World’s first commercial-scale facility to convert waste gases into sustainable aviation fuel expected to produce 102 million litres per year
LONDON--(BUSINESS WIRE)--Plans for the world’s first commercial-scale factory to transform waste gases into sustainable jet fuel have moved a step closer today. LanzaTech UK Ltd., a subsidiary of LanzaTech NZ, Inc. (“LanzaTech”), an innovative Carbon Capture and Transformation (“CCT”) company, has announced that its DRAGON facility project has received a £25M (~$31M) grant from the UK Department for Transport’s Advanced Fuels Fund Competition. LanzaTech’s Project DRAGON, which stands for Decarbonizing and Reimagining Aviation for the Goal Of Netzero, will convert waste gases into synthetic kerosene for use in sustainable aviation fuel (SAF).
With the funding, Project DRAGON will complete engineering and the project development in collaboration with Fluor Corporation and Technip Energies, required to reach a final investment decision (FID) for the entire waste gas to SAF project. The proposed plant, which will be sited in Port Talbot, South Wales, is expected to produce 102 million litres per year of ATJ Synthetic Paraffinic Kerosene (ATJ-SPK) to be blended with kerosene to make SAF, representing ~1% of annual UK jet fuel demand and making a significant contribution towards the UK Mandate for supplying 10% of total annual jet fuel demand in the U.K. with SAF by 2030.
“We must accelerate deployment of SAF plants in the UK,” said Jennifer Holmgren, CEO of LanzaTech. “We’re excited that Project DRAGON has been recognized for its potential to deliver results and create new jobs while producing the volumes of SAF greatly needed by a sector that has limited options today. I thank the UK Department for Transport for its continued support and for showing leadership in validating new technologies that can have a real impact in the UK and beyond.”
Jonathon Counsell, IAG’s Group Head of Sustainability, said: “Investing in Sustainable aviation fuels (SAF) is one of the best opportunities our industry has to decarbonise. We’re delighted that Project Dragon has received crucial financial support in the UK from the Department for Transport Advanced Fuels Fund.”
“IAG has committed US$865 million in SAF purchases and investments to date, including supporting the first of its kind LanzaJet ethanol-to-jet plant being built in the US. With the right policy support to incentivise further investment, the UK could see many SAF plants built over the next decade, creating 6,500 jobs and saving over three million tonnes of CO2 per year as well as improving the UK’s energy security.”
“Delivering 10% SAF in 2030 requires a UK SAF industry at scale,” said Holly Boyd-Boland, VP Corporate Development at Virgin Atlantic. “Today’s award of the DFT’s Advanced Fuel Fund will take us a step closer to proving the technology works and attracting the private investment needed to finance these plants. Virgin Atlantic and LanzaTech have a long history of collaboration on SAF, and we look forward to continuing our efforts to produce, purchase and fly SAF from the UK.”
“We are delighted to be part of a project that has the potential to transform our local economy – and the entire aviation industry,” said Karen Jones, CEO of Neath Port Talbot Council. “The aviation sector urgently needs solutions and this a great example of how innovation across multiple sectors can support a domestic sustainable aviation industry, right here in Neath Port Talbot.”
The feedstock for the planned facility would be waste gases, including potentially from Tata Steel’s adjacent steelworks in Port Talbot. These would be transformed via LanzaTech’s gas fermentation platform to make ethanol as a feedstock for the ATJ facility. LanzaTech have selected Fluor Corporation, a leading global engineering, procurement, and construction (EPC) firm, to provide Front End Engineering and Design (FEED) services for this part of the project. “With more than 110 years in the industry, Fluor brings world class front-end engineering and EPC firm experience to assist LanzaTech in deploying its technology,” said Jason Kraynek, president, Production & Fuels, Fluor Corporation.
In a second step the ethanol would be turned into SAF using the LanzaJet™ Alcohol-to-Jet (ATJ) process, which incorporates Technip Energies ‘ethanol to ethylene' Hummingbird™ technology. This would be the world’s first commercial scale integration of Gas Fermentation (GF) and ATJ to produce SAF with GHG reductions expected to be greater than 70% relative to conventional jet fuel.
A spokesperson for Tata Steel in the UK said: “Achieving our ambition of making CO2 neutral steel involves looking at all ways to reduce our emissions, or in this case, potentially transforming some of our waste gases into useful products such as jet fuel.”
Bhaskar Patel, Technip Energies - SVP Sustainable Fuels, Chemicals and Circularity stated “We are excited to be partnering with LanzaTech™ through our teams in the UK on this journey to help decarbonise the UK aviation industry. The implementation of T.EN’s Hummingbird™ technology integrated within the LanzaJet™ ATJ process provides a ‘best in class’ technology pathway for conversion of ethanol to SAF”.
Jimmy Samartzis, CEO, LanzaJet said: “Project DRAGON will contribute roughly 10% of the entire UK Mandate for SAF by 2030. That’s significant, and government leadership like this is paving the way for emerging industries like SAF to achieve these ambitious and necessary goals. LanzaJet’s alcohol-to-jet technology paired with LanzaTech’s gas fermentation process is changing how we think about the circular economy across the world and driving decarbonization for aviation. We’re thrilled to be partnering with LanzaTech on this work and we’re grateful for this support from the UK Department for Transport.”
The Department for Transport’s Advanced Fuels Fund (AFF) Competition was established to support the UK advanced fuels sector in development and commercial deployment of innovative fuel production technologies that are capable of significantly reducing near-term UK aviation emissions, strengthening the UK project pipeline, and broadening technology options.
LanzaTech
Headquartered in Skokie, Ill., LanzaTech transforms waste carbon into materials such as sustainable fuels, fabrics, packaging, and other products. Using a variety of waste feedstocks, LanzaTech’s technology platform highlights a future where consumers are not dependent on virgin fossil feedstocks for everything in their daily lives. LanzaTech’s goal is to challenge and change the way the world uses carbon, enabling a new circular carbon economy where carbon is reused rather than wasted, skies and oceans are kept clean, and pollution becomes a thing of the past.
Forward-Looking Statements
This press release includes forward-looking statements regarding LanzaTech based on the beliefs and assumptions of its management. Although LanzaTech believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, LanzaTech cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. You should not put undue reliance on these statements, which speak only as of the date hereof. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
Media Contact - LanzaTech
Freya Burton, Chief Sustainability Officer This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Contact - LanzaTech
Omar El-Sharkawy
Director, Corporate Development This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Aluminium Fishing Boat Market By Boat Type, By Size, By Engine Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The aluminum fishing boat market is projected to garner $2,491.8 million in the 2021-2030 timeframe, growing from $1,362.5 million in 2021, at a healthy CAGR of 7.44%.
