New Product Extends Popular EQUAfrac Shaped Charge Line
HOUSTON--(BUSINESS WIRE)--Titan Division of Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, today introduced its new EQUAfrac® Limited consistent-hole shaped charges.
EQUAfrac Limited is designed for applications requiring the lowest variation in entry hole diameter with limited penetration. This charge line addition expands on the technology that made EQUAfrac shaped charges the ideal solution for obtaining consistent entry hole size, optimal penetration and minimal debris in unconventional completions.
Field results show EQUAfrac Limited technology can provide entry hole sizes with less than 5% variation in hole diameter, and in some cases less than 3%, depending on gun size and casing type. With EQUAfrac Limited, Hunting now offers efficient shaped charges for both limited and extended penetration, consistent-hole applications.
About Hunting
Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Kenya, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, South Africa, United Arab Emirates and the United States of America.
The company’s Hunting Energy Services Titan Division engineers and manufactures perforating systems, wireline selective firing systems, cased hole logging instruments, nuclear detectors, energetics, and associated wireline hardware and accessories.
Business Contact: John Feuerstein, Hunting, 281-442-7382, This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--#MidlandBasin--Milestone Environmental Services, LLC (“Milestone”), the largest independent provider of oilfield waste disposal services in the U.S., announced today that the New Mexico Oil Conservation Division (“NMOCD”) has approved the company’s permit for an oilfield waste slurry injection facility near Jal, in Lea County. The facility, the first of its kind permitted in New Mexico, required multiple permits from the NMOCD, including a permit to inject oilfield waste and a solid waste management permit. These permits mark Milestone’s first move into the New Mexico side of the Permian Basin, the heart of the most prolific oil and gas production basin in the United States.
Milestone’s proprietary slurry injection process is both an economically efficient and environmentally superior method for oilfield waste disposal. Using this process, Milestone captures drilling, completion, and production waste and reinjects it back into the earth through a network of facilities located throughout the Permian Basin and the Eagle Ford Shale. The reinjection of hydrocarbon-contaminated waste is a form of permanent carbon sequestration, and thus materially reduces the carbon footprint of oil and gas operations. In addition to reducing carbon footprint, Milestone’s disposal methods enable E&P operators to avoid soil and groundwater contamination risks associated with onsite disposal methods that dispose of waste above the water table.
The permitted location is on Highway 128 just 14 miles west of Jal, New Mexico, in the Delaware Basin, providing New Mexico operators with the opportunity to dispose of oilfield waste liquids using this carbon negative and environmentally advanced solution.
“Milestone is proud to partner with the State of New Mexico and the petroleum industry to provide our carbon-negative disposal solution to oil and gas operators in the state,” said Milestone President and CEO Gabriel Rio. “In the severely depressed 2020 energy environment, our customers have an urgent need to simultaneously reduce their costs while working to reduce the environmental impact of their operations. Milestone is proud to be part of the answer to both challenges.”
Approval of the permit is the culmination of years of development efforts by the Milestone team, and is a valuable addition to Milestone’s unrivaled network of patented slurry facilities across the Permian Basin.
About Milestone Environmental Services
Milestone Environmental Services is an oilfield waste disposal services provider with an environmentally focused, cost-effective, and efficient approach to managing oilfield waste. Milestone operates strategically located, state-of-the-art disposal facilities that provide dependable, local services for leading U.S. oil and gas operators. Milestone is a premium provider of oilfield waste disposal, operating for more than 25 years. The company is headquartered in Houston, Texas, and currently operates eight oilfield waste disposal locations in the Permian Basin and Eagle Ford Shale. For more information, please visit www.Milestone-ES.com.
Media Contact: Jessica Clements, This email address is being protected from spambots. You need JavaScript enabled to view it.
FORT WORTH, Texas--(BUSINESS WIRE)--Lonestar Resources US Inc. (the “Company” or “Lonestar”) (NASDAQ: LONE) today announced that it and certain of its direct and indirect wholly-owned domestic subsidiaries (collectively with the Company, the “Debtors”) have entered into a Restructuring Support Agreement (the “Support Agreement”) with its largest stakeholders that will eliminate approximately $390 million in aggregate debt obligations and preferred equity interests.
Under the terms of the Support Agreement, approximately $250 million of the Company’s 11.250% Senior Notes due 2023 (the “Notes”) will be converted to equity and accrued interest thereon will be extinguished. In addition, lenders under the Company’s revolving credit facility who agree to accept the Plan (as defined below) will, among other things, receive their pro rata share of warrants (the “New Warrants”) to purchase up to 10% of the new equity interests in the Company (subject to dilution only by the issuance of new equity interests under a management incentive plan (“MIP Equity”)), revolving loans under the exit revolving credit facility, and term loans under the second-out exit term facility. Holders of preferred equity interests in the Company will receive their pro rata share of 3% of the new equity interests in the Company (subject to dilution by the MIP Equity and the New Warrants) and holders of existing Class A Common Stock in the Company will receive their pro rata share of 1% of the new equity interests in the Company (subject to dilution by the MIP Equity and New Warrants).
Under the terms of the Support Agreement, the Debtors would effectuate the proposed transactions through a prepackaged plan of reorganization (the “Plan”) under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”). The Company has already obtained support for the proposed transactions from lenders holding 100 percent of the aggregate principal amount outstanding under its revolving credit facility, noteholders holding approximately 67.1 percent of the aggregate principal amount outstanding under its Notes, and holders of 100 percent of its preferred equity interests.
The Company is confident, based on the Support Agreement, that it will be able to meet its financial commitments and otherwise continue to operate its business as usual throughout the restructuring period. The Company anticipates funding the Cases and continuing to operate the business with cash-on-hand and certain proceeds from the consensual termination of the Debtors’ existing hedging arrangements with certain lenders under its revolving credit facility. The Support Agreement contemplates that the Company will continue operating its business without disruption to its customers, vendors, partners or employees. In addition, the Support Agreement contemplates that unsecured trade creditors will be paid in full under the Plan.
“We have carefully considered our options in the unprecedented environment faced by the energy industry and concluded that a consensual restructuring is in the best interest of the Company. In combination with our efforts to meaningfully reduce our capital and operating costs, the significant reduction in leverage that this transaction will afford the Company will position Lonestar to be highly competitive going forward,” said Frank D. Bracken III, Chief Executive Officer of the Company.
The Company is represented in this matter by Latham & Watkins LLP, Hunton Andrews Kurth LLP, Intrepid Partners LLC, Rothschild & Co US Inc. and AlixPartners, LLP.
About Lonestar
Lonestar is an independent energy company, focused on the development, production and acquisition of unconventional oil, natural gas liquids and natural gas properties in the Eagle Ford Shale in Texas.
