OAKVILLE, Ontario--(BUSINESS WIRE)--Siemens Energy announced today that it has been selected as the single solution supplier for the all-electric Woodfibre LNG project near Squamish, in British Columbia, Canada. Siemens Energy’s scope includes all equipment associated with the main refrigeration trains including compressors, synchronous motors, variable speed drives, converter transformers, harmonic filters and numerous powerhouses. The main refrigeration compressor trains are one of the components of the liquefaction process that produces the LNG that will eventually be stored in tanks and then transported to LNG tankers for shipping abroad.
The environmentally friendly LNG facility will be located at the site of a former pulp and paper operation. It will be sized for 2.1 million tonnes per annum and utilize clean, renewable hydroelectricity, reducing its greenhouse gas emissions by more than 80%. This will make the plant one of the lowest emission LNG export facilities in the world. It will also support global decarbonization with exports to Asian economies that are currently driven by coal.
Rich Voorberg, president of Siemens Energy for North America said “When it comes to the energy transition, we know that natural gas will be part of the answer. We are proud of our ability to bring end-to-end solutions to industry leading clean energy projects like this one and view the Woodfibre LNG plant as playing an instrumental role in the energy transition here in North America.”
“Woodfibre LNG is working to incorporate a sustainable approach into as many aspects of our project’s engineering and design as possible,” said company president Christine Kennedy. “This includes using safe, efficient equipment for the LNG refrigeration process – like that which Siemens Energy will supply – to build what will become the world’s lowest-emission LNG export facility.”
The project is expected to reach substantial completion in 2027 and begin commercial operation by September of that year. Once completed, it is expected to provide over 100 long-term family-supporting jobs.
This press release and a press picture / press pictures / further material is available at https://press.siemens-energy.com/na.
For more information about our integrated LNG solutions, visit https://bit.ly/3RguOLN.
Follow us on Twitter at: www.twitter.com/siemens_energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 91,000 people worldwide in more than 90 countries and generated revenue of €28.5 billion in fiscal year 2021. www.siemens-energy.com.
Stacia Licona
+1 (281) 721-3402
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PARIS--(BUSINESS WIRE)--In accordance with the regulations relating to share buybacks, Technip Energies (PARIS:TE) declares the following purchases of its own shares during the week of July 4 to July 8, 2022.
These transactions were carried out as part of a buyback program with a discretionary mandate carried out by an investment services provider making decisions relating to the acquisition of Technip Energies shares independently.
Name of the Issuer |
Identity Code of the Issuer (LEI Code) |
Day of the Transaction |
Identity Code of the Security |
Total Daily volume (in number of shares) |
Daily weighted average purchase price of the shares (in €) |
Market Identity Code |
Technip Energies |
724500FLODI49NSCIP70 |
2022-07-04 |
NL0014559478 |
29 917 |
12,233033 |
XPAR |
Technip Energies |
724500FLODI49NSCIP70 |
2022-07-05 |
NL0014559478 |
40 000 |
12,120485 |
XPAR |
Technip Energies |
724500FLODI49NSCIP70 |
2022-07-06 |
NL0014559478 |
40 000 |
11,431530 |
XPAR |
Technip Energies |
724500FLODI49NSCIP70 |
2022-07-07 |
NL0014559478 |
40 000 |
11,675351 |
XPAR |
Technip Energies |
724500FLODI49NSCIP70 |
2022-07-08 |
NL0014559478 |
35 000 |
12,002940 |
XPAR |
|
|
|
TOTAL |
184 917 |
11,871127 |
|
For detailed information on the transactions carried out and on the objectives of the shares purchases, please refer to the detailed declaration available on https://investors.technipenergies.com/financial-information/notice-trading-own-shares.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.
For further information: https://www.technipenergies.com.
Phillip Lindsay
Vice-President, Investor Relations
Tel: +44 203 429 3929
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Media Relations
Stella Fumey
Director, Press Relations & Digital Communications
Tel: +33 1 85 67 40 95
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Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
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Annual report illustrates Sappi’s commitment to advancing STEM careers for women and innovation with renewable resources
BOSTON--(BUSINESS WIRE)--Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, today released its 2021 Sustainability Report, which includes the highest possible rating from EcoVadis, the world’s most trusted provider of business sustainability ratings.
Sappi Limited, including Sappi North America, has once again earned a Platinum rating in the annual EcoVadis Corporate Social (CSR) ratings. This achievement places Sappi North America individually and Sappi Limited collectively in the top 1% of all companies reviewed. EcoVadis evaluated Sappi’s commitment to sustainable practices using 21 criteria, including environment, labor and human rights, ethics and sustainable procurement.
The 2021 Sustainability Report displays Sappi’s dedication to innovation, sustainability and business growth throughout its communities and staff. The report also highlights how Sappi remained innovative and prosperous amid supply chain disruptions; its steadfast resolve to advancing women in leadership roles, along with strategic partnerships to forge a path for women in STEM; and its commitment to employee safety and third-party collaborations for sustainability initiatives.
To help achieve its ambitions 2025 sustainable developments goals, Sappi continued to integrate the principles of the United Nations' Sustainable Development Goals as a key part of its business and sustainable practices.
“Our business strategy, operational efficiencies and critical improvement plans in 2021 drove our strong market performance, while at the same time meeting or exceeding our targets for environmental stewardship,” said Mike Haws, President and CEO, Sappi North America. “These achievements are an encouraging start on our journey toward aligning our 2025 strategic goals with the United Nations Sustainable Development Goals, an important global benchmark for sustainability.”
Sustainability Achievements
Highlights from the report include:
“Let me make this real for a moment: our improvement in energy efficiency from the 2019 baseline is enough to electrify over 80,000 homes for a year,” said Beth Cormier, Vice President of Research, Development and Sustainability, Sappi North America. “Our reduction in carbon dioxide emissions, off this same baseline, is equivalent to annually removing over 24,000 cars from our highways. This does not happen without a strong plan to meet these goals, and more importantly, it can only happen with dedicated employees to execute that plan. We accomplished our goals against the difficulties of the COVID pandemic and continual challenges to employee wellness—a real testament to Sappi’s adaptability and perseverance.”
To read Sappi North America’s full 2021 Sustainability Report and request a copy, please visit: http://www.sappi.com/sustainability-and-impact.
