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DALLAS--(BUSINESS WIRE)--IOG Resources II, LLC (“IOGR II”) today announced that it has acquired producing gas assets (the “Assets”) in Appalachia operated by Seneca Resources, an affiliate of National Fuel Gas (NYSE: NFG). The Assets consist of non-operated wellbores primarily located in Clearfield, Elk and McKean counties, Pennsylvania with current net production of approximately 17 mmcfd. The acquisition represents the initial investment for IOGR II, the successor platform to IOG Resources, LLC. Following the transaction, the IOG Resources platform includes 13 discrete investments across 6 core basins in the US. Kirkland & Ellis LLP acted as legal counsel for IOGR II.


About IOG Resources

IOG Resources, LLC and IOG Resources II, LLC are Dallas, Texas-based energy investment platforms sponsored by First Reserve. The group was established in 2017 and is focused on onshore producing non-operated oil & gas investments and structured drilling capital in North America. For more information, please visit www.iogresources.com.

About First Reserve

First Reserve is a private equity firm exclusively focused on investing across diversified energy, infrastructure, and general industrial end-markets. Founded in 1983, First Reserve has 39 years of industry insight, and has cultivated a network of global relationships. First Reserve has raised more than $32 billion of aggregate capital since inception. Its investment and operational experience have been built from over 725 transactions, including platform investments and add-on acquisitions, on six continents.


Contacts

IOG Resources II, LLC
214-272-2990

George Edwards
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Jay Heath
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Tommy Woolley
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today that it has finalized its agreements with Petróleos Mexicanos (“Pemex”), Mexico’s state-owned oil company, to develop and operate an integrated upstream and natural gas liquefaction project off the coast of Veracruz in Southeastern Mexico.


The agreements comprise a long-term strategic partnership, expressly supported by His Excellency Andrés Manuel López Obrador, the President of Mexico, to complete the development of the Lakach deepwater natural gas field, one of the largest non-associated gas fields in the Gulf of Mexico.

NFE will invest in the continued development of the Lakach field over a two-year period by completing seven offshore wells. In addition, NFE will deploy to the Lakach field its 1.4 MTPA Sevan Driller FLNG unit, which is currently undergoing conversion in a shipyard in Singapore, to liquefy the majority of the produced natural gas.

We are pleased to finalize our strategic partnership with Pemex, which strengthens our commitment to long-term operations in Mexico and we believe demonstrates the substantial value of our integrated natural gas infrastructure business model,” said Wes Edens, Chairman and CEO of NFE. “This arrangement represents the first of what we consider to be an ideal formula for the deployment of NFE’s FLNG units to stranded gas plays around the world – one that combines gas for domestic use with low-cost supply for LNG export into global markets.”

NFE anticipates the all-in cost of producing LNG at Lakach will be among the lowest in the world. The Lakach FLNG unit is one of five FLNG units NFE plans to deploy in the next two years, adding approximately 7.0 MTPA of incremental liquefaction capacity to the global market – more than half of the world’s total expected capacity additions during the 2023-2024 period.

Agreements

Pursuant to the agreements, NFE will provide upstream services to Pemex whereby NFE produces natural gas and condensate in exchange for a fee for every unit of production delivered to Pemex. The fee is based on a contractual formula that resembles industry-standard gross profit-sharing agreements between the upstream service provider (NFE) and the owner of the hydrocarbons (Pemex).

NFE will produce natural gas in the Lakach field and will have the right to purchase, at a contracted rate, sufficient volumes for its FLNG unit, while Pemex will sell the remaining natural gas volumes and all of the produced condensate to its customers onshore.

Over the last several months, we have enjoyed the opportunity to expand our relationship with Mexico’s leading energy companies,” continued Mr. Edens. “We appreciate President López Obrador’s continued interest in and support of our development process and look forward to delivering reliable solutions that enhance energy security for the people of Mexico and our customers around the world.”

Lakach Field

Pemex discovered the Lakach deepwater natural gas field in 2007 and subsequently carried out significant exploration and development activities. Pemex ceased allocating capital to the field and suspended further development amid oil price declines in 2014. Under the leadership of President López Obrador, the Mexican government has stated that completing Lakach is a matter of national interest.

Pemex is pleased to finalize this strategic partnership with NFE, a leading energy infrastructure company,” said Octavio Romero Oropeza, CEO of Pemex. “We believe this partnership will enable Pemex to efficiently leverage our domestic natural gas resources, fulfill Mexico’s security of supply targets, and facilitate gas-fired power infrastructure development in the region.”

NFE and Pemex believe the Lakach field will yield approximately ten years of production, with the possibility of significantly extending the reserve life if the nearby Kunah and Piklis fields are developed. Coupled with these nearby fields, the area around Lakach has a total resource potential of 3.3 trillion cubic feet (“Tcf”) and comprises one of the most significant undeveloped offshore natural gas resources in the Western hemisphere.

The transactions described in this press release are subject to customary terms and conditions.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains certain statements and information that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: the terms and execution of related agreements and satisfaction of the terms and conditions with respect to agreements; implementation and compliance with the agreement by the parties, including calculation of contractual formulas and percentage of gas to be utilized by the parties; the development, construction, conversion, completion and operation of the projects and related infrastructure on time, in the specified locations, within budget and within the expected specifications and design; developing the Lakach field within a two-year period; deploying a 1.4 MTPA FLNG unit to the Lakach field; the success of the strategic alliance and the ability of the parties to implement their respective plans, forecasts and other expectations; the size of the Lakach deepwater natural gas field and nearby fields, related reserves, reserve life and yield amounts; expected development and completion timelines; consummation of the transactions contemplated and support to our business model; anticipated benefits to our strategic growth initiatives, including in connection with the deployment of NFE’s FLNG units to stranded gas plays around the world and anticipated deployment of various FLNG units in the future, as well as incremental capacity growth and impact on the global capacity; expectations related to the all-in cost of production being among the lowest in the world; the ability of the projects to support more reliable solutions for Mexico and the world, support Mexico’s security of supply targets, and facilitate gas-fired power infrastructure development in the region; ongoing support of the project by governmental and regulatory agencies, and role of the project as a matter of national interest for Mexico; beliefs about the Lakach field yielding approximately ten years of production and the ability to extend the production life of the Kunah and Piklis fields; and the role of the Lakach field as the most significant undeveloped offshore natural gas resources in the Western hemisphere. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved.

These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: risks related to the approval and execution of, and compliance with, the agreements and related agreements; the risk that the proposed transactions may not be completed in a timely manner or at all; breach or failure by the parties to comply with the covenants and obligations under the related agreements; unknown and unforeseen risks associated with the development of new projects, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, regulatory and legal challenges, instability or clarity of application of laws, and rules and regulations to the technology, among others; risks related to the development, construction, conversion, completion or commissioning schedule for the facilities and related infrastructure; we will be unable to operationalize our plans for the projects; failure of our third-party contractors, equipment manufacturers, suppliers and operators to perform their obligations for the development, construction, conversion and operation of our projects and assets; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; risks that we may not be able to realize the benefits of any such transactions or support customers’ needs; risks related to liquefaction operations and production of natural gas and LNG; risks related to the implementation of our mission and business strategy; common risks related to strategic alliances and ventures, including the timing and amount of commitments or obligations to fund operating and/or capital expenditures, nonperformance, limited or no control over the management, and business or operations of the counterparties; new or changes to existing governmental policies, laws, rules or regulations, or the administration thereof; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.


