is expected to grow with 3.8% CAGR from 2021 to 2029.
Companies Mentioned
Surge in marine trade among countries of the world and increasing investment in marine electronics technology by major players of the market is driving the global marine electronics market. Similar to the U.S. and Indonesia, many countries of world have made installation of automatic identification system (AIS) chips on vessels mandatory. Beyond this, there is increase in number of tourists preferring coastal areas and cruise ships & ferries. This tourism trend has forced the ship-owners to keep their vessels technologically upgraded. Such market scenario has further helped the marine electronics market to expand in 2020.
Digitalization and e-commerce has ensured high growth in sea-trade activities. Similarly, there is significant growth in the demand for boats and ships for fishing, logistics, and recreational water activities across the world since the last few years. Greece, Japan, China, Singapore and the U.S. are the top ship owning nations. According to United Nations Conference on Trade and Development (UNCTAD). In addition to above, security and surveillance is another factor influencing the market growth. Increase in number of RADARs, submarines, underwater robots has further buoyed the market growth reaching US$ 4.98 Bn in 2020 and further expected to grow with a CAGR of 5.12% during the forecast period.
Navigation Segment remain the Major Contributor to Market
Growing adoption of new technologies such as augmented reality (AR) for navigation has ensured large market share for the navigation segment in 2020. Navigation system displays high quality satellite images and navigation charts for better navigation. This has not only helps the ship-owners for standardize reporting but also enhances safety & security while navigating. Further, new trend observed in the market is the use of an integrated navigation system having greater accuracy and which cost less than conventional system. Altogether, the navigation segment captured over 35% share of global marine electronics market in 2020. On the other hand, communication segment is expected to register the highest CAGR during the forecast period on account of advancement in SatCom-based communication technology and growing trend of its use.
North America to remain the Largest Market
In 2020, North America was the largest regional market, in terms of revenue of the global marine electronics market. Major defense companies such as Thales Group, Raytheon Company, Northrop Grumman Corporation and FLIR Systems, Inc. are well established in the U.S. These companies are investing heavily in developing new marine technologies such as new marine camera introduced by FLIR Systems, Inc. This new M300 Series thermal camera is installed with advanced awareness-enhancing technologies, safer navigation, and seamless integration with onboard boat systems. Secondly, the U.S. navy is highly interested in buying unmanned undersea vehicle and submarines. Overall, North America gathered with over 35% share in global marine electronics market in 2018. The U.S. navy is upgrading its fleet in the wake of rising geopolitical tension and trade tension with China.
Key questions answered in this report
Key Topics Covered:
1. Preface
2. Executive Summary
3. Market Dynamics
3.1. Introduction
3.2. Market Dynamics
3.3. Attractive Investment Proposition, by Geography, 2020
3.4. Market Positioning of Key Players, 2020
4. Global Marine Electronics (ME) Market, by Component , 2019 - 2029 (US$ Bn)
5. Global Marine Electronics (ME) Market, by Product, 2019 - 2029 (US$ Bn)
6. Global Marine Electronics (ME) Market, by Vessel, 2019 - 2029 (US$ Bn)
7. Global Marine Electronics (ME) Market, by Application, 2019 - 2029 (US$ Bn)
8. North America Marine Electronics (ME) Market Analysis, 2019 - 2029 (US$ Bn)
9. Europe Marine Electronics (ME) Market Analysis, 2019 - 2029 (US$ Bn)
10. Asia Pacific Marine Electronics (ME) Market Analysis, 2019 - 2029 (US$ Bn)
11. Rest of the World Marine Electronics (ME) Market Analysis, 2019 - 2029 (US$ Bn)
12. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/agaqq8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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INDIANAPOLIS--(BUSINESS WIRE)--Nancrede Engineering’s experience shows that just when you thought it was safe to return to the office or go on vacation, nature has another deadly surprise waiting for you: Legionnaires' disease.
"When a facility is closed or at low occupancy, Legionella bacteria can grow. As offices and hotels reopen, visitors can be exposed to that bacteria,” said Chris Nancrede, President of Nancrede Engineering. “Simply taking a shower can lead to the often-fatal Legionnaires' disease that is caused by Legionella bacteria."
Legionnaires' disease attacks the lungs and causes a severe type of pneumonia. It is estimated that the mortality rate is 10% and up to 25% in healthcare facilities. Legal costs for facility managers and owners can be over a million dollars per infected patient.
The CDC reports that Legionnaires' disease has been on a rapid rise in the United States for the past decade but the limited use of facilities due to COVID-19 could cause this to escalate this summer as they reopen.
"Legionellosis cases typically peak in the summer and fall due to the heat, making this a 'double-whammy' when combined with these re-openings,” continued Nancrede. "These next few months pose a significant health risk to facility visitors and a major liability risk for facility owners.”
Is the facility you are visiting at risk? Nine out of ten Legionnaires' cases can be prevented. Nancrede Engineering offers free tools to help facility managers assess and reduce risk as well as estimate the health risk and cost of a Legionnaires' outbreak:
For more information about Legionella, Legionnaires' disease, and how to mitigate risks to facilities and their visitors, contact Nancrede Engineering Company, at +1 888-56-WATER (888-569-2837) or This email address is being protected from spambots. You need JavaScript enabled to view it..
About Nancrede Engineering
In business for nearly 90 years, Nancrede Engineering Company, Inc., was founded on the guiding principles of ethics, strong customer focus, and engineering the best solutions for our clients. Established in 1932 by Henry T. Nancrede, Nancrede Engineering still delivers on its promise. Learn more at https://legionellacontrolsystems.com.
Chris Nancrede
+1 888-56-WATER (888-569-2837)
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LOVELAND, Colo.--(BUSINESS WIRE)--Lightning eMotors, Inc (NYSE: ZEV) (“Lightning eMotors” or the “Company”), a leading manufacturer of commercial electric vehicles for fleets, today announced a replay of the Analyst Day hosted on June 17, 2021 is available on the Company’s investor relations page: http://www.lightningemotors.com/investors.
About Lightning eMotors
Lightning eMotors has been providing specialized and sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, Class 4 and 5 cargo vans and shuttle buses, Class 6 work trucks, school buses, Class 7 city buses, and Class A motor coaches. The Lightning eMotors’ team designs, engineers, customizes, and manufactures zero-emission vehicles to support the wide array of fleet customer needs including school buses and ambulances, with a full suite of control software, telematics, analytics and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency. To learn more, visit https://lightningemotors.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding the financial statements of Lightning eMotors, its product and customer developments, its expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future revenues and expenses and the business plans of Lightning eMotor’s management team. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of Lightning eMotors in light of their respective experience and perception of historical trends, current conditions and expected future developments and their potential effects on Lightning eMotors as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Lightning eMotors will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including but not limited to: (i) the ability to maintain the listing of the Company’s securities on a national securities exchange, (ii) the price of the Company’s securities may be volatile due to a variety of factors, including changes in the competitive industries in which the Company operates, variations in operating performance across competitors, changes in laws and regulations affecting the Company’s business and changes in the combined capital structure, (iii) that Lightning eMotors will have sufficient capital to operate as anticipated, and (iv) the impact that the novel coronavirus and the illness, COVID-19, that it causes, as well as governmental responses to deal with the spread of this illness and the reopening of economies that have been closed as part of these responses, may have on Lightning eMotors’ operations, the demand for Lightning eMotors’ products, global supply chains and economic activity in general. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Investor Relations:
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Media:
Joe Koenig
(800) 223-0740
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BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today issued the following response from its Board of Directors to the letter it received from its former Chair Gerald O’Shaughnessy on June 18, 2021:
June 22, 2021
Dear Gerry,
The Board has discussed your June 18 letter and finds it unacceptable that you have publicly disparaged the Company with assertions that we know, and you know, to be untrue – particularly after you served as Chair of GeoPark’s Board for nearly two decades.
As you bore witness to, this Board has engaged in significant, proactive refreshment efforts in recent years to increase independence and diversity – you yourself have approved the nomination of, and voted for, all of our Board members. With a majority of independent directors, our Board’s composition is now in line with corporate governance best practices and ensures we objectively pursue strategies that maximize shareholder value.
The decision to ask you to step down as Chair was initiated by our Independent Directors – without the involvement of non-independent directors or GeoPark management, and was unanimously approved by the entire Board, besides you. Given the Company’s long relationship with you, the Board does not believe it is necessary to express the reasons for this decision publicly.
