BOSTON--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, today announced that it has signed a six megawatt data center pre-lease expansion with a U.S. based Fortune 100 customer in Phoenix, Arizona, at its AZP-2 data center. Iron Mountain announced the initial six megawatt deal with this customer in September 2020. The AZP-2 data center supports the growth demands, network proximity and scalable capacity needs of the customer. The lease is expected to commence in the third quarter of 2021.
Iron Mountain’s hyperscale-ready AZP-2 data center is part of a 40-acre, 3-data center, metro-connected campus within several miles of east downtown Phoenix. The facility, spanning more than 530,000 gross square feet, meets dedicated requirements of up to 48 megawatts of total IT capacity at full build out.
AZP-2 360 Virtual Tour movie file: https://www.youtube.com/watch?v=64nWakTX8kU
AZP-2 is connected to Iron Mountain's existing data centers - AZP-1 in Phoenix and AZS-1 in Scottsdale - that supports 47 megawatts and a robust network ecosystem.
Like all Iron Mountain data centers, AZP-2 is powered by 100% renewable energy and offers customers access to Green Power Pass. The Green Power pass enables data center users to reduce their reportable greenhouse gas emissions and meet their public green power and/or carbon reduction goals. Iron Mountain Data Centers also adhere to one the most comprehensive compliance programs in the industry including enterprise-wide certified ISO 14001 and 50001 environmental and energy management systems.
“We strive to support the growth and expansion needs of our strategic customers as well as our retail enterprise clients and this new deployment at our Phoenix data center campus validates that goal,” said Rick Crutchley, Vice President & General Manager, North America at Iron Mountain Data Centers. “We continue to see strong demand in the Phoenix market and are pleased that we are able to differentiate our solution offerings, including our compliance and sustainability certifications, which enable us to partner with prestigious global customers.”
Additional highlights of the Phoenix data center campus include:
Iron Mountain's global data center platform consists of 15 operational facilities across 13 markets and three continents. Including leasable capacity and land and buildings held for future development, Iron Mountain's data center platform can support more than 375 megawatts of IT capacity at full build-out. For more information on Iron Mountain Data Centers, visit https://www.ironmountain.com/digital-transformation/data-centers.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.
Forward Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not, limited to statements concerning the commencement of the lease and datacenter capacity at full buildout. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations.
These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. Important factors that could cause actual results to differ from expectations include (i) the impact of the COVID-19 outbreak on our business, operations and financial condition, (ii) our ability to remain qualified for taxation as a real estate investment trust for U.S. federal income tax purposes; (iii) the adoption of alternative technologies and shifts by our customers to storage of data through non-paper based technologies; (iv) changes in customer preferences and demand for our storage and information management services; (v) the cost and our ability to comply with laws, regulations and customer demands relating to data security and privacy issues, as well as fire and safety standards; (vi) our ability or inability to execute our strategic growth plan, expand internationally, complete acquisitions on satisfactory terms, and to integrate acquired companies efficiently; (vii) changes in the amount of our growth and recurring capital expenditures and our ability to raise capital and invest according to plan; (viii) the impact of litigation or disputes that may arise in connection with incidents in which we fail to protect our customers' information or our internal records or IT systems and the impact of such incidents on our reputation and ability to compete; (ix) our ability to execute on Project Summit and the potential impacts of Project Summit on our ability to retain and recruit employees and execute on our strategy (x) changes in the price for our storage and information management services relative to the cost of providing such storage and information management services; (xi) changes in the political and economic environments in the countries in which our international subsidiaries operate and changes in the global political climate; (xii) the impact of executing on our growth strategy through joint ventures; (xii) our ability to comply with our existing debt obligations and restrictions in our debt instruments or to obtain additional financing to meet our working capital needs; (xiv) the impact of service interruptions or equipment damage and the cost of power on our data center operations; (xv) changes in the cost of our debt; (xvi) the impact of alternative, more attractive investments on dividends; (xvii) the cost or potential liabilities associated with real estate necessary for our business; (xviii) the performance of business partners upon whom we depend for technical assistance or management expertise; (xix) other trends in competitive or economic conditions affecting our financial condition or results of operations not presently contemplated; and (xx) other risks described more fully in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our periodic reports or incorporated therein. You should not rely upon forward-looking statements except as statements of our present intentions and of our present expectations, which may or may not occur. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contacts:
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LONDON--(BUSINESS WIRE)--#marketresearch--Price fluctuations have increased substantially in the US oil and gas industry over recent years and significantly impacted revenue changes. Additionally, there has been a shortage of petroleum and crude oil in the US oil and gas industry, which has led to an increased dependence on importing. These challenges, coupled with price hikes, inadequate oil refining capacity, and lack of market-determined pricing systems, have created various challenges for industry players. Therefore, industry leaders are shifted focus to identifying potential risks and uncertainties and embracing new growth opportunities. Infiniti’s market research solutions help US oil and gas industry clients identify the optimal profitable growth opportunities, mitigate potential risks, and realize huge operating costs savings.
To leverage Infiniti’s market research solutions for the US oil and gas industry and reduce the impact of price fluctuations, raw material shortages, and inadequate refining capacity on your organization, request a free proposal.
“Shortage of petroleum and crude oil, increasing dependency on foreign countries, price hikes, inadequate oil refining capacity, and lack of market-determined pricing systems are increasing challenges for companies operating in the oil and gas industry,” says an oil and gas industry expert at Infiniti Research.
Business Challenge:
The client, an oil and gas company headquartered in the United States, was overly dependent on imported crude oil due to the shortage of petroleum and crude oil, which increased its demand-supply gap. Additionally, the client sought to expand their oil refineries and establish new refineries under the joint sector due to the added oil refining capacity shortage. They also wanted to gain a comprehensive understanding of the US oil and gas market landscape, identify competitors' strategies and profitable growth opportunities. Therefore, the US oil and gas industry client partnered with Infiniti Research and leveraged our expertise in offering market research solutions. During the seven-week engagement, the client also sought to reduce dependency on importing, explore new reserves, and develop an improved pricing system.
Our Approach:
To assist the US oil and gas industry client, Infiniti’s market research experts developed a four-phased approach that included the following:
Speak to industry experts to understand the role of market research solutions in the challenging US oil and gas industry, and learn how companies tackle potential challenges, identify profitable growth opportunities, and increase operational efficiency.
Business Outcome:
With Infiniti’s market research solution, the US oil and gas industry client efficiently addressed the demand-supply gap and utilized their total production capacity. The client also identified the lowest export duties and gained a complete understanding of and adapted to factors impacting price fluctuations in the US oil and gas industry client. Additionally, the US oil and gas industry client identified profitable markets for expansion, expanded their existing refineries, and set up new refineries. Lastly, our market research solution enabled the client to achieve over 24% of operating cost savings.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
DUBLIN--(BUSINESS WIRE)--The "Global Edible Oil Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global edible oil market is estimated to grow at a CAGR of 3.57% from a market value of USD96.878 billion in 2019 to attain a market value of USD119.571 billion by the end of 2025.
According to the OECD-FAO Agricultural Outlook 2019-2028 statistics, it is estimated that the per capita vegetable oil consumption is predicted to grow by 0.9% per annum. This is comparatively lower than the 2.0% per annum growth observed during the time period 2009-2018. Developing regions of the world are predicted to contribute to increasing the market growth for vegetable oil during the forecast period. In China, the consumption of vegetable oil is predicted to be around 30 kg per capita, and for Brazil, it is estimated to be around 24 kg per capita. For developing nations, the per capita consumption of vegetable oil is assumed to reach 27 kg with a growth rate of 0.4% per annum.
