CHICAGO--(BUSINESS WIRE)--Southern Towing Company (“STC”), an affiliate of CC Industries (“CCI”), announced today it acquired Devall Towing (“Devall” or the “Company”) from the Devall family. Founded in 1952, Devall is a towboat and barge operator for specialty chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River.
The acquisition expands STC’s operations into specialty chemical products. The combination of Devall’s long-standing customer relationships with STC’s upriver capabilities allows Devall and STC to provide integrated marine transportation solutions across the Gulf Intracoastal and U.S. inland waterways. STC’s CEO Ed Grimm stated, “The acquisition significantly enhances Southern Towing’s Gulf Coast capabilities. We look forward to growing our transportation capabilities, while continuing to provide superior service to the customers we are privileged to serve.”
Devall is headquartered in Sulphur, Louisiana, and operates a fleet of 36 towboats and 125 liquid tank barges. The Company will continue to operate under the Devall brand as a new division of STC. The members of the management team will continue in their current roles.
“The Devall family and team are excited to partner with both Southern Towing and CCI. We believe that the cross-selling opportunities with Southern Towing are extremely compelling, and that CCI’s extensive experience and resources positions Devall for future growth,” added Kenny Devall, COO of Devall, who will continue to lead the Company.
Bill Crown, President and Chief Executive Officer of CCI, stated, “Devall shares the same core values and vision that we have at STC and CCI. We look forward to building on those shared values to further invest in and grow Devall and STC.”
About Devall Towing
Devall is a leading marine transportation provider of specialty chemicals on the Gulf Intracoastal Waterway and Lower Mississippi River. Devall operates a fleet of 36 towboats and 125 liquid tank barges and provides marine transportation services to customers primarily in the chemicals industry. Devall operates fleeting locations in Lake Charles, Louisiana (ICWW mile 242) and Victoria, Texas, with combined capacity for up to 175 barges. Devall Diesel Services provides marine diesel sales and service with dealerships in Louisiana and Texas. Devall was founded in 1952 by Alfred Devall and is headquartered in Sulphur, Louisiana.
About Southern Towing Company
Southern Towing Company, a portfolio company of CCI, is one of the nation’s largest transporters of liquid fertilizer and other products along the inland waterways of the United States. STC operates a fleet of 27 towboats and 72 barges and provides marine transportation services to customers in agriculture and industrial markets. Southern Towing was founded in 1958 and is headquartered in Memphis, Tennessee.
About CC Industries, Inc.
CC Industries is the Chicago-based holding company for the Crown family’s privately-held companies, including: GILLIG, Great Dane Trailers, J.L. Clark, Miracapo Pizza Company, Provisur Technologies, Riverside Rail, Selig, Southern Towing Company, and Trail King Industries. The Crown family has a long history of owning and growing industrial businesses. The Crown family’s original business dates itself to 1919 when Henry Crown and his brothers started Material Service Corporation.
Jason Green
This email address is being protected from spambots. You need JavaScript enabled to view it.
(312) 750-6717
Here are Home Heating Tips to Help Save Energy and Stay Safe During a COVID-19 Winter
SAN FRANCISCO--(BUSINESS WIRE)--A comfortable indoor space is more important than ever with most customers staying home due to the COVID-19 pandemic. Longer nights, colder days and more time at home could lead to using more natural gas and increased energy costs. Pacific Gas and Electric Company (PG&E) offers ways for customers to save energy, money and stay safe during the cold winter months.
“Customers are spending more time at home than ever before as a result of the ongoing nature of the pandemic. There are, however, simple steps customers can take to lower their energy costs without sacrificing safety or comfort,” said Aaron August, PG&E Vice President of Business Development & Customer Engagement.
PG&E offers the following tips to safely reduce the cost of keeping warm.
Ways to Save Energy this Winter
For more tips on saving energy this winter, visit www.pge.com/winter.
Fuel-burning appliances, such as gas furnaces, stoves, ovens and water heaters can increase the risk of carbon monoxide leaks, a toxic gas, when they are not working properly. Electric heating devices, such as space heaters, can also be a safety hazard when used improperly. Inappropriate use has been known to cause fires.
Ways to Stay Safe this Winter
If customers suspect there is a problem with a natural gas appliance inside their home, they should call PG&E at 1-800-743-5000. If you detect carbon monoxide in your home, you should get out immediately and call 911.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
SAN DIEGO--(BUSINESS WIRE)--Anthony Macaluso recently launched Hughes Tool Company, Inc., quietly working behind the scenes to develop a solution that eliminates the major challenges associated with Lithium-Ion battery limitations for electric vehicles (EV). Announced last week, Hughes Tool Company has created a patent protected solution that supplements existing battery fields, ultimately enabling an increase in range by 400 to 1000 percent (+)*. Please access the Hughes Tool Company January 26 announcement here.
Mr. Macaluso has done this twice before in the sports and mobile industries solving problems for some of the largest retailers globally. He has been granted more than 60 patents (see below for partial list) resulting in billions of transactions, billions in revenues and significantly increasing shareholder value. He has spent his entire life identifying technical and business problems, creating solutions, filing the intellectual property, being granted the patents both domestically and internationally, and then monetizing those patents through licensing opportunities.
“Approximately five years ago, I set out to tackle some of the biggest challenges facing widespread adoption of an electric vehicle. Namely the issues associated with range anxiety and recharging. I quickly discovered that all of the research and development was targeting the battery field and battery chemistry. I knew there was a better solution,” said Macaluso. “I have been told more times than I can count that ‘it’s impossible,’ which just further motivated me. I found a way to invent a solution that really bends the laws of physics and sits between the first and second laws.”
