LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, today announced that AECOM Global II, LLC (the “Issuer”), a subsidiary of AECOM, has redeemed all of its outstanding 5.000% senior notes due 2022 (the “Notes”), in an aggregate principal amount of $248,522,000 (the “Redemption”). AECOM had announced on August 4, 2020 that it had delivered a Notice of Redemption for the Notes. The Redemption was funded using cash on hand and $248.5 million in proceeds from a July 30, 2020 borrowing under the Company’s lower-cost delayed draw term loan facility. With the completed Redemption, the Company has added lower-cost, longer-duration and pre-payable debt that will result in annual cash interest savings of approximately $6 million.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of approximately $13.6 billion in fiscal year 2019. See how we deliver what others can only imagine at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Management Services transaction, including the risk that the expected benefits of the Management Services transaction or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with the Management Services transaction will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
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GCT’s New York Terminal implements Navis N4 via remote assistance to modernize its offerings
OAKLAND, Calif.--(BUSINESS WIRE)--Navis, a part of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, today announced that Global Container Terminals (GCT) New York has gone live with Navis N4. The terminal upgraded its TOS during the pandemic and completed the go-live via remote assistance from the Navis team.
As a full-service container and general cargo facility in the New York harbor, GCT New York is a gateway to the world’s largest and most affluent markets in the US. The terminal, located on Staten Island, sits on 187 acres and features on-dock rail, complete container freight station services and easy access to major interstate highways. GCT New York consistently delivers best-in-class service, the highest productivity in the harbor and industry leading, reliable turn times.
Despite the uncertain market conditions as a result of COVID-19, GCT decided to push forward and continue investing for the future to stay ahead of the curve - enabling better visibility and enhancing its already excellent service and productivity levels to exceed customer expectations. This included making the transition to N4. Navis is the TOS of choice for GCT company-wide, as it offers the flexibility to operate multiple operational models and strategies while providing GCT the ability to both modernize and standardize its IT infrastructure. GCT worked with Navis to devise a strategy for remote implementation to bring the New York facility online with N4 without disrupting daily operations.
“GCT is committed to modernization and investment in technology, people and processes across our terminals to enhance fluidity, visibility, safety and service,” said Erik Ward, Chief Information Officer, GCT Global Container Terminals. “The deployment to N4 not only ensures that our teams have the right tools to manage day-to-day operations and customer service, but also equips us with new, innovative features for our customers and better prepares us to execute future strategic initiatives.”
While GCT remained steadfast in its commitment to pushing forward with the project, the added challenge of going live during a pandemic required that the Navis project team pivot quickly to a remote operation. “During these uncertain times, it is imperative that we are able to offer options for terminals to go forward with their business plans so they can continue to provide top-notch service to their customers,” said Chuck Schneider, Chief Customer Officer, Navis. “At the start of the outbreak, the Navis team was able to quickly alter our go-live strategy, and have since successfully completed several N4 go-lives 100 percent remotely. By upgrading to N4, GCT now has the structure in place to adapt quickly to changing expectations and market conditions and the flexibility to implement new strategies and models as a result. At the end of the day, having a flexible solution that allows you to pull different levers to meet your current needs can make all the difference and we look forward to helping other terminals map their plans forward.”
For more information visit www.navis.com.
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 optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2019 totalled approximately EUR 3.7 billion and it employs around 12,000 people. www.cargotec.com
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TORONTO--(BUSINESS WIRE)--Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) announced that its previously disclosed transaction to improve its capital structure (the “Transaction”) was completed effective today pursuant to its plan of arrangement under the Canada Business Corporations Act (the “Plan of Arrangement”).
“Completion of our balance sheet initiative marks an important milestone and is indicative of our ongoing efforts to build balance sheet strength,” said David Pathe, President and CEO of Sherritt International. “With today’s closing, we have eliminated $2.3 billion of debt over the past six years and effectively resolved our Ambatovy investment legacy while also extending the maturity of our debt to November 2026. This progress positions us to take advantage of strong nickel market fundamentals expected in the coming years.”
As was previously announced by the Corporation, the Plan of Arrangement was overwhelmingly approved by holders of the Corporation’s outstanding (i) 8.00% senior unsecured debentures due 2021, (ii) 7.50% senior unsecured debentures due 2023, and (iii) 7.875% senior unsecured notes due 2025, and holders of the Corporation’s obligations under its Ambatovy Joint Venture partner loans (collectively, the “Debtholders”) at the meeting of Debtholders held on July 23, 2020, and was approved by the Ontario Superior Court of Justice (Commercial List) on August 6, 2020.
The Transaction has resulted in the reduction of Sherritt’s outstanding debt obligations by approximately $305 million, the extension of maturities in respect of its note obligations to 2026 and 2029, and no dilution to the Corporation’s common shares. The implementation of the Transaction has provided a stronger financial foundation and improved liquidity for the Corporation as a result of annual cash interest payment savings of more than $15 million. The Transaction has also addressed Sherritt’s Ambatovy investment legacy, terminating Sherritt’s obligations relating to the Ambatovy Joint Venture and transitioning Sherritt’s operatorship of the project.
Goodmans LLP acted as Sherritt’s legal advisor in connection with the Transaction and National Bank Financial Inc. acted as its financial advisor.
About Sherritt
Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects, operations and investments in Canada and Cuba. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.
Forward-Looking Statements
This news release contains certain forward-looking statements. Forward-looking statements can generally be identified by the use of statements that include such words as “believe”, “expect”, “anticipate”, “intend”, “plan”, “forecast”, “likely”, “may”, “will”, “could”, “should”, “suspect”, “outlook”, “projected”, “continue” or other similar words or phrases. Specifically, forward-looking statements in this document include, but are not limited to, statements set out in this news release relating to the effects of the Transaction on the Corporation and its stakeholders, and nickel market fundamentals.
