HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.545 per share payable Sept. 18, 2020 to stockholders of record on Sept. 4, 2020.
ABOUT WASTE MANAGEMENT
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.
Waste Management
Website
www.investors.wm.com
Analysts
Ed Egl
713.265.1656
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Media
Janette Micelli
602.579.6152
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HAMILTON, Bermuda--(BUSINESS WIRE)--International General Insurance Holdings Ltd. (“IGI” or the “company”) (NASDAQ: IGIC) today announced the appointment of Brian James as Class Underwriter for Cargo.
Brian brings over 30 years of experience in the cargo industry, and joins from Neon Underwriting, where he was Class Underwriter. Prior to this, Brian spent over a decade at Wellington Underwriting where he was responsible for establishing Wellington’s Syndicate Services and Wellington Genoa, following acquisition by Catlin.
Reporting to Mark Trevitt, Marine Class Underwriter, Brian will be based in IGI’s London office, and will be responsible for developing a niche portfolio of general cargo business, focusing on specific elements of the general cargo market, specifically medium-sized accounts and largely transit only, as well as cargo “war on land” risks. Brian’s appointment further strengthens IGI’s team and its growing marine portfolio.
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About IGI:
IGI is an international specialist commercial insurer and reinsurer, underwriting a diverse portfolio of specialty lines. Established in 2001, IGI is an entrepreneurial business with a worldwide portfolio of energy, property, construction & engineering, ports & terminals, financial institutions, casualty, legal expenses, general aviation, professional indemnity, marine liability, political violence, forestry and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Dubai, Amman, Labuan and Casablanca, IGI always aims to deliver outstanding levels of service to clients and brokers. IGI is rated “A” (Excellent)/Stable by AM Best and “A-”/Stable by S&P Global Ratings. For more information about IGI, please visit www.iginsure.com.
Forward-Looking Statements:
This press release may include “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the business of IGI may differ from its actual results and, consequently, you should not rely on forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to current or future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of IGI and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) changes in demand for IGI’s services together with the possibility that IGI may be adversely affected by other economic, business, and/or competitive factors globally and in the regions in which it operates; (2) competition, the ability of IGI to grow and manage growth profitably and IGI’s ability to retain its key employees; (3) changes in applicable laws or regulations; (4) the potential inability to recognize the anticipated benefits of the transaction with Tiberius; (5) the outcome of any legal proceedings that may be instituted against the parties in connection with or related to the business combination agreement and the transactions contemplated therein; (6) the potential effects of the COVID-19 pandemic; (7) the inability to maintain the listing of the Company’s common shares or warrants on Nasdaq; and (8) other risks and uncertainties indicated in IGI’s annual report on Form 20-F for the year ended December 31, 2019, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The foregoing list of factors is not exclusive. In addition, forward-looking statements are inherently based on various estimates and assumptions that are subject to the judgment of those preparing them and are also subject to significant economic, competitive, industry and other uncertainties and contingencies, all of which are difficult or impossible to predict and many of which are beyond the control of IGI. There can be no assurance that IGI’s financial condition or results of operations will be consistent with those set forth in such forward-looking statements. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. IGI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
IGI
Investors:
Robin Sidders, Head of Investor Relations
T: + 44 (0) 2072 204937
M: + 44 (0) 7384 514785
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Media:
Aaida Abu Jaber, PR & Marketing Manager
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MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy has elected a new board member, effective immediately.
Patricia L. Kampling brings four decades of experience in the energy industry, having recently retired from her role as chairman and CEO of Alliant Energy Corporation in Madison, Wisconsin. Prior to that, she held leadership roles at Exelon Corporation and the former IPSCO Corporation.
Pat joined Alliant Energy in 2005 as Vice President of Finance and was named Chief Financial Officer in 2009. In 2011, she was named President and Chief Operating Officer and, in 2012, she assumed the role of Chairman and CEO, a position she held until her retirement in July 2019.
Under her leadership, the company achieved financial and operational objectives while also obtaining creative and constructive regulatory outcomes. Pat also guided the company on its journey toward a cleaner, smarter energy future, while ensuring the 1.5 million customers Alliant serves had access to a more resilient energy grid and a diverse, sustainable energy mix.
“Pat not only brings a wealth of experience to Xcel Energy, she also shares our vision of leading the clean energy transition, while keeping service reliable and customer bills low,” said Ben Fowke, chairman and CEO of Xcel Energy. “Additionally, Pat joins us in our commitment to workforce development and to diversity and inclusion. It’s a great match and we look forward to welcoming her to our Board of Directors.”
Pat actively supports STEM-related education programs and partnerships with non-profit organizations that focus on education, families and the environment. Throughout her tenure at Alliant Energy, the company focused on enhancing its culture of safety, diversity and employee well-being with an array of programs and opportunities that foster employee diversity, health, and personal and professional growth.
Pat holds an M.B.A. from the University of Chicago and degrees in economics and engineering from Swarthmore College. She is also a Registered Professional Engineer.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Xcel Energy Media Relations
(612) 215-5300
www.xcelenergy.com
SEJONG, South Korea--(BUSINESS WIRE)--#CollaboratingToHarmonizeMaritimeDigitalization--The Republic of Korea’s Ministry of Oceans and Fisheries (MOF) is hosting a virtual e-Navigation Underway Conference (ENUW) from September 8th to 9th under the theme of ‘Collaborating to harmonize maritime digitalization’. The Conference will be held using a virtual platform, and is being co-organized with the Danish Maritime Administration (DMA) and the International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA).
The series of ENUW Conferences, which were respectively held by the DMA for the European region from 2012, the US Coast Guard for the North American region from 2014, and the MOF for the Asia Pacific region from 2017, have been the catalyst facilitating the global development and implementation of e-Navigation.
This Conference will focus on initiating the ‘Digital@Sea Initiative’ as a global cooperation framework on maritime digitalization. Building on the IMO-led e-Navigation initiative, this Conference will explore future, digital maritime services and communication networks, challenges with maritime digitalization, and international cooperation.
DMA Director General, Mr. Andreas Nordseth, stressed that as well as increasing international cooperation on maritime digitalization in a comprehensive way, the Digital@Sea Initiative will lead to the practical implementation of many digitalization initiatives.
“International, Global harmonization of Standards is absolutely necessary for a successful implementation of the ambitious digital maritime agenda. The ENUW and Digital@Sea series of Conferences are a perfect step in that direction” IALA Secretary General, Mr. Francis Zachariae says.
At the Conference the MOF and Navelink will showcase the Maritime Connectivity Platform (MCP), demonstrating its use for the delivery of maritime digital services. The MCP is a platform that realizes global maritime digital services including the IMO’s e-Navigation maritime services. Mr. Sunbae Hong from the MOF says, “It is expected that more maritime communities will get most of their benefits and solutions from e-Navigation and through the MCP.”
This year’s Conference and official showcase will use real-time video in an online platform that allows more than 500 people to join in the discussion, and it will be livestreamed on YouTube. The Conference is free to attend. More information and the ability to register for the Conference is available on the Conference website (https://e-navap.org).
Ministry of Oceans and Fisheries
ENUW AP 2020 Secretariat
Eunice Kim
+82-70-7688-3161
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MIDLAND, Texas--(BUSINESS WIRE)--Concho Resources Inc. (NYSE: CXO) (the “Company”) today released its inaugural 2020 Sustainability Report. The report outlines Concho’s approach to sustainability, details the Company’s environmental, social, governance and safety performance and includes an update to the Company’s 2019 Climate Risk Report. The 2020 Sustainability Report is available at www.concho.com/sustainability.
