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 announced its Board of Directors has declared its quarterly cash dividend of $0.0205 per share ($1.25 million in the aggregate) payable on April 13, 2021 to the shareholders of record at the close of business on March 31, 2021.
GeoPark plans to deliver another year of strong operational and financial performance and free cash flow generation while remaining committed to returning value to its shareholders.
NOTICE
Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.
Certain amounts included in this press release have been rounded for ease of presentation.
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 expected future operational and financial performance and free cash flow generation. 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).
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
MEDIA:
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bp to Provide $50 million for Development and Construction of Renewable Natural Gas Production Facilities
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE #RNG--Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced plans that it will work with BP Products North America Inc, a subsidiary of BP p.l.c. (NYSE: BP) to develop, own and operate new renewable natural gas (RNG) facilities at dairies and other agriculture facilities that will produce one of the cleanest fuels in the world.
Carbon emissions captured from dairies and turned into a transportation fuel reduce the harmful effects on long-term climate change. As a result, the California Air Resources Board gives these carbon-negative RNG projects a CI Score (gCO2e/MJ) of -250 (or lower) compared to 97 for diesel and 46 for electric batteries. The demand for this carbon-negative fuel has significantly accelerated over the last few years. Some of the largest heavy-duty fleets in the world such as UPS, Republic Services, New York Metropolitan Transportation Authority and LA Metro, among others, are currently and successfully operating tens of thousands of vehicles on RNG.
Clean Energy is the largest provider of RNG as a transportation fuel in the United States and Canada, the largest RNG fuel provider under the California LCFS program and currently has a joint RNG marketing agreement with bp established in 2018. In addition to the carbon-negative fuel, Clean Energy will continue to source RNG from other providers to supply its network of 550 fueling stations in North America and maintain its leadership position in the California LCFS market. This also marks another strong step in Clean Energy’s ambition to meet the rapidly growing demand by customers for carbon-negative RNG and to deliver 100% Redeem™ branded RNG to its entire fueling infrastructure by 2025, which Clean Energy is well on its way to achieving.
“Carbon-negative RNG is being used today by thousands of vehicles with more and more fleets requesting it every week,” said Andrew J. Littlefair, CEO and president of Clean Energy. “Taking this next step allows us to expand the availability of the fuel while providing dairy owners with a way to make a significant impact on the environment and create an additional revenue stream.”
Clean Energy has made noteworthy commitments to transforming the way the transportation industry powers vehicles to have less of an impact on long-term climate change and believes the use of carbon-negative RNG is the most immediate, cost-effective and has the greatest effect of any alternative. Clean Energy has already identified potential RNG-producing projects and has plans to deploy funds for development and construction expenses in 2021.
For more information, refer to Clean Energy’s Form 8-K.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of the cleanest fuel for the transportation market in the United States and Canada. Through its sales of Redeem™ renewable natural gas (RNG), which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and even up to 300% depending on the source of the RNG. Clean Energy can deliver Redeem through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefication facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S. For more information, visit www.CleanEnergyFuels.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, such as statements regarding, among other things: the completion and timing of the JV; Clean Energy’s plans for its RNG business; increased market adoption of carbon-negative RNG as a vehicle fuel; growth in Clean Energy’s customer base for its Redeem™ RNG vehicle fuel; the strength of Clean Energy’s vehicle fueling infrastructure and its ability to leverage this infrastructure to increase sales of Redeem™ vehicle fuel and to deliver 100% Redeem™ branded RNG to its entire fueling infrastructure by 2025; the benefits of RNG as an alternative vehicle fuel, including economic and environmental benefits; and growth in and certainty of supply of RNG. Actual results and the timing of events could differ materially from those expressed in or implied by these forward-looking statements as a result of a variety of factors, including, among others: Clean Energy’s and BP’s ability to close the JV on the timeline anticipated or at all; supply, demand, use and prices of crude oil, gasoline, diesel, natural gas and alternative fuels, as well as heavy-duty trucks and other vehicles powered by these fuels; the willingness of fleets and other consumers to adopt RNG as a vehicle fuel; and general economic, political, regulatory, market and other conditions. The forward-looking statements made in this press release speak only as of the date of this press release and Clean Energy undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain additional information on these and other risk factors that may cause actual results to differ materially from the forward-looking statements contained in this press release.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
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Investor Contact:
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HOUSTON--(BUSINESS WIRE)--Headline and release summary of release should read: NOV Inc. Announces Full Redemption of Its Outstanding 2.60% Senior Notes Due 2022 (instead of: NOV Inc. Announces Full Redemption of Its Outstanding 2.60% Senior Notes Due 2026).
The updated release reads:
NOV INC. ANNOUNCES FULL REDEMPTION OF ITS OUTSTANDING 2.60% SENIOR NOTES DUE 2022
NOV Inc. (NYSE: NOV) (the “Company”) today announced that it intends to redeem in full all $182.7 million in aggregate principal amount of its outstanding 2.60% senior notes due December 2022 (CUSIP No. 637071AJ0) (the “Notes”). The redemption will be made in accordance with the terms of the indenture governing the Notes and the terms of the notice of redemption.
The Company expects the Notes to be redeemed on April 9, 2021 (the “Redemption Date”), at a redemption price equal to par plus a make-whole premium calculated in accordance with the terms of the Notes and accrued and unpaid interest to, but not including, the Redemption Date (the “Redemption Price”). The Redemption Price will be due and payable on the Redemption Date upon surrender of the Notes. The Company intends to fund the redemption of the 2022 Notes with available cash on hand.
A notice of redemption is being mailed to all registered holders of the Notes by Wells Fargo Bank, National Association, the trustee for the Notes. Copies of the notice of redemption may be obtained from Wells Fargo by calling (800) 344-5128.
This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of any offer to purchase or sell, with respect to the Notes or any other securities.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995
Statements made in this press release that are forward-looking in nature are intended to be “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, and may invoke risks and uncertainties. Such statements include the Company’s ability to fund redemption of the Notes. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. Readers are referred to documents filed by NOV Inc. with the SEC, including the Annual Report on Form 10-K for the year ended December 31, 2020, and to the extent applicable subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which identify significant risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements, except as required by law.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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KNOXVILLE, Tenn.--(BUSINESS WIRE)--#5G--EnerNex, a CESI company, was recently engaged by DSTAR, a consortium of North American utilities, to develop and deliver a comprehensive study on the fifth generation (5G) digital cellular service and its potential impact on utility operations.
EnerNex has completed the study and delivered the final report which:
For DSTAR, the motivation for this report came from an interest from their utility members to hear from fellow utilities, telecommunications carriers, and related equipment providers and uncover their respective expectations, needs, and requirements with a focus on the impact of this technology.
The combination of research, analysis and dialog with study participants identified a number of areas of common need, dependence on standardization, and the requirement for continued collaboration.
“Emerging 5G wireless services promise last mile speeds comparable to coax and fiber, without the attachment, clearance, and right of way issues of wireline drop cables. With the demand for always connected, fixed and mobile users, 5G is happening at a faster pace than originally anticipated,” stated Ron Chebra, Vice President of Grid Modernization with EnerNex. “There are realistic and practical opportunities for electric utilities to be both users and participants in this new world of communications.”
“As the 5G conversation continues to evolve, we look forward to working with our partner utilities and members of the telecommunications industries as they work together to leverage the power of 5G technology that ultimately will provide consumers a better experience,” Paul Jakubczak, Director of Electric and Gas Systems with Fort Pierce Utilities Authority, and DSTAR project technical lead representative. “Our hope is that our members, and the industry at large, will gain an appreciation of the complexity and continuous technological innovations happening in the telecommunications industry, some of the motivation for these advancements, the markets they are targeting, and how the electric utility is or can be involved.”
