DALLAS--(BUSINESS WIRE)--Amen Properties, Inc. (Pink Sheets: AMEN) today announced financial results for its quarter ended March 31, 2022. The Company posted revenue of $927 thousand and net income of $725 thousand. These results compare to revenue of $422 thousand and net income of $154 thousand for the same quarter in 2021. The Company’s improvement in revenue and profitability resulted primarily from increased demand and prices for oil.
Amen also announced that the Company’s Board of Directors has approved the payment of a quarterly dividend of $10.00 per share. The dividend will be paid to shareholders of record on June 30 with a payment date of July 7.
Finally, Amen reiterated that its Board has approved a plan whereby the Company will no longer hedge the revenue stream associated with its oil and gas royalties. “Shareholders of Amen need to understand that they hold an un-hedged long oil and gas position and should pursue their own hedging strategy if they are uncomfortable with that risk,” said Kris Oliver, Amen’s Chief Financial Officer.
The Company’s 2022 first quarter report is available for viewing or download from the company’s web site – www.amenproperties.com.
About Amen Properties:
Amen Properties owns a portfolio of cash-producing properties including real estate and oil and gas interests.
Cautionary Statement:
This document contains forward-looking statements, which involve a number of risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward-looking statements. Forward-looking statements can be identified by use of the words "expect," "project," "may," "might," potential," and similar terms. AMEN Properties, Inc. ("Amen", "we" or the "Company") cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Amen's control. These factors include, but are not limited to, our ability to implement our strategic initiatives, economic, political and market conditions and price fluctuations, government and industry regulation, U.S. and global competition and other factors. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Press and Investor Relations Contact:
Kris Oliver
(972) 999-0494
PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power LLC (“NuScale”) announced today that the company will make a strategic shift from product development to product delivery by establishing the new VOYGR™ Services and Delivery (VSD) business unit. Comprised of services, supply chain, and client management functions, this new organization will be dedicated to working with customers and tasked with the delivery of services and equipment associated with the sale, development, delivery, and commercial operation of NuScale VOYGR™ power plants.
After receiving the first ever small modular reactor design (SMR) approval from the U.S. Nuclear Regulatory Commission (NRC) in August 2020, NuScale has been focused on completion of its deployment readiness program, including finalization of the standard plant design and supply chain readiness like extensive manufacturing trials. In May 2022, NuScale became the first publicly traded company focused on the design and deployment of SMR technology; this growth, in combination with this announced strategic shift, will bolster and accelerate the commercialization of NuScale’s SMR technology.
Additionally, the customer-centric restructuring is a critical step to prepare the organization to scale and meet the rapidly growing global demand for NuScale’s premier clean energy solution. For NuScale’s current customer, Utah Associated Municipal Power Systems’ Carbon Free Power Project, current project activities include the placement of long-lead equipment orders. Other landmark customer engagements in Poland and Romania underscore the need for a proactive restructuring to ensure the efficient and effective delivery of NuScale’s contractual obligations for customer projects.
“Positioning NuScale towards product delivery is a natural and exciting next step for the company,” said NuScale President and Chief Executive Officer John Hopkins. “We are dedicated to changing the power that changes the world. Working closely with our customers to deploy our groundbreaking SMR technology that is setting a new standard for clean, reliable, and safe power is a critical part of that mission.”
The organization will be led by Thomas Mundy, who will transition from his role as NuScale’s Chief Commercial Officer (CCO) to President, VOYGR™ Services and Delivery, reporting to Hopkins, and will have full Profit and Loss (P&L) accountability for the new business unit. Mundy has served as NuScale’s CCO since 2017, and in this role, he oversaw critical commercial global business activities, including marketing, communications, business development and sales, and services functions for the United States and abroad.
“As more utilities, institutions, and countries see NuScale’s VOYGR™ plants as the premier energy solution to address the challenge of mitigating climate change while protecting global prosperity, NuScale is ready to meet the moment,” said Thomas Mundy, President, VOYGR™ Services and Delivery. “That is why now is the pivotal time for NuScale to undergo this tactical expansion to prepare our organization to scale and ultimately to improve the energy futures for all.”
In February 2022, the company expanded its leadership team to include Clayton Scott, who joined NuScale as Executive Vice President of Business Development in support of NuScale’s transition to a product and service delivery organization and was reporting to Mundy. Scott will continue to lead the sales and marketing and communications teams, and report directly to Hopkins.
About NuScale Power
NuScale Power Corporation (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.
Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.
Forward Looking Statements
This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, is requesting that shareholders vote on the proposals contained within its Proxy filing prior to the Annual Meeting of Stockholders.
The Annual Meeting of Stockholders was originally scheduled for June 14, 2022, but was adjourned until June 30, 2022 to allow stockholders additional time to vote. Romeo Power is encouraging participation from all investors, big and small, in the voting process. Each shareholder’s participation helps the Company avoid costly additional adjournments and solicitations. Participation also ensures that your voice is heard on critical matters.
“We remain steadfast in our commitment to driving continuous growth for Romeo Power and its shareholders. This includes initiatives such as the relocation to our new Cypress facility to add more efficient manufacturing capacity and laboratory space, as well as the increased opportunity for expansion into new markets where our vehicle electrification capabilities are highly valued. Each of these initiatives have the ability to both grow and create value for Romeo Power and its shareholders. As we continue progressing our Company alongside the electrification of the broader market, we require your support on Proposal 6 to support both our future initiatives and current operations,” stated Susan Brennan, chief executive officer.
