LONDON--(BUSINESS WIRE)--#FiredHeatersMarket--The fired heaters market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the fired heaters market. Download free report sample
"One of the primary growth drivers for this market is the rise in global oil and gas refinery capacity”, says a senior analyst for Industrials at Technavio.
The rise in oil and gas demand has led to a significant increase in global refinery capacity. Many oil and gas E&P companies are focusing on the addition of new refineries or expanding existing refinery complexes. This is expected to create huge growth opportunities for market players during the forecast period. As the markets recover Technavio expects the fired heaters market size to grow by USD 135.78 million during the period 2020-2024.
Fired Heaters Market Segment Highlights for 2020
Regional Analysis
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Selected projects to reach more than 20,000 students nationwide in grade 6 through college
BALTIMORE--(BUSINESS WIRE)--#EnergyMadeEfficient--Constellation today awarded more than $500,000 in E2 Energy to Educate grants for student projects focusing on energy science, technology and education. The grant program is part of the commitment by Constellation, and parent company Exelon, to give back to the communities where they work and live and foster greater interest in STEM programs.
The 22 hands-on STEM projects awarded grants will reach more than 20,000 students, in grade 6 through college.
Selected projects include carbon reduction experiments, building and racing electric- and solar-powered cars, summer camps exploring renewable energy, and game-based learning for STEM and energy concepts. For the complete list of winning projects spanning 10 different states visit the E2 grants page.
“Though the clean energy landscape is constantly evolving, one thing remains the same — the importance of energy innovation and STEM education to prepare future energy leaders,” said Jim McHugh, Constellation CEO. “We’re committed to investing in and empowering young people from diverse backgrounds to help propel us toward a cleaner energy future, and we take immense pride in how Energy to Educate supports hands-on experiences that develop and inspire those students nationwide.”
Constellation’s Energy to Educate program is one example of an Exelon-wide commitment to foster workforce development solutions with the goals of igniting STEM in young minds, creating an expanded, diverse talent pipeline, and eliminating barriers to economic empowerment, particularly in underserved communities.
Since its inception in 2010, E2 has provided more than $4.5 million in funding for 163 projects that have reached more than 220,000 students and enhanced their understanding of energy-related science and technology issues. Grant recipients are announced each year during American Education Week. To learn more about the program, visit the community section of Constellation.com.
About Constellation
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than three-fourths of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with 2019 revenues of approximately $36 billion, and more than 31,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.
Dave Snyder
Constellation
410-470-9700
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DUBLIN--(BUSINESS WIRE)--The "Gas Station Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 6th edition of this report. The 137-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Gas Station Equipment Market to Reach $6.8 Billion by 2027
Amid the COVID-19 crisis, the global market for Gas Station Equipment estimated at US$5.3 Billion in the year 2020, is projected to reach a revised size of US$6.8 Billion by 2027, growing at a CAGR of 3.5% over the period 2020-2027.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 6.4% CAGR
The Gas Station Equipment market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 6.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 2.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/lwmnsc
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Appointment highlights the firm’s commitment to help the oil and gas industry address restructuring and turnaround issues
HOUSTON--(BUSINESS WIRE)--Leading global professional services firm Alvarez & Marsal (A&M) has promoted Managing Director Seth Bullock to Co-Head of the Southern Region for its North American Restructuring & Turnaround division alongside Managing Directors Brian Cejka and Jonathan Hickman. Mr. Bullock’s promotion strategically combines A&M’s deep restructuring capabilities and operational expertise to help oil and gas clients navigate current and anticipated disruption challenges.
Mr. Bullock leads A&M’s Oil & Gas Restructuring practice and advises distressed companies, lenders and creditors on both in-court and out-of-court restructurings and turnarounds. He has more than 20 years of restructuring, interim management, liquidity management, distressed investing, capital raising and distressed mergers and acquisitions (M&A) expertise concentrated across the energy spectrum, including exploration and production (E&P), oilfield service, midstream, biofuel / renewables, power and refining and marketing.
“Seth has been fundamental to the extraordinary growth and expansion of our restructuring work in the oil and gas industry and the Southern region,” said Jeff Stegenga, Managing Director and leader of Alvarez & Marsal’s North American Commercial Restructuring practice. “When Seth joined A&M in 2014, his goal was to build a world-class oil and gas restructuring practice. He has more than achieved this through steadfast dedication to the firm’s leadership, action, results approach and unwavering commitment to his clients. His accomplishment illustrates how A&M’s integrated platform and the firm’s heritage of operational excellence generate value for our clients while fostering opportunities for career growth.”
Lee Maginniss, a Managing Director with Alvarez & Marsal’s Corporate Performance Improvement practice, said, “Shifts within the oil and gas industry will reverberate with clients for years to come. Leaders such as Seth, coupled with A&M’s continued commitment to the sector, enhance our ability to address clients’ complex concerns with solutions spanning from turnaround advisory to operational improvement.”
Mr. Bullock earned a bachelor’s degree in finance from Loyola University, New Orleans. He is a CFA Charterholder and a member of the Turnaround Management Association. He continues to make his home in Houston, Texas, with his wife Rochelle and their four children.
About Alvarez & Marsal
Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.
With over 5,000 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.
To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedIn, Twitter, and Facebook.
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Bruce Bain to Create, Lead and Grow Network of Business Partners to Further Scale the Company, Provide Smart Contracts to Industry
HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo today announced that it has hired Bruce Bain as Vice President of Channels and Alliances. In this role, Bain will build and lead a network of business partners that will aid in commercially scaling GumboNet™, the company’s massively interconnected industrial blockchain network. Bain has more than 23 years experience leading global partner programs and managing top-performing channel partners at BMC, Oracle, NetIQ and SAP.
“Bruce has a proven and extensive track record of building sales velocity and customer success through technology partnership and channel programs. We are thrilled that he will build and manage our new ecosystem to further propel customer adoption,” said Andrew Bruce, CEO of Data Gumbo. “The experience that Bruce brings to the table around enterprise technology solution delivery, SaaS customer lifecycle success, channel leadership and sales growth will be critical to expanding adoption of GumboNet, as it’s now well recognized that solid and valuable alliance and partnership programs directly correlate to technology sales.”
