DUBLIN--(BUSINESS WIRE)--The "Submarine Power Cable Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2026" report has been added to ResearchAndMarkets.com's offering.
The report on the global submarine power cable market provides qualitative and quantitative analysis for the period from 2018 to 2026.
The report predicts the global submarine power cable market to grow with a CAGR of 14.2% over the forecast period from 2020-2026. The study on submarine power cable market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2018 to 2026.
The report on submarine power cable market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global submarine power cable market over the period of 2018 to 2026. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global submarine power cable market over the period of 2018 to 2026. Furthermore, the Growth Matrix provided in the report brings an insight into the investment areas that existing or new market players can consider.
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the submarine power cable market.
2. Complete coverage of all the segments in the submarine power cable market to analyze the trends, developments in the global market and forecast of market size up to 2026.
3. Comprehensive analysis of the companies operating in the global submarine power cable market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Publisher's Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Market Dynamics
Drivers
Restraints
Opportunities
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/k07bvf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today it has entered into a definitive agreement to acquire oil and gas assets in the Eagle Ford from two sellers.
Acquisition Highlights:
MANAGEMENT COMMENTS
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “This acquisition meaningfully increases SilverBow’s oil production and furthers our Eagle Ford and Austin Chalk consolidation efforts while maintaining a balanced oil and gas portfolio. This represents our third acquisition since the beginning of August and the largest to date for SilverBow. This transaction bolsters our inventory with high rate of return locations and provides us with development optionality as we plan for 2022 and beyond. The acquisition is accretive to Adjusted EBITDA and further reduces our pro forma leverage ratio(2) given the incremental cash flow. As we have shown over time, we expect to continue driving our peer-leading capital efficiency and cost structure as these assets are combined with our existing portfolio.”
Mr. Woolverton commented further, “Today’s announcement is a testament to the extensive work we have done evaluating opportunities and executing our in-basin consolidation plan. Furthermore, SilverBow once again utilized a mix of both cash and stock to fund the purchase price. The use of equity has allowed us to access a larger opportunity set for strategic growth while aligning our interests with surrounding peer companies and other key stakeholders for accretive, long-term value creation. Including the pro forma contribution of our recent acquisitions, SilverBow is targeting a leverage ratio of 1.25x at year-end 2021. We plan to share additional details as part of our third quarter 2021 reporting in November.”
TRANSACTION DETAILS
The acquisition has an effective date of August 1, 2021 and is expected to close before year-end, subject to customary closing conditions. The total purchase price is approximately $75 million, consisting of $45 million in cash and the greater of (i) approximately 1.35 million shares of SilverBow common stock based on its 30-day volume weighted average price as of October 4, 2021 and (ii) the number of shares equal to $25 million divided by the 30-day volume weighted average price as of the first trading day preceding the closing date. SilverBow intends to fund the cash component and fees and expenses with cash on hand and borrowings under its revolving credit facility.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.
(Footnotes)
1 2021E Adjusted EBITDA based on SilverBow management estimates utilizing NYMEX strip pricing as of September 30, 2021. As used in this news release Adjusted EBITDA is calculated as net income (loss) plus (less) depreciation, depletion and amortization, accretion of asset retirement obligations, interest expense, impairment of oil and natural gas properties, net losses (gains) on commodity derivative contracts, amounts collected (paid) for commodity derivative contracts held to settlement, income tax expense (benefit), and share-based compensation expense. A forward-looking estimate of net income (loss) is not provided with the forward-looking estimate of Adjusted EBITDA (a non-GAAP measure) because the items necessary to estimate net income (loss) are not accessible or estimable at this time without unreasonable efforts. Such items could have a significant impact on the Company's net income (loss).
2 Accretion is based on Adjusted EBITDA for Leverage Ratio for fiscal year 2021. Leverage ratio is defined as total long-term debt, before unamortized discounts, divided by Adjusted EBITDA for Leverage Ratio (a non-GAAP measure) for the trailing twelve-month period. Adjusted EBITDA for Leverage Ratio is calculated as Adjusted EBITDA plus amortization of derivative contracts, in accordance with the covenant compliance calculations under SilverBow's Credit Agreement. Neither Adjusted EBITDA nor Adjusted EBITDA for Leverage Ratio should be considered a replacement for the comparable GAAP measure.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
LONDON--(BUSINESS WIRE)--EO Charging (“EO”), a leading provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, has secured a landmark deal with Tesco to power its UK home delivery fleet of electric vans.
Tesco plans to have a fully electric delivery vehicle fleet by the end of 2028. This year, the business has already rolled out 30 electric vans, with plans in place for a further 150 in 2022.
As part of the first phase of the electrification programme, EO is supplying more than 200 AC fast chargers and 5 DC rapid chargers across five sites. The charging depots in Lakeside, Oxford, Glasgow (two sites) and Enfield will serve both day-to-day charging requirements as well as emergency cover in case of short turn-around times required for vehicles.
The partnership will see EO, whose fleet charging solutions are already used by some of the world’s leading corporations in the UK and Europe including Amazon, DHL, Go-Ahead and Uber, taking care of end-to-end electrification for Tesco. This includes upfront consultation to charging hardware, ongoing 24/7/365 support, maintenance, and onsite Service Level Agreement (SLA) for mission critical charging infrastructure.
Tesco’s charging infrastructure will be managed by EO Cloud – dedicated depot software that combines charge scheduling, site load management, vehicle telematics integration and energy data to reduce infrastructure installation costs and optimize fuel cost per vehicle.
Charlie Jardine, Founder & CEO at EO Charging, said:
“Tesco is one of the largest and most important businesses in the UK so it’s a privilege to play a part in its transition to electric vehicles as part of its decarbonisation strategy. Our focus is now to help the business optimise its fleet performance and provide round the clock support and ongoing maintenance of their charging infrastructure.”
EO recently executed an operations and management programme covering several thousand AC chargers at more than 50 sites across six countries for one of its clients. As part of the charging programme, EO resolved any Europe-wide on-site or remote issue in an average time of under three hours.
EO Charging recently announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
About EO
EO Charging (EO) is a leading technology solutions provider in the EV sector. EO designs and manufactures EV charging stations and hardware-agnostic cloud-based charge-point management software for fleets at its headquarters in the UK. EO also provides installation services and ongoing operations and maintenance services across its fleet customer base.
Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators, and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus, and car fleets.
EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.