Tim Leach, Chairman and Chief Executive Officer, commented, “At Concho, we strive to produce efficient and reliable energy, and we believe our efforts contribute to improving quality of life around the world. Our role in supplying a competitive energy source is one we take seriously, and sustainability is core to our strategy and success. This inaugural report demonstrates our progress and commitment to advancing our sustainability initiatives, increasing transparency of our performance and continuing a dialogue on these important matters.”
Highlights and achievements from the 2020 Sustainability Report include:
Concho’s 2020 Sustainability Report was informed by key frameworks and reporting guidance, including the Sustainability Accounting Standards Board, Global Reporting Initiative and Oil and Gas Industry Guidance on Voluntary Sustainability Reporting by IPIECA. Preparation of the report was also informed by the recommendations from the Task Force for Climate-Related Financial Disclosures. This approach enables us to address disclosure and material issues related to these frameworks and guidance and to provide a comprehensive review of our progress and activities related to sustainability.
Concho Resources Inc.
Concho Resources (NYSE: CXO) is one of the largest unconventional shale producers in the Permian Basin, with operations focused on safely and efficiently developing and producing oil and natural gas resources. We are working today to deliver a better tomorrow for our shareholders, people and communities. For more information about Concho, visit www.concho.com.
Forward-Looking Statements and Cautionary Statements
The foregoing contains “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. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company based on management’s experience, expectations and perception of historical trends, current conditions, current plans, anticipated future developments, expected financings and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include the risk factors and other information discussed or referenced in the Company’s most recent Annual Report on Form 10-K and other filings with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Information on Concho’s website is not part of this press release.
INVESTOR RELATIONS
Megan P. Hays
Vice President of Investor Relations & Public Affairs
432.685.2533
MEDIA
Mary T. Starnes
Manager of Public Affairs & Corporate Responsibility Strategy
432.221.0477
DUBLIN--(BUSINESS WIRE)--The "Flame Detector Market with COVID-19 Impact, by Product (Single UC, Single IR, Dual UV/IR, Triple IR, Multi IR), Industry (Oil & Gas, Energy & Power, Chemicals, Aerospace & Defense, Logistics) and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global flame detector market was valued at USD 1.6 billion in 2019 and is projected to reach USD 2 billion by 2026; it is expected to grow at a CAGR of 4.2% from 2020 to 2026. Key players operating in the flame detector market are Johnson Controls (Ireland), United Technologies (US), Honeywell (US), Siemens (Germany) and Halma (UK).
The key factors driving the growth of the flame detector market are policies, regulations, and government initiatives, rising adoption of wireless technology in flame detection systems, and increasing human and property loss due to fire breakouts.
Market for single UV to account for largest market share during forecast period
The single UV segment is expected to continue to hold the largest market size during the forecast period. The growth of this segment can be attributed to the demand for flame detectors in oil & gas, chemicals, and energy & power industries. These detectors are best suited for locations in which hydrogen and hydrocarbon gases are used.
Single UV detectors are mainly used for indoor applications across various industries especially in oil & gas, transportation, manufacturing, mining, and energy & power utilities, where there are huge potential and use of indoor flame detectors. Following the pandemic of COVID-19, the market for flame detectors is expected to face a flat to decreasing growth curve in 2020 and 2021. Since fire protection systems are considered under essential businesses, the market for flame detectors is expected to be back on the growth curve from 2021.
Oil & gas industry to hold largest size during forecast period
The oil & gas industry is expected to hold the largest market size during the forecast period. In the oil & gas industry, the deployment of flammable and combustible materials is carried out, which includes petroleum, crude oil, flammable gases (such as butane), coal, and many others; these are combustible and thereby, to avoid fire, advanced flame detector systems are installed.
However, following the COVID-19 pandemic, the oil & gas industry has faced a major setback. The oil prices have reached an all-time low, and the companies involved in the industry have faced heavy losses. The decreased consumption of fuel has drastically reduced the demand for oil and gas.
North America is expected to capture largest market size during forecast period
The North American region is expected to hold the largest share of the flame detector market during the forecast period. The US and Canada are expected to be the largest consumers of flame detectors in North America. The increasing demand in the pharmaceutical industry in this region owing to the recent COVID-19 pandemic is expected to result in the large market share of flame detectors in the region.
The current pandemic has severely affected almost every industry across the world. Disrupted supply chain, reduced demand from local and global markets, and increased concerns regarding healthcare are a few of the challenges faced by almost every country in the world. The market for flame detectors in North America is estimated to experience a downward growth rate from 2019 to 2020 and exhibit a slightly positive growth rate from 2020 to 2021.
Research Coverage
The research report on the global flame detector market covers the market based on product, industry, and region. Based on product, the market has been segmented into single UV, single IR, Dual UV/IR, triple IR, and multi IR. Based on industry, the flame detector market has been segmented into oil & gas, energy & power, chemicals, aerospace & defense, logistics, mining, automotive, pharmaceuticals, marine, and other industries. The report covers four major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Major players operating in the flame detector market include Halma (UK), Honeywell (US), Johnson Controls (Ireland), Siemens (Germany), United Technologies (US), Emerson Electric (US), Hochiki (Japan), MSA (US), Robert Bosch (Germany), Micropack Engineering (Scotland), Minimax Viking (Germany), Spectrex (US), Ciquirix (UK), Electro Optical Components (US), Fike Corporation (US), Fire & Gas Detection Technologies (US), Optris Infrared Sensing (US), Rezontech (South Korea), Sense-WARE (US), Teledyne Technologies (US), Trace Automation (India), and VFP Fire Systems (US).
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Realistic Scenario
3.2 Pessimistic Scenario
3.3 Optimistic Scenario
4 Premium Insights
4.1 Attractive Opportunities in Flame Detector Market
4.2 Flame Detector Market, by Product
4.3 Flame Detector Market, by Industry and Region
4.4 Flame Detector Market, by Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Policies, Regulations, and Government Initiatives
5.2.1.2 Rising Adoption of Wireless Technology in Flame Detection Systems
5.2.1.3 Increasing Human and Property Loss Due to Fire Breakouts
5.2.2 Restraints
5.2.2.1 Sluggishness in Oil & Gas and Automotive Industries Owing to COVID-19
5.2.2.2 High Initial Costs
5.2.2.3 Concerns Related to False Alarms and Detection Failure
5.2.3 Opportunities
5.2.3.1 Integration of Flame Detectors with IoT and Big Data
5.2.3.2 Periodic Revision of Regulatory Compliances
5.2.4 Challenges
5.2.4.1 Integration of User Interfaces With Fire Detection Solutions
5.3 Value Chain Analysis
5.4 Emerging Trends in Flame Detection
5.5 Flame Detectors Used for Operations
5.5.1 Ionization Current Flame Detectors
5.5.2 Thermocouple Flame Detectors
6 Flame Detector Market, by Product
6.1 Introduction
6.2 Optical Flame Detection Technology
6.3 Visual Flame Detection Technology
7 Flame Detector Market, by Connectivity
7.1 Introduction
7.2 Wired Flame Detectors
7.3 Wireless Flame Detectors
8 Services Related to Implementation of Flame Detectors
8.1 Introduction
8.2 Engineering Services
8.3 Installation and Design Services
8.4 Maintenance Services
8.5 Inspection and Managed Services
9 Flame Detector Market, by Industry
9.1 Introduction
9.2 Oil & Gas
9.3 Energy & Power
9.4 Chemicals
9.5 Aerospace & Defense
9.6 Logistics
9.7 Mining
9.8 Automotive
9.9 Pharmaceuticals
9.10 Marine
9.11 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 APAC
10.5 RoW
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis for Flame Detector Market
11.3 Competitive Leadership Mapping
11.3.1 Visionaries
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Situations & Trends
11.4.1 Product Launches
11.4.2 Acquisitions
11.4.3 Collaborations
11.4.4 Expansions
12 Company Profiles
12.1 Key Players
12.1.1 Halma
12.1.2 Honeywell
12.1.3 Johnson Controls
12.1.4 Siemens
12.1.5 United Technologies
12.1.6 Emerson Electric
12.1.7 Hochiki
12.1.8 MSA
12.1.9 Robert Bosch
12.1.10 Micropack Engineering
12.1.11 Minimax Viking
12.1.12 Spectrex
12.2 Right-to-Win
12.3 Other Key Players
12.3.1 Ciqurix
12.3.2 Electro Optical Components
12.3.3 Fike Corporation
12.3.4 Fire & Gas Detection Technologies
12.3.5 Optris Infrared Sensing
12.3.6 Rezontech
12.3.7 Sense-Ware
12.3.8 Teledyne Technologies
12.3.9 Trace Automation
12.3.10 VFP Fire Systems
For more information about this report visit https://www.researchandmarkets.com/r/g2rdqh
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN) today announced the completion of its previously announced underwritten public offering of 63,250,000 shares of its common stock at a price of $2.50 per share, following the exercise in full of the underwriters’ option to purchase an additional 8,250,000 shares, with net proceeds from the offering to the company totaling approximately $152 million after underwriting discounts and offering expenses.
