LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, priced an upsized offering of $750 million in aggregate principal amount of 6.000% senior unsecured notes due 2030 at an offering price equal to 100% of par (the “Notes Offering”).
The Notes Offering is expected to close December 22, 2020, subject to satisfaction of customary closing conditions. TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund a concurrent cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.75% Senior Notes due 2023 (the “2023 Notes”), to redeem the 2023 Notes that remain outstanding following the consummation of the Tender Offer, and to redeem $250 million principal amount of its outstanding 5.50% Senior Notes due 2024. The Tender Offer is being made pursuant to an Offer to Purchase dated December 15, 2020.
The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. TEP plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
About Tallgrass Energy
Tallgrass Energy is a leading energy and 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.
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MADRID & LONDON--(BUSINESS WIRE)--I Squared Capital, a leading global infrastructure investment manager, announces that it has entered into an agreement to sell Grupo T-Solar to Cubico Sustainable Investments Ltd, the renewable energy specialist jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, for a total enterprise value of €1.5 billion.
“Our objective during our stewardship of T- Solar was to improve operations, grow the platform and establish T-Solar as a leader in renewables energy in Spain. We will continue to invest globally in renewables generation as well as transition energy in both industrial and growth economies,” said Sadek Wahba, Chairman of Grupo T-Solar and Managing Partner of I Squared Capital.
A leading European renewables platform, Grupo T-Solar has 274 megawatts of installed and regulated capacity in Spain and Italy with growth prospects underpinned by a 1.4-gigawatt pipeline of solar photovoltaic projects.
Marta Martinez Queimadelos, CEO of T-Solar stated that, “Under I Squared Capital’s ownership, Grupo T-Solar grew from 168 to 274 megawatts of installed capacity in Europe, and recently completed one of the largest financings in the Spanish renewable energy market of €568 million through a landmark green bond issue.”
Last year alone, Grupo T-Solar’s projects generated over 602 gigawatt-hours of clean electricity and avoiding over 216,000 tons of CO2 emissions.
Mohamed El Gazzar, Partner of I Squared Capital in London stated, “To date we have invested in approximately 600 megawatts of operating renewable assets and have a pipeline of close to 3 gigawatts of various technologies including onshore and offshore wind, solar, storage, and anerobic digestion. We are also focusing on improving the energy efficiency of our assets across the sectors we invest in and providing solutions for security of power, which is critical in addressing the intermittent nature of renewable generation.”
About I Squared Capital:
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, digital infrastructure, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Miami, Hong Kong, London, New Delhi, New York, and Singapore. The firm has $19.3 billion in assets under management and owns and operates a diverse portfolio of 26 companies. For more information, please visit: http://www.isquaredcapital.com/
Media contacts
Spanish media:
Brunswick Group LLP for I Squared Capital
Pilar Teixeira
+44 207 404 5959
Maria Mier Portillo
+44 207 404 5959
International and trade media:
Brunswick Group LLP for I Squared Capital
Fiona Micallef-Eynaud / Ed Brown / Inez Vilar
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I Squared Capital Investor Relations
Andreas Moon, Managing Director
+1 (786) 693-5739
With the theme of “Empowering the Development of Safe & Secure Embedded Systems,” the sixth edition of ESSS will feature live sessions on the latest in aerospace & defense, automotive, industrial and medical
BENGALURU, India--(BUSINESS WIRE)--#ARMEmbedded--LDRA, in collaboration with industry partners and associations, today announced the inaugural virtual edition of the sixth-annual Embedded Safety & Security Summit to be held on June 17, 2021. This international summit is an initiative that sheds light on the growing significance of implementing safe and secure practices and technologies in embedded systems.
With the theme of “Empowering the Development of Safe & Secure Embedded Systems,” the virtual ESSS conference will provide an exclusive arena for the global embedded community to learn, interact and nurture relationships. The virtual platform will have a distinctive online event experience with deep-dive technical sessions, interactive lobby areas and the right mix of networking opportunities.
Highlights of #ESSS21Virtual include:
“In these unprecedented times, this virtual conference is an opportunity for embedded safety and security ecosystem stakeholders to stay connected,” said Ian Hennell, Operations Director at LDRA UK. “Together, we can provide the outstanding technology content and business opportunities that have been hindered by the current climate.”
Shinto Joseph, Director - South East Asia Operations, LDRA added, “Since 2015, ESSS has successfully brought together the global embedded community to explore the latest advancements, topics, and imminent technologies. While we’d all prefer to meet in person, this virtual gathering will enable us to continue to share our expertise, learn about new advancements, and network from wherever we are. We look forward to sharing more details about #ESSS21Virtual with everyone as we get closer to this exciting event.”
For more information on sponsorship opportunities, paper submission and registration for #ESSS21Virtual, visit www.embedded-safety-security.com.
About LDRA
For more than 40 years, LDRA has developed and driven the market for software that automates code analysis and software testing for safety-, mission-, security-, and business-critical markets. Working with clients to achieve early error identification and elimination, and full compliance with industry standards, LDRA traces requirements through static and dynamic analysis to unit testing and verification for a wide variety of hardware and software platforms. Boasting a worldwide presence, LDRA has headquarters in the United Kingdom, United States, Germany, and India coupled with an extensive distributor network. For more information on the LDRA tool suite, please visit www.ldra.com.
About ESSS®
Focusing on the safety and security aspects of critical embedded systems, the Embedded Safety & Security Summit (ESSS) is an exclusive arena for the whole embedded community to learn, interact and nurture. LDRA drives this successful initiative with support from partners, clients, industrial & professional bodies and government agencies. Learn more at www.embedded-safety-security.com
Kelly Wanlass, HCI Marketing and Communications Inc., Media Relations
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Mark James, LDRA, Marketing Manager
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that, subject to market conditions, it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, intend to offer $500 million aggregate principal amount of senior unsecured notes due 2030 in a private placement to eligible purchasers (the “Notes Offering”).
TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund a concurrent cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.75% Senior Notes due 2023 (the “2023 Notes”), and to redeem any 2023 Notes outstanding after completion of the Tender Offer. The Tender Offer is being made pursuant to an Offer to Purchase dated December 15, 2020.
The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. TEP plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
About Tallgrass Energy
Tallgrass Energy is a leading energy and 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.
Investor and Financial Inquiries
Andrea Attel, (913) 928-6012
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Reactive Technologies joins Accenture Ventures’ Project Spotlight program
Forms strategic alliance to help accelerate the commercialization of grid data for utilities
NEW YORK--(BUSINESS WIRE)--Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, and formed a strategic alliance with Reactive Technologies, a London-based provider of power and grid technology, to help utilities accelerate the transition to low-carbon energy.