In deciding not to nominate you at the upcoming annual meeting of shareholders and in accepting your resignation this latest time after your repeated threats to resign, the Board determined that the situation with you as Chair had become untenable and was simply not beneficial for the Company or its other shareholders. The Board has also been concerned that approximately 89% of your shares are pledged as collateral, and that you failed to address Board requests regarding these pledges. Given the above, the Board cannot accept your reinstatement. With respect to other potential candidates, we always welcome the opportunity to improve our Company by recommending the best people for our Board. However, we do not believe that a public letter attacking the Company and delivered long after the nomination deadline, is an appropriate process or forum for presenting candidates.
False and Misleading Claims
As members of the Board, in addition to the above, we are also compelled to correct a number of other false and misleading claims in your letter.
Improved Governance & Independence
Our Board’s continued evolution and increased diversity in recent years is an important and notable achievement, and one that we expect will help us build and deliver value to all shareholders. Following the upcoming Annual General Meeting, GeoPark expects to have a majority of independent directors (five out of eight) with a newly appointed independent Chair. We have added two new independent directors in the last year and have nominated a third independent director for election at the upcoming annual meeting of shareholders. Our Boardroom now contains more diversity of thought, encourages a free and open expression of ideas and opinions, and works constructively towards achieving consensus on all major decisions that impact the business. This continues to show our commitment for continuous improvement of our Company and governance, in the best interests of shareholders.
GeoPark today is well positioned to continue delivering consistent value and free cash flow while also being one of the safest, lowest cost operators in the region. We are flexible and disciplined, and we have a proven team and plan. We have been and remain committed to evaluating all value creation opportunities for our shareholders.
Sincerely,
The GeoPark Board of Directors
NOTICE
A copy of GeoPark’s proxy statement and related materials as furnished to the SEC is available at no charge on the SEC website at www.sec.gov. In addition, copies of the proxy statement and other documents may be obtained free of charge by accessing the Company’s website at www.geo-park.com or at www.envisionreports.com/GPRK/2021/1B327AP21E/default.htm?voting=true.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the composition of the Board of Directors, the Board’s evolution and diversification, GeoPark's positioning to continue delivering consistent value and free cash flow and GeoPark’s focus on value creation for shareholders. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
For further information, please contact:
INVESTORS:
Stacy Steimel This email address is being protected from spambots. You need JavaScript enabled to view it.
Shareholder Value Director
T: +562 2242 9600
Miguel Bello This email address is being protected from spambots. You need JavaScript enabled to view it.
Market Access Director
T: +562 2242 9600
Diego Gully This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Director
T: +5411 4312 9400
Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf
T: +1-212-750-5833
MEDIA:
Sard Verbinnen & Co.
Jared Levy / Kelsey Markovich
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NEW YORK & OSLO, Norway--(BUSINESS WIRE)--FREYR AS (FREYR), the Norway-based developer of clean, next-generation battery cell production capacity, and Alussa Energy Acquisition Corp. (Alussa Energy) (NYSE: ALUS), are pleased to invite investors, analysts and other stakeholders to a Capital Markets Update webcast at 10:00 a.m. EDT/16:00 CEST today, June 22, 2021 to discuss items related to the announced business combination and planned listing of FREYR Battery (Pubco) on the New York Stock Exchange, and to provide an update on business activities at FREYR.
The presentation will be hosted by Daniel Barcelo, Founder and CEO of Alussa Energy, Chi Chow, Strategy and Investor Relations of Alussa Energy and Tom Einar Jensen, CEO of FREYR.
In addition, the webcast will feature Jarand Rystad, CEO of Rystad Energy, who will provide the firm’s view on macro trends within the global energy transition and the accelerating demand for battery solutions.
Event details
Participation is possible via webcast and conference call. The event begins at 10:00 a.m. EDT/16:00 CEST and is expected to last approximately 90 minutes including a Q&A session. Questions to management can be submitted in writing via the webcast window during the event or by phone via the conference call during the Q&A session. Presentation slides used in the webcast by FREYR and Alussa Energy will be available prior to the event in the ‘Investors’ section at both www.freyrbattery.com and www.alussaenergy.com.
Please register for and join the webcast via this link: https://streams.eventcdn.net/freyer/alussa-energyfreyr-capital-markets-update/register.
Please dial one of the following numbers to join the conference call:
Canada: +16474848336
Denmark: +4578150108
France: +33170750735
Germany: +4969222220377
Hong Kong (香港): +85258033176
Luxembourg: +35227300167
Norway: +4723963688
Spain: +34914192768
Switzerland: +41225675632
United Kingdom: +443333009032
United States: +16467224903
About Alussa Energy Acquisition Corp.
Alussa Energy is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While Alussa Energy may pursue an acquisition opportunity in any industry or sector, Alussa Energy intends to focus on businesses across the entire global energy supply chain. For more information, please visit www.alussaenergy.com.
About FREYR AS
FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 to position the company as one of Europe’s largest battery cell suppliers. The facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.
Forward-Looking Statements
This press release contains, and certain oral statements made by representatives of Alussa Energy and FREYR and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Alussa Energy’s, Pubco’s and FREYR’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to the shareholder approval of the business combination, the listing of Pubco’s common stock and warrants on the New York Stock Exchange, the production of clean and cost-effective batteries, the plan to deliver 43 GWh of next-generation battery cell manufacturing capacity in Norway by 2025, collaborations with customers and global supply chain partners across the transportation and energy storage sectors, the ability to leverage the Nordic region’s developing battery ecosystem and the closing of the business combination shortly after the Special Meeting. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Alussa Energy, Pubco or FREYR and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to consummate the transaction due to failure to obtain approval of the shareholders of Alussa Energy; the inability to obtain the listing of Pubco’s common stock and warrants on the New York Stock Exchange following the transaction; the failure of capital to be delivered in the business combination; the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction; the inability to recognize anticipated benefits of the proposed business combination; the possibility that Alussa Energy, Pubco or FREYR may be adversely affected by other economic, business, and/or competitive conditions that might lead to, among other things, a failure to develop clean and cost-effective batteries, deliver on the targeted battery cell manufacturing capacity, leverage Norway’s perceived advantages in battery production and build collaborations with customers in the transportation and energy markets; and other risks and uncertainties identified in the registration/proxy statement relating to the transaction, including those under “Risk Factors” therein, and in other filings with the SEC made by Alussa Energy, Pubco and FREYR. Alussa Energy, Pubco and FREYR caution that the foregoing list of factors is not exclusive, and caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. None of Alussa Energy, Pubco or FREYR undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.
No Offer or Solicitation
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer 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.
No Assurances
There can be no assurance that the transaction will be completed, nor can there be any assurance, if the transaction is completed, that the potential benefits of combining the companies will be realized.
Information Sources; No Representations
This press release has been prepared for use by Alussa Energy, Pubco and FREYR in connection with the transaction. The information herein does not purport to be all-inclusive. The information herein is derived from various internal and external sources, with all information relating to the business, past performance, results of operations and financial condition of Alussa Energy was derived entirely from Alussa Energy and all information relating to the business, past performance, results of operations and financial condition of FREYR and Pubco was derived entirely from FREYR. No representation is made as to the reasonableness of the assumptions made with respect to the information herein, or to the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance.
No representations or warranties, express or implied, are given in respect of this press release. To the fullest extent permitted by law in no circumstances will Alussa Energy, Pubco or FREYR, or any of their respective subsidiaries, affiliates, shareholders, representatives, partners, directors, officers, employees, advisors or agents, be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this press release, its contents (including without limitation any projections or models), any omissions, reliance on information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith, which information relating in any way to the operations of FREYR or Pubco has been derived, directly or indirectly, exclusively from FREYR and has not been independently verified by Alussa Energy. Neither the independent auditors of Alussa Energy nor the independent auditors of FREYR or Pubco audited, reviewed, compiled or performed any procedures with respect to any projections or models for the purpose of their inclusion in this press release and, accordingly, neither of them expressed any opinion or provided any other form of assurances with respect thereto for the purposes of this press release.
