DUBLIN--(BUSINESS WIRE)--The "Fuel Wholesaling in the UK - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Firms in this industry sell a range of fuel products and some by-products from the petroleum refining process. The industry includes the wholesale of charcoal, coal, coke, fuel wood, naphtha, crude oil, diesel fuel, petrol, fuel oil, heating oil and kerosene. The industry also includes the wholesale of greases, oils and gases such as liquefied petroleum gas (LPG), butane and propane.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
A Selection of Companies Mentioned Include:
Key Topics Covered:
ABOUT THIS INDUSTRY
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
MAJOR COMPANIES
OPERATING CONDITIONS
KEY STATISTICS
For more information about this report visit https://www.researchandmarkets.com/r/d0dyqa
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Laura Wood, Senior Press Manager
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LEAWOOD, KS--(BUSINESS WIRE)--This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding the distribution paid on September 30, 2021 and cumulative distribution paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distribution, payable September 30, 2021 and the cumulative distribution paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.
Tortoise Power and Energy Infrastructure Fund, Inc. |
||||||||
Estimated Sources of Distributions |
||||||||
|
($) Current
|
% Breakdown
|
($) Total Cumulative
|
% Breakdown of the
|
||||
Net Investment Income |
0.0221 |
|
37% |
|
0.1975 |
|
38% |
|
Net Realized Short-Term Capital Gains |
0.0000 |
|
0% |
|
0.2530 |
|
49% |
|
Net Realized Long-Term Capital Gains |
0.0067 |
|
11% |
|
0.0067 |
|
1% |
|
Return of Capital |
0.0312 |
|
52% |
|
0.0628 |
|
12% |
|
Total (per common share) |
0.0600 |
|
100% |
|
0.5200 |
|
100% |
|
Average annual total return (in relation to NAV) for the 5 years ending on 8/31/2021 |
-0.58% |
|
Annualized current distribution rate expressed as a percentage of NAV as of 8/31/2021 |
4.68% |
|
|
|
|
Cumulative total return (in relation to NAV) for the fiscal year through 8/31/2021 |
22.63% |
|
Cumulative fiscal year distributions as a percentage of NAV as of 8/31/2021 |
3.38% |
You should not draw any conclusions about TPZ’s investment performance from the amount of this distribution or from the terms of TPZ’s distribution policies.
TPZ estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TPZ is paid back to you. A return of capital distribution does not necessarily reflect TPZ’s investment performance and should not be confused with "yield" or "income."
The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Tortoise Capital Advisors is the Adviser to the Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on these funds, please visit cef.tortoiseecofin.com.
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseEcofin.com.
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 Tortoise Capital Advisors 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 Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
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.
Maggie Zastrow, (913) 981-1020
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One of 50 Firms to “Do Something Hard” Actions to Improve Inclusion and Equity
MINNEAPOLIS--(BUSINESS WIRE)--#DEI--International law firm Dorsey & Whitney is pleased to announce that the Firm has committed to take one “Do Something Hard” action as part of the 2021 Inclusion Blueprint.
Dorsey is one of 50 law firms that are participating in the Inclusion Blueprint, a collaborative project between Diversity Lab and ChIPs. The project provides a first-of-its-kind tool to measure inclusion actions that law firms can and should employ—at both the leadership and practice group levels—to ensure that historically underrepresented lawyers have fair and equal access to quality work, influential sponsors and clients, and other opportunities.
The assessment includes three main categories for law firms to track, measure, and benchmark their diversity and inclusion efforts at the leadership and practice group levels: (1) current diversity representation thresholds and year-over-year progress; (2) ongoing inclusion practices and activities; and (3) a commitment to “hard” actions to be implemented over the next year.
The public commitments to “Do Something Hard” are a new addition to this year’s assessment. Following George Floyd’s murder in 2020, many law firms issued statements confirming their commitment to racial equality and ensuring that all individuals are treated fairly in the workplace and beyond. “Research shows that real change requires actions that are meaningful, sustained long term, and measurable—not just statements,” said Erin Hichman, Diversity Lab’s Director of Data Management. “The ‘Do Something Hard’ actions, when put in place by firm management and supported by all partners at the practice group level, signal that they are serious about and committed to making their own group’s systems more equitable.”
The actions at the Leadership level include: (1) 50 hours of billable credit for DEI contributions; (2) partner and/or practice group leader compensation linked to DEI; and (3) pay and origination credit equity gap analyses for partners.
The actions at the Practice Group level include: (1) matter credit for diverse lawyers for new and expanding work; (2) client team diversity and direct access; and (3) an Ally Action Pledge.
By committing to the first Leadership action, Dorsey will go beyond simply offering 50 hours of “billable credit” to lawyers for meaningful contributions to diversity and inclusion at the Firm and in the profession by tracking and measuring whether those hours are being used equally by various demographic populations and making changes to remedy unequal distribution across various demographic populations.
As part of their commitment to these actions, the participating firms’ leaders will report their progress to Diversity Lab and also participate in the 2022 Inclusion Blueprint to remain accountable to these actions.
Read more about Dorsey and the law firms that have publicly committed to implement the actions at the Leadership and Practice Group levels by January 2022.
“Dorsey knows that real change requires action, not just statements,” said Dorsey Managing Partner Bill Stoeri. “We believe that the ‘Do Something Hard’ actions will lead to improvements in how we operate our business and in how our policies and practices impact colleagues and clients. We are dedicated to improvement both inside and outside our Firm.”
About Dorsey & Whitney LLP
Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful companies from a wide range of industries, including leaders in banking & financial institutions, development & infrastructure, energy & natural resources, food, beverage & agribusiness, healthcare and technology, as well as major non-profit and government entities. www.dorsey.com
Jeri Longtin-Kloss
612.492.5315
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) announced today that it has entered into a new $80 million asset-based revolving credit facility (the “ABL Facility”) with a syndicated banking group. The ABL Facility replaces Helix's existing credit facility and term loan, which was concurrently repaid in full.
The key features of the ABL Facility include:
Erik Staffeldt, Executive Vice President and Chief Financial Officer of Helix, commented, “We are pleased to have executed the new ABL Facility, which will provide us with access to working capital financing as needed during our post-capital expansion phase. We expect the facility will provide greater flexibility to manage our daily operations and financial covenant compliance requirements. Our initial borrowing base is approximately $72 million, and we expect it will fluctuate between $30 and $70 million with our seasonal and geographic changes in activity. The ABL Facility will initially be used to support our existing letters of credit, and our initial availability, net of letters of credit, is approximately $70 million with no outstanding borrowings. We are pleased to be able to continue our banking relationships with the support of our lenders.”