Southwestern Energy intends to use the net proceeds from the offering to partially redeem Montage Resource Corporation’s (“Montage”) issued and outstanding senior notes that Southwestern Energy will assume upon the closing of its recently announced merger with Montage (the “Merger”). If the Merger is not consummated, Southwestern Energy intends to use the net proceeds for general corporate purposes, including the repayment of debt.
Citigroup, Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers for the offering. BofA Securities, BMO Capital Markets, RBC Capital Markets and Wells Fargo Securities are also serving as joint book-running managers for the offering.
The offering was made under an effective automatic shelf registration statement on Form S-3 (Registration No. 333-238633) filed by Southwestern Energy with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying base prospectus. Prospective investors should read the prospectus supplement and the accompanying base prospectus included in the registration statement and other documents Southwestern Energy has filed with the SEC for more complete information about Southwestern Energy and the offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, a copy of the prospectus supplement and accompanying base prospectus relating to these securities may be obtained, when available, from:
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 800-831-9146
Goldman Sachs & Co. LLC
Attention: Prospectus Department
200 West Street
New York, NY 10282
Telephone: 866-471-2526
Facsimile: 212-902-9316
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
Attention: Prospectus Department
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 866-803-9204
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas, natural gas liquids and oil exploration, development, production and marketing.
Forward Looking Statements
This news release contains forward-looking statements. Forward-looking statements relate to future events, including, but not limited to, anticipated results of operations, business strategies, other aspects of Southwestern Energy’s operations or operating results, the proposed offering, the use of proceeds of the offering and the consummation of the Merger. In many cases you can identify forward-looking statements by terminology such as words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “predict,” “budget,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “continue,” “project,” “projection,” “goal,” “model,” “target,” “potential,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “are likely” and other similar expressions. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; impact of reduced demand for our products and products made from them due to governmental and societal actions taken in response to the COVID-19 pandemic; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions, including the impact of COVID-19; as well as changes in tax, environmental and other laws applicable to the company’s business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting the company’s business generally as set forth in the company’s filings with the SEC. Unless legally required, Southwestern Energy Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Bernadette Butler
Investor Relations Advisor
(832) 796-6079
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN) today announced that it is commencing, subject to market conditions, a registered underwritten public offering (the “Offering”) of $350 million aggregate principal amount of senior notes due 2028 (the “Notes”).
Southwestern Energy intends to use the net proceeds from the Offering, together with the net proceeds received from its recent common stock offering and borrowings under its credit agreement, to fund a redemption of Montage Resource Corporation’s (“Montage”) issued and outstanding Senior Notes (the “Montage Notes”) that it will assume upon the closing of its recently announced merger with Montage (the “Merger”).
Citigroup, BofA Securities and Wells Fargo Securities are acting as representatives of the underwriters and joint book-running managers for the Offering. The Offering is being made under an effective automatic shelf registration statement on Form S-3, as amended (Registration No. 333- 333-238633), filed by Southwestern Energy with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement has been filed with the SEC to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus included in the registration statement and other documents Southwestern Energy has filed with the SEC for more complete information about Southwestern Energy and the Offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, a copy of the base prospectus and the preliminary prospectus supplement may be obtained, when available, from:
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 800-831-9146
BofA Securities
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte NC 28255-0001
Attention: Prospectus Department
Telephone: 1‐800‐294‐1322
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Wells Fargo Securities
550 S. Tryon Street, 5th Floor
Charlotte, NC 28202
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Fax: (704) 410-4874 (with such fax to be confirmed by telephone to (704) 410-4885)
Attention: Leveraged Syndicate
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities or the Montage Notes, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas, natural gas liquids and oil exploration, development, production and marketing.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements relate to future events, including, but not limited to, anticipated results of operations, business strategies, other aspects of Southwestern Energy’s operations or operating results, the proposed offering, the use of proceeds of the offering and the consummation of the Merger. In many cases you can identify forward-looking statements by terminology such as the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “predict,” “budget,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “continue,” “project,” “projection,” “goal,” “model,” “target,” “potential,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “are likely” and other similar expressions. Where, in any forward-looking statement, Southwestern Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; impact of reduced demand for our products and products made from them due to governmental and societal actions taken in response to the COVID-19 pandemic; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions, including the impact of COVID-19; as well as changes in tax, environmental and other laws applicable to Southwestern Energy’s business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting Southwestern Energy’s business generally as set forth in Southwestern Energy’s filings with the SEC. Unless legally required, Southwestern Energy Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
This email address is being protected from spambots. You need JavaScript enabled to view it.
Bernadette Butler
Investor Relations Advisor
(832) 796-6079
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VISTA, Calif.--(BUSINESS WIRE)--$FLUX #NASDAQ--Flux Power Holdings, Inc. (“Flux Power”) (NASDAQ CM: FLUX), a developer of advanced lithium industrial batteries for commercial and industrial equipment, today announced the closing of an underwritten public offering of 3,099,250 shares of common stock priced at $4.00 per share for gross proceeds of approximately $12.4 million, which includes the full exercise of the underwriters’ over-allotment option to purchase additional shares, prior to deducting the underwriting discount and offering expenses payable by Flux Power.
Flux Power intends to use the net proceeds of the offering for working capital and general corporate purposes.
Roth Capital Partners and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ CM: NHLD), acted as the joint book-running managers for the offering.
The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-231766), which was declared effective by the United States Securities and Exchange Commission on August 12, 2020.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the final prospectus will be filed with the SEC and, when available, electronic copies of the final prospectus may be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, by at (800) 678-9147, or by accessing the SEC’s website, www.sec.gov.
About Flux Power Holdings, Inc. (www.fluxpower.com)
Flux Power designs, develops, manufactures, and sells advanced rechargeable lithium-ion energy storage solutions for lift trucks and other industrial equipment including airport ground support equipment (GSE), energy storage for solar applications, and industrial robotic applications. Flux Power’s LiFT Packs, including the proprietary battery management system (BMS), provide customers with a better performing, more environmentally friendly, and lower total cost alternative, in many instances, to traditional lead acid and propane-based solutions.