Important Information about the Transaction and Where to Find It
In connection with the transaction, Alussa Energy and Pubco have filed and will file relevant materials with the SEC, including a Form S-4 registration statement filed by Pubco on March 26, 2021 and amended on May 7, May 27, and June 9, 2021 (the “S-4”), which includes a prospectus with respect to Pubco’s securities to be issued in connection with the proposed business combination and a proxy statement (the “Proxy Statement”) with respect to Alussa Energy’s shareholder meeting at which Alussa Energy’s shareholders will be asked to vote on the proposed business combination and related matters. ALUSSA ENERGY SHAREHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ THE S-4 AND THE AMENDMENTS THERETO AND OTHER INFORMATION FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT ALUSSA ENERGY, PUBCO, FREYR AND THE TRANSACTION. The S-4 was declared effective on June 14, 2021. The definitive Proxy Statement and other relevant materials for the transaction are being mailed to shareholders of Alussa Energy as of April 30, 2021. The preliminary S-4 and Proxy Statement, the final S-4 and definitive Proxy Statement and other relevant materials in connection with the transaction, and any other documents filed by Alussa Energy with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to Alussa Energy Acquisition Corp. at c/o PO Box 500, 71 Fort Street, Grand Cayman KY1-1106, Cayman Islands.
Participants in Solicitation
Alussa Energy, Pubco and FREYR and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Alussa Energy ordinary shares in respect of the proposed transaction. Alussa Energy shareholders and other interested persons may obtain more detailed information regarding the names and interests in the transaction of Alussa Energy’s directors and officers in Alussa Energy’s and Pubco’s filings with the SEC, including when filed, the S-4 and the Proxy Statement. These documents can be obtained free of charge from the sources indicated above.
For investor inquiries, please contact:
For Alussa Energy:
Chi Chow, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (+1) 929-303-6514
For FREYR:
Steffen Føreid, Chief Financial Officer
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Tel: (+47) 975 57 406
Harald Bjørland, Investor Relations
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Tel: (+47) 908 58 221
For media inquiries, please contact:
For Alussa Energy:
Emma Wolfe
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For FREYR:
Hilde B. Rønningsen, Director of Communications
Tel: (+47) 4539 7184
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Universal market challenges include costs, range, and charging speed, with battery swapping poised as a potential market disruptor
BOULDER, Colo.--(BUSINESS WIRE)--#BEV--A new report from Guidehouse Insights examines sales of light duty (LD) EV technologies, including battery EVs (BEVs), plug-in hybrid EVs (PHEVs), and supporting charging infrastructure, with global market forecasts that extend through 2030.
Since 2008, LD plug-in EVs (PEVs) have continually become more affordable while offering higher performance. Much of this has been driven by battery technology innovations with much cheaper and more reliable batteries than when the first modern PEVs were introduced. According to a new report from Guidehouse Insights, the PEV and charging infrastructure market is likely to grow significantly by 2030, with revenue expected to exceed $1 trillion annually.
“PEVs have improved in cost and performance, and this has catapulted the technology from an adaptation of existing automaker model lines and ventures of daring startups to the future standard,” says Scott Shepard, principal research analyst with Guidehouse Insights. “More automakers are likely to join as governments worldwide ramp up regulations to encourage the industry’s continued progress toward zero emissions.”
While the primary market driver is supportive government policies tied to environmental concerns, the PEV market is still not a mature one. Universal market challenges include costs, range, and charging speed. Significant potential still exists for major disruption, for example, in the reemergence of battery swapping. The approach has been gaining traction in micromobility markets in India and Southeast Asia and in light and heavy duty vehicle markets in China.
The report, Market Data: Light Duty EVs, provides an outlook on sales of light duty EV technologies, including BEVs, PHEVs, and supporting charging infrastructure. It includes segmentations of the vehicle market by passenger vehicles and light commercial vehicles, and by charging infrastructure for private charging, destination charging, and fast charging services. Forecasts extend to 2030 and historic data on sales of all technologies is provided back to 2015 for all major regional markets including North America, Europe, China, Organisation for Economic Co-operation and Development (OECD) Asia Pacific, India, Rest of Asia Pacific, Latin America, and Middle East & Africa. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Light Duty EVs, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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New bio-based surfactant EdenSurf shortlisted for Innovation and Newcomer award categories
CRESSON, Texas--(BUSINESS WIRE)--#biobased--Integrity BioChem, a technology-driven company developing next-generation biopolymers, was recognized at the 2021 ICIS World Surfactants Conference and Awards for its new technology EdenSurf, which was shortlisted in both the Newcomer and Innovation award categories. Integrity BioChem’s Chief Technology Officer Dr. Charles Landis and Executive Vice President Michael Suver were also featured speakers at the conference, presenting the company’s new breakthrough bio-based surfactant technology.
The ICIS World Surfactants Conference and Awards provides a platform for the surfactants community to celebrate the achievements of the industry, including unique and noteworthy projects and collaborations in the surfactant value chain.
“We are appreciative to ICIS for recognizing Integrity BioChem and EdenSurf on such a prominent, competitive stage,” said Jimmy Jett, Integrity BioChem CEO. “This recognition and the feedback we received from our ICIS World Surfactants Conference and Awards presentation validate our excitement around this new technology, and to be recognized among some of the biggest players in the industry is an accomplishment we are incredibly proud of.”
“Every year at the ICIS World Surfactants Conference and Awards, we are excited to bring together leaders in the industry to share insights and celebrate innovation,” said Neil Burns, co-producer and chairperson of the ICIS Surfactants Conferences portfolio. “Integrity BioChem was a strong addition to our speaker roster this year with the presentation of their new developments in the biosurfactant space.”
EdenSurf is Integrity BioChem’s new patent-pending bio-based surfactant built from sustainable, vegetative materials and built with the strength of traditional surfactants. Developed specifically for the personal care and household industries, EdenSurf is a non-irritating surfactant additive that performs as an alternative to sodium lauryl sulfate (SLS) and select zwitterionic surfactants commonly used in advanced product formulations. Backed by Integrity BioChem’s innovative production engineering, this new technology can be produced at commercial quantities without the use of harsh chemicals or conditions.
In addition to being sourced sustainably, EdenSurf reports a Renewable Carbon Index greater than 90% and is certified Readily Biodegradable. This new technology is a culmination of Integrity BioChem’s deep commitment and continued investment in supplying customers with sustainable, socially responsible high-performance products.
To learn more about Integrity BioChem’s new EdenSurf technology, visit edensurf.info.
About Integrity BioChem
Founded in 2017, Integrity Bio-Chemicals (IBC) is a technology-driven company with a deep bench of industry experts producing next-generation modified biopolymers for the energy, mining, industrial, and household and personal care markets using renewable and sustainable practices. IBC is first to market with a new category of patent-pending, high-performance surfactants, created with natural sources and capable of faster production cycles at larger scales and lower costs. Our commitment to transparency and innovation brings world-class service to our customers worldwide.
Chad Hall
Vice President, Production Enhancement
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DUBLIN--(BUSINESS WIRE)--The "Tank Level Monitoring Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The tank level monitoring market is expected to grow at a compound annual growth rate of 4.26% over the analyzed period to reach a market size of US$1,080.953 million in 2026 from US$807.050 million in 2019.
Companies Mentioned
Tank Level Monitors are used in liquid tanks to measure the amount of substance remaining in the tank. Level monitoring in the tank is quite crucial as it is linked with the safety and security of workers and the prevention of potential hazards and accidents. Burgeoning growth in oil and chemical industries will increase the market growth of tank level monitoring. Rising oil demand and discovery of oil fields in the Middle East and Africa area is projected to provide market stability and opportunity. Further, technological advancement and innovation in the industry will open up new market prospects during the forecasted period. However, instances of false echo discourage the market, ultrasonic level monitor. Requirement for skilled workforce further constraints the market.
The oil and chemical industries will provide robust growth opportunities for the global tank level monitoring market during the forecasted period.
Further, the discovery of new oil fields across the Middle East and Africa along with the redevelopment of existing fields will open more market prospects for tank-level monitoring equipment. Saudi Arabia Aramco, for instance, sanctioned the approval for the development and maintenance of oil and gas brownfields in the region in November 2020. Furthermore, the organization also announced the discovery of 2 new oil and gas fields in the northern border region in August 2020 and 4 new fields in early December 2020. Also, the recent discovery of the Luiperd gas field, at the South Coast of Mossel Bay, South Africa in February 2021, has been termed as a game-changer for the oil and gas industry, providing growth opportunities for tank level monitors. Other projects such as Tanzania LNG Liquefication Plant, Tanzania, Rovuma LNG Liquefication Plant, Mozambique, and Ogidigben Gas Revolution Industrial Park, Nigeria, open several growth doors for the tank level monitoring industry. Etan & Zabazaba Oil Fields in Nigeria, Nambire Refinery complex, Angola, Rumaila Oil Field in Iraq, Yanbu, Saudi Arabia, and others are a potential market for the industry.
