DUBLIN--(BUSINESS WIRE)--The "Battery Management System Market - Global Industry Analysis (2019 - 2021), Growth Trends, and Market Forecast (2022 - 2029)" report has been added to ResearchAndMarkets.com's offering.
The rapid expansion of e-mobility, and renewables sector are collectively underpinning the strong growth outlook of battery management system market. With green energy spreading its roots faster, demand for battery management systems will see an incessant rise.
The study has estimated the global battery management system market size to reach US$28.4 Bn in 2029, up from the revenue of US$4.6 Bn recorded in the year 2019. While report has considered 2022 - 2029 as the period of assessment, it forecasts a stellar 19.8% CAGR for the battery management system market.
While the report points to a continuous stream of revenue generation opportunities with the rocketing sales of electric and hybrid electric vehicles, the report also marks a growing trend of demand surge in chargeable batteries, which would provide a strong tailwind to battery management system sales.
Key Research Insights and Trends Across Battery Management System Market
Li-ion Battery Top Demand Generator, Modular Topology Likely to Emerge Profitable in Battery Management System Market
The market analysis by battery type shows clear dominance of lithium-ion battery segment on the back of widespread adoption of Li-ion batteries across multiple industries. Automotive, and consumer electronics are expected to remain the key segments consuming Li-ion batteries that further generate unwavering demand for battery management systems. The lithium-ion battery segment accounts for more than 41% revenue share in the battery management system market, says the report.
Furthermore, based on application, automotive battery management systems retain the lead against the battery management systems employed by the other key segments, including consumer electronics, energy storage, military and defense, healthcare, renewable energy, and telecommunication. The report indicates attractive business opportunities arising in power generation, and communication industries, after automotive over the next few years. On the other hand, analysis of the battery management system market in terms of topology reveals the top position of distributed topology segment that currently captures over 50% market value share. Centralized topology segment follows, whereas the modular topology segment will most likely emerge lucrative in the near term as it gains traction across industries like electric cars, commercial drones, energy storage systems, and medical mobility vehicles.
Developed Western Markets Surge Ahead in Battery Management System Market, Asia Pacific Reflects Higher Growth Potential
North America's pre-eminence in global battery management system market is likely to prevail throughout the period of projection. The report says the region benefits largely from the strong foothold of some of the top battery management system makers in the world, as well as the rapidly flourishing SME sector. North America currently accounts for nearly 30% revenue share in the market and will maintain the same through the end of forecast year. The region has been projected to display more than 19% growth during 2022 - 2029. The rocketing electric and hybrid electric vehicle sales will remain a major contributor toward the growth of North America's battery management system market, says the report.
Europe also is poised to be a key market and currently accounts for a collective market share of more than 55% along with North America. The report spots ample opportunity in Asia Pacific as well, as the region currently accounts for over 25% share in the overall market valuation. The global hub for automotive, and consumer electronics manufacturing, Asia Pacific is all set to reflect high growth potential and demonstrate the fastest rate of growth during the projection period.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Global Battery Management System Market Outlook, 2019 - 2029
3.1. Global Battery Management System Market Outlook, by Battery (US$ '000), 2019 - 2029
3.1.1. Key Highlights
3.1.1.1. Lithium-ion
3.1.1.2. Advanced Lead-acid
3.1.1.3. Others
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Battery Management System Market Outlook, by End user, Value (US$ '000), 2019 - 2029
3.2.1. Key Highlights
3.2.1.1. Automotive & Transportation
3.2.1.2. Military & Defense
3.2.1.3. Energy & Utility
3.2.1.4. Healthcare
3.2.1.5. Consumer Electronics
3.2.1.6. Telecommunications
3.2.1.7. Others (Industrial, Marine, etc.)
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Battery Management System Market Outlook, by Topology, Value (US$ '000), 2019 - 2029
3.3.1. Key Highlights
3.3.1.1. Centralized
3.3.1.2. Distributed
3.3.1.3. Modular
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Battery Management System Market Outlook, by Application, Value (US$ '000), 2019 - 2029
3.4.1. Key Highlights
3.4.1.1. Electric Vehicles
3.4.1.2. Computing Devices
3.4.1.3. Renewable Energy Systems
3.4.1.4. UPS (Uninterrupted Power Supply)
3.4.1.5. Industrial Systems
3.4.1.6. Others (Personal Mobility Instruments, Robotic Boats & ROVs, etc.)
3.4.2. BPS Analysis/Market Attractiveness Analysis
3.5. Global Battery Management System Market Outlook, by Region, Value (US$ '000), 2019 - 2029
4. North America Battery Management System Market Outlook, 2019 - 2029
5. Europe Battery Management System Market Outlook, 2019 - 2029
6. Asia Pacific Battery Management System Market Outlook, 2019 - 2029
7. Latin America Battery Management System Market Outlook, 2019 - 2029
8. Middle East & Africa Battery Management System Market Outlook, 2019 - 2029
9. Competitive Landscape
10. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/k6mcpj
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THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) announced today that its floating storage and regasification unit (“FSRU”), the Exemplar, arrived at the port of Inkoo, Finland on December 28, 2022. The FSRU was previously loaded with a partial cargo of liquefied natural gas (LNG) which will serve as the initial commissioning cargo for the terminal. The FSRU Exemplar, which is chartered to Gasgrid Finland Oy (“Gasgrid”) for a period of ten years, will provide flexible, reliable, and secure delivery of regasified LNG to Finland and other Baltic countries.
“The arrival of the FSRU Exemplar at the port of Inkoo represents an important milestone for Finland as it prepares to enhance its energy security and bring essential energy infrastructure to the region,” said Steven Kobos, President and CEO of Excelerate. “This is a tremendous accomplishment for everyone involved, and we are proud to have partnered with Gasgrid on this opportunity.”
