BEAUFORT, S.C.--(BUSINESS WIRE)--OptiFuel Systems (“OptiFuel”), a decarbonization solutions provider of products and systems for eliminating emissions in the rail, marine, and power generation markets, has signed a Collaboration Agreement with the Argentina Ministry of Transportation through Ferrocarriles Argentinos Sociedad del Estado (F.A.S.E). The objective of this agreement is to develop a project to repower and put into service 400 switcher and line haul freight locomotives, all 100% powered by compressed natural gas (CNG) and/or renewable natural gas (RNG) with low or zero emissions, in line with the Argentina’s decarbonization goals.
“Our Transportation Modernization Plan is about developing more infrastructure throughout the country, and it is also about innovative technology - such as this change in the energy matrix of our trains, to make them cleaner, more efficient, sustainable and cheaper,” said Argentina Transport Minister Alexis Guerrera. Argentina has prioritized government and public investment to grow the share of freight shipped by rail throughout the country. Over the next ten years, Argentina plans to modernize and decarbonize their entire 40,000-mile rail network, becoming the first country in the world with a complete railroad network operating with ZERO emissions.
“OptiFuel is excited about the opportunity to provide zero emission locomotives, tenders, and refueling equipment to Argentina,” said Scott Myers, President of OptiFuel. “OptiFuel developed and certified these technologies for rail because we believe there is a need for cleaner locomotives that drive increasing value to the world’s railroads, railroad customers, and communities.” Traditional locomotives run on diesel fuel, emitting high levels of NOx, PM, and CO2. OptiFuel’s zero emission rail engine solutions are powered by their EPA certified locomotive CNG/RNG engine rated at 0.00 g/bhp-hr for NOx, 0.000 g/bhp-hr for PM, and Negative CO2 using RNG.
OptiFuel is developing modular repower kits1 for diesel locomotives and new locomotives in all lengths, horsepower levels, and track gauges. For Argentina, OptiFuel will build locomotive kits in the US that will be shipped for local assembly in Argentina, creating new jobs and enhancing business in both countries. These kits will include OptiFuel’s zero emission CNG/RNG engines pods in a hybrid configuration (1500hp - 4500hp); locomotive control modules; and onboard CNG/RNG storage pods that can carry up to 2,000 diesel gallon equivalents (DGEs) of natural gas. OptiFuel will also provide powered tender cars (3,000 hp) that can carry 11,500 DGEs of CNG/RNG and construct an estimated 12-15 CNG fuel stations along Argentina’s rail network, each with the capacity to refuel a tender car in less than an hour.
According to Scott Myers, OptiFuel’s success in rail is due to their systems’ approach in addressing the global emissions dilemma. “We didn’t look at one railroad or even one country,” said Myers. “We stepped back even further and asked: How can we affordably integrate new technology and required infrastructure into the world’s massive railroad networks in a way that is gradual, flexible, reliable, and affordable? The first challenge was incorporating modern technology without sacrificing reliability. The second challenge was engineering flexibility into the system – railroads had different performance needs and access to different sources of power. Then there was the challenge of new technology. The average locomotive operates for more than 40 years! If we were going to begin adding the latest technology, we had to do it in a way in which updates and upgrades could be made efficiently and cost effectively. This led us to OptiFuel’s modular, affordable designs.”
It is OptiFuel’s position that RNG and green hydrogen are the most feasible zero-emission solutions for switcher locomotives, with RNG leading from a cost and accessibility perspective. For line haul operations in the US, RNG is the only practical zero-emission diesel-alternative solution. The reason for this is that RNG requires 2.5 times the volume to store energy versus diesel, and hydrogen requires 11 times the volume, while lithium batteries require 50 to 75 times. This means that the average 150-car train would have to replace almost 50% of the cars with battery tenders. Batteries are poor energy storage solutions for heavy horsepower use, and they require frequent recharging with traditional electricity. The energy coming from the nation’s electric power grid still emits large amounts of criteria and GHG emissions. For this reason, replacing diesel locomotives with 100% battery-electric power would emit more CO2 into the atmosphere over a 10-year period than running 100% diesel over the same period. In addition, batteries start degrading the moment they are employed and are a very expensive storage solution with a short life. With the precarious availability of traditional grid power, and no commercial solutions for “end of life recycling or disposal” of large multi-megawatt battery packs, this creates a real problem for the total life cycle cost and sustainability goals for railroads.
1This material is based upon work supported by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) under the Vehicles Technology Office Award Number DE-EE0009215.
About OptiFuel Systems:
OptiFuel provides zero emissions products (NOx, PM, CO2) for decarbonizing rail, marine, microgrid and power generation applications with innovative, cost-efficient, and sustainable solutions utilizing advanced gaseous fuels, including both renewable natural gas and hydrogen. Recently, OptiFuel announced an expansion round of funding to further scale business operations and strategic opportunities rapidly developing across key markets.
Scott D. Myers, OptiFuel Systems LLC - (339) 222-7575, This email address is being protected from spambots. You need JavaScript enabled to view it.
The voluntary lock-up extension underscores the Company’s conviction in its long-term growth strategy and is in full alignment with investors and all stakeholders
The Board of Directors unanimously approved the amended voluntary share lock-up agreement and includes 100% participation from eligible senior officers
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the “Company”), a leader in sustainable, grid-scale energy storage solutions, today announced that management and senior officers of the Company entered into new time and performance based Lock-up Agreements (“Lock-up Extension”) extending the lock-up deadlines as defined by the original lock-up agreements entered into on February 11, 2022 in connection with the closing of Energy Vault’s Business Combination. When the Business Combination closed, 50% or more of shares underlying equity awards granted to certain senior officers of the Company vested on an accelerated basis. The Lock-up Extension represents approximately 6.7 million shares held by senior officers and the Chairman and Chief Executive Officer, which in total represent approximately 5% of the outstanding shares of the Company.
100% of Energy Vault’s senior officers, whose shares previously vested on an accelerated basis, elected to participate in the voluntary Lock-up Extension which results in senior officer participants subjecting 50% of their accelerated shares (approximately 1.8 million shares) to additional transfer restrictions. In addition, Robert Piconi, Chairman and Chief Executive Officer of Energy Vault agreed to a Lock-up Extension, subjecting 100% of his accelerated shares (approximately 4.9 million in total) to additional transfer restrictions that will expire in July 2025.
Under the Lock-up Extension, these transfer restrictions will be released to the extent that the subject shares would have vested over time. Additionally, shares can be released in equal one-third increments if Energy Vault’s stock trades above designated price thresholds ($15.00, $17.50 and $20.00 per share), for 20 trading days within a 30 trading day period.
“Today’s announcement demonstrates the confidence the entire management team and I have in our long-term growth strategy while further tightening the alignment of the Company with all of our investors and stakeholders,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “While we live in a world in which uncertainty abounds, one thing that we are completely certain about is the need to decarbonize our planet and at a speed much faster than previously thought to preserve a bright future for generations to come. This is our mission at Energy Vault and we remain focused on continuing to deliver on our commitments to our customers and shareholders.”
The Board of Directors unanimously approved the voluntary Lock-up Extension.
About Energy Vault
Energy Vault develops and deploys sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage in realizing decarbonization while maintaining grid resiliency. The company’s proprietary gravity-based energy storage technology and energy storage management and integration platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers. For additional information, please visit: www.energyvault.com.
Energy Vault
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This newly launched collaboration between TenderEasy and Upply enhances functionalities of TenderEasy’s RFQ capabilities empowering professionals in their freight tendering process. The integration of Upply's price benchmark, based on 650 million transactional prices, provides TenderEasy customers with immediate knowledge of their price positioning in the market.
STOCKHOLM & PARIS--(BUSINESS WIRE)--TenderEasy, Alpega’s cloud-based freight procurement solution, is glad to announce its latest partnership with Upply, an AI-driven benchmarking provider offering road, sea and air freight data prices across the globe.
The partnership delivers live benchmarking data to TenderEasy’s users through full integration of Upply’s data into TenderEasy‘s platform, providing them with the necessary information to understand the current prices in the market, as well as their evolution over time. This gives the customer the possibility and the power to decide when a tender is competitive and what steps to take in the potential negotiation rounds with carriers.
“Partnerships and integrations like this one adds value to everyone planning or running a freight RFQ. In such a volatile market, we at TenderEasy want to ensure users have the latest insights to decide if, where and when to run a tender”, says Johan Vagerstam, co-founder of TenderEasy and Director Product Management at Alpega.
“Partnerships in the digital ecosystems are key to provide cutting-edge software and platforms. Even more in the transportation industries today where prices fluctuate on a weekly basis and capacities are difficult to find and secure. Our partnership with TenderEasy aims at sharing market data and making it available directly to supply chain experts in their procurement solutions for them to take the best decisions.” comments Thomas Larrieu, CEO at Upply.
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Four Projects in Ohio and Indiana Will Provide 48 MW of 24/7 Carbon-Free Energy
HOUSTON--(BUSINESS WIRE)--#energy--Tallgrass and Kanin Energy today announced a joint effort to develop four waste heat to power (WHP) clean energy projects. Once developed, the WHP projects will have an installed capacity of more than 48 MW of baseload, carbon-free energy. The projects are a part of Tallgrass’ ongoing efforts to lead in the energy transition.
