SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) today announced that Balu Balakrishnan and Sandeep Nayyar, the company’s CEO and CFO, will participate in an online fireside chat at the Wells Fargo TMT Summit on December 1 at 2:20 p.m. Pacific time. A live webcast of the event will be available via the investor page of the company’s website, investors.power.com.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power-conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.
Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.
Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
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CHARLESTON, W.Va.--(BUSINESS WIRE)--Third paragraph, last sentence should read: The Company has grown substantially in recent years to having over 100 wells online with nearly 400mmcfd... (instead of The Company has grown substantially in recent years to having over 100 wells online with nearly 400mcfd ...).
The updated release reads:
NEW INVESTMENT SIGNALS CONTINUED GROWTH FOR NORTHEAST NATURAL ENERGY
Northeast Natural Energy (“NNE” or the “Company”) announced today that the Company has entered into an amendment with its senior lending group led by EIG Global Energy Partners (“EIG”) to extend the maturity of its current credit facility to December 2023 and provide significant additional liquidity to the Company to execute on its go-forward business plan. In connection with the amendment, the lead equity investors in the Company, including Metalmark Capital, Wells Fargo and Prudential, have agreed to make an incremental equity contribution to the Company of $65 million to help fund capital expenditures.
Northeast Natural Energy’s President and CEO Mike John acknowledged that “our team is very grateful for the confidence shown by our investors and lenders in expanding and extending their financial support of the Company.”
Greg Myers, Partner at Metalmark Capital, stated, “Mike John and the management team at NNE have done an amazing job at navigating the challenges of the commodity price decline with a relentless focus on costs and well level economics. The Company has grown substantially in recent years to having over 100 wells online with nearly 400mmcfd of gross production and is well capitalized by its lenders and equity investors to continue its growth trajectory from this point forward.”
Northeast Natural Energy LLC, headquartered in Charleston, WV, is a private oil and gas company focused on natural gas drilling, exploration, acquisition and joint-venture opportunities in the Marcellus Shale. The principals of NNE have worked together in various capacities for over 30 years and possess a significant amount of knowledge and operational expertise in the Appalachian Basin, in particular the Marcellus Shale formation.
www.northeastnaturalenergy.com
Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders, and executives. The firm focuses its investment activity in growth industrials, natural resources, agribusiness, and healthcare. Metalmark Capital manages funds with $3.8 billion in aggregate capital commitments.
http://www.metalmarkcapital.com
EIG Global Energy Partners is a leading institutional investor to the global energy sector with $22.9 billion under management as of June 30, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 38-year history, EIG has committed over $34.2 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.
This press release does not constitute an offering of interests in any fund or partnership managed by Metalmark Capital. If and when an investment opportunity is structured, all investors must obtain and carefully read the related confidential offering memorandum and any amendments or supplements thereto.
Brett Loflin
(304) 414-7063
LONDON--(BUSINESS WIRE)--#GlobalWindTurbineMonitoringSystemsMarket--The global wind turbine monitoring systems market size is poised to grow by USD 4.23 billion during 2020-2024, progressing at a CAGR of almost 16% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The increase in the failure of wind turbine components is one of the key factors driving the growth of the global wind turbine monitoring system during the forecast period. Due to the dynamic nature of wind, these generators endure various recurrent load variations and mechanical stress, which can lead to their breakdown. Any damage to the wind turbine generator will adversely impact the entire operation of the wind turbine. This is where the monitoring system comes in very handy, as it can detect accidents early and provide a timely response before significant losses occur. Thus, the failure of components is expected to drive the market for wind turbine monitoring systems.
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The reduction in cost for wind projects will be a Key Market Trend
This reduction in the cost of wind projects is mainly due to the drop in prices for offshore applications. Given that wind-generated electricity prices are extremely competitive, they incur costs that are lower than all other renewable resources. Moreover, further cost reduction will further drive the growth of the wind energy market during the forecast period.
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Wind Turbine Monitoring Systems Market 2020-2024: Key Highlights
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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.
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AKRON, Ohio--(BUSINESS WIRE)--$BW #BabcockWilcox--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) has been invited to present at the 8th Annual Virtual Industrials Conference, which is taking place December 2-4, 2020.
B&W management is scheduled to participate in a fireside chat on December 3, 2020 at 3:50 p.m. Eastern time, and will participate in one-on-one meetings throughout the conference. The presentation will be webcast live and available for replay on the Company’s Investor Relations website at https://investors.babcock.com/events-and-presentations.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
Investor:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox Enterprises
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Ryan Cornell
Public Relations
Babcock & Wilcox Enterprises
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Charging collaboration provides access to one of the largest networks of public chargers for drivers and support for retailers
CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint, one of the world’s largest electric vehicle (EV) charging networks, and Volvo Car USA LLC are working to make the charging experience seamless for drivers of Volvo Cars’ Recharge models and provide support for its retail network. The announcement comes just ahead of the launch of the Volvo XC40 Recharge pure electric SUV across North America.
