Participation in Global Industry Initiatives and Recognition Highlights for 2020
PARSIPPANY, N.J.--(BUSINESS WIRE)--AdvanSix (NYSE: ASIX) continues to build a broad platform for sustainability and corporate social responsibility across its organization and with stakeholders. A focus on continuously improving performance and core values of safety, integrity, accountability and respect propelled the company’s progress and achievements in 2020.
“Our sustainability efforts continue to mature in concert with our strategic priorities of operational excellence, enhancing portfolio resiliency and strong capital stewardship,” said Erin Kane, president and CEO of AdvanSix. “At AdvanSix, environmental, social and economic sustainability is essential to our business, especially in our relationships with key stakeholders, as we make products the world values. We embrace more every day about what it means to be a sustainable organization, leading, learning and collaborating across the chemical and broader industry environment.”
AdvanSix is a long-time, proud member of the American Chemistry Council (ACC) and manages its operations in a safe, secure and sustainable manner in accordance with the Responsible Care® Guiding Principles. In addition to the ACC, AdvanSix was proud to join this year with other industry leaders in global initiatives:
Together for Sustainability
In November, AdvanSix joined Together for Sustainability (TfS), a global, procurement-driven initiative that delivers a groundbreaking framework with robust tools to assess and improve the sustainability performance of chemical companies and their suppliers. TfS delivers the de facto global standard for environmental, social and governance performance of chemical supply chains. The program is based on the UN Global Compact and Responsible Care® principles. AdvanSix is one of 29 multinational TfS member companies.
Operation Clean Sweep®
Operation Clean Sweep (OCS) is the stewardship campaign organized by the Plastics Industry Association and the American Chemistry Council’s Plastics Division designed to achieve zero pellet, flake and powder loss, and help keep material out of the marine environment. AdvanSix signed the OCS pledge in September, highlighting its commitment as a leading nylon resin provider in the North American plastics industry, and has begun to implement the program at its Chesterfield, Va. site, where employees are performing assessments and preventing chip loss at the point of origin. Additional training and process improvements are ongoing, as the team works to fulfill the pledge of the OCS campaign.
EcoVadis
AdvanSix was awarded a 2020 Gold Rating for corporate social responsibility (CSR) by EcoVadis, an independent CSR assessment agency in January. This was the first time AdvanSix participated in the assessment, which includes evaluations in the areas of Environment, Labor & Human Rights, Ethics, and Sustainable Procurement, and was ranked among the top four percent of chemical industry peers.
Several governance initiatives drive the organization’s approach to CSR and sustainability:
Health, Safety, Environmental and Sustainability (HSE&S) Committee of the Board of Directors
In February, the Board of Directors established the HSE&S Committee of the Board with primary responsibilities to include overseeing, reviewing and providing guidance on HSE&S management systems, reporting processes and systems of internal controls, climate change, and social and public policy programs to ensure compliance and consistency with business strategy and creation of stakeholder value.
Sustainability Council
Our Sustainability Council, which reports regularly to the HSE&S Committee, is comprised of subject matter experts throughout the organization. Part of the Council’s mission is to advance our path forward by remaining true to our core values, serving as a responsible corporate citizen, adapting to the needs of our stakeholders and delivering innovative ideas for a sustainable future.
AdvanSix publishes a Sustainability Report annually, providing an overview of the company’s environmental performance, corporate social responsibility and ethics and governance policies, and as a way to advance and engage in a dialogue among employees, customers, suppliers, shareholders and other stakeholders. This year’s report was developed in alignment with the Global Reporting Initiative (GRI) Standards Core, supplemented with disclosures using guidance of the Sustainability Accounting Standards Board (SASB) as well as the Task Force on Climate-related Financial Disclosures (TCFD).
About AdvanSix
AdvanSix is a leading manufacturer of Nylon 6, a polymer resin which is a synthetic material used by our customers to produce fibers, filaments, engineered plastics and films that, in turn, are used in such end-products as carpets, automotive and electronic components, sports apparel, food packaging and other industrial applications. As a result of our backward integration and the configuration of our manufacturing facilities, we also sell caprolactam, ammonium sulfate fertilizer, acetone and other intermediate chemicals, all of which are produced within unit operations across our integrated manufacturing value chain. More information on AdvanSix can be found at http://www.advansix.com.
Forward Looking Statements
This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, that address activities, events or developments that our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements may be identified by words such as "expect," "anticipate," "estimate," “outlook,” "project," "strategy," "intend," "plan," "target," "goal," "may," "will," "should" and "believe" and other variations or similar terminology and expressions. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and difficult to predict, which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: general economic and financial conditions in the U.S. and globally, including the impact of the coronavirus (COVID-19) pandemic and any resurgences; the scope and duration of the pandemic and pace of recovery; the timing of the development and distribution of an effective vaccine or treatment for COVID-19; governmental, business and individuals’ actions in response to the pandemic, including our business continuity and cash optimization plans that have been, and may in the future be, implemented; the impact of social and economic restrictions and other containment measures taken to combat virus transmission; the effect on our customers’ demand for our products and our suppliers’ ability to manufacture and deliver our raw materials, including implications of reduced refinery utilization in the U.S.; our ability to sell and provide our goods and services, including as a result of travel and other COVID-19-related restrictions; the ability of our customers to pay for our products; and any closures of our and our customers’ offices and facilities; risks associated with increased phishing, compromised business emails and other cybersecurity attacks and disruptions to our technology infrastructure; risks associated with employees working remotely or operating with a reduced workforce; risks associated with our indebtedness including compliance with financial and restrictive covenants, and our ability to access capital on reasonable terms, at a reasonable cost or at all due to economic conditions resulting from COVID-19 or otherwise; the impact of scheduled turnarounds and significant unplanned downtime and interruptions of production or logistics operations as a result of mechanical issues or other unanticipated events such as fires, severe weather conditions, natural disasters and pandemics including the COVID-19 pandemic; price fluctuations, cost increases and supply of raw materials; our operations and growth projects requiring substantial capital; growth rates and cyclicality of the industries we serve including global changes in supply and demand; failure to develop and commercialize new products or technologies; loss of significant customer relationships; adverse trade and tax policies; extensive environmental, health and safety laws that apply to our operations; hazards associated with chemical manufacturing, storage and transportation; litigation associated with chemical manufacturing and our business operations generally; inability to acquire and integrate businesses, assets, products or technologies; protection of our intellectual property and proprietary information; prolonged work stoppages as a result of labor difficulties or otherwise; cybersecurity, data privacy incidents and disruptions to our technology infrastructure; failure to maintain effective internal controls; disruptions in transportation and logistics; our inability to achieve some or all of the anticipated benefits of our spin-off including uncertainty regarding qualification for expected tax treatment; fluctuations in our stock price; and changes in laws or regulations applicable to our business. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our filings with the Securities and Exchange Commission (SEC), including the risk factors in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2019, as updated in subsequent reports filed with the SEC.
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Revenue for nine months ended September 30, 2020 increased over nine months ended September 30, 2019
CLEARWATER, Fla.--(BUSINESS WIRE)--$OCLN #newgold--OriginClear Inc. (OTCQB: OCLN), The Water Company for the New Economy™, announces that revenues and gross profits for the first nine months of 2020 outpaced the same period in 2019.
The company reported the following highlights from its recent quarterly report:
“Thanks to the hard work of our Texas-based team, we are continuing to outpace 2019,” said Riggs Eckelberry, OriginClear CEO. “Even more importantly, we saw a boost in booked orders late in the third quarter, including approximately $450,000 in jobs in progress which have not yet been recognized.”
“I’m pleased with the pace of new business on Progressive Water Treatment and Modular Water Systems,” said Tom Marchesello, OriginClear Chief Operating Officer. “Our team efforts are paying off.”
Revenue for the three months ended 9/30/20 decreased by 2% to $917,320 compared to $939,468 for the same period last year. The three months ended September 30, 2020 showed a Gross Loss, $(17,388) vs $80,640 and Loss from operations widened to $1,183,722 from $964,655.
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About OriginClear, Inc.
Water is our planet’s most valuable resource, and the mission of OriginClear is to provide breakthrough water treatment and conveyance products that effectively improve the quality of our planet’s waters by returning them to their original and clear condition and deliver the highest quality water to end-users. But 80% of all sewage in the world is never treated, and up to 35% of all clean water is lost in transit. This calls for self-help solutions at the point of use, a movement known as decentralized water treatment. Our mission is to enable this decentralized water revolution by providing rapid deployment, point-of-use water treatment and conveyance products and technologies that enable water independence, and help make clean water available for all. For more information, visit the company’s website at www.OriginClear.com.