Flux, Flux Power and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
Follow us at:
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Flux Power Media & Investor Relations:
Justin Forbes
877-505-3589
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H.E. Dr. Sultan Ahmed Al Jaber, Group CEO, ADNOC and Minister of Industry and Advanced Technology in the UAE and Group CEO, ADNOC, speaks with IHS Markit Vice Chairman Daniel Yergin for the latest CERAWeek Conversations – available at www.ceraweek.com/conversations and via podcast on Apple, Google Play, Soundcloud, Spotify and Stitcher
WASHINGTON, D.C.--(BUSINESS WIRE)--Abu Dhabi National Oil Company (ADNOC) Group CEO and UAE Minister of Industry and Advanced Technology H.E. Dr. Sultan Ahmed Al Jaber sees a “robust return of oil demand” but advises that industry must remain “cautiously optimistic” as it adjusts to “multiple structural macroeconomic changes” around the world in the latest edition of CERAWeek Conversations.
In a conversation with IHS Markit (NYSE: INFO) Vice Chairman Daniel Yergin, Al Jaber discusses current energy market dynamics; initiatives to grow valued-added domestic industries—including a recent $20 billion-plus mega-infrastructure deal; priorities to advance next-generation AI, IoT, and machine learning technologies; the widespread adoption of renewables in the UAE; the country’s competitive position in the energy transition as a low cost, low carbon producer and more.
The complete video is available at: www.ceraweek.com/conversations
CERAWeek Conversations is now also available via podcast on Apple, Google Play, Soundcloud, Spotify and Stitcher
Selected excerpts:
Interview Recorded Tuesday, August 11, 2020
(Edited slightly for brevity only)
Watch the complete video at: www.ceraweek.com/conversations
“We have started realizing the benefits and the upside of the transformation we started about four years ago. We have concentrated our efforts on improving our performance, strengthening our agility, while of course ensuring that we reinforce efficiency throughout the value chain of our business.
“Throughout this whole exercise we focused on what we can control, which is simply our costs. We don’t control anything beyond our boundaries of our business like the price of oil, so our focus throughout has been on cost. As a result, we have been able to manage the situation, maneuver throughout the different dynamics of the market, and remain resilient through this downturn while also delivering against our strategic objectives and priorities.”
“One of the reasons we have come through this period in relatively good shape is our well-founded and our well-established focus on what we call at ADNOC the “100% HSE” (health, safety and environment). This safety-first approach is in fact very much in line with the UAE’s overall response to the pandemic. What we have done is deployed a test early and test often approach to managing the pandemic.
“The UAE has so far has carried out more than 5.5 million COVID tests. That is easily the highest per capita ratio in the world. At ADNOC, we have taken extra precautions to enhance the safety of our employees and our colleagues, and that included the comprehensive testing and minimizing staff on-site. We did not allow for any disruptions to our operations and that is due to the very strong, well-founded HSE culture across our operations.”
“The fact is that no one is in a position to predict what the shape of economic recovery will look like in the long-term. There are multiple variables. On the positive side, the market has clearly tightened in the last two months. This happened because of the fact that economies have begun to reopen. The approach of OPEC and its leadership also helped build confidence in the markets. And as a result, we are seeing a robust return of oil demand. This is mainly coming from China. Having said that, our industry will have to remain cautious and nimble. They will need to continue their focus on cost and being cautiously optimistic as we adjust to the multiple structural macroeconomic changes taking place around us today in the world.”
“In simple terms, our investment strategy remains the same. It continues to focus on unlocking value. Looking at every opportunity across the value chain, making smarter use of our capital and more proactively managing our assets.
“This past June we completed a $20.07 billion energy infrastructure investment deal. That transaction, which is going to be the largest of 2020. Just last week we created a shipping joint venture with China’s Wanhua chemicals, with the purpose of having this new JV act as our vehicle to transport LPG to growth markets.
“We see some of the biggest opportunities right here at home presented by ADNOC where we are making smart investments to expand our operations, especially in the downstream and the refining and petrochemical business as well as derivatives, and this is mainly to drive the UAE’s industrial growth and to increase the in-country value. The prime example of this is our recently formed and announced joint venture with one of our largest Abu Dhabi holding companies ADQ.
“The opportunity here is just huge. We are providing a unique value proposition whereby we capitalize on our existing world class infrastructure, high-quality competitive feedstock and of course our excellent geographic location to drive sustainable growth. This is an open invitation from ADNOC, from the UAE, to the investment community to come and engage with us in an open dialogue and to identify new investment opportunities in the downstream business of oil and gas. We will soon be sharing with the investment community a number of investment opportunities in the downstream area.”
“This new ministry was established to help support our national agenda to diversify the economy by empowering and enabling industrial growth and value retention. It will focus on industries of strategic importance to our national economy and our national agenda with the aim to promote in-country value while helping create new jobs as well as export-driven companies that will help drive industrial development.
“At the core of our mandate in this ministry is the Fourth Industrial Revolution—specifically the synergies between industry and technology, including machine learning, the Internet of Things, automation, and digitization. Similar to ADNOC, this new ministry will extend an open invitation to all those around the world that want to explore partnership opportunities with the UAE and its different institutions. The strategic objectives of this new ministry represent a natural extension of the work we’ve been carrying out at ADNOC over the past four years. We have been enabling the industrial development of the UAE by going further downstream and prioritizing in-country value across all of our procurement and new contracts as well as all of our new projects while we have been adopting new, very advanced technologies and digitizing our value chain.
“The new ministry will help bridge the gap between the energy, manufacturing, and high-tech sectors to accelerate the comprehensive economic development and the efforts of diversifying the UAE economy.”
“Today we are in an era where breakthrough technologies from artificial intelligence, blockchain, big data, and predictive analytics are delivering fast and unprecedented progress for humanity. We have seen through this entire COVID experience that the digital economy has become central. Some new technologies have been introduced only in the past six months that have helped reshape how economies are structured. The UAE not only understands the critical impact of this transition but is in fact directing investment in that space. We have created the world’s first AI-dedicated institute here in Abu Dhabi, The Mohamed bin Zayid University of Artificial Intelligence which will enroll its first intake of students this coming January. There is significant potential for AI-inspired technology to help push the frontiers of progress across multiple sectors, particularly in the oil and gas industry.
“At ADNOC, we are embedding the latest technologies across our value chain of our business that have helped already enhance efficiency, maximize our performance and help enhance our profitability across the business. We are also using predictive analytics to help reduce our maintenance costs. And big data is accelerating our decision-making process in such volatile market conditions.
“We are very excited about the potential of CCUS (carbon capture, utilization and storage) to help reduce carbon emissions. We already capture 800,000 tons of carbon for enhanced oil recovery and we do have real plans to expand our CCUS network and capacity to five million tons per year. This will be fundamental in ensuring that we are one of the most carbon efficient oil and gas companies in the world.”
“We have been a long-standing supporter of a diversified energy mix. We believe it makes perfect economic sense to invest in all forms of energy. We were the region’s first mover in promoting, adopting, and investing an advanced energy, like renewable energy and clean technologies. We are already home to two of the world’s largest solar projects: Noor Abu Dhabi and the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. Very recently we just announced plans to create the world’s largest solar project here in Abu Dhabi—a two-gigawatt facility that will help double the capacity of our two previously largest projects.
