HOUSTON--(BUSINESS WIRE)--#Blockchain--Blockchain for Energy (B4E) today announced that Devon Energy Corporation has joined its oil and gas consortium which helps member organizations advance and transform the way transactions, records and data are managed in the energy industry. B4E also supports opportunities for lower carbon energy through collaboration and proactive development of new technologies.
“It is my great pleasure to welcome Devon Energy as a board member to the Blockchain for Energy consortium,” said Rebecca Hofmann, CEO, Blockchain for Energy. “We look forward to the great things our collaboration will achieve and the transformation that will result from it.”
Membership will help accelerate the adoption of Web3 technologies
“Joining Blockchain for Energy is another example of Devon’s focus on innovation and collaborative partnerships,” said Trey Lowe, Chief Technology Officer at Devon Energy. “We are excited to work with many highly respected organizations and help transform the energy industry’s technology landscape.”
Devon will hold full member status, a board seat, and participate in B4E’s Technology Committee. They will participate in all five consortium programs including: the ESG-Emission Disclosure Registry Pilot; Integrated Joint Venture Management (with AFE Balloting and Joint Interest Billing); the current testing of a Mineral Royalty Blockchain solution; and B4E’s operational Commodity Transport solutions.
Drawing on knowledge from some of the most experienced industry leaders, the consortium’s work will lead to enhanced innovation needed to usher in a new digital era. Through collaboration and market innovation, B4E and its members are building an enterprising community and reinventing the energy industry’s workflow processes.
In addition to Devon, B4E members include Chevron, ConocoPhillips, ExxonMobil, Pioneer Natural Resources, Repsol, Schlumberger, API, and Worley.
About Blockchain for Energy
Utilizing the benefits of blockchain technology, the Blockchain for Energy (B4E) consortium provides its members with forward thinking learnings and solutions for the energy industry. We collaboratively drive digital transformation towards Web3 by providing members with opportunities to accelerate their digitalization journey. We seek to resolve, reinvent, and transform the industry’s ways of working through collective synergies. Blockchain for Energy is a safe venue to create transformational change – for the energy industry – by the energy industry.
About Devon Energy
Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
Martin Juniper
Blockchain for Energy
713.816.4173
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation, (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock.
The dividend is payable on October 14, 2022, to shareholders of record as of the close of business on September 30, 2022.
While Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this $0.20 per share rate or otherwise, will be reviewed individually and declared by the Board at its discretion.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Investor Contacts:
Jay Roueche, Vice President, Treasurer and Investor Relations, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
AUSTIN, Texas--(BUSINESS WIRE)--#ElectricVehicles--New York fleet managers presented plans to electrify 285 fleet vehicles last month during the final workshop of a unique pilot program led by CLEAResult, New York State Electric & Gas (NYSEG), and Rochester Gas and Electric (RG&E). In the program’s first year, fleet managers of school buses, higher education, city and county planners, as well as private businesses participated in a series of interactive workshops with experts, plus one-on-one coaching and hands-on technical support to build actionable roadmaps for fleet electrification.
“We showed each organization how to transition to EVs step-by-step,” said James Russell, CLEAResult’s Director of Transportation Electrification, “so that when it came time to present, every participant had done amazing work tailoring a plan to their specific needs. They own the plans, and that’s the real success of this program.”
The program follows an approach supported by the various energy transition and engineering experts involved. First, the teams set goals and engage stakeholders. They then gather data and identify vehicle replacements, which provides the preliminary plan needed to scope out charging infrastructure. Finally, the participants compare the total cost of ownership and build their financial case to begin securing funding. The process is iterative by design to allow for flexibility at any time. When new information comes to light, organizations are encouraged to revisit their plans as needed.
Collectively, the 12 groups plan to transition 285 fleet vehicles to low-emission electric options. This combined effort will reduce CO2 emissions by over 7,000 tons per year, which is equivalent to the emissions from consuming over 14,700 barrels of oil.
NYSEG and RG&E will help the teams accelerate their plans moving forward through various vehicle and infrastructure incentives in addition to the state and federal funding available. “The results were far better than we imagined,” said Richard Rosa, Avangrid Manager of Electric Vehicle Programs and Products. “The participating organizations now have clear plans to decarbonize, reduce emissions and improve our climate. We’re thrilled to be a part of their success.” For more information on NYSEG and RG&E’s electric vehicle programs visit nyseg.com and rge.com.
Energy transition programs like these play a crucial role in simplifying the process for fleet managers who want to transition to EVs but don’t know where to start. If your fleet wants to become more sustainable, contact CLEAResult’s transportation electrification team to get started.
NYSEG and RG&E are subsidiaries of AVANGRID, Inc.
About CLEAResult
CLEAResult is the largest provider of energy efficiency, energy transition and decarbonization solutions in North America. Since 2003, our mission has been to change the way people use energy. Today, our experts lead the transition to a sustainable, equitable, and carbon-neutral future for our communities and our planet. Our hometown teams collaborate with a diverse network of local partners to deliver world-class technology and personalized services that make it easy for commercial and industrial businesses, governments, utilities and residential customers to reduce their energy use and carbon footprint. CLEAResult is headquartered in Austin, Texas, and has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult is majority owned by TPG through its middle market and growth equity investment platform TPG Growth and its multi-sector global impact investing strategy The Rise Fund.
Explore all our energy solutions at clearesult.com.
Follow us on: Facebook | LinkedIn | Twitter | Instagram
About NYSEG: New York State Electric & Gas Corporation (NYSEG) is a subsidiary of AVANGRID, Inc. Established in 1852, NYSEG operates approximately 35,000 miles of electric distribution lines and 4,500 miles of electric transmission lines across more than 40% of upstate New York. It also operates more than 8,150 miles of natural gas distribution pipelines and 20 miles of gas transmission pipelines. It serves approximately 894,000 electricity customers and 266,000 natural gas customers. For more information, visit www.nyseg.com.
About RG&E: Rochester Gas and Electric Corporation (RG&E) is a subsidiary of AVANGRID, Inc. Established in 1848, RG&E operates approximately 8,800 miles of electric distribution lines and 1,100 miles of electric transmission lines. It also operates approximately 10,600 miles of natural gas distribution pipelines and 105 miles of gas transmission pipelines. It serves approximately 378,500 electricity customers and 313,000 natural gas customers in a nine-county region in New York surrounding the City of Rochester. For more information, visit www.rge.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
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Amber Tester
Director Corporate Communications
HOUSTON--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (OTC–ROYTL) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today that there will be no cash distribution to the holders of its units of beneficial interest of record on August 26, 2022 based on the Trust’s calculation of net profits generated during June 2022 (the “Current Month”) as provided in the conveyance of net profits interests and overriding royalty interest (the “Conveyance”). Given the Trust’s receipt of insufficient monthly income from its net profits interests and overriding royalty interest during 2020 and 2021, the Trust had been expected to terminate by its terms at the end of 2021; however, as described further below, a court has issued a temporary restraining order enjoining the dissolution of the Trust until an arbitration tribunal can rule on the plaintiff’s request for injunctive relief. As described further below, based on information from PCEC, the likelihood of distributions to the unitholders in the foreseeable future is extremely remote. All financial and operational information in this press release has been provided to the Trustee by PCEC.
