SAN ANTONIO--(BUSINESS WIRE)--#midstream--EnCap Flatrock Midstream (“EnCap Flatrock”) is pleased to announce the promotions of Matthew R. Melton and Kyle Stelma to vice president.
“Since they joined EnCap Flatrock in 2017, Matt and Kyle have each demonstrated a strong work ethic and a deep understanding of our business model and goals,” said EnCap Flatrock Midstream Managing Partner and Founder Bill Waldrip. “They are very capable leaders with strong financial skill sets and a proven commitment to helping our portfolio companies succeed. We are excited to watch them continue to grow as they take on increased responsibilities.”
Prior to joining EnCap Flatrock Midstream in 2017, Mr. Melton was an investment banking associate in the Global Energy Group at Citigroup in Houston, where he focused on M&A advisory work as well as public and private capital raises. Prior to Citi, Mr. Melton was a senior analyst working in the Goldman Sachs Asset Management group. Mr. Melton holds a Bachelor of Science in kinesiology from the University of Texas and an MBA from the University of Chicago Booth School of Business. He is a member of EnCap Flatrock’s charitable giving committee, the advisory board of the Salvation Army of San Antonio, the McCombs Energy Initiative associate advisory council at the University of Texas at Austin, and the Psi Alpha Chapter of Omega Psi Phi Fraternity Incorporated.
Kyle Stelma also joined EnCap Flatrock in 2017. He previously served as an analyst in the energy investment banking group at Jefferies LLC in Houston, where he focused on M&A advisory work as well as public and private capital raises in the energy sector. Mr. Stelma holds a Bachelor of Business Administration in finance from Texas A&M University. He is a member of EnCap Flatrock’s charitable giving committee. Mr. Stelma and his wife sponsor children through SAMMinistries, a nonprofit organization that works to prevent homelessness in San Antonio.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Casey Nikoloric
TEN|10 Group, LLC
303.433.4397, x101 o
303.507.0510 m
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Agreement Positions EIG for Potential Future Investments in Brazilian Gas Infrastructure
RIO DE JANEIRO & WASHINGTON--(BUSINESS WIRE)--EIG Global Energy Partners (“EIG”) today announced it has signed a definitive agreement with Fluxys for the sale of EIG’s approximately 27.5% stake in Transportadora Brasileira Gasoduto Bolívia-Brasil (“TBG”). TBG owns and operates the Brazilian section of the Bolívia-Brazil pipeline (“GASBOL”), an approximately 2,600 km (1,600 mile) natural gas pipeline system, including the main natural gas transportation network in the south of Brazil. GASBOL is capable of transporting up to 30 million cubic meters per day (1.1 billion cubic feet per day) of natural gas from Bolivia and Brazil’s offshore pre-salt fields to key markets in Brazil. The sale is expected to close in approximately two months following satisfaction of certain conditions precedent. EIG and Fluxys will also explore further strategic cooperation in Brazil’s gas infrastructure market.
EIG has invested in the Brazilian energy market for more than two decades, with EIG-managed funds committing over $2 billion to energy-related infrastructure projects in Brazil in the last ten years alone. With a focus on long-term fundamentals, EIG has taken strategic positions in key Brazilian energy and infrastructure assets. In addition to GASBOL, EIG has invested in Gas Natural Açu (“GNA”), an operational LNG terminal, natural gas and power hub with 6.4GW of gas-fired power under development at the Port of Açu. GNA is a partnership with BP and Siemens and has entered into binding agreements with State Power Investment Corporation of China to join as an additional partner subject to satisfaction of certain conditions precedent. Through GNA, EIG is investing in GASINF, GASOG and GASOFF, three natural gas pipelines capable of connecting offshore pre-salt gas and LNG to Brazil’s gas transportation network, ultimately including GASBOL, through a connection with NTS. EIG also owns a controlling interest in the Port of Açu through its investment in Prumo, which controls Brazil’s only privately held deep-water port capable of handling the largest oil tankers, known as VLCCs. Açu Petroleo has exported over 200 million barrels of pre-salt crude oil, has a maximum capacity of 2.1 million barrels per day and is developing a crude oil storage tank farm and two additional pipelines connecting the terminal to the crude oil transportation network in Rio de Janeiro state. In addition to oil, gas and power, EIG’s comprehensive strategy in Brazil includes renewables and low carbon investments through a “Green Hub” under development at the Port of Açu.
R. Blair Thomas, EIG’s Chief Executive Officer, said, "We are thrilled to have reached agreement with Fluxys for the sale of our interest in TBG. It has been a privilege to support the growth and development of GASBOL, critical infrastructure that delivers natural gas to key markets in Brazil, including Sao Paulo and the industrial regions in the southeastern part of the country. This investment underscores our dual commitment to supporting growth and development in this important region of the world while creating value for our investors. Today’s sale positions the EIG portfolio for additional opportunities in Brazil, and we look forward to partnering with Fluxys where possible.”
Pascal De Buck, Chief Executive Officer of Fluxys, said, “We look forward to joining the existing shareholders of TBG and developing our cooperation with EIG in Brazil’s gas infrastructure market. It is important to continue the development of TBG’s key infrastructure, which is capable of providing Brazil with roughly one-third of its daily natural gas supply. Our aim is to bring to TBG’s Board our industrial experience with gas infrastructure in regulated environments and support the progress of the company through this knowledge sharing.”
Mr. Thomas continued, “Looking ahead, we believe that the market dynamics for natural gas infrastructure in Brazil are very favorable, positioning the sector for extraordinary growth. We remain committed to the ongoing strategic relationships we have established with Fluxys and our partners in Brazil.”
Santander acted as financial advisor to EIG in connection with the transaction, and Paul Hastings and Stocche Forbes served as EIG’s legal advisors. Citi acted as financial advisor for Fluxys, and Linklaters and Mattos Filho served as Fluxys’ legal advisors.
