Offshore Exploration Demand Builds Amid Global Focus on Energy Resources
HOUSTON--(BUSINESS WIRE)--#energyexploration--Geospace Technologies Corporation (NASDAQ: GEOS) today announced a $4M rental contract with an international marine geophysical services provider who will rent OBX-750E seabed ocean bottom wireless seismic data acquisition nodes for a shallow offshore seismic survey.
“During our recent exhibition at the European Association of Geoscientists and Engineers in Madrid, we experienced a significant increase in discussions surrounding the use of our wireless ocean bottom node products for both deep and shallow water applications,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “This follows the announcements in our prior quarter of OBX related commerce that included a $10M sale and $7M in rental contracts. This contract provides further evidence of increased activity in offshore markets where our versatile ocean bottom node products can provide the high-quality data needed to reliably make critical exploration decisions.”
Geospace principally designs and manufactures seismic instruments and equipment. The company markets seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. The company also markets seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. Geospace designs and manufactures other products of a non-seismic nature, including smart water connectivity tools, imaging equipment and specialty contract manufactured products.
Media Contact: Caroline Kempf, This email address is being protected from spambots. You need JavaScript enabled to view it., 321.341.9305
HOUSTON--(BUSINESS WIRE)--#Crudeoil--RBN Energy, LLC (“RBN”), a leading energy market consultancy and analytics company, today announced the appointment of John R. Auers as Managing Director of the company’s new Refined Fuels Analytics (“RBN-RFA”) Team. Responsible for management of the RBN-RFA organization, John leads the company’s refinery and refined products consulting, strategic advisory, transaction due diligence, dispute resolution, litigation support, and regulatory strategy services.
“John is one of the most authoritative and best-known refinery experts in the country and is an accomplished leader in the refining industry,” said Rusty Braziel, Chairman, RBN Energy. “Given the critical roles of refining, refinery utilization, and petroleum products in today’s global economy, we are very pleased that John has accepted this challenge and has joined the RBN team as Managing Director of RBN-RFA.”
“I am very excited to be joining RBN’s leadership team as we build out our consulting practice and create new products for oil and gas producers, midstream companies, energy marketers, petchems, energy investors, and, of course, refiners,” John said. “Our mission is all about making refining information and data concise and clearly understandable. Getting to what really matters based on a deep understanding of the technologies and operational details, without dragging our clients through an unnecessary morass of tortuous minutiae. We want our work to make intuitive sense to everyone with an interest in these markets and provide the confidence that our analysis and conclusions are anchored in a rock-solid understanding of how refineries and refined fuels markets work in the real world,” he added.
John joins RBN after over three decades of executive leadership experience at Turner, Mason & Company, where he was executive vice president and responsible for TM&C’s subscription products and consulting assignments in the areas of refining economics and planning, LP modeling, downstream asset valuation, crude oil valuation and capital investment, and strategic planning. He holds a B.S in chemical engineering from the University of Nebraska and an MBA from the University of Houston-Clear Lake. He is a licensed professional engineer in Texas and Nebraska and a member of Texas Society of Professional Engineers and the American Institute of Chemical Engineers.
About RBN Energy
RBN Energy is a leading energy market consultancy and analytics company based in Houston, Texas. The company provides a broad range of consulting services and information products concerning natural gas, natural gas liquids, crude oil, and renewable energy sources. Our mission is to make sense out of the complex and sometimes quite opaque energy markets to create a deep understanding for our clients. To learn more about RBN Energy, please visit www.rbnenergy.com.
TJ Braziel
This email address is being protected from spambots. You need JavaScript enabled to view it.
(888) 613-8874
145-MW facility to supply affordable, clean energy to Guzman Energy customers
LRE total generation capacity across Weld County reaches over 600 MW
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy, LLC (LRE) today announced that it has completed construction of its Panorama Wind Farm located in Weld County, Colorado and that the facility has reached commercial operation. The energy generated will provide Guzman Energy customers with enough renewable energy to power approximately 53,000 homes across Colorado and New Mexico.
LRE and Guzman Energy hosted a ceremonial ribbon cutting event at the Panorama Wind Farm today to celebrate the start of operations at the facility. The event featured comments from Chief Executive Officer of LRE, Jason Allen, and President of Guzman Energy, Christopher Miller, as well as Colorado State Senator, Chris Hansen, and Weld County Commission Chair, Scott James.
“With the Panorama Wind Farm online and generating cost effective, clean renewable power, we will continue accelerating the energy transition and economic opportunity for our current and future customers,” said Guzman Energy President, Christopher Miller. “As we serve rural electric cooperatives, municipalities, and tribes throughout the region, we appreciate LRE’s partnership and support. This is one of many new renewable assets that will exist because of Guzman’s role in the market.”
“We are pleased to have achieved commercial operations at the Panorama Wind Farm in partnership with Guzman Energy to help them deliver reliable renewable energy to their customers,” said Jason Allen, LRE’s Chief Executive Officer. “This project brings our total generation capacity in Weld County to over 600 MW, illustrating the momentum of our ambitious growth plan and continued commitment to developing, owning and operating best-in-class renewable generation assets. We are proud that our three Weld County projects — Panorama, Cedar Creek and Mountain Breeze — support the state of Colorado in meeting its goal of 100 percent green energy generation by 2040.”
The Panorama Wind Farm has 66 Vestas wind turbines with the capacity to generate 145 megawatts (MW) of clean energy. The project created 185 jobs during peak construction and will provide permanent renewable energy jobs and significant property tax contributions to Weld County. Construction and term financing for the project was secured from MUFG Bank, Ltd., National Australia Bank, Silicon Valley Bank, and Helaba Group, and tax equity was funded by Goldman Sachs.
John Wycherley, LRE’s Vice President of Development, added, “We are very appreciative of those landowners, Weld County officials and our financial and construction partners who have played a critical role in the success of the project. The completion of this project would not have been possible without their support, and we look forward to continuing these long-term relationships as we operate the facility going forward.”
About Leeward Renewable Energy
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 24 renewable energy facilities across nine states totaling approximately 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction spanning over 100 projects. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$121 billion in net assets (as at December 31, 2021). For more information, visit www.leewardenergy.com.
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies, and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Visit guzmanenergy.com.
For more information:
Kelly Kimberly
713.822.7538
Ryan McDougald
510.300.7204
Sard Verbinnen & Co.
This email address is being protected from spambots. You need JavaScript enabled to view it.