After China, India is the second-largest consumer and is ranked as the number one importer of vegetable oil at the international level. The country is projected to maintain the high per capita vegetable oil consumption with a growth rate of 3.1% per annum. It is further projected to achieve 15 kg per capita consumption by the end of 2028. The substantial growth is attributed to the expanding domestic production in the country and growth of imports specifically palm oil from Indonesia and Malaysia.
For the Least Developed Countries (LDCs), the per capita availability of edible oil is projected to surge by 1.2 per annum and is further estimated to attain 10 kg per capita in 2028. The utilization of vegetable oil for biodiesel production will however remain unchanged for the next ten years which was recorded as 8.5% per annum growth for the past 10 years when biofuel support policies were starting to apply.
The global production of vegetable oil is dependent on the crushing of oilseeds and the production of perennial tropical oil plants, particularly, palm oil. It is noticed that the global palm oil production has exceeded the production of other edible oils in the last ten years.
It is further projected that this production rate is going to decline over the forecast period. Maximum palm oil production is concentrated in Malaysia and Indonesia, together accounting for over one-third of the total vegetable oil production in the world. The production is projected to increase by 1.8% per annum over the forecast period in Indonesia, which is very less in comparison to 6.9% per annum in the last decade.
The slow growth is attributed to the surging strict environmental policies from the major importers of palm oil, in addition to the sustainable agricultural norms. Hence, with this, the expansion of the palm oil area is predicted to be slowed down in Malaysia and Indonesia. It is further analyzed that in order to enhance the growth of palm oil production, certain productivity improvements are required, which include the escalation of replanting activities in these regions.
In the other regions of the world, palm oil production is projected to grow at a fast pace from a lower base mainly for utilization in the local and regional markets. For instance, in Thailand the palm oil production is assumed to be around 2.9 Mt by the end 2028, in Colombia, the production is expected to reach 2.0 Mt by the end of 2028, and in Nigeria, the production is projected to achieve a size of 1.2 Mt. by 2028. At the international level, the palm oil supply is estimated to grow at an annual growth rate of 1.8% over the time period 2019-2028 (source: OECD-FAO).
Due to the current novel coronavirus infection outbreak, the edible oil refineries have experienced a downfall in their operating capacity to around 50%. This is mainly attributed to the deficiency of raw materials along with delays in the import clearance. The decrease in the operating capacity is also related to the lockdown measures that resulted in the delayed harvesting of certain oilseeds, for instance, mustard seeds in India.
However, with due precautions and in order to satiate the essential need of edible oil for cooking purposes in households, manufacturing units are operating with around 40-50% of their installed capacity at present.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.5. Industry Value Chain Analysis
5. Global Edible oil Market Analysis, by Product Type
5.1. Introduction
5.2. Coconut Oil
5.3. Sunflower Oil
5.4. Soybean Oil
5.5. Groundnut Oil
5.6. Mustard Oil
5.7. Others
6. Global Edible oil Market Analysis, by End-User
6.1. Introduction
6.2. Household
6.3. Commercial
6.4. Industrial
7. Global Edible oil Market Analysis, by Distribution Channel
7.1. Introduction
7.2. Online
7.3. Offline
8. Global Edible oil Market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Archer-Daniels-Midland Company
10.2. Adani Group
10.3. Cargill, Incorporated
10.4. Paras Group
10.5. Ngo Chew Hong Edible Oil Pte Ltd
10.6. ACH Food Companies, Inc.
10.7. Bunge
For more information about this report visit https://www.researchandmarkets.com/r/3sxpe0
ResearchAndMarkets.com
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Gears Up for a Sustainable, Post-Pandemic Hybrid Workplace
BELMONT, Calif.--(BUSINESS WIRE)--#RingCentral--RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced that Pinnacle Renewable Energy (TSX: PL), an industrial wood pellet manufacturer and distributor, has adopted RingCentral Office®, a unified communications solution that includes team messaging, video meetings and a cloud phone system to enable a sustainable, employee-centric remote working environment for today and the future.
Pinnacle Renewable Energy is one of the world’s leading manufacturers and distributors of industrial wood pellets. The company produces sustainable fuel for renewable electricity generation, delivering a greener alternative for large-scale thermal power generators. With multiple remote locations across the U.S. and Canada, Pinnacle needed a communications platform that is flexible, reliable and available regardless of the limitations in phone services at its geographical locations. With the result of the COVID-19 global pandemic, the need to adopt a work from anywhere environment enhanced the necessity further. With RingCentral’s unified communications capabilities, Pinnacle was able to modernize their business communications infrastructure and maintain a high level of productivity among employees.
“When we shifted to a complete remote work environment, we were able to seamlessly transition from our old legacy on-premise phone system to RingCentral with zero interruption to employee productivity,” said Neil Lertnamvongwan, Information Technology Director at Pinnacle. “We’ve also cut our communications systems costs by nearly 40 percent with the mobile-first unified communications solution. The ability to make voice and video calls from anywhere, on any device and easily switch modes has allowed us to operate more efficiently than ever before. Simultaneously, we’ve been able to reduce waste by eliminating our desktop phones, which delivers on our mission of continued sustainability.”
Key benefits to Pinnacle of switching to RingCentral include:
“We’re proud to work with Pinnacle to build their workplace of the future, balancing employee productivity and their deep commitment to sustainability,” said Will Moxley, chief product officer at RingCentral. “We’re inspired by the success Pinnacle has achieved, especially during these uncertain times. It speaks to our core mission of delivering a seamless communications experience for our customers, as they navigate the new norm of working from anywhere.”
About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP™), customer engagement, and contact center solutions for businesses worldwide. More flexible and cost-effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral’s open platform integrates with leading third-party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.
© 2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Office, RingCentral Video, Message Video Phone, MVP and the RingCentral logo are trademarks of RingCentral, Inc.
Media Contact
Lela Gradman
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Sends Letter to ExxonMobil Board Outlining Need for Directors with Diversified Energy Experience, Greater Capital Allocation Discipline, Strategic Plan for Sustainable Value Creation, and Better Shareholder-Aligned Management Incentives
Believes Oil & Gas Industry is in Transition and ExxonMobil Must Evolve to Protect and Enhance Long-Term Value for Shareholders
SAN FRANCISCO--(BUSINESS WIRE)--Engine No. 1, a new investment firm that seeks to enhance long-term value through active ownership, today announced its intention to nominate four highly qualified, independent director candidates to the Exxon Mobil Corporation (NYSE: XOM) (“ExxonMobil” or the “Company”) Board of Directors (the “Board”) in connection with the 2021 Annual Meeting of Shareholders.
The California State Teachers’ Retirement System (“CalSTRS”), the nation’s second largest pension fund and owner of over $300 million in value of the Company’s stock, today is announcing its support for Engine No. 1’s director candidates.
In a letter sent today to the Board, Engine No. 1 outlined the case for much-needed change at ExxonMobil and a proposed path forward to protect and enhance long-term value for the Company’s shareholders.