Forward Looking Statements
The information in this press release includes "forward-looking statements". All statements, other than statements of present or historical fact included in this press release, regarding the proposed business combination between First Reserve Sustainable Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO Charging (“EO”), each of such parties’ ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, FRSG, the Company and EO disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. FRSG, the Company and EO caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of any of FRSG, the Company or EO. In addition, FRSG, the Company and EO caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the Business Combination Agreement and Plan of Reorganization, dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub Inc., EO and the Company, and the other agreements related to the business combination (including catastrophic events, acts of terrorism, the outbreak of war, COVID-19 and other public health events), as well as management’s response to any of the foregoing; (ii) the outcome of any legal proceedings that may be instituted against FRSG, the Company, EO, their affiliates or their respective directors and officers following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of FRSG, regulatory approvals, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts FRSG's or the Company's current plans and operations as a result of the announcement of the transactions; (v) the Company's and EO’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the pace and depth of EV adoption generally, and the ability of the Company to accurately estimate supply and demand for its EV charging products and services, and to grow and manage growth profitably following the business combination; (vi) risks relating to the uncertainty of the projected financial information with respect to the Company, including the conversion of pre-orders into binding orders; (vii) costs related to the business combination; (viii) changes in applicable laws or regulations, governmental incentives and fuel and energy prices; (ix) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (x) the amount of redemption requests by FRSG’s public stockholders; and (xi) such other factors affecting FRSG that are detailed from time to time in FRSG’s filings with the Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and its periodic filings with the SEC, including its Quarterly Report on Form 10-Q for quarterly period ended June 30, 2021. FRSG's SEC filings are available publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Stockholders
In connection with the proposed business combination, a registration statement on Form F-4 that includes a preliminary proxy statement/prospectus has been filed by EO with the SEC. After the registration statement is declared effective, the definitive proxy statement will be distributed to FRSG’s stockholders in connection with FRSG’s solicitation for proxies for the vote by FRSG’s stockholders in connection with the proposed business combination and other matters as described in the Form F-4, as well as a definitive prospectus of EO relating to the offer of the securities to be issued in connection with the completion of the business combination. Copies of the Form F-4 may be obtained free of charge at the SEC's website at www.sec.gov. FRSG’s stockholders are urged to read the preliminary proxy statement/prospectus and the other relevant materials (including, when available, the definitive proxy statement/prospectus) when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FRSG, EO or Juuce, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom.
Participants in the Solicitation
FRSG, the Company and EO and their respective directors and officers may be deemed participants in the solicitation of proxies of FRSG's stockholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of FRSG's executive officers and directors in the solicitation by reading FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of FRSG's, the Company’s and EO’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
EO Contacts
For Investors:
ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
For Media:
ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE: KSU) announced today that it has engaged Commtrex to enhance the visibility and connectivity of the KCS network’s over 100 transload facilities in the U.S. and Mexico using the Commtrex platform. The new relationship comes at a time of increasingly complex and volatile global supply chains, capacity constraints, labor shortages, rising transportation costs, as well as growing trade throughout North America due to the United States-Mexico-Canada Agreement.
Located in 19 U.S. and Mexican states, the KCS transload network handles food and agricultural commodities, bulk materials, chemicals, paper and forest products, steel and other metals. The Commtrex platform allows shippers to search for transload centers by location, commodities handled, services provided and other parameters to develop their freight rail options. Close to one-third of Commtrex’s 2,300 members are rail-served shippers.
“Working with Commtrex to support transload volume growth in the U.S. and Mexico supports our vision to be the fastest-growing, best-performing, most customer-focused transportation provider in North America,” said KCS executive vice president and chief marketing officer Mike Naatz. “This will help customers identify transload locations in competitive markets and secure shipping locations in Mexico - one of the fastest emerging logistics markets today.”
“The ability to easily connect shippers with transload facilities at origin and destination to help them develop a rail shipping plan, will facilitate greater conversion of truckload freight to rail,” said Commtrex chief executive officer Martin Lew. “We thank KCS for entrusting us to support the continued growth of their transload footprint. Our team is excited to realize new efficiencies for KCS’ transload operations and shippers as we drive more commercial opportunities through our digital rail logistics platform.”
About Kansas City Southern
Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south-central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
About Commtrex
Commtrex is the largest rail logistics platform empowering shippers to find and connect with transload services, storage locations, warehouses, lessors, and a wide range of service providers. Commtrex is a highly trusted, effective, and data driven platform that is modernizing how the rail industry connects. Within three years, Commtrex has grown to over 2,300 active members, many of whom are commodity shippers moving freight by rail across North America. More information about Commtrex can be found at www.commtrex.com.
KCS: C. Doniele Carlson, 816-983-1372, This email address is being protected from spambots. You need JavaScript enabled to view it.
Commtrex: Kim Turner, 504-701-1919, This email address is being protected from spambots. You need JavaScript enabled to view it.
LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a joint venture comprised of the Company and Brosamer & Wall, Inc. has been awarded a contract valued at approximately $178 million by the U.S. Department of the Interior, Bureau of Reclamation, for the Friant-Kern Canal Middle Reach Capacity Correction Phase I project in central California, southeast of Visalia.
The Friant-Kern Canal delivers water to one million acres of some of the most productive farmland in the country and provides drinking water to thousands of San Joaquin Valley residents. The project will restore water conveyance capacity in a 33-mile section of the canal’s middle reach, where it has been most restricted due to land subsidence in the area that has occurred over the past decades. When complete, the project will return the canal’s conveyance capacity from the current 1,600 cubic feet per second (cfs) to the original 4,000 cfs.
Construction is expected to begin in November 2021 with substantial completion anticipated in June 2024. Tutor Perini’s portion of the contract value is included in the Company’s third-quarter 2021 backlog.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.
Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) has received a AAA rating in the MSCI environmental, social and governance (ESG) ratings for 2021 after earning AA ratings from MSCI ESG for 10 consecutive years. The AAA rating designates Hess as a leader in managing industry specific ESG risks relative to peers.
MSCI provides research, ratings and analysis of the ESG business practices of thousands of companies worldwide. Learn more about MSCI ESG ratings here.
“We are very proud to have received MSCI ESG’s highest rating as a leader in our industry,” said Alex Sagebien, Vice President, Environment, Health and Safety. “Our AAA rating reflects our strong management practices to reduce carbon emissions as well as our top quartile performance in areas such as biodiversity and land use, reduction of air and water emissions and waste, and making a positive impact on the communities where we operate.”
Hess published its 24th annual sustainability report in 2021, which provides a comprehensive review of the company’s strategy and performance on ESG programs and initiatives.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, announced today that it has further extended its market penetration with the installation of new charging stations at Stop & Shop in Connecticut. The exact address of these charging stations is 505 N. Main Street, Southington, CT 06489.
Founded on the premise that the electrification of mobility is likely to be a transformational shift, Volta builds and operates a nationwide EV charging network that has among the best utilization per station in the EV charging industry for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta seeks to transform the fueling industry by building open-network charging stations in locations where drivers already spend their time and money, including grocery stores, pharmacies and other retail locations.