New transducer offers live sonar ranges up to 500’ in freshwater and up to 350’ in saltwater
OLATHE, Kan.--(BUSINESS WIRE)--Garmin International, Inc., a unit of Garmin Ltd. (NYSE:GRMN), the world’s largest1 and most innovative marine electronics manufacturer, today unveiled LiveScope™ XR , the latest addition to its award-winning live-scanning sonar lineup, now with an extended range for deeper and open waters. With excellent image sharpness at both close and long ranges simultaneously, LiveScope XR delivers real-time images of fish and structure up to 500’ in front of or below the boat—over 200% more range than the leading competitor system.
Explore deeper waters with LiveScope XR in action.
“You’ve never seen real-time images of fish and structure at distances and depths like this,” said Dan Bartel, Garmin vice president of global consumer sales. “LiveScope XR offers significant range performance without sacrificing image clarity and resolution. Having set the standard for live-scanning sonar, we’re thrilled to continue to bring this game-changing technology to deeper waters so even more anglers can experience the LiveScope difference.”
See more with an extended range
With an optimized design for deeper water, the LiveScope XR transducer has extended elements so anglers can see both long- and close-range views in real time. Anglers can see further around and below the boat – up to 500’ in freshwater and 350’ in saltwater – and the Reverse Range feature allows them to utilize more of the screen to display fish and structure. To see detail closer to the boat, the Compress Range feature displays a live look in sharp detail up close, while still allowing the angler to keep an eye on targets further away at the same time.
With seven color palettes to choose from, anglers can see fish and structure in vivid contrast and clarity. Like all LiveScope transducers, LiveScope XR is equipped with additional sensors that allow it to constantly adjust the sonar beams to compensate for boat motion, so even in rough conditions, anglers will still see a steady sonar image, even at an extended range.
Three modes in one system
The LiveScope XR System delivers three unique vantage points with one mount that can be easily adjusted to fit an angler’s fishing techniques and preferences, no tools required. Simply turn the transducer forward for a live look at what’s out in front of the boat; point it down to see directly beneath the boat; or turn it sideways with the included Perspective Mode Mount to enable the ‘top down’ perspective mode that’s perfect for scouting open water or shorelines. Select the LiveScope mode that best fits that fishing spot, and the view will automatically change on a compatible Garmin chartplotter2 screen.
Upgrade to the LiveScope XR advantage
The LiveScope XR System includes a compact GLS™ 10 black box with a LiveScope XR LVS62 transducer, along with a trolling motor barrel and shaft mounting kit, perspective mount bracket and a simple plug-and-play Garmin Marine Network connector for easy installation and integration with a compatible chartplotter. With a free software update, the LVS62 transducer (sold separately) can be added to an existing LiveScope System black box for customers who want to upgrade.
Both the LiveScope XR System and the LiveScope XR LVS62 are available now, with suggested retail prices of $2999.99 and $2499.99, respectively. LiveScope XR is compatible with a wide range of Garmin GPSMAP® and ECHOMAP™ chartplotters and combo units; click here for the full list of compatible devices.
Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most innovative, highest quality, and easiest to use marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the seventh consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Fusion® and Navionics®. For more information, visit Garmin's virtual Newsroom, This email address is being protected from spambots. You need JavaScript enabled to view it., connect with @garminfishhunt on social media, or follow our adventures at garmin.com/blog.
1 Based on 2021 reported sales
2 Compatible with GPSMAP 8400/GPSMAP 8600 chartplotter series, GPSMAP x2 Plus, GPSMAP x3, ECHOMAP Ultra combos and ECHOMAP UHD 7” and 9” units
About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, Navionics and Fusion are registered trademarks and LiveScope, GLS and ECHOMAP are trademarks of Garmin Ltd. or its subsidiaries.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 25, 2021, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Carly Hysell
913-397-8200
This email address is being protected from spambots. You need JavaScript enabled to view it.
AUSTIN, Texas--(BUSINESS WIRE)--#carbonreduction--Forward-thinking companies are quickly making plans to comply with disclosure requirements outlined in the Securities and Exchange Commission’s (SEC) climate proposal. To simplify the challenge, CLEAResult—the leading energy efficiency, energy transition and decarbonization solutions provider in North America—is introducing a new product to manage the process. CLEAResult ATLASTM Carbon helps companies measure, track and report their greenhouse gas emissions (GHGs).
“The fun part is the visualization of the data. You can filter and analyze data based on the needs of your team and stakeholders to tell a compelling, accurate and measurable carbon reduction story.” said Divakar Jandhyala, CLEAResult’s Chief Product and Technology Officer.
This innovative software expedites carbon tracking and provides custom reports that are fully compliant with industry standards. Businesses can view their GHG measurements and trends on a personalized dashboard using specific criteria like location, department, facility, and source of emissions. Reports can be customized for a variety of purposes, including external documents compliant with the proposed SEC requirements and GHG Protocol.
“This system was created in response to the expressed needs of our clients,” noted Rob Beckwith, VP of Carbon Consulting Business Development. “Accurately measuring their carbon footprint gives them a reliable and reportable baseline that’s essential to any type of carbon reduction plan.”
CLEAResult ATLASTM Carbon syncs with other accounting software so that data is updated automatically, saving time and reducing the likelihood of human error. The product tracks an organization’s carbon reduction and displays their information in a personalized dashboard.
“Our new product provides accurate, up-to-date and easily accessible information about an organization’s greenhouse gas emissions. This data is increasingly valuable for businesses looking to make sustainable decisions, regardless of future changes to reporting requirements,” added Jandhyala.
More information about CLEAResult ATLASTM Carbon is available on the company’s technology page. Their carbon consulting team is also offering no-cost consultations and product demonstrations for organizations of all sizes. To schedule, email Rob Beckwith at This email address is being protected from spambots. You need JavaScript enabled to view it..
About CLEAResult
CLEAResult is the largest provider of energy efficiency, energy transition and decarbonization solutions in North America. Since 2003, our mission has been to change the way people use energy. Today, our experts lead the transition to a sustainable, equitable, and carbon-neutral future for our communities and our planet. Our hometown teams collaborate with a diverse network of local partners to deliver world-class technology and personalized services that make it easy for commercial and industrial businesses, governments, utilities, and residential customers to reduce their energy use and carbon footprint. CLEAResult is headquartered in Austin, Texas, and has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult is majority owned by TPG through its middle market and growth equity investment platform TPG Growth and its multi-sector global impact investing strategy The Rise Fund.
