NEW YORK--(BUSINESS WIRE)--#dividend--The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on December 30, 2020, to holders of record at the close of business on December 15, 2020.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com.
For Hess Corporation
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
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Global leader in air refuelling systems delivering bespoke probe solutions tailored to individual customer requirements
WIMBORNE, United Kingdom--(BUSINESS WIRE)--Cobham Mission Systems, the world leader in air refuelling probe solutions, announced today it has been awarded a prime contract from Korea Aerospace Industries Ltd. (KAI) to deliver an air refuelling probe solution for its FA-50 advanced jet aircraft. Under this contract, Cobham Mission Systems will design, develop and qualify a telescopic probe solution, which the company anticipates will lead to future serial production requirements for KAI’s customer base.
Equipping the FA-50 with an air refuelling probe will enable air refuelling from hose and drogue tankers, enhancing the aircrafts operational flexibility and interoperability.
“Having supported KAI for over a decade, we are delighted to deliver this new operational capability for their impressive FA-50 jet,” said Russell Bailey, vice president air-to-air refuelling for Cobham Mission Systems in the UK.
“Recognised for providing leading edge and optimised solutions to meet the air refuelling capability requirements of Air Forces around the world, Cobham Mission Systems is uniquely placed to deliver this project. Our dedicated team looks forward to collaborating closely with KAI to create a bespoke probe design for the FA-50 that will deliver an enhanced operational capability to end users.”
Cobham Mission Systems is globally recognised as the market leader for bespoke air-to-air refuelling solutions for aircraft tanker and military aircraft. At the leading edge of probe design and manufacture, the company has a deep understanding of complex air-to-air refuelling probe requirements and specialist expertise from probe design, development and qualification to serial production and in-service support.
For more information on Cobham Mission Systems air refuelling probe solutions, visit www.cobhammissionsystems.com.
About Cobham Mission Systems
As the world’s leading supplier of critical control solutions, Cobham Mission Systems helps customers increase the safety and mission capabilities of personnel and equipment in extreme environments. Proven and trusted solutions include air-to-air refuelling, fuel tank inerting, life support, space propulsion, weapons carriage and missile actuation that enable customers to achieve mission success. www.cobhammissionsystems.com
Media Contact:
On behalf of Cobham Mission Systems
Joyce Bosc
(301) 717-9529
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DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced the publication of its 2020 Sustainability Report, detailing the Company’s dedication and focus on environmental, social and governance (ESG) programs. The report highlights enhanced disclosures on air emissions, health and safety metrics, diversity and inclusion initiatives, community engagement, board governance and additional detail on the steps Pioneer will take to integrate the assets from the pending acquisition of Parsley Energy into alignment with the Company’s announced goals and targets. Pioneer’s 2020 Sustainability Report is available at www.pxd.com/sustainability.
Highlights from Pioneer’s 2020 Sustainability Report include:
President and CEO Scott D. Sheffield stated, “Pioneer continues to make our comprehensive ESG and HSE strategies a top priority. With this report, we are pleased to announce the improvements we have made over the past year as well as additional environmental targets, including the adoption of greenhouse gas and methane emission reduction targets, continuing our leadership through minimizing flaring and progressing projects that reduce our freshwater usage. Our pending acquisition of Parsley combines similar values with a shared commitment to environmental stewardship. Pioneer has a bright future supplying low-cost energy to the world while adhering to the highest ESG standards.”
Chairman of the Board, J. Kenneth Thompson, stated, “The Board’s engagement in ESG and climate-related concerns is a top priority. We are increasing the weighting of these metrics in executive incentive compensation from 10% to 20% beginning in 2021 and continue to enhance Board governance on ESG and HSE initiatives to ensure Pioneer’s leadership position continues into the future. While Board engagement is important, execution on the ground is critical to achieving our goals outlined in this report. The high standards in which our employees perform their work translates into a focus on safety, a commitment to environmental excellence and a culture that promotes strong social values.”
Additional information on Pioneer’s strategy and performance on ESG and HSE initiatives can be found in the report accessible on the Company’s website listed above. The Company announced its plan to implement the principles of the TCFD in its sustainability reporting. This year’s report references the following reporting standards, terminology and performance metrics: TCFD, Global Reporting Initiative (GRI), International Petroleum Industry Environmental Conservation Association (IPIECA), Carbon Disclosure Standards Board (CDSB), Sustainability Accounting Standards Board (SASB) for oil and gas exploration and production standards and the United Nations Sustainable Development Goals (SDGs).
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed transaction between Pioneer Natural Resources Company (“Pioneer”) and Parsley Energy, Inc. (“Parsley”). The proposed transaction will be submitted to Pioneer’s stockholders and Parsley’s stockholders for their consideration. Pioneer and Parsley have filed a joint proxy statement/prospectus (the “Joint Proxy Statement/Prospectus”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies by Pioneer and Parsley in connection with the proposed transaction. Pioneer has filed a registration statement on Form S-4 (the “Form S-4”) with the SEC, in which the Joint Proxy Statement/Prospectus was included. The information in the Form S-4 is not complete and may be changed. Pioneer and Parsley also intend to file other relevant documents with the SEC regarding the proposed transaction. After the Form S-4 is declared effective by the SEC, the definitive Joint Proxy Statement/Prospectus will be mailed to Pioneer’s stockholders and Parsley’s stockholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION, INVESTORS AND STOCKHOLDERS OF PIONEER AND INVESTORS AND STOCKHOLDERS OF PARSLEY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
The Joint Proxy Statement/Prospectus, any amendments or supplements thereto and other relevant materials, and any other documents filed by Pioneer or Parsley with the SEC, may be obtained once such documents are filed with the SEC free of charge at the SEC’s website at www.sec.gov or free of charge from Pioneer at www.pxd.com or by directing a request to Pioneer’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it. or free of charge from Parsley at www.parsleyenergy.com or by directing a request to Parsley’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it..