The new charging stations at Stop & Shop further Volta’s mission to build convenient, simple and delightful charging infrastructure that is seamlessly incorporated into a driver’s everyday experience.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the electric vehicle (“EV”) charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K, as amended, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Sabrina Strauss
Goodman Media International, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. (“ENN Natural Gas”).
Under the SPA, ENN LNG has agreed to purchase approximately 0.9 million tonnes per annum of LNG from Cheniere Marketing on a free-on-board basis for a term of approximately 13 years beginning in July 2022. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee. ENN Natural Gas is acting as guarantor of the SPA.
“We are pleased to announce this long-term LNG contract with ENN, a major player in China’s rapidly growing natural gas market, and we look forward to a successful, long-term relationship with ENN as a customer,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA underscores the strength of the global LNG market today, particularly in China, and highlights Cheniere’s role as a leading global LNG supplier, tailoring solutions to help meet the long-term energy needs and environmental goals of our customers. The SPA also further advances Cheniere’s commercial momentum and marks another milestone in our efforts to contract our LNG capacity on a long-term basis in anticipation of an FID of Corpus Christi Stage 3, which we expect will occur next year.”
Wang Yusuo, Chairman of the Board of ENN Natural Gas said, “China is making great efforts to achieve the goal of peak carbon emissions and carbon neutrality, boosting the reform of the natural gas market, and accelerating the structural adjustment of energy consumption. As one of the world’s leading LNG suppliers, Cheniere has great advantages on resource production and supply capacity, which is highly compatible with the fast-growing natural gas market in China. ENN is accelerating the usage of digital technology to build a modern energy system, and to promote intelligent upgrading of the natural gas industry. It is expected that the two parties will seize the opportunity of this cooperation to establish a strategic relationship, to provide clients with high quality resources and services, and to make positive efforts to the realization of peak carbon emissions and carbon neutrality in China.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission.
About ENN Natural Gas
As one of the largest private energy companies in China, ENN Natural Gas’ business layout covers the entire natural gas industry including distribution, trade, storage & transportation, production and construction. As of 30 June 2021, through its subsidiary, ENN Energy Holdings Limited, one of the largest natural gas distribution companies in China, ENN Natural Gas owns 239 city-gas projects in China, with a connectable population of 117 million. ENN Natural Gas operates the Zhoushan LNG regasification facility in Zhejiang Province, China. During 1H 2021, ENN Natural Gas’s total natural gas sales volume was 17.5 bcm, accounting for 9.6% of China’s total consumption.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Media Relations
Eben Burnham-Snyder, 713-375-5764
DUBLIN--(BUSINESS WIRE)--The "Autonomous Marine Vehicles Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global autonomous marine vehicles market is expected to grow from $3.18 billion in 2020 to $3.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to reach $5.1 billion in 2025 at a CAGR of 10.4%.
Major players in the autonomous marine vehicles market are Asv Global/ASV Unmanned Marine Systems, Atlas Elektronik, Teledyne Technologies, ECA Group, Sea Robotics Inc.
The autonomous marine vehicles market consists of sales of autonomous marine vehicles. Autonomous marine vehicles are robotic equipment that travel below or on the surface of water, without requiring input from a human operator. The autonomous marine vehicles market is segmented into autonomous surface vehicles (which travel on the surface of the water) and autonomous underwater vehicles (which travel below the surface of the water). Autonomous marine vehicles are used for various purposes such as recording oceanographic data, imaging, navigation, communication, collision avoidance and propulsion.
The autonomous marine vehicles market covered in this report is segmented by type into surface vehicle, underwater vehicle. It is also segmented by application into military & defense, archeological, exploration, oil & gas, environmental protection and monitoring, search and salvage operations, oceanography and by technology into imaging, navigation, communication, collision avoidance, propulsion.
The vulnerability of ships to cyber threats due to automation is a major restraint for the autonomous marine vehicles market. This is mainly because cyberspace and its associated infrastructure are vulnerable to a versatile range of risks coming from cyber threats and attacks. The use of automation which negates the need for human intervention on ships and in ports increases the chances of security breaches. A cyber-attack can misguide an autonomous ship to move in a different direction or move to a separate port, which can lead to misplacement and delay of goods and services.
Maritime drone swarming for better surveillance and investigation capabilities is an emerging trend in the autonomous marine vehicles market. Maritime drone swarms are a large group of underwater vehicles moving together for a particular purpose. The drone swarm has a wide range of capabilities in defence applications, since it is capable of performing surveillance and investigation tasks followed by defensive or offensive countermeasures.
As the swarm works collectively to navigate through the underwater environment, it senses a wider area in a quick time by making use of a number of sensing techniques to build a comprehensive map of the environment.
The autonomous marine vehicles market is being driven by a rise in hydrographic, oceanographic and environmental surveys conducted globally. A hydrographic survey measures, describes and maps features that can be found underwater. The main purpose of conducting these surveys is to produce navigational charts essential for safe transit of vessels.
An oceanographic survey helps in the accurate understanding of marine and freshwater environments, for port and harbor development, wastewater and industrial outfalls, power plant intakes/outfalls and offshore disposals. An autonomous surface vehicle (ASV) provides an efficient method of undertaking a hydrographic survey, as it saves both cost and time.
It is also flexible and convenient which allows for faster deployment for a number of survey requirements, from event surveys to large coastal surveys.
Key Topics Covered:
1. Executive Summary
2. Autonomous Marine Vehicles Market Characteristics
3. Autonomous Marine Vehicles Market Trends and Strategies
4. Impact Of COVID-19 On Autonomous Marine Vehicles
5. Autonomous Marine Vehicles Market Size and Growth
5.1. Global Autonomous Marine Vehicles Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Autonomous Marine Vehicles Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Autonomous Marine Vehicles Market Segmentation
6.1. Global Autonomous Marine Vehicles Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Autonomous Marine Vehicles Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Autonomous Marine Vehicles Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Autonomous Marine Vehicles Market Regional and Country Analysis
7.1. Global Autonomous Marine Vehicles Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Autonomous Marine Vehicles Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/hk2rby
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DUBLIN--(BUSINESS WIRE)--The "Gas Meter Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global gas meter market was valued at $5.8 billion in 2020, and is projected to reach $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.
Companies Mentioned
A gas meter is a flow meter, which is used to measure the fuel volume such as natural gas or liquid petroleum gas. A gas meter consists of four measurement chambers, which are separated by diaphragm. It is necessary to ensure adequate gas pressure from the main supply of natural or liquefied petroleum gas. Gas meters are widely used in various commercial places as well as large residential areas for measuring the volumetric flow rate and monthly energy bills.