For access to the report or to learn more, please visit dstar.org.
About DSTAR
DSTAR stands for Distribution Systems Testing, Application, and Research (DSTAR) which is a consortium of electric utilities, facilitated by General Electric International, Inc. through its Energy Consulting Group. Throughout its more than 30+ year history, DSTAR has provided its member utilities with results that are directly applicable to everyday distribution design, planning, engineering, operations, and maintenance. The DSTAR model offers utilities a cost-effective and responsive way to address complex distributed energy challenges that require unique and innovative solutions. The members cooperatively fund research enabling each utility to get significant research and development value out of their individual contributions. For more information on DSTAR, visit dstar.org or geenergyconsulting.com for more information.
About EnerNex
EnerNex, a CESI company, is a leader in providing engineering, consulting, and research services to the electric power industry worldwide. Founded in 2003, the company is focused on helping our clients understand, adopt and leverage new and emerging electric power technologies to advance a cleaner, smarter energy system of the future.
To learn more about CESI, a world-leading innovation, technical consulting and engineering company for the electric power sector, visit: www.cesi.it.
For more information on EnerNex:
Media Contacts
Carrie Owens, Director of Marketing and Communications
+1 865-770-4854
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Bill Jabour, Product Marketing Leader & Interim-Project Coordinator for DSTAR
+1 518-949-8146
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TOKYO--(BUSINESS WIRE)--Toshiba Electronic Devices & Storage Corporation ("Toshiba") has launched 650V super junction power MOSFETs, TK065U65Z, TK090U65Z, TK110U65Z, TK155U65Z and TK190U65Z, in its DTMOSVI series that are housed in a TOLL (TO-leadless) package. Volume production shipments start today.
TOLL is a surface-mount package that has an approximately 27% smaller footprint than the usual D2PAK package. It is also a 4-pin type package that allows Kelvin connection of its signal source terminal for the gate drive. This can reduce the influence by the inductance of the source wire in the package to bring out the high-speed switching performance of the MOSFETs, suppressing oscillation when switching. Compared to Toshiba’s current product, TK090N65Z[1], the turn-on switching loss is reduced by about 68% and turn-off switching loss by about 56%[2][3]. The new MOSFETs are suitable for power supplies for industrial equipment such as data centers and photovoltaic power conditioners.
The combination of TOLL packaging with the latest[4] generation DTMOSVI process technology extends the line-up to cover a low On-resistance of up to 65mΩ(max)[5]. Toshiba will continue to enhance products with the TOLL package to contribute to equipment downsizing and improved efficiency.
Notes:
[1] A product in DTMOSVI series with equivalent voltage and On-resistance that uses the TO-247 package without Kelvin connection
[2] As of March 10, 2021, values measured by Toshiba (Test condition: VDD=400V, VGG=+10V/0V, ID=15A, Rg=10Ω, Ta=25℃).
[3] TK090U65Z only
[4] As of March 10, 2021
[5] TK065U65Z only
Applications
Features
Main Specifications
(Ta=25°C) |
||||||
Part number |
||||||
Package |
Name |
TOLL |
||||
Size typ. (mm) |
9.9x11.68, t:2.3 |
|||||
Absolute maximum ratings |
Drain- source voltage VDSS (V) |
650 |
||||
Drain current (DC) ID (A) |
38 |
30 |
24 |
18 |
15 |
|
Drain-source On-resistance RDS(ON) max (Ω) @VGS=10V |
0.065 |
0.09 |
0.11 |
0.155 |
0.19 |
|
Total gate charge Qg typ. (nC) |
62 |
47 |
40 |
29 |
25 |
|
Gate-drain charge Qgd typ. (nC) |
17 |
12 |
11 |
8 |
7.1 |
|
Input capacitance Ciss typ. (pF) |
3650 |
2780 |
2250 |
1635 |
1370 |
|
Channel-to-case thermal resistance Rth(ch-c) max (℃/W) |
0.462 |
0.543 |
0.657 |
0.833 |
0.961 |
|
Conventional series (DTMOSIV) Part number |
- |
- |
- |
TK20G60W[6] |
TK16G60W[6] |
|
Sample Check & Availability |
||||||
Note:
[6] VDSS=600V, D2PAK package
Follow the links below for more on the new product.
TK065U65Z
TK090U65Z
TK110U65Z
TK155U65Z
TK190U65Z
Follow the link below for more on MOSFETs.
MOSFETs
To check availability of the new product at online distributors, visit:
TK065U65Z
TK090U65Z
TK110U65Z
TK155U65Z
TK190U65Z
Customer Inquiries
Power Device Sales & Marketing Department
Tel: +81-3-3457-3933
https://toshiba.semicon-storage.com/ap-en/contact.html
*Company names, product names, and service names may be trademarks of their respective companies.
*Information in this document, including product prices and specifications, content of services and contact information, is current on the date of the announcement but is subject to change without prior notice.
About Toshiba Electronic Devices & Storage Corporation
Toshiba Electronic Devices & Storage Corporation combines the vigor of a new company with the wisdom of experience. Since becoming an independent company in July 2017, the company has taken its place among the leading general devices companies, and offers its customers and business partners outstanding solutions in discrete semiconductors, system LSIs and HDD.
Its 24,000 employees around the world share a determination to maximize the value of its products, and emphasize close collaboration with customers to promote co-creation of value and new markets. The company looks forward to building on annual sales now surpassing 750-billion yen (US$6.8 billion) and to contributing to a better future for people everywhere.
Find out more about Toshiba Electronic Devices & Storage Corporation at https://toshiba.semicon-storage.com/ap-en/top.html
Media Inquiries:
Chiaki Nagasawa
Digital Marketing Department
Toshiba Electronic Devices & Storage Corporation
Tel: +81-3-3457-4963
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SCHAUMBURG, Ill.--(BUSINESS WIRE)--Phoenix Exteriors, a premier roofing and solar energy company headquartered in Schaumburg, Illinois, today released its long-anticipated expansion plans into two major California markets, providing “best in class” roofing, solar energy systems and residential energy storage.
Phoenix Exteriors announced the March 1, 2021 opening of Phoenix Exteriors and Solar in Sacramento, California, to be followed by the April 1, 2021 opening in the Pleasanton, California area. Advertising campaigns are already underway promoting Grand Opening prices throughout Northern California. For a limited time during the Grand Opening, Phoenix Exteriors and Solar is offering high end Malarkey Roofs starting at $99 per month and tier one solar energy systems at $69 per month. Residential energy storage products will be offered some time in May 2021, along with Grand Opening promotional pricing.
Phoenix Exteriors has grown under the passionate leadership of Eric Stanis, Founder and CEO of Phoenix Exteriors. Stanis has been leading in the roofing and solar industry since 2007, building this highly rated home improvement company through the re-roof and siding of homes damaged by natural disasters throughout the Midwest and Texas. Phoenix Exteriors has been certified and approved to repair and replace storm damaged roofs and exteriors by all major insurance carriers and is a licensed insurance adjustor.
The new offices in California will also look to provide services to the home-building industry, offering new roofs, solar power systems and energy storage in early 2022. “We have been fortunate to recruit some of the best leadership in the country throughout our fourteen-year history. We have partnered with some of the best manufacturers of high-end roofing and solar energy product. California is ripe for a company like Phoenix to enter the market and offer the highest level of quality and service at very affordable price points. We are continuously evolving and innovating, intending to, and confident that we will, change the way roofing and solar is done on the West Coast!” says Stanis.