Contacts

Investors
Patrick Hughes
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Media
Jake Suski
+1 (516) 268-7403
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that Chief Executive Officer Jonathan Pertchik and Chief Financial Officer Peter Crage will be hosting meetings at the Benchmark Company’s 11th Annual Discovery One-on-One Investor Conference on Thursday, December 1, 2022 in New York City. For additional information or to schedule a one-on-one meeting with TA management, please contact your Benchmark Company representative or visit https://www.benchmarkcompany.com/news-events/upcoming-events/the-11th-annual-discovery-one-on-one-investor-conference.


About TravelCenters of America Inc.

TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 19,000 team members serve guests in over 276 locations in 44 states, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.


Contacts

Stephen Colbert, Director, Investor Relations
(617) 796-8251

  • Financing to accelerate the company's mission to deploy 26,000 energy storage systems in homes and businesses and integrate with Swell’s 600MWh of virtual power plants (VPP) across the US.
  • SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I, LP led the round; an Ares Infrastructure Opportunities fund and Ontario Power Generation Pension Fund also participated in the Series B raise.
  • Swell’s VPP programs help reduce the use of fossil fuel peaker plants by utilities and provide other important grid services by integrating solar, energy storage, and electric vehicle charging with the utility to provide a more reliable and carbon-neutral grid.

LOS ANGELES--(BUSINESS WIRE)--As homeowners and businesses embrace more renewable energy and battery storage to manage costs and increasingly frequent power outages, and as utilities seek to provide cleaner and more reliable energy to customers, Swell Energy announced today that it has raised $120 million to further its popular virtual power plant (VPP) programs. The round was led by SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I, LP, with participation from an Ares Infrastructure Opportunities fund and Ontario Power Generation Pension Fund.



The funding announced today will support Swell’s development of 600 MWh of VPPs through the deployment and aggregation of 26,000 energy storage systems located at homes and businesses across the United States. Swell VPPs provide a variety of grid service capabilities through projects in utility territories across Hawaii, California, and New York, aiding utilities in their mandate to deliver cleaner energy to customers and reduce the grid’s dependence on fossil fuel peaker plants.

Swell creates VPPs by linking utilities, customers, and third-party service providers together, and by aggregating and co-optimizing distributed energy resources through Swell’s GridAmp™ software platform. In particular, working with utilities, Swell delivers value to its network of customers through bill savings, GridRevenue™ and energy security, creating a cohesive network of solar-powered batteries that supports overall grid reliability and stability, while potentially reducing grid operating costs.

“By coordinating distributed energy resources across the grid to intelligently meet fluctuating demand, Swell’s AI- and machine learning-driven platform helps address a major challenge of the energy transition, while also lowering customers’ bills,” said Ben Parton, Director at SoftBank Group. “We are excited to support Swell’s team as they accelerate clean energy adoption.”

“Swell’s business model is an innovative application of existing technology directly solving two large issues plaguing the grid and renewable energy adoption: transmission and load shifting,” said Ben Baker, Managing Director and Principal of Greenbacker Development Opportunities Fund. “We couldn’t be more pleased to partner with Swell, its impressive management team, and the existing investor base. The company’s three business verticals—Grid Services, Finance, Development—are mutually beneficial, and together will swiftly expand the proliferation of renewable resiliency, providing value to both customers and utilities.”

In addition to the project finance opportunities with current utility partnerships, Swell is also pursuing development in otherwise underserved markets where critical grid services are necessary to strengthen and modernize infrastructure. In regions where local grids must evolve to accommodate more renewable energy and electric vehicle adoption, Swell’s VPP programs can provide increased grid flexibility while precluding significant investment in new fossil fuel generation.

For these utilities, Swell increases the stock of dispatchable behind-the-meter assets, aggregates these assets for grid services participation, and dispatches distributed energy resources to create ongoing value for the grid, all while creating an improved experience for the customer. Swell analyzes and identifies each region's distinct utility needs and grid stresses, then delivers the appropriate grid services through flexible energy storage solutions, helping with load management, renewable energy balancing, and ancillary grid services.

“Swell is at the forefront of executing on the promise of virtual power plants, which we believe can be one of the most important and necessary advancements in smart grid service technologies available,” said Keith Derman, Partner and Co-Head of the Ares Infrastructure Opportunities strategy. “Ares has been working with Swell since its Series A raise in 2019, and we are excited to continue building upon that relationship with this follow-on investment.”

Businesses and homeowners participating in these programs benefit from Swell’s VPPs by paying less for their solar energy generation and storage systems, potentially reducing the risk of a local power outage, and keeping their homes and businesses securely powered through any outages. For example, Swell works with multiple California utilities to help expand residential participation in capacity bidding programs. Homeowners with solar and energy storage systems support the reliability of their local grids while reserving battery power for personal emergency use. The efforts are part of the California Public Utility Commission's goals to reduce the state's load during California Independent System Operator emergency power events.

“Utilities and investors have understood the importance of virtual power plants for some time now; this funding further signals that the capital markets see tremendous value in this new asset class,” said Suleman Khan, CEO of Swell Energy. “Virtual power plants are the key to a cleaner energy future at scale. Through the use of our GridAmp software, we are dedicated to enabling an accelerated transition to a carbon-neutral future compatible with the needs of both utilities and the communities they serve.”

This latest financing round brings Swell’s total equity capitalization to date to $152 million, including prior investments made by an Ares Infrastructure Opportunities fund, Aligned Climate Capital, Third Sphere, and others. Citi acted as sole placement agent on this transaction.

About Swell Energy

Swell Energy is creating a greater grid for the greater good. The energy management and smart grid solutions provider is accelerating the mass adoption of distributed clean energy technologies by enabling consumers to take control of their energy use and cost, achieve energy security, and participate in the transactive grid. Swell Energy provides homeowners and businesses with financing and virtual power plant programs while partnering with trusted local solar and solar+storage companies for seamless, high-quality installations. By creating a critical mass of dynamic and responsive clean energy resources within utility service areas across the United States, Swell Energy also delivers resilient virtual power plant networks and grid-balancing services to utilities, which are fundamental to our future, carbon-free, distributed renewable energy system. For more information, visit www.swellenergy.com and follow the company on Facebook, LinkedIn and Twitter.


Contacts

Jake Wengroff
for Swell Energy
(408) 806-9626  ext. 6816
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BOSTON--(BUSINESS WIRE)--General Electric Company (“GE”) (NYSE: GE) announced today that GE Healthcare Holding LLC (“GE HealthCare”), a direct, wholly-owned subsidiary of GE, has closed its previously announced offering of $1,000,000,000 aggregate principal amount of 5.550% senior notes due 2024 (the “2024 notes”), $1,500,000,000 aggregate principal amount of 5.600% senior notes due 2025 (the “2025 notes”) and $1,750,000,000 aggregate principal amount of 5.650% senior notes due 2027 (the “2027 notes” and, together with the 2024 notes and the 2025 notes, the “New Money Notes”), $1,250,000,000 aggregate principal amount of 5.857% senior notes due 2030 (the “2030 notes”), $1,750,000,000 aggregate principal amount of 5.905% senior notes due 2032 (the “2032 notes”), and $1,000,000,000 aggregate principal amount of 6.377% senior notes due 2052 (the “2052 notes” and, together with the 2030 notes and the 2032 notes, the “SpinCo Debt Securities” and, together with the New Money Notes, the “Notes”).


The Notes were offered as part of the financing for the proposed spin-off of GE HealthCare from GE (the “Spin-Off”), which is expected to be completed in the first week of January 2023. GE HealthCare has distributed the net proceeds from the offering of the New Money Notes to GE. The SpinCo Debt Securities were initially issued by GE HealthCare to GE and were transferred and delivered by GE to BofA Securities, Inc. and Morgan Stanley & Co. LLC, as selling noteholders in the offering, in satisfaction of certain debt obligations of GE in connection with the Spin-Off. GE HealthCare will not receive any proceeds from the offering of the SpinCo Debt Securities.