The items of which stockholders are being asked to vote on can be found in Romeo’s Proxy filing, available online under the SEC Filings section of the Company’s website at https://investors.romeopower.com/financials/sec-filings/default.aspx as well as in the Securities and Exchange Commission’s (SEC) EDGAR website at www.SEC.gov under the ticker symbol RMO. A majority of the votes received have been cast in favor of all proposals. However, while the approval rate for Proposal 6 was approximately 84% at the original Annual Meeting of Shareholders, there was not a sufficient quantity of individual votes cast necessary to approve Proposal 6, despite the significantly high approval rate. Romeo Power would like to emphasize the importance of Proposal 6 for the Company to continue to access necessary capital to fund its ongoing operations and pursue the key objectives to grow our business and drive value for shareholders.
In order for your vote to be represented, the Company must receive your voting instructions. For your convenience, please use any of the following methods to submit your vote:
If possible, please use either of the first two options to ensure your vote is captured in time for the meeting. Even if it is past the indicated deadline, the Company asks you to please submit your vote.
If you have any questions, please call Okapi Partners, Romeo Power’s proxy solicitor, toll-free at 1-877-274-8654. Representatives are available Monday - Friday 9:00 am to 9:00 pm (ET) and Saturday, 10:00 am to 5:00 pm (ET). The Romeo Power team would like to thank shareholders for their time, participation, and continued support.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, please follow the Company on social media @romeopowerinc or visit www.romeopower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Source: Romeo Power Inc.
For Investors:
Joe Caminiti or Ashley Gruenberg
Alpha IR Group
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312-445-2870
HOUSTON--(BUSINESS WIRE)--ExxonMobil today announced a unique process technology to enable the manufacture of sustainable aviation fuel (SAF) from renewable methanol.
“SAF produced from renewable methanol can play an important role in helping the aviation industry achieve the transition to a net-zero future. Reaching that goal by 2050 will require a multi-faceted approach, including advancements in aircraft-related technology, changes to infrastructure and operations, and a dramatic increase in SAF supply. Our process technology can be an important step in this direction,” said Russ Green, ExxonMobil’s lower-emission fuels venture executive.
Proprietary Methanol to Jet Technology
ExxonMobil has a long history of developing advantaged proprietary process technologies and catalysts to make energy products that society needs. ExxonMobil is leveraging its core capabilities to develop a solution that converts methanol to SAF.
Methanol derived from the gasification of biomass and waste, as well as from lower-carbon hydrogen and captured carbon dioxide (CO₂), can be converted into SAF using ExxonMobil’s methanol to jet proprietary process technology and catalysts. Preliminary estimates by ExxonMobil suggest that this solution has a higher yield of jet fuel than other options. The ExxonMobil solution also provides the flexibility to use a mix of alcohols as feedstock and produce renewable diesel and lower-carbon chemical feedstocks.
“Methanol to jet technology is scalable and suitable for the conversion of methanol produced from today's world-scale plants. The work necessary to qualify the resulting renewable jet fuel pathway has already started,” said James Ritchie, president of ExxonMobil Catalysts and Licensing LLC.
Technology to Convert Other Biofeeds to SAF
Additionally, ExxonMobil has process technology and catalysts that are available to customers today which convert other renewable biofeeds, such as used cooking oils, animal fats, and vegetable oil, into renewable jet fuel. Our analysis shows that our BIDW™ isomerization catalyst provides a jet fuel yield advantage versus alternatives currently available.
Decarbonization and Hydrogen Solutions
ExxonMobil is evaluating opportunities to deploy these process technology solutions within a portfolio of options to help the aviation industry to decarbonize.
“ExxonMobil is advancing integrated solutions to extend our Carbon Capture & Storage (CCS) and Hydrogen capabilities to support the decarbonization objectives of our biofuels customers and partners,” said Siva Ariyapadi, bioenergy global business manager.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
Follow us on Twitter and LinkedIn.
Cautionary Statement:
This material includes forward looking statements. Actual future conditions and results could differ materially from the projections provided herein, including as a result of changes in development plans; the ability to scale new technologies on a cost effective basis; changes in law or government policy; unforeseen technical difficulties or developments; and other factors. Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
Media Line (972) 940-6007
TORONTO--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (“Li-Cycle” or the “Company”) (NYSE: LICY), announced today that it will host investor meetings during a non-deal roadshow with Citi on Tuesday, June 21, 2022, and at the BMO 2022 Chemicals & Packaging Summit on Wednesday, June 22, 2022.
An investor presentation related to these meetings will be made available on the Investor Relations section of the Company’s website at https://investors.li-cycle.com.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
Investor Relations
Nahla A. Azmy
Sheldon D’souza
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Press
Kunal Phalpher
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ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it will issue financial results for the Company's fourth quarter and full fiscal year ended April 30, 2022, after the market closes on Tuesday, June 28, 2022. Management will host a conference call and live audio webcast to discuss the results at 4:30 p.m. Eastern Time that day.
Hosting the call to review results for the fiscal third quarter will be Wahid Nawabi, chairman, president and chief executive officer, Kevin P. McDonnell, senior vice president and chief financial officer, and Jonah Teeter-Balin, senior director corporate development and investor relations.
Conference Call Event Summary
Date: June 28, 2022
Time: 4:30 PM ET (1:30 PM PT, 2:30 PM MT, 3:30 PM CT)
Toll-free: (877) 561-2749
International: (678) 809-1029
Conference ID: 1238926
Investors with Internet access may listen to the live audio webcast via the Investor Relations section of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software.