ChargePoint will support Volvo Cars retail networks across the United States and Canada and provide opportunities for Volvo Car drivers to buy the ChargePoint Home Flex home charger, adding to the convenience of charging at home. Volvo Cars’ drivers will also be able to take advantage of one of North America’s largest EV charging networks with access to most of ChargePoint’s more than 115,000 places to charge and thousands of additional charging spots publicly available through roaming agreements throughout the region.
“The transition to electric mobility is inevitable and the introduction of exciting new EV models like the all-new XC40 Recharge is another example of the shift already underway around the world,” said Michael Hughes, Chief Revenue Officer, ChargePoint. “ChargePoint’s collaboration with Volvo Cars in the United States and Canada will provide a platform for EV charging across public, residential, and retail locations in the United States and Canada. With access to North America’s largest charging network, the ability to buy the ChargePoint Home Flex, and by providing support for retail charging deployments, this is a blueprint for collaborations that can advance the electric mobility revolution into the future.”
“This collaboration with ChargePoint gives Volvo Cars a way to break down one barrier to EV adoption, which is the ability to quickly and easily get a charge,” said Anders Gustafsson, Senior Vice President, Americas and President and CEO, Volvo Car USA.
Home Charging Solutions
As the adoption of EVs increases, fueling behavior changes, transforming the driver experience. Unlike fueling ICE-powered vehicles, charging an EV takes place where the car is parked anyway, with more than 80 percent of charging occurring at home and work. To help enhance the buying experience and make it easier for Volvo Cars’ drivers making the switch to electric, purchasers of the XC40 Recharge and other Recharge models can select to buy the ChargePoint Home Flex, one of the market’s fastest, most advanced and flexible home chargers available today. With the ability to deliver up to 50 amps, Flex allows drivers to charge any EV up to 9 times faster than a standard wall outlet, delivering up to 37 miles of electric driving Range Per Hour. Adjustable amperage options support almost any charging need and can be matched to any home’s electrical supply today and into the future.
Retail Charging Solutions
As Volvo Cars retailers in the U.S. and Canada prepare for the introduction of the brand’s first pure EV, they will have access to ChargePoint’s entire portfolio of AC and DC fast charging hardware and software solutions to fit the wide range of needs required to support the future suite of EVs hitting the market. ChargePoint will offer Volvo Cars’ retailers special pricing and support as they deploy charging infrastructure at their locations. ChargePoint’s comprehensive suite of solutions and services gives retailers access to assistance from site design to installation as well as a robust warranty.
Public Charging Solutions
Drivers of the XC40 Recharge and future Volvo Recharge models, will be able to leverage one of the world’s largest EV charging networks with access to most of ChargePoint’s more than 115,000 places to charge. Through roaming agreements with other EV charging providers, drivers will also be able to access thousands of additional places to charge with one ChargePoint account throughout North America. This represents access to more than 80 percent of publicly available networked EV charging throughout the United States and Canada.
With the ChargePoint app, drivers can conveniently manage both home and public charging in one place, with the ability to locate stations, check status, start a session and more.
About ChargePoint
Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric. The company has built the largest EV charging network and most complete portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, drivers have logged more than 84 million charging sessions, with drivers plugging into the ChargePoint network approximately every two seconds. ChargePoint is creating the new fueling network to move all people and goods on electricity. For more information, visit the ChargePoint pressroom or contact the This email address is being protected from spambots. You need JavaScript enabled to view it. and This email address is being protected from spambots. You need JavaScript enabled to view it. press offices.
ChargePoint:
Darryll Harrison, Sr. Director, Global Communications and Social Media
(o) 669-237-3380
(c) 562-250-4720
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Put Dimming the Dining Room Lights and Opening the Oven Door Less on your Holiday Menu
SAN FRANCISCO--(BUSINESS WIRE)--As millions of Pacific Gas and Electric Company (PG&E) customers get ready to celebrate Thanksgiving, here are some ways to gobble up energy savings and serve a side dish of safety this turkey day.
“Holiday celebrations may look different this year as a result of the pandemic, and we want to help our customers keep electrical and gas safety in mind as well as ways to reduce energy costs. Whether you are gathering with a smaller, immediate family group or connecting virtually, we hope everyone finds time to safely enjoy this special time of year,” said Laurie Giammona, PG&E Senior Vice President and Chief Customer Officer.
PG&E shares these simple tips for customers enjoying the holidays:
Fire safety is critical on Thanksgiving as it is the peak day for home cooking fires especially when frying foods. Turkey fryers can easily tip over spilling hot oil across a large area. Customers should only use turkey fryers outdoors on a sturdy, level surface away from things that can burn.
PG&E also asks customers to adhere to the Centers for Disease Control and Prevention (CDC) and local guidelines to help protect communities from COVID-19 during the holidays. Wear a mask in public settings, avoid close contact by staying at least 6 feet apart (about 2 arms’ length) from anyone not in the same household, and wash hands often with soap and water.