About Transportadora Gasoduto Bolívia-Brasil
Transportadora Gasoduto Bolívia-Brasil (“TBG”) owns and operates a 2,593 km pipeline system, responsible for providing the uninterrupted flow of up to 30 million cubic meters per day of Brazilian and Bolivian natural gas, spanning the states of Mato Grosso do Sul, São Paulo, Paraná, Santa Catarina, and Rio Grande do Sul in Brazil. TBG is one of Brazil’s three major gas pipeline operators, along with TAG and NTS, supplying regions that account for more than 50% of the country’s GDP. TBG is physically connected to seven distributors and thousands of end consumers in those regions, thereby integrating a very large market. With its own specialized technical staff, TBG is the only carrier in the country that manages its own operations and maintenance and is the pioneer of the “entry and exit” model in the Brazilian grid system.
About EIG Global Energy Partners
EIG Global Energy Partners (“EIG”) is a leading institutional investor to the global energy sector with $21.9 billion under management as of September 30, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 39-year history, EIG has committed over $34.4 billion to the energy sector through more than 360 projects or companies in 36 countries on six continents. EIG's clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG's website at www.eigpartners.com.
About Fluxys
Headquartered in Belgium, Fluxys is a fully independent gas infrastructure group with 1,200 employees active in gas transmission & storage and liquefied natural gas terminalling. Through its associated companies across Europe, Fluxys operates 9,000 kilometers of pipeline and liquefied natural gas terminals totaling a yearly regasification capacity of 29 billion cubic meters. Among Fluxys’ subsidiaries is Euronext-listed Fluxys Belgium, owner and operator of the infrastructure for gas transmission & storage and liquefied natural gas terminalling in Belgium. For additional information, please visit Fluxys’ website at fluxys.com.
Media Contact:
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
+1 212-687-8080
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ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ALS.TO #copper--Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) would like to update investors in connection with its lawsuit against both the Governments of Canada and Alberta (collectively, the “Defendants”) in relation to regulatory changes that will force the discontinuation of coal-fired electrical generation from the Genesee and other Alberta power plants by 2030. The lawsuit seeks compensation for actions that Altius believes are tantamount to expropriation of its Genesee royalty asset.
In the Company’s most recent MD&A disclosure Altius noted that the Defendants had filed an application for dismissal of the Altius Statement of Claim and that this had been set for hearing by the Alberta Court of Queen’s Bench (the “Court”) on December 8-11, 2020. This hearing took place before a Master of the Court on those dates. On January 4, 2021, the Master granted the application to dismiss the Statement of Claim on a summary basis and without a trial.
Altius believes that this decision is in error and incorrectly applies the law on taking and constructive expropriation. It is entitled to a full hearing before a Justice of the Court and intends to appeal the decision to a Justice of the Court promptly.
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,464,462 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Flora Wood
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 1.877.576.2209
Direct: +1(416).346.9020
DUBLIN--(BUSINESS WIRE)--The "Gas Insulated Transformers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Gas Insulated Transformers Market to Reach $3.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Gas Insulated Transformers estimated at US$2.9 Billion in the year 2020, is projected to reach a revised size of US$3.6 Billion by 2027, growing at a CAGR of 3.1% over the analysis period 2020-2027.
Up to 72.5 kV, one of the segments analyzed in the report, is projected to record a 3% CAGR and reach US$2.1 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 72.5 kV to 220 kV segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
The U. S. Market is Estimated at $782.4 Million, While China is Forecast to Grow at 5.7% CAGR
The Gas Insulated Transformers market in the U. S. is estimated at US$782.4 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$734.6 Million by the year 2027 trailing a CAGR of 5.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.
Above 220 kV Segment to Record 2.5% CAGR
In the global Above 220 kV segment, USA, Canada, Japan, China and Europe will drive the 2.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$367.7 Million in the year 2020 will reach a projected size of US$425 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$498 Million by the year 2027, while Latin America will expand at a 3.3% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/l1m7gd.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Joint venture of two industry leaders will support expansion of mitigation and conservation banks
HOUSTON & BALTIMORE--(BUSINESS WIRE)--#RES--Resource Environmental Solutions, LLC (RES) and Ecosystem Investment Partners (EIP) announced the acquisition today of a portfolio of mitigation banks in Georgia. This acquisition is enabled by a joint venture between the two companies to develop and acquire mitigation assets serving the state.
The joint venture leverages the expertise of two industry leaders to support and enhance existing mitigation banks, and to develop and maintain new mitigation assets that provide robust ecological benefits to the environment while providing reliable offsets for responsible economic development. RES will be the operator and long-term steward of the mitigation sites.
The joint venture has purchased 11 mitigation banking assets from Mitigation Resource Group. The banks were operated by Blueway, which has been acquired by RES in a separate transaction. These banks serve the Atlanta metro area, one of the fastest growing regions in the country, and will continue to serve public and private sector mitigation customers in the state. Credits from these banks have been a critical part of the region’s infrastructure development, supporting both economic development and ecological restoration priorities. Customers seeking credits can continue to contact Blueway.
“We are excited to work with EIP to acquire and develop mitigation solutions in support of responsible economic growth and development,” says Darrell Whitley, RES President and CEO. “EIP’s proven investment approach to supporting large-scale restoration projects is critical as we work together to develop sustainable ecological restoration projects in these markets. This is an innovative model for bringing institutional investors to the growing ecological restoration market.”
“Since our founding, we have been building and maintaining mitigation projects that support the long-term health of the economy and the natural environment,” says Nick Dilks, EIP Managing Partner. “Working with RES as a fully-scaled, proven implementation provider, that now has strong local capability in Georgia, will help to ensure high-quality and timely development of restoration assets in these important markets.”
About RES
Over the past decade, RES has built a sustainable operating company focused on an integrated approach to the development and implementation of customized restoration projects. Today, the company is a national leader in environmental services, providing ecological restoration and water resource solutions to the public and private sector. The team delivers turnkey, land-based projects that build natural resilience into ecosystems, enabling them to thrive in step with economic growth.