Macaluso went on, ”I have enjoyed tremendous success in creating products and services consumers use every day – for example, if you download data to a mobile phone or use mobile streaming services, text messaging solutions and abbreviated dialing codes, it directly relates to the multitude of patents I have been awarded in the mobile industry. This time was different for me. I wanted to leave not only a lasting legacy for my children and their children, but to create an EV solution that we would all benefit from.”
“The irony is that EVs are not yet as green as people think. Strip mining for precious metals that make up a lithium-ion battery is just terrible for the environment. There is no plan yet on how to recycle EV batteries after they have run their useful course of 5-8 years. The other major impact is that we are burning more and more fossil fuels to create electricity to power the grid and provide energy to the burgeoning EV market,” concluded Macaluso.
The patented Hughes Power Generation Platform is a fully independent, scalable attachment that creates energy, stores the newly created energy, and provides it back to the OEM battery field on demand or automated. Tests have shown an increase in range of 400 to over 1000 percent based on driver behavior and conditions.
This is a partial list of granted patents to Anthony Macaluso. Additionally, Mr. Macaluso has patents issued in the following countries including the United States, China, Canada, Japan, Korea, Spain, United Kingdom and Hong Kong. Furthermore, he has patents with the European Patent Office (EPO) as well as the World Intellectual Property Organization (WO).
About Hughes Tool Company
Hughes Tool Company, based in San Diego, CA, and founded by Anthony Macaluso, pays homage to Howard Hughes and his contributions to society through his groundbreaking inventions and perseverance. This legacy continues – the company is dedicated to solving climate and environmental related challenges with revolutionary technology innovation including bending the laws of physics.
For more information on Anthony Macaluso, Hughes Tool Company, and to request an NDA, please visit www.hughestoolcompany.com.
*Range improvement dependent upon driving conditions and driver behavior.
Media Inquiries:
Christine Bock
714 206 9800
This email address is being protected from spambots. You need JavaScript enabled to view it.
ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE:AGR) will be releasing its fourth quarter & full-year 2020 financial results on Tuesday, February 23, 2021, after the market closes.
In conjunction with the earnings release, AVANGRID will conduct a webcast conference call with financial analysts on Wednesday, February 24, 2021 beginning at 10:00 A.M. Eastern time. AVANGRID’s Executive team will present an overview of the financial results followed by a question and answer session with sell-side analysts only.
Interested parties, including analysts, investors and the media, may listen to a live audio-only webcast by accessing a link located in the Investors section of AVANGRID’s website at http://www.avangrid.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $35 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.
Analysts: Patricia Cosgel 203-499-2624
Media: Zsoka McDonald 203-499-3809
Company on track to close transaction in the second half of 2021
ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading clean energy company, confirmed today that it has received clearance from the Committee on Foreign Investment in the United States (CFIUS) after the conclusion of the initial review period in relation to the proposed merger combination with PNM Resources (NYSE: PNM). The clearance received today indicates that CFIUS has not identified any unresolved national security concerns regarding the transaction.
“With the CFIUS clearance and last week’s expiration of the waiting period under the HSR Act, AVANGRID is making good progress in its journey to complete the merger with PNM Resources,” said Dennis V. Arriola, CEO of AVANGRID. “We remain optimistic that all necessary approvals can be obtained to finalize the merger within the second half of 2021.”
The company continues to pursue state and Federal regulatory approvals for the merger, including approvals from the Federal Energy Regulatory Commission, the Federal Communications Commission, and the Nuclear Regulatory Commission, as well as the New Mexico Public Regulation Commission and the Public Utility Commission of Texas. The agreement between AVANGRID and PNM Resources is also subject to approval by PNM Resources’ shareholders.
AVANGRID announced the strategic merger combination with PNM Resources in October 2020 in an all cash offer for PNM Resources’ shares at $50.30 per share, an $8.3 billion enterprise value transaction. The resulting entity would be one of the major clean energy companies in the US with ten regulated utilities in six states and the third largest renewables company with operations in 24 states.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.
Media:
Athena Hernandez, 203-231-2146 or This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Patricia Cosgel, 203-499-2624 or This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--#GlobalMarineVesselEnergyEfficiencyMarket--The new marine vessel energy efficiency market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
Make confident decisions using our benchmarks and analysis of the marine vessel energy efficiency market.
Get FREE report sample within MINUTES
"One of the primary growth drivers for this market is the alternative fuel and fuel engine innovations,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the marine vessel energy efficiency market size to grow by USD 163.00 million during the period 2021-2025.
Marine Vessel Energy Efficiency Market Segment Highlights for 2020
Regional Analysis
Related Reports on Industrials Include:
Global Amphibious Aircraft Market- The amphibious aircraft market is segmented by application (military and civil), geography (North America, Europe, APAC, South America, and MEA), and key vendors. Click Here to Get an Exclusive Free Sample Report
Global Amphibious Landing Craft Market- The amphibious landing craft market is segmented by type (amphibious ACVs and APCs, air cushion vehicles, and LCU and LCM), geography (APAC, Europe, MEA, North America, and South America), and key vendors. Click Here to Get an Exclusive Free Sample Report
Notes:
Learn more about how we can help you achieve your mission-critical priorities. Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/
DUBLIN--(BUSINESS WIRE)--The "Global Petrochemicals Market: By Type (C1 Derivatives, C2 Derivatives, C3 Derivatives, C4 Derivatives, Aromatics, Others), By End Use (Packaging and Construction, Fuel and Fuel Additives, and Others), By Region, By Company Competition, Forecast & Opportunities, 2015-2025" report has been added to ResearchAndMarkets.com's offering.
The Global Petrochemicals Market has witnessed healthy growth between 2015-2019 and is estimated to grow at a CAGR of 4.80% during the forecast period.
