LONDON--(BUSINESS WIRE)--Commodity AI firm ChAI has begun a project with BASF-YPC to forecast olefin prices including Ethylene, Propylene and Butadiene. BASF-YPC Company Limited is a large-scale petrochemical 50:50 joint venture between the world's two largest chemical companies BASF and Sinopec. ChAI provides BASF-YPC with Olefin price forecasts to support the company’s market intelligence and enhance its feedstock cost management.

ChAI is a data-driven market insights tool for companies exposed to commodity prices. ChAI uses proprietary AI technology to provide forecasts that update daily to enable companies to understand raw material price changes in their cost base fully. This information can help companies to enhance their hedging strategies, enable more accurate budgeting and justify purchasing decisions.

ChAI is democratizing the tools, techniques and data that have long given speculators a competitive edge: combining state-of-the-art AI techniques with exciting new alternative data sources to reduce the risk in physical supply chains. Their innovation helps better mitigate shocks to company cash flows and P&Ls – enabling businesses to plan better for the future and be more resilient.

Tristan Fletcher, CEO at ChAI, said: “It is a real honour to be able to serve two of the world’s largest and most prestigious chemicals companies, forecasting the raw materials in their cost base.”

Website: www.chaipredict.com

Linkedin: www.linkedin.com/company/chaipredict

Felix Orchard
07506450284
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ROSWELL, Ga.--(BUSINESS WIRE)--GS Yuasa Lithium Power (GYLP) announced today the first delivery of the Generation 4 LSE Lithium-ion Cells for Space to a North American client. The LSE60 (60Ah, 3.75V, 225Wh) will be entered into a competitive technical evaluation for suitability in the client’s advanced spacecraft platform under development.

GS Yuasa introduced the “LSE” family of lithium-ion cells specifically designed and qualified for space applications in 1998. The first-generation LSE cells utilized a lithium cobalt dioxide cathode opposed by a graphite anode (LCO/Graphite). Over the next two-decade period there have been only 4 major revisions, or generations, of the LCO/Graphite cell chemistry foundation. The generation changes are only released after completion of an exhaustive qualification process to ensure the targeted optimizations proposed lead to measurable improvement of the various key performance metrics while maintaining the accumulated heritage of the LSE cell family.

Investigation of the Generation 4 chemistry started as early as 2014. GS Yuasa recognized improvements to the critical raw active materials driven primarily by improved manufacturing techniques allowing for tighter control of the material specifications. Comprehensive analysis of numerous improved candidate active materials took place over the next several years. Adjacent to the performance metrics of each material, GS Yuasa actively studied the supplier’s ability to provide the material over the next decade or longer. This is a critical consideration of any prospective material to be used in a GS Yuasa cell.

The physical construction of the Generation 4 cells remains unchanged relative to previous generations. This continuity is critical and allows GS Yuasa to maintain all of the heritage accumulated with the LSE family of cells. Like the Generation 3 cells, the Generation 4 cells will be available in either an energy optimized electrode (standard) or power optimized electrode. The only difference between the two electrodes is coating thickness.

Energy Type Cells

Power Type Cells

The Generation 4 cell line-up consists of the heritage case form factors as identified in the tables above. Each of the 4 possible case sizes have been built and qualified. The possible Generation 4 cells all exist at some level of development. Some configurations are still being studied and others have fully completed flight qualification and are ready for market.

With volumes of life and performance data available and a solid connection between industry leading spaceflight heritage without failure and the Li-ion cells offered today, GS Yuasa’s value proposition is stronger now than ever.

To learn more about GS Yuasa’s LSE family of Li-ion cells for space, please contact GS Yuasa Lithium Power, Inc.

About GS Yuasa Corporation

GS Yuasa Corporation was established in 2004 by the merger of Japan Storage Battery Co., Ltd and YUASA Battery. GS Yuasa develops and manufactures batteries and power supply systems for a wide range of special applications. The company’s high-performance, high-quality batteries are installed in sea, land, and aerospace environments, from depths of 6,500 meters below the ocean surface to 36,000 kilometers in space.
http://www.gs-yuasa.com/jp/ (Japanese)
https://www.gs-yuasa.com/en/ (English)

About GS Yuasa Technology, LTD (GYT)

GS Yuasa Technology is a subsidiary of GS Yuasa Corporation located in Kyoto, Japan. GYT designs and manufacturers large format lithium ion cells for aerospace and specialty applications.
1-37 Osadano-cho Fukuchiyama-shi
Kyoto pref. 620-0853, Japan
Phone: 81-773-20-2630

About GS Yuasa Lithium Power (GYLP)

GS Yuasa Lithium Power, Inc. is the United States subsidiary of GS Yuasa focused on large format lithium-ion battery system manufacturing for US customers. Primary products are lithium-ion battery systems for aerospace, undersea, and defense applications. http://gsyuasa-lp.com/

Tom Pusateri
888.GSYUASA (888.479.8272)
678.892.7501 (Fax)
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http://www.gsyuasa-lp.com

The Company will advance the capabilities of its multipurpose satellite constellation with in-orbit demonstrations of new technology developments

VIENNA, Va.--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics and space services, will launch six satellites on the SpaceX Transporter-6 mission from Cape Canaveral Space Force Station no earlier than January 2023. The satellites will demonstrate advancements and new capabilities for Spire’s weather and aviation solutions.

Spire will launch two demonstration satellites carrying next-generation Automatic Dependent Surveillance-Broadcast (ADS-B) payloads, which collect aircraft position data. The satellites will expand Spire’s existing ADS-B constellation and play an integral role in improving coverage and latency for the Company’s aviation products. They will demonstrate sophisticated technology for global aircraft tracking, including an advanced antenna design based on years of in-orbit ADS-B payload experience and state-of-the-art inter-satellite links. The satellites will be Spire’s first to have propulsion systems on board. The multipurpose satellites will also carry payloads to monitor Automatic Identification System (AIS) signals for vessel tracking data and for Space Services customer Myriota, a provider of global Internet of Things (IoT) service from satellites.

One of the satellites on the launch will fly a polarimetric radio occultation (PRO) payload that collects data on precipitation profiles and patterns. The mission will validate PRO sensitivity to precipitation using several global navigation satellite systems as signals of opportunity. This will be the first step towards the assimilation of PRO data into weather models, which will enhance the value and accuracy of global weather forecasts along with the weather variables currently gathered by Spire’s constellation. The PRO payload, which will be the first launched by a private company, was designed as part of the ESA InCubed Programme, a co-funding program focused on developing innovative and commercially viable products and services that generate or exploit the value of Earth observation imagery and dataset. This activity is supported by the Luxembourg Space Agency (LSA). Spire is the largest producer of radio occultation data, which is leveraged by government agencies like NOAA, NASA, ECMWF, and EUMETSAT to drive global weather predictions.

“We at ESA are very happy with the efficiency, focus, and speed of implementation of this activity, and if we can see it resulting in measurement data and processing results for systematic evaluation of their assimilation into numerical weather prediction, that will be a rewarding completion,” said Thomas Burger, ESA Technical Officer for Spire.

“Satellites and payloads are continuing to get smaller and more powerful,” said Jeroen Cappaert, Spire CTO and Co-founder. “We’re capitalizing on this rapid pace of innovation and miniaturization to continue to enhance our constellation with cutting-edge technology that drives new applications of satellite data. The applications we’re demonstrating for aviation tracking and precipitation data will play a crucial role in solving some of the greatest challenges we face on Earth, such as overcoming climate change with more accurate weather forecasting and bringing transparency to the supply chain.”

The Company is also launching three satellites to replenish its fully deployed constellation of more than 100 multipurpose satellites. Spire designs and builds its satellites entirely in house at its manufacturing facility in Glasgow. The Company has built and launched more than 150 satellites, carrying over 500 years of spaceflight heritage across its fleet.

The satellites are manifested on the mission through a multi-launch agreement between Spire and Exolaunch, which includes access to the Transporter missions through Exolaunch’s long-term launch arrangements with SpaceX. Exolaunch, a global provider of launch, in-space logistics and deployment services, will also provide Spire with deployment and integration services.

About Spire Global, Inc.

Spire (NYSE: SPIR) is a leading global provider of space-based data, analytics and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multipurpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, Boulder, Washington DC, Ontario, Glasgow, Oxfordshire, Luxembourg, and Singapore. To learn more, visit www.spire.com.

Kristina Spychalski
Senior Manager, Communications
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DUBLIN--(BUSINESS WIRE)--The "Wind Turbines Manufacturers Database" has been added to ResearchAndMarkets.com's offering.

This product is a worldwide database of 226 wind turbines manufacturers

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For more information about this database visit https://www.researchandmarkets.com/r/oh5yhu

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Laura Wood, Senior Press Manager
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, today announced that the Company’s Board of Directors authorized payment of a Special Dividend to shareholders of $1.35 per common share.

The dividend is payable on January 18, 2023 to shareholders of record on January 4, 2023.

“Algoma has continued to demonstrate its ability to deliver strong financial results in a variety of economic conditions, resulting in cash flow levels to support our investment in sustaining and growing our earnings,” said Gregg Ruhl, President and Chief Executive Officer of Algoma. “We have also accumulated sufficient cash resources to reward our shareholders for their continued support, which we are doing with this Special Dividend” Mr. Ruhl continued.

With the payment of this dividend, Algoma will have paid Special Dividends in three of the past five years for a total of $4.75 per share.

About Algoma Central Corporation

Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Seaway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with two under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates the world's largest fleet of pneumatic cement carriers and a global fleet of mini-bulk vessels serving regional markets. Algoma truly is Your Marine Carrier of Choice™. For more information about Algoma, visit the Company's website at www.algonet.com.

Gregg A. Ruhl 
Algoma Central Corporation
President & CEO 
905-687-7890 

Peter D. Winkley, CPA, CA
Algoma Central Corporation 
EVP & Chief Financial Officer
905-687-7897

New funding from Breakthrough Energy Ventures and others will support Guidewheel in deploying plug-and-play FactoryOps to empower the world’s factories to cost-effectively drive both financial and sustainability goals

SAN FRANCISCO--(BUSINESS WIRE)--Guidewheel, the leading FactoryOps platform, today announced it has closed $9M in Series A-1 funding led by Breakthrough Energy Ventures, with participation from other existing and new investors. This fresh capital builds on the recent Series A led by Greycroft and allows Guidewheel to reach more manufacturers on its mission of empowering all of the world’s 10 million factories to reach sustainable peak performance.