Engine No. 1’s plan to reenergize ExxonMobil includes:
In its letter, Engine No. 1 stated, “We believe that for ExxonMobil to avoid the fate of other once-iconic American companies, it must better position itself for long-term, sustainable value creation. Doing so will not be easy and will require a board with a diversified level of insight into the evolving trends, technologies, markets, and policies shaping the future of the industry, yet none of ExxonMobil’s independent directors have any other energy industry experience. This is not a criticism of any director, each of whom is highly accomplished and respected, including by us. It is instead an acknowledgement of the unique challenges facing ExxonMobil and the industry.”
Christopher Ailman, Chief Investment Officer of CalSTRS, stated, “It is time to demand change at ExxonMobil. CalSTRS’ stewardship activities date back over 30 years and reflect our focus on influencing long-term value creation. We intend to use our vote as an active shareholder to support Engine No. 1’s slate of directors because a change at the top is necessary to reposition this Company to be successful for the long-term.”
Engine No. 1’s Director Candidates include:
The full text of the letter is available here.
Additional information regarding Engine No. 1’s plan to reenergize ExxonMobil may be found at www.ReenergizeXOM.com.
About Engine No. 1
Engine No. 1 is an investment firm purpose-built to create long-term value by driving positive impact through active ownership. For more information, please visit: www.Engine1.com.
Important Information
Engine No. 1 LLC, Engine No. 1 LP, Christopher James, Charles Penner (collectively, “Engine”), Gregory J. Goff, Kaisa Hietala, Alexander Karsner, and Anders Runevad (collectively and together with Engine, the “Participants”) intend to file with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement and accompanying form of WHITE proxy to be used in connection with the solicitation of proxies from the shareholders of Exxon Mobil Corporation (the “Company”). All shareholders of the Company are advised to read the definitive proxy statement and other documents related to the solicitation of proxies by the Participants when they become available, as they will contain important information, including additional information related to the Participants. The definitive proxy statement and an accompanying WHITE proxy card will be furnished to some or all of the Company’s shareholders and will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov/.
Information about the Participants and a description of their direct or indirect interests by security holdings will be contained in a Schedule 14A filed by the Participants with the SEC. This document will be available free of charge from the source indicated above. For information about CalSTRS and its interests in the Company, the Participants refer stockholders to CalSTRS and its public filings on the SEC website at http://www.sec.gov.
Disclaimer
This material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in this press release and the material contained herein that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different. Certain information included in this material is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this material in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. All figures are unaudited estimates and subject to revision without notice. Engine disclaims any obligation to update the information herein and reserves the right to change any of its opinions expressed herein at any time as it deems appropriate. Past performance is not indicative of future results. Engine has neither sought nor obtained the consent from any third party to use any statements or information contained herein that have been obtained or derived from statements made or published by such third parties. Except as otherwise expressly stated herein, any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein.
Media Contacts
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Investor Contacts:
Innisfree M&A Incorporated
Scott Winter/Gabrielle Wolf
212-750-5833
LONDON--(BUSINESS WIRE)--#oilandgasindustry--Developing and maintaining a strong, sustainable, and secure oil and gas supply chain is crucial for the growth of the oil and gas industry. However, to achieve this, companies need to adopt efficient and comprehensive strategies, identify challenges and address them and employ data-driven insights in their decision-making. Infiniti’s experts help oil and gas companies develop and implement cost-reducing, collaborative, novel, and innovative strategies to improve the oil and gas supply chain. To leverage data-driven and in-depth insights from Infiniti’s experts and help growth in the oil and gas supply chain, request a free proposal.
Fluctuating prices, the shortage of crude oil and petroleum, changing perspectives toward fossil fuels, and supply chain complexities have substantially faltered the global oil and gas supply chain's growth. Oil and gas companies search for effective and sustainable strategies to address these challenges and build a resilient oil and gas supply chain. Developing a comprehensive understanding of the factors impacting the supply chain and identifying the ideal points to address recovery and growth in the oil and gas industry is crucial to propelling growth. Therefore, Infiniti’s experts have highlighted the ideal strategies to change the oil and gas supply chain's current state and help companies adapt to the changing environment.
Unsure of the next step for the suffering oil and gas supply chain? To learn how the right strategies and actionable insights can transform your business and propel growth, request more information.
“The growth of oil and gas supply chain companies has been showing a trend of steady decline over the past couple of years. As the supply chain spending by operators has been cut back due to crumbling crude prices, the Oil Field Services and Equipment companies (OFSE) have been losing business,” says an oil and gas industry expert at Infiniti Research.
Infiniti’s experts identified the following four strategies for companies to implement and recover the global oil and gas supply chain:
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
WARRENVILLE, Ill.--(BUSINESS WIRE)--Fuel Tech, Inc. (NASDAQ: FTEK) (or “the Company”), a technology company providing advanced engineering solutions for the optimization of combustion systems, emissions control and water treatment in utility and industrial applications, today announced that it received a letter from the Listing Qualifications Department of the NASDAQ Stock Market (“NASDAQ”) notifying the Company that it has regained compliance with the NASDAQ Capital Market's minimum bid price continued listing requirement set forth in Rule 5450(a)(1). Accordingly, NASDAQ considers this matter closed.
About Fuel Tech
Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been in installed on over 1,200 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI™ Dissolved Gas Infusion Systems which utilize a patented nozzle to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech’s web site at www.ftek.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, those discussed in Fuel Tech’s Annual Report on Form 10-K in Item 1A under the caption “Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech’s actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.
Vince Arnone
President and CEO
(630) 845-4500
Devin Sullivan
Senior Vice President
The Equity Group Inc.
(212) 836-9608
COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE Solutions” or “GSE”) (Nasdaq: GVP), a leader in delivering and supporting end-to-end training, engineering, compliance, simulation, and workforce solutions to the power and process industry, today announced a multi-year subscription of its EnVision On-Demand software by a global manufacturer of transportation fuels and petrochemical products.
EnVision is a cloud-based Software as a Service (SaaS) workforce development solution that combines computer-based tutorials with high-fidelity simulation models allowing customers to conduct critical training anytime, anywhere.
This three-year subscription contract allows the customer’s users to access ten different modules of the EnVision library, including simulations and tutorials for various process fundamentals as well as Sulfuric Alkylation, Amine Treating, Fluid Catalytic Cracking, and Sulfur Recovery. EnVision’s rich learning environment was designed using core training fundamentals, custom testing and select content modules that support customers critical operational and safety strategies.
“This is an important solution for our customer and a gratifying win for GSE,” said Kyle Loudermilk, President and CEO of GSE Solutions. “This opportunity proves that critical workforce development and operational training can and must continue even during a global pandemic. As a SaaS solution, EnVision ensures that our customers have comprehensive virtual simulation and training that can be more effective than traditional methods of in-person training.”
EnVision teaches the fundamentals of unit operations to plant operators, engineers and management in the downstream and midstream oil and gas, process, and power industries. Students’ progress at their own pace, using a structured approach, from a very fundamental understanding of equipment and system processes to more advanced concepts.
“EnVision’s intuitive e-learning tutorials and dynamic simulations were developed to improve situational awareness and safety skills that produce the highest skilled operators in the industry,” said Gill Grady, Senior Vice President of Corporate Business Development at GSE Solutions.
GSE Solutions supports operational excellence in the power and process industries through simulation, modeling and on-demand learning. GSE Solutions has more simulation installations than any other company in the world, with experience and deep subject-matter expertise that is reflected in EnVision and other top training solutions.