About Sappi North America, Inc.
Sappi North America, Inc., headquartered in Boston, is a market leader in converting wood fiber into superior products that customers demand worldwide. Our four diversified businesses – high-quality Graphic Papers, Dissolving Pulp, Packaging, and Specialty Papers deliver premium products and services with consistent quality and reliability. Our high-quality Coated Printing Papers are used for premium magazines, catalogs, books, direct mail and high-end print advertising. We are a leading manufacturer of Dissolving Pulp, which is used in a wide range of products, including textile fibers and household goods. We deliver sustainable Packaging and Specialty Papers for luxury packaging and folding carton applications with our single-ply packaging brands and for the food and label industries with our specialty papers. We are one of the world's leading suppliers of Casting and Release Papers with lines for the automotive, fashion and engineered films industries.
Sappi North America is a subsidiary of Sappi Limited (JSE), a global company headquartered in Johannesburg, South Africa, with more than 12,000 employees and manufacturing operations on three continents in seven countries and customers in over 150 countries. www.sappi.com
For further information
Peter Steele
Corporate Communications Manager
Sappi North America
Tel +1 617 423 5409
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Christy Reiss
Senior Account Executive
Matter Communications
Tel +1 585 489 5006
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OSLO, Norway--(BUSINESS WIRE)--#Alkaline--Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order for an alkaline electrolyser system from Skovgaard Energy Aps in Lemvig in Western Jutland, Denmark. The electrolyser system will be used for production of green ammonia.
The green ammonia plant, to be built by Skovgaard Energy and their Danish project partners, Topsoe and Vestas, will be the world’s first dynamic green ammonia plant, where renewable electricity from wind and solar will be connected directly to the electrolyser. This is a demo plant that will test how an ammonia reactor can fluctuate operations based on renewable power input. This will be important learning prior to scaling for future large-scale power-to-X and green ammonia plants. The Danish partnership has been awarded financial support for the project by the Danish Energy Technology Development and Demonstration Program (EUDP).
“We are thrilled for this project, which will be an important milestone in the green transition as it showcases green hydrogen production into green ammonia directly from renewable sources. Skovgaard Energy is an exciting client, and we look forward to continue a fruitful relationship with the company and partners”, says Henning Langås, Senior Tender Manager of Nel Hydrogen Electrolyser.
“For this project we selected the alkaline electrolyser technology from Nel as we do not want to risk the project with unfamiliar electrolyser technology. Nel’s alkaline electrolyser is proven technology of high quality, and it will also match well with the intentions of the demonstration project of dynamic operation of the ammonia plant”, says Pat A Han, Technical Director of Skovgaard Energy. The contract has an approximate value of EUR 4m, and the system is expected to be delivered in Q3 2023.
About Nel ASA | www.nelhydrogen.com
Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.
For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
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Integrated control and safety platform optimizes world’s largest green hydrogen production and storage facility and supports reliable, clean power generation
PITTSBURGH--(BUSINESS WIRE)--Mitsubishi Power Americas, Inc. has selected Emerson (NYSE: EMR), a global software and engineering leader, to automate the world’s largest green hydrogen production and storage facility. The industry-leading hub will help integrate renewable energy by producing and storing green hydrogen for long duration energy storage. Mitsubishi Power will leverage Emerson’s hydrogen production experience and automation software expertise to increase safety, decrease costs and simplify maintenance across the life cycle of the facility.
Excess renewable energy generated during the winter and spring is difficult and costly to store in its native state for use during the peak summer season and, as a result, is wasted. The Advanced Clean Energy Storage hub will use renewable electricity to power electrolyzers to produce green hydrogen. The produced hydrogen will be stored underground in salt caverns so that it can be dispatched when required to generate clean electricity from hydrogen-fueled turbines, which will help stabilize the grid with sustainable sources and create a new pathway to decarbonization of the western United States.
“Generating, storing and transmitting electricity with zero carbon emissions is critical to meeting the world’s sustainable power generation needs,” said Michael Ducker, senior vice president of Hydrogen Infrastructure for Mitsubishi Power Americas and president of Advanced Clean Energy Storage I. “Emerson’s hydrogen expertise and digitally connected architecture design will help shorten time to start up, while also developing a safe, reliable and easily scalable transmission system to meet our goals for renewable energy production and storage.”
The Advanced Clean Energy Storage hub will convert renewable energy through the 220-megawatt (MW) electrolyzer bank to produce up to 100 tons of green hydrogen per day. The facility will have storage for 300 gigawatt hours (GWh) of energy in two salt caverns. In comparison, the battery storage capacity across the United States is 2-GWh via lithium-ion batteries. The Advanced Clean Energy Storage hub has space for up to 100 caverns.
This first-of-its-kind integrated facility will provide short- and long-duration hydrogen storage for use during peak seasons and throughout the year at the nearby 840-MW Intermountain Power Project (IPP Renewed). IPP Renewed will use 30% (vol) hydrogen fuel in Mitsubishi Power M501JAC gas turbines at start up, transitioning to 100% (vol) hydrogen by 2045. Emerson and Mitsubishi Power are collaborating on digital solutions for IPP Renewed to optimize plant performance, improve reliability and create cleaner, more reliable power.
“One of the most complex issues in power distribution is successfully managing variability of demand and supply to reduce stress on the grid,” said Bob Yeager, president of Emerson’s power and water business. “Mitsubishi Power has successfully leveraged the digital automation stack to develop an innovative, sustainable way to solve that problem, enabling providers to consistently use peak-production renewable energy in peak-consumption hours.”
Mitsubishi Power will use Emerson’s Ovation™ integrated control and safety platform to optimize the Advanced Clean Energy Storage hub’s production efficiency and help ensure safe operations. The Ovation platform will provide reliable control and monitoring of the renewable hydrogen production process and emergency shutdown, fire and gas protection. The platform will also gather and contextualize data from the plant’s wide variety of third-party systems to help eliminate complexity and risk. Emerson’s PACSystems™ RSTi-EP I/O will provide easier field connectivity and help facilitate project changes without extending timelines or increasing cost, while AMS Device Manager will help monitor the health of plant assets to improve safety, reliability, efficiency and sustainability.