Manufacturing is a key driver of good jobs and economic prosperity. It is also an industry with huge opportunity. Because equipment in factories often lasts for decades, a large number of machines in factories worldwide remain unconnected to the cloud even today. Key metrics are often therefore tracked manually, holding many factories back from achieving their full potential productivity and efficiency.

Guidewheel provides a fast, accessible, and elegant solution to bring those assets into the cloud and drive bottom-line impact. Inspired by the simple, universal truth that every machine on the factory floor uses power, Guidewheel clips onto the electrical draw of any machine to turn its real-time “heartbeat” into a connected, active learning software system that empowers teams to reduce lost production time, increase efficiency, and perform better and better over time.

With Guidewheel’s elegant design, any factory team can clip in all their machines—across all ages, makes, and models—and start seeing impact on key metrics like Overall Equipment Effectiveness (OEE) and margin within days. For example, one manufacturer, Penn Color, recently used Guidewheel to reduce costs and improve asset utilization 30-35%. And within the same FactoryOps platform, Guidewheel builds in all the tools manufacturers need to track and manage energy and carbon towards sustainability goals. The more a team uses Guidewheel, the bigger the impact—for their business and for the planet.

“Manufacturers are the backbone of our economy and in manufacturing, financial impact drives decisions,” said Lauren Dunford, CEO and Co-Founder of Guidewheel. “When the fastest and highest value-to-cost solution also includes the tools to drive real, quantifiable impact on sustainability, that’s a powerful combination. Working closely with manufacturing leaders and teams at every level, we are thrilled not only to see the results teams are achieving with Guidewheel today, but also all the new features we are launching to drive even more impact. We’re honored to work with Breakthrough Energy Ventures and Greycroft, two of the world’s top investors, to further accelerate and drive value for both manufacturers and our planet.”

Guidewheel’s FactoryOps platform presents an opportunity to achieve both large business benefits and dramatic reductions in energy and material waste across manufacturing, which contributes about one third of global greenhouse gas emissions. With real-time visibility, factories can lower their energy bills, drive more sustainable production, and have the data necessary for energy and Scope 2 and 3 emissions reporting.

“By providing real-time visibility into machine energy use, we believe Guidewheel can play a key role in global industrial decarbonization,” said Carmichael Roberts, Breakthrough Energy Ventures. “With FactoryOps technology that can work on all machines—old, as well as new—without requiring existing IT/OT infrastructure, manufacturing teams can achieve efficiency improvements at speed and scale. An investment that quickly pays for itself, it’s the rare climate technology with a negative green premium.”

"You can’t manage what you don’t measure. GHG emissions and energy usage were never more measurable and in real time than with Guidewheel. If you are serious about improving efficiency and reducing emissions you need to consider Guidewheel,” said Paul Kayser, CEO of Pretium Packaging, which uses Guidewheel across all of their 25+ plants globally.

“The Guidewheel team brings experienced leadership and talent to building category-defining software for manufacturers,” said Mark Terbeek, partner at Greycroft and Guidewheel board member. “We are excited about the impact and scale that Guidewheel’s unique platform, combined with the talented team they’ve built, is set up to achieve.”

To learn more about Guidewheel, visit www.guidewheel.com.

About Guidewheel

Guidewheel is the leading FactoryOps platform. Their plug-and-play technology empowers any factory to reach sustainable peak performance. Good for business, good for the planet. Guidewheel works with 100+ manufacturers across seven countries and was recognized by the World Economic Forum as one of 100 most promising companies globally poised to make a significant impact on business and society. Learn more at www.guidewheel.com.

About Breakthrough Energy Ventures

Founded by Bill Gates and backed by many of the world’s top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.

BEV is a part of Breakthrough Energy, a network of investment vehicles, philanthropic programs, policy advocacy and other activities committed to scaling the technologies we need to reach net-zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.

About Greycroft

Greycroft is a seed-to-growth venture capital firm that partners with exceptional entrepreneurs to build category-defining companies. The firm has deep experience investing in consumer, enterprise, digital health, and fintech sectors around the globe and works as a team to support and advise entrepreneurs, empowering them to execute on their visions. Greycroft values building enduring relationships with founders and understands that they want more from investors than just capital. Greycroft manages over $2 billion in capital raised and has made over 200 investments since inception. For more information, please visit https://www.greycroft.com.

Lauren Dunford
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• NET Power’s proven technology generates near zero-emissions utility-scale power, delivering the world’s first scalable solution that achieves the energy trifecta: clean, reliable, low-cost power.
• Implied pro forma enterprise value of $1.459 billion and will be publicly listed under the ticker symbol “NPWR”.
• $235 million of committed investments -- with participation from the Rice family, Occidental, Constellation, 8 Rivers, HITE Hedge, and NGP -- are expected to fund corporate operations through planned commercialization in 2026.
• Experienced energy executive Danny Rice will join NET Power as its new CEO upon closing of the transaction. Mr. Rice led Rice Energy and Rice Midstream Partners to over $10 billion of exits.
• Growing project pipeline and planned utility-scale plant deliveries starting in 2026 position NET Power to capture substantial market share and reduce global emissions on a gigatonne scale.

DURHAM, N.C.--(BUSINESS WIRE)--Rice Acquisition Corp. II (NYSE: RONI) (“RAC II”), a special purpose acquisition company focused on supply-side decarbonization solutions, and NET Power, LLC (“NET Power”) today announced a definitive agreement to enter into a business combination (the “transaction”) to accelerate deployment of NET Power’s proprietary technology that delivers clean, reliable, and low-cost power from natural gas. After the business combination, the company will be named NET Power Inc. (the “combined Company”). The transaction is expected to close in the second quarter of 2023 and the combined Company will be listed on the NYSE under the ticker symbol “NPWR”.

Upon closing of the transaction, Ron DeGregorio, current CEO of NET Power and 40-year power and energy veteran who successfully led NET Power through technology validation and establishment of key supplier partnerships, will be succeeded by Danny Rice, current director of RAC II and former CEO of Rice Energy, Inc., to lead NET Power through commercialization and beyond. The leadership team and board of directors of the combined Company have decades of experience in operations, engineering, management, and investment in energy and power generation.

“We have long believed that if you can use natural gas, generate reliable electricity, and capture the resulting emissions, you would change the world. For over a decade, NET Power has worked tirelessly to prove its game-changing technology, which we did through our demonstration facility in La Porte, Texas. Following the strategic investment and partnership with Baker Hughes to deliver key turbomachinery for future NET Power plants, this transaction properly capitalizes NET Power and enables the company to commercialize this revolutionary technology. The Rice Group is a logical strategic partner, and I am excited to hand the reins to Danny to lead NET Power,” said retiring CEO Ron DeGregorio.

Incoming CEO Danny Rice said, “Today, around 60% of global power generation comes from coal and natural gas-fired power plants that produce reliable and low-cost power. However, these plants collectively emit nearly 14 billion tonnes of CO₂ per year, accounting for approximately 37% of total global emissions. By replacing these plants with NET Power’s proven technology, we can eliminate nearly 100% of these emissions while providing reliable and low-cost power that people deserve. I’m excited to help NET Power deliver the energy trifecta and become the global leader in clean power generation.”

Vicki Hollub, President and CEO of Occidental, said, “We are excited to support this transaction, which will further NET Power’s commercialization plans and help achieve decarbonization goals globally. We first invested in NET Power because we believe the technology can accelerate Oxy’s efforts to reduce emissions in our existing operations and ultimately supply emissions-free power to the Direct Air Capture (“DAC”) sites and sequestration hubs we are developing.”

Occidental is advancing feasibility studies to incorporate NET Power plants into DAC hubs being developed by its 1PointFive subsidiary, where approximately 30 – 40 plants could provide enough clean power for a DAC program capturing 100 – 135 million tonnes of CO₂ per year.

Rod Christie, Executive Vice President of Industrial & Energy Technology at Baker Hughes, said, “Our strategic partnership focused on technology development and accelerating market positioning and deployment of the NET Power solution presents a clear path to commercialize near-zero emission natural gas power around the world. The combination of NET Power with Rice Acquisition Corp. II further reinforces the path towards making that progress a reality.”

Cam Hosie, CEO of 8 Rivers, said, “This transaction enables NET Power’s technology to become a cornerstone of the clean energy future. 8 Rivers is proud to have supported NET Power from the beginning, and we will continue to support NET Power’s global deployment by leveraging our commercial and project management expertise while driving deployments through our net-zero solutions business, Zero Degrees.”

