SAN RAMON, Calif. & SARATOGA SPRINGS, N.Y. & HOUSTON--(BUSINESS WIRE)--Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today that it closed its previously announced acquisition of an equity interest in American Natural Gas LLC and its network of 60 compressed natural gas stations across the United States from Mercuria Energy Trading.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.
About Mercuria
Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world. As an integrated group, Mercuria is present all along the commodity value chain with activities forming a balanced combination of trading flows, strategic assets and structuring solutions. With more than USD 100 billion in turnover, Mercuria has become one of the most active players in the energy and renewables markets. Over the next five years, the company will direct half of its investment towards the energy transition. For more information, visit www.mercuria.com.
Tyler Kruzich, Chevron
External Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
t. (925) 549-8686
Matthew Lauer, Mercuria
Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
t. (703) 463-1841
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#cleanenergy--Ameresco, Inc. (NYSE:AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that members of its management team will attend the following investor conference:
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
Media Contacts:
Ameresco: Leila Dillon, 508.661.2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations: Eric Prouty, AdvisIRy Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Lynn Morgen, AdvisIRy Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Reduction in Over $230 Million in Debt and Infusion of $45 Million in New Capital Positions Company for Long-Term Business Growth and Development
DALLAS--(BUSINESS WIRE)--Glass Mountain Pipeline Holdings LLC (the “Company” or “Glass Mountain”) announced today that, with the support of its equity sponsor GEPIF Glass Mountain Pipeline LLC (the “Sponsor”) and lenders holding 66.97% of the Company’s revolving and term loans (the “Consenting Lenders”), it has entered into a Restructuring Support Agreement (the “RSA”) that provides for the elimination of over $230 million in debt from the Company’s balance sheet and a $45 million investment from the Sponsor. Pursuant to the RSA, lenders will receive their pro rata share of (i) a $69,177,939.86 first lien term loan facility (the “New Term Loan Facility”) issued by a new borrower entity (the “New Borrower”) that will be the direct parent of Glass Mountain and Navigator Panhandle HoldCo LLC, and (ii) a cash payment of $44,038,698.89. The New Term Loan Facility will be secured by the collateral for the existing loans and a first-priority pledge of the equity interests of the New Borrower, its direct subsidiaries, and each guarantor.
The Company and its advisors continue to work with the Company’s lenders to gain 100% support of the transaction such that the RSA can be effectuated on an out-of-court basis in October 2021. To the extent that threshold cannot be achieved, the parties to the RSA have already agreed to a prepackaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code. While the Company hopes to receive the support of 100% of its lenders, the Company anticipates that the chapter 11 plan, pursuant to which all general unsecured claims would be unimpaired and paid in full, would be confirmed and consummated quickly and efficiently. The Company does not anticipate any change in its day-to-day operations or the services it provides to its customers throughout this process.
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Gray Reed & McGraw LLP are serving as legal counsel to the Company and PJT Partners LP is serving as the Company’s investment banker.
About Glass Mountain
Glass Mountain owns and operates a fully integrated pipeline system in the Anadarko region of Oklahoma and provides oil producers with comprehensive services, including crude oil gathering, transportation, and storage. Glass Mountain is headquartered in Dallas, Texas.
Forward-Looking Statements
Statements contained in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, are forward-looking statements made in good faith that are subject to risks, uncertainties, and assumptions. These forward-looking statements are based on our current beliefs, intentions, and expectations. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events, or performance are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions, and uncertainties, which could cause actual results to differ materially from those expressed in these forward-looking statements. Our actual results, performance, or achievements could differ materially from those we express in the foregoing discussion as a result of a variety of factors, including general economic and business conditions and industry trends, levels and volatility of oil and gas prices, the continued demand for drilling services or production services in the geographic areas where we operate, the competitive nature of our business, technological advancements and trends in our industry, the loss of one or more of our major clients or a decrease in their demand for our services, future compliance with covenants under debt agreements, the continued availability of qualified personnel, the occurrence of cybersecurity incidents, the political, economic, regulatory, and other uncertainties encountered by our operations, and changes in, or our failure or inability to comply with, governmental regulations. These factors are not necessarily all the important factors that could affect us. Other unpredictable or unknown factors could also have material adverse effects on actual results of matters that are the subject of our forward-looking statements. All forward-looking statements speak only as of the date on which they are made and we undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise. We advise readers that they should recognize that important factors not referred to above could affect the accuracy of our forward-looking statements and use caution and common sense when considering our forward-looking statements.
For Media Inquiries
Meredith Howard
(210) 737-4478
This email address is being protected from spambots. You need JavaScript enabled to view it.
SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) today announced that Balu Balakrishnan, the company’s CEO, will participate in an online panel discussion during the upcoming Stifel ESG and Impact Summit. The panel will take place on October 4 at noon Eastern time. A live webcast of the event will be available via the investor page of the company’s website, investors.power.com.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power-conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.
Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.
Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
This email address is being protected from spambots. You need JavaScript enabled to view it.
Expro to Begin Trading on NYSE Under Symbol “XPRO” on October 4, 2021
HOUSTON--(BUSINESS WIRE)--Expro Group, an international energy services company with market leadership in well access and well flow optimization, today announced it has completed its previously announced merger with Frank’s International N.V. (NYSE: FI), a global oil services company offering a broad range of highly engineered drilling and completions solutions and services.
The combined company has assumed the Expro Group Holdings N.V. name and will begin trading on the New York Stock Exchange on October 4, 2021 under the ticker symbol “XPRO.” In connection with the close of the transaction, Frank’s common stock ceased trading on the New York Stock Exchange under the ticker symbol “FI” as of the close of trading on October 1, 2021.
“This is an exciting day for Expro and Frank’s as we bring our companies together to create a new global leader with the breadth of capabilities and expertise across the well lifecycle to better support customers,” said Mike Jardon, Chief Executive Officer of Expro. “I would like to thank everyone at Expro and Frank’s for their great work in completing the transaction, planning for a successful integration, and positioning the combined company for long-term success. This is where the talented teams come together and we look forward to continuing to deliver cost-effective, innovative technologies and solutions, and best-in-class safety and service quality performance to our customers, all while advancing our commitment to creating a more sustainable business and lower carbon future. With our broad portfolio of services and solutions, enhanced scale, global operating footprint and strong, debt-free balance sheet, Expro is well positioned for an expected industry recovery and is well positioned to deliver compelling value for shareholders.”
Expro presents an attractive investment opportunity due to its:
Proven Leadership Team
Expro is governed by an experienced Board of Directors led by Mike Kearney as Board Chairman. Mr. Kearney is the former Chairman, President and CEO of Frank’s. Also serving on Expro’s nine-member Board is Mike Jardon, Expro CEO, and a diverse group of leaders with significant expertise and experience, including:
The Company also has a proven management team led by Mr. Jardon as Chief Executive Officer. Other members of the executive management team include:
ABOUT EXPRO
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.
Founded in 1938, Expro has more than 6,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
Forward-Looking Statements and Disclaimer
This release contains 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, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company 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 release include statements, estimates and projections regarding the Company’s future business strategy and prospects for growth, cash flows and liquidity, financial strategy, budget, projections and operating results. These statements are based on certain assumptions made by the Company based on management’s experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Such assumptions, risks and uncertainties include the outcome and results of the integration process associated with the Company’s recent merger, the amount, nature and timing of capital expenditures, the availability and terms of capital, the level of activity in the oil and gas industry, volatility of oil and gas prices, unique risks associated with offshore operations, political, economic and regulatory uncertainties in international operations, the ability to develop new technologies and products, the ability to protect intellectual property rights, the ability to employ and retain skilled and qualified workers, the level of competition in the Company’s industry, global or national health concerns, including health epidemics, including COVID-19 and any variants thereof, the possibility of a swift and material decline in global crude oil demand and crude oil prices for an uncertain period of time, the length of time it will take for the United States and the rest of the world to slow the spread of the COVID-19 virus to the point where applicable authorities are comfortable easing current restrictions on various commercial and economic activities, future actions of foreign oil producers such as Saudi Arabia and Russia, the timing, pace and extent of an economic recovery in the United States and elsewhere, the impact of current and future laws, rulings, governmental regulations, accounting standards and statements, and related interpretations, and other guidance. Such assumptions, risks and uncertainties also include the factors discussed or referenced in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and the Company’s proxy statement/prospectus dated August 5, 2021, in each case filed with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.