An increase in the number of recreational activities owing to several health benefits such as stress reduction, greater social bonding, self-fulfillment, thrills, and entertainment are boosting the market growth in the industry. The term 'fishing boat' refers to a pontoon or ship used to catch fish in the ocean, or a lake, among others.
Also, increasing tourism and government plans, along with increasing outdoor activities, have boosted the sale of new boats, which is driving the aluminum fishing boat market size.
The aluminum fishing boat industry is expected to be restrained by the availability of substitute products such as fiberglass boats and steel-based boats & ships. The fiberglass boat, for example, is easily cleaned and bendable. Additionally, in comparison to aluminum fishing boats, steel-based boats and ships are preferred in the oceans and sea. This is due to the fact that aluminum fishing boats corrode easily in saline environments like oceans and seas.
Aluminum fishing boats market demand is anticipated to boost rapidly owing to several initiatives implemented by the aluminum fishing boat manufacturers. For instance, on October 7, 2021, Lowe Boats, a boat manufacturer, unveiled a new boat series, the SS Pontoon and Bay Boat Series, with a fresh design and updated features.
The SS Pontoon Series has a striking new design with 16 different lengths and floor plan options, as well as a conversion lounge, L-shape lounge layout, and walk through, with lengths ranging from 17'10'' to 27'11'' and plenty of storage. It also has a luxury design with multiple color options and a new interior style with plush marine grade vinyl, quilted insets, and other features.
The Lowe SS Pontoon Series console is created with captain ergonomics in mind, with visibility on instruments, throttle, and steering wheel. This boat is powered by a Mercury Marine outboard engine, which is well-known for its reliability and performance. These aspects are anticipated to boost the aluminum fishing boat market trends in the upcoming years.
The COVID-19 pandemic had a devastating impact on aluminum fishing boat market globally. This is majorly owing to complete lockdown imposed across several countries and travel restrictions. Also, social distancing norms impacted the aluminum fishing boat market size which is majorly used for recreational activities such as water tourism and fishing. Due to travel restrictions, there had been drastic decline in aluminum fishing boat market demand which - negatively affected the market growth.
Key Market Segments
By Boat Type
By Size
By Engine Type
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/5jmb5k
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
--Deb Frodl and Sarah Sclarsic Transition off Board Effective December 31, 2022--
--Chris Hayes Elected as Chair Effective January 1, 2023--
WIXOM, Mich.--(BUSINESS WIRE)--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”; formerly known as XL Fleet), a leading owner and operator of distributed solar energy assets across the United States, today announced that Debora Frodl will be retiring, and Sarah Sclarsic will be stepping down, from the Company’s board of directors (the “Board”) effective December 31, 2022. Ms. Frodl is retiring after serving as a Company director since May 2018, and as Chair since December 2020. She has also served as chair of the Nomination and Governance Committee and as a member of the Audit Committee. Ms. Sclarsic, who has served on the board since December 2020 as a member of the Audit Committee, is departing to pursue opportunities through a climate technology venture capital firm that she co-founded in 2021.
“Deb has been a highly valued contributor to the Board and has driven the Company’s success,” said Eric Tech, Spruce Power’s chief executive officer. “Her strategic guidance, strong leadership, and high standard of excellence helped pivot our Company’s strategy, and now position Spruce as an emerging leader in rooftop residential solar. We are grateful for her dedication and commitment to the Company and wish her all the best as she embarks upon her next chapter.”
Tech continued, “We appreciate Sarah’s contributions and are confident she will find continued success as an early stage investor in companies that are creating a decarbonized global economy. Through her firm, Voyager Ventures, Sarah is making a difference in the world. We look forward to seeing many successful ventures from her in the years ahead.”
Simultaneous to Ms. Frodl’s retirement and Ms. Sclarsic’s resignation, the board has elected current director Chris Hayes as the new Chair, effective January 1, 2023. Mr. Hayes has served as a director of the Company since May 2018. Chris has more than twenty years’ experience in clean energy and sustainability and is founder and managing partner of Alturus, which invests in sustainable infrastructure projects. “I am enormously excited about Spruce Power becoming a high growth company in the distributed energy resources arena. We are positioned to be a leading provider of solutions to help homeowners create a cleaner and more sustainable future. The Company appreciates all the hard work from the team to transition the Company into a pure play distributed energy platform that maximizes investor value," said Mr. Hayes. “I am particularly grateful for the leadership contributions from Deb and Sarah over the years.”
More information can be found in the Corporate Governance on Spruce Power’s investor relations website at https://investors.sprucepower.com/governance/management/default.aspx.
About Spruce Power
Spruce Power is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners and small businesses to own and maintain rooftop solar and battery storage. Our as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company has more than 51,000 subscribers across the United States. For additional information, please visit www.sprucepower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to: expectations regarding the growth of the solar industry, home electrification, electric vehicles and distributed energy resources; the ability to successfully integrate the Spruce Power acquisition; the highly competitive nature of the Company’s business and markets; the ability to execute on and consummate business plans in anticipated time frames; litigation, complaints, warranty claims, product liability claims and/or adverse publicity; results of operations, financial condition, regulatory compliance and customer experience; the potential loss of customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; risks related to the rollout of the Company’s business and the timing of expected business milestones, including supply chain and labor shortage challenges in the solar panel markets; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 31, 2022, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.
Investor Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Renewable Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global renewable methanol market size reached US$ 3.16 Billion in 2021. Looking forward, the market is set to reach US$ 4.5 Billion by 2027, exhibiting a CAGR of 6.07% during 2021-2027
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Renewable methanol (CH3OH) is an organic compound produced from unconventional energy sources and renewable feedstocks. It is derived from sustainable biomass, such as industrial, agricultural, forest, and municipal waste, or synthesized using green hydrogen and carbon dioxide (CO2).
Renewable methanol is widely used in plastics for packaging, glues, adsorbents, diapers, paints, adhesives, solvents, and biodiesel production. Furthermore, it is an excellent industrial solvent and is widely used as a feedstock in the chemical industry to produce formaldehyde, dimethyl ether (DME), and methyl tertiary butyl ether (MTBE).
In comparison to conventional methanol, renewable methanol is an ultra-low carbon chemical with a high-octane rating that assists in mitigating various environmental concerns. As a result, it finds extensive applications across the chemical, transportation, power generation, and construction industries.
Renewable Methanol Market Trends:
Increasing environmental consciousness among the masses is one of the key factors driving the market growth. Renewable methanol helps in reducing emission levels of particulate matter and greenhouse gases (GHG), such as carbon dioxide, nitrous oxide, and sulfur dioxide.
Furthermore, rising product utilization as a gasoline additive and substitute due to high octane rating, knocking resistance, and oxygen content is acting as another growth-inducing factor.