Rapid industrialization has led to increase in usage of natural gas in various emerging economies with large population pool. The installation of gas meters helps in reducing the wastage of gas during transmission and distribution. Moreover, the mandatory installation of smart meters in households and commercial areas is expected to boost the market growth. In addition, increase in demand for efficient energy technologies such as implementation of IOT (internet of things) will further drive the demand for various smart meters. The implementation of IOT (internet of things) simplifies the process meter reading, and it provides web interface between consumers and service providers. In addition, replacement of old conventional meters with new smart meters will further escalate the market growth. For instance, the Government of India is planning to replace 250 million conventional meters into smart meters by 2022.
The high capital investment and integration of complex technologies are the major challenges during the initial phase. Moreover, the maintenance of gas meters is capital intensive, which makes the application limited for small residential areas.
Nonetheless, favorable government policies and rebate schemes from industry players on installation of gas meters are expected to provide new growth opportunities in the market.
The global gas meter market is segmented on the basis of product type and end user. On the basis of product type, it is divided into traditional gas meter and smart gas meter. By end user, the market is classified into residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COVID-19 Scenario Analysis
Key Benefits
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the global Gas Meter market
3.3. Market dynamics
3.3.1. Drivers
3.3.2. Restraint
3.3.3. Opportunities
3.4. Impact of government regulations on the global Gas Meter market
3.5. Patent analysis
3.5.1. By countries, 2012-2020
3.6. Impact of COVID-19 outbreak on the Gas Meter market
CHAPTER 4: GLOBAL GAS METER MARKET, BY PRODUCT TYPE
CHAPTER 5: GLOBAL GAS METER MARKET, BY END-USER
CHAPTER 6: GAS METER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/dzlc7j
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) issued an updated climate change resilience report that further details the company’s ambition to advance our lower carbon future. Chevron adopted a 2050 net zero aspiration for equity upstream Scope 1 and 2 emissions. The TCFD-aligned report describes how Chevron is incorporating Scope 3 emissions into its greenhouse gas emission targets by establishing a Portfolio Carbon Intensity (PCI) target inclusive of Scope 1 and 2 as well as Scope 3 emissions* from the use of its products.
“Solutions start with problem solving, which is exactly what the people of Chevron do – and have excelled at for over 140 years,” said Michael Wirth, Chevron’s chairman and CEO. “This report offers further insights about our strategy, how we are investing in lower-carbon businesses and why we believe this is an exciting time to be in the energy industry.”
Chevron’s new PCI target assists with transparent carbon accounting and company comparison from publicly available data. The target covers the full value chain, including Scope 3 emissions from the use of products. The company has set a greater than 5 percent carbon emissions intensity reduction target from 2016 levels by 2028. This target is aligned with Chevron’s strategy which allows flexibility to grow its traditional business, provided it remains increasingly carbon-efficient, and pursue growth in lower-carbon businesses. Chevron plans to publish a PCI methodology document and online tool to enable third parties to calculate PCI for energy companies.
Chevron’s 2050 equity upstream Scope 1 and 2 net zero aspiration builds on the company’s disciplined approach to target setting and action. The path to this net zero aspiration anticipates partnerships with multiple stakeholders and progress in technology, policy, regulations, and offset markets.
“We regularly engage with stakeholders and investors to understand their views and to be responsive to their increasing expectations on all issues, including ESG,” said Dr. Ronald Sugar, Chevron’s lead director. “Our updated report demonstrates our goal to partner with many stakeholders to work toward a lower carbon future.”
The full report is online here.
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 our lower carbon strategy, we are focused on lowering the carbon intensity in our operations and growing lower carbon businesses. More information about Chevron is available at www.chevron.com.
* Scope 1 includes direct emissions of the six Kyoto Protocol greenhouse gases (GHG)--carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), sulfur hexafluoride, perfluorocarbons, and hydrofluorocarbons. Scope 2 includes indirect GHG emissions from imported electricity and steam. Scope 3 includes other indirect emissions, including use of products. The PCI includes Scope 3 emissions from the use of products. More information is available in our updated climate change resilience report, which is aligned with Task Force on Climate-Related Disclosures (TCFD).
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,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires,” 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. Our ability to achieve the goals, targets, and aspirations outlined in this news release depends on making extensive progress with independent third parties, including development of policy and regulatory support, technological advancement, successful commercial negotiations, availability of cost-effective and verifiable offsets in a global market, and the granting of necessary permits by governing authorities. 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 (OPEC) 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 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 startup 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 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, industry-specific taxes, 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 2020 Annual Report on Form 10-K. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Sean Comey -- +1-925-842-5509
Discussing how utilities can embrace change and leverage satellite analytics and AI to decrease costs, improve reliability metrics, and increase safety for team members and consumers
SANTA CLARA, Calif.--(BUSINESS WIRE)--AiDash will speak on the importance of critical data insights for utilities of all sizes at Utility Analytics Institute’s UA Week conference in Dallas, Texas. The conference takes place Oct. 1315, 2021.
AiDash’s senior manager of customer success, Jordan Jozak, will be joined by United Power’s vegetation management and construction project specialist, Holly Woodings. They will deliver a talk entitled “AiDash: Transforming United Power's Vegetation Management with Satellite Technology,” on Friday, October 15, at 9:45 AM (CT). In this session, they will discuss how United Power has used AiDash Intelligent Vegetation Management System (IVMS) to better plan their vegetation management (VM) activities, increase reliability and decrease VM costs.
AiDash IVMS combines high-resolution, multispectral satellite images with on-ground reports to provide increased visibility on the overgrowth of vegetation around transmission and distribution grids. AiDash’s platform pulls critical operations and maintenance data points into one centralized system. Its proprietary AI models identify and leverage crucial data points such as tree growth rates, historic weather data, and the location of transmission and distribution lines to help utilities optimize their vegetation management programs.
“It’s important for the utility industry to embrace change. Leveraging satellite technology, AI, and data to optimize our vegetation management program, save money, and strengthen our wildfire mitigation plans with AiDash’s platform is all part of United Power’s plan to look toward the future. It’s one more key point to stay ahead of the game. And it’s important for utilities, regardless of their size, to be able to embrace technology,” said Woodings.
To learn more about the conference and other speakers, access the full agenda here: https://www.utilityanalyticsweek.com/uaweek/inperson_agenda
About AiDash
AiDash is an AI-first vertical SaaS company enabling satellite and AI powered operations, maintenance and sustainability for industries with geographically distributed assets. AiDash uses high-resolution multispectral and SAR data from the world’s leading satellite constellations that are fed into its proprietary AI models to make timely predictions at scale. These AI models empower AiDash’s full-stack applications that transform O&M for utility, energy, transportation, water and wastewater, mining and construction companies. Visit aidash.com.
About United Power
United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. The cooperative is one of the fastest-growing electric cooperatives in the nation, and in June joined the elite ranks of cooperatives serving more than 100,000 meters. The 900 square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. For more information about the cooperative, visit www.unitedpower.com or follow them on social media Facebook, Twitter, LinkedIn, YouTube and Instagram.