According to a new report from the International Energy Agency, renewable energy will become the largest source of electricity generation worldwide in 2025, and data and digital technology will be key enablers for this shift. To effectively integrate the surge in renewables, power grids will need more visibility over network conditions to accurately balance the grid and manage inertia, or system strength. Reactive Technologies offers measurement, real-time analytics and data services that can help grid operators and other energy market players address these challenges.
“As electricity production from wind and solar continues to grow, the share of variable renewables in the production mix is likely to present stability challenges for utilities to balance their grids,” said Stephanie Jamison, a senior managing director who leads Accenture’s utilities business. “We believe Reactive Technologies’ innovative technology solutions can help improve critical decision making by moving from models to measurement. Coupled with Accenture’s experience in the utilities business, our Industry X business’ focus on grid-balancing expertise and our global reach, these services can accelerate the creation of the utility of the future. This type of collaboration is key to helping our clients achieve their sustainability and business goals.”
Maikel van Verseveld, managing director, Accenture Industry X, added, “Reactive Technologies’ patented measurement solutions and scalable cloud platform, combined with high-resolution edge computing devices, enable a digital network twin for simulating operations. This allows network operators to measure grid inertia and system stability in real-time. This convergence of communications, information and operating technology embeds new levels of intelligence in the operations of utilities, offering clients untapped potential for making the grid more stable, safe and efficient.”
Reactive is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software businesses to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain expertise and its enterprise clients, to harness human creativity and deliver on the promise of new technology. Through the program, Reactive Technologies will co-innovate with Accenture and its clients at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to bring solutions to market more quickly and more effectively.
“Through unique measurement technologies, the fundamental challenges of managing grid stability with ever increasing amounts of renewable energy being deployed can now be solved,” said Marc Borrett, CEO of Reactive Technologies. “Through GridMetrix®, critical grid parameters can be captured accurately and continuously for grid operators, transmission or distribution, national or regional. This will enable them to be properly equipped to better manage grid stability risks, save money, invest smarter, and integrate more renewable energy in the power system. Working with Accenture helps us to operate on a global basis with a local presence and support our offering with their full suite of technical and commercial delivery capabilities.”
Tom Lounibos, managing director, Accenture Ventures, added, “Our investment and alliance with Reactive Technologies brings to life Accenture Ventures’ commitment to cultivating the latest technologies, enhanced by human ingenuity. Reactive Technologies’ solutions solve some of the most critical business needs of our utilities clients, which will only become more complex in the future."
Reactive Technologies is the latest addition to the investment portfolio of Accenture Ventures, which is focused on investing in companies that create or apply disruptive enterprise technologies.
Terms of the investment were not disclosed.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Accenture helps organizations across the utilities value chain embrace change to accelerate growth and the energy transition while providing safe, reliable, affordable and sustainable energy. To learn more, visit Accenture’s Utilities industry portal.
About Reactive Technologies
Reactive Technologies is an innovative UK and Finland based cleantech company whose mission is to accelerate the transition to a low carbon future. Reactive enable this with unique, patented data measurement and analytics for Transmission System Operators (TSOs) and Distribution Network Operators (DNOs) that address the energy industry’s greatest challenges. Reactive’s services enable TSOs, DNOs and energy market participants to operate more effectively, with lower risk and cost exposure as greater renewable generation is deployed, used and traded across power systems globally. Reactive Technologies’ commercial partnership with National Grid ESO follows successful innovation projects proving GridMetrix® unique ability to accurately measure power grid inertia directly, a technological world first. Reactive has been awarded a number of accolades including being named in the 2018 Cleantech Group ‘Ones to Watch’ list which features exciting up-and-coming companies globally. To find out more, please visit www.reactive-technologies.com.
Guy Cantwell
Accenture
+1 281 900 9089
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Oliver Williams
Caroline Cutler
Ntobeko Chidavaenzi
Reactive Technologies (via FTI)
+44 20 3727 1000
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) was recognized by CDP with a ‘B’ score for its commitment to transparency and governance around climate change, ranking above the sector (oil and gas storage and transportation) average of ‘C’ and exceeding the North American regional average of ‘D’. Williams’ score signifies the company is taking coordinated action on climate change.
"As the first North American midstream company to set aggressive and actionable climate targets, Williams is committed to addressing climate change in a pragmatic and economically feasible manner across our operations, and we hold ourselves accountable through transparent interactions with customers, employees and shareholders," said Alan Armstrong, president and chief executive officer. "This recognition from CDP demonstrates that Williams is on the right track to successfully sustain and evolve our natural gas-focused business to reduce emissions and build a clean energy economy while delivering long-term value to stakeholders.”
CDP's annual disclosure and scoring process is a widely recognized measure of strong corporate environmental transparency and performance. This is the first year Williams participated in the full disclosure and scoring process through the CDP climate change questionnaire.
Williams’ focus on sustainable performance is recognized in other key rankings for 2020, including:
Williams continues to take an active industry role in demonstrating real and sustainable achievements in ESG reporting by co-leading an initiative though the Energy Infrastructure Council (EIC) to launch the first-ever Midstream Company ESG Reporting Template that allows midstream energy infrastructure companies to present their sustainability metrics that matter most to investors in a transparent and comparable way.
ESG Analyst Event scheduled for Jan. 19
Williams will host a virtual ESG event on Tuesday, Jan. 19, 2020, from 9 a.m. to 11:30 a.m. CT, to discuss its ESG performance, climate commitment and forward-looking strategy for sustainable operations. Additional information on this event will be shared in early January.
To read the company’s 2019 Sustainability Report, visit https://www.williams.com/sustainability/climate-commitment/.
To learn more about Williams’ climate commitment visit https://www.williams.com/climate-commitment/.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
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INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
Virtual power plant platforms can optimize EV charging and support the discharge of EV batteries to aid the electricity grid during peak demand
BOULDER, Colo.--(BUSINESS WIRE)--#EVCharging--A new report from Guidehouse Insights analyzes unidirectional (V1G) and bidirectional (V2G) smart charging applications for grid services, as managed through virtual power plants (VPP) software platforms, providing global market forecasts for capacity, implementation spending, and revenue, through 2029.
The deployment of EVs can cause strain on localized grid infrastructure, particularly as higher numbers of EVs connect to the grid to charge during periods of peak demand. A VPP platform can optimize EV charging and potentially support the discharge of EV batteries to assist the electricity grid during periods of peak demand. Click to tweet: According to a new report from @WeAreGHInsights, in 2020, a total of 261.5 MW is expected to support VGI-based VPPs. This capacity will likely scale more than tenfold to 29.9 GW by 2029.
