LAS VEGAS--(BUSINESS WIRE)--$MP--MP Materials Corp. (NYSE: MP) today announced that Ryan Corbett, Chief Financial Officer, will participate in the J.P. Morgan 2022 Energy, Power & Renewables Conference on Thursday, June 23, 2022, at 9:40 a.m. Eastern Time.
A live webcast and replay will be available at https://investors.mpmaterials.com/.
About MP Materials
MP Materials Corp. (NYSE: MP) is the largest producer of rare earth materials in the Western Hemisphere. The Company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility (“Mountain Pass”), America’s only active and scaled rare earth mining and processing site. MP Materials produced approximately 15% of the rare earth content consumed in the global market in 2021. Separated rare earth elements are critical inputs for the magnets that enable the mobility of electric vehicles, drones, defense systems, wind turbines, robotics and many other high-growth, advanced technologies. MP Materials’ integrated operations at Mountain Pass combine low production costs with high environmental standards, thereby restoring American leadership to a critical industry with a strong commitment to sustainability. More information is available at https://mpmaterials.com/.
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DUBLIN--(BUSINESS WIRE)--The "Global Unmanned Underwater Vehicle Market Outlook: Global Opportunity and Demand Analysis, Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Unmanned underwater vehicles are anticipated to make inroads in the global underwater vehicle industry at a value CAGR of 14.91% over 2020-2028. It is anticipated to reach approximately USD 7.64 billion, which was around USD 2.92 billion in 2019.
Expanding utilization of unmanned underwater vehicles for sea security and observation in maritime powers, expanding military, financial plan in creating nations, expanding request for UUVs in the oil and gas division for doing reviews at extraordinary profundities and the developing utilization of unmanned underwater vehicles for mapping the seafloor and examining oceanography are some of the factors expected to drive the development of the worldwide unmanned underwater vehicle showcase sooner rather than later.
Robust Demand for deep-water offshore oil & gas production
Interest in oil and gas has developed as of late, expanding by 31% since 2000. This interest, principally determined by the creating scene, is sufficient conjecture to proceed as oil is an essential vitality for significant ventures, for example, transportation, and can't be effectively subbed by elective vitality sources.
Be that as it may, with the gracefully of oil and gas from regular assets declining, the center has moved to deep water off-shore oil and gas production, which, thus, made a significant interest for ROVs for penetrating help, knowledge, and fix and support exercises in the subsea market.
Besides, developing utilization of unmanned underwater vehicles for mapping the sea depths and contemplating oceanography are factors expected to drive the development of the global unmanned underwater vehicle showcase soon.
Autonomous Underwater Vehicle (AUV) to Make Crucial Contribution to Growth of Global Unmanned Underwater Vehicle Market
The development of the market can be ascribed to the rising number of profound water seaward oil and gas creation exercises and expanding oceanic security dangers. For AUVs, the development is predominantly attributed to the expanding use of AUVs in guard tasks and profound water study. The Autonomous Underwater Vehicle Market is expected to grow from USD 916 million to USD 2,698.9 million at a CAGR of 24.13% from 2019 to 2028. Teledyne Technologies Inc.'s product AUV is performing monitoring or surveillance tasks.
Other segments by the application are Defense, Commercial Exploration, Miscellaneous and Scientific Research. By type are Autonomous Underwater Vehicles (AUV) and Remotely Operated Underwater Vehicles (ROV). By payload are Lighting Systems, Cameras, Sensors, Synthetic Aperture Sonar, Video Screens, and Inertial Navigation Systems (INS).
Rising Investments in Unmanned Underwater Vehicles and Research to Benefit the North American Market
The North American region is anticipated to grow by a high percentage compared with other regions. As they are adopting advanced technology, their spending on the military is increasing. They are doing offshore drilling activities, which are also a factor in the growth of their region. The market in the Middle East and Africa is relied upon to enlist worthwhile development as far as income, sooner rather than later, from developing oil and gas investigation exercises in this district.
Players to Focus on in the Expanding Applications in Global Unmanned Underwater Vehicle
The global unmanned underwater vehicle market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Teledyne Technologies Inc. and Lockheed Martin Corporation, among others, could be at the forefront of the competition in the global unmanned underwater vehicle market.
Teledyne Technologies, Inc.: Teledyne Gavia gives turnkey overview answers for military, business, and logical applications. The Gavia AUV conveys a variety of sensors and custom payload modules, making it ideal for observing or surveillance assignments where self-sufficiency, cost, and simplicity of arrangement matter. Its particular plan considers fast sensor reconfiguration and battery substitution.
Lockheed Martin Corporation: Lockheed Martin is progressing subsea assessments for the oil and gas industry by utilizing Marlin to give quicker, more secure, affordable, and increasingly productive reviews compared with utilizing jumpers and fastened remotely worked vehicles. Furnished with sensors and vigorous independence, Marlin conducts auxiliary reviews, pipeline investigations, base trash overviews, and subsea office assessments.