Additional resources:
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and software company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
Emerson
Denise Clarke
512.587.5879
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CALGARY, Canada--(BUSINESS WIRE)--$BLN #TSX--Blackline Safety Corp. (TSX: BLN), a global leader in connected safety technology, today announced it has been shortlisted in the 2022 SaaS Awards in three categories—Best SaaS Product for Health & Safety or Risk Management, Best SaaS Innovation in the Internet of Things, and Best SaaS Product for Business Intelligence or Analytics.
Now in its seventh year of celebrating software innovation, the New York-based international program looks at hundreds of companies worldwide from North America, Australia, UK, Europe and the Middle East, which were evaluated by an international panel of judges.
“SaaS technologies are now part of successful business DNA and continue to evolve,” said James Williams, Head of Operations for the SaaS Awards.
“This year we’ve seen a raft of truly remarkable software solutions. The shortlisted candidates announced today, however, have proven to be truly innovative thinkers in the SaaS industry, whether they’re freshly-funded disruptors or established names.”
Blackline Safety’s SaaS-enabled, cloud-based wearables for personal and area gas monitoring put reliable data at managers’ fingertips so they can gain a better understanding of safety situations facing employees in real-time. The technology features GPS-enabled safety sensors that leverage the Internet of Things (IoT), providing valuable data analytics and connecting workers to live 24-7 command centre monitoring.
“To be awarded this recognition in the SaaS Awards, the SaaS industry’s de facto recognition platform, is an immense honor,” said Cody Slater, CEO and Chair, Blackline Safety.
“Our innovative technology is transforming the future of work in the modern industrial workplace—over 1,000 companies in 70 countries across 12 sectors rely on us to power their data-drive safety program.”
SaaS Awards finalists will be announced on Tuesday, August 23rd, 2022, with the category winners announced on Tuesday, September 13th, 2022.
About Blackline Safety
Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT (Internet of Things). With connected safety devices and predictive analytics, Blackline enables companies to drive towards zero safety incidents and improved operational performance. Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries. Armed with cellular and satellite connectivity, Blackline provides a lifeline to tens of thousands of people, having reported over 180 billion data-points and initiated over five million emergency responses. For more information, visit BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
MEDIA CONTACT
Blackline Safety
Christine Gillies, CMO
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+1 403-629-9434
ZURICH, Switzerland & DE PERE, Wis.--(BUSINESS WIRE)--#EnergyMadeEfficient--Constellation Clearsight, a U.S. leader in innovative energy inspections, announced today a long-term agreement with Voliro AG, a Swiss-based technology provider that specializes in developing advanced airborne robots for critical infrastructure inspection and maintenance.
“Voliro’s highly-maneuverable, advanced aerial inspection platform combined with Clearsight’s experienced experts will provide customers with actionable insights about the structural integrity of their equipment without risking the safety of a human inspector,” said Jimmy Carter, General Manager, Constellation Clearsight.
Clearsight will provide its customers with a breakthrough in mobility with the state-of-the-art Voliro T flying robot to further advance its expert inspection offerings. The Voliro T employs six degrees of freedom to fly effortlessly and steadily in the air and to touch objects at any angle. This unique 360-degree drone will enable Clearsight to go further with Non-Destructive Testing (NDT) and provide Ultrasonic Testing (UT) and Dry-Film Thickness (DFT) measurements to its customers.
“Constellation Clearsight presents us with an incredible opportunity – their qualified experts have the knowledge, resources and physical assets to offer solutions to plant owners to perform inspections faster and safer than before,” said Mina Kamel, CEO, Voliro,
Clearsight will assist Voliro in further developing its application base, collaborate on market events, and provide direct market feedback on future releases.
About Voliro
Voliro has developed a highly advanced flying inspection robot for safe and efficient work at height. Voliro protects and maintains critical infrastructure by delivering high quality, cost-effective and time-efficient robotic inspection and maintenance solutions. Voliro’s powerful aerial robotics platform is supported by a strong ecosystem of applications delivered via in-house and third-party capabilities. Voliro has already demonstrated strong traction across various industries, for example the oil and gas, petrochemicals, maritime, infrastructure and energy sectors. For more information, please visit https://www.voliro.com or on LinkedIn: https://www.linkedin.com/company/voliro-ch.
About Constellation Clearsight
Constellation Clearsight provides safer, more effective inspections of critical infrastructure by using cutting-edge drone, robot, sensor, submersible and software technologies to deliver key insights that reduce the total cost of asset ownership. Constellation Clearsight is a wholly owned subsidiary of Constellation Energy Corporation (Nasdaq: CEG), the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities have the generating capacity to power approximately 20 million homes and provide 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG. Learn more about Constellation Clearsight at https://constellationclearsight.com.
Mina Kamel, CEO and Co-founder, Voliro AG, This email address is being protected from spambots. You need JavaScript enabled to view it.
Mark Rodgers: This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, July 27, 2022 at 10 a.m. Eastern Time to discuss its second quarter 2022 earnings release.
To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number. This conference call and subsequent replay will also be accessible by webcast (audio only).
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.
Forward-looking Statements
Certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, uncertainties inherent in the measurement and interpretation of geological, geophysical and other technical data. Estimates and projections contained in this release are based on the Company’s current understanding and assessment based on reasonable assumptions. Actual results may differ materially from these estimates and projections due to certain risk factors discussed in the Corporation’s periodic filings with the Securities and Exchange Commission and other factors.
Investor:
Jay Wilson
(212) 536-8940
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Media:
Lorrie Hecker
(212) 536-8250
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New Software Features Drive Tangible Bottom Line Impact, Helping Organizations Rightsize and Control Software Spend at a Moment Where Cost Optimization Is a Priority for Everyone
NEW YORK--(BUSINESS WIRE)--Tropic, the purchasing infrastructure platform that helps companies optimize SaaS buying, announces the release of new features that eliminate inefficient spending within a company’s tech stack, all through a single, integrated dashboard. Tropic enables companies to better navigate fluctuating economic conditions by making significant reductions to their operating expenditures without compromising their tech stack or related capabilities. Through increased visibility, process automation, and enhanced negotiation tools, Tropic saves companies an average of 23% and 380 hours annually on software purchasing, while helping them adapt their buying approach for the current economic climate.