“In total, we have launched renewable energy projects totaling almost 13 gigawatts in the UAE and across 25 countries around the world. Just last month, the UAE became the first Middle Eastern, first Arab country to begin operations for a nuclear power plant. Later this year the Barakah nuclear power plant will begin delivering safe, commercial, zero-carbon energy to homes throughout the United Arab Emirates. That is a big achievement that we are very proud of.
“Solar energy has been around for a very long time. What has been really missing over the years was capital and ability to scale-up the technology to help increase its efficiency and reduce its cost. That’s exactly what happened. By applying large capital and large-scale projects you were able to advance the technology and bring the costs down. We are a partner to many companies around the world whereby we engage with them in some research and development projects as well as investing in some of the technologies that have helped reduce the costs and enhance the efficiency of such solar parks.”
“We have to come to terms with the realities on the ground. It is clear that no single source of energy can meet long-term global energy demand. Even in the most fast-paced transition scenarios, oil and gas will still provide over half of the world’s energy. This presents us with the key challenge of how to produce more energy with fewer emissions.
“This challenge plays to one of ADNOC’s strategic advantages, because we are not only one of the lowest-cost producers, but among the lowest carbon producers in the oil and gas industry. This combination of low-cost and low carbon gives us in the UAE a distinct competitive edge. Our goal is to remain best-in-class in sustainability and maintain our position among the world’s lowest carbon emitters. The world is going to need oil and gas for some considerable time to come. It is up to us as oil and gas producers to deliver that energy as responsibly and as sustainably as possible.”
About CERAWeek Conversations:
CERAWeek Conversations features original interviews and discussion with energy industry leaders, government officials and policymakers, leaders from the technology, financial and industrial communities—and energy technology innovators.
The series is produced by the team responsible for the world’s preeminent energy conference, CERAWeek by IHS Markit.
New installments will be added weekly at www.ceraweek.com/conversations.
Recent segments also include:
A complete video library is available at www.ceraweek.com/conversations.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.
Jeff Marn
IHS Markit
+1 202 463 8213
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Press Team
+1 303 858 6417
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN) today announced the pricing of its public offering (the “Offering”) of $350 million aggregate principal amount of 8.375% senior notes due 2028 (the “Notes”). The Notes will be sold to the public at a price of 100% of their face value. The expected settlement date for the Offering is August 27, 2020, subject to the satisfaction of customary closing conditions.
Southwestern Energy expects to receive net proceeds from the Offering of approximately $345 million after deducting underwriting discounts and estimated offering expenses. Southwestern Energy intends to use the net proceeds from the Offering, together with the net proceeds received from its recent common stock offering and borrowings under its credit agreement, to fund a redemption of Montage Resource Corporation’s (“Montage”) issued and outstanding Senior Notes (the “Montage Notes”) that it will assume upon the closing of its recently announced merger with Montage (the “Merger”).
Citigroup, BofA Securities and Wells Fargo Securities are acting as representatives of the underwriters and joint book-running managers for the Offering. The Offering is being made under an effective automatic shelf registration statement on Form S-3, as amended (Registration No. 333-238633), filed by Southwestern Energy with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement has been filed with the SEC to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the accompanying base prospectus included in the registration statement and other documents Southwestern Energy has filed with the SEC for more complete information about Southwestern Energy and the Offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, a copy of the base prospectus and the preliminary prospectus supplement may be obtained, when available, from:
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 800-831-9146
BofA Securities
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte NC 28255-0001
Attention: Prospectus Department
Telephone: 1‐800‐294‐1322
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Wells Fargo Securities
550 S. Tryon Street, 5th Floor
Charlotte, NC 28202
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Fax: (704) 410-4874 (with such fax to be confirmed by telephone to (704) 410-4885)
Attention: Leveraged Syndicate
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities or the Montage Notes, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas, natural gas liquids and oil exploration, development, production and marketing.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements relate to future events, including, but not limited to, anticipated results of operations, business strategies, other aspects of Southwestern Energy’s operations or operating results, the proposed offering, the use of proceeds of the offering and the consummation of the Merger. In many cases you can identify forward-looking statements by terminology such as the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “predict,” “budget,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “continue,” “project,” “projection,” “goal,” “model,” “target,” “potential,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “are likely” and other similar expressions. Where, in any forward-looking statement, Southwestern Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; impact of reduced demand for our products and products made from them due to governmental and societal actions taken in response to the COVID-19 pandemic; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions, including the impact of COVID-19; as well as changes in tax, environmental and other laws applicable to Southwestern Energy’s business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting Southwestern Energy’s business generally as set forth in Southwestern Energy’s filings with the SEC. Unless legally required, Southwestern Energy Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Bernadette Butler
Investor Relations Advisor
(832) 796-6079
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The joint effort unites energy systems research with industry experience to lay out an economically viable transition to decarbonized utility power
PRINCETON, N.J.--(BUSINESS WIRE)--Community Energy and Princeton University’s Andlinger Center for Energy and the Environment announce today a joint academic-industry research partnership to study the U.S. energy transition and identify an optimal buildout plan for scaling carbon-free power over the next decade to meet climate challenges.
The research team will develop a technical blueprint for rapid and affordable emissions reductions to the grid while securing reliable electricity supply. The work will focus first on the PJM system, the grid that controls electricity flows for all or part of 13 states, including Pennsylvania, New Jersey, and Maryland.
“We are thrilled to partner with Community Energy and investigate questions that the industry faces on the national energy transition. The partnership exemplifies how the Andlinger Center translates new knowledge to be useful for practitioners,” said Barry Rand, associate director for external partnerships at the Andlinger Center. “The company’s perspective will bolster our efforts to provide meaningful insights on how the grid could become low-carbon and which technologies we need to scale to get there,” said Rand, who is also an associate professor of electrical engineering and the Andlinger Center for Energy and the Environment.
The research will be led by Jesse Jenkins who runs Princeton’s Zero Carbon Energy Systems Research and Optimization (ZERO) Laboratory, in collaboration with the Andlinger Center’s Energy Systems Analysis Group. Jenkins is an assistant professor of mechanical and aerospace engineering and the Andlinger Center for Energy and the Environment at Princeton.
“Community Energy will be a good partner because they know the important tradeoffs and practical challenges in renewable energy development,” said Jenkins. “Knowledge of land use, development constraints and synergies with agriculture and farmland preservation will help our research team develop computer models of the grid that are more realistic and achievable in the near term.”
Community Energy will be the first renewable energy company to work with the center through Princeton E-ffiliates Partnership, the corporate membership program of the Andlinger Center. The partnership represents the first research collaboration with a university for Community Energy.
“A whole new solid-state grid needs to be built, and Princeton’s Andlinger Center is unique in its ability to combine fundamental scientific research and practical outcomes in a realistic plan to do that,” said Brent Alderfer, CEO and co-founder of Community Energy. “We are really pleased to be partnering with Princeton’s deep academic arsenal to develop a smart industry investment plan to meet the climate change challenge in the next 10 years.”
The second phase of work with Princeton will assess and identify key policies that will be important to incent the necessary power resources.
“Cross-sector partnerships like these are crucial to accelerate development of clean energy projects at the scale necessary to effectively address the climate crisis,” Alderfer said.