Forward-Looking Statements
Matters discussed in this presentation contain forward-looking statements. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable law. There cannot be any assurance that our revenue will increase.
Investor Relations OriginClear:
Devin Angus
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International: +1-323-939-6645 Ext. 3
Fax: 323-315-2301
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www.OriginClear.com
Press Contact:
TransMedia Group
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The Mobility House smart charging system now operational as construction for landmark 4.35MW project continues
BELMONT, Calif.--(BUSINESS WIRE)--The Mobility House has delivered its comprehensive smart charging solution to the largest U.S. battery-electric bus fleet charging project for Metro Transit in the St. Louis region. Working for New Flyer of America, Inc. (New Flyer), the 4.35MW charging project has the first of its 20 150kW and three 450kW chargers now operating intelligently with the use of the Charging and Energy Management system ChargePilot from The Mobility House. ChargePilot adjusts the charging performance of electric buses according to real-time travel schedules, as well as the local utility Ameren Missouri’s time-of-use tariffs and peak demand charges, to deliver charging at the lowest cost to Metro Transit.
“With over 10 percent of the European bus market intelligently controlled by our technology, we are bringing a wealth of best practices and lessons learned in electric fleet charging management to this landmark project in St. Louis,” said The Mobility House U.S. Managing Director Greg Hintler. “Our experience at more than 500 commercial installations around the world and with automotive partners ranging from Audi to Tesla, has illustrated why our open standards-based approach to smart charging management not only optimizes charging costs but also future-proofs operations. As fleets scale their EV operations, it is interoperable systems that will ensure different chargers interface with other on-site systems regardless of vendor.”
The Mobility House optimizes depot charging infrastructure and plans for managing overhead in-route charging to ensure Metro Transit buses maintain a sufficient state-of-charge to complete all scheduled operations. The ChargePilot charging and energy management system can save more than 30 percent in operational charging costs versus unmanaged charging by reducing peak load and demand charges as well as through time-of-use (TOU) tariff optimization where charging is scheduled during the most cost-effective times.
The Metro Transit project joins the hundreds of other electric fleet projects for The Mobility House, such as the Avinor Oslo airport fleet and Connexxion Schiphol airport fleet in Amsterdam with 100 electric buses. The Mobility House’s ChargePilot smart charging and energy management solution allows system operators to charge electric vehicles in transit depots, commercial office parking lots or multi-unit dwelling complexes of any size at the lowest electricity rate by intelligently distributing available grid power. With The Mobility House ChargePilot solution, operators benefit from reduced cost of ownership, secure local and cloud-based asset management and control, and a scalable modular design that operates with myriad equipment manufacturers and systems.
To learn more about The Mobility House charging and energy management solutions or the Metro Transit project in the St. Louis region, visit mobilityhouse.com.
About The Mobility House
The Mobility House mission is to create an emissions-free energy and mobility future. Since 2009, the company has developed an expansive partner ecosystem to intelligently integrate electric vehicles into the power grid, including electric vehicle charger manufacturers, 400+ installation companies, 40+ energy suppliers, and automotive manufacturers ranging from Audi to Tesla. The Mobility House’s unique vendor-neutral and interoperable technology approach to smart charging and energy management has been successful at over 500 commercial installations around the world. The Mobility House has 140 employees across its operations in Munich, Zurich and Belmont, Calif. For more information visit mobilityhouse.com.
Christine Bennett for The Mobility House
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Firm to open offices in San Francisco and New York to support leading REITs with their climate goals
AUSTIN, Texas--(BUSINESS WIRE)--Longevity Partners, the leading service provider for energy and sustainability advice across the world’s largest property funds, just announced the opening of a brand new US headquarters in Austin, Texas. Longevity Partners is the first European responsible real estate advisory firm to open offices in the United States as the firm continues its global expansion. The company manages more than $120bn of commercial and residential real estate ESG programs across 38 countries.
The North American subsidiary, 100% owned by Longevity Partners Limited, will be managed by the group Founder and CEO Etienne Cadestin. Satellite offices in San Francisco and New York will open in early 2021 adding to the company’s existing European networks in London, Paris, Munich, and Amsterdam.
The expansion comes at a time when new municipal and national carbon reduction targets are demanding property investors and managers consider responsible solutions for new and existing assets. There is growing understanding from the investment community on the business imperative to minimize reputational risk and increase regulatory compliance while delivering carbon neutrality and unlocking long term value creation.
“We are humbled to respond to our growing customer demand overseas by making a significant self-funded investment with three new offices in the United States,” says Etienne Cadestin, Founder and CEO of Longevity Partners. “Over the last two years, there has been a colossal push to address climate risk and our clients understand the correlation between global warming and the vulnerability of their investments. I can’t think of a better place than Austin to start this journey and we are now able to advise Texan corporates and pension funds on climate risk adaptation and transition solutions.”
The Longevity team is comprised of passionate experts determined to support businesses around the world in the transition to a low carbon economy. Expansion plans are driven by the ever-growing demand for climate-focused investments, the race to achieve net-zero carbon, and a framework of tighter environmental regulations to reach strict climate goals.
To help with this ambitious project, Anneli Tostar, newly appointed Business Growth Associate of Longevity Partners USA will be in charge of business developments throughout the West Coast. Anneli has an MSc in Sustainable Urban Planning & Design from KTH in Stockholm, and a B.A. in Anthropology and Environmental Science & Public Policy from Harvard University. She has previously worked at The Better Buildings Partnership, where she oversaw stakeholder engagement for a collaboration of UK real estate firms, focused on sustainability.
“I couldn’t be more excited to be joining Longevity in the U.S. as a Business Growth Associate. As someone who grew up in the U.S. and is passionate about environmental equity, the opportunity to bring the expertise of Longevity over to the States is a fortuitous one,” notes Anneli Tostar, Business Growth. “I’m lucky to have been exposed to some of the most ambitious places for sustainability. Making progress on climate action in the built environment is no small feat, but it’s hard to imagine a more qualified team.”
To learn more about how Longevity can guide your company on the path to net-zero carbon, visit: www.longevity.co.uk.
About Longevity Partners
Founded in 2015, Longevity Partners works to make the built environment more responsible, carbon-neutral, and resilient. Longevity Partners provides first-class energy and sustainability advice to the biggest names in the sector, operating across the entire commercial & residential property industry in 38 countries. It believes in long-term partnerships to drive the transition to a low carbon economy through the implementation of innovative tactics.
Victoria Shannon
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DUBLIN--(BUSINESS WIRE)--The "Containerized Solar Generators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Containerized Solar Generators Market to Reach $543.3 Million by 2027.
Amid the COVID-19 crisis, the global market for Containerized Solar Generators estimated at US$363.1 Million in the year 2020, is projected to reach a revised size of US$543.3 Million by 2027, growing at a CAGR of 5.9% over the period 2020-2027.
Off-Grid, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$358.8 Million 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 Grid Connected segment is readjusted to a revised 5.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $107.2 Million, While China is Forecast to Grow at 5.5% CAGR
The Containerized Solar Generators market in the U.S. is estimated at US$107.2 Million in the year 2020. China, the world`s second-largest economy, is forecast to reach a projected market size of US$95.4 Million by the year 2027 trailing a CAGR of 5.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 4.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.
The report presents concise insights into how the pandemic has impacted production and the buy-side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/9emckx
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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18 companies have now joined The Climate Pledge, a commitment co-founded by Amazon and Global Optimism to meet the goals of the Paris Agreement 10 years early
New signatories are implementing real, science-based, high-impact changes to their businesses, including deploying renewable energy, investing in sustainable buildings, and mobilizing supply chains to reach net-zero carbon by 2040
SEATTLE--(BUSINESS WIRE)--Today, during Web Summit 2020, Amazon (NASDAQ: AMZN) and Global Optimism announced that Boom Supersonic, Cabify, JetBlue, Rivian, and Uber have joined The Climate Pledge, a commitment to be net-zero carbon by 2040—a decade ahead of the Paris Agreement’s goal of 2050.