Growing penetration of petrochemical products across plethora of end-use industries such as packaging, automotive, consumer durables, textile and construction sectors is expected to drive the petrochemicals market growth until 2025.
Petrochemicals are omnipresent, with their usage increasing across our countless, daily life applications. Increasing demand for Methanol (obtained from C1 stream) for industrial applications like manufacturing formaldehyde, API formulations, dyes & intermediates, agrochemicals etc., and its growing adoption as a clean-burning fuel in transports is likely to spur the global petrochemicals demand in the forecast period. Growing demand for petrochemical products used in plastic packaging for food and other commercial products such as Polyethylene (C2 stream) and Polystyrene (aromatics) due to their inexpensive, lightweight and high-performance characteristics is expected to propel the market growth in the coming years.
Excellent barrier properties which allow food to remain fresh for longer durations are expanding the scope of polyethylene plastics over other packaging materials, thereby increasing the petrochemicals consumption across the globe. Moreover, with major economies across the globe making hefty investments to support their passenger and commercial automotive manufacturing, the global demand for rubber tyres, mainly derived from the petrochemical Butadiene (an output from C4 stream) is anticipated to improve in the forecast period. An additional market driver is the growing consumption of petrochemicals-based laundry detergents and textile fibers with ever changing consumer preferences. Supported with growing manufacturing of Benzene-based derivatives, the demand outlook of the industry is likely to turn bullish in the upcoming years.
The outbreak of the COVID-19 dented the global petrochemicals industry, rendering the global industrial production to remain at standstill during Q2 and Q3 2020. The biggest impact was on demand of downstream derivatives such as clothing and automotive which crashed to historic lows in short term. Unprecedented crash in upstream crude oil as an outcome of the historic oil-price war further hurt the overall refinery run rates. However, soaring demand for personal hygiene products which increased consumer focus over C3 derivative polymers for manufacturing masks, PPE kits and disposable items, kept the sentiments uplifted. In longer terms, it is anticipated that spurt in the global petrochemicals demand as several economies ramp up their refining capacities and invest on latest manufacturing technologies would further accelerate the market growth in the forecast period.
Companies Mentioned
Objective of the Study:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Global Petrochemicals Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1. By Type (C1, C2, C3, C4, Aromatics, Others)
4.2.2. By End Use (Packaging & Construction, Pharmaceutical & Agrochemicals, Fuel & Fuel Additives, Automotive & Consumer Durables, Others)
4.2.3. By Company (2019)
4.2.4. By Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa)
4.3. Product Map
5. Asia-Pacific Petrochemicals Market Outlook
6. Europe Petrochemicals Market Outlook
7. North America Petrochemicals Market Outlook
8. South America Market Outlook
9. Middle East & Africa Petrochemicals Market Outlook
10. Market Dynamics
11. Market Trends & Developments
12. Competitive Landscape
13. Strategic Recommendations
14. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/a593ak
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
- FCC Certification Brings More Smart Devices for the Puloli NB-IoT Network -
SAN FRANCISCO--(BUSINESS WIRE)--#FCC--Puloli Inc., a leading provider of NB-IoT solutions for utilities, energy and Smart Cities, and Quectel, a leading global supplier of cellular modules, are proud to announce that the Quectel BG95 is now FCC certified for Upper 700 MHz A Block for NB-IoT. This certification adds additional cost-effective communications options to Critical Infrastructure Industries (CII). It ensures that endpoints and devices built on BG95 will fully comply with relevant FCC requirements and operate as intended when connected to the Puloli network.
Quectel BG95 is based on the Qualcomm® 9205 chipset. On the heels of last year’s announcement of the 9205 LTE modem support for the Puloli NB-IoT, Puloli has continued to expand the number of devices and endpoints supported on its network. “We welcome the Quectel modules to the Puloli list of supported hardware platforms. With the FCC certification of BG95 for Upper 700 MHz A Block, we significantly expand the availability of low-cost, low-power devices on our network,” said Kethees Ketheesan, CEO of Puloli. “Given the rich ecosystem of third-party vendors who are incorporating BG95 into multi-use sensors, endpoints and applications, we expect increased deployments based on the BG95 series in the near future.”
“We’re delighted that our BG95 module is now FCC-certified. With this certification, the Puloli NB-IoT Network-as-a-Service offers utilities connectivity for even more devices and sensors,” said Alexander Bufalino, VP Marketing, Quectel Wireless Solutions. “The BG95 has been selected by a wide variety of device-makers and developers and this has created a broad ecosystem of devices and applications that are making cities truly smart.”
The Quectel BG95 is a series of multi-mode Low-Power Wide-Area (LPWA) modules supporting LTE Cat M1/Cat NB2/EGPRS and integrated GNSS. With a cost-effective SMT form factor of 23.6 mm × 19.9 mm × 2.2 mm, the BG95 enables integrators and developers to easily design their applications and take advantage of the module's low power consumption and mechanical intensity. Its advanced Land Grid Array (LGA) package allows fully automated manufacturing for high-volume applications.
Select Spectrum and Access Spectrum are offering Upper 700 MHz A Block licenses for sale. Robert Finch, president of Select Spectrum said, “Many utilities and other critical infrastructure companies are looking to deploy IoT solutions that leverage cellular industry IoT standards and provide for rapid returns on investment. We see the NB-IoT capabilities of the Quectel BG95 accelerating adoption of a wide range of utility, smart city and shared services use cases for those companies that have acquired or are considering 700 MHz A Block spectrum.”