Forward-looking statements are not based on historic facts, but rather on current expectations, assumptions and projections about future events, including matters relating to the proposed Transaction; commodity and product prices and demand; the level of liquidity; production results; realized prices for production; earnings and revenues; and certain objectives, goals and plans. By their nature, forward looking statements require the Corporation to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that those assumptions may not be correct and that actual results or payments may differ materially from such predictions, forecasts, conclusions or projections.
The Corporation cautions readers of this news release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, risks associated with: the ability of the Corporation to achieve its financial goals; the ability of the Corporation to operate in the ordinary course, including with respect to satisfying obligations to service providers, suppliers, contractors and employees; the ability of the Corporation to continue as a going concern; the ability of the Corporation to continue to realize its assets and discharge its liabilities and commitments; the Corporation’s future liquidity position, and access to capital, to fund ongoing operations and obligations (including debt obligations); the ability of the Corporation to implement and successfully achieve its business priorities; the ability of the Corporation to comply with its contractual obligations, including, without limitation, its obligations under debt arrangements; the general regulatory environment in which the Corporation operates; the tax treatment of the Corporation and the materiality of any legal and regulatory proceedings; the general economic, financial, market and political conditions impacting the industry and markets in which the Corporation operates; the ability of the Corporation to sustain or increase profitability, fund its operations with existing capital and/or raise additional capital to fund its operations; the ability of the Corporation to generate sufficient cash flow from operations; the impact of competition; the ability of the Corporation to obtain and retain qualified staff, equipment and services in a timely and efficient manner; the ability of the Corporation to retain members of the senior management team, including but not limited to, the officers of the Corporation; and the impact on business operations of the Corporation resulting from the COVID-19 pandemic and the responses of government and the public to the pandemic. Readers are cautioned that the foregoing list of factors is not exhaustive and should be considered in conjunction with the risk factors described in this news release and in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the Management’s Discussion and Analysis of the Corporation for the year ended December 31, 2019, the Management’s Discussion and Analysis of the Corporation for the three and six months ended June 30, 2020, and the Annual Information Form of the Corporation dated March 19, 2020 for the period ending December 31, 2019, which are available on SEDAR at www.sedar.com.
The Corporation may, from time to time, make oral forward-looking statements. The Corporation advises that the above paragraph and the risk factors described in this news release and in the Corporation’s other documents filed with the Canadian securities authorities should be read for a description of certain factors that could cause the actual results of the Corporation to differ materially from those in the oral forward-looking statements. The forward-looking information and statements contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
Joe Racanelli, Director of Investor Relations
Telephone: 416-935-2457
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Assessment of Sabine Pass facility shows no significant damage to facility; Executing plan to safely restart LNG production
HOUSTON--(BUSINESS WIRE)--#CheniereSTRONG--Cheniere Energy, Inc. (“Cheniere” or the “company”) (NYSE American: LNG) and Cheniere Energy Partners, L.P. (NYSE American: CQP) announced today that a comprehensive facility and operational assessment of the Sabine Pass Liquefaction facility and pipeline assets revealed no significant damage as a result of Hurricane Laura, with the facility performing as designed through the storm. Cheniere has started to execute on its plan to restart LNG production at Sabine Pass. The company also announced a pledge of $1 million to local organizations supporting hurricane relief efforts.
“Most importantly, all of our employees are safe and accounted for. After the storm, we carefully assessed our facility and discovered no significant damage, and we have begun executing startup plans to safely resume operations,” said Jack Fusco, President and CEO of Cheniere. “We know that while our facility emerged from this storm, many of our coworkers, friends and neighbors need assistance. Our pledge of $1 million, in addition to our volunteer time and other efforts, will help the region quickly recover from the impacts of Hurricane Laura.”
“I want to thank Cheniere for stepping up during our state’s time of need with this commitment,” said Louisiana Governor John Bel Edwards. “It is important for all of us to join together in recovery efforts for our communities in southwest Louisiana.”
Bechtel, Cheniere’s EPC contractor, is returning today to Sabine Pass to resume work constructing Train 6 and on the Third Berth Project.
Cheniere conducted initial assessments of impact from Hurricane Laura at the Sabine Pass facility by air, boat, and by technical and third-party experts. Prior to the storm, Cheniere activated its emergency office location in Dallas to support essential functions.
Activities undertaken by Cheniere as part of, or in addition to, the $1 million donation include:
Cheniere is committed to its role as a responsible corporate leader and delivers on this promise by engaging in philanthropic activities that support the company’s values. Further information about Cheniere’s corporate giving and volunteerism can be found at www.cheniere.com
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected adjusted aggregate nominal production capacity of up to 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the Securities and Exchange Commission.
Cheniere Energy, Inc.
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FORT WORTH, Texas--(BUSINESS WIRE)--Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) was recognized with the top ranking in customer satisfaction in EnergyPoint Research’s 2020 Oilfield Services Customer Satisfaction Survey. The Company rated first in Workovers and Well Services, as well as in Water Management Services.
The rankings covered 33 companies this year, the largest such survey to date by EnergyPoint. The survey has been conducted annually since 2008 and focuses on the oil and gas industry’s satisfaction with the product and service providers serving the industry.
“I am extremely proud of our employees at Basic for their long-standing commitment to delivering safe, high-quality services to our customers. 2020 marks the fifth year running that we have achieved first place ratings in multiple categories in the EnergyPoint Research survey,” said Keith Schilling, President and CEO of Basic. “This recognition is a testament to the hard work our people do every day to ensure that we are the trusted production services company in the U.S. Their commitment to customer satisfaction and dedication to being the leader in the industry are core to this Company and its success in the field.”
About Basic Energy Services
Basic Energy Services provides wellsite services essential to maintaining production from the oil and gas wells within its operating areas. The Company’s operations are managed regionally and are concentrated in major United States onshore oil-producing regions located in Texas, California, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota and Colorado. Our operations are focused in liquids-rich basins that have historically exhibited strong drilling and production economics in recent years with a significant presence in the San Joaquin Basin, Permian Basin, Powder River Basin, and the Bakken, Eagle Ford, and Denver-Julesburg shales. We provide our services to a diverse group of over 2,000 oil and gas companies. Additional information on Basic Energy Services is available on the Company’s website at www.basices.com.
