DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com published a new article on the Oil industry "Faced With a Surplus of Crude Oil Stockpiles Commodity Traders Are Booking Tankers for Storage"
Oil prices slid again on 10 September as U.S. crude stockpiles rose, showing that demand is still weak from the pandemic, according to an article in CNBC today. Coronavirus cases are still rising in many US states, forcing many to work from home or businesses to shut down operations in that lucrative oil market.
Faced with a surplus of crude stockpiles, commodity traders are booking tankers to store crude oil and diesel on the water, with supply outpacing consumption. OPEC leaders will meet in mid-September, and Citi analysts noted that if markets continue to weaken, the organisation will trim global output further.
For more information about this report visit "Faced With a Surplus of Crude Oil Stockpiles Commodity Traders Are Booking Tankers for Storage"
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Terminal upgraded its TOS as part of larger plans to incorporate more automation at the terminal
OAKLAND, Calif.--(BUSINESS WIRE)--Navis, a part of Cargotec Corporation, and the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced today that SOCAR Terminal has upgraded to Navis N4 3.7, the latest version at the time the project has begun, to digitize and modernize its operations. The terminal upgraded its TOS to stay competitive in the industry and remain a leading terminal in the region with enhanced offerings through N4.
As the largest container terminal in the Aegean region, SOCAR Terminal handles both container and project cargo at its location, and is equipped to operate at 1.5 million TEU annually. As part of its greater digital transformation plans to optimize operations at the terminal, SOCAR Terminal opted to upgrade its TOS to N4 to aid in its goals of becoming the most state-of-the-art terminal with the highest productivity in the region. The terminal will also be using the upgraded TOS to improve performance and to optimize operating costs.
“Due to COVID-19 pandemic, the N4 upgrade was successfully completed semi-remotely at SOCAR Terminal as a result of the hard work and dedication of both the Navis and SOCAR Terminal teams,” said Arcan Fayatorbay, COO of SOCAR Terminal. “We are glad that Navis was able to help facilitate our upgrade, even in these uncertain times, so we could offer existing and potential customers the most innovative technology and service at our terminal.”
“At Navis, we realize the flow of trade is more important than ever and know it’s critical to our customers that their business is able to continue and flourish especially during these times,” said Jacques Marchetti, General Manager, EMEA, at Navis. “By providing top-of-the-line technology through our TOS, we are able to help our customers increase efficiency and keep them on track to meet their business goals with no disruptions. We look forward to continuing to be a partner to SOCAR Terminal and working with them on their automation needs to reach their business and productivity goals.”
For more information visit www.navis.com.
About Navis, LLC
Navis, a part of Cargotec Corporation, is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps streamline operations. www.navis.com
About Cargotec Corporation
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimize global cargo flows and create sustainable customer value. Cargotec's sales in 2019 totaled approximately EUR 3.7 billion and it employs around 12,000 people. www.cargotec.com
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Geena Pickering
Affect
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DUBLIN--(BUSINESS WIRE)--The "Sonobuoy - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Sonobuoy estimated at US$287.4 Million in the year 2020, is projected to reach a revised size of US$420.9 Million by 2027, growing at a CAGR of 5.6% over the analysis period 2020-2027. Bathythermo Buoy, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$86.7 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 Search and Rescue Buoy segment is readjusted to a revised 5.7% CAGR for the next 7-year period.
The Sonobuoy market in the U. S. is estimated at US$84.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$74 Million by the year 2027 trailing a CAGR of 5.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 4.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.
In the global Directional Command Activated segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$26.3 Million in the year 2020 will reach a projected size of US$38.4 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$48.3 Million by the year 2027.
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
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/4hzuvu
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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The Lotus Solar Farm powers more than 12,000 households in Madera County, California and reduces carbon emissions by 48,000 metric tons each year
LOS ANGELES--(BUSINESS WIRE)--#cleanenergy--8minute Solar Energy (8minute) today announced the 67-megawatt (MWdc) Lotus Solar Farm in Madera County, California is now fully operating. The Lotus Solar Farm produces energy for well over 12,000 Southern California homes, delivered through a 20-year power purchase agreement (PPA) with Southern California Edison, and will reduce carbon emissions by more than 48,000 metric tons each year.
“California is a global leader in solar energy – but as past weeks have shown, also at the epicenter of climate change impacts,” said Dr. Tom Buttgenbach, Founder and CEO of 8minute. “Smoke-reddened skies prove we have no time to waste, and as the largest solar developer in the state, we know we must lead the way to clearer days. The Lotus Solar Farm is yet another 8minute project that demonstrates how solar is a win-win solution: fighting climate change and air pollution while creating value for investors and landowners alike. We look forward to continuing to power a robust solar industry in California and beyond, working with investment partners like Allianz Global Investors and others across the international investor community to help accelerate the global clean energy transition.”
The 375-acre project was strategically sited on low-productivity former grazing land and created 300 peak union jobs in Madera County during construction. Dedicated to greenfield development, 8minute acquired the land and conducted permitting for the Lotus Solar Farm, obtained the interconnection agreement, secured the PPA and managed construction through to commercial operations.
Allianz Global Investors (AllianzGI), one of the world’s leading active asset managers, acquired the project from 8minute late last year, marking the AllianzGI Infrastructure Equity team’s first U.S. solar project purchase.
“We feel incredibly proud that our first investment in the U.S. renewable energy landscape was completed in California. The Lotus Solar Farm not only represents a smart financial investment, but also underscores the environmental and social opportunities that are available in the country’s clean energy transition,” said Armin Sandhoevel, Chief Investment Officer, Infrastructure Equity at Allianz Global Investors. “As demand rightly trends towards renewables amid a changing weather climate, we look forward to ongoing strategic collaboration with 8minute – a firm committed to shepherding a clean energy future into reality with each well-executed project.”
8minute and AllianzGI worked together to secure tax equity investment from independent power producer and developer Tenaska.
“We applaud the strong partnership between 8minute and AllianzGI as they have successfully brought this project to commercial operation. Tenaska is excited to utilize our broad industry experience and financial flexibility as a tax equity investor,” said Dave Kirkwood, Senior Vice President of Finance at Tenaska. “Projects like the Lotus Solar Farm are proof of how the solar industry continues to innovate to deliver profitable solar projects to power communities of all sizes.”
8minute and AllianzGI secured additional financing in a $140 million construction debt package, letter of credit and term loan facility from CIT and NORD/LB, with participation from Siemens and Commerzbank.