The Current Month’s distribution calculation for the Developed Properties resulted in operating income of approximately $2.4 million. Revenues from the Developed Properties were approximately $4.5 million, lease operating expenses including property taxes were approximately $2.0 million, and development costs were approximately $76,000. The average realized price for the Developed Properties was $112.62 per Boe for the Current Month, as compared to $108.26 per Boe in May 2022. Oil prices in recent months generally have remained elevated well above their 2020 and 2021 levels, and were higher in the Current Month as compared to June 2021. The cumulative net profits deficit amount for the Developed Properties declined approximately $1.9 million, to approximately $12.4 million in the Current Month versus approximately $14.3 million in the prior month.
The Current Month’s calculation included approximately $145,000 generated from the 7.5% overriding royalty interest on the Remaining Properties from Orcutt Diatomite and Orcutt Field. Average realized prices for the Remaining Properties were $110.74 per Boe in the Current Month, as compared to $106.51 per Boe in May 2022. The cumulative net profits deficit for the Remaining Properties decreased by approximately $287,000 and was approximately $391,000 for the Current Month.
The monthly operating and services fee of approximately $100,000 payable to PCEC, together with Trust general and administrative expenses of approximately $136,000 and the payment to PCEC of approximately $44,000 of accrued interest under the promissory note between the Trust and PCEC, together exceeded the payment of approximately $145,000 received from PCEC from the 7.5% overriding royalty interest on the Remaining Properties, creating a shortfall of approximately $136,000.
PCEC has provided the Trust with a $1 million letter of credit to be used by the Trust if its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. As of March 31, 2021, the letter of credit has been fully drawn down. Further, the trust agreement provides that if the Trust requires more than the $1 million under the letter of credit to pay administrative expenses, PCEC will, upon written request of the Trustee, loan funds to the Trust in such amount as necessary to pay such expenses. Under the trust agreement, the Trust may only use funds provided under the letter of credit or loaned by PCEC or another source to pay the Trust’s current accounts or other obligations to trade creditors in connection with obtaining goods or services or for the payment of other accrued current liabilities arising in the ordinary course of the Trust’s business. As the Trust has fully drawn down the letter of credit, PCEC will be loaning funds to the Trust to pay the expected shortfall of approximately $136,000, which would bring the total amount of outstanding borrowings (including the amount drawn from the letter of credit, which also must be repaid as provided in the trust agreement) from PCEC to approximately $3.6 million plus interest thereon, related to shortfalls from prior months. Consequently, no further distributions may be made to Trust unitholders until the Trust’s indebtedness created by such amounts drawn or borrowed, including interest thereon, has been paid in full.
Sales Volumes and Prices
The following table displays PCEC’s underlying sales volumes and average prices for the Current Month:
Underlying Properties |
|||||||
Sales Volumes |
Average Price |
||||||
(Boe) |
(Boe/day) |
(per Boe) |
|||||
Developed Properties (a) |
40,076 |
1,336 |
|
$112.62 |
|||
Remaining Properties (b) |
18,202 |
607 |
|
$110.74 |
|||
(a) Crude oil sales represented 99% of sales volumes |
|||||||
(b) Crude oil sales represented 100% of sales volumes |
|||||||
Update on Estimated Asset Retirement Obligations
As previously disclosed, in November 2019, PCEC informed the Trustee that, as permitted by the Conveyance, PCEC intended to begin deducting its estimated asset retirement obligations (“ARO”) associated with the West Pico, Orcutt Hill, Orcutt Hill Diatomite, East Coyote and Sawtelle fields, thereby reducing the amounts payable to the Trust under its Net Profits Interests. ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face. PCEC engaged an accounting firm, Moss Adams LLP (“Moss Adams”), acting as third-party consultants, to assist PCEC in determining its estimated ARO, and on February 27, 2020, PCEC informed the Trustee that based on the analysis performed by Moss Adams, PCEC’s estimated ARO, as of December 31, 2019, was $45,695,643, which is approximately $10.0 million less than the undiscounted amount that was originally estimated before Moss Adams completed its analysis, as previously disclosed in the Trust’s Current Report on Form 8‑K filed on November 13, 2019. According to PCEC and its third-party consultants, its estimated ARO, which reflected PCEC’s assessment of current market conditions as of December 31, 2019 and changes in California law, was determined to be approximately $33.2 million for the Developed Properties and approximately $12.5 million for the Remaining Properties, or approximately $26.5 million and approximately $3.1 million net to the Trust, respectively, and PCEC has reflected these amounts beginning with the calculation of the net profits generated during January 2020. The accrual has resulted in a current cumulative net profits deficit of approximately $12.8 million, which must be recouped from proceeds otherwise payable to the Trust from the Trust’s Net Profits Interests. Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
PCEC has informed the Trustee that in accordance with generally accepted accounting principles, PCEC will evaluate the ARO on a quarterly basis. As a result of that re-evaluation, the actual ARO incurred in the future may be greater or less than the estimated amounts provided by PCEC. As previously disclosed, PCEC has informed the Trustee that at year-end 2020, and following the end of each of the first, second and third quarters of 2021, in light of the accounting guidance under Accounting Standards Codification 410-20-35-3, which requires the recognition of changes in the asset retirement obligation due to the passage of time and revision of the timing or amount of the originally estimated undiscounted cash flows, PCEC re-evaluated the estimated ARO, which resulted in an aggregate increase to the ARO accrual for the Developed Properties by approximately $5.1 million, net to the Trust’s interest, and an aggregate increase to the ARO accrual for the Remaining Properties by approximately $288,000, net to the Trust’s interest.
Based on PCEC’s estimate of its ARO attributable to the Net Profits Interest, deductions relating to estimated ARO are likely to eliminate the likelihood of any distributions to Trust unitholders for the foreseeable future, as previously disclosed in the Trust’s Current Report on Form 8-K filed on November 13, 2019.
As previously disclosed, the Trust engaged Martindale Consultants, Inc. (“Martindale”), a provider of analysis and compliance review services to the oil and gas industry, to perform an independent review of the estimated ARO in the Moss Adams report that PCEC provided to the Trustee. The Trustee also has engaged an accounting expert to advise the Trustee regarding the accruals that PCEC has booked relating to its estimated ARO. As disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, Martindale has completed its review of the estimated ARO and on December 21, 2020 provided its analysis and recommendations to the Trustee. Based on Martindale’s recommendations provided in its report to the Trust, as disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, the Trustee requested that PCEC promptly make several adjustments to its calculations and methods of deducting ARO from the proceeds to which the Trust is otherwise entitled pursuant to its Net Profits Interests. PCEC has responded to the Trustee, indicating PCEC’s view that the adjustments would violate applicable contracts and accounting standards, and has therefore declined to make any adjustments to the estimated ARO calculation based on those requests and the recommendations of the Martindale report. The Trustee has concluded that it has taken all action reasonably available to it under the Trust’s governing documents in connection with PCEC’s ARO calculation and therefore has determined not to take further action at this time.
As described in more detail in the Trust’s filings with the SEC, the trust agreement provides that the Trust will terminate if the annual cash proceeds received by the Trust from the Net Profits Interests and 7.5% overriding royalty interest total less than $2.0 million for each of any two consecutive calendar years. Because of the cumulative net profits deficit—which PCEC contends is the result of the substantial reduction in commodity prices during 2020 due to the COVID-19 pandemic and PCEC’s deduction of estimated ARO beginning in the first quarter of 2020—the only cash proceeds the Trust has received since March 2020 have been attributable to the 7.5% overriding royalty interest. As a result, the total proceeds received by the Trust in each of 2020 and 2021 were less than $2.0 million. Therefore, the Trust had been expected to terminate by its terms at the end of 2021.