Investment Highlights

• Opportunity: Power generation is the largest source of global emissions, totaling approximately 14 billion tonnes annually, primarily from coal and natural gas-fired power plants. Global decarbonization requires lower-carbon power generation solutions but today’s lower-carbon solutions are unreliable, unaffordable, or limited by scale. NET Power was designed with the operational flexibility to complement wind and solar in markets with high renewable penetration and the baseload reliability to meaningfully decarbonize markets predominantly powered by carbon-emitting coal and natural gas-fired power plants. Replacing retiring power plants and meeting new demand from electrification would equate to approximately 17,000 NET Power plants globally with over 1,300 plants in the U.S. alone.
• Technology: NET Power’s proprietary process combines oxy-combustion (combustion of natural gas with pure oxygen) with a supercritical CO₂ power generation cycle to generate electricity. This patented, high-efficiency cycle inherently captures over 97% of CO₂ which can then be utilized or sequestered, transforming natural gas into clean baseload power. NET Power is designed to generate reliable power with a carbon intensity similar to solar or wind coupled with a short-duration battery at a levelized cost of electricity of approximately $21-$40 per megawatt hour. A single utility-scale 300 MW NET Power plant would generate enough electricity for over 220,000 homes per year in the U.S. Learn more about the technology at: https://netpower.com/technology.
• Business: NET Power is an asset-light technology licensor with rights to a substantial and growing intellectual property portfolio. Each technology license is expected to generate approximately $65 million of present value (PV10) net to NET Power.
• Momentum: The company realized several key milestones over the past year, including:
  • Proving the Technology: In November 2021, the company’s demonstration facility in La Porte, Texas synchronized to the grid, proving the oxy-combustion and supercritical CO₂ process.
  • Preparing for Commercialization: In early 2022, the company formed a strategic partnership with Baker Hughes to design and manufacture key plant equipment including turboexpanders.
  • Compelling Economics: Passage of the Inflation Reduction Act in 2022 increased the 45Q tax credit for CO₂ sequestration. Under the revised 45Q, a NET Power plant, which is designed to capture up to 820,000 tonnes of CO₂ per year, becomes more economic to deploy than carbon-emitting coal and natural gas-fired alternatives.
  • De-risking Commercialization: In November, NET Power announced its plan to develop and build its first utility-scale project (Serial Number 1, or “SN1”) with the support of its strategic shareholders. The project, located at an Occidental hosted site near Odessa, Texas, targets 300 MW of near zero-emissions power and is designed to significantly de-risk the commercialization of NET Power’s technology. Learn more about the project at: https://www.prnewswire.com/news-releases/net-power-announces-its-first-utility-scale-clean-energy-power-plant-integrated-with-co2-sequestration-301669970.html.
• Industry-leading Strategic Partners: NET Power’s shareholders, representing approximately 70% of pro forma ownership (assuming no redemptions), are leaders in the energy industry, with deep experience across energy production, energy transportation, power generation, manufacturing, operations, sales, services, and CO₂.
  • Occidental (NYSE: OXY), NET Power’s largest shareholder, is an international energy company with 50 years of experience in large-scale CO₂ transportation, use and storage. Occidental is applying its carbon management experience to advance new low carbon initiatives to help achieve net-zero emissions in its operations and help others do the same. As previously announced, Occidental will host NET Power’s first utility-scale plant (SN1) at its operations near Odessa, Texas in the Permian Basin.
  • Baker Hughes (NASDAQ: BKR) is an energy technology company and is jointly developing and marketing NET Power’s suite of integrated equipment and technologies, including supercritical CO₂ turboexpanders.
  • Constellation (NASDAQ: CEG) is the largest provider of carbon-free power in the U.S. with more than 32,000 MW of generating capacity. Constellation has operational and market experience with large scale generation assets.
  • 8 Rivers Capital, LLC is a full-service net zero solutions provider leading the invention and commercialization of sustainable, infrastructure-scale technologies for the global energy transition. 8 Rivers invented NET Power’s oxy-combustion thermodynamic cycle and now provides project development support for NET Power.

Transaction Highlights

• Business combination of RAC II and NET Power at pro forma enterprise value of $1.459 billion.
• Assuming no redemptions, the transaction is expected to provide NET Power with approximately $535 million of cash net of transaction fees, consisting of $347 million of cash in trust of which $10 million is subject to a non-redemption agreement, and $225 million of PIPE commitments. Total committed investment of $235 million is comprised of $100 million from the Rice Family and affiliates through a $90 million PIPE commitment and $10 million non-redemption agreement, and PIPE commitments of $100 million from Occidental, $5 million from 8 Rivers, $5 million from Constellation, and $25 million from other investors.
• Net proceeds of $200 million secured through the committed investments are expected to fully fund corporate operations through commercialization of SN1 with expected commissioning in 2026. Net proceeds above $200 million are expected to advance and support commercialization, including funding of SN1.
• Existing NET Power shareholders are rolling 100% of their equity into the combined Company and will own approximately 70% of the pro forma equity assuming no redemptions.
• The business combination, which was recommended to RAC II’s board of directors (the “RAC II Board”) by RAC II’s management team, has been unanimously approved by the RAC II Board and is expected to close in the second quarter of 2023, subject to certain closing conditions, including receipt of approval by holders of a majority of the shares held by RAC II’s shareholders. The business combination was also recommended to NET Power’s board of directors (the “NET Power Board”) by NET Power’s management team and has been unanimously approved by the NET Power Board.

Advisors

Guggenheim Securities, LLC acted as lead financial advisor to RAC II. Barclays Capital Inc. also served as financial advisor to RAC II. Kirkland & Ellis LLP served as legal counsel to RAC II. Credit Suisse Securities (USA) LLC acted as financial advisor and capital markets advisor to NET Power. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel to NET Power. Barclays Capital Inc. and Citigroup Global Markets Inc. acted as capital markets advisors to RAC II. Barclays Capital Inc. and Citigroup Global Markets Inc. acted as lead placement agents and Credit Suisse Securities (USA) LLC acted as co-placement agent on the PIPE. Vinson & Elkins L.L.P. served as legal counsel to the capital markets advisors and placement agents.

Investor Presentation

For more information, please view the investor presentation on the NET Power website at https://netpower.com/investor-relations/. A recorded presentation from management discussing the business combination will also be available here on December 14^th at 7:03 am Eastern Time and a transcript of this webcast will be filed by RAC II with the SEC.

About NET Power

NET Power is a clean energy technology company with a mission to globally deliver the “Energy Trifecta”: Reliable, Clean, and Low-Cost power. The company invents, develops and intends to license technology that provides reliable, on-demand natural gas power with life cycle emissions that are approximately 90% below today’s combined cycle natural gas systems and in line with renewables coupled with batteries. The technology also delivers a levelized cost of energy that is below both combined cycle gas turbines with carbon capture and renewables coupled with batteries. Founded in 2010 and headquartered in Durham, North Carolina, NET Power has received strategic investments from key industry partners including Occidental, Baker Hughes, Constellation, and 8 Rivers.

About Rice Acquisition Corp. II

RAC II is led by Daniel Rice IV and Kyle Derham, former executives of Rice Energy, Inc. (“RICE”) and Rice Midstream Partners (“RMP”). In 2018 and 2019, RICE and RMP merged with EQT Corporation (NYSE: EQT) and EQT’s midstream affiliates for over $10 billion to become the largest U.S. natural gas producer. Rice Acquisition Corp. led a 2021 business combination with Archaea Energy LLC and Aria Energy LLC to create Archaea Energy, Inc. (NYSE: LFG), an industry-leading renewable natural gas platform that BP p.l.c. (NYSE: BP) agreed to acquire for a cash consideration of $4.1 billion in October 2022, generating a 2.6x return on investment for LFG PIPE investors in approximately one year. Daniel Rice currently serves on the board of EQT and Archaea Energy, Inc. The RAC II website is https://ricespac.com/rac-ii/.

Forward-Looking Statements

This communication may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the combined Company and the proposed transaction between NET Power and RAC II. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “seek,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) conditions to the completion of the proposed business combination and PIPE investment, including shareholder approval of the business combination, may not be satisfied or the regulatory approvals required for the proposed business combination may not be obtained on the terms expected or on the anticipated schedule; (ii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement between the parties or the termination of any PIPE investor’s subscription agreement; (iii) the effect of the announcement or pendency of the proposed business combination on NET Power’s business relationships, operating results, and business generally; (iv) risks that the proposed business combination disrupts NET Power’s current plans and operations; (v) risks related to diverting management’s attention from NET Power’s ongoing business operations; (vi) potential litigation that may be instituted against RAC II or NET Power or their respective directors or officers related to the proposed transaction or the business combination agreement or in relation to NET Power’s business; (vii) the amount of the costs, fees, expenses and other charges related to the proposed business combination and PIPE investment; (viii) risks relating to the uncertainty of the projected financial information with respect to NET Power or the combined Company; (ix) NET Power’s history of significant losses; (x) the combined Company’s ability to manage future growth effectively; (xi) the combined Company’s ability to utilize its net operating loss and tax credit carryforwards effectively; (xii) NET Power’s ability to continue as a going concern if the transactions contemplated herein are not completed; (xiii) the capital-intensive nature of NET Power’s business model, which may require the combined Company to raise additional capital in the future; (xiv) barriers the combined Company may face in its attempts to deploy and commercialize its technology; (xv) the complexity of the machinery NET Power relies on for its operations and development; (xvi) the combined Company’s ability to establish and maintain supply relationships; (xvii) risks related to NET Power’s arrangements with third parties for the development, commercialization and deployment of technology associated with NET Power’s technology; (xviii) risks related to NET Power’s other strategic investors and partners; (xix) the combined Company’s ability to successfully commercialize its operations; (xx) the availability and cost of raw materials; (xxi) the ability of NET Power’s supply base to scale to meet the combined Company’s anticipated growth; (xxii) risks related to NET Power’s or the combined Company’s ability to meet its projections; (xxiii) the combined Company’s ability to expand internationally; (xxiv) the combined Company’s ability to update the design, construction and operations of the NET Power technology; (xxv) the impact of potential delays in discovering manufacturing and construction issues; (xxvi) the possibility of damage to NET Power’s Texas facilities as a result of natural disasters; (xxvii) the ability of commercial plants using NET Power’s technology to efficiently provide net power output; (xxviii) the combined Company’s ability to obtain and retain licenses; (xxix) the combined Company’s ability to establish an initial commercial scale plant; (xxx) the combined Company’s ability to license to large customers; (xxxi) the combined Company’s or NET Power’s ability to accurately estimate future commercial demand; (xxxii) the combined Company’s ability to adapt to the rapidly evolving and competitive natural and renewable power industry; (xxxiii) the combined Company’s ability to comply with all applicable laws and regulations; (xxxiv) the impact of public perception of fossil fuel derived energy on the combined Company’s business; (xxxv) any political or other disruptions in gas producing nations; (xxxvi) the combined Company’s ability to protect its intellectual property and the intellectual property it licenses; (xxxvii) the ability to meet stock exchange listing standards following the consummation of the proposed business combination; (xxxviii) changes to the proposed structure of the proposed business combination that may be required or appropriate as a result of applicable laws or regulations, including recent proposals by the U.S. Securities and Exchange Commission (the “SEC”) or as a condition to obtaining regulatory approval of the proposed business combination; (xxxix) the impact of the global COVID-19 pandemic on any of the foregoing risks; and (xl) such other factors as are set forth in RAC II’s periodic public filings with the SEC, including but not limited to those described under the headings “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its subsequent quarterly reports on Form 10-Q, and in its other filings made with the SEC from time to time, which are available via the SEC’s website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and NET Power and RAC II assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither NET Power nor RAC II gives any assurance that either NET Power or RAC II, or the combined Company, will achieve its expectations.