Signal Energy provided the Engineering, Procurement, and Construction (EPC) services for Lotus, while key suppliers included NEXTracker with its NX Horizon™ smart solar tracker and TMEIC with 14 of their Ninja 4200 central inverters.
ABOUT 8MINUTE SOLAR ENERGY
As a nationwide leader in solar-plus-storage, 8minute Solar Energy (8minute) is championing the clean energy transition in the United States and shaping the future of energy. Since its founding in 2009, 8minute has successfully put 2 GW of solar projects into operation and currently has over 18 GW of solar and storage projects under development. By focusing on technology and engineering innovation, 8minute’s best-in-class team has continued to set new industry records, developing the largest solar plant in the nation starting in 2012, delivering the first operational solar plant in the U.S. to beat fossil fuel prices in 2016, and setting the record for the lowest cost solar and solar-plus-storage projects in 2019. As the largest solar developer in the country with an established track record of delivering above-market profitability, 8minute is pioneering a new generation of large-scale, fully dispatchable solar power. For more information, please visit www.8minute.com, and follow 8minute on Twitter and LinkedIn.
ABOUT ALLIANZ GLOBAL INVESTORS
Allianz Global Investors is a leading active asset manager with 760 investment professionals in 25 offices worldwide and managing $604 billion in assets for individuals, families and institutions.
Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.
Active is: Allianz Global Investors
Data as at 30 June 2020
ABOUT TENASKA
Tenaska, based in Omaha, Nebraska, is one of the leading independent energy companies in the United States. Forbes magazine consistently ranks Tenaska among the 50 largest private U.S. companies. Gross operating revenues were approximately $9.9 billion in 2019.
Tenaska has developed approximately 10,500 megawatts (MW) of natural gas-fueled and renewable power projects. Affiliate Tenaska Solar Ventures provides development services for roughly 6,000 MW of renewable solar capacity. Tenaska and its affiliates have managed the acquisition and divestiture of 10,500 MW of energy assets.
The current Tenaska operating fleet includes 12 natural gas-fueled and renewable generating facilities able to generate approximately 8,200 MW combined. Tenaska affiliates are industry leaders in natural gas and electric power marketing. Tenaska Marketing Ventures (TMV) is among the top five largest natural gas marketers in North America and is the top-ranked natural gas pipeline capacity trader. Tenaska Power Services Co. is the leading provider of energy management services to generation and demand-side customers in the U.S., with more third party-owned generation under management than any other provider. For more information, visit www.tenaska.com.
Katie Struble
Director, Corporate Communications
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(All amounts in US$ unless otherwise specified and reflect 100% of the project)
VANCOUVER, British Columbia--(BUSINESS WIRE)--#capstonemining--Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) announces its 70% owned subsidiary Minera Santo Domingo (“MSD”) has entered into a memorandum of understanding (“MOU”) with Puerto Abierto S.A. (“PASA”) a wholly owned subsidiary of Puerto Ventanas S.A. (“Puerto Ventanas”) (subsidiary of Sigdo Koppers S.A.) for Capstone’s Santo Domingo project in Region III, Chile (“Santo Domingo” or the “Project”). During a 90 day period, both MSD and PASA will together explore mutual synergies and regional benefits for the proposed port component of the Santo Domingo Project, Puerto Santo Domingo (the “Port”). The Port is fully permitted and located 100 kms from the Santo Domingo project site (see Figure 1). It will be one of only two Cape-size vessel ports in the region, making it an attractive site for bulk shipments and a key asset allowing for broad resource development in Region III of Chile.
MOU DETAILS
MSD will allow PASA to study, at its own cost, during a term of 90 days, the Project engineering and conduct a market study. PASA is looking to potentially acquire, construct, operate and maintain the deep-water Port, including financing its development. Once in operation, Santo Domingo will receive preferred service as its volumes will represent a baseload of business for the Port. The MOU also gives PASA 90 days to evaluate the replacement of the 110 km magnetite concentrate pipeline with a railway as part of its rail business, Ferrocarril del Pacifico S.A. (FEPASA). The Santo Domingo project infrastructure that is under consideration in this MOU represents approximately $400 million of the CAPEX identified in the most recent NI 43-101 Technical Report and includes:
“Over the past three months we have seen a surge in interest in our fully permitted Santo Domingo project,” said Darren Pylot, President and CEO of Capstone. “I believe this relationship with Puerto Ventanas will serve as a major catalyst for our Santo Domingo Project. Our path forward includes successful culmination of the strategic sales process, executing a gold stream agreement and arranging project debt financing.”
“A partnership with PASA would simplify the Santo Domingo project as we would focus on construction and operational ramp-up of the mine site only, lowering our upfront capital requirements and allow each company to focus on their core business,” said Dr. Albert Garcia, VP, Projects at Capstone. “This, coupled with the fixed cost, turn-key proposal from POSCO E&C, an internationally recognized, reputable EPC contractor for the mine site, significantly de-risks the overall Project.”
“The signing of this MOU is a great opportunity for Puerto Ventanas to work with Capstone and to contribute our expertise providing port services and railway cargo solutions. Our track record is internationally recognized in the logistic services and we are confident that we can contribute to the success of the development of Minera Santo Domingo,” said Juan Eduardo Errázuriz, Chairman at Puerto Ventanas.
“We are looking forward to working with Capstone to offer them the best technical and economical solution for MSD logistics needs,” said Jorge Oyarce, CEO at Puerto Ventanas.
FIGURE 1: The District has enormous potential for copper and iron ore mine development
ABOUT PUERTO ABIERTO S.A.
PASA is a part of the Chilean conglomerate Sigdo Koppers S.A., who has operations in five continents and its business activities are organized into three business areas: mining; industrial construction, transportation and logistics; and machinery and car distribution. https://puertoventanas.cl/en/
ABOUT CAPSTONE MINING CORP.
Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin copper-silver mine in Zacatecas State, Mexico. In addition, Capstone owns 70% of Santo Domingo, a large scale, fully-permitted, copper-iron-gold project in Region III, Chile, in partnership with Korea Resources Corporation, as well as a portfolio of exploration properties. Capstone's strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. We are committed to the responsible development of our assets and the environments in which we operate. Our headquarters are in Vancouver, Canada and we are listed on the Toronto Stock Exchange (TSX). Further information is available at www.capstonemining.com.