Bank of America, N.A. and Wells Fargo Bank, N.A. acted as Joint Lead Arrangers, and Bank of America, N.A. will continue to serve as Administrative Agent.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit our website at www.HelixESG.com.
Erik Staffeldt
Executive Vice President and CFO
email: This email address is being protected from spambots. You need JavaScript enabled to view it.
ph: 281-618-0465
NTS’s Boxborough Lab Adds State-of-the-Art Test Equipment to Expand Capability and Accelerate Test Scheduling
ANAHEIM, Calif.--(BUSINESS WIRE)--#60YearsofInnovation--National Technical Systems, Inc. (“NTS”), the leading independent provider of qualification testing, inspection, and certification solutions in North America, is excited to announce that its laboratory in Boxborough, Massachusetts, recently invested $1.85 million to expand EMI/EMC test capacity and improve the customer experience.
The investment includes the purchase of two new EMI/EMC chambers along with one ground plane. The state-of-the-art equipment can be used to serve customers in a variety of different industries that require advanced testing, including the aerospace and defense sectors. The addition of the new chambers have expanded the NTS Boxborough’s EMI/EMC test capacity by 30%, which allows lab to provide optimal test schedule queue times to customers in different markets.
The new equipment is part of a larger initiative to improve the customer experience. As a result, the investment includes a new building with a customer lounge, nine offices, a café, and a tech area. “We’re excited to merge the highest standard of testing with an enhanced customer experience,” said Robert Lunnin, General Manager at NTS’s Boxborough laboratory.
The lab also added a new ETS I1045 shaker system, which expands the facility’s capacity and capability for dynamics testing. The new high-powered shaker system, in conjunction with the eight shaker systems in place already, allows NTS Boxborough to service customer test schedules more quickly and effectively. “As New England’s premier test lab, the $1.85 million investment allows us to serve more customers at a quicker pace in a more comfortable setting,” continued Lunnin.
With 28 labs in North America, NTS boasts the most EMI/EMC chambers on the continent—and the Boxborough lab is currently operating nine EMI/EMC chambers to complement its numerous dynamics and environmental chambers. “We truly are the ultimate one-stop shop for testing—and we’re committed to leveraging our expanded capacity to accelerate turnaround times and keep our customers happy.”
About National Technical Systems
National Technical Systems, Inc. (NTS) is the leading provider of qualification testing, inspection, and certification services in North America, serving a broad range of industries, including the civil aviation, space, defense, nuclear, telecommunications, industrial, electronics, medical, and automotive end markets. Since 1961, NTS has built the broadest geographic presence in the United States, offering more than 70 distinct environmental simulation and materials testing categories, including climatic, structural, dynamics, fluid flow, EMI/EMC, lightning, product safety, acoustics, failure analysis, chemical, and other industry-specific tests.
With 28 technologically advanced testing laboratories, this geographically diverse footprint puts NTS facilities in close proximity to its more than 8,000 clients, allowing NTS to serve the nation’s most innovative companies with industry-leading accessibility and responsiveness. NTS is accredited by numerous national and international organizations and operates its inspection division under the Unitek brand, providing a wide range of supply chain management services. NTS’ certification division, which operates under the NQA brand, is one of the largest and most respected global ISO registrars, with active certifications in more than 75 countries. For additional information about NTS, visit our website at www.nts.com or call 800-270-2516.
Jade Bunke, Vice President of Marketing This email address is being protected from spambots. You need JavaScript enabled to view it.
Staff, Labor and Industry Partners Praised for Amazing performance during Unprecedented Times
HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority convened on Tuesday in an in-person public meeting for the first time since the pandemic's start. The Emergency Suspension of the Open Meetings Act requirements ended, and in accordance, a quorum of the Commission was physically present.
Chairman Campo observed that they had masks and were properly spaced and being thoughtful of best Covid-19 protocols. He said that the hybrid public meetings will likely continue as providing remote access of the meetings to the public is a “helpful option.”
Chairman Campo expressed appreciation to Port staff and users of the channel, including the International Longshoremen Association (ILA), Seafarers, U.S. Army Corps of Engineers, and the U.S. Coast Guard, among many for “continuing to drive economic activity, impact and creating jobs for our region.” He said in part that “an amazing amount of work is getting done by an amazing team doing a great job despite the pandemic and issues along the supply chain.”
In his staff report, Executive Director Roger Guenther highlighted the historic record-breaking month of the highest cargo volume ever for the public container terminals. He added that there has also been a dramatic increase in import steel, and other general cargo commodities handled through the Multipurpose facilities.
Guenther said the Port is seeing an extended peak holiday season for containerized cargo and the elevated levels occurring in the supply chain are expected to continue well into 2022. The unprecedented surge in import volumes has created significant challenges across the nation and Houston is not immune to current disruptions in the global supply chain. However, Port Houston remains closely engaged with customers, ocean carriers, stevedores, labor, truckers, and all other industry partners to seek solutions to maximize the opportunities to keep freight moving efficiently.
In consideration of heightened interest of the Houston Ship Channel expansion program, Project 11, Guenther highlighted the environmental initiatives of the public terminals. Earlier this month, Port Houston received the draft report for the Goods Movement Emissions Inventory (GMEI), which updates emissions data from 2013 to 2019.
The updated GMEI draft shows improvements in nearly every category. Even with the 53% twenty-foot equivalent unit (TEU) throughput increase and 8% increase in cargo tonnage during this period, the public terminals emissions were lowered by between 15% and 93% for all evaluated pollutants across the board in 2019 compared to 2013.
Additionally, Mr. Guenther noted receiving 9 new hybrid-electric rubber-tired gantry (RTG) cranes bringing the total to 31 RTG’s, growing this yard crane equipment from zero to 26% of the total fleet over recent years. The hybrid-electric RTGs reduce emissions by up to 70 to 90% over older diesel models.
Port Houston continues to explore opportunities, including accelerating an already aggressive capital investment strategy for the public terminals to stay in front of the demand. A highlight of items passed and authorized by the Commission included the award of a construction contract to complete rail spur construction at the Bayport terminal. Also, the Commission approved an order for more than $800,000 to purchase replacement data storage and increased redundancy equipment.