Additionally, the introduction of microwave and non-thermal plasma and magnetic induction-based reactors for selective conversion of carbon dioxide to renewable methanol at minimum energy consumption and lower production costs is providing an impetus to market growth.
Moreover, the implementation of various government initiatives and international agreements to reduce pollution and achieve a climate-neutral world is creating a positive outlook for the market.
Other factors, including the increasing demand for formaldehyde production, shifting trends toward sustainable energy sources, and widespread compound utilization as marine fuel, are anticipated to drive the market growth.
Key Questions Answered in This Report:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Market Segmentation:
Breakup by Feedstock:
Breakup by Application:
Breakup by End Use Industry:
Breakup by Region:
For more information about this report visit https://www.researchandmarkets.com/r/f3omiq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Investment extends KKR and SK E&S’ ongoing relationship and advances SK E&S’ efforts as a clean energy solutions provider
SEOUL, South Korea--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced that KKR entered into an agreement with South Korean energy company, SK E&S to acquire SK E&S’ newly issued redeemable convertible preferred shares (“RCPS”).
The transaction marks KKR’s second investment in SK E&S through the purchase of newly issued RCPS, following an initial investment in November 2021, which has been used by SK E&S to accelerate its growth and transformation into a global clean energy solutions provider. According to SK E&S, SK E&S now looks to secure liquidity to de-lever as well as capture post-pandemic opportunities across energy and renewable assets.
Keith Kim, a Managing Director on KKR’s Infrastructure team, said, “We are pleased to extend our collaboration with SK E&S and support its mission-critical diversification into renewable energy solutions both within and outside of Korea. We are also excited to deepen our existing relationship with SK Group, and believe that this transaction is highly aligned with KKR’s broader strategy to create tailored solutions to support the corporate objectives of Korean enterprises.”
Established in 1999, SK E&S is a member of the SK Group, one of South Korea’s largest conglomerates. SK E&S engages in a range of businesses, including upstream interests such as overseas gas field development and downstream instreams such as power generation, district energy, and city gas. SK E&S today looks to advance its goal to accelerate its growth to become a leading global clean energy solution provider by focusing on hydrogen as well as renewable energy and related energy solutions.
KKR makes its investment from its Asia Pacific infrastructure strategy, which looks to support infrastructure assets and businesses with growth potential across developed and developing Asian markets, including South Korea, India, Philippines, Japan, Australia, New Zealand and China. The investment in SK E&S also marks KKR’s latest investment in South Korea and the renewables sector. Since 2011, KKR has deployed over US$15 billion in equity globally to invest in renewable assets, such as solar and wind, which have an operational power generation capacity of 23 GW, as of December 31, 2021. In Asia Pacific, KKR sees renewables as core to its infrastructure strategy and seeks to invest behind the significant opportunities across the region.
The transaction also marks KKR’s latest investment in South Korea, and builds on its track record as an active investor across asset classes including infrastructure, private equity, real estate and credit.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
KKR Media
Anita Davis
+852 3602 7335
This email address is being protected from spambots. You need JavaScript enabled to view it.
The Signature (for KKR Korea)
Nuri Hwang
+82 2 6951 3557
This email address is being protected from spambots. You need JavaScript enabled to view it.
Company increases active development with nearly 100 partners, including community solar projects across five major U.S. markets
SAN DIEGO--(BUSINESS WIRE)--Luminia accelerated commercial solar and storage adoption in a breakout year for the company by processing over $2.5 billion in financing requests across the U.S. for solar-plus-storage projects averaging over 1 MW, resulting in Development Agreements for almost 200 MWs of commercial solar projects, with an active development pipeline of an additional 600 MWs. This includes engaging with dozens of real estate portfolio owners, such as Gables Residential, representing nearly 900 million square feet of commercial, industrial, multifamily and hospitality properties.
In addition to expansions for its advanced technology platform for on-the-spot pricing proposals, instant property prequalification and portfolio analysis, Luminia also expanded its reach in community solar with key partners like New Hampshire Solar Garden.
“Our extensive background in renewable energy, commercial real estate and capital markets has given us a key advantage in delivering solutions that are uniquely suited to complex commercial markets,” said David Field, CEO and co-founder of Luminia. “By eliminating the financing barriers that once hindered commercial solar progress, we are experiencing explosive demand from our top rated solar partners, especially in the burgeoning community solar space.”
According to the Solar Energy Industry Association (SEIA), 41 states have deployed at least one community solar project, with an anticipated 5 GW of capacity to be added in the next five years. Luminia, which closed on 15 MW of community solar in Maine earlier this year, provides unique access to intermediate and long-term financing, driving down the cost of development for community solar and rooftop portfolio projects. With over 600 MW in the pipeline, the company is also developing community solar projects in five key markets, including Massachusetts, New York, Maine, New Hampshire and New Jersey. Projects vary in size and scope to meet individual state and municipal requirements with the pipeline of projects having an average system size of 9.5 MW.
In 2022, Luminia’s first-of-its-kind financing solutions catered to commercial property owners across 36 states with diverse needs. Luminia solutions scale from multifamily and industrial REIT portfolios to private education institutions to agricultural farms. Luminia allows property owners to gain access to a range of sustainability and asset value improvements, such as electric vehicle charging infrastructure, or water conservation improvements, without any out-of-pocket money down, or corporate or personal guarantees, like for this Sacramento farm.
Luminia continues to expand its suite of financial offerings catered specifically to large commercial portfolio owners. “Our team brings decades of experience as owners and lessors of tenant-occupied commercial real estate. Our REIT-friendly financing structures allow landlords to efficiently share the benefits of solar with their tenants, enabling both landlords and tenants to profitably accelerate solar adoption and meet their ESG objectives,” said Jim Kelly, co-founder of Luminia. “In addition, our strategic focus on community solar provides yet another option for our portfolio clients to monetize their rooftops.”
Luminia’s solution was also recently launched on Energy Toolbase’s ETB Developer platform, which now allows renewable energy developers to quickly access Power Purchase Agreement (PPA) quotes and additional financing options that match their customers’ needs directly within the ETB platform.
To learn how solar developers are utilizing Luminia financing to procure more business and how commercial property owners are achieving environmental, social, and governance (ESG) goals while increasing net operating income, visit luminia.io.
About Luminia
Founded in 2019, California-based Luminia provides unique financing and technology platform solutions that enable the deployment of commercial property sustainability improvements and community solar projects at scale. Through novel financing options and artificial intelligence-driven commercial real estate portfolio analysis, Luminia empowers commercial and industrial property owners to implement holistic clean energy and energy efficiency upgrades without barriers. Luminia partners with property owners, solar developers and portfolio managers to provide purpose-built solutions that offer the greatest potential economic benefit and advance a property’s ability to meet ESG requirements. For more information, visit luminia.io.