Signatories to The Climate Pledge agree to:
“By signing The Climate Pledge, companies around the world are making a bold commitment to help protect our planet from the devastating impacts of climate change,” said Jeff Bezos, Amazon founder and CEO. “The transportation sector plays a critical role in accelerating our carbon reduction goals, and we welcome Boom, Cabify, JetBlue, Rivian, and Uber as they join us on the journey to net-zero carbon by 2040. The 18 companies who have signed The Climate Pledge so far are demonstrating leadership in the vital transition to a low-carbon economy that will help preserve the environment for future generations.”
Boom is redefining commercial flight by bringing supersonic travel back to the skies. Boom’s historic airliner, Overture, is designed to industry-leading standards of speed, safety, and sustainability. In February 2020, the company announced that the test program for its XB-1 demonstrator will be carbon neutral, through the use of sustainable aviation fuels and high-quality, vetted carbon offsetting. Boom has also committed to making Overture a net-zero carbon aircraft in development, testing, and operation, and is a member of several organizations working to accelerate the adoption and supply of sustainable aviation fuels for the airline industry. In achieving its vision of making the world more accessible, Boom views speed and sustainability as compatible goals.
“In building the world’s fastest airliner, Boom is taking an all-encompassing approach to sustainability. Having made sustainability a company priority from day one, we have been able to build best practices of environmental protection into our programs since the beginning,” said Blake Scholl, Boom founder and CEO. “We are thrilled to join The Climate Pledge and to ensure that speed and sustainability are compatible with one another.”
Cabify is the first and only urban mobility app in Europe and Latin America to be carbon neutral by offsetting 100% of all the carbon emissions that it generates – from its corporate operations and for every ride booked through the app. Cabify is also closely measuring and reducing emissions for its corporate activity and aiming to electrify its transportation fleet in Spain and Latin America—by 2025 and 2030, respectively—to reduce its carbon emissions. The company is focused on increasing environmental protections and promoting renewable energies by working on large-scale efforts in Chile, Peru and Brazil using solutions like blockchain technology for carbon offsetting.
“Efficient urban mobility is key in the fight against climate change,” said Juan de Antonio, Cabify founder and CEO. “Cabify wants to be part of the solution, and that’s why for the third year in a row we have committed to offsetting the carbon emissions that our riders and operations generate while we continue to support the electrification of the fleets we work with. We’re pleased to join The Climate Pledge to continue to be transparent about our sustainability journey.”
JetBlue is the first airline to join The Climate Pledge, and this reaffirms the company’s commitment to taking measurable steps towards reducing its climate impact. In July 2020, JetBlue became the first and only U.S. airline to achieve carbon neutrality for all domestic flights. It now expects to ramp up to over 7 million metric tons of CO2 emissions offset each year—the annual equivalent of removing more than 1.5 million passenger vehicles from the road. JetBlue views carbon offsetting as a bridge as the airline continues to ramp up lower-carbon technologies, such as sustainable aviation fuels, and build more fuel-efficient aircraft and operations. JetBlue began flying regularly out of San Francisco International Airport in July 2020 using a type of a sustainable aviation fuel, which enables up to an 80 percent reduction in CO2 emissions before being blended with traditional jet fuel.
“Air travel connects people and cultures, and supports a global economy. Our commitment to sustainability has become even more important as we prepare our business for a new climate reality,” said Robin Hayes, JetBlue CEO. “We are proud to join The Climate Pledge and join a community of like-minded organizations dedicated to reaching net zero-carbon by 2040. The climate crisis remains one of the biggest threats facing our industry. Our planet is physically changing, as are the expectations of our customers, crewmembers, and investors. Now is the time to rebuild operations in more sustainable ways, such as adopting sustainable aviation fuel and setting clear strategies to reduce net aviation CO2 emissions.”
Rivian is launching a range of adventure-oriented vehicles, as well as delivery vans specifically for Amazon last-mile delivery applications. The company’s launch products, the R1T and R1S, deliver a unique combination of performance, off-road capability and utility. These vehicles use the company’s flexible skateboard platform and will be produced at Rivian’s manufacturing plant in Normal, Ill., with customer deliveries to begin in June 2021.
"Rivian was formed to help build the kind of future our kids and our kids’ kids deserve. Rivian’s commitment to sustainable vehicle production in our consumer products and commercial vans is driven by this core objective,” said RJ Scaringe, Rivian founder and CEO. “Addressing climate change requires individuals and entire industries to come together to create solutions that shift consumer mindsets and inspire other companies to fundamentally change the way they operate. We’re excited to join The Climate Pledge community that will share knowledge, ideas, and best practices on this important mission."
Uber has committed to become a fully zero-emission platform by 2040, with 100% of rides taking place in zero-emission vehicles, on public transit, or with micromobility options such as bikes and scooters. Uber had previously set a goal to provide 100% of rides in electric vehicles (EVs) by 2030 in U.S., Canadian, and European cities. Uber has also committed to reach net-zero emissions from its corporate operations by 2030. To reach these goals, Uber is expanding Uber Green to make it easier for riders to choose to travel in hybrids or EVs; dedicating $800 million in resources to help hundreds of thousands of drivers transition to EVs by 2025; investing in our multimodal network to provide sustainable alternatives to personal cars; and being transparent and accountable to the public along the way.
“As we announced in September, Uber is taking this moment as an opportunity to drive a green recovery from the pandemic,” said Dara Khosrowshahi, Uber CEO. “We invite every company in the world to join The Climate Pledge and take action to reduce their environmental impact. Together we can more aggressively tackle the urgent challenge of climate change.”
“The Paris Agreement set out a unifying roadmap for all countries and all people to address the climate crisis by taking action,” said Christiana Figueres, the UN’s former climate change chief and Global Optimism’s founding partner. “By joining The Climate Pledge, signatories are not just making a statement of commitment to the future, they also are setting a pathway to significant actions and investments that will create jobs, spur innovation, regenerate the natural environment, and help consumers to buy more sustainable products.”
Race To Zero is a global campaign supported by The Climate Pledge to rally leadership and support from businesses, cities, regions, and investors for a healthy, resilient, zero carbon recovery. Race to Zero is partnering with Web Summit at this year’s virtual conference being held Dec. 2-4 to highlight the importance of companies coming together.
In 2019, Amazon and Global Optimism co-founded The Climate Pledge, a commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. Eighteen organizations have now signed The Climate Pledge: Amazon, Best Buy, Boom, Cabify, Henkel, Infosys, JetBlue, McKinstry, Mercedes-Benz, Oak View Group, Real Betis, Reckitt Benckiser (RB), Rivian, Schneider Electric, Siemens, Signify, Uber, and Verizon. These companies are sending an important signal that there will be rapid growth in demand for products and services that help reduce carbon emissions. For more information visit www.theclimatepledge.com.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.
About Global Optimism
Global Optimism exists to precipitate transformational, sector-wide change. Achieving a zero emissions future is not a far-off challenge. It’s one we must get on track for now. Every scientific assessment shows that to meet the goal of net -zero emissions by 2050, to keep global heating below 1.5 degrees Celsius, we must halve our emissions between 2020 and 2030. Tackling the climate crisis is only possible when everyone, everywhere plays their part. We work with like-minded collectives from all sectors who are willing to invest in the choices required to be on this challenging – and life-affirming – journey. For more information, visit https://globaloptimism.com/.
Amazon.com, Inc.
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HOUSTON--(BUSINESS WIRE)--Calpine Corporation today announced that it intends to offer $1,000,000,000 in aggregate principal amount of its Senior Secured Notes due 2031 in a private placement. The notes will be guaranteed by each of Calpine Corporation’s current and future subsidiaries that is a guarantor under Calpine Corporation’s first lien credit facilities. The notes and related guarantees will be secured equally and ratably with the indebtedness incurred under Calpine Corporation’s first lien credit facilities and other indebtedness that is permitted to be secured by such assets, by a first-priority lien on substantially all of Calpine Corporation’s and certain of the guarantors’ existing and future assets, subject to certain exceptions and permitted liens.
Calpine Corporation intends to use the net proceeds from this offering, together with cash on hand (if necessary), to (i) repay a portion of the borrowings outstanding under its first lien term loan facility maturing in 2024 (the “2024 First Lien Term Loan”), (ii) redeem and/or purchase pursuant to a tender offer a portion of its outstanding 5.250% Senior Secured Notes due 2026 (the “2026 Notes”) and (iii) pay premiums, fees and expenses relating to the repayment of the 2024 First Lien Term Loan and the redemption and/or purchase of 2026 Notes. Any net proceeds from the offering in excess of that used for the purposes described above will be used for general corporate purposes, which may include repayment of existing debt.