Float and Tape Gauge are widely used tank-level monitors. However wireless tank level monitors are expected to grow at an auspicious rate to gain significant market share.
Based on technology, the tank level monitoring market is fragmented into float and tape gauge, capacitance, ultrasonic, conductivity, radar-based, and data transmission. Float and tape gauge are anticipated to hold a significant share of the market during the forecasted period. Float-style sensors are widely used in liquids and fluids that have bouncy similar to that of water. Accompanied with this, a plethora can be used to estimate other variables such as temperature and pressure. Ultrasonic is another leading tank level monitoring equipment that facilitates monitoring. However, the ultrasonic device may give false echo or information. Poor quality power source, improper cable routing, not using shielded cables, chemical incompatibility, poor mounting angle, and inappropriate application give rise to false echo in the ultrasonic level monitors. This could be avoided using high-accuracy ultrasonic devices and ensuring proper connectivity.
Furthermore, with technological advancement and innovation, the launch of wireless tank level monitors opens up wide market opportunities for the industry. Wireless level monitors reduce the chaos of wiring and are more effective. Cellular modems, wireless mesh networks, and wireless serial radios are gaining considerable favorability and are predicted to grow at a noteworthy rate. The product cost, however, may hinder the market growth. Furthermore, the lack of a skilled workforce constrains the market notably.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Tank Level Monitoring Market, by Product
5.1. Introduction
5.2. Invasive
5.3. Non-Invasive
6. Tank Level Monitoring Market, by Technology
6.1. Introduction
6.2. Float and Tape Gauge
6.3. Conductivity
6.4. Ultrasonic
6.5. Capacitance
6.6. Radar-based
6.7. Data Transmission
7. Tank Level Monitoring Market, by End-Users
7.1. Introduction
7.2. Oil and Gas
7.3. Chemical
7.4. Energy and Power
7.5. Automotive
7.6. Mining
7.7. Others
8. Tank Level Monitoring Market, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/o50wia
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON, LONDON & FREDRIKSTAD, Norway--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR), an energy technology company, and Borg CO2 AS, a Norwegian carbon capture and storage developer for industrial clusters, have announced a memorandum of understanding (MOU) to collaborate on a carbon capture and storage project to serve as a hub for the decarbonization of industrial sites in the Viken region of Norway. The project aims to capture and store up to 90% of the CO2 emissions from the involved industrial sites, playing an important role in contributing to the Paris Agreement goals, the United Nations Sustainable Development Goals and the Norwegian national emissions reduction targets.
The Borg CO2 project includes several industry partners, as well as the Port of Borg, and aims to capture and store emissions from industrial facilities located in the cities of Fredrikstad, Sarpborg and Halden. The combined industrial cluster is currently responsible for approximately 700,000 tonnes of CO2 emissions annually. After being captured, the CO2 will be liquified, shipped and eventually stored underneath the seabed of the North Sea. In April 2021, Borg CO2 announced an MOU with Northern Lights JV, who will provide shipping and storage of CO2 as a service provider for Borg CO2.
Borg CO2 and its partners have completed a first feasibility study and are proceeding with an extended feasibility study (pre-FEED) to be completed by the end of 2021 which Baker Hughes will support with its portfolio of carbon capture technologies and engineering services for the study and development of the hub. In addition, Baker Hughes and Borg CO2 will jointly evaluate the optimal structure for implementation of the carbon capture plants and pursue grant and incentive opportunities both in Norway and at the EU level.
Borg CO2’s “industrial cluster” approach provides a prime opportunity for Baker Hughes to test and scale its wide-ranging carbon capture, utilization and storage (CCUS) technologies portfolio on several types of processes including its Chilled Ammonia Process (CAP) and Compact Carbon Capture (CCC) solutions.
“Today, industrial clusters represent around 20% of Europe’s CO2 emissions. Meaningful decarbonization is not possible without carbon capture, utilization and storage, and this collaboration demonstrates how CCUS technology is accelerating from concept toward commercialization with real-world impact,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “Our collaboration with Borg CO2 will accelerate development of new energy frontiers like CCUS, and we believe it is critical to help them at an early stage by strategically supporting with our best in class technology.”
“With the technology competencies and experience of Baker Hughes supporting us, we believe that Borg CO2 is better positioned to take the next steps towards commercialization and achieve our goals for the project,” said Tore Lundestad, managing director of Borg CO2 and Harbour Master for the port of Borg. “A project like this showcases a win-win approach where permanent storage combined with the possibility of sustainable usage of smaller volumes of biogenic CO2 will help to achieve net-zero, and with the industrial facilities potentially receiving revenue by selling negative CO2 emissions”.
The Baker Hughes CCUS portfolio features advanced turbomachinery, solvent-based state-of-the-art capture processes, well construction and management for CO2 storage, and advanced digital monitoring solutions. Baker Hughes has a longstanding presence in Norway with six facilities and approximately 2,000 employees.
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at www.bakerhughes.com.
About Borg CO2
Borg CO2 AS is a Norwegian Limited Liability Company. Its purpose is to develop carbon capture and storage (CCS) technology, primarily for industrial facilities in Viken (Østfold), Norway. Since 2018, it has worked on mapping the opportunity to develop CCS for an industrial cluster and has recently finished a complete feasibility study. The feasibility study had 18 partners representing process industry, waste management, logistics, energy, carbon capture technology, technology providers and academia. Borg CO2 are now conducting a pre-FEED with 9 partners and CLIMIT support, based on the feasibility study. The CO2 capture potential of the full-scale CCS cluster is 630,000 tonnes annually from five regional industrial sources. The port of Borg will serve as a host for a future CO2 terminal. Borg CO2 is supported by CLIMIT, a national programme for research, development and testing of CCS technologies. Visit: www.borgco2.no.
For Baker Hughes:
Media Relations
Helen Roberts
+44 (0)7557 812474
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Investor Relations
Jud Bailey
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DUBLIN--(BUSINESS WIRE)--The "North America Freight and Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The North America freight and logistics market is anticipated to register a growth rate of 3% during the period (2021-2026).
COVID-19 has severely impacted the market studied. North American airlines saw demand decrease by 1.8% in February 2020, compared to the same period a year earlier where capacity increased by 4.1%. Cargo traffic on the Asia-North America trade lanes decreased by 2.4% year-on-year as a result of factory closures in Asia due to COVID-19.
Rising air freight rates, dwindling warehouse space and clogged cargo terminal arteries are among the challenges North American shippers face in the new pandemic economy. During COVID-19, Railroad volumes declined by 20 % and have not recovered totally. Last-mile deliveries have surged more than ten times over, but ocean shipping is down by 25 %.The spillover to the logistics industry began in February 2020 as volume into US ports dropped significantly.
The North American logistics market is fragmented. Besides transportation and distribution services, numerous niche players offer specialized services such as reverse logistics, IT services, and consulting.
Moreover, owing to the rising environmental concerns, the adoption of green logistics solutions has been witnessed in recent years. At present, the United States represents one of the key markets for logistics in the region with highly integrated supply chain network that links producers and consumers through multiple transportation modes, such as air and express delivery services, freight rail, maritime transport, and truck transport.
Trade continues to improve steadily and the economy is growing consistently now. However, driver shortage, tight capacity, infrastructure, and regulations are affecting the industry. Ports and airports are investing in new capacity in order to cope with on-going demand.
The widening of the Panama Canal and the expansion of regional industrial activities are amplifying volumes in the southeast of the United States.
Rail and intermodal services are booming, although shippers across the region complain of poor rail freight service, tight capacity and labour disputes. Large fleet owners are investing heavily in new trucks, which is driving associated supply chains.
Competition is fierce among the North American ports. The United States ports are straining under increasing tonnage and in some cases the inability to service mega-ships. This has led, at several times in the past five years, to ships diverting to Canadian rivals. Many of the ports are seeking funding for dredging to deepen harbours and obtain the equipment needed to support the increasingly large mega-ships blamed, by United States West Coast ports in particular, for congestion problems.
