DUBLIN--(BUSINESS WIRE)--The "Hybrid Power Solutions Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2028" report has been added to ResearchAndMarkets.com's offering.
The report on the global hybrid power solutions market provides qualitative and quantitative analysis for the period from 2020 to 2028.
The report predicts the global hybrid power solutions market to grow with a CAGR of over 8% over the forecast period from 2022-2028.
The study on the hybrid power solutions market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2020 to 2028.
The report on the hybrid power solutions market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global hybrid power solutions market over the period of 2020 to 2028. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market, and opportunities for the new entrants in the global hybrid power solutions market over the period of 2020 to 2028. Further, IGR- Growth Matrix gave in the report brings insight into the investment areas that existing or new market players can consider.
Market Dynamics
Drivers
Restraints
Opportunities
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the hybrid power solutions market.
2. Complete coverage of all the segments in the hybrid power solutions market to analyze the trends, and developments in the global market, and forecast market size up to 2028.
3. Comprehensive analysis of the companies operating in the global hybrid power solutions market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.
Segments Covered
The global hybrid power solutions market is segmented on the basis of type, power rating, product, and end-use.
The Global Hybrid Power Solutions Market by Type
The Global Hybrid Power Solutions Market by Power Rating
The Global Hybrid Power Solutions Market by Product
The Global Hybrid Power Solutions Market by End-use
Company Profiles
The companies covered in the report include
For more information about this report visit https://www.researchandmarkets.com/r/xxfrky
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DALLAS--(BUSINESS WIRE)--IOG Resources II, LLC (“IOGR II”) today announced that it has acquired producing gas assets (the “Assets”) in Appalachia operated by Seneca Resources, an affiliate of National Fuel Gas (NYSE: NFG). The Assets consist of non-operated wellbores primarily located in Clearfield, Elk and McKean counties, Pennsylvania with current net production of approximately 17 mmcfd. The acquisition represents the initial investment for IOGR II, the successor platform to IOG Resources, LLC. Following the transaction, the IOG Resources platform includes 13 discrete investments across 6 core basins in the US. Kirkland & Ellis LLP acted as legal counsel for IOGR II.
About IOG Resources
IOG Resources, LLC and IOG Resources II, LLC are Dallas, Texas-based energy investment platforms sponsored by First Reserve. The group was established in 2017 and is focused on onshore producing non-operated oil & gas investments and structured drilling capital in North America. For more information, please visit www.iogresources.com.
About First Reserve
First Reserve is a private equity firm exclusively focused on investing across diversified energy, infrastructure, and general industrial end-markets. Founded in 1983, First Reserve has 39 years of industry insight, and has cultivated a network of global relationships. First Reserve has raised more than $32 billion of aggregate capital since inception. Its investment and operational experience have been built from over 725 transactions, including platform investments and add-on acquisitions, on six continents.
IOG Resources II, LLC
214-272-2990
George Edwards
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Jay Heath
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Tommy Woolley
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SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) today announced that Sandeep Nayyar, the company’s chief financial officer, will be presenting at two upcoming investor conferences:
Live and archived webcasts of the presentations will be available at the investor page of the company’s website, investors.power.com.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power-conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.
Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.
Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that Chief Executive Officer Jonathan Pertchik and Chief Financial Officer Peter Crage will be hosting meetings at the Benchmark Company’s 11th Annual Discovery One-on-One Investor Conference on Thursday, December 1, 2022 in New York City. For additional information or to schedule a one-on-one meeting with TA management, please contact your Benchmark Company representative or visit https://www.benchmarkcompany.com/news-events/upcoming-events/the-11th-annual-discovery-one-on-one-investor-conference.
About TravelCenters of America Inc.
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 19,000 team members serve guests in over 276 locations in 44 states, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Stephen Colbert, Director, Investor Relations
(617) 796-8251
Grant tied to the development and commercialization of advanced technology for more affordable and efficient EV chargers to support the rapid transition to EVs
Volta’s PredictEV® infrastructure planning tool and other proprietary software will optimize charging site selection, vehicle-grid interaction, and driver interface
NEW YORK--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA) (“Volta”), an industry-leading electric vehicle (EV) charging and media company, today announced that a project application it collaborated on with Imagen Energy, LLC (“Imagen”), a developer of compact high-power EV chargers, was awarded a grant from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E). The project seeks to develop and commercialize the next generation of domestically manufactured DC Fast Charging (DCFC) technology in support of the federal government’s clean energy and climate priorities.
The grant is part of the ARPA-E Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP) program, which provides further funding to previous ARPA-E teams that have been determined to be feasible for widespread deployment and commercialization domestically. SCALEUP selectees demonstrate a viable path to commercial deployment and the ability to attract private sector investments.
Through this project, Imagen and Volta seek to develop and commercialize chargers that are more flexible, more powerful, and more affordable by focusing on:
“Imagen relies on commercialization partners like Volta to accelerate the deployment of our high power density, silicon carbide-based power conversion platforms,” said Ezana Mekonnen, Chief Technology Officer at Imagen. “The combination of Volta’s advanced PredictEV planning tool and the company’s existing charging network creates the ideal environment for quickly developing reliable, affordable, and efficient charging solutions that will support the rapid transition to electric mobility.”
“While this is a modest initial government grant that does not replace the need for the capital we are currently raising, it is proof of Volta’s ability to align our business with the federal government’s priorities,” said Vince Cubbage, Interim Chief Executive Officer at Volta. “Volta’s collaboration with Imagen on this winning ARPA-E application demonstrates our commitment to supporting solutions that are compliant with the Bipartisan Infrastructure Law, ensuring implementation can be done in a capital-efficient manner.”