While significant, the terms of the deal have not been publicly released.
ABOUT GSE SOLUTIONS
We are the future of operational excellence in the power industry. As a collective group, GSE Solutions leverages top skills, expertise and technology to provide highly specialized solutions that allow customers to achieve the performance they imagine. Our experts deliver and support end-to-end training, engineering, compliance, simulation, and workforce solutions that help the power industry reduce risk and optimize plant operations. GSE is proven, with over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. www.gses.com
Sunny DeMattio, GSE Solutions
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CALGARY, Alberta--(BUSINESS WIRE)--GLJ is pleased to announce the release of GLJ IntelliCasts™, a subscription product that offers rapid insight into oil and gas asset valuation. Powered by a mix of machine learning, modern decline analytics and five decades of play knowledge, this is indispensable well-level insight for producers, debt & equity stakeholders and mid-streamers alike. With ongoing industry consolidation, GLJ IntelliCasts™ gives subscribers an edge in benchmarking, validating and assessing opportunities.
“The high-quality nature of this data arms our partners with the insight they need to make better business decisions faster”, remarks Jodi Anhorn, M.Sc., P.Eng., President and Chief Executive Officer of GLJ. “GLJ IntelliCasts™ is an exciting digital addition to our evolving offering of products and services, one that meaningfully moves the dial for industry towards trusted automation of forecasts with uncertainty handled reliably.”
GLJ IntelliCasts™ ready-to-use forecasts are rooted in reservoir engineering fundamentals and elevated by GLJ’s comprehensive play knowledge. Alongside forecasts for wellhead products, IntelliCasts offers forecasts for natural gas liquids (NGLs) and compensates for underreported field liquids. This allows subscribers to take their evaluation level from superficial to detailed with massive time savings. Akin to having a hyper-powered engineer in your pocket, GLJ IntelliCasts™ helps clients compensate for mounting industry pressures.
This Canadian module of GLJ IntelliCasts™ includes coverage of the Western Canadian Sedimentary Basin. For more information about GLJ and this product, including future modules for the United States and Latin America, please visit https://www.gljpc.com/glj-intellicasts.
About GLJ
GLJ Ltd. is a leading energy consulting firm. With comprehensive industry expertise and a client-focused philosophy, GLJ provides technical excellence to a global client base. The company’s long-term record of success comes from an experienced team of professionals who have an absolute commitment to delivering high-quality results for their clients. For more information, visit https://www.gljpc.com/
Trevor Rix
P.Eng., Manager, Digital Innovation
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403-266-9558
Approximately 8,500 customers who would have been affected by the Public Safety Power Shutoff are receiving notifications this morning that their power won’t be turned off
SAN FRANCISCO--(BUSINESS WIRE)--Based on more favorable weather conditions, Pacific Gas and Electric Company (PG&E) will be notifying customers this morning that it will not be initiating a Public Safety Power Shutoff (PSPS) today.
PG&E anticipated the need to turn off power overnight to approximately 8,500 customers in portions of Fresno, Madera, Mariposa, Tulare and Tuolumne counties.
After monitoring weather conditions throughout the night, the company’s Emergency Operations Center determined that conditions would not warrant initiating a PSPS.
PG&E monitors for the combination of strong winds coupled with dry air and dry fuel conditions when considering whether to call a PSPS. During the overnight hours, winds didn’t strengthen in the lower elevations and relative humidity observations did not reach critical values.
Ultimately, the decision was made to cancel the PSPS. Customers will receive notifications shortly that their power will not be turned off.
The scope of this potential event has decreased steadily through the weekend. PG&E sent notifications to about 130,000 customers in 16 counties on Friday evening that the company was monitoring a forecast of severe weather. By Saturday, the number of customers potentially affected by this PSPS had been reduced to 92,000, and on Sunday, the number decreased further to about 8,500 customers.
PG&E appreciates the patience of our customers. A PSPS is only initiated as a last resort for public safety. Customers are strongly encouraged to update their contact information and indicate their preferred language for notifications by visiting www.pge.com/mywildfirealerts or by calling 1-800-743-5000, where in-language support is available.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
Media Relations:
415-973-5930
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Bahia Corinthian Yacht Club (BCYC) is pleased to announce that its membership and Board of Directors have chosen long-time member and current Vice Commodore, Rhonda Tolar, as their 2021 Commodore.
Tolar’s upcoming tenure continues a unique, perhaps unprecedented time at BCYC, and other Southern California yacht clubs (and beyond) when it comes to traditional yacht club leadership. Tolar will be the sixth female Commodore in BCYC’s 62-year history.
An active member of BCYC since 1999, in her new role, Commodore Tolar will act as the chief executive officer of the Club (on both land and water) subject to the control of the Board of Directors, and will be responsible for the overall general supervision, direction and control of the business and Officers of the Club.
“Preserving and enhancing BCYC’s mission and purpose is my top priority,” says Tolar. “We are like a family here, and I will strive to make decisions that reinforce BCYC’s long-standing reputation as the ‘friendliest club on the bay.’”
“I am greatly honored by the vote of confidence our membership and its Directors has extended, and thanks to the great leadership of outgoing Commodore Ginny Lombardi, the transition of power is moving forward smoothly and inclusively.”
Tolar emphasized, “Our goal in 2021 is to vigilantly continue all safety measures while providing a continuum for our members and their guests of providing the best possible experience a private yacht club can impart.”
2020 Commodore Ginny Lombardi commented, “Women concurrently holding the top leadership positions is a groundbreaking milestone in BCYC’s history. As such, I cannot think of a better leader and role model to take the helm in 2021 than Rhonda. I will cherish my time as Commodore during quite a memorable year, and I salute our members and staff for their support despite the difficulties!”
“Rhonda and I worked closely during the Covid-19 pandemic, we were able to identify new opportunities and paradigm shifts for the better. While there have been challenges, there is much for us to look forward to as we begin to return to normal.”
With an impressive background in both business as well as yachting, Commodore Tolar has already made a significant impact on BCYC’s sailing and social programming for both members, guests and visiting sailors.
Among her outstanding club accomplishments, one she is particularly proud of began in 2009 when she and Sail Fleet Captain Paul DeCapua established the official BCYC Taco Tuesday Racing Series. She has chaired the event for the last 12 years which also includes a fun after-race fiesta. The race attracts 15+ PHRF-rated vessels and 20+ Harbor 20’s.
In 2018, she also founded the Wild Sailing Regatta that includes three offshore races per year.
While she grew up on the water in a power-boating family, in 2007 Commodore Tolar began sailing, fell in love with the sport and has owned a series of winning sailing vessels. She and her crew have raced her Far 30, and Far 40 in competitions up and down the coast, from San Francisco to Ensenada. In 2014, she won First in Class during the Newport-to-Ensenada (N2E) race in her Jeaneau 57’ “Wild Thing III”, as well as Best First Time Entry and Best Music in the Newport Beach Christmas Boat Parade.
As a businesswoman, Tolar was the co-founder/co-owner of Discount Dance Supply, which she sold after 40 years as a leader in the dancewear industry. She has been named by the Orange County Business Journal as both “Entrepreneur of the Year” and “Businesswoman of the Year.” Now retired, Tolar has two grown children, Natalie and Allen, and resides in Corona del Mar.
