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)--Regulatory News:
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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Hilary Cecconi – Head of External Communications, AVEVA
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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Advanced technology paired with global hydrogen hubs means lower transportation costs and fewer emissions
AUSTIN, Texas--(BUSINESS WIRE)--Global industrial software and technology leader Emerson (NYSE: EMR) announced today a multiyear strategic framework agreement with BayoTech, an innovator in hydrogen solutions, to accelerate the delivery of hydrogen around the world. Emerson will deliver advanced automation technologies, software and products to enable BayoTech to build hundreds of hydrogen units to produce cleaner, lower-cost hydrogen.
“Across the globe, industries and organizations are searching for sustainable solutions to solve their most pressing problems,” said Mike Train, chief sustainability officer of Emerson. “Emerson’s agreement with BayoTech accelerates the development and adoption of hydrogen at scale as a critical step forward in diversifying our global energy mix.”
BayoTech’s modular hydrogen generation units produce up to 1,000 kilograms per day, enough to fill as many as 200 hydrogen fuel cell vehicles. BayoTech's patented technology requires less feedstock, which means lower carbon emissions and less cost to produce hydrogen than traditional reformers. To meet growing hydrogen demand, BayoTech is leveraging its core technology to develop 5-, 10- and 20-tonne units, which will drive further efficiencies. Using Emerson’s programmable logic controller and edge control technologies, remote monitoring and Microsoft Azure IoT Suite, the unmanned, fully autonomous skids will operate and be monitored remotely from BayoTech’s Albuquerque, New Mexico headquarters.
“BayoTech plans on becoming the largest distributed hydrogen company in the world,” said Mo Vargas, CEO of BayoTech. “Emerson’s advanced technology is the right choice to support our vision of disrupting the established centralized hydrogen supply chain with a new, highly efficient model of local autonomous production hubs.”
“This agreement between BayoTech and Emerson will make hydrogen technology more accessible to more places across the world,” said Linh Austin, COO of BayoTech. “Together, we are creating a solution to lessen the carbon footprint of countless customers as we build a sustainable – and more affordable – global hydrogen supply chain.”
These hydrogen generation units are already being built and will be placed in BayoGaaS™ hydrogen hubs and at customer sites throughout the United States and other global locations. From the hubs, locally produced hydrogen will be distributed to nearby consumers via BayoTech high-pressure gas transport and storage equipment, which can transport three times more hydrogen per trip than traditional steel tube trailers. The higher payloads translate into lower transportation costs, higher driver productivity and less carbon emissions.
The strategic framework agreement with BayoTech supports Emerson’s commitment to creating innovative technologies and industry expertise in the rapidly developing hydrogen sector. From storing renewable energy to fueling heavy transport, climate-friendly hydrogen has several energy and non-energy uses. Harnessing hydrogen enables industries to choose clean energy as a cost-effective solution to their business needs.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
About BayoTech
BayoTech, an innovator in hydrogen solutions, is committed to addressing the global need for reliable, cost-effective, and low-carbon hydrogen. BayoTech sites hydrogen production close to demand and distributes it to nearby consumers via high-pressure gas transport and storage equipment. Customers are accelerating the decarbonization of their energy and transportation systems through BayoTech's supply of hydrogen molecules, sale and lease of equipment, and zero-emission power solutions. Learn more at www.bayotech.us.
For Emerson
Denise Clarke This email address is being protected from spambots. You need JavaScript enabled to view it.
512.587.5879
First System Delivered to California and Will be Commissioned in October
WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Inc. (“ESS” or “the Company”), a U.S. manufacturer of long-duration batteries, today announced that it has entered into a framework agreement with SB Energy, a wholly owned subsidiary of SoftBank Group Corp, to deploy two gigawatt-hours (2 GWh) of ESS batteries through 2026. The agreement demonstrates ESS and SB Energy’s shared commitment and vision of a global shift to renewables and decarbonization of the grid. ESS recently announced it would become a public company through a merger with a special purpose acquisition company, ACON S2 Acquisition Corp. (NASDAQ: STWO).
In connection with the agreement, the first ESS system has already been delivered to an SB Energy location in Davis, California, and will be commissioned in October 2021. SB Energy plans to install additional ESS flow battery systems to complement its expanding portfolio of solar power projects in Texas and California, two of the fastest-growing markets for long-duration storage in the U.S. With its iron-, salt-, and water-based batteries, ESS systems help customers enhance grid resiliency while eliminating the risk of the batteries catching fire, particularly in wildfire-prone areas such as California.
“ESS’s unique ability to manufacture and ship batteries using iron, salt, and water is a game-changer, enabling SB Energy to offer our customers safe, sustainable and low-cost energy storage today,” said Rich Hossfeld, Co-Chief Executive Officer at SB Energy and ESS Board Member. “Long-duration storage is absolutely critical to providing flexible, affordable renewable energy at scale and aligns perfectly with the Biden administration’s ambitious clean energy initiatives. SB Energy is excited to continue its partnership with ESS and deploy the company’s domestically manufactured batteries into the vast and rapidly growing market for energy storage.”
“This agreement exemplifies the accelerating demand for long-duration energy storage and reinforces our strong partnership with SB Energy to supply safe and sustainable technology built in the U.S.,” said Eric Dresselhuys, ESS CEO. “The energy transition will require massive amounts of storage capacity in the coming years and we are focused on scaling up our manufacturing capacity to help meet that demand. We are fortunate to have such great partners as SB Energy and Breakthrough Energy Ventures and look forward to a long and expanding partnership.”
“Long-duration energy storage is a critical innovation needed to support the world’s transition to clean, renewable energy. BEV is proud to have supported Eric and his team since our original investment in ESS back in 2019. Today we remain confident that ESS is well-positioned to scale its systems globally, especially partnering with SB Energy,” said Carmichael Roberts, Breakthrough Energy Ventures.
ESS also recently announced that it had closed an order with Enel Green Power España to deliver 17 ESS Energy Warehouse™ battery systems with a combined capacity of 8.5 MWh. The project will support a solar farm in Spain as a part of a broader EU-wide engagement, providing resilience for the local power grid.
A video highlighting ESS’s leading battery storage technology and state-of-the-art manufacturing facilities can be found here.
SB Energy has grown quickly to become a leading solar, storage and technology platform across the U.S. SB Energy owns five utility-scale solar projects totaling 1.7 gigawatts (GW) in Texas and California, which are currently in operation or construction, and is developing a multi-gigawatt pipeline of domestic solar and storage projects to be built over the next few years.
About ESS, Inc.
ESS Inc. designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information visit www.essinc.com.
About SB Energy
SB Energy, a wholly owned subsidiary of SoftBank Group Corp., is a leading utility-scale solar, energy storage, and technology platform. We develop, construct, and own and operate some of the largest and most technically advanced renewable projects across the United States. SB Energy’s mission is to provide flexible renewable energy at scale, accelerating the global energy transition, and benefiting our planet, customers, communities, and people. For more information, visit SBEnergy.com.
About ACON S2 Acquisition Corp.
STWO (NASDAQ: STWO) is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. STWO has a focus on businesses that employ a strategic approach to sustainability; that is, a business whose pursuit of sustainability—environmental, social and/or economic—is core to driving its performance and success. STWO’s sponsor is an affiliate of ACON Investments, L.L.C.
About ACON Investments, L.L.C.
ACON Investments, L.L.C., headquartered in Washington DC, is an international private equity firm investing in North America, Latin America and Europe. Founded in 1996, ACON Investments, L.L.C. has managed approximately $6 billion of capital to date and has professionals in Washington DC, Los Angeles, Mexico City, São Paulo, Bogotá and Madrid. For more information, visit www.aconinvestments.com.