Phoenix will operate under Phoenix Exteriors and Solar LLC in California and is currently seeking qualified applicants for various positions at both locations. Phoenix Exteriors currently employs over one-hundred people nationwide and expects to double its employee base over the next eighteen months. “The jobs that we are offering will be in renewable energy and residential storage, which means they will be high paying jobs that will provide a fair and living wage to families throughout Northern California. Since these jobs are in renewables, each team member of the Phoenix family can feel good knowing that they are playing a role in mitigating climate change and improving the world for this generation and generations to come,” said Stanis.
Phoenix Exteriors operates offices in Chicago, Illinois, San Antonio and Austin, Texas and is a premier and certified installer of Malarkey roofing products, as well as over a dozen other manufacturers of roofing, siding, solar and residential home energy storage products. To learn more about the company, please visit Phoenix Exteriors at www.phoenixexteriors.com.
Tricia Petersen - UP Advisors Group
(415) 819-8278
– Switching From Coal to Natural Gas to Reduce CO2 Emissions by Approx. 76,300t Over 10 Years –
OSAKA, Japan--(BUSINESS WIRE)--Sojitz Corporation (President: Masayoshi Fujimoto; “Sojitz”) and Osaka Gas Co., Ltd.’s (President: Masataka Fujiwara; “Osaka Gas”) joint venture company*¹ Sojitz Osaka Gas Energy Company Ltd. (General Director: Yoshiro Aoyama; “SOGEC”) has concluded a supply agreement on March 4th, 2021 with Acecook Co., Ltd.’s (“ACJ”) subsidiary, Acecook Vietnam Joint Stock Company (“ACV”), to provide natural gas to ACV’s food plants.
SOGEC is concentrating its efforts on fuel switching from coal to natural gas, and this project marks the company’s first time supplying natural gas to an individual business.*² This natural gas supply business will be a subsidized project*³ under Japan’s Joint Crediting Mechanism (JCM)*⁴ scheme. Additionally, this project will be undertaken in cooperation with the governments of Vietnam and Japan.
In partnership with Osaka and Ho Chi Minh City, ACV and SOGEC participated in a feasibility study*⁵ for reducing CO2 in food plants prior to replacing the coal-fired steam boilers at two of ACV’s plants with highly-efficient gas-fired steam boilers that use natural gas with the objective of improving the plants’ work environment and reducing CO2 emissions.
This business expects to reduce CO2 emissions by approximately 76,300t over a 10-year period. Under the JCM scheme, over half of this reduced CO2 amount will be issued as JCM carbon credits and delivered to the Japanese government, which will help Japan to realize its reduction targets for CO2 emissions.
Sojitz, Daigas Group (an Osaka Gas group brand), and SOGEC will continue to respond to the diverse business needs of its customers through the sale of environmentally-friendly natural gas, contributing to Vietnam’s sustainable development and to the realization of a low-carbon society.
*1: Equity ownership of Sojitz Osaka Gas Energy Company Ltd.: Sojitz Group 51%, Osaka Gas Singapore Pte. Ltd. 49%. (Osaka Gas Singapore Pte. Ltd. is a fully-owned subsidiary of Osaka Gas Co., Ltd.)
*2: In April 2020, SOGEC began supplying natural gas to Phu My 3 Specialized Industrial Park in Bà Rịa-Vũng Tàu Province in Southern Vietnam.
*3: Financing Programme for JCM Model Projects in FY2020
JCM Model Projects utilize leading low-carbon and decarbonization technologies to lower GHG emissions in developing countries through measurable, reportable, and verifiable (MRV) actions. In addition to reducing GHG emissions in developing countries, JCM projects aim to help Japan and its partner countries achieve their GHG emission reduction targets. The Financing Progarmme for JCM Model Projects will fund up to half of the initial investment costs for advanced low-carbon and decarbonization technologies.
The Global Environment Centre Foundation (GEC) has been commissioned by the Ministry of the Environment of Japan (MOEJ) to function as a secretariat to manage JCM-related subsidy programs, which are open to private enterprises in Japan.
ACJ, ACV and SOGEC received financing from MOEJ under the Financing Programme for JCM Model Projects in FY2020 on September 28th, 2020.
*4: Joint Crediting Mechanism (JCM): In this bilateral mechanism, Japan provides developing countries with leading low-carbon technologies and products, systems, services, and infrastructures, which contribute to sustainable development in these countries by reducing greenhouse gas emissions. With JCM projects, both countries are able to benefit from reduced emissions. Japan’s efforts to reduce greenhouse gas emissions can be evaluated quantitatively through JCMs, which allow Japan to apply JCM credits to meet its emission reduction targets.
*5: As part of the City-to-city Collaboration Programme, this feasibility study was commissioned by the Ministry of the Environment of Japan (MOEJ) to support effective and efficient initiatives for building low-carbon and decarbonized society models, which are undertaken by Japanese municipalities with expertise on constructing these models and partner cities outside Japan. Osaka and Ho Chi Minh City jointly took part in this City-to-City Cooperation Project in which ACV and SOGEC also participated.
（Attachment）
1. Project Overview
Equipment to be Installed
Steam Supply Capacity |
7,000 kg/h per unit (converted evaporation amount) |
Installed Units |
13 units (2 plants) |
Supplied Fuel |
Natural gas and LPG-air |
Estimated Reduction of CO2 |
7,631t- CO2 /year |
Start Date |
July 2021 (planned) |
Location and Exterior (Façade) of Installation Sites
- ACV Hung Yen plant
Nhu Quynh Town, Van Lam District, Hung Yen Province
- ACV Binh Duong plant
Quarter 1B, An Phu Ward, Thuan An Town, Binh Duong Province
2. Participating Companies
[Company Overview – Sojitz Osaka Gas Energy Company Ltd.]
Established |
October 2019 |
Location |
Ba Ria - Vung Tau Province, Socialist Republic of Vietnam |
Representative Director |
Yoshiro Aoyama |
Ownership |
Sojitz Group - 51% (Sojitz Corporation - 26%, Sojitz Vietnam Co., Ltd. - 25%） Osaka Gas Singapore Pte. Ltd. - 49% |
Main Business |
Supply of natural gas to industrial users, energy services, and energy-related engineer and consulting services in Vietnam |
[Company Overview – Sojitz Corporation]
Established |
April 2003 |
Location |
1-1, Uchisaiwaicho 2-chome, Chiyoda-ku, Tokyo |
Representative Director |
Masayoshi Fujimoto |
Main Business |
General trading company (trading and business investment in Japan and overseas) |
[Company Overview – Osaka Gas Co., Ltd.]
Established |
April 1897 |
Location |
4-1-2 Hiranomachi, Chuo-ku, Osaka |
Representative Director |
Masataka Fujiwara |
Main Business |
Gas production, supply, and sales; power generation, supply, and sales |
3. Related News Releases
Sojitz Corporation: “Sojitz and Osaka Gas Establish Natural Gas Supply Company in Vietnam” (Jun. 24th, 2019)
https://www.sojitz.com/en/news/2019/06/20190624.php
Osaka Gas Co., Ltd.: “Establishing a Natural Gas Supply Company in Vietnam” (Jun. 24th, 2019)
https://www.osakagas.co.jp/en/whatsnew/__icsFiles/afieldfile/2019/06/24/190624_2_1.pdf
Press Inquiries:
Osaka Gas Co., Ltd.
International Business Strategy Team
Strategy & Planning Dept.