The 10-foot-long submarine is profoundly flexible and ready to work in restricted spaces, run up to four bunches, and voyage for as long as 18 hours. Marlin can perform up to multiple times faster assessments, conveying higher loyalty data in hours versus days.
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract by TotalEnergies EP Angola to supply subsea production systems for the CLOV3 development in Block 17, offshore Angola.
It is the first contract under the companies’ new framework agreement covering subsea trees for brownfield developments in Block 17 in Angola. The CLOV3 contract includes Subsea 2.0™ trees and associated controls, umbilical termination assemblies, jumpers and services.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are proud to continue working with our valued partner TotalEnergies EP Angola, with the support of our large installed base. Our framework agreement and the CLOV3 contract are the result of several years of collaboration to standardize subsea production equipment and optimize subsea developments.”
Subsea 2.0™ products use standardized components that are pre-engineered and qualified, which allows equipment to be rapidly configured according to each project’s specific requirements. This optimizes the engineering, supply chain, and manufacturing processes, thus reducing the time to first oil and/or gas.
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
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 uses 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.
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HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NASDAQ: BKR) will hold a webcast on Wednesday, July 20, 2022 to discuss the results for the second quarter ending June 30, 2022. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).
To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.
About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
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HOUSTON--(BUSINESS WIRE)--Expro Group Holdings N.V. (NYSE: XPRO) has announced that the Company’s Board of Directors has authorized a stock repurchase program, under which the Company may repurchase up to an aggregate of $50 million of its outstanding common stock until November 24, 2023 (the “Stock Repurchase Program”) in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. Under the Stock Repurchase Program, the Company may repurchase shares of the Company’s common stock in open market purchases, in privately negotiated transactions or otherwise. The Stock Repurchase Program will be utilized at management’s discretion and in accordance with federal securities laws. The timing and actual numbers of shares repurchased, if any, will depend on a variety of factors including price, corporate requirements, the constraints specified in the Stock Repurchase Program along with general business and market conditions. The Stock Repurchase Program does not obligate the Company to repurchase any particular amount of common stock, and it could be modified, suspended or discontinued at any time.
“We view the repurchase of our shares as an attractive and prudent use of our capital that is in the best interests of our shareholders. With a debt-free balance sheet, ample available liquidity, strong signals of a multi-year energy services recovery, and an expectation that the Company will be cash generative, the Stock Repurchase Program approved by Expro’s Board of Directors allows us to opportunistically increase shareholder value, while maintaining sufficient cash resources to fund our business needs,” said Michael Jardon, Expro’s Chief Executive Officer.
This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell any shares of Expro’s stock.
About Expro:
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.
With roots dating to 1938, Expro has approximately 7,200 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
Cautionary Statement Regarding Forward-Looking Statements:
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s business outlook, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," “may,” “could,” "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond the Company’s control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s most recent Annual Report on Form 10-K as well as other risks and uncertainties set forth from time to time in the reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise, except as required by applicable law.
Karen David-Green – Chief Communications, Stakeholder & Sustainability Officer
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Electrification holding grows lithium-ion battery cell manufacturer’s portfolio, builds on supply agreement announced in 1Q 2022 and joint development agreement announced in 2021.
PHOENIX--(BUSINESS WIRE)--KORE Power, Inc. (KORE), a leading U.S.-based manufacturer of lithium-ion battery cells, acquired a 4.22 percent stake in ZEVx, an innovative start-up dedicated to eliminating barriers to electric vehicle adoption with affordable EV conversion kits and a focus on fleet electrification. Earlier this year, KORE announced a supply agreement with ZEVx to provide KORE battery modules for ZEVx’s electric powertrain kits through 2030.
“KORE Power produces the battery cells that provide the backbone of electrification, and ZEVx is accelerating vehicle electrification with products that allow for rapid, affordable conversion of fleet vehicles,” said Lindsay Gorrill, CEO and Co-Founder of KORE Power. “Our joint product development and investment will help ZEVx realize the promise of these innovations at a time when moving to electric vehicles makes so much sense economically and environmentally.”
Based in Gilbert, AZ – just an hour east of KORE Power’s planned KOREPlex gigafactory – ZEVx manufactures electric powertrain solutions that allow fleet customers to convert existing light-medium duty fleet vehicles to EVs. Formerly known as Zero Electric Vehicles, Inc., the company is also partnering with KORE Power to develop new advances in vehicle battery efficiency and safety.
“We’re proud to be two American companies putting American IP to work here in Arizona to reduce greenhouse gas emissions, increase energy independence, and eliminate barriers to EV adoption,” said Carolyn Maury, the CEO of ZEVx. “With KORE Power officially on our team, we can accelerate the deployment of our products to deliver these benefits to our customers.