Christine Bennett for Luminia
This email address is being protected from spambots. You need JavaScript enabled to view it. | +1 925.330.4783
The European Commission selects Energy Dome, in the most competitive European funding scheme, as a game changer in the energy transition
MILAN--(BUSINESS WIRE)--Energy Dome, the company behind the CO2 Battery, a disruptive long-duration energy storage solution, today announced it has been awarded €17.5 million in funding from the European Innovation Council (EIC), the largest amount made available by the program.
The EIC Accelerator is Europe’s flagship funding program to identify, fund and scale-up breakthrough innovations in strategic areas, including energy storage. The investment will be made through the EIC Fund, a unique entity owned by the European Commission to make grants and direct equity investments in companies with promising cleantech solutions.
Energy Dome was selected through a highly competitive process from more than 1000 companies that submitted a full application.
“This strategic support by the European Commission will enable Energy Dome to accelerate the scale up of our business and the deployment of CO2 Batteries across global markets,” said Claudio Spadacini, Founder and CEO of Energy Dome.
Long-duration energy storage is the missing link to a fully decarbonized energy market, as it increases grid flexibility and enables the safe and efficient integration of renewables into global electrical grids. Currently, there is a significant technological gap in the market, for which the CO2 Battery is the perfect solution, by providing high-efficiency energy storage at a competitive cost and using readily available, off-the-shelf components that make this technology available to customers globally.
The EIC Fund joins other strategic investors, including Barclays, 360 Capital, CDP Venture Capital SGR and Novum Capital Partners, that have invested a total of $25 million in Energy Dome, fueling the Company’s growth in its mission to make the energy transition happen.
About Energy Dome
Energy Dome is revolutionizing energy storage and enabling grid decarbonization by making solar and wind power dispatchable 24/7. The company invented and developed the CO2 Battery, a Long-Duration Energy Storage system that makes Long Duration Energy Storage viable globally, today. The properties of carbon dioxide allow the system to store energy efficiently and cost-effectively, with a modular and site-independent footprint. CO2 Batteries use readily available, off-the-shelf components from reliable and existing supply chains, providing a pathway to store massive amounts of intermittent renewable energy and accelerate the energy transition. For more information, please visit www.energydome.com.
Media
Cassandra Sweet
Antenna for Energy Dome
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Today, Harvest Midstream (Harvest) announced an agreement with Phillips 66 to purchase the Belle Chasse Terminal, formerly the Alliance Refinery located in Plaquemines Parish, Louisiana. The acquisition is expected to close in the First Quarter of 2023.
In November of 2021, Phillips 66 announced the closure of the Alliance Refinery and the transition of this facility into a crude oil terminal. This facility sits on approximately 3,200 acres, has 1 million barrels of active storage capacity and two crude oil loading docks.
“Harvest has a long, successful record operating assets in Louisiana,” said Harvest CEO Jason Rebrook. “Today’s agreement with Philips 66 for the Belle Chasse Terminal is a continuation of our commitment to Louisiana and we look forward to incorporating the facility into our best-in-class service to our customers.”
With this acquisition, Harvest will extend the value chain around its existing regional crude pipeline systems. Additionally, Harvest will be able to expand its service offerings to producers and refinery customers through its Harvest Marketing & Trading affiliate.
Harvest Midstream:
Harvest Midstream is a privately held midstream service provider based in Houston, TX that operates various crude oil and natural gas gathering, storage, transportation, treatment and terminalling assets across the United States.
This email address is being protected from spambots. You need JavaScript enabled to view it.
PARIS--(BUSINESS WIRE)--Technip Energies (PARIS:TE) (ISIN:NL0014559478) has been awarded a contract(1) for the supply of proprietary cracking furnaces for the 2,000 kta(2) ethane cracker for the Golden Triangle Polymers project, a joint venture between Chevron Phillips Chemical (CPChem) and QatarEnergy, along the Gulf Coast in Orange, Texas.
This latest award is in line with our early engagement strategy with CPChem and QatarEnergy, which resulted in the selection of our proprietary ethylene technology and includes the successful completion of the ethylene license and Process Design Package (PDP).
The modularized cracking furnaces will feature seven of the largest capacity furnaces that Technip Energies has ever designed. The cracker is designed using modern emissions reduction technology and processes that result in lower greenhouse gas emissions than similar facilities in the United States and Europe.
Bhaskar Patel, SVP Sustainable Fuels, Chemicals and Circularity of Technip Energies, commented: “We are very pleased that CPChem and QatarEnergy selected our cracker technology and design for this mega-cracker project. Utilizing our extensive experience with ethylene cracker design and our latest advancements to reduce emissions will contribute to their efforts to help enable a lower carbon future. We thank CPChem for its continued confidence in T.EN’s cracking technology, having previously incorporated the technology at other facilities.”
(1) This contract award is representing over €250 million of revenue for Technip Energies.
(2) kta: kilotons per annum.
To know more about Ethylene: Technip Energies is a world leader in the ethylene industry with about 50 percent of the licensing market share. We have unique experience in the design, construction and modernization of the largest ethylene plants using proprietary technologies.
For more information, please go to https://www.technipenergies.com/markets/ethylene.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States. For further information: www.technipenergies.com.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
Investor relations
Phil Lindsay
Vice-President Investor Relations
+44 20 7585 5051
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media relations
Stella Fumey
Director Press Relations & Digital Communications
+33 (1) 85 67 40 95
This email address is being protected from spambots. You need JavaScript enabled to view it.
Jason Hyonne
Press Relations & Social Media Lead
+33 1 47 78 22 89
This email address is being protected from spambots. You need JavaScript enabled to view it.
BOSTON--(BUSINESS WIRE)--As the Northeast faces unprecedented uncertainty and challenges in the energy market, Global Partners LP has donated $2 million to provide heating oil for those in need. The donation was directed to seven states in the Northeast and distributed to local nonprofit entities serving low-income households.
“Global has an annual and long-standing program of making heating oil donations to local housing authorities and other nonprofit partners in more than 15 communities where Global has terminals. This year, recognizing additional need in the community, we expanded the program into a multimillion dollar support effort,” said Eric Slifka, President and CEO of Global Partners.
In the winter of 2020-2021, about 5.3 million U.S. households relied on heating oil; 82% of those were located in the Northeast. Supply is tight due to international conditions, including, but not limited to, the war in Ukraine. This has made the region more reliant on overseas imports, some of which come from Europe and which have shrunk due to a decrease in Russian gas supply and increase in European heating oil demand.