Bain has been in the Houston technology industry and channel partner ecosystem for more than 25 years, including a focus on serving oil & gas and manufacturing-related industries. During his time at Oracle he repeatedly created successful Go-To-Market strategies to amplify and extend enterprise software solutions through partners (VAR, ISVs, MSPs and SIs). As well, at SAP he successfully managed partners’ evolutions from perpetual license sales to SaaS solutions.
“Data Gumbo is committed to providing partners with the best opportunities for engagement, and enabling their success by building incentives and marketing programs to support their connections,” said Bain. “The opportunity for channel partners to join in Data Gumbo’s journey is vast, as the need for our trusted transactional network is exploding across heavy-asset industries and global supply chains. I look forward to building a world-class, modern partner program with focus on influencers, implementation and retention as GumboNet adoption swells in 2021 and beyond.”
Bain holds a Master of Science in Computing and Information Science from Trinity University. He is also trained and has served as an Examiner for the Malcolm Baldrige National Quality Award program, and is a Predictive Index certified partner.
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.
Gina Manassero
Data Gumbo
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New Hire Represents Investment in Future Expansion
CAMPBELL, Calif.--(BUSINESS WIRE)--#energy--Tigo Energy, the worldwide leader in Flex-MLPE (Module Level Power Electronics) today announced that industry veteran Dru Sutton has joined Tigo Energy Inc. as its new VP of Sales for North America.
Sutton has significant experience in many facets of the solar industry including power electronics, battery storage, solar modules, and EPC (Engineering, Procurement, Construction). Tigo continues to invest to grow its business and Sutton is responsible for accelerating the company’s expansion in North America.
“Dru is an outstanding addition to our team,” said Zvi Alon, Chairman and CEO of Tigo. “His experience in the solar industry and as a commercial leader is already paying dividends for us.”
Prior to Tigo, Sutton held management positions in engineering, applications, marketing and sales at several international companies involved with solar installations, module manufacturing, distributed module electronics and inverter products including SolarEdge. Most recently, he was responsible for sales at Solaria, a Silicon Valley based high efficiency solar module company.
“Tigo is positioned extremely well in the solar industry. We are enhancing the safety and return on investment of solar installations for our customers, and I am excited to play a role in the company’s growth.” said Sutton.
Sutton installed his first grid-tied solar electric system on his California home in 1998 and holds a Bachelor of Science in Electrical Engineering from the University of California, Davis.
About Tigo
Tigo is the worldwide leader in Flex-MLPE (Module Level Power Electronics) with innovative solutions that significantly enhance safety, increase energy production, and decrease operating costs of photovoltaic (PV) systems. Tigo’s TS4 platform maximizes the benefit of PV systems and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on 7 continents and produce gigawatt hours of reliable, clean, affordable and safe solar energy daily. Tigo's global team is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Visit us at www.tigoenergy.com.
John Lerch
408.402.0802 x430
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Upgraded fleet of smart trailers and new predictive trailer routing capability provide shippers with unmatched visibility and tendering flexibility. Carriers can now book multi-stop loops as a single shipment, and earn up to $19,000 more annually per truck while reducing empty miles.
SEATTLE--(BUSINESS WIRE)--Convoy, the nation’s most efficient digital freight network, today announced enhancements to its drop-and-hook service, Convoy Go, that provide customers with more flexible, reliable capacity, superior service levels, and real-time load visibility. As the only digital freight company to offer a nationwide drop-and-hook service, Convoy extends its leadership today through predictive trailer routing, automated reloads with batched routes, and improved telematics in its smart trailers.
The challenge with drop-and-hook service has been the complexity of matching, tracking, and routing decoupled trailers and tractors. Most carriers and brokers address this problem manually, which often results in stale data and inaccurate forecasting that in turn limits their service to dense lanes with predictable shipments. These traditional drop-and-hook services are often unable to quickly scale to meet unexpected demand surges, forcing shippers to rely on the spot market and live loads, which drive up transportation costs and introduce logistical complications.
Convoy’s technology and innovative practices address these pain points and deliver even more flexible, reliable, and efficient drop-and-hook capacity for shippers, with a nearly 100% equipment availability rate, trailers delivered 24 hours before load times, 48% lower dwell times versus live shipments, deep visibility into every load, and reduced carbon emissions. These innovations include:
Predictive Trailer Routing: This enhancement proactively routes empty trailers to customers’ facilities, while simultaneously rebalancing Convoy Go’s trailer pool. To accomplish this, Convoy uses a machine learning model, predicting several weeks in advance how many trailers customers will need across hundreds of facilities nationwide. Convoy combines these forecasts daily with historical shipment data, GPS-based trailer locations, shipment assignments, inspection reports, and driver locations, feeding it all into an optimization model that analyzes billions of trailer route permutations, ultimately picking the most efficient solution.
Automated Reloads with Batched Routes: Since Convoy launched automated reloads, which combine headhauls with backhauls, shippers have benefitted from better service due to lower carrier falloff rates, and carriers have earned more through better asset utilization, all while preventing nearly three million pounds of CO2 emissions from entering the atmosphere. Now, automated reloads support batched routes for drop-and-hook, which combine three or more runs into a single multi-stop job, providing even greater efficiency for carriers and service quality for shippers. In addition, automated reloads can now combine multiple drop-and-hook and live loads into a single trip, further reducing empty miles and improving asset utilization.
Smarter Trailers, Powered by the Internet of Things: Every Convoy Go trailer is now equipped with advanced telematics, which, combined with Convoy data, provide unmatched visibility into each load. Combinations of ultrasonic, optical laser, and radar sensors deliver real-time information to Convoy’s cloud-based data lake. A machine learning model then analyzes this data to ensure shipments are progressing as planned, automatically flagging issues that require Convoy to course-correct. As a result, Convoy and its customers know if trailers are loaded and ready for pickup, if they’re being hauled by the correct driver, if the shipment needs more time, if the trailer is available for another shipment, if a trailer needs preventative maintenance, and how many new trailers are headed inbound to each facility for loading. This automated workflow enables Convoy Go’s nationwide fleet of thousands of trailers to be remotely monitored and managed by a handful of specialists, who can make any necessary adjustments even minutes before preloading.