About Puloli
Puloli is an IoT Network-as-a-Service (NaaS) company providing private IoT network solutions based on LTE/5G IoT standards. Puloli’s customers in Critical Infrastructure Industries, Smart Cities, and other related verticals value the security, reliability, control, flexibility, and the lower cost of ownership that come with Puloli private IoT networks operating on licensed spectrum. Puloli supports a wide range of frequency bands with the ability to customize channelization schemes and band plans to take advantage of unique and non-traditional spectrum availability. Puloli’s end-to-end system integration makes it a leading one-stop full turn-key service provider for the private IoT industry. Founded in 2016, Puloli is based in San Francisco, California. For more information, visit puloli.com or email This email address is being protected from spambots. You need JavaScript enabled to view it..
About Quectel
Quectel’s passion for a smarter world drives us to accelerate IoT innovation. A highly customer-centric organization, we create superior cellular and GNSS modules backed by outstanding support and services. Our growing global team of 2200 professionals, the largest in the IoT modules industry worldwide, ensures we are first to market and continue to set the pace of development. Listed on the Shanghai Stock Exchange (603236.SS), our international leadership is devoted to advancing IoT across the globe. For more information: www.quectel.com, LinkedIn, Facebook and Twitter.
Bobbi Harris, +1-415-926-2000, This email address is being protected from spambots. You need JavaScript enabled to view it.
Ashley Liu, 86-551-6586 9386 x 8016, This email address is being protected from spambots. You need JavaScript enabled to view it.
Stockton Terminal and Eastern Railroad’s Environmental and Safety Project Wins California Transportation Commission Award
DENVER--(BUSINESS WIRE)--The Broe Group’s Transportation affiliate, OmniTRAX Inc., a comprehensive logistics solutions provider, reports the Stockton Terminal and Eastern Railroad (STE) was awarded a grant by the California Transportation Commission under the Short-Line Railroad Improvement Program (SLRIP) to replace and/or repair more than four miles of track in Stockton, Calif.
“The SLRIP grant will greatly enhance our operational efficiency and rail operations in Stockton and preserve and improve transload capacity to meet increased in demand. The project will also significantly reduce costs, emissions and truck travel in the region. We appreciate the partnership with the San Joaquin Council of Governments, which is helping us safely connect our communities and maintain a safe, efficient and environmentally friendly supply chain,” said Sergio Sabatini, President of OmniTRAX
Titled the “Stockton Intermodal Transload and Alternative Fuel” project, the grant was proposed by San Joaquin Council of Governments and will modernize infrastructure on the STE to handle the influx of alternative diesel fuels that comply with California low carbon fuel standards. The grant will fund a safety modernization resurfacing and rail tie replacement program that removes deteriorating 100-year-old rail, rehabilitates degraded switches for essential connection points and replaces six grade crossing surfaces in the track work limits. Work is expected to be completed during the 2021 calendar year.
“The Stockton Intermodal Transload and Alternative Fuel project will eliminate 1,302 tons of CO2 emissions and 2 tons of NOx emissions each year, while dramatically improving the Safety and performance of the STE operation. Without this project, there would be higher transportation costs for California consumers and more congested corridors on highways and regional arterials throughout San Joaquin County,” said Andrew T. Chesley, Executive Director/APCO of the San Joaquin Council of Governments. “Our partnership with OmniTRAX and the STE is a great example of what a public-private partnership is designed to accomplish.”
SLRIP provides funds to short-line railroad infrastructure projects intended to improve freight mobility, volume thresholds and support modern rail freight traffic and the communities and industries they serve throughout California. The $1.8 million grant to the STE covers half the project cost, with the remainder coming from OmniTRAX.
About OmniTRAX, Inc.
As one of North America’s largest and fastest growing private railroad and transportation management companies, OmniTRAX's core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at omnitrax.com.
About The Broe Group
Based in Denver, The Broe Group and its affiliates form a privately-owned, multi-billion-dollar real estate, transportation, energy and investment organization with assets owned and managed across North America. Together, Broe managed companies employ more than 1,000 people and support employment of thousands of others through operations such as its Great Western Industrial Park in Northern Colorado. Its transportation affiliate, OmniTRAX, Inc., is one of North America’s largest private railroad and transportation management companies specializing in: management services, railroad and port services, intermodal solutions and industrial switching operations. Its energy affiliates include Great Western Petroleum LLC, the largest private operator in the third most prolific U.S. basin. Broe Real Estate Group acquires, develops and manages office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group also has multiple investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, visit broe.com.
Media:
Julie Slagle, Manager – Communications
OmniTRAX
+1 303.398.4539
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--Basalt Infrastructure Partners LLC (“Basalt”) announced today that the third flagship Basalt fund (“Basalt III”) has entered into a definitive agreement to acquire Xpress Natural Gas (“XNG” or the “Company”).
XNG is a fully integrated Compressed Natural Gas (“CNG”) provider operating in the United States and Canada. The Company provides reliable, low-carbon energy solutions to utility, commercial and industrial end-users.
“We are excited about the opportunity to work with the XNG management team to continue the Company’s growth trajectory, while maintaining focus on reliable and safe operations,” stated David Greenblatt, Partner of Basalt, exclusive advisor to the Basalt funds. “XNG is well positioned to support end-users who benefit from the Company’s leading CNG network, while reducing carbon emissions.”
“We could not be more excited about joining the Basalt portfolio and gaining access to a world class team and resources. XNG’s significant growth in the C&I, Utility and Virtual Pipeline markets has only been constrained by its access to capital,” said John Nahill, CEO of XNG. “Basalt and Basalt III together bring the market knowledge, operational experience and financial backing necessary to meet our ever evolving and growing customer demand.”
Consummation of the transaction remains subject to customary closing conditions. The terms of the transaction are not being disclosed. This transaction will mark Basalt III’s third investment, after Habitat Solar and Full Fibre Limited.