Explore all our energy solutions at clearesult.com.
Follow us on: Facebook | LinkedIn | Twitter | Instagram
This email address is being protected from spambots. You need JavaScript enabled to view it.
Amber Tester
Director Corporate Communications
SAN JOSE, Calif.--(BUSINESS WIRE)--Impossible Mining's (YC W22) Renee Grogan, Chief Sustainability Officer, has this week signed the Seabed Mining Science Statement, which lists six main concerns with seabed mining shared by over 600 marine scientists. “While we maintain our position that the regulatory bodies will, and should, be responsible for the time frame and conditions for mining progressing, we support the notion in the Statement that 'sufficient and robust scientific information must be obtained to make informed decisions as to whether deep-sea mining can be authorized without significant damage to the marine environment and, if so, under what conditions.' However, any 'robust scientific information' must be based on a specific engineered solution."
Impossible Mining has begun collaboration with over a dozen marine scientists, many of whom have signed the Statement, to integrate the six objectives of the Statement into its engineered solution, and has today released the summary report of those discussions.
Dr. Erik Cordes of Temple University, a signatory to the Statement, indicated, “I have stayed out of the seabed mining discussion in the past, because I did not see a responsible path forward - prior to Impossible Mining. I encourage investigation of this innovative opportunity to minimize harm while helping provide the necessary elements for our transition to renewable energy.”
Impossible Mining is planning further collaboration with scientists later this year, and to conduct proof of concept testing in 2023, aiming to demonstrate that its engineered solution can mitigate the six concerns in the Statement. “We are laying down the gauntlet,” says Renee Grogan. “If critical metals for the green economy are to be sourced from the seabed, let’s be guided by the 600+ scientists whose expectations align with those regulators that enforce the principles of ecologically sustainable development.”
Expert deep-sea scientists who are interested in contributing to scientific studies relating to selective harvesting of nodules are encouraged to contact Impossible Mining via https://impossiblemining.com/contact.
PR Contact
MARCO LARSEN
M: 646.812.4444
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--The board of directors of Phillips 66 (NYSE: PSX) has appointed Mark E. Lashier and Gregory J. Hayes to serve on the board, effective July 12, 2022. Following the appointments, the board of Phillips 66 will consist of 13 directors, 11 of whom are independent.
Lashier, who will serve on the Executive Committee of the board, was recently named as the Chief Executive Officer of Phillips 66 after serving as President and Chief Operating Officer since April 2021. Lashier, who has over 30 years of energy industry experience, served as CEO of ChevronPhillips Chemical Company LLC (“CPChem”) from August 2017 to April 2021. He joined the global petrochemical joint venture, in which Phillips 66 owns a 50% interest, when it was formed in 2000. At CPChem he served as Executive Vice President of Olefins and Polyolefins; Senior Vice President of Specialties, Aromatics and Styrenics; Vice President of Corporate Planning and Development; and Regional Manager of Asia. He began his career with Phillips Petroleum Company as a research engineer.
Hayes qualifies as an independent director and will serve on the Nominating and Governance Committee, Human Resources and Compensation Committee, and the Public Policy and Sustainability Committee of the Phillips 66 board. Hayes is the Chairman and Chief Executive Officer of Raytheon Technologies Corporation (“Raytheon”), a position he has held since June 2021. Hayes previously served as President, Chief Executive Officer and Director of Raytheon from April 2020 to June 2021; Chairman and Chief Executive Officer of United Technologies Corporation (“UTC”) from 2016 to April 2020; President, Chief Executive Officer and Director of UTC from 2014 to 2016; Senior Vice President and Chief Financial Officer of UTC from 2008 to 2014; and in various senior positions since joining UTC in 1999 through the acquisition of Sundstrand Corporation, including Vice President, Accounting and Finance, and responsibility for UTC’s Corporate Strategy function. Hayes previously served on the board of Nucor Corporation from 2014 to 2018.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
Jeff Dietert (investors)
832-765-2297
This email address is being protected from spambots. You need JavaScript enabled to view it.
Shannon Holy (investors)
832-765-2297
This email address is being protected from spambots. You need JavaScript enabled to view it.
Thaddeus Herrick (media)
855-841-2368
This email address is being protected from spambots. You need JavaScript enabled to view it.
Company to Ring Closing Bell on July 12, 2022
WALL, N.J.--(BUSINESS WIRE)--Celebrating the 40th anniversary of its listing on the New York Stock Exchange (NYSE), New Jersey Resources (NYSE: NJR) President and CEO Steve Westhoven, together with members of the company’s board of directors, will mark the milestone by ringing The Closing BellSM.
“New Jersey Resources is a premier energy infrastructure company that is leading the way to a decarbonized energy future,” said Steve Westhoven, president and CEO of New Jersey Resources. “To be listed as a publicly traded company on the world’s largest stock exchange for 40 years is an honor and an accomplishment that reflects the talent of our team, the strength of our businesses and the confidence of our shareowners.”
Since it was first listed on the NYSE, NJR has grown considerably. The company’s market capitalization in 1982 was approximately $43 million and the company stock’s closing price on the first day of trading was $1.47, adjusted for splits. Today, it is valued at a market capitalization of $4.2 billion with a closing price of $43.70 as of July 8, 2022.
The value of $1,000 invested 40 years ago, assuming dividends were reinvested, would be over $203,500 as of today, or an average annual return of approximately 14.2%. NJR has paid quarterly dividends since its inception in 1952 and has increased its dividend in each of the last 26 years.
New Jersey Natural Gas (NJNG), NJR’s principal subsidiary, is also celebrating its 70th anniversary this year. With the purchase of Jersey Central Power and Light’s natural gas division by County Gas Company in 1952, NJNG was born. At the time, the company served approximately 90,000 customers. Today, it serves more than 568,000 customers.
A live webcast of The Closing Bell (at 4 p.m. EST) will be available on the NYSE website at www.nyse.com/bell. Videos and photos during and following the ceremony will be shared on NYSE's Facebook pages, LinkedIn, and on Twitter @NYSE.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook/NewJerseyNaturalGas.
Media:
Michael Kinney
732-938-1031
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Adam Prior
732-938-1145
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of 97 cents per share on Phillips 66 common stock. The dividend is payable on Sept. 1, 2022, to shareholders of record as of the close of business on Aug. 18, 2022.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
Jeff Dietert (investors)
832-765-2297
This email address is being protected from spambots. You need JavaScript enabled to view it.