USMCA (US-Mexico-Canada Agreement) entered into force on 1 July 2020, replacing the North American Free Trade Agreement (NAFTA). USMCA presents both challenges and opportunities for transport operators. USMCA likely will not have the biggest direct impact on trucking compared with industries such as automotive and agriculture. The trickle-down effect of industries potentially producing and shipping more products is where carriers likely benefit. other companies.
Competitive Landscape
The North America freight and logistics market is fragmented. DHL, XPO Logistics, UPS, FedEx, Ryder Systems are some of the prominent players in the market.
The market is expected grow due to economic growth, growing population, growing industrialization. However, lack of the government's commitment to the development of seaports or road networks and reconfigured supply chains, with the growing local production and consumption units are thereby hampering the market growth.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Government Regulations and Initiatives
4.4 Industry Value Chain/Supply Chain Analysis
4.5 Spotlight on the E-commerce Market (Regional Trends of Domestic, as well as Cross-border E-commerce, along with Key Performance Indicators, will be Provided)
4.6 Insights into the Courier, Express, and Parcel (CEP) Market (market trends and major players)
4.7 Brief on the 3PL Market in North America
4.8 Insights on Cross-border Trucking and Intermodal Transportation
4.9 Impact of COVID-19 on the market
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Industry Attractiveness - Porter's Five Forces Analysis
6 MARKET SEGMENTATION (Market Size by Value)
6.1 By Function
6.1.1 Freight Transport
6.1.1.1 Road
6.1.1.2 Inland Water
6.1.1.3 Air
6.1.1.4 Rail
6.1.2 Freight Forwarding
6.1.3 Warehousing
6.1.4 Value-added Services and Other Functions
6.2 By End User
6.2.1 Manufacturing and Automotive
6.2.2 Oil and Gas, Mining, and Quarrying
6.2.3 Agriculture, Fishing, and Forestry
6.2.4 Construction
6.2.5 Distributive Trade (Wholesale and Retail Segments - FMCG included)
6.2.6 Other End Users (Telecommunications and Pharmaceuticals)
6.3 By Country
6.3.1 United States
6.3.2 Canada
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 XPO Logistics Inc.
7.2.2 J B Hunt Transport Services
7.2.3 Deutsche Post DHL
7.2.4 UPS Supply Chain Solutions
7.2.5 C H Robinson Worldwide
7.2.6 Expeditors International of Washington
7.2.7 Ryder Supply Chain Solutions
7.2.8 Americold Logistics
7.2.9 FedEx Corporation
7.2.10 Ceva Logistics
8 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/mjoim3
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French Industrial Group to Showcase NEXT’s Solar Installation to Global Network of Architects, Building Owners, and Commercial Developers
SANTA BARBARA, Calif.--(BUSINESS WIRE)--NEXT Energy Technologies, Inc., makers of a proprietary transparent photovoltaic (PV) coating that transforms commercial windows into energy-producing solar panels, today announced the delivery of a PV Prototype Window Wall to Bouygues Construction in Paris. Bouygues is a leading construction firm that specializes in complex commercial projects around the globe.
The PV Prototype Window Wall was delivered by NEXT in collaboration with its partners, Walters & Wolf, a leading commercial curtainwall manufacturer and glazing subcontractor headquartered in Fremont, California, and commercial glass fabricator, Glassfab Tempering Services/Solarfab in Tracy, California.
“NEXT’s technology is both unique and promising. We’re proud to support their collaboration with Bouygues Construction and will continue to work side by side with them in bringing their product to market,” said Nick Kocelj, President of Walters & Wolf.
“We support NEXT Energy in their focused effort in providing a unique and innovative product to the architectural market. When presented the opportunity to participate in this project, we were eager to assist in any way possible,” said Brian Frea, President of Glassfab Tempering Services/ Solarfab.
NEXT’s proprietary transparent photovoltaic coating transforms commercial windows into energy-producing solar panels by converting unwanted infrared and UV light into electricity. This fully integrated system can help enable buildings to power themselves with their windows which retain their traditional transparency and performance.
The prototype installation consists of 10 transparent photovoltaic windows that supply electricity to a battery that powers an interactive display as well as auxiliary charging outlets, for phones, tablets and other electronics. The purpose of this prototype demonstration is to showcase the power generation functionality, the exceptional transparency and aesthetics, and the seamless integration of NEXT windows into a standard glazing system designed by Walters & Wolf to carry the electronics, wiring and hardware that comprise the balance-of-system. This direct integration into traditional commercial window and framing systems effectively extracts costs typically associated with packaging and installation of solar.
Installed in a typical commercial high-rise office building, the first generation of NEXT windows would offset as much as 10-20% of its power needs, and over a 30-year timeframe, such a building would produce about 20 million kWh of clean power, saving an average of $170,000 annually on utility bills and reducing 14,500 metric tons of carbon dioxide from the atmosphere, the equivalent of powering 1,700 homes for an entire year. In the coming years, NEXT windows will be commercially available for window sizes up to 5 ft. x 10 ft (1.5 x 3 meters).
A Supply Chain Solution to The Climate Crisis
NEXT’s photovoltaic coatings are applied to commercial windows during the window fabrication process, integrating with existing manufacturers without disrupting established workflows and supply chains. This capital-efficient business model reduces risks to customers, removes barriers to adoption, and accelerates speed to market, all while adding a high-value product to the market. This direct integration into traditional commercial window and framing systems effectively extracts costs typically associated with packaging and installation of solar.
"We are excited to be one of the first global construction companies pioneering NEXT's revolutionary transparent solar panel windows. This innovation will allow Bouygues Construction to offer its clients a simple, sustainable, and profitable solution for buildings that are autonomous in the management of their energy," said Christian De Nacquard, R&D and Innovation Director, Bouygues Bâtiment International.
Meeting European and International Climate Standards
The European Union aims to be climate-neutral by 2050, requiring a fundamental transformation of the construction and building sectors. 100% of new commercial buildings in California will be designed to zero net energy (ZNE) standards by 2030. Globally, buildings generate an estimated 40% of annual GHG emissions.
“Addressing the climate crisis at the corporate level requires creative and cost-effective solutions. Commercial buildings are an excellent example of something that can be re-imagined and improved to reduce carbon emissions and overall impact,” said Daniel Emmett, CEO of NEXT.
“At a more personal level, we’re seeing employees returning to office buildings after more than a year of lockdown vocally prioritize healthy and sustainable work environments as a requirement of in-person work. In a recent survey, 74% of employees said they’d consider changing jobs if their company did not meet their requirements for a healthy and sustainable office environment,” continued Emmett.
NEXT will release a report based on a survey of professionals and building managers this summer that will explore people’s attitudes and priorities for healthy and sustainable office buildings. The full report will be published at https://www.nextenergytech.com/.
The announcement of the solar Prototype Window Wall comes just weeks after NEXT announced its $13.4 Million Series C round of funding.
About NEXT Energy Technologies, Inc.
NEXT Energy Technologies is a Santa Barbara, California company developing transparent energy harvesting window technology that allows architects and building owners to transform windows and glass facades into producers of low-cost, on-site, renewable energy for buildings. NEXT's technology is enabled by proprietary organic semiconducting materials that are earth-abundant, low-cost, and are coated as an ink in a high-speed, low-cost, and low energy process. For more information, visit https://www.nextenergytech.com/.
About Bouygues Construction
With 58,000 responsible and committed employees in more than 60 countries, Bouygues Construction designs, builds and operates projects in the sectors of building, civil works and energies and services. A leader in sustainable construction, the Group sees shared innovation as its primary added value and ensures that health and safety are its top priorities. It has pledged to cut its greenhouse gas emissions by 30% by 2030 and offers its customers a wide range of low-carbon solutions. In 2020, Bouygues Construction generated sales of €12 billion.
For more information: https://www.bouygues-construction.com/
Eric Becker
104 West Partners for NEXT Energy Technologies
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Decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions
HOUSTON--(BUSINESS WIRE)--Regulatory News:
Schlumberger announced today its commitment to achieve net-zero greenhouse gas (GHG) emissions by 2050. Guided by climate science, Schlumberger has spent 18 months conducting extensive analysis and working with experts to produce a decarbonization plan. With minimal reliance on offsets, the plan is focused on reducing Scope 1, 2 and 3 emissions across the oil and gas value chain—including the introduction of its Transition Technologies portfolio to assist its customers and the wider industry in their decarbonization commitments.