Important Information about the Transaction and Where to Find It

This press release relates to a proposed business combination transaction involving NET Power and RAC II. In connection with the transaction, RAC II intends to file with the SEC a registration statement on Form S-4 that will include a proxy statement and prospectus (the “Proxy Statement/Prospectus”). This document is not a substitute for the Proxy Statement/Prospectus. The definitive Proxy Statement/Prospectus (if and when available) will be delivered to RAC II’s shareholders. RAC II may also file other relevant documents regarding the proposed transaction with the SEC. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SECURITY HOLDERS OF RAC II AND OTHER INTERESTED PARTIES ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT RAC II, NET POWER, THE TRANSACTION AND RELATED MATTERS.

Investors and security holders of RAC II may obtain free copies of the Proxy Statement/Prospectus, when available, and other documents that are filed or will be filed with the SEC by RAC II through the website maintained by the SEC at www.sec.gov or at RAC II’s website at www.ricespac.com/rac-ii.

Participants in the Solicitation

RAC II and NET Power and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from RAC II’s shareholders in connection with the transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction between RAC II and NET Power will be contained in the Proxy Statement/Prospectus, when available. You may obtain free copies of these documents as described in the preceding paragraph.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Investor Relations:
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917-439-9309

DUBLIN--(BUSINESS WIRE)--The "Integrated Bridge Systems Market by Ship Type, End User (Oem And Aftermarket), Sub-System (Ins, Automatic Weather Observation System, Voyage Data Recorder and Automatic Identification Systems), Component, Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The integrated bridge systems market is projected to grow from USD 6.1 Billion in 2022 to USD 7.9 Billion by 2027, at a CAGR of 5.4% from 2022 to 2027. Rising preference for maritime tourism is expected to drive the integrated bridge systems market growth during the forecast period.

According to a United Nations report in 2017, the population worldwide will go up to 8.6 billion by 2030, and most of the population growth will take place in Asian countries. This population explosion will mark a remarkable shift toward urbanization in China, Southeast Asian countries, Bangladesh, Nigeria, and Turkey. As eight out of 10 world's largest cities will become port cities, there will be tremendous opportunities for shipbuilding and marine technology business in the future. Today, with major importance being given to safety norms, the building of a new ship includes IBS and other related equipment. In addition, 65.31% of the world container port share volume is from China, and 14.39% is from Europe. Increasing population and growing GDPs have led to the development of some of the world's largest and busiest ports in Asian countries. As the number and size of these Asian ports grow, the integrated bridge system manufacturers for commercial ships mainly located in these countries will be at an advantage.

Besides, mergers, acquisitions, and contracts were among the key strategies adopted by leading players to sustain their position in the integrated bridge systems market. Apart from these strategies, key market players also engaged in new product launches. Companies such as Raytheon Technologies Corporation (US), Furuno Electric Co. Ltd. (Japan), Wartsila Corporation (Finland), and Kongsberg (Norway) have adopted the strategy of new product launches to develop their business and strengthen their product portfolio in the integrated bridge systems market.

Based on subsystem, the INS is expected to lead market with the largest share in 2022

Based on subsystem, the integrated bridge systems market has been segmented into integrated navigation system (INS), automatic weather observation system (AWOS), voyage data recorder (VDR), and automatic identification system (AIS). Among these, the INS segment registered largest share in the base year. The navigational safety of a vessel is given a lot of importance. With advancements in technology, systems such as integrated navigation systems have been developed to provide vessels with real-time navigation. The integrated navigation system is a part of the integrated bridge system. Components of the integrated navigation system include navigation/ARPA radar, electromagnetic log, differential global positioning system, ECDIS, gyro, echo sounder, transmitting magnetic compass, and autopilot. Other components can also be equipped with the system according to the requirement of the vessel. An increasing focus on the development of sense and avoid systems and demand for accurate and precise navigation for ships have driven the growth of the integrated navigation systems.

Based on Component, software segment registered largest share in base year

Based on component, the integrated bridge systems market has been classified into hardware and software. Hardware components include displays, controls, data storage devices, sensors, and alarms. Software is an integral part of the integrated bridge system and supports the overall operation and integration of different components of the system. It is an interface for the display of information. The market for software is projected to grow at a higher rate than hardware due to an increase in the adoption of advanced systems, which require the application of software to integrate with other integrated bridge systems.

Market Dynamics

Drivers

• Continuously Growing World Seaborne Trade
• Rising Preference for Maritime Tourism

Restraints

• Digitalization Leading to Cyber Threats

Opportunities

• Increase in Port Modernization and New Port Development Programs in Asian Countries
• Precise Navigational Safety Standards and Regulations

Challenges

• Lack of Skilled IBS Operators

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Integrated Bridge Systems Market, by Ship Type

8 Integrated Bridge Systems Market, by End-user

9 Integrated Bridge Systems Market, by Subsystem

10 Integrated Bridge Systems Market, by Component

11 Regional Analysis

12 Competitive Landscape

13 Company Profiles

14 Appendix

Companies Mentioned

• Alphatron Marine B.V.
• Consilium
• Danelec Marine A/S
• Furuno Electric Co. Ltd.
• Gem Elettronica Srl
• Hensoldt UK
• Japan Radio Co. Ltd.
• Kongsberg
• L3Harris Technologies, Inc.
• Mackay Communications, Inc.
• Marine Technologies LLC
• Naudeq
• Noris Group Gmbh
• Northrop Grumman Corporation
• PC Maritime Ltd
• Praxis Automation Technology B.V.
• Prime Mover Controls Inc.
• Raytheon Technologies Corporation
• Tokyo Keiki Inc.
• Wartsila

For more information about this report visit https://www.researchandmarkets.com/r/8q3vic

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The new biodiversity and water ambitions are introduced in a dedicated report that outlines PMI's approach to preserve nature, building on its 2025 Roadmap

LAUSANNE, Switzerland--(BUSINESS WIRE)--As world leaders gather at the UN Biodiversity Conference (COP15), Philip Morris International (PMI) (NYSE: PM) is proud to announce ambitions that align with the Post-2020 Biodiversity Framework.

The company’s new ambitions on biodiversity and water strengthen PMI’s actions to address the environmental impacts of its business operations, which it currently manages through two main strategies: Tackle Climate Change and Preserve Nature. PMI intentionally structured the new ambitions to maximize their impact around a 10-year span, from 2023 to 2033.

Detailing its strategy to Tackle Climate Change, PMI’s 2021 Low-Carbon Transition Plan brought forward the company’s ambitions to achieve carbon neutrality in its direct operations (scopes 1+2) by 2025, and to achieve carbon neutrality across its entire value chain (scopes 1+2+3) by 2040. In addition, it introduced a new goal for the company’s critical suppliers to adopt science-based targets (SBTs) by 2025, in line with the SBTs to which PMI has already committed.

To Preserve Nature, the company published its 2020 Zero Deforestation Manifesto, achieved zero gross deforestation of primary and protected forests, and is working towards achieving zero net deforestation of managed natural forests and having a net positive impact on forests associated with the tobacco supply chain by 2025. In its paper and pulp-based materials supply chain, the company targets zero gross deforestation of primary and protected forests by 2025, as well as zero net deforestation of managed natural forests and no conversion of natural ecosystems by 2030.

Perfect Forest™
PMI is pleased to be at the forefront of promoting the sustainable management of forests and is encouraged that respected stakeholders recognize the importance of what the company is doing. Perfect Forest™ is the name of PMI’s operating nature-based solutions (NbS) projects to preserve forest resources. PMI believes that a constant effort at the landscape level is key in transforming the relationship the company has with forest ecosystems and local stakeholders, where “perfection” is the mutual contribution between the protection of nature and the resulting ecosystem services generated by it. In particular, Perfect Forest™ generates carbon sequestration, enhancing the potential of forestry systems to deliver sustainable forest products and social benefits. It also creates the conditions for protecting water resources, balancing soil elements, and preserving natural habitats—key to supporting biodiversity.

PMI’s New Ambitions to Preserve Nature
Biodiversity

• Protect nature by achieving no net loss on ecosystems connected to PMI’s value chain by 2033
• Contribute towards a net positive impact on nature by 2050

Water stewardship

• Scale solutions towards a positive impact on water resources, measured as volume of water optimized and restored, by 2033
• Contribute towards a positive impact on water resources by 2050

“As our new ambitions demonstrate, PMI understands that decarbonization, biodiversity protection, forestry management, and water stewardship are deeply connected. We aspire to lead by example in the responsible and sustainable management of natural resources that can allow the promotion and protection of natural ecosystems,” said Jennifer Motles, Chief Sustainability Officer. “It is important to recognize the linkages between biodiversity loss and vulnerability to climate change, and how these could exacerbate poverty and inequality. Adaptation strategies that promote the protection, preservation, and efficient use of natural resources help us build preparedness to manage potential environmental impacts that could affect our business.”

PMI’s strategies to Tackle Climate Change and Preserve Nature have been recognized by CDP, a not-for-profit charity that runs a global disclosure system for investors, companies, cities, and regions to manage their environmental impacts. As of Dec. 13, 2022, PMI has been honored with the Triple A score for its efforts across climate, forests, and water stewardship. The ranking places PMI among one in 1,000 companies worldwide to achieve the prestigious Triple A score and among the world's most pioneering companies leading on environmental transparency and performance.

“Natural capital is a wealth we all share and depend on. It is essential that we do our part to protect, sustainably manage, and nurture it—and we’re proud that CDP has once again recognized PMI’s efforts to do exactly that,” explained Massimo Andolina, SVP, Operations. “Further, preserving natural ecosystems by properly managing land and water resources helps increase the resilience of our production systems and reduce operational risks.”

Through its Integrated Report and CDP submissions, PMI seeks to align with and is proud to support the Task Force on Climate-Related Financial Disclosures (TCFD). Also reflected in the company’s Triple A rating from CDP are PMI’s contributions to the development of the parallel Task Force on Nature-Related Financial Disclosures (TNFD). TNFD centers on the importance of protecting ecosystems and promoting biodiversity. It states that its mission is, in part, “to develop and deliver a risk management and disclosure framework for organizations to report and act on evolving nature-related risks.”

Visit pmi.com/sustainability for more information and read PMI’s dedicated disclosure focused on Preserve Nature, published today. To learn more about PMI’s overall approach to sustainability, please refer to its latest Integrated Report 2021.