Forward Looking Statements
This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties and projections of results of operations or of financial condition or forecasts of future events that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” “forward” or “continue” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this communication include statements concerning management’s expectations of plans, strategies, objectives, growth and anticipated financial and operational performance, financial prospects; anticipated sources and uses of capital; the transactions contemplated by the Support Agreement, including the restructuring of the Company, including the expected benefits of these transactions, business strategies, anticipated sources and uses of capital, future financial prospects and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the inability to complete the Plan, or the restructuring; risks related to disruption of management’s attention from ongoing business operations due to the Chapter 11 Cases to be filed by the Debtors or the restructuring; and the effects of future litigation, including litigation relating to the Chapter 11 Cases or the restructuring. Forward-looking statements can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. These forward-looking statements speak only as of the date of this communication, and the Company expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of the Company, including the most recent Forms 10-K and 10-Q for additional information about the Company and about the risks and uncertainties related to the Company’s business which may affect the statements made in this communication.
No Solicitation or Offer
Any new securities to be issued pursuant to the restructuring transactions may not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws but may be issued pursuant to an exemption from such registration provided in the U.S. bankruptcy code. Such new securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.
Chase Booth
817-921-1889
LONDON--(BUSINESS WIRE)--#Oilandgasengineeringprocurementconstructionmanagementmarket--The Global Oil and Gas Engineering, Procurement, Construction Management Industry is poised to experience spend growth of more than USD 10 billion between 2020-2024 at a CAGR of over 4.27%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
Read the 120-page research report with TOC and LOE on "Global Oil and Gas Engineering, Procurement, Construction Management Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."
SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Oil and Gas Engineering, Procurement, Construction Management Industry procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Information on Latest Trends and Supply Chain Market Information Knowledge center on COVID-19 impact assessment
Insights into the Market Price Trends
Insights to help buyers identify and shortlist the most suitable suppliers for their Oil and Gas Engineering, Procurement, Construction Management Industry requirements. This procurement report answers the following questions:
To get instant access to over 1000 market-ready procurement intelligence reports without any additional costs or commitment, Subscribe Now for Free.
Insights into strategies that will help buyers optimize their category management practices. The report answers the following questions:
Some of the top Oil and Gas Engineering, Procurement, Construction Management Industry suppliers enlisted in this report
This Oil and Gas Engineering, Procurement, Construction Management Industry procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more https://www.spendedge.com/request-for-demo
SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us
Growing Global Electric Vehicle (EV) Adoption is Huge Opportunity for Enevate's Advanced Battery Technology
IRVINE, Calif.--(BUSINESS WIRE)--Enevate, a pioneer in advanced silicon lithium-ion (Li-ion) battery technology for electric vehicles (EV), announced that it has reached a major milestone of more than 300 patents issued and in process. Enevate licenses intellectual property and transfers technology to EV automotive and battery makers worldwide.
The company’s patent portfolio has grown significantly over the past year, with a more than 50 percent increase in new patents issued and in process over the last year.
“Enevate has been intensely focused on developing innovative battery technology in the global race to provide auto and battery makers with low-cost manufacturing solutions that will enable the kind of fast-charging capability demanded by consumers and accelerate the worldwide adoption of EVs,” said Enevate Founder and Chief Technology Officer Dr. Benjamin Park. “The progress we’ve made on the technical front is reflected in the growth and scope of our patent portfolio. Enevate is committed to protecting our technology through a robust, worldwide patent program in support of the company’s licensing and technology transfer efforts.”
Dr. Park noted that Enevate now holds the largest portfolio of patents related to silicon Li-ion cell technologies when compared to startups worldwide, and includes a broad spectrum of advanced Li-ion cell innovations, from anode to cathode, electrolyte, separator, formation, cell design and cell architecture. Enevate now has patents in jurisdictions covering over 95% of EV sales worldwide.
Earlier this year, the company announced its 4th generation XFC-Energy® technology, a game-changer for the EV industry, providing a path to produce extreme fast charge EV batteries at low cost and high-volume production that can charge as fast as refueling a gas car, while also delivering on longer range, improved safety, and lower cost. Enevate is currently working with multiple automotive OEMs and EV battery manufacturers to commercialize its technologies, enabling them to utilize existing manufacturing infrastructure with minimal new investment, facilitating the next-generation of EVs that will surpass today’s capabilities.
“Our patent portfolio represents continuing innovations by our scientists and engineers to develop cutting edge, cost effective EV silicon-dominant Li-ion battery technology in support of the growing global EV industry,” said Dr. Park. “I’m proud of our team and our robust and industry-leading patent pipeline as we accelerate development of EV battery technology ideally suited for mass commercialization.”
ABOUT ENEVATE (www.enevate.com)
Enevate develops and licenses advanced silicon-dominant Li-ion battery technology for electric vehicles (EVs). With a portfolio of more than 300 patents issued and in process, Enevate’s pioneering advancements in silicon-dominant anodes and cells have resulted in battery technology that features five-minute extreme fast charging with high energy density, low temperature operation for cold climates, low cost and safety advantages over conventional Li-ion batteries.
Enevate’s vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. The Irvine, California-based company has raised over $110 million from investors including Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung, Mission Ventures, Infinite Potential Technologies, Tsing Capital, Draper Fisher Jurvetson, Presidio Ventures – a Sumitomo Corporation company, Lenovo, CEC Capital and Bangchak. Enevate®, the Enevate logo, XFC-Energy®, HD-Energy®, and eBoost® are registered trademarks of Enevate Corporation.
Bill Blanning
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (714) 916-4309
White Paper analyzing 12,854 Permian Basin oil and gas wells shows DirtWork Alert™ satellite imagery service accurately predicts new oilfield drilling ahead of any other source
HOUSTON--(BUSINESS WIRE)--#Sourcewater--Sourcewater, Inc., the technology leader in upstream energy and water intelligence, released its white paper, “Permian Basin Well Pads versus Drilling Permits for Predicting New Drilling.” The research, led by a Rice University research scholar, analyzed 12,854 Permian Basin oil and gas wells to measure the time and probability relationships between drilling permits, new drilling events and oilfield well pads detected in Sourcewater’s patented DirtWork Alert™ satellite imagery AI/ML analytics service.
Key findings include that 1 in 5 Texas drilling permits and only 1 in 2 New Mexico permits were ever drilled. At the same time, satellite imagery detection of well pad construction predicted fully one-third of all drilled wells on median almost three months ahead of any drilling permit filing. Moreover, drilling permits paired with satellite-detected well pads were far more likely to be drilled than permits without a well pad, in about half the time of permit without a pad.
“Traditional energy intelligence relies on regulatory records such as drilling permits and completion reports,” said Sourcewater Founding CEO Josh Adler. “These public data are self-reported, often late, missing or erroneous, and do not even attempt to track some of the most important energy activities on the ground. Sourcewater is pioneering AI/ML analysis of satellite imagery to identify energy activity that never shows up in regulatory data, or shows up too late to matter. We contextualize those results in the best data gathering, analytics and geospatial visualization platform in the industry to show upstream energy activity earlier and better than any other source. In a tough time for our industry, we are applying all our creativity, technology and perseverance to give our clients an edge.”
