Nutanix Cloud Deployment Delivers Agility, Scalability, and Simplified Operations
SAN JOSE, Calif.--(BUSINESS WIRE)--Nutanix (NASDAQ: NTNX), a leader in private, hybrid and multicloud computing, announced today that Serbian energy giant NIS (Naftna Industrija Srbije) has chosen Nutanix to meet the IT demands of the fast-paced, often volatile, energy markets. Additionally, they have implemented Nutanix to simplify IT management and provide a more scalable and agile platform for future developments.
Like many energy companies across the globe, NIS is involved in a diverse range of activities, from oil and gas exploration, refining and distribution to, more recently, the development of electrical and thermal energy from a mix of traditional and renewable sources. However, progressing and managing those businesses in an era of rapid change was putting increasing strains on its legacy infrastructure. These strains limited the company’s ability to cope with day-to-day demand and prevented it from moving the business forward to stay ahead of the competition.
“Rather than an asset, our legacy IT infrastructure was becoming a liability, restricting our ability to keep pace with market pressures and take advantage of new opportunities,” said Dimitry Shevchenko, CIO of NIS. “Like others in our sector, we needed to modernize and do so quickly, moving to a more agile software-defined architecture. For us, that meant hyperconverged infrastructure and, with Nutanix as the clear market leader, it was our obvious first choice.”
Since moving to Nutanix, NIS has seen an approximately 50% performance improvement across its application base and, with Nutanix in its datacenters, they no longer suffer from the constraints imposed by end-of-life servers and network storage. Additionally, the team is able to manage everything from the same Nutanix Prism interface to keep on top of demand, deliver more agile solutions, and trial the latest Nutanix features in support of innovative new projects going forward.
NIS also selected Nutanix Calm to add application-centric automation tools as well as native application orchestration and lifecycle management to the Nutanix cloud platform. This enables NIS to build self-service portals and automate key business processes, significantly simplifying day-to-day operations for the IT team.
“Simple management is fundamental in everything that Nutanix has to offer,” said Andrew Brinded, VP & GM of EMEA, Nutanix. “From being able to manage physical and virtual IT assets together from the same Prism console integrated into the Nutanix cloud platform to tools, like Nutanix Calm, that allow customers to automate business processes and build more intuitive hands-off IT solutions. These solutions can free up staff to work on projects of real value to the business rather than simply fire fighting to keep the datacenter lights on.”
Despite the Covid-19 pandemic, the new infrastructure at NIS was installed and commissioned in record time with help from both Nutanix and local partner S&T Serbia. In addition to migrating workloads to the Nutanix AHV hypervisor, NIS plans to host new SAP HANA development and adopt the latest cloud native container technologies, which will be made easier using Nutanix Karbon, an enterprise Kubernetes management solution designed to dramatically simplify container provisioning, operation, and lifecycle management.
For more information about the NIS deployment, read the full case study here.
About Nutanix
Nutanix is a global leader in cloud software and a pioneer in hyperconverged infrastructure solutions, making computing invisible anywhere. Companies around the world use Nutanix software to leverage a single platform to manage any app at any location at any scale for their private, hybrid and multi-cloud environments. Learn more at www.nutanix.com or follow us on Twitter @nutanix.
© 2021 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or trademarks of Nutanix, Inc. in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This release may contain links to external websites that are not part of Nutanix.com. Nutanix does not control these sites and disclaims all responsibility for the content or accuracy of any external site. Our decision to link to an external site should not be considered an endorsement of any content on such a site. Certain information contained in this press release may relate to or be based on studies, publications, surveys and other data obtained from third-party sources and our own internal estimates and research. While we believe these third-party studies, publications, surveys and other data are reliable as of the date of this press release, they have not independently verified, and we make no representation as to the adequacy, fairness, accuracy, or completeness of any information obtained from third-party sources.
This release may contain express and implied forward-looking statements, which are not historical facts and are instead based on our current expectations, estimates and beliefs. The accuracy of such statements involves risks and uncertainties and depends upon future events, including those that may be beyond our control, and actual results may differ materially and adversely from those anticipated or implied by such statements. Any forward-looking statements included herein speak only as of the date hereof and, except as required by law, we assume no obligation to update or otherwise revise any of such forward-looking statements to reflect subsequent events or circumstances.
Nutanix
Giulia Borracci
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MADISON, Wis.--(BUSINESS WIRE)--The board of directors of MGE Energy, Inc. (Nasdaq: MGEE) today declared the regular quarterly dividend of $0.37 per share on the outstanding shares of the company's common stock, payable June 15, 2021, to shareholders of record at the close of business June 1, 2021.
MGE Energy has increased its dividend annually for the past 45 years and has paid cash dividends for more than 110 years.
About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties.
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SEATTLE--(BUSINESS WIRE)--Zap Energy, a pioneer in fusion energy technology, today announced that it has raised $27.5 million in Series B funding. The round was led by Addition, with participation from Energy Impact Partners, GA Capital and Fourth Realm, as well as existing investors Chevron Technology Ventures and LowerCarbon Capital. The new financing comes just nine months after closing a $6.5 million Series A funding round, following the achievement of a major scientific milestone in late 2020 that brings Zap Energy closer to energy breakeven.
Zap Energy is building the most compact, low-cost and scalable fusion reactor that does not employ magnets. Zap Energy achieved thermonuclear fusion in 2018 and is targeting scientific energy breakeven by 2023. Success would mean the production of inexpensive and unlimited carbon-free energy.
“Our vision is to power the planet,” said Benj Conway, President and Co-Founder of Zap Energy. “We are thrilled to partner with Addition and our new investors who share our conviction that Zap Energy’s technology can become one of the key enablers for a sustainable global energy future.”
“As the transition towards sustainable energy accelerates, Zap Energy has the potential to change the way global energy is produced,” said Lee Fixel, Founder of Addition. “The Zap Energy team has developed transformational technology that will reduce the cost of and shorten the path to commercial fusion energy, and we look forward to supporting their continued innovation and growth.”
Zap Energy will use this latest funding round to advance key technologies relating to their fusion reactor.
About Zap Energy
Zap Energy was co-founded in 2017 and is managed by President, Benj Conway, Chief Technology Officer, Brian Nelson and Chief Science Officer, Uri Shumlak. Zap Energy’s sheared-flow stabilized (SFS) Z-pinch reactor requires no magnetic fields or auxiliary heating. Its compact, simple modular reactor is tolerant to high-energy neutrons. The technology builds on work first pioneered by the FuZE team at University of Washington together with Lawrence Livermore National Laboratory. Zap Energy is based in Seattle, WA.
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Applications Being Accepted for 2021 Grants Totaling $1.4 Million
SACRAMENTO, Calif.--(BUSINESS WIRE)--To raise awareness about wildfire safety and bring resources to underserved communities in high fire-threat areas in 2021, Pacific Gas and Electric Company (PG&E) is joining forces again with the California Fire Foundation (CFF), providing $1.4 million for CFF’s Wildfire Safety and Preparedness Program (WSPP).
Fire departments and community-based organizations in California can submit applications beginning this week for grant funding to address ongoing wildfire risk. Applications must be submitted by June 18, 2021 at the CFF website. Award notification will begin on July 31, 2021.
Over the past three years, CFF has awarded grants to 145 fire departments and fire agencies statewide with a focus on Northern and Central California. Funding targets specific communities identified as having extreme or elevated fire risk as identified by the California Public Utilities Commission High Fire-Threat District map.