In addition to providing regasification services under the Time Charter with Gasgrid, Excelerate, through its recently formed Finnish gas marketing subsidiary, Excelerate Finland Gas Marketing Oy (“Excelerate Finland”), has executed an agreement for the sale of commissioning volumes and regasification capacity rights during the commissioning phase. Through this agreement, Excelerate Finland will be able to provide natural gas to downstream customers in Finland and other Baltic countries.
The FSRU Exemplar departed drydock in Spain on December 6 where it underwent customer-requested winterization upgrades. The vessel subsequently procured its cargo from Excelerate’s global LNG portfolio via a ship-to-ship transfer with the FSRU Excelsior near Gibraltar. The Excelsior recently completed its 10-year service in Israel and will go on charter to the Federal Republic of Germany in 2023.
The FSRU Exemplar is 291 meters long and 43 meters wide. It has a storage capacity of 150,900 m3 of LNG and can provide more than 5 billion cubic meters per year (bcm/y) of regasification capacity.
About Excelerate Energy:
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.
Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
FGS Global
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SAN DIEGO--(BUSINESS WIRE)--EDF Renewables North America (EDF Renewables) announced today it has completed the transaction with Boralex Inc. (Boralex) (TSX: BLX) by which Boralex has acquired EDF Renewables’ 50-percent ownership interests in five operating wind power projects totaling 447 megawatts (MW) in Texas and New Mexico.
EDF Renewables put into service all five projects totaling 894 MW with commissioning dates between 2014 and 2015. The sale of assets represents an integral part of EDF Renewables’ business model to facilitate a balanced portfolio and advance funding for new project development.
PROJECT |
CAPACITY |
COMMISSIONING |
LOCATION |
Hereford |
200 MW |
2014 |
Deaf Smith County, Texas |
Longhorn |
200 MW |
2015 |
Floyd & Briscoe Counties, Texas |
Spinning Spur 3 |
194 MW |
2015 |
Oldham County, Texas |
Milo |
50 MW |
2015 |
Roosevelt County, New Mexico |
Roosevelt |
250 MW |
2015 |
Roosevelt County, New Mexico |
“Considering EDF Renewables’ extensive development capabilities throughout North America, divestures provide an opportunity to rebalance our portfolio of owned assets," said Luis Silva, Chief Financial Officer, EDF Renewables. “We are grateful to have worked constructively with the local stakeholders in Texas and New Mexico over the last decade and are pleased to partner with Boralex on this transfer of ownership.”
"Boralex is pleased to collaborate with EDF Renewables on this transaction,” said Patrick Decostre, President and Chief Executive Officer of Boralex. “EDF Renewables and Boralex share extensive experience in renewable energy production, and this acquisition furthers our shared goals of making a more sustainable planet for generations to come.”
Boralex will become the managing member of the partnership.
EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 24 GW of developed projects and 13 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group.
For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.
About Boralex
At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to 2.9 GW. We are developing a portfolio of close to 4 GW in wind and solar projects and close to 800 MW in storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise, and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.
For more information, visit www.boralex.com or www.sedar.com. Follow us on Facebook, LinkedIn and Twitter.
Sandi Briner, +1 858-521-3525
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DUBLIN--(BUSINESS WIRE)--The "Global LNG Bunkering Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The LNG bunkering market is poised to grow by $855.43 mn during 2023-2027, accelerating at a CAGR of 17.39% during the forecast period. The report on the LNG bunkering market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The LNG bunkering market is segmented as below:
By Application
By End-user
By Geographical Landscape
This study identifies the increase in demand for cleaner fuels as one of the prime reasons driving the LNG bunkering market growth during the next few years. Also, technological advances in LNG bunkering and growth in LNG bunkering vessels will lead to sizable demand in the market.
The report on the LNG bunkering market covers the following areas:
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/dkp8m8
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CPRA transaction advances coastal restoration, protects cultural sites, and enables $6+ million to be deployed to support community resiliency and development
PLAQUEMINES PARISH, La.--(BUSINESS WIRE)--Today, Tallgrass has announced an agreement with the Louisiana Coastal Protection and Restoration Authority (CPRA) for the sale of over 500 acres of property in Plaquemines Parish, Louisiana, to advance Governor John Bel Edwards’s efforts to restore the state’s eroding coastlines and better protect communities against hurricane damage by creating more wetlands to serve as a natural storm barrier.
“Our state is in a battle against time and the elements to shore up our coastlines before it’s too late. By prioritizing the people of Southeast Louisiana and advancing our hurricane preparedness, this agreement highlights the importance my Administration has placed on attracting companies to Louisiana who prioritize Louisianans,” said Governor John Bel Edwards.
Under the agreement, CPRA will be able to advance the Mid-Barataria Sediment Diversion at the site on mutually agreeable terms and without the exercise of eminent domain. Tallgrass will also have the right to continue its evaluation of potential renewable and clean energy developments at the site through collaboration with CPRA and the local community to ensure any development activities at the site will be consistent with the CPRA’s coastal diversion program while simultaneously protecting and preserving the history and future of the local community.
Additionally, CPRA and Tallgrass will create the Ironton & Southeast Louisiana Committee. The Committee will be comprised of members from Ironton and Plaquemines Parish as well as Tallgrass and CPRA and will develop a strategic plan to protect, preserve and memorialize the Saint Rosalie Plantation Cemetery.
These steps will be additive to Tallgrass’s previously established 50-acre, permanent, buffer-zone, which was created in 2020 to prohibit industrial development adjacent to the historic community of Ironton. The Committee will also have responsibility for identifying and recommending opportunities to invest at least $3 million to support community resiliency and development. Any renewable and clean energy development opportunities identified by Tallgrass for the site would also be subject to the measures implemented under the strategic plan.
“This agreement gets us one step closer to building a first-of-its-kind environmental infrastructure project that will fundamentally change our state's ability to fight land loss. It enables us to build a cornerstone project of our Coastal Master Plan and represents the kind of collaboration between community, government, and the private sector that is required to effectively restore our coast,” said CPRA Chairman, Chip Kline. “Tallgrass understands the challenges we’re facing in coastal Louisiana and has prioritized putting this land to its best use – creating a stronger, more resilient coastline that supports our entire state.”