Investors:
Karen David-Green
+1 281-994-1056
Media:
Hannah Rumbles
+44 1224-796729
BOSTON--(BUSINESS WIRE)--GE (NYSE: GE) today announced that it received notice of an unsolicited "mini-tender" offer by TRC Capital Investment Corporation (TRC Capital) to purchase up to 1,000,000 shares of GE common stock, which represents approximately 0.09% of the shares outstanding, at a price of $99.00 per share in cash. TRC Capital’s offer price is 4.62% less than the $103.80 closing price per share of GE’s common stock on September 24, 2021, the last trading day before the mini-tender offer commenced.
GE does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that GE shareholders do not tender their shares in the offer because the offer is at a price below the current market price for GE’s shares.
TRC Capital has included in the terms of its offer a condition that the closing price of GE’s shares must not decrease. As a result, unless TRC Capital decides to waive this condition, GE shareholders who tender their shares in the offer would receive a below-market price for GE’s shares through the tender offer. The offer is also subject to numerous conditions, including TRC’s ability to obtain sufficient financing to consummate the offer.
Shareholders should obtain current market quotations for their shares, consult with their broker or financial advisor, and exercise caution with respect to TRC Capital’s mini-tender offer. GE recommends that shareholders who have not responded to TRC Capital’s offer take no action. Shareholders who have already tendered their shares may withdraw them at any time prior to 12:01 a.m. New York City time, on October 26, 2021, according to TRC Capital’s offering documents.
Mini-tender offers seek to acquire less than five percent of a company's outstanding shares. Consequently, they can avoid many disclosure and procedural requirements of U.S. Securities and Exchange Commission (SEC) rules that apply to offers for more than 5 percent of a company's outstanding shares.
The SEC has cautioned investors about mini-tender offers, stating that mini-tender offers “have been increasingly used to catch investors off guard,” and that investors “may end up selling their securities at below-market prices.” The SEC's guidance to investors on mini-tender offers is available at https://www.sec.gov/reportspubs/investor-publications/investorpubsminitendhtm.html.
GE encourages brokers and dealers, as well as other market participants, to review the SEC's letter regarding broker-dealer mini-tender offer dissemination and disclosure available at https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
GE requests that a copy of this news release be included with all distributions of materials relating to TRC Capital’s mini-tender offer for shares of GE's common stock.
About GE
GE (NYSE:GE) rises to the challenge of building a world that works. For more than 125 years, GE has invented the future of industry, and today the company’s dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. GE’s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE’s mission and deliver for its customers. www.ge.com
GE Investors
Steve Winoker
617.443.3400
This email address is being protected from spambots. You need JavaScript enabled to view it.
GE Media
Mary Kate Mullaney
202.304.6514
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) has closed its previously announced acquisition of certain assets of Basic Energy Services, Inc. and its subsidiaries through its controlled subsidiary Ranger Energy Acquisition, LLC. The assets were sold by Basic as part of its bankruptcy process. The agreement to purchase the assets was approved by the United States Bankruptcy Court on September 23, 2021. The purchase price of approximately $36.65 million was paid with proceeds from the private placement described below.
Stuart Bodden, President and Chief Executive Officer of Ranger stated, “We are pleased with the purchase price of the Basic assets, and we look forward to welcoming a number of Basic personnel into the Ranger family. In addition to assets, this transaction gives Ranger access to many talented field personnel and managers that worked at Basic. I would also like to thank the Ranger team for their tireless work over the last two weeks to lay the groundwork for what I know will be a successful integration as we continue to build value for our stockholders.”
As previously announced, in connection with the acquisition, the Company’s controlled subsidiary RNGR Energy Services, LLC entered into a credit facility on September 27, 2021 with Eclipse Business Capital LLC as the sole administrator and collateral agent and Eclipse Business Capital SPV, LLC as the sole lender, for a new $77.5 million credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility.
Concurrent with the close of the acquisition, the Company also closed its previously announced private placement of $42 million of shares of its newly issued Series A Convertible Preferred Stock to certain accredited investors.
In addition, concurrent with the close of the acquisition, Ranger LLC and the Company completed the previously announced redemption of the outstanding units of Ranger LLC and of corresponding shares of Class B Common Stock of the Company held by affiliates of CSL Capital Management, L.P. and Bayou Well Holdings Company, LLC for an equivalent number of shares of Class A Common Stock of the Company. Following the redemptions, no shares of Class B Common Stock of the Company are issued and outstanding.
Conference Call
The Company will host a conference call to discuss the acquisition on October 4 at 10:30 a.m. Central Time (11:30 a.m. Eastern Time). To join the conference call from within the United States, participants may dial 1-833-255-2829. To join the conference call outside of the United States, participants may dial 1-412-902-6710. When instructed, please ask the operator to join the Ranger Energy Services, Inc. call. Participants are encouraged to login to the webcast or dial in to the conference call approximately ten minutes prior to the start time. The Company will make a presentation available before the start of the conference call. To view the presentation or listen via live webcast, please visit the Investor Center section of the Company’s website, http://www.rangerenergy.com.
An audio replay of the conference call will be available shortly after the conclusion of the call and will remain available for approximately seven days. It can be accessed by dialing 1-877-344-7529 within the United States or 1-412-317-0088 outside of the United States. The conference call replay access code is 10160762. The replay will also be available in the Investor Center section of the Company’s website shortly after the conclusion of the call and will remain available for approximately seven days.
Advisors
Piper Sandler is serving as exclusive financial advisor to the Company with respect to the Basic asset acquisition and sole placement agent with respect to the debt financing and private placement of Preferred Stock. Winston & Strawn LLP is serving as legal counsel to the Company.
About Ranger Energy Services, Inc.
Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Ranger also provides services necessary to bring and maintain a well on production. The Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, Natural Gas Liquid stabilizer and storage units and related equipment.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “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. These forward-looking statements represent Ranger’s expectations or beliefs concerning future events and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ranger’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ranger does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Ranger to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our filings with the Securities and Exchange Commission. The risk factors and other factors noted in Ranger’s filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement.
J. Brandon Blossman
Chief Financial Officer
(713) 935-8900
This email address is being protected from spambots. You need JavaScript enabled to view it.
Homebuilder’s latest community offers personalized, new homes in a desirable Riverside County location, priced from the $530,000s
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--KB Home (NYSE: KBH) today announced the grand opening of Crimson Hills, a new single-family home community in desirable Lake Elsinore, California. The new community is conveniently located near the Central Avenue/Highway 74 exit, just east of Interstate 15, providing easy access to Riverside County’s major employment centers. Crimson Hills is just minutes away from a wide variety of outdoor activities at Lake Elsinore, including boating, fishing and other water recreation. The community is walking distance to Rosetta Canyon Sports Park, which offers a soccer/football field, children’s playground, dog park, five tournament-caliber ball fields, tennis courts, walking and running trails and picnic areas with BBQs. Crimson Hills is also close to popular shopping, dining and entertainment in downtown Lake Elsinore and at Lake Elsinore Marketplace.
The homes at Crimson Hills showcase popular design characteristics like gourmet kitchens overlooking expansive great rooms, bedroom suites with walk-in closets, and ample storage space. The community’s floor plans feature up to six bedrooms and three baths, and range in size from approximately 1,500 to 2,800 square feet. Crimson Hills is also situated in the Lake Elsinore Unified School District and walking distance to Earl Warren Elementary School.
“Crimson Hills is conveniently located near Interstate 15, which offers easy access to Riverside County’s major employment centers. The community is also just minutes away from schools, shopping, dining and entertainment as well as outdoor recreation,” said John Fenn, President of KB Home’s Inland Empire division. “As with other KB Home communities, Crimson Hills provides home shoppers with the opportunity to purchase a new KB home that can be personalized to reflect their lifestyle and needs.”
KB Home stands out from other homebuilders as the company gives homebuyers exceptional choice and control. KB Home starts by offering a wide variety of homes at an affordable price. From there, the builder gives buyers the ability to personalize their homes from floor plans to exterior elevations, from design options to where they live in the community. The KB Home team works hand in hand with homeowners every step of the way so they have a real partner in the process.