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Participants in the Solicitation
Pioneer, Parsley and certain of their respective executive officers, directors, other members of management and employees may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies in connection with the proposed transaction. Information regarding Pioneer’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 9, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 24, 2020. Information regarding Parsley’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 6, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 21, 2020. These documents may be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is and will be contained in the Form S-4, the Joint Proxy Statement/Prospectus and other relevant materials relating to the proposed transaction to be filed with the SEC. Stockholders and other investors should read the Joint Proxy Statement/Prospectus carefully before making any voting or investment decisions.
Cautionary Statement Regarding Forward-Looking Information
Except for historical information contained herein, 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. Forward-looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand; the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, on global and U.S. economic activity; competition; the ability to obtain environmental and other permits and the timing thereof; other government regulation or action; the ability to obtain approvals from third parties and negotiate agreements with third parties on mutually acceptable terms; litigation; the costs and results of drilling and operations; availability of equipment, services, resources and personnel required to perform the Company’s drilling and operating activities; access to and availability of transportation, processing, fractionation, refining, storage and export facilities; Pioneer's ability to replace reserves; implement its business plans or complete its development activities as scheduled; access to and cost of capital; the financial strength of counterparties to Pioneer's credit facility, investment instruments and derivative contracts and purchasers of Pioneer's oil, natural gas liquids and gas production; uncertainties about estimates of reserves and resource potential; identification of drilling locations and the ability to add proved reserves in the future; the assumptions underlying forecasts, including forecasts of production, cash flow, well costs, capital expenditures, rates of return, expenses, and cash flow from purchases and sales of oil and gas, net of firm transportation commitments; sources of funding; tax rates; quality of technical data; environmental and weather risks, including the possible impacts of climate change; cybersecurity risks; ability to implement stock repurchases; the risks associated with the ownership and operation of the Company's oilfield services businesses and acts of war or terrorism. These and other risks are described in Pioneer's Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q filed thereafter and other filings with the United States Securities and Exchange Commission. In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse effect on it.
Additionally, the information in this news release contains forward-looking statements related to the recently announced merger transaction between the Company and Parsley. Such forward-looking statements are subject to risks and uncertainties that are difficult to predict and, in many cases, beyond the Company's control. These risks and uncertainties include, among other things, the risk that the businesses of Pioneer and Parsley will not be integrated successfully; the cost savings, synergies and growth from the proposed transaction may not be fully realized or may take longer to realize than expected; management time may be diverted on transaction-related issues; the potential adverse effect of future regulatory or legislative actions on Pioneer and Parsley or the industries in which they operate, including the risk of new restrictions with respect to development activities on Pioneer's or Parsley's assets; the credit ratings of the combined company or its subsidiaries may be different from what Pioneer expects; Pioneer or Parsley may be unable to obtain governmental and regulatory approvals required for the proposed transaction, or that required governmental and regulatory approvals may delay the proposed transaction or result in the imposition of conditions that could reduce the anticipated benefits from the proposed transaction or cause the parties to abandon the proposed transaction; a condition to closing of the proposed transaction may not be satisfied; the length of time necessary to consummate the proposed transaction may be longer than anticipated for various reasons; potential liability resulting from pending or future litigation related to the proposed transaction; the potential impact of the announcement or consummation of the proposed transaction on relationships with customers, suppliers, and competitors; and transaction costs may be higher than anticipated.
Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Pioneer undertakes no duty to publicly update these statements except as required by law.
Pioneer Natural Resources Company Contacts:
Investors
Neal Shah - 972-969-3900
Tom Fitter - 972-969-1821
Michael McNamara - 972-969-3592
Greg Wright – 972-969-1770
Media and Public Affairs
Tadd Owens - 972-969-5760
Christina Voss – 972-969-5706
VANCOUVER, British Columbia--(BUSINESS WIRE)--$GRN #RNG--Greenlane Renewables Inc. (“Greenlane”) (TSXV: GRN / FSE: 52G) today announced that over the course of the last two weeks the company has received $4.5 million in gross proceeds from the exercise of 7,303,000 share purchase warrants, which entitled the warrant holders the right to purchase common shares of Greenlane at either $0.26 or $0.70.
As a reminder, the Company issued share purchase warrants in connection with its financing that closed June 3, 2019, which entitled each holder the right to purchase one common share of the Company at an exercise price of $0.26 per share for a two-year period ending June 3, 2021. The Company also issued share purchase warrants in connection with its financing that closed February 19, 2020, which entitled each holder the right to purchase one common share of the Company at an exercise price of $0.70 per share for a one-year period ending February 19, 2021.
Out of the 7,303,000 warrants exercised, 1,438,000 were in connection with the June 3, 2019 financing and 5,865,000 warrants were in connection with the February 19, 2020 financing.
A total of 23,582,347 warrants (or $6.1 million) exercisable at a price of $0.26 remain and a total of 5,635,000 warrants (or $3.9 million) exercisable at a price of $0.70 remain.
As a result of the recent exercises of warrants and company stock options, the Company has approximately 106.7 million total shares outstanding as at December 1, 2020.
“The warrant exercises strengthen our balance sheet and show a vote of confidence in Greenlane’s business model and our future growth prospects,” said Brad Douville, President and CEO of Greenlane.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 110 biogas upgrading systems supplied into 18 countries worldwide, including the world’s largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers, gas utilities or project developers turn a low-value product into a high-value low-carbon renewable resource. For further information, please visit www.greenlanerenewables.com.
Incite Capital Markets
Eric Negraeff / Darren Seed
Ph: 604.493.2004
Brad Douville, President & CEO, Greenlane Renewables
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Delivery of Renewable Fuel to Support Japan’s Progress Towards a Clean, Carbon-Free Economy
BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (“Enviva”), a leading renewable energy company specializing in sustainable wood bioenergy, today announced that its first shipment of sustainable wood pellets is on its way from Port Panama City in Florida to Japan’s Iwakuni Port.
“Worldwide demand for renewable solutions that can help mitigate climate change right now continues to grow immensely,” said John Keppler, Enviva Chairman and Chief Executive Officer. “We are very proud of our operations in the Southeast and our export terminals that enable us to safely, stably, and reliably deliver a product that displaces coal and helps countries like Japan meet their climate change goals in the most cost-efficient way while ensuring reliable and dispatchable energy generation.”