Energy Solution Business Unit
Tel: +81-(0)6-6205-3546
Sojitz Corporation
Public Relations Dept.
Tel: +81-(0)3-6871-3404
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--Itron, Inc. (NASDAQ: ITRI) (the “Company”), which is innovating the way utilities and cities manage energy and water, today announced the pricing of its underwritten public offering of 3,888,889 shares of common stock at a price to the public of $90.00 per share. The underwriters will also have a 30-day option to purchase up to an additional 583,333 shares. The offering is expected to close on or about March 12, 2021, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering, together with cash on hand, to repay outstanding term loan borrowings under its credit facility that was initially entered into on January 5, 2018, and to pay all fees and expenses related to the offering and such repayment.
The Company also announced by separate press release that it has priced its previously announced private offering to eligible purchasers of $400 million aggregate principal amount of 0% convertible senior notes due 2026. The initial purchasers of the convertible notes have a 13-day option to purchase up to an additional $60 million aggregate principal amount of convertible notes. The offering of convertible notes is expected to close on or about March 12, 2021, subject to customary closing conditions. The closing of the offering of shares is not contingent upon the closing of the offering of convertible notes (or vice versa).
J.P. Morgan Securities LLC is acting as lead book-running manager for the offering. Wells Fargo Securities is acting as book-running manager for the offering.
A shelf registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on March 8, 2021. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering, when available, may be obtained from (1) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at 1-866-803-9204 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it. and (2) Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, via telephone 1-800-326-5897, or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell or a solicitation of an offer to buy shares of common stock and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.
About Itron
Itron® enables utilities and cities to safely, securely and reliably deliver critical infrastructure services to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Cautionary Note Regarding Forward Looking Statements
This release contains, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical factors nor assurances of future performance. These statements are based on our expectations about, among others, revenues, operations, financial performance, earnings, liquidity, earnings per share, cash flows and restructuring activities including headcount reductions and other cost savings initiatives. This document reflects our current strategy, plans and expectations and is based on information currently available as of the date of this release. When we use words such as "expect," "intend," "anticipate," "believe," "plan," "goal," "seek," "project," "estimate," "future," "strategy," "objective," "may," "likely," "should," "will," "will continue," and similar expressions, including related to future periods, they are intended to identify forward-looking statements. Forward-looking statements rely on a number of assumptions and estimates. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Therefore, you should not rely on any of these forward-looking statements. Some of the factors that we believe could affect our results include our ability to execute on our restructuring plan, our ability to achieve estimated cost savings, the rate and timing of customer demand for our products, rescheduling of current customer orders, changes in estimated liabilities for product warranties, adverse impacts of litigation, changes in laws and regulations, our dependence on new product development and intellectual property, future acquisitions, changes in estimates for stock-based and bonus compensation, increasing volatility in foreign exchange rates, international business risks, uncertainties caused by adverse economic conditions, including, without limitation those resulting from extraordinary events or circumstances such as the COVID-19 pandemic and other factors that are more fully described in Part I, Item 1A: Risk Factors included in our latest Annual Report on Form 10-K filed with the SEC. Itron undertakes no obligation to update or revise any information in this press release.
The impact caused by the ongoing COVID-19 pandemic includes uncertainty as to the duration, spread, severity, and any resurgence of the COVID-19 pandemic including other factors contributing to infection rates, such as reinfection or mutation of the virus, the effectiveness or widespread availability and application of any vaccine, the duration and scope of related government orders and restrictions, impact on overall demand, impact on our customers’ businesses and workforce levels, disruptions of our business and operations, including the impact on our employees, limitations on, or closures of, our facilities, or the business and operations of our customers or suppliers. Our estimates and statements regarding the impact of COVID-19 are made in good faith to provide insight to our current and future operating and financial environment and any of these may materially change due to factors outside our control. For more information on risks associated with the COVID-19 pandemic, please see Itron’s updated risk in Part I, Item 1A: Risk Factors of our latest Form 10-K filed with the SEC.
Itron, Inc.
Kenneth P. Gianella
Vice President, Investor Relations
(669) 770-4643
HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“HESM”) today announced the pricing of an underwritten public offering of an aggregate of 6,000,000 Class A shares representing limited partner interests in HESM by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners (the “Selling Shareholders”), at a public offering price of $21.00 per Class A share. The Selling Shareholders have granted the underwriters a 30-day option to purchase up to 900,000 additional Class A shares at the public offering price less underwriting discounts and commissions.
The gross proceeds from the sale of Class A shares by the Selling Shareholders are expected to be approximately $126,000,000. HESM will not receive any proceeds from the sale of Class A shares in the offering. The offering is scheduled to close on March 15, 2021, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Citigroup are acting as joint bookrunning managers of the offering.
The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the “SEC”). When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the SEC’s website at www.sec.gov under HESM’s name or from the underwriters of the offering as follows:
Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Telephone: 866-471-2526
Facsimile: 212-902-9316
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 800-831-9146
The Class A shares are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Hess Midstream LP
HESM is a fee-based, growth-oriented midstream company that operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. HESM owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
Cautionary Statement Relevant to Forward-Looking Information
This press release may include forward-looking statements within the meaning of U.S. securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. You should keep in mind the risk factors and other cautionary statements in the filings made by HESM with the SEC, which are available to the public. HESM undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investors:
Jennifer Gordon
(212) 536-8244
Media:
Robert Young
(713) 496-6076
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--Itron, Inc. (NASDAQ: ITRI) (the “Company”), which is innovating the way utilities and cities manage energy and water, today announced the pricing of its private offering of $400 million aggregate principal amount of its 0% convertible senior notes due 2026 (the “Notes”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also granted the initial purchasers of the Notes an option to purchase, during a 13-day period beginning on, and including the first day the Notes are issued, an additional $60 million aggregate principal amount of Notes. The offering is expected to settle on March 12, 2021, subject to customary closing conditions.
The Company also announced by separate press release that it had priced the previously announced registered public offering of 3.9 million shares of common stock of the Company, at a public offering price of $90.00 per share. The Company also granted the underwriters of that offering a 30-day option to purchase up to an additional 0.6 million shares of common stock of the Company. The offering of shares is expected to close on March 12, 2021, subject to customary closing conditions. The closing of the offering of the Notes is not contingent upon the closing of the offering of common stock (or vice versa).
The Notes will not bear regular interest, and the principal amount of the Notes will not accrete. The Notes will mature on March 15, 2026, unless earlier converted, redeemed or repurchased. The conversion rate will initially be 7.9365 shares of common stock per $1,000 principal amount of Notes, subject to adjustment in certain circumstances. This represents an initial conversion price of $126.00 per share, representing a conversion premium of 40% over the public offering price in the Company’s concurrent common stock offering. The Notes will be convertible at the option of the holders prior to December 15, 2025 only during certain periods upon the occurrence of certain events and will be convertible thereafter at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay cash up to the aggregate principal amount of Notes to be converted and pay and/or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Notes being converted.
In addition, the Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, on or after March 20, 2024, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for a specified period of time. If the Company undergoes a “fundamental change” (as defined in the indenture governing the Notes), holders of the Notes may require the Company to repurchase for cash all or any portion of their Notes at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid special interest to, but excluding, the repurchase date. In addition, upon certain corporate events or upon redemption, the Company will, under certain circumstances, increase the conversion rate for holders who convert Notes in connection with such a corporate event or redemption.