The notes will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States without registration under the Securities Act or pursuant to an applicable exemption from such registration. The notes mentioned herein may be offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and nor shall there be any offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. This announcement does not constitute an offer to purchase, the solicitation of an offer to sell, or a notice to redeem any of the 2026 Notes.
About Calpine
Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Our fleet of 76 power plants in operation, including one under construction, represents nearly 26,000 megawatts of generation capacity. Through wholesale power operations and our retail businesses, Calpine Energy Solutions and Champion Energy, we serve customers in 23 states in the United States and in Canada and Mexico. Our clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. We are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid.
Forward-Looking Information
In addition to historical information, this release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We use words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will,” “should,” “estimate,” “potential,” “project” and similar expressions to identify forward-looking statements. Such statements include, among others, our ability to consummate the offering of the notes on the terms described or at all, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. We believe that the forward-looking statements are based upon reasonable assumptions and expectations. However, you are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Our forward-looking statements speak only as of the date of this release. Other than as required by law, Calpine Corporation undertakes no obligation to update or revise any such statements, whether as a result of new information, future events or otherwise.
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The relationship brings together decades of energy project finance and electric vehicle (EV) infrastructure experience to develop strategies for fleet electrification
HOUSTON--(BUSINESS WIRE)--Pickering Energy Partners (PEP), a Houston-based energy financial services firm, today announced a new partnership providing support for electrification of public and private vehicle fleets. The collaboration will build on the strong momentum seen in the EV market and will evaluate turnkey solutions for clients looking to transition to electric vehicle fleets, utilizing the group’s development expertise and financing capabilities.
PEP’s 150 years of collective experience in the energy and financial services sectors will be combined with oversight from Glen Stancil, founder of eMotive Solutions and an expert in EV charging infrastructure. Previously, Mr. Stancil was Co-founder and COO of EVgo and began his career at Reliant Energy and McKinsey & Company.
With numerous companies and municipalities committing to the energy transition, momentum behind fleet electrification will continue to grow over the coming years. While special purpose acquisition companies (SPACs) have brought capital into the EV sector, it has been focused on larger transactions and startup companies, generally overlooking project finance or customer-based solutions. PEP will be a trusted resource and financing partner to a diverse set of customers looking to build or expand their EV fleets.
“At Pickering Energy Partners, we’re always looking for ways to help our clients attack the future of the energy industry,” said Dan Pickering, Chief Investment Officer of Pickering Energy Partners. “Our firm’s planned partnership and expansion into the electric vehicle sector, focused on financing and development capital, will bring our expertise to this emerging sector as part of an ongoing focus on the energy transition.”
PEP’s venture into the EV infrastructure sector furthers the firm’s commitment to serve client needs created by the energy transition. The energy transition opportunities the firm is pursuing are very narrowly focused on the critical investment needed to support the shift from hydrocarbons to electrification. Earlier this year, PEP formally launched an energy consulting practice that provides institutional and corporate clients with strategic energy knowledge, an extensive industry network, and investment expertise while also helping them address energy transition and Environmental, Social, Governance (ESG) issues.
To learn more about PEP’s electric vehicle infrastructure finance capabilities, consulting capabilities and other business offerings, click here to visit PEP’s website or contact Walker Moody at (713) 804-7577.
About Pickering Energy Partners The original Pickering Energy Partners (PEP) was founded in early 2004 by Dan Pickering as an institutional energy research firm before subsequently partnering with Bobby Tudor and Maynard Holt in 2007 to become Tudor, Pickering, Holt & Company. Today's Pickering Energy Partners takes an entrepreneurial approach to a global natural resources-focused financial services platform with customized asset management strategies and a high impact consulting capability. Headquartered in Houston, Texas, PEP delivers an experienced, opportunistic team that aims to provide guidance and long-term value for clients while having a positive impact on the companies and communities that PEP invests in. For more information, please visit www.PickeringEnergyPartners.com. PEP is an SEC Registered Investment Advisor located in Houston, Texas. PEP does not provide corporate advisory or investment banking services on energy-related transactions.
Walker Moody at (713) 804-7577
Network of Purpose-Built Tracks Announced As Part Of Ambitious New Worldwide Motorsports Championship
Transformational Electric Competition Coming in 2022
LOS ANGELES--(BUSINESS WIRE)--#NRX--In two short years since being created by motorsports icon Travis Pastrana and Nitro Circus, Nitro Rallycross (NRX) and its unparalleled action has attracted the best drivers, teams and manufacturers from around the world. Now the race that competitors hail as motorsport’s innovative future announces its next evolution: a full standalone championship series. Five races, each on purpose-built tracks, will kick things off in 2021 ahead of a full 10-stop integrated global championship across North America, Europe and the Middle East in 2022. Fundamental to the new championship is a revolutionary electric vehicle supercar class which will be introduced in 2022. For more about Nitro Rallycross and to get a taste of its full throttle action, go here.
“Since day one, I have truly believed that Nitro Rallycross has the potential to be the most exciting motorsports series on the planet. When we built the first NRX course in Utah we knew we had something special - from the drivers’ genuine smiles to the astonished fans as cars flew side-by-side over 100-foot jumps,” Travis Pastrana says. “Now, as we get ready for the next chapter of NRX, I’m more convinced than ever that this will bring top drivers from all disciplines to challenge themselves as their teams push the envelope in vehicle development. It’s going to be a hell of a ride and this is only the beginning.”
“The vision for Nitro Rallycross and the new FC1-X electric vehicle that has been developed is everything you look for as a driver,” says Johan Kristoffersson, newly crowned 2020 world champion. “This series is the perfect platform to showcase the new electric vehicles that are being produced and also provides the best test for us, as drivers to showcase our skills”
“From our very first race in Utah, we knew that Nitro Rallycross was destined to be a disruptive force in motorsports,” says Joe Carr, CEO of Thrill One Sports & Entertainment, parent company of Nitro Circus. “NRX was built for the next generation of fans and consumers – unrivaled tracks, elite electric vehicles, short-form racing and marquee drivers. We are excited to expand to five races in 2021 and then launch our full electric series globally in 2022.”
Industry Acclaim Spurs International Expansion:
Dubbed, “The best, the wildest rallycross track ever built in the history of rallycross,” by global motorsports star Ken Block, proclaimed as, “The most unique, exciting, fun, amazing rallycross track ever built,” by record-breaking driver Tanner Foust and introduced as, “Welcome to rallycross 2.0… Nitro Rallycross and Travis Pastrana have taken rallycross to another level,” by world champion Mattias Ekstrom, NRX has redefined four-wheel motorsports in every way.
Fueled by that industry acclaim, Nitro Rallycross will add four unique, purpose-built tracks for its 2021-2022 calendar in addition to its benchmark Utah showing. The lights will go green where it all began - at Utah Motorsports Campus just outside of Salt Lake City, UT next September with more races to follow in Washington state and Nevada in October, Arizona in November and Quebec in January 2022. The ten-race integrated world championship will kick off soon thereafter and will run through the year.
All of these competitions will feature purpose-built permanent tracks in keeping with the spectacular size and scope of Nitro Rallycross’ original Utah home, but with a wide variety of locations reflecting each race’s unique environs. Every track will be different, with diverse settings and surfaces ranging from urban areas with paved streets to remote expanses with dirt and ice tracks. Each location will also showcase extraordinary backdrops encompassing deserts, forests, mountains, cityscapes and more.
From the beginning, rallycross leaders have been very supportive of the progressive vision behind Nitro Rallycross and were deeply involved in the planning for its growth. Carr notes, “This is not a new series concept based solely on renderings. Over the past two years, Travis and the Nitro Rallycross team have delivered a proof of concept to rave reviews and there is now demand to take the sport to the next level.” He adds, “Given the disruption and uncertainty around the 2021 rallycross calendar, the industry is looking for stability now more than ever and to align with the best platform to showcase their vehicles, driving abilities and provide the biggest possible audience for their commercial sponsors. Nitro Rallycross is ready to deliver on all fronts.”
An Electric Future
This news, which also includes the official unveiling of a sleek and sophisticated new logo, marks just the first stage of Nitro Rallycross’ strategic expansion. Looking further ahead, the property will accelerate its transformation of four-wheel racing with the debut of a next-generation electric competition - to run in parallel with its internal combustion competition - in 2022.