Schlumberger is committed to getting to net zero, using 2019 as a baseline year, supported by a comprehensive near-term emission reduction roadmap and interim targets:
Along this journey to net zero, Schlumberger will ensure transparency in alignment with the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Boards (SASB) frameworks. In this context, Schlumberger is working with the Science-Based Target initiative for formal external validation of its 2030 target.
“There is a new industry imperative to address climate change while meeting the demand for energy both today and in the long term, sustainably. We have a 2050 net-zero carbon emissions ambition which I believe is unique in our industry due to our capabilities as a technology company and our culture grounded in science. This reinforces our commitment to unlocking access to energy, for the benefit of all,” said Olivier Le Peuch, chief executive officer, Schlumberger. “Our net-zero target is inclusive of total Scope 3 emissions; this is a first in the energy services industry.”
“Our decarbonization plans are based upon climate science and focused on three key areas: operational emissions; customer emissions; and carbon-negative actions,” said Katharina Beumelburg, chief strategy and sustainability officer, Schlumberger. “75% of Schlumberger’s baseline GHG footprint comes from the technologies our customers use. To address this, Schlumberger has introduced our Transition Technologies portfolio, which is designed to help customers reduce their Scope 1 and 2 emissions, while simultaneously enabling us to meet our Scope 3 emissions target.”
The Transition Technologies portfolio will address fugitive emissions, flaring reduction, electrification, well construction emissions, and full field development solutions. Comprised of proprietary technologies and solutions, these will help to reduce direct and indirect emissions along with other environmental attributes, while simultaneously driving efficiency, reliability, and performance. To quantify the impact of these technologies, Schlumberger has developed a robust framework that enables standardization of measurement, benchmarking through net-footprint comparisons, and ultimately better-informed technology selection during planning.
Schlumberger’s decarbonization plan is aligned with the Paris Agreement to limit global warming to 1.5 degrees Celsius, achieving a climate neutral world by mid-century. Schlumberger is on track to achieve its previously set near-term emissions reduction target of 30% by 2025 for Scope 1 and 2, ahead of schedule.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws — that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “forecast,” “estimate,” “goal,” “target,” “will,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, certain technologies; the business strategies of Schlumberger and its customers, including their respective decarbonization strategies; and other forecasts or expectations regarding the energy transition and global climate change. These statements are subject to risks and uncertainties, including legislative and regulatory initiatives addressing environmental concerns; and other risks and uncertainties detailed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
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Both Mark Significant Achievements In Path Toward Commercial Fusion Electricity
REDMOND, Wash.--(BUSINESS WIRE)--Helion Energy (Helion), a clean electricity company committed to creating a new era of clean energy through fusion, today became the first private company to announce exceeding 100 million degrees Celsius in their 6th fusion generator prototype, Trenta. Reaching this temperature is a critical engineering milestone as it is considered the ideal fuel temperature at which a commercial power plant would need to operate. Helion will be presenting these operational results at the 63rd Annual Meeting of the APS Division of Plasma Physics. See abstract below.
Helion also announced their Trenta prototype recently completed a 16-month testing campaign, which pushed fusion fuel performance to unprecedented levels and performed lifetime and reliability testing on key components of the fusion system. Helion will be presenting these results at the 2021 IEEE Pulsed Power Conference & Symposium on Fusion Engineering. See abstract below.
Reaching these temperatures and confirming system reliability are vital milestones that validate Helion’s plans to develop a cost-effective, zero-carbon electrical power plant using its unique pulsed, non-ignition-fusion device.
“These achievements represent breakthroughs with major implications for how the world meets its expanding future electricity needs while dramatically reducing climate impact on a relevant timescale,” said Dr. David Kirtley, Founder and CEO of Helion Energy.
About Helion
By applying proven and patented technologies, Helion is working towards building the world’s first commercially-viable fusion power plant which runs on a fuel that can be derived from water. Their zero-carbon solution is capable of low-cost 24/7 power generation that replaces the energy sources the world currently relies on, enabling a future with limitless, reliable and affordable clean electricity.
Thermonuclear Field Reversed Configuration plasmas in the Trenta prototype
Kirtley, D., Hine, A., Milroy, R., Pihl, C., Ryan, R., Shimazu, A. Votroubek, G.
Helion Energy’s Trenta prototype merged and compressed high-Beta Field Reversed Configuration (FRC) deuterium plasmas to fusion conditions, reaching 9 keV total bulk plasma temperatures with operation above 8 keV ion temperature and 1 keV electron temperature. Extensive calibrated chords of x-ray spectroscopy, 1055 nm interferometry, Bremsstrahlung optical emission detectors, and a wide array of magnetic separatrix and neutron diagnostics confirm extended and repeatable FRC operation at thermonuclear fusion conditions. Fusion reaction rates and particle confinement meet or exceed traditional modified-Lower Hybrid Drift (LHD) FRC energy confinement and overall configuration time is limited as expected by the onset of n=2 rotational instability. This presentation will describe newly-discovered high performance operating modes and expand traditional energy and particle confinement scaling to the thermonuclear temperature regimes. Further, a summary of diagnostics and operational results of the Trenta prototype operation through 2020 will be detailed.
Vacuum vessel and divertor design and results of 16 month operation of the Trenta Magneto-Inertial Fusion prototype
Kirtley, D., Campbell, B., Hine, A., Milroy, R., Pihl, C., Ryan, R., Votroubek, G.
Helion Energy’s Trenta prototype recently completed a 16 month testing campaign, remaining under vacuum continuously with all fusion and diagnostic operations and system upgrades completed remotely. During this period, extensive MJ-class discharges were completed, including merging and compression of high-Beta Field Reversed Configuration (FRC) deuterium plasmas to thermonuclear fusion conditions with associated fusion product fluences. This presentation will detail vacuum vessel design and construction, operation and plasma-materials interface considerations for inductive, magnetically isolated, but high temperature (9 keV) and high fluence (1 MW/m^2) divertor plasmas. Furthermore, inductive systems require dielectric materials, traditionally SiO2 or Al2O3, that introduce unique interface challenges. Lastly, this presentation will phenomenologically discuss the operational results of the Mark-I scientific divertor with a focus on long-term operation.
Media
Scott Krisiloff
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Decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions
HOUSTON--(BUSINESS WIRE)--Schlumberger announced today its commitment to achieve net-zero greenhouse gas (GHG) emissions by 2050. Guided by climate science, Schlumberger has spent 18 months conducting extensive analysis and working with experts to produce a decarbonization plan. With minimal reliance on offsets, the plan is focused on reducing Scope 1, 2 and 3 emissions across the oil and gas value chain—including the introduction of its Transition Technologies portfolio to assist its customers and the wider industry in their decarbonization commitments.
Schlumberger is committed to getting to net zero, using 2019 as a baseline year, supported by a comprehensive near-term emission reduction roadmap and interim targets:
Along this journey to net zero, Schlumberger will ensure transparency in alignment with the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Boards (SASB) frameworks. In this context, Schlumberger is working with the Science-Based Target initiative for formal external validation of its 2030 target.
“There is a new industry imperative to address climate change while meeting the demand for energy both today and in the long term, sustainably. We have a 2050 net-zero carbon emissions ambition which I believe is unique in our industry due to our capabilities as a technology company and our culture grounded in science. This reinforces our commitment to unlocking access to energy, for the benefit of all,” said Olivier Le Peuch, chief executive officer, Schlumberger. “Our net-zero target is inclusive of total Scope 3 emissions; this is a first in the energy services industry.”
“Our decarbonization plans are based upon climate science and focused on three key areas: operational emissions; customer emissions; and carbon-negative actions,” said Katharina Beumelburg, chief strategy and sustainability officer, Schlumberger. “75% of Schlumberger’s baseline GHG footprint comes from the technologies our customers use. To address this, Schlumberger has introduced our Transition Technologies portfolio, which is designed to help customers reduce their Scope 1 and 2 emissions, while simultaneously enabling us to meet our Scope 3 emissions target.”
The Transition Technologies portfolio will address fugitive emissions, flaring reduction, electrification, well construction emissions, and full field development solutions. Comprised of proprietary technologies and solutions, these will help to reduce direct and indirect emissions along with other environmental attributes, while simultaneously driving efficiency, reliability, and performance. To quantify the impact of these technologies, Schlumberger has developed a robust framework that enables standardization of measurement, benchmarking through net-footprint comparisons, and ultimately better-informed technology selection during planning.