Forward-Looking Statements
This communication contains certain forward-looking statements, including statements regarding STWO’s, ESS’ or their management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on STWO’s and ESS’ current expectations and beliefs concerning future developments and their potential effects on STWO, ESS or any successor entity of the proposed transactions. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: (i) the risk that the proposed transactions may not be completed in a timely manner or at all, which may adversely affect the price of STWO’s securities, (ii) the failure to satisfy the conditions to the consummation of the proposed transactions, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination, (iv) the effect of the announcement or pendency of the proposed transactions on ESS’ business relationships, operating results and business generally, (v) risks that the proposed transactions disrupt current plans and operations of ESS, (vi) changes in the competitive and highly regulated industries in which ESS plans to operate, variations in operating performance across competitors, changes in laws and regulations affecting ESS’ business and changes in the combined capital structure and (vii) the ability to implement business plans, forecasts and other expectations after the completion of the proposed transactions, and identify and realize additional opportunities. There can be no assurance that the future developments affecting STWO, ESS or any successor entity of the proposed transactions will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond STWO’s or ESS’ control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of STWO’s registration statement on Form S-1 (File No. 333-248515), the registration statement on Form S-4 (File No. 333-257232) filed in connection with the business combination, and other documents filed by STWO 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. Except as required by law, STWO and ESS are not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither STWO nor ESS gives any assurance that either the STWO or ESS, or the combined company, will achieve its expectations.
Important Information About the Proposed Business Combination and Where to Find It
STWO has filed, and the SEC has declared effective, a registration statement on Form S-4 containing a definitive proxy statement/prospectus of STWO relating to the proposed Business Combination. STWO has mailed the definitive proxy statement/prospectus and other relevant documents to its shareholders. Investors, STWO’s shareholders and other interested persons are advised to read the definitive proxy statement/prospectus in connection with STWO’s solicitation of proxies for the General Meeting to be held to approve the Business Combination as these materials will contain important information about ESS and STWO and the proposed Business Combination. The definitive proxy statement/prospectus has been mailed to the shareholders of STWO as of the record date of August 16, 2021; shareholders that hold their shares in registered form are entitled to vote their shares held on the date of the meeting. Shareholders are also able to obtain copies of the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, at the SEC’s website at http://www.sec.gov, or by directing a request to: 1133 Connecticut Avenue NW, Ste. 700 Washington, DC 20036.
Participants in the Solicitation
STWO and its directors and executive officers may be deemed participants in the solicitation of proxies from STWO’s shareholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in STWO are included in the definitive proxy statement/prospectus for the proposed Business Combination and are available at www.sec.gov.
ESS and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of STWO in connection with the proposed Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed Business Combination are included in the definitive proxy statement/prospectus for the proposed Business Combination.
For ESS Inc.
Investors:
Erik Bylin
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Media:
Eugene Hunt
Trevi Communications for ESS Inc.
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978-750-0333 x.101
For SB Energy:
Sard Verbinnen & Co
Hannah Dunning / Benjamin Spicehandler
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For ACON S2:
Emily Claffey/Julie Rudnick/Kevin Siegel
Sard Verbinnen & Co
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Sustaining Futures, Raising Communities program announces new partnership, next steps in project
NORTH CANTON, Ohio--(BUSINESS WIRE)--As part of its Sustaining Futures, Raising Communities program, Saint-Gobain North America (SGNA) today announced its new partnership with Habitat for Humanity East Central Ohio. SGNA will donate the Sustaining Futures, Raising Communities home to Habitat, which will then sell the home with an affordable mortgage to a family who will benefit most from this revolutionary home concept. The family will move into the home in North Canton, Ohio, by early 2022.
“We are immensely proud to work with an organization that has a strong track record and commitment to making homes more attainable for all families,” said Jean Angus, CEO of Saint-Gobain Life Sciences based in Solon, Ohio. “This partnership between SGNA and Habitat is an incredible step in making sustainable homeownership more accessible for families across the country.”
The Sustaining Futures, Raising Communities home follows the concept of universal design, meaning it will be accessible to anyone—regardless of their age, potential disabilities or other factors.
The home will also be zero energy ready, meaning that with solar panel installation, the total amount of energy used is equal to the amount of renewable energy created on site. Zero energy ready homes are cost effective in comparison to standard homes because of the savings on energy costs and utility bills. This increases the affordability of homeownership for the family who moves into the Sustaining Futures, Raising Communities home.
“Through this partnership, we see a future full of opportunity—creating homes that stand the test of time and provide comfort and a sense of belonging for the owners,” said Beth Lechner, executive director of Habitat. “All of us at Habitat for Humanity East Central Ohio are thrilled about this project’s positive community impact and the opportunity to discover new and innovative ways to build a better home for tomorrow, today.”
Habitat for Humanity East Central Ohio is a leader in affordable housing solutions for low to moderate income families and individuals. This new partnership brings together SGNA’s vast knowledge of building products and processes and Habitat’s expertise in educating families and leading them toward strength, stability, and self-reliance through homeownership.
“The purposes of Habitat and Saint-Gobain intersect in the common goal focused on making a human impact through construction. Saint-Gobain North America and Habitat for Humanity East Central Ohio are ideal partners,” said Mark Rayfield, CEO of SGNA. “We look forward to donating this zero energy ready, universal design house to Habitat. It will bring both comfort and energy efficiency to the family who will soon make it their home.”
More information on the family moving into the Sustaining Futures, Raising Communities home will be announced in the coming months. To learn more about the program and follow its progress, please visit sustainingfuturesraisingcommunities.com and follow along on social media using the hashtag #SustainingFuturesRaisingCommunities.
About Saint-Gobain
Saint-Gobain designs, manufactures and distributes materials and solutions for the construction, mobility, healthcare and other industrial application markets. Developed through a continuous innovation process, they can be found everywhere in our living places and daily life, providing wellbeing, performance and safety, while addressing the challenges of sustainable construction, resource efficiency and the fight against climate change. This strategy of responsible growth is guided by the Saint-Gobain purpose, “MAKING THE WORLD A BETTER HOME”, which responds to the shared ambition of all the women and men in the Group to act every day to make the world a more beautiful and sustainable place to live in.
€38.1 billion in sales in 2020
More than 167,000 employees, located in 70 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on Twitter @saintgobain.
About Habitat for Humanity East Central Ohio
Serving Stark, Carroll, Tuscarawas, Harrison, and Jefferson Counties, Habitat for Humanity East Central Ohio is driven by the vision that everyone needs a decent place to live. People partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and purchase the homes with an affordable zero interest mortgage. Through financial support, volunteering, or adding a voice to support affordable housing, everyone can help families achieve the strength, stability, and self-reliance they need to build better lives for themselves. Through shelter, Habitat empowers. To learn more, visit habitateco.org.
Media
Katie Coulter, Account Executive
FrazierHeiby
614.702.2123
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Saint-Gobain North America
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Expects Best Fourth Quarter Operating Performance Since 2011
PORTLAND, Ore.--(BUSINESS WIRE)--Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) today announced preliminary results for its fiscal 2021 fourth quarter ended August 31, 2021. The Company expects fourth quarter diluted earnings per share from continuing operations to be in the range of $1.40 - $1.48 and net income to be in the range of $43 million - $45 million. Adjusted earnings per share from continuing operations are expected to be in the range of $1.75 - $1.83, which excludes expected charges of $12 million or $0.31 per share related to legacy environmental matters (see Non-GAAP Financial Measures section for a reconciliation to GAAP).
Market conditions for recycled metals were strong with the Company’s average ferrous selling prices reaching their highest level since 2008 and nonferrous market selling prices trading at or near multi-year highs. Market selling prices for finished steel products also continued to increase on strong demand and reached their highest levels in more than a decade.
