DUBLIN--(BUSINESS WIRE)--The "Renewable Energy Market by Type and End User - Global Opportunity Analysis and Industry Forecast, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
Renewable Energy Market size was valued at USD 856.08 billion in 2021 and is predicted to reach USD 2,025.94 billion by 2030 with a CAGR of 9.6% during the forecast period from 2022 to 2030.
Demand for sustainable energy has increased across the world owing to factors such as the growing concerns related to climate change and increasing pollution levels. In addition, the decline in the cost of solar panels serves as a great contribution to an increase in the use of solar energy, which fuels the renewable energy industry growth.
However, the high initial capital investments and lack of resources in several countries are expected to hamper the market growth. On the contrary, technological advancements in solar PV manufacturing and solving intermittency problems using energy storage systems are expected to create ample opportunities for the key players operating in the renewable energy market during the coming decade.
Segment Overview
The global renewable energy industry is segmented on the basis of type, end user, and geography.
Recent Developments
September 2022
GE Renewable Energy received orders from Continuum Green Energy Limited in order to supply, install, and commission 81 of its 2.7-132 onshore wind turbines for the 218.70 MW wind power projects spread across India. These projects aim to power various industries and commercial establishments in Tamil Nadu and Madhya Pradesh, India.
September 2022
GE Renewable Energy received orders from Continuum Green Energy Limited in order to supply, install, and commission 81 of its 2.7-132 onshore wind turbines for the 218.70 MW wind power projects spread across Tamil Nadu and Madhya Pradesh, India.
August 2022
The Italian energy agency, Gestore dei Servizi Energetici (GSE) launched a 1.5 billion euro rebate scheme aimed at helping farming businesses install rooftop PV systems on agricultural buildings. The Italian government is expected to deploy 375 MW of new solar PV capacity through this program.
July 2022
Moroccan Agency for Sustainable Energy (MASEN) launched a tender to seek Engineering, Procurement, and Construction (EPC) contractors for its Noor Atlas solar program. The call for expression of interest seeks to construct several solar photovoltaic plants across several regions in Africa.
February 2022
ABB collaborated with IBM and Worley to sign a memorandum of understanding on helping energy companies build and operate green hydrogen facilities more efficiently and at scale. The planned three-party partnership intends to create an integrated, digitally enabled solution enabling facility owners to construct green hydrogen assets more rapidly, affordably, and safely, and to operate them more efficiently.
January 2022
A new utility-scale solar power project, Fox Coulee Solar Project was unveiled in Alberta, Canada. The 85.6-MW solar PV power project was planned and developed by two companies, Aura Power Developments and Subra GP, in a single phase. Its construction was started in 2022 and is expected to be in service by 2023
December 2021
Solar Philippines Nueva Ecija Corporation started the construction of its 500 MWp Nueva Ecija solar farm in Centrl Luzon, Philippines. The plant is expected to be constructed in phases, and the first 50 MWp solar farm is slated to go online by the end of 2022
Market Dynamics
Drivers
Restraints
Opportunities
Companies Mentioned
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) today announced that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), has priced a public offering of $1.75 billion aggregate principal amount of notes comprised of (i) $750 million principal amount of senior notes due January 10, 2026 (“Senior Notes FFF”), and (ii) $1.0 billion principal amount of senior notes due January 31, 2033 (“Senior Notes GGG”).
Enterprise expects to use the net proceeds of this offering for (i) general company purposes, including for growth capital investments, and (ii) the repayment of debt (including the repayment of all or a portion of its $1.25 billion principal amount of 3.35% Senior Notes HH due 2023 at their maturity in March 2023 and amounts outstanding under its commercial paper program).
Senior Notes FFF will be issued at 99.893% of their principal amount and will have a fixed-rate interest coupon of 5.05%. Senior Notes GGG will be issued at 99.803% of their principal amount and will have a fixed-rate interest coupon of 5.35%. Enterprise Products Partners L.P. will guarantee the senior notes through an unconditional guarantee on an unsecured and unsubordinated basis. Settlement of the offering is expected to occur on January 10, 2023.
J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC acted as joint book-running managers for the offering. An investor may obtain a free copy of the prospectus as supplemented for the offering by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, EPO or any underwriter or dealer participating in this offering will arrange to send a prospectus as supplemented to an investor if requested by contacting J.P. Morgan Securities LLC at (212) 834-4533, BofA Securities, Inc. at (800) 294-1322, Morgan Stanley & Co. LLC at (866) 718-1649, or RBC Capital Markets, LLC at (866) 375-6829.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described in this press release, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
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DUBLIN--(BUSINESS WIRE)--The "Managed Pressure Drilling Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Managed Pressure Drilling Services estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2027, growing at a CAGR of 3.6% over the analysis period 2020-2027.
Constant Bottom Hole Pressure, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$2.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Mud Cap Drilling segment is readjusted to a revised 2.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 3.4% CAGR
The Managed Pressure Drilling Services market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2027 trailing a CAGR of 3.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Dual Gradient Drilling Segment to Record 3.2% CAGR
In the global Dual Gradient Drilling segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$634.4 Million in the year 2020 will reach a projected size of US$796.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Select Competitors (Total 12 Featured) -
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
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LOS ANGELES--(BUSINESS WIRE)--OpenGate Capital, a global private equity firm, announced today that Mr. Edouard Guinotte has been appointed to Aluminium Solutions Group, “ASG” as President and Chief Executive Officer.
ASG is a new group which was formed in September 2022 through the acquisitions of Aluminium France Extrusion (AFE) and Extrusiones de Toledo (“EXTOL”), portfolio companies of OpenGate Capital.
Prior to joining ASG, Guinotte was Vallourec Group’s (listed on Paris’ SBF 120) Chairman and CEO until March 2022, a world leader in seamless steel pipe for the energy and industrial markets. During his over-25 years career, Guinotte held various positions at Vallourec, both operational and functional, in France and overseas. Guinotte led Vallourec USA Corporation, its’ commercial and distribution subsidiary, based in Houston, TX, from 2011 to 2014, and joined the group’s Executive Committee in 2017 to run the Middle East-Asia Region, based in Dubai, UAE, until 2019.
Guinotte is a graduated engineer from Ecole des Mines de Paris and holds INSEAD’s Management Advancement Program. Guinotte is looking forward to dedicating his experience and energy to make ASG a new European leader in aluminium extruded profiles. Until a new ASG website is launched, more can be learned about the business here, www.afextrusion.com and www.extol.es.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
OpenGate Media Contacts:
Prosek Partners
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Alanna Chaffin
Head of Investor Relations & Communications
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Telephone: +1 310-432-7000
OpenGate Origination Contact:
Joshua Adams
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Telephone: +1 310-432-7000
HAMILTON, Bermuda--(BUSINESS WIRE)--Everen Limited (”Everen”) announced today that George F. Hutchings, Senior Vice President and Chief Operating Officer, will retire at the end of 2023. Robert J. Foskey, Senior Vice President and Chief Actuary, will succeed Mr. Hutchings as Chief Operating Officer, effective April 1, 2023. Mr. Hutchings will remain at Everen for the balance of 2023 as Special Advisor.