Safe Harbor Statement
This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact and reflect Basic’s current views about future events. The words "believe," "estimate," "expect," "anticipate," "project," "intend," "seek," "could," "should," "may," "potential" and similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Although Basic believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions and estimates, certain risks and uncertainties could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release and the presentation. These risks and uncertainties include, without limitation, our ability to successfully execute, manage and integrate acquisitions, including the recent acquisition of C&J, reductions in our customers’ capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, volatility in commodity prices for crude oil, including the recent significant decline in oil prices, and natural gas, local and global impacts of the COVID-19 virus, and the negative impacts of the delisting of the Company’s common stock from the NYSE. Additional important risk factors that could cause actual results to differ materially from expectations are disclosed in Item 1A of the Company’s most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. While Basic makes these statements and projections in good faith, neither Basic nor its management can guarantee that the transactions will be consummated or that anticipated future results will be achieved. Any forward-looking statement speaks only as of the date on which such statement is made and Basic assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Basic, whether as a result of new information, future events, or otherwise, except as required by applicable law.
David Schorlemer
EVP & CFO
Basic Energy Services, Inc.
817-334-4100
ENEOS Innovation Partners G.K., the CVC arm of the ENEOS Group has made a strategic investment in Ossia as part of its new business development initiative
TOKYO & BELLEVUE, Wash.--(BUSINESS WIRE)--#Cota--Ossia Inc. (Ossia), the company behind Cota® Real Wireless Power™ today announced a strategic investment by ENEOS Innovation Partners G.K (ENEOS IP). By adding ENEOS Holdings, Inc. (ENEOS HD) to the Ossia ecosystem, this furthers the strong brand partners that have endorsed Ossia’s Cota Real Wireless Power. Ossia’s ecosystem partners fill many roles including investors, commercial partners, deployment partners and brands who license the Cota technology.
ENEOS HD is a $94B USD (as of FY2019) Japanese petroleum, oil & gas exploration, and metals conglomerate that is one of Japan’s top ten largest companies (based on revenue as of March 31, 2019) with over 40,000 employees. The ENEOS brand is also a well-known consumer brand in Japan, especially for gas stations and electricity, and is widely recognized globally by race car sponsorships.
Ossia’s FCC-certified Cota technology efficiently delivers targeted energy to devices at-a-distance without wires, cables, or charging pads. ENEOS HD evaluated several wireless power companies and chose Ossia’s Cota technology to make a strategic investment.
The partnership with Ossia includes a strategic investment in the company to bring Cota Real Wireless Power to market. Utilizing ENEOS Group’s established consumer global brand presence in the energy field, Ossia and ENEOS HD will work together to explore wireless power opportunities in Japan and more broadly in Asia.
“We believe Ossia’s innovative technology has the potential to dramatically change people’s behavioral patterns, introducing a paradigm shift in their lifestyles," said Yasunori Yazaki (Executive Officer of ENEOS HD and President of ENEOS IP). "We are very excited about this strategic investment in Ossia and we look forward to a productive partnership.”
Ossia continues to license its Cota technology to a growing ecosystem of brands, system integrators and device makers across the world. Ossia has received multiple FCC certifications for Cota wireless power systems, with many more planned as Cota-enabled products continue to develop. Ossia has a network of partners of the Cota technology. ENEOS HD joins the Cota ecosystem to accelerate bringing Real Wireless Power products to market.
"ENEOS is a large, well-respected global brand with stronghold in Japan and more broadly throughout Asia in the energy sector. The strategic alignment for ENEOS and Ossia is clearly another step in making Cota the global leader in wireless power,” said Doug Stovall, Chief Revenue Officer of Ossia. "We are thrilled to add ENEOS as a strategic investor to the Ossia ecosystem and look forward to the work we will do together."
About ENEOS Holdings, Inc.
ENEOS Holdings, Inc. is a Japanese petroleum, oil & gas exploration, and metals conglomerate, a listed company on the first section of Tokyo Stock Exchange in Japan.
ENEOS Group seeks to develop new businesses that are in line with the group’s “Long-Term Vision” through its Corporate Venture Capital arm, ENEOS IP (https://www.eneos-innovation.co.jp).
You can read more at: https://www.hd.eneos.co.jp/english/company/system/plan.html
About Ossia
Ossia Inc. is leading the world on what is possible with wireless power. Ossia’s flagship Cota® technology redefines wireless power by safely delivering remote, targeted energy to devices at a distance. Ossia’s Cota technology is a patented smart antenna technology that automatically keeps multiple devices charged without any user intervention and enables an efficient and truly wire-free, powered-up world that is always on and always connected. Ossia is headquartered in Bellevue, Washington. Visit our website at www.ossia.com.
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WATSONVILLE, Calif.--(BUSINESS WIRE)--#SafetyByChoice--Granite (NYSE:GVA) is pleased to announce a Granite Inliner project, the Stamford Interceptor Trunk Sanitary Sewer Phase 1 Project for the Region of Niagara, Ontario, has been awarded the Association of Municipalities of Ontario (AMO) Gas Tax Award. The AMO Gas Tax Award recognizes excellence in the use of federal Gas Funds. The Niagara Region was presented this award for their investment of federal Gas Tax funding in an innovative sewer rehabilitation project in the City of Niagara Falls.
The Stamford Interceptor Trunk Sanitary Sewer Phase 1 Project was completed by LiquiForce, Granite Inliner’s Canadian-based rehabilitation services company, using a no-dig trenchless pipeline rehabilitation technology, also known as cured-in-place pipe (CIPP) lining. CIPP extends the life of hydraulically adequate sewers at lower cost than excavating and replacing sewers in the streets and is less disruptive to vehicular and pedestrian traffic during construction while minimizing the environmental impact.
LiquiForce rehabilitated 7,600 feet (2,300 meters) of new and existing 42-inch (1,050-millimeter) and 48-inch (1,200-millimeter) diameter sanitary sewer main and 23 manholes bypassing the entire system including three pumping stations.