To get a free copy of the White Paper, visit: https://info.sourcewater.com/permian-dirtwork-white-paper
About Sourcewater
Sourcewater, Inc., (www.sourcewater.com) an MIT spinout based in Houston, Texas, is the technology leader in upstream energy and water intelligence. Sourcewater gathers, analyzes and visualizes satellite imagery, regulatory data and subsurface insights to show oilfield activity earlier, more completely and more accurately than any other source. The company has been granted nine U.S. patents.
Camille Alfaro, Director of Marketing
P: +1 (713) 909-4664
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
AECOM will leverage its industry-leading digital capabilities to deliver the core scope of services and enable collaboration across global teams
LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, has been appointed to design transport and utilities backbone infrastructure for NEOM, a new model for urbanization and sustainability located in the northwest region of Saudi Arabia. In addition to design services, AECOM’s scope will also include environmental and geotechnical support.
“We are excited to be playing such a pivotal part in delivering one of the world’s largest and most complex infrastructure projects,” said Lara Poloni, AECOM’s president. “As the centerpiece of Saudi Vision 2030, NEOM will become one of the world’s leading destinations to attract talent and investment and drive economic change in the Kingdom. Our global multi-disciplinary team of experts will bring together a diverse set of skills to deliver a sustainable project that will connect communities and create thousands of jobs across Saudi Arabia.”
NEOM will support an economy that is oriented to the future. Providing a new model for urbanization and sustainability, it will include hyper-connected towns and cities, ports and enterprise zones, entertainment venues and tourist destinations.
Speaking about the agreement, Brett Smythe, Chief Projects Officer of NEOM, said: “NEOM’s next generation cognitive cities will support its cutting-edge urban environments, improving the lives of residents and businesses far beyond the capabilities of today’s smart cities. It will be a beacon for future living. We are pleased to have one of the world’s leaders in AECOM helping to create the primary and base infrastructure to support our ambitious vision.”
Ian Laski, AECOM Arabia’s president and chief executive, said: “We are delighted to have extended our relationship with NEOM, to which we now provide project management consultancy and infrastructure design services across this transformational project,” said “We are fully committed to supporting the goals of Saudi Vision 2030 and this agreement is testament to our local presence, global reach and track record of delivering projects that enable economic diversification in the Kingdom.”
Bill Price, program director at AECOM, said: “In order to accelerate the delivery of this transformative project, our global team will be using the latest innovations to deliver a 100% digital design. Digital tools will play a vital role in the collaborative approach and stakeholder engagement, with quickly produced visualizations that are built from live design data that is geospatial accurate, enabling and unlocking the power of a data-driven design.”
Digital will play a key role in delivering the core scope of services within the program requirements, as well as achieving the vision for technological advancement. The delivery team will adopt a data-led process, providing information-rich 3D models and geospatial data. The digital delivery processes will also enable collaboration across global teams and provide them with the tools to efficiently design for construction.
This contract builds on AECOM’s appointment in July 2019 to provide project management consultancy services for phase 1 construction in NEOM.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of approximately $13.6 billion in fiscal year 2019. See how we deliver what others can only imagine at aecom.com and @AECOM.
About NEOM
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses, and reinventing environmental conservation. NEOM will be the home and workplace to more than a million residents from around the world. It will include hyperconnected, cognitive towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in ground-breaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity - all supported by a progressive law compatible with international norms and conducive to economic growth.
For further information email: This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.neom.com
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Management Services transaction, including the risk that the expected benefits of the Management Services transaction or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with the Management Services transaction will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Investor:
Will Gabrielski
Senior Vice President, Investor Relations
213.593.8208
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Brendan Ranson-Walsh
Vice President, Global Communications & Corporate Responsibility
213.996.2367
This email address is being protected from spambots. You need JavaScript enabled to view it.
AOAC certification confirms Safe Catch as undisputed authority in testing seafood for mercury
SAN FRANCISCO--(BUSINESS WIRE)--#mercurytested--Safe Catch’s revolutionary technology, which tests fish for mercury in under 60 seconds, is now certified by AOAC INTERNATIONAL as equivalent to ICP-MS testing methods utilized by the FDA. A Safe Catch mercury test is 250 times faster than an ICP-MS lab. AOAC International certification is the premier standard for verifying scientific testing methods and confirms Safe Catch is the undisputed authority in testing seafood for mercury.
Safe Catch has tested over 5 million tuna for mercury and tests more tuna fish in a day than the FDA has tested in its history. Safe Catch will share its extensive data on mercury levels in tuna and other fish with researchers so they can better understand the impact of coal plant emissions on ocean fish.
“Safe Catch invented technology to test every single fish for mercury because there is no other way to assure purity,” said Safe Catch Founder, Bryan Boches. “Two identical tuna, that are the same size and caught in the same location, can vary in mercury levels by 10 times. Some brands promote a myth that smaller tuna or pole & line caught tuna are automatically low in mercury. Verified Safe Catch testing results prove this is not the case.”
“The high levels in individual fish is a critical health concern and the basis for the EPA and FDA mercury advisories,” said Dr. Linda Birnbaum, Ph.D. scientist emeritus, former Director of the National Institute of Environmental Health Sciences and the National Toxicology Program, now a scholar in residence at Duke University. “Seafood is a nutritious source of protein and vital oils, but inadvertent consumption of mercury has always lingered as a health concern. The scientifically validated Safe Catch technology solves the mercury question for consumers, giving them a reliable and recognizable source.”
The seafood industry is aware of declining consumption due to mercury concerns. The NFI, a seafood lobby, responds with attacks against the FDA and EPA mercury advisories and comments that health issues from mercury in fish could be fake news.
“Safe Catch was started because my mom got sick and it took months for doctors to determine that she had elevated mercury levels from eating too much tuna,” said Safe Catch Founder, Sean Wittenberg. “Safe Catch is the only seafood brand to align itself with the mercury standards of the medical community, which is why our Elite Tuna has a strict limit that averages two times lower mercury than the recommendation for pregnant women and kids. Consumers recognize and appreciate our transparency around this important health benefit and are rewarding Safe Catch with their loyalty. Safe Catch is now the fastest growing seafood brand in the US as a result. Now other brands and retailers are calling us about certifying their seafood.”
Safe Catch – Protecting You and the Ocean
Safe Catch invented a proprietary technology to become the only brand to test every individual tuna for mercury. Safe Catch Elite is the lowest mercury tuna of any brand. Safe Catch Elite is Paleo certified, Whole30 certified and is the official tuna of the American Pregnancy Association. Safe Catch products are sustainably caught, Non-GMO project certified, plastic neutral and BPA NI. Safe Catch also offers salmon and sardines and will introduce a “Safe Catch Certified” program for fresh seafood. Find Safe Catch products in 12,000 stores nationwide and at safecatch.com.