Chairman Campo also applauded Port Houston's Information Technology (IT) Department for successfully “stopping a security breach before it happened.” During the meeting in public comments, U.S. Coast Guard Captain of the Port Jason E. Smith presented a Certificate of Merit to Director, Information Security Officer Chris Wolski for his actions, diligence, expertise and contributions concerning protecting Port Houston and the Houston Ship Channel overall on matters related to cybersecurity.
Guenther also formally introduced the new Chief Business Equity Officer, Maxine Buckles, to the Commission. Buckles will lead the Small/Minority and Women-owned Business Equity program and internal Diversity, Equity, Inclusion initiatives and report directly to the Executive Director.
The next regular Port Commission meeting is scheduled for Tuesday, Oct. 26.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.
Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
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HRS to Supply 36 Hydrogen Stations by 2026
HRS to invest €7M in GAUSSIN stock
HÉRICOURT, France & GRENOBLE, France--(BUSINESS WIRE)--GAUSSIN (EURONEXT GROWTH : ALGAU - FR0013495298), pioneer of clean and smart freight transport, and Hydrogen-Refueling-Solutions (HRS) (EURONEXT GROWTH ALHRS FR0014001PM5), European designer and manufacturer of hydrogen refueling stations, announced the signing today of a term sheet to implement an exclusive partnership. As part of this partnership, HRS will supply 36 hydrogen stations between 2021 and 2026 in the European Union. The agreement is intended to support the rollout of GAUSSIN’s turnkey hydrogen mobility solutions for on-road and off-road applications.
As part of the agreement, HRS is investing €7 million in newly issued shares of GAUSSIN at the unit subscription price of €6.20 per share.
A TURNKEY OFFER TO PROMOTE ACCESS TO HYDROGEN AND SATISFY STRONG DEMAND FOR H2 MOBILITY SOLUTIONS
The integration of HRS into GAUSSIN’s hydrogen ecosystem and the contribution of its station expertise, a key component of the value chain, will capitalize on the strengths of each partner, enabling the offer of a comprehensive, low-carbon mobility solution, helping to accelerate the adoption of hydrogen fuel, which is perfectly suited to GAUSSIN’s heavy vehicle applications.
The details of the partnership include the development of a turnkey solution marketed by GAUSSIN, comprising zero-emission vehicles for multiple uses (airports, logistics, ports, Smart Cities, roads) resulting from technological innovations in its research and development center, and the latest-generation HRS hydrogen refueling station. The stations will be manufactured on the HRS site in the Grenobloise metropolitan area.
As part of this exclusive partnership, HRS will supply a minimum of 36 hydrogen stations to GAUSSIN or its customers over a period of five years, optionally supported by a new leasing solution established with BNP PARIBAS Leasing Solutions. The agreement provides for a gradual ramp-up beginning with the delivery of four 200 kg/day stations in 2021/2022, starting with two 30 days after HRS has invested in newly issued GAUSSIN shares.
TOGETHER SUPPORTING THE DEVELOPMENT OF THE EUROPEAN HYDROGEN INDUSTRY
HRS will also subscribe to a capital increase of GAUSSIN, of €7 million (€6.20 per share). The partnership between the two companies is aimed at facilitating a joint approach to the development of the hydrogen sector in Europe, with heavy mobility set to play a major role in the coming months.
“HRS’s expertise and its international reputation in the field of hydrogen stations makes us confident in our ability to deliver robust and reliable solutions while simplifying our value proposition for our customers with a turnkey solution integrating the production and distribution of hydrogen, in addition to GAUSSIN vehicles, together with all the associated services,” said Christophe Gaussin, Chairman and CEO of GAUSSIN.
“This is a historic agreement for the deployment of hydrogen in Europe. Our new partnership, spanning both commercial aspects and investment, with a player as dynamic and ambitious as GAUSSIN, will allow progress in the structuring of the sector and help accelerate the rollout of our hydrogen mobility solutions. Large-scale projects are emerging, thanks in large part to support from numerous European stimulus plans. Our new partnership will allow the first comprehensive turnkey offer to satisfy this massive demand through joint innovation from our two groups,” added Hassen Rachedi, Founder and Chairman and CEO of HRS.
About GAUSSIN
GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.
In October 2019, the group won the World Autonomous Vehicle Transport Competition "Category leader" - "Better energy and environmental sustainability".
GAUSSIN has been listed on Euronext Growth in Paris since 2010 (EURONEXT GROWTH - FR0013495298).
More information on www.gaussin.com.
ABOUT HRS
Founded in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is pioneer in hydrogen mobility. European designer and manufacturer of hydrogen refuelling stations, for over ten years, the Company has been committed to reducing transport emissions.
Thanks to its unique experience and know-how, HRS has developed a complete range of hydrogen refuelling stations for all types of fuel cell vehicles that is perfectly suited to the needs of a fast-growing European market. At its Champ-sur-Drac site, HRS has mass production capacities that enable it to assemble up to 60 units per year in record time, in as little as 8 weeks. A new 14,300m2 production unit, planned for the fall of 2022, near Grenoble in Champagnier (Isère), will increase HRS's production capacity to 180 stations per year.
The Company posted 2019-2020 revenue of €10.5 million. As of June 30, 2021, the company had 41 employees. (ISIN code: FR0014001PM5 - ticker symbol: ALHRS).
More information on Gaussin is available on www.gaussin.com
GAUSSIN
Christophe Gaussin, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)3.84.46.13.45
Ulysse Communication
Nicolas Daniels, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)6.63.66.59.22
Charles Courbet, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)6.28.93.03.06
LHA Investor Relations – USA
Jody Burfening, This email address is being protected from spambots. You need JavaScript enabled to view it.
(212) 838-3777
RooneyPartners – USA
Jeanene Timberlake, This email address is being protected from spambots. You need JavaScript enabled to view it.
(646) 770-8858
HRS CONTACTS
Investor Relations
ACTUS finance & communication
Grégoire SAINT-MARC
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Tel. +33 1 53 67 36 94
Press Relations
ACTUS finance & communication
Anne Catherine BONJOUR
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Tel. +33 1 53 67 36 93
LONDON--(BUSINESS WIRE)--Moody’s Corporation (NYSE: MCO) today announced that it has joined the Taskforce on Nature-related Financial Disclosures (TNFD), a new industry-led initiative working to significantly shift global financial flows from nature-negative to nature-positive outcomes. As a member of the TNFD, Moody’s will join leading organizations across key sectors and geographies to develop a reporting framework and act on evolving nature-related risks.