About Volta
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle ("EV") charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site partners, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “opportunity,” “plan,” “potential,” “project,” “should,” “strategy,” “will,” “would,” 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 press release, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and our subsequent Quarterly Reports on Form 10-Q, 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 www.voltacharging.com. 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, except as required by law, we 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.
Jette Speights
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BOSTON--(BUSINESS WIRE)--General Electric Company (“GE”) (NYSE: GE) announced today that GE Healthcare Holding LLC (“GE HealthCare”), a direct, wholly-owned subsidiary of GE, has closed its previously announced offering of $1,000,000,000 aggregate principal amount of 5.550% senior notes due 2024 (the “2024 notes”), $1,500,000,000 aggregate principal amount of 5.600% senior notes due 2025 (the “2025 notes”) and $1,750,000,000 aggregate principal amount of 5.650% senior notes due 2027 (the “2027 notes” and, together with the 2024 notes and the 2025 notes, the “New Money Notes”), $1,250,000,000 aggregate principal amount of 5.857% senior notes due 2030 (the “2030 notes”), $1,750,000,000 aggregate principal amount of 5.905% senior notes due 2032 (the “2032 notes”), and $1,000,000,000 aggregate principal amount of 6.377% senior notes due 2052 (the “2052 notes” and, together with the 2030 notes and the 2032 notes, the “SpinCo Debt Securities” and, together with the New Money Notes, the “Notes”).
The Notes were offered as part of the financing for the proposed spin-off of GE HealthCare from GE (the “Spin-Off”), which is expected to be completed in the first week of January 2023. GE HealthCare has distributed the net proceeds from the offering of the New Money Notes to GE. The SpinCo Debt Securities were initially issued by GE HealthCare to GE and were transferred and delivered by GE to BofA Securities, Inc. and Morgan Stanley & Co. LLC, as selling noteholders in the offering, in satisfaction of certain debt obligations of GE in connection with the Spin-Off. GE HealthCare will not receive any proceeds from the offering of the SpinCo Debt Securities.
The Notes are senior unsecured obligations of GE HealthCare and are guaranteed by GE until the consummation of the Spin-Off. Upon consummation of the Spin-Off, GE will be automatically and unconditionally released from all obligations under its guarantees. GE HealthCare expects to convert into a corporation and be renamed GE HealthCare Technologies Inc. prior to the completion of the Spin-Off.
The issuances of the Notes by GE HealthCare and the guarantees by GE have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or under any U.S. state securities laws or other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. GE HealthCare has agreed to file with the Securities and Exchange Commission an exchange registration statement with respect to an exchange offer for the Notes or a shelf registration statement for the resale of the Notes.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Cautions Regarding Forward-Looking Statements
This announcement contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, including (1) the expected use of the proceeds from the sale and issuance of the Notes, the conversion of GE HealthCare into a corporation, and the timing and completion of the Spin-Off; (2) our success in executing and completing asset dispositions or other transactions, including the Spin-Off and our planned spin-off of our portfolio of energy businesses that are planned to be combined as GE Vernova (Renewable Energy, Power, Digital and Energy Financial Services), and sales of our equity interests in Baker Hughes Company (Baker Hughes) and AerCap Holdings N.V. (AerCap) and our expected equity interest in GE HealthCare after its spin-off, the timing of closing for such transactions, the ability to satisfy closing conditions, and the expected proceeds, consideration and benefits to GE; (3) changes in macroeconomic and market conditions and market volatility, including impacts related to the COVID-19 pandemic, risk of recession, inflation, supply chain constraints or disruptions, rising interest rates, the value of securities and other financial assets (including our equity ownership positions in Baker Hughes and AerCap, and expected equity interest in GE HealthCare after the Spin-off), oil, natural gas and other commodity prices and exchange rates, and the impact of such changes and volatility on our business operations, financial results and financial position and (4) our de-leveraging and capital allocation plans, including with respect to actions to reduce our indebtedness, the capital structures of the three public companies that we plan to form from our businesses, the timing and amount of dividends, share repurchases, organic investments, and other priorities, see the Forward-Looking Statements page on our Investor Relations website as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q.
About GE
GE (NYSE:GE) rises to the challenge of building a world that works. For more than 130 years, GE has invented the future of industry, and today the company’s dedicated team, leading technology, and global reach and capabilities help the world work more safely, efficiently, and reliably. GE’s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE’s mission and deliver for its customers. www.ge.com
About GE HealthCare
GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator. GE HealthCare employs approximately 51,000 people dedicated to creating a world where healthcare has no limits. GE HealthCare’s products, services, and solutions enable clinicians to make more informed decisions quickly and efficiently, improving patient care from diagnosis to therapy to monitoring. GE HealthCare’s products are used in more than two billion procedures to care for more than one billion patients annually, with a global installed base of more than four million medical devices and delivered over 100 million doses of imaging agents used in patient procedures in 2021. www.gehealthcare.com
GE Investor Contact:
Steve Winoker, 617.443.3400
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GE Media Contact:
Whitney Mercer, 857.303.3079
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GE HealthCare Investor Contact:
Carolynne Borders, 631.662.4317
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DUBLIN--(BUSINESS WIRE)--The "Former Soviet Union Oil & Gas Monitor" newsletter has been added to ResearchAndMarkets.com's offering.