Shannon Holy (investors)
832-765-2297
This email address is being protected from spambots. You need JavaScript enabled to view it.
Thaddeus Herrick (media)
855-841-2368
This email address is being protected from spambots. You need JavaScript enabled to view it.
BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B) today announced that it has become a Member of the Ellen MacArthur Foundation’s Network to help accelerate the transition to a circular economy. The Network brings together businesses, innovators, universities, and thought leaders to drive global systemic change.
“We are pleased to join a committed group of like-minded organizations focused on creating a circular economy,” said Julie K. Streich, Senior Vice President, Finance and Chief Financial Officer and Interim Chief Executive Officer of Barnes. “Joining the Ellen MacArthur Foundation’s Network is another important step in our environmental, social, and governance journey, allowing Barnes to work with other forward-thinking leaders to drive innovations that ultimately support our economy, climate, and society.”
Patrick Hurley, Senior Vice President and Chief Technology Officer of Barnes, stated, “the Ellen MacArthur Foundation is a great platform to further our efforts in developing innovative products and technologies to drive a circular economy. It aligns with our internal targets to reduce pollution and waste and will enable Barnes to collaborate with other leading companies with the same vision in joint research and development for social and environmental benefits.”
In 2020, Barnes established environmental targets for 2025 – specific goals for reducing the energy and water we use and the waste we generate against a 2019 baseline – on a normalized basis. As a Company, we will work to reduce the energy we use in our factories – as measured in carbon dioxide equivalents (CO2e) – by 15%, the amount of water we use by 20%, and the amount of industrial process waste we generate from our manufacturing operations by 15%.
Barnes is proud to be a key participant in the Digital Watermarks Initiative HolyGrail 2.0 driven by AIM – European Brands Association, powered by the Alliance to End Plastic Waste. HolyGrail is a collaborative effort designed to solve one of the most significant obstacles facing plastic recycling – inefficient sorting at recycling facilities. Our Molding Solutions strategic business unit has been active in this initiative since HolyGrail 2.0’s inception in 2020, under the leadership of The Procter & Gamble Company and facilitated by the Ellen MacArthur Foundation.
Molding Solutions continues to strengthen its partnerships to develop new manufacturing technologies with a sustainability focus in collaboration with leading consortiums such as The Alliance to End Plastic Waste and The Ellen MacArthur Foundation. It is also actively aligning its processing technology with leading producers of new sustainable plastic materials, such as post-consumer recyclable, bio-based, and even bio-degradable compositions, to produce products made of more sustainable materials that perform as well as or better than products made of current fossil-based polymers. Barnes has strategically partnered with global research centers, universities, product designers, and end-of-life converters to develop injection molding technology that minimizes waste and maximizes user performance, delivering safe and reliable solutions.
About Barnes
Barnes Group Inc. (NYSE: B) pioneers technologies to help change the world. Leveraging world-class manufacturing capabilities and market-leading engineering, we develop advanced processes, automation solutions and applied technologies for industries ranging from medical and personal care to mobility, packaging and aerospace. Customers benefit from our integrated hardware and software capabilities focused on improving the processing, control, service and sustainability of engineered plastics, factory automation technologies and precision components. For more information, please visit www.barnesgroupinc.com.
About Molding Solutions
Molding Solutions is a strategic business unit within Barnes, which includes leading plastic injection molding brands for tooling, hot runners, and controls: Synventive®, Thermoplay®, männer™, FOBOHA®, Priamus®, and Gammaflux®. Molding Solutions’ comprehensive portfolio of advanced technologies and value-added services delivers best-in-class solutions where demanding specifications are required by global customers across a broad spectrum of applications. For more information, please visit our Molding Solutions web page.
About The Ellen MacArthur Foundation
The Ellen MacArthur Foundation is an international charity that develops and promotes the circular economy in order to tackle some of the biggest challenges of our time, such as climate change, biodiversity loss, waste, and pollution. The Foundation works with its Network of private and public sector decision-makers, as well as academia, to build capacity, explore collaborative opportunities, and design and develop circular economy initiatives and solutions. Increasingly based on renewable energy, a circular economy is driven by design to eliminate waste, circulate products and materials, and regenerate nature, to create resilience and prosperity for business, the environment, and society. For more information, please visit https://ellenmacarthurfoundation.org/.
Category: General
Barnes Group Inc.
Morgan Ferrarotti
Director, Corporate Marketing and Communications
860.583.7070
BEAUFORT, S.C.--(BUSINESS WIRE)--OptiFuel Systems (“OptiFuel”), a decarbonization solutions provider of products and systems for eliminating emissions in the rail, marine, and power generation markets, has signed a Collaboration Agreement with the Argentina Ministry of Transportation through Ferrocarriles Argentinos Sociedad del Estado (F.A.S.E). The objective of this agreement is to develop a project to repower and put into service 400 switcher and line haul freight locomotives, all 100% powered by compressed natural gas (CNG) and/or renewable natural gas (RNG) with low or zero emissions, in line with the Argentina’s decarbonization goals.
“Our Transportation Modernization Plan is about developing more infrastructure throughout the country, and it is also about innovative technology - such as this change in the energy matrix of our trains, to make them cleaner, more efficient, sustainable and cheaper,” said Argentina Transport Minister Alexis Guerrera. Argentina has prioritized government and public investment to grow the share of freight shipped by rail throughout the country. Over the next ten years, Argentina plans to modernize and decarbonize their entire 40,000-mile rail network, becoming the first country in the world with a complete railroad network operating with ZERO emissions.
“OptiFuel is excited about the opportunity to provide zero emission locomotives, tenders, and refueling equipment to Argentina,” said Scott Myers, President of OptiFuel. “OptiFuel developed and certified these technologies for rail because we believe there is a need for cleaner locomotives that drive increasing value to the world’s railroads, railroad customers, and communities.” Traditional locomotives run on diesel fuel, emitting high levels of NOx, PM, and CO2. OptiFuel’s zero emission rail engine solutions are powered by their EPA certified locomotive CNG/RNG engine rated at 0.00 g/bhp-hr for NOx, 0.000 g/bhp-hr for PM, and Negative CO2 using RNG.