“We are honored by the trust and responsibility our Japanese customers have placed in us to be the core supplier of renewable fuels to such an important project mitigating climate change and are privileged to be a part of their success,” Keppler added.
Enviva’s first shipment carried approximately 28,000 metric tons of wood pellets made from low-value wood sourced in the U.S. Southeast. Sustainable bioenergy provides a viable solution to reducing greenhouse gas emissions that is available today and will enable Japan to meet its recently announced goal of being carbon-neutral by 2050. By using sustainable wood pellets instead of coal, heat and power producers in Japan will be able to reduce carbon emissions by more than 85% on a lifecycle basis, providing a significant reduction in emissions for the world's fifth-largest greenhouse gas emitter while also providing grid stability.
“The Port of Panama City and Enviva’s first shipment of sustainable biomass to Japan is a major milestone for Florida’s Second Congressional District,” said Florida Congressman Neal Dunn, M.D. “This partnership between Enviva and the Port of Panama City will not only boost the local and state economy; it will provide alternatives to conventional power sources internationally.”
“The Port of Panama City is proud to be a part of Enviva’s sustainable supply chain, which takes low-value wood from private landowners in Florida and ships it to customers around the world who use it to generate clean, renewable energy for tens of thousands of homes and businesses,” said Wayne Stubbs, executive director of the port.
This week’s shipment marks the first of many to a global economic powerhouse where demand for a long-term supply of sustainable biomass continues to grow as the economy moves away from fossil fuels. Japan’s feed-in tariffs (FiTs) for renewable energy, along with the government’s commitment to shut down or decarbonize 100 coal plants, have enabled more than 3 million tons of long-term demand for wood pellets to be contracted by Enviva. Most of such agreements with the company’s Japanese customers extend to 2040 and beyond.
To learn more about the voyage of a Southeastern U.S. wood pellet, take a look at our video, Lifecycle of a wood pellet, here.
About Enviva Partners, LP
Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom and Europe. The Partnership owns and operates nine plants with a combined production capacity of approximately 4.9 million MTPY in Virginia, North Carolina, South Carolina, Georgia, Mississippi, and Florida. In addition, the Partnership exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia and the Port of Wilmington, North Carolina and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida. To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com and follow us on social media @Enviva.
Cautionary Note Concerning Forward-Looking Statements
Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward‑looking statements are based on the Partnership’s current expectations and beliefs concerning future developments and their potential effect on it. Although management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. All comments concerning the Partnership’s expectations for future revenues and operating results are based on the forecasts for its existing operations and do not include the potential impact of any future acquisitions. The Partnership’s forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) and assumptions that could cause actual results to differ materially from the its historical experience and its present expectations or projections. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: (i) the volume and quality of products that it is able to produce or source and sell, which could be adversely affected by, among other things, operating or technical difficulties at the Partnership’s wood pellet production plants or deep-water marine terminals; (ii) the prices at which the Partnership is able to sell the its products; (iii) the Partnership’s ability to successfully negotiate and complete and integrate drop-down and third-party acquisitions, including the associated contracts, or to realize the anticipated benefits of such acquisitions; (iv) failure of the Partnership’s customers, vendors, and shipping partners to pay or perform their contractual obligations to it; (v) the Partnership’s inability to successfully execute its project development, expansion, and construction activities on time and within budget; (vi) the creditworthiness of the Partnership’s contract counterparties; (vii) the amount of low-cost wood fiber that it is able to procure and process, which could be adversely affected by, among other things, disruptions in supply or operating or financial difficulties suffered by the Partnership’s suppliers; (viii) changes in the price and availability of natural gas, coal, or other sources of energy; (ix) changes in prevailing economic conditions; (x) unanticipated ground, grade or water conditions; (xi) inclement or hazardous environmental conditions, including extreme precipitation, temperatures, and flooding; (xii) fires, explosions, or other accidents; (xiii) changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, the international shipping industry, or power, heat or combined heat and power generators; (xiv) changes in the regulatory treatment of biomass in core and emerging markets; (xv) the Partnership’s inability to acquire or maintain necessary permits or rights for the Partnership’s production, transportation, or terminaling operations; (xvi) changes in the price and availability of transportation; (xvii) changes in foreign currency exchange rates or interest rates, and the failure of the Partnership’s hedging arrangements to effectively reduce its exposure to the risks related thereto; (xviii) risks related to the Partnership’s indebtedness; (xix) the Partnership’s failure to maintain effective quality control systems at its production plants and deep-water marine terminals, which could lead to the rejection of the Partnership’s products by its customers; (xx) changes in the quality specifications for the Partnership’s products that are required by its customers; (xxi) labor disputes; (xxii) the Partnership’s inability to hire, train, or retain qualified personnel to manage and operate its business and newly acquired assets; (xxiii) the effects of the exit of the United Kingdom from the European Union on the Partnership’s and its customers’ businesses; (xxiv) the Partnership’s inability to borrow funds and access capital markets; and (xxv) viral contagions or pandemic diseases, such as the recent outbreak of a novel strain of coronavirus known as COVID-19.
For additional information regarding known material factors that could cause the Partnership’s actual results to differ from projected results, please read our filings with the U.S. Securities and Exchange Commission (the “SEC”), including the Annual Report on Form 10-K and the Quarterly Reports on Form 10-Q most recently filed with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information or future events or otherwise.
Maria Moreno
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1-301-657-5560
DUBLIN--(BUSINESS WIRE)--The "Global Concentrated Solar Power (CSP) Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
Global concentrated solar power (CSP) market was valued at US$1.107 billion in 2019 and is expected to grow at a CAGR of 10.37% over the forecast period to reach a total market size of US$2.001 billion in 2025.
Concentrated solar power (CSP) plants use mirrors to concentrate the sun's energy to run conventional steam turbine or engines that generate electricity. The thermal energy concentrated in a CSP plant can be stored and used to generate electricity as per requirement, day or night. CSP technology generates electricity by focusing on sunlight.