Every KB home is designed to be ENERGY STAR® certified thanks to the quality construction techniques and materials utilized that ultimately deliver significant savings on utility bills compared to used homes. Additionally, all new KB homes are designed to deliver an enhanced indoor environment and include high performance ventilation systems, low- or zero-VOC products and other features guided by the Environmental Protection Agency’s (EPA) Indoor airPLUS standards.
The Crimson Hills sales office and model homes are open for private in-person tours by appointment, and walk-in visits are welcome. Homebuyers also have the flexibility to arrange a live video tour with a sales counselor. Pricing begins from the $530,000s.
For more information on KB Home, call 888-KB-HOMES or visit kbhome.com.
About KB Home
KB Home is one of the largest and most recognized homebuilders in the United States and has built over 650,000 quality homes in our more than 60-year history. Today, KB Home operates in 45 markets from coast to coast. What sets KB Home apart is the exceptional personalization we offer our homebuyers—from those buying their first home to experienced buyers—allowing them to make their home uniquely their own, at a price that fits their budget. As the leader in energy-efficient homebuilding, KB Home was the first builder to make every home it builds ENERGY STAR® certified, a standard of energy performance achieved by fewer than 10% of new homes in America and has built more ENERGY STAR certified homes than any other builder. An energy-efficient KB home helps lower the cost of ownership and is designed to be healthier, more comfortable and better for the environment than new homes without certification. We build strong, personal relationships with our customers, so they have a real partner in the homebuying process. As a result, we have the distinction of being the #1 customer-ranked national homebuilder in third-party buyer satisfaction surveys. Learn more about how we build homes built on relationships by visiting kbhome.com.
Craig LeMessurier, KB Home
321-299-6844
This email address is being protected from spambots. You need JavaScript enabled to view it.
OVERLAND PARK, Kan.--(BUSINESS WIRE)--TortoiseEcofin today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP, TPZ and TEAF.
Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of September 30, 2021, the company’s unaudited total assets were approximately $565.7 million and its unaudited net asset value was $410.3 million, or $34.40 per share.
As of September 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 508 percent, and its coverage ratio for preferred shares was 392 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at September 30, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$511.3 |
$42.87 |
|
Cash and Cash Equivalents |
1.1 |
0.09 |
|
Income Tax Receivable |
52.1 |
4.36 |
|
Other Assets |
1.2 |
0.11 |
|
Total Assets |
565.7 |
47.43 |
|
Short-Term Borrowings |
24.5 |
2.06 |
|
Senior Notes |
83.9 |
7.03 |
|
Preferred Stock |
32.3 |
2.71 |
|
Total Leverage |
140.7 |
11.80 |
|
Other Liabilities |
3.2 |
0.27 |
|
Current Tax Liability |
11.5 |
0.96 |
|
|
|
|
|
Net Assets |
$ 410.3 |
$ 34.40 |
11.93 million common shares currently outstanding.
Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today announced that as of September 30, 2021, the company’s unaudited total assets were approximately $274.2 million and its unaudited net asset value was $209.8 million, or $37.18 per share.
As of September 30 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 540 percent, and its coverage ratio for preferred shares was 435 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at September 30, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 273.2 |
$ 48.42 |
|
Cash and Cash Equivalents |
0.4 |
0.07 |
|
Other Assets |
0.6 |
0.10 |
|
Total Assets |
274.2 |
48.59 |
|
|
|
|
|
Short-Term Borrowings |
43.3 |
7.67 |
|
Senior Notes |
7.2 |
1.27 |
|
Preferred Stock |
12.2 |
2.17 |
|
Total Leverage |
62.7 |
11.11 |
|
|
|
|
|
Other Liability |
1.3 |
0.23 |
|
Current Tax Liability |
0.4 |
0.07 |
|
|
|
|
|
Net Assets |
$ 209.8 |
$ 37.18 |
5.64 million common shares currently outstanding.
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of September 30, 2021, the company’s unaudited total assets were approximately $85.7 million and its unaudited net asset value was $64.5 million, or $28.97 per share.
As of September 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 589 percent, and its coverage ratio for preferred shares was 414 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at September 30, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 83.6 |
$ 37.51 |
|
Cash and Cash Equivalents |
1.8 |
0.82 |
|
Other Assets |
0.3 |
0.15 |
|
Total Assets |
85.7 |
38.48 |
|
|
|
|
|
Senior Notes |
14.5 |
6.49 |
|
Preferred Stock |
6.1 |
2.74 |
|
Total Leverage |
20.6 |
9.23 |
|
|
|
|
|
Other Liabilities |
0.6 |
0.28 |
|
Net Assets |
$ 64.5 |
$ 28.97 |
2.23 million common shares currently outstanding.
TTP has completed its share repurchases under the publicly announced repurchase plan allowing up to $5.0 million through August 31, 2021. Under the program, TTP has repurchased 276,331 shares of its common stock at an average price of $18.078 and an average discount to NAV of 20.7%.
Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today announced that as of September 30, 2021, the company’s unaudited total assets were approximately $48.5 million and its unaudited net asset value was $45.1 million, or $24.44 per share.
As of September 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,555 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at September 30, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 48.0 |
$ 25.99 |
|
Cash and Cash Equivalents |
0.4 |
0.23 |
|
Other Assets |
0.1 |
0.06 |
|
Total Assets |
48.5 |
26.28 |
|
Credit Facility Borrowings |
3.1 |
1.68 |
|
|
|
|
|
Other Liabilities |
0.3 |
0.16 |
|
Net Assets |
$ 45.1 |
$ 24.44 |
1.85 million common shares currently outstanding.
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of September 30, 2021, the company’s unaudited total assets were approximately $125.9 million and its unaudited net asset value was $101.3 million, or $15.53 per share.
As of September 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 522 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at September 30, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 124.1 |
$ 19.01 |
|
Cash and Cash Equivalents |
0.9 |
0.14 |
|
Other Assets |
0.9 |
0.13 |
|
Total Assets |
125.9 |
19.28 |
|
|
|
|
|
Credit Facility Borrowings |
24.0 |
3.68 |
|
|
|
|
|
Other Liabilities |
0.6 |
0.07 |
|
Net Assets |
$ 101.3 |
$ 15.43 |
6.53 million common shares currently outstanding.
TPZ has completed its share repurchases under the publicly announced repurchase plan allowing up to $5.0 million through August 31, 2021. Under the program, TPZ has repurchased 424,834 shares of its common stock at an average price of $11.749 and an average discount to NAV of 18.7%.
Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) today announced that as of September 30, 2021, the company’s unaudited total assets were approximately $259.4 million and its unaudited net asset value was $231.9 million, or $17.19 per share.
As of September 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,039 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at September 30, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 254.1 |
$ 18.84 |
|
Cash and Cash Equivalents |
0.7 |
0.05 |
|
Other Assets |
4.6 |
0.33 |
|
Total Assets |
259.4 |
19.22 |
|
|
|
|
|
Credit Facility Borrowings |
24.7 |
1.83 |
|
|
|
|
|
Other Liabilities |
2.8 |
0.20 |
|
Net Assets |
$231.9 |
$17.19 |
13.49 million common shares outstanding.
The top 10 holdings for TYG, NTG, TTP, NDP, TPZ and TEAF as of the most recent month-end can be found on each fund’s portfolio web page at https://cef.tortoiseecofin.com.
About TortoiseEcofin
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior living. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. For additional information, please visit www.TortoiseEcofin.com.
Tortoise Capital Advisors, L.L.C. (also dba TCA Advisors) (“TCA”) is the Adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., Tortoise Power and Energy Infrastructure Fund, Inc. and Ecofin Sustainable and Social Impact Term Fund. Ecofin Advisors Limited is a sub-adviser to Ecofin Sustainable and Social Impact Term Fund.
For additional information on these funds, please visit cef.tortoiseecofin.com.
Safe harbor statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may include “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. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and TCA do not assume a duty to update this forward-looking statement.
Maggie Zastrow, (913) 981-1020
This email address is being protected from spambots. You need JavaScript enabled to view it.