In connection with the pricing of the Notes, the Company entered into privately negotiated convertible note hedge transactions with certain of the initial purchasers or their affiliates and other financial institutions (the “hedge counterparties”). The convertible note hedge transactions are expected generally to reduce the potential dilution to the Company’s common stock upon any conversion of the Notes and/or offset the cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, in the event that the market price of the common stock is greater than the strike price of the convertible note hedge transactions, which initially corresponds to the initial conversion price of the relevant Notes. The Company also entered into privately negotiated warrant transactions with the hedge counterparties. The warrant transactions could separately have a dilutive effect to the extent the market value per share of common stock exceeds the strike price of any warrant transactions, unless the Company elects, subject to certain conditions set forth in the related warrant confirmations, to settle the warrant transactions in cash. The strike price of the warrant transactions will initially be approximately $180.00 per share, which represents a premium of approximately 100% over the public offering price in the Company’s concurrent common stock offering, and is subject to certain adjustments under the terms of the warrant transactions. If the initial purchasers exercise their option to purchase additional Notes, the Company may enter into additional convertible note hedge transactions and additional warrant transactions with the hedge counterparties.
The Company expects that, in connection with establishing their initial hedge of the convertible note hedge transactions and warrant transactions, the hedge counterparties or their respective affiliates may enter into various derivative transactions with respect to the common stock concurrently with, or shortly after, the pricing of the Notes, and may unwind these various derivative transactions and purchase shares of common stock in open market transactions shortly after the pricing of the Convertible Notes. These activities could increase (or reduce the size of any decrease in) the market price of the common stock or the Notes at that time. In addition, the Company expects that the hedge counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding derivative transactions with respect to the common stock and/or by purchasing or selling shares of the common stock or other securities of the Company in secondary market transactions following the pricing of the Notes and prior to the maturity date of the Notes (and are likely to do so during any observation period relating to a conversion of the Notes or in connection with any repurchase of Notes). This activity could also cause or avoid an increase or a decrease in the market price of the common stock or the Notes, which could affect the ability of noteholders to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of the Notes, could affect the amount and value of the consideration that noteholders will receive upon conversion of the Notes.
The Company expects to use a portion of the net proceeds from the offering to pay the cost of the convertible note hedge transactions described above (after such cost is partially offset by the proceeds to the Company from the warrant transactions described above). The Company expects to use the remaining net proceeds from the offering, together with cash on hand, to optionally redeem its outstanding 5.00% senior notes due 2026 at a price equal to 102.5% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date. Such redemption will be made solely pursuant to a redemption notice delivered pursuant to the indenture governing the 5.00% senior notes due 2026, and nothing contained in this press release constitutes a notice of redemption of the 5.00% senior notes due 2026.
The convertible notes will be offered to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act. The convertible notes have not been, and will not be, registered under the Securities Act, or the securities laws of any state or other jurisdiction, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.
About Itron
Itron® enables utilities and cities to safely, securely and reliably deliver critical infrastructure services to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Cautionary Note Regarding Forward Looking Statements
This release contains, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical factors nor assurances of future performance. These statements are based on our expectations about, among others, revenues, operations, financial performance, earnings, liquidity, earnings per share, cash flows and restructuring activities including headcount reductions and other cost savings initiatives. This document reflects our current strategy, plans and expectations and is based on information currently available as of the date of this release. When we use words such as "expect", "intend", "anticipate", "believe", "plan", "goal", "seek", "project", "estimate", "future", "strategy", "objective", "may", "likely", "should", "will", "will continue", and similar expressions, including related to future periods, they are intended to identify forward-looking statements. Forward-looking statements rely on a number of assumptions and estimates. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Therefore, you should not rely on any of these forward-looking statements. Some of the factors that we believe could affect our results include our ability to execute on our restructuring plan, our ability to achieve estimated cost savings, the rate and timing of customer demand for our products, rescheduling of current customer orders, changes in estimated liabilities for product warranties, adverse impacts of litigation, changes in laws and regulations, our dependence on new product development and intellectual property, future acquisitions, changes in estimates for stock-based and bonus compensation, increasing volatility in foreign exchange rates, international business risks, uncertainties caused by adverse economic conditions, including, without limitation those resulting from extraordinary events or circumstances such as the COVID-19 pandemic and other factors that are more fully described in Part I, Item 1A: Risk Factors included in our latest Annual Report on Form 10-K filed with the SEC. Itron undertakes no obligation to update or revise any information in this press release.
The impact caused by the ongoing COVID-19 pandemic includes uncertainty as to the duration, spread, severity, and any resurgence of the COVID-19 pandemic including other factors contributing to infection rates, such as reinfection or mutation of the virus, the effectiveness or widespread availability and application of any vaccine, the duration and scope of related government orders and restrictions, impact on overall demand, impact on our customers’ businesses and workforce levels, disruptions of our business and operations, including the impact on our employees, limitations on, or closures of, our facilities, or the business and operations of our customers or suppliers. Our estimates and statements regarding the impact of COVID-19 are made in good faith to provide insight to our current and future operating and financial environment and any of these may materially change due to factors outside our control. For more information on risks associated with the COVID-19 pandemic, please see Itron’s updated risk in Part I, Item 1A: Risk Factors of our latest Form 10-K filed with the SEC.
Itron, Inc.
Kenneth P. Gianella
Vice President, Investor Relations
(669) 770-4643
Contribution to extension of FCVs’ cruising range
KIYOSU, Japan--(BUSINESS WIRE)--Toyoda Gosei Co., Ltd. (TOKYO: 7282) received the Technology & Development Award from Toyota Motor Corporation for the development of high pressure hydrogen tanks used on the new MIRAI, launched by Toyota in December 2020.
High pressure hydrogen tanks are a crucial component for fuel cell vehicles (FCVs), which efficiently hold hydrogen compressed at high pressure (about 700 atm). The new MIRAI is equipped with three hydrogen tanks, one more than the previous model, to extend its cruising range. This is an issue that is important for the widespread adoption of FCVs. Toyoda Gosei produces the third high pressure hydrogen tank*, which is located in the rear of the new MIRAI, while Toyota continues to produce the other two.
Toyoda Gosei developed the new tank together with Toyota Motor Corporation. For the new tanks, improvements have been made in the materials used in the carbon fiber reinforced plastic layer, one of the three layers of the tank wall (layer to withstand high pressure), production methods and other factors. As a result, the hydrogen storage efficiency of the tank, which is the ratio of the mass of stored hydrogen to the mass of the tank, was increased about 10 percent by minimizing the wall thickness to increase the inner volume while maintaining the pressure resistance strength.
Toyoda Gosei will continue to develop products leveraging its core technologies of rubber and plastic with the aim of supporting the spread of electrified vehicles such as electric vehicles (EVs) and FCVs.
* The production started from November 2020 at the Inabe Plant (Inabe, Mie prefecture, Japan) which was established as a dedicated plant for high pressure hydrogen tanks.
Toyoda Gosei Co., Ltd.
Contact: Takatomo Abe
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MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) today announced that EQT Corporation (“EQT”) and certain other parties have exercised their preferential rights to purchase certain properties that would have otherwise been included in Northern’s recently announced Marcellus Shale acquisition from Reliance Marcellus, LLC (“Reliance”). These properties, primarily consisting of assets subject to a Joint Development Agreement (“JDA”) with EQT, will therefore be excluded from Northern’s pending acquisition from Reliance that is expected to close in April 2021.
HIGHLIGHTS
“We expect this change to have minimal impact to the Company’s free cash flow profile,” commented Nick O’Grady, Chief Executive Officer. “The exercise of this right immediately reduces our indebtedness and boosts the returns on the acquisition. The JDA assets represent less than 15% of the projected five-year cash flows on the assets and only about 1% of the net inventory, despite reducing the purchase price by approximately 28%.”