Status of the Dissolution of the Trust
As previously disclosed in the Trust’s Current Report on Form 8-K filed on December 23, 2021, on December 8, 2021, Evergreen Capital Management LLC (“Evergreen”) filed an Amended Class Action and Shareholder Derivative Complaint alleging a derivative action on behalf of the Trust and against PCEC in the Superior Court of the State of California for the County of Los Angeles (the “Court”).
On December 10, 2021, Evergreen filed a motion for temporary restraining order and for preliminary injunction, seeking to (1) enjoin the Trustee from dissolving the Trust, (2) enjoin PCEC from dissolving the Trust, (3) direct PCEC to account for all monies withheld from the Trust on the basis of ARO costs since September 2019, and (4) direct PCEC to place such monies in escrow.
On December 16, 2021, the Court granted Evergreen’s application for a temporary restraining order. Accordingly, the Trust did not dissolve at the end of 2021 and commence the process of selling its assets and winding up its affairs. On January 11, 2022, PCEC and Evergreen filed an agreed stipulation to stay the prosecution of Evergreen’s derivative claims pending an arbitration of such claims. On January 13, 2022, the Court signed an Order dissolving the December 16, 2021, temporary restraining order and entering a new temporary restraining order to preserve the status quo until a tribunal of three arbitrators appointed pursuant to the trust agreement could rule on any request by Evergreen for injunctive relief. On April 11, 2022, PCEC notified the Court, at the arbitrators’ request, that the arbitration panel had issued an order on April 7, 2022, denying Evergreen’s request for injunctive relief. On April 13, 2022, Evergreen notified the Court that Evergreen had filed a motion for reconsideration with the arbitration panel that same day. On June 9, 2022, PCEC and Evergreen filed a stipulation, requesting that the Court stay the lawsuit for 90 days pending further ruling from the arbitration panel.
Production Update
PCEC has informed the Trustee that PCEC continues to strategically deploy capital to enhance and maintain production. Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created. Although oil prices have improved significantly from their lowest levels in 2020, any monthly payments, as a result of enhanced production, that PCEC may make to the Trust may not be sufficient to cover the Trust’s administrative expenses and outstanding debt to PCEC, and therefore the likelihood of distributions to the unitholders in the foreseeable future is extremely remote.
Overview of Trust Structure
Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”). The Underlying Properties and the Trust’s net profits, and royalty interests are described in the Trust’s filings with the SEC. As described in the Trust’s filings with the SEC, the amount of any periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, development expenses, and the amount and timing of the Trust’s administrative expenses, among other factors. For additional information on the Trust, please visit https://royt.q4web.com/home/default.aspx.
Cautionary Statement Regarding Forward-Looking Information
This press release contains statements that are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are "forward-looking statements" for purposes of these provisions. These forward-looking statements include estimates of future asset retirement obligations, expectations regarding the impact of deductions for such obligations on future distributions to unitholders, estimates of future total distributions to unitholders, expectations regarding the outcome of the legal proceedings relating to the Trust and any future dissolution of the Trust, statements regarding the impact of returning shut-in wells to production, expectations regarding PCEC’s ability to loan funds to the Trust, and the amount and date of any anticipated distribution to unitholders. In any case, PCEC’s deductions of its estimated asset retirement obligations will have a material adverse effect on distributions to the unitholders and on the trading price of the Trust units and may result in the termination of the Trust. Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will be significantly and negatively affected by low commodity prices, which declined significantly during 2020, could decline again and could remain low for an extended period of time as a result of a variety of factors that are beyond the control of the Trust and PCEC. Other important factors that could cause actual results to differ materially include expenses related to the operation of the Underlying Properties, including lease operating expenses, expenses of the Trust, and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither PCEC nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019, and if applicable, the Trust’s subsequent Quarterly Reports on Form 10-Q. The Trust's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q are available over the Internet at the SEC's website at http://www.sec.gov.
Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
For the First Time, Consumers Can Compare PACE Financing & Unsecured Loan Options Side-by-Side, And Apply With No Impact to Their Credit Score
PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene, one of the nation’s leading property improvement financing companies, today announced the expansion of its residential product portfolio beyond PACE (property assessed clean energy) financing. Building on the July announcement of new, substantial private investment by two of its original investors, Lightyear Capital and Virgo Investment Group, Ygrene will now provide offers to unsecured home improvement loans nationwide through third-party partnerships.
Providing access to unsecured loans dramatically expands Ygrene’s ability to support homeowners as they seek to secure financing to upgrade and strengthen their properties. Already a trusted resource for property improvement financing for over a decade, the unsecured offering allows those that are ineligible for PACE financing to pursue other financing options.
Homeowners can view unsecured loan offers in just sixty seconds, and for the first time in the industry, they can also compare estimated monthly payment quotes for PACE and a selection from a group of over thirty traditional home improvement lenders – an empowering first step in choosing the financing that’s best for their project and budget.
“We’re committed to making property upgrades accessible and affordable for every homeowner, and by adding unsecured loans to our residential product line-up, we’re taking an enormous step toward realizing that vision,” said Jim Reinhart, President and CEO of Ygrene. “While PACE financing continues to connect us to tens of thousands of homeowners who need critical energy efficient, renewable energy, and storm protection property upgrades, we are thrilled to be able to assist homeowners who do not live in a community that offers PACE with the financing they need to make their homes safer and more comfortable.”
Ygrene’s unsecured offering is a win-win for property owners and contractors. Homeowners can compare offers from multiple lenders without a hard credit pull, secure up to $250,000 in financing for all types of upgrades, and receive funds within one to four business days – ensuring a quick start to their project. And there are no contractor fees.
To apply or for more information visit www.Ygrene.com/home-improvement-loans.
About Ygrene
Ygrene's award-winning property improvement financing, with built-in consumer protections, delivers greater choice for home and business owners by providing access to affordable financing for energy efficiency, renewable energy, water conservation, storm protection, seismic resiliency upgrades, and much more. In addition, Ygrene financing is a proven, successful tool for supporting public policy initiatives -- at no cost to local government. By providing nearly $3 billion of private capital to more than 500 local communities, Ygrene funded projects have created an estimated 57,000 job years and invested millions into local economies across the U.S. Learn more at ygrene.com.
Media: Morgan Hook | This email address is being protected from spambots. You need JavaScript enabled to view it. | 301-801-6949
Chief Technical Officer Dr. Julie Brown Receives Honorary Award of the Korean Information Display Society
EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced its sponsorship and presentation at the 22nd International Meeting on Information Display (IMID 2022). Also at IMID 2022, Dr. Julie Brown, Executive Vice President and Chief Technical Officer, will receive the Honorary Award of the Korean Information Display Society in recognition for her outstanding service and contribution to Korea’s display industry and technology. Organized by the Korean Information Display Society (KIDS), Society for Information Display (SID) and Korea Display Industry Association (KDIA), IMID 2022 is being held August 23-26 at BEXCO in Busan, Korea as a hybrid event.