John Weisner, Everen’s Chairman, said: “On behalf of the Board of Directors, the management team, and all of Everen’s employees, I want to thank George for the tremendous impact he has had on the organization over the past 18 years. A steadfast and strategic leader, George played a significant role in transforming the mutual insurer, including, the establishment of a highly cost effective capital structure, the introduction of a revised pricing methodology, the launch of a new way to cover windstorm losses, the creation of online data analytics for the membership, the development of several strategic plans and the full renaming and rebranding of the organization. The Board is sincerely grateful to George for his dedication to Everen and wishes him all the best in the next chapter of his life.
“While we will miss George, we are thrilled to welcome Rob to his new position in the organization. Since joining Everen in 2007, Rob has played an integral role in the company’s ongoing growth and I know that this track record of success will continue when he takes over as COO."
According to Bertil C. Olsson, President and Chief Executive Officer, “Since George joined the organization in 2005, Everen and the leadership team have grown the company’s capital base from $800 million to almost $3.5 billion today, using a conservative investment and capital management strategy. We have also added 33 new member insureds. During that same period, Everen returned value to its members by paying close to $3 billion in dividends. I am looking forward to working with Rob in his new role and am confident that he is the best choice for Everen’s next COO, as he continues to be an invaluable member of the senior leadership team.”
Mr. Foskey’s selection is the culmination of a robust, multi-year leadership development and succession planning process led by the Board. Weisner added that “Rob was the natural choice to succeed George given his significant involvement in virtually all of the improvements made to Everen over the past 17 years. As Chief Actuary, Rob has been a key member of the leadership team and has demonstrated a strong ability to help move the organization forward. The Board is confident Rob will be a very effective leader of Everen and will continue to drive the company to further success.”
Mr. Hutchings said, "It has been an honor to serve as COO of Everen during this period of transformation and growth, and I want to offer my sincere thanks to our employees whose hard work and dedication have allowed us to achieve so much. I also want to thank our shareholders, my colleagues in our leadership team and the Board of Directors for their ongoing support. I have worked with Rob for many years and he is an excellent choice to take the reins as COO of Everen. I look forward to working closely together for the balance of the year to ensure a smooth transition."
"I want to thank George for his contributions to Everen over the past 18 years and the Board for its confidence as I step into this role," said Mr. Foskey. "I am honored and excited to have the opportunity to work with our talented leadership team and employees to build upon the company’s success and continue to advance Everen’s position as a leader in the global energy insurance industry."
Headquartered in Bermuda, Everen Limited is the insurer of choice for the world’s leading energy companies, insuring almost $4 trillion of global energy assets. The company was established in 1972 as a mutual insurer, an innovative structure whereby its policyholders are also its shareholders and coverage is provided at cost. Everen offers its shareholders per occurrence property limits of up to $450 million across an extensive range of energy industry assets – from traditional oil and gas through to alternative industry segments such as renewables. Everen’s shareholders consist of medium to large sized energy companies in both the public and private sectors with a minimum of $1 billion per shareholder in physical property assets and an investment grade rating or equivalent. Everen is rated A by S&P and A2 by Moody’s.
For further information about the company, please visit Everen.bm
For more information, please contact Karyn Peixoto, Director – HR Everen on This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Research Report on China's Solar Cell Export 2023-2032" report has been added to ResearchAndMarkets.com's offering.
China is the world's leading exporter of solar cells, exporting a large number of solar cells every year. According to the publisher's analysis, in 2021, China exported 3.201 billion solar cells, up 17.56% year-on-year, with an export value of US$28.460 billion, up 43.79% year-on-year. From January to October 2022, China exported 3.294 billion solar cells, up 24.06% year-on-year, with an export value of US$40.033 billion, up 75.58% year-on-year.
In 2018-2022, the average price of China's solar cell exports showed an overall change trend of first decrease and then increase. In 2018-2020, the average price of China's solar cell exports fell continuously, from US$12.18 each in 2018 to US$7.27 each in 2020. In 2021-2022, the average price of China's solar cell exports rose continuously. From January to October 2022, the average price of China's solar cell exports was US$12.15 each, up 41.53% year-on-year.
In 2021, China exported solar cells to more than two hundred countries and regions around the world. The publisher's analysis shows that India, Turkey, Vietnam, South Korea, Germany, Malaysia, Cambodia, Thailand, the Netherlands and the Philippines are China's major solar cell export destinations by export volume. Among them, India is the largest exporter of solar cells from China.
In 2021, China exported 868 million solar cells to India, accounting for 27.11% of the total solar cell exports in that year, with an export value of US$3.914 billion, accounting for 13.75% of the total export value. By export value, then the Netherlands is the largest country in China's solar cell exports, and in 2021, China's solar cell exports to the Netherlands amounted to US$5.990 billion, accounting for 21.05% of the total exports.
China is a major global producer and exporter of solar cells, and the publisher expects China's solar cell exports to continue to rise from 2023-2032 as the global new energy sector grows.