“The symbiotic relationship between VPP platform solutions and plug-in EV (PEV) adoption has led to an understanding of vehicle grid integration (VGI) as one of the next frontiers in smart device management,” says Jessie Mehrhoff, research analyst with Guidehouse Insights. “VPPs work to achieve the greatest possible profit for distributed energy resources (DER) asset owners while maintaining the proper balance of the electricity grid at the lowest possible economic and environmental cost.”
Over the next decade, a growing portion of VGI capacity is expected to integrate with VPP platforms to provide flexible capacity in response to price signals through 2029. V2G solutions remain a nascent market at the start of the forecast period, and V1G solutions are anticipated to contribute to the bulk of VGI-based VPP capacity over the forecast period; however, Guidehouse Insights expects that V2G-based capacity will grow globally at a compound annual growth rate (CAGR) of 83.1% from 2020-2029.
The report, VPP Applications for Managed EV Charging Platforms, analyzes both unidirectional (V1G) and bidirectional (V2G) smart charging applications, as managed through VPP software platforms. The study provides an analysis of market trends, including drivers and barriers, and a regional overview of developments in VGI-based VPP deployment. Global market forecasts for capacity, implementation spending, and revenue, broken out by region and customer segment, extend for both V1G- and V2G-based VPPs through 2029. The study also includes case studies to illustrate global R&D of VGI-based VPP solutions. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, VPP Applications for Managed EV Charging Platforms, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today that it intends to offer $250 million aggregate principal amount of additional 6.750% senior secured notes due 2025 (the “Additional Notes”) in a private offering, subject to market conditions. There are $1,000.0 million 6.750% senior secured notes due 2025 outstanding as of the date hereof. If consummated, the Company intends to use the net proceeds from the offering of the Additional Notes for general corporate purposes.
The Additional Notes and the guarantees thereof will be offered in the United States to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States under Regulation S under the Securities Act. The Additional Notes and the guarantees thereof will not be registered under the Securities Act or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the consummation of the offering or the Company’s anticipated use of the net proceeds from the offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
IR:
Alan Andreini
(212) 798-6128
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SAN JOSE, Calif.--(BUSINESS WIRE)--Tula Technology, Inc., a tech leader in improving propulsion efficiency and reducing emissions in passenger cars and commercial vehicles, announced that the one millionth vehicle utilizing its award-winning Dynamic Skip Fire (DSF®) technology was produced in November 2020. DSF technology modulates power output by dynamically firing or skipping each cylinder in response to torque demand, creating optimal engine efficiency and reduced emissions and fuel consumption. Tula’s proprietary technology is being used in the top-selling Cadillac Escalade, Chevrolet Silverado and Suburban, and the GMC Sierra and Yukon. In aggregate, DSF on these one million vehicles prevents up to one million tons of CO2 from being emitted annually when compared to conventional V8 engines.
“We’re excited to reach this milestone, which further validates our ongoing efforts to improve efficiency and reduce emissions in a cost-effective manner,” said R. Scott Bailey, CEO of Tula. “The increasing adoption of DSF and Tula’s controls technologies reflects the innovative culture at Tula, and our commitment to developing efficiency solutions across all propulsion types.”
Tula partners with OEMs to provide a transformational bridge to a future of clean, efficient automotive propulsion. Following the success of its control philosophy in DSF, Tula’s engineers have developed diesel DSF (dDSF), which has been proven to reduce NOx and CO2 emissions in diesel-powered vehicles, and Dynamic Motor Drive (DMD), which maintains electric motor operation near peak efficiency, allowing for extended range, reduced battery requirements, and motor cost reductions for electric vehicles.
“It’s been a pleasure to work with Tula on the development and implementation of this groundbreaking technology that delivers greater efficiency and reduced emissions in our full-size SUVs and full-size pickups,” said Matthew Tsien, Chief Technology Officer of General Motors and President of GM Ventures. “The joint cooperation of Tula and GM engineers has resulted in fuel-saving solutions for our customers and advances our global sustainability goals.” GM Ventures was an early investor in Tula and a development partner for Tula’s DSF technology, known as Dynamic Fuel Management (DFM) in GM applications.
Tula’s first DSF innovation reached proof of concept internally in 2011 and with GM in 2014. The company has global scale, engaging with OEMs in the U.S., Europe, and Asia to launch the production of numerous models in both the passenger and commercial markets in the coming years.
About Tula Technology, Inc.
Silicon Valley-based Tula Technology provides innovative award-winning software controls to optimize propulsion efficiency and emissions across the mobility spectrum, including gasoline-powered, diesel, alternative fuel, hybrid, and electric vehicles. Tula’s culture of innovation has resulted in breakthrough technology and a robust global patent portfolio of 140+ patents and another 120+ patents pending. Tula Technology is a privately held company backed by Sequoia Capital, Sigma Partners, Khosla Ventures, GM Ventures, BorgWarner, and Franklin Templeton. More information is available at www.tulatech.com.
Tula Technology, Inc.
Ram Subramanian
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Financial Profiles, Inc.
Debbie Douglas
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes (the “Notes”) listed in the following table upon the terms and conditions described in TEP’s Offer to Purchase, dated December 15, 2020 (the “Offer to Purchase”).
Issuer (1) |
Title of Security |
CUSIP
|
Principal Amount Outstanding |
Purchase Price per $1,000 of Notes (2) |
||||
Tallgrass Energy Partners, LP |
4.75% Senior Notes due 2023 |
87470LAE1/ U8302LAF5 |
$498,390,000 |
$1,026.10 |
____________________
(1) Tallgrass Energy Finance Corp., a wholly owned subsidiary of TEP, is a co-issuer of these securities.
(2) Holders whose Notes are purchased will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the initial settlement date.
The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase, Letter of Transmittal and Notice of Guaranteed Delivery, copies of which may be obtained from Global Bondholder Services Corporation, the tender agent and information agent for the Tender Offer, by calling (866) 794-2200 (toll free) or, for banks and brokers, (212) 430-3774. Copies of the Offer to Purchase, Letter of Transmittal and Notice of Guaranteed Delivery are also available at the following web address: https://www.gbsc-usa.com/tallgrass/.
The Tender Offer will expire at 5:00 p.m., New York City time, on December 21, 2020 unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes.
Settlement for Notes tendered prior to the Expiration Time and accepted for purchase will occur promptly after the Expiration Time, which is expected to be December 22, 2020, assuming that the Tender Offer is not extended or earlier terminated. The settlement date for any Notes tendered pursuant to a Notice of Guaranteed Delivery is expected to be on December 24, 2020, subject to the same assumption.