Laura Baumgartner
Asylum Public Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
855-462-7958
LONDON--(BUSINESS WIRE)--#apac--The Industrial Gases market will register an incremental spend of about $ 38 billion, growing at a CAGR of 6.32% during the five-year forecast period. A targeted strategic approach to Industrial Gases sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
Key benefits to buy this report:
Information on Latest Trends and Supply Chain Market Information Knowledge centre on COVID-19 impact assessment
SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Industrial Gases market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Insights into buyer strategies and tactical negotiation levers:
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for the Industrial Gases market. The report also aids buyers with relevant Industrial Gases pricing levels, pros and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfill their category objectives.
For more insights on buyer strategies and tactical negotiation levers Click Here
To access the definite purchasing guide on the Industrial Gases market that answers all your key questions on price trends and analysis:
To get instant access to over 1000 market-ready procurement intelligence reports without any additional costs or commitment, Subscribe Now for Free.
Some of the top Industrial Gases suppliers listed in this report:
This Industrial Gases procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
This procurement report helps buyers identify and shortlist the most suitable suppliers for their Industrial Gases requirements by answering the following questions:
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Contents
Appendix
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more https://www.spendedge.com/request-for-demo
SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us
Teams from Colombia, Uganda and the U.S. selected for outstanding innovations that help meet need for clean water and adequate food supply globally
NEW YORK--(BUSINESS WIRE)--Earlier today in a virtual awards ceremony, global technology company Siemens, in collaboration with Engineering for Change (E4C), a knowledge organization, digital platform and community from the American Society of Mechanical Engineers (ASME), announced the two winners of the Innovate for Impact: Siemens Design Challenge. The winning teams produced scalable solutions addressing two of the United Nations sustainable development goals: zero hunger and clean water.
Taking the prize in the Zero Hunger category, the EcoLife Foods team introduced EcoLife Cold Room — a cold room storage solution that aids rural farmers in lessening crop loss due to poor handling and storage techniques. Targeting communities in central and southern Uganda, the cold room is made of locally sourced and recycled elements, resulting in a cooperative, affordable, and sustainable design. Representing Uganda and the U.S., the team is made up of Kyle Gaiser, Hadijah Nantambi, and Ian Williams.
“We were inspired by the opportunity to model agricultural innovations from the ground up,” said the EcoLife Foods team. “We have farmers and academics alike brainstorming insulation designs and testing manufacturing processes. This challenge gave us the opportunity to pursue research goals and accomplish our vision of providing every Ugandan - whether in a far-off village, or a densely packed informal settlement- with fresh healthy food."
Topping the competition in the Clean Water category, the Apü üya Wüin—The Guardian of Water team designed a ready-to-assemble solar-powered water desalination device. Targeting the arid La Guajira region of Colombia, the team supplemented the device with a comprehensive education strategy that assures social appropriation of the technology for the Parenskat-Wayuu community. The team consists of John Aguilar, Mónica Gutiérrez, Manuel Mejía, Sebastian Rodriguez, and Aliex Trujillo of Colombia.
“The beauty of our device is that it can be assembled and maintained without any special tools or training,” shared the Apü üya Wüin team. “We are one step closer to providing a sustainable solution to water supply in the community of Parenskat.”
Each winning solution has been awarded $10,000 (USD), as well as tailored guidance and support based on their individual product development needs. Winners will connect with the appropriate subject matter experts at Siemens and within the E4C network, and have their designs highlighted in the months ahead at events including Impact.Engineered. Winners will participate in the Impact.Engineered “Tech Gallery” alongside other hardware-led social enterprises to gain valuable exposure to global development professionals for their startup ventures.
Announced in February, the challenge was a call to action for socially minded engineers and hardware innovators who chose to either design a postharvest off-grid preservation technology to reduce farm-to-table food loss in lower resource settings or to design a low-cost, energy-efficient, scalable innovation for desalination of brackish water. Participants were made up of engineering students, practicing engineers, faculty, entrepreneurs, and global development practitioners. Competitors from 34 countries, representing 43 universities, took part in the challenge and proposed more than 220 solutions. Four finalists were announced in August for each of the two tracks.
“We created this challenge nearly a year ago with the purpose of discovery at the forefront of our goals -- and what we received in response has exceeded our expectations,” said Barbara Humpton, CEO, Siemens USA. “As we confronted a global crisis, we watched our participants adapt – utilizing digital tools to connect across the globe – resulting in more than 200 submitted solutions. Rising to the top among hundreds, I congratulate our two winners for embodying Siemens’ mission of using technology to serve society by creating two exceptional yet practical innovations.”
ASME’s E4C team architected the application and evaluation process, educated participants on human-centered design principles, and provided a variety of enabling tools and resources. Siemens provided free access and training on cutting-edge technology tools for digital design and engineering from its Xcelerator™ portfolio, including Solid Edge® software and a new co-creation platform developed with Siemens’ Mendix™ platform for low-code application development. Siemens’ software is widely used by many of the world’s leading companies to design, engineer and manufacture all types of products and infrastructure.
“Over the course of the Challenge phases, the judges focused on the most promising submissions in terms of their technological merit, adoption potential, scalability, and ultimately their impact on quality of life,” says Iana Aranda, director of engineering global development programs for ASME. “These two teams excelled consistently while integrating the judges’ feedback throughout the challenge. Their solutions truly strive for sustainability and embody the principles of human-centered design.”
For more information about Innovate for Impact: Siemens Design Challenge, please visit https://bit.ly/2UTJKmS.
Twitter| LinkedIn| Instagram| @Engineer4Change #innovate4impact #SiemensChallenge #TodayMeetsTomorrow
About Engineering for Change (E4C)
Engineering for Change (E4C) is a knowledge organization dedicated to preparing, educating, and activating the international engineering workforce to improve the quality of life of underserved communities worldwide. E4C provides access to resources, talent and platforms that accelerate the development of impactful solutions and infuse engineering rigor into global development. Our diverse, global community of over 1 million people is comprised of engineers, technologists, social entrepreneurs, and development practitioners.
Jointly founded by ASME and other leading engineering societies, E4C has attracted the support of a variety of partners and sponsors ranging from industry, academia, non-profits and multilateral organizations, and corporations including Siemens.
About ASME
ASME helps the global engineering community develop solutions to real-world challenges. Founded in 1880 as the American Society of Mechanical Engineers, ASME is a not-for-profit professional organization that enables collaboration, knowledge sharing and skill development across all engineering disciplines, while promoting the vital role of the engineer in society. ASME codes and standards, publications, conferences, continuing education, and professional development programs provide a foundation for advancing technical knowledge and a safer world. For more information visit asme.org.
About Siemens USA
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed companies Siemens Energy, the global energy business of Siemens, and Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the energy systems of today and tomorrow as well as the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy (as part of Siemens Energy), Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. For more than 160 years, the company has innovated and invented technologies to support American industry spanning manufacturing, energy, healthcare, and infrastructure. In fiscal 2019, Siemens USA reported revenue of $26.5 billion and employs approximately 50,000 people throughout all 50 states and Puerto Rico. Follow us on Twitter at: www.twitter.com/siemensUSA
Note: A list of relevant Siemens trademarks can be found here.