Philip Morris International: Delivering a Smoke-Free Future
Philip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor and oral nicotine products, which are sold in markets outside the U.S. Since 2008, PMI has invested more than USD 9 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. The U.S. Food and Drug Administration (FDA) has authorized the marketing of versions of PMI’s IQOS Platform 1 devices and consumables as a Modified Risk Tobacco Products (MRTPs), finding that an exposure modification orders for these products are appropriate to promote the public health. As of September 30, 2022, excluding Russia and Ukraine, PMI's smoke-free products are available for sale in 70 markets, and PMI estimates that approximately 13.5 million adults around the world had already switched to IQOS and stopped smoking. With a strong foundation and significant expertise in life sciences, in February 2021, PMI announced its ambition to expand into wellness and healthcare areas and deliver innovative products and solutions that aim to address unmet consumer and patient needs. For more information, please visit www.pmi.com and www.pmiscience.com.

Forward-Looking and Cautionary Statements
This press release contains projections of future results and goals and other forward-looking statements, including statements regarding operational plans and strategies. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.

PMI's business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns relating to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; litigation related to tobacco use and intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; the impact and consequences of Russia's invasion of Ukraine; changes in adult smoker behavior; the impact of COVID-19 on PMI's business; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and effectiveness of its data privacy policies. PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to produce and commercialize reduced-risk products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships; or if it is unable to attract and retain the best global talent, including women or diverse candidates. Future results are also subject to the lower predictability of our reduced-risk product category's performance.

In addition, important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties related to: the agreement with Altria and the benefits of the transaction; the possibility that expected benefits related to recent or pending acquisitions, including the transaction with Swedish Match, may not materialize as expected; the proposed transaction with Swedish Match not being timely completed; Swedish Match’s business experiencing disruptions due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with employees, customers, licensees, other business partners or governmental entities; difficulty retaining key Swedish Match employees; the outcome of any legal proceedings related to the proposed transaction with Swedish Match; and the parties being unable to successfully implement integration strategies or to achieve expected synergies and operating efficiencies within the expected time-frames or at all.

PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI's Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2021 and the Form 10-Q for the quarter ended September 30, 2022. PMI cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that it may make from time to time, except in the normal course of its public disclosure obligations.

# # #

Philip Morris International
David Fraser
T. +41 (0)58 242 4500
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DUBLIN--(BUSINESS WIRE)--The "Digital Shipyard Market By Type, By Technology, By Capacity, By Digitalization Level: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

This report incorporates the study of the global digital shipyard market that focuses on the digitalization & adoption of different automation process for shipyards. The digital shipyard is highly employed in the marine sector to address operational efficiency & effectivity and ensure the industry is safer, faster, and smarter. It provides software and technology such as enterprise resource planning (ERP), manufacturing execution system (MES), computer aided-designing (CAD), and product lifecycle management (PLM).

This has led to rise in investments in modernization of facilities to increase productivity and reduce budgets, man power, as well as timelines. Currently, the market statistics are improving as a result of gradually developing technology supported by the shipping sector, followed by integration and advancement.

Technology companies' efforts to build and combine multiple processes for the shipping sector are beginning to pay dividends. For instance, in February 2020, PROSTEP AG launched digital twin technology to optimize shipbuilding in its ProProS research project in partnership with the Machine Tool Laboratory (WZL) at RWTH Aachen University. This technology offers the planning data from the target process (product structure, work orders, assembly sequence, scheduling, etc.) in a consistent data model and compares it in real time with the actual data from production and assembly.

The factors such as increase in demand for cargo ships due to increased maritime trade, rise in environmental concerns worldwide to lower the carbon footprint generated in the shipping industry, and a rise in adoption of digital twin technology supplement the growth of the digital shipyard market.

However, high cost of digitalization and training cost products and complexity associated with the systems are the factors expected to hamper the growth of the digital shipyard market.

Rising implementation of robot technology in shipbuilding industry and increasing use of industrial internet of things (IIoT) are expected to create ample opportunities for the key players operating in the digital shipyard market.

Key Market Segments

By Type

• Military Shipyards
• Commercial Shipyards

By Technology

• Artificial Intelligence Big Data Analytics
• Robotic Process Automation
• AR VR
• Others

By Capacity

• Large Shipyards
• Small Shipyards
• Medium Shipyards

By Digitalization Level

• Semi-digital Shipyard
• Fully-digital Shipyard

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Italy
• Greece
• Norway
• Denmark
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Accenture
• Altair Engineering, Inc.
• Aras Corporation
• AVEVA Group Plc
• BAE Systems
• Damen Shipyards Group
• Dassault Systemes
• Hexagon
• Ibaset
• Inmarsat Plc.
• Kranendonk Smart Robotics
• Pemamek Ltd.
• SAP
• Siemens
• Wartsila
• Kreyon Systems Pvt Ltd. (Key Innovators)
• Prostep AG (Key Innovators)

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: DIGITAL SHIPYARD MARKET, BY TYPE

CHAPTER 5: DIGITAL SHIPYARD MARKET, BY TECHNOLOGY

CHAPTER 6: DIGITAL SHIPYARD MARKET, BY CAPACITY

CHAPTER 7: DIGITAL SHIPYARD MARKET, BY DIGITALIZATION LEVEL

CHAPTER 8: DIGITAL SHIPYARD MARKET, BY REGION

CHAPTER 9: COMPANY LANDSCAPE

CHAPTER 10: COMPANY PROFILES

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 20,689,655 common shares (“Shares”) at a price of $72.50 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $1.5 billion of its Shares. All amounts are in Canadian dollars.

The Shares purchased represent an aggregate purchase of $1.5 billion and 3.4 percent of the total number of Imperial’s issued and outstanding Shares as of the close of business on October 31, 2022. Immediately following completion of the Offer, Imperial has 584,152,718 Shares issued and outstanding.

A total of 6,289,510 Shares were taken up and purchased pursuant to auction tenders at or below the Purchase Price and pursuant to purchase price tenders. Since the Offer was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders had approximately 45 percent of their tendered Shares taken up by Imperial (other than “odd lot” tenders, which were not subject to proration). 14,400,145 Shares were taken up and purchased pursuant to proportionate tenders.

Exxon Mobil Corporation (“ExxonMobil”), Imperial’s majority shareholder, made a proportionate tender under the Offer in order to maintain its proportionate Share ownership at approximately 69.6 percent, resulting in 14,399,985 Shares being taken up pursuant to the Offer. Immediately following completion of the Offer, ExxonMobil holds 406,569,870 Shares.

Imperial has accepted the Shares tendered for purchase and has made payment for the Shares by delivering the aggregate purchase price to Computershare Investor Services Inc., the depositary for the Offer (the “Depositary”). Payment and settlement with shareholders will be effected by the Depositary on or about December 20, 2022, all in accordance with the Offer and applicable law. Any Shares not purchased, including such Shares not purchased as a result of proration or Shares tendered pursuant to auction tenders at prices higher than the Purchase Price or invalidly tendered, will be returned to shareholders as soon as practicable.

To assist shareholders in determining the tax consequences of the Offer, Imperial estimates that a deemed dividend in the amount of $70.75 per Share was triggered on the repurchase of each Share, based on the estimated paid-up capital of $1.75 per Share at December 9, 2022. The dividend deemed to have been paid by Imperial to Canadian resident persons is designated as an “eligible dividend” for purposes of the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.

For the purposes of subsection 191(4) of the Income Tax Act (Canada), the “specified amount” in respect of each Share is $68.22.

Shareholders should consult with their own tax advisors with respect to the income tax consequences of the disposition of their Shares under the Offer.

Imperial retained RBC Capital Markets to act as financial advisor and dealer manager in connection with the Offer.

The full details of the Offer are described in the offer to purchase and issuer bid circular dated November 4, 2022, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.

Imperial is one of Canada’s largest integrated oil companies. It is active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil and natural gas. In Canada, it is a major producer of crude oil, the largest petroleum refiner and a leading marketer of petroleum products. It is also a major producer of petrochemicals. The company’s operations are conducted in three main segments: Upstream, Downstream and Chemical.

Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, expect, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this release include, but are not limited to, references to timing of payment and settlement with shareholders by the Depositary; the return of Shares not purchased; the estimated paid-up capital per Share; and the estimated deemed dividend triggered on the repurchase of each Share.

Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual results, including expectations and assumptions could differ materially depending on a number of factors. These factors include those discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.

Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Source: Imperial

Investor Relations
(587) 476-4743

Media Relations
(587) 476-7010

PARIS--(BUSINESS WIRE)--#carbonemissions--Everimpact, a Climate tech start-up founded by former UN execs and headquartered at Station F (Paris), closes a €1.711M seed funding round backed by leading VCs, corporate ventures and institutions to better measure carbon emissions and allow cities and high emitters to access climate finance to fund impactful climate projects.

The round, led by Motion ventures, includes international organizations, transport companies and impact investors; EU Commission (Climate-Kic and EIT Urban Mobility), Asian Development Bank (ADB Ventures), Transport Companies' VCs and CVCs (Wilhelmsen, Transport Capital, IMC Ventures, MOL PLUS, Blue Star Group) and Impact investors (Rainmaking Impact).

While greenhouse gas emissions (GHG) have been increasingly under scrutiny in the past years, they are mainly self-reported by emitters, based on estimates and updated once a year at best.

Everimpact’s carbon Monitoring, Reporting, and Verification (MRV) platform allows cities and organisations to measure GHG emissions more accurately and in real time, thanks to satellite, ground sensors, and AI data.

Everimpact also certifies carbon emissions and sequestration data to allow cities and industries to better identify reduction opportunities and access carbon finance to fund projects with a demonstrable climate impact.

The start-up is already working with the cities of Dijon (France) with EDF and British cities - in partnership with BT - to monitor and monetise their emissions. Several other cities from the Net Zero City initiative have expressed interest since attracting funding into transport, waste and building decarbonisation is key to successfully implement City Climate contracts. In Japan, Everimpact is partnering with Hitachi Systems to monitor carbon sequestration in municipal forests.

The backing of Everimpact by maritime and supply chain leaders also involves an engineering collaboration aiming at installing its solution onboard vessels to accurately measure their emissions and get access to carbon markets to finance decarbonisation.

This will help the shipping industry accelerate its decarbonisation while complying with significant changes in its environmental regulation such as the Carbon Intensity Indicator rating kicking in 2023 and the inclusion of maritime emissions in the EU Emissions Trading Systems in the next two years.