Nitro Rallycross organizers have worked closely with several top manufacturers such as Ford, Volkswagen and Subaru among numerous other OEM’s to develop the body for a ground-breaking vehicle platform with extraordinary performance abilities. The result of this collaboration is the innovative FC1-X, an all-new vehicle developed in partnership with First Corner, comprised of leading electric mobility company QEV Technologies and long-time rallycross team operator Olsbergs MSE.
The FC1-X is now fully developed and primed to begin testing in February. While based on an electric SUV platform, it is a pure racing machine through and through. The highest performing vehicle ever in the sport, it produces 1,000+ peak HP with all-wheel drive, is capable of three G’s of acceleration and can rocket from zero to 60-mph in under 1.5 seconds.
Andreas Eriksson of First Corner says, “We have been working with many leading OEM’s for over 24 months on the FC1-X. The end product is a testament to the collaborative approach to deliver the very best vehicle in electric motorsports that the OEM’s will be proud of. This vehicle will accelerate almost twice as fast as its nearest competitor and other proposed electric offerings currently on the drawing board.” Eriksson expands on the platform’s anticipated commercial impact, “With the electric SUV category the fastest growing category for auto manufacturers, FC1-X and Nitro Rallycross will provide the perfect platform for OEM’s to highlight their new models rolling off the production line across the globe and generate a global fervour for their new vehicles, which will translate to purchases.”
Global Media Reach
Fans around the world will be able to check out all the action of Nitro Rallycross on a variety of platforms. Organizers are in the final stages of selecting a major U.S. TV broadcaster as well as a global live streaming partner. In addition, the series will be available on television in over 130 countries. Nitro Circus’ 25 million strong social audience, combined with exclusive partnerships with leading social platforms, will also provide an unmatched ready-made digital audience.
Industry-Leading Partners
Foundational Nitro Rallycross partner, Red Bull, has extended their multi-year alliance with the series in a further endorsement of the vision and direction of the property. Another foundational sponsor, Yokohama Tires, has also committed to the series, producing tires as the official tire partner for series.
About Nitro Rallycross:
Created in 2018 by motorsports icon Travis Pastrana and the innovators of Nitro Circus as part of the Nitro World Games, Nitro Rallycross has successfully transformed and injected new life into the sport. With its innovative, purpose-built track designs - featuring the largest jumps in rally, banked turns, and more lines for close head-to-head competition - Nitro Rallycross creates exhilarating, thrill-packed racing unlike anything seen before. All in all, its groundbreaking custom-built course designs, featuring banked corners, multiple line choices, tabletop jumps, and massive gap jumps, create unrivaled racing excitement. For the latest updates go to www.nitrorallycross.com and follow us on Instagram and Facebook.
Nitro Rallycross’ global expansion is the latest initiative from Thrill One Sports and Entertainment, parent company of Nitro Circus, Street League Skateboarding and Superjacket Productions. Thrill One has the backing of leading sports investment firms The Raine Group and Causeway Media Partners (one of the initial investors behind Formula E. Nitro Rallycross will add another electric motorsports property to their portfolio) Go to www.thrillone.com for more information.
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Photo Assets: Available for download here
Additional image available at Red Bull Content Pool
Video Assets: Long form and :60 sec sizzles available for download here
Embeddable YouTube links here (long form version) and here (:60 sec version)
Logo Assets: Available for download here
LOS ANGELES--(BUSINESS WIRE)--Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced that it is partnering with MIVOLT on a fully submerged battery cooling system for the FF 91 luxury EV. MIVOLT will provide FF with advanced dielectric coolant materials that will support FF’s existing patented liquid cell submerged onboard cooling system, which includes a self-contained and fail-safe architecture battery pack design.
FF and MIVOLT recently collaborated on “Going Further,” a live, joint webcast that took an in-depth look at EV battery technology using submerged cooling. Experts from both companies – including Nicolas Bel, Senior Lead Thermal Engineer at FF – explained the benefits of the FF submerged cooling system using MIVOLT fluids as a dielectric coolant. A video of the webcast can be found here: https://youtu.be/sA7U_o19xtk
“We are thrilled to have the opportunity to partner with MIVOLT, a proven global leader in immersion cooling fluids, including the automotive space,” said Bob Kruse, Senior Vice President, Product Execution and Vehicle Engineering at Faraday Future. “At FF, we are working with leading-edge technology partners to advance our technological innovations, and MIVOLT continues to build on a reputation for innovative products and superior technical knowledge.”
FF’s battery pack is a key system of its Variable Platform Architecture (VPA) that supports extraordinary vehicle capabilities such as ranges up to 378 miles and acceleration times as low as 0 to 60 mph in 2.39 seconds.* FF’s VPA also allows the FF 91 to fast charge at a rate of 500 miles of range per hour. These industry-changing numbers require a sophisticated system to deliver them safely and efficiently and such a system is directly tied to the thermal management of the battery pack.
FF explored numerous different cooling methods as the VPA was designed. After a wide-ranging evaluation, the FF team came up with a unique solution: a fully submerged system. In 2015, FF pioneered a patented cooling scheme where all major battery components are submerged in coolant.
The battery cells perform their best at temperatures near room temperature, and, as they release or store energy, they tend to get hot, so the cooling scheme becomes a crucial part to ensure top performance during the useful life of the vehicle. The coolant FF chose is a non-conductive liquid with excellent thermal properties that allows the pack to have uniform temperature across all its components. With the coolant surrounding every inch of cells, current collectors, and control units, we achieve stable temperatures between modules and strings, enabling the battery pack to better respond to the high demands of our vehicle.
The cooling system also eliminates potential risk of corrosion as all electrical components and their connections are submerged in the fluid. FF engineers reduced the spacing between cells and increased the total energy density of the pack, as the coolant can flow freely even at millimetric distances. Also, it provides a natural dampening effect relative to component vibration. The pack used in the FF 91 incorporates an innovative coolant flow design enabling each cell to be individually cooled.
FF continuously strives to incorporate new ideas to improve vehicle performance, reliability, safety, and user-focused features in FF’s overall design ideology.
From expressive aerodynamic exteriors to thoughtfully improved and driver-focused technologies, our talented engineers and designers embrace this vision and pursue exciting new approaches to remedy long-standing issues in the traditional automotive industry.
According to FF’s production launch plan, FF 91 will kick off production approximately nine months following the closing of a successful round of funding. The newly announced FF 81 EV and development preparation for future models and next generation core technologies will follow the introduction of FF 91.
ABOUT FARADAY FUTURE
Established in May 2014, Faraday Future (FF) is a California-based global shared intelligent mobility ecosystem company, headquartered in Los Angeles. FF's vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the internet and new usership models. With the FF 91, FF has envisioned a vehicle that redefines transportation, mobility, and connectivity, creating a true “third internet living space,” complementing users’ home and smartphone internet experience.
ABOUT M&I MATERIALS
M&I Materials is an independent, privately owned British company whose roots can be traced back to 1901. They export their specialist materials to 60+ countries around the globe from their Trafford Park base and have an expanding network of international offices and production facilities across the Americas, Africa, Middle East, Europe and Asia Pacific. The company counts household names such as Siemens, ABB, Boeing, CERN and NASA among its client base client base, and provides to a wide range of sectors including power and aerospace, to nuclear medicine and high-performance motorsports.
MIVOLT, the range of dielectric liquids M&I Materials has engineered for the EV market, acts as an immersion coolant for both EV batteries and charging points, preventing overheating. Manufacturers can therefore safely increase power output for higher performance EVs and enable superfast charging. Better protection from thermal stress also increases battery longevity and range. As non-conductive fluids, MIVOLT can come into direct contact with electronic components, which is both a more effective method of heat removal and a lighter-weight option than other designs relying on pipework to conduct coolant, or cooling plates.
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*Projected range up to 378 miles when variant equipped with 6 battery strings and 1 motor. Zero-60 mph time captured in variant equipped with 6 battery strings and 3 motors.
FORWARD LOOKING STATEMENTS
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used herein, words such as “address,” “anticipate,” “believe,” “consider,” “continue,” “develop,” “estimate,” “expect,” “further,” “goal,” “intend,” “may,” “plan,” “potential,” “project,” “seek,” “should,” “target,” “will,” and variations of such words and similar expressions as they relate to FF or the proposed transactions are often used to identify such statements as “forward-looking statements.” Such statements reflect the current views of FF and its management with respect to future events, including the proposed transactions, and are subject to certain risks and uncertainties that may cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements.