Waste Heat to Power is a source of clean energy. WHP projects capture heat that is a byproduct from industrial processes and converts that waste heat into electricity, requiring no additional fuels.
All four WHP projects – three in Ohio and one in Indiana – are expected to start producing power in 2024. The projects are expected to generate approximately 410,000 MWh of electricity annually, the equivalent of providing decarbonized power to 38,000 households in the United States.
“Decarbonization is a priority for Tallgrass. We are working hard to identify opportunities to reduce emissions and promote clean power generation and that includes capturing and using heat that is currently wasted to generate electricity,” said Justin Campbell, Vice President – Power & Transmission for Tallgrass. “Kanin’s expertise in this space de-risks and expedites the implementation of this project, which allows us to indirectly offset nearly 250,000 tons of CO2 equivalent a year and provide carbon-free power to local communities where we operate. These are the types of decarbonization opportunities and new investments that we are looking at across our system.”
“We’re excited to be working with Tallgrass to develop these waste heat to power projects. We see 24/7 carbon-free energy as the next frontier of sustainability. We are focused on our proprietary waste heat to power projects because they provide baseload power from heat in industrial processes that would otherwise not be used and to create something valuable – clean energy. This is a great opportunity to help the industrial sector quickly meet their decarbonization goals,” said Janice Tran, CEO of Kanin Energy.
Headquartered in Houston, Texas and Calgary, Alberta, Kanin Energy is among the first companies to develop industrial waste heat to power projects with a technology agnostic approach in North America.
Kanin Energy brings together technology, engineering, and innovative waste heat to power project designs to generate baseload, emissions-free electricity for the grid or on-site use. WHP captures excess thermal energy and converts it into electricity. This is done using an Organic Rankine Cycle (ORC) closed-loop system that uses heat to drive a turbine and generate emission-free power.
Tallgrass owns and operates pipeline and energy infrastructure in 12 states across the country. Tallgrass has emphasized clean power and emissions reduction investments, and this agreement with Kanin Energy further demonstrates Tallgrass’ commitment to decarbonization and enhanced operational efficiency.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management 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 successful development and execution of the referenced WHP clean energy projects; the stated installed capacity and expected power output of the projects; the timing of the completion of the projects; the expectation that these projects will achieve the stated carbon offset and power generation goals; and the expected benefits, economic or otherwise, of the proposed WHP clean energy projects to the local communities, Ohio, Indiana and the broader Midwest region. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Kanin Energy
Kanin Energy is a purpose-built, full turnkey developer that focuses on transforming industrial waste heat into emission-free power. Kanin provides a bundled solution to industrial facilities that include the design, construction, operations, and financing for waste heat to power and other decarbonization projects. Learn more at kaninenergy.com.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.
Kanin Energy Media Inquires
Savini Jayasinghe, 646-868-8078
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DUBLIN--(BUSINESS WIRE)--The "Biogas Market Size, Share & Trends Analysis Report By Source (Municipal, Agricultural, Industrial), By Application (Vehicle Fuel, Electricity, Heat, Upgraded Biogas, Cooking Gas), By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Biogas Market Growth & Trends
The global biogas market size is expected to reach USD 87.85 billion by 2030, according to a new report. The market is expected to expand at a CAGR of 4.3% from 2022 to 2030. Electricity was the dominant application segment in 2021 with a revenue share of 29.85%.
Shifting focus toward the use of renewable sources of energy, mainly in the electricity sector, has considerably boosted the demand for biogas in electricity applications. In addition, the growing need to reduce dependency on fossil fuels is forming lucrative prospects for biogas in applications such as vehicle fuel.
The growing trend of the circular economy, particularly in European countries, is shifting the focus of food and beverage industries towards proper management of food waste to attain a zero-waste economy. Therefore, companies such as Nestle S.A., PepsiCo, Inc., and Unilever plc have started directing some food waste to biogas production to generate power for manufacturing units.
The increasing adoption of biogas in Canada is a major growth driver for the growth of the market in North America. Biogas production is expected to increase to increasing demand for fuel with low emission of harmful gases and the need for a reduction in greenhouse gas emissions.
Manufacturers of biogas are adopting strategies, such as mergers and acquisitions, to increase their market share and production capacity in the region. South Africa is expected to provide ample opportunities for the market on account of ongoing concerns regarding GHG emission levels in the country. The country is focusing on developing biogas production to limit carbon emissions in the country.
Biogas Market Report Highlights
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Biogas Market Variables, Trends & Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.6. Business Environment Analysis: Biogas Market
3.6.1. Industry Analysis - Porter's
3.6.2. PESTEL Analysis
3.6.2.1. Political Landscape
3.6.2.2. Economic Landscape
3.6.2.3. Social Landscape
3.6.2.4. Technological Landscape
3.6.2.5. Environmental Landscape
3.6.2.6. Legal Landscape
3.7. Impact of Covid-19 on Biogas Market
Chapter 4. Biogas Market: Source Estimates & Trend Analysis
4.1. Source Movement Analysis & Market Share, 2021 & 2030
4.2. Municipal - (Landfill and Wastewater)
4.2.1. Agricultural Based Biogas Market Estimates and Forecasts, 2019 - 2030 (Usd Million)
4.3. Industrial - (Food Scrap and Wastewater)
4.3.1. Industrial Based Biogas Market Estimates and Forecasts, 2019 - 2030 (Usd Million)
4.4. Agriculture - (Dairy, Poultry, Swine Farm, and Agricultural Residue )
4.4.1. Industrial Based Biogas Market Estimates and Forecasts, 2019 - 2030 (Usd Million)
Chapter 5. Biogas Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2021 & 2030
5.2. Electricity
5.3. Heat
5.4. Vehicle Fuel
5.5. Upgraded Biogas
5.6. Cooking Gas
Chapter 6. Biogas Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Analysis
7.1. Key Global Players & Recent Developments & Their Impact on the Industry
7.2. Vendor Landscape
7.3. Company Market Position Analysis
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/kk8fwh
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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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, today announced it will host Destination Innovation 2022, its second annual virtual expo, with three dates to maximize engagement with global attendees.
With this year’s theme of “Diversifying, Decarbonizing and Digitizing Flow Control,” the event will focus on how Flowserve is supporting its customers’ energy transition and sustainability goals through its Diversification, Decarbonization and Digitization strategy.
The main event will take place on Wednesday, July 27 at 11 a.m. to 3 p.m. EDT (10 a.m. to 2 p.m. CDT) with events targeted for the Asia Pacific region on Wednesday, August 17 and Europe on Wednesday, September 14.
The virtual expo will feature messages on different technologies such as liquefied natural gas (LNG), hydrogen, carbon capture and vacuum — which offer cleaner, more sustainable options for a low-carbon future. Also showcased will be RedRaven, Flowserve’s comprehensive internet of things (IoT) solution, which is digitizing flow control and helping customers avoid costly, unplanned downtime and equipment repairs.
Attendees can personalize their conference experience for the free, four-hour virtual event by selecting which featured talks, breakout sessions and discussions matter most to them. In addition to hearing how Flowserve products are addressing common application challenges, those in attendance will gain valuable knowledge from thought leaders within Flowserve and key partners, including:
- Gabriel Collins, Baker Botts Fellow in Energy & Environmental Regulatory Affairs at Rice University’s Baker Institute
- Stefan Irrgang, Global Process Owner – Integrity and Reliability, at Shell
- David Breaugh, Manufacturing Business Lead – Americas, at Microsoft
“Energy transition is more important now than perhaps ever before. It impacts the way we think about our future, as well as the markets and industries as we know them,” said Scott Rowe, Flowserve president and chief executive officer. “We are excited to connect with attendees of Destination Innovation 2022 to further expand on the ways we’re continuing to support our customers in reaching their carbon reduction and sustainability goals.”
This free event will have live talks and on-demand sessions that are accessible via desktop, mobile and tablet devices.
To register, go here. Each attendee must register separately using their own name and work email address to attend. On the registration page, attendees can choose which show they’d like to attend. For more information on the expo, visit https://www.flowserve.com/en/about-flowserve/events/conferences/destination-innovation-2022/
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, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (214) 697-8568
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
DUBLIN--(BUSINESS WIRE)--The "Submarine Optical Fiber Cables - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Submarine Optical Fiber Cables Market to Reach $30.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Submarine Optical Fiber Cables estimated at US$22 Billion in the year 2022, is projected to reach a revised size of US$30.8 Billion by 2026, growing at a CAGR of 14.3% over the analysis period. The market in the Americas is estimated at US$4.5 Billion. Transpacific is forecast to reach a projected market size of US$4.2 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Intra-Asia and Transatlantic, each forecast to grow at 10.5% and 17.8% respectively over the analysis period.
Submarine optical fiber cables dominate international voice and data traffic, due largely to the advantages offered in terms of high reliability, security and capacity, cost-effectiveness on major routes. The growing prominence of Cloud and Big Data also necessitates high degree of investments into data centers dispersed across the world.