About EIP
Since 2006, EIP has focused on investing in land-based environmental offset markets by acquiring properties with degraded aquatic resources or species habitats, restoring and conserving them according to high standards and delivering those outcomes to its customers and partners nationally. The firm brings together a deep and complementary set of expertise in ecological restoration, private investment management, conservation real estate, and environmental policy. EIP delivers innovative mitigation projects and full delivery restoration solutions at scale.
Michael Hare
RES
Director, Government Affairs and Communications
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Patrick Ryan
RES
VP, Corporate Development
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Katherine Birnie
Managing Director, Markets
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FORT WORTH, Texas--(BUSINESS WIRE)--BNSF Railway Company (BNSF) and Wabtec’s (NYSE: WAB) exploration of the future potential of battery-electric locomotives crosses another significant milestone this week as they begin testing the technology in revenue service between Barstow and Stockton, California. As BNSF seeks ways to further reduce its environmental impact, the advancement of battery technology offers some possible solutions.
“We've got everything in place and we're ready to see how this next-generation locomotive performs in revenue service," said John Lovenburg, BNSF vice president, Environmental. “BNSF is focused on continuing to reduce our environmental impact, and we’re committed to doing our part to test and assess the commercial viability of emerging technologies that reduce emissions.”
The battery-powered locomotive will be situated in a consist between two Tier 4 locomotives, creating a battery-electric hybrid consist. When running on the mainline, both the battery-electric and diesel locomotives will power the train. Watch Wabtec’s battery-electric locomotive video for more details on how it works.
The battery-electric locomotive is expected to reduce the environmental impact from emissions along the route in an efficient manner, while improving the fuel economy for the entire consist by at least 10 percent. The pilot test will run from January until the end of March. If the initial pilot proves successful, BNSF will look to expand testing to other locations and operating conditions on its system.
This initiative builds on BNSF’s existing investments in sustainable technologies including idle control, electric wide-span cranes, battery-electric hostlers, automated gates at its intermodal facilities, and Tier 4 locomotives. BNSF partnered with Wabtec on the development of the battery-electric locomotive, which features an overall energy-management system, including onboard energy storage that, when coupled with advanced system-optimization controls, will improve consist and train performance.
“The FLXdrive is the world’s first 100-percent, heavy-haul battery-electric locomotive that optimizes the total energy utilization of the entire locomotive consist,” said Alan Hamilton, Wabtec vice president, Engineering. “This technology works in a manner very similar to how electric vehicles use regenerative braking. It’s a significant step forward for the rail industry and will change the course for even cleaner, more energy-efficient transport.”
The battery-electric locomotive pilot program is part of a $22.6 million grant awarded to BNSF and the San Joaquin Valley Air Pollution Control District from the Zero- and Near Zero-Emission Freight Facilities (ZANZEFF) project by the California Air Resource Board to pilot several emissions-reducing technologies in and around railyards. The ZANZEFF project is part of California Climate Investments, a statewide initiative that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy and improving public health and the environment — particularly in disadvantaged communities.
About BNSF
BNSF Railway is one of North America’s leading freight transportation companies. BNSF operates approximately 32,500 route miles of track in 28 states and also operates in three Canadian provinces. BNSF is one of the top transporters of consumer goods, grain and agricultural products, low-sulfur coal, and industrial goods such as petroleum, chemicals, housing materials, food and beverages. BNSF’s shipments help feed, clothe, supply, and power American homes and businesses every day. BNSF and its employees have developed one of the most technologically advanced, and efficient railroads in the industry. We work continuously to improve the value of the safety, service, energy, and environmental benefits we provide to our customers and the communities we serve. You can learn more about BNSF at www.BNSF.com.
About Wabtec
Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control (PTC). The transit portfolio provides highly engineered systems and services to virtually every major rail transit system around the world, supplying an integrated series of components for buses and all train-related market segments that deliver safety, efficiency and passenger comfort. Along with its industry-leading portfolio of products and solutions for the rail and transit industries, Wabtec is a leader in mining, marine and industrial solutions. Wabtec has approximately 27,000 employees in facilities throughout the world. Visit the company’s new website at: www.WabtecCorp.com.
Lena Kent
Executive Director Public Affairs
909-386-4140
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Acquisition expands Fairbanks Morse’s aftermarket services for military customers
BELOIT, Wis.--(BUSINESS WIRE)--Fairbanks Morse, a portfolio company of Arcline Investment Management (“Arcline”), has acquired Ward Leonard Operating, LLC (“Ward Leonard” or the “Company”), a leading provider of motor and control solutions for military applications. This acquisition will expand the scope of power and propulsion equipment and aftermarket services that Fairbanks Morse provides to its core customers, including the U.S. Navy, U.S. Coast Guard and the Canadian Coast Guard.
“The acquisition of Ward Leonard expands the Fairbanks Morse product portfolio into complementary technologies, positioning us to serve as a power systems integrator to the U.S. Navy and U.S. Coast Guard,” said George Whittier, CEO of Fairbanks Morse. “Like Fairbanks Morse, Ward Leonard has an installed base across virtually every ship class, and we expect to augment its aftermarket parts and services offerings using Fairbanks Morse’s extensive shop and field service capabilities.”
Ward Leonard has supplied the U.S. Navy for more than 125 years and today specializes in the provision of state-of-the-art motors, control components and systems integration solutions for surface, subsurface and land-based applications. Ward Leonard has approximately 150 employees based in Connecticut. In addition to Ward Leonard’s Connecticut operations, the Company also has affiliated locations in Texas and Louisiana that Fairbanks Morse will not acquire. Fairbanks Morse will retain the Ward Leonard name.