For more ways to stay safe this holiday season, visit www.pge.com/safety.
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 nearly 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
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In an industry where women are just 19% of the workforce,
Encamp’s new Women of EHS initiative is putting them front and center.
INDIANAPOLIS--(BUSINESS WIRE)--Encamp, an end-to-end environmental compliance platform for the Environment Health and Safety (EHS) sector, has announced its new Women of EHS initiative to let women throughout the EHS industry tell their stories. As a forum, the initiative will let women in all areas of the EHS field discuss aspects of their careers and other environmental and societal issues they’re passionate about. And with the following topics among many on the discussions list, the responses promise to be as candid and illuminating as they are inspirational.
● How and why did you get into the environmental field?
● What are some of the challenges you’ve faced and how have you overcome them?
● Share your thoughts on the future of EHS...
● How can the EHS space improve for women?
● What advice would you give to other women who choose EHS as a career?
The Women of EHS initiative will feature an ongoing series of personal profiles, blogs, videos, and webinars, all to be posted at encamp.com/women-of-ehs.
A greater voice
According to Safety + Health magazine and its 2020 EHS Salary Survey, women currently make up just 19% of the EHS workforce in the U.S. Results of the survey, conducted in conjunction with the Board of Certified Safety Professionals (BCSP), were compiled from more than 9,200 respondents and published in the magazine’s November issue.
Encamp launched its initiative in part to encourage more women to explore EHS as a career. The goal is also to give a greater voice to women who are already leaders in the industry. Of the female respondents to the Safety + Health-BCSP survey, 23% are directors, managers, chiefs, or department heads, and another 36% directly supervise other staff. The average tenure of women in the EHS field is 13 years.
“We need more women and diversity in the industry and in executive roles,” said Jaime Geil, a Senior Environmental Scientist at Encamp and one of the early contributors to the Women in EHS series. “Women need to feel like they can speak up and should be a part of decision making. We have to give women a seat at the table and space to thrive and excel in this industry.”
Agreed, Jaime. That’s why the time is right for Women of EHS to be heard.
About Encamp
Since 2017, organizations have used Encamp’s cloud-based end-to-end platform to simplify how they manage documents, tasks and deadlines for Environmental Health and Safety (EHS) compliance. Businesses also more easily submit Tier II forms for hazardous chemicals and reports for the Emergency Planning and Community Right-to-Know Act (EPCRA), and track their compliance status in all 50 states. This makes our platform truly one of a kind and has made Encamp the largest third-party filer of EPCRA Tier II reports in the EHS industry.
Encamp
Jessica Engel, Director of Marketing
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New VersaView 6300 industrial PCs and thin clients allow users to create a single, secure and dependable visualization system
MILWAUKEE--(BUSINESS WIRE)--Rockwell Automation (NYSE: ROK) announced today the release of new industrial PCs and software to markedly improve the reliability and security of visualization applications. Visualization systems are often among the most expensive plant floor systems to maintain and are a common target for unauthorized users looking to access control system assets and intellectual property.
The new industrial Allen-Bradley VersaView 6300 PCs and thin clients combine with FactoryTalk View human-machine interface (HMI) software and ThinManager thin-client management software to create a complete visualization system. Thin clients are computers connected remotely to a server storing applications, rather than using a local hard drive. For mission critical applications, users can deploy ThinManager redundancy or a VersaView 6300 PC running local and remote applications to help ensure reliability if server communications are lost.
In addition, unlike most industrial PCs, each model in the VersaView 6300 family is individually designed to minimize or remove frequent points of failure like fans and connectors, helping reduce costs and extend the life of the PC.
“These new industrial PCs and the ability to create a more reliable and cost-effective visualization system are the result of our acquisition of ASEM S.p.A., an Italy-based provider of automation technologies,” said Dan DeYoung, hardware business director, Rockwell Automation. “We’re also working to bring the acquisition to fruition in other valuable ways, such as by offering greater customization and breadth to our industrial computers and expanding remote connectivity options.”
Customers can enhance cybersecurity when they use the new industrial PCs with ThinManager software. Multiple PCs with locally stored applications spread across a plant floor can increase the attack surface and security risks. ThinManager software allows applications to run and be maintained from a central and secure location.
Additionally, when users acquire both the visualization hardware and software from one source, support is simplified. This can reduce the headaches, costs, and mean time to repair that typically come from working with multiple vendors for support issues. Users can also save money by taking advantage of the flexible content delivery methods and simplified licensing that are available from a Rockwell Automation-based system.
The new Allen-Bradley VersaView 6300B box PCs and thin clients deliver dependable performance and are available in multiple options to match user application needs. Other benefits include:
The new Allen-Bradley VersaView 6300P panel PCs are scalable to meet a range of performance requirements. Other benefits include:
VersaView 6300 industrial PCs include Windows 10 IoT Enterprise 2019 LTSC, the latest Microsoft Windows 10 IoT enterprise version. Ethernet ports are also gigabit ports to handle high volume network traffic.