The Honorable Catherine McKenna, Canada’s Minister of Infrastructure and Communities, addressed the Federal Gas Tax Awards ceremony, praising Niagara Region’s “very impressive work.”
“Congratulations to this year’s winner, Niagara Region,” said Minister McKenna. “You combined innovation and environmentally-friendly engineering and supported long-term planning with your sewer pipeline project. And you did a great job keeping the impact on the busy Niagara Falls tourism sector minimal.”
“It’s great to get recognition for the innovation that went into this project,” said Niagara Region Regional Chair, Jim Bradley. “The federal Gas Tax Fund played a very big role in making this happen.”
Read the AMO Gas Tax Award press release.
About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for ten consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.
About Granite Inliner
Granite Inliner is one of the nation’s largest cured-in-place pipe and trenchless pipe providers, and offers sustainable pipeline rehabilitation services to both public and private sectors. Granite Inliner installs safe, cost-effective, and long-term solutions for aging water, wastewater and sewer infrastructure needs. In June 2018, they became a wholly-owned subsidiary of Granite Construction Incorporated.
About LiquiForce
LiquiForce is a leader in no-dig trenchless pipeline rehabilitation services for water and wastewater pipeline systems, and have offices in both Canada and the United States. Services include complete pipeline system inspection, assessment, rehabilitation and maintenance. In June 2018, LiquiForce became a wholly-owned subsidiary of Granite Construction Incorporated.
About Liner Products
Supplying more than 40 million feet of cured-in-place pipe (CIPP) liner since 1999, Liner Products has a strong legacy of being a trusted source and top supplier of high-performance pipe lining tubes and material throughout North America. In June 2018, Liner Products became a wholly-owned subsidiary of Granite Construction, Inc.
About AMO
AMO is a non-profit organization representing almost all of Ontario’s 444 municipal governments. AMO supports and enhances strong and effective municipal government in Ontario and promotes the value of municipal government as a vital and essential component of Ontario and Canada’s political system.
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Building on its renewables expertise further positions the company’s solar business for continued investment and growth
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Black & Veatch, a global leader in power infrastructure engineering, procurement and construction (EPC) services, today announced that Paul Skurdahl has been named Senior Vice President and Director of Solar Energy within the company’s rapidly growing power business.
Backed by more than 35 years in the power industry, including over 15 years in renewables, Skurdahl joins the company during a time of growing investment in renewable energy generation as the electric industry strives to maximize reliability and resilience while lowering its carbon footprint through clean, affordable energy options. Solar power continues to play a growing role in the world’s diversified energy portfolio; last year the U.S. solar market grew by 23 percent, helping solar power account for nearly 40 percent of all new electrical capacity added that year – an industry first. Black & Veatch, a global leader in power generation, transmission and distributed energy solutions, played a key role in helping to address the rising demand.
Skurdahl brings deep expertise and EPC experience working across the renewables space, including all phases of development, engineering and construction. His experience with power purchase agreements (PPAs), interconnect and partner agreements, and energy trading provide a unique client/market perspective that will complement and expand Black & Veatch’s ability to deliver a wide range of innovative renewable solutions. Skurdahl will provide leadership and project insights while further positioning the company’s solar business for growth.
“The influx of renewable energy is playing a key role in the diverse generation portfolio needed to meet the world’s power demand,” said Mario Azar, President of Black & Veatch’s power business. “Clients are increasingly looking for a solutions provider who can offer a cohesive yet flexible range of technologies and services, and guide and execute renewable projects from development through deployment.”
Before joining Black & Veatch, Skurdahl spent 15 years in various leadership positions for Avangrid Renewables. Most recently, he served as interim vice president of projects, where he directed a team of more than 50 professionals responsible for the design and construction of U.S. wind, solar and storage projects. Prior to that, he managed teams of engineering and estimating professionals providing development, design, procurement and capital budgeting for projects with an annual capital/construction budget of more than $2 billion.
Skurdahl has a Bachelor of Science in Electrical Engineering from Oregon State University.
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
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YOKOHAMA, Japan--(BUSINESS WIRE)--#CleanEnergy--Mitsubishi Power, a major subsidiary of the Mitsubishi Heavy Industries (MHI) Group, officially changed its corporate name from Mitsubishi Hitachi Power Systems today. The rebrand marks the start of an exciting new chapter in the company’s mission to solve the foremost energy challenges of our time, including decarbonizing energy and bringing reliable power to people all over the world. With its new brand identity, which was developed after consultation with key customers, employees and partners, Mitsubishi Power moves forward in its ambition to become a leading energy solutions company with a broad spectrum of businesses in grid-level power generation, renewables, energy storage and digital technologies.
Following the rebrand, Mitsubishi Power becomes a wholly owned subsidiary of MHI Group. Its enhanced position within the Group will enable it to establish greater synergies with its sister companies and expand its business by tapping new customer categories. Mitsubishi Power will capitalize on existing investments in emerging energy solutions, such as hydrogen, ammonia and solar power, to address the diverse and increasingly complex energy needs of customers around the world.
Mr. Ken Kawai, President and CEO of Mitsubishi Power, Ltd., said, “Providing people access to clean, stable, and affordable power is among global society’s most urgent mandates today. With our new identity, Mitsubishi Power is exceptionally poised to lead in solving these challenges. Building on a legacy of strong engineering and distinctive service, we will develop even more cutting-edge solutions to better serve our customers while broadening our portfolio. As an energy solutions company, we will partner more closely with governments, utilities, industry leaders and our fellow companies within the MHI Group to create a future that is good for people and the planet.”
In addition to the new name and logo, Mitsubishi Power also unveiled a new mission statement and announced that it will adopt the MHI Group tagline “Move the World Forward” (See Annex A).
Throughout its history, Mitsubishi Power has built a strong position as a trusted partner to power generation companies globally. As it enters this new phase, the company will apply its world-leading engineering prowess, drive for innovation and renowned customer service to deliver reliable energy, ultimately galvanizing the progress of nations, communities and individuals everywhere.