COLUMBUS, Ind.--(BUSINESS WIRE)--Headline of release should read: Cummins Encourages Congress to Pass Reconciliation Bill to Combat Climate Change and Invest in a Decarbonized Future (instead of Cummins Encourages Congress to Pass 265800 Bill to Combat Climate Change and Invest in a Decarbonized Future).
The updated release reads:
CUMMINS ENCOURAGES CONGRESS TO PASS RECONCILIATION BILL TO COMBAT CLIMATE CHANGE AND INVEST IN A DECARBONIZED FUTURE
Cummins Inc. (NYSE: CMI) today announced its support for the climate change provisions of the reconciliation bill and encourages Congress to pass the legislation. The path to a decarbonized and sustainable future requires the engagement of everyone – government, businesses of all sizes, as well as communities and individuals.
“The decarbonization investments in the reconciliation bill are critical to accelerating the adoption of innovations that can reduce emissions across the United States and set us on a path to a more sustainable future,” said Tom Linebarger, Chairman and CEO, Cummins Inc.
“Cummins is committing our investment dollars, our global technical resources and our own future to combat climate change and reach zero emissions and decarbonization,” added Linebarger. “Passage of these provisions in the reconciliation bill would make it clear that the U.S. government is also committed to addressing this threat to our country and our planet. Our mission of making people’s lives better by powering a more prosperous world requires a healthier planet, and government and business must work together to address the existential threat of climate change.”
Government investment and incentives in new technologies and the infrastructure necessary to use them are imperative to make the transitions to clean and renewable energies economically viable. Forging a path to zero emissions will strengthen American competitiveness and create good jobs that last while providing cleaner air for all. Cummins specifically supports provisions in the bill for clean commercial vehicle deployment, the infrastructure buildout for battery charging and hydrogen fueling stations, as well as the decarbonization and modernization of the nation’s grid.
“Our industries can transition our commercial vehicle fleets to zero emissions technologies, but without clean electricity, green hydrogen and low carbon fuels, emissions will just be moved - not eradicated. We must address emissions holistically and work collaboratively across all sectors to achieve our goals. The updates to the energy tax code, including the new clean hydrogen production tax credit and clean commercial vehicle and infrastructure tax credits can allow our industry partners to adopt clean technologies that would otherwise be too costly. This will enable us to bring new, efficient and clean products to markets much more rapidly. We are encouraged by discussions of a carbon tax to embed the true cost of carbon throughout the U.S. economy, and to make the transitions to clean energies possible.”
Linebarger also commented on tax increases, “Equally as important is that corporations must be able to continue to be successful for American working families. The current revenue raising provisions in the reconciliation bill place a tax burden on U.S. headquartered companies that will make them uncompetitive and cost jobs. Our corporations need to be in the best position to continue to drive job creation, economic growth and recruit top talent. For U.S. communities to thrive – both large and small – our companies need to be on equal footing with our global partners and we have to have tax policies in place that allow for this."
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 57,825 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 $1.8 billion on sales of $19.8 billion in 2020. 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.
Jon Mills, Cummins Inc.
317-658-4540
This email address is being protected from spambots. You need JavaScript enabled to view it.
VELIZY-VILLACOUBLAY, France--(BUSINESS WIRE)--#3DEXPERIENCE--Dassault Systèmes (Paris:DSY) (Euronext Paris: FR0014003TT8, DSY.PA) today announced that the construction phase of Meyer Werft’s first luxury passenger ship designed with the 3DEXPERIENCE platform as well as the engineering phase of its sister ship are underway. Meyer Werft, one of the world’s leading cruise ship builders and a long-term Dassault Systèmes customer, extended and expanded its use of the 3DEXPERIENCE platform to increase design efficiency and shorten construction time on this and future customer projects.
The luxury ship, with an expected delivery in 2022, will have a volume of 144,000 gross register tonnage, a capacity for 1,250 passenger cabins, and run on environmentally friendly liquefied natural gas. The efficient design and delivery of such state-of-the-art ships is crucial in a competitive marketplace.
Meyer Werft set an objective to efficiently design and deliver in time the most innovative cruise ships. To achieve this, the company expanded its engineering, product lifecycle management, automated production deliverables, and manufacturing user capabilities with the “Designed for Sea” and “Optimized Production for Sea” industry solution experiences based on the 3DEXPERIENCE platform.
In addition, the 3DEXPERIENCE platform’s openness allows Meyer Werft to integrate project data generated by legacy digital design tools at its sites and its suppliers. This supports a smooth and gradual transition to a unified and integrated business experience platform.
“Extending our use of the 3DEXPERIENCE platform is part of our ambition to more efficiently design and build innovative cruise ships,” said Dr. Paul Meyer, CIO, Meyer Werft. “We aim to unify tools and processes across our sites. As we are in the construction phase for our first ship designed with the 3DEXPERIENCE platform, our partnership with Dassault Systèmes continues to strengthen to achieve this.”
“The 3DEXPERIENCE platform is the only platform that enables industry leaders like Meyer Werft to transform their industrial business and deliver new customer experiences,” said François-Xavier Dumez, Vice President, Marine & Offshore Industry, Dassault Systèmes. “The platform has already been at the core of many innovative designs, as shipbuilders can avoid manufacturing errors, rework or delays downstream. Together with Meyer Werft we are creating the next generation of shipbuilding solutions to deliver long-term value.”
Social media:
Share this on Twitter: #MeyerWerft engineers and now builds its first luxury passenger ship designed entirely with #3DEXPERIENCE @Dassault3DS
Connect with Dassault Systèmes on Twitter Facebook LinkedIn YouTube
For more information:
Dassault Systèmes’ industry solution experiences for the Marine & Offshore industry: https://ifwe.3ds.com/marine-offshore
Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com
###
About Dassault Systèmes
Dassault Systèmes, the 3DEXPERIENCE Company, is a catalyst for human progress. We provide business and people with collaborative 3D virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers push the boundaries of innovation, learning and production. Dassault Systèmes brings value to more than 290,000 customers of all sizes, in all industries, in more than 140 countries. For more information, visit www.3ds.com
3DEXPERIENCE, the Compass icon, the 3DS logo, CATIA, BIOVIA, GEOVIA, SOLIDWORKS, 3DVIA, ENOVIA, NETVIBES, MEDIDATA, CENTRIC PLM, 3DEXCITE, SIMULIA, DELMIA, and IFWE are commercial trademarks or registered trademarks of Dassault Systèmes, a French “société européenne” (Versailles Commercial Register # B 322 306 440), or its subsidiaries in the United States and/or other countries.
Dassault Systèmes Press Contacts
Corporate / France
Arnaud MALHERBE
This email address is being protected from spambots. You need JavaScript enabled to view it.
+33 (0)1 61 62 87 73
North America
Suzanne MORAN
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (781) 810 3774
EMEAR
Virginie BLINDENBERG
This email address is being protected from spambots. You need JavaScript enabled to view it.
+33 (0) 1 61 62 84 21
China
Grace MU
This email address is being protected from spambots. You need JavaScript enabled to view it.
+86 10 6536 2288
India
Santanu BHATTACHARYA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+91 9717972875
Japan
Yukiko SATO
This email address is being protected from spambots. You need JavaScript enabled to view it.
+81 3 4321 3841
Korea
Jeemin JEONG
This email address is being protected from spambots. You need JavaScript enabled to view it.
+82 2 3271 6653
AP South
Pallavi MISRA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+65 90221874
HOUSTON & FORNEBU, Norway--(BUSINESS WIRE)--The merger of Baker Hughes’ (NYSE: BKR) Subsea Drilling Systems business (SDS) and Akastor ASA’s (Oslo: AKAST) wholly-owned subsidiary, MHWirth AS (MHWirth), has been completed to form a global offshore drilling equipment company. The new company will be known as HMH (“the Company”), and as previously announced, Baker Hughes and Akastor own equal equity in the Company.
HMH combines integrated delivery capabilities, capital, renowned industry expertise and delivers the full range of offshore drilling equipment products and packages at scale. HMH aims to support the industry’s transition toward more energy-efficient solutions, as well as deploying technologies and service solutions to make the sector more competitive through increased drilling efficiency. Moreover, the Company’s service and technology portfolio will be utilized as a springboard for future growth, both within drilling services and when pursuing opportunities towards adjacent industries such as renewables and mining.