“At its core, Moody’s role is to help others better understand, measure, and manage risk. As our own research has identified, biodiversity and nature-related risks are impacting corporate performance and are increasingly important considerations in building a more sustainable future,” said Rob Fauber, President and Chief Executive Officer of Moody’s Corporation. “We are thrilled to contribute to the TNFD’s efforts as organizations increasingly seek to make better decisions and unlock opportunities across their value chains.”
Research from across Moody’s has found that biodiversity and nature-related risks pose a significant threat to a wide range of industries and sectors. A Moody’s Investors Service report found that 12 sectors with $2.1 trillion in combined debt, including all extractive industries, face high or very high natural capital risk. In addition, a Moody’s ESG Solutions study found that 38% of large publicly traded companies have at least one facility associated with habitat loss, based on a sample of 5,300 corporations.
Currently, financial institutions and companies do not have complete information to help them understand how nature-related risks impact long- and short-term financial performance. The TNFD will assist financial institutions and companies with incorporating nature-related risks and opportunities into their strategic planning, risk management and asset allocation decisions. In the coming years, Moody’s will work with TNFD members to develop a practical framework for nature-related risks and a set of reporting guidelines.
The announcement builds on Moody’s participation in the Task Force on Climate-related Financial Disclosures (TCFD), which has established and normalized a framework for reporting financial risks related to climate change. It also follows Moody’s role as a founding member of the Net Zero Financial Services Provider Alliance, which is part of the Glasgow Financial Alliance for Net Zero. Moody’s has also committed to achieve net-zero emissions across its operations and value chain by 2040, bringing its original target forward by 10 years. In addition, Moody’s has set and progressed on validated, interim net-zero science-based targets. Progress on these targets can be viewed in Moody’s recent TCFD Report and Stakeholder Sustainability Report. Additional information about Moody’s climate efforts is available on its Climate Hub.
ABOUT MOODY’S CORPORATION
Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With over 11,500 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for the business and operations of Moody’s Corporation (the “Company”) that involve a number of risks and uncertainties. Such statements may include, among other words, “believe”, “expect”, “anticipate”, “intend”, “plan”, “will”, “predict”, “potential”, “continue”, “strategy”, “aspire”, “target”, “forecast”, “project”, “estimate”, “should”, “could”, “may” and similar expressions or words and variations thereof that convey the prospective nature of events or outcomes generally indicative of forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this release are made as of the date hereof and the Company undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying examples of factors, risks and uncertainties that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, the impact of COVID-19 on volatility in the U.S. and world financial markets, on general economic conditions and GDP in the U.S. and worldwide, and on the Company’s own operations and personnel. Many other factors could cause actual results to differ from Moody’s outlook, including credit market disruptions or economic slowdowns, which could affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, credit quality concerns, changes in interest rates and other volatility in the financial markets such as that due to Brexit and uncertainty as companies transition away from LIBOR; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to Moody’s Investors Service’s rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which the Company may be subject from time to time; U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if the Company fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the ability of the Company to successfully integrate such acquired businesses; currency and foreign exchange volatility; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are currently, or in the future could be, amplified by the COVID-19 outbreak, and are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2020 and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it.
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ST. JOHN’S, Newfoundland--(BUSINESS WIRE)--$ARR.TO #Renewable--Altius Renewable Royalties (TSX:ARR) (OTCQX: ATRWF) (“ARR”) reports that its joint venture subsidiary Great Bay Renewables (“GBR”) has closed a US$52.5 million royalty investment with Northleaf Capital Partners (“Northleaf”) related to three operating-stage wind and solar renewable energy projects located in Texas. GBR is a joint venture company of ARR and funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo Funds”).
Cotton Plains Portfolio Royalty Acquisition
The newly acquired revenue-based royalty portfolio includes: (1) the 151 MW Old Settler wind project, (2) the 50 MW Cotton Plains wind project, and (3) the 15 MW Phantom Solar project (collectively, the “Projects”). The output from Cotton Plains and Phantom Solar is sold at a fixed price under long-term contracts with the US Department of Defense through January 2045, while the output from Old Settler will be sold into the ERCOT market. The three projects have been in commercial operation since 2017.
The royalty investment has been structured using royalty rates that vary over time and provide GBR with US$ 4-7 million per year over the first 10 years of the investment. The structure also allows ARR to achieve its investment hurdle targets while optimizing Northleaf’s project level cash flow profile. The royalty funding will be used to repay existing debt financing and provide additional working capital.
Jared Waldron, Managing Director at Northleaf, said, “We are pleased to be partnering with GBR to implement an innovative financing solution that will create value for our investors. As long-term assets producing stable cash flows from the generation of clean energy, the Projects will benefit from the long-term financing afforded by this new royalty structure.”
ARR and Apollo Funds have agreed to fund the Northleaf investment with approximately 80% of the capital provided by Apollo Funds and the balance of US$11.6 million to be funded directly by ARR. Apollo Funds have now met their commitment to earn a full 50% ownership interest in GBR. Going forward, ARR and Apollo Funds are expected to fund new opportunities on an equal basis.
Additional information concerning the Northleaf transaction can be found at arr.energy and in a SEDAR-filed Material Change Report.
New Developer Royalty
ARR is also pleased to announce that it has been notified of the sale of a 500 MW renewable energy project in Texas from one of its funded developer partners to a confidential buyer and the creation of a 2.5% royalty in favour of GBR. GBR has been informed that the project is currently slated to issue notice-to-proceed in early 2022.
Brian Dalton, CEO of ARR, commented, “Our GBR joint venture subsidiary expects to become cash flow positive in 2022. This milestone has been reached sooner than expected and is a tremendous credit to the team. Moreover, the recent completion of investments related to four operational stage assets has implications for the potential scope of future capital deployment and the larger role we can play in enabling the clean energy transition. This new funding avenue, combined with the continuing strong demand for the new projects being created by our developer partners, has resulted in the rapid growth of our royalty portfolio to now cover more than 3 GW of renewable energy projects.”