“The Wildfire Safety and Preparedness Program is a partnership with PG&E that was created to address the new normal in California of drier and hotter seasons. There is no end to a wildfire season in our state now, and residents must understand the steps to take to evacuate safely,” said Rick Martinez, Executive Director of the CFF. “After 2020 surpassed 2018 in the number of acres burned, it demonstrates an alarming trend that proves programs like WSPP are necessary for Californians to stay ahead and stay alert.”
“Keeping our customers and our hometowns safe is our most important responsibility. Our ongoing partnership with the California Fire Foundation and support for this important program brings resources and awareness to underserved residents living in high fire-threat areas. Being a good neighbor means showing up for those in need. We have increased our support this year to reach even more communities with important fire-safety information and further strengthen local fire resilience,” said Sumeet Singh, PG&E Senior Vice President and Chief Risk Officer.
How the Grants Help Communities
PG&E’s contribution continues a four-year collaboration with CFF. PG&E has provided $4.6 million in total support for fire safety awareness through the WSPP. The charitable contribution is shareholder-funded, not funded by PG&E customers.
Since 2018, WSPP has funded:
The WSPP has worked hard to overcome language barriers by developing and distributing in-language fire-safety messaging targeting Spanish, Chinese, Hmong, and Vietnamese communities. These efforts include a comprehensive media campaign consisting of outdoor billboards and in-language television, radio, and digital ads.
The CFF, a non-profit 501(c)(3) organization, aids firefighters, their families and the communities they protect. The CFF’s Firefighters on Your Side program, also supported by PG&E, provides multi-lingual, culturally relevant fire safety messaging in both digital and print form, to assist the public in staying safe.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
About California Fire Foundation
The California Fire Foundation, a non-profit 501 (c)(3) organization, provides emotional and financial assistance to families of fallen firefighters, firefighters and the communities they protect. Formed in 1987 by California Professional Firefighters, the California Fire Foundation’s mandate includes an array of survivor and victim assistance projects and community initiatives. cafirefoundation.org
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The company also announced it has completed the hiring of a full development team.
AUSTIN, Texas--(BUSINESS WIRE)--#solarenergy--Solar Proponent LLC, a utility-scale solar developer based in Austin and focused on the ERCOT market in Texas, today announced veteran solar executive Alan Stringer has joined the company as Chief Operating Officer. Solar Proponent is backed by a capital commitment from EnCap Investments. L.P. (“EnCap”), the leading provider of equity capital to the independent sector of the U.S. energy industry. Yorktown Partners, an energy-focused private equity firm, Mercuria Energy and SolarPro management also have invested in the company.
“Alan has developed and led construction of more than eight gigawatts of solar generation, and he is uniquely qualified to lead Solar Proponent’s engineering, procurement and construction (“EPC”) operations. We are thrilled to have Alan join our executive team,” said Solar Proponent Chief Executive Officer Cassandra Rinaldo.
Before he joined Solar Proponent, Mr. Stringer served as vice president of EPC at First Solar (NASDAQ: FSLR), where he was responsible for construction of approximately $7 billion in solar projects. He most recently served as chief technical officer at Ceiba Energy Management.
“I’ve known and respected Alan for many years. He transformed EPC operations at First Solar through implementation of risk-based design, sourcing and construction processes, using new technology to reduce costs while improving quality, productivity and safety,” said EnCap Energy Transition Managing Partner Jim Hughes, the former CEO of First Solar and a board adviser to Solar Proponent. “Alan will be instrumental in advancing the company’s portfolio through construction as Solar Proponent contributes to ERCOT’s evolution to a reliable and diverse grid that is less dependent on carbon-intensive sources of power.”
The company also announced it has completed the hiring of its development team led by Chief Development Officer Jeffrey Sabins. “The composition of the Solar Proponent development team reflects our commitment to diversity and includes individuals from leading renewable energy companies with deep experience in ERCOT solar development,” Mr. Sabins said.
“Solar Proponent has a highly capable team with the full spectrum of solar development and construction expertise enabling it to create a premier portfolio of solar projects in 2021 and beyond,” said EnCap Energy Transition Managing Partner Tim Rebhorn, who serves as the chairman of Solar Proponent’s board.
About Solar Proponent (“SolarPro”)
SolarPro’s mission is to leverage the enormous potential of solar power to create sustainable electricity infrastructure. With decades of combined experience in the energy sector, the Solar Proponent team is focused on building value for investors, communities, and landowners through responsibly developed solar generation projects. For more information, visit www.solarproponent.com.
Casey Nikoloric, TEN|10 Group
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#AmeriGas--UGI Corporation (NYSE: UGI) announced the appointment of three executives to leadership roles in its Global LPG line of business, effective June 1.
Mr. Gallagher, who joined UGI in 1990, served as Vice President, Finance & CFO of AmeriGas Propane (2013 to 2018) and most recently as President and CEO of AmeriGas Propane (since 2018). Previously he served as Treasurer of both UGI and AmeriGas, as Director - Treasury Services and Investor Relations of UGI, and Director of Corporate Development at AmeriGas and in various finance and operating roles of increasing responsibility.
Mr. Ladner returns to AmeriGas Propane as President after serving for the past 10 years in various leadership roles at UGI International, including as Chief Operating Officer (since 2018), based in Paris, France. He previously served as head of UGI International’s Central and East Regions, based in Warsaw, Poland, as well as in various sales and marketing positions for UGI’s subsidiary, Flaga GmbH. Prior to UGI International, Ladner held several management roles of increasing responsibility at AmeriGas Propane.
Ms. Broseta joined UGI in 2019 as Vice President of UGI International’s Region West and President of Antargaz, based in Paris, France. She has more than 15 years of operational, technology, strategy, and leadership experience in the transportation sector in Europe, including as International CEO at Transdev, a company that specializes in integrated transportation services, and various leadership roles at RATP, a French transportation company. Prior to joining UGI, she led teams in continental Europe, the UK, and in South Africa.
“I am pleased that UGI has such highly-qualified and effective leaders as Hugh, Paul and Laurence to take on these critical roles and help drive the company’s continued focus on our customers, operational excellence, innovation and growth,” said Roger, Perreault, who will become UGI’s President and CEO on June 26. Mr. Perreault is currently and will continue to serve as UGI’s Executive Vice President, Global LPG (since 2018) and has served as President of UGI International since 2015. “They have proven track records and have positioned UGI for continued success in a complex and competitive landscape.”
About UGI Global LPG
AmeriGas is the largest retail propane marketer in the United States, with more than 1 billion gallons sold annually to 1.5 million customers in all 50 states from approximately 1,800 locations.
UGI International is a leading distributor of liquefied petroleum gas (LPG) in 17 countries in western and central Europe, operating under seven distinct brands, with approximately 2,500 employees. It also operates an energy marketing business for natural gas and electricity in France, Belgium, the Netherlands, and the UK. UGI International’s businesses are among market leaders in their respective countries with more than 1 billion gallons of LPG delivered throughout Europe annually.