OptiFuel is developing modular repower kits1 for diesel locomotives and new locomotives in all lengths, horsepower levels, and track gauges. For Argentina, OptiFuel will build locomotive kits in the US that will be shipped for local assembly in Argentina, creating new jobs and enhancing business in both countries. These kits will include OptiFuel’s zero emission CNG/RNG engines pods in a hybrid configuration (1500hp - 4500hp); locomotive control modules; and onboard CNG/RNG storage pods that can carry up to 2,000 diesel gallon equivalents (DGEs) of natural gas. OptiFuel will also provide powered tender cars (3,000 hp) that can carry 11,500 DGEs of CNG/RNG and construct an estimated 12-15 CNG fuel stations along Argentina’s rail network, each with the capacity to refuel a tender car in less than an hour.
According to Scott Myers, OptiFuel’s success in rail is due to their systems’ approach in addressing the global emissions dilemma. “We didn’t look at one railroad or even one country,” said Myers. “We stepped back even further and asked: How can we affordably integrate new technology and required infrastructure into the world’s massive railroad networks in a way that is gradual, flexible, reliable, and affordable? The first challenge was incorporating modern technology without sacrificing reliability. The second challenge was engineering flexibility into the system – railroads had different performance needs and access to different sources of power. Then there was the challenge of new technology. The average locomotive operates for more than 40 years! If we were going to begin adding the latest technology, we had to do it in a way in which updates and upgrades could be made efficiently and cost effectively. This led us to OptiFuel’s modular, affordable designs.”
It is OptiFuel’s position that RNG and green hydrogen are the most feasible zero-emission solutions for switcher locomotives, with RNG leading from a cost and accessibility perspective. For line haul operations in the US, RNG is the only practical zero-emission diesel-alternative solution. The reason for this is that RNG requires 2.5 times the volume to store energy versus diesel, and hydrogen requires 11 times the volume, while lithium batteries require 50 to 75 times. This means that the average 150-car train would have to replace almost 50% of the cars with battery tenders. Batteries are poor energy storage solutions for heavy horsepower use, and they require frequent recharging with traditional electricity. The energy coming from the nation’s electric power grid still emits large amounts of criteria and GHG emissions. For this reason, replacing diesel locomotives with 100% battery-electric power would emit more CO2 into the atmosphere over a 10-year period than running 100% diesel over the same period. In addition, batteries start degrading the moment they are employed and are a very expensive storage solution with a short life. With the precarious availability of traditional grid power, and no commercial solutions for “end of life recycling or disposal” of large multi-megawatt battery packs, this creates a real problem for the total life cycle cost and sustainability goals for railroads.
1This material is based upon work supported by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) under the Vehicles Technology Office Award Number DE-EE0009215.
About OptiFuel Systems:
OptiFuel provides zero emissions products (NOx, PM, CO2) for decarbonizing rail, marine, microgrid and power generation applications with innovative, cost-efficient, and sustainable solutions utilizing advanced gaseous fuels, including both renewable natural gas and hydrogen. Recently, OptiFuel announced an expansion round of funding to further scale business operations and strategic opportunities rapidly developing across key markets.
Scott D. Myers, OptiFuel Systems LLC - (339) 222-7575, This email address is being protected from spambots. You need JavaScript enabled to view it.
The voluntary lock-up extension underscores the Company’s conviction in its long-term growth strategy and is in full alignment with investors and all stakeholders
The Board of Directors unanimously approved the amended voluntary share lock-up agreement and includes 100% participation from eligible senior officers
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the “Company”), a leader in sustainable, grid-scale energy storage solutions, today announced that management and senior officers of the Company entered into new time and performance based Lock-up Agreements (“Lock-up Extension”) extending the lock-up deadlines as defined by the original lock-up agreements entered into on February 11, 2022 in connection with the closing of Energy Vault’s Business Combination. When the Business Combination closed, 50% or more of shares underlying equity awards granted to certain senior officers of the Company vested on an accelerated basis. The Lock-up Extension represents approximately 6.7 million shares held by senior officers and the Chairman and Chief Executive Officer, which in total represent approximately 5% of the outstanding shares of the Company.
100% of Energy Vault’s senior officers, whose shares previously vested on an accelerated basis, elected to participate in the voluntary Lock-up Extension which results in senior officer participants subjecting 50% of their accelerated shares (approximately 1.8 million shares) to additional transfer restrictions. In addition, Robert Piconi, Chairman and Chief Executive Officer of Energy Vault agreed to a Lock-up Extension, subjecting 100% of his accelerated shares (approximately 4.9 million in total) to additional transfer restrictions that will expire in July 2025.
Under the Lock-up Extension, these transfer restrictions will be released to the extent that the subject shares would have vested over time. Additionally, shares can be released in equal one-third increments if Energy Vault’s stock trades above designated price thresholds ($15.00, $17.50 and $20.00 per share), for 20 trading days within a 30 trading day period.
“Today’s announcement demonstrates the confidence the entire management team and I have in our long-term growth strategy while further tightening the alignment of the Company with all of our investors and stakeholders,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “While we live in a world in which uncertainty abounds, one thing that we are completely certain about is the need to decarbonize our planet and at a speed much faster than previously thought to preserve a bright future for generations to come. This is our mission at Energy Vault and we remain focused on continuing to deliver on our commitments to our customers and shareholders.”
The Board of Directors unanimously approved the voluntary Lock-up Extension.
About Energy Vault
Energy Vault develops and deploys sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage in realizing decarbonization while maintaining grid resiliency. The company’s proprietary gravity-based energy storage technology and energy storage management and integration platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers. For additional information, please visit: www.energyvault.com.
Energy Vault
Investors
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media
This email address is being protected from spambots. You need JavaScript enabled to view it.
This newly launched collaboration between TenderEasy and Upply enhances functionalities of TenderEasy’s RFQ capabilities empowering professionals in their freight tendering process. The integration of Upply's price benchmark, based on 650 million transactional prices, provides TenderEasy customers with immediate knowledge of their price positioning in the market.
STOCKHOLM & PARIS--(BUSINESS WIRE)--TenderEasy, Alpega’s cloud-based freight procurement solution, is glad to announce its latest partnership with Upply, an AI-driven benchmarking provider offering road, sea and air freight data prices across the globe.
The partnership delivers live benchmarking data to TenderEasy’s users through full integration of Upply’s data into TenderEasy‘s platform, providing them with the necessary information to understand the current prices in the market, as well as their evolution over time. This gives the customer the possibility and the power to decide when a tender is competitive and what steps to take in the potential negotiation rounds with carriers.
“Partnerships and integrations like this one adds value to everyone planning or running a freight RFQ. In such a volatile market, we at TenderEasy want to ensure users have the latest insights to decide if, where and when to run a tender”, says Johan Vagerstam, co-founder of TenderEasy and Director Product Management at Alpega.