For cloud and big data concepts to be realized, telecom sector requires strong connectivity between these data centers, thus further raising importance of submarine optical fiber cables. Growing demand for high speed Internet due to the increasing internet usage has led to a rapid surge in the demand for higher bandwidth globally. This growing demand for more bandwidth has been one of the major factors driving the growth of submarine fiber cable market.
Other factors that add to the market growth include large scale deployment of cables in oil and gas industry, increasing use of smart devices, and growing fiber connectivity in developing regions such as Asia and Africa. The growing number of private project developers has led to an increase in the optical cables` length that are being laid.
Growing efforts to improve the bandwidth enables several countries to raise their economic growth by developing submarine systems. The demand for higher bandwidth will pave way for new submarine fiber cable projects. The advanced technological improvements have reduced the manufacturing costs and the installation costs have increased. The costs involved in laying cables can be reduced if the cable laying vessels are embedded with advanced technologies that help in laying the cables correctly without errors.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/15i1tc
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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100% of Olympus’ YE21 operated assets certified as Responsibly Sourced Gas
PITTSBURGH--(BUSINESS WIRE)--Olympus Energy earned the highest possible environmental performance asset-level certifications relying on Project Canary's rigorous, independent environmental assessment process, the company announced today. Olympus’ ratings validate the company's best-in-class ESG performance, industry-leading low-methane emissions, community engagement, and freshwater programs.
"Every day, the Olympus team works to produce natural gas in the most efficient and environmentally responsible manner possible. This certification validates our commitment," Tim Dugan, President and CEO of Olympus Energy, said. "We're deeply proud of the results achieved by doing things the right way and continually seek innovative approaches to unlock even better ESG performance."
Project Canary's high-fidelity, rigorous 800+ data point analysis of existing well sites represents the industry's most comprehensive assessment program. Olympus' low-methane verified environmental attribute performance alongside key initiatives including upgrading local infrastructure voluntarily, holding transparent community dialogue, establishing and practicing an industry-leading emergency response program, water recycling initiatives, and building a wildlife habitat area contributed to the company's top ratings.
"Major domestic and international utilities are seeking the premium Certified Responsibly Sourced Gas producers like Olympus are offering. Net-zero requires solutions for low-methane verified environmental attributes and freshwater use, among other ESG markers," said Chris Romer, Co-founder and CEO of Project Canary. "Not often do we see a producer achieve best-in-class ratings across-the-board like Olympus has. It's a credit to their industry leadership for making environmental integrity fundamental to the business."
Olympus was the first integrated exploration and production company to seek complete upstream and midstream certification, with the Hyperion Midstream review beginning in July.
ABOUT THE COMPANIES:
At Olympus Energy, we strive to actively employ our core values daily, ensuring that we are the natural gas company that communities trust most. Olympus Energy has assembled a large contiguous acreage position in the Appalachian Basin. We currently operate in Allegheny and Westmoreland counties, with an acreage position that expands into Butler and Washington counties. Our position consists of approximately 100,000 net acres positioned in Southwestern Pennsylvania's dry gas core. Visit olympusenergy.com to learn more.
Project Canary is a data analytics company focused on accurate corporate climate ESG data for emission-intensive industrial companies. We are the leaders in holistic environmental assessments (air, water, land, and community). Project Canary scores responsible operations, delivering independent emission profiles via high-fidelity continuous monitoring technology to provide actionable environmental performance data. Our sensor portfolio includes high-fidelity spectroscopy-based methane detection and emissions quantification for the oil and gas sectors, plus Aeris Technologies’ laser-based gas analyzers covering other emissions, including ethane, nitrous oxide, formaldehyde, ethylene oxide, benzene, and more. Formed as a Public Benefit Corporation, Project Canary’s Denver-based team of scientists, engineers, and seasoned industry operators identify and quantify areas to reduce emissions. www.projectcanary.com
Olympus Energy Contact:
Kim Price
Communications Director
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Project Canary Contact:
Rachael Shayne
Chief Marketing Officer
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DENVER--(BUSINESS WIRE)--Sitio Royalties Corp. (NYSE: STR) (“Sitio”) today announced that it will report operating and financial results for the second quarter of 2022 on Monday, August 8, 2022, after the close of trading on the New York Stock Exchange.
Sitio will host a conference call at 8:30 a.m. Eastern on Tuesday, August 9, 2022 to discuss its second quarter 2022 operating and financial results. Participants can access the call by dialing 1-888-440-5983 in the United States or 1-646-960-0202 in other locations with access code 5570483 or via webcast at https://events.q4inc.com/attendee/537881978. The conference call, live webcast and archive of the call can also be accessed through the Investor Relations section of Sitio’s website at www.sitio.com.
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 173,000 net royalty acres (“NRAs,” when normalized to a 1/8th royalty equivalent) through the consummation of over 180 acquisitions to date, after giving effect to the completion of all signed transactions to date. More information about Sitio is available at www.sitio.com.
Forward Looking Statements
This new release contains statements that may constitute “forward-looking statements” for purposes of federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties that could cause our actual results, performance, and financial condition to differ materially from our expectations and predictions. See “Risk Factors” in Falcon’s definitive proxy statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 5, 2022 for a discussion of risk factors related to the merger between Falcon and Desert Peak and Desert Peak’s business. See also Part I, Item 1A “Risk Factors” in Falcon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Part II, Item 1A “Risk Factors” in Falcon’s Quarterly Reports on Form 10-Q , each filed with the SEC for a discussion of risk factors that affect Falcon’s business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them. Sitio undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law.
IR contact:
Ross Wong
(720) 640–7647
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Project emphasizes the initiative's mission to use blockchain capabilities to monitor and verify the production and consumption of clean energy among storage providers
NEW YORK--(BUSINESS WIRE)--Filecoin Green, a Protocol Labs initiative to decarbonize the Filecoin Network, announced today a milestone in their renewable energy partnership with DCENT Storage to enable granular reporting and verification of clean energy consumption of DCENT’s hardware. DCENT, the largest European storage entity on the Filecoin network, will install an array of solar panels at its data center located in Heerhugowaard, Netherlands to expand its clean energy capacity. The partnership will utilize Filecoin Green’s monitoring and reporting tools to verify solar production and hardware electricity consumption.
Installation of the rooftop solar array began in March 2022 and has already seen the installation of 238 panels, each with a capacity to generate 385 watts. This project creates a direct supply of clean energy that will power data storage capabilities and allows the provider to establish a verifiable link between RECs and its on-site energy sources. Unlike offsets, direct energy production increases the proximity of clean energy production and consumption, improving electricity matching capabilities.
This proximity improves transparency around DCENT’s sustainability claims and sets a precedent for verifiable sustainability reporting and clean energy consumption among storage providers. Using Filecoin Green’s suite of reporting and monitoring tools integrated with DCENT’s energy consumption and solar generation, Filecoin storage users can see geographically where their data is stored and view energy consumption metrics.
“Blockchain’s open source nature enables us to provide tools for verifiable, transparent energy reporting and encourage the development of more clean energy capacity as we work to support the energy transition,” says Alan Ransil, Filecoin Green Project Lead. ”Filecoin Green is dedicated to improving the way we report and track sustainability metrics, and helping foster the creation of clean energy sources to power our activities.” In 2021, Filecoin Green mobilized $38M of capital to build new solar generation in the US, which will generate more clean electricity each year than the Filecoin network uses in the US.
Filecoin Green is financing this project through its recently announced Regenerative Finance (ReFi) Green Grants Program, which empowers a series of experimental projects for proof of concept of clean energy capacity and software development. For DCENT, access to clean energy not only reduces reliability on the grid, but allows the data center to continue running consistently during the current energy crisis in Europe. As the data center continues to improve access to granular, real time energy consumption and generation data, they work to gain a thorough understanding of the impact of their clean energy.
“As a previous Ethereum miner, I want to enable use of utility blockchains for sustainable impact, directing their energy usage for good,” says DCENT Computer Hardware Specialist, Hidde Hoogland. “As a 100% renewable energy powered data center, we aspire to empower other storage providers to meet a new standard for localized, clean energy usage and reporting, using Web3. We have developed a guidebook to help other storage providers improve their sustainability”.
ABOUT FILECOIN GREEN
Filecoin Green is a Protocol Labs initiative to decarbonize the Filecoin Network. The initiative is spearheading a future of verifiably clean energy powered by crypto. By marrying blockchain’s granular tracking functionality with the information-sharing infrastructure of Web3, Filecoin Green will incentivize its network to reduce emissions. Starting with decarbonizing the Filecoin Network, the initiative then aims to build open-source tools that quantifiably measure and mitigate emissions generated from crypto-related activity. Filecoin Green aspires to prove that clean blockchain is not an aspiration, but reality. To learn more about Filecoin Green’s mission, visit filecoin.io.
ABOUT DCENT
DCENT Hosting BC is one of the largest European storage entities on the Filecoin Network, located near Amsterdam. They operate with a private IP backbone, 100Gbit/s of throughput, and 100% renewable energy. DCENT places privacy at the core of their vision and aspires to provide 100PiB of mirrored storage by the end of 2022. To learn more about DCENT storage, visit https://dcent.nl/about/.