Russia and the other former Soviet republics are often viewed as remote and obscure, but FSU OGM sheds light on the vital role these countries play in world energy markets. It explains the region's status as a key player in the EU's energy planning, while also focusing on the progress of efforts to expand deliveries to Asia.
Leading commentaries in recent years have covered the economic consequences of political unrest in Ukraine, efforts to open the Southern Gas Corridor between the Caspian Sea Basin and the EU, competition between Russia and Central Asia for access to the Chinese gas market and the continued rise in Russian liquids production.
Journalists on the ground have a wealth of local experience and are proficient in Russian and other languages in Central Asia, allowing us to provide an unparalleled level of industry coverage.
Sample Table of Contents
Countries Covered
For more information about this newsletter visit https://www.researchandmarkets.com/r/5zt0qd
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto has proven the effectiveness of its low-carbon iron-making process using ores from its mines in Australia in a small-scale pilot plant in Germany, and is now planning the development of a larger-scale pilot plant to further assess its potential to help decarbonise the steel value chain.
The process, known as BioIron™, uses raw biomass instead of metallurgical coal as a reductant and microwave energy to convert Pilbara iron ore to metallic iron in the steelmaking process. BioIron™ has the potential to support near-zero CO2 steel-making, and can result in net negative emissions if linked with carbon capture and storage.
Over the past 18 months, the process has been tested extensively in Germany by a project team from Rio Tinto, sustainable technology company Metso Outotec, and the University of Nottingham’s Microwave Process Engineering Group. Development work was conducted in a small-scale pilot plant using batches of 1,000 golf ball-sized iron ore and biomass briquettes.
Rio Tinto Chief Commercial Officer, Alf Barrios, said “Finding low-carbon solutions for iron and steelmaking is critical for the world as we tackle the challenges of climate change. Proving BioIron works at this scale is an exciting development given the implications it could have for global decarbonisation.
“The results from this initial testing phase show great promise and demonstrate that the BioIron process is well suited to Pilbara iron ore fines. BioIron is just one of the pathways we are developing in our decarbonisation work with our customers, universities and industry to reduce carbon emissions right across the steel value chain.”
BioIron™’s potential was confirmed in a comprehensive and independent technical review by Hatch, the global engineering, project management and professional services firm. Hatch noted the thorough work completed by the team and BioIron™’s capacity to reduce greenhouse gas emissions while converting Pilbara iron ore into iron and steel.
The BioIron™ process will now be tested on a larger scale, at a specially designed continuous pilot plant with a capacity of one tonne per hour. The design of the pilot plant is underway and Rio Tinto is considering suitable locations for its construction.
The BioIron™ process works using lignocellulosic biomass including agricultural by-products (e.g. wheat straw, canola stalks, barley straw, sugar cane bagasse) or purpose-grown crops. The biomass is blended with iron ore and heated by a combination of combusting gases released by the biomass and high-efficiency microwaves that can be powered by renewable energy.
Rio Tinto is aware of the complexities around the use of biomass supply and is working to ensure only sustainable sources of biomass are used. Accordingly, the company is undertaking a benchmarking study of biomass certification processes. Through discussions with environmental groups, as a first step Rio Tinto have ruled out sources that support the logging of old growth and High Conservation Value forests.
Notes to editors
Steelmaking accounts for 8 percent of the world’s carbon emissions, and 66 percent of Rio Tinto’s Scope 3 emissions.
The BioIron™ process is well suited to Pilbara iron ore fines and is a highly efficient use of biomass as it is primarily used as a reductant, with microwave energy driving the iron ore reduction reactions to remove the oxygen from the iron ore.
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Media Relations, UK
Matthew Klar
M+ 44 7796 630 637
David Outhwaite
M +44 7787 597 493
Media Relations, Americas
Simon Letendre
M +514 796 4973
Malika Cherry
M +1 418 592 7293
Media Relations, Australia
Matt Chambers
M +61 433 525 739
Jesse Riseborough
M +61 436 653 412
Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178
David Ovington
M +44 7920 010 978
Clare Peever
M +44 7788 967 877
Investor Relations, Australia
Tom Gallop
M +61 439 353 948
Amar Jambaa
M +61 472 865 948
Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
Rio Tinto Limited
Level 43, 120 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
riotinto.com
Category: General
NOVI, Mich. & ROTTERDAM, Netherlands--(BUSINESS WIRE)--#oneLineage--Lineage Logistics, LLC (“Lineage” or the “Company”), one of the world’s leading temperature-controlled industrial REIT and logistics solutions providers, today officially opened its fully-automated Cool Port II cold storage facility in the Port of Rotterdam, Netherlands, adding a key European port location to Lineage’s global network of best-in-class cold storage facilities.
The fully automated deep-freeze high bay warehouse offers 60,000 pallet locations, three automated truck unloading systems and a full range of services to safely store food products and bring them to market. Strategically located in Europe’s largest sea port, the new Cool Port II facility co-located next to Cool Port I gives customers the option of tri-modal connections by sea, rail and road, connecting Lineage’s growing network from Europe to the UK and far beyond.
The facility features the industry’s most advanced automation solutions, helping to address labour volatility, provide fast and efficient service to clients and reduce the site’s energy consumption, all while ensuring the highest level of food safety and reduction of food waste. Cool Port II utilises data-driven solutions to optimise its energy use, with precision cooling cycles to minimise energy leakage and a high-rise design that maximises storage density and reduces the site’s energy footprint. Best-in-class refrigeration technology and the latest systems for temperature control combined with the energy-saving design of the facility make Cool Port II a frontrunner in energy efficiency in the cold storage sector. The site is up to 45% more energy efficient than a conventional cold storage facility.