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 23,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing The Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
Allen-Bradley, FactoryTalk, FactoryTalk View, ThinManager and VersaView are trademarks of Rockwell Automation Inc.
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Rockwell Automation
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Padilla
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Leading Global Energy Producer Chooses Nutanix Infrastructure as It Focuses on Innovation and Sustainability
SAN JOSE, Calif.--(BUSINESS WIRE)--Nutanix (NASDAQ: NTNX), a leader in hybrid and multicloud computing, announced today that Total, one of the largest energy producers in the world, has implemented Nutanix solutions, including Nutanix’s hyperconverged infrastructure (HCI) software, AHV, Files, Flow, Prism, and Xi Frame to develop a unified IT environment supporting the majority of their global operations. Total selected Nutanix to deliver the reliability and performance its users expect, while ensuring the necessary flexibility for the company to adapt to the fast-changing oil and gas industry. Additionally, the company selected Nutanix to support its goal of dramatically minimizing its datacenter footprint as part of its environmental initiatives to reduce greenhouse emissions.
One of the largest energy producers in the world, Total S.A. is a French multinational company whose businesses cover the entire oil and gas supply chain. Its global operations encompass everything from crude oil and natural gas exploration and production, to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading.
To power its global, distributed operations, Total needed an IT environment that could support its 7,000 applications across the organization, as well as to help increase the reliability and flexibility of their IT infrastructure. In addition, Total also needed a solution that would help them modernize their siloed datacenter and provide a consistent platform and management for all the company’s sites, regardless of the size of each site.
“Over the past few years, we have standardized the majority of our IT infrastructure on Nutanix and have migrated our operations to several clusters throughout North America,” said Guillaume Brocard, Senior Operations Advisor at Total. “These 11 clusters are 100 percent Nutanix, with no other on-premises infrastructure. Standardizing on Nutanix has enabled us to dramatically reduce our total cost of ownership, while helping us make our operations more efficient.”
Nutanix solutions help enable Total to streamline administration and enhance automations, including maintenance, as well as optimize costs. Nutanix solutions also contribute to providing the reliability and performance required to maintain its business leadership in the challenging energy production space, as any loss of services could have significant repercussions. With Nutanix software powering its IT infrastructure in North America, Total has experienced no loss of services for its affiliates in the past three years.
In addition to streamlining operations and increasing reliability, Nutanix solutions help enable Total to quickly deploy resources to keep up with their growing needs. The ability to quickly scale, as well as roll in and roll out resources as needed, is an important aspect for Total as it navigates a changing landscape with ever-evolving IT needs. The Nutanix software-defined infrastructure solution enables this flexibility while also providing built-in data protection and one-click security upgrades to help maintain the security and integrity of sensitive industry data.
“With over 7,000 applications across their global organization, Total needed an IT infrastructure that could consistently deliver high performance globally,” said Andrew Brinded, Vice President & General Manager EMEA Sales at Nutanix. “With Nutanix, Total has the peace of mind of knowing they have a reliable infrastructure that can easily scale to meet the growing needs of the industry.”
With a wide variety of Nutanix solutions supporting key infrastructure operations, Total now has an extensible foundation that can bring new efficiencies to their operations. Over the next three years, Total plans to continue ramping up its Nutanix environment to enable additional sites and services, optimizing costs using Nutanix solutions together with other technologies.
More information on how Total is implementing Nutanix solutions is available here.
About Nutanix
Nutanix is a global leader in cloud software and a pioneer in hyperconverged infrastructure solutions, making computing invisible anywhere. Organizations around the world use Nutanix software to leverage a single platform to manage any app at any location at any scale for their private, hybrid and multi-cloud environments. Learn more at www.nutanix.com or follow us on Twitter @nutanix.
© 2020 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo and all Nutanix product and service names mentioned herein are registered trademarks or trademarks of Nutanix, Inc. in the United States and other countries. All other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This press release may contain links to external websites that are not part of Nutanix.com. Nutanix does not control these sites and disclaims all responsibility for the content or accuracy of any external site. Our decision to link to an external site should not be considered an endorsement of any content on such a site. This release may contain express and implied forward-looking statements, which are not historical facts and are instead based on our current expectations, estimates and beliefs. The accuracy of such statements involves risks and uncertainties and depends upon future events, including those that may be beyond our control, and actual results may differ materially and adversely from those anticipated or implied by such statements. Any forward-looking statements included herein speak only as of the date hereof and, except as required by law, we assume no obligation to update or otherwise revise any of such forward-looking statements to reflect subsequent events or circumstances.
Nutanix
Lia Bigano
(408) 708-1003
Extension - 12636
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ABILENE, Texas & FORT WORTH, Texas--(BUSINESS WIRE)--Petrosmith, a leading provider of production equipment and oilfield tubular goods, has acquired the assets of Wellflex Energy Solutions, LLC (“Wellflex” or the “Company”), a leading engineering, procurement and construction management company.