About UGI Corporation
UGI Corporation is an international energy distribution and services company that provides superior service in delivering a range of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in twelve states and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
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CALGARY, Alberta--(BUSINESS WIRE)--#alberta--Inclusive Energy Ltd. (“Inclusive”), a leader in the oil and gas services sector, is pleased to announce a strategic partnership with ROK Resources Inc. (“ROK”), whereby Inclusive has invested in ROK as part of a recent private placement financing. ROK is a junior oil and gas producer focused on developing its light oil properties in the Glen Ewen area of southeast Saskatchewan. The investment in ROK is an integral part of Inclusive Energy’s recent initiative to diversify its investments into well-managed upstream energy companies, focused on return on capital and value creation. The funding by Inclusive will complement its existing oilfield equipment business and the partnership will offer unique synergies and efficiencies for ROK to accelerate growth. Inclusive Energy is pleased to be working with ROK Resources, and Inclusive will provide both equipment and capital for ROK’s operations and we look forward to advancing further opportunities through our creative partnership. The collaboration of both companies is expected to bring long-term growth and value to their stakeholders and further build their business relationship.
In addition, Inclusive Energy is pleased to announce that it has entered into a funding arrangement with Jayhawk Resources Ltd. (“Jayhawk”), whereby Inclusive will provide financing and a credit facility to Jayhawk to be utilized for strategic and complementary acquisitions in Jayhawk’s core operating areas. Jayhawk Resources is a junior oil and natural gas producer, primarily operating natural gas properties in Alberta and focused on operating efficiencies, production optimization and development opportunities.
As part of its recently announced initiative to diversify and expand its investments in the North American energy and natural resource industries, Inclusive Energy is actively seeking investment opportunities in energy companies, projects and assets which offer a strong financial return and sustainable growth potential. Inclusive Energy offers a broad range of flexible, creative, and accretive financing alternatives to assist companies or projects with capital requirements.
Bilal Hydrie, President and CEO of Inclusive Energy, expounds that, “The creation of these strategic partnerships adds to the strength of Inclusive’s position in the oil and gas services sector and is in line with its diversification in the North American energy and natural resource industries, including the upstream, midstream, infrastructure, oilfield services and renewables sectors.” Furthermore, he adds, “We are proud to promote foreign investment to boost the Canadian economy and we will continue to synergize with our global partners with operations in nine other countries, including the United Kingdom, Switzerland, UAE, Pakistan and China.”
Inclusive Energy’s capital investment fund complements its existing oilfield service business, where the company has established itself as an industry leader, focused on delivering the highest standard of customer service, quality, and value to its clients. Inclusive offers flexible payment options to industry on an extensive inventory of production and process equipment.
Bilal Hydrie, President and CEO
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Inclusivenergy.com
GURGAON, India--(BUSINESS WIRE)--$RMGB--ReNew Power (“ReNew” or “the Company”), India’s leading renewable energy company, and RMG Acquisition Corporation II (“RMG”) (NASDAQ: RMGB), a publicly-traded special purpose acquisition company sponsored by Riverside Management Group, today announced the filing of a public proxy statement/prospectus on Form F-4 by ReNew Energy Global plc with the U.S. Securities and Exchange Commission (“SEC”) in connection with their recently announced proposed business combination. While the proxy statement/prospectus has not yet become effective and the information contained therein is subject to change, it provides important information about ReNew’s business and operations, proposed business combination with RMG and the proposals to be considered by the RMG shareholders. The current filing can be accessed here: https://www.sec.gov/Archives/edgar/data/0001848763/000119312521164239/d102215df4.htm
Completion of the business combination, which is expected to close early in the third quarter of 2021, is subject to approval by RMG shareholders and other customary closing conditions, including the proxy statement/prospectus being declared effective by the SEC. The combined company will be led by Sumant Sinha, Founder, Chairman and Chief Executive Officer of ReNew.
ReNew is expected to receive approximately $610 million in net proceeds, enabling the company to fully fund its planned expansion through 2025. After the business combination is effected, existing ReNew shareholders will hold approximately 70% of the combined company. The transaction includes a fully committed, upsized $855 million PIPE from investors that include BlackRock, BNP Paribas Energy Transition Fund, Mr. Chamath Palihapitiya, Sylebra Capital, TT International Asset Management Ltd, TT Environmental Solutions Fund and Zimmer Partners, as well as $345 million of gross cash held in trust by RMG.
Additional information about the transaction can be viewed here: https://renewpower.in/investor-relations/
About ReNew Power
ReNew Power is India’s leading renewable energy independent power producer by capacity and is the 13th largest global renewable IPP by operational capacity. ReNew develops, builds, owns, and operates utility-scale wind energy projects, utility-scale solar energy projects, utility-scale firm power projects and distributed solar energy projects. As of March 31, 2021, ReNew Power had a total capacity of close to 10 GW of wind and solar energy projects across India, including commissioned and committed projects. ReNew has a strong track record of organic and inorganic growth. ReNew’s current group of stockholders contain several marquee investors including Goldman Sachs, CPP Investments, Abu Dhabi Investment Authority, GEF SACEF and JERA.
About RMG Acquisition Corporation II
RMG Acquisition Corporation II (NASDAQ: RMGB) is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses. RMG II raised $345 million in its December 14, 2020 IPO, which was upsized due to strong demand and included the underwriters’ full over-allotment option. RMG II is sponsored and led by the management team of Jim Carpenter, Bob Mancini, and Phil Kassin, who together have over 100 years of combined principal investment, operational, transactional, and CEO and public company board level leadership experience. RMG II intends to capitalize on the ability of its management team to identify, acquire and operate businesses across a broad range of sectors that may provide opportunities for attractive long-term risk-adjusted returns. www.rmgacquisition.com/
Important Information About the Business Combination and Where to Find It
In connection with the proposed business combination, ReNew Global and RMG II filed a preliminary proxy statement/prospectus with the Securities and Exchange Commission (“SEC”) on May 17, 2021 and intend to file a definitive proxy statement/prospectus as well as any amendments required. The preliminary and definitive proxy statements/prospectuses and other relevant documents will be sent or given to the shareholders of RMG II as of the record date established for voting on the proposed business combination and will contain important information about the proposed business combination and related matters. Shareholders of RMG II and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with RMG II’s solicitation of proxies for the meeting of shareholders to be held to approve, among other things, the proposed business combination because the proxy statement/prospectus will contain important information about RMG II, ReNew and the proposed business combination. When available, the definitive proxy statement/prospectus will be mailed to RMG II’s shareholders as of a record date to be established for voting on the proposed business combination. Shareholders will also be able to obtain copies of the proxy statement/prospectus, without charge, once available, at the SEC’s website at www.sec.gov/ or by directing a request to: RMG Acquisition Corporation II, 50 West Street, Suite 40C, New York, NY 10006, Attention: Secretary, telephone: (212) 785-2579. 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
RMG II, ReNew Global, ReNew and their respective directors and executive officers may be deemed participants in the solicitation of proxies from RMG II’s shareholders in connection with the business combination. RMG II’s shareholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of RMG II in RMG II’s amendment no. 2 to its Annual Report on Form 10-K/A filed with the SEC on May 11, 2021 in connection with RMG II’s initial public offering. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to RMG II’s shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination will be included in the proxy statement/prospectus that ReNew Global and RMG II filed with the SEC, and any amendments thereto.