Separately, pending the successful close of the transaction, Tallgrass is dedicating an additional $3 million from the proceeds of the site sale to advance social and economic development initiatives in the region. The first of these initiatives will be contributions to assist in the reconstruction of the Saint Paul Missionary Baptist Church as well as other needs of the community of Ironton due to damage suffered from Hurricane Ida.
“For so many years, this community has been neglected. I appreciate Tallgrass’s willingness to contribute wherever needed and their decision to remain a part of our community. I look forward to our discussions about preserving the Saint Rosalie Plantation Cemetery as well as ensuring the health and well-being of Ironton,” said Rev. Dr. Haywood Johnson Jr., Pastor of Saint Paul Missionary Baptist Church.
“When we started with the property in Plaquemines Parish, we set out to be a partner of Ironton and Southeast Louisiana for the long-haul. While our development plans changed over time – our commitment to the community remains unchanged,” said Matt Kegg, Director of Terminals at Tallgrass. “We are thankful for what these initiatives enable us to do for the community of Ironton, Plaquemines Parish, and Louisiana more broadly, and we appreciate everyone’s efforts to begin this new chapter, together.”
The transaction is expected to close in the first quarter of 2023 subject to customary approvals and closing conditions.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected benefits of the transaction, including statements regarding the use of the site by CPRA and Tallgrass; the creation, composition and future actions of the Ironton & Southeast Louisiana Committee; the deployment of $3 million of proceeds by Tallgrass; and whether the transaction will close in the first quarter of 2023 or at all. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.
Tallgrass Media Inquiries
Steven Davidson, 817-988-4284
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Global freight forwarder recommits to reach net-zero carbon emissions by 2035
ITASCA, Ill.--(BUSINESS WIRE)--Supply chain solutions leader AIT Worldwide Logistics reaffirmed its commitment to protecting the environment as a signatory of The Climate Pledge. Co-founded by Amazon and Global Optimism, The Climate Pledge is a commitment signed by nearly 400 companies across 34 countries to reach net-zero carbon emissions by 2040—a decade ahead of the Paris Agreement’s goal of 2050. AIT aims to meet this goal even faster, by 2035.
“AIT is proud to reinforce our commitment to sustainability and join a community that will share knowledge, ideas, and best practices to combat climate change,” said AIT Executive Vice President and CIO, Ray Fennelly. “As a signatory of The Climate Pledge, we look forward to taking collective action to achieve net-zero carbon emissions by 2035, five years ahead of the pledge’s 2040 target. This goal not only aligns with our core values but will also create a better planet for our teammates, customers, partners, and the communities where we live and work—for generations to come.”
As a signatory to The Climate Pledge, AIT agrees to measure and report greenhouse gas emissions on a regular basis, implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies. The company also agrees to neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions.
AIT developed its own environmental sustainability initiatives in alignment with the United Nations' Sustainable Development Goals, with an aim to support sustainable consumption and production and to combat climate change and its impacts. To achieve these goals, AIT plans to reach net-zero carbon emissions status by 2035, through both emission reduction practices and carbon offset purchases.
Internally, AIT teammates also oversee emissions, waste, and energy management processes and programs, including a companywide commitment to recycling and paper reduction. Additionally, AIT uses its transportation management system to track and measure carbon dioxide emissions down to the shipment level.
To download AIT’s sustainability report and learn more about AIT’s sustainability initiatives, visit aitworldwide.com/corporate-social-responsibility.
Learn more about The Climate Pledge at theclimatepledge.com.
About AIT Worldwide Logistics
AIT Worldwide Logistics is a global freight forwarder that helps companies grow by expanding access to markets all over the world where they can sell and/or procure their raw materials, components and finished goods. For more than 40 years, the Chicago-based supply chain solutions leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, automotive, consumer retail, food, government, healthcare, high-tech, industrial and life sciences. Backed by scalable, user-friendly technology, AIT’s flexible business model customizes door-to-door deliveries via sea, air, ground and rail — on time and on budget. With expert teammates staffing more than 100 worldwide locations in Asia, Europe and North America, AIT’s full-service options also include customs clearance, warehouse management and white glove services. Learn more at www.aitworldwide.com.
Our Mission
At AIT, we vigorously seek opportunities to earn our customers’ trust by delivering exceptional worldwide logistics solutions while passionately valuing our co-workers, partners and communities.
Matt Sanders
Public Relations Manager
+1 (630) 766-8300
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800-669-4AIT (4248)
www.aitworldwide.com
OMAHA, Neb.--(BUSINESS WIRE)--Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, will release its fourth quarter and full year earnings on Tuesday, February 7, 2023, after the market close. The company will also hold a conference call to discuss the fourth quarter and full year 2022 results and 2023 outlook on the same day, beginning at 4:00 p.m. CT.
The news release, live webcast of the earnings conference call, and accompanying slide presentation will be available at www.werner.com in the “Investors” section under “News & Events” and then “Events Calendar.” To participate in the conference call, please dial (844) 701-1165 (domestic) or (412) 317-5498 (international). Please mention to the operator that you are dialing in for the Werner Enterprises call.
A replay of the conference call will be available on February 7, 2023, at approximately 6:00 p.m. CT through March 7, 2023, by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international) and using the access code 6540190. A replay of the webcast will also be available at www.werner.com in the “Investors” section under “News & Events” and then “Events Calendar.”
About Werner Enterprises
Werner Enterprises, Inc. delivers superior truckload transportation and logistics services to customers across the United States, Mexico and Canada. With 2021 revenues of $2.7 billion, an industry-leading modern truck and trailer fleet, more than 14,000 talented associates and our innovative Werner EDGE technology, we are an essential solutions provider for customers who value the integrity of their supply chain and require safe and exceptional on-time service. Werner provides Dedicated and One-Way Truckload services as well as Logistics services that include truckload brokerage, freight management, intermodal and final mile. As an industry leader, Werner is deeply committed to promoting sustainability and supporting diversity, equity and inclusion.