Wellflex, headquartered in Fort Worth, Texas, utilizes the latest in design technology to assist in detailed engineering, fabrication and project management to provide customers with the most efficient, fit for purpose equipment.
Chris Thomas, CEO of Petrosmith, said, “We believe Wellflex’s design and project management solutions are best-in-class and will be in high demand as the energy sector gets back on track. Combining the Wellflex process with Petrosmith’s quality fabrication and services will provide our operators and customers an efficient and effective process to reduce facility expenses as the market returns. We are excited to add the Wellflex team to Petrosmith as we steer the company towards long-term success.”
“Our successful sale to Petrosmith is a testament to our team’s collective effort to be the best in providing high quality, design, engineering, fabrication and construction management for our customers,” said Nick Klaus, President of Wellflex. “We’re excited to join Petrosmith as we begin the next chapter of Wellflex’s growth and success.”
“The addition of Wellflex provides an exciting opportunity to partner with a company aligned with our own values in prioritizing quality of service,” said Michael Duffy, President of Petrosmith. “Wellflex has a strong brand built on a foundation of nearly 15 years of high-quality service.”
About Petrosmith
Founded in 1983 as Smith Pipe of Abilene, Petrosmith is dedicated to efficiently designing and manufacturing high-quality, innovative and reliable products for the oil and gas industry. Smith Pipe of Abilene transitioned to Petrosmith to better reflect the variety of offerings and expanded footprint in the industry. Petrosmith is a service-oriented, technologically advanced company, dedicated to time-honored traits of efficiency and high quality in the design and manufacture of products for today’s and tomorrow’s oil and gas industry. For more information, visit petrosmith.com.
About Wellflex Energy Solutions, LLC
Wellflex Energy Solutions was founded in 2006 in the heart of the Barnett Shale during one of the most innovative periods in energy industry history. Wellflex was created to deliver quality products on time and improve efficiencies of pad site construction, providing solutions from a standard bare vessel to a fully customized ModFlex™ pad site. With over 100 years of production and process equipment experience, Wellflex is an industry leader in modular production equipment solutions. For more information, visit wellflex.com.
Becky Byrd
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LONDON--(BUSINESS WIRE)--#GlobalOffshoreWindTurbineMarket--Technavio has been monitoring the offshore wind turbine market and it is poised to grow by 54,975 MT during 2020-2024, progressing at a CAGR of almost 24% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Eaton Corporation Plc, ENERCON GmbH, General Electric Co., Hitachi Ltd., Nordex SE, Senvion SA, Siemens AG, Suzlon Energy Ltd., Vestas Wind System AS, and Xinjiang Goldwind Science & Technology Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Government support for wind energy projects has been instrumental in driving the growth of the market. However, competition from alternative sources of energy might hamper market growth.
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Wind Turbine Monitoring Systems Market by Application and Geography - Forecast and Analysis 2020-2024: The wind turbine monitoring systems market size has the potential to grow by USD 4.23 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Offshore Wind Turbine Market 2020-2024: Segmentation
Offshore Wind Turbine Market is segmented as below:
Offshore Wind Turbine Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The offshore wind turbine market report covers the following areas:
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Offshore Wind Turbine Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Substructures
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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
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DALLAS--(BUSINESS WIRE)--Spring Valley Acquisition Corp. (the “Company”), a blank check company sponsored by Pearl Energy Investment II, L.P. (“Pearl”) and formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit.
While the Company may pursue an initial business combination target in any business or industry, the Company intends to target companies in the sustainability industry, including clean energy and storage, smart grid/efficiency, environmental services and recycling, mobility, water and wastewater management, advanced materials and technology enabled services. The Company’s sponsor is an affiliate of Pearl, an investment firm that focuses on partnering with best-in-class management teams to invest in the North American energy industry, typically targeting opportunities requiring $25 million to $100 million of equity capital.
The units will be listed on The Nasdaq Capital Market (“Nasdaq“) and trade under the ticker symbol “SVSVU” beginning November 24, 2020. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols “SV” and “SVSVW,” respectively. The offering is expected to close on November 27, 2020, subject to customary closing conditions.
Cowen and Wells Fargo Securities acted as joint book running managers and Drexel Hamilton, LLC and Siebert Williams Shank & Co., LLC acted as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, telephone: (833) 297-2926 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it., or Wells Fargo Securities, Attn: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, telephone: (800) 326-5897 or email a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
A registration statement relating to the securities became effective on November 23, 2020 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute “forward-looking statements,” including with respect to the closing of the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Spring Valley Acquisition Corp.
www.sv-ac.com
Robert Kaplan
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DUBLIN--(BUSINESS WIRE)--The "South America Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The South America bunker fuel market is expected to grow at a CAGR of more than 14% over the period of 2020-2025
The bunker fuel market in the region is mainly driven by the ever-rising marine transportation of essential commodities, implementation of the stricter environmental regulations driving the demand for cleaner bunker fuels, and the increase in the use of marine vessels for offshore oil and gas developments. However, the outbreak of COVID-19, leading to the global economic and maritime trade slowdown is likely to restrain the growth of the South America bunker fuel market in the coming years.