“Supply chain teams prefer drop-and-hook for its speed and simplicity, but traditional programs are rigid and don't respond well to market volatility,” said Ziad Ismail, chief product officer at Convoy. “With recent enhancements to Convoy Go, we're addressing the biggest challenges of drop-and-hook freight, providing flexibility to scale up during demand surges and a level of trailer visibility never before possible. This has driven unprecedented customer demand for our drop-and-hook service and contributed to strong business growth over the last year.”
Convoy Go was the first drop-and-hook service to offer loads to tens of thousands of owner-operators and small carriers in 2017, improving capacity, and then expanding nationally in 2019, providing scale. Convoy Go has thousands of digitally-enhanced trailers in its fleet and is the company's fastest-growing offering, with more than 80 shippers and shipment volume increasing 245% year over year.
Convoy Go is available today to shippers who move at least 250 full truckloads per year in the US. Learn more by visiting convoy.com/drop-and-hook.
About Convoy
Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 72 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets. Convoy.com
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(425) 241 - 8954
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G7c devices now connect directly to the Blackline Cloud using 4G wireless, supported by the industry’s largest global network for connected safety
CALGARY, Alberta--(BUSINESS WIRE)--#connectedsafety--Blackline Safety Corp. (TSX.V: BLN), a global leader of gas detection and connected safety solutions, announced today that it has expanded its G7c gas detection and safety monitors to include 4G connectivity, enabling its devices to operate on 350+ mobile networks across 100+ countries. G7c wearables use a combination of wireless communications, multiple sensors and location technology to automatically detect safety and health incidents, including falls, lack of movement, exposure to environmental gases and close proximity to other employees.
To provide optimum compatibility with wireless networks on a global scale, G7c wearables now combine 4G with 3G or 2G connectivity that continues to be offered by many network providers around the world. Blackline clients further benefit from multi-carrier coverage in most countries, yielding a super-footprint comprised of two or more wireless networks, including across the United States, Canada, the United Kingdom and most European countries.
“Every day, tens of thousands of workers around the world trust Blackline Safety and our G7 cloud-connected wearables to help keep them safe in the field and throughout facilities,” said Barry Moore, VP Product Development at Blackline Safety. “Equipped with 4G connectivity, G7c devices now feature additional bandwidth to support new and innovative capabilities that we’ll offer in the future. Combined with the industry’s largest global coverage footprint, Blackline is uniquely positioned to help businesses enhance the sustainability and safety of their operations, ensuring that workers return home at the end of the day.”
Blackline’s updated G7c wearable featuring 4G technology from u-blox (SIX: UBXN), a partner and global leader in wireless communications and positioning technologies based in Thalwil, Switzerland. With the support of u-blox, G7c devices now offer greater network compatibility, a larger global coverage footprint, significantly faster data speeds and industry-leading assisted GPS location technology.
“Our collaboration with Blackline Safety demonstrates that our technology is reliable in the most critical environments around the world,” said Randy Walston, Regional Sales Director at u-blox. “With our technology, the workers that Blackline Safety helps protect will be connected at all times, enabling organizations to advance their digital transformation and expand their operations, all while knowing their people will remain safe.”
To improve safety, efficiency and quality, many businesses are transforming digitally, taking advantage of connectivity and data throughout their worksites and operations. Featuring advanced 4G technology, G7c becomes a digital hub at the heart of businesses’ digital transformations, empowering 24/7 live monitoring, emergency response and evacuation management, two-way communications, connected gas detection and push-to-talk.
Learn more about Blackline Safety’s 4G-equipped G7c device by visiting www.blacklinesafety.com/g7c-wireless-gas-detector.
About u-blox: u‑blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u‑blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA. www.u-blox.com
About Blackline Safety: Blackline Safety is a global connected safety leader that helps to ensure every worker gets their job done and returns home safe each day. Blackline provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of men and women, having reported over 100 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, we ensure that help is never too far away. For more information, visit BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
INVESTOR/ANALYST CONTACT
Cody Slater, CEO
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MEDIA CONTACT
Heather Houston
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Patented technology enables industry-transforming, dynamic battery synchronization and control for optimal battery operation and longevity
COSTA MESA, Calif.--(BUSINESS WIRE)--#AI--Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE™, today announced that it has received three new patents for its battery control technology, bringing the total number of issued patents covering its Veritone Energy Solutions to 13, with another 16 patent applications pending.
The new patented technologies enable dynamic, real-time synchronization and control of batteries to ensure optimal power distribution and battery life, helping to enable a reliable, cost-efficient green energy grid. The technologies empower utilities, independent service providers and battery providers with ground-breaking ways to address the very real Distributed Energy Resource (DER) integration challenges of suboptimal battery operation, overheating and failures that introduce safety concerns and cost companies millions in equipment damage each year.
“As the world transitions to renewable energy, whether it be wind, solar, or hydroelectric, the unpredictable nature of these green energy sources and the resulting energy supply and demand imbalances must be resolved if we are to achieve our green energy goals,” said Chad Steelberg, CEO of Veritone. “While deploying batteries to provide energy storage and smoothing seems like an obvious and simple solution, the technical hurdles to accomplish it at scale in the real-world are challenging. AI-based battery control and synchronization is necessary, now more than ever. Veritone has developed proprietary machine learning algorithms, now protected by several U.S. patents, to meet this pressing need.”
These battery control patents complement Veritone’s patented AI-based energy solutions for predictive real-time control, management and adaptation of smart grids. By applying advanced models, rules and learning to weather forecast, energy demand, pricing, and device data, Veritone Energy Solutions help utilities automatically predict optimal energy supply mix and pricing to meet grid demand, in real-time.