National Bank Financial Inc. served as exclusive financial adviser to Basalt and Kirkland & Ellis served as its legal adviser. RBC Capital Markets served as exclusive financial adviser to Xpress Natural Gas and WilmerHale served as its legal adviser.
About Basalt
Basalt is the exclusive investment advisor to the Basalt funds, comprising Basalt I, Basalt II and Basalt III. The Basalt funds are infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and communications infrastructure in North America and Europe. Other investments by the Basalt funds in North America include the Upper Peninsula Power Company, Texas Microgrid, DB Energy Assets, Detroit Thermal, Hyperion Power, Helios Power, Black Bear Transmission, and Habitat Solar.
For more information, please visit www.basaltinfra.com.
About Xpress Natural Gas
Founded in 2011, XNG provides an alternative energy source for businesses without access to a gas pipeline. By transporting compressed natural gas in both the U.S. and Canada, XNG provides a consistent and reliable, low-carbon energy source for its broad customer base. The company’s business model enables CNG to be delivered to over 40 customer sites around the clock, 365 days a year. As a leading provider of CNG, the company is positioned for exponential growth in customer installments throughout 2021 and beyond.
For more information, please visit www.xng.com.
For media inquiries:
Xpress Natural Gas LLC
Seth Berry
General Counsel
(508) 846-8200
This email address is being protected from spambots. You need JavaScript enabled to view it.
Andover, MA
Basalt Infrastructure Partners LLC
David Greenblatt
Partner
(646) 661-3900
This email address is being protected from spambots. You need JavaScript enabled to view it.
New York, NY
COLUMBUS, Ind.--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI) announced today that Chief Administrative Officer (CAO) Marya Rose will be retiring, effective April 2021, after more than 20 years in leadership positions with the company. Vice President and General Counsel, Sharon Barner, will succeed Rose.
“Marya has had an incredible career, and during her more than two decades at Cummins, we have benefitted greatly from her leadership and unwavering commitment to our values,” said Tom Linebarger, Chairman and CEO, Cummins Inc. “She is a great problem-solver and has an incredible command of a wide range of topics. Just as importantly, Marya always works and conducts herself with decisiveness, honesty and courage. Cummins and our communities are better because of Marya’s passion and purpose.”
“Marya translated her fierce commitment to Cummins’ values into advocacy, emphasizing the societal and business importance of diversity and inclusion and worked tirelessly for these values within the company and in our communities,” Linebarger added. “Her focus was critical as Cummins continued to become a more global and diverse company. She has made an immeasurable difference to Cummins and to our employees, including myself. I wish Marya all the best and know she will continue to make a positive impact in whatever causes she invests her boundless energy.”
Rose joined Cummins in 1997 and quickly made her mark. In 2001, she was named General Counsel. In this role, Rose transformed the legal function from a group focused primarily on North America to a true global team and strategic partner to the business.
Rose was named CAO in 2011. She immediately began to drive effectiveness and efficiencies across several disparate company functions to better support and partner with the business segments. During her tenure, Rose vastly improved the company’s communications platforms and capabilities; transformed Cummins’ physical environment and introduced new ways of working. Rose also helped make Cummins’ Corporate Responsibility work more impactful and she streamlined many corporate business processes.
Prior to joining Cummins, Rose served two Indiana Governors, and practiced law in Indianapolis. She earned a BA in Political Economy from Williams College and a JD from Indiana University – Indianapolis (now the McKinney School of Law). Rose has served in leadership positions on several public company and not-for-profit boards, including Duke Energy, Planned Parenthood of Indiana and Kentucky; Newfields; Hoosier Women Forward and 16 Tech.
Rose resides in Indianapolis with her husband, Tony.
Vice President and General Counsel Sharon Barner will succeed Marya as Chief Administrative Officer. In the CAO role, Barner will lead several of Cummins’ largest global groups, including communications, marketing, government relations, compliance, facilities, security, Cummins’ global shared services organization and legal. These functions comprise more than 2000 employees.
“I am thrilled to have Sharon assuming the CAO role,” said Linebarger. “Sharon’s execution orientation and steady hand and sage advice, combined with more than 30 years of legal experience in the private and public sector, make her well positioned for CAO. I know that Sharon will continue to combine her exceptional professional skills with her dynamic leadership to guide the CAO and other corporate functions on our journey to best support our internal and external customers. I am excited to see her lead in this capacity.”
Barner joined Cummins in 2012 as General Counsel and immediately made transformative changes to address external factors like increased globalization, technological disruption, and amplified government oversight on the legal function. Over the past nine years, Barner has built a talented and diverse team across 11 countries that has skillfully executed multiple acquisitions, navigated complex regulatory matters, implemented a consolidated contract life cycle management platform and continued to protect Cummins’ interests.
Barner is also a champion of Cummins’ values, particularly diversity and inclusion, and caring. Barner shares her voice on racial justice and gender equality issues and executes critical actions to drive forward such initiatives. Barner implemented a process to consolidate Cummins’ legal work from more than 200 law firm providers to 24, with diversity of their staff as a key determining factor, diversifying the lawyers that perform Cummins’ work, improving service delivery and yielding year-on-year end legal savings.
Prior to joining Cummins, Barner served as Deputy Under Secretary of Commerce for Intellectual Property and Deputy Director of the United States Patent and Trademark Office (USPTO) where she was responsible for leading agency operations and managing a budget of more than $2 billion and 10,000 employees. Before that, Barner also excelled in private legal practice, led an intellectual department and was a member of the executive committee of a major Chicago law firm.