“When fleets are electrified, the benefits – from reduced pollution to lower maintenance and fuel costs – reverberate in communities across the nation,” she said.
The investment expands KORE Power’s presence in the e-mobility space. In March, the company launched its KORE Solutions division after acquiring Northern Reliability, a Vermont-based energy storage solution provider. Later this year, KORE Power will break ground on the KOREPlex, a 2 million-square-foot manufacturing facility, which will produce up to 12 GWh of lithium-ion battery cells annually. The KOREPlex will allow the company to produce a domestic battery supply for e-mobility manufacturers and energy storage projects starting in 2024.
ABOUT KORE Power
KORE Power, Inc., is a leading U.S.-based developer of battery cell technology for the clean energy industry, serving e-mobility, energy storage, utility, and commercial and industrial markets across the globe. KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs, and ESS modules, optimized by our proprietary battery management system. Through its global partnerships, KORE designs and manufactures top-tier energy storage systems (ESS).
KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology, and product availability. We care about building sustainable communities, clean energy jobs and green economic expansion. KORE Power is proud to offer a functional solution to real-world problems that fulfills growing market demand and contributes to a zero-carbon future. For more information, visit www.korepower.com.
About ZEVx
ZEVx (formerly Zero Electric Vehicles) is a leader in rapid development and distribution of electrification solutions for commercial fleets. ZEVx’s proprietary powertrain kit (batteries and drive motor) configuration and software enabled vehicle management system delivers rapid conversion turnaround of existing fleet vehicles. ZEVx’s partner network provides customers the support infrastructure, bundled with fleet management services, and EV knowledge they need to transform fleets to quickly meet sustainability goals. ZEVx’s primary mission is to enable EV participation across the existing automotive and mobility ecosystem and support fleets through their electrification journey while scaling globally using ZEVx’s partner ecosystem and open software architecture to make the ‘dream’ of EV accessible to all. For more information, visit www.zevx.com.
Cautionary Statement
Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives, and expectations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. Forward-looking statements included in this news release are made as of the date of this news release and KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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Helps establish a dedicated “terminal-use only” chassis program
HOUSTON--(BUSINESS WIRE)--The U.S. Department of Agriculture (USDA) announced today its partnership with Port Houston to help establish a dedicated chassis pool system for “terminal use only” at Port Houston terminals.
Beginning earlier this year, Port Houston teamed with Frozen Protein Shipping Alliance to implement measures to address supply chain impacts. The program announced today helps do just that to improve service for shippers of U.S.-grown agricultural commodities and others.
According to the USDA, foreign sales of U.S. poultry and beef through the Port of Houston totaled a half-billion dollars in 2021. Still, limited availability of equipment can impact the export of these refrigerated cargos.
“This new program will help better match chassis supply with storage demand,” said Port Houston Executive Director Roger Guenther.
As expansion efforts continue at Port Houston, reefer racks (stacked refrigerated containers) are included in construction plans to provide even more refrigerated cargo capacity at the Barbours Cut and Bayport container terminals. These Port Houston public terminals handle nearly 70% of containerized cargo through the Gulf and is the sixth busiest container operation in the nation.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at PortHouston.com.
Lisa Ashley-Daniels, Director, Media Relations, Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
As Kaptyn’s exclusive EV charging development provider, TeraWatt will establish charging hubs to support Kaptyn’s expanding electric fleet operations in Nevada, California and Florida
SAN FRANCISCO--(BUSINESS WIRE)--TeraWatt Infrastructure, a company providing best in class charging services for fleets in the U.S., today announced a strategic partnership with Kaptyn, a premier EV mobility company, to develop electric vehicle (EV) charging hubs in Las Vegas, Southern California, and South Florida and other North American markets to enable the company’s expanded fleet operations.
Rideshare drivers travel about three times as many miles per day on average than private car owners, yet less than one percent of rideshare miles are driven in an electric vehicle. With a nation-wide fleet of electric vehicles driven by employees instead of contractors, Kaptyn is a sustainable mobility company focused on acquiring and electrifying the most well managed fleets in the US to accelerate the shift to a zero-carbon transportation economy.
“The soon-to-be trillion-dollar market for ridesharing can be a major driver of reducing vehicle emissions and creating a cleaner, more equitable transport system for all,” said TeraWatt CEO Neha Palmer. “We’re proud to support Kaptyn’s mission to create the next-generation sustainable mobility company and to put forth an economical and sustainable model for other ridesharing companies looking to electrify.”