The following new battery control patents have been issued to Veritone:
“Other battery control solutions rely on day-ahead forecasting and steady state battery operation, which are not realistic in today’s distributed, unpredictable clean energy grids,” said Dr. Wolf Kohn, Chief Data Scientist at Veritone. “Our battery control technology, represented in the three new patents we have been granted, is unique in that it is based on real-time AI that predicts energy supply and demand minutes ahead, instead of days, and is based on the dynamic conditions of the battery and the operating environment at any given time.”
“Veritone’s dynamic battery control and synchronization technology helps independent service providers and battery providers optimize battery operation, reduce power dissipation and prolong battery life,” said Adje Mensah whose firm A.F. Mensah, Inc. develops and operates solar and battery storage projects. “With its innovative intelligent battery management technology, Veritone’s ability to leverage massive amounts of historical and real-time data to balance energy supply and demand is unique in the market, and truly transformative when it comes to solar forecasting and optimal dispatch for battery farms and microgrids.”
Veritone Energy’s Solutions include: Forecaster, which accurately detects and predicts energy supply, demand and price; Optimizer, which makes AI-based energy supply determinations; Controller, for predictive device control and active synchronization, combining energy sources to optimally satisfy demand; and Arbitrage, for buying, selling and dispatching energy. Veritone aiWARE, the leading cognitive operating system, provides deployment, integration, data services and weather services to these solution components. Veritone Energy’s highly customizable solutions can be applied to solve a wide range of challenges facing the industry, including solar smoothing, demand response, micro-grid synchronization, intelligent device control, voltage optimization, regulatory compliance, dispatch optimization and high-speed energy arbitrage. Its highly-differentiated solutions are covered by 13 patents issued in the United States and other countries, with an additional 16 applications pending.
For more information on Veritone Energy patented technology, including the scientific research behind it, please click here. To learn more about Veritone Energy solutions, please visit: https://www.veritone.com/solutions/energy/.
About Veritone
Veritone (NASDAQ: VERI) is a leading provider of artificial intelligence (AI) technology and solutions. The company’s proprietary operating system, aiWARE™, powers a diverse set of AI applications and intelligent process automation solutions that are transforming both commercial and government organizations. aiWARE orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. The company’s AI developer tools enable its customers and partners to easily develop and deploy custom applications that leverage the power of AI to dramatically improve operational efficiency and unlock untapped opportunities. Veritone is headquartered in Costa Mesa, California, and has offices in Denver, London, New York and San Diego. To learn more, visit Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the Company’s patents, the features and performance of its aiWARE Energy solutions and their expected benefits to customers. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Allison Zullo
Walker Sands, for Veritone
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330-554-5965
DUBLIN--(BUSINESS WIRE)--The "Genset Market Research Report: By Fuel (Diesel, Gas, Gasoline), Power Rating (5 kVA-75 kVA, 76 kVA-375 kVA, 376 kVA-750 kVA, Above 750 kVA), Application (Commercial, Industrial, Residential) - Global Industry Share Analysis and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global genset market is expected to attain a value of $27,863.0 in 2030, rising from $17,592.6 million in 2019, progressing at a 5.8% CAGR during the forecast period (2020-2030), as stated by a report by the publisher. The market is being driven by the increasing demand for data centers and low production of power and grid uncertainty in a number of countries. When fuel is taken into consideration, the market is divided into gasoline, gas, and diesel.
Among all these, the diesel division is predicted to account for the major share of the market in 2030, owing to the increased availability of this fuel as compared to other options. Despite the fact that low-power gas gensets cost less than diesel gensets, the poor supply of gas is affecting the adoption of these variants. On the basis of application, the market is categorized into residential, commercial, and industrial, out of which, the commercial category held the largest share of the market in 2019.
The demand for gensets in the commercial sector is growing due to the rising funding for the advancement of public infrastructure, expanding retail sector, swift construction of smart cities, and surging consumer spending. The commercial sector is further classified into hotels, retail establishments, hospitals, commercial offices, and telecom towers. The Asia-Pacific region accounted for the largest share of the genset market during the historical period (2014-2019), because of the rapid growth of the manufacturing sector.
The manufacturing sector is growing in the region because of government initiatives, including Making Indonesia 4.0, Make in India, and Made in China 2025. In addition to this, heavy investments are being offered for developing the telecommunications infrastructure and the requirement for backup power is rising from residential units. Because of its moderately developed power infrastructure, the region primarily used generators for auxiliary powers. The fastest growth is expected to be registered by the Middle East and African region during the forecast period.
A major factor driving the growth of the genset market is the increasing number of data centers across the globe. As a large amount of data is being created and consumed, the demand for supporting infrastructure for collation, assessment, and analysis is rising as well. The consumption and creation of data is further expected to grow because of the rising adoption of autonomous cars, IoT, and digital currencies. This will create demand for continuous power at data centers, thereby leading to the growth of the market.
The increasing requirement for gensets in the construction sector is expected to open up wide opportunities for the companies operating in the genset market. Because of swift industrialization in emerging economies and strong economic growth, the number of construction activities has increased majorly. Moreover, the recovery in oil prices, integration of technology in business practices, and lowering of geopolitical uncertainties are also expected to drive the growth of the market in the years to come.
Market Dynamics
Trends
Drivers
Restraints
Opportunities
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/xslkam
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Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced its commitment to set science-based targets to reduce greenhouse gas (GHG) emissions. The Company submitted its commitment letter to the Science Based Targets initiative (SBTi), a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature. With this commitment, Halliburton will submit targets in 2021 with pending SBTi validation by 2022. Halliburton joins over 1000 global companies who have committed to set emissions reduction targets grounded in climate science through the SBTi.
“Our SBTi commitment reinforces our sustainability goals while helping our customers provide the world with affordable and reliable energy,” said Halliburton Chairman, President & CEO Jeff Miller. “Our industry plays an important role in reducing greenhouse gas emissions and provides us a great opportunity to do what we do best: innovate, collaborate, and execute to drive efficiencies and affect change.”