The concentrated sun's energy is converted into high-temperature heat which is then channeled through a conventional generator. The CSP plant consists of two parts: the first one collects the solar energy and converts it into heat, and the second converts the heat energy into electricity. CSP systems are able to supply solar power on-demand through the use of thermal storage, helping to address grid integration challenges related to the variability of solar energy and enabling solar-generated heat to be stored until the electricity is needed. In addition to powering a turbine, CSP technology can also be used as heat in a variety of industrial applications such as water desalination, food processing, enhanced oil recovery, mineral processing, and chemical production.
By type, power towers is the most popular variant
By type, the global concentrated solar power (CSP) market has been segmented into parabolic trough (PT), solar tower (ST), solar dish (SD), and fresnel reflector (FR). Solar power towers segment holds a considerable share in the global concentrated solar power (CSP) market. Solar power towers make the use of flat sun-tracking mirrors on a large field. These mirrors, called heliostats, reflect and concentrate sunlight onto a receiver on the top of a tower. Parabolic trough segment is projected to grow at a decent CAGR during the forecast period.
North America holds a significant share in the global concentrated solar power (CSP) market
By geography, the global concentrated solar power (CSP) market has been segmented into five major regional markets- North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC).
North America accounted for a substantial share in the global concentrated solar power market in 2019. Currently, approximately 1,815 MW of CSP plants are in operation in the United States. Europe also holds a noteworthy share in the global concentrated solar power (CSP) market with booming investments in Spain. Furthermore, new tariff legislation, growing need for storage, and proven plant performance have further boosted the investors' confidence in Spanish Concentrated Solar Power ownership. Recently in February 2020, Mitsubishi Corporation entered the concentrated solar power (CSP) market with its investments in four CSP power plants in Spain, held by Spanish solar power giant, Acciona, with owning 15 per cent of its share.
Impact of COVID-19 on the global concentrated solar power (CSP) market
The recent global pandemic outbreak caused due COVID-19 has affected the growth of concentrated solar power market. The demand side has negatively impacted on account of nationwide lockdowns which, in turn, has caused a turmoil in the global economic growth, resulting in declining business spending and investments in new projects. On the supply side, global supply chain disruption along with the falling productivity across manufacturing facilities due to mandatory social distancing measures has also reduced the production of concentrated solar power systems. On the demand side, solar installation have been hit hard by this pandemic with subsequent lockdown and declining business spending leading to postpone of several solar projects.
Companies Mentioned
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.5. Industry Value Chain Analysis
4.6. Market Attractiveness
5. Global Concentrated Solar Power Market Analysis, By Type
5.1. Introduction
5.2. Parabolic Trough (PT)
5.3. Solar Tower (ST)
5.4. Solar Dish (SD)
5.5. Fresnel Reflector (FR)
6. Global Concentrated Solar Power Market Analysis, By End User
6.1. Introduction
6.2. Commercial
6.3. Industrial
7. Global Concentrated Solar Power Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/tgq1xr
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Calpine Corporation today announced the pricing of $900,000,000 in aggregate principal amount of its 3.750% Senior Secured Notes due 2031 in a private placement. The offering is expected to close on December 16, 2020, subject to customary closing conditions.
Calpine Corporation intends to use the proceeds from this offering, together with cash on hand (if necessary), to (i) repay approximately $515 million of borrowings outstanding under its first lien term loan facility maturing in 2024 (the “2024 First Lien Term Loan”), (ii) purchase $335 million in aggregate principal amount of its outstanding 5.250% Senior Secured Notes due 2026 (the “2026 Notes”) pursuant to a tender offer or a partial redemption of the 2026 Notes and (iii) pay premiums, fees and expenses relating to this offering, the repayment of the 2024 First Lien Term Loan and the partial 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.
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, 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.
Media Contact:
Brett Kerr
Vice President, External Affairs
713-830-8809
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Investor Contact:
W. Bryan Kimzey
Senior Vice President, Finance & Treasurer
713-830-8775
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NEW YORK--(BUSINESS WIRE)--$PLL #Lithium--Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has awarded the definitive feasibility study (“DFS”) of its planned spodumene concentrate (“SC6”) operations in North Carolina to a combined team including Primero Group (“Primero”) and Marshall Miller & Associates (“Marshall Miller”). Marshall Miller will lead quarry design activities while Primero will advance the concentrator design, infrastructure design, and be responsible for overall study management.
The DFS will target production of 160,000 tonnes per year of SC6 as well as co-products including quartz and feldspar. The study will incorporate the results of the pilot level testwork currently ongoing at SGS Canada. Piedmont expects to complete the DFS in mid-2021 and pursue an investment decision for the concentrate operations shortly thereafter.
Piedmont remains fully committed to development of an integrated lithium hydroxide business in North Carolina and a DFS of a planned lithium chemical plant will commence in Q1 2021.
Earlier in 2020, Piedmont and Primero entered into an MOU to work together on an exclusive basis for project services including the DFS and future services including the EPC delivery, commissioning, ramp-up and contract operations of Piedmont’s spodumene concentrator. Primero is recognized as a world leader in design, delivery, and operations of spodumene projects and globally.
Piedmont has engaged with Marshall Miller since 2018 to advance mine design, permitting activities, survey, geotechnical study, waste rock and tailings storage design, and other engineering support services. Marshall Miller is an experience regional mining engineering firm based in Bluefield, Virginia with extensive experience in open pit mine and quarry design and permitting in North Carolina and throughout the eastern United States.
Keith D. Phillips, President and CEO of Piedmont, commented: “We are very pleased to be formally commissioning the definitive feasibility study for our concentrate operations, and to be working with industry leaders such as Primero and Marshall Miller. We will launch the DFS for our chemical operations in Q1 2021 and will be positioned to begin construction in mid-2021, which should be ideal timing given the vast demand for lithium hydroxide we expect beginning in the 2022-2023 time period.”
Click here to view the complete ASX Announcement.
Keith D. Phillips
President & CEO
T: +1 973 809 0505
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Timothy McKenna
Investor and Government Relations
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Al Williams Named Vice President, Corporate Affairs
Paul Antebi Appointed Vice President and General Tax Counsel
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today named Al Williams vice president of corporate affairs, effective March 1, 2021. The company also appointed Paul Antebi vice president and general tax counsel, effective February 1, 2021.