The Notes are senior unsecured obligations of GE HealthCare and are guaranteed by GE until the consummation of the Spin-Off. Upon consummation of the Spin-Off, GE will be automatically and unconditionally released from all obligations under its guarantees. GE HealthCare expects to convert into a corporation and be renamed GE HealthCare Technologies Inc. prior to the completion of the Spin-Off.

The issuances of the Notes by GE HealthCare and the guarantees by GE have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or under any U.S. state securities laws or other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. GE HealthCare has agreed to file with the Securities and Exchange Commission an exchange registration statement with respect to an exchange offer for the Notes or a shelf registration statement for the resale of the Notes.

This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Cautions Regarding Forward-Looking Statements

This announcement contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, including (1) the expected use of the proceeds from the sale and issuance of the Notes, the conversion of GE HealthCare into a corporation, and the timing and completion of the Spin-Off; (2) our success in executing and completing asset dispositions or other transactions, including the Spin-Off and our planned spin-off of our portfolio of energy businesses that are planned to be combined as GE Vernova (Renewable Energy, Power, Digital and Energy Financial Services), and sales of our equity interests in Baker Hughes Company (Baker Hughes) and AerCap Holdings N.V. (AerCap) and our expected equity interest in GE HealthCare after its spin-off, the timing of closing for such transactions, the ability to satisfy closing conditions, and the expected proceeds, consideration and benefits to GE; (3) changes in macroeconomic and market conditions and market volatility, including impacts related to the COVID-19 pandemic, risk of recession, inflation, supply chain constraints or disruptions, rising interest rates, the value of securities and other financial assets (including our equity ownership positions in Baker Hughes and AerCap, and expected equity interest in GE HealthCare after the Spin-off), oil, natural gas and other commodity prices and exchange rates, and the impact of such changes and volatility on our business operations, financial results and financial position and (4) our de-leveraging and capital allocation plans, including with respect to actions to reduce our indebtedness, the capital structures of the three public companies that we plan to form from our businesses, the timing and amount of dividends, share repurchases, organic investments, and other priorities, see the Forward-Looking Statements page on our Investor Relations website as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q.

About GE

GE (NYSE:GE) rises to the challenge of building a world that works. For more than 130 years, GE has invented the future of industry, and today the company’s dedicated team, leading technology, and global reach and capabilities help the world work more safely, efficiently, and reliably. GE’s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE’s mission and deliver for its customers. www.ge.com

About GE HealthCare

GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator. GE HealthCare employs approximately 51,000 people dedicated to creating a world where healthcare has no limits. GE HealthCare’s products, services, and solutions enable clinicians to make more informed decisions quickly and efficiently, improving patient care from diagnosis to therapy to monitoring. GE HealthCare’s products are used in more than two billion procedures to care for more than one billion patients annually, with a global installed base of more than four million medical devices and delivered over 100 million doses of imaging agents used in patient procedures in 2021. www.gehealthcare.com


Contacts

GE Investor Contact:
Steve Winoker, 617.443.3400
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GE Media Contact:
Whitney Mercer, 857.303.3079
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GE HealthCare Investor Contact:
Carolynne Borders, 631.662.4317
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DUBLIN--(BUSINESS WIRE)--The "Global Type 4 Cylinder Market by Material, Diameter, Length, Application, and Region: Competition Forecast and Opportunities to 2027" report has been added to ResearchAndMarkets.com's offering.


The global type 4 cylinder market is anticipated to grow at a steady CAGR in the forecast period, 2023-2027. High demand for type 4 cylinders among the passenger and commercial vehicles and storage and transport applications and the growing number of natural gas vehicles worldwide primarily drive the demand for the global type 4 cylinder market. The demand from the other end-user industries like aerospace and defense, construction & infrastructure are further influencing the market demand. Also, the surge in research and development activities to introduce next-generation cylinders and the growing awareness about the advantages of using these cylinders are expected to bolster the global type 4 cylinder market growth over the next five years.

Advantages of Using Type 4 Cylinders Drives the Market Growth

These cylinders are basically designed for high-pressure applications. Type 4 cylinders are basically 70% lighter than their counterparts and therefore boost the gas carrying capacity of cylinders. They are able to transport two times more gas in one trip, which reduces huge CNG transportation costs and results in massive savings. All cylinders have polymer lines with special additives and are made of gas-tight PE material and are resistant to rust and fatigue.

It eliminates the chance of line leakage and contamination as there is no chance of rust and corrosion. The special non-metallic liner does not allow permeation. They are designed to be maintenance-free, and retesting requires only inspection. Type 4 cylinders have a long service life and are considered highly durable and safe. They are made up of highly advanced carbon fiber and are very strong and can store gas even at high pressure. Type 4 cylinders are the best combination of safety, efficiency, and durability. They are good for the environment. The entry of new market players offering type 4 cylinders and the growing awareness about the benefits of using type 4 cylinders are expected to propel the global type 4 cylinder market growth over the forecast period.

Booming Automotive Industry Favors the Market Growth

The automotive industry is rapidly transforming and is adopting novel and advanced features and technologies to improve the performance, fuel capacity, mileage, seating capacity, and safety of automobiles. Automakers are working on improving the performance of the engine as it is the main power supply for the vehicles and plays a vital role in moving the vehicles. Stringent emission norms and growing concerns regarding the harmful effect of greenhouse emissions on the environment are making the leading authorities promote vehicles running on compressed natural gas, which is also known as a green fuel. It has auto-ignition temperature and has a low operational cost.

Another advantage of CNG vehicles is that it increases the life of lubricating oils and does not contaminate and dilute the crankcase oil. The major advantage of using type 4 cylinders is that it supports a higher driving range which lowers the refill anxiety issues. They are lighter and do not influence the running of vehicles even if shifted to the roof of vehicles. Type 4 cylinders offer higher mileage and reduce the fuel cost per km. Growing penetration of CNG vehicles worldwide and the increased use of type 4 cylinders in vehicles are expected to bolster the global type 4 cylinder market growth over the next five years.

Report Scope

Type 4 Cylinder Market, by Material:

  • Fully Carbon Fiber
  • Carbon Fiber +Glass Fiber

Type 4 Cylinder Market, by Diameter:

  • 414 mm
  • 533 mm
  • 648 mm

Type 4 Cylinder Market, by Length:

  • 60-inch
  • 80-inch
  • 90-inch
  • 100- inch
  • 120- inch

Type 4 Cylinder Market, by Application:

  • CNG
  • Biogas
  • Hydrogen
  • Others

Type 4 Cylinder Market, by Region:

  • North America
  • Asia-Pacific
  • Europe
  • South America
  • Middle East & Africa

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Type 4 Cylinder Market

4. Executive Summary

5. Voice of Customer

6. Global Type 4 Cylinder Market Outlook

7. North America Type 4 Cylinder Market Outlook

8. Asia-Pacific Type 4 Cylinder Market Outlook

9. Europe Type 4 Cylinder Market Outlook

10. South America Type 4 Cylinder Market Outlook

11. Middle East & Africa Type 4 Cylinder Market Outlook

12. Market Dynamics

13. Market Trends & Developments

14. Company Profiles

15. Strategic Recommendations

Companies Mentioned

  • Indoruss Synergy
  • Quantum Technologies
  • Aburi Composites
  • Hexagon Composites ASA
  • Luxfer Holdings PLC
  • Ullit SA
  • Worthington Industries
  • EKC International Dubai
  • AMS Composite Cylinders
  • Time Technoplast Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/8urc10


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto has proven the effectiveness of its low-carbon iron-making process using ores from its mines in Australia in a small-scale pilot plant in Germany, and is now planning the development of a larger-scale pilot plant to further assess its potential to help decarbonise the steel value chain.