The funding will be used to expand carbon monitoring and monetisation capabilities in cities at a global level and expand the shipping measurement solution currently trialed on a Mitsubishi Corporation Group vessel and available through an Early Adopter Program.

Mathieu Carlier, CEO and Founder at Everimpact

“Cities and high emitters have a crucial role to play to accelerate the transition to a low carbon world. Thanks to Everimpact's innovative carbon tracking system, they are now able to move away from estimates to monitor their carbon footprint in real time, identify the best opportunities to cut emissions, and access new funding for their decarbonisation projects. We’re excited to partner with leading global organisations and investors to accelerate our development.”

Nicklas Viby Fursund, General Partner of Motion Ventures said: “Bringing together those from the public and private sector with the most influence on maritime and global supply chains is unprecedented. The pairing of the engineering collaboration and strategic capital is not just a milestone for Everimpact but a proof point for a consortium approach to innovation.”

About Everimpact

Everimpact helps cities and businesses accurately measure their greenhouse gas emissions, identify opportunities to reduce emissions, and finance required investments through the carbon markets.

While most cities and businesses report GHG emissions based on estimates, Everimpact IoT software combines satellite, ground sensors, and AI data to precisely measure emissions in real-time.

Contact for further information - Everimpact (everimpact.com)
Marie Geneste, Chief Marketing Officer
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As the Only European Provider of Cerebras Cloud, Green AI Cloud Delivers AI Super Compute in an Easy-to-Use Solution for AI and ML Applications, Data Science and Simulation Workloads

SUNNYVALE, Calif. & STOCKHOLM--(BUSINESS WIRE)--#AI--Cerebras Systems, the pioneer in high performance artificial intelligence (AI) compute, and Green AI Cloud, the most sustainable super compute platform in Europe, today announced the availability of Cerebras Cloud at Green AI. As the first cloud computing provider in Europe to offer the industry-leading CS-2 system, Green AI customers now can easily train GPT-class models much faster than traditional cloud service providers and with significantly less environmental impact.

The Green AI Cloud is a pioneer in clean energy compute. The Green AI Cloud uses only renewable energy (Hydro and Wind Power) in its datacenter placed in the north of Sweden and converts the excess heat from operations into a heated liquid for industrial product manufacturing – resulting in a negative CO2 footprint. With its new Cerebras Cloud offering, customers can now train leading generative Transformer (GPT)-class models, including GPT-J, GPT-3 and GPT-NeoX, with the promise of equivalent carbon offsets through Green AI’s uniquely sustainable and “carbon-intelligent” cloud.

“We are thrilled to offer our customers access to the industry-leading CS-2 system, powered by the 850,000 AI core WSE processor, which will greatly reduce their initial programming work and enable easy integration with existing workflows,” said Jacob Bostrom, Founder and CEO of Green AI Cloud. “By providing the latest and fastest AI technology through our partnership with Cerebras, we continue to not only drive the future of AI innovation, but also the next era of sustainability and environmental responsibility.”

Energy Efficiency and CO2 Reduction – Examples

• Cerebras CS-2 is 3,5 times more energy efficient than NVIDIA® A100 for multi-billion parameter NLP models, including GPT-J, GPT-3 and GPT-3XL.
• Cerebras CS-2 is 6 times more energy efficient than NVIDIA V100 for AI model 'BERT Base' (according to University of Massachusetts Amherst and MIT Technology Review).
• Using Green AI Cloud compared to other European Cloud providers when training a single deep learning AI transformer model, the resulting carbon offset is equivalent to the annual CO2 absorption from 11 000 trees!

Safeguarding Data Security and Privacy Regulations

The EU has some of the strictest data privacy and security rules in the world. A cloud provider based in the EU, such as Green AI Cloud, enables customers across the EU to benefit from Cerebras’ industry-leading AI compute and stay within the data privacy structures. Customers across segments, from pharmaceutical to finance services, and energy to heavy manufacturing, now have push-button access to the Cerebras CS-2 system and can use it by the day, week, or month.

“Cerebras is committed to delivering AI compute – via cloud, on premise or hybrid – to our customers around the world in the most environmentally efficient way possible,” said Andrew Feldman, co-founder and CEO, Cerebras Systems. “As the leader in energy efficient AI compute, it was an obvious choice to partner with and deliver AI compute to the Green AI Cloud.”

Cerebras recently announced its AI Model Studio, as well as partnerships and wins with Sandia National Laboratory and generative AI pioneer Jasper. At the NeurIPS Conference earlier this month, Cerebras broke new ground demonstrating high sparsity training on GPT class models, showing that GPT models can be trained at 90% sparse, using a fraction of the FLOPs and time, and still achieve the same accuracy.

With customers in North America, Asia, Europe and the Middle East, Cerebras is delivering industry leading AI solutions to a growing roster of customers in the enterprise, government, and high-performance computing (HPC) segments, including Jasper, GSK, AstraZeneca, TotalEnergies, nference, Argonne National Laboratory, Lawrence Livermore National Laboratory, Pittsburgh Supercomputing Center, Leibniz Supercomputing Centre, National Center for Supercomputing Applications, Edinburgh Parallel Computing Centre (EPCC), National Energy Technology Laboratory, Sandia National Laboratory, and Tokyo Electron Devices.

For more information, please visit https://greenai.cloud/.

About Green AI Cloud

Green AI Cloud - a European Cloud Service Provider offering AI Super Compute for the largest AI models available. Green AI Cloud delivers superior cost efficiency while being the greenest CSP in Europe – fully capitalizing on its location in the northern part of Sweden that gives access to green energy, carbon offset facilities and world leading datacenter infrastructure.

About Cerebras Systems

Cerebras Systems is a team of pioneering computer architects, computer scientists, deep learning researchers, and engineers of all types who have come together to build a new class of computer system. That system is designed for the singular purpose of accelerating AI and changing the future of AI work forever, enabling customers to accelerate their deep learning work by orders of magnitude.

Kim Ziesemer
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DUBLIN--(BUSINESS WIRE)--The "Global Solar PV Inverter Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

This study covers the advantages and disadvantages of several inverter types and the parameters that developers consider when choosing inverters.

Solar PV is the most advantageous of renewable power sources. In most parts of the world, light is abundant throughout the year, and solar PV is a low-investment, minimal-maintenance option. Unlike wind farms that require extensive land, resource optimization is possible with solar PV. In addition, developers can execute projects in as quickly as 3 months, a turnaround time which they can leverage during energy crises, such as the one being experienced in Europe.

Advancement of storage technologies has further strengthened the case for PV with variability in production having been a major source of concern in the past. Inverters are critical components of solar PV systems and determine the efficiency and longevity of PV assets. Choice of inverters is a major decision in PV projects, and inverters are allocated about 6% to 11% of the installed costs.

This study also analyzes drivers of the global demand for solar PV inverters, trends shaping the market, and challenges that stakeholders face.

It identifies global PV hotspots for the consideration of new market entrants or existing participants, growth opportunities and revenue potential that participants can capitalize and analyzes the competitive environment across the value chain. Revenue potential is segmented by geography, end user, and inverter type.

Key Issues Addressed

• What is the status of the global solar PV inverter market?
• What are the key drivers and restraints affecting the market? What are the competitive factors in this market?
• Is the market growing? how long will it continue to grow and at what rate?
• Are key regulations affecting not just the solar PV market but also the inverter market?
• Which are the key growth regions for solar PV that market participants can consider for expansion?
• Who are the key market participants and what are their strategies? What does the competitive landscape look like?
• How are revenues likely to change over the course of the next few years?
• What are the avenues available for strategic investment in the global solar PV inverter market? How best can key stakeholders benefit from them?

Key Topics Covered:

1. Strategic Imperatives

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top 3 Strategic Imperatives on the Global Solar Photovoltaic (PV) Inverters Market
• Growth Opportunities Fuel the Growth Pipeline Engine
• Key Findings

2. Growth Opportunity Analysis

• Scope of Analysis
• Global Solar Inverters Market Segmentation
• Inverter Classifications
• Comparison of Inverters
• Inverter Purchase Parameters
• What Impacts Inverter Reliability?
• Types of IGBT Failure
• Types of Capacitor Failure
• Compliance and Failure Avoidance
• Top Value Chain Participants
• Key Competitors (By Technology/End Users)
• Key Competitors (By Additional Features)
• Growth Metrics
• Distribution Channels
• Growth Drivers
• Growth Restraints
• Global Solar PV Capacity Additions (2022-2030)
• Trends
• Digital Inverters
• Digital O&M
• Growth Strategy Trends
• The Push for Local Manufacturing
• Hybrid Inverters and String Inverters to Dominate
• Forecast Assumptions
• Revenue and Unit Shipment Forecast
• Revenue Forecast by Inverter Type
• Unit Shipment Forecast by Inverter Type
• Revenue Forecast by Region
• Unit Shipment Forecast by Region
• Revenue Forecast by End User
• Unit Shipment Forecast by End User
• Revenue Forecast Analysis

3. Regional Analysis

Revenue Forecast Analysis - North America

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Revenue Forecast Analysis - Europe

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Revenue Forecast Analysis - LATAM

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Revenue Forecast Analysis - APAC

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Revenue Forecast Analysis - The Middle East

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Revenue Forecast Analysis - Africa

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Revenue Forecast Analysis - Russia and CIS

• Revenue and Unit Shipment Forecast
• Revenue Forecast by Country
• Revenue Forecast by Inverter Type
• Revenue Forecast by End User
• Unit Shipment Forecast by Country
• Unit Shipment Forecast by Inverter Type
• Unit Shipment Forecast by End User

Pricing Trends and Forecast Analysis

• Competitive Environment
• Revenue Share - Solar Inverters

4. Growth Opportunity Universe

• Growth Opportunity 1: Vertical Market Expansion
• Growth Opportunity 2: Geographic Expansion
• Growth Opportunity 3: Silicon Carbide/Gallium Nitride Converters
• Growth Opportunity 4: Inverter with PID Control
• Growth Opportunity 5: Attractive Financing Options/Off-balance-sheet Asset Arrangement

For more information about this report visit https://www.researchandmarkets.com/r/qt2jmy

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Kingdom of Tonga and Government of Tuvalu Sign Historic Blue Planet Climate Agreement Committing to Change

HONOLULU--(BUSINESS WIRE)--Blue Planet Alliance (BPA) today announced its official launch, with a goal to support Small Island Developing States (SIDS) in the commitment to legislatively mandate 100% renewable energy by 2045 via the Blue Planet Climate Agreement. Tonga and Tuvalu are the first two island nations to sign the agreement at COP27, respectively, with more commitments following in the coming months. Led by Henk Rogers — visionary and advocate for climate action — BPA is paving the way for governments, businesses, and individuals to grow a global movement aimed at reducing the negative impact of fossil-fuel emissions on the planet.