Williams, 52, succeeds Dale Walsh who is retiring after 38 years of distinguished service. Williams, currently managing director of Chevron Australia and head of the Australasia business unit, will oversee government affairs, public affairs, social investment and performance, and the company’s worldwide efforts to protect and enhance its reputation. He will report to Chevron Chairman and CEO Michael Wirth.
“Al’s career with Chevron has featured multiple international assignments as well as responsibility for some of our most important U.S.-based operations in all three segments of Chevron’s business – Upstream, Midstream and Downstream,” said Wirth. “He brings deep knowledge of our business, global perspective and is a proven leader. Al will be a valued addition to our leadership team at a time of increasing regulatory, social and political complexity for all our businesses.”
“I’m truly grateful to Dale for the contributions he’s made to Chevron’s success over the course of almost four decades,” Wirth added. “Dale has been a trusted advisor to me, an accomplished business leader and an outstanding colleague. Throughout his career in downstream, as well as his time as a corporate officer, Dale has demonstrated an unwavering commitment to creating value for all our stakeholders.”
In a separate appointment, Paul Antebi, 48, has been named vice president and general tax counsel. He succeeds C.N. (Sandy) Macfarlane, who is retiring after 36 years of outstanding performance. Antebi, currently Chevron’s Deputy General Tax Counsel, will be responsible for directing Chevron’s worldwide tax activities. Antebi will report to Chevron Vice President and CFO Pierre Breber.
“Over the course of his career at Unocal and Chevron, Paul has a track record of achievement, establishing himself as an expert in his discipline and a proven leader,” Wirth said. “Sandy has led our tax function with a high degree of professionalism and integrity for the last decade. He is a recognized leader across the tax industry and leaves a strong legacy of accomplishment and business partnership.”
Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
Braden Reddall -- +1 925-842-2209
DUBLIN--(BUSINESS WIRE)--The "Global Thin-Film Module Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
Global Thin-film PV module market was valued at US$9.027 billion in 2019 and is expected to grow at a CAGR of 3.74% over the forecast period to reach a total market size of US$11.253 billion in 2025.
Thin-film solar modules are made from thin-film solar cells. Thin-film solar cells (TFSCs) are the second-generation solar cells which are made from multiple thin-film layers of photovoltaic (PV) materials.
These solar cells have a very thin layer of thickness, measured in nanometers, as compared to conventional P-N junction solar cells. As such, thin-film PV modules are more flexible and lighter in weight and are used in developing integrated photovoltaics. The thin-film technology has been relatively economical despite being lesser efficient compared to the conventional c-Si (crystalline silicon) technology. However, this technology has significantly improved owing to constant research and development over the years. As a result of R&D, the efficiency of CdTe and CIGS PV cells is now over 21 per cent which has outperformed multi-crystalline silicon which still dominates the solar PV module industry.
North America holds a significant share in the global thin-film module market
By geography, the global thin-film module market has been segmented into five major regional markets- North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC).
North America accounted for a substantial share in the global thin-film module market in 2019. With tariff imposition on silicon-based PV modules by the United States in 2018, thin-film solar module manufacturing has increased in the country, with U.S. manufacturer First Solar being one of the major market players in the global thin-film module market. According to the EIA (the U.S. Energy Information Administration), the country manufactured more than 600 MW of thin-film modules in 2019. After this tariff imposition, 8 GW of imported PV modules did not tariff in 2019 while the majority of these modules (4.3 GW) were thin-film modules.
In October 2019, First Solar announced the start of production at its new PV module manufacturing facility in Ohio. This new production facility made the company's total annualized production capacity equal to 1.9 GW in the United States. Both Ohio production facilities manufacture Series 6 module, which is a larger CdTe thin-film solar module and comparable in size to conventional 72-cell crystalline silicon modules. Europe also holds a decent share in the global thin-film module market throughout the forecast period owing to rising R&D activities and high focus on the reduction of carbon footprints across the region.
Impact of COVID-19 on the global thin-film PV module market
The recent global pandemic outbreak caused due COVID-19 has negatively impacted the growth of thin-film PV module market. On the supply side, global supply chain disruption and reduction in productivity across manufacturing facilities due to mandatory social distancing measures has crippled the production of thin-film modules. On the demand side, solar installation have been hit hard by this pandemic with subsequent lockdown and declining business spending leading to postpone of several solar projects.
Companies Mentioned
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
4.5. Market Attractiveness
5. Global Thin-film PV module Market Analysis, By Type
5.1. Introduction
5.2. Copper Indium Gallium Diselenide (CIGS)
5.3. Amorphous Silicon (a-Si)
5.4. Cadmium Telluride (CdTe)
6. Global Thin-film PV module Market Analysis, By Application
6.1. Introduction
6.2. Building Integrated PV
6.3. Rooftop applications
6.4. Utility-scale applications
7. Global Thin-film PV module Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6ox43s
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that on December 2, 2020, Civeo was notified by the New York Stock Exchange (NYSE) that the Company has regained compliance with the NYSE's continued listing standards.
On March 27, 2020, Civeo received notification from the NYSE that the Company had fallen below the continued listing standard to maintain a minimum average closing price of $1.00 per share over 30 consecutive trading days.
Civeo regained compliance after its average closing price for the 30 trading days ended November 30, 2020 and its closing price on November 30, 2020 both exceeded $1.00 per share. The below compliance (“.BC”) indicator has been removed from the Company’s common shares, and the Company was removed from the NYSE list of non-compliant issuers.
About Civeo
Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 28 lodges and villages in Canada, Australia and the U.S., with an aggregate of approximately 30,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at www.civeo.com.
Regan Nielsen
Civeo Corporation
Senior Director, Corporate Development & Investor Relations
713-510-2400
Jeffrey Spittel
FTI Consulting
832-667-5140
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the BofA Securities 2020 Leveraged Finance Virtual Conference. The conference is being held on December 2nd.
The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
HOUSTON--(BUSINESS WIRE)--Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) (“Solaris” or the ”Company”) announced a collaboration with Amazon Web Services, Inc. (AWS) to provide its customers greater insights into oilfield data, including materials and storage usage, trend analysis, equipment and performance analytics, and predictive maintenance features.