“We are pleased to sponsor and present at IMID 2022, an international technical display conference and exhibition in Korea. It is also to our great delight to congratulate Julie on the well-deserved recognition and award for her remarkable contributions to the Korean display industry,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “As UDC’s CTO for more than two decades, Julie leads our brilliant team of scientists, engineers and technicians in the discovery, design, development and delivery of state-of-the-art OLED technologies and phosphorescent materials that continually broadens and deepens our portfolio of enabling core competencies. Some of our recent R&D advances on phosphorescent OLED technology for low power consumption high color gamut displays and plasmonic PHOLED will be presented at IMID’s technical program. We look forward to meeting industry friends and partners in Busan.”
This year’s IMID program will include a variety of technical sessions, including presentations by Universal Display’s scientific research team discussing UDC’s current energy-efficient PHOLED technology and high color gamut displays and increasing OLED stability and lifetime with Plasmonic PHOLED. In addition, senior representatives from UDC HQ and UDC Korea will be attending the conference.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,500 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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Darice Liu
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DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE American: REX), a leading ethanol company, announced today that it will report its fiscal 2022 second quarter financial results on Tuesday, August 30, pre-market and will host a conference call and webcast at 11:00 a.m. ET that morning to review the results.
To access the conference call, interested parties may dial 212/231-2925 (domestic and international callers). Participants can also listen to a live webcast of the call by going to the Investors section on the REX website at www.rexamerican.com. A webcast replay will be available for 30 days following the live event.
About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 700 million gallons of ethanol over the twelve-month period ended April 30, 2022. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended April 30, 2022) by the ethanol production facilities in which it has ownership interests was approximately 277 million gallons. Further information about REX is available at www.rexamerican.com.
Douglas Bruggeman
Chief Financial Officer
937/276‑3931
Joseph Jaffoni, Norberto Aja
JCIR
212/835-8500
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Financing accelerates development of new solar and wind projects in the United States
NEW YORK--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced that KKR has led a significant structured investment in Arevia Power (“Arevia” or the “Company”), a U.S. renewable energy developer, with strategic participation by GCM Grosvenor, a leading global alternative asset management solutions provider. The investment will support the Company’s accelerated growth and development of new solar and wind projects throughout the United States.
Founded in 2015, Arevia is a dedicated solar and wind project developer that originates, permits, and manages renewable energy projects through their lifecycle. Currently, Arevia is advancing a multi-gigawatt (“GW”) portfolio of early-stage projects across the country. Arevia’s projects are responsibly sited and aim to meet local and regional energy demand with a focus on mitigating environmental impacts and minimizing impacts to surrounding communities. Arevia’s founders, industry veterans Mark Boyadjian and Ricardo Graf, have a demonstrated track record of success, having fully developed over 2 GW of utility-scale solar photovoltaic infrastructure.
In tandem with the investment, Arevia has executed a Responsible Contractor Policy (“RCP”) for its entire clean energy portfolio throughout the United States. The RCP actively promotes a highly skilled workforce with a strong commitment to health and safety on the job, fair wages, and benefits, and future workforce development.
“Now is a critical time for the energy transition, and we are elated by this milestone that gives us the flexible capital needed and the right partners to expand our solar and wind project pipeline throughout the country in a thoughtful way.” said Mr. Boyadjian, Managing Partner at Arevia. “KKR is an outstanding new strategic partner with deep renewables and infrastructure experience, and GCM Grosvenor is an equally accomplished infrastructure investor who has also been particularly successful in investing in partnership with organized labor groups. Together, this platform investment and new relationship with two world-class investment firms will super-charge our development of clean energy solutions while delivering good-paying jobs and leading the way on responsible development.”
“We’re thrilled to build on our strategy of investing behind premier developers like Arevia as the need and demand for renewable energy rapidly accelerates,” said Samuel Mencoff, a Director on KKR’s asset-based finance team. “Arevia’s experience successfully executing critical development projects and deep network position it at the forefront of the industry amid strong economic and public policy tailwinds. We look forward to supporting the company in its efforts to shift toward cleaner sources of energy supply.”
“With our investment, we are helping Arevia pursue its mission to drive change by building large-scale renewable infrastructure projects,” said Akhil Unni, Managing Director at GCM Grosvenor. “Not only are we putting capital to work in a way that helps support environmental sustainability and meet applicable renewable portfolio standards, but we are also proud of Arevia’s commitment to an organized skilled workforce.”
Since 2011, KKR and its subsidiaries have deployed over $15 billion in equity to invest in renewable assets, such as solar and wind, which have an operational power generation capacity of over 23 GW, as of December 31, 2021. KKR is making its investment in Arevia from its managed insurance accounts. The investment from GCM Grosvenor will come from its infrastructure practice.
Willkie Farr & Gallagher LLP and Munish Dayal, Arevia’s outside general counsel, served as legal advisors to Arevia Power. Amis, Patel & Brewer LLP served as legal advisor to KKR and Allen & Overy served as legal advisor to GCM Grosvenor.
About Arevia Power
Founded in 2015, Arevia Power is an independent U.S. utility-scale solar and wind developer. Arevia’s founders have originated over 12GW of greenfield renewable assets primarily on federal and state lands throughout the U.S. Arevia Power was responsible for originating, NEPA permitting, power-contracting, and leading the development of the Gemini Solar + Storage Project between February 2017 and May 2021. Arevia’s core competency is early and often stakeholder collaboration to create mutually beneficial solutions, engendering community trust. Arevia maintains unique value through an explicit focus on transmission and land.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $71 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of over 510 professionals serves a global client base of institutional and high net worth investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, and Seoul. For more information, visit: gcmgrosvenor.com.
Media Contacts
For Arevia:
Matthew Driscoll
Communications Director, R&R Partners
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M:610-416-9115
For KKR:
Miles Radcliffe-Trenner
212-750-8300
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For GCM Grosvenor:
Tom Johnson and Will Braun
Abernathy MacGregor
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212-371-5999
BOSTON--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, has revealed that nearly 9 out of 10 (86%) global consumers believe climate change will lead to rising energy bills and individuals should play a larger role on climate change.
Key findings from consumer study include:
Jaap Ham, Associate Professor in the Industrial Engineering & Innovation Sciences at Eindhoven University of Technology, who consulted on the report findings says: “With energy prices on the rise and the cost of living higher than ever, coupled with the growing number of devices and Electric Vehicles (EVs) on the road, home energy management is now one of the biggest areas of consideration for consumers, home builders, businesses and governments globally. While these numbers show many wanting to make changes but feeling pessimistic about the difference they can make - the future is truly in our hands as we make dwellings more sustainable with the help of modern home energy management (HEM) technologies. The biggest barrier to change right now is our mindset. We have created psychological roadblocks that result in us shirking the responsibility to take action. These findings show that as we adopt smart digital solutions to fight the invisible foe (energy management and consumption), replace fossil fuels with smart, clean electricity in our homes’ energy diets, we can see how we’re making a meaningful contribution to our global fight for the healthier planet. Moreover, we should be able to do good for the environment without compromising on our comfort.”
Consumers on the lookout for Smart Home devices to improve energy efficiency at home
The study also reveals that today’s consumers want to lead sustainable lifestyles, putting energy efficiency at home as their major priority.
Coupled with the already rising cost of living, managing energy consumption and costs are the fundamental drivers causing consumers to take actions and invest in smart sustainable solutions.