For More Information About Faraday Future, Contact:
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Industry First Use Case of Blockchain-Based Smart Contracts in Global Contract Drilling, Capital Equipment Sales, Drilling Services, Repairs and Maintenance Services
Data Gumbo Moves Into Another Segment of Oil & Gas Ripe for Digital Improvements
HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo, the trusted industrial blockchain network, today announced that HENDERSON, a leader in the sales and services for drilling rigs and capital equipment, has adopted Data Gumbo’s GumboNet™ for smart contract deployment with its contract drilling clients and equipment services ecosystem. This is the oil & gas industry’s first use of blockchain-based smart contracts between capital equipment sales, services, repair and maintenance operations, and signals a new avenue in oilfield services tapping the power of GumboNet.
“We sought out Data Gumbo based on the transparency, accuracy, efficiency and trust that their network will bring to our business’s ecosystem of sales, services and technicians across drilling,” said Dan Henderson, Founder and CEO of HENDERSON. “We’re excited about this engagement and rolling out the technology across our partner and customer base in 2021 and beyond, as well as joining a network that gives us access to a broader group of contractors.”
HENDERSON will use GumboNet smart contracts to create certainty in transactions from equipment services to commissioning and installation, mitigating financial and operations risk for both parties involved. Drilling contractors and service providers will also utilize digital confirmation of completed work and shipped goods for improved operational efficiency.
“HENDERSON is a perfect fit to leverage the benefits of our smart contracts across their business, and we look forward to helping create trust in transactions, capture value leakage for counterparties, and enable seamless business services,” said Andrew Bruce, CEO, Data Gumbo. “The network will enable their partners and customers to agree faster on terms, service more efficiently and reduce risk in transactions.”
GumboNet integrates specific transactional data with automated smart contracts powered by blockchain technology as a network of companies, customers, suppliers and vendors. By providing a single immutable record of truth, GumboNet synchronizes data across counterparties for transparency that frees up working capital, reduces contract leakage, enables real-time cash and financial management, and delivers provenance. Company, commodity and ticketing systems agnostic, Data Gumbo stores all data directly on its network with full auditable records for a modern process that creates touchless transactions and crushes transactional waste.
About HENDERSON
Based in Houston, Texas, HENDERSON is the name global drilling contractors trust to sell, source, repair, refurbish, recertify and provide field-service for drilling rigs and equipment. For more information, please visit www.hendersonrigs.com.
About Data Gumbo
Data Gumbo provides transactional certainty for tomorrow’s industrial leaders through GumboNet™, a massively interconnected industrial blockchain network. With integrated real-time capabilities that power, automate and execute smart contracts, our network reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Headquartered in Houston, Texas, Data Gumbo has a subsidiary office in Stavanger, Norway. To date, the company has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. For more information, visit www.datagumbo.com or follow on LinkedIn, @DataGumbo and Facebook.
Media contact:
Gina Manassero
Data Gumbo
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DUBLIN--(BUSINESS WIRE)--The "Wind Turbine Market in India & South East Asia Outlook Update H2 2020" report has been added to ResearchAndMarkets.com's offering.
Imports of Wind turbine to India took a massive hit in H1 2020 due to supply chain restrictions, market returning to "Business As Usual" mode in H2 2020
Wind installations levels in India have significantly declined after the reverse auction mechanism was introduced in the wind sector after several years of growth. Moreover, India installed only 2.4 GW (1.23 GW in H1 2019) of wind capacity in 2019 which is close to 34% below the estimated targeted wind capacity. The dismal response of the wind capacity addition is mainly attributed to the financial stress of turbine makers, land acquisition issues and grid connectivity delays resulting in denting investors sentiments in wind segment.
However, COVID-19 outbreak has effected the supply chains that begin in or go through China. As a result of the factory shutdowns in China during H1 2020, many disruptions have been felt across the supply chain including the imports. Consequently, India turbine market take a hit due to restrictions on transportation of wind turbine from China as vital parts such as gear box, yaw components, blades for rotor, sub-parts of such blades are imported, mostly from China. As economies are returning back to the normal, the wind projects are also returning to " Business as usual" mode in H2 2020.
Key Topics Covered:
Companies Mentioned
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Acquisition expands service markets for Fairbanks Morse and adds service support for customers
BELOIT, Wis.--(BUSINESS WIRE)--Fairbanks Morse, a leading provider of solutions that are powering the world forward, has acquired Breco International Inc., a leading diesel engine repair and rebuilding service provider. The move will expand service markets for Fairbanks Morse with commercial marine, oil and gas and locomotive, and will add service support for customers.
“Breco has an established track record of being customer-focused and operationally efficient and we are pleased to bring the Breco team and assets into Fairbanks Morse,” said George Whittier, CEO of Fairbanks Morse. “This acquisition opens up service markets for Fairbanks Morse and we intend to continue Breco’s business model of providing fast, cost-competitive solutions to customers.”
Breco International Inc. is a diesel engine parts and service company specializing in the ALCO brand. The company will continue to supply ALCO parts under the Breco name out of its Houston location, which includes a machine and engine rebuild shop. Breco has a large inventory of new and remanufactured engine replacement parts at its warehouse in Gig Harbor, Washington. Since 2001, Breco has offered diesel engine repairs and rebuilding on site and in the field.
“We are very proud of the successful business that we built over nearly two decades,” said Billy Rodgers, Owner of Breco International Inc. “We are confident that Fairbanks Morse will not only continue to provide the exceptional customer service for which we are known, but will grow the business as well.”
This acquisition follows Fairbanks Morse’s recent asset purchase agreement with Globe Turbocharger Specialties, Inc. Both moves demonstrate the company’s focus on providing critical aftermarket solutions and support to its customers.
About Fairbanks Morse
Fairbanks Morse manufactures and services heavy-duty, medium-speed reciprocating engines under the Fairbanks Morse® and ALCO® brand names, which are used primarily in marine and power generation applications. Fairbanks Morse has been the original equipment manufacturer of its engines for over 125 years and has a large installed base for which it supplies aftermarket parts and services. Fairbanks Morse is the principal supplier of diesel engines to the U.S. Navy, U.S. Coast Guard and Canadian Coast Guard. One hundred percent of manufacturing is conducted in its U.S. based facility in Beloit, Wis., while aftermarket parts and services are delivered through its growing network of service centers strategically located around the U.S. Fairbanks Morse is a portfolio company of Arcline Investment Management. Learn more about Fairbanks Morse by visiting www.fairbanksmorse.com.
Mercom Communications
Wendy Prabhu
1.512.215.4452
www.mercomcapital.com
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DUBLIN--(BUSINESS WIRE)--The "Europe Geosteering Technology Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Measurement-While-Drilling, Rotary Steerable Systems, Drive Systems, and Others and Application" report has been added to ResearchAndMarkets.com's offering.
According to this report the European geosteering technology market is expected to reach US$7,620.25 million by 2027 from US$4,190.86 million in 2019.
The market is estimated to grow at a CAGR of 11.7% from 2020 to 2027. The report provides trends prevailing in the Europe geosteering technology market along with the drivers and restraints pertaining to the market growth. Surge in demand for precise real-time information to achieve maximum production and increase in production of shale and resulting rise in horizontal and unconventional drilling are the major factor driving the growth of the Europe geosteering technology market. However, expensive materials and overall manufacturing process hinder the growth of Europe geosteering technology market.
In the case of COVID-19, Europe is highly affected specially UK and Russia. In Europe, several countries are expected to suffer an economic hit of the decline in business activities across the oil & gas sector due to lowering oil prices in the first quarter of 2020. Many of these member states have implemented drastic measures on imports & exports, and shipment of goods including partially closing their borders impacting the demand for energy in various industry verticals. This is anticipated to impact market growth of geosteering technologies and its associated services in Europe following the outbreak of pandemic. The lockdown is expected to continue negative impact on the geosteering technology market in Europe due to disruption in oil & gas sector and drilling activities across selected countries. However, as several countries begin to reopen industry vertical and subsequently drive the demand for energy is expected to resume the drilling activities to support the growth. Thus, the market is projected to recover steadily over the coming period and gain traction for geosteering technologies during the later forecast period.