To the extent the Tender Offer is not subscribed in full, TEP intends to exercise its right to redeem any Notes that are not tendered in the Tender Offer. The redemption date is expected to be on or about January 21, 2021. The redemption price for the Notes will be 102.375% of the aggregate principal amount being redeemed, plus accrued and unpaid interest on the Notes redeemed to, but not including, the redemption date. The Tender Offer and the redemption are conditioned upon the satisfaction of certain conditions, including the completion of a contemporaneous notes offering (the “Notes Offering”) by TEP on terms and conditions (including, but not limited to, the amount of proceeds raised in such Notes Offering) satisfactory to TEP. The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund the Tender Offer and to redeem any 2023 Notes outstanding after completion of the Tender Offer.
TEP has retained Wells Fargo Securities, LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to Wells Fargo Securities, LLC at (toll free) (866) 309-6316 or (collect) (704) 410-4756.
This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer. In addition, this press release is not an offer to sell or the solicitation of an offer to buy any securities issued in connection with any contemporaneous notes offering, nor shall there be any sale of the securities issued in such offering in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Tallgrass Energy
Tallgrass Energy is a leading energy and 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.
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE #RNG--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced new and extended contracts for more than 58 million gallons of Redeem™ renewable natural gas (RNG) to accommodate the continued demand for the sustainable fuel from key business segments including heavy duty trucking, solid waste and public transit.
“Our customers have continued to operate their essential businesses at a very high level, despite significant challenges from the COVID-19 pandemic,” said Nate Jensen, senior vice president renewable fuels, Clean Energy. “This means that essential employees are able to get to work, refuse is collected every day, and goods movement continues uninterrupted throughout the U.S. Our customers have demonstrated their commitment to sustainable transportation by enthusiastically embracing our ultra-low carbon Redeem RNG. In response, we have significantly augmented our supplies of Redeem RNG and expect to provide ever-increasing volumes of the clean, sustainable fuel to our customers.”
Clean Energy’s Redeem was the first commercially available RNG vehicle fuel, derived from capturing the biogenic methane produced by the decomposition of organic waste from dairies, landfills, and wastewater treatment plants. Redeem reduces climate-harming greenhouse gas emissions by at least 70 percent, and even up to 300 percent depending on the source of the RNG, making it a negative carbon fuel.
Food Express
Specializing in the transportation of food grade dry bulk commodities in the Western U.S., Food Express, Inc., based in Arcadia, CA has contracted Clean Energy to build a station in Maywood, CA that will deliver an estimated 4.7 million gallons of Redeem for its fleet of 60 RNG trucks. The deal also includes an operations and maintenance agreement for the station, which is expected to be completed by mid-2021.
“We’re pleased to work with Clean Energy on construction of a new fast fill station in Maywood, California,” said Food Express President Kevin Keeney. “Building a station that is dedicated to our fleet will provide more seamless access to ultra-low-carbon RNG and will further our company’s sustainable transportation goals.”
Adopt-A-Port
Pacific Green Trucking, Inc., which operates drayage vehicles in the Ports of Los Angeles and Long Beach, is adding 39 new RNG trucks to its fleet through the Chevron and Clean Energy partnership Adopt-A-Port program. In migrating from diesel fuel to RNG, Pacific Green has committed to an approximate 2.3 million gallons of Redeem.
“Switching trucks to fuel with Renewable Fuels is vital to improving air quality and fighting climate change in our country’s largest port complex,” said Greg Roche, vice president, Clean Energy. “We’re proud to see our partnership with Chevron on the Adopt-a-Port in action to put cleaner, carbon-negative trucks on the road and lessen the environmental impact on operations in the region.”
Rolling with RNG
CR&R Environmental Services has renewed a contract for an anticipated 20 million gallons of Redeem to fuel over 200 CNG waste and recycling trucks at its Garden Grove and Perris stations. This volume is expected to increase as CR&R completes replacement of more diesel trucks in the coming years.
In San Juan Capistrano, CA, CR&R has extended a separate contract for an expected 9 million gallons of Redeem to power over 100 LNG waste and recycling trucks.
Waste Connections, the third largest waste company in North America, has inked a multi-year extended supply contract for an approximate 8 million gallons of Redeem to meet its growing RNG truck fleet needs. A long-term customer of Clean Energy, Waste Connections has expanded its fleet of 110 waste trucks to 100 percent RNG at its San Jose hauling company.
“RNG is a low-carbon alternative to diesel that provides numerous environmental and economic benefits,” said Paul Nelson, Division Vice President of Waste Connections. “Our RNG trucks perform well, don’t require significant infrastructure development, and support the broader environmental objectives of the customer base we serve. Fueling our fleet with Redeem provides us a long term GHG solution for the market and helps us achieve our corporate sustainability goals.”
Long-time Clean Energy customer Atlas Disposal, a waste hauling company based in Sacramento, has signed a multi-year extension contract for an anticipated 10 million gallons of Redeem across their two stations – Sacramento and San Jose.
“When it comes to alternative fuel technology, there is no better solution than natural gas trucks from a performance, emissions and cost benefit perspective. And when those trucks use RNG, it’s a game changer for the market,” said Dave Sikich, president, Atlas Disposal. “Being good stewards of the environment was one of the pillars on which Atlas Disposal was founded, so we are proud of our commitment to be a 100% RNG company across all our fleet operations. RNG is the best low-carbon solution for companies like ours.”
Big Blue Bus, the transit agency that services one of the most environmentally conscious cities in Los Angeles County, Santa Monica, CA, has extended its Redeem fueling contract with Clean Energy for an anticipated 4 million gallons of RNG to fill its bus fleet, one of the largest in the nation.
Zero Now
Linden Bulk Transportation LLC, a subsidiary of Odyssey Logistics & Technology Corporation, has added two new natural gas trucks to its fleet through Clean Energy’s Zero Now program. The offering brings the price of a natural gas truck at parity with a diesel truck, while offering a guaranteed fuel discount for the duration of the agreement.
The new CNG tractors will fuel with an estimated 20,000 gallons of CNG and are the first in Linden’s plan to add more natural gas trucks to the Odyssey fleet.
“Natural gas powers more than 12 million vehicles on the road today – and for good reason,” said Michael Salz, president of Linden Bulk Transportation. “Companies like Odyssey use natural gas tractors to reduce smog-forming emissions and pollutants and better align with carbon footprint and sustainability goals.”
National Cement, based in Encino, CA, has purchased 15 new RNG concrete mixers through Clean Energy’s Zero Now program, with a multi-year fuel agreement for an anticipated 675,000 gallons of Redeem.