The Very Low Sulfur Fuel Oil (VLSFO) is expected to witness significant growth during the forecast period, owing to factors like IMO 2020 Regulations that came into effect from January 1st, 2020.
Developing sea trade routes and rising international maritime trade may offer tremendous opportunities for marine fuel suppliers in the region.
Brazil is expected to dominate the bunker fuel market in the region owing to factors like huge crude oil production and a steady rise in exports from the country.
Key Market Trends
Very Low Sulfur Fuel Oil (VLSFO) to Witness Significant Growth
Very Low Sulfur Fuel Oil (VLSFO) is expected to witness significant growth in the forecast period, owing to factors like IMO 2020 Regulations that came into effect on 1st January 2020, and rising environmental concerns over high greenhouse gases emissions from the marine sector.
Brazil to Dominate the Market
Brazil is the largest economy in the region and is expected to be the fastest-growing economy in the forecast period. The country is one of the fastest-growing countries in the world because of the increasing population, urbanization, and industrialization.
Competitive Landscape
The South America bunker fuel market is moderately fragmented. Some of the key players in this market include Bunker Holding A/S, Monjasa Holding A/S, Vitol Holding BV, World Fuel Services Corp, and Peninsula Petroleum Ltd.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 High Sulfur Fuel Oil (HSFO)
5.1.2 Very Low Sulfur Fuel Oil (VLSFO)
5.1.3 Marine Gas Oil (MGO)
5.1.4 Liquefied Natural Gas (LNG)
5.1.5 Others (Methanol, LPG, Biodiesel)
5.2 Vessel Type
5.2.1 Containers
5.2.2 Tankers
5.2.3 General Cargo
5.2.4 Bulk Container
5.2.5 Others
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Fuel Suppliers
6.3.1.1 Vitol Holding BV
6.3.1.2 Monjasa Holding A/S
6.3.1.3 Bunker Holding A/S
6.3.1.4 World Fuel Services Corp
6.3.1.5 Peninsula Petroleum Ltd
6.3.1.6 Total SA
6.3.1.7 Chevron Corporation
6.3.2 Ship Owners
6.3.2.1 AP Moeller Maersk A/S
6.3.2.2 Mediterranean Shipping Company S.A.
6.3.2.3 China COSCO Holdings Company Limited
6.3.2.4 CMA CGM Group
6.3.2.5 Hapag-Lloyd AG
6.3.2.6 Ocean Network Express
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/wl5fg9
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GLADBECK, Germany--(BUSINESS WIRE)--In conjunction with European Hydrogen Week, global power leader Cummins Inc. (NYSE: CMI) today shared new research revealing that more than half of the United Kingdom (UK) commuters would be willing to travel to work on a train or bus powered by hydrogen to lower their carbon footprint and reduce emissions and nearly half of commuters in Belgium and Germany expressed the same view. This new data was obtained through a survey of 6,000 respondents in Belgium, Germany and the United Kingdom in October 2020.
“It is encouraging to see the citizens and governments across Europe are prioritizing the climate and understand that investment in hydrogen technologies is a path to improve the environment and fuel economic recovery from the impact of COVID-19,” said Amy Adams, Vice President of Fuel Cell & Hydrogen Technologies at Cummins. “With both the EU and the UK pledging to be carbon-neutral by 2050, there is, in short, real appetite from policymakers and citizens to make a collective difference. Hydrogen is a key part of Cummins’ portfolio of solutions to help our customers succeed and as a path toward zero emissions.”
The survey results demonstrate positive attitudes towards clean technology alternatives for public transport, with about 40% consumers in Belgium, Germany and the UK willing to pay £1 or €1 more for their daily commute in order to lower their carbon footprint.
48% of British citizens expressed that low-carbon technologies are important for the UK’s economic recovery from COVID-19. In addition, more than 40% of citizens in Belgium and Germany agreed that low-carbon technologies are important for their country’s economic recovery plans.
When asked about buying or renting a car powered by hydrogen, over a quarter of respondents in Belgium and the UK reported concerns with the upfront cost. Less than 20 percent of consumers in Germany, the UK and Belgium were also deterred by the limited amount of hydrogen refuellers available. Furthermore, one in five UK citizens believe that it will take 20-30 years for there to be more cars powered by hydrogen fuel on the road than gas-powered cars, and nearly a quarter believe this will never happen. A third of consumers in Germany and more than a quarter in Belgium agreed.
Fortunately, European consumers are willing to switch to more sustainable public transport – and this technology is available now. Alstom’s iLint, for example, has proven that hydrogen trains are an effective solution for more sustainable rail networks in Europe. With the right commercial technologies in place, consumers can lower their carbon footprints without facing additional costs.
-ENDS-
Methodology
This research was conducted through Google Surveys in October 2020. Commissioned by Cummins, 6,000 consumers were surveyed across Belgium, Germany and the UK.