About Mitsubishi Power, Ltd.
Mitsubishi Power, Ltd. is a leading provider and innovator of technology and solutions for the global energy sector. Headquartered in Yokohama, Japan, it is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd., whose engineering and manufacturing businesses span energy, infrastructure, transport, aerospace and defense. With more than 18,000 employees across 31 countries worldwide, Mitsubishi Power designs, manufactures and maintains equipment and systems that drive decarbonization and ensure delivery of reliable power around the world. Among its solutions are a wide range of gas turbines including hydrogen-fueled gas turbines, solid-oxide fuel cells (SOFCs), and air quality control systems (AQCS). Committed to providing exemplary service and working with customers to imagine the future of energy, Mitsubishi Power is also spearheading the development of the digital power plant through its suite of AI-enabled TOMONITM solutions.
For more information, please visit https://power.mhi.com.
ANNEX A: Mitsubishi Power Corporate Identity
Brand Logo and Name
The new brand logo combines the three diamonds figurative mark of Mitsubishi with the English company name. The logo font, a roundish, modern design in a gothic typeface, was adopted to present an image of the advanced, environment-friendly power generation technologies that Mitsubishi Power seeks to offer, while at the same time expresses a corporate stance of responding flexibly to societal changes.
Mission Statement
Mitsubishi Power is creating a future that works for people and the planet by developing innovative power generation technology and solutions to enable the decarbonization of energy and deliver reliable power everywhere.
Tagline
“Move the World Forward”
ANNEX B: Mitsubishi Power Corporate Information
Representative |
Ken Kawai, President and CEO |
Global Headquarters |
3-1, Minato Mirai 3-chome, Nishi-ku, Yokohama, Kanagawa, Japan |
Regional Headquarters |
Asia Pacific: Singapore Greater China: Shanghai Europe, Middle East and Africa: London Americas: Lake Mary, Florida |
Number of Employees Globally |
18,356 (as of April 2020) |
Number of Main Group Companies |
69 companies (including 8 companies in Japan) |
Major Offerings |
Power plants:
Products, equipment and services:
|
PRESS CONTACT:
Shimon Ikeya
Communications Group
Communications & Government Relations Department
Mitsubishi Power, Ltd.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +81-45-200-7163
DUBLIN--(BUSINESS WIRE)--The "North Sea Offshore Decommissioning Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The North Sea offshore decommissioning market is expected to grow at a CAGR of over 5% during the forecast period of 2020 - 2025.
Factors such as aging offshore infrastructure in the oil and gas industry, rising offshore oil and gas production activities, and increasing oil and gas demand are expected to be major drivers driving the market. However, the volatile nature of oil prices in recent years led to decreased capital expenditure in the upstream oil & gas industry, causing a slowdown for the market studied.
Companies Mentioned
Key Market Trends
Shallow Water to Dominate the Market
United Kingdom to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 North Sea Offshore Active Rig Count, till 2019
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Water Depth
5.1.1 Shallow Water
5.1.2 Deepwater and Ultra-Deepwater
5.2 Geography
5.2.1 United Kingdom
5.2.2 Norway
5.2.3 Rest of North Sea
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Able UK
6.3.2 Aker Solutions ASA
6.3.3 AF Gruppen S.A.
6.3.4 John Wood Group PLC
6.3.5 DNV GL
6.3.6 Heerema Marine Contractors (HMC)
6.3.7 Allseas Group
6.3.8 TechnipFMC PLC
6.3.9 DeepOcean Group Holding B.V.
6.3.10 Equinor ASA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/25sglb
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AKRON, Ohio--(BUSINESS WIRE)--$BW #middleeast--Babcock & Wilcox (B&W) (NYSE: BW) continued its expansion into the Middle East and Africa with the formation of Babcock & Wilcox Middle East Holdings, Ltd. and the opening of a headquarters in Dubai, United Arab Emirates for this business. Concurrent with this announcement, Wassim Moussaoui has been named Managing Director, B&W Middle East Holdings.
The new headquarters for B&W Middle East Holdings, Ltd. is located in the Dubai International Financial Center (DIFC) and will serve as B&W’s hub for sales, business development and operations in the Middle East and Africa region and will support the company’s growth in Saudi Arabia, Kuwait, Egypt, Oman and Qatar. The office will serve customers for the company’s new strategic, market-facing segments – B&W Environmental, B&W Renewable and B&W Thermal.
“B&W Middle East Holdings, under the direction of Wassim Moussaoui, strengthens our presence in the expanding environmental, renewable and thermal markets in the Middle East and Africa. We see approximately $4 billion in addressable market potential in the countries and lines of businesses where we are focusing our efforts, and we’re pleased that Wassim will lead our growth efforts in this key geographic region,” said B&W Chief Executive Officer Kenneth Young. “Wassim brings more than 15 years of international business development experience to this role. His depth of knowledge and expertise make him an ideal fit for this position.”
Moussaoui joined B&W in 2017, most recently serving as Senior Director, Sales & Business Development, Europe, Middle East & Africa. Prior to joining B&W, he worked for Babcock Borsig Steinmüller GmbH for 11 years, most recently serving as the company’s Head of Sales & Proposals. Moussaoui holds a master’s degree in Mechanical Engineering from the Munich University of Applied Sciences.
B&W is actively expanding its sales and business development team throughout the world. Targeted expansion regions include the Middle East, Africa and Asia-Pacific as they offer significant opportunities for the company’s advanced technologies, including waste-to-energy, biomass, advanced thermal and environmental solutions.
About B&W
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the formation of B&W Middle East Holdings, Ltd. as part of B&W’s continued expansion into the Middle East and Africa. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#CNG--Fortistar and Paloma Dairy today announced the beginning of construction on a dairy digester renewable natural gas (RNG) facility, the Sunoma Renewable Biofuel Project. The new facility will produce 1.6 million gasoline gallon equivalents (GGE) of vehicle fuel annually for the Class 8 trucking sector—enough fuel to move 10 million miles of freight.