Media:
Monica Shovlin
MCShovlin Communications LLC
(for E4C and ASME)
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 541-554-3796
Ashley Lagzial
Siemens USA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 646-415-2946
Eric Cardwell to Address Cyber Risk Needs of Axio Industry Clients, Drive Innovation in Optimizing Security and Financial Controls in Energy & Utility Sector
NEW YORK--(BUSINESS WIRE)--#cyberriskmanagement--Axio, a leading cyber risk management Software-as-a-Service company, announced today the appointment of Eric Cardwell as the company’s Director of Cyber Risk Engineering. Mr. Cardwell will be responsible for addressing cyber risk requirements for industry clients, identifying government and trade association contracts, and driving innovation in the advancement of security and financial controls across the energy and utilities sector.
Cardwell brings nearly three decades of experience to his new role, and has a broad background in project management and compliance with continuous experience in cybersecurity, systems support, business continuity, policy development, identification of business and regulatory requirements, and translation of requirements for security and business solutions.
“Over the course of his career, Eric has established himself as a security, audit, and risk management leader. Eric brings a wealth of hands-on cybersecurity, power and utilities experience to the Axio team including previous roles at the Electric Power Research Institute (EPRI), PwC, and ABB (now Hitachi ABB Power Grids),” said Dave White, Founder and President of Axio.
Axio helps enterprises understand their cyber risk exposure, supports in effectively managing it to ensure that the company is equipped to financially recover. The Axio360 platform, industry-first cyber resilience optimization solution, recognizes security and financial controls to create an integrated risk solution with an agile approach, easily evolved as the risk landscape shifts.
“Axio360 addresses a massive pain point in cyber risk management by focusing on the financial impact of the risk and helps company executives and board members understand the value of their cybersecurity investments in relation to their overall business objectives,” said Mr. Cardwell. “As the Axio energy sector team lead, I will drive innovative research to scale actionable solutions for utilities and energy firms. I look forward to working closely with this highly-skilled and passionate team.”
Cardwell has a B.S. in Political Science from the University of Tennessee at Martin and the following certifications: Certified Information Systems Security Professional [CISSP] Certified Information Systems Auditor [CISA] and Certified in Risk Information Systems Control [CRISC].
About Axio
Axio is a leading cyber risk management SaaS company. Axio believes that all organizations should have the means to solve their unique cyber risk challenges and created the Axio360 platform to deliver on that belief. Axio360 is the only methodology and software designed to empower security leaders, senior executives, and boards of directors with the ability to confidently and continuously answer the critical questions about risk, including: Where should we invest to most effectively minimize our cyber risk and financial exposure? Axio360 cuts through complexity to give organizations a comprehensive view of cyber risk, and links business leaders to security leaders with a unified message, in language decision makers and management teams understand well: financial impact.
Media:
Sarah Thorson
Ripple Communications for Axio
This email address is being protected from spambots. You need JavaScript enabled to view it.
609-234-8531
Solar energy investments soar despite global pandemic and economic recession
SAN FRANCISCO--(BUSINESS WIRE)--#SEIA--Renewable Properties, a developer and investor of small-scale utility and community solar energy projects throughout the U.S., announces it has successfully raised $30 million from funds managed by CarVal Investors, a global alternative investment fund manager. Funds will be used to further develop Renewable Properties’ existing utility-scale solar project pipeline, expand development efforts into new and existing markets, and secure new project opportunities and acquisitions.
“At the beginning of this year I made the decision to raise more capital and expand our business based on the team I’ve proudly assembled, and CarVal’s experience in renewables made them the ideal capital partner,“ said Aaron Halimi, founder and president of Renewable Properties. “In the short term, with CarVal’s capital commitment, we plan to expand our efforts in the Northeast, in our home state of California, and continue to incorporate energy storage solutions into our projects with a goal of eventually growing our business to the point where we’re completing 100 megawatts of community-scale solar or more per year.”
This investment will enable CarVal Investors to further expand its position as a key player in clean energy investing with over $1 billion in renewable energy investments across the U.S.
“This investment is a testament to the resilience of the solar energy industry and, specifically, the team of professionals at the helm of Renewable Properties,” said Jerry Keefe, principal, CarVal Investors. “We envision this initial investment will propel Renewable Properties toward their long-term goal of completing 100 megawatts of community-scale solar annually.”
Though the COVID pandemic delayed a few project start dates, Renewable Properties is still on track to have a record 2020. With solar energy projects like the recently announced community solar projects with MCE (Soscol Ferry Road, and Silveira Ranch), Marin’s largest community solar project to date, another 16.8 megawatts across six utility-scale solar projects under construction with Duke Energy in North and South Carolina, and a handful of additional projects slated to break ground prior to the end of the year, the firm expects to start construction on 50 megawatts of solar capacity with 30 megawatts of that capacity achieving commercial operation by the end of the year.
About Renewable Properties:
Founded in 2017, Renewable Properties specializes in developing and investing in small-scale utility and community solar energy projects throughout the U.S. Led by experienced renewable energy professionals with development and investment experience, Renewable Properties works closely with communities, developers, landowners, utilities and financial institutions looking to invest in large solar energy systems. For more information about Renewable Properties, visit www.renewprop.com.
About CarVal Investors
CarVal Investors is a global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal’s experienced team has navigated through ever-changing credit market cycles, opportunistically investing $123 billion in 5,480 transactions across 82 countries. Today, CarVal Investors has approximately $9 billion in assets under management in corporate securities, loan portfolios, structured credit and hard assets. www.carvalinvestors.com
Philip Hall
#310-430-1091
This email address is being protected from spambots. You need JavaScript enabled to view it.
BUFFALO, N.Y.--(BUSINESS WIRE)--Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer and manufacturer of motion control products, technologies, automated systems and services for material handling, announced today that David Wilson, President and Chief Executive Officer, and Greg Rustowicz, Chief Financial Officer, will participate in a virtual fireside chat at the D.A. Davidson Diversified Industrials & Services Conference on Tuesday, September 22, 2020 at 11:00 a.m. Eastern Time. A live audio webcast of the event with accompanying slides will be available at www.columbusmckinnon.com. An archive of the conversation will be available at the same link following the conference.
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of motion control products, technologies and automated systems and services that efficiently and ergonomically move, lift, position and secure materials. Key products include hoists, crane components, actuators, rigging tools, light rail work stations, and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.columbusmckinnon.com.
Gregory P. Rustowicz
Vice President - Finance and Chief Financial Officer
Columbus McKinnon Corporation
716-689-5442
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Deborah K. Pawlowski
Kei Advisors LLC
716-843-3908
This email address is being protected from spambots. You need JavaScript enabled to view it.
MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) continues to grow its investment in local, large-scale solar in its latest investor newsletter, "Interim Report," which also includes the following topics:
- MGE's Morey Field Solar project serving the grid
- MGE Energy increases dividend for 45th consecutive year
- MGE Connect® tests smart devices to manage the grid
The newsletter is available on MGE Energy's website at: https://www.mgeenergy.com/interimreport
Interim Report is published quarterly to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2 billion, and its 2019 revenues were approximately $569 million.
Investor relations contact
Ken Frassetto
Director Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Leading ERCOT standalone storage developer to invest more than $100 million in recently acquired projects, expects to have a total of 100 megawatts of battery storage online in the state by year-end and 350 megawatts online in 2021
HOUSTON--(BUSINESS WIRE)--Broad Reach Power (“Broad Reach”), an independent power producer (IPP) based in Houston with more than five gigawatts of standalone storage projects in its pipeline, announced today that it has begun construction on two 100 megawatt (MW) greenfield battery storage projects. The new assets further expand the company’s rapidly growing portfolio of greenfield and acquired projects and establish Broad Reach, which expects to have 100 megawatts of battery storage online in Texas by the end of 2020 and a total of 350 MW online in the state next year, as the leading owner of standalone storage projects in the ERCOT interconnection queue.
“The grid in Texas is continuing to transform rapidly with the addition of more wind and solar generation. While these resources are desirable because they reduce costs and emissions, they add more variation and risk to an already challenging real-time balancing goal,” said Broad Reach Power Managing Partner and Chief Executive Officer Steve Vavrik, whose company owns utility scale solar and energy storage power projects. “This problem will compound as both renewable penetration and power demand increase. Deploying more energy storage systems like our units operating in Odessa and the Houston area will strengthen the grid’s reliability.”
Broad Reach plans to invest more than $100 million in the two recently acquired projects located in Mason and Williamson counties in Texas. Once online in 2021, the plants will operate alongside Broad Reach’s expanding portfolio of utility-scale battery storage plants in Texas near Houston and Odessa.
Broad Reach has additional plans to expand its storage portfolio in Texas, including several more large endeavors. The company is also replicating its successful dual greenfield and acquisition approach in California, Montana and other western markets where the company has over 700 MW of projects with signed interconnection agreements.
“Broad Reach’s tremendous and rapid growth since we backed them in September of 2019 is a testament to what a seasoned team can do with the support of highly experienced renewable energy investors like EnCap and Yorktown, and the compelling opportunity set we see in this rapidly evolving marketplace,” said EnCap Energy Transition Managing Partner Shawn Cumberland.
About Broad Reach Power
Broad Reach Power is a utility-scale storage independent power producer (IPP) based in Houston backed by leading energy investors EnCap Investments L.P., Yorktown Partners, and Mercuria Energy. The company owns a five gigawatt portfolio of utility scale solar and energy storage power projects in Montana, California, South Dakota and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach is led by a team comprised of solar, wind, and storage experts who have delivered more than four gigawatts of projects and have a combined 80 years of experience in the field. For more information about the company, visit www.broadreachpower.com.
Mike Gehrig
Pierpont Communications
+ 1 512 448-4950 (O)
+ 1 512 739-7088 (C)
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--Tortoise Acquisition Corp. (NYSE: SHLL) (“TortoiseCorp”) today announced that the Special Meeting of Stockholders (the “Special Meeting”) to approve the pending business combination between TortoiseCorp and Hyliion Inc. (“Hyliion”) is scheduled to be held on Monday, September 28, 2020, at 9:30 am Eastern time. The Special Meeting will be completely virtual and conducted via live webcast. Holders of TortoiseCorp’s shares of Class A Common Stock and Class B Common Stock at the close of business on the record date of August 24, 2020 are entitled to notice of the virtual Special Meeting and to vote at the virtual Special Meeting.
TortoiseCorp filed its definitive proxy statement with the U.S. Securities and Exchange Commission (the “SEC”) and began mailing it to stockholders on September 8, 2020. The proxy statement is available on the Investor Information section of TortoiseCorp’s website, as well as www.sec.gov. TortoiseCorp stockholders are encouraged to read the definitive proxy materials, including, among other things, the reasons for TortoiseCorp’s Board of Directors’ unanimous recommendation that stockholders vote “FOR” the business combination and the other stockholder proposals set forth in the proxy materials as well as the background of the process that led to the pending business combination with Hyliion.
TortoiseCorp stockholders who need assistance in completing the proxy card, need additional copies of the proxy materials, or have questions regarding the Special Meeting may contact TortoiseCorp’s proxy solicitor, Morrow Sodali LLC, by telephone at (800) 662-5200 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Tortoise Acquisition Corp.
Tortoise Acquisition Corp. (NYSE: SHLL) is a special purpose acquisition company formed for the purpose of effecting a merger, stock exchange, acquisition, reorganization or similar business combination with one or more businesses. TortoiseCorp’s expertise spans across the entire energy and infrastructure value chain. Our strategy has been to combine with a company to take advantage of the global opportunities created by the energy transition including clean energy generation and storage, alternative fuels and transportation, technological advances and changes in energy policies.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding TortoiseCorp’s proposed acquisition of Hyliion and TortoiseCorp’s ability to consummate the transaction 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, TortoiseCorp disclaims 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. TortoiseCorp cautions 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 TortoiseCorp. In addition, TortoiseCorp cautions 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 agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against TortoiseCorp or Hyliion; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of TortoiseCorp, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts TortoiseCorp’s or Hyliion’s current plans and operations; (v) Hyliion’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Hyliion to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Hyliion may be adversely affected by other economic, business, and/or competitive factors. 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 different 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 TortoiseCorp’s periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019. TortoiseCorp's SEC filings are available publicly on the SEC’s website at www.sec.gov.
Investor Contact:
Morrow Sodali LLC
Donna Corso or Ryan Loeveless
(800) 662-5200
(Banks and Brokers call collect at (203) 658-9400)
This email address is being protected from spambots. You need JavaScript enabled to view it.
CAIRO, Ill.--(BUSINESS WIRE)--A new agreement announced today could position Cairo, Illinois as a national logistics and distribution hub for the rapidly expanding intermodal container shipping industry. The agreement between the Alexander Cairo Port District, Plaquemines Port Harbor & Terminal District and American Patriot Container Transport would make the proposed Cairo river port terminal a model for 21st century inland waterway shipping and key logistics terminal for the newest inland waterway vessels that are larger, faster and more efficient than anything on US waterways today.
The Alexander Cairo Port, being developed in Illinois at the confluence of the Mississippi and Ohio rivers, and the Plaquemines Port, located at mile 50-55 on the Mississippi River, both agreed to provide intermodal container-handling services for American Patriot Container Transport’s next-generation container shipping vessels.