Solaris believes a data platform that can both process the record levels of data being generated by operators and oil service companies today and allow customization of data capture and display will give its customers a valuable tool for analysis and data interpretation. The resulting data analytics could be used to drive improvements in safety, efficiency and ultimately lower well costs.
In order to provide these individualized data solutions for its customers, Solaris leveraged multiple AWS analytics capabilities including Amazon Timestream, Amazon Kinesis, Amazon QuickSight, Amazon Athena, and Amazon SageMaker, AWS’s machine learning service that enables data scientists and developers to build, train, and deploy machine learning models quickly.
“We are pleased to work with Solaris, a leader in designing, manufacturing, and renting equipment to energy companies in the US,” Greg Pearson, Vice President, Worldwide Commercial Sales at Amazon Web Services, Inc. “Solaris sees the AWS Cloud as a strategic platform that helps offer increased functionality and lower costs, and transforms complex business and operational systems to enable a more sustainable energy future. By running on AWS, Solaris can use a wide portfolio of capabilities such as analytics and machine learning services to gain better visibility into inventory to reduce waste and proactively identify issues before they happen, which is crucial for energy supply chain optimization.”
“Our customers continue to focus on increasing operational efficiencies in order to maximize cash flow. We firmly believe that innovative data analytics will be a key driver in generating sustainable and quantifiable efficiencies for our customers. Through the use of data analytics and software, our end goal is to leverage machine learning to further automate processes, utilize predictive maintenance, and essentially do more with less, and AWS is helping us accomplish this,” Solaris’ Chairman and Chief Executive Officer Bill Zartler commented.
About Solaris Oilfield Infrastructure, Inc.
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) manufactures and rents mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells. Solaris’ patented mobile proppant and chemical systems are deployed in many of the most active oil and natural gas basins in the United States. Additional information is available on our website, www.solarisoilfield.com.
Yvonne Fletcher
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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Volvo Cars Tech Fund and NextGear Ventures Lead The Investment Round
BROOKLYN, N.Y.--(BUSINESS WIRE)--#Actasys--Actasys, Inc. (Actasys), a leader in applying aerodynamic principles to solve critical problems in the automotive and mobility industries, announced that it recently closed a $5M seed funding round. The investment was led by prominent automotive and mobility investors Volvo Cars Tech Fund and NextGear Ventures.
Actasys’ core technology, the ActaJet™ system, is an electronically controlled array of small actuator cartridges that generate strong jets of air without the need for rotary fans or compressors. The ActaJet system offers multiple safety and efficiency solutions to the automotive and mobility sectors. The lead ActaJet product is for the cleaning and clearing of sensors on vehicles and smart mobility systems. Sensors, such as Lidars, cameras, and infrared sensors, require clear surfaces to ensure optimal operation and safety. Clean sensors enable achievement of higher levels of assisted driving (ADAS) and ultimately autonomous operation. Actasys is working with Volvo Cars to develop an ActaJet sensor cleaning system for use on Volvo cars.
“We are pleased to have such knowledgeable and experienced investors supporting us, recognizing the acute need for sensor cleaning and our potential to greatly increase safety and operations across a wide range of environmental conditions,” said Miles Flamenbaum, CEO of Actasys. “Just one raindrop can alter sensor vision and perception. Our ActaJet system can restore that perception without expensive or difficult to integrate mechanical solutions, placing us in a unique position to enable the automotive and smart mobility industries to achieve a transformation of transportation.”
"We at Volvo Cars are focused on providing customers with the safest and most advanced driving experience,” said Pratik Budhdev, Global Investment Director, of Volvo Cars Tech Fund. “Actasys sits uniquely at the intersection of safety and enabling innovative vehicle driving technologies, which supports our strategy.”
“Actasys has been working with us through Drive's flagship program, FastLane, for the past year to refine their value proposition and business model and to foster relationships with leading OEM’s and Tier-1 suppliers,” said Dr. Tal Cohen, NextGear Ventures Managing Partner and Drive TLV Co-Founder. The market will be dominated by cars and devices equipped with multiple smart sensors that need to be cleaned in order to be effective. We were impressed by Actasys' unique sensor cleaning technology and their ability to solve critical problems in several industry sectors. The market opportunity size, the company's technological advantages and commercial traction, combined with a great team, gave us confidence in their ability to be successful.”
Actasys currently works with leading automotive and transportation companies to address needs for sensor cleaning in the vehicle sector as well as for other sensor critical uses such as robots, camera systems, and traffic monitoring. ActaJet products are also being developed for cooling of electronic components and electric vehicle battery packs as a smart, adaptive replacement of rotary fans or compressed air.
About Actasys, Inc.
Actasys is a development stage company commercializing its unique ActaJet technology for sensor cleaning and advance cooling systems and is establishing leadership in critical areas to enable the safe and efficient future of the automotive and mobility industries. Actasys has multiple product development partnerships with leading automotive and transportation companies and is backed by prominent automotive and mobility investors. For more information, please visit www.actasysinc.com.
Media Inquiries
Miles Flamenbaum, CEO
Actasys, Inc.
Phone: +1 877.722.8279 x700
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LONDON--(BUSINESS WIRE)--#FuelCellsforMarineVesselsMarket--The new fuel cells for marine vessels market research from Technavio indicates negative 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 fuel cells for marine vessels market.
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"One of the primary growth drivers for this market is the Need for Alternate Propulsion Systems,” says a senior analyst for the Industrials industry at Technavio.
Factors such as the release of harmful gases on combustion need for regular maintenance and high operating costs of the diesel engines and gas turbines have increased the adoption of electric propulsion systems. Although the primary electric propulsion systems installed diesel-electric or gas turbine drive systems in the marine industry, current systems have developed to integrate fuel cell technology. Fuel cells convert chemical energy directly into electrical energy, and the absence of expansive, high-temperature combustion in fuel cells offer the benefits of lower noise, vibrations, and NOx formation. As a result, fuel cells are increasingly energy-efficient conversion devices that provide clean, silent, and reliable power. These advantages of alternative propulsion systems and the application of fuel cells for such propulsion applications will drive market growth during the forecast period.