The Europe geosteering technology market is segmented in terms of product, application, and country. Based on the product, the market is segmented into logging while drilling (LWD), measurement-while-drilling (MWD), rotary steerable systems (RSS), drive systems, and others. Logging while drilling (LWD) segment held the largest market share in 2019. Measurement-while-drilling (MWD) segment is expected to be fastest growing during forecast period. Based on the application, the market is segmented into petroleum development, natural gas transportation, and others. The petroleum development segment held the largest share of market in 2019 and is expected to be fastest growing segment during forecast period.
Cougar Drilling Solution Inc.; Emerson Paradigm Holding LLC; Exlog; Geonaft; Halliburton Energy Services, Inc.; ROGII Inc.; Schlumberger Limited are among the leading companies in the Europe geosteering technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Schlumberger Limited entered in JV with Rockwell Automation Inc. to develop Sensia, the oil and gas industry's pioneer of digital enabled automated integrated solution.
Reasons to Buy
Market Dynamics
Drivers
Restraints
Opportunities
Future Trends
Companies Mentioned
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HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) and Accenture (NYSE: ACN) today announced they have teamed to accelerate Halliburton’s digital supply chain transformation and support digitalization within the Company’s manufacturing function.
Beginning in 2021, Halliburton will launch a new global hub-and-spoke supply chain and manufacturing service model supported by new technologies. This new delivery platform will apply advanced analytics and enhanced business intelligence tools for its support teams to improve service levels and unlock operational benefits. This transformation further supports Halliburton’s strategic priority to accelerate digital deployment and integration across the value chain, driving better service for its customers and returns for its shareholders.
Accenture will work with Halliburton to:
“This transformation allows Halliburton to improve service levels and business outcomes by optimizing our investments across supply chain and manufacturing infrastructure,” said Lawrence Pope, Halliburton executive vice president of Administration and chief Human Resources officer.
Accenture will leverage its SynOps platform to accelerate Halliburton’s digital transformation across its supply chain and manufacturing functions. Accenture will augment its unique capabilities with Halliburton’s existing technologies to provide teams with more advanced tools to do their work, enhancing real-time decision-making and actionable insights across supplier performance, demand planning, logistics and inventory management.
“Halliburton’s strong digital foundation is critical to making its supply chain and manufacturing functions more responsive, resilient and able to adapt to changing market needs,” said Manish Sharma, group chief executive of Accenture Operations. “We are proud to help Halliburton accelerate this transformational change to better position it for the future.”
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 140 nationalities in more than 80 countries, the Company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
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.
For Halliburton
Investors:
Abu Zeya
Halliburton, Investor Relations
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281-871-2633
Media:
Emily Mir
Halliburton, Public Relations
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281-871-2601
For Accenture
Jenn Francis
Accenture Media Relations
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630-338-6426
NEW YORK--(BUSINESS WIRE)--Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Soyun Park has joined the firm’s Energy, Infrastructure and Project Finance Team and the Tax, Employee Benefits, and Trusts and Estates practice group as a partner in the New York office. Park joins from Winston & Strawn. She is the 14th partner to join Sheppard Mullin in 2020.
"We’ve added some incredibly smart and talented tax attorneys to our team over the past few years as we continue building our transactional practices,” said Jon Newby, vice chairman of Sheppard Mullin. "Soyun is a first-class attorney with a wealth of knowledge and experience that makes her a valuable addition to our Energy Team and Tax practice group. We’re thrilled she’s joined us."
Amy L. Tranckino, leader of the firm’s Tax, Employee Benefits, and Trusts and Estates practice, added, "Soyun will bring her transactional and structuring skills to clients in the renewable energy sector, many of whom have parent companies overseas and multiple overseas investments. Her experience also dovetails with our existing international tax capabilities and our robust Korea practice. Her ability to help clients navigate tax implications on a wide range of issues and her international tax planning experience will be of great benefit to our cross-border clients."
Park concentrates her practice on international tax planning and transactional matters. She advises domestic and multinational clients in connection with their structural and transactional tax planning, including advice concerning domestic and cross-border mergers and acquisitions, financings, dispositions, restructurings, joint ventures, financial products, securities offerings, and other major transactions. At Sheppard Mullin, Soyun will focus her efforts on renewable energy transactions, international tax planning, and expanding the firm’s Korea practice. Park earned her B.S. from Columbia University, her J.D. from Georgetown University Law Center, and her LL.M. from New York University School of Law.
About Sheppard Mullin’s Tax, Employee Benefits, and Trusts and Estates Practice
Sheppard Mullin's tax attorneys provide sophisticated advice in all areas of corporate, partnership, real estate, renewable energy, tax credit transactions, and international taxation; employee benefits; executive compensation; private equity and hedge fund formation and operation; debt and equity financing and derivative and hybrid securities; tax-exempt organizations; and estate planning and wealth transfer. Based on our understanding of evolving and complex tax law, we are often able to design sophisticated transactions that are advantageous for our clients.
About Sheppard, Mullin, Richter & Hampton LLP
Sheppard Mullin is a full-service Global 100 firm with more than 900 attorneys in 15 offices located in the United States, Europe and Asia. Since 1927, industry-leading companies have turned to Sheppard Mullin to handle corporate and technology matters, high-stakes litigation and complex financial transactions. In the U.S., the firm's clients include almost half of the Fortune 100. For more information, please visit www.sheppardmullin.com.
KARA EYER
(312) 499-0533
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HOUSTON--(BUSINESS WIRE)--Maverick Natural Resources, LLC (“Maverick” or the “Company”) announced today that it has acquired FourPoint Energy, LLC (“FourPoint”), the largest producer in the Western Anadarko Basin. In conjunction with the all-equity merger, FourPoint became a wholly owned subsidiary of Maverick and was renamed Unbridled Resources, LLC (“Unbridled”). Both Maverick and FourPoint are majority controlled by EIG Global Energy Partners (“EIG”) managed funds.
The acquired assets produce approximately 50,000 net barrels of oil equivalent per day (47% liquids) from Western Oklahoma and Northern Texas. The Unbridled position spans 700,000 acres across the core of the Granite Wash and Cleveland Sand plays. The acquisition also included MidPoint Midstream, LLC and Wheeler Midstream, LLC, which provide midstream services in the Western Anadarko Basin.
Chris Heinson, Maverick’s CEO, commented, “The acquisition of FourPoint demonstrates Maverick’s ability to translate its best-in-class operational proficiency into significant growth.”
Heinson continued, “Over the last several years, Maverick has become a leader in reducing costs in mature assets. Maverick’s transformation process allows us to rapidly deploy technology and analytics to drive reductions in G&A and lease operating expense. By renaming FourPoint Energy to Unbridled Resources, we are signaling a shift from the traditional shale model to Maverick’s margin-focused operational strategy. These assets add to Maverick’s substantial portfolio of long-lived assets. Further, the all-equity transaction ensures the combined Company will retain a healthy financial position with a 2020 pro forma debt to EBITDA ratio of approximately 0.5x.”
Heinson concluded, “With our proven track record of safe, environmentally responsible operations and significant operational scale, we are exceptionally well-positioned to acquire additional producing assets.”
As part of the merger, EIG is adjusting the board composition to support the increased scale of the Company and the plans for continued growth and strategic development. Linda Z. Cook, Managing Director of EIG and CEO and board member of Harbour Energy, will join the Maverick board as Chairman and Jim Blackwell, an industry veteran who is also a board member of Harbour Energy, will join as well.
About Maverick Natural Resources, LLC
Maverick Natural Resources is an oil and gas organization headquartered in Houston, Texas. Maverick operates in thirteen states and specializes in management of mature upstream assets through application of automation and data-science technology. Maverick is majority-owned by EIG Global Energy Partners. To learn more, visit www.mavresources.com.
About EIG
EIG is a leading institutional investor to the global energy sector with $21.9 billion under management as of September 30, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 38-year history, EIG has committed over $34.4 billion to the energy sector through more than 360 projects or companies in 36 countries on six continents. EIG's clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG's website at www.eigpartners.com.
Linda Cook retired from Royal Dutch Shell plc in 2010, at which time she was a member of the Board of Directors and the Executive Committee. During her 29 years with Shell, she held positions including CEO of Shell Gas & Power (London and The Hague); CEO of Shell Canada Ltd. (Calgary); EVP Strategy & Finance for Global Exploration & Production (The Hague); and various U.S. Exploration & Production management, operational and engineering roles.