Combining real estate, and EV charging expertise, TeraWatt’s purpose-built platform is uniquely suited to help all fleets overcome the challenges associated with sourcing well located, reliable EV charging solutions for fleets. Developing charging hubs in and around urban areas in a manner that takes into account common routes, usage trends and additional on-site amenities requires significant expertise in securing grid interconnection, controlling energy costs and ensuring reliable charging operations. TeraWatt will own, develop, finance, and operate EV charging assets to help the company manage demand charges and reduce peak load, while ensuring reliable and resilient energy delivery for fleet operations. TeraWatt and Kaptyn will collaborate, bringing their relative strengths in real estate, charging operations, and EV fleet management to accelerate the adoption of EVs in fleets.
“This partnership with TeraWatt is critical to the future of our business and will enable us to quickly scale our electric fleet operations to markets with high demand,” said Kaptyn CEO Andrew Meyers. “TeraWatt's collective energy and transportation project development expertise is unparalleled, making the company the ideal choice to be our long term exclusive charging partner.”
TeraWatt intends to develop and own over 15 MW of initial charging capacity at sites across Kaptyn’s first three geographies and expand capacity over time to meet Kaptyn’s growth, as well as to support the co-location of other fleets.
About Terawatt Infrastructure
TeraWatt Infrastructure provides reliable charging solutions for the future of fleet transportation. The company designs, operates and owns electric vehicle charging hubs for fleet operations combining property assets with energy and charging expertise. Terawatt was founded, in the absence of anything like it, to be the nation’s reliable, long-term partner in the inevitable transition to all-electric transportation. For more information: www.terawattinfrastructure.com
About Kaptyn
Kaptyn is a sustainable mobility platform dedicated to changing mobility for good. The company operates one of the largest EV fleets in the U.S. with employee drivers and is developing and deploying an integrated eMobility platform designed to optimize electrification for large fleets. Kaptyn operates experiences in Las Vegas, South Florida and Southern CA, with more markets coming online soon. Learn more about us at www.kaptyn.com.
TeraWatt
Annika Harper, Director at Antenna Group
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Long-term capital structures provide the flexibility to invest across the major themes of energy transition and energy security
More than half of the strategy will be allocated to Europe initially, becoming globally diversified in the coming decades
BERLIN--(BUSINESS WIRE)--BlackRock today announced it will establish a perpetual infrastructure strategy that will seek to partner with leading infrastructure businesses over the long term to help drive the global energy transition. Building on the broad capabilities of BlackRock’s longstanding infrastructure platform, it will seek to make lasting investments in core assets and aim to create resilient, inflation-linked returns for investors, while creating growth in the real economy. Over half of the strategy will be allocated to Europe initially, becoming increasingly global over the decades to come.
The shift toward a green economy is creating a step change across all infrastructure sectors today, opening attractive investment opportunities in several areas. This strategy will pursue investments in the megatrends of energy transition and energy security, as well as digital and community infrastructure, sustainable mobility, and the circular economy. It will seek to deploy capital into fully integrated businesses such as utilities and end-to-end renewable energy infrastructure players, as well as assets such as data centers, grid digitization technologies, battery storage systems, and natural gas storage and transport facilities, where adaptable to incorporate hydrogen. Through its investments in these businesses, BlackRock will take an active approach in helping companies transition to lower-carbon business models over time.
“We believe the intersection of infrastructure and sustainability will be one of the biggest opportunities in alternative investments in the coming years. At the same time, recent events have sharpened the focus on energy security and further compounded the need for infrastructure investment,” said Edwin Conway, Global Head of BlackRock Alternative Investors. “Private markets will continue to play a pivotal role in the energy transition, and we are pleased to offer our clients another way to go beyond simply navigating the transition to driving it forward.”
An estimated $125 trillion of investment is needed globally by 2050 to reach net zero1, including over $4 trillion per year compared to $1 trillion per year currently. 2 In addition to financing the transition over the long term, a new driving force has become the near-term issue of energy security, particularly in Europe, a result of the energy shocks caused by the war in Ukraine. According to the BlackRock Investment Institute, the switch away from Russian energy will accelerate the net-zero transition in Europe over the long term but make it more divergent globally.3
“BlackRock is a leader in the energy transition, having mobilized over $55 billion of investments across our infrastructure strategies since their inception,” said Anne Valentine Andrews, Global Head of BlackRock Real Assets. “Our ability to convene companies, governments and institutional clients means we are uniquely placed to deploy capital from investors globally into real assets that drive the energy transition and have a positive impact on local communities and economies.”
BlackRock Alternative Investors has a broad range of private market capabilities designed to help drive the energy transition. As an early mover in the energy transition, BlackRock’s first investment in renewable power on behalf of its clients was a wind project in Europe in 2012. Since then, BlackRock’s $75 billion Real Assets business has continued to evolve its strategies with the broadening market opportunity through its diversified infrastructure and climate infrastructure businesses. BlackRock today manages one of the largest climate infrastructure franchises globally, investing in renewables across developed markets. BlackRock recently partnered with the Governments of France, Germany, and Japan, together with a number of institutional investors and leading foundations, to raise the Climate Finance Partnership, a flagship blended finance vehicle focused on investing in climate infrastructure across emerging markets. Most recently, BlackRock established Decarbonization Partners, a partnership with Temasek focused on late-stage venture capital and early growth private equity investing in decarbonization solutions.