Response from Governors:
Governor Charlie Baker, Massachusetts
“As many Northeast residents experience significant increases in winter heating costs, we have worked with our partners at utilities and in the private sector to ensure customers are being well served. We appreciate Global Partners for doing their part to help support thousands of families across the New England and New York this winter.”
Governor Chris Sununu, New Hampshire
“I would like to thank Global Partners for making this donation in New Hampshire and across the Northeast at a critical time for home heating costs. These funds will complement the robust efforts we’ve made at the state level to expand eligibility for heating assistance and will benefit families across the state.”
Governor Phil Scott, Vermont
“Due to inflation, we know Vermonters are struggling with increased costs across the board, including home heating fuel, so it’s critical we all do our part to ease the burden. I appreciate Global Partners’ donation and commitment to supporting those in need.”
Global officials believe that, even with supply constraints, there is enough supply in the market to serve the historical Northeast demand throughout the winter. The company has reached out to officials to share recommendations on how government, utilities and the private sector can get through this period.
“This year, we are facing the highest energy prices we have perhaps ever faced, including prices for home heating oil,” said Joe Diamond, Executive Director, Massachusetts Association for Community Action. “This is a crisis that can only be met through a joint effort, a collaboration of government, nonprofits and the private sector. Global’s donation will be instrumental in allowing our dedicated fuel assistance teams to target and deploy public and private resources to meet the emergency needs of households across the state during what is turning out to be a very tough New England winter. We are grateful for Global’s leadership and generosity.”
Global Partners, founded in the heart of New England in 1933, began as one truck delivering home heating oil to ensure families stayed warm throughout the winter. Today, Global is one of the Northeast’s largest suppliers of liquid energy, powering businesses and getting people where they need to go.
About Global Partners LP
Global Partners delivers the energy, goods and services that make life better. With an extensive network of terminals, gas stations and convenience markets, Global helps people heat their homes, operate their businesses and get where they’re going conveniently and quickly. Centered in the Northeast, the company is a third-generation, family-founded business with operations throughout the U.S. Global is committed to strategic growth and to supporting the communities where it works. Learn more at www.globalp.com.
Catie Kerns, SVP of Corporate Affairs and Sustainability, This email address is being protected from spambots. You need JavaScript enabled to view it., 541-519-8806
The company has reached 20% fleet electrification, prioritizes placing new fully electric trucks in the most polluted areas
SAN DIEGO--(BUSINESS WIRE)--To advance its own and California’s goals to reach net zero emissions by 2045, San Diego Gas & Electric (SDG&E) has electrified more than 20% of its over-the-road fleet and is on track to reach 100% electrification of its passenger cars, pickup trucks and sport utility vehicles by 2030. This puts SDG&E well on its way to achieve its goal of operating a fully zero-emissions fleet by 2035, ahead of state mandates.
The latest additions to SDG&E’s fleet include eight fully electric, Ford F-150 Lightning trucks and a zero-emissions hydrogen fuel cell car. SDG&E’s fleet also consists of plug-in and non-plug-in hybrids and vehicles with idle mitigation technologies.
“Our service trucks are out in our community daily, doing everything from routine appliance checks to equipment repairs, to keep energy flowing safely and reliably to our customers,” said SDG&E Vice President of Operations Support Jennifer Jett. “Our goal is for our fleet vehicles to leave no trace of pollution behind.“
SDG&E is aggressively decarbonizing its fleet because transportation accounts for about 40% of California’s greenhouse gas emissions, making it the state’s single largest source of pollution. Additionally, transportation-related emissions heavily impact low-income communities located near busy roadways and industrial facilities.
In response, SDG&E has developed a new analytical tool called the Community Impact Platform to prioritize vehicle replacements in neighborhoods hit hardest by air pollution and climate change. The innovative technology overlays more than 80 million data points from its fleet’s daily trips with socioeconomic metrics to create a heat map of emissions in the region’s most vulnerable communities. Using advanced analytics, the platform can present various scenarios for replacing vehicles to reduce emissions and improve air quality. For example, half of the company’s eight recently acquired Ford Lightning trucks have been deployed to the Metro District, which covers homes and businesses adjacent to regional transportation hubs like the airport, port and downtown. In addition to upgrading its fleet, SDG&E also tracks operating data to reduce idling and improve vehicle safety, and continuously reviews new technologies.
SDG&E is also working to transform transportation beyond its own fleet. To date, it has installed more than 3,400 charging ports and is building thousands more to support medium- and heavy-duty vehicles and equipment. Under its Power Your Drive for Fleets program, SDG&E enables fleet owners and operators to switch to electric by connecting them with resources, charging rates and financial incentives to design and install the charging infrastructure needed to reduce costs, eliminate emissions and simplify vehicle maintenance.
SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing energy infrastructure; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter (@SDGE), Instagram (@SDGE) and Facebook.
Helen Gao
877-866-2066
This email address is being protected from spambots. You need JavaScript enabled to view it.
Twitter: @sdge
DUBLIN--(BUSINESS WIRE)--The "C-Type LNG Carrier Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Application and Geography" report has been added to ResearchAndMarkets.com's offering.
The C-type LNG carrier market size was valued at US$ 6,469.02 million by 2028 from US$ 3,920.84 million in 2021. It is expected to grow at a CAGR of 7.5% during 2022-2028.
The surging demand for natural gases by residential, industrial, and commercial sectors, mainly from the developing economies, and the growing usage of LNG carriers for a wide range of end-use applications, such as defense and transport, are among the major factors boosting the growth of the C-Type LNG carrier market.
Furthermore, the demand for LNG has led to huge investments in infrastructure, production, and the international development of distribution networks, fueling the demand for LNG shipping. LNG export terminals across the globe are growing in number due to the rising demand for natural gas. Thus, the amount of LNG transported by ships and the number of vessels fueled by LNG are expected to boost the demand for C-Type LNG carriers in the next few years.
C-Type LNG carriers are widely adopted in the oil & gas industry. Refined natural gas, such as methane, is transported by pipeline to population centers for industrial, commercial, and residential use, which is first processed at oil and gas facilities for refinement.
Further, the rising demand for oil and gas has led to deeper drilling, with many drilling rigs located further offshore, which has increased the need for LNG carriers for storage. LNG shipping to different locations is done through pipelines, oil tankers, railroads, etc. Pipelines play a crucial role in transportation as a larger amount of the oil moves through pipelines for at least some part of the route.
In addition, the agreement between the US and the European Union (EU) on the additional supply of liquefied natural gas (LNG) will contribute to the global market. Under the deal, Europe will receive at least 15 billion cubic meters of additional LNG shipments by 2022.