For more information, please visit www.bcyc.org.
Media Note: High resolution images and logos can be found at www.bcyc.org.
ABOUT BAHIA CORINTHIAN YACHT CLUB
Bahia Corinthian Yacht Club was founded in 1958, celebrating its 60th Anniversary in 2018. Member-owned and known as the ‘friendliest club on the bay”, BCYC offers a family-friendly atmosphere where power or sailboat owners share a first-class facility offering comfortable amenities and a well-rounded calendar of events.
The Club was named Club of the Year by the Southern California Yachting Association in 2011, 2008, 2005, 2003, 1996, 1995 and 1994. BCYC offers fine dining, social activities, cruising events and a Junior Sailing program year-round. Additional amenities include a heated pool and indoor boat storage. The club also boasts 64 slips and guest docks in their privately owned marina. BCYC members enjoy worldwide yacht club privileges, with reciprocity in yacht clubs around the world. www.bcyc.org
Bill Long
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(949) 683-4990
Based on performance in areas of environmental, social and corporate governance
WALL, N.J.--(BUSINESS WIRE)--For the second consecutive year, New Jersey Resources (NYSE: NJR) has been named one of America’s Most Responsible Companies by Newsweek in recognition of its excellence and accomplishments in corporate social responsibility.
NJR was selected from a cross-industry pool of over 2,000 companies that were evaluated and ranked based on a detailed analysis of key performance indicators in three areas of corporate social responsibility: environmental, social and corporate governance.
“This is a great acknowledgement of our company’s commitment to sustainable practices for the environment, our employees and the communities we serve,” said Steve Westhoven, president and CEO of New Jersey Resources. “NJR continues to be a leader in reducing emissions, promoting diversity, equity and inclusion, and supporting communities through our corporate citizenship and volunteerism efforts. It’s an honor to be recognized for our commitment to these values.”
Environmental stewardship and sustainability have long been priorities for NJR. Its regulated utility, New Jersey Natural Gas, has been a leader in reducing emissions – making infrastructure upgrades and investments to build the most environmentally sound delivery system in the state, as measured by leaks per mile – as well as helping customers reduce their energy consumption through its energy-efficiency initiatives. NJR’s renewable energy subsidiary, Clean Energy Ventures, was one of the earliest investors in New Jersey’s solar market; and today, it is one of the largest, with over $1 billion invested in solar projects across all the state’s 21 counties.
To learn more about NJR’s leadership and commitment to sustainability, please visit www.njrsustainability.com.
America’s Most Responsible Companies 2021 is a project of Newsweek in partnership with Statista. For more information on the rankings and methodology for selection, please visit www.newsweek.com/americas-most-responsible-companies-2021.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its more than 1,100 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®. For more information about NJR: www.njresources.com.
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Media:
Michael Kinney
732-938-1031
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Investor:
Dennis Puma
732-938-1229
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Report Highlights Twenty Years of Ameresco’s ESG Achievements, Including a Cumulative Carbon Offset Equivalent to Over 50 Million Metric Tons of Carbon Dioxide
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today released its first Environmental, Social and Corporate Governance (ESG) report for 2020. The report centers on the theme of “Doing Well by Doing Good,” which reflects Ameresco’s mission of delivering energy efficient and renewable solutions that enable a low carbon future. The report is a reflection of Ameresco’s progress in the ESG focus areas from the company’s inception, while also addressing many of its goals for the future.
Ameresco’s ESG Committee, which includes employee representatives across various functions, geographies and contributions, was established in 2020 to spearhead efforts to communicate the many ways ESG is intertwined in the company’s operations. By sharing an annual ESG report, Ameresco hopes to maintain accountability through evaluation of company initiatives and performance metrics, as well as identification of new lanes to improve long-term sustainability.
“It is widely understood that companies today must be aware of and transparent about their contributions to environmental and social improvement. As a leading integrator of energy efficiency, health, safety, resiliency and renewable energy technologies, this comes naturally to Ameresco,” said Doran Hole, executive chair of Ameresco’s ESG committee and chief financial officer. “This ESG report gives us the opportunity to illustrate 20 years of positive impact on the communities where we operate. Future generations are relying on Ameresco and our clients to continue to make strides in ESG, and we are more excited than ever about the work we have ahead of us.”
The report reflects Ameresco’s practices as it pertains to business and operations, employee engagement, health and safety and corporate responsibility. It highlights the company’s ESG activity from 2000 to present day, and outlines goal statements in strategic ESG focus areas. The ESG report also emphasizes Ameresco’s existing public advocacy, environmental, philanthropic, diversity and inclusion, health and safety and cyber security efforts.
In pursuit of energizing a sustainable world, Ameresco is proud that, in 2019, their renewable energy assets and customer projects delivered a carbon offset equivalent to approximately 11.2 million metric tons of carbon dioxide. Since going public on the NYSE in 2010, Ameresco has contributed to a cumulative carbon offset equivalent to over 50 million metric tons of carbon dioxide.
To view the 2020 Ameresco ESG report, visit http://www.ameresco.com/esg.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
ROSEMEAD, Calif.--(BUSINESS WIRE)--To further enhance the region’s electric system reliability needs, Southern California Edison has signed long-term contracts for four projects totaling 590 megawatts of battery energy storage resources. The recently conducted solicitation and resulting contracts are in addition to the company’s May acquisition of 770 MWs of energy storage procurement, one of the country’s largest. These contracts increase SCE’s total amount of installed and procured battery storage capacity to approximately 2,050 MWs.
“Bringing more utility-scale battery storage resources online will improve the reliability of the grid and further the integration of renewable generation resources, like wind and solar, into the grid,” said William Walsh, SCE vice president of Energy Procurement & Management. “As California transitions to 100% clean renewable energy to reduce the greenhouse gas emissions that are driving climate change, battery storage will play a key role in harnessing the value of these cost-effective, carbon-free resources in a reliable manner.”
Three of the four projects are utility-scale projects totaling 585 MW and will take advantage of lithium-ion batteries that can store energy for use later.
The fourth project is a 5 MW demand response contract that will use energy from customer-owned energy storage. Economically impacted communities that suffer most from the effects of air pollution will provide 5% of the MWs for this project.
One of the many ways these flexible energy resources can be used is by capturing solar energy during the day and distributing the energy as the sun sets and energy use remains high. They can also be used to respond to the California Independent System Operator signals, high-demand events, heat waves or when the energy grid is strained.
The projects are expected to come online by August 2022 and 2023.
Company |
Project Name |
Size (MW) |
Online Date |
Recurrent Energy |
Crimson |
200 |
8/1/2022 |
174 Power Global / Hanwha Group |
Eldorado Valley |
60 |
8/1/2022 |
NextEra Energy |
Desert Peak |
325 |
8/1/2023 |
Sunrun |
Behind-the-Meter Storage |
5 |
8/1/2023 |
The procurement was part of a robust competitive process initiated by SCE last year.
As laid out in Pathway 2045, SCE estimates the state needs to add 30 GW of utility-scale storage to the grid and 10 GW of storage from distributed energy resources to meet the state’s clean energy and carbon neutrality goals. These new contracts will further help California meet these goals while providing additional grid reliability. They also help improve California’s economy by creating craft and skilled clean energy jobs while reducing GHG emissions.