“Our new Cool Port II facility highlights the best-in-class approach that makes Lineage a unique and forward-looking partner for our customers,” said Harld Peters, President of Europe at Lineage. “In addition to its strategic location, Cool Port II utilises the latest in automation technology. Our aim is to be a driving force behind greening the supply chain, investing in our people and our facilities to deploy the very latest in cold storage technology. In this way, we can reduce our energy footprint while providing the solutions our customers need to deliver food safely and efficiently throughout Europe and beyond.”
In addition to the increased energy efficiency of a fully automated facility, the building is constructed to meet the highest BREEAM sustainability standards. Cool Port has over 11,000 solar panels on its roof making Lineage one of the leading companies in the Port of Rotterdam when it comes to generating solar power for in-house use. As a Climate Pledge signatory, Lineage is committed to achieving net-zero carbon emissions across its operations by 2040.
“We are proud to open this state-of-the-art facility, a multi-modal facility that is well connected by road, rail and barges and the only cold store facility in Rotterdam connected with the Short Sea Terminals. We aim to provide Lineage’s customers easy access to a strong and growing network to deliver their product safely and efficiently,” said Mark Ketelaar, Regional Vice President for the Benelux Region at Lineage Logistics. “Cool Port II offers a complete range of services and state-of-the-art facilities to maximise efficiency and safe handling of the products in our care.”
In recent years Lineage has expanded its network across Europe, creating a one-stop-shop solution for customers across the continent. This reduces the complexity of moving food between countries, reduces food waste and makes the distribution of food more efficient and resilient.
About Lineage Logistics
Lineage Logistics is one of the world’s leading temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totalling over 2 billion cubic feet of capacity, which spans 20 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivalled real estate network and the development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste and, most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. Lineage is a 2022 U.S. Best Managed Company, a recognition by Deloitte Private and The Wall Street Journal for private companies that demonstrate excellence in strategic planning and execution, corporate culture and financial results. (www.lineagelogistics.com)
Lineage Logistics
Magnus Franklin
+32471620575
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PLANO, Texas--(BUSINESS WIRE)--#blueoil--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced that it will host a CCUS Business Outlook webcast on Tuesday, December 13, 2022. The live webcast will feature presentations by Chris Kendall, President and CEO, Nik Wood, Senior Vice President of Denbury Carbon Solutions, and other members of executive management, who will review the Company’s CCUS strategy, growth plans, and financial projections.
The presentation is scheduled to begin at 10:00 a.m. CST and conclude around 11:30 a.m. CST, including a question & answer session. To register for the virtual event, individuals should visit CCUS Business Outlook Event or the Events and Presentations page on the Company’s Investor Relations website, www.denbury.com. A replay of the event will be available at the same website shortly following the conclusion of the broadcast.
ABOUT DENBURY
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions by 2030, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
The Denbury Carbon Solutions team was formed in January 2020 to advance Denbury’s leadership in the anticipated high-growth CCUS industry, leveraging Denbury’s unique capabilities and assets that were developed over the last 20-plus years through its focus on CO2 EOR.
Follow Denbury on Twitter and LinkedIn.
DENBURY IR CONTACTS:
Brad Whitmarsh, 972.673.2020, This email address is being protected from spambots. You need JavaScript enabled to view it.
Beth Bierhaus, 972.673.2554, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Innovations in Downstream Processing, Electric Hydraulic Fracturing, Oil Spill Remediation & Digitization in the Oil & Gas Industry" report has been added to ResearchAndMarkets.com's offering.
This edition of the Oil and Gas (O&G) TOE features information on the use of nanofiltration and catalytic conversion technologies for the cost-effective crude oil refining and chemical separation in the petrochemical industry. The TOE also covers innovations based on the use of proprietary and eco-friendly reagents for oil wastewater and sludge treatment.
The other focal point of the TOE is the use of artificial intelligence and cloud-based software platforms to minimize pipeline leakages and significantly reduce operation downtime in oil and gas industries. The TOE additionally provides insights on the use of electric hydraulic fracturing in oil and gas fields that significantly reduces emissions while offering remote power supply. The TOE also provides latest innovations in the use of enzyme-based oil spill remediation solutions, and the use of nano-based dissolvable frac plugs with high yield strength for oil and gas fracturing applications.
The Oil and Gas TOE provides intelligence on innovations pertaining to technologies, products, and processes, along with strategic insights, in the upstream and downstream processes in the oil and gas industry.
The Energy and Utilities cluster provides global insights and intelligence on a wide variety of disruptive emerging technologies and platforms ranging from energy storage, advanced batteries, solar and wind energy, to unconventional oil, bioenergy, geothermal energy, and energy transmission.
Key Topics Covered:
1 Innovations in Downstream Processing, Electric Hydraulic Fracturing, Oil Spill Remediation & Digitization in the Oil & Gas Industry
2 Key Contacts
3 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/kw2x2l
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Extension of Production Processing contract demonstrates strength of relationship with long-term customer
HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that an affiliate of Talos Energy Inc. (“Talos”) (NYSE:TALO) has extended for one year the term of its contract with Helix for the Helix Producer I floating production vessel in the Gulf of Mexico. The one-year extension term is scheduled to conclude on June 1, 2024 with Talos having the option to extend the contract annually.