Forward-Looking Statements
This press release includes certain statements that are not historical facts but 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 RMG II’s proposed business combination with ReNew, RMG II’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 RMG II and ReNew 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 RMG II or ReNew. 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 shareholders of RMG II or ReNew 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 ReNew; the amount of redemption requests made by RMG II’s shareholders; the overall level of consumer demand for ReNew’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 ReNew’s customers; ReNew’s ability to implement its business strategy; changes in governmental regulation, ReNew’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to ReNew’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response; stability of ReNew’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 ReNew and its suppliers and customers; ReNew’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, RMG II’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 RMG II’s or ReNew’s financial results is included from time to time in RMG II’s public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the preliminary and the definitive proxy statements/prospectuses that RMG II files with the SEC in connection with RMG II’s solicitation of proxies for the meeting of shareholders to be held to approve, among other things, the proposed business combination. If any of these risks materialize or RMG II’s or ReNew’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 RMG II nor ReNew presently know, or that RMG II and ReNew 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 RMG II’s and ReNew’s expectations, plans or forecasts of future events and views as of the date of this press release. RMG II and ReNew anticipate that subsequent events and developments will cause their assessments to change. However, while RMG II and ReNew may elect to update these forward-looking statements at some point in the future, RMG II and ReNew specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing RMG II’s or ReNew’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 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 proposed transactions 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.
This press release should not be considered as an advertisement, invitation, offer, sale or solicitation of an offer to subscribe for or purchase any securities, whether by way of private placement or to the public in India nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or any investment decision in relation thereto in India.
Securities will not be offered or sold, and have not been offered or sold, in India by means of any offering document or other document or material relating to the securities, directly or indirectly, to any person or to the public in India. This communication or any offering memorandum or prospectus (or equivalent disclosure document) produced in connection with the offering of securities is not an offer document or an offering circular or a "private placement offer cum application letter" or a "prospectus" under the Companies Act, 2013, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended or any other applicable law in India. This announcement has not been and will not be registered as a "prospectus" or a statement in lieu of prospectus in respect of a public offer, information memorandum or “private placement offer cum application letter” or any other offering material with any Registrar of Companies in India or the Securities and Exchange Board of India or any other statutory or regulatory body of like nature in India, save and except for any information relating to the securities which is mandatorily required to be disclosed or filed in India under any applicable laws, and no such document will be circulated or distributed to any person in India.
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ICR Inc.
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New vent meets electric vehicle requirements for battery pack exhaust at lower pressures
MINNEAPOLIS--(BUSINESS WIRE)--Donaldson Company, Inc. (NYSE:DCI), a leading worldwide manufacturer of innovative filtration products and solutions, has expanded its dual-stage battery pack vent line with the addition of the Dual-Stage Flex battery vent. The new battery vent enables pressure relief of automotive battery packs at lower pressures, helping support the life and reliability of electric vehicle (EV) batteries.
Battery packs are the heaviest and most expensive EV component. As the industry evolves, so has the need to lower the weight of the battery pack, which can be reduced with thinner battery pack walls. However, these thinner walls can’t withstand higher pressures within the battery pack. The new Dual-Stage Flex battery vent was developed to address this low-pressure requirement.
Donaldson’s Dual-Stage Flex battery vent contains a one-way umbrella valve that allows for quick exhaust if pressures within the battery pack increase. The low opening pressure means the internal pressure can quickly release through a flexible valve, helping avoid potential further disruption to other battery pack cells.
The dual-stage vent offering from Donaldson now includes the Flex and Burst vent options – both provide sealing and guarding against contaminants; offer continuous pressure equalization to help protect the battery housing from excess over- or under-pressure; expel damp air for effective ventilation; and help with mitigation of gasses in the case of a thermal runaway event inside the battery.
“The Dual-Stage Flex battery vent is easy to integrate into most battery pack configurations, and is a great choice for electric vehicle manufacturers looking for a venting solution with low opening pressure,” said Shane Campbell, senior product development engineer with Donaldson Integrated Venting Solutions. “Both of our dual-stage vents feature Donaldson’s proprietary Tetratex™ ePTFE filtration membrane that is engineered for maximum airflow and offers advanced ingress protection.”
For more information on the Dual-Stage Flex battery vent or Donaldson’s full range of integrated venting solutions, visit www.donaldson.com/en-us/venting/technical-articles/protecting-battery-enclosures-dual-stage-venting/ or email This email address is being protected from spambots. You need JavaScript enabled to view it..
About Donaldson Company, Inc.
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OE brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.
Dave Viertel 952 887-3165
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE:AGR) will participate in the AGA Financial Forum beginning on Wednesday, May 19, 2021. Investors and other interested parties will be able to access a copy of the marketing materials in the Investors section of the Company’s website. Click here for direct access.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $38 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
Analysts: Patricia Cosgel, 203.499.2624
MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) highlights its asset growth and renewable generation investments in its investor newsletter, Inside View, which also includes the following topics:
- Renewable, technology investments transforming your community energy company
- Planned retirement of the Columbia Energy Center
- Utility’s planned downtown charging hub for electric vehicles
- Company’s Report on Giving
The newsletter is available on MGE Energy's website at:
http://www.mgeenergy.com/insideview
Inside View is published periodically to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.3 billion, and its 2020 revenues were $539 million.
Investor relations contact
Ken Frassetto
Director - Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Kao Has Set New Targets for 1.5°C Science Based Target Initiative Certification, and Is Aiming to Join RE100
TOKYO--(BUSINESS WIRE)--#CO2--Kao Corporation (TOKYO:4452) has set new targets for realizing a decarbonized society and is aiming to reduce its carbon dioxide (CO2) emissions to zero by 2040, and become a carbon negative company by 2050. Consequently, Kao is now seeking to upgrade the 2.0°C target certification it was awarded by the Science Based Targets initiative (SBTi)*1 in 2019 to 1.5°C. It has also signed up to the “Business Ambition for 1.5°C” initiative, which was launched by the UN Global Compact, the SBTi, and We Mean Business. This is a corporate pledge for businesses to set science-based targets aligned with limiting global temperature rise to 1.5°C instead of 2.0°C. In addition, Kao is aiming to join RE100, an international program which brings together hundreds of large businesses committed to 100% renewable electricity.
*1 The SBTi is an international joint initiative by the CDP, the UN Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The SBTi provides science-based verification and certification as to whether the greenhouse gas reduction targets set by business enterprises are consistent with the decarbonization levels mandated by the Paris Agreement.
The Kao Group has been working with a variety of stakeholders to reduce the environmental impact throughout their products lifecycles. In April 2019, Kao defined a sustainable lifestyle in an age of increasing consumer needs as the Kirei Lifestyle, and developed the Kirei Lifestyle Plan (KLP), a new ESG Strategy. The Japanese word 'kirei' describes something that is both clean and beautiful. For Kao, Kirei not only encapsulates appearance, but also attitude—to create beauty for oneself, other people, and for the world around us. Mid- to long-term targets have been announced for each of the 19 “Kao Actions” as specified by the KLP, which includes decarbonization.
Recently, Kao’s responsibilities have grown as well as the role it is expected to play in relation to tackling climate change caused by global warming. In order to be able to deliver a Kirei Lifestyle not only to today’s consumers but also to the consumers of the future, Kao has set new decarbonization objectives aimed at the realization of a decarbonized society. By implementing Innovation in Reduction and Innovation in Recycling with regards to CO2, Kao is aiming to achieve carbon zero by 2040, and carbon negative 2050 in its business activities. Kao is also proceeding with the development of products, services, and technologies that will contribute towards reducing CO2 emissions in society as a whole.
The Kao Group’s new decarbonization objectives
Aiming to be carbon zero by 2040, and carbon negative by 2050.
CO2 related Innovation in Reduction /Targets to achieve zero CO2 emissions by 2040
By 2030, Kao will have reduced Scope 1+2*2 CO2 emissions (absolute value) by 55% (taking 2017 as the base year) *3
*2 The volume of greenhouse gases emitted directly by business enterprises and other organizations.