About the Andlinger Center for Energy and the Environment at Princeton University
The mission of the Andlinger Center for Energy and the Environment is to develop solutions to ensure our energy and environmental future. To this end, the center supports a vibrant and expanding program of research, teaching, and stakeholder collaboration in the areas of sustainable energy technology and energy transitions. A chief goal of the center is to translate fundamental knowledge into practical solutions. Housed in Princeton University’s School of Engineering and Applied Science, the Andlinger Center actively convenes companies, government, peer institutions, and non-profit organizations to foster collaborative initiatives that help to overcome shared challenges to develop and deploy more sustainable systems. Princeton E-ffiliates Partnership (E-ffiliates) is the corporate membership program of Princeton University’s Andlinger Center for Energy and the Environment. E-ffiliates offers corporations a unique opportunity to engage in big-picture thinking and to find innovative solutions in energy and the environment. Follow the Andlinger Center on Twitter or Facebook (@AndlingerCenter) or visit www.acee.princeton.edu to keep up to date.
About Community Energy:
For more than twenty years, Community Energy, Inc. has partnered with utilities, Fortune 500 companies and local communities to develop over 1,700 MW and invest more than $3.5 Billion in solar and wind generation. As an early entrant in commercializing renewable energy, Community Energy leverages emerging technologies and resources to support decarbonization of our energy systems and promote fuel-free approaches. Headquartered in Radnor, Pennsylvania and with offices in Boulder, Colorado and Chapel Hill North Carolina, Community Energy has a strong presence in diverse geographical markets. For more information about Community Energy, please visit www.communityenergyinc.com.
Leo Traub
Antenna Group for Community Energy
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646-883-3562
Molly Seltzer
Andlinger Center for Energy and the Environment
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609-258-7177
PASADENA, Calif.--(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the U.S. Agency for International Development (USAID) awarded the Company a five-year, $29.7 million single-award contract for the continuation of its Scaling Up Renewable Energy project (SURE II).
Recent advancements in renewable energy technologies and business models have made solar and wind power viable options for emerging economies. Battery storage prices also have declined, providing opportunities to meet demand through innovative, market-driven options.
Tetra Tech worked with USAID and 20 partner countries under the previous SURE I contract to integrate new technologies, promote competitive procurement of renewable energy generation, support development of progressive energy policies, and advance gender equality in the energy sector.
Under SURE II, Tetra Tech will provide technical services to promote reliable, cost-effective, and environmentally responsible solutions to increase adoption of renewable and advanced energy technologies. Activities may include the creation of programs to integrate renewable energy into existing power grids, and enhancement of national strategic energy planning to capitalize on renewable technologies that increase energy security and reduce costs. Tetra Tech also will support the development of an innovation fund which will attract new and nontraditional partners to scale up the deployment of renewable energy technology.
“Tetra Tech is pleased to support USAID in developing sustainable renewable energy solutions for emerging economies,” said Dan Batrack, Tetra Tech Chairman and CEO. “As the top-ranked firm by Engineering News-Record in solar and wind power, Tetra Tech will use its Leading with Science® approach to help deploy the best technologies, policies and practices to transform the power sector in developing countries.”
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.
Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844
CARNEGIE, Pa.--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) (the “Corporation” or “Ampco-Pittsburgh”) announced today it has commenced the subscription period for its previously announced rights offering. The rights offering will remain open from Tuesday, August 18, 2020, until 5:00 PM Eastern Time on Wednesday, September 16, 2020, unless extended. Rights holders will need to exercise their subscription rights prior to Wednesday, September 16, 2020, at 5:00 PM Eastern Time to receive the Units in this rights offering.
If exercising subscription rights through a broker, dealer, custodian bank, or other nominee (including any mobile investment platform), then rights holders of record should deliver all required subscription documents and subscription payments pursuant to the instructions provided by their nominee.
If shares of common stock are held in the rights holder’s name, and subscription rights will not be exercised through a broker, dealer, custodian bank, or other nominee (including any mobile investment platform), then the subscription certificate, all other required subscription documents, and subscription payments should be sent by mail to Broadridge Corporate Issuer Solutions, Inc., the Subscription Agent, at the address below, to be received before 5:00 PM Eastern Time on September 16, 2020. Participants should refer to the instructions included with the subscription documents for complete information regarding completing and submitting the subscription documents.
By Mail: |
By Hand Delivery or Overnight Courier: |
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Broadridge Corporate Issuer Solutions, Inc. |
Broadridge Corporate Issuer Solutions, Inc. |
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Attn: BCIS re-Organization Dept. |
Attn: BCIS IWS |
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P.O. Box 1317 |
51 Mercedes Way |
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Brentwood, NY 11717-0718 |
Edgewood, NY 11717 |
For additional information on the rights offering, please reference the prospectus included in the Corporation’s registration statement on Form S-1 and related amendments, which can be viewed at https://www.sec.gov/edgar/searchedgar/companysearch.html.
The rights offering will allow Ampco-Pittsburgh’s shareholders of record as of August 17, 2020, to purchase up to 12,800,795 units. Units consist of common stock (the “Common Shares”) and Series A warrants to purchase Common Shares, which expire on August 1, 2025. The subscription price for units entitling participants in the rights offering to a whole Common Share and to receive a Series A warrant to purchase a whole Common Share has been set at $3.50, representing a 17% premium to the closing price for a Common Share on the New York Stock Exchange on August 12, 2020. In addition, the exercise price for Series A warrants to purchase a whole Common Share has been set at $5.75 per share. The units and Series A warrants will be exercisable only for whole Common Shares.
The rights offering includes an over-subscription privilege, entitling each rights holder that exercises all its basic subscription privileges in full the right to purchase additional units that remain unsubscribed at the expiration of the rights offering. Both the basic and over-subscription privileges are subject to availability and a pro-rata allocation of shares among participants. All basic subscription rights and over-subscription privileges may be exercised during the subscription period of Tuesday, August 18, 2020, through 5:00 PM ET, Wednesday, September 16, 2020.
A copy of the prospectus and related materials are being sent to holders of record on August 17, 2020. Additionally, a copy of the prospectus may be requested from, and questions relating to the rights offering may be directed to, the information agent for the rights offering, as follows:
Rights Offering Information Agent
D.F. King & Co., Inc.
48 Wall Street, 22nd Floor
New York, NY 10005
Telephone at (212) 269-5550 (bankers and brokers) or (800) 290-6432 (all others)
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Ampco-Pittsburgh has engaged Advisory Group Equity Services, Ltd. d/b/a RHK Capital to act as dealer-manager for the rights offering. Any broker-dealers interested in participating in the rights offering may contact This email address is being protected from spambots. You need JavaScript enabled to view it..
The Company’s registration statement on Form S-1 was declared effective by the U.S. Securities and Exchange Commission on August 13, 2020. The prospectus relating to and describing the terms of the rights offering has been filed with the SEC on August 17, 2020, and is available on the SEC’s website at www.sec.gov. This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on behalf of the Corporation. The information contained in this press release may include, but are not limited to, statements about undertaking the rights offering described herein, operating performance, trends, events that the Corporation expects or anticipates will occur in the future, statements about sales and production levels, restructurings, the impact from global pandemics (including COVID-19), profitability and anticipated expenses and cash outflows. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Act and words such as “may,” “intend,” “believe,” “expect,” “anticipate,” “estimate,” “project,” “forecast” and other terms of similar meaning that indicate future events and trends are also generally intended to identify forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made, are not guarantees of future performance or expectations and involve risks and uncertainties. For the Corporation, these risks and uncertainties include, but are not limited to: cyclical demand for products and economic downturns; excess global capacity in the steel industry; increases in commodity prices or shortages of key production materials; consequences of global pandemics (including COVID-19); new trade restrictions and regulatory burdens associated with “Brexit”; inability of the Corporation to successfully restructure its operations; limitations in availability of capital to fund the Corporation’s operations and strategic plan; inability to satisfy the continued listing requirements of the New York Stock Exchange; potential attacks on information technology infrastructure and other cyber-based business disruptions; and those discussed more fully in documents filed with the SEC by the Corporation, particularly in Item 1A, Risk Factors, in Part I of the Corporation’s latest annual report on Form 10-K, and Part II of the Corporation’s Form 10-Q for the quarter ended June 30, 2020. The Corporation cannot guarantee any future results, levels of activity, performance or achievements. In addition, there may be events in the future that the Corporation may not be able to predict accurately or control which may cause actual results to differ materially from expectations expressed or implied by forward-looking statements. Except as required by applicable law, the Corporation assumes no obligation, and disclaims any obligation, to update forward-looking statements whether as a result of new information, events or otherwise.