In addition to the significant community environmental benefits and cost savings for the fleets that use the fuel, the project will boost the local economy with 50 construction jobs and six permanent positions in Gila Bend, Arizona. This project continues an aggressive renewable fuels growth strategy at Fortistar designed to help businesses and public agencies dramatically reduce their greenhouse gas (GHG) emissions with a solution that also saves them money. TruStar Energy, a Fortistar portfolio company and leading developer of natural gas fueling stations, will market and deliver the RNG fuel.
“This one project will help provide solutions for two important American industries. We are using our expertise to create new revenue streams for dairies while capturing methane and repurposing it to decarbonize the transportation sector,” said Mark Comora, president of Fortistar. “We are excited about partnering with the Van Hofwegen family on the Sunoma Renewable Biofuel Project to create the lowest carbon transportation fuel on the market.”
“The decision was easy,” remarked Robert Van Hofwegen Sr., patriarch of the Paloma Dairy family business. “We saw a great environmental and economic opportunity in the management of our manure and emissions. The key was finding a partner that could execute and unlock the potential value. We believe we found that partner in Fortistar and we look forward to working with them on this most exciting project.”
Paloma Dairy is owned by the Van Hofwegen family, a fourth-generation dairy farm family in Gila Bend, AZ. The farm relies on the latest radio-frequency identification (RFID) technology that helps to provide its distinctive black and white Holstein cows with individualized care and provisions. Paloma Dairy keeps track of the complete health record of each cow via its signature RFID technology, which also allows employees to check on the health of each cow daily. In addition to the care of over 10,000 animals, the farm produces cow feed via alfalfa, corn silage, wheat and barley across 7,000 acres of farmland.
Montrose Water and Sustainability Services, a division of Montrose Environmental Group, completed design and engineering for the project as well as equipment procurement. Montrose’s subject matter experts will provide construction oversight, along with startup and commissioning support for the project. Industrial Services Company (ISC) will lead the building of the system.
Strengthening their position in the RNG industry, the Montrose team is excited to partner with Fortistar, the Van Hofwegen Family and ISC to bring to market an industry-leading anaerobic digestion project that will offer long-term sustainability benefits to the farm and local community. The project will be interconnected with Southwest Gas Company who will also purchase the gas. The Low Carbon Fuel Standard (LCFS) credits will be sold to Chevron under a long-term agreement. Initial project development was performed by Black Bear Environmental Assets Advisors. Financing was provided by Live Oak Bank.
The Sunoma Renewable Biofuels Project is the third of 12 new Fortistar RNG projects totaling nearly $500 million in capital that Fortistar expects to begin over the next year. These new projects will help produce 120 million GGE of RNG over the next three years and reduce U.S. transportation emissions by 2 million metric tons of CO2 annually, which is the equivalent of taking approximately 424,628 passenger cars off the road.
About Fortistar
Founded in 1993, Fortistar is a privately-owned investment firm that successfully builds, operates and manages companies and projects that address global challenges that others view as too complex or uncertain. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing assets, first in independent power projects and now into other areas that support decarbonization. As a team, Fortistar has led financings raising over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.fortistar.com and follow the company on LinkedIn.
Hayley Advokat
(202) 579-1062
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DUBLIN--(BUSINESS WIRE)--The "Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global luxury yacht market grew at a CAGR of around 7% during 2014-2019. Looking forward, the publisher expects the global luxury yacht market to continue its moderate growth during the next five years.
A luxury yacht is a crewed sailing vehicle that is primarily used for recreational activities and sports. It can be operated through wind sailing or by a propulsion system, such as an internal combustion engine (ICE) and gas turbine.
Luxury yachts are commonly manufactured using various materials, such as steel, aluminum, fiberglass, wood, carbon fiber and treated wood with epoxy resins. They are usually charted or rented by private entities and accommodated with sophisticated, luxurious and personalized facilities, such as jacuzzi spa, gymnasium, sauna and sun pads. They are also equipped with modern design, style, comfort and technologically advanced components to enhance the overall performance of the yacht and user experiences.
Rapid urbanization, along with significant growth in the recreational tourism sector, is one of the key factors creating a positive outlook for the market. Furthermore, the emerging trend of remote explorations is also providing a boost to the market growth. There is an increasing preference for leisure, sports activities and luxurious experiences by individuals across the globe. Luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events.
Additionally, the utilization of advanced structural materials, such as fiberglass, and the development of customized solutions according to specific requirements and designs, are also contributing to the market growth. Other factors, including rising expenditure capacity of the consumers, along with the utilization of alternative fuels in the marine industry, are expected to drive the market further.
Companies Mentioned
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Luxury Yacht Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Sailing Luxury Yacht
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Motorized Luxury Yacht
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Size
7.1 75-120 Feet
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 121-250 Feet
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Above 250 Feet
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Material
8.1 FRP/Composites
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Metal/ Alloys
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Application
9.1 Commercial
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Private
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.2 Asia Pacific
10.3 Europe
10.4 Latin America
10.5 Middle East and Africa
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Indicators
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/7pewxy
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SAN FRANCISCO--(BUSINESS WIRE)--Candela Renewables announced an agreement with Google for a 140 MW power purchase agreement in Texas, bringing new green energy to the ERCOT power grid. As part of the agreement, Candela will develop a new solar power project, boosting the local economy as a result of the investment and creating new construction and permanent full-time jobs.
Over our years working together, the team at Candela has pushed itself to not just develop renewable power and storage projects, but to create projects and find partners that move the entire industry forward in innovative ways that have an impact beyond an individual piece of infrastructure.
For more information on the agreement, please visit: https://www.candelarenewables.com/news-blog/helping-set-a-new-standard-for-energy-innovation.
About Candela Renewables
Founded by former First Solar executives, Candela has the most accomplished team developing utility-scale solar power projects in the United States. Since it was founded in 2018, Candela has assembled a portfolio of more than 3.6 GW of utility-scale solar projects and 2.2 GW of co-located energy storage. This includes 240 MWAC of solar and 50 MWAC / 200 MWh of co-located storage with executed or awarded PPAs across 2 projects and an additional 340 MWAC shortlisted or in bilateral negotiations, showcasing their ability to deliver high-quality, well-developed projects.