Topics covered:
Key Topics Covered:
1. 2018-2022 China Solar Cell Export Analysis
1.1. China's Solar Cell Export Scale
1.1.1. China's Solar Cell Export Volume
1.1.2. China's Solar Cells Export Value
1.1.3. China Solar Cells Export Price
1.2. China's Main Export Destinations of Solar Cells
1.2.1. By Export Volume
1.2.2. By Export Value
2. 2018-2022 China's Export Analysis of Monocrystalline Silicon Solar Cells
2.1. Export Volume of Monocrystalline Solar Cells
2.2. Export Value of Monocrystalline Solar Cells
2.3. Export Price of Monocrystalline Solar Cells
2.4 Export Destinations of Monocrystalline Solar Cells
2.4.1. By Export Volume
2.4.2. By Export Value
3. 2018-2022 China Polycrystalline Solar Cells Export Analysis
3.1. Export Volume of Polycrystalline Solar Cells
3.2. Export Value of Polycrystalline Solar Cells
3.3. Export Price of Polycrystalline Solar Cells
3.4 Export Destinations of Polycrystalline Solar Cells
3.4.1. By Export Volume
3.4.2. By Export Value
4. 2018-2022 China Amorphous Silicon Thin Film Solar Cells Export Analysis
4.1. Export Volume of Amorphous Silicon Thin Film Solar Cells
4.2. Export Value of Amorphous Silicon Thin Film Solar Cells
4.3. Export Price of Amorphous Silicon Thin Film Solar Cells
4.4. Export Destinations of Amorphous Silicon Thin Film Solar Cells
4.4.1. By Export Volume
4.4.2. By Export Value
5. 2018-2022 China Other Solar Cells Export Analysis
5.1. Other Solar Cells Export Volume
5.2. Other Solar Cells Export Value
5.3. Other Solar Cells Export Price
5.4. Other Solar Cells Export Destinations
5.4.1. By Export Volume
5.4.2. By Export Value
6. 2018-2022 China Solar Cells Major Export Destinations Analysis
6.1. India
6.2. Turkey
6.3. Vietnam
6.4. South Korea
6.5. Germany
6.6. Netherlands
6.7. Other Export Destinations
7. China's Export Outlook for Solar Cells, 2023-2032
7.1 Factors Affecting China's Solar Cell Exports
7.1.1 Favorable Factors
7.1.2. Unfavorable Factors
7.2. China's Solar Cell Export Forecast, 2023-2032
7.2.1. Export Volume Forecast
7.2.2. Major Export Destinations Forecast
7.2.3. Major Exported Solar Cell Types Forecast
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EASTON, Md.--(BUSINESS WIRE)--$WULF #Bitcoin--TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, is pleased to release the following open letter to shareholders, lenders and other stakeholders from Paul Prager, TeraWulf’s Chairman and Chief Executive Officer.
The full text of the letter is as follows:
An Open Letter from TeraWulf Chairman and CEO Paul Prager
January 2023
This past year was a transformational year for TeraWulf and the crypto industry at large. Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. Importantly, I want to thank our loyal investors and fellow WULFpack members for sticking with us through an unimaginably challenging year.
Be assured that I am here with you and will continue to personally invest in TeraWulf. This past year, our management team invested over $15 million of our personal capital in the Company. I believe that is more than any leadership team in the sector and underscores our confidence in WULF’s mission and what we are building. As further evidence of my conviction, I have not sold a share, directly or indirectly.
Despite the turbulent backdrop, we remained steadfastly focused on building a scalable, vertically integrated Bitcoin mining company that uses low-cost, 91%+ zero-carbon energy. I’d like to take a moment to highlight a few of key milestones that we achieved during our first year as a public company.
What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. Power volatility in 2022 underscored the importance of power contracts. This has been our business for over 30 years. As a nearly entirely zero-carbon miner, we believe we are strategically positioned relative to our peers in what will be an increasingly stringent regulatory environment.
While there has been significant progress this year, much more remains to be done. As we transition into 2023 and strive to execute our plan and pursue growth, we will operate with several clear priorities:
So, I will close where I started – with a sincere thank you. Your trust and confidence in TeraWulf have helped us build a remarkable company.
Sincerely,
Paul Prager
Chairman and Chief Executive Officer
About TeraWulf
TeraWulf (Nasdaq: WULF) owns and operates vertically integrated environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company is currently operating and constructing two mining facilities, Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania, with the objective of 800 MW of mining capacity deployed by 2025. TeraWulf generates domestically produced bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. With a core focus of ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (8) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (9) employment workforce factors, including the loss of key employees; (10) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; (11) the ability to recognize the anticipated objectives and benefits of the business combination; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io).
Company Contact:
Sandy Harrison
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(410) 770-9500
DUBLIN--(BUSINESS WIRE)--The "Research Report on China's Wind Turbine Export 2023-2032" report has been added to ResearchAndMarkets.com's offering.
With the global vigorous development of renewable energy, the installed capacity of wind power generation is rising, which has boosted China's wind turbine exports. In 2021, China exported 44,000 wind turbines, up 6.99% year-on-year, with an export value of US$1.437 billion, up 29.56% year-on-year. From January to October 2022, China exported 66,400 wind turbines, up 89.06% year-on-year, with an export value of US$894 million, down 30.91% year-on-year.
In 2018-2022, the average price of China's wind turbine exports showed an overall fluctuating trend of change. According to the publisher's analysis, in 2021, the average price of China's wind turbine exports was US$32,600 per unit, up 21.10% y-o-y. From January to October 2022, the average price of China's wind turbine exports fell sharply to US$13,500 per unit, down 63.46% y-o-y.
In 2021, China exported wind turbines to more than one hundred countries and regions. The publisher's analysis shows that by export volume, the United States, Belgium, Poland, the Netherlands, the United Kingdom, Australia, Germany, Canada, Hungary and Vietnam are China's major wind turbine export destinations. Among them, the United States is the largest exporter of wind turbines from China.
In 2021, China exported 11,200 wind turbines to the U.S., accounting for 25.50% of the total wind turbine exports in that year, and the export value was only US$1,899,500, accounting for 0.13% of the total export value. In 2021, China's wind turbine exports to Vietnam amounted to US$711 million, accounting for 49.46% of the total exports.
China is an important global producer and exporter of wind turbines, and the Chinese wind power industry covers technology development, equipment supply, wind farm construction, etc. The publisher expects that China's wind turbine exports are expected to continue to rise from 2023-2032 as the global wind power industry develops.