Tropic aggregate data reveals economic volatility is already changing SaaS buying behavior, with a 77% year-over-year decline in multi-year contract requests, suggesting companies are prioritizing flexibility (payment frequency and terms) and are willing to head back to the negotiating table to get it. Tropic data also shows that less than 5% of companies froze new software purchases in the past month, indicating that optimization is trumping budget cuts on the tech front.
“With discussion of an impending recession looming, decision-makers have been forced into a corner - cut software spending or cut headcount," said David Campbell, CEO of Tropic. “Our data indicates that companies are currently overpaying for software, by around 30%, which presents tech-forward organizations with a direct opportunity to reduce their opex and rightsize their contracts. By providing today’s companies with turnkey purchasing infrastructure, our expansive platform delivers all the cost-optimization capabilities and services they need in order to weather the storm.”
Tropic’s software platform now includes functionality that automates complex purchasing and approval workflows, such that any stakeholder at any company can easily buy the tools they need from a single purchasing portal. In addition, new spend control features allow companies to monitor tool-specific usage across their software stack at the user level and measure against the contract in place to ensure appropriate spend and create maximum impact during the contract renewal process.
“We started working with Tropic in the middle of the pandemic and started seeing value almost immediately,” said Steve McMullen, Broadlume’s VP of Business Operations. “I love hopping into the dashboard and seeing the dollar value of savings that we’ve achieved with Tropic.” Beyond the dollars and cents, the Tropic platform also helps companies clear productivity roadblocks for their entire organization. “They’ve allowed me to be more productive in other areas of the business and actually improved our relationships with vendors,” said Heather Scheel, a Senior Systems Program Manager at Broadlume.
Companies can use Tropic to buy additional licenses, renew contracts, buy new tools, and cancel agreements with the click of a button. At the same time, Tropic also empowers central finance and procurement teams with unprecedented visibility and control over approvals, sourcing events, spend management, renewal dates, and vendor market insights. Activities that used to require hours of research, email, and phone calls now happen in a point-and-click format on the Tropic platform, with Tropic’s Assisted Purchasing service absorbing the manual effort. Tropic has processed 10,000+ transactions for 170 customers across 2,000+ vendors, and it is using the insights to create ongoing, differentiated value for its customers.
About Tropic
Tropic is the Purchasing Infrastructure Platform. The average company is overpaying on software by 30% because of unnecessary complexity in the purchasing process. Tropic delivers data, tools, and services, enabling customers to reduce expenses and manage spend with unprecedented control. Tropic manages hundreds of millions in spend for companies like Qualtrics, Intercom, Vimeo, and Zapier. Tropic is also hiring! Learn more about Tropic and available careers by clicking "Jobs" on the Tropic homepage.
Media:
Cari Sommer
RAISE Communications
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The complaint against SMA covers six patents related to solar rapid shutdown technology.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, has filed a lawsuit against SMA Solar Technology America LLC. The complaint includes six patent infringement claims, four of which have resulted in multiple suppliers signing license agreements with Tigo Energy. The complaint was filed in the United States District Court for the District of Delaware and includes all SMA legal entities in the U.S. and around the world.
The Tigo complaint alleges that SMA products compliant with SunSpec Alliance specifications infringe U.S. patents 8,823,218, 8,933,321, 9,584,021, 9,966,848, 10,256,770, and 10,333,405. The complaint is focused on various systems and methods used in module-level rapid shutdown units that are attached to photovoltaic (PV) panels. Specifically, the complaint alleges that SMA and certain of its suppliers copied Tigo innovations that comply with rapid shutdown requirements of the NFPA 70® National Electric Code®.
According to National Electric Code § 690.12, “Rapid Shutdown of PV Systems on Buildings,” requires that PV system circuits “installed on or in buildings shall include a rapid shutdown function to reduce shock hazard for emergency responders.” Tigo is a leader in rapid shutdown technology and MLPE with more than one hundred patents granted or pending. Millions of Tigo units are installed around the world, where they provide optimized, monitored, and safe solar and protect critical solar energy infrastructure and deliver consistent ROI for the lifetime of renewable energy systems.
For more information about the portfolio of Tigo Flex MLPE solutions, please visit https://www.tigoenergy.com/ts4, and keep up with the latest information from Tigo by signing up for the Company’s newsletter here: https://www.tigoenergy.com/newsletter.
About Tigo Energy
Tigo Energy, the worldwide leader in Flex MLPE (Module Level Power Electronics), designs innovative solar power conversion and storage products that provide customers more choice and flexibility. The Tigo TS4 platform increases solar production, decreases operating costs, and enhances safety. When combined with the Tigo Energy Intelligence (EI) platform, it delivers module, system, and fleet-level insights to maximize solar performance and minimize operating costs. The Tigo EI Residential Solar Solution, a flexible solar-plus-storage solution for home installations, rounds out the Company’s portfolio of solar energy technology. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy, and its global team supports customers whose systems reliably produce gigawatt hours of safe solar energy on seven continents. Find us online at www.tigoenergy.com.
Mike Gazzano
North America Marketing Manager at Tigo Energy
(408) 806-9626 Ext. 9783
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CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--#batteries--East Point Energy (“East Point” or the “Company”), an experienced developer of grid-scale energy storage projects, is pleased to announce it has signed an agreement to sell the Company to Equinor, a leading company in the energy transition.
Led by CEO Andrew Foukal, the founders will continue to manage East Point as a wholly-owned subsidiary of Equinor. The financial strength and renewable energy expertise of Equinor will enable East Point to accelerate its growth, build out its 4+ gigawatts (GW) pipeline of strategically-sited projects across the U.S., and transition the Company into a market-leading independent power producer.
Founded in 2018 by an executive team with deep experience in the U.S. renewable energy sector, East Point has established a proven track record of growth while executing on its founding mission to make the electrical grid more renewable, resilient, and affordable. With long-term backing from Equinor, a global leader in the energy transition, East Point is poised to pursue at scale the burgeoning U.S. energy storage market opportunity. The talented team at East Point will continue to employ a fundamentals-based development philosophy and foster a collaborative and purpose-driven culture.
“When we set out to find a capital partner, first and foremost, we were looking for a strategic and cultural fit,” says Andrew Foukal, CEO of East Point. “The Equinor team understands our business and the critical importance of energy storage. They have established a significant presence in the U.S. and are dedicated to long-term growth. This is a great opportunity for both teams, as well as our project partners going forward.”