Michael G. McAuley
Senior Vice President, Chief Financial Officer and Treasurer
(412) 429-2472
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California Grid Operator Confirms State’s Energy Supply Expected to Meet Demand Tonight as Heatwave Continues
PG&E Thanks Customers Big and Small for Coming Together to Conserve Power
Customers Strongly Urged to Continue Conserving through Thursday Night
SAN FRANCISCO--(BUSINESS WIRE)--Based on forecasts for electricity supply and demand, the state’s electric grid operator, the California Independent System Operator (CAISO), has communicated to Pacific Gas and Electric Company (PG&E) that the utility will not need to employ rotating power outages on Tuesday.
PG&E has been on standby throughout the day and for the duration of this heatwave, which began Friday (Aug. 14). The company has opened its Emergency Operations Center to prepare to initiate potential rotating outages at the request of the CAISO. PG&E teams will continue to coordinate with the CAISO as the heatwave extends through Thursday. The CAISO oversees the larger power grid and balances energy demand with supply.
Thanks to the conservation efforts of California residents, the CAISO was able to call off potential rotating outages Sunday, Monday and Tuesday.
Electricity Conservation Is Key Through Thursday
PG&E customers—including homeowners, small and medium businesses, large industrial businesses and agriculture businesses—have all come together to conserve electricity and help avoid the need for rotating outages.
With the heatwave expected to continue at least through Thursday night, PG&E strongly encourages all customers to continue conserving to reduce overall power demand.
“Since Friday, our state has been gripped by one of its most extreme heat events in recent years. We have strongly encouraged our customers to conserve energy to reduce strain on California’s electric grid, and they have delivered. We are tremendously grateful for their efforts to help avoid rotating outages. We urge our customers to keep up the conservation through Thursday. Thank you for your support and patience as we get through this heatwave together,” said Laurie Giammona, Senior Vice President and Chief Customer Officer for PG&E.
PG&E Tips to Save Energy and Reduce Usage
PG&E Tips to Stay Safe and Cool
Rotating outages directed by the CAISO are not Public Safety Power Shutoffs, which are called by PG&E during specific high fire threat conditions, and they are not related to any issues with PG&E’s equipment or its ability to deliver energy locally.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news
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St. Croix will be the second Tropical Shipping location to sign with Octopi this year
OAKLAND, Calif.--(BUSINESS WIRE)--Octopi, part of Navis and Cargotec Corporation, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced today that Tropical Shipping has signed a subscription agreement for Octopi by Navis at its St. Croix location. This agreement comes on the heels of the Tropical St. Thomas go-live, making St. Croix the second Tropical Shipping terminal that has signed with Octopi this year.
As a hub for transporting goods throughout the Caribbean, Tropical St. Croix handles a mix of cargo and operates at 76,000 TEU annually. Since its inception, Tropical St. Croix was tracking all container movement and operations at the terminal manually and wanted to invest in technology to make its location more modern and efficient for its customers. The terminal needed a TOS that was nimble and able to provide more data visibility to its stakeholders without requiring any additional IT investment, so it selected Octopi’s cloud-based TOS to enhance its operations.
“Octopi will allow St. Croix to upgrade to an automated, cloud-based TOS with little effort and will offer us the tools to drive operational efficiency, increased visibility and data transfer through its user-friendly interface,” said Doug Vogt, VP Operations and Equipment at Tropical Shipping. “Since we will be eliminating manual entry, we will be able to utilize that time to look for other opportunities to better service our customers at our terminal.”
“In these unpredictable times, we are glad that we can provide a solution via remote assistance to help our customers achieve higher productivity and operational visibility goals,” said Martin Bardi, Vice President of Global Sales, Octopi by Navis. “After experiencing a successful remote go-live at their St. Thomas location, Tropical Shipping signed with Octopi at their St. Croix terminal because of the seamless transition to the TOS and the immediate results they had seen after implementation. Tropical Shipping has been a great partner to work with and we look forward to continuing and potentially expanding our relationship with them in the future.”
For more information visit www.navis.com and www.octopi.co.
About Octopi
Octopi is the leading developer of cloud based software solutions for port terminal operators. The Octopi Terminal Operating System (TOS) helps seaport terminal operators manage their operations, track their cargo, and communicate electronically and in real-time with their commercial partners. The Octopi TOS provides small terminal operators the agility and adaptability required to modernize and efficiently run their operational ecosystem. www.octopi.co
About Navis, LLC
Navis, a part of Cargotec Corporation, is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps streamline operations. www.navis.com
About Cargotec Corporation
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimize global cargo flows and create sustainable customer value. Cargotec's sales in 2019 totaled approximately EUR 3.7 billion and it employs around 12,000 people. www.cargotec.com
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Geena Pickering
Affect
T+1 212 398 9680
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With the right set of controls technologies, microgrids not only offer value streams to site hosts and other microgrid customers but provide value upstream to the larger grid
BOULDER, Colo.--(BUSINESS WIRE)--#Biomass--A new report from Guidehouse Insights examines distributed energy resources (DER) assets as the driving force behind microgrid deployments, providing capacity and revenue forecasts for nine technologies from 2020 through 2029.
As one of many options to aggregate and optimize DER, the microgrid platform allows for new levels of resilience and reliability, which is particularly valuable in light of emerging threats to global power grids, such as extreme weather events, earthquakes, wildfires, and terrorist threats. At the same time, microgrids can help organize mixed asset fleets of DER at the distribution network level. Click to tweet: According to a new report from @WeAreGHInsights, total DER in microgrids revenue begins at $6.3 billion in 2020, reaching $27.7 billion annually by 2029, at a compound annual growth rate (CAGR) of 18%.
“With the right set of controls technologies, the microgrid platform can not only offer value streams to site hosts and other microgrid customers, but it also provides value upstream to the larger grid,” says Peter Asmus, research director with Guidehouse Insights. “It is in this latter function that microgrids overlap with other networking platforms such as virtual power plants (VPPs) and DER management systems.”
According to the report, the availability of government support for microgrids is affected by the design of incentives and subsidies for the gamut of available DER technologies that could be integrated into a microgrid. Support for DER assets will increase the viability of microgrids in any particular region. However, some forms of support can counterintuitively limit future microgrid applications, and in some cases, a decline in subsidy support, particularly for renewable generation technologies, can create incentives for microgrids.