Blue Planet Alliance catalyzes climate ambition through policy work, community-based solutions, and youth-led advocacy. The organization builds on the pivotal climate change policies and initiatives of its sister organization, Blue Planet Foundation, which helped successfully navigate and pass the nation’s first 100% renewable-energy law, requiring the State of Hawaii to commit to 100% clean energy by 2045.

“The time is now,” says Henk Rogers, founder of BPA. “Everyone is aware that fossil fuels threaten life on our planet in a critical way, but few are willing to put a time stamp on mandating action. We are advocating for 100% commitment to renewable energy by 2045 because environments and economies depend on it for sustainability. As more island nations sign the Blue Planet Climate Agreement, we are setting a goal to work together with greater strength in advocacy and create a ripple effect toward a more sustainable and livable future.”

At COP27, on November 12, Tonga became the first country to sign the Blue Planet Climate Agreement, committing to 100% Renewable Energy by 2045. Tuvalu followed suit on November 14 at BPA’s UNFCCC press conference, signing the Blue Planet Climate Agreement and committing to 100% renewable energy by 2030.

Greater than the risks posed to larger countries, the threats to smaller islands are catastrophic, posing risks to food security, fisheries, and agriculture. As sea levels rise, island nations are at risk of losing coastal arable land to degradation as well as salination. SIDS are also most impacted by the costs of fossil fuels, often being forced to spend billions of dollars annually to import energy, when access to more cost-effective renewable resources — such as solar, wind, geothermal, biomass, hydro, and wave power — are readily available locally.

Utilizing a mandate-first approach to spark action, BPA is providing support to countries eager to join the movement by uniting nations around the globe with a focus on three pillars:

• Policy Work: BPA takes a legislative-mandate approach to initiating global climate change action, aiming to create measurable and scalable initiatives and results among individuals, organizations, cities, states, countries, and eventually, the planet. BPA works diligently with stakeholders to successfully pass laws that require government commitment to 100% renewable energy and drive policies to shape a future with clean energy.
• Community-based solutions: BPA shares lessons-learned to support the “United People” motto – a bottom-up approach to community engagement that plays a pivotal role in solving the climate crisis. Every action taken by students, teachers, stakeholders and residents contributes to the goal of achieving the 100% renewable energy future for all islands and countries.
• Youth-led advocacy: The Blue Planet Global Ambassador Program (BPGA) was created to empower young leaders ages of 16 to 30 to engage in global activism to help countries across the globe achieve a mandate of 100% renewable energy by 2045. Participating in meetings and updates from BPA leaders, BPGA places specific emphasis on the advancement of the UN Sustainable Development Goals, particularly SDG 7 (Clean and Affordable Energy), SDG 14 (Life Below Water), and SDG 17 (Partnerships).

BPA encourages all island nations and large countries to make the commitment to reach the goal of 100% renewable energy by 2045, by working with business, governments, and leaders alike. In order to bring this dire change to fruition, both BPA and the individual island nations are calling for funds from corporations and their country’s leadership. To learn more about Blue Planet Alliance or become a grantee, please visit: https://blueplanetalliance.org/.

About Blue Planet Alliance

Blue Planet Alliance is a 501(c)(3) organization established in 2020 by visionary entrepreneur and leading climate change advocate Henk Rogers. With support from partner organizations around the globe, the mission of Blue Planet Alliance is to get islands and countries around the world to legislatively mandate a commitment to 100% renewable energy by 2045. It is also working with governments, businesses, and individuals to help grow a global movement aimed at reducing the negative impact on the planet, thus aligning human behavior more in harmony with nature. For more information, visit blueplanetalliance.org/.

Alexis Roberts
Purpose Worldwide for BPA
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DUBLIN--(BUSINESS WIRE)--The "India Instrumentation Valves And Fitting Market: Size, Forecast, Share, Growth, Revenue, Trends, Industry, Outlook & COVID-19 IMPACT: Market Forecast By Valve Types, By Fitting Types, By Regions, And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

Market revenue size is projected to grow at a CAGR of 11.6% during 2022-2028.

India Instrumentation Valves and Fittings (CNG Industry) Market report thoroughly covers market by valve types, fitting types, and regions.

The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Instrumentation Valves and Fittings (CNG Industry) Market Synopsis

India instrumentation Valves and Fittings (CNG Industry) market was growing significantly before 2020 on account of government increased in expenditure on infrastructure development activities such as expansion national gas grid and city gas distribution. However, the market saw a sharp decline in 2020 due to the COVID-19 pandemic which resulted in the delay of many large-scale infrastructure development projects, thereby negatively affecting the demand for instrumentation valves and fittings.

However, government's aim to diversify the India's energy basket and higher adoption of natural gas to make India self-reliant to become less dependent on other countries for India's oil and gas requirements would drive the instrumentation valves and fittings market in India.

In year 2020, the spread of the COVID-19 pandemic has resulted in slowdown of the overall economy leading to the temporary halt in many construction projects across the country, thereby impacting the instrumentation valves and fittings market in India. However, the market has regained momentum in 2021 and is expected to grow significantly in the coming years.

India is a prominent market for instrumentation valves and fittings due to strong demand from the oil & gas sector and the strengthening industrial sector. Furthermore, increased investment in exploration and production activities of oil & gas have propelled the demand in recent years and the same trend is set to follow in the forecast period.

Market by Fitting Types Analysis

In terms of fitting types, tube fitting segment has captured 38.4% of the market revenue in 2021. Tube fitting segment acquired highest share in the India instrumentation valves and fittings (CNG Industry) market in 2021 in terms of revenue on account of its higher resistance and strength in higher pressure and temperature conditions. Furthermore, tube fittings offer greater flexibility in systems with fewer connections, meaning fewer potential leak points

Market by Valve Types Analysis

In terms of valve types, ball valves have captured 29.9% of the market revenue in 2021. ball valves accounted for the major market revenue share in 2021 owing to its minimal pressure drops, minimal leakage through wear & tear and time & labor effective to operate along with low maintenance cost. Furthermore, ball valves come in a range of configurations to suit various specifications and can deliver ideal performance in hydrocarbon systems, as well as vapor, air, and gas systems.

Key Highlights of the Report

• India Instrumentation Valves and Fittings (CNG Industry) Market Overview
• India Instrumentation Valves and Fittings (CNG Industry) Market Outlook
• India Instrumentation Valves and Fittings (CNG Industry) Market Forecast
• Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues for the Period 2018-2028F
• Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Types for the Period 2018-2028F
• Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Valve Types for the Period 2018-2028F
• Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Fitting Types for the Period 2018-2028F
• Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Regions for the Period 2018-2028F
• Market Drivers and Restraints
• Market Trends
• Industry Life Cycle
• India Instrumentation Valves and Fittings (CNG Industry) Market - Porter's Five Forces
• Market Opportunity Assessment
• Company Revenue Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Company Profiles

• Swagelok Company
• Parker Hannifin India Pvt.Ltd.
• Panam Engineers Ltd.
• Emerson Electric Co.
• AVK Valves India Pvt Ltd
• HAVI Engineering India Pvt. Ltd.
• L&T Valves Limited.
• PMT Valves Pvt Ltd
• CRANE Instrumentation & Sampling PFT Corp.
• HP Valves & Fittings India Private Limited
• DK-Lok Corp.

Market Scope and Segmentation

By Valve Types

• Needle Valves
• Manifold Valves
• Ball Valves
• Check Valves
• Diaphragm Valves
• Other Valves

By Fitting Types

• Pipe Fitting
• Tube Fitting
• Weld Fitting
• Biopharm Fitting
• Hose Fitting
• Other Fitting

By Regions

• Northern Region
• Southern Region
• Eastern Region
• Western Region

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON & STOCKHOLM--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), through its Chevron New Energies business, and Baseload Capital have announced a joint venture to develop geothermal projects in the United States. The two companies will collaborate on driving geothermal opportunities – including identifying the best prospects for development, operations and progressing the next generation of geothermal technologies from pilot to commercial scale. Through this agreement, Chevron and Baseload Capital will work together to create awareness around geothermal energy which will be a critical supply option for renewable energy.

Geothermal energy provides baseload, reliable power – and will be a critical element in developing the energy systems of the future. Chevron and Baseload Capital believe that to reach a lower carbon future, all forms of energy will be required, and geothermal power provides a reliable source of renewable power that will also enable other lower carbon solutions.

The joint venture aims to leverage the companies’ geothermal operational experience, combined with core competencies from the traditional oil and gas sector, especially around subsurface, wells, drilling and completions, to advance scalable novel geothermal technologies to tap into the earth’s core heat.

The first project Chevron and Baseload Capital have identified is in Weepah Hills, Nevada, USA. The two companies will pursue development opportunities in Esmeralda County where previous geothermal research and advanced exploration already exist.

“We are pleased to be partnering with Baseload Capital on this joint venture and believe we are in a prime position to lead in the geothermal space where we will lean on our experience and technical strengths. We believe that to make the geothermal ecosystem a reality, we must take these important steps through collaboration and partnership, and this example with Baseload Capital is a great start towards pursuing our lower carbon goals for the future,” said Barbara Harrison, Vice President, Offsets and Emerging, at Chevron New Energies.

The relationship between Chevron and Baseload Capital dates to 2021 when Chevron Technology Ventures invested in Baseload Capital and began a pilot utilizing waste heat from existing oilfield operations at Chevron’s San Ardo oil and gas field in California, USA. The pilot, which started operations in July 2022, demonstrates the potential of using existing oil and gas wells, and process heat for reliable and cost-effective lower-carbon power production.