The process, known as BioIron™, uses raw biomass instead of metallurgical coal as a reductant and microwave energy to convert Pilbara iron ore to metallic iron in the steelmaking process. BioIron™ has the potential to support near-zero CO2 steel-making, and can result in net negative emissions if linked with carbon capture and storage.

Over the past 18 months, the process has been tested extensively in Germany by a project team from Rio Tinto, sustainable technology company Metso Outotec, and the University of Nottingham’s Microwave Process Engineering Group. Development work was conducted in a small-scale pilot plant using batches of 1,000 golf ball-sized iron ore and biomass briquettes.

Rio Tinto Chief Commercial Officer, Alf Barrios, said “Finding low-carbon solutions for iron and steelmaking is critical for the world as we tackle the challenges of climate change. Proving BioIron works at this scale is an exciting development given the implications it could have for global decarbonisation.

“The results from this initial testing phase show great promise and demonstrate that the BioIron process is well suited to Pilbara iron ore fines. BioIron is just one of the pathways we are developing in our decarbonisation work with our customers, universities and industry to reduce carbon emissions right across the steel value chain.”

BioIron™’s potential was confirmed in a comprehensive and independent technical review by Hatch, the global engineering, project management and professional services firm. Hatch noted the thorough work completed by the team and BioIron™’s capacity to reduce greenhouse gas emissions while converting Pilbara iron ore into iron and steel.

The BioIron™ process will now be tested on a larger scale, at a specially designed continuous pilot plant with a capacity of one tonne per hour. The design of the pilot plant is underway and Rio Tinto is considering suitable locations for its construction.

The BioIron™ process works using lignocellulosic biomass including agricultural by-products (e.g. wheat straw, canola stalks, barley straw, sugar cane bagasse) or purpose-grown crops. The biomass is blended with iron ore and heated by a combination of combusting gases released by the biomass and high-efficiency microwaves that can be powered by renewable energy.

Rio Tinto is aware of the complexities around the use of biomass supply and is working to ensure only sustainable sources of biomass are used. Accordingly, the company is undertaking a benchmarking study of biomass certification processes. Through discussions with environmental groups, as a first step Rio Tinto have ruled out sources that support the logging of old growth and High Conservation Value forests.

Notes to editors

Steelmaking accounts for 8 percent of the world’s carbon emissions, and 66 percent of Rio Tinto’s Scope 3 emissions.

The BioIron™ process is well suited to Pilbara iron ore fines and is a highly efficient use of biomass as it is primarily used as a reductant, with microwave energy driving the iron ore reduction reactions to remove the oxygen from the iron ore.


Contacts

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Media Relations, UK
Matthew Klar
M+ 44 7796 630 637
David Outhwaite
M +44 7787 597 493

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Media Relations, Australia
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Rio Tinto plc
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London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
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Melbourne 3000
Australia
T +61 3 9283 3333
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ABN 96 004 458 404

riotinto.com

Category: General

DUBLIN--(BUSINESS WIRE)--The "Blue Hydrogen Market By Technology, By End Use, By Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.


The global blue hydrogen market size was valued at $0.9 billion in 2021, and projected to reach $3.5 billion by 2031, with a CAGR of 14.1% from 2022 to 2031.

Blue hydrogen is hydrogen produced from natural gas with a process of steam methane reforming, where natural gas is mixed with very hot steam and a catalyst. A chemical reaction occurs creating hydrogen and carbon monoxide. Blue hydrogen is grey hydrogen with a difference - the CO2 is captured during the production process and stored safely, for example in depleted gas or oil fields. This process is called carbon capture and storage (CCS). It prevents CO2 from entering the earth's atmosphere or only doing so in very small quantities.

Hydrogen is also significantly used as a clean fuel alternative to electricity generation and propels vehicles. It is used as a fuel to curb harmful discharges and deliver water vapor and heat as the only output through fuel cells. Fuel cell manufacturers are continuously striving to introduce advanced systems with feasible integration in various applications. Furthermore, different methods such as steam methane reforming, gas partial oxidation, and auto thermal reforming are adopted across the industry to generate hydrogen to serve the increasing requirements in various applications.

The governments from different emerging as well as developed countries have shown significant interest in achieving carbon neutrality. In addition, the administrations have updated their strategies to include clean energy sectors in their future prospects fueling the expansion of hydrogen economy. For instance, in March 2021, India and the U.S. governments have decided to update their strategic energy partnership to include low carbon technologies such as hydrogen and bio fuels. The two nations have also agreed to boost the R&D activities with programs such as partnership to advance clean energy research for renewable energy.

The blue hydrogen market is segmented on the basis of technology, end use, industry, and region. On the basis of technology, the market is divided into steam methane reforming, gas partial oxidation, and auto thermal reforming. On the basis of end use, it is classified into power generation, chemical, refinery, and others. In addition, on the basis of industry, the market is categorized into ammonia, methanol and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.

Rapid development of industrialization, modernization and increase in awareness among the individuals regarding the environmental impact of fossil fuels fuel the demand for blue hydrogen. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the green energy application made way for key developments in the global blue hydrogen market trends.

Key Benefits:

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the blue hydrogen market analysis from 2021 to 2031 to identify the prevailing blue hydrogen market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the blue hydrogen market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global blue hydrogen market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Technology

  • Steam Methane Reforming
  • Gas Partial Oxidation
  • Auto Thermal Reforming

By End Use

  • Power Generation
  • Chemical
  • Refinery
  • Others

By Industry

  • Ammonia
  • Methanol
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Netherlands
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • ATCO Ltd.
  • Linde plc
  • Suncor Energy Inc.
  • Royal Dutch Shell Plc
  • Air Products Inc.
  • Cummins Inc.
  • Siemens AG
  • Toshibha Energy Systems & Solutions Corp.
  • Equinor ASA
  • CertifHy Canada Inc.
  • Xebec Adsorption Inc.
  • Uniper SE
  • Saudi Aramco
  • Reliance Industries Ltd
  • AIR LIQUIDE S.A.

For more information about this report visit https://www.researchandmarkets.com/r/5o2k8m


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PLANO, Texas--(BUSINESS WIRE)--#blueoil--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced that it will host a CCUS Business Outlook webcast on Tuesday, December 13, 2022. The live webcast will feature presentations by Chris Kendall, President and CEO, Nik Wood, Senior Vice President of Denbury Carbon Solutions, and other members of executive management, who will review the Company’s CCUS strategy, growth plans, and financial projections.


The presentation is scheduled to begin at 10:00 a.m. CST and conclude around 11:30 a.m. CST, including a question & answer session. To register for the virtual event, individuals should visit CCUS Business Outlook Event or the Events and Presentations page on the Company’s Investor Relations website, www.denbury.com. A replay of the event will be available at the same website shortly following the conclusion of the broadcast.

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.

The Denbury Carbon Solutions team was formed in January 2020 to advance Denbury’s leadership in the anticipated high-growth CCUS industry, leveraging Denbury’s unique capabilities and assets that were developed over the last 20-plus years through its focus on CO2 EOR.

Follow Denbury on Twitter and LinkedIn.


Contacts

DENBURY IR CONTACTS:
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.