“This is a very exciting transaction for the industry, our customers, shareholders and employees. We are combining two of the best-known equipment manufactures in our industry to create HMH, building on a best-in-class portfolio and unparalleled full-service approach,” commented Merrill A. “Pete” Miller, the Chairman and CEO of HMH. Mr. Miller went on to say that “at a time of worldwide energy transition, HMH has the expertise to help the entire industry move towards more energy-efficient drilling and other sustainable energy solutions.”
The Company is headquartered in Amsterdam, Netherlands with its two major operational centers in Houston, USA and Kristiansand, Norway. HMH is currently a privately owned company and is effective from October 1, 2021.
For more information on HMH, visit our website at hmhw.com.
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About Akastor
Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation. Visit us at akastor.com.
For more information, please contact:
HMH Media Relations
John Stout and Anita Karlsen
This email address is being protected from spambots. You need JavaScript enabled to view it.
Baker Hughes Investor Relations
Jud Bailey
+1 281-809-9088
This email address is being protected from spambots. You need JavaScript enabled to view it.
Akastor Investor Relations
Øyvind Paaske
Chief Financial Officer
+47 917 59 705
This email address is being protected from spambots. You need JavaScript enabled to view it.
CHELTENHAM, England--(BUSINESS WIRE)--#Aerospace--Ontic has completed the sale and licensing of certain legacy product lines from Triumph Group’s Staverton facility in the UK. The transaction includes the existing facility and select product lines associated with the site.
The Staverton facility in Gloucestershire supports a range of platforms in the Military, Civil and Marine Markets including the Airbus A330, BAE Hawk and Tornado, as well as the weapon handling systems on a variety of submarines.
This acquisition expands Ontic’s capacity in the UK following the successful growth of its existing facility in Cheltenham.
Gareth Hall, President and CEO of Ontic, said, “Ontic is excited at the opportunity to grow our UK presence with the purchase of the Staverton facility as part of our long-term strategy to expand the licensing solutions we are able to provide our partners across the industry. Not only will we be growing our business footprint with space, equipment, and product lines, but we will be welcoming 90+ talented new employees to the Ontic family, with expertise in mechanical solutions.”
Ontic maintains a global focus by supporting customers and licencing partners from manufacturing and MRO facilities in Chatsworth, California; Creedmoor, North Carolina; Plainview, New York; Cheltenham and Bolton in the United Kingdom, Singapore, and newly added Staverton.
About Ontic:
With over 47 years of aerospace product manufacturing and aftermarket support experience, Ontic provides FAA, CAAS, CAAC, TCCA, DCA, EASA Part 21 and 145 OEM support, including new and serviceable spares and repairs for over 7,000 established aircraft parts. Ontic’s portfolio of products, licensed or acquired from major OEMs such as Honeywell, Collins Aerospace, Safran, Thales and GE Aviation, span all major aircraft systems in both civil and military markets.
For more information, please visit www.ontic.com.
Susan Carpenter, Marketing Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
D.C. Department of Transportation to implement new shared scooter ordinance
WASHINGTON--(BUSINESS WIRE)--#Helbiz--Helbiz Inc. (NASDAQ: HLBZ), a global leader in micro-mobility and the first in its industry to be publicly listed on Nasdaq, today announced it will retrofit its fleet of e-scooters with lock-to technology to meet the new regulations required by Washington D.C. The legislation will go into effect on October 1st with the intention to reduce e-scooter clutter on sidewalks and streets. Helbiz will initially roll out the integration in Washington D.C., with plans to expand into other markets that adopt similar requirements.
The lock-to mechanism will be integrated into Helbiz e-scooters, designed to secure parked devices to bicycle racks, signposts or other infrastructure throughout the city. Once each ride is completed, the Helbiz App will activate lock-to and ask users to take a photo of the device to confirm it was parked and locked properly. The D.C. Department of Transportation (DDOT) plans to increase the number of bike racks in order to accommodate the new ordinance, which also requires e-scooters to be parked and locked with at least 3 feet of pedestrian walkways left unobstructed, and that entrances to private property, driveways, or handicap accessible ramps and parking spots are not blocked. By monitoring the location of each parked e-scooter, the new regulation will ensure devices are available in all areas of the city.
“Since our first deployment of shared electric vehicles in Washington D.C. in 2019, we have worked to provide safe, alternative mobility options,” said Vivian Myrtetus, Head of Partnerships & Policy at Helbiz. “As the micro-mobility industry continues to evolve, we are proud to join the DDOT in the implementation of new measures to bring more organized operations to the city.”
To educate users of this new regulation, Helbiz has started distributing detailed instructions via email and pushing in-app notifications. The Company has also launched an educational campaign that can be seen on digital LiveBoards at transit stops throughout Washington D.C.
About Helbiz
Helbiz is a global leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform in 35 cities around the world. Helbiz utilizes a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery, financial services and more, all accessible within its mobile app.
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21, 2021. The Company’s SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Helbiz and speaks only as of the date on which it is made. Helbiz undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
For media inquiries, contact: https://www.helbiz.com/pressroom
Global Head of Communications: +1 (917) 675-7157
Davide D’Amico - email: This email address is being protected from spambots. You need JavaScript enabled to view it.
PR and Communication Manager:
Chiara Garbuglia - email: This email address is being protected from spambots. You need JavaScript enabled to view it.
USA
Agent of Change
Marcy Simon - Phone: +1 (917) 833-3392 - email: This email address is being protected from spambots. You need JavaScript enabled to view it.
For investor inquiries:
The Blueshirt Group
Gary Dvorchak, CFA - Phone: +1 (323) 240-5796 - email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Wind Power Market - China and Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
This study analyzes the historical and present-day scenario of the China and global wind power market to accurately gauge its growth potential. the study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the China and global wind power market in order to identify opportunities for stakeholders. the report also provides insightful information about how the wind power market in China and across the globe would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the wind power market in China and across the globe, which aids companies operating in the market in making strategic decisions. the publisher's study also elaborates on the significant changes that are anticipated to configure growth of the wind power market in China and across the globe during the forecast period. It also includes key indicator assessment that highlights growth prospects for the wind power market in China and across the globe, and estimates statistics related to the market in terms of volume (Units/MW) and value (US$ Bn).
This study covers detailed segmentation of the China and global wind power market, along with key information and a competition outlook. the report mentions company profiles of players that are currently dominating the wind power market in China and across the globe, wherein various development, expansion, and winning strategies practiced by these players have been presented in detail.
Companies Mentioned
Key Questions Answered in the publisher's Report on China and Global Wind Power Market
The report provides detailed information about the wind power market in China and across the globe on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the Chinese and global market and are looking for innovative methods to create a unique benchmark in the China and global market so as to help them design successful strategies and make target-driven decisions.
Key Topics Covered:
1. Executive Summary
2. Market Overview
2.1. Market Segmentation
2.2. Market Indicators
2.3. Market Dynamics
2.4. Drivers and Restraints Snapshot Analysis
2.4.1.1. Drivers
2.4.1.2. Restraints
2.4.1.3. Opportunities
2.5. Regulatory Scenario
2.6. Porter's Five Forces Analysis
2.6.1. Threat of Substitutes
2.6.2. Bargaining Power of Buyers
2.6.3. Bargaining Power of Suppliers
2.6.4. Threat of New Entrants
2.6.5. Degree of Competition
2.7. Value Chain Analysis
3. CAPEX Analysis
4. COVID-19 Impact Analysis
5. China Wind Power Market Volume (Units) and Value (US$ Bn) Analysis, by Component
6. China Wind Power Market Volume (MW) and Value (US$ Bn) Analysis, by Location
7. China Wind Power Market Volume (MW) and Value (US$ Bn) Analysis, by Application
8. Global Wind Power Market Volume (MW) and Value (US$ Bn) Analysis, by Region
9. Competition Landscape
9.1. Competition Matrix
9.2. China and Global Wind Power Market Share Analysis, by Company (2020)
9.3. Market Footprint Analysis
9.4. Company Profiles
10. Primary Research - Key Insights
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/nzew17
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
PARIS & ZURICH--(BUSINESS WIRE)--#cleanhydrogen--Ardian, a world leading private investment house, via its infrastructure business, and FiveT Hydrogen, a clean-hydrogen enabling investment platform, today announced a partnership to create Hy241, an equally owned joint venture. Hy24 will become the world’s largest investment platform focused on clean hydrogen infrastructure, designed to invest in projects that are critical to global decarbonization.