Media
Emily Taylor
Antenna for Filecoin Green
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HOUSTON--(BUSINESS WIRE)--#Crudeoil--RBN Energy, LLC (“RBN”), a leading energy market consultancy and analytics company, today announced the appointment of John R. Auers as Managing Director of the company’s new Refined Fuels Analytics (“RBN-RFA”) Team. Responsible for management of the RBN-RFA organization, John leads the company’s refinery and refined products consulting, strategic advisory, transaction due diligence, dispute resolution, litigation support, and regulatory strategy services.
“John is one of the most authoritative and best-known refinery experts in the country and is an accomplished leader in the refining industry,” said Rusty Braziel, Chairman, RBN Energy. “Given the critical roles of refining, refinery utilization, and petroleum products in today’s global economy, we are very pleased that John has accepted this challenge and has joined the RBN team as Managing Director of RBN-RFA.”
“I am very excited to be joining RBN’s leadership team as we build out our consulting practice and create new products for oil and gas producers, midstream companies, energy marketers, petchems, energy investors, and, of course, refiners,” John said. “Our mission is all about making refining information and data concise and clearly understandable. Getting to what really matters based on a deep understanding of the technologies and operational details, without dragging our clients through an unnecessary morass of tortuous minutiae. We want our work to make intuitive sense to everyone with an interest in these markets and provide the confidence that our analysis and conclusions are anchored in a rock-solid understanding of how refineries and refined fuels markets work in the real world,” he added.
John joins RBN after over three decades of executive leadership experience at Turner, Mason & Company, where he was executive vice president and responsible for TM&C’s subscription products and consulting assignments in the areas of refining economics and planning, LP modeling, downstream asset valuation, crude oil valuation and capital investment, and strategic planning. He holds a B.S in chemical engineering from the University of Nebraska and an MBA from the University of Houston-Clear Lake. He is a licensed professional engineer in Texas and Nebraska and a member of Texas Society of Professional Engineers and the American Institute of Chemical Engineers.
About RBN Energy
RBN Energy is a leading energy market consultancy and analytics company based in Houston, Texas. The company provides a broad range of consulting services and information products concerning natural gas, natural gas liquids, crude oil, and renewable energy sources. Our mission is to make sense out of the complex and sometimes quite opaque energy markets to create a deep understanding for our clients. To learn more about RBN Energy, please visit www.rbnenergy.com.
TJ Braziel
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(888) 613-8874
Comprehensive, Long-Term Plan Includes Retiring “Big Allis” and Other 1960s-era Fossil Units, Replacing Their Output with Renewable Energy and Battery Storage that could Power More than 2 Million Homes
Once-in-a-Generation Opportunity to Transform NYC’s Energy Landscape, Advancing New York’s Climate Goals and Delivering Historic Victories for Environmental Justice and Union Labor
LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--Rise Light & Power today announced plans to redevelop its Ravenswood Generating Station – New York City’s largest power generator – as a new renewable energy hub to help New York achieve its nation-leading climate goals, including securing 70 percent renewable energy by 2030.
Rise’s innovative clean energy solution, “Renewable Ravenswood,” repositions the 27-acre waterfront industrial site to serve as a central hub that can integrate clean energy sources, including offshore wind and upstate wind and solar, directly into New York City’s electric grid in a coordinated, planned, and reliable manner.
Renewable Ravenswood advances New York’s efforts to accelerate the retirement of the state’s fossil fuel facilities by 2030, particularly those located near historically disadvantaged communities.
Renewable Ravenswood goes further by replacing fossil fuel power with homegrown and locally sourced clean energy while also providing economic opportunities and environmental justice for both its workforce and surrounding communities.
“New York City has for too long relied almost exclusively on fossil fuels to power the city. Our future demands innovative and reliable clean energy solutions, and we will deliver just that with our bold move to retire Ravenswood’s 1960s-era fossil fuel units and transition to a Renewable Ravenswood in its place,” said Clint Plummer, Chief Executive Officer of Rise Light & Power. “Rise Light & Power’s vision for a Renewable Ravenswood will transform New York’s energy system and help the state achieve its ambitious climate targets.”
“New York has established nation-leading goals to tackle the climate crisis head-on, with rapid growth in renewables facilitating the energy transition,” said Paul Segal, CEO of LS Power, owner of Rise Light & Power. “A Renewable Ravenswood provides a coherent path for realizing the city’s and state’s goals for rapid deployment of low-carbon energy resources, while ensuring continued energy security, affordability and reliability as our economy transitions toward net-zero greenhouse gas emissions.”
“The union employees that have proudly run Ravenswood for years will continue to do so because New York City and Rise Light & Power understand the expertise our brothers and sisters bring to the plant every day,” said Jim Shillitto, President of Utility Workers of America Local 1-2. “Union workers built and operated the energy infrastructure that powered the nation over the last century, and we are ready to do the same for the next 100 years. We applaud Rise for recognizing the valuable expertise of our workers and for helping to ready them for jobs in the growing clean energy industry.”
The Renewable Ravenswood comprehensive redevelopment plan encompasses five programs:
Retiring the 1960s-era fossil units at Ravenswood and repurposing the property for renewables will represent a seismic change to New York City’s energy landscape. Plans for Renewable Ravenswood were developed by Rise Light & Power based on engagement with local labor leaders, government officials, and environmental justice and community advocates to ensure delivery of unprecedented benefits, that includes:
If approved by regulators, Ravenswood would power more than 2 million New York homes with renewable energy, in addition to providing clean heating and cooling for up to 15,000 local residences.
Rise plans to file the first of many formal plans and detailed applications with state energy regulators and authorities later this year. Each of Renewable Ravenswood’s five programs are subject to a number of regulatory approvals, and further details will be made available in the coming months.
Rise’s vision for a Renewable Ravenswood is drawing praise from leading community, environmental justice, labor, business, environmental and academic leaders and institutions from across New York City and New York State.
ELECTED OFFICIALS
“I applaud Rise Light & Power for taking steps to transition Big Allis and Ravenswood to a clean energy hub,” said U.S. Congresswoman Carolyn B. Maloney (NY-12). “We are living through a climate emergency, and we need to take bold actions to counteract decades of environmental injustice and bad energy policy. A Renewable Ravenswood not only allows for the green powering of New York City, but it will also be a major step forward on environmental justice. The residents of my district have suffered through decades of pollution. A Ravenswood running on offshore wind power will solve this issue. I look forward to seeing a Renewable Ravenswood being a monument to Long Island City’s future as a clean energy provider.”
“It becomes more apparent each day climate change is having an adverse impact on our communities,” said U.S. Congressman Gregory W. Meeks (NY-5). “It is vital for us to seize the opportunity to produce clean, renewable energy right here in Queens. Renewable Ravenswood’s vision for a future powered by wind, solar and battery technology that lifts-the-floor for all our friends and family is what we need as we face this climate emergency.”
"Asthma Alley is a distinction western Queens is not proud of, and that means our community must be centered during the transition to clean energy with union jobs," said New York Senate Deputy Leader Michael Gianaris. "We need to encourage projects like Renewable Ravenswood, which focus on meeting our climate priorities, including the ambitious goals laid out in the CLCPA passed by our Senate majority, so we can have a just transition and protect our neighbors."
“Northwest Queens has too long been burdened by asthma from fossil fuel plants spewing air pollution day-in and day-out, and is ripe for a just transition to clean energy,” said New York City Comptroller Brad Lander. “To meet our climate goals, we need bold action led by a unionized, green workforce. This is exactly the type of ambitious project we need to clean up our air, meet our climate goals, and achieve a just transition.”
“Queens knows all too well the dangerous consequences that climate change and the unchecked consumption of fossil fuels can have on our communities, especially working-class communities of color. From worsening storms to the worsening health of our families, especially in areas like Asthma Alley in Astoria, these consequences are too dire to ignore any longer,” said Queens Borough President Donovan Richards. “By redeveloping the Ravenswood Generation Station into a renewable energy hub, we will not only take massive steps toward ensuring New York City meets its clean energy goals, but we will also bring a semblance of health and environmental justice to the families who live near the plant, especially those in our public housing. It’s time to act.”
"Dirty fossil fuel plants have wrought havoc on power plant host communities’ local air quality for generations, making them epicenters of environmental injustice," said New York City Council Member James F. Gennaro, Chair of the New York City Council’s Committee on Environmental Protection. "We are in a race against the clock to build renewable energy, and initiatives such as 'Renewable Ravenswood' are crucial to paving the way for a greener New York City."
ENVIRONMENTAL JUSTICE LEADERS AND ADVOCATES
“Turning ‘Asthma Alley’ into a renewable energy corridor is a powerful statement that puts environmental justice at the forefront,” said Eddie Bautista, Executive Director of the New York City Environmental Justice Alliance. “Removing the smokestacks of Big Allis and replacing them with offshore wind and other renewables will show the world that New York City values all of its residents regardless of race, ethnicity or economic status. It shows that the energy infrastructure of the future can be built with everyone in mind. A Renewable Ravenswood can help bring us closer to that future.”