Schlumberger’s decarbonization plan is aligned with the Paris Agreement to limit global warming to 1.5 degrees Celsius, achieving a climate neutral world by mid-century. Schlumberger is on track to achieve its previously set near-term emissions reduction target of 30% by 2025 for Scope 1 and 2, ahead of schedule.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws — that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “forecast,” “estimate,” “goal,” “target,” “will,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, certain technologies; the business strategies of Schlumberger and its customers, including their respective decarbonization strategies; and other forecasts or expectations regarding the energy transition and global climate change. These statements are subject to risks and uncertainties, including legislative and regulatory initiatives addressing environmental concerns; and other risks and uncertainties detailed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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Seven new appointments bring leadership experience from NRG, SpaceX, Bechtel, Idealab, Deutsche Bank, and Goldman Sachs
PASADENA, Calif.--(BUSINESS WIRE)--#BillGross--Renewable energy technology company Heliogen today announced the expansion of its leadership team with the appointment of seven exceptional leaders with backgrounds spanning Fortune 500 corporations, industry-leading energy companies, pioneering technology companies, and multinational investment banks. The appointments underscore Heliogen’s commitment to building a world-class leadership team that will speed the company’s progress toward helping to solve pressing global challenges brought on by climate change by providing decarbonization technology that aims – for the first time in history – to be more cost-effective than fossil fuels.
“The sheer scale of the challenges and opportunities around the climate crisis calls for an assembly of the brightest and boldest minds from a variety of disciplines, backgrounds, and identities to rise to the urgent challenge of the current moment,” said Bill Gross, CEO and founder of Heliogen. “As we assembled Heliogen’s leadership team, we pursued leaders who have demonstrated professional excellence in energy, technology, and finance while being deliberate about casting a wide net to include diverse and forward-thinking candidates. With the cleantech market attracting more investor and mainstream attention than ever before, I’m proud to introduce such an accomplished group of leaders, all of whom are making pivotal contributions to further Heliogen’s mission of replacing fossil fuels with sunlight.”
Tom Doyle, co-head of the development group, has more than 25 years of senior-level experience growing and managing a significant P&L and a deep understanding of concentrated solar power, photovoltaics, and other renewable energy technologies. At Heliogen, working with Rashaun Williams, Doyle will oversee Business Development, Project Development, Proposal Development, Project Management, Project Finance, Strategy, Business Intelligence, and Asset Management. Prior to Heliogen, Doyle was an executive vice president at NRG Energy and president and CEO of NRG Energy’s renewable energy business, NRG Renew, one of the largest renewable energy companies in the world. Doyle also served as president and CEO of NRG Solar, a company he established and expanded to become an industry leader in the high growth commercial and industrial sectors of the solar industry. Under Doyle’s leadership, NRG successfully placed more than $7.5 billion of capital that generated a significant return on equity and an annual EBITDA contribution of more than $550 million. He holds an MBA and a B.S. in mechanical engineering from the University of Arizona.
Andy Lambert, senior vice president of production and supply chain, brings pioneering engineering leadership and product manufacturing experience to Heliogen, where he will lead development of the company’s production system and supply chain operations. Previously, Lambert spent more than nine years with SpaceX, where he developed the manufacturing and supply chain for the company’s rockets and spacecraft, before leading the company’s build reliability and quality assurance functions ahead of the first manned space flight. Prior to SpaceX, Lambert spent 13 years at BMW, most recently serving as vice president for MINI logistics and assembly production. During his time with MINI, he contributed to the rapid development of a production system that nearly tripled the output of its original installed capacity. Lambert spent nine years in the British Royal Air Force as an aircraft engineer and is a graduate of the School of Technical Training at RAF Halton military academy.
Christie Obiaya, chief financial officer, will draw on her experience from large-scale, complex energy projects to lead Heliogen’s finance team and to provide strategic support for the company’s growth. Most recently, Obiaya served as CFO and head of strategy for the energy business unit at Bechtel, the global engineering, construction and project management company. In her 11 years at Bechtel, she held leadership roles spanning finance, strategy, project development and investment, and project execution. Prior to Bechtel, Obiaya worked on renewable energy projects in Kenya and India. She began her career as an engineer, designing products and scaling up manufacturing processes at a multinational consumer goods company. Obiaya holds a B.S. in chemical engineering from MIT and an MBA from the MIT Sloan School of Management.
Rashaun Williams, co-head of the development group, brings his background as an investment banker and venture capitalist to his role at Heliogen, where he will focus on applying his 20 years of experience in finance, investments and sales to help the company realize its mission. Working with Tom Doyle, Williams will oversee Business Development, Project Development, Proposal Development, Project Management, Project Finance, Strategy, Business Intelligence, and Asset Management. With more than 150 investments in high-growth companies and more than 40 exits, Williams is currently a general partner in the MVP All-Star Fund. At his previous firm, Queensbridge Venture Partners, he became an early investor in Robinhood, Coinbase, Casper, Ring, PillPack, Lyft, and Dropbox. Prior to that, he worked at Wall Street firms including Goldman Sachs, Wachovia Securities and Deutsche Bank, bringing capital to emerging, diverse and alternative markets. In 2007, he founded Dixsville Partners, a private equity fund investing in infrastructure development and mineral companies in West Africa. Williams is a summa cum laude graduate of Morehouse College.
Thomas Patrick, chief of staff, will serve as strategic advisor and counsel to the CEO and collaborate with the leadership team on business strategies. Patrick has built his leadership career at multiple global financial institutions, including Deutsche Bank, where he served as CEO of the USA Corporation and the Americas region and co-head of the Corporate & Investment Bank (CIB) in the Americas. Patrick was a member of the Deutsche Bank USA Board, the CIB Executive Committee and a permanent guest on the Management Board. Prior to Deutsche Bank, Patrick was at Bank of America Merrill Lynch for 18 years, holding various senior positions including head of global banking and markets strategy and portfolio management, and co-head of global equities. Patrick holds a bachelor’s degree in economics from Columbia University.
Debbie Chen, general counsel, an experienced legal advisor to technology and startup companies, will focus on implementing an effective compliance program at Heliogen to ensure adherence to legal requirements and broader company values. Previously, Chen served as general counsel at Idealab, a role in which she worked with Heliogen applying knowledge of general corporate law since the company’s inception. Prior to Idealab, she was with the law firm of Latham & Watkins LLP. Chen holds a B.S. degree in economics from the Wharton School of the University of Pennsylvania and a J.D. from the University of California, Los Angeles.
Tanya Peterson, vice president of human resources, brings to her role at Heliogen a well-rounded background in multiple areas of human resources (HR) from working with high-performance teams in the finance and technology industries. At Heliogen, Peterson will lead the HR and talent teams in building and scaling an engaged, inclusive, and high-performing culture. Previously, Peterson served as head of human resources at global equity firm Los Angeles Capital Management where she was responsible for a variety of functions, including recruiting, talent management, diversity and inclusion, and internal communications. Prior to Los Angeles Capital Management, Peterson was at Yellowpages.com where she led HR initiatives for Engineering and other teams. Before Yellowpages.com, Peterson was the Head of HR for Idealab where she managed all HR operations and talent acquisition for Idealab and more than 150 of its portfolio companies. Peterson holds a B.A. in business management from Hartwick College.
The new executives join Steve Schell, chief technology officer, and Vikas Tuteja, head of strategy and analytics, on Heliogen’s leadership team.
About Heliogen
Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in all sectors of the economy and empowering a sustainable future. The company’s Sunlight Refinery™ aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, and green hydrogen fuel at scale for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996.
In November 2020, TIME included Heliogen’s HelioHeat™ technology on its Best Inventions of 2020 list. In April 2020, Fast Company selected Heliogen as a recipient of a 2020 World Changing Ideas Award for its technology. The company won the Energy category.
For more information about Heliogen, please visit Heliogen.com or @heliogeninc.
Leo Traub, Antenna Group
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Planned compatibility furthers Veritone GRID initiative to accelerate clean energy adoption through simplified device integration and improved grid optimization and resilience
DENVER--(BUSINESS WIRE)--#artificialintelligence--Veritone, Inc. (NASDAQ: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE™, today announced development of a new device learning model for the market-leading SMA Sunny Central solar inverters, part of the company’s GRID (Grid Reliability in Device) initiative to accelerate clean energy adoption by developing a library of device learning models that enable predictive control of common distributed energy resources (DERs), including solar and storage inverters, battery storage systems, EV chargers, wind turbines and hydroelectric power systems. The Company expects this initiative to simplify distributed energy resource (DER) integration, prolong asset life, and increase grid resilience.