Topics covered:
Key Topics Covered:
1. 2018-2022 China's Wind Turbine Export Analysis
1.1. China's Wind Turbine Export Scale
1.1.1. China's Wind Turbine Export Volume
1.1.2. China's Wind Turbine Export Value
1.1.3. China's Wind Turbine Export Price
1.2. China's Main Export Destinations of Wind Turbines
1.2.1. By Export Volume
1.2.2. By Export Value
2. 2018-2022 China Rated Speed Wind Turbine Export Analysis
2.1 Rated Speed Wind Turbine Export Volume
2.2. Rated Speed Wind Turbine Export Value
2.3. Export Price of Rated Speed Wind Turbine
2.4 Analysis of Various Types of Rated Speed Wind Turbine Exports
2.4.1. Rated Speed Wind Turbine Export Volume by Type
2.4.2. Export Value of Rated Speed Wind Turbines by Type
2.4.3. Export Price of Rated Speed Wind Turbines by Type
2.5 Rated Speed Wind Turbine Export Destinations
2.5.1. By Export Volume
2.5.2. By Export Value
3. 2018-2022 China Export Analysis of Restricted Variable Speed Wind Turbines
3.1. Export Volume of Restricted Variable Speed Wind Turbine
3.2. Export Value of Restricted Variable Speed Wind Turbine
3.3 Export Price of Restricted Variable Speed Wind Turbine
3.4 Export Analysis of Various Types of Restricted Variable Speed Wind Turbines
3.4.1 Export Volume of Various Types of Restricted Variable Speed Wind Turbines
3.4.2. Export Value of Various Types of Restricted Variable Speed Wind Turbines
3.4.3. Export Price of Various Types of Restricted Variable Speed Wind Turbines
3.5 Restricted Variable Speed Wind Turbine Export Destinations
3.5.1. By Export Volume
3.5.2. By Export Value
4. 2018-2022 China Variable Speed Wind Turbine Export Analysis
4.1. Variable Speed Wind Turbine Export Volume
4.2. Variable Speed Wind Turbine Export Value
4.3. Variable Speed Wind Turbine Export Price
4.4 Analysis of Variable Speed Wind Turbine Exports by Type
4.4.1. Variable Speed Wind Turbine Export Volume by Type
4.4.2. Variable Speed Wind Turbine Export Value by Type
4.4.3. Variable Speed Wind Turbine Export Price by Type
4.5. Variable Speed Wind Turbine Export Destinations
4.5.1. By Export Volume
4.5.2. By Export Value
5. 2018-2022 China Wind Turbine Major Export Destinations Analysis
5.1. United States
5.2. Belgium
5.3. Poland
5.4. Netherlands
5.5. United Kingdom
5.6. Vietnam
5.7. Other Export Destinations
6. China's Export Outlook for Wind Turbines, 2023-2032
6.1 Factors Affecting China's Wind Turbine Exports
6.1.1 Favorable Factors
6.1.2. Unfavorable Factors
6.2. China's Wind Turbine Export Forecast, 2023-2032
6.2.1. Export Volume Forecast
6.2.2. Major Export Destinations Forecast
6.2.3. Major Export Types of Wind Turbines Forecast
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MILWAUKEE, Wis.--(BUSINESS WIRE)--Luxfer Holdings PLC (NYSE: LXFR) (“Luxfer” or the “Company”), a global industrial company innovating niche applications in materials engineering, today announced that its Board of Directors has declared a quarterly dividend of 13 cents per ordinary share.
The dividend will be payable on February 1, 2023 to shareholders of record as of the close of business on January 13, 2023.
All holders of NYSE-listed ordinary shares will be paid in U.S. dollars through the Company’s dividend disbursing agent. For holders of ordinary shares not directly listed on the New York Stock Exchange, the dividend will be paid directly by the Company. Payment will be made in U.S. dollars, but holders of ordinary shares can elect to receive their dividend payment in respect of those ordinary shares in pounds sterling. If a holder of ordinary shares has previously requested and received a dividend in pounds sterling, the holder will receive the dividend payable on February 1, 2023 in pounds sterling, unless a written election to change the payment currency is received by the Company Secretary no later than January 12, 2023. Holders of ordinary shares electing to receive their dividend in pounds sterling will have the U.S. dollar amount converted to pounds sterling at the spot rate reported in the Financial Times for the record date.
About Luxfer Holdings PLC
Luxfer is a global industrial company innovating niche applications in materials engineering. Using its broad array of proprietary technologies, Luxfer focuses on value creation, customer satisfaction, and demanding applications where technical know-how and manufacturing expertise combine to deliver a superior product. Luxfer’s high-performance materials, components, and high-pressure gas containment devices are used in defense and emergency response, clean energy, healthcare, transportation, and general industrial applications. For more information, please visit www.luxfer.com.
Luxfer is listed on the New York Stock Exchange and its ordinary shares trade under the symbol LXFR.
Michael Gaiden
Vice President of Investor Relations and Business Development
(414) 982-1663
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DUBLIN--(BUSINESS WIRE)--The "Europe Underwater Connector Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Connection, and Application" report has been added to ResearchAndMarkets.com's offering.
The underwater connector market in Europe is expected to grow from US$ 547.47 million in 2022 to US$ 812.93 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028.
The growing investment in new technologies is the major factor driving the Europe underwater connector market. Industries are integrating new technologies and using different raw materials to produce new underwater connectors with improved performance and durability in underwater conditions. Various carriers and network firms require high-speed data transmission systems, which demand the use of modern undersea cable connectors. Integrating new technologies increases the demand for underwater cable connectors as undersea mining and oil exploration become more common.
For instance, NiobiCon is a novel type of underwater electrical connection that allows for power and data transfer without the use of seals, oil, or moving parts. This technology was created to solve the inefficiency of the underwater recharging of autonomous vehicles. The niobium connector develops its own thin isolating layer when it comes into contact with water, which is scraped off when the connection is completed. The layer regenerates immediately after being unplugged.
Northrop Grumman engineers developed the technique to establish a safe, dependable, and economical means to link electric currents in a wet or corrosive environment while keeping the power flowing. Moreover, the investment in new technology by government and private institutes has increased.
With the increase in government and private investments in research and development activities, underwater connectors are used in offshore, geophysical, oil and gas, oceanographic, and marine defense applications operated by research, commercial, and defense organizations. As a result, the underwater connector market is expected to grow rapidly over the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe underwater connector market. The Europe underwater connector market is expected to grow at a good CAGR during the forecast period.
Europe Underwater Connector Market Segmentation
The Europe underwater connector market is segmented into type, connection, application, and country.
In terms of connection, the Europe underwater connector market is segmented into electrical, optical fiber, and hybrid. The electrical segment dominated the market in 2022.
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Europe Underwater Connector Market Landscape
5. Europe Underwater Connector Market - Key Market Dynamics
6. Underwater Connector Market - Europe Analysis
7. Europe Underwater Connector Market Analysis - By Type
8. Europe Underwater Connector Market - By Connection
9. Europe Underwater Connector Market - By Application
10. Europe Underwater Connector Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Agreement enables company to focus on growth of core businesses
BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) agreed to sell its West Virginia natural gas utility assets to Hope Gas, headquartered in Morgantown, WV. This move will allow the company to focus on – and prioritize – the growth of its utilities in states where it has scale, following its long-term strategy of infrastructure investment and growth by acquisition of water and wastewater systems.
Specifically, the transaction will allow the Essential team to:
The remaining gas operations will continue to focus on capital improvements, operating excellence, and safety. The Peoples operation in Western Pennsylvania also will continue to play an important role in Essential’s acquisition strategy as Aqua expands its footprint into the region, leveraging Peoples’ valued brand and community relationships.
Totaling approximately 13,000, the customer base of Peoples West Virginia (‘Peoples WV’) is the smallest among all of the states where Essential operates. However, over the past two-and-a-half years, under the management of Essential and the dedicated WV employees, the company continued to make investments and operational improvements.