Before his retirement from Chevron Corporation, Jim Blackwell served as EVP, Technology and Services. Earlier in his career at Chevron, he served as President of Chevron Asia Pacific Exploration and Production Company; Managing Director for Chevron’s Southern Africa strategic business unit; and President of Chevron Pipe Line Company.
Maverick
Sarah Payne—Media
713.437.8084
Andrew Rowe—Business Development
713.437.8020
EIG
Kelly Kimberly and Brandon Messina, Sard Verbinnen & Co
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212-687-8080
NEW YORK & LOS ANGELES--(BUSINESS WIRE)--RMG Acquisition Corp. (the “Company”) announced the nomination of Paul Williams for election at a special meeting of stockholders of the Company to serve on the board of directors of the combined company upon consummation of the previously announced merger between the Company and Romeo Systems, Inc. (“Romeo Power”).
Prior to his retirement in 2018, Mr. Williams served as a Partner and Managing Director of Major, Lindsey & Africa, LLC, an executive recruiting firm, where he conducted searches for board members, CEOs and senior legal executives from 2005 to 2018. He also served as Director of Global Diversity Search, assisting legal organizations in enhancing their diversity. From 2001 to 2005, Mr. Williams served as Executive Vice President, Chief Legal Officer & Corporate Secretary of Cardinal Health, Inc. Since 2009, Mr. Williams has served as a member of the board of directors of Compass Minerals International, Inc. (NYSE: CMP). Since early 2020, Mr. Williams has served on the board of directors of several funds in the American Funds mutual fund family (part of the privately held Capital Group). Mr. Williams previously served on the boards of directors of State Auto Financial Corporation, Bob Evans Farms, Inc. and Essendant, Inc. (f/k/a United Stationers Inc.). Mr. Williams is a member of the Economic Club of Chicago, and has served as president of the Chicago chapter of the National Association of Corporate Directors since 2017. Mr. Williams received an undergraduate degree, cum laude, from Harvard and a J.D. from Yale Law School.
Romeo Power and the Company previously announced a definitive agreement for a business combination that would result in Romeo Power becoming a publicly listed company. If elected, the board of the public company upon the consummation of the business combination will consist of Mr. Williams and the other candidates previously announced by the Company nominated for election listed below:
A proxy statement, once final, will be mailed together with a proxy card to the Company’s stockholders. The final proxy statement will include the date, time and location of the special meeting.
About RMG Acquisition Corp.
RMG Acquisition Corp is a special purpose acquisition company whose management and board has deep experience in power, renewable energy, environmental services, energy technology and corporate governance. RMG’s team includes top level executives from Goldman Sachs, Carlyle Group, Cogentrix Energy, Deloitte & Touche, Access Industries, Calpine Corporation (CPN) and Riverside Management Group. For additional information, please visit http://www.rmgacquisition.com.
About Romeo Power
Romeo Power, founded in 2016 in California by Michael Patterson, is an industry leading energy technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles. Through its energy dense battery modules and packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer lasting batteries with shorter charge times. With greater energy density, Romeo Power is able to create lightweight and efficient solutions that deliver superior performance, and provide improved acceleration, range, safety and durability. Romeo Power’s modules and packs are customizable and scalable, and they are optimized by its proprietary battery management system. The company has approximately 100 employees and more than 60 battery-specific engineers and a 113,000 square foot manufacturing facility in Los Angeles, California with key battery development capabilities performed in-house. On October 5, 2020, Romeo Power and RMG Acquisition Corp. (“RMG”) (NYSE: RMG), a special purpose acquisition company, announced a definitive agreement for a business combination that would result in Romeo Power becoming a publicly listed company. Upon closing of the transaction, the combined company will be named Romeo Power, Inc. and is expected to remain listed on the NYSE and trade under the new ticker symbol “RMO.” For additional information on Romeo Power, please visit https://romeopower.com.
Important Information and Where to Find It
This press release relates to a proposed transaction between RMG and Romeo Power. RMG has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that includes a proxy statement/consent solicitation statement/prospectus. The proxy statement/consent solicitation statement/prospectus will be mailed to stockholders of RMG as of a record date to be established for voting on the proposed business combination. RMG also will file other relevant documents from time to time regarding the proposed transaction with the SEC. INVESTORS AND SECURITY HOLDERS OF RMG ARE URGED TO READ THE PROXY STATEMENT/CONSENT SOLICITATION STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED BY RMG FROM TIME TO TIME WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the proxy statement/consent solicitation statement/prospectus and other documents containing important information about RMG and Romeo Power once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by RMG when and if available, can be obtained free of charge on RMG’s website at www.rmginvestments.com or by directing a written request to RMG Acquisition Corp., 50 West Street, Suite 40-C, New York, New York 10006.
Participants in the Solicitation
RMG and Romeo Power and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of RMG’s stockholders in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of RMG’s directors and officers in RMG’s filings with the SEC, including RMG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on April 1, 2019. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to RMG’s stockholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination is included in the proxy statement/consent solicitation statement/prospectus relating to the proposed business combination.
No Offer or Solicitation
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Forward Looking Statements
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside RMG’s or Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the transactions contemplated by the proposed business combination; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of cash available following any redemptions by RMG stockholders; the ability to meet the NYSE’s listing standards following the consummation of the transactions contemplated by the proposed business combination; costs related to the proposed business combination; Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; the performance of Romeo Power’s products; potential litigation involving RMG or Romeo Power; and general economic and market conditions impacting demand for Romeo Power’s products. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of RMG’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and proxy statement/consent solicitation statement/prospectus discussed below and other documents filed by RMG from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and neither RMG nor Romeo Power undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Romeo Power
For Investors
ICR, Inc.
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ICR, Inc.
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RMG Acquisition Corp.
Philip Kassin
Chief Operating Officer
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212-785-2579
NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH) the leading provider of environmental and industrial services throughout North America, today announced that Chief Financial Officer Michael L. Battles, EVP Corporate Planning and Development Brian P. Weber and SVP Investor Relations Jim Buckley will be participating in a fireside chat at the BMO Capital Markets 2020 Growth & ESG Conference.
Clean Harbors’ presentation will take place at 2:00 p.m. ET on Tuesday, December 8, and will be webcast live. To access the live or archived webcast, visit the “Investor Relations” portion of Clean Harbors’ website at www.cleanharbors.com.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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Seismic and well data management portal iGlass now features Elasticsearch technology
HOUSTON--(BUSINESS WIRE)--#datamanagement--Katalyst Data Management has launched a new subsurface data search engine, powered by Elasticsearch, in the latest release of their iGlass data management solution. The new release, named iGlass Portal ES, gives oil and gas companies the ability to use freestyle text searches on their seismic and well data volumes. This release marks the first time that Elasticsearch technology has been applied to an E&P subsurface data management solution.
Similar to search technology used for online shopping and searching, iGlass Portal ES harnesses the power of Elasticsearch, allowing users to search the entirety of their subsurface catalog with a simple textual search. Just like online searches return results from multiple websites, the Elasticsearch technology within iGlass Portal ES searches across multiple data domains, returning all results associated with the search text. Users can quickly find the seismic and well data they need without having to know specifically where to look within their subsurface database.
“This is game-changing technology for our iGlass platform; think about a Google-like search for all of your subsurface assets,” stated Katalyst President and CEO Steve Darnell. “Users across the oil and gas industry have come to expect the ability to perform textual searches when they consume content, and we’re thrilled to be the first company to fully leverage Elasticsearch for subsurface data management with iGlass Portal ES.”
For more information on the iGlass data management solution, visit katalystdm.com/iGlass.
Elasticsearch is a trademark of Elasticsearch BV, registered in the US and in other countries.
About Katalyst (www.katalystdm.com)
Katalyst Data Management provides complete subsurface data management and digital transformation services, assisting oil and gas companies with the challenge of managing ever increasing volumes of subsurface data acquired for exploration and production. Today, Katalyst manages over 80 petabytes of subsurface data from one of our five global locations – Houston, Calgary, London, Perth and Kuala Lumpur. Katalyst’s end-to-end data management services include every step in the subsurface data life cycle, from digital transformation and verification, to multi-cloud storage and organization, to data analytics and subsurface consulting. Katalyst’s signature offerings include the online iGlass solution for subsurface data management and the SeismicZone.com virtual brokerage for seismic data resale.
Steve Darnell, President and CEO
Katalyst Data Management
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+1 281.529.3202
James Lamb, Senior VP, Global Sales and Marketing
Katalyst Data Management
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+1 403.718.6202
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