Barner has served in leadership positions on several public company and not-for-profit boards, including Howmet Aerospace Inc., Brebeuf Jesuit Prep School, Indiana Repertory Theatre, Association of Corporate Counsel, Eskenazi Health Foundation, Foundation for Advancement of Diversity in IP Law (FADIPL) and the Leadership Council on Legal Diversity. Barner and her husband reside in the Indianapolis area.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 61,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.3 billion on sales of $23.6 billion in 2019. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/always-on.
Jon Mills
Cummins Inc.
Phone: 317-658-4540
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) plans to report its Full Year and Fourth Quarter 2020 financial results on Thursday, February 25, 2021. Management will present the results during a conference call and webcast at 9:00 a.m. Eastern.
A live webcast of the conference call, including presentation materials, can be accessed through NRG’s website at http://www.nrg.com and clicking on “Presentations & Webcasts” in the “Investors” section found at the top of the home page. The webcast will be archived on the site for those unable to listen in real time.
About NRG Energy
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
Investors:
Kevin L. Cole, CFA
609.524.4526
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Candice Adams
609.524.5428
This email address is being protected from spambots. You need JavaScript enabled to view it.
CHEYENNE WELLS, Colo.--(BUSINESS WIRE)--#midstream--Tumbleweed Midstream, LLC (“Tumbleweed”) announced today it has executed a new 10-year helium sales agreement with a global tier one helium supplier. The new contract delivers a top-rated global customer for Tumbleweed’s Ladder Creek plant’s helium production capacity and provides the customer a steady supply of helium through December 31, 2030.
Specific terms of the agreement are undisclosed, however Tumbleweed estimates the value of the overall contract could exceed $500 million. Final contract value will depend on the volume of helium produced by the Ladder Creek plant and delivered between now and year-end 2030.
“We are extremely pleased to be able to announce a new long-term contract with one of the world’s top tier suppliers of helium to global markets,” said Tumbleweed Midstream Founder and CEO Durell Johnson. “With much speculation in the helium market related to new supplies coming on from Russia and Qatar in 2021 and 2022, this new contract provides the stability we need to ensure our producers that their helium will be sold at fixed prices.”
A unique aspect of the agreement gives Tumbleweed the option to sell up to 10% of its helium production to third-party buyers who need to make non-scheduled purchases of helium on the open market. “This is significant because every molecule of available helium anywhere in the world is under contract,” said Johnson. “We have reserved a portion of our annual production specifically to help suppliers who encounter a supply hiccup and suddenly need to buy helium to satisfy customer contracts. Because there is no established marketplace where you can buy helium, we want helium buyers to know they can fill a temporary supply interruption with a single phone call to Tumbleweed Midstream.”
After it acquired the Ladder Creek Helium Plant and Gathering System in December 2019, Tumbleweed revamped its natural gas producer agreements and added new gathering and processing customers. These actions increased natural gas input to the plant in 2020, underpinning a fourfold increase in helium production. Tumbleweed expects its Ladder Creek Helium Plant will ship more than 100 trailer loads of processed liquefied helium in 2021. A trailer of liquefied helium holds approximately 1 million cubic feet of the inert gas.
The Ladder Creek Helium Plant and Gathering System serves natural gas producers operating in eastern Colorado and western Kansas. Natural gas produced in the region has a high helium content, which allows Tumbleweed to return premium netbacks to producers. The presence of significant amounts of helium and low drilling costs for the region’s shallow conventional gas wells are attracting new natural gas drilling to the region. “Continued growth will come from natural gas producers right here in our backyard,” Johnson said. “We recently executed a new 15,000-acre dedication with a producer in Kansas and expect to see new drilling activity that will bring additional production to the plant by the end of Q1.”
Current processing capacity at the Ladder Creek cryogenic processing plant is 38 million cubic feet per day (MMcf/d), expandable to 57 MMcf/d. The company plans to initiate a plant expansion later this year.
Ladder Creek Helium Plant and Gathering System
The Ladder Creek Helium Plant uses state-of-the-art cryogenic processes to extract helium and natural gas liquids from raw natural gas. The helium is further purified to 99.999%, and its temperature is reduced to negative 458 degrees Fahrenheit for transport to customers as a liquid. The Ladder Creek system is supported by long-term acreage dedications across a 1,000-square-mile area that spans Cheyenne, Kit Carson and Kiowa counties in Colorado and Hamilton, Greeley, Wichita, Kearney, Wallace and Finney counties in Kansas. See system map here.
Uses of Helium
Helium is used in the medical industry for MRI machines and for ventilators, which often use a mixture of oxygen and helium called “heliox” to treat patients with severe asthma and other respiratory illnesses. Helium is also used in cryogenics, welding, deep sea diving, manufacturing of fiber optic cables and semiconductors, and retail sales of helium-filled balloons.
About Tumbleweed Midstream
Tumbleweed Midstream, LLC is a privately held, independent natural gas gathering and processing company whose primary business is focused on the separation and production of liquefied helium, NGLs and residue gas from the incoming gas stream as well as the purification and liquefaction of crude helium from third parties. The company’s operations are centered at the Ladder Creek Helium Plant and Gathering System located near Cheyenne Wells, Colorado, just west of the Kansas-Colorado border. Tumbleweed Midstream is supported by capital commitments from the company’s management team and founders. For more information, please visit tumbleweedmidstream.com.
Bevo Beaven
TEN|10 Group, LLC
303.433.4397, x114 o
720.666.5064 m
This email address is being protected from spambots. You need JavaScript enabled to view it.
TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) plans to announce its fourth-quarter and full-year 2020 financial results after the market closes on Monday, Feb. 22, 2021.
The company’s fourth-quarter and full-year 2020 earnings conference call and webcast with analysts and investors is scheduled for Tuesday, Feb. 23, 2021, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).