COMPLIANCE WITH NI 43-101
Unless otherwise indicated, Capstone has prepared the technical information in this news release based on information contained in the technical reports and news releases (collectively the “Disclosure Documents”) available under Capstone Mining Corp.’s company profile on SEDAR at www.sedar.com. Each Disclosure Document was prepared by or under the supervision of a qualified person (a “Qualified Person” or “QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”). For readers to fully understand the information in this news release, they should read the Technical Reports (available on www.sedar.com) in their entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this presentation which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Disclosure Documents are each intended to be read as a whole, and sections should not be read or relied upon out of context. The Technical Information is subject to the assumptions and qualifications contained in the Disclosure Documents. For further details refer to the Company’s NI 43-101 Technical Report Santo Domingo Project, Region III, Chile, Feasibility Study Update, published March 24, 2020, effective February 19, 2020. The Technical Information in this news release has been prepared in accordance with NI 43-101 and reviewed and approved by Albert Garcia III, PE, Vice President, Projects, a Qualified Person as defined in NI 43-101.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release, and the documents incorporated by reference herein, contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date of this document and Capstone Mining Corp. (“Capstone” or the “Company”) does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. Forward-looking statements relate to future events or future performance and reflect our expectations or beliefs regarding future events. Forward-looking statements include, but are not limited to, statements with respect to the continuing success of mineral exploration, Capstone’s ability to fund future exploration activities, the estimation of mineral resources and mineral reserves, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production and capital expenditures, the cost of capital expenditures for the Santo Domingo Project, our ability to separate any permits required for the Port if necessary, the success of our mining operations, the estimation of increased cathode production, the ability to obtain required permits for the intended expanded leaching activity, the estimation of the expected economics of the expanded leaching activities, the estimations for potential quantities and grade of inferred resources and exploration targets, environmental risks, unanticipated reclamation expenses and title disputes. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “aiming”, “approximately”, “guidance”, “scheduled”, “target”, “estimates”, “forecasts”, “extends”, “convert”, “potential”, “intends”, “anticipates”, “believes” or variations of such words and phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, amongst others, permitting risks related to the Port, risks related to inherent hazards associated with mining operations and closure of mining projects, the inherent uncertainty of mineral exploration and estimations of exploration targets, potential delays in exploration or interruption of production directly or indirectly related to COVID-19 or governmental action, future prices of copper and other metals, compliance with financial covenants, surety bonding requirements, our ability to raise capital or fund explorations, Capstone’s ability to acquire properties for growth, counterparty risks associated with sales of our metals, foreign currency exchange rate fluctuations, changes in general economic conditions, risks associated with hedging strategies, accuracy of mineral resource and mineral reserve estimates, operating in foreign jurisdictions with risk of changes to governmental regulation, compliance with governmental regulations, compliance with environmental laws and regulations, reliance on approvals, licences and permits from governmental authorities, impact of climatic conditions on our operations, aboriginal title claims and rights to consultation and accommodation, land reclamation and mine closure obligations, uncertainties and risks related to the potential development of the Cozamin project, increased operating and capital costs, challenges to title to our mineral properties, maintaining ongoing social license to operate, dependence on key management personnel, potential conflicts of interest involving our directors and officers, corruption and bribery, limitations inherent in our insurance coverage, labour relations, increasing energy prices, competition in the mining industry, risks associated with joint venture partners, our ability to integrate new acquisitions into our operations, cybersecurity threats, legal proceedings, and other risks of the mining industry as well as those factors detailed from time to time in the Company’s interim and annual financial statements and MD&A of those statements, all of which are filed and available for review under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause our actual results, performance or achievements to differ materially from those described in our forward-looking statements, there may be other factors that cause our results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements will prove to be accurate, as our actual results, performance or achievements could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on our forward-looking statements.
Jerrold Annett, VP, Strategy and Capital Markets
416-572-2272
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Virginia Morgan, Manager, IR and Communications
604-674-2268
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PHILADELPHIA--(BUSINESS WIRE)--Philly Shipyard, Inc., the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), will participate in the U.S. Navy’s Auxiliary General Ocean Surveillance (T-AGOS(X)) industry studies under an award made to its teammate and prime contractor, BMT Designers & Planners, Inc. BMT is a leading independent naval architecture and marine engineering design consultancy experienced in supporting U.S. Government shipbuilding programs.
The industry studies are the precursor for the future detail design and construction (DD&C) contract to replace the existing ocean surveillance ships that gather underwater acoustical data. The T-AGOS ships are operated by Military Sealift Command to support the anti-submarine warfare mission of the commanders of the Atlantic and Pacific fleets. Upon completion of the industry studies, bidders will compete for the DD&C contract. A contract award for the DD&C of the first vessel, plus options for up to six additional vessels, is anticipated in 2022.
Steinar Nerbovik, Philly Shipyard President and CEO, remarked “Philly Shipyard is excited to take part in these industry studies. Working alongside BMT, together we look forward to providing the detailed research that will shape the future of these vessels and the important mission they serve.”
Philly Shipyard is now participating in industry studies for three U.S. Government shipbuilding programs, including the T-AGOS program. Philly Shipyard will continue its work on the other two industry studies, one supporting the U.S. Navy’s Common Hull Auxiliary Multi-Mission Platform (CHAMP) program and another supporting the U.S. Coast Guard’s Offshore Patrol Cutter (OPC) program.
About Philly Shipyard:
Philly Shipyard, Inc. (PSI) is a leading U.S. shipbuilder that is presently pursuing a mix of commercial and government work. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as a preferred provider of oceangoing merchant vessels with a track record of delivering quality ships, having delivered around 50% of all large ocean-going Jones Act commercial ships since 2000. PSI is the sole operating subsidiary of Philly Shipyard ASA. Philly Shipyard ASA is listed on the Oslo Stock Exchange (Oslo: PHLY) and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Aker BP, Aker BioMarine, Ocean Yield and Akastor.
Kelly Whitaker / +1 215 875 2640
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DUBLIN--(BUSINESS WIRE)--The "North Sea Oil and Gas Upstream Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
North Sea oil and gas upstream market is expected to grow at a CAGR of over 3% during the forecast period of 2020-2025
Factor such as the reduction in the offshore drilling cost by 40% is expected to drive the North Sea oil and gas upstream market. However, the increasing usage of renewable to meet energy needs is likely to restrain the North Sea oil and gas upstream market.