The Town of Smithtown on Long Island, NY has again required the use of natural gas refuse trucks in its city refuse franchise and signed a corresponding term extension for Clean Energy’s fueling services. Clean Energy has signed Zero Now agreements with the four new solid waste and recycling companies serving the Town, including Alpha Carting, T&D, Total Collection and Winters Bros., for a total 22 trucks with a multi-year fueling contract for an estimated 1.3 million gallons of natural gas.
Expanded Fueling Services
Denver International Airport has signed a multi-year extended contract for an estimated 7.5 million gallons of natural gas to fuel airport ground transportation. Six airport stations provide fuel for natural gas buses, maintenance pick-up trucks and baggage tugs.
Clean Energy has signed a supply agreement with AmeriGas for an anticipated initial 1.1 million gallons of fuel which is expected to grow substantially in 2021 and beyond. AmeriGas has several customers in Mexico for industrial use purposes as pipeline gas is not readily available.
U.S. Concrete has signed a fuel agreement for 360,000 gallons of CNG at Clean Energy stations within the five boroughs of New York City to fuel 42 of its natural gas ready mix trucks.
With the assistance of federal grant funding, Jacksonville Transportation Authority (JTA) replaced eight diesel buses with new natural gas units. These additional buses will support JTA’s sustainability efforts by eliminating diesel buses that emit higher CO2 emissions. Since 2015, Clean Energy has provided fueling services to JTA, which currently consumes an estimated 1.2 million gallons of natural gas annually.
The City of Surrey, B.C., Canada, recently announced the completion and commissioning of a new natural gas station. This station, which was built and will now be operated by Clean Energy, will fuel the City’s natural gas municipal vehicle fleet using an estimated 250,000 gallons of natural gas.
Livermore Sanitation in California has signed an agreement for a station upgrade and operations and maintenance services to power its fleet of 40 natural gas trucks.
The City of Mesa, Arizona signed a multi-year contract with Clean Energy for an anticipated 800,000 gallons a year to fuel 80 refuse and other City trucks.
About Clean Energy
Clean Energy Fuels Corp. is North America’s leading provider of the cleanest fuel for the transportation market. Through its sales of Redeem™ renewable natural gas (RNG), which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and even up to 300% depending on the source of the RNG. Clean Energy can deliver Redeem through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefication facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S. For more information, visit www.CleanEnergyFuels.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about amounts of RNG expected to be consumed and the benefits of RNG. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
Clean Energy Contact:
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949-437-1397
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Sunverge’s advanced DER control and orchestration platform now supporting CIM standards-based integration with utility DMS, ADMS, EMS and ISO/RTO MMS systems
SAN FRANCISCO--(BUSINESS WIRE)--Sunverge, the provider of the industry-leading Distributed Energy Resource (DER) control and aggregation platform, today announced its platform now also supports advanced Common Information Model (CIM)-based interfaces including full integration with Distribution Management Systems (DMS), Advanced Distribution Management Systems (ADMS), Energy Management Systems (EMS), and Market Management Systems (MMS). With the support of the CIM-based standards, the Sunverge platform continues to accelerate the integration of DERs into core utility operations, enabling utilities to not only easily operate distribution level VPPs as an integrated part of their distribution system operations and automation but also easily and directly integrate with wholesale market management systems to bid DER-based ancillary services into wholesale markets.
The Sunverge Energy Platform and its advanced self-learning algorithms, built on over a decade of smart grid experience, optimizes how DERs are controlled, orchestrated and aggregated. Advanced capabilities such as real-time granular behind the meter visibility and control are becoming increasingly important as DER proliferation continues and utilities are embarking on the aggregation and integration of DERs into core operations such as distribution grid operation, automation and planning along with aggregating DERs for participation in wholesale markets for ancillary services. Sunverge’s software provides the unique ability to dynamically value stack and co-optimize multiple services on both sides of the meter, thereby offering value to the consumer while also adding value to the utility’s grid operations in addition to providing the ability to bid aggregated ancillary services such as capacity and frequency regulation in wholesale markets.
Sunverge platform now supports IEC 61850, 61968, 61970 and 52325-301 standards for integration with core utility distribution management systems as well as direct integration with Market Management Systems.
“The Sunverge platform is enabling standards-based integration with utility DMS/ADMS, EMS and ISO/RTO MMS systems to control, integrate and manage aggregated DERs,” said Martin Milani, CEO of Sunverge. “The passing of FERC order 2222 opens additional monetization streams for aggregated multi-asset and multi-service DERs, unlocking significant benefits for consumers, utilities and the environment.”
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About Sunverge Energy
Sunverge Energy provides the leading open dynamic platform for Virtual Power Plants (VPP), a grid-aware and dynamic power source built from the aggregation of behind-the-meter DERs (distributed energy resources). The Sunverge VPP platform is unique in providing dynamic co-optimization of services on both sides of the meter, helping customers with intelligent management of their own renewable energy generation and utilities with greater flexibility in managing their infrastructure investments, reducing generation costs, increasing system reliability, and meeting their renewable energy goals. Together with the Sunverge Infinity edge controller, the Sunverge VPP platform provides intelligent dynamic near real-time control over decentralized energy resources that is efficient, reliable, and responsive to utilities and their customers. For more information please visit http://www.sunverge.com/
Jared Blanton
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Karen Lee and Nathan Partain Offer Vast Experience from Multiple Industries
PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural Holding Company’s (NYSE: NWN) board of directors has elected two new board members, Karen Lee and Nathan Partain, effective January 1, 2021.
For the past 10 years, Karen Lee has served as CEO of Pioneer Human Services, a nonprofit social-enterprise business based in Seattle, which operates several for-profit businesses to help fund its social mission to assist individuals with criminal histories lead healthy and productive lives. Prior, she served as commissioner of the Washington State Employment Security Department, and held several leadership roles at Puget Sound Energy including director of Gas Operations. She also was an associate attorney at K&L Gates LLP in Seattle, and spent four years as an officer in the U.S. Army.
Lee holds a J.D. from the University of Washington School of Law. She is a graduate of the United States Military Academy at West Point, where she earned a B.S. with a concentration in Russian Studies and a minor in Engineering. She currently serves as a trustee at Western Washington University, a director at W. Lease Lewis Company, and a director of the Federal Reserve Bank of San Francisco. She is also a member of the Washington Statewide Reentry Council and the Regence Blue Shield advisory board. Lee has been named a “40 Under 40” honoree and one of “Seattle’s Women of Influence” by the Puget Sound Business Journal, and received an “Executive Excellence” award from Seattle Business Magazine.