The contracts will require California Public Utilities Commission approval and SCE expects to submit them for approval before the end of the year.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.
Media Contact: Julia Roether, (626) 302-2255
HOUSTON--(BUSINESS WIRE)--Superior Energy Services (OTCQX: SPNX) (“Superior” or the “Company”) announced today that it has advanced its previously announced financial restructuring by commencing voluntary cases under chapter 11 of the U.S. Bankruptcy Code before the U.S. Bankruptcy Court (the “Bankruptcy Court”) for the Southern District of Texas (the “Chapter 11 Cases”) to implement a proposed “pre-packaged” Plan of Reorganization (the “Plan”).
Superior entered the Chapter 11 Cases with the support of holders of approximately 85% of Superior’s $1.3 billion of senior unsecured notes. Subject to the Bankruptcy Court’s approval, under the Plan, the noteholders would receive 100% of the equity to be issued and outstanding by the reorganized Company in exchange for discharging $1.3 billion of unsecured claims arising under the senior notes. As a result, the Plan would eliminate all of the Company’s funded debt and related interest costs and establish a capital structure that the Company believes will improve its operational flexibility and long-term financial health even in a low-commodity-price environment.
“Since the initial announcement of our planned recapitalization initiative in September, we have been encouraged by the growing consensus of the noteholders that have agreed to support the Plan, as well as the ongoing strong backing and support provided by our customers and lenders,” said David Dunlap, President and CEO of Superior. “We also thank all of our employees for their ongoing hard work and commitment to our Company and our customers and are grateful to our vendors and other valuable business partners for their continued support. The Company looks forward to quickly emerging from the Chapter 11 Cases in early 2021.”
The Company intends to operate its businesses and facilities without disruption to its customers, vendors, and employees, and is filing motions with the Bankruptcy Court to ensure that all undisputed trade claims against the Company (whether arising prior to or after the commencement of the Chapter 11 Cases) will be paid in full in the ordinary course of business.
Subject to the Bankruptcy Court’s approval, Superior intends to obtain a $120 million debtor-in-possession letter of credit facility (the “DIP Facility”) for its subsidiary SESI, L.L.C. (“SESI”), as borrower, with certain of the lenders under SESI’s existing credit facility (the “Existing Facility”). Upon Bankruptcy Court approval, approximately $47.4 million of outstanding undrawn letters of credit under the Existing Facility will be deemed outstanding under the DIP Facility. The DIP Facility is expected to provide sufficient letter of credit capacity to support the Company’s continuing business operations and minimize disruption during the Chapter 11 Cases.
Bankruptcy Court filings and other information related to the proceedings are available on a website administrated by the Company’s claims agent, Kurtzman Carson Consultants LLC, https://www.kccllc.net/superior, or by calling KCC toll-free at +1 877-499-4509, or +1 917-281-4800 for calls originating outside of the U.S.
Ducera Partners LLC and Johnson Rice & Company L.L.C. are acting as financial advisors for the Company, Latham & Watkins LLP and Hunton Andrews Kurth LLP are acting as legal counsel, Alvarez & Marsal is serving as restructuring advisor Evercore L.L.C. is acting as financial advisor for an ad hoc group of noteholders with Davis Polk & Wardwell LLP and Porter Hedges LLP serving as legal counsel. FTI Consulting, Inc. is acting as financial advisor for the agent for the Company’s secured asset-based revolving credit facility with Simpson Thacher & Bartlett LLP acting as legal counsel.
About Superior
Superior serves the drilling, completion, and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. For more information, visit http://www.superiorenergy.com.
Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this communication) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of Superior, which could cause actual results to differ materially from such statements. Forward-looking information includes, but is not limited to: statements regarding the timing and effect of the recapitalization; Superior’s ability to satisfy the conditions to that certain Amended and Restated Restructuring Support Agreement dated December 4, 2020 and obtain Bankruptcy Court approval with respect to motions in the Chapter 11 Cases; the outcomes of Bankruptcy Court rulings in the Chapter 11 Cases; general market and economic conditions; changes in law and government regulations; and other matters affecting Superior’s business.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Superior’s Annual Report on Form 10-K for the year ended December 31, 2019, and those set forth from time to time in Superior’s filings with the Securities and Exchange Commission. Except as required by law, Superior expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
No Solicitation or Offer
Any new securities to be issued pursuant to the restructuring transactions may not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws but may be issued pursuant to an exemption from such registration provided in the U.S. bankruptcy code. Such new securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.
Paul Vincent, VP of Treasury and Investor Relations,
(713) 654-2200
1001 Louisiana St., Suite 2900
Houston, TX 77002
DUBLIN--(BUSINESS WIRE)--The "FGD Market and Strategies" report has been added to ResearchAndMarkets.com's offering.
This report forecasts the market for flue gas desulfurization systems for every country of the world; analysis of both the new and retrofit market. Forecasts are in MW and $ and segmented by dry vs wet and limestone vs other.
For more information about this report visit https://www.researchandmarkets.com/r/mj9osb
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE: EAF) (GrafTech or the Company) today announced that its wholly owned subsidiary, GrafTech Finance Inc. (GrafTech Finance), has commenced a private offering of $500 million aggregate principal amount of senior secured notes due 2028 (the Notes), subject to market conditions.
GraftTech Finance intends to use the net proceeds of the Notes offering to repay a portion of the secured term loans outstanding under its existing credit agreement (the Credit Agreement).
It is expected that the Notes will be guaranteed on a senior secured basis by GrafTech and all of its existing and future direct and indirect U.S. subsidiaries that guarantee, or borrow under, the credit facilities under the Credit Agreement. It is also expected that the Notes will be secured on a pari passu basis by the collateral securing the term loans under the Credit Agreement.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. The Notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the Securities Act), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. The Notes and the related guarantees have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration under the Securities Act and applicable state securities and other securities laws.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.