Forward-Looking Information
This press release contains forward-looking information. Such information includes but is not limited to statements concerning use of proceeds, expected annual revenue and cash flow expectations, achievement of investment hurdle rates, and future investment potential. The use of forward-looking information in this press release is based on reasonable assumptions and beliefs of management in light of the information available to them at the time such statements are made. The forward-looking information contained in the press release is presented for the purpose of assisting ARR shareholders in understanding this transaction and the expected impact on ARR. By its nature, forward-looking information requires ARR to make assumptions and is subject to inherent risks and uncertainties that give rise to the possibility that actual results could differ materially from such statements Although the Company believes that the predictions, forecasts, expectations or conclusions reflected in the forward-looking information are reasonable, it can give no assurance that such matters will prove to have been correct. This forward-looking information is subject to uncertainties and other factors that could cause actual results to differ materially from such statements. These factors include but are not limited to: changes in general industry, market and economic conditions, equipment performance, power price changes, seasonality, weather events, outcomes from litigation and other variables. The forward-looking information included in this press release is expressly qualified by this cautionary statement and is made as of the date of this press release. ARR does not undertake any obligation to publicly update or revise any forward-looking information except as required by Canadian securities laws.
About Northleaf Capital Partners
Northleaf Capital Partners is a global private markets investment firm with US$17 billion in private equity, private credit, and infrastructure commitments under management on behalf of public, corporate, and multi-employer pension plans, endowments, foundations, financial institutions, and family offices. Northleaf’s 150-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park, and Melbourne, is focused exclusively on sourcing, evaluating, and managing private market investments globally. Northleaf’s portfolio includes more than 400 active investments in 35 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.
About ARR
ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators through its joint venture Great Bay Renewables. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
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DUBLIN--(BUSINESS WIRE)--The "Global Pleasure and Sporting Boats Industry to 2026" report has been added to ResearchAndMarkets.com's offering.
The report offers the most up to date industry data on the actual market situation, and future outlook of the pleasure and sporting boats market in the world.
The research includes historic data from 2018 to 2020 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in a readily accessible document with clearly presented tables and graphs.
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Strategic partnership to create Green Machine Equipment-branded, zero-emission vehicles for use in dense, urban areas, and corporate campuses
BUFFALO, N.Y.--(BUSINESS WIRE)--#Bobcat--Viridi Parente, Inc., a developer of innovative battery technology that can be safely installed and operated in nearly any environment or location, is partnering with Garia Utility, the Denmark-based leader in low-speed utility vehicles, to develop last-mile, low-speed electric utility vehicles for the U.S. market. These vehicles will be manufactured in Buffalo, New York, and branded under the Green Machine Equipment name.
An image of the Green Machine electric, low-speed utility vehicle may be downloaded here - https://rb.gy/uywc9e.
"If we are going to have any impact on decarbonization, we need to rethink our supply chain strategies and equipment options, especially for last-mile delivery," said Jon M. Williams, CEO of Viridi Parente. "Green Machine couldn't ask for a better partner to introduce clean utility vehicles into the U.S. than Garia. Its proven technology is already deployed throughout Europe, and the compact design is ideally suited for use in dense, urban areas in the U.S."
Garia chose to partner with Green Machine because of its proprietary, durable, and safe battery technology that is being used by leading construction brands such as Bobcat and Case. Green Machine was the first manufacturer to introduce all-electric heavy construction and industrial equipment into the market and has perfected the technology with more than 250,000 hours of robust field testing.
Garia Utility has over 900 last-mile vehicles deployed on delivery routes in Sweden through a contract with PostNord (the Swedish Postal Service). The combination of Green Machine's propriety technology and Garia's know-how in the last-mile vehicle space creates a superb clean vehicle that replaces standard diesel or gasoline-powered utility vehicles. For U.S. markets, Green Machine battery technology will increase the range and adaptability of the vehicle.
"After evaluating many potential partners, Viridi Parente was the obvious choice," said Jakob Holstein, CEO of Garia. "Not only did they have the best technology for our needs, but their technology had the most field experience. We were also aligned well on leadership and values."
Green Machine's electric utility vehicles are unlike anything currently available in the U.S. The compact design allows users to access narrow spaces such as constricted roadways, tight alleys, or compressed park or campus pathways. In addition to the traditional model, Green Machine has installed its technology into a right-hand-drive chassis from Garia that squarely fits any delivery needs.
Still dominated by fossil-fuel-powered trucks and vehicles, the supply chain remains a significant source of greenhouse gasses. In New York, transportation accounts for about 36% of the state's carbon emissions. While the nation's reliance on an efficient, reliable supply chain increases, so does the desire to transition long-haul and last-mile delivery to zero-emission vehicle options. McKinsey forecasts that the number of electric utility vehicles will grow from just 5,000 in 2018 to more than 8 million by 2030.
About Viridi Parente
Viridi Parente (Viridi) is a disruptive energy company in Buffalo, New York, that is changing the way we use energy, improving systems, communities, and lives. Viridi deploys safe battery technology into applications that have been historically dominated by fossil fuel energy sources. Its innovative architecture is constructed from materials used for aerospace and military applications and is the only design in the market that can be safely installed and operated in nearly any environment or location. Through its subsidiary, Green Machine Equipment, Viridi is bringing quiet, fully renewable mobile energy solutions to products in construction equipment, waste disposal, last-mile delivery, and other portable industrial markets. Through its subsidiary, Volta Energy Products, Viridi brings stationary, point-of-use storage technology that is safe, locatable, and reliable to industrial, medical, commercial, municipal, and residential building applications. Learn more at: www.viridiparente.com.
About Garia A/S
Garia is a manufacturer of utility vehicles, premium golf, and leisure cars. Founded in 2005 by Anders Lynge, Garia is privately held by Lars Larsen Group and headquartered in Denmark with a subsidiary in the U.S.
In 2015, with ten years of experience in the luxury electric vehicle market, Garia embarked on an entirely new journey: the Garia Utility. A compact electric utility vehicle that combines reliability, ergonomics, and zero emissions with comfort, functionality, and thoughtful design. Made of high-quality European components, the Garia Utility is one of a kind.
Learn more about the Garia Utility at gariautility.com
Media Contact:
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ZURICH--(BUSINESS WIRE)--ABB is today launching an innovative all-in-one Electric Vehicle (EV) charger, which provides the fastest charging experience on the market.
ABB’s new Terra 360 is a modular charger which can simultaneously charge up to four vehicles with dynamic power distribution. This means that drivers will not have to wait if somebody else is already charging ahead of them. They simply pull up to another plug. The new charger has a maximum output of 360 kW and is capable of fully charging any electric car in 15 minutes or less, meeting the needs of a variety of EV users, whether they need a fast charge or to top their battery up while grocery shopping.