In addition, the US Commission is working with EU countries to ship 50 billion cubic meters of additional materials by 2030. Hence, inter-regional trade is on the rise, which is expected to provide lucrative opportunities for C-Type LNG carrier market vendors over the forecast period. Further, government authorities across the globe are continuously focusing on increasing private sector participation as a part of their strategy to manage their country's petroleum resources.
For example, the Ministry of Petroleum and Natural Gas, India, and the Government of Trinidad and Tobago have taken initiatives to monetize their petroleum resources. The petrochemical sector makes substantial use of LNG pressure carriers or vessels, reactors, and heat exchangers to transform petroleum and other fossil fuels into chemical products such as ethylene and propylene.
The C-Type LNG carrier market is mainly dominated by players such as Komarine Co.; Torgy LNG; Gas Entec Co., Ltd.; China Shipbuilding Trading Co. Ltd.; and Knutsen OAS Shipping. Further, these players engage in expanding their business through activities such as new product launches, market initiatives, investment in technology upgrades, mergers & acquisitions, and other joint activities.
For instance, in 2022, China Shipbuilding Trading Co., Ltd. (CSTC) and Jiangnan Shipyard (Group) Co., Ltd. - two subsidiaries of China State Shipbuilding Corporation Limited (CSSC) - signed newbuilding contracts for three units of 175000 cubic meter LNG carriers with ADNOC L&S, which is the second series order of 175000 cbm LNG carrier in short term.
Market players are implementing various strategies to expand their regional footprints. For example, Knutsen OAS ordered three additional LNG carriers from Hyundai Samho Heavy Industries to expand its marine business.
COVID-19 Impact on C-Type LNG Carrier Market Size
The North America, the COVID-19 pandemic impacted LNG investment and near- and longer-term fundamentals. For example, in the US market, there has been surged in importance over the past decade because of the shale boom. COVID-19 has made delays in construction and liquefaction projects which has impacted the production of LNG carriers, and LNG projects could be an attractive option for cutting costs.
The growing demand for C-Type LNG carriers from the rapidly expanding economies of Asia Pacific is expected to be a key driving force in producing momentum for a worldwide economic recovery from the effects of the COVID-19 pandemic. Along with China, India is expected to lead Asia's LNG regasification capacity additions in the next few years, accounting for 60.0% of the region's total between 2020 and 2024.
As economies started to reopen after the restrictions related to COVID-19 were eased, the LNG demand in the Asia market may return to the 2018 level. In addition, shipyards in China and South Korea could not accommodate the demand for new LNG vessels as they worked to meet a flood of orders for new container ships following global supply chain disruptions and port congestions that held up ships in the US and China during the pandemic.
Companies profiled in the C-Type LNG Carrier market study include Koarine Co.; Torgy LNG; Gas Entec Co., Ltd.; China Shipbuilding Trading Co. Ltd; Knutsen OAS Shipping; TGE Marine Engineering GmbH; Hyundai Samho Heavy Industries Co., Ltd; Mitsubishi Heavy Industries, Ltd; DSME Co., Ltd; and Gaslog Ltd.
C-Type LNG Carrier market players are following both organic and inorganic growth strategies to sustain the competitive edge. For instance, Daewoo Shipbuilding & Marine Engineering Co. (DSME) has received KRW 1.07 trillion (US$ 850 million) to build four liquefied natural gas (LNG) carriers as a part of a deal with a Qatar state oil firm, which will be done by 2025. Such initiatives by key players will contribute to the C-Type LNG carrier market growth during the forecast period.
Key Market Dynamics
Market Drivers
Key Market Restraints
Key Market Opportunities
Trends
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/1brkrg
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HO CHI MINH CITY, Vietnam--(BUSINESS WIRE)--#SEKOLogistics--SEKO Logistics (SEKO), a leading global logistics provider, today announced the opening of the new headquarters of SEKO Vietnam in Ho Chi Minh City along with facilities and staff in key markets across the country. This marks SEKO’s first official presence in Vietnam’s largest city and comes as SEKO looks to prioritize investments in the region following Vietnam’s strong economic growth in recent years. SEKO recently expanded into Vietnam via the acquisition of Bansard in 2021, and these additional investments in 2022 are in response to the significant growth and demand for transportation and logistics services in this growing strategic market.
In addition to the new office in Ho Chi Minh City, SEKO manages logistics services across the country via two additional strategically-important locations – Vietnam’s capital Hanoi and the coastal city of Da Nang. From this network, SEKO offers its clients a market-leading logistics network incorporating:
“This new office represents our long-term investment in a country where the high availability of suppliers and proficient manufacturing is driving international orders and growth. With the Vietnamese government’s intention to increase the country’s logistics capacity over the next decade, this is the right time to make this commitment not only for our growth, but for the success of our clients, as well,” said Anthony Barnes, President – Asia Pacific at SEKO Logistics.
Despite the global pandemic, Vietnam’s GDP is on target to grow 8% by year-end, driven by the country’s positive response to managing coronavirus, which increased its attractiveness to the global business community. Foreign trade is expected to surpass a record $780 billion, and foreign direct investment continues to rise after reaching $31 billion in 2021. Vietnamese manufacturers in the garments and textiles, machinery and equipment, and spare parts industries were especially quick to react to the ‘new normal’ and ensured stable production, which helped many key industries grow by more than 10% last year. Already in the world’s top 20 economies in international trade, Vietnam also expects to see export growth forecasting at about 9.5% by the end of 2022.
With Vietnam’s rising manufacturing output, attractive labor costs and strong economic growth, SEKO is already seeing growth in its share of fashion, apparel, footwear, high-tech and automotive exports to Europe, North America and Japan.
To learn more about SEKO’s operations in Vietnam, and how you SEKO can help you deliver goods worldwide, visit www.sekologistics.com.
About SEKO Logistics
Built on nearly 50 years of logistics expertise, SEKO Logistics is the no-nonsense global end-to-end logistics partner – from factory to consumer. SEKO delivers sustainable client-first service, expert reliability and technology driven shipping solutions that turn customers’ supply chains into a competitive advantage. With over 150 offices in more than 40 countries, SEKO helps you move at the speed of global commerce. Learn more at www.sekologistics.com.
SEKO Vietnam Media Contact:
Jasmine Wall
This email address is being protected from spambots. You need JavaScript enabled to view it.
+852 6486 5899
SEKO Global Media Contact:
Frances Fyten
This email address is being protected from spambots. You need JavaScript enabled to view it.
(+1) 651-274-5708
Enrollments to Save Customers Money, Help Manage Demand on Grid
BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced a record holiday sales season for its Marketplace solution, driving a new yearly revenue record for this solution and cementing the company’s place as the premier provider of utility marketplaces. With Marketplace, energy utilities can better engage and activate their customers, enrolling them in critical programs at the point of purchase in order to accelerate progress toward greater load flexibility, demand management and decarbonization goals.