About Utility Analytics Institute
Utility Analytics Institute enables utility transformation through analytics. Transforming into a data decision-based company is one of the most difficult transitions a utility will have to make to thrive in the new energy economy. It’s more than just managing massive amounts of data, implementing the right tools and technology, and people and process management. It’s ensuring you have proper change management processes in place to address cultural challenges, as well as data management and governance plans, and best practice and compliant security strategies in place. It’s implementing the best organizational structure for your utility, and hiring and retaining talented staff, plus so much more! UAI brings together the leading utilities who are serious about tackling these challenges and together we concentrate on utility analytics. Visit utilityanalytics.com.
Bradley Smith
This email address is being protected from spambots. You need JavaScript enabled to view it.
408-703-1099
DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced that its Billingham Complex in the United Kingdom will continue to operate through at least January 2022 after its UK subsidiary reached carbon dioxide (CO2) pricing and offtake agreements with its industrial gas customers in the country.
The agreements between the UK subsidiary and its industrial gas customers run through the end of January 2022. During this period, it is expected that the UK government and industrial gas customers will develop robust alternative sources of CO2 as part of a long-term solution for meeting demand in the country. The Billingham Complex is capable of producing 750 tonnes of CO2 per day for commercial use as a byproduct of the ammonia production process.
“We are pleased to have reached a commercial solution that enables the Billingham Complex to continue to operate through January, alleviating near-term CO2 supply concerns in the UK,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “We want to thank The Honorable Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy, his staff and our industrial gas customers for the speed and spirit of cooperation that have marked our discussions over the past three weeks. We look forward to working with them in the future as they develop a longer-term solution to CO2 supply and to support sustainable and competitive UK ammonia and fertilizer production.”
CF Industries’ Ince Complex in Chester, UK, will remain offline. The Company does not have an estimate for when production will resume at the facility.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
Media
Chris Close
Director, Corporate Communications
847-405-2542 – This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Martin Jarosick
Vice President, Investor Relations
847-405-2045 – This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage, Medium Voltage), Application (Pump, Fan, Compressor, Propeller (With Shaft Generator, Without Shaft Generator), Crane & Hoist), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The marine VFD market is projected to reach USD 1,075 million by 2026 from an estimated USD 804 million in 2021, at a CAGR of 6.0% during the forecast period.
There is increasing demand for more efficient systems which can save wastage of energy and help to reduce the emission from the maritime sector. Also, there is a shift towards electric and hybrid systems to reduce dependency on fossil fuel and for more clean power. Apart from these there is adoption of IoT across all the sectors including shipping sector. Thus, the marine VFD market is gaining momentum, and there exists a lot of untapped potential in this market.
The compressor segment is expected to grow at the highest CAGR from 2021 to 2026.
Based on the application of marine VFD systems, the compressor segment is estimated to be the fastest-growing market from 2019 to 2026. A compressor is a multipurpose device used in various applications, ranging from the cleaning of filters to starting the main or secondary engines of a ship. Compressors are also used to run the propellers in a ship.
Medium voltage VFD is expected to emerging market by voltage
VFDs with a voltage of more than 1000 V are considered under the medium voltage segment. The use of these drives helps in improving efficiency, thereby reducing the overall operating costs. These VFDs are generally used for critical applications and main components of the system installed on a ship. Recently introduced hybrid engines in the shipping industry have boosted the demand for medium-voltage VFDs, and this segment is expected to witness strong growth during the forecast period.
Asia Pacific: The largest marine VFD market
Asia Pacific accounted for the largest share of 51.1% of the marine VFD market amongst all regions in 2020. Asia is a major maritime transport player - not only as a consumer of marine transport services and a major maritime hub but also as a producer of such services. The region has been segmented by country into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. The continuous significance of Asia as a manufacturing hub has boosted the intra-Asian container trade boom, with South-East Asia playing an increasingly important role. Moreover, in the past few years, this region has witnessed rapid economic development as well as growth in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/e2s86r
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil plans to build its first, large-scale plastic waste advanced recycling facility in Baytown, Texas, and is expected to start operations by year-end 2022.
By recycling plastic waste back into raw materials that can be used to make plastic and other valuable products, the technology could help address the challenge of plastic waste in the environment. A smaller, temporary facility, is already operational and producing commercial volumes of certified circular polymers that will be marketed by the end of this year to meet growing demand.
“We’ve proven our proprietary advanced recycling technology in Baytown, and we’re scaling up operations to supply certified circular polymers by year-end,” said Karen McKee, president of ExxonMobil Chemical Company. “Availability of reliable advanced recycling capacity will play an important role in helping address plastic waste in the environment, and we are evaluating wide-scale deployment in other locations around the world.”
The new facility follows validation of ExxonMobil’s initial trial of its proprietary process for converting plastic waste into raw materials. To date, the trial has successfully recycled more than 1,000 metric tons of plastic waste, the equivalent of 200 million grocery bags, and has demonstrated the capability of processing 50 metric tons per day.
Upon completion of the large-scale facility, the operation in Baytown will be among North America’s largest plastic waste recycling facilities and will have an initial planned capacity to recycle 30,000 metric tons of plastic waste per year. Operational capacity could be expanded quickly if effective policy and regulations that recognize the lifecycle benefits of advanced recycling are implemented for residential and industrial plastic waste collection and sorting systems.
ExxonMobil is developing plans to build approximately 500,000 metric tons of advanced recycling capacity globally over the next five years. In Europe, the company is collaborating with Plastic Energy on an advanced recycling plant in Notre Dame de Gravenchon, France, which is expected to process 25,000 metric tons of plastic waste per year when it starts up in 2023, with the potential for further expansion to 33,000 metric tons of annual capacity.
The company is also assessing sites in the Netherlands, the U.S. Gulf Coast, Canada, and Singapore.
To meet customer demand for circular polymers, ExxonMobil has obtained certifications through the International Sustainability and Carbon Certification Plus (ISCC Plus) process for several of its facilities. ISCC Plus is widely recognized by industry as an effective system to certify products that result from advanced recycling using mass balance attribution of plastic waste.
To help address the need for increased collection and sorting of plastic waste, ExxonMobil formed a joint venture with Agilyx Corporation, Cyclyx International LLC, focused on developing innovative solutions for aggregating and pre-processing large volumes of plastic waste that can be converted into feedstocks for valuable products. Cyclyx will help supply ExxonMobil’s advanced recycling projects, and will aim to do the same for other customers.
ExxonMobil is a founding member of the Alliance to End Plastic Waste, which is focused on accelerating investment in safe, scalable and economically viable solutions to help address the challenge of plastic waste in the environment through a portfolio of projects that has grown to more than 30 ongoing projects across several countries.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn.