Enviva recognized for securing sustainable growth for nearly two decades and its strong commitment and efforts toward the environment, sustainability, and climate change

BETHESDA, Md.--(BUSINESS WIRE)--#AlternativeEnergy--Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced wood biomass, has been recognized as a 2022 “Enlightened Growth Leadership” award recipient by The Frost & Sullivan Institute (FSI). This award distinguishes global organizations that are committed to making the world a better place, addressing global priorities, and innovating to net zero, while remaining at the forefront of sustainable growth and transformation. The “Enlightened Growth Leadership” award is the only recognition of its kind that measures and evaluates companies based on the synergy between growth, Environmental, Social, and Governance (ESG), and Corporate Sustainability Reporting (CSR).


“This award underscores Enviva’s relentless commitment to caring about people and our communities, fighting climate change, and displacing fossil fuels,” said Thomas Meth, President and CEO at Enviva. “We are honored that Frost & Sullivan Institute independently researched our company and has commended our daily efforts to incentivize the growth of healthy forests, reduce greenhouse gas emissions on a lifecycle basis in supply chains and industry, and transform net zero into a reality for economies around the world.”

FSI follows its proprietary, 8-step, measurement-based methodology, combined with extensive research, in-depth analyses, and benchmarking, to shortlist recipients. FSI’s global think tank does a detailed review of all perspectives on where and how companies are improving the future of the planet. By combining business sense with a moral imperative, the final list of companies demonstrates aspirational ideas beyond the simple goal of generating profits. This year’s list of “Enlightened Growth Leadership” award recipients represents approximately the top 1% of all companies globally that FSI has identified as “moving the world in the right direction.” FSI reserves this recognition for companies that have embraced emerging technologies, generated opportunities for all, and are part of the solution to challenges our world faces today. Other recipients of the distinguished award over the years, include 3M, AT&T, BAE Systems, Barclays Bank PLC, Ingersoll Rand Inc., Franklin Electric Co. Inc., Salesforce, and Thermo Fisher Scientific Inc.

“Enviva demonstrates aspirational ideals beyond the simple goal of generating profits,” said Aroop Zutshi, Director at Frost & Sullivan Institute and Global Managing Partner at Frost & Sullivan. “Enviva was identified as a ‘best-in-class’ growth company that has successfully leveraged technology, commercialized supply chains, and integrated a partner ecosystem that works to improve forest health and provide a renewable alternative to global industries and economies in support of the planet’s well-being.”

FSI will host its annual, virtual awards event on November 22, 2022 at 9 a.m. ET, providing an opportunity to hear inspiring stories from some of the most committed leadership teams across the globe. For more information on the awards program and/or the upcoming event, visit: https://www.frostandsullivaninstitute.org/egl-awards/

About Frost & Sullivan Institute

The Frost & Sullivan Institute (FSI) is a non-profit organization dedicated to utilizing business practices to address global priorities. The genesis of the institute goes back to the vision of either creating, or becoming part of, a solution that addresses threats to humanity. The Institute has identified strategic imperatives for transformation and believes that we can truly accelerate innovation to zero. To learn more about FSI, visit www.frostandsullivaninstitute.org

About Enviva

Enviva Inc. (NYSE: EVA) 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 is planning to commence construction of its 12th plant, near Bond, Mississippi, in early 2023. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily 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.

To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.


Contacts

Media Contact:
Jacob Westfall
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+1-301-657-5560

Media Contact:
Prerna Mohan
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Extension of Production Processing contract demonstrates strength of relationship with long-term customer

HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that an affiliate of Talos Energy Inc. (“Talos”) (NYSE:TALO) has extended for one year the term of its contract with Helix for the Helix Producer I floating production vessel in the Gulf of Mexico. The one-year extension term is scheduled to conclude on June 1, 2024 with Talos having the option to extend the contract annually.


Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “We are pleased to extend our contract on the Helix Producer I and look forward to continuing our long-term working relationship with Talos. The Helix Producer I is a unique vessel that has provided safe and reliable production processing for Talos, and this extension further demonstrates our ability to continue meeting our clients’ needs. We continue to support the Energy Transition by offering clients the ability to maximize production from their existing wells.”

The Helix Producer I is a ship-shaped dynamically positioned (DP2) floating production unit. The vessel is designed to produce hydrocarbons and export to shore via pipeline or tanker and is equipped with a disconnectable transfer system (DTS), which allows the vessel to weathervane during production. This setup also allows disconnection from flowlines, pipelines and umbilicals, enabling the vessel to safely navigate away from severe weather and other potentially unsafe conditions. The vessel has been processing production from the Phoenix field since 2010.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. Our services are centered toward and well positioned to facilitate global energy transition by maximizing production of remaining oil and gas reserves, decommissioning end-of-life oil and gas fields, and supporting renewable energy developments. For more information about Helix, please visit our website at www.helixesg.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the contract and extension thereof and the parties thereto, the COVID-19 pandemic and oil price volatility and their respective effects and results, our protocols and plans, our current work continuing, the spot market, our ability to identify, effect and integrate acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition; our spending and cost reduction plans and our ability to manage changes; our strategy; any statements regarding visibility and future utilization; any projections of financial items including projections as to guidance and other outlook information; any statements regarding future operations expenditures; any statements regarding our plans, strategies and objectives for future operations; any statements regarding our ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding our environmental, social and governance ("ESG") initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ability to secure and realize backlog; the effectiveness of our ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.


Contacts

Helix Energy Solutions Group, Inc.
Erik Staffeldt, Executive Vice President and CFO
email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Ph: 281-618-0400

Sidus to Play Key Safety, Monitoring and Manufacturing Role as Partner to Capital C Carbon Positive Yacht Design Initiative

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, has signed a Memorandum of Understanding (“MOU”) with Capital C.


As part of the agreement, Sidus will assist in developing, delivering, and maintaining surveillance and tracking systems with software that utilizes satellite imagery, sensor data, and data delivery. Sidus will provide continued access to LEO satellite communications systems as well as the design and manufacture of specialized marine parts as a preferred vendor to Capital C.

This partnership blends Sidus’ rich manufacturing heritage with areas of strategic growth including satellite technology and data subscriptions as it prepares to launch its proprietary, partially 3-D printed, LizzieSat™ satellites in 2023. The use of 3-D printing, as opposed to traditional manufacturing, is a sustainable method that reduces waste, resources, cost and time. Capital C is a design and technology company specializing in designing yachts that are at the forefront of sustainability and are Carbon Positive, incorporating advanced technology, robotics, safety systems and autonomous systems within its designs, which are also focused on environmentally friendly and greatly reduced emissions capabilities.

“We are excited to establish this relationship with Capital C, a leader in sustainability, capitalizing on both our maritime experience and our growing satellite vertical,” said Carol Craig, Sidus Space Founder and CEO. “Being part of creating a sustainable space economy is important to us and we are particularly excited by this partnership.”

“We are delighted to announce our partnership with Sidus for providing us with sustainable satellite communication solutions. Sidus’ expertise in satellite communications and space-rated engineering and manufacturing will be a key component of our sustainable approach to design and build of our Sustainable Notation Yachts. As part of the development of Project Terra, it is our commitment to providing better communication and data solutions within SIDS and the emerging market. This collaboration with Sidus is an essential part to achieve this,” said Cindy Devina, Founder and Managing Director of Capital C.

LEO satellites are capable of enhancing Global maritime security related to hazards in the marine environment and piracy activities which jeopardize safety and efficiency.

Sidus plans to support surveillance with our LizzieSat constellation which will monitor a variety of possible factors including piracy, changes in ocean currents, debris, and oil spillage. We plan to do this with a combination of imagery, RF sensors, and compute at the edge technologies coupled with shipboard technologies to provide comprehensive enhanced situational awareness for Capital C products and services.

According to Euroconsult, the SmallSat (spacecraft with a mass of less than 500 kg) manufacturing market is expected to grow 258% to $55.6 billion in the next decade. The total space economy is forecasted to surpass $1 trillion by 2040, up from $370 billion in 2020.