Uplight's Marketplace is more than just an e-commerce platform––it also drives utility customers to energy- and money-saving programs by bundling instant rebates and program enrollments with a frictionless customer experience. By leveraging a key purchasing period over Black Friday, Cyber Monday and the broader holiday shopping season, Uplight drives significant uptake of money and energy-saving devices. Beyond typical deals that consumers have come to expect during this time, utility marketplaces run by Uplight get unique, added benefits of additional rebates at the point of purchase, as well as seamless enrollment into money-saving programs. All these offers are great for shoppers, and are also great for utilities who are able to grow programs when consumers are buying and are most receptive to special offers.
Typically, more than 60% of eligible customers purchasing a smart thermostat through an Uplight utility Marketplace enroll in demand response programs. This season, a combination of enrollment at point of sale, as well as through bring-your-own-device programs, drove more than five times the number of original equipment manufacturer (OEM) enrollments versus other times of the year.
“While the holiday season is always an important driver of energy-efficient product sales for utilities, this year it is even more critical to enroll customers in demand response programs given record-high energy costs. This is our most important window to prepare for next summer’s inevitable heat waves, where enrolled thermostats and other devices purchased during Black Friday and Cyber Monday sales can be put to work,” said David Schoenberg, Chief Delivery and Operations Officer. “Our Uplight team is passionate that saving money, conserving energy and better balancing the grid don’t have to be conflicting priorities. Our Marketplace is the best way for utilities to deliver on all three for their customers, and our record performance driving program enrollments shows that customers are ready and waiting for utilities to engage with them.”
As the premier marketplace partner for utilities, Uplight’s Marketplace has an industry-leading Net Promoter Score (NPS) of 70, an impressive mark highlighting a world-class customer experience. To continue delivering the experience consumers have come to expect, the company regularly refines its Marketplace offering. This year, Uplight added in a new compatibility check feature to help customers select the best smart thermostat for their home before checking out, reducing the rate of returns.
As part of its ongoing commitment to building an inclusive and equitable energy community as a Certified B Corporation, Uplight has partnered with utilities to launch Offer Centers to give away free energy-saving products to income-eligible customers. One of the company’s fastest growing Marketplace solution areas, this season Offer Centers gave away nearly 3,000 window film kits, more than 3,000 6-packs of energy efficient LED light bulbs and hundreds of smart thermostats.
To learn more about Uplight Marketplaces, please visit https://uplight.com/solutions/marketplace/.
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
Liam Sullivan
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Anaerobic Membrane Bioreactors, Biogas Purification and Carbon Capture & Mineralization" report has been added to ResearchAndMarkets.com's offering.
This edition of the Industrial Bioprocessing TOE features information on the use of anaerobic membrane bioreactors for high contaminant removal and biogas production from industrial wastewater.
The TOE covers innovations based on the use of mechanically assisted chemical exfoliation technology for embedding the captured carbon to form concrete additives used in the construction industry.
The other focal point of the TOE is the use of mineral carbonation technologies to permanently sequester captured carbon dioxide in building materials. The TOE additionally provides insights on the utilization of cost effective and scalable cell culture media for the production of non-animal based meat products.
The TOE also provides latest innovations in the production of bio-fuels from mixed food waste, animal waste and non-edible wastes, the generation of algal based bio-products using a patented magnetic harvesting technology, use of gene editing techniques to enhance herbicide resistance in crops and the use of blockchain based carbon credit platforms to provide eco-friendly farm management solutions.
The Industrial Bioprocessing TOE provides intelligence on technologies, processes and strategic insights of industries involving bioprocessing, including innovations in the development and production of chemicals, pharmaceuticals, nutraceuticals, alternative fuels, chemical feedstocks, food and beverages, and consumer products.
Companies Mentioned
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/3e3hyw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Mel's Heater Service, LLC to a Private Investor. The acquisition closed April 29, 2022.
Located in Intercourse, Pennsylvania, Mel’s Heater Service (MHS) offers sales, installation, and service of waste oil furnaces as well as heaters. Specifically, MHS’ product line includes waste oil furnaces, waste oil boilers, gas boilers, radiant floor heat systems, macro-air fans, and other complementary products. To support operations, the Company is an authorized dealer for the leading industry manufacturer EnergyLogic. Overall, the Company is well known in the regional market, and has an excellent reputation for the breadth of products offered, customer service, technical knowledge, and the timely delivery of products.
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, Senior M&A Advisor, James Nelson, with the support of Managing Director, M&A, Corey Painter successfully closed the deal. Senior Managing Director, Thomas Hamm established the initial relationship with MHS.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 300 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
Carl Doerksen
972-342-0968
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Waste to Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global waste to energy market reached a value of US$ 38.87 Billion in 2021. Looking forward, the market is set to reach a value of US$ 56.49 Billion by 2027, exhibiting a CAGR of 6.43% during 2021-2027
Waste to energy (WSE) refers to the process of converting non-recyclable waste materials into usable heat, fuel, or electricity through processes, such as combustion, gasification, devolatilization, anaerobic digestion, and landfill gas recovery. It relies on different systems or technologies for producing electricity by burning unprocessed municipal solid waste in an incinerator with a boiler and a generator.
At present, it is considered a critical component of the waste management system as WSE helps mitigate climate change, reduce greenhouse gases (GHG), and minimize environmental impact and health damages.
Waste to Energy Market Trends:
At present, landfill waste represents a global environmental concern as it causes fires or explosions, contaminates soil and water, and leads to climate change, toxins, leachate, and GHG emissions.
This, in confluence with the increasing industrial waste generation every year, represents one of the key factors driving the need for WSE technologies as a sustainable alternative to landfills for waste disposal. These technologies also assist in avoiding methane from landfills, recovering metals for recycling, and offsetting emissions from fossil fuel electrical production.
Apart from this, rapid industrialization, rising population, growing urbanization, and the economic expansion of developing countries are resulting in accelerating rates of municipal solid waste (MSW) production.
As a result, governing agencies of numerous countries are undertaking several steps and incorporating WSE technologies to manage the accumulation of MSW and generate energy from its combustion for residential and commercial uses.
Furthermore, the launch of new technologies like hydrothermal carbonization (HTC), which fast-tracks the slow process of geothermal conversion of wet waste with an acid catalyst at high pressure, is anticipated to create a favorable market outlook.