Additionally, BlackRock has recently partnered with companies and invested in projects that help to drive the energy transition. These include, among others: a joint venture with KX Power, the UK-based developer and operator of battery energy storage systems; an investment in Kellas Midstream, an energy infrastructure company that is developing a major blue hydrogen project in the UK; the signing of a memorandum of understanding with Aramco to explore joint opportunities in future energy transition projects related to low carbon energy infrastructure; an investment in Calisen, a leading owner and installer of smart meters in the UK; and an investment in IONITY, one of Europe’s leading high-power charging networks, which will enable the company to increase the number of high-power charging points by more than four times by 2025.
BlackRock intends to launch underlying open-ended investment vehicles and will be seeking founding partners in the second half of 2022. The open-ended structures will provide the ability to continuously raise and invest capital over the life of the strategy.
About BlackRock Alternative Investors
BlackRock Alternative Investors serves investors seeking outperformance in real estate, infrastructure, private equity, credit, hedge funds and alternative solutions. We strive to bring our investors the highest quality investments by drawing upon our global footprint, superior execution capabilities and position as a preferred partner. BlackRock manages $330 billion in alternative investments and commitments on behalf of clients worldwide as of March 31, 2022.
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Risk Warnings
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.
Important Information
This material is for distribution to Professional Clients (as defined by the Financial Conduct Authority or MiFID Rules) only and should not be relied upon by any other persons.
This is issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel: + 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.
Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to their accuracy.
This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer.
1 “Financing Roadmaps,” Glasgow Financial Alliance for Net Zero, November 2021, https://www.gfanzero.com/netzerofinancing/
2 “Net Zero by 2050,” International Energy Agency, May 2021, https://www.iea.org/reports/net-zero-by-2050
3 “Taking Stock of the Energy Shock,” BlackRock Investment Institute, March 2022
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Mike Hicks joins Canes as Chief Operating Officer; Dan Westcott as Chief Financial Officer
DALLAS--(BUSINESS WIRE)--Canes Midstream LLC (“Canes”), a Dallas-based midstream company, announced today that it has added energy industry veterans Mike Hicks as Chief Operating Officer, and Dan Westcott as Chief Financial Officer. Hicks and Westcott join Scott Brown, Chief Executive Officer, to round out the Canes executive leadership team.
“We are excited about the future of Canes as we’ve added Mike and Dan to our team and continue to grow in a fast-paced, customer-centric environment,” said Scott Brown, Canes Midstream Chief Executive Officer. “Both Dan and Mike have a long and proven history of success in the energy industry. They not only bring valuable experience and expertise in their disciplines, they embody the values, work ethic, and outside-the-box thinking skills that we hold dear at Canes.”
Mike Hicks, Chief Operating Officer
Hicks brings nearly 35 years of natural gas gathering and processing experience to Canes. Most recently, Hicks served as President of Superior Pipeline Company, where he was responsible for the performance of natural gas gathering and processing facilities in Texas, Oklahoma, Kansas, Pennsylvania and West Virginia. Prior to Superior Pipeline Company, Mike held various positions at Aka Energy Group including Executive Vice President of Operations, and President of Frontier Field Services and Lumen Midstream Services, which were all part of the Southern Ute Growth Fund. Hicks has also served as the Director of Operations for Frontier Energy, a private equity-based midstream company, prior to its acquisition by Aka. Hicks earned a Bachelor of Science degree in Chemical Engineering from the University of Tulsa.
Dan Westcott, Chief Financial Officer
Westcott brings nearly 20 years of energy experience to Canes, including eight years of executive experience at Legacy Reserves, a Midland, Texas-headquartered producer, where he first served as Executive Vice President and Chief Financial Officer, then President, and finally as Chief Executive Officer. While managing Legacy as a publicly traded master limited partnership, Westcott helped raise more than $2 billion of capital to fund Legacy’s strategic acquisitions and organic growth through debt, preferred and common equity, as well as DrillCo capital. Prior to Legacy, Westcott worked at GSO Capital Partners within The Blackstone Group for six years, investing in a broad range of debt and equity capital across the wide-ranging energy space in both the public and private markets. Westcott holds a Bachelor of Arts degree and Master of Science degree from Stanford University where he was an All-American swimmer.
Canes operates strategic midstream assets located in the Southern Midland Basin, including 520 million cubic feet per day of processing capacity, more than 800 miles of pipelines, 42 compressor stations, a crude oil gathering system, and substantial acreage dedications from a diverse group of Midland Basin-focused producers.