“Through our engineering expertise and industry-leading maintenance and repair services, Ward Leonard has built a strong reputation by focusing on reducing total system costs and mitigating risks for our military customers,” said Jon Carter, owner and CEO of Ward Leonard. “We were impressed with the speed, efficiency and professionalism of both the Fairbanks and Arcline teams in working towards a closing. This move will provide additional support for our customers by increasing their access to OEM products and support through Fairbanks Morse’s waterfront field service presence.”
UBS Investment Bank served as financial advisor to Fairbanks Morse and Arcline.
About Fairbanks Morse
Fairbanks Morse manufactures and services heavy-duty, medium-speed reciprocating engines under the Fairbanks Morse® and ALCO® brand names, which are used primarily in marine and power generation applications. Fairbanks Morse has been the original equipment manufacturer of its engines for over 125 years and has a large installed base for which it supplies aftermarket parts and services. Fairbanks Morse is the principal supplier of diesel engines to the U.S. Navy, U.S. Coast Guard and Canadian Coast Guard. One hundred percent of manufacturing is conducted in its U.S. based facility in Beloit, Wis., while aftermarket parts and services are delivered through its growing network of service centers strategically located around the U.S. Fairbanks Morse is a portfolio company of Arcline Investment Management. Learn more about Fairbanks Morse by visiting www.fairbanksmorse.com.
About Ward Leonard
For more than 125 years, Ward Leonard has provided industry-leading electric motor, generator, control, and service solutions for critical Naval, commercial marine, energy, and industrial applications worldwide. Ward Leonard’s unmatched engineering expertise and maintenance and repair services help customers increase uptime, reduce cost, and mitigate risk in the most demanding environments. Ward Leonard offers a core set of electric motors and control systems that are used in many applications for the U.S. Navy. Today, Ward Leonard is a trusted name for powering heavy industry and defense, having played a key role in the development of electrical equipment such as motor controllers, generators, motors, and related rotary and linear electrical, electro-mechanical, and mechanical equipment for use in some of the most extreme environments on earth. Learn more by visiting www.wardleonard.com.
Fairbanks Morse Media Contact:
Mercom Communications
Wendy Prabhu
Tel: 512-215-4452
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LONG BEACH, Calif.--(BUSINESS WIRE)--“Due to the pandemic, the entire supply chain is experiencing unprecedented problems that have contributed to a delay in goods reaching retail operations and consumers. After cargo volumes crashed in the spring at the start of the pandemic, cargo volumes have now been squeezed into the last remaining months of 2020. The pandemic surge has marine terminals taking extraordinary actions to keep cargo flowing.
“To do our part, marine terminals have opened additional gates to allow more trucks inside the terminal and increase throughput. Marine terminals have also increased hours of operation to allow trucking companies greater access at night and on the weekends. And terminals have leased land outside the ports to create more room to ease congestion on dockside terminals.
“Despite the efforts by all sectors of the supply chain, the pandemic continues to dramatically impact on the goods movement system in California and nationally. U.S. imports, normally spread throughout the year, have been packed into the second half of the year. Normally, the holiday supplies start arriving as early as July, but with the delayed ordering and offshore manufacturing, goods began arriving in higher numbers later in the season. This shortened, concentrated resupply period, more than any other factor, has caused problems throughout the goods movement system.
“The pandemic also impacted the availability of critical workers throughout the supply chain, including those working at the ports, railroads, trucking companies, warehouses, and retail locations. Workers contracting the virus, mandatory quarantines and sanitizing equipment and work sites impacted the ability of system to respond to a record influx of goods. Missed appointments by trucking companies continue to sap capacity in the supply chain, reducing opportunities for cargo to move from terminals to warehouses. Railcar availability is also strained, which is contributing to the inability to clear out the older containers in a timely manner to make room for new containers sitting on the ships that are waiting to unload.
“The pandemic also created equipment problems as retail and warehouse locations are under limited operations leading to delays in returning needed chassis to the ports. Delays in returning chassis have doubled, resulting in, marine terminals unable to move containers out of terminals and make room for new containers.
“Relieving the congestion will require every part of the supply chain working together. Cargo owners must expedite their ordering for pick-up of containers, warehouses and distribution centers must open to accept containers and quickly return equipment, and trucking and rail must increase their capacity to move containers out of the ports.”
About the Pacific Merchant Shipping Association (PMSA). The Pacific Merchant Shipping Association (PMSA) is an independent, not-for-profit association focused on global trade. PMSA operates offices in Oakland, Long Beach and Seattle, and represents owners and operators of marine terminals and U.S. and foreign vessels operating throughout the world.
John McLaurin
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925-786-3768
Montieth & Company ranked as fast-growing PR power player in global communications
NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--#artificialintelligence--For the fourth year in a row, Montieth & Company (M&Co) was chosen by the New York Observer as one of the top-performing PR power player firms. For 2020, the Observer created a PR Power 50 List ranking individual executives from both agency and in-house communications. CEO Montieth Illingworth was recognized for managing the smart globalization of the growing firm, diversifying its sector expertise and achieving key results for its expanding list of clients across multiple markets.
“For some firms, 2020 proved a boom year. Montieth Illingworth’s 13-year-old agency is one of them,” wrote the Observer, adding that “instead of investing tons in overseas offices, Illingworth cannily chose a multilingual team that works across borders. For most of the firm’s clients, staying out of the news means success, but Illingworth’s also engineered a few media coups this year. Almost exclusively among agencies this year, Illingworth’s company maintained a 25% growth rate through the pandemic, an achievement for a business of any size that’s not Amazon or Walmart.”
“We’ve built an agency that provides a highly integrated, flexible and efficient array of PR services and solutions that deliver high-value results in single and multiple markets,” says CEO Montieth Illingworth. “In the face of the pandemic, our team adapted quickly to a new set of emerging needs from our clients who faced both pressing challenges and unique opportunities. I’m honored to be recognized by the Observer and grateful to my colleagues for all their hard work during a challenging year.”