“Partnerships in the digital ecosystems are key to provide cutting-edge software and platforms. Even more in the transportation industries today where prices fluctuate on a weekly basis and capacities are difficult to find and secure. Our partnership with TenderEasy aims at sharing market data and making it available directly to supply chain experts in their procurement solutions for them to take the best decisions.” comments Thomas Larrieu, CEO at Upply.
Press :
Cathrin Rautenberg
Marketing Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
Four Projects in Ohio and Indiana Will Provide 48 MW of 24/7 Carbon-Free Energy
HOUSTON--(BUSINESS WIRE)--#energy--Tallgrass and Kanin Energy today announced a joint effort to develop four waste heat to power (WHP) clean energy projects. Once developed, the WHP projects will have an installed capacity of more than 48 MW of baseload, carbon-free energy. The projects are a part of Tallgrass’ ongoing efforts to lead in the energy transition.
Waste Heat to Power is a source of clean energy. WHP projects capture heat that is a byproduct from industrial processes and converts that waste heat into electricity, requiring no additional fuels.
All four WHP projects – three in Ohio and one in Indiana – are expected to start producing power in 2024. The projects are expected to generate approximately 410,000 MWh of electricity annually, the equivalent of providing decarbonized power to 38,000 households in the United States.
“Decarbonization is a priority for Tallgrass. We are working hard to identify opportunities to reduce emissions and promote clean power generation and that includes capturing and using heat that is currently wasted to generate electricity,” said Justin Campbell, Vice President – Power & Transmission for Tallgrass. “Kanin’s expertise in this space de-risks and expedites the implementation of this project, which allows us to indirectly offset nearly 250,000 tons of CO2 equivalent a year and provide carbon-free power to local communities where we operate. These are the types of decarbonization opportunities and new investments that we are looking at across our system.”
“We’re excited to be working with Tallgrass to develop these waste heat to power projects. We see 24/7 carbon-free energy as the next frontier of sustainability. We are focused on our proprietary waste heat to power projects because they provide baseload power from heat in industrial processes that would otherwise not be used and to create something valuable – clean energy. This is a great opportunity to help the industrial sector quickly meet their decarbonization goals,” said Janice Tran, CEO of Kanin Energy.
Headquartered in Houston, Texas and Calgary, Alberta, Kanin Energy is among the first companies to develop industrial waste heat to power projects with a technology agnostic approach in North America.
Kanin Energy brings together technology, engineering, and innovative waste heat to power project designs to generate baseload, emissions-free electricity for the grid or on-site use. WHP captures excess thermal energy and converts it into electricity. This is done using an Organic Rankine Cycle (ORC) closed-loop system that uses heat to drive a turbine and generate emission-free power.
Tallgrass owns and operates pipeline and energy infrastructure in 12 states across the country. Tallgrass has emphasized clean power and emissions reduction investments, and this agreement with Kanin Energy further demonstrates Tallgrass’ commitment to decarbonization and enhanced operational efficiency.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the successful development and execution of the referenced WHP clean energy projects; the stated installed capacity and expected power output of the projects; the timing of the completion of the projects; the expectation that these projects will achieve the stated carbon offset and power generation goals; and the expected benefits, economic or otherwise, of the proposed WHP clean energy projects to the local communities, Ohio, Indiana and the broader Midwest region. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Kanin Energy
Kanin Energy is a purpose-built, full turnkey developer that focuses on transforming industrial waste heat into emission-free power. Kanin provides a bundled solution to industrial facilities that include the design, construction, operations, and financing for waste heat to power and other decarbonization projects. Learn more at kaninenergy.com.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.
Kanin Energy Media Inquires
Savini Jayasinghe, 646-868-8078
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tallgrass Media and Trade Inquiries
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Biogas Market Size, Share & Trends Analysis Report By Source (Municipal, Agricultural, Industrial), By Application (Vehicle Fuel, Electricity, Heat, Upgraded Biogas, Cooking Gas), By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Biogas Market Growth & Trends
The global biogas market size is expected to reach USD 87.85 billion by 2030, according to a new report. The market is expected to expand at a CAGR of 4.3% from 2022 to 2030. Electricity was the dominant application segment in 2021 with a revenue share of 29.85%.
Shifting focus toward the use of renewable sources of energy, mainly in the electricity sector, has considerably boosted the demand for biogas in electricity applications. In addition, the growing need to reduce dependency on fossil fuels is forming lucrative prospects for biogas in applications such as vehicle fuel.
The growing trend of the circular economy, particularly in European countries, is shifting the focus of food and beverage industries towards proper management of food waste to attain a zero-waste economy. Therefore, companies such as Nestle S.A., PepsiCo, Inc., and Unilever plc have started directing some food waste to biogas production to generate power for manufacturing units.
The increasing adoption of biogas in Canada is a major growth driver for the growth of the market in North America. Biogas production is expected to increase to increasing demand for fuel with low emission of harmful gases and the need for a reduction in greenhouse gas emissions.
Manufacturers of biogas are adopting strategies, such as mergers and acquisitions, to increase their market share and production capacity in the region. South Africa is expected to provide ample opportunities for the market on account of ongoing concerns regarding GHG emission levels in the country. The country is focusing on developing biogas production to limit carbon emissions in the country.
Biogas Market Report Highlights
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Biogas Market Variables, Trends & Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.6. Business Environment Analysis: Biogas Market
3.6.1. Industry Analysis - Porter's
3.6.2. PESTEL Analysis
3.6.2.1. Political Landscape
3.6.2.2. Economic Landscape
3.6.2.3. Social Landscape
3.6.2.4. Technological Landscape
3.6.2.5. Environmental Landscape
3.6.2.6. Legal Landscape
3.7. Impact of Covid-19 on Biogas Market
Chapter 4. Biogas Market: Source Estimates & Trend Analysis
4.1. Source Movement Analysis & Market Share, 2021 & 2030
4.2. Municipal - (Landfill and Wastewater)
4.2.1. Agricultural Based Biogas Market Estimates and Forecasts, 2019 - 2030 (Usd Million)
4.3. Industrial - (Food Scrap and Wastewater)
4.3.1. Industrial Based Biogas Market Estimates and Forecasts, 2019 - 2030 (Usd Million)
4.4. Agriculture - (Dairy, Poultry, Swine Farm, and Agricultural Residue )
4.4.1. Industrial Based Biogas Market Estimates and Forecasts, 2019 - 2030 (Usd Million)
Chapter 5. Biogas Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2021 & 2030
5.2. Electricity
5.3. Heat
5.4. Vehicle Fuel
5.5. Upgraded Biogas
5.6. Cooking Gas
Chapter 6. Biogas Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Analysis
7.1. Key Global Players & Recent Developments & Their Impact on the Industry
7.2. Vendor Landscape
7.3. Company Market Position Analysis
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/kk8fwh
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced it will host Destination Innovation 2022, its second annual virtual expo, with three dates to maximize engagement with global attendees.