ADJUSTED 2021 GUIDANCE – RELIANCE ASSETS – FULL YEAR
2021E Guidance Ranges: |
||
Production (MMCF per day) |
75 – 85 |
|
Net Wells Added to Production |
3.5 – 3.8 |
|
Total Capital Expenditures ($ in millions) |
$20 – $25 |
|
Production, Asset G&A and Marketing Expenses (per Mcf) |
$0.85 – $0.95 |
|
Average Differential to NYMEX Henry Hub (per Mcf) |
$0.55 – $0.65 |
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Northern’s financial position, business strategy, plans and objectives of management for future operations and industry conditions are forward-looking statements. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Northern’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: changes in crude oil and natural gas prices; the pace of drilling and completions activity on Northern’s properties and properties pending acquisition; Northern’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the acquisition of certain non-operated natural gas assets in the Appalachian Basin (the “Assets”) from Reliance; Northern’s ability to consummate the acquisition of the Assets and the anticipated timing of such consummation; the projected capital efficiency savings and other operating efficiencies and synergies resulting from Northern’s acquisition transactions; integration and benefits of property acquisitions, including the acquisition of the Assets, or the effects of such acquisitions on Northern’s cash position and levels of indebtedness; changes in Northern’s reserves estimates or the value thereof; disruptions to Northern’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which Northern conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; Northern’s ability to raise or access capital; changes in accounting principles, policies or guidelines; financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Northern’s operations, products and prices; and the COVID-19 pandemic and its related economic repercussions and effect on the oil and natural gas industry. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of Northern’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and Northern’s Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause Northern’s actual results to differ from those set forth in the forward looking statements.
Northern has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Northern’s control. Northern does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
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DUBLIN--(BUSINESS WIRE)--The "Algae Biofuels - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Algae Biofuels Market to Reach $11.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Algae Biofuels estimated at US$ 6.8 Billion in the year 2020, is projected to reach a revised size of US$ 11.4 Billion by 2027, growing at a CAGR of 7.5% over the period 2020-2027.
Transportation, one of the segments analyzed in the report, is projected to record 7.8% CAGR and reach US$ 8.1 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 Other Applications segment is readjusted to a revised 6.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 11.4% CAGR
The Algae Biofuels market in the U.S. is estimated at US$ 1.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$ 2.5 Billion by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 6.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 34 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/1xnpwk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Industry veteran Thomas Koerner will help company break into Asian photovoltaic market
FREIBURG, Germany--(BUSINESS WIRE)--#NexWafe--NexWafe GmbH today announced Thomas Koerner has joined the company’s board of directors. With nearly two decades of experience in the worldwide solar industry, Koerner brings invaluable expertise to NexWafe in the areas of global marketing and business development, specifically in the Asian marketplace.
NexWafe recently completed a €10 million round of funding intended to help move the company into pilot production and beyond. The pioneering company uses a proprietary green silicon manufacturing process that is fully compatible with conventional solar cell manufacturing to produce ultra-thin, high-efficiency, monocrystalline silicon wafers. With climate change a top priority among world leaders and carbon taxes on the horizon, NexWafe’s technology is designed to lower carbon dioxide emissions produced during the manufacture of silicon wafers while simultaneously reducing cost and increasing efficiency.
“Thomas brings additional depth and diversity to our leadership team at NexWafe,” commented Davor Sujita, CEO. “His experience in establishing business relationships in China and elsewhere in Asia will be invaluable to our efforts in those essential markets. We look forward to having him on the NexWafe team.”
An impassioned advocate for the solar industry, Koerner is currently Corporate Vice President of Global Sales at Canadian Solar, where he has been employed since 2012. Prior to joining Canadian Solar, which is one of the top six solar cell/module manufacturers in the world, Koerner held executive positions with Astronergy, Heliatek, and Schüco International KG.
“NexWafe’s business model is to produce next-generation silicon wafers with its own manufacturing technology and seek active partnerships with organizations that can adopt the company’s process,” said Koerner. “Through strategic partnerships in Asia and other key emerging markets, NexWafe will be well positioned to positively impact the cost-down roadmap of the photovoltaic industry and bring us to net-zero by 2030. I am pleased that I will be able to contribute to this important mission.”
Prior to his new position on NexWafe’s board of directors, Koerner served as a board member for SEIA, the Solar Energy Industries Association, and eNow, Inc., a provider of mobile solar applications for commercial and recreational vehicles. He earned a Master’s in Business Administration from Steinbeis University in Berlin, as well as a Master’s in Engineering from the University of Applied Science in Regensburg.
About NexWafe GmbH
NexWafe GmbH uses a proprietary process to produce ultra-thin, high-efficiency, monocrystalline green silicon wafers. Fully compatible with conventional solar cell manufacturing, NexWafe offers a 70% reduction in carbon dioxide emissions during manufacturing. In addition to being “green,” Nexwafe’s continuous, direct gas-to-wafer manufacturing process minimizes waste, resulting in wafers that are 30% less expensive than conventional wafers. NexWafe’s in-line, ultra-scalable process shatters cost down roadmap barriers and inherently supports the industry’s extraordinary growth as the transition to solar power accelerates worldwide. The company, which was spun out from Fraunhofer Institute for Solar Energy Systems ISE in 2015, has a 5MW pilot prototype facility located in Freiburg, Germany.
Jenna Beaucage or Alan Ryan
Rainier Communications
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ODENSE, Denmark--(BUSINESS WIRE)--Inrotech has received an order for an extensive set of welding robots for shipbuilding in the United States. The Inrotech-MicroTwin and Inrotech-Crawler were purchased by Halter Marine in Pascagoula, Miss., and will be used during construction of United States Coast Guard’s new Polar Security Cutter. The 460-foot vessel will support U.S. national interests in Arctic and Antarctic waters.
Inrotech’s standard welding robots fits into Halter Marine’s production needs to efficiently weld the Polar Security Cutter along with a variety of ocean-going vessels.
“We are honored to be part of this strategic cooperation with Halter Marine,” said Thomas Bøgner, Sales Director of Inrotech. “To enhance robotic welding solutions with Halter Marine is an important step for both parties, and we are absolutely committed to nothing else than successful operation.”
The robots will be integrated and implemented in Halter Marine’s production in order to reduce manhours, increase welding quality and improve productivity. Inrotech’s welding robots usually substitutes 4-5 welders per shift per robot.
“Among other things, we ensure an improved competitiveness for Halter Marine, just as we ensure a clearly improved working environment for several welding workers,” says Thomas Bøgner.
In addition to shipyards, Inrotech’s intelligent and mobile robotic welding systems is the obvious choice for in the offshore industry, green energy sector and manufacturers of heavy-duty steel structures.
Inrotech is a Danish company which is born out of the shipbuilding industry and today shipbuilding is still the main market. Instead of huge gantries with large and heavy semi-stationary robots, which were operating in dedicated production areas where the large components were transported in order to be welded, Inrotech chose the other way around: Making small, mobile robot solutions, which can be moved to or even into the existing production layout.
Without compromising welding efficiency, this solution offered several advantages to the traditional gantry-based solutions: lower cost, less transport of large structures and flexibility to move to different working areas.
Inrotech has delivered highly feasible welding robots of wind-towers, steel structures such as bridges and other applications worldwide but also for Hydro plants.
The company's success is based on a unique technology combination of mobile welding automation and a user-friendly software. With the growing demand for quality welding, requirements for improvement of working environment, lack of skilled welders, Inrotech see a huge potential market for robot welding solutions.