Notable in the success that made M&Co a PR power player in 2020 is the firm’s work in financial and professional services, artificial intelligence, renewable energy and public affairs in over 25 global media markets. M&Co also advised on a range of special situation matters, from supporting companies negatively impacted by the COVID-19 pandemic to civil litigation disputes. In addition, the firm is advising political action committees and non-profit organizations focused on solving societal problems that align with the firm’s corporate values. M&Co has a diverse team of executives that speak 10 languages and is led by its Global Management team with counsel from its Senior Advisors.
In 2020, M&Co created a Diversity, Equity and Inclusion Initiative that provided free media training to over 30 women and minority executives. This holiday season M&Co focused its charitable giving on supporting organizations fighting food insecurity.
“If you’re battled-scarred and tested, your stock went up. Likewise, if you’re smart enough to rewrite the rules, clients wanted you,” said Observer’s PR Power 50.
About M&Co
Montieth & Company is a global communications consultancy that helps you seize opportunity and prevail in the face of your biggest challenges. M&Co has global hubs in New York, London, and Hong Kong and provides services and solutions in multiple money and media center markets throughout the Americas, EMEA, and Asia-Pacific.
Katarina Matic
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917-853-1105
EWING, N.J.--(BUSINESS WIRE)--$OLED #conferences--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced its participation in the following virtual investor and industry conferences.
Investor Conference:
Needham’s 23rd Annual Virtual Growth Conference
Date: January 12, 2021
Presentation Time: 2:45 PM ET*
Location: Virtual
Presenter: Sidney Rosenblatt, Executive Vice President and CFO
* A live and archived audio webcast of the investor presentations will be available on the events page of the Company's Investor Relations website at ir.oled.com.
Industry Conference:
Department of Energy (DOE) 2021 Lighting R&D Workshop
Date: February 1-4, 2021
Location: Virtual
Presenter: Dr. Mike Hack, Vice President of Business Development
Presentation: Lighting & Displays Cross-Cutting R&D
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the impact of the COVID-19 pandemic on the Company and otherwise, the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the sections entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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Universal Display Contact:
Darice Liu
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR) announces the following schedule and teleconference information for its fourth quarter 2020 earnings release:
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
Utility GIS Leader Gains Industry Leading Telecom Business to Expand Market Offering via Fourth Acquisition
DENVER--(BUSINESS WIRE)--SSP Innovations, LLC (SSP), the leader in utility GIS products and services, is pleased to announce the acquisition of 3-GIS, a leading provider of geospatial back-office web and mobile products for the telecom industry. With the 3-GIS acquisition, SSP will acquire best-in-class telecom software products, 3-GIS Web, 3-GIS Mobile, 3-GIS Prospector and 3-GIS Network Express inclusive of their SaaS offering 3-GIS Live. SSP will immediately begin offering the 3-GIS suite of offerings to their existing utility customer base.
“We began this business with the intent all along to find that right parent and partner,” 3-GIS CEO Tom Counts said. “They have the exact same employee-focused culture, have the technical acumen, and have the capital to grow and innovate in this market. They have all the pieces required to move forward in a healthy and global manner.”
The 3-GIS founders, Tom Counts, Tommy Siniard, and Jerry Golden will continue to spearhead the advancement of 3-GIS products and services throughout the telecom industry while further focusing on building the joint company’s international presence. Dustin Sutton (President) will continue overseeing all aspects of the telecom business line in coordination with SSP CEO Skye Perry.
"We are excited to propel the growth of 3-GIS into the future while aligning them with the SSP brand and strong utility presence," SSP CEO Skye Perry said. "3-GIS is already the leader in the telecom market and by aligning forces with SSP, we will be able to create new opportunities for both companies while creating a one-stop shop for customers across the Esri utility and telecom vertical. SSP and 3-GIS will jointly focus on fully aligning the 3-GIS product lines with the Esri utility network further expanding SSP's leadership in the industry around the new, groundbreaking technology."
ABOUT SSP INNOVATIONS
SSP, with offices in Colorado, Wisconsin, and California, is an IT services and software development company focused on delivering GIS, workforce management, joint use, and data maintenance solutions to electric, gas, and water utilities as well as oil & gas pipeline operators and telecommunication providers. More information about SSP is available at https://sspinnovations.com.
ABOUT 3-GIS
3-GIS solves the problems of the telecommunications industry for managing physical network assets by bringing automation, data flow-through, and digital modeling with network management software as a web-based service. The 3-GIS Solution goes beyond understanding where network assets are located, but also helps our customers realize how those physical assets work together. The company’s network management applications provide asset management value at every stage in the life-of-network.
The company offices are in Decatur, AL, Tampa, FL and Bern, Switzerland where we have development, design services, product support, and project management challenging the status quo every day to improve the economic efficiencies of telecom networks; creating a more connected, informed, and lighted world. More information is available at https://www.3-gis.com/.
Keith Freeman, 720.279.9894
-- Acquisition Supports the Advancement of Company’s Integrated Platform and Furthers Company’s Customer-Focused Strategy --
PRINCETON, N.J.--(BUSINESS WIRE)--$NRG #Acquisition--NRG Energy Inc. (NYSE:NRG) completed the acquisition of Direct Energy from Centrica plc effective today, further cementing NRG’s status as the leading, customer-focused integrated energy and services provider. Direct Energy adds over three million customers across North America to NRG’s leading retail portfolio, growing the company’s reach and size.
“The acquisition of Direct Energy further perfects our integrated model by enhancing the way we serve customers with additional products and services,” said Mauricio Gutierrez, NRG President and Chief Executive Officer. “I want to welcome Direct Energy employees into the NRG family as we embark on this exciting new chapter of our evolution.”
NRG now features a larger customer footprint, serving all 50 U.S. states and parts of Canada, with capabilities across residential and small & large business segments. The company’s expanded home service and retail natural gas capabilities provide additional opportunities to serve customers with valuable products and services.
As a result of closing this transaction, NRG’s updated 2021 guidance now reflects the combination of NRG and Direct Energy based on NRG’s previously disclosed guidance and its 2021 expectation for Direct Energy as first provided during its Business Update call on July 24, 2020.