John J. Steele
Executive Vice President, Treasurer
and Chief Financial Officer
(402) 894-3036
DUBLIN--(BUSINESS WIRE)--The "Global Voluntary Carbon Market: Analysis By Value, By Traded Volume, By Credit Retirements, By Credit Issuance, By Project Category, By Type of Project, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global voluntary carbon market was valued at US$2,004.85 million in 2021 and is expected to reach 17.11 billion by 2027. On the other hand, the voluntary carbon market traded volume has reached 298.15 MtCO2e in 2021 and is projected to grow to 678.56 MtCO2e by 2027.
The annual credit issuance has increased to 399.96 MtCO2e in 2021, whereas annual credit retirement has increased to 166.65 MtCO2e. The voluntary carbon market (VCM) enables carbon emitters to compensate for their unabated emissions by purchasing carbon credits produced by projects targeted at removing or reducing greenhouse gas (GHG) emissions from the atmosphere.
In recent years, there has been unprecedented momentum among global corporates to accelerate climate actions, driven by the growing pressure from governments, society, and financial market players.
Despite a myriad of concerns around the existing practice of using carbon offsets as part of corporates' environmental strategies, corporate pledges have resulted in explosive growth in demand for voluntary carbon credits. The global voluntary carbon market is determined to grow at a CAGR of 42.91% over the forecasted period of 2022-2027. At the same time, the voluntary carbon market traded volume is expected to grow at a CAGR of 14.69%.
Market Segmentation Analysis:
Market Dynamics:
Growth Driver
Challenges
Market Trends
Recent Market Developments
Competitive Landscape:
The global voluntary carbon market is fragmented. The key players in the global voluntary carbon market are:
In 2021, Verra held the highest share of the credit issued, followed by California Air Resources Board. In 2022, South Pole announced that the company joined new Forest Stewardship Council (FSC) Climate Coalition Initiative. FSC aims to ensure that Indigenous Peoples, smallholders, and forest stewards benefit from participating in certification and the growing carbon market. Whereas, 3Degrees announced the launch of new climate tech advisory services, which complement the company's existing suite of climate advisory and implementation services.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ns4v93
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AUSTIN, Texas--(BUSINESS WIRE)--Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham” or the “Company”) today announced the stockholders of the Company voted in favor of all proposals necessary for the closing of the previously announced merger (the “Merger”) between Brigham and Sitio Royalties Corp. (“Sitio”). The Merger is anticipated to close on December 29, 2022.
At the special meeting of Brigham stockholders held today, more than 81.2% of the shares of Brigham common stock were represented, and more than 99.7% of the votes cast were in favor of the Merger.
As previously announced, Brigham stockholders will receive 1.133 shares of Class A common stock of Snapper Merger Sub I, Inc. (“New Sitio”) for each share of Brigham Class A common stock owned and 1.133 shares of New Sitio Class C common stock for each share of Brigham Class B common stock owned. Brigham Minerals Holdings, LLC (“Opco LLC”) unitholders will receive 1.133 common units representing limited partnership interests in Sitio Royalties Operating Partnership, LP for each unit in Opco LLC owned.
At the close of trading today, Brigham Class A common stock will no longer be listed for trading on the New York Stock Exchange.
In addition, in connection with the closing of the Merger, Gayle Burleson, Jon-Al Duplantier, Richard Stoneburner and John (“J.R.”) Sult will join the New Sitio board of directors. Ms. Burleson, Mr. Duplantier, Mr. Stoneburner and Mr. Sult each served on Brigham’s board of directors until the closing of the Merger.
About Brigham Minerals, Inc.
Brigham is an Austin, Texas, based company that acquires and actively manages a portfolio of mineral and royalty interests in the core of some of the most active, highly economic, liquids-rich resource basins across the continental United States. Brigham’s assets are located in the Delaware and Midland Basins in West Texas and New Mexico, the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming, and the Williston Basin in North Dakota. Brigham’s primary business objective is to maximize risk-adjusted total return to its stockholders by both capturing organic growth in its existing assets as well as leveraging its highly experienced technical evaluation team to continue acquiring minerals.
Forward-Looking Statements
This communication relates to the proposed Merger between Brigham and Sitio and 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 (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the proposed Merger between Brigham and Sitio, the likelihood that the conditions to the consummation of the Merger will be satisfied on a timely basis or at all, Brigham’s and Sitio’s ability to consummate the Merger at any time or at all, the benefits of the Merger and the post-combination company’s future financial performance following the Merger, as well as the post-combination company’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 “may,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions and the negative of such words and 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 Brigham’s and Sitio’s 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. Such statements may be influenced by factors that could cause actual outcomes and results to differ materially from those projected. Except as otherwise required by applicable law, Brigham and Sitio disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Brigham and Sitio caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Brigham and Sitio. These risks include, but are not limited to, the post-combination company’s ability to successfully integrate Brigham’s and Sitio’s businesses and technologies; the risk that the expected benefits and synergies of the Merger may not be fully achieved in a timely manner, or at all; the risk that Brigham or Sitio will not, or that following the Merger, the combined company will not, be unable to retain and hire key personnel; the risk associated with Brigham’s and Sitio’s ability to obtain the approvals of their respective stockholders required to consummate the Merger and the timing of the closing of the Merger, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; the risk that any regulatory approval, consent or authorization that may be required for the Merger is not obtained or is obtained subject to conditions that are not anticipated; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; Sitio’s ability to finance the combined company (including the repayment of certain of Brigham’s indebtedness) on acceptable terms or at all; uncertainty as to the long-term value of the combined company’s common stock; and the diversion of Brigham’s and Sitio’s management’s time on transaction-related matters. 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 Brigham’s and Sitio’s expectations and projections can be found in Brigham’s periodic filings with the U.S. Securities and Exchange Commission (“SEC”), including Brigham Mineral’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and Sitio’s periodic filings with the SEC, including Sitio’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, Part II, Item 1A “Risk Factors” in Sitio’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Brigham’s and Sitio’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Brigham Minerals:
Blake C. Williams
Chief Financial Officer
(512) 220–1500
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DUBLIN--(BUSINESS WIRE)--The "Sunflower Oil Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2028" report has been added to ResearchAndMarkets.com's offering.