Schneider Electric leads with Smart and Sustainable Home Innovation
Answering the need for sustainable innovation to enable consumers in their quest to improve energy efficiency and sustainability in the home, Schneider Electric is stepping forward to help solve the energy challenges of today and tomorrow. By bringing innovative solutions and materials to reduce carbon footprint, by working with others and by fully capturing the power of its technologies and services, the company can help to make energy use at home smarter and efficient and reduce impact of homes on the planet.
YiFu Qi, Executive Vice-President of Global Home and Distribution at Schneider Electric, says: “Consumers in the current energy crisis need to feel they are in control over how energy is produced, stored and distributed in the home – in terms of sustainability and energy bills. The residential market is at a tipping point, and the good news is the technological solutions already exist, like Wiser, that help consumers lead more sustainable lifestyles and empower them to play a meaningful role in achieving our net zero goals. Our research shows there is a greater understanding amongst consumers about how they can improve their home energy management and that smart home technology can help them be more efficient. The next step is to implement this knowledge before it’s too late.”
For more information, please visit https://www.se.com/ww/en/work/campaign/homes-of-the-future/
For a full copy of the survey data, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights
Hashtags: #PressRelease # HomesOfTheFuture #NetZeroHomes #Sustainability
Schneider Electric Media Relations – Thomas Eck, (919) 266-8623; This email address is being protected from spambots. You need JavaScript enabled to view it.
THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate” or the “Company") today announced that it will attend and present at the Gastech Conference and Exhibition from September 5-8 in Milan, Italy. Excelerate executives will be at Exhibition Booth 13O41 throughout the conference to discuss the Company’s leading portfolio of flexible LNG infrastructure solutions and share its latest project developments around the world and business strategy.
Excelerate’s Executive Vice President and Chief Commercial Officer, Daniel Bustos, will participate in a panel discussion focused on the important role natural gas plays in the transition to clean energy:
The importance of natural gas in broadening energy supply options and phasing down coal
Wednesday, September 7, 10:45 CET
Excelerate will also sponsor and participate in a Leadership Roundtable discussing the near-term opportunities for gas infrastructure following the reduction in Russian gas supplies to Europe. The discussion will highlight the important role North America’s gas pipeline development plays in meeting increased production needs, as well as the innovative value chain and market creation required to sustain future production demand:
Gas infrastructure: Renewed interest and long-term future
Tuesday, September 6, 12:30-13:15 CET
Executive Boardroom, Gastech Energy Club
For additional conference information, please visit: https://www.gastechevent.com/.
ABOUT EXCELERATE ENERGY:
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.
Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
FGS Global
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STAMFORD, Conn.--(BUSINESS WIRE)--#automationsolutions--ClearDox LLC (ClearDox) announced today that By-Lo Oil Company has licensed its ClearDox® Spectrum intelligent document processing (IDP) software solution to digitize manual processes associated with the reconciliation of customer pricing information. Founded in 1962, By-Lo sells gasoline and diesel fuel to jobbers throughout the Great Lakes and Texas, as well as to consumers through its 21 SpeedyQ Markets convenience stores throughout Michigan.
By-Lo sought an IDP solution that would eliminate inefficiencies associated with manual processes requiring back-office staff to reconcile sales and deliveries against accounting system data. With plans to expand on the horizon, it was critical for their staff to focus less on manual tasks and more on strategic projects supporting growth.
“We partnered with ClearDox for two main reasons. One is that their platform checks all our boxes in terms of features and functionality — it will allow us to significantly increase efficiency and expand into new markets without hiring new resources,” said By-Lo CEO Kyle Lawrence. “The other reason is their people. Because the ClearDox team has extensive experience in the energy industry, they genuinely understand our business and the challenges we’re facing. That’s a very powerful advantage other potential partners couldn’t offer.”
With Spectrum, pricing data from emails sent to By-Lo customers is automatically extracted, standardized and validated against the pricing data in By-Lo’s accounting system. Staff are automatically alerted when discrepancies are detected, and can use Spectrum’s collaboration tool to quickly resolve them by communicating with colleagues directly from the user interface. Because staff are only involved in addressing discrepancies, they can spend more time on higher-value projects that support business growth.
“By-Lo has recognized that automating manual processes is critical to achieving the extremely high levels of efficiency and productivity required to grow and compete in a very volatile market,” said Rick Nelson, CEO, ClearDox. “We’re looking forward to building a long-term partnership that supports their expansion and other business initiatives.”
About ClearDox LLC
ClearDox® helps commodities companies turn manual processes into a competitive advantage. Our ClearDox Spectrum intelligent document processing (IDP) solution improves productivity, reduces operational risk and helps businesses make smarter decisions by automating data classification, extraction and reconciliation.
Spectrum, developed by commodity industry veterans, has helped leading companies including Gulf Oil and Freepoint Commodities automate processes related to inventory management, trade confirmations, invoice approvals and movement actualization. The solution, which handles both digital and handwritten documents, extracts data using advanced technologies such as AI, ML and NLP to ensure the highest level of accuracy before integrating it into CTRM, accounting, scheduling and other downstream systems.
For more information, visit cleardox.com.
Lauren LaFronz
Tel: +1.203.542.6021
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that in connection with its recently renewed $60.0 million share repurchase program, the Company has repurchased 687,740 shares of its common stock in open-market purchases in August, at an average price of $29.08 per share, for a total cost of approximately $20.0 million. The shares repurchased will be retired. The Company has approximately $40.0 million available under the current $60.0 million share repurchase program.
ABOUT INTERNATIONAL SEAWAYS, INC.
International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 78 vessels, including 13 VLCCs (including three newbuildings), 13 Suezmaxes, five Aframaxes/LR2s, eight LR1s and 39 MR tankers. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.
Forward-Looking Statements
This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the consequences of the Company’s merger with Diamond S and plans to issue dividends, its prospects, including statements regarding vessel acquisitions, expected synergies, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2021 for the Company, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.
Investor Relations & Media:
Tom Trovato, International Seaways, Inc.
(212) 578-1602
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Port Houston Chairman Receives Prestigious Recognition
HOUSTON--(BUSINESS WIRE)--Insert at the beginning of the twelfth paragraph of the release dated August 22, 2022: Congressmembers Sheila Jackson Lee, Randy Weber, and Sylvia Garcia presented their congratulations and spirit of collaboration to Chairman Campo and the Port with Congressional Certificates of Recognition.
The updated release reads:
RIC CAMPO MARITIME LEADER OF THE YEAR
Port Houston Chairman Receives Prestigious Recognition
Port Houston Chairman Ric Campo was honored as the 2022 Maritime Leader of the Year by the Greater Houston Port Bureau (GHPB) at its annual black-tie dinner held Saturday in Houston. The Port Bureau Board of Directors selected Campo as the 2022 honoree for his "steadfast commitment to improving the greater Houston port region."
"Over 700 maritime and community guests attended the Greater Houston Port Bureau's dinner to honor Ric Campo as the 2022 Maritime Leader of the Year," said CAPT Bill Diehl, president of the Greater Houston Port Bureau. "As chairman of the Port Commission of the Port of Houston Authority, Ric has earned the respect of the industry and the community with his tenacious approach to solving problems and creating value to a very diverse group of stakeholders."