Nathan Partain is president and co-chief investment officer of Duff & Phelps Investment Management Co. Previously, he was with Duff & Phelps Investment Research Co. where he was the director of utility, equity and fixed income research. Partain is also president, CEO and a member of the board of directors of DNP Select Income Fund Inc., Duff & Phelps Utility and Corporate Bond Trust Inc., DTF Tax-Free Income Inc., and Duff & Phelps Utility and Infrastructure Fund Inc. Prior, he held financial and regulatory positions with Gulf States Utilities Company. Partain has announced his retirement from Duff & Phelps Investment Management Co. at the end of 2020.
Partain is chairman of the board of Otter Tail Corporation. He is a National Association of Corporate Directors (NACD) board leadership fellow. He earned a BS and MBA from Sam Houston State University. Partain is a Chartered Financial Analyst (CFA) and a member of the CFA Society of Chicago.
“We’re excited to welcome Karen and Nathan to our board. Their deep industry expertise, combined with the breadth of leadership within their respective industries will strengthen our board’s collective knowledge and capabilities,” said Scott Gibson, NW Natural Holdings’ board chairman.
Lee and Partain were also elected to the board of directors of Northwest Natural Gas Company (NW Natural), the company’s wholly owned subsidiary, starting January 1, 2021.
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests and activities.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through nearly 770,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 65,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
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Sarens to provide lifting and transport services to support deployment of NuScale’s small modular reactor
PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power today announced that it has finalized an agreement with Sarens USA to support deployment of its groundbreaking small modular reactor (SMR) and provide a cash investment in NuScale.
Sarens USA, the global leader in crane rental services, heavy lifting, and engineered transport, will provide both heavy crane supply for construction as well as engineering, and transportation planning, and will be the key heavy haul provider that gets the NuScale Power Module™ from the factory to the first site. As part of the agreement, Sarens will provide a long-term investment in NuScale, signaling a growing commitment from a major global strategic player as an investment partner. NuScale’s exclusive engineering, procurement, and construction (EPC) contract partner and majority investor, Fluor Corporation, will also utilize Sarens for construction site cranes. Sarens is also positioned to provide additional support to both NuScale and Fluor.
Sarens will also be supporting NuScale Power Module™ assembly work for the development of the NuScale power plant for the Utah Associated Municipal Power Systems (UAMPS) Carbon Free Power Project (CFPP). Under the scope of the agreement, work with Sarens will begin over the next six months.
“We are proud to collaborate with and welcome investment from Sarens, yet another great global company that recognizes the value of our groundbreaking technology,” said NuScale Chairman and Chief Executive Officer John Hopkins. “Sarens’ expertise in engineering, heavy haul and heavy lifting will be invaluable as we work towards the construction phase of our first plant in Idaho and begin to build our revolutionary power plant technology. We look forward to working with them in this exciting new venture towards the commercialization of America’s first SMR.”
“We are honored to be collaborating with NuScale. Sarens firmly supports a well-diversified green energy mix for the world’s future energy demands. Our dedicated, U.S. based Sarens Nuclear & Industrial Services team draws upon many years of experience in the U.S. nuclear industry. We are confident Sarens' international footprint and experience will be instrumental in supporting NuScale’s global strategy. We thank NuScale for the trust they have shown in Sarens’ capacity to deliver this key-project,” said Wim Sarens, CEO of Sarens.
NuScale made history in August 2020 as the first small modular reactor to ever receive design approval from the U.S. Nuclear Regulatory Commission. NuScale’s innovative design has unparalleled safety and reliability features, and its modular design makes it flexible, economic, and faster to build. The fully factory-fabricated elements of NuScale’s design take safety-related fabrication work out of the field, lessening the risk to both cost and schedule, and realizing the benefits of repetitive factory fabrication.
About NuScale Power
NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—a power plant can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.
NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale’s website.
Media Contact:
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DUBLIN--(BUSINESS WIRE)--The "Digital Oilfield Market by Process, by Component - Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Oilfield Market was valued at USD 23.97 billion in 2019 and is expected to reach USD 38.90 billion by 2030, expanding at a CAGR of 4.5%, during the forecast period, from 2020 to 2030.
Digital oilfield, also known as digitization of oilfield, entails the automation of various upstream, midstream, and downstream oilfield activities. It involves advanced software and various data analysis technique that help provide better outputs and improved profitability. Digital oilfields offer various other advantages including the ease in finding oil and gas reserves, improved safety, environmental protection, and optimized production of hydrocarbons. They deploy various resources to offer efficient and cost-effective outcomes.
Market Dynamics and Trends
Improvements and modernization of activities undertaken in oil fields, technological advancements, infrastructure developments for cost-efficiency, and rising demand for crude oil from various industries are expected to drive the growth of the digital oilfield market.
Additionally, increasing investment by market players and rise in population boosting the consumption of fuel are contributing to the market growth. However, increase in cyber-attacks and data security concerns are hampering the market. Conversely, rise in collaborations among market participants, new product launches and software upgrades are expected to create opportunities in the market.
Competitive Landscape
Key players in the global digital oilfield market include Emerson Electric, General Electric, Weatherford International, Schlumberger, Halliburton, Baker Hughes, Sinopec Oilfield Service, Honeywell International, Siemens, National Oil well Varco, Pason Systems, and International Business Machines (IBM).
Key Topics Covered:
1. Introduction
1.1. Report Description
1.2. Research Methodology
2. Market Snapshot, 2019-2030 Million USD
2.1. Market Snapshot
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
5. Global Digital Oilfield Market, by Process
5.1. Overview
5.2. Reservoir Optimization
5.3. Drilling Optimization
5.4. Production Optimization
5.5. Other Process
6. Global Digital Oilfield Market, by Component
6.1. Overview
6.2. Hardware
6.3. Software
6.4. Services
7. Global Digital Oilfield Market, by Region
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ou8s83
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Oilfield Communications Market by Component, Communication Network (VSAT Communication Network, Fiber Optic-based Communication Network, Microwave Communication Network), Field Site, Application, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Oilfield Communications Market Size Grew from USD 3.4 Billion in 2020 to USD 4.5 Billion by 2025, at a Compound Annual Growth Rate (Cagr) of 5.5% During the Forecast Period
Various factors such as increasing investments in enhancing network infrastructure, growing demand from oil and gas operators to scale the production of mature oilfields, and rising technological advancements for communication across oilfields are expected to drive the adoption of the oilfield communications market.
Businesses providing oilfield communications solutions and services are expected to witness a significant decline in their growth for a short span of time. The oil and gas industry is also facing a crisis due to an oil price war. The pandemic might result in inefficient companies facing liquidity crisis situations, healthier companies diversifying their businesses and changing their business models, and companies facing the shortage of skilled workforce when the market rebounds due to layoffs during the lockdown.