Audio Replay
An audio replay of the event will be archived on the Investor Relations section of the Company's website at http://investor.avinc.com.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
Jonah Teeter-Balin
+1 (805) 520-8350 x4278
https://investor.avinc.com/contact-us
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) will issue its second quarter 2022 earnings release after the close of the New York Stock Exchange on Wednesday, July 27, 2022. The Company will also host its second quarter 2022 earnings conference call on Thursday, July 28, 2022, at 1 p.m. London time (8 a.m. New York time).
The event will be webcast live and can be accessed through the TechnipFMC website (investors.technipfmc.com) or at https://edge.media-server.com/mmc/p/yytvtob9.
An archived version will be available on the website following the webcast.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC utilizes its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
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James Davis
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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DUBLIN--(BUSINESS WIRE)--The "Global Solid Oxide Fuel Cell (SOFC) Market - Analysis By Type, Application, End-User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2028)" report has been added to ResearchAndMarkets.com's offering.
The research report has analysed and segmented the SOFC Market by Value (USD Million). The report has also further analysed the SOFC Market By Type (Planar, Tabular), By Application (Portable, Transport, Stationary), By End User (Residential, Data canters, Military & Defence, Transportation, Communication & Industrial), By Region (Americas, Europe, Asia-Pacific, Middle East & Africa), By Country (United States, Canada, Brazil, Mexico, United Kingdom, Germany, France, China, Japan, South Korea) for the historical period of 2015-2021 and the forecast period of 2022-2028.
Company Profiles
More affordable electricity, more resilient power, and cleaner energy are three things demanded by businesses and communities in a post-climate-change environment where the concerns of growing carbon emissions, extreme weather events, and a fragile system are more serious than ever. Consequently, industry sectors across countries such as China, Germany, Japan and the United States are increasingly installing the SOFC units to address the growing cognizance pertaining to controlling the GHG emissions and utilizing the state-of-the-art technology offered by different SOFC companies.
The rising demand for clean energy over concerns of the environmental impact of energy generation from conventional sources such as coal and natural gas is expected to help grow the planar solid oxide fuel cell market across the globe.
Data canters need continuous and reliable power. A comprehensive backup power plan that includes fuel cells and other power sources is capable of providing the 99.99% availability needed by the data centers. This has encouraged companies to consider Solid oxide fuel cells at data canters. Also, Stationary fuel cells have found application in various sectors for primary as well as back-up power generation, and are generally based on combined heat and power (CHP) technology for both, heated water and air. That's why the demand of stationary SOFC is growing at a fast pace.
Scope of the Report:
Key Topics Covered:
1. Report Scope and Methodology
2. Strategic Recommendations
3. Global SOFC Market: Product Overview
4. Global SOFC Market: An Analysis
4.1 Market Size, By Value, Year 2015-2028
4.2 Global SOFC Market: Growth & Forecast
4.3 Impact of COVID-19 on SOFC Market
5. Global SOFC Market By Type
6. Global SOFC Market By Application
7. Global SOFC Market By End User
8. Global SOFC Market: Regional Analysis
9. Americas SOFC Market: An Analysis (2015-2028)
10. Europe SOFC Market: An Analysis (2015-2028)
11. Asia Pacific SOFC Market: An Analysis (2015-2028)
12. Middle East and Africa SOFC Market Analysis
13. Global SOFC Market Dynamics
13.1 Global SOFC Market Drivers
13.2 Global SOFC Market Restraints
13.3 Global SOFC Market Trends
14. Market Attractiveness
15. Competitive Landscape
15.1 Market Share of Leading Global Companies
15.2 Porter Five Force Analysis- Global SOFC Market
16. Global SOFC Market: Recent Developments, Merger & Acquisitions
17. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ufj76d
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ALPHARETTA, Ga.--(BUSINESS WIRE)--Anue Water Technologies is announcing that Tencarva Municipal, Southern Sales, is the new and exclusive channel partner for the sales and installation of all Anue Water products throughout the Commonwealth of Virginia and the State of Arkansas. Tencarva has been successfully distributing Anue products for over ten years throughout the States of Tennessee, North and South Carolina, Ohio and the Commonwealth of Kentucky.
Anue manufacturers eco-friendly Oxygen/Ozone and other cost-effective equipment for municipal and industrial wastewater treatment, odor, corrosion and FOG (fats, oil, grease) control applied in municipal forcemains, lift stations, wet-wells and wastewater tanks. Anue products include FORSe® Oxygen/Ozone injection systems with remote digital telemetry; the more compact Phantom® Oxygen/Ozone injection system (also with remote digital telemetry); Enviroprep® well-washers for FOG control; and the highly customizable Anue Geomembrane Covers with embedded carbon-filters for odor elimination from practically any sized or shaped wastewater tank or manhole cover.
According to Greg Bock, Anue Water VP General Manager, “We are happy and proud to have Tencarva taking on more territory as our exclusive channel partner. They are tried, tested and proven wastewater treatment experts and have recently staffed up to introduce municipalities and industrial customers in Virginia and Arkansas to Anue’s eco-friendly systems that replace costly chemicals with labor-saving and eco-friendly Anue Oxygen/Ozone injection and other cleantech solutions to collection system issues of odor, corrosion and FOG (fats, oils, grease). Anue has recently added several new channel partners, such as Environmental Improvements (EI2) for Texas and Oklahoma; Koester Associates for New York State and Northern New Jersey, Kershner Environmental for Pennsylvania and Southern New Jersey; Russell Resources throughout the six New England States, J.H. Wright throughout the Gulf States, Florida Panhandle and Georgia; Northwestern Power Equipment for the Upper Midwestern States; and Faco Waterworks for Indiana. With the expansion of Tencarva Southern Sales into Virginia and Arkansas, Anue is able to demonstrate and install our clean and cost-saving equipment solutions to well over 90% of the municipalities in the USA and Canada.”