Among other notable achievements, Campo was instrumental in the successful start of Project 11, the widening and deepening of the Houston Ship Channel, which broke ground in May. Project 11 is designed to improve the nation's busiest waterway by creating safer and more efficient navigation for the ships and vessels that transport goods and cargo through the channel, and ultimately deliver more jobs and economic impact to the Houston region, state, and nation.
"I am honored and humbled by the recognition from the GHPB," said Campo. "This recognition is clearly a direct result of the great team of commissioners and staff at Port Houston doing great things for our community."
Campo has consistently shared praise for the success of Project 11 with the U.S. Army Corps of Engineers, sectors of the maritime industry, and the bi-partisan collaboration of elected officials and local community members.
During the event, Texas Governor Greg Abbott expressed his appreciation for Campo's leadership and dedicated efforts as Chairman of the Port of Houston Authority Commission via recorded remarks.
Abbott thanked Campo for "dedicating efforts to improving the greater Houston Port region." He also commended him for promoting "economic growth and environmentally sustainable initiatives in Port Houston" and working "with the industry and local community to help advance the Houston Ship Channel and make tremendous port improvements."
"Under [Campo's] leadership, the Houston Ship Channel has been widened and deepened, leading to continued economic prosperity and job growth in the region," said Abbott. "Thanks to [Campo's] efforts, the Port of Houston will continue to thrive as an economic force for the region as well as for the state of Texas, creating jobs and opportunities for generations of Texans to come."
Houston Mayor Sylvester Turner and Harris County Commissioner Precinct 2 Adrian Garcia delivered remarks in person.
"I congratulate Ric on receiving the Maritime Leader of the Year award. When we appointed him to the position, I knew he was the right person at the right time. As Chairman, his vision has steered Port Houston to new heights, and he has championed equity, diversity, and inclusion. Ric has prioritized building relationships in communities throughout the City of Houston and has opened communications with neighborhoods around the Port and works to build new partnerships between communities and the Port," said Mayor Turner.
"I’m happy Ric is being recognized for his leadership and commitment to our region. Since being appointed Chairman, Ric has worked hard to open more doors to small businesses and prioritize economic growth in our area and helped to ensure that the future of the port remains bright amidst a complex and changing global economy," said Commissioner Adrian Garcia.
Congressmembers Sheila Jackson Lee, Randy Weber, and Sylvia Garcia presented their congratulations and spirit of collaboration to Chairman Campo and the Port with Congressional Certificates of Recognition. Multiple elected officials and community leaders also attended the dinner.
Campo is Chairman of the Board and Chief Executive Officer of Camden Property Trust and has served in this capacity since May 1993. He was appointed as Chairman of the Port Commission in January 2019 by the City of Houston and Harris County Commissioners Court.
The unprecedented challenges in the global supply chain over the past two years have highlighted the critical importance of ports and the maritime industry, and the cargo moving through the Houston Ship Channel touches every Congressional District in the nation.
Known locally as Project 11 because it is the eleventh major Houston Ship Channel waterway construction project in its more than 100-year history, Project 11 is expected to add an increased $134 million annual economic impact and, ultimately, more jobs to the region. It is on schedule for completion in 2025.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at PortHouston.com.
Lisa Ashley-Daniels, Director, Media Relations, Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Port Houston Chairman Receives Prestigious Recognition
HOUSTON--(BUSINESS WIRE)--Port Houston Chairman Ric Campo was honored as the 2022 Maritime Leader of the Year by the Greater Houston Port Bureau (GHPB) at its annual black-tie dinner held Saturday in Houston. The Port Bureau Board of Directors selected Campo as the 2022 honoree for his "steadfast commitment to improving the greater Houston port region."
"Over 700 maritime and community guests attended the Greater Houston Port Bureau's dinner to honor Ric Campo as the 2022 Maritime Leader of the Year," said CAPT Bill Diehl, president of the Greater Houston Port Bureau. "As chairman of the Port Commission of the Port of Houston Authority, Ric has earned the respect of the industry and the community with his tenacious approach to solving problems and creating value to a very diverse group of stakeholders."
Among other notable achievements, Campo was instrumental in the successful start of Project 11, the widening and deepening of the Houston Ship Channel, which broke ground in May. Project 11 is designed to improve the nation's busiest waterway by creating safer and more efficient navigation for the ships and vessels that transport goods and cargo through the channel, and ultimately deliver more jobs and economic impact to the Houston region, state, and nation.
"I am honored and humbled by the recognition from the GHPB," said Campo. "This recognition is clearly a direct result of the great team of commissioners and staff at Port Houston doing great things for our community."
Campo has consistently shared praise for the success of Project 11 with the U.S. Army Corps of Engineers, sectors of the maritime industry, and the bi-partisan collaboration of elected officials and local community members.
During the event, Texas Governor Greg Abbott expressed his appreciation for Campo's leadership and dedicated efforts as Chairman of the Port of Houston Authority Commission via recorded remarks.
Abbott thanked Campo for "dedicating efforts to improving the greater Houston Port region." He also commended him for promoting "economic growth and environmentally sustainable initiatives in Port Houston" and working "with the industry and local community to help advance the Houston Ship Channel and make tremendous port improvements."
"Under [Campo's] leadership, the Houston Ship Channel has been widened and deepened, leading to continued economic prosperity and job growth in the region," said Abbott. "Thanks to [Campo's] efforts, the Port of Houston will continue to thrive as an economic force for the region as well as for the state of Texas, creating jobs and opportunities for generations of Texans to come."
Houston Mayor Sylvester Turner and Harris County Commissioner Precinct 2 Adrian Garcia delivered remarks in person.
"I congratulate Ric on receiving the Maritime Leader of the Year award. When we appointed him to the position, I knew he was the right person at the right time. As Chairman, his vision has steered Port Houston to new heights, and he has championed equity, diversity, and inclusion. Ric has prioritized building relationships in communities throughout the City of Houston and has opened communications with neighborhoods around the Port and works to build new partnerships between communities and the Port," said Mayor Turner.
"I’m happy Ric is being recognized for his leadership and commitment to our region. Since being appointed Chairman, Ric has worked hard to open more doors to small businesses and prioritize economic growth in our area and helped to ensure that the future of the port remains bright amidst a complex and changing global economy," said Commissioner Adrian Garcia.
Multiple elected officials and community leaders also attended the dinner.
Campo is Chairman of the Board and Chief Executive Officer of Camden Property Trust and has served in this capacity since May 1993. He was appointed as Chairman of the Port Commission in January 2019 by the City of Houston and Harris County Commissioners Court.
The unprecedented challenges in the global supply chain over the past two years have highlighted the critical importance of ports and the maritime industry, and the cargo moving through the Houston Ship Channel touches every Congressional District in the nation.
Known locally as Project 11 because it is the eleventh major Houston Ship Channel waterway construction project in its more than 100-year history, Project 11 is expected to add an increased $134 million annual economic impact and, ultimately, more jobs to the region. It is on schedule for completion in 2025.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at PortHouston.com.
Lisa Ashley-Daniels, Director, Media Relations, Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Marine Radar Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The marine radar market is poised to grow by $147.29 mn during 2022-2026, decelerating at a CAGR of 3.59% during the forecast period. The report on the marine radar market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by technologically advanced systems and rising defense budgets as a result of an increase in security-related issues.
The marine radar market analysis includes the application segment and geographic landscape.