About Cummins Inc.
Cummins Inc. is a global technology company designing, manufacturing, distributing and servicing a broad portfolio of reliable, clean power solutions; including diesel, natural gas, hybrid, electric and other alternative solutions. Established in 1919 and headquartered in Columbus, Indiana (U.S.), Cummins serves customers in more than 190 countries and territories around the world. More information can be found at www.cummins.com/alwayson.
Jon Mills
Cummins Inc.
Phone: 317-658-4540
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LONDON--(BUSINESS WIRE)--#GlobalResidentialSolarEnergyStorageMarket--The residential solar energy storage market is expected to grow by USD 26.59 billion, progressing at a CAGR of about 37% during the forecast period. Technavio estimates the market to have a negative impact due to the spread of the COVID-19 pandemic. The imposition of lockdown to contain the spread of the novel coronavirus resulted in a partial or complete shutdown of manufacturing activities in the short term. This led to a decline in the demand for solar energy storage equipment. However, the market is expected to recover and post healthy growth as many companies are resuming their operations and things getting back to normal.
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The rising energy costs is one of the major factors propelling the market growth. The rising cost of energy is encouraging many residential end-users to opt for renewable power sources such as solar. This has increased the demand for solar energy storage systems for residential applications, which is driving the growth of the market. However, technical challenges associated with battery technology might hamper market growth.
More details: https://www.technavio.com/report/residential-solar-energy-storage-market-size-industry-analysis
Residential Solar Energy Storage Market: Technology Landscape
Based on the technology, the market saw maximum growth in the lithium-ion batteries segment in 2019. This is due to the various benefits of lithium-ion batteries compared to other battery types. The market growth in the segment will be significant during the forecast period.
Residential Solar Energy Storage Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 51% of the market’s overall growth is expected to originate from APAC. The growth of the market in APAC is driven by the increasing investment in green construction projects and zero energy buildings.
China, Japan, and India are the key markets for residential solar energy storage market in APAC. The growth of the residential solar energy storage market size in this region will be faster than the growth of the market in other regions.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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.
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LONDON--(BUSINESS WIRE)--#apac--SpendEdge forecast the global Deep Sea Freight market is expected to grow by USD 62 billion as we reach 2024. This is due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 2.80%.
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Deep Sea Freight 2020-2024: Scope
SpendEdge presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The Deep Sea Freight market report covers the following areas:
Deep Sea Freight Market Geographic Landscape Outlook
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Deep Sea Freight Market 2020-2024: Key Highlights
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Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more https://www.spendedge.com/request-for-demo
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LONDON--(BUSINESS WIRE)--#GlobalWindTowerMarket--The wind tower market is expected to grow by USD 6.75 billion, progressing at a CAGR of over 4% during the forecast period. The spread of the COVID-19 pandemic has left a negative impact on the growth of the market. Governments across the world imposed lockdowns to contain the spread of the novel coronavirus. This resulted in a partial or complete shutdown of manufacturing activities in the short term, which significantly affected the market demand. However, the market is expected to recover and post healthy growth as many companies are resuming their operations and things are getting back to normal. In addition, many governments worldwide are making significant investments in the installation of wind power systems, which is creating a significant rise in demand for wind towers globally.
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The increasing demand for heightened wind towers is one of the major factors propelling the market growth. The wind blows more steadily in higher altitudes. Also, high-altitude wind towers produce more power from a single wind turbine, thereby reducing the total number of turbines needed in a wind farm. Hence, significant investments are being made in the development and installation of heightened wind towers. Besides, increasing government support for wind energy projects is expected to foster market growth during the forecast period.
More details: https://www.technavio.com/report/wind-tower-market-industry-analysis
Wind Tower Market: Product Landscape
Based on the product, the market saw maximum growth in the tubular steel towers segment in 2019. Tubular steel towers are considered the most economical solution and a proven concept of having a short installation time. This is one of the key factors driving the segment growth.
Wind Tower Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 56% of the market’s overall growth is expected to originate from APAC. The growth of the market in APAC is driven by the increasing investments in airborne wind turbines.
China and India are the key markets for the wind tower market in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the wind tower market size.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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.
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LONDON--(BUSINESS WIRE)--#GlobalTankContainerShippingMarket--The global tank container shipping market is expected to register an incremental growth of 42.24 thousand TEU, progressing at a CAGR of over 1% during 2020-2024. According to the report by Technavio, the outbreak of the COVID-19 pandemic has negatively impacted the growth of the market in the short term. The market witnessed the closure of several industries owing to the imposition of lockdowns worldwide. This has severely affected the business of companies that use tank container shipping in a wide range of applications. However, the market is expected to gain traction with businesses resuming their operations and the adoption of progressive initiatives to control the spread of COVID-19.