Tencarva VP Bill Allen declared, “We look forward to introducing Virginia and Arkansas wastewater treatment customers to Anue’s eco-friendly equipment, which replaces costly and labor-intensive chemicals. More and more municipalities in this region want clean-tech solutions that minimize labor and inputs into the environment.”
About Anue Water Technologies: Founded in 2005, Anue Water Technologies Inc. is headquartered in Alpharetta GA. The company manufactures and supplies eco-friendly, high efficiency, patented systems for the municipal and industrial wastewater markets, including oxygen/ozone injection, well-washers and carbon-embedded geomembrane covers for odor, corrosion and FOG (fats, oil, grease) control. For more information, contact Anue Water Technologies, Inc. at This email address is being protected from spambots. You need JavaScript enabled to view it.or (760) 727-2683 or visit our web site at www.anuewater.com.
About Tencarva: Since 1978 , Tencarva has been the industrial equipment distributor for the premier pump and wastewater treatment product lines throughout the Southeast United States. We are a sales and service company driven by a desire to solve process and equipment problems and build a better future for our employees, customers and the United States of America by professionally applying and providing the best pumps and equipment in the industry.
Anue Water Technologies, Inc.
Jon Amdursky
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Service providers to offer solar smarter home solutions to consumers and the solar industry
TYSONS, Va.--(BUSINESS WIRE)--Solar is one of the fastest-growing sectors of the U.S. energy industry, with an average annual growth rate of 42 percent over the past decade. In response to increased demand, Alarm.com is offering an integrated solar monitoring solution for service providers with a new Solar Automation & Awareness service package and Solar Program Certification Course.
Alarm.com’s solar monitoring offering allows customers with SolarEdge and Enphase inverters (which combined account for more than 90 percent of all solar inverters in the U.S.) to monitor home solar panel energy production and consumption. With the Solar Monitoring add-on, Alarm.com subscribers can track energy data for the day, week, past month, and past 12 months. All within the Alarm.com mobile app, they can monitor the property’s solar data alongside security and other energy-saving devices and features, to lower power bills, and reduce environmental footprint. As part of a comprehensive smart energy management solution, solar monitoring gives subscribers the information and insights to reduce overall energy consumption and manage a broad ecosystem of automation devices to compensate when solar production is low, such as raising the thermostat setpoint or turning off lights.
“Alarm.com offers solar monitoring as part of an all-in-one solution in response to the customer’s desire for sustainable energy solutions with their home automation and security system,” said Shawn Barry, Vice President of Strategic Sales at Alarm.com. “The Alarm.com Solar Monitoring integration enables homeowners with SolarEdge or Enphase inverters to monitor home solar panel energy production and consumption in the Alarm.com mobile app, empowering them to make smarter decisions about home energy use.”
Alarm.com’s service provider partners recognize the growing opportunity that solar energy solutions can have on their business but many haven’t been sure where to start. The Alarm.com Solar Program can help service providers by integrating third-party solar market leaders into the proposal, licensing, and installation process. The Alarm.com Solar Program offers two new solar service plans that are available to either prospective or current Alarm.com customers.
The Solar Program officially launches this month. Alarm.com solutions have limited international availability. For more information, please visit alarm.com.
About Alarm.com
Alarm.com is the leading platform for the intelligently connected property. Millions of consumers and businesses depend on Alarm.com's technology to manage and control their property from anywhere. Our platform integrates with a growing variety of Internet of Things (IoT) devices through our apps and interfaces. Our security, video, access control, intelligent automation, energy management, and wellness solutions are available through our network of thousands of professional service providers in North America and around the globe. Alarm.com's common stock is traded on Nasdaq under the ticker symbol ALRM. For more information, please visit alarm.com.
Julie Rollend
Alarm.com Public Relations
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DUBLIN--(BUSINESS WIRE)--The "Database of Petroleum and Petroleum Products Wholesalers in Europe" database has been added to ResearchAndMarkets.com's offering.
The Database of Petroleum and Petroleum Products Wholesalers in Europe is an Excel spreadsheet containing a list of the largest 7000 Petroleum and Petroleum Products Wholesalers in Europe.
Each of the company lists displays the leading companies ranked by revenue in $USm.
Each Excel file contains the following:
The database will help:
For more information about this database visit https://www.researchandmarkets.com/r/54b73w
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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DUBLIN--(BUSINESS WIRE)--The "Global Fatty Acid Methyl Esters Market by Source, Product Type, Application, and Region - Size, Share, Outlook, and Opportunity Analysis, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
This report provides an in-depth analysis of the global fatty acid methyl esters market, and provides market size (US$ Million & Kilotons) and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering 2021 as the base year.
FAME (fatty acid methyl ester) is a form of fatty acid ester produced by transesterifying fats with methanol. The primary molecules in biodiesel are FAME, which are obtained by transesterification from vegetable oils. When base chemicals like sodium methoxide, potassium hydroxide, or sodium hydroxide are present, an alkali-catalyzed reaction between methanol and lipids produces FAME, which is employed in the manufacturing of biodiesel and detergents.