As the markets recover Technavio expects the fuel cells for marine vessels market size to grow by USD 64.91 million during the period 2020-2024.
Fuel Cells for Marine Vessels Market Segment Highlights for 2020
Regional Analysis
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Global Fuel Cell Commercial Vehicle Market: The fuel cell commercial vehicle market size has the potential to grow by 20.14 thousand units during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
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AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will install replacement boiler pressure parts for a power plant in North America. The contract, valued at more than $20 million, was awarded to B&W’s subsidiary, Babcock & Wilcox Construction Co., LLC (BWCC).
Under this contract, BWCC will install new superheater sections and furnace panels, some of which were designed and supplied by B&W under a previous contract, to help extend the life of the plant’s operations.
“B&W Thermal has unmatched experience with installing equipment to maintain and extend the operable lifespan of boilers and other equipment for the North American power fleet,” said B&W Chief Operating Officer Jimmy Morgan. “Whether installing or servicing B&W’s or our competitors’ equipment, we have the resources and knowledge to respond to customers’ needs and deliver reliable solutions.”
“As many of our competitors have stepped back from providing cost-effective plant maintenance and upgrades, B&W Thermal has stepped up to continue supplying these critically important services. We are seeing increasing demand from our customers as they plan long-term strategies in upgrading or converting technologies,” Morgan said.
Installation is scheduled to begin in February 2021, with completion anticipated later in the spring.
B&W Thermal is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services. With significant experience with a wide range of projects — from large, complex projects to small unanticipated quick turnaround repair needs — B&W Thermal has the depth of knowledge and responsiveness necessary to safely deliver dependable services of any size at any facility.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
About B&W Thermal
Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. Babcock & Wilcox Thermal has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to install replacement boiler pressure parts for a power plant in North America. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investors:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Ryan Cornell
Public Relations
Babcock & Wilcox
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HOUSTON--(BUSINESS WIRE)--Calpine Corporation announced today that it has commenced a cash tender offer to purchase up to $335,000,000 in aggregate principal amount (the “Tender Cap Amount”) of its outstanding 5.250% Senior Secured Notes due 2026 (CUSIP Nos.: 131347 CK0 / U13055 AR6 / U13055 AS4) (the “Notes”) (the “Offer”). The terms and conditions of the Offer are described in an Offer to Purchase, dated December 2, 2020 (the “Offer to Purchase”).
The following table summarizes the terms of the Offer:
Title of Securities |
Principal Amount
|
Tender Offer
|
Early Tender
|
Total
|
||||
5.250% Senior Secured Notes due 2026 (CUSIP Nos.: 131347 CK0 / U13055 AR6 / U13055 AS4) |
$1,185,000,000 |
$1,017.25 |
$30.00 |
$1,047.25 |
|
||
(1) |
Per $1,000 principal amount of Notes tendered and accepted for purchase. |
|
(2) |
The Early Tender Payment is included in the Total Consideration for Notes tendered at or prior to the Early Tender Date. |
|
(3) |
Excludes accrued and unpaid interest from the last interest payment date up to, but not including, the applicable settlement date, which will be paid in addition to the Tender Offer Consideration or the Total Consideration, as applicable. |
|
The Offer expires at 11:59 p.m., New York City Time, on December 30, 2020, unless extended or earlier terminated (the “Expiration Date”). The consideration for each $1,000 principal amount of Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m. New York City Time on December 15, 2020, unless extended (the “Early Tender Date”), and accepted for purchase pursuant to the Offer will be the Total Consideration set forth in the table above. The consideration for each $1,000 principal amount of Notes validly tendered after the Early Tender Date and at or prior to the Expiration Date and accepted for purchase pursuant to the Offer will be the Tender Offer Consideration set forth in the table above, which consists of the Total Consideration less the Early Tender Payment set forth in the table above. Holders of Notes tendered after the Early Tender Date will not be eligible to receive the Early Tender Payment.
Holders of Notes validly tendered and accepted for purchase pursuant to the Offer will receive the applicable consideration described above, plus accrued and unpaid interest from the last interest payment date applicable to the Notes to, but not including, the applicable settlement date.
If the aggregate principal amount of Notes validly tendered exceeds the Tender Cap Amount, Calpine Corporation, if it accepts for purchase any Notes under such circumstances, will accept for purchase only an aggregate principal amount of Notes up to the Tender Cap Amount. In such circumstance, the amount of Notes purchased will be prorated, with the aggregate principal amount of each Holder’s validly tendered Notes accepted for purchase determined by multiplying each holder’s tender by a proration factor, and rounding the product down to the nearest $1,000. Furthermore, if the Offer is fully subscribed as of the Early Tender Date, holders who validly tender Notes following the Early Tender Date will not have any of their Notes accepted for purchase.
Tendered Notes may be withdrawn prior to 5:00 p.m., New York City time, on December 15, 2020 (the “Withdrawal Date”). Holders of Notes who tender their Notes after the Withdrawal Date, but at or prior to the Expiration Date, may not withdraw their tendered Notes. The consummation of the Offer is not conditioned upon any minimum amount of Notes being tendered, but is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including, among others, Calpine Corporation consummating one or more financing transactions. Calpine intends to use a portion of the net proceeds from such financing transactions, together with cash on hand (if necessary), to fund the aggregate consideration and accrued interest for all Notes validly tendered (and not withdrawn) pursuant to the Offer and accepted for purchase by us, and to pay all fees and expenses incurred in connection with the Offer. Calpine Corporation intends to issue a conditional notice of partial redemption for the Notes to redeem $335 million in aggregate principal amount of the Notes less the aggregate principal amount of Notes purchased in the Offer. This announcement does not constitute a notice of redemption of the Notes.
J.P. Morgan Securities LLC has been retained as the dealer manager. D.F. King & Co., Inc. has been retained to serve as both the tender agent and the information agent. Persons with questions regarding the Offer should contact J.P. Morgan Securities LLC at (866) 834-4087 (U.S. toll-free) and (212) 834-4087 (collect). Copies of the Offer to Purchase and other related materials may be obtained online at www.dfking.com/calpine or by contacting D.F. King & Co., Inc. at (toll-free) (877) 478-5043 or (collect) (212) 269-5550 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
None of Calpine Corporation or its affiliates, its board of directors, the dealer manager, the tender agent and the information agent or the trustee for the Notes, makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of the Notes or any other securities in any state in which such offer, solicitation or sale would be unlawful. The Offer is made only through the use of the Offer to Purchase. The Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Offer is required to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Calpine Corporation by the dealer manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
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, those concerning our expected financial performance and strategic and operational plans, 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.