Equinor is one of the largest offshore wind developers in the U.S. The acquisition supports Equinor’s ambition to be a leading company in the energy transition and provides a platform for broadening its energy offerings in the U.S.
“We look forward to working together with East Point Energy to build a portfolio of battery storage assets in the U.S. This strengthens and diversifies our existing renewable energy offerings in the U.S., which includes substantial offshore wind projects Empire Wind and Beacon Wind,” says Siri Espedal Kindem, senior vice president for Equinor Renewables US.
Marathon Capital, an independent investment bank delivering strategic financial advice to the clean energy, sustainable technologies, and infrastructure markets, acted as exclusive financial advisor to East Point on the transaction.
“It was an absolute pleasure working with the East Point team, and we are delighted to have assisted them on their journey to be one of the most significant standalone battery storage platforms in the U.S. In Equinor, East Point has found not only a great cultural fit, but also the full backing and know-how of a world-class energy company,” says Ammad Faisal, Senior Managing Director and Co-Head of the NYC office at Marathon Capital.
About East Point Energy
East Point Energy develops standalone, grid-scale energy storage projects that enable a more renewable, resilient, and affordable electric grid. East Point is currently developing gigawatts of energy storage projects throughout the country and has transacted on several hundred megawatts with some of the largest, most sophisticated energy investors in the country.
The firm’s executive team founded East Point in 2018, bringing decades of combined energy development experience and over 1.8 gigawatts of solar, wind, and energy storage projects currently in operation across the United States.
East Point is technology and contractor agnostic, allowing us to find the best solution for each project. Our nimble team is comprised of hard-working, strategic problem solvers who are passionate about sustainability. Success for East Point is measured by delivering affordable energy storage solutions that benefit the grid, communities, and our environment. www.eastpointenergy.com
About Equinor Renewables US
Equinor is one of the largest offshore wind developers in the U.S., where it operates two lease areas, Empire Wind and Beacon Wind. Together, Empire Wind 1, Empire Wind 2, and Beacon Wind 1 will provide New York State with 3.3 gigawatts (GWs) of energy —enough to power nearly two million homes—including more than 2 GWs from Empire Wind 1 and 2 and 1,230 megawatts from Beacon Wind 1. www.equinor.com/where-we-are/us-renewables
About Marathon Capital
Over its more than two-decade history, Marathon Capital has emerged as the world’s largest independent advisory bank serving the global sustainable energy, technology, and infrastructure markets. The firm is known as a key thought leader in global energy transition and is consistently viewed as the most innovative bank across clean energy with strong, established relationships among both strategic and financial institutional investors located throughout the United States, Canada, Latin America, Europe, Middle East, Asia, and Australia. Marathon Capital is a leading Clean Energy Advisor as ranked by Bloomberg LP in its annual New Energy Finance League Tables from 2019 - 2021 and has been a multi-year winner of M&A Advisor of the Year by Power, Finance & Risk Magazine. Marathon Capital operates from its global headquarters in Chicago, IL, and offices in New York, Houston, San Francisco, and London, as well as representative offices in Canada and Brazil. www.marathoncapital.com
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Full notice-to-proceed for a 1.4 million tonnes per annum LNG gas treating and liquefaction plant
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that it was awarded a full notice-to-proceed (FNTP) contract by New Fortress Energy Inc., for the engineering, procurement and fabrication management of the NFE Fast LNG 2 project. The project is a nominal 1.4 million tonnes per annum LNG gas treating and liquefaction plant to be placed on fixed offshore platforms. Fluor will book the undisclosed reimbursable contract value in the second quarter of 2022.
“Fluor, in conjunction with key licensors and suppliers, provides NFE with an integrated modular mid-scale LNG export solution for these projects,” said Jim Breuer, Fluor’s Energy Solutions group president. “The Fluor design and execution plan facilitates repeatable project models that can be used to replicate similar plants in the future.”
The Fast LNG 2 project is another offshore modular mid-scale LNG plant that NFE has awarded to Fluor this year. The first NFE Fast LNG 1 project was awarded in the first quarter of this year and is a similar modular mid-scale design being installed on repurposed drilling jack-up rigs. This modular plant will be installed by others and available for dispatch to various locations around the world providing NFE the opportunity to access multiple gas supply sources.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.
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Media Relations
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Jason Landkamer
Investor Relations
469.398.7222
Climate tech startup that designs, manages and covers 100% of upfront costs to modernize home energy systems announces WGN Radio contest to select essential worker to receive home comfort retrofit.
CHICAGO--(BUSINESS WIRE)--Sealed officially launched its services in the Chicago metro area, becoming Chicagoland residents’ full service partner to stop home energy waste and electrify their homes. As Chicagoans enter another blazing hot and humid summer, Sealed is also announcing “Sealed For Heroes Chicago,” a contest with WGN Radio to provide a free home energy efficiency project to deliver comfort and reduced energy use to a deserving homeowner who has been an essential worker during the COVID-19 pandemic. Contest details and entry form are available at sealed.com/hero.
Chicago and Illinois stand out as regions of the country where hot, humid summers, cold winters, and old, inefficient homes come together. Illinois ranks seventh among the states in single family homes’ energy use for heating; it’s also seventh in energy used for cooling by single family homes. A partial cause of these high energy expenditures is a concentration of homes constructed before energy efficiency was a major consideration for builders and buyers. In the Chicago metro area, 84% of homes were built before the year 2000, when efficiency standards became prominent.
“Millions of Chicagoland residents live in drafty, poorly-insulated homes with aging HVAC systems that waste energy. The area is an ideal match for our services with its hot, humid summers, cold winters, and old housing stock,” said Lauren Salz, CEO and cofounder of Sealed. “Chicago area residents are now able to make their homes more comfortable, stop energy waste, eliminate fossil fuels, and slash their household emissions–all with zero up-front payment.”
Sealed’s proven holistic approach to eliminating energy waste can reduce energy use by up to 50% and take homes completely off of fossil fuels with upgrades like high-performance insulation, air sealing, and heat pumps. To get home energy upgrades done quickly and smoothly, Sealed eliminates up-front costs with a unique performance payment program, and manages the entire process of finding and vetting contractors to carry out the work. Sealed is the only service provider in the home energy improvement sector that’s accountable to its impact: if the company doesn’t cut energy waste, it doesn't get paid.