The most widely accessible biodiesel type in the marine industry is FAME-based biofuel, which is typically blended with regular marine diesel. FAME's application in the food industry as a thickening & emulsifying agent is expected to drive the market growth during the forecast period.
Growing demand for fatty acid methyl ester from various end-use industries is expected to benefit the global fatty acid methyl esters market. Fatty acid methyl ester is the most preferred alternative to conventional mineral-based products for applications in lubricants, paints & coatings, food & agriculture, detergent & surfactants, metal working, emulsifiers, and others.
This is owing to its superior properties such as high lubricity, excellent solubility inorganic solvents, high boiling points, non-toxicity, and biodegradability. Additionally, growing demand for fatty acid methyl ester in agrochemicals such as pesticide and fertilizer preparation is anticipated to further drive the fatty acid methyl ester market growth. Thus, the aforementioned properties and applications are expected to be key factors driving the global fatty acid methyl ester market growth over the forecast period.
However, the market's growth is expected to be restrained by high manufacturing costs due to unpredictable prices of raw materials and the global outbreak of coronavirus. Fatty acid esters required high processing cost. As a result, emerging nations such as Asia Pacific and the Middle East and Africa are still not able to employ high-cost technologies, which could limit the market for fatty acid esters.
Key features of the study:
Detailed Segmentation
Global Fatty Acid Methyl Esters Market, By Source:
Global Fatty Acid Methyl Esters Market, By Product Type:
Global Fatty Acid Methyl Esters Market, By Application:
Global Fatty Acid Methyl Esters Market, By Region:
Company Profiles
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DUBLIN--(BUSINESS WIRE)--A first-of-a-kind green hydrogen generation plant - on the border of Counties Mayo and Sligo, Ireland - has been announced by Mercury Renewables. To advance the project Mercury is drawing upon the hydrogen and renewable energy expertise of global engineering, consulting and construction leader Black & Veatch.
Mercury is developing one of Ireland’s first co-located onshore wind farm and hydrogen electrolysis plants. A 75-megawatt wind farm will power an electrolyser plant generating green hydrogen. Black & Veatch’s initial role in the project has been the feasibility studies that inform all aspects of the hydrogen development.
“The abundance of renewable energy potential in Ireland means green hydrogen should play a significant role in regional and national cross-sector decarbonisation. Projects like Firlough put Mercury at the vanguard of delivering Ireland’s hydrogen economy,” said Tim Bills-Everett of Mercury. “Our business model is to combine local knowledge with international best practice in renewable energy development. For Firlough we also need proven hydrogen expertise. With a deep track record in both, Black & Veatch is our partner of choice.”
Black & Veatch’s early involvement has been to help Mercury understand which combination of electrolyser technology and size, as well as hydrogen storage and transport options – and water supply alternatives – best meets its business goals for the project. This is being achieved through the development of multiple scenario studies and conceptual site layouts.
“Hydrogen project developers and investors need confidence in the quality of the advice they receive. The most complete analysis will come from partners with expertise in hydrogen, renewable energy generation, and the complex interfaces between them that define projects like Firlough,” said Youssef Merjaneh, Black & Veatch’s Senior Vice President, Managing Director, Europe, Middle East & Africa.
Once the optimal configuration is identified, Black & Veatch will develop an outline design for the facility that is sympathetic to the local surroundings; and support engagement with the local community, as well as work to ensure the plant’s safe operation.
Mercury Renewables has been developing renewable energy projects in Ireland since 2009. At Firlough, as with other projects, the company will endeavor to provide localised economic growth; using, where possible, local people, equipment and services.
To support decarbonisation initiatives, and the use of hydrogen as a part of decarbonisation strategies, Black & Veatch in 2021 joined the Hydrogen Council and was appointed advisor to the U.S. Department of Commerce’s Renewable Energy and Energy Efficiency Advisory Committee. The company’s most recent hydrogen successes include selection by Mitsubishi Power Americas and Magnum Development, co-developers of what will be the world’s largest industrial green hydrogen production and storage facility, to provide engineering, procurement and construction (EPC) services for that Advanced Clean Energy Storage project in Delta, Utah
About Mercury Renewables
Mercury Renewables has been developing renewable energy projects in the West of Ireland since 2009 with offices in Mayo, Ireland and U.K. The principals of Mercury have been involved in renewable energy developments Scotland, Chile, Egypt and Ireland, bringing together international best practice with deep local connections to the West of Ireland. Through the Firlough development, Mercury is looking to establish a local hydrogen economy that will directly benefit residents of Counties Mayo and Sligo as well as fostering further investment in the West of Ireland region.
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
Media Contact Information, Mercury Renewables:
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-- Investment focused on Permian Basin Opportunities --
HOUSTON & FORT WORTH, Texas--(BUSINESS WIRE)--EnCap Investments L.P.(“EnCap”) and the team behind the Double Eagle family of companies (“Double Eagle”) announced today that they have entered into a strategic partnership to form Double Eagle Energy Holdings IV, LLC (“Double Eagle IV”) and Tumbleweed Royalty IV, LLC (“Tumbleweed IV”). The new entities have also received minority investments from Apollo Natural Resource funds (“Apollo”), Magnetar Capital (“Magnetar”), and other strategic institutional partners. Headquartered in Fort Worth, Texas, Double Eagle IV will primarily focus on investing in oil and gas properties in the Permian Basin, and Tumbleweed IV will focus on royalty and mineral investments across the Permian Basin. Double Eagle IV was formed by the same management team that successfully led its predecessor companies, with John Sellers and Cody Campbell continuing to serve as Co-Chief Executive Officers. Double Eagle has been one of the largest independent acquirers of oil and gas leasehold interests across Texas, the Rockies, and the Mid-Continent.