Key Market Trends
Shallow Water Segment Expected to See Significant Market Growth
United Kingdom to Dominate the Market
Competitive Landscape
The North America oil and gas upstream market is moderately fragmented. Some of key players in this market include Equinor ASA, Exxon Mobil Corporation, Royal Dutch Shell Plc, BP plc, and Total SA.
Key Topics Covered:
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 North Sea Oil and Gas Production Forecast, till 2025
4.2.1 Crude Oil Production Forecast, in Thousands Barrel per Day
4.2.2 Natural Gas Production Forecast, in Million Tons Oil Equivalent
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 North Sea Active Rig Count, till 2020
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
4.8.1 Bargaining Power of Suppliers
4.8.2 Bargaining Power of Consumers
4.8.3 Threat of New Entrants
4.8.4 Threat of Substitutes Products and Services
4.8.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Water Depth
5.1.1 Shallow Water
5.1.2 Deep Water
5.2 Geography
5.2.1 United Kingdom
5.2.2 Norway
5.2.3 Others
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Equinor ASA
6.3.2 Exxon Mobil Corporation
6.3.3 Royal Dutch Shell Plc
6.3.4 BP plc
6.3.5 Eni SpA
6.3.6 Total SA
6.3.7 UK Oil & Gas PLC
6.3.8 Schlumberger Limited.
6.3.9 Transocean LTD
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hsxdbv
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SAN DIEGO--(BUSINESS WIRE)--#climateweek--XENDEE Corporation has developed and implemented a new patent pending algorithm capable of reducing the runtime required for multi-year techno-economic optimization of a Microgrid by 12,000% versus existing solutions. This technique allows project planners to optimize Microgrid designs and analyze projected returns far more accurately, while visualizing the changing system dispatch as a response to degradation and strategic reinvestments.
XENDEE’s new Adaptive Multi-year Analysis algorithm delivers unrivaled accuracy by considering key changes in the technical and financial environment including: demand growth, updated fuel prices, utility tariffs, actual loan terms, changing technology capital costs, and new carbon taxes, amongst others. Additionally, this adaptive solution reduces runtimes to such an extent, that engineers and even sales professionals are able to run cloud based optimizations and feasibility studies on-site, enabling an entirely new set of business opportunities and rapid client acquisition.
“The key to unlocking more investment in distributed energy is reliable financial projections,” said Michael Stadler, Ph.D., CTO of XENDEE. “Governments, corporations and private citizens all over the world recognize the benefits of distributed energy resources, but to reach a critical mass of Microgrid technologies, the value has to be predictable, reliable and financially viable to investors, lenders and decision makers.”
XENDEE’s new algorithm looks at the complex problem of analyzing each year of Microgrid development in a novel yet creatively simple way. Unlike competing systems that analyze the entire project timeline in one grand equation, XENDEE creates an adaptive series, moving through each year of the project horizon independently allowing the software to make the right decision at each year of the timeline before updating all the relevant data and moving onto the next year. This solution not only decreases the runtimes of multi-year optimizations by up to 12,000% but also creates a more accurate solution by prioritizing known and current information before making assumptions about the future.
Additionally, the XENDEE platform can make intelligent decisions during each year, such as recommending against a certain technology or suggesting that investment be broken up over the project horizon to take advantage of new policies or developments.
“XENDEE is the only optimization software with a 'real' multi-year optimization framework. This is incredibly important, since reinvestment and degradation can change project financials such as NPV and IRR significantly,” said Zack Pecenak, Ph.D., Lead Engineer at XENDEE. “Competing technologies have the ability to consider multiple years, but with limited projection options, its effect is either minimized or unnecessarily magnified and does not examine any reinvestment. Additionally, the run times can be significant enough to dissuade professional use, limiting the accuracy of multimillion dollar investment decisions.”
Together with the other stages of XENDEE’s end-to-end microgrid design platform, this new multi-year adaptive optimization tool facilitates a quick and efficient design process. Additionally, as a cyber-secure Software as a Service solution, the entire XENDEE platform is designed to keep all relevant data in one streamlined system from initial viability studies to advanced powerflow simulation, as well as facilitate sharing projects securely between teams or forwarding branded financial projections to clients and financiers.
About XENDEE: XENDEE develops Microgrid design automation and decision support software that helps planners and investors validate the technical and financial performance of projects with confidence. The platform enables a broad audience, from business decision makers to scientists, with the objective of supporting investments in Microgrids and DER projects as well as maintaining electric power reliability when integrating sources of renewable generation.
Jay Gadbois | This email address is being protected from spambots. You need JavaScript enabled to view it.
COLUMBUS, Ohio--(BUSINESS WIRE)--Washington Prime Group Inc. (NYSE: WPG) today announced as part of its sustainability efforts the completion of the solar panel system at Weberstown Mall, located in Stockton, California. The system is comprised of 3,456 photovoltaic (PV) modules, spanning more than 76,645 SF, offsetting approximately 37,400 tons of CO2 equivalent over 25 years.
Under the terms of the agreement, Safari Energy developed, financed, and built the project, with Washington Prime Group to purchase all the electricity generated by the system from Safari. The rooftop solar system at Weberstown Mall allows the Company to convert unused roof space into a productive source of energy for the center. While significant cost savings are not expected for Washington Prime Group or its tenants, the system is expected to generate over 1,919,874 kilowatt hours of green energy per year, the lifetime equivalent of eliminating more than 78,575 barrels of oil.
David Heyman, Chief Executive Officer, Safari Energy, said: “We applaud Washington Prime Group’s vision on sustainability, and are proud to deliver green energy solutions for the team from coast to coast. The Weberstown Mall project is our second with WPG and Safari Energy’s 32nd commercial-scale solar project completed in California, and we look forward to many more in the pipeline in the state.”
In 2019, Washington Prime Group announced the completion of a solar panel system at Jefferson Valley Mall, located in Yorktown Heights, New York. The system is comprised of 2,746 photovoltaic (PV) modules, spanning more than 73,000 SF, offsetting approximately 22,190 tons of CO2 equivalent over 25 years. The Company is working to establish a long-term goal for the installation of renewable energy generation technology and is currently exploring opportunities for additional solar panel projects across its portfolio.
Safari Energy is a leading provider of solar energy solutions for commercial customers in the US. Safari has developed and built several hundred commercial-scale projects for real estate and Fortune 500 customers across 23 states. Safari utilizes its deep market experience in a client focused model to develop solar projects that deliver superior financial value.