Special note regarding Forward-Looking Statements
This press release and related discussions may contain forward-looking statements that reflect our current views with respect to, among other things, future events and financial performance. You can identify these forward‑looking statements by the use of forward‑looking words such as “will,” “may,” “plan,” “estimate,” “project,” “believe,” “anticipate,” “expect,” “foresee”, “intend,” “should,” “would,” “could,” “target,” “goal,” “continue to,” “positioned to,” "are confident", or the negative versions of those words or other comparable words. Any forward‑looking statements contained in this press release are based upon our historical performance and on our current plans, estimates and expectations considering information currently available to us. The inclusion of this forward‑looking information should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Our expectations and targets are not predictions of actual performance and historically our performance has deviated, often significantly, from our expectations and targets. These forward‑looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to: the ultimate impact that the COVID-19 pandemic has on our business, results of operations, financial condition and cash flows; the cyclical nature of our business and the selling prices of our products may lead to periods of reduced profitability and net losses in the future; the possibility that we may be unable to implement our business strategies, including our ability to secure and maintain longer-term customer contracts, in an effective manner; the risks and uncertainties associated with litigation, arbitration, and like disputes, including the recently filed stockholder litigation and disputes related to contractual commitments; the possibility that global graphite electrode overcapacity may adversely affect graphite electrode prices; pricing for graphite electrodes has historically been cyclical and the price of graphite electrodes may continue to decline in the future; the sensitivity of our business and operating results to economic conditions and the possibility others may not be able to fulfill their obligations to us in a timely fashion or at all; our dependence on the global steel industry generally and the electric arc furnace steel industry in particular; the competitiveness of the graphite electrode industry; our dependence on the supply of petroleum needle coke; our dependence on supplies of raw materials (in addition to petroleum needle coke) and energy; the possibility that our manufacturing operations are subject to hazards; changes in, or more stringent enforcement of, health, safety and environmental regulations applicable to our manufacturing operations and facilities; the legal, compliance, economic, social and political risks associated with our substantial operations in multiple countries; the possibility that fluctuation of foreign currency exchange rates could materially harm our financial results; the possibility that our results of operations could deteriorate if our manufacturing operations were substantially disrupted for an extended period, including as a result of equipment failure, climate change, regulatory issues, natural disasters, public health crises, such as the COVID-19 pandemic, political crises or other catastrophic events; our dependence on third parties for certain construction, maintenance, engineering, transportation, warehousing and logistics services; the possibility that we are unable to recruit or retain key management and plant operating personnel or successfully negotiate with the representatives of our employees, including labor unions; the possibility that we may divest or acquire businesses, which could require significant management attention or disrupt our business; the sensitivity of goodwill on our balance sheet to changes in the market; the possibility that we are subject to information technology systems failures, cybersecurity attacks, network disruptions and breaches of data security; our dependence on protecting our intellectual property; the possibility that third parties may claim that our products or processes infringe their intellectual property rights; the possibility that significant changes in our jurisdictional earnings mix or in the tax laws of those jurisdictions could adversely affect our business; the possibility that our indebtedness could limit our financial and operating activities or that our cash flows may not be sufficient to service our indebtedness; the possibility that restrictive covenants in our financing agreements could restrict or limit our operations; the fact that borrowings under certain of our existing financing agreements subjects us to interest rate risk; the possibility of a lowering or withdrawal of the ratings assigned to our debt; the possibility that disruptions in the capital and credit markets could adversely affect our results of operations, cash flows and financial condition, or those of our customers and suppliers; the possibility that highly concentrated ownership of our common stock may prevent minority stockholders from influencing significant corporate decisions; the possibility that we may not pay cash dividends on our common stock in the future; the fact that certain of our stockholders have the right to engage or invest in the same or similar businesses as us; the possibility that the market price of our common stock could be negatively affected by sales of substantial amounts of our common stock in the public markets, including by Brookfield Asset Management Inc. and its affiliates; the fact that certain provisions of our Amended and Restated Certificate of Incorporation and our Amended and Restated By-Laws could hinder, delay or prevent a change of control; the fact that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders; our status as a "controlled company" within the meaning of the New York Stock Exchange corporate governance standards, which allows us to qualify for exemptions from certain corporate governance requirements; and GrafTech Finance’s ability to complete the Notes offering on terms that are commercially attractive to it or at all.
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements, including the Risk Factors sections included in our most recent Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020, June 30, 2020 and September 30, 2020, and other filings with the SEC. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. We do not undertake any obligation to publicly update or review any forward‑looking statement, except as required by law, whether as a result of new information, future developments or otherwise.
Wendy Watson
216-676-2000
Names engineering research & development facilities after founder: “Robert E. Koski Center of Engineering Innovation”
SARASOTA, Fla.--(BUSINESS WIRE)--Sun Hydraulics (“Sun” or the “Company”) honored the legacy of the late Robert Koski, the founder of Sun, in a dedication ceremony today, marking the company’s first 50 years in business by naming its new engineering research and development facilities the “Robert E. Koski Center of Engineering Innovation.”
The newly named Koski Center will serve as the global headquarters of the company’s R&D efforts. It will provide expanded hydraulics and electro-hydraulics testing capabilities intended to serve the Company’s own product innovation and development efforts and support its global customers and sales channel partners testing the latest technologies and Sun solutions for their machines and equipment.
Due to coronavirus concerns, the event was attended by a small group of individuals, including Mr. Koski’s wife, Beverly Koski, his sons, Bob Koski and Tom Koski, and his daughter and long-time board member, Chris Koski. Also in attendance were senior leaders from Sun Hydraulics and its parent company, Helios Technologies.
Speeches by Beverly and Chris Koski, Helios’s CEO Josef Matosevic, CFO Tricia Fulton and board member Greg Yadley marked the small, socially distanced in-person event.
“I am touched by this gesture to honor my husband’s legacy,” said Beverly Koski. “He was a remarkable man and an inspirational leader who believed in the company and its products. But most important to him were the people, the ideas and the innovation that built such a strong company.”
Daughter and former board member, Chris Koski, echoed her mother’s sentiments. “My father was curious, inventive and always open to new ideas, and he valued his relationships with everyone at Sun Hydraulics. For those who knew and worked with him, he was a mentor who always challenged them to think for themselves and take ownership of their ideas and decisions.”
Josef Matosevic, President and CEO of Sun’s parent company Helios Technologies, spoke about Mr. Koski’s legacy. “We are here to recognize the accomplishments and contributions Mr. Koski made to this company, to the hydraulics industry and to the concepts of leadership.”
Mr. Matosevic continued, “He touched many lives along the way—mentoring and challenging those he worked with—and provided an environment that fostered the innovation he believed in so strongly.”
The event closed with the unveiling of the sign above the doors of the newly dedicated “Robert E. Koski Center of Engineering Innovation” in Sarasota, and the plaque commemorating his contributions in the lobby.
A video will be released that will include the dedication event and feature tributes from employees and partners from around the globe who were key to the company’s success. The video tribute will be published on the Company’s website (www.sunhydraulics.com) to honor the dedication virtually.
Bob Koski & Sun Hydraulics
Fifty years ago, in 1970, Bob Koski left the security of a job in a traditional company with a promising future to pursue a new organizational vision at his own company, Sun Hydraulics. Initially fueled by the innovative product designs of Mr. Koski and co-founder John Allen, the company’s dedicated focus on collaborative innovation attracted engineering talents that fed that vision, working together to rethink cartridge valve technology and the fundamentals of manifold design.
This bold new approach left behind the limitations of the industry common cavity to advance fluid power technology in ways that still drive the company’s leadership in load-holding technology today. Sun’s counterbalance valves are recognized worldwide for their safe, reliable load control and are the go-to solutions for quality-conscious OEMs in all hydraulic equipment markets.
Bob Koski’s entrepreneurial spirit was equally important in his vision for the company’s organization. The open, horizontal management system at Sun led to contributions from everyone at the company, creating a process that fed continuing innovation and helped drive the company’s success. By helping colleagues make their own decisions instead of telling them what to do, he enabled a culture of empowerment and innovation at Sun.
Mr. Koski turned over the reins of the company to Clyde Nixon, the company’s second CEO, in 1988. Koski continued to be active in the company for many years as the company’s spokesperson, as an advocate for the hydraulics industry around the world, and as an inspiring leader at Sun until his passing in 2008.
About Sun Hydraulics
Sun Hydraulics is a leading manufacturer of high-performance screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets. Sun Hydraulics is a division of Helios Technologies, a global industrial technology leader that develops and manufactures hydraulic and electronic control solutions for diverse markets. Helios Technologies does business through its operating subsidiaries around the world, including Sun Hydraulics LLC, Enovation Controls LLC, Faster S.p.A. and Balboa Water Group.