Formation of this new company follows the recent successful sale of Double Eagle III Midco 2 LLC (“Double Eagle III”), wholly owned by DoublePoint Energy, LLC (“DoublePoint”) to Pioneer Natural Resources Company (NYSE: PXD) for approximately $6.4 billion. Double Eagle IV will pursue a similar strategy that led to the success of the predecessor companies, but on a considerably larger scale and with a more substantial upfront commitment from funds managed by EnCap, along with Apollo, Magnetar, and the Double Eagle management team.
Cody Campbell and John Sellers, Co-Chief Executive Officers of Double Eagle, commented, “We are excited about this new partnership with EnCap and are thrilled to do business with a group of people who have been longtime personal friends. Pairing EnCap with our longtime investors, Apollo and Magnetar, along with several large strategic institutions and our own personal capital, provides us with a unique strategic advantage. Together with the financial strength of our partnership, our track record of success, and our world-class operating team, we can confidently and aggressively pursue very large acquisitions while continuing to organically assemble smaller opportunities and undertake an ambitious development program.”
Gary Petersen, Founder of EnCap Investments, said, “I have known Cody and John for many years and our team at EnCap has long admired their approach to business.” Kyle Kafka, Partner of EnCap Investments, added, “The Double Eagle team brings unique relationships and a proven track record of success in the industry. We are excited to partner with John, Cody and the entire management team and look forward to building a substantial business together.”
Advisors
EnCap engaged Vinson & Elkins LLP and Double Eagle engaged Akin Gump Strauss Hauer & Field LLP as their respective legal advisors.
About Double Eagle
Double Eagle is a Fort Worth, Texas-based energy company focused on acquiring and developing oil and gas assets throughout North America.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 22 institutional funds totalling approximately $38 billion and currently manages capital on behalf of more than 350 U.S. and international investors. For more information, please visit www.encapinvestments.com.
For Double Eagle:
Jordan Huelse
Vice President – Finance
817-928-3260
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Partner – Investor Relations
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DOHA, Qatar--(BUSINESS WIRE)--#AmericanAirlines--Cirium, the aviation analytics company, has developed an advanced methodology to provide a standard and accurate picture of CO2 emissions and fuel burn calculations per flight and aircraft seat.
Jeremy Bowen, CEO at Cirium said: “The level of precision and accuracy of Cirium’s CO2 emissions calculations far exceeds estimates generally available today.”
American Airlines and Virgin Atlantic Airways each have independently commended Cirium for the superior approach and accuracy of Cirium’s fuel burn estimations through their own extensive analysis.
Holly Boyd-Boland, Vice President, Corporate Development at Virgin Atlantic said: “Virgin Atlantic operates one of the youngest and most fuel-efficient fleets across the Atlantic. Accurate measuring, monitoring, and forecasting of CO2 emissions is critical as we target and monitor progress to Net Zero 2050, allowing us to better understand our environmental impact. Importantly, it also provides a tool to empower our customers to track and choose airlines with the lowest carbon footprint. Cirium is leading the way in this field, building data and forecasting capabilities that are the most accurate we have seen to date, as verified against our own historical fuel burn and emissions data.”
Jill Blickstein, Head of ESG, at American Airlines said: “To reduce our emissions and reach Net Zero by 2050, we’re taking action to run a more fuel-efficient operation with more fuel-efficient aircraft powered increasingly by low-carbon fuel. And we’re holding ourselves accountable by becoming the first airline in the world with a 2035 target validated by the Science Based Targets initiative. Reducing aviation’s emissions will require partnership among the airlines, our suppliers and our customers – and it’s important to build those partnerships on sound emissions data and calculations. Cirium brings deep aviation expertise to the table on this important topic, and the approach they’ve taken considers numerous variables of an aircraft and its operations.”
Cirium has fused numerous data elements including but not limited to, aircraft and engine specifications, airline schedules, and actual flight operations to create a holistic view of the actual emissions footprint. This enables Cirium clients to view the emissions by operator, aircraft type or geographical region and on a historical, or predictive basis, solving a variety of use cases.
“Our mission is to establish the standard for accurate fuel burn and carbon emissions data to empower the aviation industry to deliver on its sustainability targets. For the industry to achieve their goals of halving CO2 emissions by 2050 compared with 2005, a clear methodology is needed,” said Bowen. “We are thrilled to have our model corroborated by leading carriers around the globe.”
The emissions data can also be merged with passenger booking information to provide corporations with their carbon footprint. This enables corporations to gain more insight into their emissions and uncover where opportunities exist to reduce their emissions, and help travelers understand their own carbon footprint associated with the flights they choose.
Cirium’s unrivaled emissions data is being used by leading corporate travel departments, including organizations such as Zurich Insurance, a global insurance firm. Zurich is using Cirium’s calculations to measure their corporate travel emissions, explore opportunities to reduce emissions, and empower their employees to make better travel decisions.
Kara Brayton, Assistant Vice President, Head of Corporate Travel Management at Zurich said: “It’s been exciting to collaborate with Cirium under a proof-of-concept, utilizing data to help provide Zurich with insight to better inform our employees around the carbon impact of their decisions when booking airfare.”