Science-based targets are emissions reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord, which seeks to limit global warming to well below 2oC above pre-industrial levels.
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 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.
For Investors:
Abu Zeya
Investor Relations
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281-871-2688
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Emily Mir
External Affairs
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281-871-2601
NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases a new ESG Talks episode on clean energy and its impact on the markets. In this episode, Cecil Smart, Managing Director in KBRA’s ABS Commercial team, interviews Alfred Griffin, President of NY Green Bank. Griffin provides an overview of how NY Green Bank works with the private sector to promote clean energy across the state.
“We are very fortunate to be operating in [New York], a state with very strong policies related to clean energy and the deployment of clean energy,” Griffin said. “Solar is certainly an area that we have seen a lot of activity, therefore, giving us financing opportunity. A big share of investment to date has been in solar.”
NY Green Bank’s investments and activities support Governor Andrew Cuomo’s nation-leading goals to combat climate change, as outlined in the Climate Leadership and Community Protection Act, which includes a mandate that 70% of the state’s electricity come from renewable sources by 2030.
“We have three basic investment criteria that we’re expected to meet with every transaction. One is that we be self-sustaining, that the revenues we earn will be in excess of portfolio losses and operating expenses,” Griffin said. “The second criteria is that everything we do is expected to result in financing market transformation. [That’s] the concept of finding those opportunities that we can help scale, help create a precedent, do the heavy lifting to get things off the ground, and ultimately have the private market crowd in …. The third is that everything we do is expected to result in the reduction of greenhouse gases in the state of New York,” he added.
The full episode can be streamed here.
Related Links
About ESG Talks
ESG Talks is a KBRA Podcast series focusing on environmental, social, and governance (ESG). This podcast will highlight various ESG hot topics and includes commentary from prominent voices within the ESG community. As we continue to expand globally, KBRA Podcasts is a go-to source for intimate briefings directly from our knowledgeable team members and guests.
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.
Emilie Nadler, Associate, ESG, Credit Policy
+1 (646) 387-3386
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CHICAGO & PARIS--(BUSINESS WIRE)--ADM (NYSE:ADM), one of the world’s leading human and animal nutrition providers, and InnovaFeed, the world leader in producing premium insect ingredients for animal feed, today announced plans to collaborate on the construction and operation of the world’s largest insect protein production site, in Decatur, Illinois. The facility will be owned and operated by InnovaFeed and will co-locate with ADM’s Decatur corn processing complex, with ADM supplying feedstocks, waste heat and more. Together, these investments will bolster economic growth and job creation in Decatur and central Illinois while continuing to strengthen the state’s position as a center of innovative, sustainable agriculture.
“We are very pleased to launch this ambitious project, working alongside ADM and Illinois state partners as InnovaFeed expands to provide sustainable solutions to meet the fast growing demand for insect feed in the US and worldwide,” said Clement Ray, CEO and co-founder of InnovaFeed. “Around the world, InnovaFeed is contributing to the emergence of sustainable food systems by developing a pioneering and sustainable industry. Our new operations in Illinois, a global leader and destination for agriculture, will allow us to take the next steps to innovate and grow our business.”
“At a time when the demand for animal feed protein is steadily increasing, insect farming stands out as a true solution for the future,” said Chris Cuddy, ADM senior vice president and president of the company’s Carbohydrate Solutions business. “We’re excited to work with InnovaFeed on this ambitious project, which further expands our participation in the growing market for animal food and feed that comes from responsible, sustainable sources. It’s a great demonstration of how ADM is expanding its value chain by offering opportunities for collaboration to leading, innovative startups. It’s yet another example of how we’re constantly identifying new ways to create value from corn, oilseeds and more. And of course, we’re extremely proud that we can help bring this new, job-creating project to Decatur, the home of our North American headquarters.”
Insect feed has become an increasingly popular protein ingredient for the agriculture and aquaculture industries, as demand for animal feed has now reached an all-time high and consumers look for food that is sustainably and responsibly grown. InnovaFeed already operates two insect production facilities in France, including what is today the world’s largest. The Decatur facility represents InnovaFeed’s first international project.
“InnovaFeed’s decision to bring their first ever international facility and state-of-the-art agriculture technology to Illinois is a vote of confidence for our state, and a win for our farming communities,” said Governor JB Pritzker. “Illinois has always been a global leader in agriculture and technology, and we offer the resources to support this major international expansion – with an educated workforce, proximity to global businesses like ADM, and access to shipping and logistics. The investments InnovaFeed is making in Decatur will not only support our thriving agriculture industry – a cornerstone of our economy – but will unlock new well-paying jobs for our communities.”
Construction of the new high-capacity facility is expected to create more than 280 direct and 400 indirect jobs in the Decatur region by the second phase. The Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois workNet Center will partner with InnovaFeed to develop recruiting strategies as well as on-the-job training programs. DCEO also partnered with InnovaFeed through an EDGE agreement to support this large-scale capital investment. Locally, InnovaFeed will benefit from the Decatur-Macon County Enterprise Zone and customized incentive opportunities from the City of Decatur and Economic Development Corporation of Decatur-Macon County.
Construction is targeted to begin in 2021, pending necessary permitting and approvals. Construction and production will come in two phases. When both are complete, the plant would have a target annual production capacity of 60,000 metric tons of animal feed protein derived from Hermetia Illucens, a type of fly with exceptional nutritional qualities; the plant will also have the capability to produce 20,000 metric tons every year of oils for poultry and swine rations, and 400,000 metric tons of fertilizer.
“Illinois remains open for business, and companies continue to choose Illinois for growth based on our industry strengths, talent, education and access to infrastructure,” said Illinois Department of Commerce & Economic Opportunity Director Erin Guthrie. “With agriculture a leading industry and employer for communities across our state, these investments by InnovaFeed to bring their one-of-a-kind technology will support our farmers and those who rely upon farms. We look forward to partnering with the company on ensuring our local residents have access to jobs and economic opportunity created by this exciting new project in Decatur.”