“With governments around the world writing public policy that favors electric vehicles and charging networks to combat climate change, the demand for EV charging infrastructure, especially charging stations that are fast, convenient and easy to operate is higher than ever,” said Frank Muehlon, President of ABB’s E-mobility Division. “The Terra 360, with charging options that fit a variety of needs, is the key to fulfilling that demand and accelerating e-mobility adoption globally.”
“It’s an exciting day for ABB, who as the global leader in electric vehicle fast charging, is playing a key role in enabling a low carbon society,” said Theodor Swedjemark, Chief Communications and Sustainability Officer at ABB. “With road transport accounting for nearly a fifth of global CO2 emissions, e-mobility is critical to achieving the Paris climate goal. We will also lead by example by switching our entire fleet of more than 10,000 vehicles to non-emitting vehicles.”
Available in Europe from the end of 2021, and in the USA, Latin America and Asia Pacific regions in 2022, Terra 360 is designed with the daily needs and expectations of EV drivers in mind. Leveraging the rich field experience gained by ABB E-mobility’s large installed base, the Terra 360 delivers speed and convenience along with comfort, ease-of-use and a sense of familiarity.
Its innovative lighting system guides the user through the charging process and shows the State of Charge (SoC) of the EV battery and the residual time before the end of an optimal charge session. The world’s fastest EV charger is also wheelchair accessible and features an ergonomic cable management system that helps drivers plug in quickly with minimal effort.
As well as serving the needs of private EV drivers at fueling stations, convenience stores and retail locations, Terra 360 chargers can also be installed on an organization’s commercial premises to charge electric fleet cars, vans and trucks. This gives owners the flexibility to charge up to four vehicles overnight or to give a quick refill to their EVs in the day. Because Terra 360 chargers have a small footprint, they can be installed in small depots or parking lots where space is at a premium.
Terra 360 chargers are fully customizable. To personalize the appearance, customers can ‘brand’ the chargers by using different foiling or changing the color of the LED light strips. There is also the option to include an integrated 27” advertisement screen to play video and pictures.
ABB is a world leader in electric vehicle infrastructure, offering the full range of charging and electrification solutions for electric cars, electric and hybrid buses, vans, trucks, ships and railways. ABB entered the e-mobility market back in 2010, and today has sold more than 460,000 electric vehicle chargers across more than 88 markets; over 21,000 DC fast chargers and 440,000 AC chargers, including those sold through Chargedot.
ABB high-power chargers are already being deployed around the world through the company’s partnerships with international charging operators such as IONITY and Electrify America.
To explore ABB’s electric vehicle charging technology, visit www.abb.com/ev-charging.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
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LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent mobility ecosystem company, today unveiled an inside look at an important milestone in the implementation of its manufacturing process for the FF 91. The new video highlights Gonzalez Group preparing and testing equipment for future installation at the FF manufacturing plant in Hanford, CA.
The recent video showcases the fully automated system to manufacture the lightweight aluminum closures for the FF 91, and also features part of robot health check and dry run activity. This necessary step is part of the programming confirmation with FF supplier (Gonzalez Group) as preparation for production builds which will be built at our Hanford Manufacturing facility. A link to the full video can be found here: https://genesis-cdn.ff.com/press_room/2126_Gonzalez_EditTA_v03B_ffcom.mp4
“This next step in the manufacturing process will ensure we’re prepared for our upcoming pre-production builds,” said Matt Tall, Vice President of Manufacturing. “We’re incredibly excited to continue on this path and deliver the ultimate intelligent techluxury FF 91 on schedule.”
FF continues to prepare the Hanford manufacturing site for the installation of manufacturing equipment, which will now speed up due to funding received in connection with its recent listing as a public company on Nasdaq. The resources to complete the Hanford manufacturing plant are in-hand, with construction and equipment installation mapped out to meet its production goal, which is within 12 months of the closing of its merger that occurred in late July of this year.
Faraday Future’s recent listing on NASDAQ (ticker symbol: FFIE) raised capital intended to finance the release of FF’s flagship vehicle, the FF 91, and pave the way for the FF 81 entry to market. The FF 91 Futurist Alliance Edition and FF 91 Futurist models represent the next generation of intelligent techluxury EVs. They are high-performance EVs, all-in-one all-ability cars, and ultimate robotic vehicles that allow users to experience the third internet living space. The models also encompass extreme technology, an ultimate user experience and a complete ecosystem.
Users can reserve an FF 91 Futurist model now via the FF intelligent APP or FF.com at: https://www.ff.com/us/reserve
Download the new FF intelligent APP at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online
ABOUT FARADAY FUTURE
Established in May 2014, FF is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, FF has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, FF was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.” and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the ultimate intelligent techluxury brand positioning, FF’s first flagship product FF 91 Futurist is equipped with unbeatable product power. It is not just a high-performance EV, an all-ability car, and an ultimate robotic vehicle, but also the third internet living space.
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NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside FF’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the preliminary registration statement on Form S-1 recently filed by FF and other documents filed by FF from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FF does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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AKRON, Ohio--(BUSINESS WIRE)--$BW #wastetoenergy--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has received an award for more than $38 million to supply waste-to-energy technologies for municipal waste projects in East Asia.
B&W Renewable will design, manufacture and supply its Vølund DynaGrate® combustion grates and provide technical site services, in addition to designs for the plants’ fuel-feeding and ash-removal equipment. B&W also will supply a highly efficient, advanced waste-to-energy boiler under a technology license. The facilities will be capable of processing approximately 2 million tons of municipal waste annually.
“B&W is focused on accelerating our growth in the Asia-Pacific region, particularly for our renewable energy and environmental businesses,” said Jimmy Morgan, B&W Chief Operating Officer. “These types of projects demonstrate the tremendous opportunity for clean, renewable energy throughout Asia. Our advanced waste-to-energy technologies help customers provide reliable, baseload power, while also protecting the environment. These highly efficient plants reduce reliance on landfills and combat climate change caused by significant methane emissions from waste that would otherwise end up in those landfills. B&W also offers state-of-the-art carbon capture technologies that would allow customers to capture CO2 from waste-to-energy facilities, if they choose, and eliminate greenhouse gas emissions entirely.”