Participants who wish to join the call by phone must register using the following link: http://www.directeventreg.com/registration/event/5346299
A webcast link to the conference call will be provided on Williams’ website. A replay of the webcast will be available on the website for at least 90 days following the event.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. www.williams.com
Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual and quarterly reports filed with the Securities and Exchange Commission.
MEDIA:
This email address is being protected from spambots. You need JavaScript enabled to view it.
(800) 945-8723
INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
Engine No. 1 Believes ExxonMobil’s Actions Further Confirm the Need for Meaningful Board Change; Objects to Underperforming Board’s Plan to Pick Its Own New Members
SAN FRANCISCO--(BUSINESS WIRE)--Engine No. 1, a new investment firm that seeks to enhance long-term value through active ownership and which has nominated four highly qualified, independent director candidates to the Exxon Mobil Corporation (NYSE: XOM) (“ExxonMobil” or the “Company”) Board of Directors (the “Board”) in connection with the 2021 Annual Meeting of Shareholders, issued the following statement regarding ExxonMobil’s announcements today.
“A Board that has underperformed this dramatically and defied shareholder sentiment for this long has not earned the right to choose its own new members or pack itself in the face of calls for change. ExxonMobil shareholders deserve a Board that works proactively to create long-term value, not defensively in the face of deteriorating returns and the threat of losing their seats.
“Further, today’s patchwork of announcements do not materially alter ExxonMobil’s long-term trajectory nor do they position it to succeed in a changing world. For years ExxonMobil has pursued spending and strategic plans that position it to succeed only in the absence of a material long-term energy demand shift, and it remains positioned for continued value destruction for decades to come under alternate scenarios. It is equally poor long-term planning to rely almost exclusively on the idea that carbon capture will become scalable and affordable soon enough to allow for continued oil and gas production growth for decades to come under a Paris-compliant trajectory.
“We have nominated four independent individuals who each bring a strong track record of transformative success in energy as well as their own unique set of skills and experiences that are directly relevant to the present and future of ExxonMobil. We believe these nominees can bring real change – versus the appearance of change – and position ExxonMobil to successfully evolve along with the rapidly-changing energy industry. We look forward to continuing to make the case for reenergizing ExxonMobil.”
Additional information regarding Engine No. 1’s campaign to Reenergize Exxon may be found at www.ReenergizeXOM.com.
About Engine No. 1
Engine No. 1 is an investment firm purpose-built to create long-term value by driving positive impact through active ownership. The firm also will invest in public and private companies through multiple strategies. For more information, please visit: www.Engine1.com.
Important Information
Engine No. 1 LLC, Engine No. 1 LP, Engine No. 1 NY LLC, Christopher James, Charles Penner (collectively, “Engine No. 1”), Gregory J. Goff, Kaisa Hietala, Alexander Karsner, and Anders Runevad (collectively and together with Engine No. 1, the “Participants”) intend to file with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement and accompanying form of WHITE proxy to be used in connection with the solicitation of proxies from the shareholders of Exxon Mobil Corporation (the “Company”). All shareholders of the Company are advised to read the definitive proxy statement and other documents related to the solicitation of proxies by the Participants when they become available, as they will contain important information, including additional information related to the Participants. The definitive proxy statement and an accompanying WHITE proxy card will be furnished to some or all of the Company’s shareholders and will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov/.
Information about the Participants and a description of their direct or indirect interests by security holdings is contained in a Schedule 14A filed by the Participants with the SEC on December 11, 2020. This document is available free of charge from the source indicated above.
Disclaimer
This material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in this press release and the material contained herein that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different. Certain information included in this material is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this material in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. All figures are unaudited estimates and subject to revision without notice. Engine No. 1 disclaims any obligation to update the information herein and reserves the right to change any of its opinions expressed herein at any time as it deems appropriate. Past performance is not indicative of future results. Engine No. 1 has neither sought nor obtained the consent from any third party to use any statements or information contained herein that have been obtained or derived from statements made or published by such third parties. Except as otherwise expressly stated herein, any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein.
Media Contacts
Gasthalter & Co.
Jonathan Gasthalter/Amanda Klein
212-257-4170
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Contacts:
Innisfree M&A Incorporated
Scott Winter/Gabrielle Wolf
212-750-5833
Australian transport fuels company immediately liberates support cost savings and defers migration to S/4HANA
LAS VEGAS--(BUSINESS WIRE)--$RMNI #RMNI--Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Ampol Limited, Australia’s leading transport fuels provider, has switched to Rimini Street Support for its SAP ECC 6.0 and Business Objects applications, as well as its SAP HANA Database software. As a result, the company reduced its annual support fees and is saving additional costs by deferring an expensive and disruptive migration to SAP S/4HANA.
Resetting the Agenda with Rimini Street Third-Party Support
Ampol Limited manages Australia’s largest petrol and convenience network, as well as refining, importing and marketing fuels and lubricants. With a history spanning over 120 years, it has grown to be the largest transport fuels company listed on the Australian Securities Exchange. The company’s robust supply chain is underpinned by its market-leading infrastructure which includes 19 terminals, five major pipelines, 89 depots, approximately 800 owned and operated retail sites and 1,900 branded sites.
For the past 20 years, Ampol has relied on its robust SAP platform which is a key enabler of its business and operations. Ampol has decided to partner with Rimini Street to maintain its current SAP platforms, while also supporting their complex operations across their supply chain.
“We needed to look at ways to be more efficient and effective with our costs and technology in the current economic environment,” said Alisa Cooper, IT director, Ampol. “The transition to Rimini Street has enabled us to reallocate investment in accelerating business value and innovate around the edges of our SAP platform.”