About Canes Midstream LLC
Headquartered in Dallas and founded in 2019, Canes Midstream LLC is a midstream oil and gas company that offers a full suite of midstream services to our customers. Financially partnered with EIV Capital and Denham Capital, the Canes management team has been focused on gas gathering and processing, crude oil gathering and operating production the majority of their careers. For more information, visit www.canesmidstream.com.
Canes Midstream LLC
Meredith Hargrove Howard
Redbird Communications Group
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210-737-4478
DUBLIN--(BUSINESS WIRE)--The "Combined Cycle Gas Turbine Market Research Report by Design Type (Aeroderivative and Heavy Duty), End-User, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Combined Cycle Gas Turbine Market size was estimated at USD 28.90 billion in 2021, USD 30.23 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.78% to reach USD 38.26 billion by 2027.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Combined Cycle Gas Turbine Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Combined Cycle Gas Turbine Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Combined Cycle Gas Turbine Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Combined Cycle Gas Turbine Market?
4. What is the competitive strategic window for opportunities in the Global Combined Cycle Gas Turbine Market?
5. What are the technology trends and regulatory frameworks in the Global Combined Cycle Gas Turbine Market?
6. What is the market share of the leading vendors in the Global Combined Cycle Gas Turbine Market?
7. What modes and strategic moves are considered suitable for entering the Global Combined Cycle Gas Turbine Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/3pcl65
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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KENNESAW, Ga.--(BUSINESS WIRE)--Valhalla Boatworks is the most recent addition to the list of boat manufacturers currently recycling plastic protective covers through the Yamaha Rightwaters plastics recycling program. To date, the program, which launched in August 2021, is responsible for returning 17,911 pounds of Polyethylene and Polypropylene sheet plastics back into base materials, reducing the amount of plastics in U.S. waterways.
Created, owned and operated by the Viking Yacht Company, Valhalla Boatworks offers four center consoles from 33 to 55 feet and claims the title of being the world leader in semi-custom high-performance luxury center console boats.
“Yamaha Rightwaters, through initiatives such as the plastic recycling program, continues to create opportunities for marine sustainability and conservation. Valhalla Boatworks is enthusiastic about being part of the journey,” says John Leek IV, General Manager of Viking Mullica. “By participating in this program, it’s our hope that we can help significantly reduce plastic in the nation’s waters.”
The Yamaha Rightwaters plastics recycling program leverages a reverse logistics strategy to return the protective covers from select boat builders, retail dealers and its three boat production facilities. Additional contributing manufacturers include Contender® Boats, Regulator Marine, Xpress® Boats, Yamaha Jet Boat Manufacturing (YJBM), Skeeter® and G3® Boats.
The materials ship from participating boat builders and dealers to Tommy Nobis Enterprises, which separates recyclable plastics from other materials, such as plastic zippers, cords and eyelets. Tommy Nobis Enterprises then ships the material - known as “feedstock” in the recycling industry - to Nexus for processing into raw materials, which range from gasses to waxes. Those materials are then used for other products.
Yamaha Rightwaters is a national sustainability program that encompasses all of Yamaha Marine’s conservation and water quality efforts. Program initiatives include habitat restoration, support for scientific research, mitigation of invasive species, the reduction of marine debris and environmental stewardship education. Yamaha Rightwaters reinforces Yamaha’s long-standing history of natural resource conservation, support of sustainable recreational fishing and water resources and Angler Code of Ethics, which requires pro anglers to adhere to principles of stewardship for all marine resources.
Yamaha’s U.S. Marine Business Unit, based in Kennesaw, Ga., is responsible for the sales, marketing, and distribution of Yamaha Marine products in the U.S. including Yamaha Outboards, Yamaha WaveRunners®, Yamaha Boats, G3 Boats and Skeeter Boats. Supporting 2,400 dealers and boat builders nationwide, Yamaha is the industry leader in reliability, performance, technology and customer service.
Nexus®, based in Atlanta, Ga., is an end-to-end plastics recycling business – an operational, commercially scaled, continuous system. The Nexus® plant in Atlanta is the first multi-polymer pyrolysis operation in the US to receive ISCC Plus™ certification. Nexus has developed a highly efficient system built at low capital cost and without a need for catalysts or post-processing, yielding clean, ISCC Plus™ on-specification outputs. Nexus® has converted more than 2.5 million pounds and counting of landfill-bound plastics into virgin resins for customers like Royal Dutch Shell and Chevron Phillips Chemical®. Investors include Cox Enterprises®, a $21-billion family-owned business committed to global sustainability. The Nexus® process is efficient, environmentally friendly, and encompasses rigorous operational and business standards. The company’s operating philosophy is founded on the principle that for any recycling solution to succeed, it must be profitable, technically proven at scale, and operate as a robust stand-along business, while creating a meaningful and positive environmental impact.