*3 1.5°C target certification from the SBTi has been applied for.
By 2030, 100% of the electricity used will be sourced from renewable energy*4
Kao is aiming to join the RE100 initiative, and will continue to use renewable energy in its business practices with the adoption of photovoltaic electricity generation equipment and the purchase of electricity generated from renewable energy.
*4 Kao has applied for RE100
By 2030, Kao will have reduced CO2 emissions (absolute value) throughout the product lifecycle*5 by 22% (taking 2017 as the base year)*6
*5 The volume of CO2 emissions deriving from raw materials procurement, manufacturing, transportation, product usage, and disposal of used products.
*6 1.5°C target certification from the SBTi has been applied for.
By 2030, CO2 emissions in society as a whole will have been reduced by 10 million tons through the use of Kao products and services
In its Consumer Products business and Chemical business, Kao will promote the development of products, services, and technologies that contribute towards the sustainability of society.
CO2 related Innovation in Recycling/ Targets to achieve negative CO2 emissions by 2050
Kao will develop technology that enables CO2 to be used as a raw material.
About Kao
Kao creates high-value-added products that enrich the lives of consumers around the world. Through its portfolio of over 20 leading brands such as Attack, Bioré, Goldwell, Jergens, John Frieda, Kanebo, Laurier, Merries, and Molton Brown, Kao is part of the everyday lives of people in Asia, Oceania, North America, and Europe. Combined with its chemical division, which contributes to a wide range of industries, Kao generates about 1,400 billion yen in annual sales. Kao employs about 33,000 people worldwide and has 130 years of history in innovation. Please visit the Kao Group website for updated information.
https://www.kao.com/global/en/
Related Information
Kao Sustainability website
https://www.kao.com/global/en/sustainability/
Kao launches new ESG Strategy “Kirei Lifestyle Plan” to support consumer lifestyle changes
https://www.kao.com/global/en/news/sustainability/2019/20190422-001/
Kao’s New Challenges for the Future: Accelerating Purposeful Business Commitment with ESG
https://www.kao.com/global/en/news/business-finance/2019/20190926-001/
Media inquiries should be directed to:
Hiwako Yoshino
Corporate Strategy
Kao Corporation
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SAN JOSE, Calif.--(BUSINESS WIRE)--Lumileds, a global leader in innovative lighting solutions, has released its 2020 Sustainability Report that details the company’s progress in supporting the transition to a low-carbon and sustainable economy. In the report, Lumileds highlights how its lighting solutions contribute to positive changes in energy usage, safety, and health and well-being, supporting the company’s commitment to making the world safer, more sustainable, and beautiful with light. In 2020, the company averted 6.42 metric tons of use-phase CO2 through its LED products. Lumileds follows a formalized sustainability agenda that identifies specific priorities and tracks progress.
Lumileds has aligned its sustainability efforts with external frameworks such as the United Nations Sustainable Development Goals (SDGs) and identified four SDGs where the most significant contribution can be made: Good Health and Well-Being, Affordable and Clean Energy, Responsible Consumption and Production, and Climate Action. Lumileds’ Climate Action and environmental results in 2020 were significant with reductions of Greenhouse Gas Emissions, Energy Consumed, Waste Produced, and Water Used.
“Despite the challenges of a global pandemic and its impact on the end markets we serve, Lumileds remained committed and on track toward reaching our sustainability goals,” said Matt Roney, CEO. “Our scientists and engineers continued to increase product performance while achieving significant reductions in energy use, carbon emissions, waste generated, and water consumption.”
An intrinsic part of Lumileds’ mission is its commitment to a safe workplace with diversity and inclusion as core values. Employee Health and Safety remains the highest priority. In 2020 all Lumileds’ manufacturing sites were migrated and certified from OHSAS 18001 to ISO 45001 as the basis for its Occupational Health and Safety Management System.
Lumileds recently reviewed its environmental, social, and governance issues that have the greatest impact on its business and the highest importance to its stakeholders. From that effort, nine priority issues form the focus of Lumileds’ sustainability efforts. Those are:
Employee Health and Safety |
Product Energy Efficiency |
Circular Economy |
Business Ethics |
Responsible Supply Chain |
Hazardous Substances |
Employee Engagement and Workforce Diversity |
Improving Vehicle and Road Safety |
Climate Change and Carbon Footprint |
The priority issues have been used as the foundation for our 2025 commitments which include reducing our environmental footprint by more than 15% on energy, emissions, water and waste as well as achieving Supplier Sustainability Performance at 95%. Complete details on Lumileds’ sustainability efforts can be found our website at https://lumileds.com/sustainability.
About Lumileds
For automotive, mobile, IoT and illumination companies who require innovative lighting solutions, Lumileds is a global leader employing more than 7,000 team members operating in over 30 countries. Lumileds partners with its customers to push the boundaries of light.
To learn more about our portfolio of lighting solutions, visit https://lumileds.com.
Steve Landau
Director Marketing Communications
408-710-4090
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World’s first comprehensive energy roadmap shows government actions to rapidly boost clean energy and reduce fossil fuel use can create millions of jobs, lift economic growth and keep net zero in reach
PARIS--(BUSINESS WIRE)--#NetZero2050Roadmap--The world has a viable pathway to building a global energy sector with net-zero emissions in 2050, but it is narrow and requires an unprecedented transformation of how energy is produced, transported and used globally, the International Energy Agency said in a landmark special report released today.
Climate pledges by governments to date – even if fully achieved – would fall well short of what is required to bring global energy-related carbon dioxide (CO2) emissions to net zero by 2050 and give the world an even chance of limiting the global temperature rise to 1.5 °C, according to the new report, Net Zero by 2050: a Roadmap for the Global Energy Sector.
The report is the world’s first comprehensive study of how to transition to a net zero energy system by 2050 while ensuring stable and affordable energy supplies, providing universal energy access, and enabling robust economic growth. It sets out a cost-effective and economically productive pathway, resulting in a clean, dynamic and resilient energy economy dominated by renewables like solar and wind instead of fossil fuels. The report also examines key uncertainties, such as the roles of bioenergy, carbon capture and behavioural changes in reaching net zero.
“Our Roadmap shows the priority actions that are needed today to ensure the opportunity of net-zero emissions by 2050 – narrow but still achievable – is not lost. The scale and speed of the efforts demanded by this critical and formidable goal – our best chance of tackling climate change and limiting global warming to 1.5 °C – make this perhaps the greatest challenge humankind has ever faced,” said Fatih Birol, the IEA Executive Director. “The IEA’s pathway to this brighter future brings a historic surge in clean energy investment that creates millions of new jobs and lifts global economic growth. Moving the world onto that pathway requires strong and credible policy actions from governments, underpinned by much greater international cooperation.”
Building on the IEA’s unrivalled energy modelling tools and expertise, the Roadmap sets out more than 400 milestones to guide the global journey to net zero by 2050. These include, from today, no investment in new fossil fuel supply projects, and no further final investment decisions for new unabated coal plants. By 2035, there are no sales of new internal combustion engine passenger cars, and by 2040, the global electricity sector has already reached net-zero emissions.