“As Asia’s need for electricity grows and urban centers look for more efficient and climate-conscious ways to deal with municipal waste, we expect waste-to-energy to play an increasing and important role in the region’s energy mix,” Morgan said. “This directly aligns with our organic growth strategy and operational expansion within the Asia-Pacific region.”
B&W Renewable’s waste-to-energy technologies are a vital part of a strong and sustainable waste management chain and are complementary to recycling.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.
About B&W Renewable
Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable’s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an award to supply and license waste-to-energy technologies for waste-to-energy facilities in East Asia. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
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Babcock & Wilcox
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HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast to discuss its third quarter 2021 operational and financial results on Tuesday, November 2, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
Join the webcast by visiting Magnolia’s website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia’s third quarter 2021 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call.
About Magnolia Oil & Gas
Magnolia is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.
Brian Corales
713-842-9036
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Pricing model allows for hardware and software upgrades, ongoing technical service and support for the nSpec suite of automated optical inspection tools
BROOKLYN, N.Y.--(BUSINESS WIRE)--#ArtificialIntelligence--Nanotronics, developer of nSpec, the world’s most advanced robotic microscope for industrial inspection, today launched a subscription pricing model that will lower costs for their customers, increase speed of hardware and software upgrades, and provide quicker access to technical service and support. This seamless integration into manufacturing ensures that Nanotronics’ customers will have access to the latest technologies to support rapid development and innovation and make their quality control more efficient.
“The subscription model provides a better-aligned, more integrated partnership that will enable nSpec to grow with your business,” said Matthew Putman, CEO and co-founder of Nanotronics. “Manufacturers improving their facilities and processes can now easily transition to modular hardware that seamlessly fits into new workflows, incorporating our latest technologies without additional cost.”
Nanotronics' new monthly subscription provides customers with access to the nSpec suite as a service without having to purchase capital equipment. Subscription includes the machine itself, hardware replacements and upgrades, software updates, and technical service and operator training, with configurations geared towards applications and need.
Industry agnostic, Nanotronics’ solutions are integrated throughout various production environments encompassing the aerospace, electronics, and healthcare markets.
“Our systems’ flexibility allows us to develop solutions for a wide-breadth of customers,” said Julie Orlando, Chief Product Officer, Nanotronics. “We create a uniform software and hardware platform that provides our customers with the ability to tailor our systems to meet their specific requirements from front-end substrate manufacturing to back-end packaging and everything in between.”
The subscription model guarantees the latest inspection technology with the ability to scale with your process.
To learn more about the subscription model, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
About Nanotronics
Nanotronics is an advanced machines and intelligence company that has redefined factory control through the invention of a platform that combines AI, automation and sophisticated imaging to assist human ingenuity in detecting flaws and anomalies in manufacturing. A leading developer of optical inspection tools for the semiconductor industry, Nanotronics uses hardware and software to provide industrial-scale, high-throughput, super imaging systems.
Deployed across eight countries and industry agnostic, Nanotronics works with leading-edge companies, from aerospace, to electronics, to healthcare, to drive up yield, reduce footprint and waste, lower costs, and speed up design iteration.
To learn more visit https://nanotronics.co.
Jack Kerwin
Business Development Associate
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Company intends to reduce manufacturing-related emissions intensity by 30% and products-related emissions intensity by 15% by 2030
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announced today that it intends to reduce greenhouse gas emissions intensity from its operations and energy products by 2030, setting impactful, attainable and measurable targets for the company. The company plans to reduce Scope 1 and Scope 2 emissions intensity from operations by 30% and Scope 3 emissions intensity of its energy products by 15%, below 2019 levels.
“We believe our targets will drive innovation and create shareholder value,” said Phillips 66 Chairman and CEO Greg Garland. “We support the ambitions of the Paris Agreement, and Phillips 66 will do its part by improving energy efficiency and developing lower-carbon technologies.”
Phillips 66 previously disclosed changes to its annual bonus program that are intended to reinforce its priorities around greenhouse gas emissions reductions and lower-carbon efforts.
In a presentation posted on Phillips66.com, the company outlines how it plans to achieve its emissions reduction goals while maintaining its focus on returns. Phillips 66 will continue to invest in improving the energy efficiency of its assets, six of which have already earned ENERGY STAR certifications since 2012 from the Environmental Protection Agency. Additionally, the company plans to increase the production of renewable fuels, advance the electric vehicle battery supply chain, implement carbon capture technologies at select facilities, and participate in commercial-scale lower-carbon hydrogen production. The company’s investments to meet these goals will be consistent with its disciplined approach to capital allocation.
“The challenges the energy industry and society are facing are great, but Phillips 66 is a company of problem-solvers,” Garland said. “We are committed to being part of the solution and helping the world address climate change.”
The targets set by Phillips 66 build on the company’s lower-carbon strategy and leverage its Emerging Energy group. The company has made meaningful progress toward developing a lower-carbon business platform, which includes expanding access to renewable feedstocks, producing renewable fuels, advancing sustainable aviation fuel and participating in the U.S. supply chain for lithium-ion batteries.
Phillips 66 is also one of the few downstream energy companies with an in-house research and development organization. The Energy Research & Innovation group works on developing and commercializing lower-carbon technologies to support the energy transition, including sodium-ion batteries. The company has active U.S. patents in a number of areas, including biofuels, carbon capture and sequestration, fuel cells and low-carbon hydrogen.
Scope 1 emissions are direct emissions from Phillips 66’s operations — refineries, compressors and other equipment, for example. Scope 2 are indirect emissions resulting from the generation of electricity and steam that the company purchases to support its business activities. Scope 3 emissions are indirect emissions related to consumer use of products the company makes.
Go to the Sustainability section of the Phillips 66 website for a video message from Greg Garland, a presentation with more details on the emissions reduction targets, and the company’s Sustainability & ESG Overview.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $57 billion of assets as of June 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the continuing effects of the COVID-19 pandemic and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels or greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; the pace of technological advancements and industry innovation, including those focused on reducing GHG emissions and advancing other climate-related initiatives, and our ability to take advantage of those innovations and developments; our ability to identify and execute opportunities, and the economic viability of those opportunities; the ability of our existing assets and expertise to support the growth of, and transition to, various renewable and alternative energy opportunities, including through the positioning and optimization of our assets; our ability to efficiently and economically reduce the carbon intensity of our operations; the impacts of acquisitions or dispositions; investments required as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates or carbon taxes); consumer preferences or demand and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Jeff Dietert (investors)
832-765-2297
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Industry leaders to integrate AVEVA PI System with Agora edge technologies and cloud-based production solutions enabled by the DELFI environment from Schlumberger
LONDON--(BUSINESS WIRE)--Schlumberger and AVEVA today announced an agreement to integrate edge, AI and cloud digital solutions to help operators optimize oil and gas production. The companies will work together to streamline how energy operators acquire, process and action field data for enhanced wellsite efficiency and performance. Initial focus of the collaboration includes linking edge systems to applications in the DELFI* cognitive E&P environment to better manage equipment health and optimize performance.