“The ability to apply economies of scale is crucial for the long-term stability of utilities. The sale of Peoples WV to Hope Gas will provide greater economies of scale in West Virginia and allow continued rate stability for our customers. We will work diligently with the Hope Gas management team to close the transaction and fully expect a seamless transition,” said Chris Franklin, Chairman and CEO of Essential Utilities.
The sale is subject to customary closing conditions, including approval from the Public Service Commission of West Virginia.
It is expected to close by the middle of 2023.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which generally include words such as “believes,” “expects,” “intends,” “anticipates,” “estimates” and similar expressions. The Company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent its views only as of today and should not be relied upon as representing its views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause the company’s actual results to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to statements relating to the capital to be invested by the water, wastewater, and gas distribution divisions of the Company. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including the factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which is filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with The Company’s business, please refer to the Company’s annual, quarterly and other SEC filings. The Company is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
About Essential
Essential Utilities, Inc. (NYSE:WTRG) delivers safe, clean, reliable services that improve quality of life for individuals, families, and entire communities. With a focus on water, wastewater and natural gas, Essential is committed to sustainable growth, operational excellence, a superior customer experience, and premier employer status. We are advocates for the communities we serve and are dedicated stewards of natural lands, protecting more than 7,600 acres of forests and other habitats throughout our footprint.
Operating as the Aqua and Peoples brands, Essential serves approximately 5.5 million people across 10 states. Essential is one of the most significant publicly traded water, wastewater service and natural gas providers in the U.S. Learn more at www.essential.co.
WTRGF
Media Contact:
Jeanne Russo
Vice President, Communications
Media Hotline: 1.877.325.3477
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Investor Contact:
Brian Dingerdissen
Vice President, IR and Treasurer
O: 610.645.1191
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Transaction & Business Highlights
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) announced today that it has entered into a definitive agreement (the “Agreement”) to acquire FlexSteel Technologies Holdings, Inc. and its affiliates through a merger with its holding company, HighRidge Resources, Inc. (“FlexSteel”) and Atlas Merger Sub, LLC, a newly formed subsidiary of Cactus, Inc. FlexSteel is a market-leading manufacturer of spoolable pipe technologies primarily purchased by customers during the production phases of a well’s lifecycle.
Scott Bender, President and CEO of Cactus, commented, “This acquisition enhances Cactus’ position as a premier manufacturer of specialized technologies delivered directly to our industry’s end-users. FlexSteel’s products combine the durability and reliability of steel with the speed and efficiency of spoolables. FlexSteel shares many characteristics with Cactus, including: 1) technologically differentiated products and services that increase customer efficiency, 2) state of the art manufacturing capabilities, 3) strong through-cycle margins, 4) modest capital requirements and 5) significant growth in recent years. Both businesses have succeeded by making highly technical sales to market-leading customers. FlexSteel’s products are also highly complementary to Cactus’ equipment at the wellsite. As such, we believe this company meets the exacting criteria we have described over the last several years.
FlexSteel also provides meaningful growth potential driven by: 1) the industry’s shift away from legacy offerings in favor of more technologically advanced solutions, 2) customers’ trend toward larger diameter products and 3) penetration into new markets such as midstream, international, shallow-water, and carbon capture.
Over time, we expect to realize the benefits of cost efficiencies by implementing our existing supply chain expertise and utilizing the combined Company’s infrastructure to deliver specialized products to an expanded customer base.”
Cactus is acquiring FlexSteel on a cash-free, debt-free basis, for total upfront consideration of approximately $621 million, subject to customary purchase price adjustments. The closing is expected to occur in early 2023 and is subject to regulatory approvals and other customary conditions. In addition to the upfront consideration, there is a potential future earn-out payment of up to $75 million to be paid in mid-2024 if certain revenue growth targets are met by FlexSteel.
FlexSteel’s current President and CEO, Thirucherai Sathyanarayanan, will continue to lead the business, which generated revenue of approximately $265 million for the nine months ended September 30, 2022.
Transaction Financing Details
Cactus has obtained fully committed bridge financing that it can use to fund the upfront purchase price together with cash on hand. The Company intends to finance the acquisition of FlexSteel through a mix of cash, debt and/or equity. The Company is targeting net debt to 2022 adjusted EBITDA for the combined company of less than 1.0x at closing and expects to reduce leverage through internal cash generation thereafter.
Advisors
J.P. Morgan Securities LLC is serving as the exclusive financial advisor to Cactus and Bracewell LLP is serving as legal counsel in association with the transaction. Morgan Stanley & Co. LLC is serving as financial advisor to FlexSteel and Vinson & Elkins LLP is acting as legal counsel on the transaction.
Conference Call & Webcast Information
Cactus will host a conference call to discuss the acquisition on Tuesday, January 3, 2023 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The call will be webcast on Cactus’ website at www.CactusWHD.com. Please access the webcast for the call at least 10 minutes ahead of start time to ensure a proper connection. In addition, a presentation with additional information relating to the FlexSteel acquisition is available on the Company’s website at www.CactusWHD.com.
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers throughout the United States and Australia, while also providing equipment and services in select international markets.
About FlexSteel
FlexSteel designs, manufactures, sells and installs highly engineered spoolable pipe technologies. FlexSteel’s steel reinforced pipeline solutions are sold principally for onshore oil and gas wells and are utilized during the production phases of its customers’ wells. FlexSteel’s technology combines the durability of steel with the installation, performance and cost benefits of spoolable pipe products. FlexSteel operates service centers throughout the United States and Canada, while also providing equipment and services in select international markets.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “continue,” “potential,” “will,” “hope” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other “forward-looking” information. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties, including unanticipated challenges relating to the proposed transaction and related financing. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company’s Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Cactus disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) (“the “Partnership” or “NGL”) announced an increase to its Fiscal 2023 Adjusted EBITDA guidance today. The Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million. Of this amount, more than $430 million is expected to be generated from the Partnership’s Water Solutions segment. Additionally, the Partnership disclosed that it has reduced debt balances by approximately $227 million during its third fiscal quarter and has a total debt balance of $3.258 billion as of December 31, 2022.
“We are excited to update our Fiscal 2023 Adjusted EBITDA guidance to greater than $630 million as we continue to see increases in water volumes processed in the Delaware Basin as well as other cash flow positive developments. We have eagerly anticipated this growth and are pleased to see years of hard work resulting in improved performance,” stated CEO Mike Krimbill. “As we increase Adjusted EBITDA and reduce indebtedness, we continue to de-lever.”