"The city of Decatur is pleased to partner with InnovaFeed to bring this unique and innovative facility to our community,” said Decatur Mayor Julie Moore Wolfe. “Not only will this project fuel both direct and indirect job creation, but it affirms that our best prospects for creating new jobs are in the agri-business sector, in partnership with our existing businesses, in a city that is an ideal place for groundbreaking advanced manufacturing. ADM, the State of Illinois, the Economic Development Corporation of Decatur-Macon County, and the City of Decatur worked together to bring this plant to Decatur. Our concierge approach results in joint incentive opportunities to support InnovaFeed’s infrastructure and operational needs."
The plant will be built using an innovative model of industrial collaboration that InnovaFeed has already demonstrated in other facilities enabling the French Biotech company to produce the insect protein with the lowest carbon footprint on the market. The plant will be co-located with ADM’s Decatur corn complex, with complementary infrastructure that will allow ADM to directly provide corn by-products to supply InnovaFeed’s innovative insect rearing process, as well as waste heat and steam. This collaborative operational model will enable the InnovaFeed facility to reduce CO2 emissions by 80 percent versus standalone production.
About ADM
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
About InnovaFeed
InnovaFeed is a biotech company that produces a new source of protein from insect rearing (Hermetia Illucens) for animal and plant nutrition. InnovaFeed’s mission is to participate in the rise of sustainable food systems by addressing the increasing demand for natural, healthy and competitive raw materials. Combining the largest production capacity on the market and state of the art research in biotechnology, InnovaFeed has developed an innovative technology and process enabling the production of high-quality insect ingredients at industrial scale and at a competitive price.
Source: Corporate Release
Press contacts:
For InnovaFeed: Marianne Rageot, +337 78 21 51 09, This email address is being protected from spambots. You need JavaScript enabled to view it.
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Memo of understanding extends companies’ relationship, focusing on transformational green energy
OVERLAND PARK, Kan.--(BUSINESS WIRE)--As the world accelerates to greener and decarbonized energy solutions, Black & Veatch and Golar LNG announce the expansion of their long-standing collaboration, focusing on broadening floating production of blue and green hydrogen and ammonia.
The memo of understanding between Golar, an operator of carriers for natural gas shipping, and global floating liquefied natural gas (FLNG) solutions leader Black & Veatch reflects the growing sway of hydrogen and ammonia in a sustainable energy economy.
Golar’s deep experience in delivering and operating paradigm-shifting, low-cost floating liquefied natural gas (LNG) infrastructure complements Black & Veatch’s status as a leading provider of LNG technology, an industry force in advancing decarbonization and an expert in green energy technologies.
“This collaboration builds on years of delivering commercial and technology innovation with Golar, a visionary in monetizing natural gas reserves,” said Hoe Wai Cheong, president of Black & Veatch’s oil and gas business. “Given hydrogen and ammonia’s use in many energy-intensive industries we can make meaningful progress in lowering the carbon footprint and help these industries meet new sustainability commitments.”
“As a company with an established history of championing and delivering disruptive solutions to problems in its industry, and a serious and continuous commitment to its ESG agenda, Golar looks forward to working with a like-minded and equally capable partner in the field of floating hydrogen and ammonia production, carbon capture, and other decarbonization initiatives,” said Golar CEO Iain Ross.
As the role of hydrogen in the green energy economy continues to expand, Black & Veatch also sees a growing case for ammonia – more energy dense than pure hydrogen, incredibly stable and easily liquified for storage and shipment around the globe in the same fashion as LNG. Ammonia then can be used in multiple energy-intensive industries to produce low-carbon electricity.
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
Media Contact Information:
JIM SUHR | +1 913-458-6995 P | +1 314-422-6927 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 866-496-9149
DALLAS--(BUSINESS WIRE)--Trinity Industries, Inc. (NYSE:TRN) will host a virtual Investor Day today including presentations by Jean Savage, Trinity’s CEO and President; Eric Marchetto, EVP and Chief Financial Officer; as well as other members of executive management.
During the presentations, management will discuss their strategic framework for optimization and growth of the rail platform, improving pre-tax return on equity to a mid-teen range through the cycle, and a capital allocation framework for expected cash flow from operations of $1.5 – 2.0 billion generated over the next three years. The presentations will be followed by a question and answer session hosted by Trinity’s management team.
The event is set to begin at 9:00 a.m. Eastern today, November 19, 2020 and is expected run less than 3 hours. The presentation materials were filed in a Form 8K this morning and have been posted to the event webpage for investors to preview.
How to Participate:
To participate in the live video webcast, visit the Investor Relations section of the Company’s website at www.trin.net and access the Events and Presentations webpage.
A replay of the webcast and presentation materials will be available on the website for one year from the date of the event.
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Our rail-related businesses market their railcar products and services under the trade name TrinityRail®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity also owns businesses engaged in the manufacture of products used on the nation’s roadways and in traffic control, as well as a logistics business that primarily provides support services to Trinity. Trinity reports its financial results in three principal business segments: the Railcar Leasing and Management Services Group, the Rail Products Group, and the All Other Group. For more information, visit: www.trin.net.
Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements, including, but not limited to, future financial and operating performance, future opportunities and any other statements regarding events or developments that Trinity believes or anticipates will or may occur in the future, including the potential financial and operational impacts of the COVID-19 pandemic. Trinity uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “projected,” “outlook,” and similar expressions to identify these forward-looking statements. Forward-looking statements speak only as of the date of this release, and Trinity expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Trinity’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, except as required by federal securities laws. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations, including but not limited to risks and uncertainties regarding economic, competitive, governmental, and technological factors affecting Trinity’s operations, markets, products, services and prices, and such forward-looking statements are not guarantees of future performance. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and “Forward-Looking Statements” in Trinity’s Annual Report on Form 10-K for the most recent fiscal year, as may be revised and updated by Trinity’s Quarterly Reports on Form 10-Q, and Trinity’s Current Reports on Form 8-K.