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “We are pleased to extend our contract on the Helix Producer I and look forward to continuing our long-term working relationship with Talos. The Helix Producer I is a unique vessel that has provided safe and reliable production processing for Talos, and this extension further demonstrates our ability to continue meeting our clients’ needs. We continue to support the Energy Transition by offering clients the ability to maximize production from their existing wells.”
The Helix Producer I is a ship-shaped dynamically positioned (DP2) floating production unit. The vessel is designed to produce hydrocarbons and export to shore via pipeline or tanker and is equipped with a disconnectable transfer system (DTS), which allows the vessel to weathervane during production. This setup also allows disconnection from flowlines, pipelines and umbilicals, enabling the vessel to safely navigate away from severe weather and other potentially unsafe conditions. The vessel has been processing production from the Phoenix field since 2010.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. Our services are centered toward and well positioned to facilitate global energy transition by maximizing production of remaining oil and gas reserves, decommissioning end-of-life oil and gas fields, and supporting renewable energy developments. For more information about Helix, please visit our website at www.helixesg.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the contract and extension thereof and the parties thereto, the COVID-19 pandemic and oil price volatility and their respective effects and results, our protocols and plans, our current work continuing, the spot market, our ability to identify, effect and integrate acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition; our spending and cost reduction plans and our ability to manage changes; our strategy; any statements regarding visibility and future utilization; any projections of financial items including projections as to guidance and other outlook information; any statements regarding future operations expenditures; any statements regarding our plans, strategies and objectives for future operations; any statements regarding our ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding our environmental, social and governance ("ESG") initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ability to secure and realize backlog; the effectiveness of our ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.
Helix Energy Solutions Group, Inc.
Erik Staffeldt, Executive Vice President and CFO
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Ph: 281-618-0400
DUBLIN--(BUSINESS WIRE)--The "Shore to Ship Power Global Project Specific Database: low voltage, high voltage segmentation of installed base and pipeline projects." database has been added to ResearchAndMarkets.com's offering.
Shore power also termed as "Cold ironing", "Shore to Ship Technology", "Alternative Marine Power (AMP)", and "Onshore Power Supply (OPS)", enables the vessels to shut down their onboard diesel generators while berthing at docking points and provides electric power from the local grid.
Shore power has greatly contributed to the reduction of greenhouse gas emissions, CO2, NOx content, noise pollution, and vibration due to on-board diesel generators of vessels.
Key Topics Covered:
1. Installed Base
2. Pipeline
Companies Mentioned
For more information about this database visit https://www.researchandmarkets.com/r/sdtb8b
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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The deal with the rapidly growing Thessaloniki-based company adds Europe to Prescinto’s expanding international portfolio.
BARCELONA, Spain--(BUSINESS WIRE)--Prescinto Technologies (“Prescinto”), a leading global clean energy asset performance management (APM) SaaS platform, and SunSolarWind IKE (“SunSolarWind”), a Thessaloniki-based wind and solar energy project developer with a rapidly growing portfolio of more than 100 projects across Greece, today announced a partnership in which Prescinto will apply its world-class AI-powered APM solution to monitor, analyze, optimize the performance of 70 MW of SunSolarWind’s solar assets. This alliance will streamline operations and maintenance for SunSolarWind and improve their solar asset generation by providing accurate, real-time data and actionable insights. The deal also marks Prescinto’s entry into the European market following the announcement of its recent entry into the North American market.
As one of the fastest-growing companies in Greece, SunSolarWind is a leader in renewable energy development and provides complete packages for the construction and management of wind and photovoltaic energy projects on behalf of its customers and partners. Using Prescinto’s proprietary AI-powered software, the company will have access to advanced monitoring technology and pre-trained data models to identify and categorize underperformance in real time. The platform will provide a single point of verification for SunSolarWind’s solar plant data, extracting up-to-the-minute insights and efficiently managing the field service team’s daily operations using Prescinto’s Monitor, Analyze, and Operate product modules. These solutions leverage data-driven intelligence to enable informed asset management and maximize the value of SunSolarWind clean energy assets.
In an increasingly competitive energy market, digital technology plays a critical role in optimizing operations and performance. SunSolarWind chose Prescinto as their digital transformation partner after a stringent evaluation of multiple other solutions. Additionally, Prescinto’s APM software is uniquely designed to efficiently adapt to the client's needs and is tailored to SunSolarWind’s specific requirements.
“Our team has worked closely with SunSolarWind to understand their bottlenecks and implement the appropriate solutions to enhance energy generation and streamline their operations,” said Puneet Singh Jaggi, founder and CEO of Prescinto. “As our first of many major partnerships to come in the European market, we are excited to be a part of SunSolarWind’s digital transformation journey and help them harness the full potential of their clean energy assets.”
“With our exponential growth in managed assets, the SunSolarWind team can now focus more on improving asset performance with a considerable reduction in time and effort,” says Konstantinos Fountas, Partner at SunSolarWind. “The advanced analytics in Prescinto’s platform helps to identify and plan remedial action and reduce equipment downtimes. For a company like ours, Prescinto’s solution, and their Computerized Maintenance Management System in particular, is a boon.”
With its expansion into the European market with its first Greece-based client, Prescinto is poised for further growth and progress toward its goal of being the asset management platform of choice for renewable energy projects, globally.