The services segment to grow at a higher CAGR during the forecast period
The oilfield communications market is segmented on the basis of components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. The growth can be attributed to the growing need for oil and gas companies to save time and money during exploration, drilling, and production operations.
The microwave communication network segment to grow at the highest CAGR during the forecast period
The oilfield communications market by communication network has been segmented into VSAT communication network, TETRA network, cellular communication network, fiber optic-based communication network, and microwave communication network. The microwave communication network segment is expected to grow at a rapid pace during the forecast period. The growth can be attributed to its ability to operate without any fiber-optic infrastructure and the relative ease of setting up a wireless network.
The midstream application segment to grow at the highest CAGR during the forecast period
The oilfield communications market is segmented on the basis of application into upstream, midstream, and downstream. As onshore sites need periodic inspections to obtain early detection of events that might cause pipeline failure or create hazardous conditions, it is important to protect those pipelines from leaks and corrosion to protect the environment as well as keep the public safe from the occurrence of any hazardous condition. This leads to the adoption of oilfield communications solutions for onshore field sites.
Among field site, the offshore segment to grow at a higher CAGR during the forecast period
The oilfield communications market is segmented on the basis of field site into onshore and offshore. With the global lockdown and work-from-home practice picking up as need of the hour, companies are moving to the cloud-based infrastructure for managing and monitoring customer data and analyzing the supply chain process. There will be continuous growth in the demand for offshore infrastructure services and spending on specialized software, communications equipment, and telecom services.
Among regions, Middle East and Africa (MEA) to grow at the highest CAGR during the forecast period
MEA has witnessed the advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. The growth can be attributed to the increasing number of oil refineries and numerous exploration activities across the region.
The report includes the study of key players offering oilfield communications solutions and services. It profiles major vendors in the global oilfield communications market.
The major vendors in the global oilfield communications market are Huawei (China), Siemens (Germany), Hitachi ABB Power Grids (Switzerland), Speedcast (Australia), Weatherford (US), Ceragon (US), RigNet (US), Hughes (US), Redline Communications (Canada), MR Control Systems (Canada), Tait Communications (New Zealand), Honeywell (US), Intel (US), GE Digital (US), PTC (US), Commtel (India), MoStar Communications (US), DAMM Cellular Systems (Denmark), BlueJeans (US), Nesh (US), Sensia (US), Ondaka (US), Sensalytx (UK), and WellAware (US).
For more information about this report visit https://www.researchandmarkets.com/r/fxjs4m
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After successful deployment with a Fortune 100 customer, ClearTrace to scale adoption of its financial technology and enhanced carbon accounting platform
AUSTIN, Texas--(BUSINESS WIRE)--ClearTrace, a software company that provides automated energy and carbon accounting for investors, enterprises, and real estate owners, announced today it has raised $4 million in Series A financing, led by Clean Energy Ventures, a venture capital firm focused on early-stage climate tech innovations. Brookfield Renewable Partners and Clean Energy Venture Group also participated in the round.
ClearTrace’s carbon accounting platform brings transparency to corporate carbon reduction by enabling auditable, around-the-clock monitoring of energy generation and consumption. ClearTrace creates verifiable digital records of energy usage and can track third party energy supply, financial power purchase agreements, demand response activities, and true multi-stakeholder management of behind-the-meter energy assets. ClearTrace uses best-in-class cloud technology to digitize the entire energy supply chain and deliver granular, high fidelity, real-time carbon impact data from energy-related activities.
“Companies of all sizes are seeking to reduce their carbon impact due to new regulations and increasingly intense advocacy from employees, customers and investors. Yet, a key challenge for these companies is the ability to truly verify, validate and account for their overall environmental and carbon footprint,” said Daniel Goldman, Managing Director and Co-founder at Clean Energy Ventures. “A high degree of accountability and reporting is essential as companies work to decarbonize to help solve the climate crisis. ClearTrace has built the premier, auditable carbon and energy reporting platform, and we’re eager to support its further growth to enable more companies to track and reduce their carbon footprint.”
ClearTrace has a growing customer base and is targeting multinational corporations, financial service companies, real estate holding companies and competitive energy suppliers who can use this technology to verify and prove the attributes of the energy they both generate and consume.
“ClearTrace is looking to fundamentally change how energy and environmental information is managed and to do away with the disparate, siloed and archaic incumbent processes that dominate the market. Our goal is to accelerate the decarbonization of human activity and increase the adoption of sustainable and renewable energy through a technology platform that is fully automated, immutable and verifiable,” said Lincoln Payton, CEO at ClearTrace. “We have built the energy data system for the future. No other platform today has created the full scope of energy and technology solutions that we provide, allowing leading global organizations like JPMorgan Chase and Brookfield Renewable to digitally track energy data from generation to consumption in a way that can be easily understood and audited by regulators, investors and other stakeholders.”
ClearTrace will use the funding to accelerate growth and deploy additional market-driven solutions to a broad base of enterprises and asset managers who require high-speed, digital data to meet their sustainability targets.
ClearTrace, formerly known as swytchX, recently undertook a rebrand to represent this new phase of growth and accelerate market adoption. Previous investors include the company’s founders and the Fund for Sustainability and Energy (Fund4SE), a Singapore-based sustainability investment fund.
About ClearTrace
ClearTrace is an energy, data and technology company streaming secure energy data to the world of energy management, ESG reporting, and corporate sustainability. ClearTrace’s digital assets represent the purest form of proof and immutability for the real world impact of energy generation. ClearTrace allows companies to stand behind their claims of carbon reductions, sustainability, and renewable energy to prevent greenwashing and provide a source of truth for corporate decarbonization. For more information, please visit cleartrace.io or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Clean Energy Ventures
Clean Energy Ventures is a venture capital firm investing in early-stage advanced energy technologies and business model innovations that are ready to address global climate risks. The firm's principals – serial entrepreneurs and investors who have backed more than 30 companies – have been investing in, supporting, and mentoring early-stage climate tech startups together since 2005. Learn more at cleanenergyventures.com.
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Successful remote go-live at TOTE’s Jacksonville terminal represents the first hosted deployment of Tideworks’ latest TOS solution
SEATTLE--(BUSINESS WIRE)--Tideworks Technology® Inc. (Tideworks), a full-service provider of comprehensive terminal operating system (TOS) solutions, today announced the go-live of its new marine solution, Mainsail 10 with TOTE, LLC (TOTE) at its Jacksonville terminal. The go-live is Tideworks’ first cloud-based deployment of Mainsail 10 and marks another successful remote implementation of its solutions. The company will continue offering remote deployments to provide terminal operators with next-generation TOS solutions that facilitate resurgence of the shipping industry during the COVID-19 pandemic.