2021 Guidance:
($ IN MILLIONS) |
Updated Guidance |
Adjusted EBITDA1 |
$2,400-$2,600 |
Free Cash Flow before Growth |
$1,440-$1,640 |
1 Non-GAAP financial measure; see Appendix Table for GAAP Reconciliation to Net Income that excludes fair value adjustments related to derivatives. The Company is unable to provide guidance for Net Income due to the impact of such fair value adjustments related to derivatives in a given year.
About NRG
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 more than 3.7 million residential, small business, and commercial and industrial 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, and by 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, @nrginsight.
Forward-Looking Statements
In addition to historical information, the information presented in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as “may,” “should,” “could,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “expect,” “intend,” “seek,” “plan,” “think,” “anticipate,” “estimate,” “predict,” “target,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements include, but are not limited to, statements about the Company’s future revenues, income, indebtedness, capital structure, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions.
Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, the potential impact of COVID-19 or any other pandemic on the Company’s operations, financial position, risk exposure and liquidity, general economic conditions, hazards customary in the power industry, weather conditions, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulations, the condition of capital markets generally, our ability to access capital markets, cyberterrorism and inadequate cybersecurity, unanticipated outages at our generation facilities, adverse results in current and future litigation, the ability to successfully integrate businesses of acquired companies including Direct Energy, our ability to realize anticipated benefits of transactions (including expected cost savings and other synergies) or the risk that anticipated benefits may take longer to realize than expected, and our ability to execute our Capital Allocation Plan.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The adjusted EBITDA and free cash flow guidance are estimates as of January 5, 2021. These estimates are based on assumptions the company believed to be reasonable as of that date.
NRG disclaims any current intention to update such guidance, except as required by law. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this press release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
Appendix Table: NRG 2021 Guidance
The following table summarizes the calculation of Adjusted EBITDA and Free Cash Flow before Growth and provides a reconciliation to Income from Continuing Operations and Cash Flow from Operations:
($ millions) |
2021
|
Income from Continuing Operations |
$1,180 – $1,380 |
Income Tax |
25 |
Interest Expense |
475 |
Depreciation, Amortization, Contract Amortization, and ARO Expense |
555 |
Adjustment to Reflect NRG Share of Adjusted EBITDA in Unconsolidated Affiliates |
70 |
Other Costs |
95 |
Adjusted EBITDA |
$2,400 – $2,600 |
Interest Payments |
(475) |
Income Tax |
(25) |
Working Capital / Other Assets and Liabilities |
(300) |
Cash Flow from Operations |
$1,600 - $1,800 |
Adjustments: Acquired Derivatives, Cost-to-Achieve, Return of Capital Dividends, Collateral, GenOn Pension, Other |
30 |
Adjusted Cash Flow from Operations |
$1,630 - $1,830 |
Maintenance Capital Expenditures, net |
(180) – (195) |
Environmental Capital Expenditures, net |
(5) - (10) |
Free Cash Flow before Growth |
$1,440 - $1,640 |
EBITDA and Adjusted EBITDA are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The presentation of Adjusted EBITDA should not be construed as an inference that NRG’s future results will be unaffected by unusual or non-recurring items.
EBITDA represents net income before interest (including loss on debt extinguishment), taxes, depreciation and amortization. EBITDA is presented because NRG considers it an important supplemental measure of its performance and believes debt-holders frequently use EBITDA to analyze operating performance and debt service capacity. EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are:
Because of these limitations, EBITDA should not be considered as a measure of discretionary cash available to use to invest in the growth of NRG’s business. NRG compensates for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA only supplementally. See the statements of cash flow included in the financial statements that are a part of this news release.
Adjusted EBITDA is presented as a further supplemental measure of operating performance. As NRG defines it, Adjusted EBITDA represents EBITDA excluding impairment losses, gains or losses on sales, dispositions or retirements of assets, any mark-to-market gains or losses from accounting for derivatives, adjustments to exclude the Adjusted EBITDA related to the non-controlling interest, gains or losses on the repurchase, modification or extinguishment of debt, the impact of restructuring and any extraordinary, unusual or non-recurring items plus adjustments to reflect the Adjusted EBITDA from our unconsolidated investments. The reader is encouraged to evaluate each adjustment and the reasons NRG considers it appropriate for supplemental analysis. As an analytical tool, Adjusted EBITDA is subject to all of the limitations applicable to EBITDA. In addition, in evaluating Adjusted EBITDA, the reader should be aware that in the future NRG may incur expenses similar to the adjustments in this news release.
Management believes Adjusted EBITDA is useful to investors and other users of NRG's financial statements in evaluating its operating performance because it provides an additional tool to compare business performance across companies and across periods and adjusts for items that we do not consider indicative of NRG’s future operating performance. This measure is widely used by debt-holders to analyze operating performance and debt service capacity and by equity investors to measure our operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired.
Management uses Adjusted EBITDA as a measure of operating performance to assist in comparing performance from period to period on a consistent basis and to readily view operating trends, as a measure for planning and forecasting overall expectations, and for evaluating actual results against such expectations, and in communications with NRG's Board of Directors, shareholders, creditors, analysts and investors concerning its financial performance.
Adjusted cash flow from operating activities is a non-GAAP measure NRG provides to show cash from operations with the reclassification of net payments of derivative contracts acquired in business combinations from financing to operating cash flow, as well as the add back of merger, integration and related restructuring costs. The Company provides the reader with this alternative view of operating cash flow because the cash settlement of these derivative contracts materially impact operating revenues and cost of sales, while GAAP requires NRG to treat them as if there was a financing activity associated with the contracts as of the acquisition dates. The Company adds back merger, integration related restructuring costs as they are one time and unique in nature and do not reflect ongoing cash from operations and they are fully disclosed to investors.