“It is time for the geothermal industry to take its place as an obvious part of the energy mix. Geothermal should be the new normal, becoming as standard to the energy mix as GORE-TEX is for outdoor clothes. Right now, everything is in the industry’s favor to move from niche to mainstream. We have no time to waste and no excuse for not picking up the pace here and now. Together with Chevron we believe that the transition to a greener planet, with the help of geothermal, is going to be much faster,” said Alexander Helling, CEO at Baseload Capital.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Baseload Capital

Baseload Capital is a specialized investment entity that funds the deployment of geothermal worldwide. Our portfolio of companies in Iceland, Japan, Taiwan and the U.S. work with local communities and power companies to permit, build and commission geothermal power plants. Geothermal is an affordable form of renewable energy that can be harnessed from the heat beneath our feet. By applying innovative financing structures to help our local operators build and run the heat power plants, Baseload Capital can help nations quickly transition away from fossil fuels and toward energy independence. The result will lead to more resilient societies and a planet in balance.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; higher inflation and related impacts; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Chevron

Kelly Russell
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Baseload Capital

Kristina Hagström Ilievska
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Divestiture frees up Emory to focus its resources in Southwestern and Southeastern United States

DES MOINES, Iowa--(BUSINESS WIRE)--Emory Industrial Services Inc. (“Emory”), a market leader in a variety of industrial services, robotics services and dry ice manufacturing, announced it has sold its Midwest Division to Minnesota-based Premium Plant Services Inc. (“Premium”). This sale enables Emory to consolidate a large majority of its resources in the Southwestern and Southeastern United States, as these two regions currently produce well over 80 percent of Emory’s annual revenue.

Back in early September, Emory officially moved its headquarters from Des Moines, Iowa, to Abilene, Texas. This move was made in recognition of the substantial customer base the company has built in various southern states since Emory’s founding just over four years ago. Emory’s divestiture of its Midwest Division is just one of several moves the company is making to better position itself for the future.

“It was a difficult decision to sell our Midwest Division. Our team has been doing a solid job growing the business, but our board determined the deal with Premium made sense,” said Harley Burnett, Emory’s new chairman and CEO. “We can now focus our full attention on several southern states where most of our revenue is generated, along with building out our robotics services business and our ever-growing dry ice manufacturing business.”

Burnett continued, “Our Midwest customers are in great hands with Mark Parenteau and the rest of his team at Premium, and our former Emory staff will do a great job at Premium. They know the market well and they will continue to provide exceptional customer service.”

Travis Correll, chief operating officer for Emory, agreed with Burnett’s assessment of the Midwest Division sale, but also emphasized the importance of it in relation to the company’s long-term growth moving forward.

“A laser-like focus must permeate every aspect of our business going forward, as our financial performance depends on it,” stated Correll. “This deal offers us a more geographic focus and better enables us to deploy resources to serve customers. It also provides us with additional resources we can invest in our robotics services and dry ice manufacturing, as both of these business units are growing rapidly and the customer demand within each category is significant.”

As a business, Correll said Emory is always looking for opportunities to improve its product and service offerings for customers, increase sales, enhance operational performance, and build long-term shareholder value.

“Even though this transaction represents the sale of one business unit, it is important to note that we have also acquired three other companies this year alone,” offered Correll. “This clearly demonstrates we are bullish on the future of both the industrial services space and the dry ice manufacturing business – so, our merger and acquisition window is always open for the right opportunity.”

The transaction was structured as an all-cash deal and officially closed on Wednesday, November 30, 2022. Exact terms of the deal were not disclosed. The transaction was unanimously approved by the boards of directors for both companies. Nyemaster Goode served as legal counsel for Premium, and Faegre Drinker served as legal counsel for Emory.

“We are very pleased to complete this transaction with Emory, and I appreciate their work with my team to get this deal across the finish line. It is always great to acquire a business with three-fold, year-over-year revenue growth, as growth of this nature gives me great confidence in the book of business we just acquired,” noted Mark Parenteau, Premium’s CEO.

Burnett stated that Emory’s prior working relationship with Premium made the sale possible and also helps pave the way for continued collaboration.

“As two, customer-centric companies, Premium and Emory have worked together during the past few years to provide specialized subcontracting services for one another, and that subcontracting relationship is going to do nothing but grow in the months and years ahead,” noted Burnett. “The synergies between us are unmistakable, so I look forward to seeing what our two companies might accomplish together in the future.”

About Emory Industrial Services

Headquartered in Abilene, Texas, Emory is an eco-friendly industrial services company that specializes in cleaning, maintaining and repairing heavy industrial equipment, machinery and production plants for customers in an array of industry sectors, including oil and gas, food and beverage, power generation, manufacturing, agriculture, construction and many others. Since its founding just over four years ago, Emory has grown to employ nearly 200 people and generate annual revenues of approximately $30MM. For more information, visit: www.emoryindustrial.com.

Harley Burnett
Chairman & CEO, Emory Industrial Services
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(515) 282-8449

Travis Correll
Chief Operating Officer, Emory Industrial Services
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(515) 282-8449

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, has been ranked best in its sector by three prominent, independent Environmental, Social and Governance (ESG) rating providers.

These include:

• Number one position among Electrical Components & Equipment companies in the 2022 Corporate Sustainability Assessment (CSA) conducted by the renowned ratings agency S&P Global.
• First place in the Electronics & Equipment sector by Vigeo Eiris, Moody’s principal European ESG ratings agency, and
• A List status on the 2022 list of companies recognized as leaders in environmental transparency and action compiled by CDP.

This outstanding extra-financial performance confirms Schneider’s unique sustainability leadership positioning in the private sector, demonstrating the value of its commitment and strategy to combine business with sustainable impact.

“In a context of continued disruptions, we show how it is possible to stay focused on what matters most: people, planet and performance,” said Gwenaelle Avice-Huet, Chief Strategy & Sustainability Officer at Schneider Electric. "Not only do these top ratings reflect our unwavering engagement towards the welfare of our internal and external stakeholders, and the environment, they encourage us to concentrate on action and innovation, and bring everyone along.”

Details of the three external recognitions are as follows:

12^th consecutive year on the Dow Jones Sustainability World Index

• Schneider Electric ranked #1 among industry peers in the latest CSA with a score of 90 out of 100, well above the Electrical Components & Equipment sector’s average of 21, and in recognition of progress made on Biodiversity, Operational Eco-Efficiency, Supply Chain Management, Labor Practices, and Human Rights (score date: December 9, 2022).
• This assessment serves as the basis for Schneider Electric’s inclusion in the prestigious Dow Jones Sustainability Indices World and Europe.

12^th consecutive year on the CDP Climate Change A List

• Schneider Electric is the only company in its sector to have been listed as A List for the 12th year in a row.
• CDP recognized Schneider Electric’s Climate Strategy and its commitment to environmental transparency following the recent renewal of its short- and long-term carbon reduction targets, in accordance with SBTi’s Corporate Net-Zero Standard.

#1 in its sector by Vigeo Eiris

• Schneider Electric ranked first in the Electronic Components & Equipment sector in Europe with a score of 73 out of 100, a two-point increase compared to 2021 (score date: July 2022).
• This ensures Schneider’s inclusion on the Euronext Vigeo World 120, Europe 120, France 20, and CAC40 ESG indices, made up of the highest-rated companies selected by Moody’s ESG Solutions.

Schneider Electric uses the annual ratings from these key independent external indexes to grant shares to executives, senior management, leaders and talented employees determined as part of the long-term rewards scheme.

Schneider Electric’s ESG performance is further detailed in the 2021 Sustainability Report with more information available on the company’s sustainability webpages:

Frequently Asked Questions (FAQ)

Sustainability Disclosure Dashboard

An overview of key Schneider awards and recognitions can be found here.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com/ca

Discover Life Is On
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Media:
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero,
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Meredith Binder joins as Chief Marketing Officer

Beth Meyer joins as Chief Legal Officer

NEW YORK--(BUSINESS WIRE)--Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective Environmental, Social and Governance (ESG) data management solutions, today announced the addition of two executives to the Novata leadership team. Novata has appointed Meredith Binder as Chief Marketing Officer and Beth Meyer as Chief Legal Officer.

Prior to joining Novata, Meredith was the Global Head of Marketing & Customer Experience for S&P Global Market Intelligence, a division of S&P Global Inc. She has also held global marketing and communications roles at SNL Financial and FactSet, including a multi-year rotation in London. Meredith has a M.S., Management of Technology from Fairfield University and a B.S., Industrial Management, Graphics & Communication from Carnegie Mellon University.

Beth is joining Novata from Techstars, a global seed stage investor and accelerator, where she served as Head of Compliance & ESG. Prior to Techstars, Beth specialized in mergers and acquisitions with a focus on private equity and transactional liability insurance. With a deep passion for advancing human rights, she began her career in education and community development on the ground in the Pacific and Sub-Saharan Africa, then with the World Bank Group’s Integrity Vice Presidency working in anti-corruption. Beth has a Juris Doctorate from American University’s Washington College of Law and Master’s degree in international development from American University’s School of International Service. She has a B.A. in philosophy and international relations from Hobart and William Smith Colleges.

Backed by a consortium that includes the Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network, and with the support of more than a dozen private equity firms and pension funds, Novata is the leading ESG data management platform built specifically for the private markets. The Novata platform provides customers with a clear on-ramp for selecting ESG metrics, painless data collection and data insights and analytics tools to inform investment decisions.

“I can speak for all of us at Novata that we are very pleased to have Beth and Meredith join the team on our collective mission to advance ESG in the private markets,” said Alex Friedman, Chief Executive Officer and Co-Founder of Novata. “Both leaders are experts in their field and have industry knowledge and insights that will deliver great value to our clients.”

Since Novata’s successful platform launch in April, Novata has welcomed a range of private equity and credit firms to the General Partner Advisory Committee (GPAC) and has experienced significant global demand for its ESG data management platform.

“Novata already has established itself as the premier ESG data management platform for private market firms and their portfolio companies,” said Binder. “My goal is to build on that incredible foundation and enable the company to grow to the next level. I’m delighted to be part of this amazing team.”

“ESG has the capacity to drive seismic positive changes in the world - and Novata can play an integral role in making that happen,” said Meyer. “I am thrilled to join the team on our mission to drive value for our clients when it comes to ESG data collection.”

To learn more about Novata’s platform offerings and to schedule a demo, please see here: https://www.novata.com/

About Novata

Novata is a public benefit corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata ESG solutions, technology platform and contributory database simplify the processes of selecting reporting metrics; collecting and storing relevant data; conducting analysis; and reporting to key stakeholders, including limited partners and regulators. Novata, a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network, is majority controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.

Katie Stueber
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