Ferrous and nonferrous sales volumes in the fourth quarter are expected to increase year over year by 9% and 3%, respectively, even though ferrous sales volumes were adversely impacted by the delayed arrival of one ship and nonferrous sales volumes were constrained by tight container availability. Due to the previously disclosed fire at the Company’s steel mill in May 2021, finished steel sales volumes for the quarter are expected to be down 53% year over year. The mill began ramping up production in mid-August after substantial completion of the replacement and repair of damaged property and equipment was completed ahead of schedule.
Despite the impact of the fire, the Company delivered its best fiscal fourth quarter operating performance since fiscal 2011. Adjusted EBITDA for the fourth quarter is expected to be in the range of $78 million - $81 million. The Company estimates the impact of the fire on its fourth quarter consolidated performance to be a detriment after recognition of initial insurance recoveries of $10 million.
The Company expects to generate strong operating cash flow of approximately $139 million for the fourth quarter, resulting in a $79 million sequential reduction in debt to $75 million, its lowest level since 2005. The effective tax rate for the fourth quarter of fiscal 2021 is expected to be an expense in the range of 13% - 15%, including discrete benefits recognized during the period.
The preliminary, unaudited information provided above is based on the Company’s current estimates of its financial results for the fourth quarter and fiscal year ended August 31, 2021 and remains subject to change based on management’s ongoing review of the Company’s fourth quarter financial results and the completion of the Company’s annual audit.
Earnings Call Date
The Company will report financial results for its fourth quarter and fiscal year 2021 ended August 31, 2021 on Thursday, October 21, 2021. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed at www.schnitzersteel.com/company/investors/event-calendar on Schnitzer’s website under Company > Investors > Event Calendar. The call will be hosted by Tamara Lundgren, Chairman and Chief Executive Officer, and Richard Peach, Executive Vice President, Chief Financial Officer and Chief Strategy Officer.
Replay Information
Toll Free Dial: (855) 859-2056
Toll Free International Dial: (404) 537-3406
Conference ID: 8667935
Replay Available: 10/21/2021 to 10/26/2021
About Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 23 states, Puerto Rico and Western Canada. Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive approximately 5 million annual retail visits. The Company’s steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.
Non-GAAP Financial Measures
This press release contains expected performance based on adjusted diluted earnings per share from continuing operations attributable to SSI shareholders and adjusted EBITDA which are non-GAAP financial measures as defined under SEC rules. As required by SEC rules, the Company has provided a reconciliation of these measures for each period discussed to the most directly comparable U.S. GAAP measure. Management believes that providing these non-GAAP financial measures adds a meaningful presentation of our results from business operations excluding adjustments for legacy environmental matters (net of recoveries), business development costs not related to ongoing operations, and the income tax benefit allocated to these adjustments, items which are not related to underlying business operational performance, and improves the period-to-period comparability of our results from business operations. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the most directly comparable U.S. GAAP measures.
Reconciliation of adjusted diluted earnings per share from continuing operations attributable to SSI shareholders |
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($ per share) |
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|||||
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4Q21 |
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|||||
|
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High |
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Low |
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||
As reported |
|
$ |
1.48 |
|
|
$ |
1.40 |
|
Charges for legacy environmental matters, net, per share(1) |
|
|
0.39 |
|
|
|
0.39 |
|
Business development costs, per share |
|
|
0.05 |
|
|
|
0.05 |
|
Income tax benefit allocated to adjustments, per share(2) |
|
|
(0.09 |
) |
|
|
(0.09 |
) |
Adjusted(3) |
|
$ |
1.83 |
|
|
$ |
1.75 |
|
(1) |
Legal and environmental charges, net of recoveries, for legacy environmental matters including those related to the Portland Harbor Superfund site and to other legacy environmental loss contingencies. |
|
(2) |
Income tax allocated to the aggregate adjustments reconciling reported and adjusted diluted earnings per share from continuing operations attributable to SSI shareholders is determined based on a tax provision calculated with and without the adjustments. |
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(3) |
May not foot due to rounding. |
Reconciliation of adjusted EBITDA |
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($ in millions) |
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4Q21 |
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|||||
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High |
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Low |
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||
Net income |
|
$ |
45 |
|
|
$ |
43 |
|
Plus interest expense |
|
|
1 |
|
|
|
1 |
|
Plus tax expense |
|
|
7 |
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|
|
6 |
|
Plus depreciation and amortization |
|
|
15 |
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|
|
15 |
|
Plus charges for legacy environmental matters, net(1) |
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|
12 |
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|
12 |
|
Plus business development costs |
|
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1 |
|
|
|
1 |
|
Adjusted EBITDA |
|
$ |
81 |
|
|
$ |
78 |
|
(1) |
Legal and environmental charges, net of recoveries, for legacy environmental matters including those related to the Portland Harbor Superfund site and to other legacy environmental loss contingencies. |
Forward Looking Statements
Statements and information included in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Except as noted herein or as the context may otherwise require, all references in this press release to “we,” “our,” “us,” “the Company” and “SSI” refer to Schnitzer Steel Industries, Inc. and its consolidated subsidiaries.
Forward-looking statements in this press release include statements regarding future events or our expectations, intentions, beliefs and strategies regarding the future, which may include statements regarding the impact of pandemics, epidemics or other public health emergencies, such as the coronavirus disease 2019 (“COVID-19”) pandemic; the impact of equipment upgrades, equipment failures and facility damage on production, including timing of repairs and resumption of operations; the realization of insurance recoveries; the Company’s outlook, growth initiatives or expected results or objectives, including pricing, margins, sales volumes and profitability; completion of acquisitions and integration of acquired businesses; liquidity positions; our ability to generate cash from continuing operations; trends, cyclicality and changes in the markets we sell into; strategic direction or goals; targets; changes to manufacturing and production processes; deferred tax assets; planned capital expenditures; the cost of and the status of any agreements or actions related to our compliance with environmental and other laws; expected tax rates, deductions and credits; the impact of sanctions and tariffs, quotas and other trade actions and import restrictions; the potential impact of adopting new accounting pronouncements; the impact of labor shortages or increased labor costs; obligations under our retirement plans; benefits, savings or additional costs from business realignment, cost containment and productivity improvement programs; and the adequacy of accruals.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “outlook,” “target,” “aim,” “believes,” “expects,” “anticipates,” “intends,” “assumes,” “estimates,” “evaluates,” “may,” “will,” “should,” “could,” “opinions,” “forecasts,” “projects,” “plans,” “future,” “forward,” “potential,” “probable,” and similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking.
We may make other forward-looking statements from time to time, including in reports filed with the Securities and Exchange Commission, press releases, presentations and on public conference calls. All forward-looking statements we make are based on information available to us at the time the statements are made, and we assume no obligation to update any forward-looking statements, except as may be required by law. Our business is subject to the effects of changes in domestic and global economic conditions and a number of other risks and uncertainties that could cause actual results to differ materially from those included in, or implied by, such forward-looking statements. Some of these risks and uncertainties are discussed in “Item 1A. Risk Factors” of Part I of our most recent Annual Report on Form 10-K, as supplemented by our subsequently filed Quarterly Reports on Form 10-Q. Examples of these risks include: the impact of pandemics, epidemics or other public health emergencies, such as the COVID-19 pandemic; the impact of equipment upgrades, equipment failures and facility damage on production; difficulties associated with acquisitions and integration of acquired businesses; potential environmental cleanup costs related to the Portland Harbor Superfund site or other locations; the cyclicality and impact of general economic conditions; changing conditions in global markets including the impact of sanctions and tariffs, quotas and other trade actions and import restrictions; volatile supply and demand conditions affecting prices and volumes in the markets for raw materials and other inputs we purchase; significant decreases in scrap metal prices; imbalances in supply and demand conditions in the global steel industry; reliance on third party shipping companies, including with respect to freight rates and the availability of transportation; inability to obtain or renew business licenses and permits; the impact of goodwill impairment charges; the impact of long-lived asset and equity investment impairment charges; failure to realize or delays in realizing expected benefits from investments in processing and manufacturing technology improvements; inability to achieve or sustain the benefits from productivity, cost savings and restructuring initiatives; inability to renew facility leases; customer fulfillment of their contractual obligations; increases in the relative value of the U.S. dollar; the impact of foreign currency fluctuations; potential limitations on our ability to access capital resources and existing credit facilities; restrictions on our business and financial covenants under the agreement governing our bank credit facilities; the impact of consolidation in the steel industry; product liability claims; the impact of legal proceedings and legal compliance; the adverse impact of climate change; the impact of not realizing deferred tax assets; the impact of tax increases and changes in tax rules; the impact of one or more cybersecurity incidents; environmental compliance costs and potential environmental liabilities; compliance with climate change and greenhouse gas emission laws and regulations; the impact of labor shortages or increased labor costs; reliance on employees subject to collective bargaining agreements; and the impact of the underfunded status of multiemployer plans in which we participate.