Candela has in-house expertise across all stages of the development lifecycle and can efficiently bring projects to either NTP or COD through their focused, proven and differentiated development strategy.
For more information, visit https://www.candelarenewables.com/
Sarah Ohlson, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Biodiesel: 2020 World Market Outlook and Forecast up to 2029 (with COVID-19 Impact Estimation)" report has been added to ResearchAndMarkets.com's offering.
This report provides detailed information on the world biodiesel market. The report covers data on global, regional and national markets including present and future trends for supply and demand, prices, and downstream industries. In addition to the analytical part, the report provides a range of tables and figures which all together give a true insight into the national, regional and global markets for biodiesel.
Report Scope
COVID-19 IMPACT ESTIMATION
Key Topics Covered:
RESEARCH METHODOLOGY
1. INTRODUCTION: BIODIESEL PROPERTIES AND USES
2. BIODIESEL MANUFACTURING PROCESSES
3. BIODIESEL WORLD MARKET
4. BIODIESEL EUROPEAN MARKET ANALYSIS
5. BIODIESEL ASIA PACIFIC MARKET ANALYSIS
6. BIODIESEL NORTH AMERICAN MARKET ANALYSIS
7. BIODIESEL LATIN AMERICAN MARKET ANALYSIS
8. BIODIESEL MIDDLE EAST & AFRICA MARKET ANALYSIS
9. BIODIESEL MARKET PROSPECTS
10. KEY COMPANIES IN THE BIODIESEL MARKET WORLDWIDE
11. BIODIESEL END-USE SECTOR
For more information about this report visit https://www.researchandmarkets.com/r/hco4ac
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
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Privately held E&P chooses production optimization software to improve cash flow
HOUSTON--(BUSINESS WIRE)--Ambyint, the leader in well lifecycle production optimization, today announced Alta Resources has selected Ambyint InfinityPL™ and SmartStream™ to provide advanced well optimization capabilities. Alta is a private oil and gas company headquartered in Houston, Texas. The company has wells primarily in the Marcellus basin and will deploy Ambyint software to improve operational efficiency and drive additional free cash flow.
Ambyint InfinityPL increases production up to 7% on plunger lift wells detecting anomalous conditions and determining optimal controller setpoints. Early anomaly detection and optimized production are consistent challenges for the majority of plunger wells regardless of basin. InfinityPL gives producers better production outcomes by enabling predictive maintenance opportunities, managing controller setpoints, and improving well stability - all while leveraging existing SCADA infrastructure.
Ambyint SmartStream ensures that production meets plan. Eighty percent of an E&P company’s wells have an anomaly that is often difficult to detect. SmartStream identifies well issues at their onset giving engineers information they need to avoid negative impacts to production volumes. The product also provides insights on the impact of well interventions and integrates into existing data sources, such as production accounting and SCADA systems.
“We are excited that Alta Resources has chosen us as a partner in optimizing production at scale - especially at a time when gaining additional margin is so critical,” says Chris Robart, chief commercial officer at Ambyint. “Our solutions significantly improve well economics, positioning E&P companies not only to survive but thrive in these economic times. Ambyint gives producers the ability to do more with less, and we are thrilled to help Alta on this journey.”
About Ambyint
Ambyint, a market leader in AI-powered optimization for the oil and gas industry, delivers step-change improvements to E&P production outcomes and margins by combining advanced physics and subject matter expertise with artificial intelligence to automate operations and production optimization workflows across all well types and artificial lift systems. www.ambyint.com.
About Alta Resources
Alta Resources is a private company formed in 1999 to explore for onshore oil and natural gas in the United States. The company is headquartered in Houston. Alta owns an interest in approximately 900 Marcellus shale wells together with midstream assets in roughly a quarter of a million net acres and half a million gross acres in northeastern Pennsylvania. Further information is available at www.alta-resources.com.
Ambyint
Ginger Shelfer
+1 346 425 1138
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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) (“NGL” or the “Partnership”) announced today that the Partnership signed a long-term extension and expansion of an acreage dedication with an existing customer. The extension of this agreement is with a leading, investment grade independent producer customer operating in Lea and Eddy Counties, New Mexico within the Delaware Basin. The new agreement increases our acreage dedication by 22,000 acres, increasing the new total dedicated acres with this customer to approximately 122,000 acres, and extends the term through 2027.
“The renewal and extension of this agreement is a huge accolade to the NGL team, as it again demonstrates our ability to continually execute on produced water transportation and disposal needs of our customers in an unrivaled safe, efficient and reliable manner.” stated Christian Holcomb, COO of Water Solutions.
NGL owns and operates the largest integrated network of large diameter produced water pipelines, recycling facilities and disposal wells in the Delaware Basin. The Partnership’s Water Solutions segment operates in a number of the most prolific crude oil and natural gas producing areas including the Delaware Basin in New Mexico and Texas, the Midland Basin in Texas, the DJ Basin in Colorado and the Eagle Ford Basin in Texas.
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.
Commercial:
Christian Holcomb, 303-815-1010
Senior Vice President & Chief Operating Officer – NGL Water Solutions
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Investor Relations:
Trey Karlovich, 918-481-1119
Executive Vice President & Chief Financial Officer
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or
Linda Bridges, 918-481-1119
Senior Vice President - Finance and Treasurer
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE: KSU) today announced the promotion of Rodrigo Flores from vice president automotive to vice president automotive and intermodal sales effective September 1, 2020. In this expanded role, he is responsible for the automotive and intermodal business units in the U.S. and Mexico.
“While leading our automotive business unit over the past year, Rodrigo has demonstrated a strong commitment to serving our customers and growing our business. Rodrigo adopts a talented intermodal sales team, and the consolidation of our automotive and intermodal business units creates a single organization aligned with our customers’ needs and the KCS cross-border growth strategy,” said KCS executive vice president and chief marketing officer Michael J. Naatz. “As a service-oriented leader, I’m very confident in his ability to work with the team to find innovative solutions that benefit our customers and KCS.”