Cautionary Statement: Statements of future events, investment opportunities or conditions in this release are forward-looking statements. Actual future results, including project plans, timing, capacities, and costs and recycled waste volumes could vary depending on the ability to execute operational objectives on a timely and successful basis; the ability to scale projects and technologies on a commercially competitive; the outcome of future research and technology development programs, including the future success of collaborative efforts; the development and pace of supportive market conditions and policies including support for waste collection and sorting and advanced recycling; changes in laws and regulations including environmental laws and taxes; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
ExxonMobil Media Relations:
(972) 940-6007
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (“Chevron”, NYSE: CVX) today announced (i) the results of its previously announced 23 separate offers (the “Offers”) to purchase for cash the notes of the series listed in the table below (collectively, the “Notes”) and (ii) that it has amended the Offers by increasing the applicable Maximum Purchase Amount from $2.0 billion to $2,609,010,000. The Offers were made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 4, 2021 relating to the Notes (the “Offer to Purchase”) and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”) and, as applicable, the letter of transmittal (together with the Offer to Purchase and Notice of Guaranteed Delivery, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.
The Offers expired at 5:00 p.m. (Eastern time) on October 8, 2021 (the “Expiration Date”). The Initial Settlement Date will be the first business day after the Expiration Date and is expected to be October 12, 2021. The Guaranteed Delivery Settlement Date will be the first business day after the Guaranteed Delivery Date and is expected to be October 14, 2021.
According to information provided by D.F. King & Co, Inc., the Information Agent and Tender Agent in connection with the Offers, $4,187,829,000 combined aggregate principal amount of the Notes were validly tendered prior to or at the Expiration Date and not validly withdrawn. In addition, $28,108,000 combined aggregate principal amount of the Notes were tendered pursuant to the Guaranteed Delivery Procedures and remain subject to the Holders’ performance of the delivery requirements under such procedures. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Notes validly tendered and not validly withdrawn prior to the Expiration Date and the aggregate principal amount of Notes reflected in Notices of Guaranteed Delivery delivered at or prior to the Expiration Time pursuant to the Tender Offer Documents.
Acceptance Priority Level |
Title of Security |
Issuer |
CUSIP/ISIN |
Principal Amount Outstanding (millions) |
Total Consideration (1) |
Principal Amount Tendered(2) |
Principal Amount Accepted(2) |
Principal Amount Reflected in Notices of Guaranteed Delivery |
1 |
7.250% Senior Debentures Due 2097 |
Noble Energy, Inc. |
655044AS4/ US655044AS49 |
$84 |
$1,833.56 |
$24,012,000 |
$24,012,000 |
— |
2 |
5.250% Notes due 2043 |
Chevron U.S.A. Inc. |
166756AU0/ US166756AU09 |
$996 |
$1,370.22 |
$666,797,000 |
$666,797,000 |
$1,230,000 |
3 |
5.250% Notes due 2043 |
Noble Energy, Inc. |
655044AG0/ US655044AG01 |
$4 |
$1,370.22 |
$1,310,000 |
$1,310,000 |
— |
4 |
6.000% Notes due 2041 |
Chevron U.S.A. Inc. |
166756AT3 /US166756AT36 |
$839 |
$1,471.53 |
$448,055,000 |
$448,055,000 |
$8,120,000 |
5 |
6.000% Notes due 2041 |
Noble Energy, Inc. |
655044AE5 /US655044AE52 |
$11 |
$1,471.53 |
$290,000 |
$290,000 |
— |
6 |
5.050% Notes due 2044 |
Chevron U.S.A. Inc. |
166756AV8 /US166756AV81 |
$845 |
$1,343.50 |
$621,743,000 |
$621,743,000 |
$1,003,000 |
7 |
5.050% Notes due 2044 |
Noble Energy, Inc. |
655044AJ4 /US655044AJ40 |
$5 |
$1,343.50 |
$5,060,000 |
$5,060,000 |
— |
8 |
4.950% Notes due 2047 |
Chevron U.S.A. Inc. |
166756AW6 /US166756AW64 |
$495 |
$1,365.85 |
$308,380,000 |
$308,380,000 |
$922,000 |
9 |
4.950% Notes due 2047 |
Noble Energy, Inc. |
655044AN5 /US655044AN51 |
$5 |
$1,365.85 |
$4,245,000 |
$4,245,000 |
— |
10 |
7.840% Medium-Term Notes, Series 1992 due 2033 |
Texaco Capital Inc. |
88168LCV6 /US88168LCV62 |
$10 |
$1,521.00 |
$0 |
$0 |
— |
11 |
8.000% Debentures due 2032 |
Texaco Capital Inc. |
881685BB6 /US881685BB68 |
$75 |
$1,518.05 |
$13,887,000 |
$13,887,000 |
— |
12 |
2.978% Notes Due 2040 |
Chevron Corporation |
166764BZ2 /US166764BZ29 |
$500 |
$1,038.82 |
$206,458,000 |
$206,458,000 |
$1,212,000 |
13 |
8.625% Debentures due 2032 |
Texaco Capital Inc. |
881685AY7 /US881685AY70 |
$147 |
$1,561.36 |
$25,000,000 |
$25,000,000 |
— |
14 |
8.625% Debentures due 2031 |
Texaco Capital Inc. |
881685AX9 /US881685AX97 |
$108 |
$1,549.33 |
$5,938,000 |
$5,938,000 |
$105,000 |
15 |
4.200% Notes due 2049 |
Chevron U.S.A. Inc. |
166756AX4 /US166756AX48 |
$474 |
$1,245.02 |
$257,937,000 |
$257,937,000 |
$7,306,000 |
16 |
4.200% Notes due 2049 |
Noble Energy, Inc. |
655044AR6 /US655044AR65 |
$26 |
$1,245.02 |
$0 |
$0 |
— |
17 |
7.250% Notes due 2023 |
Chevron U.S.A. Inc. |
166756AM8 /US166756AM82 |
$90 |
$1,134.72 |
$45,099,000 |
$0 |
— |
18 |
7.250% Notes due 2023 |
Noble Energy, Inc. |
654894AE4 /US654894AE49 |
$10 |
$1,134.72 |
$5,535,000 |
$0 |
— |
19 |
3.191% Notes Due 2023 |
Chevron Corporation |
166764AH3 /US166764AH30 |
$2,250 |
$1,041.80 |
$731,881,000 |
$0 |
$2,473,000 |
20 |
2.566% Notes Due 2023 |
Chevron Corporation |
166764BK5 /US166764BK59 |
$750 |
$1,032.26 |
$177,355,000 |
$0 |
$751,000 |
21 |
3.900% Notes due 2024 |
Chevron U.S.A. Inc. |
166756AP1 /US166756AP14 |
$625 |
$1,092.04 |
$259,316,000 |
$0 |
$2,294,000 |
22 |
3.900% Notes due 2024 |
Noble Energy, Inc. |
655044AH8 /US655044AH83 |
$25 |
$1,092.04 |
$16,766,000 |
$0 |
— |
23 |
2.895% Notes Due 2024 |
Chevron Corporation |
166764BT6 /US166764BT68 |
$1,000 |
$1,053.00 |
$362,765,000 |
$0 |
$2,692,000 |
________________________________ |
||
(1) |
|
The Total Consideration for each series of Notes (such consideration, the “Total Consideration”) payable per each $1,000 principal amount of such series of Notes validly tendered for purchase. |
(2) |
|
The amounts exclude the principal amounts of Notes for which Holders have complied with certain procedures applicable to guaranteed delivery pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase). Such amounts remain subject to the Guaranteed Delivery Procedures. Notes tendered pursuant to the Guaranteed Delivery Procedures are required to be tendered at or prior to 5:00 p.m., New York City time, on October 13, 2021. |
Overall, $2,589,112,000 principal amount of Notes have been accepted for purchase. The amounts in the foregoing sentence also exclude Notes delivered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase). The Maximum Purchase Condition (after giving effect to the increase described above) has been satisfied with respect to the Offers in respect of the series of Notes with Acceptance Priority Levels of 1-16. Accordingly, all Notes of those series that have been validly tendered and not validly withdrawn at or prior to the Expiration Time have been accepted for purchase. Because the Maximum Purchase Condition was not satisfied with respect to the series of Notes with Acceptance Priority Levels lower than 16, Chevron has not accepted any Notes of such series (as indicated in the table above) and will promptly return all validly tendered Notes of such series to the respective tendering Holders.