With this year’s theme of “Diversifying, Decarbonizing and Digitizing Flow Control,” the event will focus on how Flowserve is supporting its customers’ energy transition and sustainability goals through its Diversification, Decarbonization and Digitization strategy.
The main event will take place on Wednesday, July 27 at 11 a.m. to 3 p.m. EDT (10 a.m. to 2 p.m. CDT) with events targeted for the Asia Pacific region on Wednesday, August 17 and Europe on Wednesday, September 14.
The virtual expo will feature messages on different technologies such as liquefied natural gas (LNG), hydrogen, carbon capture and vacuum — which offer cleaner, more sustainable options for a low-carbon future. Also showcased will be RedRaven, Flowserve’s comprehensive internet of things (IoT) solution, which is digitizing flow control and helping customers avoid costly, unplanned downtime and equipment repairs.
Attendees can personalize their conference experience for the free, four-hour virtual event by selecting which featured talks, breakout sessions and discussions matter most to them. In addition to hearing how Flowserve products are addressing common application challenges, those in attendance will gain valuable knowledge from thought leaders within Flowserve and key partners, including:
- Gabriel Collins, Baker Botts Fellow in Energy & Environmental Regulatory Affairs at Rice University’s Baker Institute
- Stefan Irrgang, Global Process Owner – Integrity and Reliability, at Shell
- David Breaugh, Manufacturing Business Lead – Americas, at Microsoft
“Energy transition is more important now than perhaps ever before. It impacts the way we think about our future, as well as the markets and industries as we know them,” said Scott Rowe, Flowserve president and chief executive officer. “We are excited to connect with attendees of Destination Innovation 2022 to further expand on the ways we’re continuing to support our customers in reaching their carbon reduction and sustainability goals.”
This free event will have live talks and on-demand sessions that are accessible via desktop, mobile and tablet devices.
To register, go here. Each attendee must register separately using their own name and work email address to attend. On the registration page, attendees can choose which show they’d like to attend. For more information on the expo, visit https://www.flowserve.com/en/about-flowserve/events/conferences/destination-innovation-2022/
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (214) 697-8568
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
DUBLIN--(BUSINESS WIRE)--The "Submarine Optical Fiber Cables - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Submarine Optical Fiber Cables Market to Reach $30.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Submarine Optical Fiber Cables estimated at US$22 Billion in the year 2022, is projected to reach a revised size of US$30.8 Billion by 2026, growing at a CAGR of 14.3% over the analysis period. The market in the Americas is estimated at US$4.5 Billion. Transpacific is forecast to reach a projected market size of US$4.2 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Intra-Asia and Transatlantic, each forecast to grow at 10.5% and 17.8% respectively over the analysis period.
Submarine optical fiber cables dominate international voice and data traffic, due largely to the advantages offered in terms of high reliability, security and capacity, cost-effectiveness on major routes. The growing prominence of Cloud and Big Data also necessitates high degree of investments into data centers dispersed across the world.
For cloud and big data concepts to be realized, telecom sector requires strong connectivity between these data centers, thus further raising importance of submarine optical fiber cables. Growing demand for high speed Internet due to the increasing internet usage has led to a rapid surge in the demand for higher bandwidth globally. This growing demand for more bandwidth has been one of the major factors driving the growth of submarine fiber cable market.
Other factors that add to the market growth include large scale deployment of cables in oil and gas industry, increasing use of smart devices, and growing fiber connectivity in developing regions such as Asia and Africa. The growing number of private project developers has led to an increase in the optical cables` length that are being laid.
Growing efforts to improve the bandwidth enables several countries to raise their economic growth by developing submarine systems. The demand for higher bandwidth will pave way for new submarine fiber cable projects. The advanced technological improvements have reduced the manufacturing costs and the installation costs have increased. The costs involved in laying cables can be reduced if the cable laying vessels are embedded with advanced technologies that help in laying the cables correctly without errors.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/15i1tc
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
100% of Olympus’ YE21 operated assets certified as Responsibly Sourced Gas
PITTSBURGH--(BUSINESS WIRE)--Olympus Energy earned the highest possible environmental performance asset-level certifications relying on Project Canary's rigorous, independent environmental assessment process, the company announced today. Olympus’ ratings validate the company's best-in-class ESG performance, industry-leading low-methane emissions, community engagement, and freshwater programs.
"Every day, the Olympus team works to produce natural gas in the most efficient and environmentally responsible manner possible. This certification validates our commitment," Tim Dugan, President and CEO of Olympus Energy, said. "We're deeply proud of the results achieved by doing things the right way and continually seek innovative approaches to unlock even better ESG performance."
Project Canary's high-fidelity, rigorous 800+ data point analysis of existing well sites represents the industry's most comprehensive assessment program. Olympus' low-methane verified environmental attribute performance alongside key initiatives including upgrading local infrastructure voluntarily, holding transparent community dialogue, establishing and practicing an industry-leading emergency response program, water recycling initiatives, and building a wildlife habitat area contributed to the company's top ratings.
"Major domestic and international utilities are seeking the premium Certified Responsibly Sourced Gas producers like Olympus are offering. Net-zero requires solutions for low-methane verified environmental attributes and freshwater use, among other ESG markers," said Chris Romer, Co-founder and CEO of Project Canary. "Not often do we see a producer achieve best-in-class ratings across-the-board like Olympus has. It's a credit to their industry leadership for making environmental integrity fundamental to the business."
Olympus was the first integrated exploration and production company to seek complete upstream and midstream certification, with the Hyperion Midstream review beginning in July.
ABOUT THE COMPANIES:
At Olympus Energy, we strive to actively employ our core values daily, ensuring that we are the natural gas company that communities trust most. Olympus Energy has assembled a large contiguous acreage position in the Appalachian Basin. We currently operate in Allegheny and Westmoreland counties, with an acreage position that expands into Butler and Washington counties. Our position consists of approximately 100,000 net acres positioned in Southwestern Pennsylvania's dry gas core. Visit olympusenergy.com to learn more.