“This partnership brings together our edge and cloud solutions with the AVEVA PI System™ to seamlessly liberate access to data accelerating insights and action,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “By integrating our domain expertise, secure edge technology and digital applications in the DELFI environment with AVEVA, we will enable customers to increase efficiency and transform their production operations.”
“Digital transformation of critical infrastructure requires a strategic vision that transcends technology to drive efficiency, achieve profitable business outcomes and deliver sustainability,” said Andrew McCloskey, Chief Technology Officer, AVEVA. “Recent macroeconomic events have highlighted the need for agility throughout all industries. Our collaboration with Schlumberger will drive operational agility and engineering efficiency, while also enabling swifter delivery of new products and services to make assets and operations run more smoothly.”
The collaboration will bring to market the IoT and cloud capabilities of both companies. This includes the data management platform capabilities of the AVEVA PI System and Schlumberger domain expertise and analytics capabilities provided by Agora* edge AI and IoT solutions and the DELFI environment. The companies also plan joint technology integrations, sales and service support, and go-to-market activity.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions, and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
About AVEVA
AVEVA is a global leader in industrial software, driving digital transformation and sustainability. By connecting the power of information and artificial intelligence with human insight, AVEVA enables teams to use their data to unlock new value. We call this Performance Intelligence. AVEVA’s comprehensive portfolio enables more than 20,000 industrial enterprises to engineer smarter, operate better and drive sustainable efficiency. AVEVA supports customers through a trusted ecosystem that includes 5,500 partners and 5,700 certified developers around the world. The company is headquartered in Cambridge, UK, with over 6,500 employees and 90 offices in over 40 countries. Learn more at www.aveva.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies and partnerships. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in these forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.
*Mark of Schlumberger
Copyright © 2021 AVEVA Solutions Limited. All rights reserved. AVEVA Solutions Limited is owned by AVEVA Group plc. AVEVA, the AVEVA logos and AVEVA product names are trademarks or registered trademarks of AVEVA Group plc or its subsidiaries in the United Kingdom and other countries. Other brands and product- names are the trademarks of their respective companies.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
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HOUSTON--(BUSINESS WIRE)--Nine Energy Service, Inc. (NYSE:NINE) announced today that it has scheduled its third quarter 2021 earnings conference call for Thursday, November 4, 2021 at 9:00 am Central Time. During the call, Nine will discuss its financial and operating results for the quarter ended September 30, 2021, which are expected to be released prior to the conference call.
Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the “Nine Energy Service Earnings Call”. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.
For those who cannot listen to the live call, a telephonic replay of the call will be available through November 18, 2021 and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and entering the passcode of 13723609.
About Nine Energy Service
Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.
For more information on the Company, please visit Nine’s website at nineenergyservice.com.
Nine Energy Service Investor Contact:
Heather Schmidt
Vice President, Strategic Development, Investor Relations and Marketing
(281) 730-5113
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Company recognized for successful deployment of artificial intelligence and data analytics solution across utility organizations
NEW YORK--(BUSINESS WIRE)--Bidgely has been named a finalist in the 23rd annual S&P Global Platts Global Energy Awards. The 2021 Finalists were announced by program host S&P Global Platts, the leading global provider of energy and commodities information and spot market benchmarks. Often described as “the Oscars of the energy industry,” the S&P Global Platts Global Energy Awards recognizes achievements in innovation, leadership, and company performance in 22 categories spanning the entire energy complex.
“We are honored to be named a finalist in S&P Global Platts Global Energy Awards ‘Grid Edge’ category alongside fellow industry innovators for our work in advancing today’s electric grid,” said Gautam Aggarwal, chief business officer of Bidgely. “For the last decade, Bidgely’s UtilityAI platform has remained at the forefront of grid edge innovation. We provide utilities and energy retailers enterprise analytics tools to transform energy data into personalized customer experiences and actionable insights for achieving strategic goals such as grid planning, load shifting, decarbonization and electrification.”
Most recently, as the COVID pandemic greatly affected both energy supplies and demands, Bidgely’s UtilityAI platform enabled utilities to leverage digital communications in real time and implement new programs that addressed current challenges. Designed to more effectively engage with a broader range of customers, specifically low-to-medium income households, Bidgely’s platform helped utilities not only maintain operations during unprecedented times but also support their most vulnerable customers.
Jenny Salinas, Vice President, Marketing, S&P Global Platts commented, “This year’s complement of 196 finalists truly indicates the outstanding innovation and supreme leadership occurring in so many sectors across our industries. Companies are tackling critical issues such as emissions control, digitization, investment to improve the quality of life, and so much more. We are proud to honor these individuals and companies on their achievements.”
The Global Energy Awards’ independent panel of esteemed judges will select winners for each award category from the corresponding group of finalists. The ‘Energy Company of the Year’ will be chosen from the entire list of finalists.
The ‘Climate Leader Award-Power’ is unique as its finalists and winner are selected by S&P Global Sustainable1, which measures the public disclosure of global power companies included in the S&P Global LargeMidcap Index and the annual research engagement of S&P Global Trucost.
The winners will be announced at the S&P Global Platts Global Energy Awards black-tie gala on December 9th in New York City. This year, the event will be held in person at Cipriani Wall Street and will follow all COVID related guidelines. Expected attendance is 400 energy, financial, and business executives.
To view the complete list of Award categories and finalists, as well as more information on the Awards and upcoming ceremony, visit the website: www.globalenergyawards.com.
To learn more about Bidgely’s Grid Edge Analytics, visit bidgely.com/solutions/enterprise-analytics-workbench.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing, and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture, and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments, and individuals to make decisions with confidence. For more information, visit http://spglobal.com/platts.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Christine Bennett
Bidgely
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