“Chicago area housing is in dire need of energy efficiency updates. Partnering with Sealed as they enter the Chicago market will allow us to hire more people, grow our business, and serve our community,” said Dumitru Nicolaescu, owner of Green Attic, a local Chicago home energy improvement contractor and Sealed preferred service provider. “When we met the Sealed team, we felt like kindred spirits. We truly believe homeowners can be more comfortable with less energy and we are excited to work with Sealed to accelerate our impact in the local community.”
“Having spent much of my childhood, in old, drafty houses in the area, I know how much Chigagoans can benefit from our services,” said Andy Frank, Sealed’s cofounder and President and a native of the Glen Ellyn suburb of Chicago. “As we make Chicagoland homes more comfortable and less wasteful, we’ll also make a dent in greenhouse gas emissions in the region, a central goal of Illinois’ Climate Act of 2021.”
Sealed For Heroes Chicago
To celebrate bringing more comfort, more convenience and reduced climate change impact to the Chicago area, Sealed has partnered with WGN Chicago and Lou Manfredini to find a single-family homeowner from the Chicago area that deserves a comfortable and energy efficient home. In the past two years essential workers have gone above and beyond to keep us healthy, our kids in school, and our communities functioning. Our hardest workers deserve to enjoy all of the comforts of home, and reduce their energy use.
The winner will receive a whole home comfort makeover including upgrades like insulation, HVAC, and smart home tech. These upgrades can reduce your home’s energy waste by up to 50%, make your house warmer in winter, cooler in summer, and will balance out uneven temperatures all year round. The project will be installed by a top rated local contractor. Friends, family and neighbors can nominate an essential worker in their lives or they can nominate themselves at sealed.com/hero from June 30 to July 31. Details and official terms are available at sealed.com/hero.
About Sealed:
Sealed is a climate tech company on a mission to stop home energy waste and electrify all homes. Sealed designs, manages and finances home weatherization and electrification projects, making it easy and affordable for people to be more comfortable while using less energy. Our proven holistic approach can reduce energy use by 50% and take a home completely off of fossil fuels with upgrades like high-performance insulation, air sealing, and heat pump HVAC. Our expert team designs the right solution, matches top-rated local contractors, and manages the project start to finish. Sealed covers the upfront costs, and we’re accountable to impact: if we don’t cut energy waste, we don’t get paid. Sealed is venture backed and based in New York City. Learn more at sealed.com.
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Josh Garrett
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COLUMBUS, Ind.--(BUSINESS WIRE)--Today, Cummins Inc. (NYSE: CMI) announced the election of Gary Belske to its Board of Directors.
“I am thrilled to add Gary to our Board of Directors,” said Tom Linebarger, Chairman and CEO, Cummins Inc. “Gary will enhance the strength of our board with his leadership experience, knowledge of a broad range of industries, and deep expertise in financial reporting that can augment the rigor and transparency of our financial processes.”
Belske had a 38-year career at Ernst & Young before retiring in Dec. 2016. In his most recent role as Ernst & Young’s Deputy Managing Partner and Chief Operating Officer, he was responsible for the overall strategy and operations for the Americas, where he oversaw business in 16 countries with approximately $15 billion in revenue, 50,000 employees and 4,000 partners. Prior to that, Belske served in other key leadership positions at Ernst & Young and worked with several of the firm’s largest global clients.
Belske has extensive board experience, having served on Ernst & Young’s Americas and U.S. Boards for a decade. He also currently serves on the national board of College for Every Student and on the Board of Trustees at Rockhurst University. Since retiring from Ernst & Young, he has served on the Board of WilliamsMarston, an accounting, tax and valuation advisory firm.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24.0 billion in 2021. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/always-on.
Forward-looking disclosure statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; changes in international, national and regional trade laws, regulations and policies; any adverse effects of the U.S. government's COVID-19 vaccine mandates; changes in taxation; global legal and ethical compliance costs and risks; increasingly stringent environmental laws and regulations; future bans or limitations on the use of diesel-powered products; any adverse effects of the conflict between Russia and Ukraine and the global response (including government bans or restrictions on doing business in Russia); failure to successfully execute or integrate the acquisition of Meritor, Inc.; failure to realize all of the anticipated benefits from our announced acquisition of Meritor, Inc.; raw material, transportation and labor price fluctuations and supply shortages; aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, bankruptcy or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; failure to complete, adverse results from or failure to realize the expected benefits of the separation of our filtration business; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; challenging markets for talent and ability to attract, develop and retain key personnel; climate change and global warming; exposure to potential security breaches or other disruptions to our information technology environment and data security; political, economic and other risks from operations in numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; labor relations or work stoppages; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2021 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.
Jon Mills – Director, External Communications
317-658-4540
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New unified suite connects people, workflows, and systems across the energy ecosystem
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), a global software leader dedicated to the energy industry, unveils its expanded global vision with the Quorum Energy Suite (QES), the company’s comprehensive portfolio of solutions that will serve as the foundation for innovation and growth.
Following last year’s merger between Quorum and Aucerna, and the acquisition of TietoEVRY’s Oil and Gas software business, Quorum has unified its 38 applications into a single portfolio.
The QES applications are distributed across nine functional areas of the industry from upstream planning, economics, and reserves through execution and well operations, accounting, land management, and production optimization, to midstream and measurement, plus transportation and cargo logistics. Product names remain intact and are defined with common language, enabling the market to understand how QES serves their business.
“The Quorum Energy Suite represents the broadest, deepest suite of applications and services in the market and brings immense capabilities to our customers by extending the value they have today,” said Tyson Greer, Chief Products Officer of Quorum Software.
QES will prioritize innovation by expanding the company’s renewables leadership, enabling LNG import and export operations, and delivering integrated workflows throughout the energy ecosystem, leveraging the cloud and other digital capabilities.
“Quorum is continuously delivering value to customers by providing decision-ready data, automation, and integrations that give them results today and a path to a connected future,” said Gene Austin, CEO of Quorum Software. “While our clients are competing for capital, energy, and talent, Quorum is there as a trusted partner providing deep, personalized expertise and leading technology to drive profitability and growth.”