Hy24 is targeting €1.5bn for its first fund, making the platform the industry’s largest clean hydrogen infrastructure manager. Of this, €800m has already been committed by a leading group of industrial and financial investors active in clean hydrogen. The fund is the result of distinct initiatives from two groups of investors:
LOTTE Chemical, a large Asian industrial Group, also confirmed its intention to join as an anchor investor, and so will AXA, a major institutional investor. Other large international industrial players, all strongly committed to carbon neutrality, also intend to join the initiative. These include: Groupe ADP, Ballard, EDF and Schaeffler. More are expected soon.
The international tender process to select Hy24 and to engage industrial investors was arranged by Société Générale.
Hy24 plans to bring together additional international institutional investors and industrial companies to provide scale and investing capability for hydrogen projects around the world.
Hy24 combines Ardian’s world-class infrastructure investment expertise and asset management capabilities with FiveT Hydrogen’s extensive access to and experience with the hydrogen value chain. The combination will create the largest and most credible partner to energy giants and investors that are seeking a role in accelerating the build-out of hydrogen infrastructure. It meets the enormous demand from governments, corporations, and investors to invest in hydrogen to meet the world’s climate goals. Recent analysis2 indicates that up to $100 trillion in hydrogen investments will be required to meet net zero goals by 2050.
Hy24’s first fund will be set up and managed as an impact fund with the aim to reduce global carbon emissions, in accordance with Article 9 of the SFDR regulation. It will scale proven technologies towards mature infrastructure assets generating predictable cash flows, providing investors with unrivalled access to a new asset class that has the potential to follow the same pace of growth as renewables. The portfolio will be diversified across geographies (Europe, Americas and Asia) and value chains, from upstream projects like green hydrogen production, to downstream projects like captive fleet and refueling stations. The value-creation opportunity is significant: job creation and decarbonization, especially in hard-to-abate sectors.
Mathias Burghardt, Head of Ardian Infrastructure and Member of Ardian’s Executive Committee, said: “We are proud to have been chosen by some of the world’s leading industrial players and investors to lead this initiative. At a time when the European Union has announced a step-up in its climate ambitions, and just ahead of COP26, it is a great responsibility to lead such a platform. We were early backers of the renewables market, our platform reaching 7.5GW of heat and renewable capacity today, and it is clear to us that hydrogen is facing a similar trajectory. This collaborative partnership is exactly in line with how Ardian Infrastructure operates. We are confident that Hy24 will be able to play a leading role in accelerating the hydrogen scale-up needed to decarbonize our economies.”
Pierre-Etienne Franc, Co-founder and CEO of FiveT Hydrogen, said: “This is a great step forward for FiveT Hydrogen. Via this unique partnership, we expect to mobilize €15bn worth of investments as a catalyst for scaling up the industry at pace. The world urgently needs to accelerate the energy transition and reduce the carbon output of energy intensive, hard-to-abate sectors like transport and industrial production. Together with Ardian, and with the ambitious backing of our industrial LPs, we are well-placed to do this, combining a unique skill set and track record.”
The Hy24 executive committee comprises Laurent Fayollas (President), Pierre-Etienne Franc (CEO), Amir Sharifi (Chief Investment Officer), Nicolas Brahy (General counsel, public affairs and ESG Director) and Sébastien Paillat (Managing Director, Investments). A recruitment process is ongoing to establish a dedicated global team operating across four countries: France, Switzerland, the U.S. and Singapore.
ABOUT HY24
Hy24 was created by Ardian and FiveT Hydrogen to manage the first large global investment platform exclusively dedicated to hydrogen infrastructure solutions, resulting from an initiative started by industrial champions: Air Liquide, TotalEnergies, VINCI Concessions, Plug Power, Baker Hughes and Chart Industries and joined by AXA, a major institutional investor. With strong industrial expertise at its core, the platform will have a unique capacity to accelerate the scaling up of hydrogen solutions along the whole value chain: production, conversion, storage and supply and usage. The platform will support large early stage and strategic projects into becoming essential energy infrastructures.
ABOUT ARDIAN
Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 750 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
ABOUT FIVE T HYDROGEN
FiveT Hydrogen is the world’s first pureplay clean-hydrogen private investment and asset management platform. Its mission is to enable the foundation of the hydrogen economy through the development of various large Hydrogen investment initiatives, starting with infrastructure and this Clean H2 Fund jointly developed now within Hy24, with ARDIAN. FiveT Hydrogen was launched by an experienced team of world-class hydrogen and financial executives and is dedicated to enabling the Hydrogen economy to deliver its full potential. We believe that clean hydrogen - an energy carrier created with close to zero carbon-emissions - will transform and decarbonize the world's economy, creating a material value-creation opportunity.
https://fivet.com/fivet-hydrogen
1 The platform will be operational later in 2021, subject to AIFM accreditation by the French Market Authority (AMF) and to the finalization of the legal documentation with all partners. The Alternative Investment Fund Manager Directive (AIFM) provides a regulatory framework for alternative investment fund managers in Europe.
2 Including BloombergNEF (New Energy Outlook)
US PRESS CONTACTS
ARDIAN
The Neibart Group
Emma Murphy
This email address is being protected from spambots. You need JavaScript enabled to view it.
FIVE T HYDROGEN
FTI Consulting
Elizabeth Adams
This email address is being protected from spambots. You need JavaScript enabled to view it.
Utility business to be named Exelon; competitive energy business to be named Constellation
CHICAGO--(BUSINESS WIRE)--Exelon Corp. (Nasdaq: EXC) today announced the senior leadership of the transmission and distribution utility business and the competitive power generation and retail energy business that will result from the planned separation of the companies.
Christopher Crane, Exelon president and CEO, will continue as CEO of the regulated utility business, which will be called Exelon, and Joseph Dominguez, currently CEO of ComEd, has been named CEO of Exelon Generation and incoming CEO of the competitive energy business, which will be called Constellation. The company also announced that Joseph Nigro, Exelon CFO, will continue as CFO of Exelon, and Daniel Eggers, currently senior vice president of corporate finance for Exelon, has been named CFO of Exelon Generation and incoming CFO of Constellation. Dominguez and Eggers will move into their new roles immediately, and Crane and Nigro will remain in their current roles.
Calvin Butler, currently CEO of Exelon Utilities, will assume the role of interim CEO of ComEd, in addition to his current duties.
The separation remains on track to close in the first quarter of 2022, pending completion of the remaining regulatory approvals.
These announcements mark the latest milestone in the separation process, which was first announced in February. The transaction will give each company the financial and strategic independence to focus on its unique customer needs, while remaining focused on its core business strategy.
“The two companies will be leaders in their respective industries and will have the resources necessary to best serve their respective customers and sustain long-term investment and operating excellence,” Crane said. “As an independent company, Exelon will lead the way toward a brighter and cleaner energy future for our more than 10 million electric and gas customers, while continuing to invest in critical infrastructure, expand economic opportunity and promote equity in all the communities we serve.”
“Constellation will be the largest producer of clean energy in the nation by a wide margin, giving our expansive customer-facing platform a competitive edge as consumers and policymakers increasingly demand sustainable energy solutions,” Dominguez said. “I’m excited about the opportunity to lead such a talented workforce as we seek new opportunities to help our customers and communities reduce pollution and power a next-generation energy grid.”
About Christopher Crane:
Crane has served as president and CEO of Exelon Corp. since 2012, overseeing the nation’s leading competitive power provider and the largest utility company by customer count. During his tenure, he has led the company through major acquisitions, capital programs and cost management initiatives, while growing revenue from $23.5 billion in 2012 to $33 billion in 2020. Prior to being named CEO, he served as president and chief operating officer of the company, overseeing one of the nation’s largest portfolios of electric power facilities, including the nation’s largest fleet of nuclear plants. He has held a variety of progressively more responsible positions over the course of his more than 30-year career. He joined Exelon (then ComEd) in 1998 and was named chief nuclear officer in 2004. He played a key role in transforming the nuclear fleet into an industry leader in operational, safety, management, regulatory, workforce and financial practices. He assumed responsibility for Exelon’s fossil, hydro and renewables facilities, in addition to the nuclear fleet, in 2007. He oversaw a broad range of generation business development initiatives, including new nuclear development, nuclear operating services, development of the largest urban solar project and asset optimization. He was named president of Exelon Generation in 2008. Prior to joining Exelon, Crane served as Browns Ferry site vice president for Tennessee Valley Authority and worked in new plant start-up at the Comanche Peak Nuclear Power Plant in Texas and Palo Verde Nuclear Generating Station in Arizona. You can read his full bio here.