Investor Relations:
Michael Bennett
(503) 323-2811
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Company Info:
www.schnitzersteel.com
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HOUSTON--(BUSINESS WIRE)--Enstor Gas, LLC (“Enstor”), the largest privately owned gas storage company in the U.S., today announced the release of its first ESG Report. The report provides detail on the company’s environmental, social, and governance (ESG) performance in calendar year 2020 and includes specific metrics in each category.
“At Enstor, our goal is to create and preserve long-term sustainability and value for all our stakeholders, including investors, employees, customers, and the communities where we live and work,” said Enstor CEO Paul Bieniawski. “We attempt to be a responsible operator in everything we do including our dedication to the communities we serve and our commitment to safe, socially and environmentally responsible operations that protect the well-being of our employees, the public, and the environment.”
Report highlights are available here. The full report is available to Enstor stakeholders by emailing a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
About Enstor Gas, LLC
Enstor Gas is the largest privately owned natural gas storage company in the United States. Headquartered in Houston, the company owns and operates seven active underground natural gas storage facilities in five states with more than 134 BCF in working gas capacity. Enstor has approximately 179 miles of transmission pipelines and 39 interconnects to major transmission pipelines. Enstor is backed by ArcLight Capital Partners, LLC, a leading private equity firm focused on North American energy infrastructure investments. For more information, please visit www.enstorinc.com.
Casey Nikoloric, Managing Principal
TEN|10 Group
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303.507.0510. m
303.433.4397, x101 o
DUBLIN--(BUSINESS WIRE)--The "Wind Energy: Maintenance, Repair and Replacement: Patent Review" report has been added to ResearchAndMarkets.com's offering.
Wind energy is one of the most significant and successful areas of modern energy based on renewable sources. Over the past 10 years the share of wind energy in world electricity production has increased from about 1% to 5%, while its total capacity has amounted to about 50% of all renewable energy capacities. The volume of installed capacities of wind energy in 2020 reached about 100 GW, and the cumulative volume - more than 700 GW. The three world leaders in installed wind power facilities include China, the USA, and Germany. In China in 2020, the volume of newly installed capacity was about 60% of the global.
One of most important problems of wind energy is the relatively low-capacity factor, which in real practice of wind turbines rarely exceeds 30%. As a result, huge material-intensive and expensive structures of wind turbines sit idle for a considerable time without generating electricity, reducing the investment attractiveness of the industry, hindering a decrease in selling prices for electricity and limiting the competitiveness of this industry. Ensuring the maximum capacity factor of wind turbines is hampered by objective factors in the form of local natural resources, first of all, the magnitude and range of wind speed, its stability and tendency to powerful gusts.
Also, there is a large group of subjective factors that impede the extraction of the maximum possible capacity factor. These include, for example: ineffective equipment condition monitoring, especially remote monitoring; poor-quality maintenance; untimely delivery of component parts; suboptimal organization of transportation or repair work; lack of high-performance tools for maintenance, which leads to unexpected shutdowns of wind turbines.
Solving these problems can provide additional reserves for the use of power and represents the most promising way to improve the efficiency of the wind power industry in general. A selection of inventions related to the mounting, maintenance, repair and replacement of wind turbines and published by patent offices around the globe in 2000 -2020 is provided for consideration in the present review.
The review includes 7095 patents and patent applications, prepared by applicants from 28 countries and registered in 43 patent offices. The patent documents mention 1386 applicants and 1402 IPC subgroups. As of the date of compilation of the present review about 550 inventions published in 2020 were found, processed, and registered, which obviously is not the all-embracing result. It should be taken into consideration that the process of publication of new patent documents in national and generally-accessible databases take certain time, while their determination and processing are comprehensive and time-consuming procedures that could not be finished by the middle of 2021. Hence, 2020 data are often excluded from the comparative analysis and only provided as a general information.
The review contains: distribution of documents by years; by bibliographical and technological indicators; by top patent offices; by lead countries for inventive activity; analysis of non-resident participation; correlation of International Patent Classification indices; analysis of activity of the most productive applicants; shares of participation of applicants in the intellectual property registry; rating evaluation of patent documents using original methodology; analysis of major manufacturing operations and equipment. For each of the patent documents selected for the examination in the present review the characteristics of unified indicators were preliminary defined, they include: technical problems, types of inventive solutions employed, belonging to one or another technological segment. This allows the internal content for each of the indicators in the aggregate array of documents to be visualized, for instance, to define the sequence and proportional correlation of technical problems the inventive solutions disclosed in the texts aim to solve.
Key Topics Covered:
Introduction
Basic Indicators
Technological Indicators
Key Applicants
Basic manufacturing operations and equipment
For more information about this report visit https://www.researchandmarkets.com/r/aewpni
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced that its long-time N4 customer, Porto Itapoá has added and successfully implemented its Berth Window Management solution to improve berth planning and execution decisions and reduce inefficiency.
Completing its 10th year in operation in June 2021, Porto Itapoá is one of the largest and most important port terminals in Brazil and is considered one of the most agile and efficient terminals in Latin America. Central to its success are its strategic location on the northern coast of Santa Catarina – acting as an important link for the supply chains of the country with the rest of the world – and its ability to handle the largest ships operating in Brazil. Through the first half of the year, the port has reported a 40% increase in imports and an 11% increase in container traffic, processing a total of 238,000 containers in the first six months of 2021.
Porto Itapoá has invested in Navis’ Berth Window Management solution to cut down inefficiencies of verifying information from numerous disparate sources prior to confirming final berthing plans. Port Itapoá selected Navis’ solution because it:
“When it comes to optimizing the berth planning process, Navis’s solution was the clear winner for us,” said Thiago Manoel dos Santos, Operations Manager, Porto Itapoá. “In a month’s time, we were able to implement the solution which will not only remove much of the inherent uncertainty in planning the berth schedule of vessels but enable us to reduce time spent on these activities, maximize berth space, and safely and more efficiently process more vessels while lowering the total cost per move.”
“With a goal of providing visibility and ease of access to information and optimizing port operations, we were thrilled to support Porto Itapoá in the implementation of Navis Berth Window Management,” said Carlos Lopez Barbera, VP of Product Management at Navis. “Most vessel and berth planning in the maritime industry is still done manually, so digitizing a top Latin American port allowed the terminal to eliminate time consuming tasks and gain visibility into real-time information and data.”
For more information visit www.navis.com.
About Navis, LP
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Anna Patrick
Gregory FCA
T+1 212 398 9680
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Intelligent energy network provider GridPoint recognized in Grid Edge category for unlocking grid resiliency and accelerating the energy transition
RESTON, Va.--(BUSINESS WIRE)--#energy--GridPoint, a leader in energy management and grid sustainability, has been named a finalist in the 23rd annual S&P Global Platts Global Energy Awards. GridPoint’s intelligent energy network of grid-interactive buildings was recognized in the Grid Edge category for changing the way businesses use energy to increase grid resiliency and accelerate the transition to a clean energy future.