The report predicts the global sunflower oil market to grow with a CAGR of over 6% over the forecast period from 2022-2028.
The report on the global sunflower oil market provides qualitative and quantitative analysis for the period from 2020 to 2028. The study on the sunflower oil market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2020 to 2028.
The report on the sunflower oil market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global sunflower oil market over the period of 2020 to 2028. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market, and opportunities for the new entrants in the global sunflower oil market over the period of 2020 to 2028. Further, IGR- Growth Matrix gave in the report brings insight into the investment areas that existing or new market players can consider.
What does this Report Deliver?
Company Profiles
Report Findings
Drivers
Restraints
Opportunities
Segments Covered
The Global Sunflower Oil Market by Type
The Global Sunflower Oil Market by Application
The Global Sunflower Oil Market by Distribution Channel
Key Topics Covered:
1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
2. Executive Summary
2.1. Sunflower Oil Market Highlights
2.2. Sunflower Oil Market Projection
2.3. Sunflower Oil Market Regional Highlights
3. Global Sunflower Oil Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Analysis of COVID-19 impact on the Sunflower Oil Market
3.4. Porter's Five Forces Analysis
3.5. IGR-Growth Matrix Analysis
3.5.1. IGR-Growth Matrix Analysis by Type
3.5.2. IGR-Growth Matrix Analysis by Application
3.5.3. IGR-Growth Matrix Analysis by Distribution Channel
3.5.4. IGR-Growth Matrix Analysis by Region
3.6. Value Chain Analysis of Sunflower Oil Market
4. Sunflower Oil Market Macro Indicator Analysis
5. Global Sunflower Oil Market by Type
5.1. Linoleic Oil
5.2. Mid-oleic Oil
5.3. High-oleic Oil
6. Global Sunflower Oil Market by Application
6.1. Food
6.2. Biofuels
6.3. Cosmetics
7. Global Sunflower Oil Market by Distribution Channel
7.1. Supermarkets and Hypermarkets
7.2. Retails Stores
7.3. Online Stores
8. Global Sunflower Oil Market by Region 2022-2028
8.1. North America
8.1.1. North America Sunflower Oil Market by Type
8.1.2. North America Sunflower Oil Market by Application
8.1.3. North America Sunflower Oil Market by Distribution Channel
8.1.4. North America Sunflower Oil Market by Country
8.2. Europe
8.2.1. Europe Sunflower Oil Market by Type
8.2.2. Europe Sunflower Oil Market by Application
8.2.3. Europe Sunflower Oil Market by Distribution Channel
8.2.4. Europe Sunflower Oil Market by Country
8.3. Asia-Pacific
8.3.1. Asia-Pacific Sunflower Oil Market by Type
8.3.2. Asia-Pacific Sunflower Oil Market by Application
8.3.3. Asia-Pacific Sunflower Oil Market by Distribution Channel
8.3.4. Asia-Pacific Sunflower Oil Market by Country
8.4. RoW
8.4.1. RoW Sunflower Oil Market by Type
8.4.2. RoW Sunflower Oil Market by Application
8.4.3. RoW Sunflower Oil Market by Distribution Channel
8.4.4. RoW Sunflower Oil Market by Sub-region
9. Company Profiles and Competitive Landscape
9.1. Competitive Landscape in the Global Sunflower Oil Market
9.2. Companies Profiled
9.2.1. Archer Daniels Midland Company
9.2.2. Oliyar
9.2.3. Cargill Incorporated
9.2.4. Colorado Mills
9.2.5. Kaissa Oil
9.2.6. Delizio
9.2.7. CONAGRA BRANDS
9.2.8. Marico
9.2.9. Rein Oil CC
9.2.10. MWC Oil
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/wb180j
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
Laura Wood, Senior Press Manager
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ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (NYSE:KNOP) (“the Partnership”) today announced that the U.S. Treasury and Internal Revenue Service (“IRS”) final regulations concerning publicly traded partnerships that are taxed as partnerships for U.S. federal income tax purposes (“PTP”) that are coming into effect on January 1, 2023, will not affect its unitholders.
These regulations oblige brokers, withholding agents and qualified intermediaries to withhold a 10% tax on a non-U.S. partner’s disposition of an interest in a PTP. As a result, certain non-U.S. brokers may not permit non-U.S. persons to hold such PTP interests in their brokerage account.
KNOP elects to be treated as a C corporation for U.S. federal income tax purposes and therefore interests in the Partnership are not subject to these regulations.
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.
KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 1224 618 420
PLANO, Texas--(BUSINESS WIRE)--#blueoil--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced that Chris Kendall, President and Chief Executive Officer, will participate in a panel discussing carbon capture economics and development at the Goldman Sachs Global Energy and Clean Technology Conference on Thursday, January 5, 2023, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). Mr. Kendall and other members of management will also participate in meetings with investors. Supplemental corporate materials for the conference will be posted to the Company’s website at www.denbury.com the same morning.
ABOUT DENBURY
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions by 2030, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
Follow Denbury on Twitter and LinkedIn.
Brad Whitmarsh, 972.673.2020, This email address is being protected from spambots. You need JavaScript enabled to view it.
Beth Bierhaus, 972.673.2554, This email address is being protected from spambots. You need JavaScript enabled to view it.
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Atwell has entered into a definitive agreement to acquire Dempsey Surveying Company, a land surveying firm based in Cleveland, Ohio. This acquisition, the third transaction announced by Atwell this quarter, will expand the company’s presence in Ohio and surveying capabilities in the Midwest. The deal is expected to close by Dec. 31, 2022.