Upon the terms and subject to the conditions set forth in the Tender Offer Documents, Holders whose Notes have been accepted for purchase by us, will receive the applicable Total Consideration specified in the table above for each $1,000 principal amount of Notes, as applicable, which will be payable in cash. In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will be paid the Accrued Coupon Payment. Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers, including those tendered through the Guaranteed Delivery Procedures.
Chevron retained J.P. Morgan Securities LLC and Barclays Capital Inc. to act as the lead dealer managers for the Offers and BNP Paribas Securities Corp., Standard Chartered Bank, and SG Americas Securities, LLC to act as co-dealer managers of the Offers. Questions regarding the terms and conditions for the Offers should be directed to J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-3424 (collect) or Barclays at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).
D.F. King & Co, Inc. acted as the Tender Agent and the Information Agent for the Offers. Questions or requests for assistance related to the Offers or for additional copies of the Offer to Purchase may be directed to D.F. King & Co, Inc. at (866) 796-7184 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Tender Offer Documents can be accessed at the following link: http://www.dfking.com/chevron.
The tender offers are subject to the satisfaction of certain conditions. If any of the conditions is not satisfied, Chevron is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event subject to applicable laws, and may terminate or alter any or all of the Offers.
GENERAL
This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers were made solely pursuant to the Offer to Purchase. The Offers were not made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
No action has been or will be taken in any jurisdiction that would permit the possession, circulation or distribution of either this announcement, the Offer to Purchase or any material relating to us or the Notes in any jurisdiction where action for that purpose is required. Accordingly, neither this announcement, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from any such country or jurisdiction, except in compliance with any applicable rules or regulations of any such country or jurisdiction.
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
This news release contains forward-looking statements that are based on management's current expectations, estimates and projections. 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,” “aspires,” and similar expressions are intended to identify such forward-looking statements. 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 any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results and future prospects or that could cause events or circumstances 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 (OPEC) and other producing countries; 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 we operate; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; our 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; technological developments; the results of operations and financial condition of our suppliers, vendors, partners and equity affiliates; the inability or failure of our 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 our operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond our 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; our 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; our 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.
Sean Comey -- +1 925-842-5509
ORLANDO, Fla.--(BUSINESS WIRE)--Siemens Energy announced today the successful delivery and installation of three single phase Pretact® GSU Sensformer™ transformers that were deployed to provide a solution in response to a failed conventional transformer at a combined cycle power plant.
The Pretact transformers are designed to serve as replacement equipment in the event of transformer outages. These are multi-voltage, modular transformers that can be deployed anywhere and configured to match customer requirements using biodegradable insulating fluids that reduce environmental risks during transport and operation. They also offer smart technology that transmits real-time data to a cloud-based storage, analytics and visualization platform to allow for performance optimization.
Siemens Energy is leasing the transformers to the facility, which made it possible for the power plant to return to service in less than two months from a forced outage caused by a failure of their existing, conventional GSU transformer. The Pretact Sensformers will be in service until Siemens Energy delivers a new, permanent replacement transformer. The project is part of the Pretact transformer program that aims for rapid deployment of equipment to minimize outage times.
Society depends on reliable electricity, as long-term power interruptions can have disastrous consequences. Siemens Energy is focused on improving grid resiliency by offering mobile plug-and-play units that can quickly restore power after a failure at either a substation or generating facility or to avoid disruptions during grid maintenance and upgrades. Compared to conventional transformer replacements, which might not be available for 9 to 12 months after an outage, the easy-to-install Pretact technology allows for rapid reinforcement of a power grid in an emergency or due to unexpected events, as well as during seasonal peak loads or when networks expand.
Wade Lauer, senior vice president of Siemens Energy’s Transmission division in North America said, “This is the first time a multi-voltage GSU has been leased to customers as a flexible transformer replacement option. Being able to rapidly deploy innovative replacement equipment is key to enhancing grid resiliency here in the U.S. so that we can help our customers keep the lights on.”
Scott Gray, operations manager for Siemens Energy Transformers USA said, “Upon notification of the failure the Siemens Energy team was able to confirm a technical match, negotiate terms, mobilize to the storage location, and prepare the units for shipment within 2-1/2 weeks. The equipment was delivered to the customer site the next week, and was fully assembled, oil filled and tested in less than two weeks from mobilization to site.”
This press release and a press picture / press pictures / further material is available at www.siemens‑energy.com/press
For further information on Pretact® transformers, please see https://www.siemens-energy.com/global/en/offerings/power-transmission/portfolio/transformers.html
Follow us on Twitter at: www.twitter.com/siemens_energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
Siemens Energy is a trademark licensed by Siemens AG.
Stacia Licona
Phone: +1 (281)-721-3402
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
BOSTON--(BUSINESS WIRE)--#BatteryResourcers--Orbia leads again with an additional $70 million in funding to support Battery Resourcers in expanding its global operations in commercial lithium-ion battery recycling. Orbia Ventures and Koura initiated this funding round after steering the investor syndicate that backed closed-loop lithium-ion battery recycler and manufacturer Battery Resourcers to develop its first commercial processing facility. Orbia and Koura have been joined by Hitachi Ventures, InMotion Ventures (JLR), Doral Energy, At One Ventures, TDK Ventures and Trumpf Ventures for this investment.