Press Coordinator for Inrotech:
Malene Grouleff, This email address is being protected from spambots. You need JavaScript enabled to view it., +45 28915809
ChargePilot ensures reliable operations and charging cost reductions for logistics organizations
BELMONT, Calif.--(BUSINESS WIRE)--Österreichische Post AG (Austrian Post), the postal service provider for Austria, has selected The Mobility House to support its rapidly-growing electric vehicle fleet with intelligent charging. As the Austrian Post works toward its goal of eliminating delivery emissions within the decade, they will deploy The Mobility House’s ChargePilot Charging and Energy Management solution across more than 2,400 AC and DC charging stations in over 130 depot locations.
"Austrian Post has already been using electric delivery vehicles in daily delivery operations since 2011. Since then, the battery-electric drive has proven to be optimal for us. Therefore, it is our goal to further expand this pioneering role and to be emission-free on the last mile by 2030 at the latest. This requires a technically up-to-date and scalable charging management system. We have found ChargePilot and are looking forward to the further expansion of our e-fleet," explains Head of Group Fleet at Österreichische Post AG Paul Janacek.
Austrian Post is a longtime logistics industry leader in fleet electrification: It currently owns the largest fleet of electric vehicles in Austria, which serves about 80 percent of all delivery districts throughout the country. The addition of the ChargePilot system enables Austrian Post to automatically take advantage of lower electricity pricing throughout the day and ensure cost-optimized charging across its fleet, without investing in costly infrastructure expansion. ChargePilot also quickly identifies potential failures across the charging network, allowing for preventive maintenance and strengthening operational reliability. Additionally, the solution can be used to prioritize the charging of certain vehicles to, for example, guarantee the range of individual vans as needed.
At some Austrian Post locations, ChargePilot will manage stations with as many as 70 charging stations. The Mobility House’s U.S. Managing Director Greg Hintler noted, "Especially with such large installations built on both AC and DC charging stations from different manufacturers, you need a system that is compatible with all these components. An open interface architecture is therefore the linchpin for meeting the various requirements and making flexible expansion possible."
This news comes as logistics and last-mile delivery giants in the United States, including Amazon, FedEx, UPS and the U.S. Postal Service, look to lower operating costs and enhance sustainability efforts by electrifying their fleets. The economic and environmental benefits offered by electric vehicle fleets are expected to increase steadily over the coming years as e-commerce sales rise across the country.
ChargePilot is now in daily use by several of the leading postal and logistics service providers across Europe and in the largest electric bus fleets in the United States, as well as by more than 300 companies in a wide range of industries around the world. The solution is designed to be compatible with all charging stations, enabling simple and quick adoption across any fleet.
To learn more about The Mobility House charging and energy management solutions, visit: mobilityhouse.com.
About The Mobility House
The Mobility House’s mission is to create an emissions-free energy and mobility future. Since 2009, the company has developed an expansive partner ecosystem to intelligently integrate electric vehicles into the power grid, including electric vehicle charger manufacturers, 750+ installation companies, 65+ energy suppliers, and automotive manufacturers ranging from Audi to Tesla. The Mobility House’s unique vendor-neutral and interoperable technology approach to smart charging and energy management has been successful at over 500 commercial installations around the world. The Mobility House has 155 employees across its operations in Munich, Zurich and Belmont, Calif. For more information visit mobilityhouse.com.
Christine Bennett for The Mobility House
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Highly innovative augmented intelligence SaaS platform strengthens customers’ ability to make global trade frictionless
MANCHESTER, England & HOLLAND, Mich.--(BUSINESS WIRE)--BluJay Solutions, a leading provider of global supply chain software and services, announces the launch of Augmented Global Trade (AGT) platform, a multi-tenant SaaS platform that enhances and automates the end-to-end customs and compliance requirements for international trade. For logistics service providers, carriers, and shippers managing complex customs declarations, as well as shippers that need to assert control over a network of brokers and freight forwarders, BluJay’s Augmented Global Trade platform streamlines workflow, decreases risk, and accelerates efficiency for international trade operations.
BluJay’s Augmented Global Trade platform leverages the company’s innovative “augmented intelligence” to supplement users, making experienced traders even more efficient while giving newer users the tools to be more effective, more quickly.
“Our new Augmented Global Trade platform is designed to augment the user’s input and intelligence, providing actionable customs and compliance workflow with dashboard visibility from a single user experience,” said David Landau, Chief Product Officer at BluJay Solutions. “BluJay’s AGT delivers an advantage for companies looking to digitize and consolidate the typically manual, disconnected processes and multiple systems associated with managing cross-border trade.”
Nicolas Ethevenin, Director Product Management, adds that AGT is scalable, offering flexibility for customers. “In addition to organizing workflows, BluJay’s AGT platform is engineered to connect external partners, systems, and processes. This enables our customers to adapt to changing requirements and scale, while reducing errors, delays, and fines that can prove costly to their bottom line.”
BluJay's AGT platform provides intuitive automation with purpose-built solutions and real-time connectivity to trading partners in a single platform. Among the applications hosted in the AGT platform are:
Command Center – a new actionable dashboard that provides visibility to international shipments’ customs and compliance status. The traders’ control tower, Command Center displays color-coded alerts that enable users to spot potential issues before they occur and take action directly from the alert. Trigger the creation of a declaration with a click, and shipment, leg, party master, and item master data is consolidated into a Unified Customs Schema (UCS) message that is transformed into a declaration within AGT or sent to a third-party for processing.
Global Trade Item Master – a new solution to extend and tailor data to support trade compliance, with out-of-the-box dataset support for global trade and customs declarations and the ability to save data elements at a country level, including classification codes and customer-specific data. Global Trade Item Master's purpose-built central repository enables users to store and communicate data easily in a consistent, consumable manner for relevant parties.
Smart Classification – a new tool to streamline the labor-intensive task of product classification with any combination of three automation strategies: HS Quick Classification, Classification by Rules, or Classification by Key Words. With Smart Classification, users avoid costly delays and fines associated with improper classification.
Customs Management-Global – BluJay’s multi-country electronic customs declaration solution with a self-updating compliance engine and coverage for more than 20 countries, with new procedures included in every major software release. Customs Management-ZABIS®, BluJay’s electronic, NCTS-certified customs solution in Germany, is also accessible from CM-Global and AGT-enabled.
Restricted Party Screening – an application to run compliance checks via transactional Spot Screening or automated Community Screening, which monitors changes in content and master data.
“We’re excited to see customers benefit from even greater efficiency using the full breadth of capabilities available in BluJay’s Augmented Global Trade,” says Ethevenin.
For more information, visit customs.blujaysolutions.com.
About BluJay Solutions
BluJay Solutions helps companies around the world achieve excellence in logistics and trade compliance - it’s in our DNA. Through a blend of Data, Networks, and Applications, delivered in the BluJay Way, our DNA platform powers the Frictionless Supply Chain for thousands of the world’s leading manufacturers, retailers, distributors, freight forwarders, customs brokers, carriers, and logistics service providers. To learn more, visit: www.blujaysolutions.com, or follow us on Twitter @myblujay and LinkedIn.
Martha de Labbey, +1 781-418-2400
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HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced that it resumed its share repurchase program at an annualized level of $1.5 billion, a 50% increase compared to the level of repurchases underway in the fourth quarter of 2020 when the program was suspended due to the Concho transaction. The company expects to execute the program ratably across all four quarters in 2021. Based on the company’s current outlook for 2021 commodity prices, this level of share repurchases, combined with the ordinary dividend, reflects its long-standing priority to return greater than 30% of cash from operations to shareholders annually.