Free cash flow (before Growth) is adjusted cash flow from operations less maintenance and environmental capital expenditures, net of funding, preferred stock dividends and distributions to non-controlling interests and is used by NRG predominantly as a forecasting tool to estimate cash available for debt reduction and other capital allocation alternatives. The reader is encouraged to evaluate each of these adjustments and the reasons NRG considers them appropriate for supplemental analysis. Because we have mandatory debt service requirements (and other non-discretionary expenditures) investors should not rely on free cash flow before Growth as a measure of cash available for discretionary expenditures.
Free Cash Flow before Growth is utilized by Management in making decisions regarding the allocation of capital. Free Cash Flow before Growth is presented because the Company believes it is a useful tool for assessing the financial performance in the current period. In addition, NRG’s peers evaluate cash available for allocation in a similar manner and accordingly, it is a meaningful indicator for investors to benchmark NRG's performance against its peers. Free Cash Flow before Growth is a performance measure and is not intended to represent net income (loss), cash from operations (the most directly comparable U.S. GAAP measure), or liquidity and is not necessarily comparable to similarly titled measures reported by other companies.
Investors:
Kevin L. Cole, CFA
Investor Relations
NRG Energy
(609) 524-4526
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Media:
Candice Adams
Corporate Communications
NRG Energy
(609) 524-5428
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) today announced that Julian Bott, Executive Vice President and Chief Financial Officer, passed away unexpectedly on January 3, 2021 after experiencing a sudden non-COVID related medical condition.
“It is with profound sadness that I announce the passing of my dear friend and colleague Julian Bott. We have lost a well-respected business leader, advisor and mentor who will be remembered as a compelling and insightful thinker with a steady hand and warm demeanor that made him immensely successful. His presence will be deeply missed within the SWN family and across the broader industry. We extend our heartfelt thoughts and prayers to his wife, Cecile, their sons, Ian and James, his mother, Gillian Bott, sister Kate Bott Hawkins and her husband Jason Hawkins, as well as his entire family,” said Bill Way, Southwestern Energy President and Chief Executive Officer.
“We find comfort in knowing that Julian’s enduring influence on the Company will live on through the next generation of leaders that he mentored and influenced. The Company’s vision remains unchanged, and I am confident in the experienced team that we have in place to continue delivering on our strategic objectives.”
Michael Hancock, Vice President – Finance & Treasurer, who previously reported to Julian, will serve as the Chief Financial Officer on an interim basis. Michael joined the Company in 2010 and has held numerous leadership roles of increasing responsibility in accounting, finance, investor relations, and financial planning and analysis.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas, natural gas liquids and oil exploration, development, production and marketing. For additional information, visit our website www.swn.com.
Investor Contact
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Bernadette Butler
Investor Relations Advisor
(832) 796-6079
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MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy Inc. (NASDAQ: XEL) announced today that it has submitted a redemption notice to the trustee to redeem all of its outstanding 2.40% Senior Notes, Series due March 15, 2021 (Notes), on February 16, 2021 (Redemption Date). The redemption price is the outstanding principal amount of the Notes, plus accrued and unpaid interest to the Redemption Date. The aggregate principal amount of Notes currently outstanding is $400,000,000.
This press release does not constitute a notice of redemption of the Notes. Holders of the Notes should refer to the notice of redemption to be delivered to the registered holders of the Notes by Wells Fargo Bank, N.A., the trustee with respect to the Notes.
This press release is not an offer to sell or a solicitation of an offer to buy any securities.
Forward Looking Statements
This release contains forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements include the company’s plan to redeem the Notes. Actual results may vary materially. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including the availability of credit, actions of rating agencies and their impact on capital expenditures; business conditions in the energy industry: competitive factors; unusual weather; effects of geopolitical events; including war and acts of terrorism; changes in federal or state legislation; regulation; actions of regulatory bodies; and other risk factors listed from time to time by Xcel Energy in its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2019 (including the items described under Factors Affecting Results of Operations) and the other risk factors listed from time to time by Xcel Energy Inc. in reports filed with the SEC.
About Xcel Energy Inc.
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
Financial analysts:
Paul Johnson, 612-215-4535
Vice President, Investor Relations
or
News media inquiries:
Xcel Energy Media Relations, 612-215-5300
DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE:PXD) today announced that Chief Executive Officer Scott Sheffield, will participate in a panel discussion at Goldman Sachs Global Energy Conference on Wednesday, January 6, 2021 at 12:15 p.m. Eastern Time.
The live presentation will be available to the public via webcast - click here. Replays will be available using this link through Monday, February 8, 2021.
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.
Pioneer Natural Resources Contacts:
Investors-
Neal Shah – 972-969-3900
Tom Fitter – 972-969-1821
Michael McNamara – 972-969-3592
Greg Wright – 972-969-1770
Media and Public Affairs-
Tadd Owens – 972-969-5760
LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy, LP today announced it received a 5-star rating from the Global Real Estate Sustainability Benchmark’s (GRESB) 2020 Infrastructure Asset Assessment. GRESB is considered the leading environmental, social and governance (ESG) benchmark for real estate and infrastructure investments across the world.
Tallgrass received 82 points out of a possible 100 in the Infrastructure Asset Assessment, earning a position in the top 20 percent of the 426 participating assets (which together scored an average of 61). Tallgrass’ peers in the natural resource transportation segment scored an average of 70.
"We’re extremely proud to receive GRESB’s highest possible rating,” said Tallgrass CEO William R. Moler. “Tallgrass employees work tirelessly every day to operate our assets in a safe and environmentally conscious manner, and our GRESB rating is a testament to their efforts. In the coming years we look forward to continuing to improve our performance across the entire ESG spectrum.”
"With accelerating sustainability risks, accessing standardized and reliable ESG data and benchmarks has never been more important to investors,” said Sander Paul van Tongeren, Co-founder and Managing Director at GRESB. “It’s inspiring to witness the collective industry effort from around the world to improve ESG transparency and advance sustainable real assets.”