American Patriot’s patented designed Liner vessels can transport 2,375 twenty-foot length containers (TEUs) – the equivalent of six trainloads of cargo or 2,375 semi-trucks, while the Hybrid design can carry up to approximately 1700 TEUs. The vessels can safely travel upriver at three times the speed of traditional inland tows, providing faster shipping times and cost savings of up to 45% over other options. By maximizing cargo capacity and running on LNG fuel, the American Patriot vessels can greatly reduce the carbon footprint and environmental impact of shipping while decreasing rail and truck congestion and logistics cost.
Plaquemines Port announced on August 13th that it is developing a state-of-the-art container terminal capable of handling 22,000-TEU class container vessels moving goods to and from international markets via the Gulf of Mexico. The Cairo port would serve as a vital link between the Midwest, the new Plaquemines terminal, and global markets.
On August 4th, Governor J.B. Pritzker announced that the State of Illinois would invest $40 million in the development and construction of the Cairo port through the Rebuild Illinois capital plan. The state’s investment will allow the Cairo project to take advantage of the container shipping opportunities created by the agreement.
Container shipping plays a critical role in the global trade of items ranging from agricultural products and building materials to consumer goods. With demand for container ports projected to increase 260% by 2025, industry players are looking at Cairo, Illinois as a new option to provide faster, more reliable, cost efficient and “greener” container shipping for international trade.
“The shipping industry is evolving rapidly and creating a huge opportunity for state-of-the-art inland ports like the one being developed here in Cairo,” said Sal Litrico, CEO of American Patriot Container Transport. “We’re proud to partner with Alexander Cairo Port District as we develop a cost efficient and more environmentally friendly shipping option to help keep America more competitive in the global markets.”
“The Mississippi River is the key to unlocking the Midwest’s supply chain advantages, and the new port in Cairo will provide a direct link to the global maritime trade sector that is set to double in the next 10 years,” said Sandy Sanders, Executive Director of the Plaquemines Port Harbor & Terminal District. “We’re look forward to working with Cairo to help drive economic growth all along the Mississippi River.”
“The Alexander Cairo Port will provide a resource that American industry needs to reach national and global markets, while creating economic growth and good jobs for Southern Illinois in the process,” said Larry Klein, chairman of the Alexander Cairo Port District. “We’re honored to partner with these leaders in the industry and look forward to building a facility that is ready for the future of global shipping.”
“The Cairo port is designed to serve growing, high-value markets in order to create long-term success for all of our partners,” said Todd Ely, lead consultant for the port district and president of Ely Consulting Group. “The agreements we’re announcing today move us toward that goal and will attract a wide range of industries to Cairo.”
The Alexander Cairo Port Authority has spent years developing a new Mississippi River port terminal that would include a state-of-the-art intermodal rail design capable of handling both containers and other valued cargoes, high speed cranes and other terminal capabilities needed to support modern container shipping logistical requirements. The port will also serve as a hub for moving bulk agricultural products and other materials for domestic and global markets. Eighty percent of inland barge traffic in the U.S. passes by Cairo’s strategic location. The new port will be serviced by Class 1 railroads and several major highways and will be protected from flooding by recently reinforced levees.
Peter Gray, Aileron Communications
312-883-5044 This email address is being protected from spambots. You need JavaScript enabled to view it.
DALLAS--(BUSINESS WIRE)--Flowserve Corporation, (NYSE: FLS) (“Flowserve” or the “Company”), a leading provider of flow control products and services for the global infrastructure markets, today announced the pricing of a public offering of $500 million of its 3.500% senior notes due 2030. The offering is expected to close on September 21, 2020, subject to customary conditions.
The notes will be general senior unsecured obligations of the Company and will rank equally in right of payment with the Company’s existing and future senior unsecured indebtedness. Interest will be paid semi-annually on April 1 and October 1, beginning April 1, 2021. The Company intends to use the net proceeds from the sale of the notes to finance a cash tender offer (the “Tender Offer”) for any and all of the €500 million outstanding aggregate principal amount of its previously issued 1.250% EUR Senior Notes due 2022 (the “2022 Notes”). To the extent any net proceeds exceed the amount used to repurchase the 2022 Notes in the Tender Offer, the Company intends to use the net proceeds for general corporate purposes.
BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as the joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus for the offering may be obtained by contacting: BofA Securities, Inc. at 200 North College Street, 3rd Floor, Charlotte, NC 28255, Attn: Prospectus Department, Email: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll-Free: 1-800-294-1322; J.P. Morgan Securities LLC at: 383 Madison Avenue, New York, NY 10179, Attn: Investment Grade Syndicate Desk-3rd Floor or by calling collect at (212) 834-4533; or Wells Fargo Securities, LLC at: 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Email: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll-Free: 1-800-645-3751. An electronic copy of the prospectus supplement and accompanying base prospectus for the offering may also be obtained at www.sec.gov.
The notes were offered and will be sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission, and only by means of a prospectus supplement and accompanying base prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about the Company can be obtained by visiting the company’s website at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
Using the company’s innovative X-Engine, LiquidPiston is working with the U.S. Army and its xTechSearch small business technology competition to develop new UAV propulsion and aircraft auxiliary power systems
BLOOMFIELD, Conn.--(BUSINESS WIRE)--#Army--LiquidPiston, Inc., developer of advanced rotary internal combustion engines for diesel and jet fuels, today announced it received a Small Business Innovation Research (SBIR) Phase I grant from the U.S. Army for the development of its X-Engine as a hybrid-electric propulsion platform for UAVs. The company showcased its X-Engine powered propulsion platform in a successful parallel hybrid UAV demonstration using jet fuel, watch the first flight here [short version; longer version]. The company was also named one of 12 winners in the U.S. Army xTechSearch 3.0, a prize competition to award and accelerate innovative technology solutions that can help solve key Army challenges, for its X-Engine configured as a high-efficiency auxiliary power unit (APU). These new aviation applications of LiquidPiston’s X-Engine technology demonstrate the versatility of the X-Engine system and its ability to provide compact, fuel-efficient power for manned or unmanned aircraft using military-grade heavy fuels such as JP8.
“This SBIR award and xTechSearch 3.0 innovation competition showcases the Army’s interest in innovative, fuel-efficient power sources to deliver the power needed to support Future Vertical Lift (FVL) Modernization Priorities,” said Alec Shkolnik, CEO and co-founder of LiquidPiston. “When we reimagined the rotary engine with the X-Engine, we knew it could be used to improve power generation in a number of different ways, given its high power-to-weight, efficiency, and ability to run on heavy fuel including Jet-A / JP8 fuel which the Army wants to use exclusively. The versatility of LiquidPiston’s X-Engine enables the company to provide hybrid-electric power generation in various form factors, which makes it uniquely suited to serve not just FVL, but all 6 of the Army’s modernization priorities.”