About Prescinto Technologies
Prescinto Technologies is a leading global clean energy asset performance management SaaS platform for solar, wind, and energy storage, purpose-built by industry experts to improve asset generation and accelerate the clean energy transition. Prescinto provides real-time insights, analytics, and automation support for optimizing renewable energy asset performance. With a veteran team of industry experts and a portfolio of over 13 GW across 14 countries, Prescinto is the trusted partner for global clients working toward the clean energy transition. For more info, visit www.prescinto.ai.
About SunSolarWind
Sun Solar Wind Ike is a rapidly growing company in the field of environmental energy applications, comprised of well-trained and certified staff. The company offers complete packages for the construction and management of photovoltaic systems and energy projects on behalf of either its customers or its partners – installers. With more than 70MWp of assets under management in Greece, SunSolarWind is among Greece's fastest-growing renewable energy companies. For more info, visit www.sunsolarwind.gr.
Media
Kenny Gayles
Antenna for Prescinto
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LEMONT, Ill.--(BUSINESS WIRE)--Globally recognized research and development leader Chris Heckle has been appointed as the first director of the Materials Manufacturing Innovation Center (MMIC) at the U.S. Department of Energy’s (DOE) Argonne National Laboratory.
Argonne established the MMIC with the goal of bringing advanced materials and chemical manufacturing technologies — including energy storage and others essential for the clean energy transition — to market faster, by cultivating and sustaining partnerships between the laboratory and the private sector, DOE, universities, and other stakeholders.
Heckle most recently served as Research Director for Inorganic Materials Research and Asia Research Labs for Corning Incorporated. She is a materials informatics champion who over a 25-year career has facilitated technology innovation across business units for multiple industries, generating hundreds of millions of dollars in revenue. She brings to Argonne experience in creating a manufacturing platform that opened new market opportunities for Corning in energy storage, as well as a demonstrated record of translating megatrends into technical thrusts and accelerating product timelines through introduction and adoption of new tools.
“I’m thrilled for this opportunity to support materials and chemical processing companies by connecting stakeholders and Argonne’s impressive variety of capabilities and people,” Heckle said. “And I’m passionate about people development, which is essential to prepare a new generation of technology and manufacturing leaders for our nation.”
To help partners commercialize new materials, Argonne manufacturing experts leverage a one-of-a-kind combination of facilities — including the Materials Engineering Research Facility, Advanced Photon Source, and Argonne Leadership Computing Facility — to rapidly develop and scale up materials discovered at the laboratory bench (gram-scale) to commercially relevant quantities (hundreds of kilograms) produced using cost-effective, scalable processes.
“We are pleased that Chris has chosen to join our team,” said Megan Clifford, Associate Laboratory Director for Science and Technology Partnerships and Outreach at Argonne. “Her deep technical knowledge and record of innovation and motivational leadership will guide the laboratory in making meaningful and long-lasting partner connections, to fulfill the MMIC mission of advancing U.S. technological leadership in materials manufacturing at a critical time.”
Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
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OSLO, Norway--(BUSINESS WIRE)--#Data--Cognite, a global leader in industrial software, today announced a long-term frame agreement with Equinor (OSE: EQNR, NYSE: EQNR), a world-leading energy company. The collaboration will expand Equinor’s data capabilities and further strengthen its digital program focused on global energy security and energy transition.
The objective for the Equinor and Cognite cooperation is to support Equinor in securing faster value capture from its ambitious digitalization program, using Cognite Data Fusion® as a module in Equinor’s OMNIA data architecture. OMNIA is built on the Microsoft Azure cloud, and the Equinor and Cognite collaboration will progress the deployment of digital solutions on OMNIA.
The Equinor and Cognite collaboration includes building a future-proof data architecture, new ways of working, and advancing industrial data extraction and contextualization. The agreement is an enterprise-wide extension of the collaboration Equinor and Cognite announced in December 2021.
The digital vision of Equinor is to make data available anytime, anywhere; predict and prevent safety and security incidents, make work easier by using robots; connect minds and technology, and ensure safe and secure operations. Cognite is a provider of data contextualization technology and capabilities and will support Equinor’s digitalization ambitions within energy transition and security. Data contextualization enables the development of accessible data models and analytics, empowering employees to develop competitive insights and stress-test hypotheses on a continuous basis.
“We are very proud of our continued collaboration with Equinor, and of supporting Equinor in its digital ambition to shape the energy transition,” says Founder and Chief Strategy & Development Officer of Cognite, Dr. John Markus Lervik. “With increasing market complexity, critical changes in the energy stack, and the growing importance of energy security, DataOps will accelerate digital capabilities for industry decision makers. Our long-term collaboration with Equinor is a great opportunity to demonstrate not only the value of contextualized data but also the value of cooperation to accelerate digitalization as we tackle global challenges.”
About Equinor
Visit equinor.com
About Cognite
Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com, and follow us on Twitter and LinkedIn.
Press contact - Cognite
Michelle Holford
Global PR Lead - Cognite
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TEMPE, Ariz.--(BUSINESS WIRE)--Energy leaders focused on developing low carbon economies in Arizona, the Navajo Nation, and Nevada have joined forces to develop a regional clean hydrogen hub in the Southwest. The Center for an Arizona Carbon Neutral Economy, and housed within the Julie Ann Wrigley Global Futures Laboratory™, first introduced in May 2022, is collaborating with partners in Arizona, the Navajo Nation, and Nevada to launch the Southwest Clean Hydrogen Innovation Network, or “SHINe”.