About GRESB
GRESB is a mission-driven and investor-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to the capital markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world. In 2020 alone, more than 1,200 real estate portfolios reported to GRESB covering more than 96,000 assets. Our coverage for infrastructure includes more than 540 infrastructure portfolios and assets. Combined, the reported assets represent US $5.3 trillion AUM. The data is used by more than 100 institutional and financial investors to monitor investments across portfolios and navigate the strategic choices needed for the industry to transition to a more sustainable future.
Learn more at GRESB.com.
About Tallgrass Energy
Tallgrass Energy, LP is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.
To learn more, please visit us at www.tallgrassenergy.com.
Investor and Financial Inquiries
Andrea Attel, 913-928-6012
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or
Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) Chairman and CEO Greg Garland will speak to investors and securities analysts at the Goldman Sachs Global Energy Conference on Thursday, Jan. 7, 2021, at 12:45 p.m. EST. Garland will discuss value creation in an evolving energy landscape and provide an update on the company’s strategic initiatives, including its commitment to disciplined capital allocation.
To access the webcast, go to the Phillips 66 Investors site, www.phillips66.com/investors, and click on “Events and Presentations.” A replay of the webcast will be archived on the Investors site approximately two hours after the event, and a transcript will be available at a later date.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,500 employees committed to safety and operating excellence. Phillips 66 had $54 billion of assets as of Sept. 30, 2020. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
Jeff Dietert, 832-765-2297 (investors)
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Shannon Holy, 832-765-2297 (investors)
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Thaddeus Herrick, 855-841-2368 (media)
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The 2020 virtual awards ceremony recognizes notable contributions to standards development in various industries and technologies
PISCATAWAY, N.J.--(BUSINESS WIRE)--#StandardsDevelopment--IEEE, the world's largest technical professional organization dedicated to advancing technology for humanity, and the IEEE Standards Association (IEEE SA) today announced the recipients of the 2020 IEEE Standards Association (IEEE SA) awards. The annual awards ceremony, available online as a virtual ceremony for 2020, recognizes entities and individuals for their leadership and participation in standards development.
IEEE standards are developed by volunteer working group participants to drive technological innovation, inspire market-relevant solutions, support interoperability, and benefit industry and humanity, all of which make the world a better, safer, and more sustainable place. Innovators from around the world are encouraged to collaborate in standards development and related activities through IEEE SA’s open, neutral, and consensus-based platform.
“Market-driven innovations and solutions have emerged across the technology spectrum thanks to the IEEE SA awards honorees who have dedicated their time and effort to developing a diverse set of excellent standards,” said Robert S. Fish, president of the IEEE SA. “We would like to extend our sincere gratitude to these innovators for their exceptional contributions to IEEE SA’s mission of raising the world’s standards for the benefit of humanity.”
IEEE SA awards are bestowed upon eligible individuals, IEEE SA members, and/or member organizations.
The 2020 IEEE SA Awards categories and recipients are:
IEEE SA Conformity Assessment Award for leadership and commitment toward designing and operationalizing the IEEE 2030.1.1 Electric Vehicle Charging Conformity Assessment Program:
IEEE SA Emerging Technology Award for the development of IEEE Std 802.1CM™-2018, IEEE Standard for Local and Metropolitan Area Networks—Time-Sensitive Networking for Fronthaul, the first IEEE standard to connect a cellular network’s radio equipment to its remote controller via a packet network; in particular, over a bridged IEEE 802.3™ Ethernet network:
IEEE SA Lifetime Achievement Award for continued energy, persistence, and dedication to inclusiveness of scientific thought through participation and leadership in the IEEE International Committee on Electromagnetic Safety (ICES) across almost five decades:
IEEE SA Lifetime Achievement Award for dedicated and enthusiastic service and active engagement on the IEEE Standards Association Standards Board and its committees for more than 25 years, for outstanding leadership in promoting technology and standards development in the solid-state lighting industry, and in recognition of 61 years of continuous IEEE membership:
IEEE SA Standards Medallion for exceptional skill in championing the standardization development of time-sensitive networking:
IEEE SA Standards Medallion for leadership and contributions to the development of standards in the field of distributed energy resource integration:
IEEE SA Standards Medallion for ongoing leadership and contributions to the development of IEEE transformer standards and the standards development process:
IEEE SA Standards Medallion for leadership in standards and technology roadmapping in power electronics:
Related Award:
Ron Waxman Design Automation Standards Committee (DASC) Meritorious Service Award in recognition of outstanding service exemplifying the spirit of the DASC:
For additional information, visit the IEEE SA Awards website to watch the 2020 virtual awards ceremony or obtain additional information about IEEE SA awards.
To learn more about IEEE SA or about any of its many market-driven initiatives, visit us on Facebook, follow us on Twitter, connect with us on LinkedIn, or on the Beyond Standards Blog.
About the IEEE Standards Association
IEEE Standards Association (IEEE SA) is a collaborative organization where innovators raise the world's standards for technology. IEEE SA provides a globally open, consensus-building environment and platform that empowers people to work together in the development of leading-edge, market-relevant technology standards, and industry solutions shaping a better, safer and sustainable world. For more information, visit https://standards.ieee.org.
About IEEE
IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice in a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at https://www.ieee.org.
Tania Olabi-Colon, Director Marketing Communications
+1 732 562-3958, This email address is being protected from spambots. You need JavaScript enabled to view it.
Olivia Wang, Associate Marketing Communications Manager
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TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that John Lindsay, President and Chief Executive Officer; Mark Smith, Senior Vice President and Chief Financial Officer; Dave Wilson, Vice President of Investor Relations; and other members of H&P management plan to participate in the following investor conferences during the month of January 2021. Participation by the management team will vary by event.
Investor slides to be used during the conferences will be available for download on the company’s website, within Investors, under Presentations, the afternoon of January 5, 2021.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.
IR Contact:
Dave Wilson, Vice President of Investor Relations
918-588-5190
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