The marine radar market is segmented as below:
By Application
By Geographical Landscape
This study identifies the rise in marine tourism as one of the prime reasons driving the marine radar market growth during the next few years.
The report on marine radar market covers the following areas:
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/bj6sfr
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AUSTIN, Texas--(BUSINESS WIRE)--Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham Minerals,” “Brigham,” or the “Company”), today announced it has entered into a definitive purchase and sale agreement to acquire certain mineral and royalty interests in the Midland Basin from royalty funds managed by Avant Natural Resources, LLC and its affiliates for approximately $132.5 million in cash subject to certain closing adjustments (the “Midland Acquisition”).
MIDLAND ACQUISITION CONTINUES PERMIAN CONSOLIDATION AND VALUE CREATION
Robert M. (“Rob”) Roosa, Chief Executive Officer, commented, “Our continued success consolidating core minerals is clearly demonstrated by our largest acquisition to date. Our patient and disciplined approach allowed us to capture the opportunity to significantly increase our Midland Basin footprint under highly active, top performing operators including Endeavor, Pioneer and ExxonMobil, who in total are operating more than 40 rigs in the basin. I personally view this acquisition as the highest quality Midland Basin package we’ve evaluated to date given both the diversification across two of the most prolific geologic counties in the lower 48 and the high-quality operator composition. As a result, we anticipate this acquisition will generate industry leading activity as well as strong production and cash flow growth. We’ve purposefully maintained a conservative balance sheet and have continued to high grade our portfolio to maintain flexibility to capture these types of opportunities, and subsequent to closing the acquisition still maintain flexibility with net debt to LQA EBITDA at less than 0.6x.”
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Based on estimated pro forma redetermined borrowing base |
ABOUT BRIGHAM MINERALS, INC.
Brigham Minerals is an Austin, Texas, based company that acquires and actively manages a portfolio of mineral and royalty interests in the core of some of the most active, highly economic, liquids-rich resource basins across the continental United States. Brigham Minerals’ assets are located in the Delaware and Midland Basins in West Texas and New Mexico, the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming, and the Williston Basin in North Dakota. The Company’s primary business objective is to maximize risk-adjusted total return to its shareholders by both capturing organic growth in its existing assets as well as leveraging its highly experienced technical evaluation team to continue acquiring minerals.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including production and other guidance within this press release. These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, operator capital discipline and inflation impacts on their cash flows, the Company’s ability to integrate acquisitions into its existing business, changes in oil, natural gas and NGL prices, weather and environmental conditions, the timing of planned capital expenditures, availability of and competition for acquisitions, operational factors affecting the commencement or maintenance of producing wells on the Company’s properties, the condition of the capital markets generally, as well as the Company’s ability to access them, economic and competitive conditions, including those resulting from the current conflict between Russia and Ukraine and elevated inflation levels resulting from global supply and demand imbalances, the proximity to and capacity of transportation, uncertainties regarding environmental regulations or litigation, global or national health events, including the ongoing spread and economic effects of the ongoing COVID-19 pandemic, potential future pandemics, the actions of the Organization of Petroleum Exporting Countries and other significant producers and governments and the ability of such producers to agree to and maintain oil price and production controls and other legal or regulatory developments affecting the Company’s business and other important factors. These and other applicable uncertainties, factors and risks are described more fully in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, the Company’s actual results and plans could differ materially from those expressed in any forward-looking statements.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise except as required by applicable law.
At the Company:
Brigham Minerals, Inc.
Blake C. Williams
Chief Financial Officer
(512) 220-1500
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Funding from Builders Initiative and U.S. Sen. Alex Padilla Enable Innovative Program
LOS ANGELES--(BUSINESS WIRE)--The health of our planet and the future economy will both rely on the resiliency of our oceans. To meet this urgency, Santa Monica College (SMC) students will have the opportunity to explore aquaculture and work with some of the leading businesses and scientists in the field. These groundbreaking collaborations will shepherd in a new era of workforce development in the blue economy.
A multi-year grant from Builders Initiative and community project funding from U.S. Sen. Alex Padilla will enable SMC to fund curriculum development and provide faculty support for its innovative new Aquaculture Certificate program. The new career pathway, designed to serve the needs of the growing aquaculture industry, will include a series of courses and material covering Marine Biology; Phycology; Seawater Chemistry; Aquaculture; Hatchery Techniques; Living System Design; and an internship.
“I am proud to have secured funding that will give LA students STEM learning experiences in the emerging Blue Economy – a vital and growing sector of California’s 21st century economy,” Senator Alex Padilla said in an announcement earlier this year. “This program will provide students in underserved communities a pathway to good-paying jobs that tackle climate change and our most pressing challenges.”
As part of the program, SMC is partnering with AltaSea at the Port of Los Angeles, a sprawling 35-acre non-profit center devoted to accelerating scientific collaboration and advancing the blue economy through business innovation and job creation. Drawing equitable pathways for workforce training and career placement, the partnership will encourage students to work alongside the world’s finest marine scientists as they conduct breakthrough research and discover solutions in areas such as energy supply, climate change, and global food security.
“According to the Los Angeles County Economic Development Corporation (LAEDC) Institute of Applied Economics, conservative estimates indicate that the value of the blue economy will double over the next decade, with a projected global value of $3 trillion by 2030,” said SMC Superintendent/President Kathryn E. Jeffery, Ph.D. “That is a staggering number, and we want to position our students for the first opportunities that exist in one of the world’s fastest growing business sectors.”
As the industry grows, it will need trained workers with the specific skills and knowledge to hit the ground running. This expertise will allow the industry to rapidly evolve and serve many needs such as providing healthy, locally-sourced protein; restoring habitats; sequestering carbon, and providing raw inputs for many culinary, industrial, and pharmaceutical products.
“To save our oceans and shift to a more sustainable global food system, the world needs a rising tide of curiosity, ingenuity, and stewardship, and the classroom is where this all begins. We’re thrilled to see how the students of Santa Monica College answer this call,” says Jelani Odlum, Senior Associate Program Officer at Builders Initiative. “We know that the next generation of ocean advocates, business leaders, and experts will rise out of interdisciplinary efforts like this, in spaces where students aren’t just educated but activated.”
This new relationship between SMC and AltaSea will create a myriad of benefits not only for students, but for businesses rapidly expanding in the blue economy.
All students will be placed in an internship, with a goal to ultimately connect them with a job in their field of study. Meanwhile, blue economy companies will benefit from having a direct pipeline to a well-trained workforce.
The long-term vision of the program is to create post-secondary certificate and degree programs that span blue economy industries and fields of study. In turn, we believe this will scale in-demand programs across the L.A. region in conjunction with the consortium of community colleges in Los Angeles County.
“Wayne Gretzky’s adage that 'you don’t go to where the puck is, but where the puck will be’ is what California community colleges do every day. We engage and collaborate with employers and are informed by data to determine the trends that will define our future regional economies,” added Sandra Sanchez, Vice Chancellor, California Community College Chancellor’s Office. “This collaboration started as a good idea, was incubated through the state’s Strong Workforce funding, and is poised to be scaled across the region and be a model for the entire state.”
The recently released LAEDC-led Center for a Competitive Workforce (CCW) “Ocean Economy 101” report states: “To fully realize the value of the ocean economy, leaders across Los Angeles must not only further support the development of skills driven curriculum that sustains industry growth across the higher education institutions but work to structure the necessary regional coordination that incubates entrepreneurs, research and development, and business formation in this sector.” The report can be found here.