For additional information regarding this event, please contact:
Steve Berlin, Marketing
Sun Hydraulics
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941-362-1225
Demand for motor fuel plunged 19.3% compared to 2019 and may remain subpar well into 1Q 2021
GAITHERSBURG, Md.--(BUSINESS WIRE)--U.S. motorists stayed off the road during the Thanksgiving holiday in overwhelming numbers as the coronavirus surged across the country, according to the latest weekly survey of retail fuel stations by OPIS, an IHS Markit (NYSE: INFO) company.
Gasoline sales fell a staggering 8.4% (nearly 185 million less gallons) from the previous week for the seven-day period ending November 28, bringing consumption to the lowest level for a Thanksgiving Week in 23 years, going back to 1997.
“As we come out of Thanksgiving and look ahead to Christmas and the New Year, gasoline sales show that additional waves of the coronavirus are very much impacting travel decisions,” said Tom Kloza, executive director, IHS Markit and a veteran analyst of North American fuel trends. “We’re heading toward a 90-day period where gasoline demand gets further crimped by winter weather and post-holiday cocooning. By January, we may regularly see demand numbers not witnessed since the last century.”
“This unprecedented drop in gasoline demand registers caution that has gripped the nation and led many people to avoid the traditional large family Thanksgiving dinner as the virus wave smashes across the country,” said Daniel Yergin, vice chairman, IHS Markit and author of The New Map. “We likely won’t see a turnaround until the wave breaks and the new vaccines are deployed.”
The OPIS survey tracks actual gallons moved out of retail stations and it features sharper losses than those reported by the Energy Information Administration (EIA). EIA measures movement of gasoline from primary stocks, while the OPIS survey tracks actual weekly sales at nearly 25,000 stations.
Year-on-year comparisons are even more dramatic at the regional level, with some regions seeing declines of 20% or more from Thanksgiving Week 2019.
Data within the OPIS report shows considerable variation across the country.
The data speaks to a major problem for the petroleum industry and oil prices as it recovers from unprecedented demand declines for most of 2020.
“A persistent rebound in global oil markets requires profitability in transportation products,” said Fred Rozell, president, OPIS by IHS Markit. “But that won’t happen until demand recovers.”
OPIS DemandPro updates gasoline retail sales every week and breaks it down nationally, regionally and by state. It is the only tool that enables North American traders, marketers and investors to measure actual gasoline demand on a granular level.
For further information about the OPIS Demand Report and OPIS DemandPro, rack and retail prices, contact Brian Norris, executive director, OPIS at This email address is being protected from spambots. You need JavaScript enabled to view it.
About OPIS (www.opisnet.com)
Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain. Leveraging data from its spot, rack and retail market sources, OPIS enables its customers to buy and sell oil, gas, and petrochemical products with confidence across the globe.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.
Jeff Marn
IHS Markit
+1 202 463 8213
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Press Team
+1 303 858 6417
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— $50,000 donation supports leadership program that guides fatherless youth —
FORT WORTH, Texas--(BUSINESS WIRE)--#FortWorth--HOPE Farm today announced a five-year commitment from Reliant to help transform the lives of at-risk boys in Fort Worth. HOPE Farm helps youth become men of integrity by providing role models, leadership development and spiritual and educational resources to both the children and their caregivers. Reliant’s $50,000 donation to the organization’s leadership program focuses on guiding at-risk boys in single-parent homes.
“Having strong community partners is critical to the success of our program. Besides the important financial support, it signifies that established organizations recognize the future of our communities depend on preparing everyone for success. Reliant is a well-known and respected company so to be able to say that they’re in this with us makes a really strong statement. We are so grateful for their leadership stepping up and supporting us in a such a big way,” said Sacher Dawson, executive director of HOPE Farm.
HOPE Farm has served fatherless boys ages five to 18 and their mothers or caregivers in the south side of Fort Worth since 1997, working to eradicate the cycle and effects of fatherlessness by cultivating at-risk boys into tomorrow’s leaders. The organization’s leadership program addresses the spirit through character building, Bible study and prayer; the mind through reading, language, computers, math, music and critical thinking; and the body through training and conditioning, nutritious meals and organized athletic activities.
“Reliant is committed to powering change and our engagement with HOPE Farm is another example of how we are supporting organizations that empower young people with incremental resources so they can achieve their full potential,” said Elizabeth Killinger, president of Reliant. “We are inspired by the work HOPE Farm is doing to transform the lives of at-risk boys and are honored to play a part in helping create a better future for these young men.”
Helping hundreds of Fort Worth youth reach their potential
Since its inception more than 20 years ago, HOPE Farm has helped hundreds of boys and has positively impacted the Historic Southside, Hillside and Morningside neighborhoods. HOPE Farm opened a brand-new facility in Fort Worth’s Como community in the spring of 2019 and opened the doors to HOPE Farm – South Dallas in January of this year. Announced last month, the nonprofit is expanding with a new vocational center that will provide young men with hands-on work experience and training in welding, plumbing, HVAC and more.
A recent testament to its successful leadership program is Shamar Peoples. After his mother and father died suddenly and tragically, Shamar’s grandmother took him in and raised him. When Shamar began to struggle in middle school, his grandmother needed help and ultimately turned to HOPE Farm. Shamar was placed in Fort Worth’s Hill School, where he excelled academically, athletically and socially. With support from his sponsors, Shamar completed his high school education and graduated with honors. Through hard work and determination, Shamar was accepted to Texas Christian University, where he attends as a freshman on multiple scholarships.
“Shamar is a shining example of what we hope all of our graduates can achieve,” said Felix Stiggers, program director at HOPE Farm, Morningside. “Thanks to generous supporters like Reliant, we will be able to help unlock the potential of even more young men like Shamar.”
The $50,000 donation is part of Reliant and parent company NRG’s “Powering Change” initiative, which has committed $1 million toward organizations and initiatives that combat racial inequities, injustice and related violence. For additional information on Reliant’s “Powering Change” initiative, visit reliant.com/community.
About HOPE Farm, Inc.
HOPE Farm, Inc. is a Fort Worth-based 501(c)(3) dedicated to eradicating the cycle and effects of fatherlessness by cultivating at-risk boys into tomorrow’s leaders. HOPE Farm’s programs enrich the spirit, mind, and body via leadership development, academics, physical education, Bible study, and music, as well as a mothers’ resource initiative. HOPE Farm serves boys ages 5-18 and their mothers or caretakers from two Fort Worth campuses: its headquarters in the southside of Fort Worth, where it has been located since 1997, and its new Como campus, which opened in 2019. A new South Dallas location opened in spring of 2020. To learn more, visit www.hopefarmfw.org, or on Facebook, Instagram, and Twitter.
About Reliant
Reliant powers, protects and simplifies life by bringing electricity, security and related services to homes and businesses across Texas. Serving customers and the community is at the core of what we do, and the company is recognized nationally for outstanding customer experience. Reliant is part of NRG, a Fortune 500 company that creates value by generating electricity and providing energy solutions to more than 3.7 million residential, small business and commercial customers across the U.S. and Canada. NRG’s competitive residential electricity business, which includes Reliant, is one of the largest in the country. For more information about Reliant, visit reliant.com and connect with Reliant on Facebook at facebook.com/reliantenergy and Twitter or Instagram @reliantenergy. PUCT Certificate #10007.
Victor Neil, HOPE Farm
817-247-1277
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Megan Talley, Reliant
713-537-2160
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