The X-Engine, a rotary engine that operates on the company’s patented High-Efficiency Hybrid Cycle (HEHC), is the perfect power source for a hybrid-electric propulsion platform because of its compact size and fuel efficiency. UAVs with Vertical Take Off and Landing (VTOL) capabilities enable the Army to launch and land UAVs on a small area and set up and stow quickly while the X-Engine hybrid-electric power system allows minimization of heavy, low energy density onboard batteries. The X-Engine, configured as a parallel electric hybrid, also provides UAVs with the unique ability to cruise in “quiet mode” using electric-only power, with the ability to restart the engine mid-flight, enabling more efficient fuel usage and stealthier missions. The ability to do this on jet fuel has not previously been demonstrated in other vehicles currently fielded.
The flexibility of the X-Engine can further be seen with the company’s development of various APU concepts for Army aircraft and land vehicles. The company entered into the xTechSearch competition with a high-efficiency aviation APU concept for rotorcraft. The proposed unit is compact, highly-efficient, and can perform the typical on-ground APU functions but also functions in-flight to offload the main engines in providing supplementary power for hydraulics, heating and cooling, and addresses the increasing power demands of the onboard electronics, weapons and other equipment. In APU applications, the X-Engine approaches the power density and packaging similar to a turbine-based APU, with the efficiency of a Diesel engine. Today’s APU’s are only 5-10% efficient, making them useful for only short periods on the ground. The LiquidPiston APU would offer substantial gains in power and efficiency and offload the main engines, allowing a helicopter substantial gains in range, or adding a passenger or other payload capability.
The X-Engine, when matured and deployed, will help to provide the increasing power requirements for direct and hybrid electric propulsion for the US Army Future Tactical UAS (FTUAS) and other DoD UAS programs as well as Auxiliary Power Units (APUs), Supplemental Power Units (SPUs) and Power & Thermal Management Systems (PTMS) for manned rotorcraft and fixed wing aircraft.
Dr. William Cohen, Chief Technology Officer of the U.S. Army Assistant Secretary of the Army (Acquisition, Logistics and Technology) i.e. ASA(ALT), said “Advanced power generation and alternative fuels are critical for the Army, and we continuously seek new technologies that can materially improve our ability to execute national security missions. Reliable engine technologies that offer a wide range of sustainable applications, from UAVs to auxiliary power units for air and land vehicles, can increase endurance and lessen reliance on contested or extended supply lines. Potential benefits include increased reliability and access to power, increased redundancy within the power distribution network, reduced logistics footprint associated with fuel distribution, and extended operational reach.”
To learn more about these developments, LiquidPiston’s X-Engine, and participation in the Army xTechSeach click here. For media assets click here.
The xTechSearch, or Expeditionary Technology Search competition, was first launched in June 2018 by the United States Assistant Secretary of the Army for Acquisition, Logistics, and Technology (ASA(ALT)), which serves as the Army Acquisition Executive. The competition is a four-phase catalyst for the Army to engage with the community of innovators such as LiquidPiston.
About LiquidPiston, Inc.
LiquidPiston, Inc. develops compact, quiet, fuel-efficient, low-vibration, multi-fuel capable combustion engines that are scalable from one horsepower to over 1,000. The company’s patented High Efficiency Hybrid Cycle (HEHC), an improved thermodynamic cycle, and engine architecture enable the company to create engines optimized for fuel efficiency. LiquidPiston’s engines have only two primary moving parts - a shaft and rotor - resulting in compact size and low-vibration operation. Although they are rotary engines, LiquidPiston’s engines are not Wankel engines; they are uniquely configured to adopt the company’s patented thermodynamic cycle and its associated efficiency and low-noise benefits. To learn more, visit www.liquidpiston.com.
Media Contact
Chelsea Higgins
BIGfish Communications for LiquidPiston
This email address is being protected from spambots. You need JavaScript enabled to view it.
DALLAS--(BUSINESS WIRE)--The Trustees of Texas Pacific Land Trust (NYSE:TPL) (the “Trust”) announced today that, while the Trust continues to make progress toward effecting its planned corporate reorganization into a Delaware corporation, the Trust now aims to be in a position to move forward with the reorganization by the end of the fourth quarter of 2020.
The decision to extend the timeline was related in part to the large number of assets impacted by the reorganization and unanticipated effects of COVID-19 on working with governmental offices to obtain necessary information and update official records. This decision was also made following consultation with the members of the Conversion Exploration Committee. The Trust will continue to work toward completing the corporate reorganization but recognizes that ongoing impacts of COVID-19 and other unanticipated disruptions could continue to extend the intended timeframe despite the Trust’s efforts.
Further information regarding the corporate reorganization will be included in a registration statement on Form 10 for Texas Pacific Land Corporation when publicly filed with the Securities and Exchange Commission.
About Texas Pacific Land Trust
Texas Pacific Land Trust is one of the largest landowners in the State of Texas with approximately 900,000 acres of land in West Texas. The Trust was organized under a Declaration of Trust to receive and hold title to extensive tracts of land in the State of Texas, previously the property of the Texas and Pacific Railway Company, and to issue transferable Certificates of Proprietary Interest pro rata to the holders of certain debt securities of the Texas and Pacific Railway Company. Texas Pacific Land Trust’s Trustees are empowered under the Declaration of Trust to manage the lands with all the powers of an absolute owner. Texas Pacific Land Trust is not a REIT.
Visit the Trust at www.tpltrust.com.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain 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, that are based on the Trust’s beliefs, as well as assumptions made by, and information currently available to, the Trust, and therefore involve risks and uncertainties that are difficult to predict. Generally, future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and the words “believe,” “anticipate,” “continue,” “intend,” “expect” and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the corporate reorganization and other references to strategies, plans, objectives, expectations, intentions, assumptions, future operations and prospects and other statements that are not historical facts. You should not place undue reliance on forward-looking statements. Although the Trust believes that plans, intentions and expectations, including those regarding the corporate reorganization, reflected in or suggested by any forward-looking statements made herein are reasonable, the Trust may be unable to achieve such plans, intentions or expectations and actual results, performance or achievements may vary materially and adversely from those envisaged in this news release due to a number of factors including, but not limited to: a determination of the Trustees of the Trust not to provide final approval of all actions and transactions necessary to effect the corporate reorganization; a determination that the corporate reorganization will not be tax-free to the Trust and holders of the Trust’s sub-share certificates; the SEC declining to declare effectiveness of filings necessary to effect the corporate reorganization; the NYSE declining to approve the listing of common stock of the new corporation on the NYSE; the occurrence of any event, change or other circumstances that could give rise to the abandonment of the corporate reorganization; changes or uncertainties in the expected timing, likelihood or completion of the corporate reorganization; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the corporate reorganization; the potential impacts of COVID-19 on the global and U.S. economies as well as on the Trust’s financial condition and business operations; risks related to disruption of management time from ongoing business operations due to the corporate reorganization; the initiation or outcome of potential litigation; and any changes in general economic and/or industry specific conditions. Except as required by law, the Trust undertakes no obligation to publicly update or revise any such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or referred to herein, see the Trust’s annual report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC.
(214) 969-5530
Chris Steddum
Vice President, Finance and Investor Relations
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.