To learn more about the sustainability efforts at Washington Prime Group, visit its, social, and governance or ESG microsite at http://interactive.washingtonprime.com/esg/p/.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more at www.washingtonprime.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 which represent the current expectations and beliefs of management of Washington Prime Group Inc. (“WPG”) concerning the proposed transactions, the anticipated consequences and benefits of the transactions and the targeted close date for the transactions, and other future events and their potential effects on WPG, including, but not limited to, statements relating to anticipated financial and operating results, the Company’s plans, objectives, expectations and intentions, cost savings and other statements, including words such as “anticipate,” “believe,” “confident,” “plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,” and other similar expressions. Such statements are based upon the current beliefs and expectations of WPG’s management, and involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of WPG to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, without limitation: changes in asset quality and credit risk; ability to sustain revenue and earnings growth; changes in political, economic or market conditions generally and the real estate and capital markets specifically; the impact of increased competition; the availability of capital and financing; tenant or joint venture partner(s) bankruptcies; the failure to increase store occupancy and same-store operating income; risks associated with the acquisition, disposition, (re)development, expansion, leasing and management of properties; changes in market rental rates; trends in the retail industry; relationships with anchor tenants; risks relating to joint venture properties; costs of common area maintenance; competitive market forces; the level and volatility of interest rates; the rate of revenue increases as compared to expense increases; the financial stability of tenants within the retail industry; the restrictions in current financing arrangements or the failure to comply with such arrangements; the liquidity of real estate investments; the impact of changes to tax legislation and WPG’s tax positions; losses associated with closures, failures and stoppages associated with the spread and proliferation of the coronavirus (COVID-19) pandemic; to qualify as a real estate investment trust; the failure to refinance debt at favorable terms and conditions; loss of key personnel; material changes in the dividend rates on securities or the ability to pay dividends on common shares or other securities; possible restrictions on the ability to operate or dispose of any partially-owned properties; the failure to achieve earnings/funds from operations targets or estimates; the failure to achieve projected returns or yields on (re)development and investment properties (including joint ventures); expected gains on debt extinguishment; changes in generally accepted accounting principles or interpretations thereof; terrorist activities and international hostilities; the unfavorable resolution of legal or regulatory proceedings; the impact of future acquisitions and divestitures; assets that may be subject to impairment charges; significant costs related to environmental issues; changes in LIBOR reporting practices or the method in which LIBOR is determined; and other risks and uncertainties, including those detailed from time to time in WPG’s statements and periodic reports filed with the Securities and Exchange Commission, including those described under “Risk Factors”. The forward-looking statements in this communication are qualified by these risk factors. Each statement speaks only as of the date of this press release and WPG undertakes no obligation to update or revise any forward-looking statements to reflect new information, subsequent events or circumstances. Actual results may differ materially from current projections, expectations, and plans, if any. Investors, potential investors and others should give careful consideration to these risks and uncertainties.
Kimberly A. Green, VP, Investor Relations & Corporate Communications, Washington Prime Group, 614.887.5647 or This email address is being protected from spambots. You need JavaScript enabled to view it.
Growing midstream company selects Quorum Software based on deep industry experience, proven technology and exceptional customer service.
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), the leader in digital transformation for the oil and gas industry, today announced that Brazos Midstream has selected its myQuorum TIPS gathering and processing solution to streamline data, simplify the settlement process and increase data accuracy.
Brazos is a growth-oriented, Delaware Basin-focused oil and gas company that operates 1,000 miles of gas gathering pipeline and 75 miles of crude pipeline. With three plants in Brazos’ natural gas processing complex and a total operated processing capacity of 460 MMcf/d, the company needed a software partner to help manage all of its gas gathering and processing requirements.
“When it came to our system selection, Quorum was the clear choice based on their deep industry experience, knowledge of the midstream business and their understanding of Brazos,” said John Souders, Controller at Brazos Midstream. “We appreciated Quorum’s partnership approach and openness to work with us towards a solution. With myQuorum TIPS, we will be saving roughly 30 hours per month and completing our end-to-end settlement process a lot faster.”
“Data accuracy and process automation are critical for our customers as they continue to navigate external market pressures and find ways to remain competitive,” said Gene Austin, chief executive officer at Quorum. “We’re excited to partner with companies like Brazos to enhance their operational efficiency, reduce unnecessary processes and support their growth.”
Quorum’s gas gathering and processing solution provides the following benefits to Brazos:
Learn more about how Quorum Software is helping companies like Brazos Midstream by visiting https://www.quorumsoftware.com/products/gathering.
About Quorum Software
Quorum Software offers an industry-leading portfolio of finance, operations, and accounting solutions that empower our customers to streamline operations that drive growth and profitability across the energy value chain. From supermajors to startups, from the wellhead to the city gate, energy businesses rely on Quorum. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to drive innovation. We’re helping visionary leaders transform their companies into modern energy workplaces. For more information, visit www.quorumsoftware.com.
About Brazos Midstream
Headquartered in Fort Worth, Texas, Brazos is one of the largest private natural gas and crude oil midstream companies in the Delaware Basin. The company’s assets are located in Reeves, Ward, Loving, Winkler, and Pecos counties and include approximately 800 miles of intrastate natural gas and crude oil gathering pipelines, a natural gas processing complex with 460 MMcf/d of processing capacity and approximately 75,000 barrels of crude oil storage. Brazos serves leading major and independent oil and gas producers, which together have made long-term dedications for over 500,000 acres. For more information about Brazos Midstream, please visit https://brazosmidstream.com/.
Lauren Kaufman
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SEOUL, South Korea--(BUSINESS WIRE)--#AirCleanUnits--In line with the Korean government’s ‘Green New Deal’ policy announced on the 7th, KCC Co., Ltd. will embark on implementing an aggressive business strategy to dominate the market by supplying key parts for renewable energy and electric vehicles.
KCC’s B10 Series from the secondary battery production line, a core of electric vehicles, is an essence of state-of-the-art technologies developed to meet the market demand. KCC’s Pneumatic/hydraulic cylinders, grippers, air clean units, and vacuum ejectors, etc. are the parts used in the manufacturing of secondary batteries.
KCC’s key products are pneumatic/hydraulic parts including pneumatic/hydraulic cylinders used for transportation system and pneumatic solenoid, which regulates battery operation through control of the air.