"Ravenswood is a microcosm of our state climate crisis: Vulnerable waterfronts, aging infrastructure, and a reliance on fossil fuels with disproportionate presence in disadvantaged communities,” said Maritza Silva-Farrell, Executive Director of ALIGN and a member of the Just Transition Working Group. “But it can also be a shining example of a just transition, with this plan to retrain union utility workers for green, union jobs and invest in environmental justice for some of our most impacted neighborhoods. It will take all of us, workers, communities, and employers, working together to reach 70% renewable energy by 2030 as set by the CLCPA, and Renewable Ravenswood is a clear and exciting path forward.”
“We look forward to ‘Renewable Ravenswood,’” said Bishop Mitchell Taylor, Co-Founder and CEO of Urban Upbound. “For far too long the people of Long Island City, in particular Queensbridge, Ravenswood, and Astoria have been victims of power generation. The kicker is, we supply 45% of the power and we receive 100% of the pollution. Renewable Ravenswood will change that. Let’s put our money where our mouth is.”
“We applaud the Renewable Ravenswood proposal, given its clear benefits for environmental justice and climate progress,” said Lynn Spivey, President of the NAACP NYCHA Branch. “Rise has proven to be a dependable partner and is proposing real projects that address the disproportionate harm that communities of color have experienced for generations. I look forward to the day these renewable energy projects are implemented, and call on our partners in government to do everything in their power to move this ambitious proposal forward.”
"For too long, our community has been synonymous with fossil fuel generation supplying close to 50 percent of the city's power from Western Queens,” said Costa Constantinides, CEO of Variety Boys & Girls Club of Queens. “The cost of that generation has been asthma rates higher than the borough average of Queens. Today's announcement by Rise Light & Power has the opportunity to change this legacy and begin a new chapter in our community in furtherance of Renewable Row. Renewable Ravenswood is an exciting opportunity to replace fossil fuel generation, keep good union jobs and create a new path here in Western Queens focused on the future. I am fully supportive of this initiative and look forward to supporting this proposal as it moves forward. Our partnership with Rise Light & Power can be a model for how we finally take down the polluting stacks in our city and build an energy revolution."
“Renewable Ravenswood is the vision and plan that Western Queens has been demanding for decades. New sources of renewable energy, like wind and solar, can keep the lights on while helping us breathe easier!” said Ms. Carol Wilkins, President of NYCHA Ravenswood Residents Association.
“With Rise Light & Power, NYCHA is truly at the table for discussions about our energy future. Renewable Ravenswood is a plan that uplifts our priorities and promises a brighter tomorrow for our community,” said Ms. Claudia Coger, Community Leader. “We need to get this done.”
“Environmental justice needs to be the top priority for decision-makers in the years ahead. With the possibility of clean solar and wind power, clean heating for our homes, and workforce development, Renewable Ravenswood is the right plan at the right time,” said Mrs. Ann Cotton Morris, President of NYCHA Queens District & NYCHA Woodside Residents Association.
“For decades, our community – including nearly 17,000 NYCHA residents – has been unfairly burdened by fossil fuel power plants,” said Mrs. April Simpson, Community Activist and Leader. “We know that Rise’s vision for a Renewable Ravenswood is possible, and we call on our leaders to do everything in their power to make it happen.”
“Riis Settlement is excited to support Rise Light & Power’s Renewable Ravenswood plan,” said Bob Madison, Associate Executive Director of Jacob A. Riis Neighborhood Settlement. “When implemented, this will be a milestone in new clean energy for our community. The transition from fossil fuels to clean energy will change the landscape of energy, as well as health outcomes, in our Queensbridge community and across New York State.”
ENVIRONMENTAL ADVOCATES
“New York’s ambitious renewable energy mandate calls on all of us to reimagine how we power New York City,” said Anne Reynolds, Executive Director of the Alliance for Clean Energy New York. “A Renewable Ravenswood is the type of future vision we need to grow clean energy in New York, supported by workers with the expertise needed to continue to reliably power our city.”
“Renewable Ravenswood has the potential to bring clean power to millions across New York City,” said Julie Tighe, President of the New York League of Conservation Voters. “We need to leverage every opportunity for green energy to reach New York State's ambitious climate goals. Offshore wind is going to play a major part in decarbonization efforts, and transforming old fossil fuel infrastructure into the renewable infrastructure of the future is an important part of transitioning to renewable energy across the City."
"Ravenswood is setting an exemplary model on how to transition our dirty fossil fuel infrastructure past to a bright clean energy future,” said Adrienne Esposito, Executive Director, Citizens Campaign for the Environment. “This paves the way for a cleaner, healthier planet. Goodbye old, outdated power plants, hello renewable energy. We look forward to this game-changing vision becoming a reality. We applaud the team at Ravenswood for their thoughtful planning efforts and look forward to working with them to implement this critical transition.”
“Justice for the communities that have faced decades of health risks from the Ravenswood fossil fuel plant is long overdue,” said Allison Considine, Campaign Representative for Sierra Club. “It's time we transition the plant to a clean energy hub that will sustain good-paying union jobs and bring New York closer to its clean energy and climate action goals. Investing in modern, clean energy infrastructure is necessary to protect our state from the intensifying damage of climate disasters from burning fossil fuels."
"Offshore wind is the future of New York State and New York City,” said Fred Zalcman, Director of the New York Offshore Wind Alliance. “With projects up and down the Northeast coast, including in the New York Bight, we will have significant clean and renewable energy off our shores. Now we just need to bring it the consumers. Rise’s move to shift Ravenswood from the fossil fuels of the past to a model for repurposing aging fossil fuel infrastructure for the future could be part of the solution. We should give serious consideration to this important work for the state’s energy transition.”
ECONOMIC DEVELOPMENT
"Renewable Ravenswood presents a bold vision with the potential to combat the climate crisis, address environmental injustices, and propel the long-term growth, and prosperity of the region,” said Tom Wright, President of the Regional Plan Association. “RPA is encouraged to see our private-sector partners doing their part for a healthy and sustainable future, and looks forward to engaging in the process to ensure this vision comes to fruition in ways that benefit the city, its communities, and our environment."
“Renewable Ravenswood sets the stage for New York City’s just transition to green energy and a sustainable future,” said Carlo A. Scissura, President & CEO of the New York Building Congress. “The suite of projects proposed by Rise, including a critical link for offshore wind and an innovative thermal energy proposal, will deliver clean energy for generations and while preserving high-quality union jobs.”
“A major part of the future Western Queens waterfront is retiring the existing fleet of peaker plants and replacing them with a combination of offshore wind, energy efficiency, and battery storage,” said Karen Imas, Vice President of Programs, Waterfront Alliance. “Renewable Ravenswood proposes a bold holistic vision that emphasizes workforce and environmental justice. Waterfront Alliance commends this vision and encourages greater exploration of waterfront and maritime access, as well as green infrastructure. We look forward to partnering with Rise Light & Power to realize this important transition to a sustainable and equitable Western Queens waterfront.”
“Carter Burden Network and its Roosevelt Island Older Adult Center applaud Rise Light & Power’s visionary and extensive clean energy and economic development plan for the Ravenswood Generating Station,” said William J. Dionne, Executive Director, Carter Burden Network. “It is refreshing to see energy company leadership that is committed to investing in innovative green solutions that align with climate and energy goals that benefit all in the community. We appreciate their commitment to the communities they serve, which will hopefully be a model for other energy companies to follow.”
“We are excited as we watch up close Rise Light & Power’s plans to transform the New York power grid,” said Stephen Gross, President & Chief Executive Officer of IHI Power Services. “Throughout the years, Rise has demonstrated how their strong commitment and collaborative partnership has supported our local community and our employees. We expect to see even more as Renewable Ravenswood transitions from a fossil fuel plant to one supplying renewable, reliable energy to our community and city.”
About Rise Light & Power
Rise Light & Power is a Queens, New York based energy asset manager and developer. Its core asset, Long Island City’s Ravenswood Generation Station, is New York City’s largest power generating facility, which provides more than 20 percent of New York City's generation capacity. Rise is also pursuing an exciting growth-oriented strategy, including modernization and resiliency upgrades at Ravenswood Generation Station, as well as new large-scale clean energy infrastructure to facilitate the renewable energy transition taking place in New York State and the region. Rise Light & Power is a wholly owned affiliate of LS Power. For more information, please visit www.riselight.com.
About LS Power
LS Power is a development, investment, and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. Additionally, it has developed over 660 miles of high voltage transmission. In New York, LS Power Grid New York supports the state’s energy infrastructure through its upcoming build-out of the nearly 100-mile Marcy to New Scotland transmission upgrade project. LS Power Grid New York was selected by the New York Independent System Operator as the most efficient and cost-effective solution in New York’s largest competitive transmission project to date. LS Power actively invests in businesses focused on renewable energy and fuels, as well as distributed energy resource platforms, such as CPower Energy Management and EVgo. Across its efforts, LS Power has raised in excess of $46 billion in debt and equity financing to support North American infrastructure. For more information, please visit http://www.lspower.com/.