To learn more, visit Quorum Software’s new website at quorumsoftware.com.
About Quorum Software
Quorum Software is a leading provider of energy software worldwide, serving more than 1,800 customers across the entire energy value chain in 55 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.
Lauren Force
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EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced its results for the second quarter, ended June 30, 2022, will be released on Thursday, August 4, 2022 after market close. At that time, a copy of the financial results release will be available on the Company’s website at https://oled.com/.
In conjunction with this release, Universal Display will host a conference call on Thursday, August 4, 2022, at 5:00 p.m. Eastern Time. The live webcast of the conference call can be accessed under the events page of the Company's Investor Relations website at ir.oled.com. Those wishing to participate in the live call should dial 1-877-524-8416 (toll-free) or 1-412-902-1028. Please dial in 5-10 minutes prior to the scheduled conference call time. An online archive of the webcast will be available within two hours of the conclusion of the call.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,500 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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Engineers developed new test stand that can be used to evaluate valves under high pressure with hydrogen
SAN ANTONIO--(BUSINESS WIRE)--#GasFlowTesting--Southwest Research Institute is testing the durability of valves on fuel tanks for hydrogen-powered vehicles. Hydrogen is increasingly being considered as an alternative to fossil fuels in the transportation sector. The work is being completed as part of an effort with the National Highway Traffic Safety Administration (NHTSA) to evaluate current testing standards for pressurized hydrogen tank valves.
In recent years, government and industry demands for hydrogen research have increased as industry searches for alternatives to burning fossil fuels, which contributes to climate change. SwRI is leading several multidisciplinary efforts to evaluate hydrogen as a potential fuel source for automobiles, power generation and even as a replacement for natural gas in homes.
“The advances in hydrogen-powered vehicles have led to an increased need for evaluating fuel tank components pressurized with hydrogen gas,” said SwRI Research Engineer Jacqueline Manders. “It’s necessary for our industry partners to ensure that these tanks and the associated components are safe and reliable prior to use on the road.”
Manders led the development of a new test stand at SwRI that will be used to perform pressure integrity testing on valves and flow components with hydrogen gas. The test stand is designed to achieve pressure as high as 20,000 psi, with temperature control capabilities ranging from -40 to 240 degrees Fahrenheit.
“We’re certainly expanding our component test capabilities at SwRI using hydrogen at these pressures and temperatures,” Manders said. “Testing with hydrogen is more challenging than with inert gases such as nitrogen or helium. It is imperative to understand the safety hazards associated with hydrogen to design our test stand and develop testing procedures.”
The purpose of the current test program is to evaluate and provide feedback on a series of tests for primary closure components on compressed hydrogen storage systems, as specified in a worldwide standard.
”There is also tremendous potential to use the test stand for future integrity testing on components for the hydrogen industry, improving component reliability,” Manders said. “With the increased demand for hydrogen research, it’s imperative that we evaluate current test procedures and ensure that these products are being qualified to an acceptable standard.”
The temperature and pressure extremes are meant to test the hydrogen valves beyond their expected operating range, conservatively qualifying them for use in vehicles in different climates all over the world.
The test stand is now in operation, allowing the Institute to test hydrogen valves for NHTSA as well as other clients.
For more information, visit https://www.swri.org/flow-component-testing/gas-flow-testing and https://www.swri.org/industry/advanced-power-systems/hydrogen-energy-research.
About SwRI:
SwRI is an independent, nonprofit, applied research and development organization based in San Antonio, Texas, with more than 3,000 employees and an annual research volume of nearly $726 million. Southwest Research Institute and SwRI are registered marks in the U.S. Patent and Trademark Office. For more information, please visit www.swri.org.
https://www.swri.org/press-release/swri-tests-durability-fuel-tank-valves-hydrogen-powered-vehicles
Joanna Quintanilla • (210) 522-2073 or This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today the closing of the previously announced Delaware Basin acquisitions of Sendero Midstream Partners LP (“Sendero”) for approximately $600 million in cash and First Reserve’s 50% interest in Crestwood Permian Basin Holdings LLC (“CPJV”) for 11.3 million Crestwood common units. Additionally, on July 1, 2022, Crestwood completed the previously announced divestiture of its Barnett Shale assets for $275 million in cash.
As a result of these strategic transactions, Crestwood has high graded its asset portfolio in the prolific Delaware Basin and has significantly expanded its operational footprint in Eddy County, New Mexico, one of the most active counties in the contiguous United States. Based on current producer activity levels, a planned integration of the Sendero and CPJV gathering systems, immediate operating, customer, and project synergies, and 550 MMcf/d of total processing capacity, Crestwood expects the Delaware Basin to become its second largest cash flow contributor, representing approximately 20% of total cash flow in 2023.
Changes to the Board of Directors
On July 1, 2022, Oasis Petroleum Inc. (“Oasis”), Crestwood’s largest customer in the Williston Basin, completed its merger with Whiting Petroleum Corporation (“Whiting”), forming Chord Energy Corporation (NASDAQ: CHRD) (“Chord”). The formation of Chord creates a financially strong unconventional U.S. oil producer focused on development in the Williston Basin.
Following the formation of Chord, Oasis has transferred to Chord its Crestwood common units and its contractual right to nominate two members to the Board of Directors of Crestwood’s general partner, Crestwood Equity GP, LLC (the “Board of Directors”), which right was received by Oasis as part of Crestwood’s acquisition of Oasis Midstream Partners LP and is subject to meeting on-going ownership thresholds.
As a result, the previously appointed members by Oasis to the Board of Directors, Mr. John Lancaster, Jr. and Mr. John Jacobi, resigned effective July 1, 2022. Chord has nominated Ms. Samantha F. Holroyd and Mr. Paul J. Korus to serve as their replacements. Crestwood expects that Ms. Holroyd and Mr. Korus will be formally appointed to the Board of Directors in the coming weeks.