On November 7, as its first step in developing the hub, SHINe submitted a concept paper to seek federal funding from the U.S. Department of Energy (“DOE”) for key clean hydrogen-focused initiatives including production, processing, storage, and delivery systems, community benefits, and other enabling infrastructure. Once fully operational, SHINe will help support DOE’s vision of a regional clean hydrogen hub that provides clean energy for the hard to abate carbon emissions in the transportation, industrial, and electricity sectors while maintaining a reliable and resilient electric grid. SHINe will also work to create economic development opportunities in the region.
“A regional clean hydrogen hub focuses on developing a network of hydrogen producers, consumers and local connective infrastructure,” said Ellen Stechel, AzCaNE’s Executive Director. “The SHINe network includes salt cavern storage, heavy duty transportation, and distribution technologies that will help accelerate the use of clean hydrogen as a source of low carbon energy powering the economy.”
In September, the DOE announced that up to $7 billion is available to fund the development of six to ten U.S.-based regional clean hydrogen hubs. Regional clean hydrogen hubs funding was outlined as part of President Biden’s Infrastructure Investment and Jobs Act, otherwise known as the Bipartisan Infrastructure Bill, which authorized up to $8 billion for at least four regional clean hydrogen hubs. These hubs are meant to help communities across the country benefit from clean hydrogen investments, quality jobs, and improved energy security. When coupled with other public and private investments in new clean hydrogen production, the hubs are expected to accelerate a nationwide clean hydrogen network and economy.
Arizona, the Navajo Nation, and Nevada are in the nation's sunniest region, with significant available undeveloped land and abundant clean energy resources. Arizona also has the nation’s largest nuclear power plant producing 100 percent carbon-free electricity, and energy providers committed to reducing carbon dioxide emissions. Arizona also has world-class universities, established clean energy and clean hydrogen companies, and a healthy environment for innovation and start-ups. The Navajo Nation is one of the largest tribes in the U.S., has a land base larger than West Virginia, and is transitioning to a clean energy economy. Nevada is an early investor in clean hydrogen infrastructure, which will be necessary to integrate more hydrogen-fueled vehicles. These resources, along with the region’s proximity to California, will contribute to decarbonizing the region and ultimately the entire U.S.
SHINe includes more than forty member organizations with expertise and operations throughout the region, including cities, clean energy companies, gas producing companies, non-profits, transit companies, universities, utilities, and others including the following:
Sandy Keaton Leander
Assistant Director, Media Relations
Arizona State University
Phone: 480-727-3396
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Westinghouse and Fortum Sign Long-Term Partnership for VVER-440 Nuclear Fuel
SOLNA, Sweden--(BUSINESS WIRE)--Westinghouse Electric Company and Fortum recently signed a long-term partnership to develop, license and deliver VVER-440 fuel to the Loviisa Nuclear Power Plant in Finland to guarantee a dependable Western alternative to Russian-supplied fuel.
“The new and parallel fuel supplier will diversify our fuel strategy, improve security of supply and ensure reliable electricity production at the Loviisa power plant also in the future,” says Sasu Valkamo, Vice President, Loviisa Nuclear Power Plant.
“Westinghouse offers the only alternative fuel for this type of reactors that is both designed and manufactured outside of Russia, so this partnership will provide increased energy security for Finland and fuel diversification for Fortum,” said Tarik Choho, Westinghouse President of Nuclear Fuel. “We are proud to support Fortum’s operating fleet with fuel reload quantities, building on our successful collaboration delivering VVER-440 fuel for Loviisa from 2001 to 2007.”
The Loviisa Nuclear Power Plant has two VVER pressurized water reactors (PWR) that cover about 13 percent of Finland's electricity production. The amount of electricity generated at the Loviisa power plant is nearly equivalent to the total combined electricity consumption of the cities of Helsinki, Espoo, and Vantaa.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
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Award supports Eden’s development of Electrical Reservoir StimulationTM to improve domestic supply of lithium, nickel, copper, cobalt and other critical elements required for the clean energy transition
Project Team on Award: Idaho National Laboratory and Colorado School of Mines and Others
SOMERVILLE, Mass.--(BUSINESS WIRE)--Eden, a company developing novel techniques to increase permeability and characterize geologic reservoirs, announced today that it has been selected as part of a project team to receive $3,517,450 in federal funding from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E) for a project titled “Integrated Electro-Hydraulic Fracturing and Real-Time Monitoring for Carbon Negative In-Situ Mining”. The funding is part of the ARPA-E MINER program, which prioritizes funding technologies that support novel approaches to increases the mineral yield while decreasing the required energy, and subsequent emissions, to mine and extract these energy-relevant minerals. This project is being led by Idaho National Labs, who has been working closely with Eden to develop the technology for hard rock permeability enhancement applications. Colorado School of Mines is also a sub-awardee on the project, and will be leading a novel effort to utilize Distributed Fiber-Optic Sensing” (DFOS) to monitor fracture processes and chemical reactions in the subsurface during operations of Electrical Reservoir StimulationTM.
“While we started developing our electric rock stimulation technology to increase heat transfer fracture volume to maximize power production in geothermal reservoirs, we soon realized the implications of our method goes way beyond geothermal,” said Paris Smalls, CEO and co-founder of Eden. “Sustainable and controlled subsurface permeability enhancement can greatly reduce the environmental impact of mining lithium, nickel, cobalt, copper, and other energy relevant minerals by pre-weakening the rock before mining operations. This allows for reduced water consumption, energy comminution, and mining tailings. In the very near future, we will also adopt our technology for other hard rock applications, including increasing the permeability of tight mafic/ultramafic reservoirs for geologic hydrogen production and CO2 sequestration, and decreasing the number of newly drilled wells and water required for re-fracturing unconventional reservoirs. It’s a very exciting time to be at Eden!”