Tideworks engineered Mainsail 10 to provide terminal operators with increased flexibility. The new TOS is a high performing management tool that supports seamless integrations with third-party systems, and the ability to scale to adapt to changing operational needs. The marine TOS provides rapid access to and management of real-time data to improve decision making and increase the flow of cargo through the terminal, while also reducing costs.
“The successful go-live of Mainsail 10 at TOTE Jacksonville is an exciting milestone,” said Thomas Rucker, president of Tideworks. “We recognize the importance of TOTE providing its terminals with a flexible, intelligent TOS that will help accelerate growth and productivity at Jacksonville, while also increasing collaboration across the shipping industry.”
TOTE Jacksonville is the first TOTE terminal to deploy Mainsail 10. The TOS is being hosted and supported in the Tideworks Cloud. Tideworks’ integration of Mainsail 10 at the Jacksonville terminal replaced Mainsail Vanguard that TOTE implemented in late 2015. The Jacksonville terminal is also utilizing Tideworks Spinnaker Planning Management System® and Traffic Control™.
TOTE has deployed a variety of Tideworks’ highly configurable and customizable solutions, which allow TOTE terminals to quickly tailor interfaces as needed and integrate the new Mainsail 10 TOS with its existing systems. Based on the success of Mainsail 10, TOTE has begun steps to roll out the new TOS at other terminal locations.
Tideworks provided implementation services for the go-live at Jacksonville on a fully remote basis. This included project management, software configuration and installation, integration services, user training and go-live assistance. Tideworks will continue to offer TOTE ongoing maintenance and support services, which include 24/7 technical support and software upgrades.
Mainsail 10 went live at TOTE Jacksonville in September 2020. TOTE plans to go-live with Mainsail 10 at its terminal in Tacoma, Washington in 2021 and its terminal in Anchorage, Alaska in 2022.
About TOTE
TOTE, LLC’s family of companies includes leading transportation and logistics companies. TOTE Maritime Alaska, LLC and TOTE Maritime Puerto Rico, LLC bring unmatched reliability and service to their respective markets. TOTE Services, LLC offers crewing and technical services to meet the needs of commercial, privately owned and U.S. Government vessels. TOTE, LLC is part of the Saltchuk portfolio of companies. www.toteinc.com.
About Tideworks Technology
Tideworks is a full-service provider of comprehensive terminal operating system solutions for growing marine and intermodal terminal operations worldwide. The company helps more than 120 facilities run their operations more efficiently and profitably. From optimized equipment utilization to faster turn times, Tideworks works at every step of terminal operations to maximize productivity and customer service. For more information about Tideworks Technology, a Carrix solution, visit www.tideworks.com.
AnnMarie Carson
Communiqué PR for Tideworks Technology
206-282-4923 x119
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DUBLIN--(BUSINESS WIRE)--The "Refining Industry Outlook in Africa to 2024 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries" report has been added to ResearchAndMarkets.com's offering.
The total refining capacity of Africa in 2019 was 3,712 mbd. The refining capacity in Africa increased from 3,498 thousand barrels of oil per day (mbd) in 2014 to 3,712 mbd in 2019 at an AAGR of 1.2 percent. It is expected to increase from 3,712 mbd in 2019 to 5,766 mbd in 2024 at an AAGR of 8.8 percent. Egypt, Algeria, South Africa, Nigeria, and Libya are the key countries in Africa accounting for over 78.3 percent of the total refining capacity of the region in 2019.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
2. Africa Refining Industry
2.1. Africa Refining Industry, Overview of Active Refineries Data
2.2. Africa Refining Industry, Total Refining Capacity
2.3. Africa Refining Industry, Overview of New-Build and Expansion Projects
2.4. Africa Refining Industry, New-Build and Expansion Projects
2.5. Africa Refining Industry, New Units and Capacity Expansions by Key Countries
3. Refining Industry in Egypt
3.1. Refining Industry in Egypt, Crude Distillation Unit Capacity, 2014-2024
3.2. Refining Industry in Egypt, Coking Unit Capacity, 2014-2024
3.3. Refining Industry in Egypt, Catalytic Cracker Unit Capacity, 2014-2024
3.4. Refining Industry in Egypt, Hydrocracking Unit Capacity, 2014-2024
3.5. Recent Developments
3.6. Recent Contracts
4. Refining Industry in Algeria
4.1. Refining Industry in Algeria, Crude Distillation Unit Capacity, 2014-2024
4.2. Refining Industry in Algeria, Condensate Splitter Unit Capacity, 2014-2024
4.3. Refining Industry in Algeria, Catalytic Cracker Unit Capacity, 2014-2024
4.4. Refining Industry in Algeria, Hydrocracking Unit Capacity, 2014-2024
4.5. Recent Developments
4.6. Recent Contracts
5. Refining Industry in South Africa
6. Refining Industry in Nigeria
7. Refining Industry in Libya
8. Refining Industry in Morocco
9. Refining Industry in Sudan
10. Refining Industry in Cote d'Ivoire
11. Refining Industry in Angola
12. Refining Industry in Cameroon
13. Refining Industry in Ghana
14. Refining Industry in Djibouti
15. Refining Industry in Tunisia
16. Refining Industry in Senegal
17. Refining Industry in Gabon
18. Refining Industry in the Congo Republic
19. Refining Industry in Equatorial Guinea
20. Refining Industry in Niger
21. Refining Industry in Chad
22. Refining Industry in Zimbabwe
23. Refining Industry in South Sudan
24. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/c6ol1r
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For U.S./CAN Toll Free Call 1-800-526-8630
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DUBLIN--(BUSINESS WIRE)--The "Thermic Fluids - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 6th edition of this report. The 196-page 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.
Global Thermic Fluids Market to Reach $4.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Thermic Fluids estimated at US$2.9 Billion in the year 2020, is projected to reach a revised size of US$4.1 Billion by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027.
Silicone and Aromatic Based Thermic Fluid, one of the segments analyzed in the report, is projected to record a 4.5% CAGR and reach US$1.9 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 Mineral Oils Based Thermic Fluid segment is readjusted to a revised 5.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $852.4 Million, While China is Forecast to Grow at 4.8% CAGR
The Thermic Fluids market in the U.S. is estimated at US$852.4 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$723.7 Million by the year 2027 trailing a CAGR of 4.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.
Glycol (Ethylene and Propylene) Based Thermic Fluid) Segment to Record 5.9% CAGR
In the global Glycol(Ethylene and Propylene) Based Thermic Fluid) segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$580.4 Million in the year 2020 will reach a projected size of US$869.5 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$470.7 Million by the year 2027.
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
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ogg4w2
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
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