About Sidus Space

Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on commercial satellite design, manufacture, launch, and data collection. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.

Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.

About Capital C

Capital C Design and Technology Ltd. (Capital C) is a design and technology company specializing in designing Superyachts and Passenger Expedition Yachts that are at the forefront of sustainability and compliant to IMO 2050 TODAY.
Capital C is the first company to receive provisional Approval in Principle (AiP) from Lloyd’s Register for IMO 2050 compliant Superyachts and Passenger Expedition Yachts. Furthermore, they are verified and certified to be Carbon Positive and qualified for ITMOs and all green finance mechanisms.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.


Contacts

Investor Relations
Dave Gentry
RedChip Companies Inc.
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1-800-RED-CHIP (733-2447)
Or 407-491-4498

Media Contact
Katie Kennedy
Senior Vice President
Gregory FCA
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1-610-731-1045

www.sidusspace.com

The deal with the rapidly growing Thessaloniki-based company adds Europe to Prescinto’s expanding international portfolio.

BARCELONA, Spain--(BUSINESS WIRE)--Prescinto Technologies (“Prescinto”), a leading global clean energy asset performance management (APM) SaaS platform, and SunSolarWind IKE (“SunSolarWind”), a Thessaloniki-based wind and solar energy project developer with a rapidly growing portfolio of more than 100 projects across Greece, today announced a partnership in which Prescinto will apply its world-class AI-powered APM solution to monitor, analyze, optimize the performance of 70 MW of SunSolarWind’s solar assets. This alliance will streamline operations and maintenance for SunSolarWind and improve their solar asset generation by providing accurate, real-time data and actionable insights. The deal also marks Prescinto’s entry into the European market following the announcement of its recent entry into the North American market.


As one of the fastest-growing companies in Greece, SunSolarWind is a leader in renewable energy development and provides complete packages for the construction and management of wind and photovoltaic energy projects on behalf of its customers and partners. Using Prescinto’s proprietary AI-powered software, the company will have access to advanced monitoring technology and pre-trained data models to identify and categorize underperformance in real time. The platform will provide a single point of verification for SunSolarWind’s solar plant data, extracting up-to-the-minute insights and efficiently managing the field service team’s daily operations using Prescinto’s Monitor, Analyze, and Operate product modules. These solutions leverage data-driven intelligence to enable informed asset management and maximize the value of SunSolarWind clean energy assets.

In an increasingly competitive energy market, digital technology plays a critical role in optimizing operations and performance. SunSolarWind chose Prescinto as their digital transformation partner after a stringent evaluation of multiple other solutions. Additionally, Prescinto’s APM software is uniquely designed to efficiently adapt to the client's needs and is tailored to SunSolarWind’s specific requirements.

“Our team has worked closely with SunSolarWind to understand their bottlenecks and implement the appropriate solutions to enhance energy generation and streamline their operations,” said Puneet Singh Jaggi, founder and CEO of Prescinto. “As our first of many major partnerships to come in the European market, we are excited to be a part of SunSolarWind’s digital transformation journey and help them harness the full potential of their clean energy assets.”

“With our exponential growth in managed assets, the SunSolarWind team can now focus more on improving asset performance with a considerable reduction in time and effort,” says Konstantinos Fountas, Partner at SunSolarWind. “The advanced analytics in Prescinto’s platform helps to identify and plan remedial action and reduce equipment downtimes. For a company like ours, Prescinto’s solution, and their Computerized Maintenance Management System in particular, is a boon.”

With its expansion into the European market with its first Greece-based client, Prescinto is poised for further growth and progress toward its goal of being the asset management platform of choice for renewable energy projects, globally.

About Prescinto Technologies

Prescinto Technologies is a leading global clean energy asset performance management SaaS platform for solar, wind, and energy storage, purpose-built by industry experts to improve asset generation and accelerate the clean energy transition. Prescinto provides real-time insights, analytics, and automation support for optimizing renewable energy asset performance. With a veteran team of industry experts and a portfolio of over 13 GW across 14 countries, Prescinto is the trusted partner for global clients working toward the clean energy transition. For more info, visit www.prescinto.ai.

About SunSolarWind

Sun Solar Wind Ike is a rapidly growing company in the field of environmental energy applications, comprised of well-trained and certified staff. The company offers complete packages for the construction and management of photovoltaic systems and energy projects on behalf of either its customers or its partners – installers. With more than 70MWp of assets under management in Greece, SunSolarWind is among Greece's fastest-growing renewable energy companies. For more info, visit www.sunsolarwind.gr.


Contacts

Media
Kenny Gayles
Antenna for Prescinto
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DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE American: REX), a leading ethanol company, announced today that it will report its fiscal 2022 third quarter financial results on Thursday, December 1, pre-market and will host a conference call and webcast at 11:00 a.m. ET that morning to review the results.


To access the conference call, interested parties may dial 212/231-2910 (domestic and international callers). Participants can also listen to a live webcast of the call by going to the Investors section on the REX website at www.rexamerican.com. A webcast replay will be available for 30 days following the live event.

About REX American Resources Corporation

REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 704 million gallons of ethanol over the twelve-month period ended July 31, 2022. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended July 31, 2022) by the ethanol production facilities in which it has ownership interests was approximately 280 million gallons. Further information about REX is available at www.rexamerican.com.


Contacts

Douglas Bruggeman
Chief Financial Officer
937/276‑3931

Joseph Jaffoni, Norberto Aja
JCIR
212/835-8500
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OSLO, Norway--(BUSINESS WIRE)--#Data--Cognite, a global leader in industrial software, today announced a long-term frame agreement with Equinor (OSE: EQNR, NYSE: EQNR), a world-leading energy company. The collaboration will expand Equinor’s data capabilities and further strengthen its digital program focused on global energy security and energy transition.


The objective for the Equinor and Cognite cooperation is to support Equinor in securing faster value capture from its ambitious digitalization program, using Cognite Data Fusion® as a module in Equinor’s OMNIA data architecture. OMNIA is built on the Microsoft Azure cloud, and the Equinor and Cognite collaboration will progress the deployment of digital solutions on OMNIA.

The Equinor and Cognite collaboration includes building a future-proof data architecture, new ways of working, and advancing industrial data extraction and contextualization. The agreement is an enterprise-wide extension of the collaboration Equinor and Cognite announced in December 2021.

The digital vision of Equinor is to make data available anytime, anywhere; predict and prevent safety and security incidents, make work easier by using robots; connect minds and technology, and ensure safe and secure operations. Cognite is a provider of data contextualization technology and capabilities and will support Equinor’s digitalization ambitions within energy transition and security. Data contextualization enables the development of accessible data models and analytics, empowering employees to develop competitive insights and stress-test hypotheses on a continuous basis.

“We are very proud of our continued collaboration with Equinor, and of supporting Equinor in its digital ambition to shape the energy transition,” says Founder and Chief Strategy & Development Officer of Cognite, Dr. John Markus Lervik. “With increasing market complexity, critical changes in the energy stack, and the growing importance of energy security, DataOps will accelerate digital capabilities for industry decision makers. Our long-term collaboration with Equinor is a great opportunity to demonstrate not only the value of contextualized data but also the value of cooperation to accelerate digitalization as we tackle global challenges.”

About Equinor

Visit equinor.com

About Cognite

Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com, and follow us on Twitter and LinkedIn.