About Joseph Nigro:
As Exelon’s chief financial officer, Nigro is responsible for overseeing the execution of all financial activities, including capital investment, financial reporting, planning, risk management, tax and insurance. He also leads the treasury function in developing and implementing financing plans, and investor relations. Prior to his current role, Nigro served as CEO of Constellation, Exelon’s competitive retail and wholesale energy business. He was responsible for marketing electricity, natural gas and other energy-related products and services for Constellation customers, as well as optimizing the value of Exelon’s generation output. Prior to his CEO role, Nigro served as senior vice president, portfolio strategy, for Constellation. He led the portfolio management, structuring, quantitative analysis, transmission analysis, fundamental forecasting, strategic business and other functions. Nigro joined Exelon’s PECO Power Team in 1996 and later held a series of roles on the Exelon Power Team, including senior vice president of portfolio management and strategy. Prior to joining Exelon, he spent seven years with Phibro Energy Inc., an independent trading and refining company in Greenwich, Conn., and Houston. You can read his full bio here.
About Joseph Dominguez:
Dominguez became CEO of ComEd in 2018, overseeing management of the electric grid serving more than 4 million customers in Chicago and most of northern Illinois. He led ComEd during a period of record performance for customers, including best-ever reliability and customer satisfaction. However, the majority of his more than 20-year career at Exelon has been working on behalf of the generation business, leading transformational changes in the policy landscape supporting zero-emission nuclear energy, negotiating large commercial transactions and cementing Exelon Generation’s reputation as the leading provider of clean energy solutions in the U.S. For much of that time Dominguez served as executive vice president of governmental and regulatory affairs and public policy for Exelon. In that role, he led the development and implementation of federal, state and regional governmental, regulatory and public policy strategies for the company. Dominguez began his career at Exelon in 2002 as associate general counsel, taking responsibility for all litigation matters in the mid-Atlantic region. He was named general counsel for Exelon utility PECO in 2004, and in 2007 was named senior vice president of state regulatory and government affairs and general counsel of Exelon Generation. His role expanded in 2009 to include senior vice president of communications, and in 2010 he was named senior vice president of federal regulatory affairs and public policy for Exelon. Prior to Exelon, Dominguez was a partner in the law firm of White and Williams, LLP, with a broad-based litigation practice counseling large and small corporations, institutions and government entities. He also is a former assistant U.S. Attorney, Eastern District of Pennsylvania, where he spearheaded the investigation and prosecution of numerous crimes, ranging from money laundering to murder-for-hire. You can read his full bio here.
About Daniel Eggers:
Eggers currently serves as senior vice president of Corporate Finance, leading the investor relations, treasury, corporate planning, corporate financial operations and insurance functions. He and his team serve as the primary interface between Exelon and the financial community, including investors and rating agencies, and are responsible for explaining the company’s financial, strategic, operational and regulatory goals and results. He joined the company in 2016 as senior vice president of investor relations, taking responsibility for developing and managing strategy and message content for external financial communications, including earnings and other investor presentations. In 2018 he was named a top IR professional in the utilities sector by Institutional Investor. Prior to Exelon, Eggers was a managing director at Credit Suisse in the Investment Banking division. He served as a member of the Equity Research department, where he covered regulated utility, integrated power and independent power producer stocks, including Exelon. He also served as co-head of U.S. Energy Research and had macro coverage responsibilities for the power sector, as well as wind energy and carbon policy. Over his 18-year career at Credit Suisse, he was a top-ranked analyst in the Institutional Investor Poll and the Bloomberg/Greenwich Associate poll, and also received awards for stock picking and estimate accuracy from Starmine, among other honors. You can read his full bio here.
Timing and Approvals
Closing of the transaction in the first quarter of 2022 is subject to final approval by the company’s Board of Directors, a Form 10 registration statement being declared effective by the Securities and Exchange Commission, the receipt of remaining regulatory approvals and the satisfaction of other conditions. The transaction was approved by the Federal Energy Regulatory Commission in August. Approval by the Nuclear Regulatory Commission and New York Public Service Commission remains pending. Exelon shareholder approval is not required. There can be no assurance that any separation transaction will ultimately occur or, if one does occur, of its terms or timing.
About Exelon Corporation
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
Paul Adams
Corporate Communications
410-470-4167
This email address is being protected from spambots. You need JavaScript enabled to view it.
Emily Duncan
Investor Relations
312-394-2345
Company Website: CreekRoadMiners.com
PARK CITY, Utah--(BUSINESS WIRE)--Creek Road Miners, Inc. (OTCQB:CRKR) (“Creek Road Miners,” or “Company”) announces the arrival of its first commercial-scale batch of Antminer S19 Pro cryptocurrency miners from Bitmain Technologies Ltd. (“Bitmain”). These miners are being deployed as part of the Company’s proof-of-concept, with the inaugural facility targeted to be live in the coming weeks. During this time frame, Creek Road Miners also anticipates further expanding its crypto-mining infrastructure to achieve scale and geographic diversification.
Creek Road Miners is focused on building its mining infrastructure with high performance and efficient mining hardware, making the S19 Pro a clear choice. Manufactured by Bitmain, an industry-leading hardware manufacturer, the S19 Pro boasts a custom built Application-Specific Integrated Circuit (ASIC), a hash rate of 110±3% TH/s, and a power efficiency of 29.5±5% joules per terahash (J/TH).
“Securing delivery of a significant quantity of miners is a huge milestone for Creek Road Miners,” commented Mr. Scott D. Kaufman, Chairman and Chief Executive Officer of Creek Road Miners. Mr. Kaufman emphasized, “Particularly given the complexity of today’s economy, we truly value and appreciate Bitmain partnering with us to make this happen as promised.”
Please visit the company’s website CreekRoadMiners.com for more information and updates.
About Creek Road Miners, Inc. (OTCQB: CRKR)
Creek Road Miners, Inc. (www.creekroadminers.com) utilizes mobile power generation units and mining facilities to overcome the economic barriers to utilizing the abundance of stranded natural gas in the U.S. market, while acquiring energy suppliers to create dual revenue streams.
Wizard World Vault (www.wizardworldvault.com) features some of the most popular memorabilia from featured pop-culture artists and exhibitors.
Forward-Looking Statements:
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Investor Relations and Media:
Scott A. Sheikh
Creek Road Miners, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
MILAN--(BUSINESS WIRE)--#CESI--Starting as of today, Guido Bortoni is the new Chairman of the Board of Directors at CESI S.p.A (Centro Elettrotecnico Sperimentale Italiano), following the appointment of the new Board by the CESI S.p.A. Ordinary Assembly of the Shareholders on July 14th, 2021.
In the first Board of Directors meeting, held on July 15th, Matteo Codazzi was confirmed as Group Chief Executive Officer for the three-year period 2021 - 2023.
The new Board of Directors is comprised of:
Alberto Calvo
Antonio Cammisecra
Ernesto Ciorra
Giuseppe Del Villano
Giacomo Donnini
Fabio Ignazio Romeo
Francesco Venturini
Flavio Villa
The new Chairman, Guido Bortoni, has been Chairman of ARERA – Italian Regulatory Authority for Energy Network and Environment – from 2011 to 2018. Previously, he was Chief Executive at the Energy Department of the Italian Government (2009-2011); Head of the Energy Markets Department at the then Italian Electricity and Gas Regulatory Authority (1998-2009); Engineer for Power Grid Studies at CESI/Enel (1987-1998), where he committed to long-term internships at several US utilities and at Électricité de France - études et Recherches (EDF), in Paris. From July 2019, he held the role of Senior Advisor - Regulatory at the Directorate-General Energy of the European Commission. He graduated in Electric Engineering at the Università degli Studi in Pavia and obtained a Masters’ Degree in Administration and Corporate Management at the Politecnico University in Milan.