In addition, NGL today announces that Brad Cooper will be promoted to Executive Vice President and Chief Financial Officer effective January 13, 2023. Mr. Cooper joined the Partnership in June 2021 as the Partnership’s Senior Vice President of Administration and Risk Management. Mr. Cooper has over 20 years of experience in the energy space working for public companies with experience across upstream, midstream and downstream sectors. Most recently prior to joining the Partnership, Mr. Cooper spent 10 years with WPX Energy where he was Vice President of Finance and Treasurer. Prior to WPX Energy, he was at The Williams Companies where he held various corporate finance and risk management leadership roles.
Linda Bridges has announced that she will be resigning from her position with the Partnership as Chief Financial Officer effective January 13, 2023 to pursue other interests. “Linda has been a significant contributor to the Partnership since she joined us in June 2016. Through her leadership, we are in a great position to accelerate the repayment of the 2023 Notes and reduce total leverage as we approach our fiscal year end on March 31, 2023. We sincerely thank Linda,” stated Mr. Krimbill.
The expectations set forth herein are preliminary in nature and remain subject to completion of quarter-end processes and accounting procedures and are therefore subject to change.
Forward-Looking Statements
This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes such forward-looking statements are reasonable, NGL cannot assure they will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in NGL’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.
NGL provides Adjusted EBITDA guidance that does not include certain charges and costs, which in future periods are generally expected to be similar to the kinds of charges and costs excluded from Adjusted EBITDA in prior periods, such as income taxes, interest and other non-operating items, depreciation and amortization, net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities and items that are unusual in nature or infrequently occurring. The exclusion of these charges and costs in future periods will have a significant impact on the Partnership’s Adjusted EBITDA, and the Partnership is not able to provide a reconciliation of its Adjusted EBITDA guidance to net income (loss) without unreasonable efforts due to the uncertainty and variability of the nature and amount of these future charges and costs and the Partnership believes that such reconciliation, if possible, would imply a degree of precision that would be potentially confusing or misleading to investors.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.
NGL Energy Partners LP
H. Michael Krimbill, 918-481-1119
Chief Executive Officer
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MONTREAL--(BUSINESS WIRE)--Ecolomondo Corporation (TSXV: ECM) (OTC: ECLMF) (the “Company” or “Ecolomondo”), a cleantech company specializing in the commercialization of its Thermal Decomposition Process (“TDP”) proprietary recycling technology and the building and operating of turnkey TDP facilities globally, concludes the year with impressive developments. The year 2022 witnessed numerous key developments for the Company, for its new Hawkesbury TDP facility as well as its next TDP facility to be built in Shamrock, Texas.
Management and the staff of Ecolomondo take this opportunity to wish each and everyone along with their respective families the very best for 2023, filled with good health, happiness and good fortune.
Highlights of the year 2022:
The Company completed the construction and is currently in the final stages of commissioning of a 2-reactor TDP turnkey facility costing approximately C$42 million in Hawkesbury, Ontario, that is expected to process 14,000 tons of scrap tires per year to produce 5,300 tons of recovered carbon black (“rCB”), 42,700 barrels of oil, 1,800 tons of steel, 1,600 tons of process gas and 850 tons of fiber. Revenue streams of the Hawkesbury facility will come from the sale of the recovered end-products, more precisely, carbon black oil, steel and fiber, while syngas will be consumed in the process.
January 5: All major building installations were completed and underwent a successful final inspection by authorities.
January 10: In line with its expansion strategy, the Company announced its next turnkey TDP project, an unprecedented six-reactor facility to be located in Shamrock, Texas that is expected to be roughly three times the size of the Company’s Hawkesbury plant.
February 1: The Company announced final commissioning of the Hawkesbury TDP facility’s shredding line. The mechanical assembly of the Tire Shredding Line was completed, and the control and electrical systems were fully ESAFE certified, setting the stage for beginning of shredding end-of-life (“ELT”) tires.
March 3: Ecolomondo retained Red Cloud Securities Inc. to provide market making services to the Company.
March 14: Ecolomondo announced an initial purchase order from a multinational corporation for pyrolysis oil produced from recovered end-of-life tires.
March 16: The company announced that it has secured an offtake agreement for up to 80% of its Recovered Carbon Black (rCB) production from the Company’s Hawkesbury TDP facility.
April 12: The Company announced that Eliot Sorella, Chairman and CEO, would be hosting an investor webinar on April 19th. The Company provided a focused discussion on progress of the Hawkesbury TDP facility, the Shamrock project and recent offtake agreements.
May 30: The Company announced that it made considerable headway on its Shamrock, Texas project in regards to financing, feedstock supply, offtake agreements, EPC contractor and finding a joint venture partner.
June 17: The Company reported that it held its Annual General Meeting (“AGM”) on June 14 where a total of 146,932,872 common shares were cast, representing 80.02% of the issued and outstanding common shares of the Company.
July 12: Mr. Eliot Sorella, Chairman and CEO, has exercised $500,000 worth of stock options (the “Options”), in the form of 500,000 Options exercised at a price of $0.30 per share and 1,000,000 Options exercised at a price of $0.35 per share. Mr. Sorella exercised the Options for estate purposes, all to the benefit of the Company’s working capital.
August 17: Mr. Eliot Sorella, Chairman and CEO, has exercised approximately $500,000 worth of stock options (the “Options”), in the form of 1,428,571 Options exercised at a price of $0.35 per share, all to the benefit of the Company’s working capital.
August 29: Ecolomondo announced that it has concluded on August 25 a Third Amending Agreement to its original loan agreement with Export Development Canada (“EDC”), the financial institution that loaned the Company C$32.1 million to finance the construction of the Hawkesbury facility. The Amending Agreement allowed the deferral of interest and capital payments that were to become due August 31 and November 30, 2022. The Amending Agreement also allowed for the deferral of interest and capital payments that were to become due on February 28, 2023, and a further capital payment to become due May 31, 2023.
September 6: The Company updated on its latest project, a six-reactor TDP facility to be built in Shamrock, Texas, announcing that it finalized the land purchase agreement of a 136.76 acre parcel of land in Shamrock, Texas as the site for the proposed plant.
September 14: The Company announced that Eliot Sorella, Chairman and CEO, would be hosting an interactive investor webinar on September 28. He provided an update on the progress of the Hawkesbury TDP facility, the Shamrock project and several other corporate activities.
October 3: The Company reported that the installation and commissioning of shredding, thermal and recovered carbon black production lines at the Hawkesbury TDP facility were completed, with production to begin in the fourth quarter.
November 7: The Company announced that Mr. Hari K. Mynampati was appointed as the general manager for its new Hawkesbury TDP facility. Mr. Mynampati brings with him extensive experience in the carbon black industry and will supervise the start-up and beginning of operations of the facility, soon to begin along with the current plant manager, Mr. André Lamarre.