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"One of the primary growth drivers for this market is the growing seaborne trade,” says a senior analyst for the Industrials industry at Technavio. The growth of the global population has increased the demand for various manufactured goods. This has created the need for efficient and cost-effective transportation modes such as seaborne transportation to ensure timely delivery of manufactured goods. This has increased the demand for tank containers, which, in turn, is driving the growth of the global tank container shipping market.
Tank Container Shipping Market Segment Highlights for 2020
Regional Analysis
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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.
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LONDON--(BUSINESS WIRE)--#GlobalWindTurbineGearboxMarket--The wind turbine gearbox market is expected to grow by USD 3.81 billion, progressing at a CAGR of almost 6% during the forecast period. The market is expected to have a negative impact due to the spread of the COVID-19 pandemic. The spread of the pandemic compelled governments across the world to impose lockdowns. This resulted in a partial or complete shutdown of manufacturing activities in the short term, which significantly affected the market demand. However, the market is expected to recover and post healthy growth as many companies are resuming their operations and things are getting back to normal. In addition, many developing countries, especially China and India, are rapidly expanding their capacity for renewable energy sources, including wind energy, to achieve their emission targets and reduce environmental pollution. This is creating significant opportunities for vendors.
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The increase in offshore wind energy installations is one of the major factors propelling the market growth. Offshore wind installations have witnessed a significant increase in recent years. Offshore wind farms do not require a dedicated area of land for installation and are located on the ocean surface, where the wind energy potential is high. The rising adoption of offshore wind energy turbines has increased the demand for high-performance gearboxes with lower maintenance and repair costs. This is expected to drive the growth of the market during the forecast period.
More details: https://www.technavio.com/report/wind-turbine-gearbox-market-industry-analysis
Wind Turbine Gearbox Market: Type Landscape
Based on the type, the market witnessed maximum growth in the new wind turbine gearbox segment. This is due to the installation of new wind turbine power projects worldwide. However, the growing need for wind turbine gearbox replacements will present maximum opportunities in the replacement segment during the forecast period.
Wind Turbine Gearbox Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 64% of the market’s overall growth is expected to originate from APAC. The growth of the market in APAC will be driven by the increasing investments in new wind power capacity additions during the forecast period.
China, Japan, and India are the key markets for wind turbine gearboxes in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Global Wind Tower Market - Global wind tower market is segmented by product (Tubular steel towers, Concrete towers, and Other towers), geography (APAC, Europe, North America, South America, and MEA), and application (onshore and offshore). Click Here to Get an Exclusive Free Sample Report
Companies Covered:
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$AP #ACECool--DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced that its power electronics business, Coolisys Technologies Corp.® (“Coolisys®”), has established a program targeting both national and regional fast-food franchisees to install the ACECool™ electric vehicle (“EV”) chargers as a part of a revenue sharing program. The program initially will be funded from the Company’s recent capital raising activities. The program is expected to be launched in California, Nevada and Canada. While the Company is excited about Coolisys’ new franchise program, there is no assurance that the program will be successful.
The Company expects that the program will allow franchise owners and operators to install the ACECool™ EV chargers and share in the net revenue from advertising and network usage. This same program is anticipated to be a model for other strategic industry-focused and geo-focused networks. Coolisys expects to launch its program with a national fast-food network franchisee that forms a part of a network with over 1,000 locations. Coolisys expects to announce other network partners in the first quarter of 2021.
Global EV sales rose a dramatic 65% from 2017 to 2018, for a total of 2.1 million vehicles, with sales figures steady through 2019. The subsequent outbreak of the coronavirus pandemic, however, resulted in a 25% decline in EV purchases during the first quarter of 2020. Despite these setbacks, EV demand is again expected to rise according to a study by Bloomberg New Energy Finance, which sees improved batteries, more readily available charging infrastructure, new markets and price parity with internal combustion engine vehicles as the major growth drivers. The study estimates that EVs will comprise 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040. In terms of expanding the current infrastructure to support EV deployment, McKinsey reported that by 2030 more the $30 billion will need to be spent on the rollout of EV chargers and, that by 2030, the US market for services to support the charging of EV fleets could be worth $15 billion.
Amos Kohn, President and CEO of Coolisys, said, “The opportunities for Coolisys in the burgeoning EV marketplace are anticipated to drive our sales growth over the next 60 months and beyond. We look forward to the potential changes coming from increased demand for EVs and the recent trends related to government support of the electrification of transport. I believe we are well positioned to leverage these opportunities as a 50+ year old company experienced and capable of creating innovative and highly-efficient power systems and solutions.”
For more information on DPW Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.DPWHoldings.com or available at www.sec.gov.
About Coolisys Technologies Corp.
Coolisys and its portfolio companies and divisions are primarily engaged in the design and manufacture of innovative, feature-rich, and top-quality power products for mission-critical applications in the harshest environments and life-saving, life sustaining applications across diverse markets including defense/aerospace, medical/healthcare, industrial, telecommunications, and automotive. Coolisys’ headquarters are located at 1635 South Main Street, Milpitas, CA 95035; www.Coolisys.com.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW’s headquarters are located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
Forward-Looking Statements
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
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