Tommy Nobis Center® is a Marietta-based nonprofit that helps individuals with disabilities enter or return to employment.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
Contact:
Nicholas Genesi
Public Relations Manager
Yamaha U.S. Marine Business Unit
Mobile: (470) 898-7278
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Contact:
Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
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VANCOUVER, British Columbia--(BUSINESS WIRE)--$LPEN--Loop Energy™ (TSX:LPEN) appoints experienced technology industry leader Kent Thexton as a Director and Chair of the Board with immediate effect. Former Chair, Dr. Andreas Truckenbrodt, will continue as a Director.
Kent brings over 30 years of experience leading and growing a diverse range of technology companies. Most recently, he spent three years as the CEO and President of Sierra Wireless, a global leader in wireless communications solutions. Prior to his tenure as CEO, Kent served Sierra Wireless as a Director and Chair of the Board for a total of 13 years.
Kent is an accomplished senior executive and director in large corporations and entrepreneurial ventures, and he will provide valuable oversight to the management team. Along with his extensive experience navigating public markets, he brings expertise in corporate leadership, growth marketing and technology company operations.
“I am excited to join Loop Energy and share my experience with the board and management team as we continue to grow,” said Kent Thexton. “Andreas has done a tremendous job of guiding the company over the last few years, and I look forward to building on this success with him and the rest of the board.”
“We are incredibly fortunate to welcome Kent as a Director and Chair of the Board,” said Loop Energy President & CEO, Ben Nyland. “He is an experienced leader with a great record of creating value at several successful public companies. I would like to thank Andreas for the eight years he spent as Chair and the guidance he provided to the management team.”
In addition to Sierra Wireless, Kent has contributed to the boards of several public companies, including Redknee Solutions, now known as Optiva (TSE:OPT), a Canadian provider of telecommunication operations software and services, and O2 PLC, a British telecommunications company. Kent also has extensive experience leading Canadian capital venture companies, including as the Managing Director at OMERs Ventures and the founder of ScaleUP Venture Partners.
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
Investor Inquiries:
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SAN FRANCISCO--(BUSINESS WIRE)--Stem (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy software and services, announced today it will participate in a fireside chat at the J.P. Morgan 2022 Energy, Power & Renewables Conference in New York City.
The fireside chat will take place on Thursday, June 23, 2022, at 2:55 p.m. Eastern Time and will be available via webcast. To access the webcast, please visit https://jpmorgan.metameetings.net/events/epr22/sessions/42382-stem-inc/webcast. A link to the live webcast will also be made available on the Events and Presentations page of Stem’s investor relations website at https://investors.stem.com. A replay of the webcast will be available the day after the event and archived for 30 days on the Events and Presentations page.
Stem’s most recent investor materials can be accessed on its Investor Relations website at https://investors.stem.com/events-and-presentations/.
About Stem, Inc.
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation, and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility, and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. With the acquisition of AlsoEnergy, Stem is a leader in the solar asset management space, bringing project developers, asset owners, and commercial customers an integrated solution for solar and energy storage management and optimization. For more information, visit www.stem.com.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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(847) 905-4400
Stem Media Contacts
Suraya Akbarzad, Stem
Cory Ziskind, ICR
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DUBLIN--(BUSINESS WIRE)--The "Boat Steering Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Boat Steering Systems estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.7 Billion by 2026, growing at a CAGR of 6.8% over the analysis period.
Outboard, one of the segments analyzed in the report, is projected to grow at a 7.1% CAGR to reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inboard segment is readjusted to a revised 6.4% CAGR for the next 7-year period. This segment currently accounts for a 23.7% share of the global Boat Steering Systems market.
The U.S. Market is Estimated at $636.7 Million in 2021, While China is Forecast to Reach $65.8 Million by 2026
The Boat Steering Systems market in the U.S. is estimated at US$636.7 Million in the year 2021. The country currently accounts for a 51% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$65.8 Million in the year 2026 trailing a CAGR of 8.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR while Rest of European market (as defined in the study) will reach US$71.6 Million by the close of the analysis period.
Sterndrive Segment to Reach $146.9 Million by 2026
In the global Sterndrive segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$95.2 Million in the year 2020 will reach a projected size of US$140.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.5 Million by the year 2026, while Latin America will expand at a 6.4% CAGR through the analysis period.