Mr. Flores joined the predecessor to KCSM in 1997 as a manager in external reporting. He joined KCSM’s treasury department as director in 2000 where he served until 2006 when he accepted a position as assistant vice president and assistant treasurer at KCS corporate headquarters in Kansas City. Mr. Flores transitioned from treasury and into sales and marketing as assistant vice president of the automotive business unit where he has served since 2016. He has been vice president automotive since September 2019.
Mr. Flores has over 20 years of transportation experience complemented by a senior auditor position with Price Waterhouse in Mexico City prior to joining KCSM. He holds a bachelor in accounting from the Banking and Commerce School (Escuela Bancaria y Comercial/ EBC) and studied business administration from the Mexico Autonomous Institute of Technology (Instituto Tecnológico Autónomo de México - ITAM).
Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com
C. Doniele Carlson, 816-983-1372, This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners (NYSE: PSXP) announces that its subsidiary Gray Oak Pipeline, LLC (“Gray Oak”) is launching an open season to solicit shipper commitments for services from West Texas on the Gray Oak Pipeline. The open season will provide an opportunity for interested shippers to secure long-term crude oil transportation with Gray Oak under binding transportation services agreements.
There will be new takeaway capacity from West Texas, and a new destination in Victoria County, Texas. This is expected to be placed in service in the first half of 2022.
The open season will commence at 9 a.m. CDT on Sept. 1, 2020. Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the expansion of the Gray Oak Pipeline, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements as defined under the federal securities laws. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include the continued ability of Phillips 66 to satisfy its obligations under our commercial and other agreements; the volume of crude oil, refined petroleum products and NGL we or our joint ventures transport, fractionate, terminal and store; the tariff rates with respect to volumes that we transport through our regulated assets, which rates are subject to review and possible adjustment by federal and state regulators; the ability to obtain and maintain necessary permits for capital projects and operations; fluctuations in the prices for crude oil, refined petroleum products and NGL; liabilities associated with the risks and operational hazards inherent in transporting, fractionating, terminaling and storing crude oil, refined petroleum products and NGL; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; the failure to complete construction of announced and future capital projects in a timely manner and any cost overruns associated with such projects; general domestic and international economic and political developments including: armed hostilities; expropriation of assets; changes in governmental policies relating to crude oil, refined petroleum products or NGL pricing, regulation or taxation; and other political, economic or diplomatic developments, including those caused by public health issues and outbreaks; and other economic, business, competitive and/or regulatory factors affecting Phillips 66 Partners’ businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 Partners is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Phillips 66 Partners:
Jeff Dietert (investors), 832-765-2297
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Brent Shaw (investors), 832-765-2297
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Dennis Nuss (media), 855-841-2368
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A significant regulatory milestone accomplished as NuScale readies to bring its SMR technology to market this decade
PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power announced today that the U.S. Nuclear Regulatory Commission (NRC) completed Phase 6 review—the last and final phase—of the Design Certification Application (DCA) for the company’s groundbreaking small modular reactor (SMR) with the issuance of the Final Safety Evaluation Report (FSER). The FSER represents completion of the technical review and approval of the NuScale SMR design. With this final phase of NuScale’s DCA now complete, customers can proceed with plans to develop NuScale power plants with the understanding that the NRC has approved the safety aspects of the NuScale design.
“This is a significant milestone not only for NuScale, but also for the entire U.S. nuclear sector and the other advanced nuclear technologies that will follow. This clearly establishes the leadership of NuScale and the U.S. in the race to bring SMRs to market. The approval of NuScale’s design is an incredible accomplishment and we would like to extend our deepest thanks to the NRC for their comprehensive review, to the U.S. Department of Energy (DOE) for its continued commitment to our successful private-public partnership to bring the country’s first SMR to market, and to the many other individuals who have dedicated countless hours to make this extraordinary moment a reality,” said NuScale Chairman and Chief Executive Officer John Hopkins. “Additionally, the cost-shared funding provided by Congress over the past several years has accelerated NuScale’s advancement through the NRC Design Certification process. This is what DOE’s SMR Program was created to do, and our success is credited to strong bipartisan support from Congress.”
NuScale’s DCA was completed in December 2016 and accepted by the NRC in March 2017. The review process demonstrated both the simplicity of NuScale’s SMR design and the thoroughness of the company’s application. As an example, during the rigorous Phase 1 review process, which included 115,000 hours spent reviewing the DCA, the NRC issued far fewer requests for additional information compared to other design certification applications. NuScale spent over $500 million, with the backing of Fluor, and over 2 million labor hours to develop the information needed to prepare its DCA application. The company also submitted 14 separate Topical Reports in addition to the over 12,000 pages for its DCA application and provided more than 2 million pages of supporting information for NRC audits.
“The NRC embraced the challenge of reviewing the first-ever small modular reactor DCA, which at the time not only marked an important milestone for NuScale, but also for the nuclear industry as a whole. NuScale appreciates the dedication, time, and effort of the NRC throughout this multi-year process, often with reviews completing ahead of schedule. As a long-time former NRC employee, including as an executive in the Office of New Reactors, I can say that this early issuance of the FSER is truly a credit to everyone at the NRC—including technical review and project staff, management, and the Commission,” said NuScale Vice President of Regulatory Affairs Tom Bergman.
NuScale continues to maintain strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans. The company fields growing domestic and international customer interest from those who see the NuScale power plant as a long-term solution for providing reliable, safe, affordable, and operationally flexible carbon-free energy for diverse applications. NuScale has signed agreements with entities in the U.S., Canada, Romania, the Czech Republic, and Jordan. Similar agreements with other entities are being negotiated.
About NuScale Power
NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 60 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—a power plant can house up to 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.
NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. NuScale has a new logo, brand, and website. Watch the short video.
Media Contact:
Diane Hughes, NuScale Vice President, Marketing & Communications
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(C) 503-270-9329
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