November 24: The Company announced that it received final certification on November 16 from TSSA (Technical Standards and Safety Authority) needed to operate the thermal department of its Hawkesbury TDP facility.
November 24: The Company also engaged GlobalOne Media to provide social media management and content marketing services.
November 28: The Company announced in the Management’s Discussion and Analysis (“MD&A”) for the period ended September 30, 2022, that by the end of the year, it expected to complete the pressure tests to troubleshoot for leaks on the reactors setting the stage to begin its first Thermal Decomposition batch containing rubber.
December 7: The Company announced that it will be proceeding with a private placement consisting of the sale of up to 7,000,000 units at $0.45 each (the “Units”) for gross proceeds of $3,150,000. Each Unit will consist of one common share (the “Common Shares”) and one common share purchase warrant (the “Warrants”). Each Warrant will entitle the holder thereof to acquire an additional Common Share of the Company for $0.55 for a period of six months from the date of closing of the private placement.
“As you can see, 2022 was a year of hard work, commitment and great achievements at Ecolomondo. We finish the year on the threshold of the Hawkesbury plant beginning commercial operations, while the Texas project is gradually becoming a reality,” says Eliot Sorella, Ecolomondo’s President & CEO.
About Ecolomondo Corporation
Ecolomondo Corporation is a Canadian cleantech company headquartered in Quebec, Canada, with an over 25-year history focused on waste-to-resources technology development and deployment. Ecolomondo has developed the Thermal Decomposition Process (“TDP”), which recovers high-value circular commodities from end-of-life tires, including recovered carbon black (“rCB”), oil, steel and rubber. TDP lowers carbon emissions up to 90%, compared to the production of virgin carbon black. Ecolomondo has adopted a triple bottom line approach to business focused on people, planet and profit. Ecolomondo trades on the TSX Venture Exchange under the symbol (TSXV: ECM) (OTC:ECLMF). To learn more, visit www.ecolomondo.com.
About TDP
The TDP system is technically proven and is superior to other pyrolysis technologies. Over the years, our Technological teams were able to overcome all uncertainties that plagued most competitors especially in there areas: pre-filtration, reactor cooling, reactor rotation, reactor evacuation, water recycling, cleaning of rCB, (hydrocarbon removal), mass monitoring, heat curve development, humidity and water removal, safety testing, full system automation, emissions control and monitoring, rCB and pyrolysis oil post processing, efficient syngas reuse.
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and because of a variety of factors, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward- looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether because of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Ecolomondo Corporation
Eliot Sorella
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
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www.ecolomondo.com
EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary fourth quarter 2022 earnings results after the market close on Wednesday, February 1, 2023, followed by a conference call at 10:00 a.m. CT on Thursday, February 2, 2023. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,700 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 240 among Fortune 500 companies.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Senior Investor Relations Analyst
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Scott Anderson Appointed Interim Chief Executive Officer
Bob Biesterfeld to Step Down as President and Chief Executive Officer
C.H. Robinson Board of Directors Initiates Search for Permanent Successor
MINNEAPOLIS--(BUSINESS WIRE)--$CHRW #CHRobinson--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) announced today that Scott Anderson, Chair of the Board of Directors has been appointed Interim Chief Executive Officer, effective January 1, 2023. Bob Biesterfeld has stepped down as President and Chief Executive Officer and as a member of the Board, effective December 31, 2022.
The Board has commenced a search for a new permanent CEO and has retained Russell Reynolds, a leading national executive search firm, to assist in the process of identifying internal and external candidates. With Mr. Anderson’s appointment as interim CEO, Jodee Kozlak will become independent Chair of the C.H. Robinson Board. C.H. Robinson has also made changes to the membership of the Audit Committee and Governance Committee so that these committees remain composed solely of independent directors, and appointed Kermit Crawford the Chair of the Governance Committee.
“On behalf of the Board of Directors, I thank Bob for his many important contributions over the past three years as CEO and his 24 years with C.H. Robinson,” said Mr. Anderson. “Since joining Robinson in 1999, Bob has played an important role in positioning C.H. Robinson for long-term success, most recently leading the company through a challenging period, which included COVID-19 and dealing with supply chain disruptions. We wish him all the best.”
Mr. Anderson added, “I am honored to take on the role of Interim CEO and am committed to ensuring this will be a seamless transition for all C.H. Robinson stakeholders. Now is the right time for C.H. Robinson to accelerate our strategic initiatives and the Board is focused on identifying a CEO successor who can execute on the opportunities ahead for Robinson. I look forward to working closely with our talented employees to continue to improve our customer and carrier experience, and scale our digital processes to foster sustainable growth.”
“It has been a privilege to lead C.H. Robinson and this exceptional team,” said Mr. Biesterfeld. “I am proud of all that we have achieved together, and it has been a pleasure working with so many talented members of the team throughout the organization during my tenure as CEO. I am confident that C.H. Robinson’s industry leading people and culture will continue to ensure that the company is well-positioned for the future.”
About Scott Anderson
Mr. Anderson was appointed to the C.H. Robinson Board of Directors in January 2012 and has been Chair of the Board since 2020. Most recently, he was President and Chief Executive Officer of Patterson Companies from 2010 to 2017 and was elected as Chairman of the Board of Patterson Companies in April 2013. He served as a director on the Board of Duke Realty Corporation prior to its acquisition by Prologis this past October. He is a former Chairman of the Dental Trade Alliance, has served on the Board of Directors of the Ordway Theater and is a trustee of Gustavus Adolphus College, where he served as Chairman of the Board from 2019-2021. He is a senior advisor to TPG Capital’s healthcare team and heads the Executive Council of Carlson Private Capital. Mr. Anderson earned a Master of Business Administration from Northwestern University, Kellogg School of Management and his bachelor’s degree from Gustavus Adolphus College.
About Jodee Kozlak
Ms. Kozlak joined C.H. Robinson as a Director in 2013. Ms. Kozlak is the Founder and CEO of Kozlak Capital Partners, LLC, a private consulting firm. Prior to this role, Ms. Kozlak served as the Global Senior Vice President of Human Resources of Alibaba Group from February 2016 to November 2017. Prior to joining Alibaba Group, Ms. Kozlak was at Target Corporation beginning in January 2001, where she served in a variety of legal and leadership roles, including as the Executive Vice President and Chief Human Resources Officer from March 2007 through February 2016. Prior to joining Target in 2001, Ms. Kozlak was a Partner in the litigation practice of Greene Espel, PLLP, and a Senior Auditor at Arthur Andersen & Co. Ms. Kozlak serves as a board member of K.B. Home, MGIC Investment Corp., and Leslies, Inc. Ms. Kozlak is a past fellow of the Distinguished Careers Institute (DCI) at Stanford University, received a Juris Doctor degree from the University of Minnesota and a Bachelor of Arts degree in Accounting from the College of St. Thomas.