“With travel being such a large category of emissions, these types of relationships are key to leading sustainable business travel programs of the future. I am thankful for Cirium’s willingness to engage and explore a personalized solution with us.”
Cirium’s CO2 emissions calculations are being made available through existing products in Cirium’s portfolio and in new products, to meet the evolving market needs.
Ends
About Cirium
Cirium brings together powerful data and analytics to keep the world moving. Delivering insight, built from decades of experience in the sector, enabling travel companies, aircraft manufacturers, airports, airlines and financial institutions, among others, to make logical and informed decisions which shape the future of travel, growing revenues and enhancing customer experiences. Cirium is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. The shares of RELX PLC are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.
For further information please follow Cirium updates on LinkedIn or Twitter or visit www.cirium.com
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Based in Saudi Arabia, CNTXT aims to bring new cloud and industrial software solutions to the digital transformation space.
RIYADH, Saudi Arabia--(BUSINESS WIRE)--Aramco and Cognite, a global leader in industrial software, have launched CNTXT, a joint venture based in the Kingdom of Saudi Arabia. Headquartered in Riyadh, CNTXT will support industrial digitalization in the Kingdom and the wider MENA region.
CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software. These solutions and services will help companies in the public and private sectors future-proof their data infrastructure, increase revenue, cut costs, and reduce risks while enhancing operational sustainability and security. CNTXT is Google Cloud’s reseller for cloud solutions in the Kingdom and the exclusive reseller of Cognite Data Fusion® in the MENA region. Additionally, Google Cloud is expected to launch a “Center of Excellence” later this year to provide training to developers and business leaders on how to use cloud technologies.
Led by Abdullah Jarwan, appointed CEO of CNTXT, and a management team of local and international talent, CNTXT plans to significantly grow the team this year in hopes of becoming the top tech employer in the Kingdom.
The launch of CNTXT is a major milestone in the collaboration between Aramco and Aker ASA, the majority owner of Cognite. The partnership began in 2019 with the signing of a Memorandum of Understanding (MoU) to develop synergies and share knowledge on industrial digitalization and sustainability initiatives.
Ahmad A. Al-Sa'adi, senior vice president of Technical Services at Aramco, said: “CNTXT brings together industrial legacy, unmatched technology, and a truly talented team that will aid in the digitalization of the public and private sectors in the Kingdom. CNTXT will be an important catalyst of digitalization of the Kingdom.”
Øyvind Eriksen, president of Aker ASA and chair of the Cognite Board of Directors, said: “CNTXT will be an important vehicle for driving profitability and sustainability of the Kingdom’s industries through innovative use of technology. I look forward to seeing the company accelerate the digital transformation of the most important sectors in the region.”
Abdullah Jarwan, CEO of CNTXT, said: “The untapped potential in the digital transformation of the Kingdom of Saudi Arabia and the greater Middle East is enormous. With Google Cloud and Cognite offerings in our portfolio, we can help the public and private sectors innovate faster, scale AI-driven solutions, and turn data into value.”
Abdul Rahman Al Thehaiban, managing director, Middle East, Turkey, and Africa, Google Cloud, said: “Businesses all around the world turn to Google Cloud to enable growth and help them solve their most business-critical challenges. With CNTXT as Google Cloud’s reseller in the Kingdom, we will be leveraging the latest technologies and decades of expertise to help businesses grow and develop safely and securely.”
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
About CNTXT
Founded in 2022 and based in Saudi Arabia, CNTXT is a joint venture between Aramco and Cognite that delivers premium cloud and digital transformation products and services in the Middle East and North Africa. CNTXT’s digital offerings, including Google Cloud and Cognite Data Fusion, enable customers to achieve greater efficiency, sustainability, and profitability throughout their digital transformation journeys.
About Cognite
Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability.
Michelle Holford
Global PR Lead, Cognite
+47 482 90 454 (NO)
+1 (512) 744-3420 (US)
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DUBLIN--(BUSINESS WIRE)--The "Refinery Condensate Splitter Units Market Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The global refinery condensate splitter units capacity increased from 3,447 thousand barrels per day (mbd) in 2016 to 4,185 mbd in 2021 at an Average Annual Growth Rate (AAGR) of 3.9%.
It is expected to increase from 4,185 mbd in 2021 to 5,248 mbd in 2026 at an AAGR of 4.5%. United Arab Emirates, South Korea, Iran, the US, and Qatar are the major countries that accounted for 58.6% of the total Global condensate splitter units capacity in 2021.
Scope
Reasons to Buy
For more information about this report visit https://www.researchandmarkets.com/r/qf3c5u
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Agreement initiates collaboration for planned pilot installations of PI Energy’s pioneering solar photovoltaic technology on residential, commercial and industrial buildings
SAN DIEGO--(BUSINESS WIRE)--Today, buildings account for almost 40 percent of global energy-related CO2 and will play a major role in a sustainable transformation, according to the US Green Building Council. To offset that, commercial building owners and managers are expected to invest $960 billion globally between now and 2023 on greening their existing built infrastructure.
Helping to lead this crucial step toward sustainable energy use in the industry is Acento Real Estate Partners, which has partnered with PI Energy for pilot installations of next-generation photovoltaic (PV) cell technology on its buildings across the US. Acento joined PI Energy’s Pilot Deployment Program, providing the company access to PI Energy’s revolutionary module PV technology, which is designed to be wrapped onto roofs, walls and other surfaces, so that sunlight can power a large portion of electricity needs, while decreasing energy purchases and lowering operating costs.