The company has been supplying the products to a wide range of facilities, such as Seoul subway lines, semiconductor factories, and automotive and steel factories. This is a result of KCC investing 10–15% of its sales to R&D to achieve quality improvement of automation parts and localization of imported parts. KCC is also performing as a pioneer in the global precision processing market by exporting hydraulic cylinders and valves for subway trains to Japan.
Established in 1992, KCC began supplying overhaul materials to Yeongheung Power Division Units 3 in 2011. It then exhibited products at the power generation industry hall of Seoul International Electric Fair in 2013 and implemented the Management Supporters project and the KOEN World Class–30 project in 2014 and 2017 respectively. KCC is also participating in a project promoted by Korea South–East Power. Recently, KCC has won recognition for its technological power by being selected for the Hi Seoul, the Excellent Company Brand of Seoul certified by the Seoul Metropolitan Government and Seoul Business Agency, and as the Global Small Giant for 2020, and winning the SMEs and Startups Minister’s Award, the Trade, Industry, and Energy Minister’s Award at the Korea Precision Industry Technology Awards, and the Citation of the Chairman of Korea Packaging Machinery Association.
Dukgyu Park, CEO of KCC said, “We are seeking ways to give back to society while promoting our growth.” KCC provides educational content related to hydraulic technology through a YouTube channel, and employees are interacting with society through hosting annual charity events by inviting people with severe disabilities.
KCC Co., Ltd.
Hyojin Kim
+82-70-4224-9862
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LONDON--(BUSINESS WIRE)--#australia--The Fuel Oil Utilities market will register an incremental spend of about $123 billion, growing at a CAGR of 3.85% during the five-year forecast period. A targeted strategic approach to Fuel Oil Utilities sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
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SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Fuel Oil Utilities market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Insights into buyer strategies and tactical negotiation levers:
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for Fuel Oil Utilities market. The report also aids buyers with relevant Fuel Oil Utilities pricing levels, pros and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfill their category objectives.
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This Fuel Oil Utilities procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
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SpendEdge
Anirban Choudhury
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Proprietary Automated Sensor Manufacturing (ASM) System Allows Company to Expand Manufacturing Capacity at Valencia Production Facility
VALENCIA, Calif.--(BUSINESS WIRE)--#h2scan--H2scan, a leading provider of proven, proprietary hydrogen sensors and technologies for utilities and industrial markets, announced today its new proprietary automated sensor manufacturing (ASM) capability, a cutting-edge system that combines hardware and custom-built software to automatically track, calibrate and analyze H2scan sensors throughout the production process.
The automated calibration system reduces the days needed for sensor calibration to less than a third of what was previously required, which has a significant impact on product delivery times and overall manufacturing efficiency.
ASM allows H2scan to collect data that was previously difficult to track, that will allow the company to detect, diagnose, troubleshoot and improve testing conditions from environment and sensor design, and even automatically fine tune the analysis algorithms in the future.
“The ASM technology is augmenting a highly manual calibration and testing process, reducing the amount of manual labor and time required to ensure conditions are properly and consistently prepared and on time,” said Dennis Reid, President, CEO and Founder of H2scan. “ASM eliminates 90 percent of the manual labor associated with producing our sensors, delivering predictable, consistent results with minimal technician or engineering involvement.”
ASM controls every aspect of sensor tracking and testing throughout the calibration process which previously took up to 28 days per sensor. The ASM also enables control of the environment, by reading the environmental controllers and setting the conditions inside every testing chamber automatically. If needed, the system also features a configurable calibration schedule.
The system coordinates data collection both periodically and at the end of each test condition and analyzes collected data to determine sensor health and whether each sensor is within spec at the end of the process. ASM also allows calibration processes, or “recipes,” to be maintained outside of code and changed by engineering as necessary to respond quickly to hardware, firmware, or strategic changes.
H2scan worked with Altran, the global leader in engineering and R&D services and part of the Capgemini Group, to develop the customized system. The first version of the ASM system is in the final stages of acceptance testing. The core features will be validated in a final test by the end of September, with low rate initial production (LRIP) functionality being developed in parallel and currently slated for deployment by the end of October.
“H2scan’s Gen5 technology brings real-time hydrogen monitoring and high accuracy to distribution transformers and aligns well with Altran’s expertise in the digital transformation of the energy market,” said Dave Meyers, General Manager of Altran’s Innovative Product Development.“Altran and H2scan have a history of success and we are pleased to be a part of this exciting development to help the company ramp up production of the Gen5 technology and meet higher production demands.”
For more information, visit http://h2scan.com/.
About H2scan Corporation
H2scan was founded in 2002, and has its headquarters, sales, production and marketing staff in Valencia, California. The Company provides the most accurate, tolerant and affordable hydrogen leak detection and process gas monitoring solutions for industrial markets. H2scan enables the accurate monitoring and control functions for a wide range of applications, including control systems, safety monitoring and alarm systems. H2scan also provides portable, handheld configurations for easy leak detection and monitoring. H2scan supplies its hydrogen process analyzer and hydrogen leak detectors to utility, petrochemical, refinery, and gas line companies, nuclear power plants, fuel cell, petroleum and other industrial organizations through distribution, or long- term supply agreements. H2scan helps its customers meet safety, regulatory and process control requirements while doing critical hydrogen monitoring. H2scan’s customer base includes some of the largest manufacturing enterprises in the world including: General Electric, DOD, ABB, Siemens, ExxonMobil, Shell, Chevron, NASA, Proctor & Gamble and more.
H2scan now holds 27 patents on its core technology, software and electronics and its products are sold in over 50 countries worldwide. For more information, please visit http://www.h2scan.com.
David Rodewald/Amber Rubin
The David James Agency LLC
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805-494-9508
EXTON, Pa.--(BUSINESS WIRE)--Bentley Systems, Incorporated (“Bentley”) today announced the launch of the initial public offering of 10,750,000 shares of its Class B common stock. The shares of Class B common stock to be sold in the offering will be sold by existing stockholders of Bentley. The selling stockholders expect to grant the underwriters in the offering a 30-day option to purchase up to an additional 1,610,991 shares of Class B common stock from the selling stockholders. The estimated initial public offering price is between $17.00 and $19.00 per share. Bentley has applied to list its shares on the NASDAQ Global Select Market under the symbol “BSY”.
Goldman Sachs & Co. LLC and BofA Securities are acting as lead book-running managers and RBC Capital Markets is acting as a book-running manager for the proposed offering. Baird, KeyBanc Capital Markets and Mizuho Securities are acting as co-managers for the proposed offering.