Investor Contact:
Jessica L. Greiner
Vice President, Investor Relations and Communications
Trinity Industries, Inc.
(Investors) 214/631-4420
Media Contact:
Jack L. Todd
Vice President, Public Affairs
Trinity Industries, Inc.
(Media Line) 214/589-8909
DUBLIN--(BUSINESS WIRE)--The "Fuel Cell Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Phosphoric Acid Fuel Cell, Solid Oxide Fuel Cell, and Others); Application; and End-User" report has been added to ResearchAndMarkets.com's offering.
According to this report the market was valued at US $709.00 million in 2019 and is projected to reach US$ 4,570.68 million by 2027, growing at a CAGR of 26.8%. The report highlights the factors driving and restraining the market growth, as well as enumerates prominent players in the market with their recent developments.
At present, automotive manufacturers are inclined toward making automotive mobility more sustainable to reduce their impact on the environment. The major players in the automotive sector are focusing on investing in the production of electric vehicles. There have been notable collaborations in recent years between automakers and tech companies to develop technologically advanced electric vehicles. With the changes in business strategies to introduce innovative technologies, the market is moving toward EV adaptation, which has compelled ICE vehicle manufacturers to shift their focus toward EVs with high voltage operating devices. With the rapid growth in the automotive sector, car manufacturers are also becoming careful while selecting energy distribution technologies to avoid battery-related accidents.
At present, there is increase in demand for an energy-efficient electric vehicle to reduce pollution worldwide. Also, it is stated in the International Council on Clean Transportation (ICCT) that auto manufacturers have announced more than US$ 150 billion investments to achieve the production of 13 million electric vehicles by 2025. The shifting trend of vehicles from old conventional automotive vehicles to electric vehicles demands for electric circuit system, which drives the adoption of fuel cell. Thus, rapid growth in the automotive industry and increasing investment in the production of electric vehicles are the major factors offering opportunity for the global market players to expand their businesses.
The global fuel cell market is broadly segmented into type, application, end user, and geography upon extensive analysis of business offerings of considerable market players and selected end users. In terms of type, the proton exchange membrane fuel cell segment dominated the market in 2019. In terms of application, the stationary segment held the largest market share in 2019. In terms of end user, utilities segment held the highest share across the globe.
Hydrogenics Corp.; FuelCell Energy, Inc.; Plug Power Inc.; Bloom Energy; Ballard Power Systems; SFC Energy AG; Intelligent Energy Limited; Doosan Fuel Cell Co., Ltd.; TW Horizon Fuel Cell Technologies; and Toshiba Energy Systems & Solutions Corporation are among the major companies offering products in fuel cell market.
Reasons to Buy
Market Dynamics
Market Drivers
Market Restraint
Market Opportunity
Market Trend
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/mqdr0h
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Former Felix Energy executives team up to pursue large-scale, oil-weighted, producing assets
Certain funds managed by Oaktree pledge $600 million in initial equity withan option to invest an additional $300 million
DENVER--(BUSINESS WIRE)--FourPass Energy, LLC (“FourPass”), an oil and gas operating company, along with funds managed by Oaktree Capital Management, L.P. (collectively, “Oaktree”) today announced a partnership to acquire and operate large-scale, oil-weighted, producing oil and gas assets. Oaktree’s $900 million pledge includes $600 million in initial equity, with an option to upsize the commitment by $300 million.
FourPass is led by former Felix Energy executives Ben Jackson and Andrew Dunleavy, alongside a team of operations and subsurface leaders with extensive experience across the sector. In a challenging market cycle from 2013 to 2020, Felix Energy assembled, operated, and sold over $6 billion in assets, including upstream, midstream, and mineral assets. FourPass intends to build from these experiences by applying its team’s collective expertise to the current market opportunity.
The company launches with a rigorous and responsible underwriting process, prioritizing certainty of close, efficient asset integration and a low-cost operating model. As it acquires and begins operating assets, FourPass will apply this model safely and responsibly in the communities and environments where it operates.
Ben Jackson, FourPass Energy CEO, said: “Having participated in the A&D market over the past seven years, we understand the opportunity set requires a sizable equity commitment as well as flexibility and creativity when structuring transactions. Our partnership with Oaktree fulfills each of these requirements, which will be a key differentiator for us. We’ve built a strong acquisition and operations team with this opportunity in mind, and we’re proud to have Oaktree partner with us in this endeavor.”
Brook Hinchman, Co-Head of North America for the Oaktree Opportunities Funds, said: "We are excited to partner with the FourPass management team. Amidst an evolving energy landscape, the FourPass team has unparalleled experience in pursuing its strategy of acquiring producing, cash-flowing assets and delivering investor returns through excellent execution. Oaktree's equity commitment will allow FourPass to apply its proven framework to larger acquisition opportunities, which we believe will generate attractive returns to our investors over the long-term."
About FourPass Energy
Founded in 2020, FourPass Energy is a privately held upstream oil and gas operator headquartered in Denver, Colo. FourPass was formed to acquire and operate large-scale, oil-weighted, producing oil and gas assets from operators who are experiencing generational turnover, optimizing their portfolio, cleaning up their balance sheet, or other special circumstances.
For additional information, please visit the FourPass website at http://www.fourpassenergy.com
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About Oaktree
Founded in 1995, Oaktree is a leading global investment management firm focused on alternative markets with assets under management of $124.7 billion in contrarian, value-oriented, risk-controlled investment strategies. Oaktree manages assets for a wide variety of clients, including many of the most significant investors in the world, including: 71 of the 100 largest U.S. pension plans, the main pension fund of 39 states in the United States, over 400 corporations, over 320 university, charitable and other endowments and foundations, over 400 non-U.S. institutional investors and over 15 sovereign wealth funds.
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DUBLIN--(BUSINESS WIRE)--The "Algae Oil - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Algae Oil estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2027, growing at a CAGR of 2.9% over the analysis period 2020-2027.