Press
Meaghan Wims
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New transducer offers live sonar ranges up to 500’ in freshwater and up to 350’ in saltwater
OLATHE, Kan.--(BUSINESS WIRE)--Garmin International, Inc., a unit of Garmin Ltd. (NYSE:GRMN), the world’s largest1 and most innovative marine electronics manufacturer, today unveiled LiveScope™ XR , the latest addition to its award-winning live-scanning sonar lineup, now with an extended range for deeper and open waters. With excellent image sharpness at both close and long ranges simultaneously, LiveScope XR delivers real-time images of fish and structure up to 500’ in front of or below the boat—over 200% more range than the leading competitor system.
Explore deeper waters with LiveScope XR in action.
“You’ve never seen real-time images of fish and structure at distances and depths like this,” said Dan Bartel, Garmin vice president of global consumer sales. “LiveScope XR offers significant range performance without sacrificing image clarity and resolution. Having set the standard for live-scanning sonar, we’re thrilled to continue to bring this game-changing technology to deeper waters so even more anglers can experience the LiveScope difference.”
See more with an extended range
With an optimized design for deeper water, the LiveScope XR transducer has extended elements so anglers can see both long- and close-range views in real time. Anglers can see further around and below the boat – up to 500’ in freshwater and 350’ in saltwater – and the Reverse Range feature allows them to utilize more of the screen to display fish and structure. To see detail closer to the boat, the Compress Range feature displays a live look in sharp detail up close, while still allowing the angler to keep an eye on targets further away at the same time.
With seven color palettes to choose from, anglers can see fish and structure in vivid contrast and clarity. Like all LiveScope transducers, LiveScope XR is equipped with additional sensors that allow it to constantly adjust the sonar beams to compensate for boat motion, so even in rough conditions, anglers will still see a steady sonar image, even at an extended range.
Three modes in one system
The LiveScope XR System delivers three unique vantage points with one mount that can be easily adjusted to fit an angler’s fishing techniques and preferences, no tools required. Simply turn the transducer forward for a live look at what’s out in front of the boat; point it down to see directly beneath the boat; or turn it sideways with the included Perspective Mode Mount to enable the ‘top down’ perspective mode that’s perfect for scouting open water or shorelines. Select the LiveScope mode that best fits that fishing spot, and the view will automatically change on a compatible Garmin chartplotter2 screen.
Upgrade to the LiveScope XR advantage
The LiveScope XR System includes a compact GLS™ 10 black box with a LiveScope XR LVS62 transducer, along with a trolling motor barrel and shaft mounting kit, perspective mount bracket and a simple plug-and-play Garmin Marine Network connector for easy installation and integration with a compatible chartplotter. With a free software update, the LVS62 transducer (sold separately) can be added to an existing LiveScope System black box for customers who want to upgrade.
Both the LiveScope XR System and the LiveScope XR LVS62 are available now, with suggested retail prices of $2999.99 and $2499.99, respectively. LiveScope XR is compatible with a wide range of Garmin GPSMAP® and ECHOMAP™ chartplotters and combo units; click here for the full list of compatible devices.
Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most innovative, highest quality, and easiest to use marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the seventh consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Fusion® and Navionics®. For more information, visit Garmin's virtual Newsroom, This email address is being protected from spambots. You need JavaScript enabled to view it., connect with @garminfishhunt on social media, or follow our adventures at garmin.com/blog.
1 Based on 2021 reported sales
2 Compatible with GPSMAP 8400/GPSMAP 8600 chartplotter series, GPSMAP x2 Plus, GPSMAP x3, ECHOMAP Ultra combos and ECHOMAP UHD 7” and 9” units
About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, Navionics and Fusion are registered trademarks and LiveScope, GLS and ECHOMAP are trademarks of Garmin Ltd. or its subsidiaries.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 25, 2021, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Carly Hysell
913-397-8200
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--OPAL Fuels LLC, a vertically integrated producer and distributor of renewable natural gas (RNG), today announced the appointment of Todd Firestone as Vice President of Investor Relations and Corporate Development. Reporting to Ann Anthony, Chief Financial Officer, Todd will work as the company’s primary liaison with the investor and analyst communities, and serve as a key advisor to the leadership team on various growth initiatives. He will also manage communications related to the earnings process and other shareholder-related matters as part of the company’s comprehensive Investor Relations program.
“We’re pleased to have Todd join our team and lead our Investor Relations efforts. He brings a wealth of experience working with investors and analysts and has tremendous knowledge of renewable fuels and energy infrastructure,” said Anthony. “He will help us to establish and grow meaningful relationships with stakeholders as we execute our growth plan and deliver on our mission to replace diesel fuel and help decarbonize the heavy-duty transportation sector.”
Prior to joining the OPAL Fuels team, Todd was a Director at Evercore ISI, where he most recently served as the lead research analyst covering companies in the midstream, renewable fuels, and refining sectors. Prior to that, he held positions with Morgan Stanley and Vantage Energy LLC. He graduated from the University of Michigan with a Bachelor of Arts in History and earned a Master of Business Administration from University of Colorado.
“I’m excited to be a part of the next chapter of the OPAL Fuels story,” said Firestone. “Our platform for the production and distribution of RNG is a powerful tool in the effort to decarbonize our economy. I look forward to working with current and prospective shareholders and the financial community at large to educate on and guide their thinking about our company to help drive strong shareholder returns.”
RNG is an abundant and proven low-cost, low-carbon fuel, chemically identical to the natural gas Americans use to cook and heat their homes, with one critical difference: it's not a fossil fuel pumped from the ground. Instead, RNG is created by capturing and purifying methane emissions from decomposed organic matter created by landfill and animal waste.
About OPAL Fuels LLC
OPAL Fuels LLC, a Fortistar portfolio company, is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (RNG) for the heavy-duty truck market. RNG is a proven low-carbon fuel that is rapidly decarbonizing the transportation industry now while also significantly reducing costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. OPAL Fuels also develops, constructs, and services RNG and hydrogen fueling stations. As a producer and distributor of carbon-reducing fuel for heavy-duty truck fleets for more than a decade, the company delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL Fuels and how it is leading the effort to capture North America’s harmful methane emissions and decarbonize the transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.
OPAL Fuels also previously announced an agreement for a business combination with ArcLight Clean Transition Corp. II (Nasdaq: ACTD) (“ArcLight”), which is expected to result in OPAL Fuels becoming a public company listed on the Nasdaq Stock Exchange. A special meeting of ArcLight shareholders to approve the pending business combination is scheduled to be held on July 15, 2022.
About ArcLight Clean Transition Corp. II
ArcLight, led by Chairman Daniel Revers and President and Chief Executive Officer Jake Erhard, is a special purpose acquisition company formed for the purpose of effecting a capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses focused on opportunities created by the accelerating transition toward sustainable use of energy and natural resources.
Important Information and Where to Find It
ArcLight has filed with the SEC a Registration Statement on Form S-4 (as amended, the “Registration Statement”), in connection with the proposed business combination (the “Business Combination”) involving ArcLight and OPAL Fuels. The Registration Statement was declared effective on June 27, 2022. ArcLight has mailed the definitive proxy statement/prospectus (the “Proxy Statement”) and other relevant documents to shareholders of ArcLight as of a record date, June 1, 2022. ArcLight’s shareholders and other interested persons are advised to read, the preliminary proxy statement/prospectus, and amendments thereto, and the Proxy Statement in connection with ArcLight’s solicitation of proxies for its shareholders’ meeting to be held to approve the Business Combination because the Proxy Statement contains important information about ArcLight, OPAL Fuels and the Business Combination. Shareholders will also be able to obtain copies of the Registration Statement and Proxy Statement, without charge, at the SEC’s website at www.sec.gov. In addition, the documents filed by ArcLight may be obtained free of charge from ArcLight at https://www.arclightclean.com or by directing a request to: ArcLight Clean Transition Corp. II, 200 Clarendon Street, 55th Floor, Boston, MA 02116.
Participants in the Solicitation
ArcLight, OPAL Fuels and their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of ArcLight’s shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of ArcLight’s directors and officers, and OPAL Fuels’ directors and executive officers, in ArcLight’s filings with the SEC, including the Registration Statement.
Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements. Forward-looking statements are statements that are not historical facts and generally relate to future events or ArcLight’s or OPAL Fuels’ future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements, including the identification of a target business and a potential business combination or other such transaction are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by ArcLight and its management, and OPAL Fuels and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Registration Statement and other filings with the Securities and Exchange Commission (SEC), as well as (1) the inability to complete the proposed transaction; (2) factors associated with companies, such as OPAL Fuels, that are engaged in the production and integration of renewable natural gas (RNG), including anticipated trends, growth rates, and challenges in those businesses and in the markets in which they operate; (3) macroeconomic conditions related to the global COVID-19 pandemic; (4) the effects of increased competition; (5) contractual arrangements with, and the cooperation of, landfill and livestock waste site owners and operators, on which OPAL Fuels operates its landfill gas and livestock waste projects that generate electricity and RNG prices for environmental attributes, low carbon fuel standard credits and other incentives; (6) the ability to identify, acquire, develop and operate renewable projects and RNG fueling stations; (7) the failure to realize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (8) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete the proposed transaction; (9) the outcome of any legal proceedings that may be instituted in connection with the proposed transaction; (10) the amount of redemption requests made by ArcLight’s public shareholders; and (11) the ability of the combined company that results from the proposed transaction to issue equity or equity-linked securities or obtain debt financing in connection with the transaction or in the future. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Both ArcLight and OPAL Fuels expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in ArcLight’s or OPAL Fuels’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities or the solicitation of any vote in any jurisdiction pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
OPAL Fuels
Media
Jason Stewart
Senior Director Public Relations and Marketing
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ICR, Inc.