GridPoint’s gigawatt-scale network of grid-interactive buildings increases energy efficiency and integrates distributed energy resources, like EV charging, to support sustainability targets. GridPoint’s solutions allow energy suppliers, utilities and grid operators to access additional energy capacity and increase grid reliability.
“Since its founding in 2003, GridPoint’s intelligent energy network has grown substantially, currently spanning across 15,000 locations and counting. This recognition from such an esteemed organization highlights the impact of the GridPoint solution and inspires us to continue to harness the underutilized power potential within small and mid-sized buildings, turning them into instantaneous capacity for utilities and grid operators,” said GridPoint CEO Mark Danzenbaker.
The Grid Edge category of the S&P Global Platts Global Energy Awards recognizes innovative energy solutions advancing and optimizing the electric grid. An independent panel of esteemed judges will select the winner and select ‘Energy Company of the Year’ from the list of finalists.
“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,” said Jenny Salinas, Vice President of Marketing at S&P Global Platts.
Winners will be announced at the S&P Global Platts Global Energy Awards black-tie gala on December 9th in New York City. To learn more about GridPoint, visit: https://www.gridpoint.com/. 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.
About GridPoint
GridPoint’s mission is to accelerate the world’s transition to a sustainable future by creating an intelligent energy network of grid-interactive buildings. By transforming the way commercial businesses use energy, GridPoint unlocks the decarbonization, sustainability, and grid resiliency required for a cleaner, more efficient tomorrow. Our technology platform harnesses power and potential within a building to deliver energy, operational, and resiliency benefits. Networked together, GridPoint intelligent buildings provide reliable, precise, and instantaneous capacity for utilities and grid operators. GridPoint’s growing network of commercial buildings spans across Fortune 500 enterprises, utilities, government organizations, and small businesses.
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.
Liz Crumpacker
Antenna Group
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DUBLIN--(BUSINESS WIRE)--The "Sodium Petroleum Sulfonate Global Market Insights 2021, Analysis and Forecast to 2026, by Manufacturers, Regions, Technology, Application" report has been added to ResearchAndMarkets.com's offering.
This report describes the global market size of Sodium Petroleum Sulfonate from 2016 to 2020 and its CAGR from 2016 to 2020, and also forecasts its market size to the end of 2026 and its CAGR from 2021 to 2026.
For the geography segment, regional supply, demand, major players, price is presented from 2016 to 2026.
This report covers the following regions:
The key countries for each region are also included such as the United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil.
For the competitor segment, the report includes global key players of Sodium Petroleum Sulfonate as well as some small players.
The information for each competitor includes:
Types Segment:
Companies Covered:
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Sodium Petroleum Sulfonate Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Sodium Petroleum Sulfonate by Region
8.2 Import of Sodium Petroleum Sulfonate by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Sodium Petroleum Sulfonate Market in North America (2016-2026)
Chapter 10 Historical and Forecast Sodium Petroleum Sulfonate Market in South America (2016-2026)
Chapter 11 Historical and Forecast Sodium Petroleum Sulfonate Market in Asia & Pacific (2016-2026)
Chapter 12 Historical and Forecast Sodium Petroleum Sulfonate Market in Europe (2016-2026)
Chapter 13 Historical and Forecast Sodium Petroleum Sulfonate Market in MEA (2016-2026)
Chapter 14 Summary For Global Sodium Petroleum Sulfonate Market (2016-2021)
14.1 Sodium Petroleum Sulfonate Market Size
14.2 Sodium Petroleum Sulfonate Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Sodium Petroleum Sulfonate Market Forecast (2021-2026)
15.1 Sodium Petroleum Sulfonate Market Size Forecast
15.2 Sodium Petroleum Sulfonate Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
For more information about this report visit https://www.researchandmarkets.com/r/bj9k8g
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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New gas safety system utilizing the LoRaWAN® standard to be shown by GTI at the 2021 AGA Operations Conference & Exhibition
CAMARILLO, Calif.--(BUSINESS WIRE)--#Chip--Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, announced that GTI will showcase a new “Natural Gas Smart Safety Shutoff System” utilizing the LoRaWAN® standard at the 2021 AGA Operations Conference & Exhibition taking place Oct. 4-7, 2021 in Kissimmee, Florida. The wireless solution is comprised of a Remote Methane Detector (RMD), as well as a smart valve and smart meter running on LoRaWAN. Through employing LoRaWAN connectivity, once methane is detected, the valve and meter are shut off all in real time, preventing a possible gas-related incident.
“The firsthand demonstration of the new safety shutoff system at the 2021 AGA Operations Conference & Exhibition is ideal for gas utilities interested in deploying smart gas safety systems. We invite all to join us in learning more about how IoT-enabled solutions can prevent gas incidents,” said Dennis Jarnecke, R&D director, GTI.
According to the U.S. Energy Information Administration, gas use has grown significantly in the U.S., rising by 77% over the last three decades. The comprehensive gas safety system is developed by GTI with funding from Operations Technology Development (OTD) and the California Energy Commission, and utilizes LoRaWAN connectivity to provide real-time methane detection, shutting off the valve and meter immediately. And as gas usage continues to rise, gas safety systems such as the one GTI is demonstrating could be utilized to stop methane-related incidents, protecting building owners and/or occupants from potential harm.
“The gas utility industry is an important segment, and GTI provides critical insight that allows us to deliver solutions that meet the industry’s needs,” said Marc Pégulu, vice president of IoT product marketing and strategy for Semtech’s Wireless and Sensing Products Group. “The total cost of ownership for deploying a Low Power Wide Area Network (LPWAN) combined with the ability of LoRaWAN to coexist and complement existing utility networks, is a win-win for both the gas utility and rate payer.”
To register to attend the 2021 AGA Operations Conference & Exhibition to view the gas safety system demonstration, please visit here.
About Semtech’s LoRa® Platform
Semtech’s LoRa device-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa devices provide the communication layer for the LoRaWAN® standard, which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 100 countries. Semtech is a founding member of the LoRa Alliance. To learn more about how LoRa enables IoT, visit Semtech’s LoRa site.
About GTI
GTI is a leading research, development and training organization that has been addressing global energy and environmental challenges by developing technology-based solutions for consumers, industry and government for 80 years.
About Semtech
Semtech Corporation is a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
Forward-Looking and Cautionary Statements
All statements contained herein that are not statements of historical fact, including statements that use the words “will,” “could be,” “designed to” or other similar words or expressions, that describe Semtech Corporation’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in Semtech Corporation’s annual and quarterly reports, and in other documents or reports, filed with the Securities and Exchange Commission (www.sec.gov) including, without limitation, information under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors.” Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
Semtech, the Semtech logo, and LoRa are registered trademarks or service marks of Semtech Corporation or its affiliates.
SMTC-P
Linh Dinh
Semtech Corporation
(805) 250-1263
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Younger, more knowledgeable consumers leading the charge as electric cars trend toward mass adoption in the near future
WOODCLIFF LAKE, N.J.--(BUSINESS WIRE)--A new consumer survey carried out by MINI USA finds that American consumers are increasingly looking to electrify their daily on-road travel. Releasing the results during National Drive Electric Week, the survey commissioned by Engine’s CARAVAN® reveals that half of all consumers expect the American automotive market to be mostly electric within just 15 years. Not only that, but 80% of those surveyed would also consider an electric vehicle (EV) as their primary or secondary vehicle – a clear sign of progress in the mass adoption of EVs as the ideal mode of everyday transportation for both work and leisure.
While range remains a commonly discussed concern relative to consumers’ daily driving patterns, the survey revealed that 78% of respondents do not travel more than 50 miles per day on average. With most all electric cars today offering a range over 100 miles, this shows EVs are compatible for a strong majority of American drivers.