Project Canary is a data analytics company focused on accurate corporate climate ESG data for emission-intensive industrial companies. We are the leaders in holistic environmental assessments (air, water, land, and community). Project Canary scores responsible operations, delivering independent emission profiles via high-fidelity continuous monitoring technology to provide actionable environmental performance data. Our sensor portfolio includes high-fidelity spectroscopy-based methane detection and emissions quantification for the oil and gas sectors, plus Aeris Technologies’ laser-based gas analyzers covering other emissions, including ethane, nitrous oxide, formaldehyde, ethylene oxide, benzene, and more. Formed as a Public Benefit Corporation, Project Canary’s Denver-based team of scientists, engineers, and seasoned industry operators identify and quantify areas to reduce emissions. www.projectcanary.com
Olympus Energy Contact:
Kim Price
Communications Director
This email address is being protected from spambots. You need JavaScript enabled to view it.
Project Canary Contact:
Rachael Shayne
Chief Marketing Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
DENVER--(BUSINESS WIRE)--Sitio Royalties Corp. (NYSE: STR) (“Sitio”) today announced that it will report operating and financial results for the second quarter of 2022 on Monday, August 8, 2022, after the close of trading on the New York Stock Exchange.
Sitio will host a conference call at 8:30 a.m. Eastern on Tuesday, August 9, 2022 to discuss its second quarter 2022 operating and financial results. Participants can access the call by dialing 1-888-440-5983 in the United States or 1-646-960-0202 in other locations with access code 5570483 or via webcast at https://events.q4inc.com/attendee/537881978. The conference call, live webcast and archive of the call can also be accessed through the Investor Relations section of Sitio’s website at www.sitio.com.
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 173,000 net royalty acres (“NRAs,” when normalized to a 1/8th royalty equivalent) through the consummation of over 180 acquisitions to date, after giving effect to the completion of all signed transactions to date. More information about Sitio is available at www.sitio.com.
Forward Looking Statements
This new release contains statements that may constitute “forward-looking statements” for purposes of federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties that could cause our actual results, performance, and financial condition to differ materially from our expectations and predictions. See “Risk Factors” in Falcon’s definitive proxy statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 5, 2022 for a discussion of risk factors related to the merger between Falcon and Desert Peak and Desert Peak’s business. See also Part I, Item 1A “Risk Factors” in Falcon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Part II, Item 1A “Risk Factors” in Falcon’s Quarterly Reports on Form 10-Q , each filed with the SEC for a discussion of risk factors that affect Falcon’s business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them. Sitio undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law.
IR contact:
Ross Wong
(720) 640–7647
This email address is being protected from spambots. You need JavaScript enabled to view it.
Project emphasizes the initiative's mission to use blockchain capabilities to monitor and verify the production and consumption of clean energy among storage providers
NEW YORK--(BUSINESS WIRE)--Filecoin Green, a Protocol Labs initiative to decarbonize the Filecoin Network, announced today a milestone in their renewable energy partnership with DCENT Storage to enable granular reporting and verification of clean energy consumption of DCENT’s hardware. DCENT, the largest European storage entity on the Filecoin network, will install an array of solar panels at its data center located in Heerhugowaard, Netherlands to expand its clean energy capacity. The partnership will utilize Filecoin Green’s monitoring and reporting tools to verify solar production and hardware electricity consumption.
Installation of the rooftop solar array began in March 2022 and has already seen the installation of 238 panels, each with a capacity to generate 385 watts. This project creates a direct supply of clean energy that will power data storage capabilities and allows the provider to establish a verifiable link between RECs and its on-site energy sources. Unlike offsets, direct energy production increases the proximity of clean energy production and consumption, improving electricity matching capabilities.
This proximity improves transparency around DCENT’s sustainability claims and sets a precedent for verifiable sustainability reporting and clean energy consumption among storage providers. Using Filecoin Green’s suite of reporting and monitoring tools integrated with DCENT’s energy consumption and solar generation, Filecoin storage users can see geographically where their data is stored and view energy consumption metrics.
“Blockchain’s open source nature enables us to provide tools for verifiable, transparent energy reporting and encourage the development of more clean energy capacity as we work to support the energy transition,” says Alan Ransil, Filecoin Green Project Lead. ”Filecoin Green is dedicated to improving the way we report and track sustainability metrics, and helping foster the creation of clean energy sources to power our activities.” In 2021, Filecoin Green mobilized $38M of capital to build new solar generation in the US, which will generate more clean electricity each year than the Filecoin network uses in the US.
Filecoin Green is financing this project through its recently announced Regenerative Finance (ReFi) Green Grants Program, which empowers a series of experimental projects for proof of concept of clean energy capacity and software development. For DCENT, access to clean energy not only reduces reliability on the grid, but allows the data center to continue running consistently during the current energy crisis in Europe. As the data center continues to improve access to granular, real time energy consumption and generation data, they work to gain a thorough understanding of the impact of their clean energy.
“As a previous Ethereum miner, I want to enable use of utility blockchains for sustainable impact, directing their energy usage for good,” says DCENT Computer Hardware Specialist, Hidde Hoogland. “As a 100% renewable energy powered data center, we aspire to empower other storage providers to meet a new standard for localized, clean energy usage and reporting, using Web3. We have developed a guidebook to help other storage providers improve their sustainability”.
ABOUT FILECOIN GREEN
Filecoin Green is a Protocol Labs initiative to decarbonize the Filecoin Network. The initiative is spearheading a future of verifiably clean energy powered by crypto. By marrying blockchain’s granular tracking functionality with the information-sharing infrastructure of Web3, Filecoin Green will incentivize its network to reduce emissions. Starting with decarbonizing the Filecoin Network, the initiative then aims to build open-source tools that quantifiably measure and mitigate emissions generated from crypto-related activity. Filecoin Green aspires to prove that clean blockchain is not an aspiration, but reality. To learn more about Filecoin Green’s mission, visit filecoin.io.
ABOUT DCENT
DCENT Hosting BC is one of the largest European storage entities on the Filecoin Network, located near Amsterdam. They operate with a private IP backbone, 100Gbit/s of throughput, and 100% renewable energy. DCENT places privacy at the core of their vision and aspires to provide 100PiB of mirrored storage by the end of 2022. To learn more about DCENT storage, visit https://dcent.nl/about/.
Media
Emily Taylor
Antenna for Filecoin Green
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.