In the near term, the report describes a net zero pathway that requires the immediate and massive deployment of all available clean and efficient energy technologies, combined with a major global push to accelerate innovation. The pathway calls for annual additions of solar PV to reach 630 gigawatts by 2030, and those of wind power to reach 390 gigawatts. Together, this is four times the record level set in 2020. For solar PV, it is equivalent to installing the world’s current largest solar park roughly every day. A major worldwide push to increase energy efficiency is also an essential part of these efforts, resulting in the global rate of energy efficiency improvements averaging 4% a year through 2030 – about three times the average over the last two decades.
Most of the global reductions in CO2 emissions between now and 2030 in the net zero pathway come from technologies readily available today. But in 2050, almost half the reductions come from technologies that are currently only at the demonstration or prototype phase. This demands that governments quickly increase and reprioritise their spending on research and development – as well as on demonstrating and deploying clean energy technologies – putting them at the core of energy and climate policy. Progress in the areas of advanced batteries, electrolysers for hydrogen, and direct air capture and storage can be particularly impactful.
A transition of such scale and speed cannot be achieved without sustained support and participation from citizens, whose lives will be affected in multiple ways.
“The clean energy transition is for and about people,” said Dr Birol. “Our Roadmap shows that the enormous challenge of rapidly transitioning to a net zero energy system is also a huge opportunity for our economies. The transition must be fair and inclusive, leaving nobody behind. We have to ensure that developing economies receive the financing and technological know-how they need to build out their energy systems to meet the needs of their expanding populations and economies in a sustainable way.”
Providing electricity to around 785 million people who have no access to it and clean cooking solutions to 2.6 billion people who lack them is an integral part of the Roadmap’s net zero pathway. This costs around $40 billion a year, equal to around 1% of average annual energy sector investment. It also brings major health benefits through reductions in indoor air pollution, cutting the number of premature deaths by 2.5 million a year.
Total annual energy investment surges to USD 5 trillion by 2030 in the net zero pathway, adding an extra 0.4 percentage points a year to global GDP growth, based on a joint analysis with the International Monetary Fund. The jump in private and government spending creates millions of jobs in clean energy, including energy efficiency, as well as in the engineering, manufacturing and construction industries. All of this puts global GDP 4% higher in 2030 than it would reach based on current trends.
By 2050, the energy world looks completely different. Global energy demand is around 8% smaller than today, but it serves an economy more than twice as big and a population with 2 billion more people. Almost 90% of electricity generation comes from renewable sources, with wind and solar PV together accounting for almost 70%. Most of the remainder comes from nuclear power. Solar is the world’s single largest source of total energy supply. Fossil fuels fall from almost four-fifths of total energy supply today to slightly over one-fifth. Fossil fuels that remain are used in goods where the carbon is embodied in the product such as plastics, in facilities fitted with carbon capture, and in sectors where low-emissions technology options are scarce.
“The pathway laid out in our Roadmap is global in scope, but each country will need to design its own strategy, taking into account its own specific circumstances,” said Dr Birol. “Plans need to reflect countries’ differing stages of economic development: in our pathway, advanced economies reach net zero before developing economies. The IEA stands ready to support governments in preparing their own national and regional roadmaps, to provide guidance and assistance in implementing them, and to promote international cooperation on accelerating the energy transition worldwide.”
The special report is designed to inform the high-level negotiations that will take place at the 26th Conference of the Parties (COP26) of the United Nations Climate Change Framework Convention in Glasgow in November. It was requested as input to the negotiations by the UK government’s COP26 Presidency.
“I welcome this report, which sets out a clear roadmap to net-zero emissions and shares many of the priorities we have set as the incoming COP Presidency – that we must act now to scale up clean technologies in all sectors and phase out both coal power and polluting vehicles in the coming decade,” said COP26 President-Designate Alok Sharma. “I am encouraged that it underlines the great value of international collaboration, without which the transition to global net zero could be delayed by decades. Our first goal for the UK as COP26 Presidency is to put the world on a path to driving down emissions, until they reach net zero by the middle of this century.”
New energy security challenges will emerge on the way to net zero by 2050 while longstanding ones will remain, even as the role of oil and gas diminishes. The contraction of oil and natural gas production will have far-reaching implications for all the countries and companies that produce these fuels. No new oil and natural gas fields are needed in the net zero pathway, and supplies become increasingly concentrated in a small number of low-cost producers. OPEC’s share of a much-reduced global oil supply grows from around 37% in recent years to 52% in 2050, a level higher than at any point in the history of oil markets.
Growing energy security challenges that result from the increasing importance of electricity include the variability of supply from some renewables and cybersecurity risks. In addition, the rising dependence on critical minerals required for key clean energy technologies and infrastructure brings risks of price volatility and supply disruptions that could hinder the transition.
“Since the IEA’s founding in 1974, one of its core missions has been to promote secure and affordable energy supplies to foster economic growth. This has remained a key concern of our Net Zero Roadmap,” Dr Birol said. “Governments need to create markets for investments in batteries, digital solutions and electricity grids that reward flexibility and enable adequate and reliable supplies of electricity. The rapidly growing role of critical minerals calls for new international mechanisms to ensure both the timely availability of supplies and sustainable production.”
The full report is available for free on the IEA’s website along with an online interactive that highlights some of the key milestones in the pathway that must be achieved in the next three decades to reach net-zero emissions by 2050.
Media contacts International Energy Agency
Merve Erdil
Media Relations Officer
Tel.: +33 784 53 1149
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CHICAGO--(BUSINESS WIRE)--ADM (NYSE: ADM) and the University of Illinois announced today the successful completion of the Illinois Basin - Decatur Project (IBDP), a carbon capture and storage (CCS) project designed to evaluate and test the technology at commercial scale. This is one of two CCS projects located adjacent to ADM’s corn processing plant in Decatur, Illinois.
The first-of-its-kind project was primarily funded through the Midwest Geological Sequestration Consortium (MGSC) by the U.S. Department of Energy – National Energy Technology Laboratory with the goal to confirm the ability of the Mt. Simon Sandstone to accept and store one million metric tons of carbon dioxide over a period of three years, the equivalent of annual emissions from about 1.2 million passenger cars according to EPA calculations. Working together through the MGSC, the Illinois State Geological Survey at the University of Illinois designed, implemented, and monitored the project and ADM was the host and operator.
“ADM is committed to leveraging innovation and technology to advance sustainability across every aspect of our business. Deploying carbon capture and storage technology in our processing operations is one of the many ways we are reducing our environmental footprint,” said Alison Taylor, Chief Sustainability Officer, ADM.
As part of its Strive 35 sustainability goals, ADM aims to reduce absolute greenhouse gas emissions by 25% against a 2019 baseline.
“Today’s announcement marks an important milestone, not only for the Illinois Basin - Decatur Project but also for the advancement of CCS to combat the climate crisis,” said Dr. Jennifer Wilcox, Acting Assistant Secretary for Fossil Energy and Carbon Management at the U.S. Department of Energy. “We congratulate ADM and the University of Illinois, and we’re proud to be a part of this achievement.”
The project utilized 20,000 feet of wells to successfully inject carbon dioxide from ADM’s processing plant more than 6,500 feet underground. More than 2,000 visitors from 30 countries have come to the site throughout the project to learn more about the process and technology.
“The Illinois Basin - Decatur project has successfully achieved its desired outcome to demonstrate that carbon capture and storage can be undertaken safely and effectively. This milestone represents a launching point for the future of this technology, including commercial scale deployments around the world,” said Sallie Greenberg, Principal Scientist Energy & Minerals, Illinois State Geological Survey.