Utilities, independent power producers (IPPs), and microgrid developers are faced with reliability challenges in integrating and managing green energy sources due to their variable nature. Fluctuations in the power provided by these sources can cause costly damage to grid assets, as well as inefficient energy distribution. In addition, extreme weather can knock out entire grids in the absence of autonomously controlled microgrids. Without predictive AI modeling and control of grid assets, these reliability challenges will continue.
Veritone Energy Solutions are predictive, AI-powered solutions that balance and strengthen the grid to increase reliability, reduce operational costs, and improve resilience. Veritone expects a device learning model for Sunny Central solar inverters from SMA - the third largest PV inverter manufacturer according to Wood Mackenzie - will help utilities, operators, and developers with solar assets realize these benefits faster than ever before. This predictive, dynamic, continuously updated decisioning model will reflect the current state of the SMA inverter and will work in conjunction with other dynamic models reflecting the current state of the broader grid, optimizing energy dispatch and informing Veritone controllers at the inverter how to most efficiently manage energy through the device to meet grid demand at the lowest possible cost.
“Our planned compatibility with SMA reflects our continued commitment to accelerate the move to clean energy using AI,” said Chad Steelberg, chairman and CEO of Veritone. “Pre-built predictive models for SMA Sunny Central inverters will help utilities, operators, and developers using these inverters in their grids reap all the benefits of an AI-controlled grid, faster than ever before.”
Patented Veritone CDI edge control agent technology will be used to model and control multiple SMA inverters and synchronize them to enable autonomous grid control and decision making across the network, helping to ensure optimal economic dispatch during normal operations and macro and microgrid resilience during extreme weather events. Compatibility with SMA solar inverters will also enable solar smoothing, which prolongs asset life and reduces the risk of inverter burnout and any resulting environmental damage.
“SMA inverters for PV deliver the next generation of PV power,” said Wolf Kohn, Chief Scientist at Veritone and inventor of Veritone’s patented CDI technology. “We expect our predictive AI models for SMA inverters to significantly boost inverter reliability and longevity when integrating with new and legacy grids.”
Veritone is currently building a library of device learning models for the largest and most innovative clean energy device manufacturers, resulting in “plug-and-play” grid compatibility with Veritone’s aiWARE operating system and predictive energy solutions. Veritone expects this library of device models reflecting behavioral characteristics and power device interactions to more rapidly scale its AI-powered energy business, helping to reach its goal of an interconnected, on-demand, green, and autonomous electrical grid.
For more information on Veritone Energy Solutions, please visit: https://www.veritone.com/solutions/energy/
About Veritone
Veritone (Nasdaq: VERI) is a leading provider of artificial intelligence (AI) technology and solutions. The company’s proprietary operating system, aiWARE™ powers a diverse set of AI applications and intelligent process automation solutions that are transforming both commercial and government organizations. aiWARE orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. The company’s AI developer tools enable its customers and partners to easily develop and deploy custom applications that leverage the power of AI to dramatically improve operational efficiency and unlock untapped opportunities. Veritone is headquartered in Denver, Colorado, and has offices in Costa Mesa, Denver, London, New York and San Diego. To learn more, visit www.veritone.com.
About SMA
As a leading global specialist in photovoltaic and storage system technology, the SMA Group is setting the standards today for the decentralized and renewable energy supply of tomorrow. SMA’s portfolio contains a wide range of efficient PV and battery inverters, holistic system solutions for PV and battery-storage systems of all power classes, intelligent energy management systems and complete solutions for PV diesel hybrid applications. Digital energy services as well as extensive services up to and including operation and maintenance services for PV power plants round off SMA’s range. SMA inverters with a total output of more than 100 gigawatts have been installed in more than 190 countries worldwide. SMA’s multi-award-winning technology is protected by more than 1,600 patents and utility models. Since 2008, the Group’s parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and is listed in the TecDAX index.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding Veritone’s GRID initiative, the expected capabilities of Veritone’s intelligent predictive controllers and other Energy solutions and the anticipated benefits thereof to customers, the Company’s expectation that its GRID initiative will enable the Company to more rapidly scale its AI-powered energy business and help it reach its goal of an interconnected, on-demand, green and autonomous electrical grid, and the Company’s belief that Veritone’s Energy solutions will become the standard for intelligent autonomous grid control. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative other variations thereof owr comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Kristi Labrum
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Cyware’s Cyber Fusion Platform Enables Collaboration on Threat Intelligence Initiatives Between Aviation ISAC’s Stakeholders
NEW YORK & WILMINGTON, Del.--(BUSINESS WIRE)--Cyware, the industry's only Virtual Cyber Fusion Platform provider, today announced a strategic partnership with the Aviation Information and Analysis Center (A-ISAC) to provide A-ISAC and its members with the ability to collect, share, and respond to threat intelligence in a timely manner. Through this partnership, A-ISAC members will be able to leverage Cyware’s Cyber Fusion platform to run more efficient end-to-end security automation, cybersecurity operations, threat hunting, and incident response programs.
A-ISAC is the global consortium for cybersecurity information sharing across the aviation sector, including members that contract directly with the U.S. Department of Defense. Founded in 2014 by seven global aviation companies, the A-ISAC has established itself as the trusted point of coordination around cyber threats for the global aviation community.
“Over the past year, the aviation industry has faced a sharp spike in highly targeted cyber fraud, phishing, and threat actor activity,” said Jeffrey Troy, President and CEO, A-ISAC. “Cyware’s unique offering enables our stakeholders to quickly and effectively collaborate and coordinate on community-vetted, curated threat intelligence and response. The intent is to support members in improving their security operations to build resiliency against the threats targeting the aviation industry and to promote innovation in how they are managing their risk.”
A-ISAC joins dozens of other Community Emergency Response Teams (CERTs) and ISAC's using Cyware’s Situation Awareness Platform (CSAP) and Threat Intelligence Exchange (CTIX) to automatically collect and share security alerts on the changing threat landscape and intelligence around specific attacks.
“We are thrilled to be working with A-ISAC to help fill security gaps in the aviation sector by creating opportunities for real-time collaboration and automation of threat sharing and response,” said Anuj Goel, CEO, Cyware. “We know that the Tier-One priority for A-ISAC member organizations is improving efficiency in the security operations center (SOC) and advancing incident response. Through the power of Cyber Fusion Centers, we are able to support A-ISAC and member objectives by automating threat intelligence and transforming how they look at security orchestration.”
Cyware allows A-ISAC to collect and share security alerts on the changing threat landscape and intelligence around specific attacks in the aviation industry. With Cyware's Situation Awareness Platform (CSAP) and Threat Intelligence Exchange (CTIX), A-ISAC members can also automatically share threat intelligence, including indicators of compromise (IOCs), malware alerts, vulnerability advisories, security incidents, phishing, and spear phishing attacks among its global aviation community.
About Cyware
Cyware helps enterprise cybersecurity teams build platform-agnostic virtual cyber fusion centers. Cyware is transforming security operations by delivering the cybersecurity industry's only Virtual Cyber Fusion Center Platform with next-generation SOAR (security orchestration, automation, and response) technology. As a result, organizations can increase speed and accuracy while reducing costs and analyst burnout. Cyware's Virtual Cyber Fusion solutions make secure collaboration, information sharing, and enhanced threat visibility a reality for enterprises, sharing communities (ISAC/ISAO), MSSPs, and government agencies of all sizes and needs. https://cyware.com/
About the Aviation ISAC
The Aviation ISAC (www.a-isac.com) is an international, non-profit membership association created to facilitate the timely exchange of vulnerabilities, threat intelligence, and best practices to reduce operational risks and provide the means for trusted sharing and professional exchange. With members on five continents, the A-ISAC fosters the foundation of trust underpinning aviation-focused cyber threat intelligence and information sharing designed to better protect global aviation businesses, operations, and services. Membership in the A-ISAC is open to trusted private sector global aviation companies. Our vision is a safe, secure, efficient, and resilient global air transportation system. https://www.a-isac.com
Media:
Alie Dessert
fama PR for Cyware
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AVIATION ISAC
Lori Pierelli
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