Key Questions Answered in This Report:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Market Segmentation:
Breakup by Technology:
Breakup by Waste Type:
Breakup by Region:
For more information about this report visit https://www.researchandmarkets.com/r/hq6z0n
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
The Microturbine Will Provide Low Emission Electrical and Thermal Energy for the State-of-the-Art Plant
LOS ANGELES--(BUSINESS WIRE)--$CGRN #CleanPower--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that Laibach d.o.o, Capstone's exclusive Distribution partner for Slovenia, Croatia, and Serbia, has secured an order for a Capstone C600 Signature Series microturbine system from Pomurske Mlekarne, a leading premium producer of dairy products. The 600kW system is expected to be commissioned in Spring 2023 at its Murska Sobota facility.
"The past year, through the ongoing effects of the Covid-19 pandemic and the war in Ukraine, has demonstrated the global interconnections of our food production and agricultural industries. With forward-thinking partners like Laibach and Pomurske Mlekarne, food production can be more energy efficient and help move countries and sectors closer to their carbon emissions targets," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "This recent order is another example of demand for our products and services from the commercial and industrial sector worldwide as companies seek to balance reliability, efficiency, and affordability. I appreciate our distributor's focus on educating and engaging these customers in Slovenia."
The project marks the first microturbine order from Pomurske Mlekarne and demonstrates the confidence that the customer has in Capstone’s product reliability and high availability. The C600S microturbine is part of a major modernization project that includes a state-of-the-art steam system. "We are happy to increase economy and efficiency at Pomurske Mlekarne, a company offering highly awarded dairy products, not only locally, but also exporting to Hong Kong, Macedonia and others," said Miro Murn, Director of Laibach.
Utilizing the heat by-product from a microturbine will allow operators to reduce emissions and offers cost savings by eliminating the need to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produces power at 33% efficiency, Capstone’s combined heat and power (CHP) systems can reach efficiencies of more than 80%.
Another key factor in the equipment selection process was Capstone’s industry-leading comprehensive Factory Protection Plan (FPP) long-term service contract. The Capstone FPP provides customers’ needs to ensure the smooth operation of its system at a fixed cost over several years.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's target for growth of its rental fleet and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the sufficiency of the Company's working capital to meet its rental fleet growth target; the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances, or future events, or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
This email address is being protected from spambots. You need JavaScript enabled to view it.
BETHESDA, Md.--(BUSINESS WIRE)--Enviva Inc. (NYSE: EVA) (“Enviva,” “our,” “we,” or the “Company”) today announced the signing of a new 10-year take-or-pay off-take fuel supply contract with an existing European customer, extendable for up to five years. Enviva expects to supply 800,000 metric tons of industrial-grade wood pellets per year, with deliveries expected to commence during 2027, subject to certain conditions precedent.
“We are pleased to announce a sizeable contract today with one of our power generation customers in Europe. The magnitude of market opportunities with high-quality counterparties across a range of use cases, from renewable energy generation to displacement of fossil fuel-based carbon in hard-to-abate industries, continues to drive a strong pace of contracting for us,” said Thomas Meth, President and Chief Executive Officer. “Deliveries under this new contract are expected to begin in about four years, which underscores how serious our European counterparties are in shoring up renewable energy feedstock from secure, sustainable, and trusted sources. We have built solid, long-standing relationships with our customers, who understand our ESG-based business and value the quality, dependability, and sustainability of the products we’re delivering worldwide.”
Terms and conditions related to this new contract reflect the strong pricing environment for woody biomass and are generally in line with other recently executed long-term contracts. Enviva’s contracting environment continues to demonstrate the favorable pricing dynamic of a structurally short market with limited large-scale alternatives for renewable baseload, and dispatchable, power and heat generation, and even fewer substitutes for hard-to-abate sectors.
Enviva’s total weighted-average remaining term of take-or-pay off-take contracts is approximately 14 years, with a total contracted revenue backlog of now over $23 billion. This contracted revenue backlog is complemented by a customer sales pipeline exceeding $50 billion, which includes contracts in various stages of negotiation.
About Enviva
Enviva is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith include “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 present or historical fact included herein, including those regarding the anticipated deliveries and terms under this contract and Enviva’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva. These risks include, but are not limited to: the volume and quality of products that we are able to produce or source and sell, which could be adversely affected by, among other things, operating or technical difficulties at our wood pellet production plants or deep-water marine terminals; the prices at which we are able to sell our products; the creditworthiness of our contract counterparties; the amount of low-cost wood fiber that we are able to procure and process, which could be adversely affected by, among other things, disruptions in supply or operating or financial difficulties suffered by our suppliers; changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, the international shipping industry, or power, heat, or combined heat and power generators; changes in leadership plans and strategies; overall domestic and global political and economic conditions; and other factors, as described in Enviva’s filings with the Securities and Exchange Commission (the “SEC”), including the detailed factors discussed under the heading “Risk Factors” in Enviva’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as supplemented in the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, June 30, and September 30, 2022.
Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Enviva’s expectations and projections can be found in Enviva’s periodic filings with the SEC. Enviva’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
INVESTOR CONTACT:
Kate Walsh
Vice President, Investor Relations
+1 240-482-3856
This email address is being protected from spambots. You need JavaScript enabled to view it.
NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today published its updated Sustainability Report. As a follow-up to its inaugural report published in 2021, this latest edition details the Company’s progress on its Environmental, Social and Governance (ESG) journey along with recent highlights on how its sustainability efforts are having a positive impact on the environment, its customers and the communities that it serves. The report is available at www.cleanharbors.com/about-us/sustainability.
“As North America’s leader in environmental services, sustainability has been a part of our DNA since Clean Harbors’ founding in 1980,” said Alan S. McKim, Chairman and CEO. “Protecting the environment is central to our Company’s identity. That’s why sustainable business practices are not only ingrained in our organization but are helping to shape our culture and continuing to drive our purpose more than four decades later.”
In addition to updating investors and customers on its progress toward the 2030 goals it established in its inaugural report, highlights from this year’s report in each key area include:
Environmental
Social
Governance
McKim concluded, “One of our underlying objectives as a company is to create a positive long-term legacy through sustainability. We don’t view ESG as a set of metrics we simply need to comply with, but as an opportunity to demonstrate the difference our Company makes in the work we do and the critical services we provide to our more than 300,000 customers.”
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.
Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans to,” “seeks,” “should,” “estimates,” “projects,” “may,” “likely,” or similar expressions. Such statements may include, but are not limited to, statements about the Company’s ESG plans and goals, and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors’ management as of this date only and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, without limitation, those items identified as “Risk Factors” in Clean Harbors’ most recently filed Form 10-K and Form 10-Q. Forward-looking statements are neither historical facts nor assurances of future performance. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the “Investors” section of Clean Harbors’ website at www.cleanharbors.com.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
This email address is being protected from spambots. You need JavaScript enabled to view it.
Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.