Contacts

Press contact - Cognite
Michelle Holford
Global PR Lead - Cognite
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Award represents first fully integrated contract with bp and first for Subsea Integration Alliance in Trinidad and Tobago


HOUSTON--(BUSINESS WIRE)--SLB announced today an award to its OneSubsea® business and Subsea Integration Alliance of a large contract by bp for its Cypre gas project offshore Trinidad and Tobago. The contract scope covers the engineering, procurement, construction, and installation (EPCI) of the subsea production systems and subsea pipelines. The award represents Subsea Integration Alliance’s first fully integrated EPCI single contract with bp and the alliance’s first development in the Caribbean nation.

The Subsea Integration Alliance team delivered the initial front-end engineering and design phase for the project and will now transition into the full EPCI phase. Offshore installation is scheduled to commence in 2024.

OneSubsea, the subsea technologies, production, and processing systems business of SLB, will deliver the subsea production systems, which will include seven horizontal subsea tree systems, subsea controls and connection systems, distribution and control systems and aftermarket services. Subsea7, also part of Subsea Integration Alliance, will deliver the subsea pipelines for the project.

“By leveraging early engagement, digital solutions and field-proven, standard equipment, we were able to quickly define the development concept for bp’s Cypre project and place early orders for key components, derisking the project timeline,” said Don Sweet, director of SLB’s Subsea Production Systems business.

“bp’s Cypre project is a prime example of our ability to harness the key strengths of Subsea Integration Alliance: Subsea7 with its expertise in executing complex EPCI projects and OneSubsea’s fast-track delivery of subsea production systems,” said Subsea Integration Alliance Chief Executive Officer Olivier Blaringhem. “Combined, we are delivering a refined solution that enables early first gas.”

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About Subsea Integration Alliance

Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea7 and OneSubsea®, the subsea technologies, production, and processing business of SLB, bringing together field development planning, project delivery and total lifecycle solutions under an extensive technology and services portfolio. As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver, and operate the smartest subsea projects. This eliminates costly revisions, avoids delays, and reduces risk across the life of field.

For more information, visit www.subseaintegrationalliance.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “goal,” “target,” “should,” “could,” “would,” “will” “likely,” and other similar words. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from SLB, Subsea 7 and Subsea Integration Alliance strategies, initiatives or partnerships; and other risks and uncertainties, including those detailed in SLB’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in the forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB, Subsea 7 and Subsea Integration Alliance disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.


Contacts

Media
Moira Duff – Director of External Communication
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations
Joy V. Domingo – Director of Investor Relations
Tel:+1 (713) 375-3535
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Westinghouse and Fortum Sign Long-Term Partnership for VVER-440 Nuclear Fuel

SOLNA, Sweden--(BUSINESS WIRE)--Westinghouse Electric Company and Fortum recently signed a long-term partnership to develop, license and deliver VVER-440 fuel to the Loviisa Nuclear Power Plant in Finland to guarantee a dependable Western alternative to Russian-supplied fuel.



“The new and parallel fuel supplier will diversify our fuel strategy, improve security of supply and ensure reliable electricity production at the Loviisa power plant also in the future,” says Sasu Valkamo, Vice President, Loviisa Nuclear Power Plant.

“Westinghouse offers the only alternative fuel for this type of reactors that is both designed and manufactured outside of Russia, so this partnership will provide increased energy security for Finland and fuel diversification for Fortum,” said Tarik Choho, Westinghouse President of Nuclear Fuel. “We are proud to support Fortum’s operating fleet with fuel reload quantities, building on our successful collaboration delivering VVER-440 fuel for Loviisa from 2001 to 2007.”

The Loviisa Nuclear Power Plant has two VVER pressurized water reactors (PWR) that cover about 13 percent of Finland's electricity production. The amount of electricity generated at the Loviisa power plant is nearly equivalent to the total combined electricity consumption of the cities of Helsinki, Espoo, and Vantaa.

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.


Contacts

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Calgary and Dubai-based greenhouse gas (GHG) reduction project developer will work with the Rural Electrification Agency to finance and develop solar mini-grid projects in underserved communities in Nigeria.


CALGARY, Alberta & ABUJA, Nigeria--(BUSINESS WIRE)--CarbonAi Inc. (CarbonAi) is proud to announce that it has signed a memorandum of understanding (MOU) with the Rural Electrification Agency (REA) of Nigeria to identify and develop small-scale solar energy projects in that country. The projects will be funded by proceeds from carbon credits that are generated through CarbonAi-financed and developed flare gas capture projects in Nigeria.

Under the MOU, the parties will explore opportunities to finance and develop solar energy projects in unserved or underserved communities near CarbonAi’s flare gas capture projects in Nigeria. The REA will apply its knowledge of Nigeria’s rural electrification requirements and programs to identify appropriate project opportunities and liaise with local communities.

CarbonAi, in turn, will apply its carbon finance and project development expertise to finance, design and construct the projects. The company will also quantify, verify and monetize greenhouse gas (GHG) emissions reductions using its proprietary data management platform.

The REA is an implementation agency of the Federal Government of Nigeria under the Ministry of Power. It is primarily tasked with promoting and increasing access to electricity in unserved and underserved rural communities across Nigeria.

CarbonAi is a world-leading developer of fully integrated GHG reduction projects and GHG emissions quantification and monetization solutions. Based in Calgary and Dubai, the company provides full-cycle flare gas capture services in Africa and the Middle East, from project finance, design and construction to carbon credit quantification, verification and sale. For each project that CarbonAi develops, it invests a portion of carbon credit revenues to help local organizations develop sustainability initiatives through the CarbonAi Climate Dividend Programme.

"We are excited to work with the REA as our CarbonAi Climate Dividend Programme partner in Nigeria,” stated CarbonAi’s Chief Carbon Officer, Yvan Champagne. ”We are strong believers in win-win outcomes, and we believe our Climate Dividend Programme captures the spirit of the energy transition by leveraging immediate reductions in today’s energy system to build the energy system of tomorrow in Nigeria.”

Flaring of gas is a common practice in oil and gas activities worldwide; however, it generates high levels of GHGs and harmful local pollutants, often creating serious local air and water quality issues. Nigeria has the third highest number of gas flares globally, but the country has pledged to eliminate the practice by 2025. Many communities in Nigeria’s high-flaring regions do not currently have access to reliable electricity. The parties believe this MOU will be an important step in providing reliable renewable energy to local communities that are currently unserved and underserved, while improving local air quality associated with gas flaring.

Managing Director/CEO of the REA, Engr. Ahmad Salihijo Ahmad added that “REA’s collaboration with CarbonAi is timely and solution-driven. The off-grid space in Nigeria is undergoing commendable growth. With the resultant opportunities, key stakeholders must take the responsibility to leverage these opportunities to accelerate sustainable impact, nationwide. This is another strategic and innovative way to finance climate-resilient infrastructure in Nigeria while alleviating energy poverty.”

About the Rural Electrification Agency (REA)

The Rural Electrification Agency (REA) is the Implementing Agency of the Federal Government of Nigeria (FGN), under the Federal Ministry of Power, tasked with the electrification of unserved and underserved communities with the aim to catalyse economic growth and improve quality of life for Nigerians. The REA is currently administering the Rural Electrification Fund (REF) and implementing the Nigeria Electrification Project (NEP) and several initiatives in furtherance of its mandate.

To give effect to some of its initiatives, REA has obtained financing amounting to $550 million ($350 million from the World Bank and $200 million from the African Development Bank) for financing the Nigeria Electrification Project, and an additional $11 million for financing the Rural Electrification Fund for the deployment of Solar hybrid mini grids and solar home systems. These funds will ensure that millions of Nigerians have access to clean, safe, reliable, and affordable electricity.