Solar photovoltaic installations on buildings usually only cover a small fraction of some roofs. High costs and physical limitations associated with conventional PV technology restricts how much solar energy can be generated onsite on buildings. PI Energy is changing that with its flexible and low-cost PV technology.
PI Energy’s Pilot Deployment Program is the first phase of the company’s commercialization of its PV cell technology, which is based on its proprietary nanofilm solar cell innovation, using ultrathin silicon, enables practical and low-cost installation of solar modules that are designed to be lightweight, flexible, nontoxic, and easy to install on most surfaces.
“Acento’s participation in PI Energy’s Pilot Deployment Program is aligned with our low-carbon infrastructure and social impact goals, so that we can have onsite electrical power from otherwise unused surfaces, from our buildings, parking areas and surrounding walls,” said Andrés González, CEO of Acento. “Enhancing our real estate portfolio’s energy resilience and sustainability is even more attractive with a cost-competitive approach to solar energy.”
Rooted in a twenty-year history of supporting the workforce populations of the United States and over US $1 billion of AUM, Acento specializes in increasing their access to high-quality and affordable rental workforce housing, expanding their opportunities for equity and inclusion, and empowering their lives through community development and the integration of essential human wellness factors. PI Energy’s new technology aligns well with Acento’s strategy to offer investments that deliver not only high returns for investors but greater benefits to the society and the environment.
“We are excited to partner with Acento, which is leading the shift to more sustainable buildings,” said Phil Layton, CEO of PI Energy. “A large-scale transition to sustainability requires both a low-carbon energy and cost-competitive path. Acento is creative and innovative in its approach to improving buildings’ performance while reducing their carbon footprint, which makes the company an ideal partner.”
David Andresen, PI Energy
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Hydrogen Becoming Viable Alternative to Battery Electric Vehicles
BASINGSTOKE, England--(BUSINESS WIRE)--#hydrogencar--A new study from Juniper Research has found the number of hydrogen vehicles in service globally will exceed 1 million in 2027, from just over 60,000 in 2022 – a substantial growth of over 1,500%.
Reduced Customer Anxiety
The research identified hydrogen vehicles as an increasingly viable alternative to BEVs (Battery Electric Vehicles). The potential for enhanced range and rapid refuelling compares favourably with BEVs; reducing customer anxieties around BEV ownership. These positives have led to significant investment by car manufacturers, including Hyundai, Toyota and BMW, and this will translate into an increasingly popular and available product over the next 5 years.
Download the Free Whitepaper: Why Hydrogen Vehicles are Ready for the Mainstream
Consumer Versus Commercial Hydrogen Vehicles
The research forecasts that the consumer market will lead the hydrogen vehicles space, with consumer vehicles accounting for over 60% of hydrogen vehicles in service globally in 2027. The report identified the nascent development stage of many commercial vehicle types and the high average cost of hydrogen‑powered commercial vehicles, at over $70,000 globally in 2022, as key factors limiting adoption.
Research co-author Olivia Williams explained: “Manufacturers will need to make hydrogen vehicles more affordable to become viable for fleets, but increased range and suitability for heavy goods transport will ultimately drive growth and economies of scale.”
Infrastructure Concerns Still Prominent
Additionally, the report identified the low availability of fuelling infrastructure as a key challenge for wider adoption, but highlighted heavy industry investment as key to reducing this concern over the next 5 years. The report recommends that infrastructure vendors provide ‘green’ hydrogen, produced using renewable energy sources, to best take advantage of concerns around the environment driving the adoption of alternative fuels.
Hydrogen Vehicles market research: https://www.juniperresearch.com/researchstore/key-vertical-markets/hydrogen-vehicles
Download the whitepaper: https://www.juniperresearch.com/whitepapers/why-hydrogen-vehicles-are-ready-for-the-mainstream
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.
Sam Smith, Press Relations
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.045000 per unit, payable on July 15, 2022 to unitholders of record on June 30, 2022. The net profits interest calculation represents reported oil production for the month of March 2022 and reported natural gas production during February 2022. The calculation includes accrued costs incurred in April 2022.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
40,102 |
|
1,294 |
|
380,958 |
|
13,606 |
|
$ |
98.77 |
|
$ |
4.84 |
Prior Month |
|
40,553 |
|
1,448 |
|
331,076 |
|
10,680 |
|
$ |
86.55 |
|
$ |
5.00 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $4.0 million for the current month on realized wellhead prices of $98.77/Bbl, up $0.5 million from the prior month’s oil cash receipts.
Recorded natural gas cash receipts from the Underlying Properties totaled $1.8 million for the current month on realized wellhead prices of $4.84/Mcf, up $0.1 million from the prior month.
Total accrued operating expenses for the period were $2.3 million, a decrease of $0.5 million from the prior period. Capital expenditures increased $0.7 million from the prior period to $1.0 million primarily due to the drilling of four new, non-operated drilling projects by a private operator in the North Louisiana area.
Given the increase in rig count and operator activity on the Underlying Properties, COERT Holdings 1 LLC (the “Sponsor”), is withholding $0.35 million from the current month’s net profits to be added to the cash reserve for approved, future development expenses this year. To date, the Sponsor has established a total reserve of approximately $1.5 million for approved development expenses this year. This reserve is intended to fund an expected increase in development expenses; however, if those expenses are ultimately delayed or are less than expected, or if the outlook changes, amounts reserved but unspent will be released as an incremental cash distribution in a future period.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2021 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 25, 2022. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
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