“Southern California would emerge as a world leader in the blue economy,” Jeffery said, “and we intend to make sure our students are ready to help innovative businesses do just that.”
About Builders Initiative
Builders Initiative is the philanthropic team of Builders Vision, an impact platform dedicated to supporting people and organizations building a more humane and healthy planet. Builders Initiative is a strategic philanthropy that includes grantmaking and impact investing.
For more information on Builders Initiative, please visit https://www.buildersinitiative.org/
About Santa Monica College
Santa Monica College is a California Community College accredited by the Accrediting Commission for Community and Junior Colleges (ACCJC) of the Western Association of Schools and Colleges (WASC). For 31 consecutive years, SMC has been California’s leading transfer college to UCLA, UC Berkeley, and other University of California campuses. The college also tops in transfers to the University of Southern California and Loyola Marymount University and is the top feeder west of the Mississippi to the Ivy League Columbia University. More than 110 career training degrees and certificates at SMC—in fields ranging from the traditional (Accounting, Early Childhood Education, Nursing) to the emerging (Sustainable Technologies, Technical Theatre, and a baccalaureate degree in Interaction Design)—offer professional preparation for students interested in directly entering the job market, transferring to a four-year school, or upgrading specific skills. SMC provides news and cultural enrichment through its NPR radio station KCRW (89.9 FM), the Broad Stage at the SMC Performing Arts Center, and lifelong learning through distinctive programs such as its Emeritus Program for older adults.
For more information on Santa Monica College, please visit https://www.smc.edu/
About AltaSea at the Port of Los Angeles
AltaSea at the Port of Los Angeles is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world.
For more information on AltaSea, please visit: https://altasea.org
Jacob Scott
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412-445-7719
HOUSTON--(BUSINESS WIRE)--$WM--WM (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.65 per share payable Sept. 23, 2022 to stockholders of record on Sept. 9, 2022.
ABOUT WM
WM (WM.com) is North America's largest comprehensive waste management environmental solutions provider. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants and the most gas-to-electricity plants in North America. WM's fleet includes nearly 11,000 natural gas trucks – the largest heavy-duty natural gas truck fleet of its kind in North America – where more than half are fueled by renewable natural gas. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.
Waste Management
Website
investors.wm.com
Analysts
Ed Egl
713.265.1656
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Media
Toni Werner
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Innovative New Craft Designed Specifically for Electric Propulsion
ELKHART, Ind.--(BUSINESS WIRE)--Godfrey Pontoons, a leading manufacturer of pontoons built with enduring quality and superior craftsmanship, announced today a new model for 2023 – the Mighty G. One of the latest innovations from Godfrey, the Mighty G is the brand’s first pontoon that was designed from the ground up to be powered by electric or gas-powered engines.
“With electric motors gaining traction with current boaters and those looking for their first pontoon, our product team designed the Mighty G with electric propulsion in mind right from the start – it wasn’t an afterthought or an add-on,” said Ben Duke, president of Marine, Polaris. “The teams incorporated design elements to support maximizing the efficiency of the platform, such as using full-sized tubes to enable ideal flotation levels and minimize drag in the water, making Mighty G optimal for customers looking for an electric pontoon. Additionally, Mighty G can pair with traditional gas-powered propulsion systems, creating an incredibly versatile option for all boaters in the market for a pontoon.”
Compact and highly maneuverable, the Mighty G is the ultimate entry into pontooning and boating. It is built on a true pontoon foundation for a familiar and comfortable ride, but unlike other pontoons where power is an afterthought, the Mighty G is compatible with either electric or gas propulsion. With a length of 15-feet, seven inches and a seven-foot, six-inch beam the Mighty G offers plenty of room for up to seven passengers, while the shortened deck height off the tubes creates a stiffer chassis that lowers the pontoon’s center of gravity and helps contribute to efficiency and added performance with both electric and gas engines.
Available in two models optimized for either cruising or fishing, this versatile craft provides everything a family or angler needs for a fun and productive day on the water. Both models are available with the option of Torqeedo Cruise 3.0, Cruise 6.0 or Cruise 12.0 electric engines, making it a spacious option for lakes and reservoirs that limit propulsion to electric only. For gas-powered outboards, the models are rated up to 50 HP, which is enough power for tow sports like slalom waterskiing. Standard features include durable, yet comfortable bench-style seating, a telescoping EZ Climb Ladder, robust Clarion sound, and a fishing station with rod holders and tackle storage (standard on the Fish model, an option on the Cruise model). Additionally, Godfrey has released the new Nightshade boat cover as standard on both models. The efficient and easy to use cover is trailerable up to 70 mph and provides convenient access to the boat when deployed. Full 360-degree RGB under deck lighting is available, as well as an optional sunshade for protection from the sun and a cell phone mount at the helm station.
For more information on Godfrey or its full lineup of pontoons, please visit www.godfreypontoonboats.com.
About Polaris
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris’ high-quality product line-up includes the Polaris RANGER®, RZR® and Polaris GENERAL™ side-by-side off-road vehicles; Sportsman® all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle® mid-size and heavyweight motorcycles; Slingshot® moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com
Melissa Ramey
Senior Marketing Manager
Godfrey Marine
574-970-5189
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Global infrastructure solutions provider identifies opportunities to achieve cost-effective, deep decarbonisation for Australia’s heavy industry
MELBOURNE, Australia--(BUSINESS WIRE)--Integrating mining infrastructure solutions across power, water and other critical technologies provides Australia’s mining industry with opportunities to overcome sustainability challenges at every stage of the mining process.
In its new eBook, Beyond Renewables: Impactful Decarbonisation of Australia’s Mining Sector, Black & Veatch examines emerging opportunities and provides insights into decarbonising Australia’s mining operations.
The eBook acknowledges that while mining companies have made substantial progress in recent years, many with long-established sustainability programs, opportunities have emerged to accelerate the impact of their decarbonisation efforts.
In the eBook, Black & Veatch’s water and energy experts propose that developing robust decarbonisation roadmaps will help mining companies manage and understand limited budgets, technology timelines and complex regulations over potentially a 30-year span, a timeframe similar to making major infrastructure investments.
“Decarbonisation strategies require the long view. When planning phases span decades, it is important to avoid the consequences of getting locked into path dependency or stranded assets by having a clear understanding of technology maturity and cost. We provide this clarity through our deployment of a diverse range of technologies, combined with our objective assessment of the maturity of emerging technologies,” said Mick Scrivens, Vice President, Director, Australia Pacific, Black & Veatch.
Decarbonisation roadmaps will help mining companies evaluate competing commercially-ready and emerging technologies, and present a de-risked pathway to zero emissions. Such roadmaps demonstrate to investors and communities that mining operators are systematically analysing the economic and operational feasibility of each infrastructure investment along the timeline.
The eBook also covers a range of other topics of interest including green hydrogen production, long-term energy storage, fleet and equipment electrification, direct air capture, net-zero water recycling, emissions-free explosives, small modular reactor nuclear power as well as future revenue opportunities through electricity production after mine closure.
Scrivens will be speaking about Australia’s opportunities for decarbonisation at NT Resources Week in August.
Editor’s Notes:
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
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