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SAN JOSE, Calif.--(BUSINESS WIRE)--Impossible Mining's (YC W22) Renee Grogan, Chief Sustainability Officer, has this week signed the Seabed Mining Science Statement, which lists six main concerns with seabed mining shared by over 600 marine scientists. “While we maintain our position that the regulatory bodies will, and should, be responsible for the time frame and conditions for mining progressing, we support the notion in the Statement that 'sufficient and robust scientific information must be obtained to make informed decisions as to whether deep-sea mining can be authorized without significant damage to the marine environment and, if so, under what conditions.' However, any 'robust scientific information' must be based on a specific engineered solution."
Impossible Mining has begun collaboration with over a dozen marine scientists, many of whom have signed the Statement, to integrate the six objectives of the Statement into its engineered solution, and has today released the summary report of those discussions.
Dr. Erik Cordes of Temple University, a signatory to the Statement, indicated, “I have stayed out of the seabed mining discussion in the past, because I did not see a responsible path forward - prior to Impossible Mining. I encourage investigation of this innovative opportunity to minimize harm while helping provide the necessary elements for our transition to renewable energy.”
Impossible Mining is planning further collaboration with scientists later this year, and to conduct proof of concept testing in 2023, aiming to demonstrate that its engineered solution can mitigate the six concerns in the Statement. “We are laying down the gauntlet,” says Renee Grogan. “If critical metals for the green economy are to be sourced from the seabed, let’s be guided by the 600+ scientists whose expectations align with those regulators that enforce the principles of ecologically sustainable development.”
Expert deep-sea scientists who are interested in contributing to scientific studies relating to selective harvesting of nodules are encouraged to contact Impossible Mining via https://impossiblemining.com/contact.
PR Contact
MARCO LARSEN
M: 646.812.4444
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As Blockchains and Applications Shift to Energy Efficient Computation Methods Menthol Protocol Will Use Flowcarbon’s Tokens to Offset Remaining Hard to Abate Emissions
NEW YORK--(BUSINESS WIRE)--#carbonmarkets--Flowcarbon, a leading provider of on and off-chain carbon reduction solutions, and Menthol Protocol, the first multi-chain decentralized protocol to automate decarbonization, today announced a partnership that illustrates the ability of blockchain technology to unlock and rapidly multiply positive social impact. Menthol Protocol’s tools, (i.e. middleware), can be integrated into any facet of the web3 tech stack including applications and blockchains to automatically calculate the entity’s carbon footprint and purchase a corresponding amount of qualified tokenized carbon and renewable energy credits. Most web3 entities, including some of the largest blockchains, have transitioned to more energy efficient networks. The Menthol Protocol and Flowcarbon partnership will make it easy for these entities to fully mitigate their carbon impact by offsetting the balance of emissions that cannot be further reduced, also known as hard to abate emissions.
“Our partnership with Menthol Protocol is another piece of the on-chain carbon reduction tech stack and furthers our work to expand access in order to drive funding to carbon projects around the world, and increase overall transparency and adoption,” said Phil Fogel, Chief Blockchain Officer, Flowcarbon. “Menthol Protocol makes it incredibly easy for on and off-chain entities to mitigate their carbon impact - they’ll no longer need to handle complex calculations and solve sourcing issues in order to obtain carbon credits.”
As blockchain technology becomes an increasingly utilized toolkit, digital ledger companies are responding to climate impact concerns resulting from the potential carbon intensity of their operations. New blockchains and applications are using proof of stake instead of proof of work, which has already drastically reduced emissions within the sector, and entities are now looking to offset any residuals. Menthol makes it possible for offsetting to occur at the individual, protocol, or blockchain level.
Menthol’s process involves curating high-impact tokenized carbon and renewable energy credits, calculating on-chain emission and energy consumption, and neutralizing emissions and dirty energy usage in partnership with impactful sustainability projects. The protocol commits that all tokenized offsets or credits that originate from these projects will have verifiable, measurable, and permanent benefits for both the ecosystem and the local community.
“Menthol Protocol is dedicated to maximizing the social impact of web3’s decarbonization efforts by supporting sustainability partners that can transparently demonstrate the largest measurable positive environmental impact, while improving the socioeconomic material conditions of local communities,” said Amir Sultan Malik Awan, CMO and Co-Founder, Menthol Protocol. “Flowcarbon provides the best in class solution for achieving this and will only continue to push the sector towards high quality solutions as they develop and scale carbon projects and different token options that incorporate co-benefits.”
In addition to carbon reductions, Menthol will offer impact tokens having benefits that contribute to the UN Sustainable Development Goals (UNSDG’s). Users are also able to set criteria for the kinds of projects and impact they want their mitigation efforts to support. Hereby, Menthol`s solution ecosystem is also geared towards use-cases beyond the regeneration of web3. In particular, Menthol will also empower off-chain companies and allow them to have an account on Menthol Protocol, putting their climate and Corporate Social Responsibility goals on auto-pilot leveraging web3 technology.
About Flowcarbon
Flowcarbon is a pioneering climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work visit our blog.
About Menthol Protocol
Menthol Protocol`s vision is turning climate crises into climate action by making sustainability affordable, accessible, and integrated into everybody's life. Hereby, Menthol offers an end-to-end solution, allowing any individual or organization to offset their historical carbon-footprint and automate climate-positivity for future carbon footprints with just a few clicks. Learn how to be part of our green-pilled movement on our socials and website.
Nicole Shore
Head of Communications
Flowcarbon
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Company to Ring Closing Bell on July 12, 2022
WALL, N.J.--(BUSINESS WIRE)--Celebrating the 40th anniversary of its listing on the New York Stock Exchange (NYSE), New Jersey Resources (NYSE: NJR) President and CEO Steve Westhoven, together with members of the company’s board of directors, will mark the milestone by ringing The Closing BellSM.
“New Jersey Resources is a premier energy infrastructure company that is leading the way to a decarbonized energy future,” said Steve Westhoven, president and CEO of New Jersey Resources. “To be listed as a publicly traded company on the world’s largest stock exchange for 40 years is an honor and an accomplishment that reflects the talent of our team, the strength of our businesses and the confidence of our shareowners.”
Since it was first listed on the NYSE, NJR has grown considerably. The company’s market capitalization in 1982 was approximately $43 million and the company stock’s closing price on the first day of trading was $1.47, adjusted for splits. Today, it is valued at a market capitalization of $4.2 billion with a closing price of $43.70 as of July 8, 2022.
The value of $1,000 invested 40 years ago, assuming dividends were reinvested, would be over $203,500 as of today, or an average annual return of approximately 14.2%. NJR has paid quarterly dividends since its inception in 1952 and has increased its dividend in each of the last 26 years.
New Jersey Natural Gas (NJNG), NJR’s principal subsidiary, is also celebrating its 70th anniversary this year. With the purchase of Jersey Central Power and Light’s natural gas division by County Gas Company in 1952, NJNG was born. At the time, the company served approximately 90,000 customers. Today, it serves more than 568,000 customers.
A live webcast of The Closing Bell (at 4 p.m. EST) will be available on the NYSE website at www.nyse.com/bell. Videos and photos during and following the ceremony will be shared on NYSE's Facebook pages, LinkedIn, and on Twitter @NYSE.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook/NewJerseyNaturalGas.
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732-938-1031
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DUBLIN--(BUSINESS WIRE)--The "Digital Transformation Market in The Oil and Gas Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
Digital transformation has been one the key trends driving the global Oil & Gas industry since the last decade. This transformation enable the operations to leverage advanced digital technologies such as AI, IoT, Big Data among others to drive efficiencies and thereby open up new opportunities for the same as it might involve digital twins which evidently improves the efficiency of predictive maintenance of the critical assets and thereby restricting the exposure of hazardous task to the workers in the facilities.
With oil and gas upfronting the energy sectors added with an increased focus on improving efficiencies and reducing downtime set as a priority by oil and gas companies has resulted in profits been slashed since the year 2014 majorly due to fluctuating oil prices globally. However, raising concerns over the environmental impact of energy production and consumption persist, companies are actively seeking to innovate their strategies and goals while reducing the environmental feedback
Additionally, the price of oil reduced by 40%, since hitting four-year highs of above USD 76 a barrel in October 2018, in the United States, nurturing concerns for oil and gas firms. Hence, the companies in the oil and gas sector are experimenting with contemporary technologies to increase their efficiency and revenue. By leveraging technologies such as AI in oil and gas operations, corporations can design algorithms to guide drills on landmass and ocean floor.