Analysts predict at least 145 million active electric vehicles (EVs) on the road by 2030 and governments worldwide are implementing adoption incentives and lithium-ion battery recycling mandates for EVs reaching end-of-life. With this investment round, Battery Resourcers will bring two additional commercial-scale processing facilities online in 2022 to meet surging demand for battery recycling and sustainably-sourced materials.
Sameer Bharadwaj, CEO of Orbia, said, “Battery Resourcers has made incredible progress in developing their industry-leading battery recycling and manufacturing technology. The advancements in pilot stage, combined with this round of funding, enables the company to rapidly scale to meet customer demand.”
Bharadwaj continued, “What first drew Battery Resourcers and Orbia together was a shared commitment to advancing lives around the world by developing technologies that enable wider adoption of renewables. Today, Battery Resourcers offers us a compelling investment as well as development opportunities that leverage our combined capabilities to deliver sustainable solutions for industries and consumers.”
Orbia, a global leader in specialty products and innovative solutions spanning the precision agriculture, data communications, building and infrastructure, fluorinated solutions and polymer solutions verticals, first announced its Series B investment in Battery Resourcers in April 2021 through its Orbia Ventures arm.
Koura, Orbia’s business focused on the development, manufacture and supply of fluoroproducts and technologies, is engaged in several initiatives with Battery Resourcers to develop and deploy technologies to recycle battery materials and enable gains in efficiency and sustainability. Koura is executing on a comprehensive energy materials strategy with an emphasis on electrolyte salts, binders and high-performance electrolyte additives and solvents from its new Koflyte line. In addition, Koura is working with Battery Resourcers to integrate recycled materials into the battery supply chains in North America and Europe and is supporting Battery Resourcers’ commercialization efforts in those markets.
Said Mike O’Kronley, CEO of Battery Resourcers, “The partnership we have with Orbia and Koura has blossomed from a vision for a circular future and through solving for the most critical part of an integrated supply chain: the battery chemistries themselves. Koura’s ownership of raw assets and expertise in battery materials is second to none. Together, I look forward to driving the clean transition locally and globally.”
About Orbia
Orbia is a community of companies bound by a shared purpose: to advance life around the world. The Orbia companies have a collective focus on ensuring food security, connecting communities to data infrastructure, reducing water scarcity, reinventing the future of cities and homes and expanding access to health and wellness with basic and advanced materials and solutions. Orbia operates in the Precision Agriculture, Data Communications, Building and Infrastructure, Fluorinated Solutions and Polymer Solutions sectors. The company has commercial activities in more than 110 countries and operations in over 50, with global headquarters in Mexico City, Boston, Amsterdam, and Tel Aviv. To learn more, please visit http://www.orbia.com.
About Koura
Koura is a global leader in the development, manufacture, and supply of fluoroproducts that play a fundamental role in enhancing everyday lives. Koura is a part of the Orbia community of companies, working together to tackle some of the world’s most complex challenges. Koura’s products are used in a vast range of applications including the construction of towns and cities, keeping homes cool, food fresh and even in the treatment of respiratory conditions. Headquartered in Boston, Koura has commercial activities across the world, with operations in the United Kingdom, Mexico, United States, India and Japan.
About Battery Resourcers
Based in Worcester, Massachusetts, Battery Resourcers operates the world’s most efficient lithium-ion battery recycling process. A vertically integrated recycling, refining and materials engineering company, Battery Resourcers turns spent batteries and production scrap directly into new, battery-ready cathode active material with significant reductions in costs, emissions and energy consumption. Founded in 2015 with a mission of returning 100% of battery active materials back into new batteries, the company today makes EV-grade, finished cathode active materials that perform as well as industry-leading brands.
Kacy Karlen
Global Head of Communications, Orbia
This email address is being protected from spambots. You need JavaScript enabled to view it.
865-410-3001
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today it will release financial results for the third quarter of 2021 on Thursday, November 4, 2021 after market close, followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific). President and Chief Executive Officer of Clean Energy Andrew J. Littlefair and Chief Financial Officer Robert M. Vreeland will host the call.
Investors interested in participating in the live call can dial 1.877.300.8521 from the U.S. and international callers can dial 1.412.317.6026. A telephone replay will be available approximately two hours after the call concludes through Saturday, December 4 by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 10160722.
There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
Robert M. Vreeland, CFO
This email address is being protected from spambots. You need JavaScript enabled to view it.
NASHVILLE, Tenn.--(BUSINESS WIRE)--#EMAP--Schneider Electric, the global leader in the digital transformation of energy management and automation, and UL, the global safety science leader, today announced the new Extended Manufacturing Assembly Process (EMAP) enabling UL authorized assemblers to apply the UL Certification Mark to a compliant product at a location that is outside of the physical location manufacturing factories. With a new process that is all-digital, Schneider Electric is the world’s first manufacturer of electrical distribution equipment, devices and software to utilize EMAP. Unveiled with the new FlexSeT switchboard, Schneider Electric has launched the industry’s first device compliant with the process’s rigorous standards. EMAP-authorized assembly sites must meet the same qualifications as a UL authorized factory through three key steps in the overall process:
UL and Schneider Electric collaborated to create the Extended Manufacturing Assembly Process to enhance the assembly experience with digital integrations that offer efficiency, accuracy, and time savings. The process provides a best-in-class digital journey through the design, build, and operate phases, making assembly, maintenance, and updates easy to manage throughout the product lifecycle.
By creating a unique “digital twin” for each product, assemblers are guided step-by-step through the assembly process by a visual model, and customers and maintenance workers can easily identify any components requiring updates or replacement. The modular design also provides more seamless installation and maintenance without specialized training for different devices.
“We are incredibly proud of the standards EMAP sets for the industry and the trust it provides for businesses around the world,” said Milan Dotlich, Vice President and General Manager, Energy and Industrial Automation for UL. “The process we’ve developed with Schneider Electric provides much-needed opportunities to expand the scope of cutting-edge equipment outside of a select few locations, while still ensuring every device meets the highest level of quality for safety and reliability.”
“As the first UL-certified switchboard utilizing EMAP in the industry, FlexSeT is the next step in the digital transformation of the industry,” said Guillaume Le Gouic, Senior Vice President of Power Systems at Schneider Electric. “We’re extremely grateful to UL for their leadership and collaboration in establishing the new process, and the commitment it provides to our customers and distributors.”
To learn more about the new FlexSeT switchboard and EMAP compliance, visit se.com/us/flexset. Purchases can be made through local distributors or Schneider Electric.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. www.se.com
Discover Life Is On | Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Hashtags: #EMAP #UL #FlexSeT #TheFutureIsSet #LifeIsOn #SchneiderElectric
Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
PR Agency for Schneider Electric – Ed Cruz; 805-535-5013; This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.