Attainability of EVs has also increased in the eyes of the American consumer. Close to half (47%) of all those surveyed believe that EVs have become more affordable and attainable in the last two years. This is also reflected in the 32% of respondents who claimed they’d consider purchasing an electric car within the next five years.
Younger consumers hold an especially positive attitude toward EVs, with Gen Z and Millennial consumers, indicating they are more likely to consider purchasing an EV in five years at 39% and 41%, respectively. They are also twice as likely to believe that electric cars fun to drive compared to older generations.
“Our latest survey shows that more consumers are shifting their attention to electric vehicles as they become more attainable and compelling to own relative to gas models.” said Mike Peyton, Chief Motorer and Vice President, MINI of the Americas. “EVs are especially becoming more attractive to a new generation – ’Gen EV’ as we say. These are people who are young, fun-seeking and environmentally minded, and want more attainable, fun-to-drive EV choices such as the MINI Cooper SE.
In addition to generational distinctions, regional differences were clear in the survey results. Consumers in Western states felt more optimistic (61%) about electric overtaking gas-powered vehicles in 15 years. In addition, more than half of consumers in the West also responded that they have become more knowledgeable about EVs in the last two years.
In a final observation, the MINI EV survey underscores that education remains a point of continued emphasis in the EV conversation. Despite a significant majority of Americans (78%) driving far less than the range threshold of most EVs, the survey revealed that just under half of respondents believe EV range is compatible with their daily driving patterns. In light of National Drive Electric Week, the MINI survey results show opportunity still exists to have an honest conversation about the place electric vehicles already have on American roadways as a fun, reliable, and accessible option for all.
About the MINI Cooper SE
With a low center of gravity, a powerful electric powertrain, and dynamic handling, the MINI Cooper SE is a true performance car that retains all the fun-to-drive attributes MINI owners have come to know and love.
With an MSRP of $29,900 plus federal EV credits of $7,500, and additional state incentives, the cost for a MINI Cooper SE can be as low $20,000. This makes it one of the most affordable, fun to drive premium EVs on the market.
Owners of a MINI Cooper SE battery electric may realize additional saving of up to $1,200 over a year based on driving habits and U.S. national average energy costs. Plus, with most Americans driving less than 50 miles per day, market data shows that the MINI Cooper SE and its 114-mile range works for many customers.
In addition, the MINI Cooper SE has also recently earned two important distinctions, URBAN GREEN CAR OF THE YEAR as named by Green Car Journal and the number 2 spot in the “Greenest Car” ratings by GreenCars.org. These accolades independently validate the appeal and success of the Cooper SE.
Survey Methodology
The General Population survey was conducted among a sample of 1,009 adults comprising 504 men and 505 women 18 years of age and older on behalf of MINI USA. The online omnibus study was conducted from September 8 - 10, 2021.
About MINI in the US
MINI is an independent brand of the BMW Group. In the United States, MINI USA operates as a business unit of BMW of North America, LLC, located in Woodcliff Lake, New Jersey and includes the marketing and sales organizations for the MINI brand. The MINI USA sales organization is represented in the U.S. through a network of 113 MINI passenger car dealers. MINI USA began selling vehicles in the U.S. in 2002 with the introduction of the MINI Cooper and MINI Cooper S Hardtops. Since then, the MINI Brand in the U.S. has grown to encompass a model range of five unique vehicles.
Journalist notes: Media information about MINI and its products is available to journalists on-line at www.miniusanews.com.
Andrew Cutler
Head of Corporate Communications, MINI USA
201.307.3784
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Rob Duda
MINI USA News Bureau
Senior Vice President, Peppercomm
908.347.1243
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DUBLIN--(BUSINESS WIRE)--The "Trends, Opportunities and Competitive Analysis of Composites in the Oil And Gas Market" report has been added to ResearchAndMarkets.com's offering.
The market will witness recovery in the year 2021, and it is expected to reach an estimated $1.4 billion by 2026 with a CAGR of 6.5% from 2021 to 2026. The major drivers of growth for this market are increasing oil and gas drilling and exploration activities in future.
Emerging trends, which have a direct impact on the dynamics of the industry, are the emergence of introduction of carbon fiber for oil and gas applications and on-site construction of FRP pipes to any length and diameter which exclude transportation and installation cost. Owens corning, Jushi, CPIC, Nippon Electric Glass Co. Ltd., Huntsman, Hexion, and Olin Corporation are among the leading players of composites material in global oil and gas industry.
A total of 98 figures/charts and 62 tables are provided in this 194-page report to help in your business decisions. To learn the scope of benefits, companies researched, and other details of the composites in the global oil and gas industry report.
The study includes trends and forecast for the composites in the global oil and gas industry by end use industry, by product, and region as follows.
In this market, polyester, epoxy, phenolic, and polyethylene composites are the materials used to manufacture various composite parts for oil and gas industry. The analyst predicts that the demand for epoxy composites is expected to experience the highest growth in the forecast period, supported by its high performance characteristics such as low shrinkage, excellent adhesion, effective electrical insulation, high chemical, and solvent resistance properties.
Within the composites in the oil and gas industry, pipe application is expected to remain as the largest market by value and volume consumption and it is also expected to experience the highest growth in the forecast period. Increases in oil and gas production and exploration activity on both onshore and offshore production sites have increased the demand for pipes are the major driving forces that spur the growth for this segment over the forecast period.
North America is expected to remain the largest market due to growth in natural gas infrastructure projects, and awareness on the advantages of composite materials for oil and gas over traditional material.
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2015 to 2026
3.1: Macroeconomic Trends and Forecasts
3.1.1: Macroeconomic Trends
3.1.2: Macroeconomic Forecast
3.2: Composites in the Global Oil and Gas Industry Trends and Forecast
3.3: Composites in the Global Oil and Gas Industry by End Use Application
3.4: Composites in the Global Oil and Gas Industry by Resin Type
4. Market Trends and Forecast Analysis from 2015 to 2026
4.1: Composites in the Global Oil and Gas Industry by Region
4.2: Composites in the North America Oil and Gas Industry Trends and Forecast
4.2.1: Composites in the North American Oil and Gas Industry by End Use Application
4.3: Composites in the European Oil and Gas Industry Trends and Forecast
4.3.1: Composites in the European Oil and Gas Industry by End Use Application
4.4: Composites in the APAC Oil and Gas Industry Trends and Forecast
4.4.1: Composites in the APAC Oil and Gas Industry by End Use Application
4.5: Composites in the ROW Oil and Gas Industry Trends and Forecast
4.5.1: Composites in the ROW Oil and Gas Industry by End Use Application
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Composites in the Global Oil and Gas Industry by End Use Application
6.1.2: Growth Opportunities for the Composites in the Global Oil and Gas Industry by Resin Type
6.1.3: Growth Opportunities for Composites in the Global Oil and Gas Market by Region
6.2: Emerging Trend in the Composites in the Global Oil and Gas Industry
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Composites in the Global Oil and Gas Industry
6.3.3: Mergers, Acquisitions and Joint Ventures in the Composites in the Global Oil and Gas Industry
6.3.4: Certification and Licensing
7. Competitor Analysis
7.1: Owens Corning
7.2: Jushi Group Co. Ltd
7.3: Chongqing Polycomp International Corporation (CPIC)
7.4: Nippon Electric Glass Co. Ltd
7.5: Olin Corporation
7.6: Hexion Inc.
7.7: Polynt-Reichhold
7.8: Ashland (INEOS Enterprises)
7.9: Sumitomo Bakelite
7.10: Future Pipe Industries
7.11: National Oilwell Varco (NOV)
7.12: Hengrun Group Co. Ltd.