For more information, please visit https://rea.gov.ng

About CarbonAi

CarbonAi is a world-leading developer of fully integrated greenhouse gas (GHG) reduction projects and GHG emissions quantification and monetization data solutions. Based in Calgary, Canada and Dubai, The Company provides full-cycle GHG reduction services, from project finance, construction and operation to carbon credit quantification, verification and sale. It also offers a cloud-based data platform to integrate and manage GHG emissions data from numerous, diverse and dispersed data sources, allowing for real-time emissions monitoring and forecasting, as well as streamlined verification and crediting.

For more, visit www.CarbonAi.ca


Contacts

Media Contact Info:
REA
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CarbonAi Inc.
Stephen Entwisle
Director, Communications
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+1 403-560-1944

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Industrial Gases Market, By Product Type (Oxygen, Nitrogen, Carbon Dioxide, Hydrogen, Argon, Helium), By Mode of Distribution (Tonnage/Gaseous, Bulk & Cylinder, Packaged), By Region, Competition Forecast and Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.


The Saudi Arabia Industrial Gases market was valued at USD2,054.18 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 5.40%, owing to a rapidly increasing investment in the mega projects in the kingdom of Saudi Arabia.

Companies Mentioned

  • Linde SIGAS
  • Air Products & Chemicals Inc
  • Air Liquide S.A.
  • Gulf Cryo Saudi
  • Saudi Basic Industries Corporation
  • Aldakheel Industrial Gases Plant (DIGAS
  • Jubail Gas Plant Co., Ltd
  • ACWA Holding
  • Taiyo Nippon Sanso Corporation
  • Barrak Industrial Gases Factory

Industrial gases are comprised of elements, molecular compounds, or mixtures. The most common industrial gases are oxygen, nitrogen, carbon dioxide, hydrogen, and noble gases such as argon, neon, helium, etc. Industrial gases are used for a wide spectrum of industries, which include oil and gas, chemicals, petrochemicals, metals, fertilizers, nuclear power, electronics, and aerospace. Technology like air separation plants refines air in a separation process, allowing the bulk manufacturing of many gases.

Rise in Investments in Mega Projects Driving Market Growth

The Government of Saudi Arabia is investing in the megaprojects across the kingdom. The submission of industrial gases is very much widespread in the construction business. Saudi Arabia's industrial gas situation will continue to grow in support, not only of the energy sector, but also in the emerging non-energy sector including the industrial, gas and chemical sectors. Mega Projects like Al Jubail Petrochemical Complex are driving the industrial gases market's overall growth in Saudi Arabia.

Growing Demand from Oil and Gas Midstream Sector is helping in Driving Saudi Arabia Industrial Gases Market

Industrial gases play a vital role in the oil refining business in all three stages of separation, conversion, and treating. High-quality gases improve the quality of end products being refined in an oil refinery and the quality of the process being conducted. In refineries, Nitrogen is used for blanketing tanks, preventing the release of hydrocarbon emission, and for preventing the ingress of oxygen into vacuum units.

Nitrogen is also used to calm chemical reactions and safely shut down or start up the various units that constitute the refinery. With the latest technological advancements in the oil and gas upstream industry, world leaders are almost ready to exploit the untapped reserves which they were not ready to exploit before because of lack of technology or fluctuating crude prices, which suggests the refining industry will also grow with this notion; hence it will drive the market growth of industrial gases as well.

Increasing Applications of Industrial Gas in Medical & Food Processing Industries Medical and food processing industries are driving the growth of industrial gases market in Saudi Arabia. For instance, according to chemical company Air Products, industrial gases can be applied to food production processes to boost productivity and help to create healthy, natural, and organic food products and they use liquid nitrogen and carbon dioxide in the freezing and chilling application of any food product. These gases also help grind spices, nutraceuticals, and other ingredients. Liquid nitrogen can be principally useful in reducing frictional heat throughout the grinding process, increasing output and consistency. It also avoids loss of flavors and aroma in food processing.

Industrial Gas Manufacturers Adopting IoT Technology

Many industrial gases manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. The data obtained through these devices is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on chemical reactors' working conditions and performance with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. Major industrial gas manufacturers adopting IoT technology include Praxair-Linde and Air Products.

Report Scope:

In this report, Saudi Arabia Industrial Gases Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Saudi Arabia Industrial Gases Market, By Product Type:

  • Oxygen
  • NitrogenCarbon Dioxide
  • Hydrogen
  • Argon
  • Helium

Saudi Arabia Industrial Gases Market, By Mode of Distribution:

  • Tonnage/Gaseous
  • Bulk & Cylinder
  • Packaged

Saudi Arabia Industrial Gases Market, By Region:

  • North & Central Region
  • Eastern Region
  • Western Region
  • Southern Region

For more information about this report visit https://www.researchandmarkets.com/r/ho9g59


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Press Event to Unveil Production iChassis on January 4, 2023

Booth Meetings with Management Available for Institutional Investors, Sell-Side and Industry Analysts

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it will showcase its vehicles at the upcoming 2023 Consumer Electronics Show (CES®), one of world’s largest technology trade shows taking place January 5-8, 2023 in Las Vegas. In conjunction with CES, the Company will also hold a press event on January 4th to unveil its production version of the iChassis and hold investor meetings at its booth to provide an overview of Cenntro and discuss the future of Mobility.


“CES is the world’s leading event for showcasing the future of sustainable transportation and technology, and we are looking forward to presenting our fleet and iChassis to attendees,” said Peter Wang, Chairman and CEO of Cenntro. “Cenntro is dedicated to delivering Electric Vehicle solutions that municipalities and corporate fleets, both large and small, can utilize to reduce emissions without sacrificing performance. Our purpose-built ECVs are designed to support urban logistics and services, last-mile delivery and other commercial applications purpose-built for the demands of the city.

“Technology has become an integral differentiator in EV vehicles and transportation, and CES® is the most influential tech tradeshow worldwide to unveil Cenntro’s iChassis. The iChassis opens the promise of automated and autonomous driving to new applications and businesses today, moving beyond the roads and bringing autonomy to everyday commercial functions from warehouses to surveillance to mobile vending and delivery. We believe these functions are the sweet spot for adoption of automated and autonomous vehicles and will drive new innovation for the implementation of autonomy,” concluded Wang.

Cenntro Exhibit at Booth 5840

Cenntro’s exhibit at Booth 5840 in the West Hall will be an almost 10,000 square feet display of its complete All Electric Commercial product line. The exhibit will include the full Logistar line which features the versatile, compact cargo van, the LS100, the multi-purpose LS200 available in van or box truck configurations, the segment defining LS260 van and the Class 4 LS400 purpose-built for last mile delivery and urban services. Cenntro will also showcase its Off-Road Vehicle offerings, the TeeMak, and the Antric One, an auto grade four wheeled e-cargo bike purpose-built for delivery services and general cargo transport.

Press Event for All Electric iChassis

Cenntro's production version, state of the art All Electric iChassis, will make its world premiere at a press conference on Tuesday, January 4, 2023 at 12:00 pm at the Mandalay Bay Hotel, the venue for CES Press Conferences. The open-platform, fully programmable iChassis has been designed for automated and autonomous driving. The iChassis opens innovation to third-parties to develop their own software and design hardware to control and maneuver the vehicle and to develop new applications that are unique to their needs.

Investor Meetings & Mobility Dinner

Cenntro’s executive team will hold meetings with institutional investors, sell-side and industry analysts to learn more about the Company and its products at booth 5840 in the West Hall of the Las Vegas Convention Center January 5-8, 2023.

For more information or to request a booth meeting, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

About Cenntro Electric

Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric light and medium-duty commercial vehicles. Cenntro's purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which may be viewed at www.sec.gov.


Contacts

Investor Relations Contact:

Chris Tyson
MZ North America
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949-491-8235

Company Contact:

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