Robert G. Phillips, Founder, Chairman and Chief Executive Officer of Crestwood, commented, “Crestwood would like to congratulate Oasis and Whiting on the successful formation of Chord. The combination creates a leading Williston Basin upstream company that shares our sustainability values focused on safety, operational and environmental integrity, and carbon management. I also want to thank Mr. Lancaster and Mr. Jacobi for their service and counsel and look forward to welcoming Ms. Holroyd and Mr. Korus to the Board of Directors and benefitting from their extensive industry experience and knowledge. The integration of Oasis Midstream, which began on February 1, 2022, is going well and the completion of the Chord merger is another important step in building a strategic alignment between Crestwood and Chord based on exceptional customer service as Chord develops the highly economic Williston Basin.”
Ms. Samantha F. Holroyd is a board member of Chord and was previously a member of the board of Oasis. She currently serves on Chord’s Audit Committee and Environmental, Social & Governance Committee. Ms. Holroyd currently serves on the board of Amerant Bancorp Inc., and she previously served on the board of Gulfport Energy Corporation from 2020–2021. Ms. Holroyd has a long history in the energy industry in the areas of reservoir engineering, technical analysis, financial and advisory services. She holds a Bachelor of Science degree in Petroleum Engineering from the Colorado School of Mines, holds FINRA Certifications (Series 79 and Series 63), and is a Registered Professional Engineer in the State of Texas. She is also a Certified Corporate Director by the National Association of Corporate Directors (NACD) and is NACD Certified in ESG.
Mr. Paul J. Korus is a board member of Chord and was formerly a director of Whiting. Mr. Korus serves on Chord’s Audit Committee and Environmental, Social and Governance Committee. Mr. Korus has more than 35 years of oil and gas industry experience and brings strong financial and accounting expertise. He began his oil and gas career in 1982 with Apache Corporation, where he held positions in corporate planning, information technology and investor relations. From 1999 to 2002, Mr. Korus was the Senior Vice President, Chief Financial Officer of Key Production Company. He held the same positions with Cimarex Energy Co. from 2002 until his retirement in 2015. Mr. Korus holds a Bachelor of Science degree in Economics and a Master of Science degree in Accounting from the University of North Dakota.
Following these changes, the Crestwood Board of Directors will consist of ten members of which 90% are independent, 40% are female representatives, and 50% have three or less years of tenure.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. The words “expects,” “believes,” “anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Crestwood believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statements will materialize. Important factors that could cause actual results to differ materially from those expressed in or implied from these forward-looking statements include the risks and uncertainties described in Crestwood’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made, and Crestwood assumes no obligation to update these forward-looking statements.
Crestwood Equity Partners LP
Investor Contact
Rhianna Disch, 713-380-3006
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Sustainability and Media Contact
Joanne Howard, 832-519-2211
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Upstart Power achieves key technical milestone with next-generation, solid oxide fuel cell generator, for on-demand operation in residential & small industrial backup applications
SOUTHBOROUGH, Mass.--(BUSINESS WIRE)--Upstart Power, a leading developer and manufacturer of solid oxide fuel cell (SOFC) power systems for backup power and distributed generation, announces that its latest SOFC systems have achieved a major technical milestone – delivering over 1,000 complete on/off cycles. This unique achievement by Upstart Power further validates that its innovative SOFC generator platform, protected by a robust patent portfolio, can deliver next-generation energy capabilities that are operationally valuable and superior to internal combustion generators.
Upstart has been pioneering the concept of high cycle SOFC systems specifically designed for intermittent operation, providing on-demand energy in collaboration with battery storage and solar power.
Using commonly available propane or natural gas, Upgen® SOFC generators provide critical backup or supplemental power when grid power is unavailable or renewable resources are insufficient. Other commercial SOFC systems are designed to be always on (unable to cycle) and, therefore, are not suitable as a power source for applications that require intermittent operation such as backup power or grid services.
‘Unlike traditional SOFC systems that need to operate continuously, our Upgen SOFC generators are specifically designed and optimized for intermittent, on-demand operation, starting in under 30 minutes and cycling off reliably when no longer required,’ said Nate Palumbo, Chief Technology Officer at Upstart Power. ‘Our rigorous and comprehensive testing protocols cover all key elements of the SOFC system including stack, reformer, ignition module, thermal management, and controls.’
Cleaner, safer, quieter, maintenance-free and significantly more efficient than legacy internal combustion engine generators, Upgen is the ideal complement to solar and battery storage in a home energy management system and ensures energy resilience and grid independence when the grid has failed (again!), the sun isn’t shining (enough!), and the batteries can’t keep up (with the home loads), said Georg Bettenhauser, VP of Business Development at Upstart Power. ‘For homeowners concerned with rising utility bills and increasingly frequent grid outages, solar and battery storage alone is like a four-foot blanket for a six-foot person ... during prolonged grid outages with insufficient sunshine, some part of your lifestyle is not going to be covered.’
Upgen systems are currently in phase 2 trials at several customer sites in North America. Upstart plans to commercially launch its next-generation Upgen NXG™ product in mid-2023 and to rapidly scale shipments through 2024 and beyond. In the coming quarters, Upstart will continue to expand its commercial network of go-to-market partners across the solar, battery storage, and backup generation markets – please click here if there is interest in becoming an Upstart partner. Upstart will also be kicking off a product pre-order campaign for end-users later this year – please watch our website and for details.
About Upstart Power, Inc.
Upstart Power designs and produces market disruptive solid oxide fuel cell (SOFC) generators for Residential and Industrial applications that are dependable, sustainable, carbon efficient, and virtually silent. The Upgen® products from Upstart Power work collaboratively with battery storage to cover for grid outages and solar shortfalls, providing 24-7-365, long-duration resiliency. Founded in late 2018, Upstart Power is a privately held company, funded by investors including TJ Rodgers, Enphase Energy and Sunnova Energy.
For more information, visit www.upstartpower.com
Upstart Power
Robyn Kennedy DeSocio
Investor Relations
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614.877.8278 ex. 124
DENVER--(BUSINESS WIRE)--Liberty Energy Inc., formerly known as Liberty Oilfield Services Inc. (NYSE: LBRT), announced today that it will release its financial results for the second quarter ending June 30, 2022 after the market closes on Monday, July 25, 2022. Following the release, the Company will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Tuesday, July 26, 2022. Presenting the Company’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President and Michael Stock, Chief Financial Officer.
Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 8163181. The replay will be available until August 2, 2022.
About Liberty
Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
Michael Stock
Chief Financial Officer
303-515-2851
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