7.13: Hobas Pipe
7.14: Amaintit
7.15: ZCL Composites Inc. (SHAWCOR)
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Last 125-megawatt phase of Aquamarine will be completed by year-end 2021
LOS ANGELES--(BUSINESS WIRE)--CIM Group announced today that the first 125-megawatt phase of the Aquamarine solar photovoltaic project at Westlands Solar Park (WSP) has reached commercial operation and is fulfilling its energy contract obligations with Valley Clean Energy Alliance and Silicon Valley Power. Aquamarine’s second 125-megawatt phase will be complete and operational by year-end.
“Bringing clean solar power to California from Aquamarine is a major milestone in the realization of the full potential of our 20,000-acre Westlands Solar Park. As one of the largest solar projects in the U.S., Westlands Solar Park, at full build-out, will have the capacity to deliver 2.7 gigawatts of renewable energy, a substantial resource to utilities and businesses advancing their plans to reduce carbon emissions and meet California’s renewable energy goals,” said Avi Shemesh, Co-Founder and Principal, CIM Group.
Achieving commercial operation follows the approval by Pacific Gas & Electric authorizing Cal-ISO to connect Aquamarine to the power grid. Cal-ISO in turn authorized Aquamarine to begin synchronization and start a power generation test project providing power to the grid. The several week test period was successfully concluded and Aquamarine officially began commercial operations on September 17.
Aquamarine is now generating power to deliver on its previously executed Power Purchase Agreements including a 50-megawatt contract with Valley Clean Energy Alliance, the City of Santa Clara, CA (Silicon Valley Power) for renewable energy credits (REC) associated with 75 megawatts of capacity. CIM Group is currently negotiating additional PPAs with other potential counterparties for Aquamarine and future phases at WSP.
WSP – scale and capacity
WSP is one of the largest permitted solar parks in the world, with the capacity to grow to more than 2,700-megawatts (2.7 gigawatts) of renewable energy at full buildout and with the potential to provide clean energy to more than 1,200,000 homes. The master-planned energy park encompasses more than 20,000 acres in California’s San Joaquin Valley in western Fresno and Kings Counties and is designed to open in phases to meet the needs of public and private utilities and other energy consumers. WSP has a completed and certified programmatic environmental impact report for the entire project and WSP is one of the few renewable energy zones identified as a Competitive Renewable Energy Zone (CREZ) thru the Renewable Energy Transmission Initiative (RETI) process.
WSP and environmental sustainability
CIM Group actively looks for opportunities to apply sustainable principles across its real asset portfolios, and at WSP, CIM is repurposing selenium-contaminated and drainage impaired farmland for the development of clean energy. In addition, WSP seeks to improve air quality in the San Joaquin Valley as the solar park doesn’t generate fine particular pollution which is a major contributor to the area’s historic poor air quality. WSP has garnered strong support from environmental communities including the Sierra Club, NRDC, Defenders of Wildlife, and the Center for Biological Diversity. The goal of CIM’s clean energy projects is to provide solutions to multiple policy objectives for the state of California’s renewable energy mandate including greenhouse gas reduction and carbon free energy.
CIM Group infrastructure and sustainable investment
Since its inception in 1994, CIM has focused on investing in real estate and infrastructure projects located in or serving densely-populated communities throughout the Americas. WSP, located in a designated Opportunity Zone as defined under the 2017 Tax Cuts and Jobs Act, is an example of CIM’s commitment to investing in sustainable assets across communities as well as investing in Opportunity Zones. CIM is a UNPRI signatory and its infrastructure projects have been recognized for sustainability by the California Organized Investment Network (COIN), a division of the California Department of Insurance.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
Karen Diehl
Diehl Communications
(310) 741-9097
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today the release of its 2020 Environmental, Social and Governance (ESG) Report.
This report, previously known as Flowserve’s Sustainability Report, details the progress of our ESG performance, our approach to building a more sustainable future, and how we’re enabling our customers to achieve their sustainability goals.
“While 2020 presented many challenges to people and businesses around the world, it also reinforced our focus on sustainability and the importance of delivering on our purpose every day,” said Scott Rowe, president and chief executive officer. “As we look to the future, we are committed to reducing our own environmental footprint and supporting our customers through our innovative solutions as they continue their energy transformation journey, helping make the world better now and for generations to come,” he added.
The 2020 ESG Report highlights Flowserve’s commitment to supporting its customers through the energy transition of the future with our increased investment in innovation and product development. Additional achievements from 2020 highlighted in the ESG Report include:
Additionally, throughout the past year, we’ve taken steps to evolve our sustainability and ESG reporting. “In our 2020 ESG Report, we made important advancements by including greater detail around material ESG areas while maintaining alignment with Sustainability Accounting Standards Board (SASB) criteria and the goals set forth in the Paris Climate Agreement,” said Lanesha Minnix, chief legal officer and corporate secretary.
For more information on Flowserve’s ESG and sustainability progress, or to access the Flowserve 2020 ESG Report or 2020 ESG Report Executive Summary, visit our Corporate Sustainability page on Flowserve.com.
Flowserve Contacts
About Flowserve
Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon second-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
Marissa Badenhorst Named Vice President, Health, Safety and Environment
Dave Payne to Retire After 39 Years of Service
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today named Marissa Badenhorst vice president of Health, Safety and Environment, effective January 1, 2022. Badenhorst, 45, succeeds James David (Dave) Payne, who will be retiring April 1, 2022, after 39 years of distinguished service.
Badenhorst, currently general manager of Enterprise Process Safety, will be responsible for leading Chevron’s Health, Safety, and Environment function, including risk management and emergency response. She will report to Eimear Bonner, Chevron vice president, chief technology officer.
“During Marissa’s time leading Enterprise Process Safety, we’ve seen record high safety performance at Chevron,” said Bonner. “She is a proven leader with a breadth and depth of experience in operations, maintenance and reliability as well as technical and process safety management across global organizations that will advance our aim to lead our industry in health, safety and environmental performance.”
Badenhorst joined Chevron over 20 years ago in Cape Town, South Africa, and has since held leadership positions of increased responsibility at the Cape Town refinery, Pascagoula refinery and in Perth, Australia, where she provided facilities engineering support to the Gorgon and Wheatstone assets. She became general manager of Enterprise Process Safety in October 2020. Badenhorst holds a Chemical Engineering degree from the University of Pretoria.
“I’m truly grateful to Dave for his decades of leadership and his commitment to the health and welfare of all his Chevron colleagues,” Bonner added. “Dave’s career spans the globe and he leaves a legacy that puts the safety of our people and our operations at the core of how we work. Most recently, Dave has led the company’s response to the pandemic and the tireless efforts of his team deserve the highest recognition.”
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.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s energy transition plans and operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; development of large carbon capture and offsets markets; public health crises, such as pandemics and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Braden Reddall
+1 925-842-2209
Former Panasonic Gigafactory Manufacturing GM Joins KORE Power to Head Up Operations as VP of Manufacturing at Buckeye, AZ Facility
PHOENIX--(BUSINESS WIRE)--KORE Power, Inc. (KORE) has tapped energy storage and battery manufacturing veteran Randy S. Cowder to lead operations at their KOREPlex facility in Buckeye.
Cowder, who joins KORE as Vice President of Manufacturing, comes to the company from Panasonic’s gigafactory in Nevada, where he was general manager of manufacturing.
With more than 25 years of experience in manufacturing, Cowder is committed to KORE’s mission of delivering an American-built supply chain of energy storage solutions for the transition to a clean energy economy. He brings expertise in results-driven processes and site management and holds Six Sigma Black Belt certification.
“The KOREPlex team will be comprised of top-tier talent, solving energy and e-mobility sector supply chain challenges,” said Lindsay Gorrill, KORE’s CEO. “Randy brings energy storage manufacturing experience that will allow him to be a leader and mentor.”