For instance, UK's first oil and gas National Data Repository (NDR), launched in March 2019, using AI to interpret data, which according to the OGA anticipations will assist to discover new oil and gas forecasts and permit more production from existing infrastructures.
Also, the application predictive analytic algorithm is fueling the automation across the upstream segment of the oil & gas industry majorly attributed to the increasing demand for big data technology in the oil & gas industry to augment E&P capabilities with the growing need for automation in the oil & gas industry there by increasing the investments through joint venture capitals.
Additionally, adoption of monitoring equipment such as IoT will allow companies to further digitize the industry by automating and optimizing the processes and eliminating the risk associated including as safety and regulation issues, remote access by constantly enabling constant monitoring of the equipment.
Key Market Trends
Competitive Landscape
The Global Digital Transformation Market in The Oil and Gas Industry is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives, acquisitions to increase their market share and increase their profitability.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Need to Implement Disruptive Technologies to Optimize Operations & Increase Safety
4.2.2 Regulatory Requirements
4.3 Market Restraints
4.3.1 Volatile Oil Price Situation
4.3.2 Stagnant Industrial Growth in Developed Countries
4.4 Value Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of COVID-19 on the Industry
5 MARKET SEGMENTATION
5.1 Enabling Technologies
5.1.1 Big Data/Analytics and Cloud Computing
5.1.2 Internet of Things (IoT)
5.1.3 Artificial Intelligence
5.1.4 Industrial Control Systems (PLC, SCADA, HMI, DCS etc.)
5.1.5 Extended Reality (AR, VR and MR)
5.1.6 Field Devices (Sensors, Motors, VFD etc.)
5.2 Sensor
5.2.1 Upstream
5.2.2 Midstream
5.2.3 Downstream
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Investment Analysis
6.3 Company Profiles
6.3.1 Schneider Electric SE
6.3.2 Rockwell Automation Inc.
6.3.3 Honeywell International Inc.
6.3.4 ABB Ltd.
6.3.5 Mitsubishi Electric Corporation
6.3.6 Siemens AG
6.3.7 Omron Corporation
6.3.8 Yokogawa Electric Corporation
6.3.9 Fanuc Corporation
6.3.10 WFS Technologies Ltd.
6.3.11 Magseis Fairfield ASA
6.3.12 Rohrback Cosasco Systems, Inc.
6.3.13 IBM Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/kctkiw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B) today announced that it has become a Member of the Ellen MacArthur Foundation’s Network to help accelerate the transition to a circular economy. The Network brings together businesses, innovators, universities, and thought leaders to drive global systemic change.
“We are pleased to join a committed group of like-minded organizations focused on creating a circular economy,” said Julie K. Streich, Senior Vice President, Finance and Chief Financial Officer and Interim Chief Executive Officer of Barnes. “Joining the Ellen MacArthur Foundation’s Network is another important step in our environmental, social, and governance journey, allowing Barnes to work with other forward-thinking leaders to drive innovations that ultimately support our economy, climate, and society.”
Patrick Hurley, Senior Vice President and Chief Technology Officer of Barnes, stated, “the Ellen MacArthur Foundation is a great platform to further our efforts in developing innovative products and technologies to drive a circular economy. It aligns with our internal targets to reduce pollution and waste and will enable Barnes to collaborate with other leading companies with the same vision in joint research and development for social and environmental benefits.”
In 2020, Barnes established environmental targets for 2025 – specific goals for reducing the energy and water we use and the waste we generate against a 2019 baseline – on a normalized basis. As a Company, we will work to reduce the energy we use in our factories – as measured in carbon dioxide equivalents (CO2e) – by 15%, the amount of water we use by 20%, and the amount of industrial process waste we generate from our manufacturing operations by 15%.
Barnes is proud to be a key participant in the Digital Watermarks Initiative HolyGrail 2.0 driven by AIM – European Brands Association, powered by the Alliance to End Plastic Waste. HolyGrail is a collaborative effort designed to solve one of the most significant obstacles facing plastic recycling – inefficient sorting at recycling facilities. Our Molding Solutions strategic business unit has been active in this initiative since HolyGrail 2.0’s inception in 2020, under the leadership of The Procter & Gamble Company and facilitated by the Ellen MacArthur Foundation.
Molding Solutions continues to strengthen its partnerships to develop new manufacturing technologies with a sustainability focus in collaboration with leading consortiums such as The Alliance to End Plastic Waste and The Ellen MacArthur Foundation. It is also actively aligning its processing technology with leading producers of new sustainable plastic materials, such as post-consumer recyclable, bio-based, and even bio-degradable compositions, to produce products made of more sustainable materials that perform as well as or better than products made of current fossil-based polymers. Barnes has strategically partnered with global research centers, universities, product designers, and end-of-life converters to develop injection molding technology that minimizes waste and maximizes user performance, delivering safe and reliable solutions.
About Barnes
Barnes Group Inc. (NYSE: B) pioneers technologies to help change the world. Leveraging world-class manufacturing capabilities and market-leading engineering, we develop advanced processes, automation solutions and applied technologies for industries ranging from medical and personal care to mobility, packaging and aerospace. Customers benefit from our integrated hardware and software capabilities focused on improving the processing, control, service and sustainability of engineered plastics, factory automation technologies and precision components. For more information, please visit www.barnesgroupinc.com.
About Molding Solutions
Molding Solutions is a strategic business unit within Barnes, which includes leading plastic injection molding brands for tooling, hot runners, and controls: Synventive®, Thermoplay®, männer™, FOBOHA®, Priamus®, and Gammaflux®. Molding Solutions’ comprehensive portfolio of advanced technologies and value-added services delivers best-in-class solutions where demanding specifications are required by global customers across a broad spectrum of applications. For more information, please visit our Molding Solutions web page.
About The Ellen MacArthur Foundation
The Ellen MacArthur Foundation is an international charity that develops and promotes the circular economy in order to tackle some of the biggest challenges of our time, such as climate change, biodiversity loss, waste, and pollution. The Foundation works with its Network of private and public sector decision-makers, as well as academia, to build capacity, explore collaborative opportunities, and design and develop circular economy initiatives and solutions. Increasingly based on renewable energy, a circular economy is driven by design to eliminate waste, circulate products and materials, and regenerate nature, to create resilience and prosperity for business, the environment, and society. For more information, please visit https://ellenmacarthurfoundation.org/.
Category: General
Barnes Group Inc.
Morgan Ferrarotti
Director, Corporate Marketing and Communications
860.583.7070
Sevier County Utility District to Deploy Itron’s Smart Gas Metering Solution to Streamline Meter Reading
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#AMI--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, and its channel partner United Systems & Software (USS) announced that they are collaborating with Sevier County Utility District (SCUD) to deploy Itron’s AMI Essentials for Gas, including 15,000 Itron Cellular 500G Gas Modules and Temetra, Itron’s next generation meter data collection and management solution. The solution will allow the utility to increase visibility into their gas distribution system, streamline meter reading and optimize operations across SCUD’s gas district in Tennessee. USS will assist SCUD in deploying the gas modules across SCUD’s territory over the next two years.
Featuring extended data storage, the Cellular 500G captures interval data to support improvements in safety, customer service and operations. To store and analyze the gas meter data, SCUD is taking advantage of Temetra. With Temetra, the utility can gain better visibility into its distribution network and easily manage and collect data from the gas meters. The utility can optimize its operations by having all data across its gas distribution network securely and easily accessed through the cloud.
“At SCUD our mission is to provide an economical and reliable source of natural gas to our customers in a manner that is safe. With Itron’s AMI Essentials for Gas, which uses smart gas modules to work with Temetra, we can achieve both operational efficiency and improved safety by monitoring daily gas consumption across our distribution network,” said Matt Ballard, president of SCUD. “With reliability at the forefront of our mission, not only does Itron’s solution capture 24 hours of data collected daily but Temetra’s read validation ensures meter reads are recorded accurately.”
“We look forward to supporting SCUD’s goals to safely and reliably deliver gas services to its 15,000-customer gas district in east Tennessee. Itron’s gas communication modules offer the highest in reliability, accuracy, battery life and security standards,” said John Marcolini, senior vice president of Networked Solutions at Itron. “Itron’s turnkey AMI Essentials for Gas solution enables utilities to digitize their gas delivery operations and create new data-driven insights to improve customer satisfaction. The deployment will allow SCUD to modernize its gas distribution system and improve customer service as well as support future growth and expansion of the utility’s gas district.”
“Operating in 18 states, USS has served the utility industry with Itron solutions for over 20 years. As an Itron Engage Expert Channel Partner, we are excited to build upon our partnership with Itron and pleased that this deployment will provide SCUD with greater operational efficiencies, helping the community and the utility reach its natural gas delivery goals,” said Brian Boyd, vice president of Sales at USS.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
About United Systems & Software
United Systems offers innovative technology to help utilities optimize and sustain the delivery of water and energy— Advanced Metering Infrastructure (AMI), Software, Water Loss Management. United Systems complements these advanced solutions by offering Project Management services. Each deployment is different, so we follow a unique path in helping define project scope, setting project schedules and maintaining project budget adherence — while following proven project management principles.
Find out more: https://www.united-systems.com
For additional information, contact:
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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