The project team consists of world class researchers at Idaho National Laboratory, Colorado School of Mines, and Stony Brook University, and Eden. These institutions will work together to study the processes of electric rock stimulation, CO2 injection during mining operations, and DFOS monitoring into the mining workflow.
“Combining our novel rock permeability enhancement technology with DFOS will allow us to both increase and measure permeability evolution more accurately in CO2 reactive ore bodies,” said Dr. Rafael Villamor-Lora, lead experimental scientist at Eden and Co-PI on the project. “This will allow our mining partners to unlock new sources of energy relevant minerals, while drastically decreasing their environmental footprint.”
Successful development of the technology will be essential to meet global critical mineral demands and achieve 2050 net-zero decarbonization goals.
ABOUT EDEN
Eden GeoPower Inc. (“Eden”) is developing a novel “Electrical Reservoir Stimulation” technology to increase subsurface permeability with minimal environmental impact. Market applications include geothermal heat recovery, mining, geologic hydrogen, and unconventional reservoir re-fracturing. Eden is headquartered at Greentown Labs in Somerville, MA, the largest clean technology incubator in North America. The company is supported by Good Growth Capital, Ameren, NSF-SBIR, and DOE ARPA-E. For more information, visit www.edengeopower.com.
ABOUT ARPA-E MINER – 2022
The U.S. Department of Energy (DOE) awarded $39 million in funding for 16 projects across 12 states to develop market-ready technologies that will increase domestic supplies of critical elements required for the clean energy transition. The selected projects, led by universities, national laboratories, and the private sector aim to develop commercially scalable technologies that will enable greater domestic supplies of copper, nickel, lithium, cobalt, rare earth elements, and other critical elements. The Biden-Harris Administration has remained focused on strengthening the critical materials supply chain as rare-earth elements are necessary to manufacture several clean energy technologies—from electric vehicle batteries to wind turbines and solar panels. President Biden has underscored the importance of deploying energy sources that reduce carbon pollution, lower costs for families and businesses, and ultimately mitigate the impacts of climate change. Learn more at: https://arpa-e.energy.gov/programs/miner.
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Industrial Gases Market, By Product Type (Oxygen, Nitrogen, Carbon Dioxide, Hydrogen, Argon, Helium), By Mode of Distribution (Tonnage/Gaseous, Bulk & Cylinder, Packaged), By Region, Competition Forecast and Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Industrial Gases market was valued at USD2,054.18 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 5.40%, owing to a rapidly increasing investment in the mega projects in the kingdom of Saudi Arabia.
Companies Mentioned
Industrial gases are comprised of elements, molecular compounds, or mixtures. The most common industrial gases are oxygen, nitrogen, carbon dioxide, hydrogen, and noble gases such as argon, neon, helium, etc. Industrial gases are used for a wide spectrum of industries, which include oil and gas, chemicals, petrochemicals, metals, fertilizers, nuclear power, electronics, and aerospace. Technology like air separation plants refines air in a separation process, allowing the bulk manufacturing of many gases.
Rise in Investments in Mega Projects Driving Market Growth
The Government of Saudi Arabia is investing in the megaprojects across the kingdom. The submission of industrial gases is very much widespread in the construction business. Saudi Arabia's industrial gas situation will continue to grow in support, not only of the energy sector, but also in the emerging non-energy sector including the industrial, gas and chemical sectors. Mega Projects like Al Jubail Petrochemical Complex are driving the industrial gases market's overall growth in Saudi Arabia.
Growing Demand from Oil and Gas Midstream Sector is helping in Driving Saudi Arabia Industrial Gases Market
Industrial gases play a vital role in the oil refining business in all three stages of separation, conversion, and treating. High-quality gases improve the quality of end products being refined in an oil refinery and the quality of the process being conducted. In refineries, Nitrogen is used for blanketing tanks, preventing the release of hydrocarbon emission, and for preventing the ingress of oxygen into vacuum units.
Nitrogen is also used to calm chemical reactions and safely shut down or start up the various units that constitute the refinery. With the latest technological advancements in the oil and gas upstream industry, world leaders are almost ready to exploit the untapped reserves which they were not ready to exploit before because of lack of technology or fluctuating crude prices, which suggests the refining industry will also grow with this notion; hence it will drive the market growth of industrial gases as well.
Increasing Applications of Industrial Gas in Medical & Food Processing Industries Medical and food processing industries are driving the growth of industrial gases market in Saudi Arabia. For instance, according to chemical company Air Products, industrial gases can be applied to food production processes to boost productivity and help to create healthy, natural, and organic food products and they use liquid nitrogen and carbon dioxide in the freezing and chilling application of any food product. These gases also help grind spices, nutraceuticals, and other ingredients. Liquid nitrogen can be principally useful in reducing frictional heat throughout the grinding process, increasing output and consistency. It also avoids loss of flavors and aroma in food processing.
Industrial Gas Manufacturers Adopting IoT Technology
Many industrial gases manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. The data obtained through these devices is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on chemical reactors' working conditions and performance with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. Major industrial gas manufacturers adopting IoT technology include Praxair-Linde and Air Products.
Report Scope:
In this report, Saudi Arabia Industrial Gases Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Saudi Arabia Industrial Gases Market, By Product Type:
Saudi Arabia Industrial Gases Market, By Mode of Distribution:
Saudi Arabia Industrial Gases Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/ho9g59
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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