“Addressing climate change in a meaningful way requires carbon emission reductions across the board,” U.S. Senator Dick Durbin (D-IL) said. “The Illinois Basin - Decatur Project shows how carbon capture and storage can play an important role in reducing these emissions. I congratulate ADM and the University of Illinois on reaching this milestone, and will continue advocating for federal investments in a clean energy economy.”
“Agribusiness leaders and producers have a vital role to play in reducing our carbon footprint, and game-changing innovation to do just that is occurring right here in central Illinois,” said Congressman Rodney Davis (IL-13). “ADM and the U of I’s partnership to capture and store carbon underground will serve as a global model on how to reduce emissions. I’d like to thank ADM and the U of I for proactively taking on this project.”
ADM also began injection operations at a second CCS project, the Illinois Industrial Sources Carbon Capture and Storage Project, in Decatur in April 2017. The project is currently permitted to operate through 2022 and has the potential to store up to 5.5 million metric tons of carbon dioxide.
Collectively, these two projects have successfully stored more than 3.4 million metric tons to date.
About Illinois State Geological Survey
The Illinois State Geological Survey (ISGS) is part of the Prairie Research Institute at the University of Illinois at Urbana-Champaign. The ISGS is a premier state Geological Survey serving the needs of Illinois with earth science information relevant to the State's environmental quality, economic vitality, and public safety.
About ADM
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
Source: Corporate Release
ADM Media Relations
Jackie Anderson
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312-634-8484
This dedicated capability supports the development of the Australian Commonwealth’s Industry Capability and Sovereign Shipbuilding Programs
PARIS-LA DÉFENSE, France--(BUSINESS WIRE)--Bureau Veritas, a world leader in testing, inspection, and certification (TIC), has celebrated the opening of a new laboratory and testing facility in Regency Park close to Port Adelaide, the hub for Australian naval shipbuilding in South Australia. The facility was officially opened by the Premier for South Australia, the Hon. Steven Marshall MP in a ceremony on 11th May 2021.
The newly opened laboratory is offering ISO 17025 NATA (National Association of Testing Authorities) accredited Mechanical Testing on state-of-the-art methods. It demonstrates the commitment of Bureau Veritas to support defence and naval shipbuilding within South Australia. It complements the Group’s existing operations within the state, where 300 staff have been supporting key industry sectors including General Fabrication, Mining and Oil & Gas for more than 50 years.
Alongside the new Regency Park laboratory, a naval liaison office established in Adelaide’s Defence and Space Innovation Precinct - Lot Fourteen enables Bureau Veritas to drive growth in this strategic and emerging sector of the South Australian economy and provide dedicated support for the Royal Australian Navy (RAN).
Premier for South Australia Steven Marshall declared: “Bureau Veritas’ commitment to support defence and naval shipbuilding within South Australia is sustaining and creating jobs in this key industry for our state. It was a great privilege to open Bureau Veritas’ brand new laboratory and testing facility and I look forward to seeing the great work this company will be doing as the Federal Government’s naval shipbuilding program ramps up in the coming months and years.”
Rhys LEWIS, Director – Strategic Development – Bureau Veritas Pacific: “This latest investment into South Australia continues our long history of providing independent Testing Inspection & Certification services to strategic and economically significant industries within the state. Whilst this new facility is supporting Sovereign Shipbuilding capability, we have previously supported similar growth and capabilities with developments in Mining and commodities testing businesses within South Australia.”
Pierre de Chateau Thierry, Director, Marine & Offshore, Bureau Veritas Australasia: “Our marine and naval know how, combined with the Group’s global testing and certification expertise, enable to provide a unique mix of maritime and industrial capability. Supporting Australia’s naval ambitions requires that combination of marine technology capabilities with the broader TIC breadth and depth that we offer.”
Bureau Veritas is already supporting the strengths and capabilities of the Royal Australian Navy to prescribe the naval ‘material’ policies and a new standardized naval material rule set for Australia to provide the necessary ecosystem for the design, build and commissioning of naval ships now - and into the future.
About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has 75,000 employees located in more than 1,600 offices and laboratories around the globe. Bureau Veritas helps its clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com, and follow us on Twitter (@bureauveritas) and LinkedIn.
ANALYST/INVESTOR CONTACTS
Laurent Brunelle
+33 (0)1 55 24 76 09
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Florent Chaix
+33 (0)1 55 24 77 80
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MEDIA CONTACTS
Véronique Gielec
+33 (0)1 55 24 76 01
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Nicholas Brown
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DUBLIN--(BUSINESS WIRE)--The "Construction in Nigeria - Key Trends and Opportunities to 2025 (Q2 2021)" report has been added to ResearchAndMarkets.com's offering.
Nigeria's construction industry declined by 7.7% in real terms in 2020, hit by the disruption caused by the COVID-19 pandemic. The industry plummeted by 31.8% year on year (YoY) in Q2 2020, but it improved in the second half of the year - according to the National Bureau of Statistics (NBS), the Nigerian construction industry grew by 1.2% YoY in Q4, and 2.8% in Q3.
In 2021, the industry is expected to improve, assuming a slowdown in COVID-19 cases and recovery in the global economy. The publisher expects the construction industry to grow by 3.9% this year. This growth will be driven by a sharp recovery in output levels compared to periods when works were not permitted or were severely restricted in 2020, with Q2 2021 in particular recording high growth YoY, assuming there is no repeat of the strict lockdown similar to last year.
The industry is expected to post an annual average growth rate of 3.2% in real terms between 2022-2025, supported by the government's plan to invest in the country's infrastructure and energy sector. The 2021 Appropriation Bill, presented by President Buhari to the National Assembly, is designed to continue achieving the goals of the Economic Sustainability Plan, which provides a road map for post-COVID-19 economic recovery to transition from the Economic Recovery and Growth Plan (2017-2020) to the successor Medium-Term National Development Plan (2021-2025).
The industry's output is also expected to be supported by the government's plans to improve energy and transport infrastructure. Moreover, the Petroleum Industry Bill (PIB) will be discussed in the Nigerian Senate, which has faced legislative delays since 2007, and is expected to bring in new investments in energy infrastructure.
The PIB aims to increase government revenue from oil and establish a strong legal and regulatory framework for the Nigerian oil industry. The plunge in global oil prices due to the COVID-19 pandemic, which triggered a 60% collapse in Nigerian government revenues in 2020, may lead to a pressing need to reform the sector. Without the reforms under the PIB, the country remains, to some extent, an uncertain investment.
This report provides detailed market analysis, information, and insights into Nigeria's construction industry, including:
Scope
Key Topics Covered:
1. Executive Summary
2. Construction Industry: At-a-Glance
3. Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
4. Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5. Key Industry Participants
5.1 Contractors
5.2 Consultants
6. Construction Market Data
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/pw5g23
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Liquid Biofuels - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Liquid Biofuels Market to Reach $96.7 Billion by 2027
Amid the COVID-19 crisis, the global market for Liquid Biofuels estimated at US$67.6 Billion in the year 2020, is projected to reach a revised size of US$96.7 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027.
Bioethanol, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$59.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biodiesel segment is readjusted to a revised 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $18.3 Billion, While China is Forecast to Grow at 8.1% CAGR
The Liquid Biofuels market in the U.S. is estimated at US$18.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.1 Billion by the year 2027 trailing a CAGR of 8.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
Other Products Segment to Record 4.1% CAGR
In the global Other Products segment, the USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6 Billion in the year 2020 will reach a projected size of US$7.8 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.9 Billion by the year 2027, while Latin America will expand at a 5.1% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 45 Featured):
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/wdqz18
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Industry to convene in May 2022 to address accelerating a sustainable future for the world’s power and water supply
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--The Abu Dhabi National Energy Company PJSC (“TAQA”), one of the EMEA region’s largest listed integrated utility companies, announced today that it will be the official host of the World Utilities Congress, a new global exhibition and conference addressing the future of low carbon power and water supplies.