A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department at 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it., or BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include any statements regarding the commencement of trading of Bentley’s Class B common stock on the Nasdaq Global Select Market. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under “Risk Factors” under Bentley’s registration statement relating to the offering. Except as required by law, Bentley has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.
Media:
James McCusker
203-585-4750
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Company now delivering Energy Storage System (ESS) through authorized installers
LINDON, Utah--(BUSINESS WIRE)--#FEMA--Humless today announced availability of its new GO 200 battery backup system for preppers during National Preparedness Month. In addition, the company continues delivery of its whole house 10/4 Energy Storage System, created and distributed in conjunction with FIMER (ABB). Both products offer homeowners power protection in uncertain times.
“Recent power outages caused by high winds in Utah, hurricane Laura in Louisiana/Texas, and rolling blackouts throughout California all demonstrate that electricity is not guaranteed, even in the U.S.,” states Glenn Jakins, CEO of Humless. “More ‘prepper’ conscious consumers see the value of securing their electrical needs to gain freedom from the grid in times of emergency.”
At 10" x 7.72" x 2.56", The Humless GO 200 is a small backpack sized system that’s ready for solar charging or from a wall outlet. This versatile six-pound power dynamo is perfect for camping or for quickly packing in a car. Mobile phone and electronic devices can now go anywhere with extended range from a recharging source.
The Humless Universal 10/4 Energy Storage System is a whole house solution for power peace of mind. This unit is perfect for small homes and essential loads. This home solar battery system features 10 kWh’s of lithium (LiFePO4) battery storage, 3.4 kW (4 kVa) premium inverter, remote monitoring, and is stackable up to 2 units. This system is an excellent power backup for home vital loads like lights, freezer, refrigerator, and computers. You can install the 10/4 without solar panels and it is compatible with any existing solar array. Now, you can truly be prepped for grid independence.
“The current pandemic driven teleworking trend further reinforces the need for reliable power for home office equipment,” says Jakins. “We can no longer be without power for long, especially at home.”
Humless Universal technology is first to combine simultaneous AC and DC Coupling, Multi-level Reticulation, Load Shifting, Power Shaving, and a Charge Controller into a single box. This provides intelligent energy management for customers’ power needs, lowers electrical costs and extends battery life.
About Humless
Humless is fueling the evolution of home and commercial power management, and the way contractors offer it. With Humless Universal Energy Management (UEM) installers can connect any brand of panels, inverters, and batteries into one seamless, scalable system. We apply commercial micro-grid thinking for the residential market, as well as for commercial customers seeking systems for securing the most cost-effective flow of electricity – on or off-grid.
Media Relations
John Pilmer
PilmerPR, a Benefit LLC
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801-369-7535
NEW YORK--(BUSINESS WIRE)--Tortoise Acquisition Corp. II (the “Company”) today announced the closing of its initial public offering (“IPO”) of 34,500,000 units at a price of $10.00 per unit. This includes the exercise in full by the underwriters of their option to purchase up to an additional 4,500,000 units. The units are listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “SNPR.U.” Each unit consists of one of the Company’s Class A ordinary shares and one-fourth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one of the Company’s Class A ordinary shares at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, which is expected to be on the 52nd day following the date of the final prospectus relating to the offering, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “SNPR” and “SNPR WS,” respectively.
Barclays and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering. AmeriVet Securities, Inc. acted as co-manager for the offering.
The public offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: This email address is being protected from spambots. You need JavaScript enabled to view it., tel: (888) 603-5847; and Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, email: This email address is being protected from spambots. You need JavaScript enabled to view it., tel: (866) 471-2526.
Registration statements relating to these securities have been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 10, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT TORTOISE ACQUISITION CORP. II
Tortoise Acquisition Corp. II was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination. The Company intends to focus its search for a target business in the broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.
FORWARD LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Tortoise Acquisition Corp. II
Vincent T. Cubbage
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New Action Follows District Court Lawsuit Filed In March
FREMONT, Calif.--(BUSINESS WIRE)--On the heels of its lawsuit filed in March against Canadian Solar Inc. (CSIQ) in the U.S. District Court for the Northern District of California, Solaria Corporation, a U.S. company based in Fremont, California, today announced it filed additional claims against Canadian Solar with the International Trade Commission (ITC).
“Solaria has over 250 patents and has invested more than $200 million in developing our advanced solar panel technology,” said Solaria Founder and Director Suvi Sharma. “Despite our pending District Court case, Canadian Solar continues to willfully misappropriate Solaria’s intellectual property. It’s unfair that an infringing company can swoop in, as Canadian Solar has done here, use our patented inventions, and threaten American jobs. We filed the ITC complaint because Canadian Solar deems itself above the law, and its anti-competitive behavior must be remedied.”
According to Solaria’s complaint, Canadian Solar’s “HiDM” shingled modules infringe Solaria’s U.S. patents that cover tiled or so-called “shingled” solar modules, as well as Solaria’s patented process for separating photovoltaic (PV) strips from solar cells for use in such modules. Solaria asserts that it introduced its high-efficiency, high-density module (HDM) technology to Canadian Solar when representatives of Canadian Solar evaluated Solaria’s next generation shingling technology for a potential licensing deal. Shortly thereafter, Canadian Solar launched its HiDM shingled modules and began advertising and selling them in the United States. Solaria is seeking an exclusion order that would prevent Canadian Solar from importing infringing products into the U.S.
T.J. Rodgers, a member of Solaria’s Board of Directors, said “As a founder and 34-year CEO of Cypress Semiconductor, I have been through dozens of legal actions against big companies who think they can take what they want. I am now actively involved in Solaria’s suit against Canadian Solar in the ITC – the American institution that levels the playing field for an emerging company like Solaria.”
“Solaria has spent years researching and developing our technology,” explained Solaria CEO Tony Alvarez. “Numerous companies in the industry, including ones from China, have recognized the value of Solaria’s IP by licensing Solaria’s technology. To protect ourselves and our valued partners, Solaria will actively defend our IP against any infringers.”
The ITC is expected to review the matter and begin an investigation within 30 days. If the ITC’s investigation finds that the accused Canadian Solar products infringe Solaria’s patents, it will issue an exclusion order, which will prevent Canadian Solar from importing and selling shingled modules in the U.S. and from installing or servicing the infringing imported shingled modules.