“My gratitude goes to the CESI Shareholders, the new Board of Directors and the new colleagues who I hope to meet as soon as it will be safe and possible. This is a return to the place in which my professional career first started, where I had the opportunity to develop a background based on the Italian and European best practices, which is essential to interact with institutions and key players in the energy sector,” says the Chairman of CESI Group. “Today, I come back to a much bigger, improved and more diversified CESI Group, which has the goal to support and inspire the players of the global energy transition through its testing and consulting services, integrated with civil and environmental engineering activities. This happened thanks to the know-how and expertise of those working at CESI and to the vision of recent management. Indeed, the CESI capabilities in offering services to support the adaptation of energy systems to climate change are truly extraordinary. Just like the latest tools at the disposal of CESI consulting activities on the policies of emissions mitigation and integration into the energy markets are truly impressive.”
Matteo Codazzi has been CEO of CESI since 2009. From 2006 to 2009 he has been CEO and Country Manager of Enel in Romania. He joined Enel in 1999; He has been Residential and Business Market Director at Enel Distribuzione and has held important roles such as Director for the Italian Regulatory Affairs, CFO, and Mergers & Acquisitions Manager in the Generation and Electricity & Gas Distribution areas. Codazzi began his career in 1990 at Finmeccanica-Ansaldo and Alenia, holding several roles in the fields of power generation and aerospace. He graduated with honors in Economics and Commerce from the LUISS University in Rome, where he also served as Professor, and completed the Advanced General Management Program at the Columbia University in New York.
“I take the opportunity to thank our shareholders for the trust they have placed in me once again. In the past years, CESI has been able to face the challenges posed by the evolution of the energy sector, turning them into an opportunity for growth, which made us a global leader in innovation and energy transition services. In this context, the authority, independence and profound skills of a figure of great institutional importance, such as Chairman Bortoni, are an essential contribution for the future of CESI,” says Matteo Codazzi. “Let me also thank Salvatore Machì, our former Chairman, on behalf of all shareholders and employees, for the valuable contribution he offered to the Group over the course of twenty-two years of great commitment, as CEO first and as Chairman subsequently. Thanks to his action, CESI has become a world leader in the field of innovation, testing and consulting for the electricity industry and in civil and environmental engineering.”
CESI S.p.A (Centro Elettrotecnico Sperimentale Italiano) for over 60 years has offered services to its customers, located in over 70 countries around the world, in the field of innovation, engineering, testing and consulting for the electric sector and in the civil and environmental engineering sectors. With its KEMA Labs Division, the Group is world leader in testing, inspection and certification of electromechanical components for the power sector. CESI is, also, one of the few companies in the world to develop and produce advanced solar cells (III-V triple junction GaAs) for earth and space applications (CPV). The company’s key global clients include major power utilities, Transmission System Operators (TSOs), Distribution System Operators (DSOs), power generation companies (GenCos), system integrators, financial investors and global electromechanical and electronic manufacturers, as well as governments and regulatory authorities. CESI works in close cooperation with international financial institutions such as World Bank Group, European Bank for Reconstruction and Development, Inter-American Bank, Asian Development Bank and Arab Fund. CESI is headquartered in Milan and has facilities and offices in Arnhem, Berlin, Mannheim, Chalfont (USA), Prague, Dubai, Rio de Janeiro, Santiago de Chile and Knoxville (USA).
www.cesi.it
Luca Pincelli – CESI Group External Relations – This email address is being protected from spambots. You need JavaScript enabled to view it. / +39 3204048410
DUBLIN--(BUSINESS WIRE)--The "Breakthrough Advancements in Proton-Exchange Membrane Fuel Cells" report has been added to ResearchAndMarkets.com's offering.
Transition to a carbon-neutral energy economy requires a more environmentally-friendly energy carrier. Hydrogen and its multiple end-use applications play a huge role to contribute to the decarbonization of major sectors of the economy. Current power generating units cannot cater to emerging needs in the reduction of greenhouses gas emissions. Hydrogen-powered fuel cell offers several advantages such as consistent power, long autonomous operation and service life, high reliability, zero emissions. Powered by hydrogen, the fuel cell is one of the cleanest technologies of the future. The backup capacity of hydrogen fuel cells could vary from a few kW to over 1MW, and can be installed nearly anywhere.
The findings and growth opportunities depicted in this study will help to drive the economic growth and technology revolution of the fuel cell industry. The study highlights the necessity for fuel cells and discusses the major challenges faced by PEM fuel cell technology development in gaining wide-scale commercial deployment.
The study provides a review of key research focus areas and technological challenges to overcome within PEM fuel cells. Additionally, it presents key stakeholders involved in technology development and notable developments. It also features patent landscaping of PEM fuel cells, highlighting key patent owners/assignees, and patent jurisdiction with the highest activity. The report outlines and describes the key factors influencing the PEMFC adoption, such as limited hydrogen refueling infrastructure, low manufacturing volume of key PEM fuel cell components. The report also highlights the emerging growth opportunities. Key emerging manufacturing technologies of PEM fuel cells are discussed, and technical and cost targets are also analyzed.
Companies Mentioned
The growth opportunities in PEM fuel cell technology:
To achieve higher levels of penetration, it is extremely important to reduce PEM fuel cell stacks cost. In this respect, major advances should be made in the development of the mass-manufacturing process and increasing the production rate of manufacturing parts and assembling components.
PEM Fuel cells offer a very promising solution, as they can be operated with dramatically reduced climate-damaging emissions. With carbon pricing being introduced across many countries, industries are expected to move toward low-carbon energy carriers, including green hydrogen. Considering the current challenges facing the environment and meeting the required energy target, PEM fuel cells as a sustainable energy generating unit are realistic solutions.
The study deeply illustrates the following:
Key Topics Covered:
1. Strategic Imperatives
2. Research Context and Summary of Findings
2.1 Research Context
2.2 Research Scope: Key Questions the Research Will Answer
2.3 Research Methodology
2.4 Key Findings in PEMFCs
3. PEMFC Technology-Overview
3.1 Fuel Cell Technology Promotes Future Zero Carbon Energy Economy
3.2 PEMFC Technology Components and Working Mechanism
3.3 PEMFC Technology - Key Drivers and Opportunities for Deployment
3.4 Industrial Decarbonization and Energy Efficiency are Expected to Drive Adoption of PEMFCs by 2030
3.5 Supportive Regulatory Framework and Renewable Energy Integration are Expected to Drive PEMFC Adoption by 2030
3.6 Key Restraints to Overcome for Successful Deployment of PEMFCs
3.7 PEMFC Restraints: High Material and System Costs
3.8 PEMFC Restraints: Poor Cell Performance
3.9 PEMFC Restraints: High Manufacturing Cost and Poor Combined Durability-system Cost
3.10 PEMFC Restraints: Low Durability and Stability of Cell Components
4. PEMFC Manufacturing Technologies
4.1 Current and Emerging Manufacturing Technologies Used to Produce Fuel Cell Stack Components
4.2 Emerging Manufacturing Technologies of PEMFC
4.3 Additive Manufacturing Technologies of PEMFC
5. Innovation Ecosystem- Companies to Watch
6. IP Analysis of PEMFCs
6.1 Patent Activity for PEMFCs
6.2 Competitive Landscape in Patent Activity for PEMFCs
7. Technology Analysis and Application Prospect
7.1 Fuel Cell Systems Cost and Technical Objectives as Decisive Criteria for Commercialization
7.2 Cost and Performance Analysis of PEMFCs for Transportation Applications
7.3 Cost and Performance Analysis of PEMFCs for Stationary Applications
7.4 PEMFCs Provide Various Benefits for Different Applications
7.5 Application Future of PEMFCs
8. Growth Opportunities
8.1 Growth Opportunity: Mass Volume Production to Reduce PEMFC Cost, 2021
8.2 Growth Opportunity: Strong Focus on Clean Energy Sources Drives the Use of PEMFCs, 2021
8.3 Growth Opportunity: Hydrogen Infrastructure Development to Boost Deployment of PEMFCs, 2021
9. Key Industry Influencers
10. Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/q84l73
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
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.