Dempsey Surveying Company’s services include topographic surveys, construction staking, boundary services, Federal Emergency Management Agency (FEMA) flood elevation certificates, surface model TINs, Global Positioning System (GPS) services, aerial mapping, and drone services.
“We’re pleased to combine the knowledge, technical capabilities, and experience of these two successful companies,” said William W. Anderson, Senior Vice President of Atwell. “Our shared priorities of providing proactive solutions and excellent client service will strengthen our ability to deliver quality projects that achieve our clients’ goals.”
Dempsey Surveying Company has a wide range of clients across several markets including industrial, commercial, public utilities, and more. The company maintains more than 50 years of survey records.
“We’re excited to join the team at Atwell and look forward to being able to expand the services we offer to our existing and future clients,” said Christopher Dempsey, Chief Executive Officer of Dempsey Surveying Company. “This acquisition provides new opportunities for both our clients and team members.”
Since 1985, Christopher Dempsey has been providing surveying services throughout Ohio as a second-generation surveyor. He started Dempsey Surveying Company in 2002 with the sole focus on surveying and providing exceptional service.
This is Atwell’s third acquisition this quarter. Last month, Atwell financed the acquisition of Cross Surveying, a 28-person land surveying firm based in Florida, and acquired Ben Dyer Associates, a 55-person engineering firm based in Maryland.
Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country totaling more than 1,400 team members. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
Timothy Augustine, Chief Corporate Officer: ATWELL, LLC 248.447.2005 This email address is being protected from spambots. You need JavaScript enabled to view it.
Altus Power’s portfolio of solar and storage assets expected to grow to approximately 690 megawatts across 24 states
STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), a premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it entered a definitive agreement to acquire approximately 220 megawatts (MW) of newly developed and in construction solar assets for approximately $293 million from funds managed by True Green Capital Management LLC (“TGC”). Altus Power and TGC currently expect the transaction will close during first quarter of 2023 upon satisfaction of certain closing conditions. The Company intends to fund the transaction with its long-term funding facility led by Blackstone Structured Finance and cash on hand.
“We are excited to welcome this new set of customers to the Altus Power brand, deepening our reach, particularly in New York and California, where a majority of the assets in this portfolio were developed and constructed by our partner, TGC,” said Gregg Felton, Co-CEO of Altus Power. “TGC has a long history of successfully investing in commercial-scale solar with underwriting standards consistent with our own. Altus Power’s strengths in asset on-boarding and long-term customer servicing combined with our scalable funding architecture create a natural partnership.”
Panos Ninios, Managing Partner and Co-Founder of TGC agreed, “Altus Power's capacity to execute with efficiency and focus on building long-term relationships has made them an extremely valuable partner in both of our transactions. They share our founding belief that commercial-scale distributed solar generation is the most attractive segment of our industry. Our collaboration has facilitated TGC’s successful forays into new solar markets.”
Robert Camacho, Co-Head of Asset Based Finance within Blackstone’s Structured Finance Group, added, “We are pleased to expand our long-standing strategic partnership with Altus Power as it continues to meet the growing demand for low cost, renewable energy across the country. Our investment-grade rated long-term funding facility provides Altus Power with competitive financing in this rapidly growing market.”
The acquired portfolio, once closed, will promptly add approximately 207 MW of commercial-scale solar assets to Altus Power’s operations, with the remaining 13 MW in the final stages of construction and expected to be completed in the coming months. This portfolio offers additional scale in Altus Power’s existing markets including California, Colorado, Illinois, Massachusetts, New Jersey, and New York and provides entry into two new markets of Delaware and South Carolina.
Altus Power expects to own, operate and service these new assets and new customer relationships over the long-term with the potential to offer additional electrification solutions, including battery storage, as well as electric vehicle or fleet charging stations.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the premier independent commercial-scale clean electrification company serving commercial, industrial, public sector and community solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.
About True Green Capital Management LLC
TGC is a specialized renewable energy infrastructure private equity firm based in Westport, Connecticut and manages over $1 billion in equity capital, including $660 million in its most recently closed fund, TGC Fund IV, LLC. Having developed the capabilities of a direct operating business, TGC has raised four private equity funds and invested into distributed solar power generation portfolios across 14 U.S. states delivering clean, reliable renewable energy with an increasing focus in the UK and the European Union. The firm was founded in July 2011 and is led by a team of investment professionals with a proven track record and the demonstrated capacity to originate, finance, construct, and operate distributed renewable power generation projects at institutional scale. To learn more, visit https://truegreencapital.com/
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “intends,” “aims,” “may,” “could,” “will,” “should,” “plans,” “projects,” “forecasts,” “seeks,” “anticipates,” “goal,” “objective,” “target,” “estimate,” “future,” “outlook,” “vision,” or variations of such words or similar terminology that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to expectations regarding the ability of Altus Power and the other parties to close the transaction in a timely manner or at all, statements regarding the benefits of the proposed acquisition of the approximately 220 MW of both operating or development solar assets, expectations regarding our operations and performance of these solar assets, expectations regarding our relationships with new customers as a result of these acquisitions, and the expected timing of the closing of the proposed acquisition and other transactions contemplated by the definitive agreements. These statements are based on Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the risk that the acquisition may not close in the anticipated timeframe or at all due to a closing condition not being met; (2) the ability of Altus Power to recognize the benefits of any completed acquisitions or acquisitions that Altus Power may transact in the future, including the acquisition of these solar assets; (3) failure to obtain required consents or regulatory approvals in a timely manner or otherwise; (4) the ability of Altus Power to successfully integrate the acquisition of solar assets into its business and generate profit from their operations; (5) the ability of Altus Power to retain customers and maintain and expand relationships with business partners, suppliers and customers; (6) the risk of litigation and/or regulatory actions related to the proposed acquisition of solar assets; (7) the possibility that Altus Power may be adversely affected by other economic, business, regulatory and/or competitive factors; and (8) the impact of COVID-19, inflationary pressures, and supply chain issues on Altus Power’s business.
Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 24, 2022, Altus Power’s Form 10-Q filed with the SEC on November 14, 2022, as well as the other information the Company files with the SEC. New risks and uncertainties arise from time to time, and it is impossible for Altus Power to predict these events or how they may affect the Company. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and the information and assumptions underlying such statement as known by Altus Power on the date such statement was made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
Altus Power Contacts:
Chris Shelton, Head of IR
This email address is being protected from spambots. You need JavaScript enabled to view it.
True Green Contacts:
Christina Anzel
Director of Investor Relations & ESG
Mobile: + 1 917 608 3550
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DENVER--(BUSINESS WIRE)--Liberty Energy Inc. (NYSE: LBRT) announced today that it will release its financial results for the fourth quarter and full year ending December 31, 2022 after the market closes on Wednesday, January 25, 2023. Following the release, the Company will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Thursday, January 26, 2023. Presenting the Company’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President and Michael Stock, Chief Financial Officer.
Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 3034644. The replay will be available until February 2, 2023.
About Liberty
Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
Michael Stock
Chief Financial Officer
Anjali Voria, CFA
Strategic Finance & Investor Relations Lead
303-515-2851
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DUBLIN--(BUSINESS WIRE)--The "Global Bioethanol Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The bioethanol market is poised to grow by $66963.08 mn during 2023-2027, accelerating at a CAGR of 11.69% during the forecast period. The report on the bioethanol market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for the continuous supply of clean fuel, environment and energy security concerns, and favorable government policies.
The bioethanol market is segmented as below:
By Type
By End-user
By Geographical Landscape
This study identifies the growing adoption of bioethanol as a transport fuel as one of the prime reasons driving the bioethanol market growth during the next few years. Also, advancements in enzyme technologies and the increased preference for biofuels over conventional fuels will lead to sizable demand in the market.
The report on the bioethanol market covers the following areas:
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/4fgo08
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (Nasdaq: CLNE), the largest provider of the cleanest fuel for the transportation market, today announced that it entered into a four-year $150 million sustainability-linked senior secured term loan with Riverstone Credit Partners L.P. (“Riverstone Credit Partners”), a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”).
This financing provides Clean Energy with additional capital to execute its renewable natural gas (RNG) growth strategy as demand for RNG fuel rapidly rises. Clean Energy’s growth strategy includes the development of negative carbon intensity RNG projects and construction of new RNG fueling stations for transportation sector customers. Proceeds from the term loan will be used, in part, to help fund the company’s rapid expansion of RNG projects at dairies, which capture fugitive methane and turn it into a fuel made entirely from organic waste and reduces carbon emissions by an average of 300% versus diesel. Demand for the fuel continues to grow as customers like Republic Services, WM, UPS, LA Metro and New York City MTA continue to expand their RNG fleets.
“As we articulated at the beginning of the year, we have big plans to increase our supply of RNG from dairies because when it ends up in the tank of a heavy-duty truck or a transit bus, it is rated cleaner than any other alternative in the marketplace,” said Andrew J. Littlefair, president and CEO of Clean Energy. “Our joint ventures with bp and TotalEnergies are having great success. We are currently constructing multiple RNG projects at dairies around the country with a healthy pipeline of other projects. This additional financing will allow us to stay on this rapid pace of development.”
“Clean Energy pioneered RNG as a vehicle fuel and continues to be the largest provider of RNG for the transportation industry throughout North America. We are thrilled to partner with them on their quest to deliver fully zero-carbon RNG by 2025,” said Daniel Flannery, Managing Director at Riverstone.
Clean Energy obtained a second party opinion from Sustainable Fitch that considered the transaction to be aligned with the five pillars of the Loan Syndications and Trading Association's Sustainability-Linked Loan Principles.
For more information about this transaction, see the 8-K filing that will be accessible on the company’s website.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
About Riverstone
Founded in 2000, Riverstone is an investment firm focused on executing private equity and credit investments in energy, power, decarbonization and infrastructure. To date, the firm has raised approximately $43 billion of capital, which it has deployed across its platform to over 200 portfolio companies since inception. For more information about Riverstone, please visit www.riverstonellc.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about, among other things, the continued growth in the demand for RNG; our ability to execute on our overall RNG growth strategy; our ability to realize and fund our rapid expansion of multiple RNG projects at dairies around the country; the continued expansion of RNG fleets at customers such as Republic Services, WM, UPS, LA Metro and New York City MTA; and our quest to deliver fully zero-carbon RNG by 2025. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the Securities and Exchange Commission (available at www.sec.gov), including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 that the Company filed with the Securities and Exchange Commission on November 8, 2022, contain additional information and risk factors that may cause actual results to differ materially from the forward-looking statements contained in this press release.
Raleigh Gerber
949-437-1397
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CHICAGO--(BUSINESS WIRE)--Exelon Corporation (Exelon) (Nasdaq: EXC) today announced that it has extended the expiration date for each of its offers to exchange any and all of its outstanding unregistered notes listed below that were originally issued in private offerings for equal principal amounts of new issues of notes registered under the Securities Act of 1933, as amended.
The exchange offers, which were originally scheduled to expire at 5:00 p.m., New York City time, on Friday, December 23, 2022, have been extended until 5:00 p.m., New York City time, on Friday, January 6, 2023, unless further extended. All other terms, provisions and conditions of the exchange offers will remain in full force and effect.