“It’s still early in the new year, but commodity prices have strengthened such that our dividend alone may not be sufficient to meet our return of capital commitment,” said Ryan Lance, chairman and chief executive officer. “We will monitor the environment closely and retain the discretion to adjust our share repurchase program, as appropriate. While today’s action reflects a more constructive outlook on 2021, we do not intend to increase our previously announced operating capital program of $5.5 billion. We believe this market will favor companies who demonstrate sustainable discipline and strong free cash flow generation with a track record of predictable returns of capital. At a time of reckoning for the sector, ConocoPhillips’ proven value proposition remains the right one for this volatile business.”
In addition, the company confirmed that it expects to provide an update on certain guidance items by the end of March.
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About ConocoPhillips
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,700 employees at Dec. 31, 2020. Production excluding Libya averaged 1,118 MBOED for the 12 months ended Dec. 31, 2020, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as “anticipate," “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict," “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; changes in expected levels of oil and gas reserves or production; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks or unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete our announced or any future dispositions or acquisitions on time, if at all; the possibility that regulatory approvals for our announced or any future dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of the transactions or our remaining business; business disruptions during or following our announced or any future dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced or any future dispositions in the manner and timeframe we anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation, including litigation related to our transaction with Concho Resources Inc. (Concho); the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; the ability to successfully integrate the operations of Concho with our operations and achieve the anticipated benefits from the transaction; unanticipated difficulties or expenditures relating to the Concho transaction; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Use of Non-GAAP Financial Information –This news release contains certain non-GAAP terms that are not prepared in accordance with GAAP, including cash from operations (CFO) and free cash flow (FCF) which are defined on our website at https://www.conocophillips.com/nongaap.
John C. Roper (media)
281-293-1451
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Investor Relations
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The HVAC industry is moving toward more sustainable approaches in response to environmental impacts of traditional technologies
BOULDER, Colo.--(BUSINESS WIRE)--#ClimateChange--A new report from Guidehouse Insights analyzes the global HVAC market, providing market forecasts for revenue and shipments by segment and region, through 2030.
HVAC has helped to advance society, particularly in some of Earth’s hottest regions, however, its operation is a key cause of climate change. The environmental impact is driving industry and governments to seek sustainable cooling and heating solutions, such as heat pump water heaters, heat pumps, and variable speed compressors. Click to tweet: According to a new report from @WeAreGHInsights, the global HVAC market is anticipated to be $218.8 billion in 2021, growing at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2030. The 2030 market size is anticipated to reach $ 296.7 billion.
“The industry has been transforming toward sustainability, showing higher efficiency and environmental friendliness,” said Young Hoon Kim, research analyst with Guidehouse Insights. “Additionally, local governments are regulating system efficiency and high global warming potential (GWP) refrigerants and innovative market players are developing highly efficient advanced products.”
While policy has often guided market growth, several non-policy drivers are also helping to bolster the market. These include cooling demand in hot places, the heat island effect, technical advancements, user-friendly functions, district heating and cooling, new business models, and new construction demand.
The report, Commercial and Residential HVAC, examines the global HVAC market, taking into consideration sustainable heating and cooling, the impact of geographic differences on the market, decarbonization policies, and emerging market trends. The report addresses market issues, including notable business cases and emerging business opportunities associated with commercial and residential segments. Global market forecasts for revenue and shipments by segment and region extend through 2030. 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 8,000 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, Commercial and Residential HVAC, 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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WESTBOROUGH, Mass.--(BUSINESS WIRE)--Kopin® Corporation (NASDAQ: KOPN), a leading developer and provider of transmissive and reflective active matrix liquid crystal and organic light emitting diode (OLED) microdisplays used in military, enterprise, industrial, medical and consumer products, today announced that its CyberDisplay® WQVGA LVS display/backlight module and A230 Driver IC are incorporated into the Shearwater wearable NERD 2 diving computer, which enables public safety divers to perform life-saving search and rescues while having crucial dive information continuously available hands-free and without interruption.
Shearwater Research, based in Richmond, BC, Canada, is a leading underwater diving equipment company who has built a reputation for offering some of the highest quality instruments on the market.
Shearwater’s NERD 2 (Patent No.: US010921597B2) is the market leading near-to-eye display for underwater divers, providing constant availability of critical dive information such as depth, dive time, compass and breathable gas levels without the need for stopping to check gauges. This allows divers to remain focused on their critical work. Public safety divers can mount and secure the NERD 2 on their diving masks to be in their line of sight. Kopin’s microdisplay and backlight, in combination with the Shearwater optical lens, generate images on the NERD 2 that appear as if you were looking at a 25” television from a 12-foot distance. NERD 2 features include Bluetooth wireless capability, two-button interface, a rechargeable battery with an average life of 18 hours and the ability for the user to log dives.
“The innovative technology of the NERD 2 allows for flexibility, reliability, efficiency and a higher level of safety for divers everywhere,” said Jim Hartt, CEO, Shearwater. “Kopin’s LCD and ASIC are key elements of our NERD 2 design because they deliver visual information at a glance. This is especially critical for public safety divers who are often working rapidly to save lives, and who need both hands free in order to rescue their victims.”
"We are delighted that our products have been incorporated into the NERD 2 which helps public safety divers in their rescue missions,” said Greg Truman, Head of Kopin’s Industrial and Enterprise Display Business. “We have seen considerable expansion of the market for public safety wearables products over the past several years. Heads-up thermal imaging displays for firefighters, monocular optical modules for police officers, and now head mounted second screens for public safety divers are just a few of the vertical markets that fall under the larger umbrella category of public safety wearables. Our WQVGA microdisplay, which is used in the Shearwater NERD 2, is a popular display in this market because it offers users a bright, clean, easily readable image in a small form factor. To know that our WQVGA display has aided in successful rescue efforts, and played a role in saving peoples’ lives, is very rewarding.”
Kopin’s CyberDisplay WQVGA LVS is a color-filter active-matrix liquid crystal display (AMLCD) with a resolution of 428x240. The WQVGA LVS display utilizes high-performance single crystal silicon transistors and is the smallest (0.21″ diagonal) transmissive AMLCD for the resolution. The WQVGA LVS display, backlight and A230 driver ASIC together consume less than 100 mW at a display brightness of 1000 nits, sufficient for outdoor usage. A frame buffer memory residing in the ASIC offers further power savings.
About Kopin
Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, industrial and consumer products. Kopin's technology portfolio includes ultra-small Active Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin's website at www.kopin.com.
About Shearwater
Shearwater Research designs and manufactures scuba diving computers and advanced diving electronics. Shearwater holds a leading position among companies and a reputation for some of the highest quality instruments on the market. Shearwater dive computers feature intuitive menus and interfaces that make them easy to use for divers at all development levels. Shearwater computers are designed to improve the journey for divers everywhere. For more information, please visit Shearwater’s website at www.shearwater.com.
For more information about how NERD 2 is used by Public Safety divers please view this video: https://youtu.be/nYQSoME-HkQ.
Forward-Looking Statements
Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created by such sections. Words such as "expects," "believes," "can," "will," "estimates," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 26, 2020, or as updated from time to time in the Company's Securities and Exchange Commission filings.
Shearwater Research
Gabriel Pineda, 604-669-9958
Director of Sales and Marketing
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Kopin
Richard Sneider, 508-870-5959
Treasurer and Chief Financial Officer
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Market Street Partners
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