Ampol benefits from Rimini Street’s premium-level enterprise software support model, including its industry-leading Service Level Agreement (SLA) of 10-minute response times for all critical Priority 1 cases. Rimini Street’s clients are also assigned a Primary Support Engineer (PSE), backed by a team of functional and technical experts, who have an average of more than 15 years’ experience in the client’s software system.
“In light of COVID-19, organizations such as Ampol are looking at ways to be more efficient with capital spend and cost,” said Emmanuelle Hose, regional general manager, Australia and New Zealand, Rimini Street. “Across Australia, projects or investments must deliver an immediate ROI; these include large migration projects, expensive maintenance and support contracts and large-scale digital transformation initiatives. By switching to Rimini Street Support, organizations are enabled to invest their significant support savings into strategic business initiatives that will help them grow and gain competitive advantage.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 3,700 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.
Forward-Looking Statements
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 5, 2020, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
© 2021 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
This email address is being protected from spambots. You need JavaScript enabled to view it.
FERGUS FALLS, Minn.--(BUSINESS WIRE)--Otter Tail Corporation (NASDAQ: OTTR) announced today the Board of Directors increased the company’s quarterly common stock dividend to $0.39 per share. The increase brings the annual indicated dividend rate to $1.56 per share, an $.08 increase over the 2020 rate. The dividend is payable on March 10, 2021 to shareholders of record on February 12, 2021.
This 5.4 percent increase demonstrates our strong commitment to our shareholders and shows the confidence the board of directors has in our ability to deliver sustainable earnings and cash flows. We expect future dividend increases to be in line with earnings growth while maintaining a targeted payout ratio in the range of 60 to 70 percent.
This represents the 82nd year (329th consecutive quarter) dividends have been paid on common stock.
The corporation will issue a news release announcing year end 2020 financial results on Monday, February 15, 2021 and has scheduled an earnings call for Tuesday, February 16, 2021 at 10:00 CT.
About Otter Tail Corporation: Otter Tail Corporation has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are located in Fergus Falls, Minnesota, and Fargo, North Dakota.
Loren Hanson
218-739-8481
This email address is being protected from spambots. You need JavaScript enabled to view it.
OKLAHOMA CITY--(BUSINESS WIRE)--Enable Midstream Partners, LP (NYSE: ENBL) today announced that its 2020 tax package, which includes the Schedule K-1 (Form 1065) for common unitholders, will be available online by the end of the day March 5, 2021. The 2020 tax package may be accessed at https://taxpackagesupport.com/Enable. Enable expects printing and mailing of the 2020 tax packages to be completed by March 11.
For additional information or assistance, unitholders may call the toll-free Enable Midstream Tax Support Line at (833) 608-3516, weekdays between 8 a.m. and 5 p.m. Central.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 14,000 miles of natural gas, crude oil, condensate and produced water gathering pipelines, approximately 2.6 Bcf/d of natural gas processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50%), approximately 2,200 miles of intrastate pipelines and seven natural gas storage facilities comprising 84.5 billion cubic feet of storage capacity. For more information, visit https://enablemidstream.com.
Media:
Leigh Ann Williams
(405) 553-6947
Investor:
Matt Beasley
(405) 558-4600
Minneapolis-based utility earned a perfect score for fifth consecutive year
MINNEAPOLIS--(BUSINESS WIRE)--For the fifth year in a row Xcel Energy has been honored as a best place to work for lesbian, gay, bisexual, transgender and queer (LGBTQ) equality. The Minneapolis-based company again earned a perfect score on the Human Rights Campaign’s 2021 Corporate Equality Index (CEI).
“I am proud to see Xcel Energy honored again among leading companies that are striving not just to perform well for our customers, but to do so in a way that empowers all employees and recognizes their contributions,” said Ben Fowke, chairman and CEO of Xcel Energy.
“We know that to meet our goal of building the energy future, we need an inclusive and diverse workforce, attracting and retaining a committed, innovative team. And this distinction marks one way we’re working to do that,” said Darla Figoli, executive vice president, Human Resources and Employee Services, and chief human resources officer.
Xcel Energy has been included in the Corporate Equality Index for 18 years and joins a record-breaking 767 businesses to earn a perfect score in 2021. This number of “Best Place to Work for LGBTQ Equality” designees is up nearly 12 percent from 686 last year. The first index, released in 2002, had 13 top-rated companies.
Xcel Energy achieved a 100% equality rating on CEI’s index based on several factors, including non-discrimination policies across all business areas, offering equitable benefits to LGBTQ employees and their families, and maintaining an inclusive culture that supports corporate social responsibility.
Maintaining a culture of diversity and inclusion has long been one of Xcel Energy’s core corporate values. Since 1995, Xcel Energy has offered benefits to employees’ domestic partners and children. The company continually develops new initiatives and implements training to promote a diverse and inclusive culture throughout the organization.
For more information about the Corporate Equality Index, visit the Human Rights Campaign.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Xcel Energy Media Relations
(612) 215-5300
www.xcelenergy.com
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that it will issue its fourth quarter and full year 2020 earnings release after market close on Wednesday, February 24, 2021. The Company will host a conference call to discuss financial and operational results on Thursday, February 25, 2021 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
The call will be webcast on Cactus’ website at www.CactusWHD.com. Institutional investors and analysts may participate by dialing (833) 665-0603. International parties may dial (929) 517-0394. The access code is 3572986. Please access the webcast or dial in for the call at least 10 minutes ahead of start time to ensure a proper connection.
An archived webcast of the conference call will be available on the Company’s website shortly after the end of the call.
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, Marcellus, Utica, Haynesville, Eagle Ford, Bakken and SCOOP/STACK, among other areas, and in Eastern Australia.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.