Organised by dmg events, the Congress will be an in-person event taking place in Abu Dhabi in May 2022. It will be supported by the UAE’s Ministry of Energy & Infrastructure, Abu Dhabi Department of Energy (DoE), Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), Emirates Nuclear Energy Corporation (ENEC) and Abu Dhabi National Exhibitions Company (ADNEC).
The World Utilities Congress is an opportunity for the global power and water industry to converge and discuss trends and technologies impacting future power and water demand. The focus will be on the proactive measures for decarbonisation, curbing carbon emissions and attracting the long-term capital investment needed for a sustainable future.
Utilities are already at the heart of delivering global reductions in greenhouse gas emissions, whilst keeping the world supplied with vital energy and water. The challenge to decarbonise is immense and requires sector leaders to share knowledge and most importantly – work together. Coming six months after COP26, the World Utilities Congress will provide a platform to help the industry reflect on the next phase.
In the UAE, the ‘National Integrated Energy Model’ was recently launched to support the UAE Energy Strategy to increase the contribution of clean energy into the country’s total energy mix to 50 per cent by 2050. There is also a major shift underway towards energy efficient water production, by way of reverse osmosis desalination.
Event host TAQA is at the centre of the UAE’s efforts having recently announced its 2030 strategy for sustainable and profitable growth. The company is setting out to become a champion of low carbon power and water for Abu Dhabi and will leverage the UAE’s strong global relationships to further the growth of its power and water portfolio at home and internationally.
Jasim Husain Thabet, Group CEO and MD of TAQA, commented: “We are excited to host the World Utilities Congress in Abu Dhabi and hope it will enable us to meet with our peers from around the world to learn from each other and to work together for a sustainable future. Developing low carbon power and water is not just a matter of doing good, but it is also good business. As we at TAQA embark on our own journey, we value our partners and are proud to be part of a sector that is fundamental to delivering a better tomorrow. This new global conference and exhibition will provide a great opportunity for the sector to showcase ideas, solutions and best practice in front of an audience that matters.”
The World Utilities Congress will give power and water utility leaders an unrivalled opportunity to explore innovation and technological advances across the global industry, whilst addressing challenges of rapid urbanisation, decarbonisation, decentralised energy, customer empowerment, sector convergence and more.
To be held at the Abu Dhabi National Exhibition Centre (ADNEC) as both an exhibition and conference, the World Utilities Congress will grant the utilities industry direct access to growth opportunities in the UAE and wider MENA region, as well as with the fast-growing economies of Asia.
Further information available at www.worldutilitiescongress.com
*Source: AETOSWire
Zoe Cusi, +971559416684
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Report identifies best practices for reinvention and notes that industry leaders expect transformative impact from cloud and a boost in value from low-carbon businesses
NEW YORK--(BUSINESS WIRE)--The oil and gas companies most committed to reinventing themselves over the next three years as a result of the COVID-19 pandemic expect to grow their revenues and margins at twice the rate of companies least committed to reinvention, according to a new report from Accenture (NYSE: ACN) that outlines best practices companies should adopt to thrive in the energy transition.
The report, titled “Necessity is the Mother of (Re)invention” features results from a global survey of more than 200 oil and gas executives and introduces Accenture’s “Reinvention Index,” which analyzed the companies across key factors related to reinvention. Accenture classified the 10% of companies that scored the highest in the Index — who are setting the pace for reinvention through bold and decisive action — as reinvention “Leaders,” with those in the bottom 25% labeled “Laggards.”
In response to the COVID-19 pandemic, all of the Leaders plan at least some level of significant changes to their business, with half (50%) intending radical reinvention, compared with only 9% of the Laggards. Almost seven in 10 Leaders (69%) consider enterprise-wide transformation essential to this reinvention and 77% of Leaders see cloud as essential to their business reinvention plans in the next three years.
And reinvention could drive substantial rewards. For instance, Leaders expect minimum margin growth of 7%, on average, in the next three years, more than double that of the Laggards (3%), and expect to grow revenues over the same period by at least 11%, compared with just 6% for the Laggards.
“Competition from new energy sources, environmental accountability, talent scarcity, investor apathy and the COVID-19 pandemic have led most oil and gas companies to realize the need to transform to ensure profitability, embrace sustainability and maintain their relevance,” said Muqsit Ashraf, a senior managing director at Accenture who leads its Energy industry group. “What’s required isn’t just piecemeal transformation but wholesale business reinvention, which is anchored in a new approach that we call our ‘5C’ model.”
The ‘5C’ model for reinvention comprises:
The report notes that attaining carbon neutrality, in particular, is a key facet of the reinvention required to thrive in today’s era of accelerated energy transition. In fact, more than a third (37%) of respondents, including all the Leaders, expect margin improvements of 20% or more from their low-carbon businesses in the next three years. Refocusing investments, operations and products will be key, with 97% of all respondents citing environmental performance as a priority and one-third (33%) naming it their top priority.
The Leaders are already making some headway in this area; almost all (96%) have set ambitious environmental, social and corporate governance (ESG) targets, with the same number committed to reporting frequently on their emission-reduction progress. In contrast, only 56% of Laggards have set targets, with less than half (47%) regularly publicizing their results. Additionally, all Leaders expect ESG performance to have, at the minimum, a strong impact on their competitiveness over the next three years.
Hydrogen and renewable power were identified as the two low-carbon businesses with the most growth potential. In fact, more than half of Leaders expect hydrogen (cited by 62%) and renewable power (54%) to account for more than 7% of their revenues within the decade.
“This decade will be a make-or-break period for the oil and gas industry, which remains rutted in a low-price environment, but the opportunities presented in the report provide a blueprint for reinvention for continued success,” Ashraf said. “All oil and gas companies should aim to emulate the reinvention Leaders to maintain relevance during and after the energy transition. Otherwise, the transition will transform from an opportunity to build a sustainable and profitable future to an existential risk.”
The full report can be found here.
Research Methodology
In early 2021, Accenture conducted its Oil and Gas Reinvention Index research to understand the actions that oil and gas companies are taking to meet the challenges of the energy transition, their progress toward reinvention, and the outcomes they expect to achieve. The research included a survey of 214 C-suite executives from 179 oil and gas companies across five continents. More than four-fifths (83%) of the companies were international or independent oil companies, with the rest national oil companies and oilfield and equipment services companies. More than one-third (36%) of the companies have revenues exceeding US$10 billion, and 48% have annual revenues between US$1 billion and US$10 billion. Accenture also created a Reinvention Index Score, based on selected survey results and composed of equally weighted scores from each of the five identified facets of reinvention (competitiveness, carbon, connectivity, customers and culture). Responses were grouped (n = 214) into companies (n = 179) to determine an aggregated score for each, then companies were defined and grouped. The top 10% of companies were identified as reinvention “Leaders,” with the bottom 25% identified as “Laggards.”
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Accenture helps oil and gas companies develop innovation-led capabilities to drive end-to-end transformation and make energy more available, affordable and sustainable. To learn more, visit Accenture’s oil and gas industry portal.
Copyright ©2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.
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Accenture
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Accenture
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