Media Contact:
Brett Kerr
Vice President, External Affairs
713-830-8809
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Investor Contact:
W. Bryan Kimzey
Senior Vice President, Finance & Treasurer
713-830-8775
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) Chief Financial Officer John Chandler is scheduled to participate in virtual meetings with investors, including a fireside chat Q&A session, at the 2020 Wells Fargo Virtual Midstream Utility Symposium on Wednesday, December 9.
The fireside chat will begin at approximately 3:20 p.m. Eastern Time (2:20 p.m. Central Time), and a link to the live webcast, as well as a replay, will be available at https://investor.williams.com. A copy of the presentation used during the investor meetings will also be posted on the company’s website the morning of December 9.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
MEDIA:
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(800) 945-8723
INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
LONDON--(BUSINESS WIRE)--#apac--The new Natural Gas Utilities market research report from SpendEdge indicates an incremental growth during the forecast period as the business impact of COVID-19 spreads.
As the markets recover SpendEdge expects the Natural Gas Utilities market size to grow by 259 USD billion during the period 2020-2024.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the Natural Gas Utilities market. Download free report sample
Natural Gas Utilities Market Analysis
Analysis of the cost and volume drivers and supply market forecasts in various regions are offered in this Natural Gas Utilities research report. This market intelligence report also analyzes the top supply markets and the critical cost drivers that can aid buyers and suppliers devise a cost-effective category management strategy.
Insights Delivered into the Natural Gas Utilities Market
This market intelligence report on Natural Gas Utilities answers to all the critical problems faced by investors who seek cost-saving opportunities in a competitive market. It also offers actionable anecdotes on the industry structure and supply market forecasts including highlights of the top vendors in this market. Our procurement experts have determined effective category pricing strategies that are attuned to the dynamics of this market which can be leveraged to maximize revenue generation against minimum investments on the products.
Information on Latest Trends and Supply Chain Market Information Knowledge center on COVID-19 impact assessment
The reports help buyers understand:
This Natural Gas Utilities Market procurement research report offers coverage of:
For more information on the exact spend growth rate and yearly category spend, download a free sample.
This market intelligence report identifies the major costs incurred by suppliers and provides additional information on:
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
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Table of Content
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DUBLIN--(BUSINESS WIRE)--The "Pipeline Monitoring System Market Report: Trends, Forecast, and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.
The global pipeline monitoring system market is expected to grow with a CAGR of 7% from 2019 to 2024.
The future of the pipeline monitoring system market looks promising with opportunities in the water and wastewater and crude and refined petroleum industries. The major growth drivers for this market are the need for increase in pipeline infrastructure, secure transportation of resources, increase in incidence of oil & gas leakage, rising oil & gas demand in developing economies, and increased government regulations for safety and monitoring.
Some of the pipeline monitoring systems companies profiled in this report include Atmos, Clampon, Future Fibre Technologies, Senstar, Syrinix, Radiobarrier, TTK (France), Krohne Group, Thales Group, and ABB Group.
Some of the features of 'Global Pipeline Monitoring System market 2019-2024: Trends, Forecast, and Opportunity Analysis' include:
This report answers the following 11 key questions:
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2013 to 2024
3.1: Macroeconomic Trends and Forecast
3.2: Global Pipeline Monitoring System Market: Trends and Forecast
3.3: Global Pipeline Monitoring System Market by Pipe Type
3.3.1: Metallic
3.3.2: Non-Metallic
3.3.3: Others
3.4: Global Pipeline Monitoring System Market by Technology
3.4.1: PIGs
3.4.2: Smart Ball
3.4.3: Ultrasonic
3.4.4: Magnetic Flux Leakage Technology
3.4.5: Others
3.5: Global Pipeline Monitoring System Market by Application
3.5.1: Leak Detection
3.5.2: Operating Condition
3.5.3: Pipeline Break Detection
3.5.4: Others
3.6: Global Pipeline Monitoring System Market by End-Use Industry
3.6.1: Crude & Refined Petroleum
3.6.2: Water & Wastewater
3.6.3: Others
4. Market Trends and Forecast Analysis by Region
4.1: Global Pipeline Monitoring System Market by Region
4.2: North American Pipeline Monitoring System Market
4.2.1: Market by Pipe Type: Metallic, Non-Metallic, and Others
4.2.2: Market by Technology: PIGs, Smart Ball, Ultrasonic, Magnetic Flux Leakage Technology, and Others
4.2.3: Market by Application: Leak Detection, Operating Condition, Pipeline Break Detection, Others
4.2.4: Market by End-Use Industry: Crude & Refined Petroleum, Oil, Natural Gas, Biofuel, Water & Wastewater and Others
4.3: European Pipeline Monitoring System Market
4.4: APAC Pipeline Monitoring System Market
4.5: ROW Pipeline Monitoring System Market
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for Global Pipeline Monitoring System Market by Pipe Type
6.1.2: Growth Opportunities for Global Pipeline Monitoring System Market by Technology
6.1.3: Growth Opportunities for Global Pipeline Monitoring System Market by Application
6.1.4: Growth Opportunities for Global Pipeline Monitoring System Market by End-Use Industry
6.1.5: Growth Opportunities for Global Pipeline Monitoring System Market by Region
6.2: Emerging Trends in Global Pipeline Monitoring System Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of Global Pipeline Monitoring System Market
6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Pipeline Monitoring System Market
7. Company Profiles of Leading Players
7.1: Atmos
7.2: Clampon
7.3: ABB Group
7.4: Future Fibre Technologies
7.5: Senstar
7.6: Syrinix
7.7: Radiobarrier
7.8: TTK (France)
7.9: Krohne Group
7.10: Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/pt1qu4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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