Solaria's District Court complaint filed on March 31, 2020, can be read here.
Solaria's amended District Court complaint filed on June 3, 2020, can be read here.
Solaria's ITC complaint filed on September 15, 2020, can be read here.
About Solaria:
Solaria Corporation is a U.S.-based solar PV technology and systems company, with a strong track record and 20-year history in solar power innovation and product development. Solaria is paving the way for distributed, clean power generation by building advanced solar panels and fully integrated systems. Using advanced patented technology, proven field performance, and sophisticated automation, Solaria delivers solutions that address a unique set of requirements for residential and commercial solar markets. Solaria headquarters are in California, USA. For more information, please visit www.solaria.com.
Susan DeVico
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+1 (415) 235-8758
Jordan T. Jones, Chief Counsel
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SAN FRANCISCO--(BUSINESS WIRE)--The magnitude of California’s 2020 wildfire season is hard to comprehend. To date, CAL FIRE reports that more than 7,600 fires have scorched approximately 3.2 million acres this year in the Golden State – an area almost the size of Connecticut. And five 2020 fires – the August Complex, the SCU Lightning Complex, the LNU Lightning Complex, the North Complex and the Creek Fire – already ranked among the 15 largest in state history.
With that as a backdrop, and as thousands of firefighters and other first responders continue to work to protect people and property, Pacific Gas and Electric Company (PG&E) reminds its customers that the best time to prepare for an emergency or natural disaster is before it happens. That’s what National Preparedness Month is all about.
Start by gathering supplies and creating an emergency kit that will last for several days after a disaster for everyone living in your home. Be sure to include flashlights, fresh batteries, first aid supplies and cash. Customers can get updates on outages in their neighborhood using PG&E’s outage information line at 1-800-743-5002 and PG&E’s Electric Outage Map online at pge.com.
If you already have a kit, make sure it’s up to date. Don’t forget to pack a “go bag” in case you need to evacuate quickly, considering the unique needs of everyone in your family, including elderly, younger children and pets.
Emergency Preparation Tips
Electric Safety Tips
If your vehicle comes in contact with a downed power line:
If there is a fire and you have to exit a vehicle that has come in contact with downed power lines:
Gas Safety Tips
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
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415-973-5930
Report announces company’s deepened global commitments to responsible ingredient sourcing, renewable energy, and renewed packaging standards
PITTSBURGH & CHICAGO--(BUSINESS WIRE)--In support of its commitment to sustainable practices, The Kraft Heinz Company (Nasdaq: KHC) has released its second-ever Environmental Social Governance (ESG) Report. It reveals that through integrated initiatives, Kraft Heinz is taking a cross-functional approach centered around continuous improvement across the organization, from responsible ingredient sourcing to expanded nutrition guidelines. ESG is integrated into every part of the business, guided by the company’s redefined Values and fulfilling its Vision "To sustainably grow by delighting more consumers globally.”
“At Kraft Heinz, we’re constantly re-evaluating our practices to ensure we’re being a responsible global company, as well as global citizens with a duty to bring our company and products to consumers in a healthy, sustainable way,” said Miguel Patricio, Chief Executive Officer at Kraft Heinz. “This new ESG strategy reflects a new company Value: We do the right thing. We’re actively working each day to create a company and products we and the world can be proud of.”
The Kraft Heinz ESG strategy prioritizes the issues that matter most to the company’s business and stakeholders – and focuses on the areas where it can have the greatest impact. It includes three key pillars:
In the report, Kraft Heinz also introduces new, global goals within its Environmental Stewardship and Responsible Sourcing pillars. The company plans to sustainably source 100 percent of Heinz Ketchup tomatoes by 2025 globally, in accordance with the company’s Sustainable Agriculture Practices. Kraft Heinz has taken significant steps to strengthen its supply chain by evolving those practices and working with growers to implement them with measured improvement. For instance, in Spain, tomato growers implemented new soil health procedures, ultimately yielding an improved 70 tons of tomatoes per acre annually.
Additionally, as the company assesses the greenhouse gas emissions of its entire supply chain in order to set reduction targets, it has committed to a goal of purchasing a majority renewable electricity across all Kraft Heinz facilities by 2025.
Additional highlights from the report include the company’s targeted achievement of the following goals by the year 2025:
Kraft Heinz’s complete 2020 ESG Report can be viewed here.
* majority of all Kraft Heinz facilities
** per cubic meter/metric ton production
ABOUT THE KRAFT HEINZ COMPANY
For 150 years, we have produced some of the world’s most beloved products at The Kraft Heinz Company (Nasdaq: KHC). We are one of the largest global food and beverage companies, with 2019 net sales of approximately $25 billion. Our portfolio is a diverse mix of iconic and emerging brands. As the guardians of these brands and the creators of innovative new products, we are dedicated to the sustainable health of our people and our planet. To learn more, visit www.kraftheinzcompany.com or follow us on LinkedIn and Twitter.
Michael Mullen (media)
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Christopher Jakubik, CFA (investors)
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HOUSTON--(BUSINESS WIRE)--#energy--Momentum Minerals, LLC (“Momentum” or the “Company”), a premier mineral and royalty acquisition fund, today announced the recent close of an additional equity commitment from funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its subsidiaries, "Apollo"). This marks the latest equity commitment in Momentum management’s long-standing relationship with Apollo and its affiliates that started in 2013.
Kevin Lorenzen, Co-CEO of Momentum, said, “We are excited to continue our strategic relationship with Apollo and believe we are well positioned to accelerate the growth of our minerals and royalties portfolio. We are actively evaluating new acquisition opportunities in the current market.”
James Elder, Co-CEO of Momentum, added, “Working with Apollo, we are poised to maintain our competitive presence in the minerals marketplace and enhance our capability to invest in deals across the value spectrum.”
Momentum will use the new commitment to support the Company’s ongoing mineral and royalty acquisition initiatives throughout the United States, capitalizing on current market opportunities.
Christine Hommes, Partner at Apollo, said, “We are thrilled to continue working with Kevin, James and the Momentum team. Momentum has demonstrated an exceptional ability to identify, source, acquire and manage mineral assets capable of generating attractive returns.”
About Momentum
Momentum is a premier mineral and royalty acquisition fund headquartered in Houston, Texas. Momentum acquires royalties, mineral rights, and overriding royalties across the United States.
Website: https://www.momentumminerals.com/
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Tiffany McCleary
Momentum Minerals
713-633-4900
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