The report, DER Deployments for Microgrids, focuses on how each of the following nine DER assets are being deployed across each region of the world: biomass, diesel generation sets (gensets), energy storage, fuel cells, hydropower, microturbines, natural gas gensets, solar PV, and wind. This report provides capacity and revenue forecasts for these technologies from 2020 through 2029. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, DER Deployments for Microgrids, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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Itron’s IoT Wastewater Monitoring Solution Honored for Exceptional Innovation
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#AvantiCompany--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, received a 2020 IoT Evolution Product of the Year Award from IoT Evolution World, the leading website covering IoT technologies. The award recognizes the cutting-edge IoT-based solution that Itron, Utility Systems Science & Software (US3) and the Avanti Company created together through the Itron Developer Program.
The wastewater monitoring solution utilizes Itron’s multi-purpose industrial IoT network and connected wastewater sensors to identify conditions that cause sanitary sewer overflows. Taking advantage of real-time data from US3’s wastewater flow sensors and Itron’s expertise in delivering outcome-based IoT solutions for critical infrastructure operators, the innovative solution enables utilities to prevent sewer overflows, improve water quality, protect local ecosystems and ensure public safety.
To mitigate regulatory issues and prevent sanitary sewer overflows, Miami-Dade County Water & Sewer Department (WASD) recently deployed the solution. In addition to helping the utility mitigate sewer overflows, the solution delivers significant operational efficiencies and reduces greenhouse gas emissions. The solution automates the reporting process for regulatory compliance, reducing truck rolls required for field surveys by more than 60%.
Quotes
“It is an honor to be recognized by IoT Evolution for our wastewater and flood sensing solution, which was developed for Miami-Dade’s Flow Reduction Program. At Itron, we are proud to collaborate with innovative partners like US3 to deliver breakthrough solutions to create safe, smart and sustainable communities.”
- John Marcolini, senior vice president of Networked Solutions at Itron
“With enhanced visibility into our operations, this program equips us to better serve Miami-Dade Water and Sewer Department customers by ensuring our sewer collection system meets regulatory standards, improving level of service and in the future assisting in identification of sewer overflows and mitigation of Inflow and Infiltration into our Wastewater Collection System.”
- Kevin Lynskey, director of WASD
“Through Itron’s Developer Program, we collaborated to develop and implement an innovative monitoring solution that combines our instrumentation technology with Itron’s data analytics to ensure efficient water and wastewater management for Miami-Dade. This innovative solution is well-deserving of this award.”
- Mark Serres, vice president and chief technology officer of US3
“The solutions selected for the IoT Evolution Product of Year Award reflect the diverse range of innovation driving the multi-billion-dollar IoT market today. It is my honor to congratulate Itron for its innovative work and superior contribution to the rapidly evolving IoT industry.”
- Rich Tehrani, CEO of TMC, a co-publisher of IoT Evolution
“It is my pleasure to recognize Itron’s IoT wastewater and flood sensing solution, an innovative solution that earned the 2020 IoT Evolution Product of the Year Award. I look forward to seeing even more innovation from Itron in the future.”
- Ken Briodagh, Editorial Director for IoT Evolution World
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
About Crossfire Media
Crossfire Media is an integrated marketing company with a core focus on future trends in technology. We service communities of interest with conferences, tradeshows, webinars and newsletters. Crossfire Media has a partnership with Technology Marketing Corporation (TMC) to produce events and websites related to disruptive technologies. Crossfire Media is a division of Crossfire Consulting, a full service Information Technology company based in New York.
About TMC
Through education, industry news, live events and social influence, global buyers rely on TMC’s content-driven marketplaces to make purchase decisions and navigate markets. As a result, leading technology vendors turn to TMC for unparalleled branding, thought leadership and lead generation opportunities. Our in-person and online events deliver unmatched visibility and sales prospects for all participants.. Through our custom lead generation programs, we provide clients with an ongoing stream of leads that turn into sales opportunities and build databases. Additionally, we bolster brand reputations with the millions of impressions from display advertising on our news sites and newsletters. Making TMC a 360 degree marketing solution, we offer comprehensive event and road show management services and custom content creation with expertly ghost-crafted blogs, press releases, articles and marketing collateral to help with SEO, branding, and overall marketing efforts. For more information about TMC and to learn how we can help you reach your marketing goals, please visit www.tmcnet.com and follow us on Facebook, LinkedIn and Twitter, @tmcnet.
For more information about TMC and to learn how we can help you reach your marketing goals, please visit www.tmcnet.com.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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Software solution targets production excellence
Project includes Halliburton’s DecisionSpace® technology suite and Honeywell Forge enterprise performance management software
HOUSTON--(BUSINESS WIRE)--PTTEP, a national petroleum exploration and production company in Thailand, awarded Halliburton (NYSE: HAL) a contract to design and implement a series of digital transformation projects as part of PTTEP’s Advanced Production Excellence (APEX) Initiative. APEX will improve operational efficiency and production in four offshore fields: Arthit, Greater Bongkot South, Greater Bongkot North and the Myanmar Zawtika Field.
Landmark, a Halliburton business line, will deploy its DecisionSpace® Production Suite in the cloud to improve production operations from the subsurface to processing facilities. The DecisionSpace® Enterprise Platform will integrate with Honeywell Forge, a powerful analytics software solution providing real-time data and visual intelligence, so PTTEP can implement more productive and efficient work processes.
Using advanced physics-based and data science models, the solution includes modeling of surface and subsurface components to manage and optimize operations from the wells to the point of delivery. This includes short-term production planning and optimization, flow assurance monitoring and control, sand production monitoring and control, condensate stabilization optimization, CO2 membrane optimization, fuel gas optimization and processing facilities performance monitoring and analysis.
“We look forward to collaborating with Honeywell to support PTTEP on its digital transformation journey,” said Nagaraj Srinivasan, senior vice president of Landmark and Halliburton Digital Solutions. “Effectively leveraging and implementing digital technologies improves efficiency to increase production, reduce operating expenses and maximize the value of the operator’s portfolio.”
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
For Investors:
Abu Zeya
Investor Relations
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281-871-2688
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William Fitzgerald
External Affairs
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281-871-5267
Highlights:
LAFAYETTE, La.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) has received a contract from the U.S. Navy for the Medium Unmanned Surface Vehicle (MUSV) program. This is the Navy’s first program for an unmanned surface vehicle to support the Navy’s Distributed Maritime Operations strategy.
The $35 million initial award is part of a $281 million program that includes a prototype and options for a total of nine MUSVs. L3Harris will integrate the company’s ASView™ autonomy technology into a purpose-built 195-foot commercially derived vehicle from a facility along the Gulf Coast of Louisiana. The MUSV will provide intelligence, surveillance and reconnaissance to the fleet while maneuvering autonomously and complying with international Collision Regulations, even in operational environments.
“The MUSV program award reinforces our investments in the unmanned market and demonstrates our ongoing commitment to bring mission-critical capabilities to our warfighters,” said Sean Stackley, President, Integrated Mission Systems, L3Harris. “L3Harris is continuing to develop a full range of highly reliable and affordable autonomous maritime capabilities to enable distributed maritime operations in support of the National Defense Strategy.”
L3Harris will be the systems integrator and provide the mission autonomy and perception technology as the prime contractor on the program. The program team includes Gibbs & Cox and Incat Crowther who will provide the ship design and Swiftships will complete the construction of the vehicle.
L3Harris is a world leader in actively powered Unmanned Surface Vehicle (USV) systems, with over 115 USVs delivered worldwide. L3Harris’ USVs are actively serving the Navy, universities, research institutions and commercial businesses.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries. L3Harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs and about system capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Deanna Burke
Integrated Mission Systems
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856-338-3437
Sara Banda
Media Relations
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321-674-4498
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