About Kermit Crawford
Mr. Crawford joined C.H. Robinson as a Director in 2020. Mr. Crawford previously served as President and Chief Operating Officer at Rite Aid Corporation from 2017 to 2019. Prior to joining Rite Aid, Mr. Crawford was an Operating Partner and Advisor with private equity firm Sycamore Partners from 2015 to 2017. He previously worked for Walgreens from 1983 to 2014 and he served in multiple roles of increasing responsibility, including Executive Vice President and President of Pharmacy, Health and Wellness and Executive Vice President and Senior Vice President of Pharmacy Services. Mr. Crawford has served on the Board of Directors for The Allstate Corporation, where he chairs the audit committee, since 2013. Mr. Crawford joined the Visa Board of Directors in 2022 and serves on the Audit & Risk Committee and Nominating & Corporate Governance Committee. He also serves on the Board of Directors for Northwestern Lake Forest Hospital and the Board of Trustees for The Field Museum. Mr. Crawford is a former member of the Board of Directors at TransUnion. Mr. Crawford holds a Bachelor of Science from The College of Pharmacy and Health Sciences at Texas Southern University.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $28 billion in freight under management and 20 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our 100,000 customers and 85,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).
CHRW-IR
FOR INVESTOR INQUIRIES, CONTACT:
Chuck Ives, Director of Investor Relations
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FOR MEDIA INQUIRIES, CONTACT:
Duncan Burns, Chief Communications Officer
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DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced multiple solar project awards with an estimated value of $290 million. The contracts were secured by the Company’s Energy/Renewables Segment in the fourth quarter of 2022.
“These awards align with our market strategy by expanding our presence in new geographies and diversifying our scope of work with smaller utility-scale solar projects,” said Tom McCormick, President and Chief Executive Officer of Primoris. “We prioritize supporting the needs of our clients and these awards demonstrate the value our customers place on our services.”
The awards are for the engineering, procurement and construction of utility-scale solar facilities in the Midwest. The primary scope of this award includes all civil, electrical and mechanical work. Initial construction will begin in the first quarter of 2023 with completion expected in the second quarter of 2024.
About Primoris
Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, power delivery systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.prim.com.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including the Company’s future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “will”, “would” or similar expressions. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of regulation and the economy, generally. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results may differ materially as a result of a number of factors, including, among other things, the risks described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021, and our other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Blake Holcomb
Vice President, Investor Relations
214-545-6773
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SAN FRANCISCO--(BUSINESS WIRE)--Stem (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy software and services, announced today that members of its management team will meet with investors and participate in a fireside chat at the 2023 Global Energy and Clean Technology Conference on Thursday, January 5, 2023, in Miami, Florida.
The fireside chat will take place on Thursday, January 5, 2023, at 4:20 pm Eastern Time and will be available via live webcast at https://event.webcasts.com/viewer/event.jsp?ei=1590460&tp_key=b00ee25540 and on the Events and Presentations section of Stem’s investor relations website at https://investors.stem.com. A webcast replay will be available on Stem’s investor relations website for 180 days following the event.
Stem’s most recent investor materials can be accessed on its Investor Relations website at https://investors.stem.com/events-and-presentations/.
About Stem
Stem (NYSE: STEM) provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena®, enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.
For Investors
Ted Durbin, Stem
Marc Silverberg, ICR
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(847) 905-4400
For Media
Suraya Akbarzad, Stem
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New Additions Join Experienced Leadership Team Focused on Growth
SAN JOSE, Calif.--(BUSINESS WIRE)--Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that offers transportation and other in-space infrastructure services, today announced that Chris Kinman will join Momentus as Chief Commercial Officer effective January 9 and Dennis Mahoney will serve as Interim Chief Financial Officer effective January 7.
"Chris and Dennis' careers show a track record of results in energizing growth and building trusted relationships with key government, civil, and commercial customers," said Momentus Chief Executive Officer John Rood. "Their expertise will guide our sales and financial teams as the Company seeks to meet the growing demand for in-space transportation and infrastructure services and create value for our shareholders."
Kinman brings more than 30 years of experience in business development, engineering, program management, capture management, and driving growth in the defense and civil government and commercial space sectors. Most recently, Kinman served as a Senior Business Development Executive for Northrop Grumman's Space Sector. In this role, he led the business development team in the capture of Intelligence Community and DoD space opportunities, working directly with USG end users, including the Space Development Agency, Space Force, and U.S. Army. He successfully led and helped capture multiple satellite and payload opportunities at Northrop, valued at several billion dollars in total contract value.
"I am both delighted and honored to join the Momentus team during such an exciting time for the Company with the continued growth in the space infrastructure services market," said Kinman. "I look forward to applying my expertise in the space and government sectors to develop innovative solutions for our customer base and meet Momentus' growth vision to make space sustainable for future generations."
Mahoney is a seasoned professional with over 40 years of experience, including serving as CFO or senior financial executive of six public companies listed on the NYSE, NASDAQ, and ASX. He has negotiated and closed four acquisitions in the United States and Europe, and one company sale. Mahoney has deep experience in defining financial strategy, scaling operations, and driving profitable growth across a spectrum of companies in the technology, semiconductor, pharmaceutical, and medical device industries, including startups through organizations with $1.5 billion in revenue. In these roles, Mahoney has enabled international expansions, led operations, licensed products, led government compliance, and defined global tax strategy. He has closed over $450 million in equity and debt financing, including IPOs and private equity. Mahoney is the founder and CEO of SequoiaCFO, where he provides executive financial consulting services to global clients. In this role, he has helped a range of tech companies grow and expand internationally.
"I am honored and pleased to be joining the extraordinary team at Momentus in its critical mission of providing transportation and other in-space infrastructure services to support a thriving space economy,” said Mahoney. “Momentus is a company with great potential impact. I look forward to helping the Momentus team in every way that I can as interim CFO to advance its mission in advancing how the world operates in space.”
About Momentus
Momentus is a U.S. commercial space company that offers in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.
Forward-Looking Statements
This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the “Risk Factors” in the Proxy Statement/Prospectus filed by the Company on July 23, 2021, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. 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, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Investors
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NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced that Chief Financial Officer Michael L. Battles and SVP Investor Relations Jim Buckley will be presenting at the following investor conferences in January:
To access the live or archived webcasts of these events, visit the “Investor Relations” portion of Clean Harbors’ website at www.cleanharbors.com.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com and follow us on LinkedIn, Facebook and Twitter.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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