Fuel Grade, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach US$963.3 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 Food Grade segment is readjusted to a revised 2.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $421.9 Million, While China is Forecast to Grow at 5.3% CAGR
The Algae Oil market in the U.S. is estimated at US$421.9 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$387.3 Million by the year 2027 trailing a CAGR of 5.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.
Feed Grade Segment to Record 2.3% CAGR
In the global Feed Grade segment, USA, Canada, Japan, China and Europe will drive the 1.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$268.4 Million in the year 2020 will reach a projected size of US$306.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$261.8 Million by the year 2027, while Latin America will expand at a 3.1% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/u84567
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $1,277,407.59 or $0.027407 per Unit, based primarily upon production during the month of September 2020, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (Hilcorp”), for prior months. The distribution is payable December 14, 2020, to Unit Holders of record as of November 30, 2020.
Based upon information provided to the Trust by Hilcorp, gas production for the subject interests totaled 2,218,752 Mcf (2,465,280 MMBtu) for September 2020, as compared to 2,598,335 Mcf (2,887,039 MMBtu) for August 2020. Dividing revenues by production volume yielded an average gas price for September 2020 of $1.87 per Mcf ($1.68 per MMBtu), as compared to an average gas price for August 2020 of $1.52 per Mcf ($1.37 per MMBtu).
Hilcorp has advised the Trust that the September 2020 reporting month included additional profits of $71,802 gross ($53,852 net to the Trust) based on true-ups for the October 2017, November 2017, December 2017, and April 2020 production months and corrections to the August 2017, September 2017 and March 2020 production months.
Hilcorp also reported that for the reporting month of September 2020, revenue included an estimated $100,000 for non-operated revenue. For the month ended September 2020, Hilcorp reported to the Trust capital costs of $5,160, lease operating expenses and property taxes of $1,868,950, and severance taxes of $722,518.
Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.
San Juan Basin Royalty Trust
BBVA USA, Trustee
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Joshua R. Peterson, Head of Trust Real Assets & Mineral Resources
and Senior Vice President
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
The company’s concentrated solar technology for decarbonizing industrial processes is recognized as one of the year’s top innovations in the Sustainability category
PASADENA, Calif. & NEW YORK--(BUSINESS WIRE)--#BillGross--Heliogen, the clean energy company that is transforming sunlight to create and replace fuels, today announced the inclusion of its HelioHeat technology in TIME’s Best Inventions of 2020 list. Heliogen’s high-temperature solar technology – for the first time in history – can cost-effectively replace fossil fuels with sunlight in a range of industrial processes. HelioHeat, Heliogen’s carbon-free, ultra-high temperature process heat product, was recognized in the Sustainability category for its ability to decarbonize the production of cement, 24/7 electricity, and hydrogen.
Heliogen has developed a concentrated solar solution utilizing unique advanced computer vision software to precisely align an array of mirrors, reflecting sunlight to a single target with unprecedented accuracy. Exactly one year ago, Heliogen announced that it had applied its technology at its Lancaster, California facility to achieve a record-breaking 1,000 degrees Celsius. This advancement enables Heliogen to generate carbon-free, ultra-high temperature heat (HelioHeat) that replaces the need for fossil fuel-generated heat in facilities for cement, mining, and other industrial processes. Although nearly all renewable energy innovation to date has only applied to electricity generation, the majority of the industrial sector’s energy use is for process heat, which often requires extremely high temperatures that solar photovoltaics and wind, for example, simply cannot achieve cost-effectively. With Heliogen’s technology, concentrated solar can commercially achieve those temperatures for the first time.
Bill Gates, an early investor in Heliogen, regards the “75% problem” as one of the world’s most pressing challenges, referring to greenhouse gas emissions created by the 75 percent of global energy consumed for non-electricity uses. Heliogen tackles this challenge head-on, opening many of the leading sources of global emissions to the use of renewable energy for the first time, creating new opportunities for decarbonization.
“Given our mission to empower a sustainable civilization by arresting and reversing climate change, we’re honored for Heliogen’s technology to be recognized by TIME as one of the year’s most significant advances in sustainability,” said Bill Gross, CEO and founder, Heliogen. “Decarbonizing the processes that run our world is a pivotal part of our future, and at Heliogen we are inventing and deploying the technologies required to produce 24/7, low-carbon energy. Our ability to do this with unprecedented economics will accelerate the adoption of renewables across industries around the world.”
To assemble the 2020 TIME Best Inventions list, TIME solicited nominations across a variety of categories from editors and correspondents around the world, as well as through an online application process. Each contender was then evaluated on key factors, including originality, effectiveness, ambition and influence. The result: 100 groundbreaking inventions that are changing the way we live, work, play and think about what’s possible.
See the full list here: https://time.com/collection/best-inventions-2020/
See the international cover of TIME featuring the 100 Best Inventions of 2020 here: https://api.time.com/wp-content/uploads/2020/11/TIM201130_Best.Inventions.Cover_.jpg
About Heliogen
Heliogen is a clean energy company focused on eliminating the need for fossil fuels in all sectors of the economy. Heliogen’s mission is to create the world’s first technology that can commercially replace fossil fuels in industrial processes with carbon-free, ultra-high temperature heat from the sun and to transform sunlight into fuels, including hydrogen, at scale. Heliogen was created at Idealab, the leading technology incubator. For more information about Heliogen, please visit heliogen.com.
About TIME
TIME is a global media brand that reaches a combined audience of more than 100 million around the world, including over 40 million digital visitors each month and 45 million social followers. A trusted destination for reporting and insight, TIME’s mission is to tell the stories that matter most, to lead conversations that change the world and to deepen understanding of the ideas and events that define our time. With unparalleled access to the world’s most influential people, the immeasurable trust of consumers globally, an unrivaled power to convene, TIME is one of the world’s most recognizable media brands with renowned franchises that include the TIME 100 Most Influential People, Person of the Year, Firsts, Best Inventions, World’s Greatest Places and premium events including the TIME 100 Summit and Gala, TIME 100 Health Summit, TIME 100 Next and more.
Heliogen Media Contact:
Leo Traub, Antenna Group
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646.883.3562
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