KORE currently deploys its battery cells to its global customer base by leveraging the experience of its contract manufacturing partner. The new KOREPlex facility will add to its current 2 GWh annual production capacity, expanding it to 18 GWh total annual capacity by the end of 2023. KORE's U.S. facility will create new advanced manufacturing jobs in Arizona and strengthen U.S. energy security by creating a new domestic battery cell supply.
The KOREPlex will also offer modern, clean manufacturing, including fully automated cell assembly lines, automated material movement and handling, automated packaging lines and a pandemic-ready design to allow safe workspaces.
About KORE Power, Inc.
KORE Power, Inc., is a leading U.S.-based developer of battery cell technology for the clean energy industry, serving energy storage, e-mobility, utility, industrial and mission-critical markets across the globe. KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs, optimized by its battery management system. Also, through its global partnerships, KORE designs and manufactures top-tier energy storage solutions (ESS).
KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology and Tier 1 product availability. We care about building sustainable communities, clean energy jobs and green economic expansion. KORE Power is proud to offer functional solutions to real-world problems that fulfill growing market demand and contribute to a zero-carbon future. For more information, visit www.korepower.com.
Cautionary Statement
Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives and expectations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. Forward-looking statements included in this news release are made as of the date of this news release and KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
David Jakubiak
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312-285-9622
Aleysha Newton
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208-758-9392
DUBLIN--(BUSINESS WIRE)--The "Technology Advancements Enabling Prosumerism in Energy Sector" report has been added to ResearchAndMarkets.com's offering.
Smart grid modernizations have led to the development of remunerative programs that encourage consumers to optimize their energy consumption in response to penalties, pricing signals, or curtailment requests. The potential flexibility being infused by the programs have rendered consumers' energy load and onsite generation capabilities to be considered as a critical factors and resource for grid balancing.
Smart grids have infused a paradigm shift toward active energy distribution and have significantly transformed the role of a consumer alongside communities, enabling "passive" users to act as "active" participants - both as consumers and producers. The smartest and viable part of the grid, however, is not the technological integration, but rather the human tendencies: the "prosumer" or "prosumerism."
A prosumer is a consecutive power producer and consumer. Consumers transform into potential prosumers through the integration of an energy generation unit including a solar panel within their premises. Increasing number of institutions, households, and businesses setting up renewable energy systems has led to the structuring of a socio-technical distribution system.
The research study highlights the key characteristics of prosumers in terms of consumer needs, goals, preferences, alongside the technical demands of a durable and sustainable power supply mechanism.
The study covers the following:
Key Topics Covered:
1. Strategic Imperatives
1.1 Why Is It Increasingly Difficult to Grow? The Strategic Imperative 8: Factors Creating Pressure on Growth
1.2 The Strategic Imperative 8
1.3 The Impact of the Top Three Strategic Imperatives on The Energy Prosumerism Industry
1.4 Growth Opportunities Fuel the Growth Pipeline Engine
1.5 Research Process & Methodology
1.5 Research Process and Methodology (continued)
2. Executive Summary
2.1 Energy Prosumerism: A State of Consecutive Energy Consumption & Production
2.2 Energy Prosumerism: Four Technological Areas to Fuel Global Adoption
2.2.1 Energy Management Network for Effective Consumption Profiles
2.2.2 Onsite Generation for Building a Green and Reliable Microgrid
2.2.3 Energy Storage for Super-charging the Microgrid
2.3 Key Roles and Features of Smart Grid Components Within Prosumerism
2.4 Evolution from Energy Consumer to Prosumer Infuses Financial, Environmental, Societal, and Operational Benefits
3. Companies to Action
3.1 Schneider Electric
3.1 EMS & EcoStruxure ADMS
3.2 Wuxi Suntech Power Co. Ltd.
3.2 Roof-top, BIPV, and Bifacial Solar Modules
3.3 Bloomenergy
3.3 Energy Server Platform
3.4 METRON
3.4 METRON-EVA
3.5 Leapfrog Power Inc.
3.5 Virtual Power Plant Solution
4. IP Landscape
4.1 APAC Has the Majority of Patent Publications
4.2 State Grid, Siemens, and ABB to Drive Patent Activities Worldwide
5. Growth Opportunity Universe: Energy Prosumerism
5.1 Growth Opportunity 1: R&D Investment for Technological Innovation, 2020
5.2 Growth Opportunity 2: Technology Convergence for Grid Resilience, 2020
5.3 Growth Opportunity 3: Technology Sourcing for System's Integration, 2020
6. Key Contacts
Companies Mentioned
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First-of-its-kind project for Peninsula Clean Energy to provide 102MW of solar, 52MW of battery storage
REDWOOD CITY, Calif. & DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy and Peninsula Clean Energy have entered into a 15-year solar-plus-storage Power Purchase Agreement (PPA) involving Leeward’s 102-megawatt (MW) Chaparral Solar Facility (Chaparral) in Kern County, California. As part of the agreement, Peninsula Clean Energy will also purchase the energy and capacity from Chaparral’s 52 MW (208 megawatt-hour) battery storage system, which will facilitate the transition to a cleaner and more reliable power grid.
Peninsula Clean Energy’s board of directors on September 25 approved the PPA, which is the organization’s first to involve a solar-plus-storage project. The Chaparral project will enable Peninsula Clean Energy to take another step toward its goal of delivering 100 percent renewable energy generation to its customers across San Mateo County and the City of Los Banos.
“While we continue to elevate the amount of solar, wind, geothermal and other clean generation, the storage capacity of this agreement is vital to ensuring we are getting closer to our ultimate goal of providing 24/7 emission-free renewable power to our customers by 2025,” Peninsula Clean Energy CEO Jan Pepper said.
“Leeward is very excited to build on its partnership with Peninsula Clean Energy in providing affordable and reliable renewable energy to its customers as well as helping the agency achieve its ambitious energy goals,” said Leeward’s Senior Vice President of Development, Kathryn Arbeit. “This agreement represents another critical step forward in the region’s transition to dispatchable clean energy and also showcases Leeward’s expanding solar and energy storage capabilities and growing footprint in California’s Antelope Valley.”
Construction of the facility will begin in December 2021 and the project is expected to begin delivering energy to Peninsula Clean Energy by December 2023. Leeward will own and operate the facility.
About Peninsula Clean Energy
Peninsula Clean Energy is a Community Choice Aggregation agency. It is the official electricity provider for San Mateo County and, beginning in 2022, for the City of Los Banos. Founded in 2016 with a mission to reduce greenhouse gas emissions in the county, the agency serves 295,000 customers by providing more than 3,500 gigawatt hours annually of electricity that is 100 percent carbon-free and at lower cost than PG&E. As a community-led, not-for-profit agency, Peninsula Clean Energy makes significant investments in its communities to expand access to sustainable and affordable energy solutions. Peninsula Clean Energy is on track to deliver electricity that is 100 percent renewable by 2025. The agency has earned investment grade credit ratings from Moody’s and Fitch. Follow us at PenCleanEnergy.com, Twitter, Facebook and LinkedIn.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$105 billion in net assets (as at December 31, 2020). For more information, visit www.leewardenergy.com.
For Leeward
Kelly Kimberly
Sard Verbinnen & Co.
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(713) 822-7538
For Peninsula Clean Energy
Darren Goode
Peninsula Clean Energy
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(202) 550-6619
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, October 29, 2021, at 11:00 a.m. ET (8:00 a.m. PT).
Conference Call Information:
Date: Friday, October 29, 2021
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 929-477-0308 or 800-289-0449
Conference ID #: 8912677
Speakers:
Mark Nelson – Executive Vice President, Downstream & Chemicals
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations
To access the live webcast, visit www.chevron.com.
The meeting replay will also be available on the company website under the “Investors” section.
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.
Sean Comey +1 (925) 842-5509
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