As of 5:00 p.m., New York City time, on December 23, 2022, quantities of unregistered notes validly tendered and not validly withdrawn, as advised by The Bank of New York Mellon Trust Company, N.A., the exchange agent for the exchange offers, are set forth in the table below:
Security |
144A CUSIP
|
Reg S
|
Aggregate
|
Principal
|
Approximate
|
2.750% Notes due 2027 |
30161NAZ4 |
U3002LAD4 |
$650,000,000 |
$645,670,000 |
99.334% |
3.350% Notes due 2032 |
30161NBC4 |
U3002LAE2 |
$650,000,000 |
$649,950,000 |
99.992% |
4.100% Notes due 2052 |
30161NBF7 |
U3002LAF9 |
$700,000,000 |
$677,897,000 |
96.842% |
A Form S-4 registration statement filed by Exelon with the Securities and Exchange Commission regarding the exchange offers was declared effective by the Securities and Exchange Commission on August 19, 2022. The expiration date for each exchange offer is being extended to provide time for remaining outstanding unregistered notes to be exchanged.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. A copy of the prospectus and other materials related to the exchange offers may be obtained from the exchange agent, The Bank of New York Mellon Trust Company, N.A., by calling (800) 254-2826.
Cautionary Statements Regarding Forward-Looking Information
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements.
The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon include those factors discussed herein, as well as the items discussed in (1) Exelon’s 2021 Annual Report on Form 10-K filed with the SEC on February 25, 2022 in Part I, ITEM 1A. Risk Factors; (2) Exelon’s Current Report on Form 8-K filed with the SEC on June 30, 2022 to recast Exelon's consolidated financial statements and certain other financial information originally included in the 2021 Form 10-K in (a) Part II, ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (b) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 17, Commitments and Contingencies; (3) Exelon’s Third Quarter 2022 Quarterly Report on Form 10-Q (filed with the SEC on November 3, 2022) in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 13, Commitments and Contingencies; and (4) other factors discussed in filings by Exelon with the SEC.
Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this press release. Exelon does not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.
Donna Sitkiewicz
Corporate Communications
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312-394-7417 Exelon Media Hotline
Andrew Plenge
Investor Relations
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312-394-2345
PASADENA, Calif.--(BUSINESS WIRE)--Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy, today announced that on December 23, 2022, it received written notice from the New York Stock Exchange (“NYSE”) that the average closing price of its common stock over the prior consecutive 30 trading-day period was below $1.00 per share, which is the minimum average share price for continued listing on the NYSE.
Heliogen intends to respond to the NYSE within ten business days of receipt of the notice of its intent to cure the deficiency. Pursuant to the NYSE’s rules, Heliogen has a six-month period following receipt of the deficiency letter to bring its share price and average share price back above $1.00. During the cure period, Heliogen’s shares of common stock will continue to trade on the NYSE, subject to compliance with other continued listing requirements.
The NYSE notification does not affect Heliogen’s ongoing business operations or its Securities and Exchange Commission reporting requirements. Heliogen is considering all available options to regain compliance with the NYSE’s continued listing standards, including the consummation of a potential reverse stock split.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Forward-Looking Statements
This release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. 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,” “project,” “will likely result” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this release, are forward-looking statements, including statements regarding Heliogen considering implementing a reverse stock split. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside Heliogen’s control and are difficult to predict, including Heliogen’s ability to regain compliance with the NYSE’s minimum share price requirement within the applicable cure period, Heliogen’s ability to continue to comply with applicable listing standards of the NYSE and the other important factors set forth under the caption “Risk Factors” in Heliogen’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2022, as amended, and Heliogen’s other reports filed with the SEC. In addition, forward-looking statements reflect Heliogen’s expectations, plans or forecasts of future events and views only as of the date of this release. Heliogen anticipates that subsequent events and developments will cause its assessments to change. However, while Heliogen may elect to update these forward-looking statements at some point in the future, Heliogen specifically disclaims any obligation to do so, except as required by law.
Heliogen Investor Contact
Louis Baltimore
VP, Investor Relations
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Heliogen Media Contact:
ICR, Inc.
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HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today a volume increase of the sale and purchase agreement (SPA) with ENN LNG (Singapore) Pte Ltd (ENN), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. for the supply of liquefied natural gas (LNG) from NextDecade’s Rio Grande LNG export project (RGLNG) in Brownsville, Texas.
Under the 20-year SPA, ENN will now purchase 2.0 million tonnes per annum (MTPA) of LNG. This is a 0.5 MTPA increase from the original 1.5 MTPA SPA announced earlier this year. All volumes of LNG are indexed to Henry Hub and will be supplied from the first three trains at RGLNG on a free-on-board basis.
NextDecade is currently targeting a positive Final Investment Decision (FID) on the first three trains of the RGLNG export project during the first quarter of 2023, with FIDs of its remaining trains to follow thereafter.
About NextDecade Corporation
NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” and “forecast” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include NextDecade’s progress in the development of its LNG liquefaction and export projects and CCS projects and the timing of that progress; the timing of achieving a final investment decision on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to successfully complete the Terminal, the pipeline to supply gas to the Terminal and any CCS projects; ability to develop NCS’ business though implementation of CCS projects; ability to secure additional debt and equity financing in the future to complete the Terminal and CCS projects on commercially acceptable terms; accuracy of estimated costs for the Terminal and CCS projects; ability to achieve operational characteristics of the Terminal and CCS projects, when completed, including liquefaction capacities and amount of CO2 captured and stored, and any differences in such operational characteristics from expectations; development risks, operational hazards and regulatory approvals applicable to NextDecade’s development, construction and operation activities and those of its third-party contractors and counterparties; technological innovation which may lessen NextDecade’s anticipated competitive advantage or demand for its offerings; global demand for and price of LNG; availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG and CCS industries, including environmental laws and regulations that impose significant compliance costs and liabilities; scope of implementation of carbon pricing regimes aimed at reducing greenhouse gas emissions; global development and maturation of emissions reduction credit markets; adverse changes to existing or proposed carbon tax incentive regimes; global pandemics, including the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict, other sources of volatility in the energy markets and their impact on NextDecade’s business and operating results, including any disruptions in its operations or development of the Terminal and the health and safety of its employees, and on its customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of our securities on the Nasdaq Capital Market or another securities exchange or quotation medium; changes adversely affecting the businesses in which NextDecade is engaged; management of growth; general economic conditions; ability to generate cash; and the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Additionally, any development of the Terminal or CCS projects remains contingent upon completing required commercial agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
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