Select Competitors (Total 29 Featured) -
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/lsb9ar
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent"), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce that it has received notification from the Greek State for funding under the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology, Green HiPo. The notification from the Greek State has been sent to the European Union (“EU”) under the IPCEI framework. Upon EU ratification, total funding of euro 782.1 million for Advent’s Green HiPo project will be made available over a period of six years, as submitted in accordance with the following schedule:
Year |
Funding (euro million) |
|||
1 |
35.8 |
|||
2 |
84.3 |
|||
3 |
175.7 |
|||
4 |
259.3 |
|||
5 |
111.7 |
|||
6 |
115.2 |
|||
Total |
782.1 |
Advent’s Green HiPo project was originally among five projects out of twenty candidates from Greece for IPCEI funding. These five projects were then subject to detailed review and due diligence by the EU, resulting in two projects now being notified by the Greek State. The notification in the first wave of IPCEI Hydrogen - Technology projects is a testament to the world-class innovation that Advent Technologies possesses and the belief that Greece and the EU have in Advent’s ability to deliver such an important project.
The scope of Green HiPo, over the initial period of six years, is to innovatively manufacture fuel cell systems and electrolyser systems. It is intended that the production of these systems will take place in Greece in the region of Western Macedonia.
Dr. Vasilis Gregoriou, Advent Chairman and CEO, stated, “Today is a milestone day for Advent but also for Greece and Europe. Green HiPo will catalyse a sea-change of operational events within Advent while the project is implemented. Our application was initially submitted in April 2021, and the process for review and due diligence by the EU has been thorough. We have been clear and focused throughout the process, with the conviction that Advent’s Green HiPo project will be instrumental in hydrogen generation and clean energy production. Green HiPo demonstrates the commitment by Greece and the EU to rapidly decarbonize power production and to move forward to energy security and independence with hydrogen technologies playing a crucial role.”
About Green HiPo
The Green HiPo project involves the development, design, and manufacture of HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively. The project is expected to take place in Western Macedonia, and aid significantly in the region’s transition from a coal-based economy to a greener economic model. A new state-of-the-art facility in Western Macedonia will be home to the production of fuel cells and electrolysers and will contribute to the economic development of the region.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Naiem Hussain, Chief Investment Officer
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Parties to Explore Investment in Advanced Technologies
WASHINGTON--(BUSINESS WIRE)--EIG, a leading institutional investor to the global energy and infrastructure sectors, today announced it has signed a memorandum of understanding (“MoU”) with Aramco to collaborate on future energy projects.
Under the terms of the MoU, the parties will look to pursue investment opportunities in projects that advance their shared sustainability objectives, including in existing and new technologies such as alternative fuels, carbon capture, hydrogen and natural gas, transportation, and energy storage.
“As global energy demand rises, EIG is committed to balancing the twin goals of decarbonization and reliability,” said R. Blair Thomas, EIG’s Chairman and CEO. “As part of this effort, we are thrilled to have the opportunity to work with an industry leader as relevant as Aramco on the pathway to decarbonizing the energy sector. We are fortunate to be an existing partner with Aramco on critical infrastructure in the energy complex and we look forward to building on that partnership as it relates to the future path of our industry.”
“This MoU encompasses one of many important steps in the global effort to address climate change, and we look forward to working with Aramco to create meaningful improvements in the delivery of affordable and reliable clean energy solutions to people around the world,” said Emily Rodgers, EIG’s Director of ESG.
“This MoU further strengthens our relationship with EIG and has potential to drive new investment towards low-emission energy solutions, which both support economic growth and contribute to the broader energy transition,” said Abdulaziz M. Al-Gudaimi, Aramco Senior Vice President of Corporate Development.
The MoU announcement follows last year’s successful closing of a $12.4 billion infrastructure investment deal between Aramco and an international consortium led by EIG, involving the lease and leaseback of oil pipeline infrastructure from Aramco.
About EIG
EIG is a leading institutional investor to the global energy and infrastructure sectors with $25.0 billion under management as of March 31, 2022. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 40-year history, EIG has committed $40.1 billion to the energy sector through 380 projects or companies in 38 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
Media
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
+1 212-687-8080
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LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (“PCTL”) (OTC Pink: PCTL), the parent holding company to Paradigm Convergence Technologies Corp., a company focused on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies, announced today progress in multiple segments of its business.
Based on recent discussions and commitments, PCT is confident its pipeline will grow quickly. Recent expansion into new geographic markets is anticipated to translate into additional contracts with healthcare facilities. There is active interest from several entities regarding the healthcare business. PCT expects to be able to provide further detail in the coming weeks.
“In order to more rapidly accelerate the monetization of our healthcare contracts, PCTL has formed a new wholly-owned subsidiary, '21st Century Healthcare.' We plan on transferring all healthcare related assets into this new subsidiary creating an entity that invites and allows for direct investment opportunities into the healthcare business. This structure is intended to allow us to focus additional financial resources in this sector which is already gaining long-anticipated momentum. Stockholder value should increase from much faster growth and a stronger balance sheet without additional dilution. They should also benefit from the fact that the individual businesses may be worth far more than the current combined value of the company and we look forward to unlocking this potential,” commented CEO Gary Grieco.
The near-term plan is to create something similar in Oil and Gas allowing us to capitalize on momentum in this sector as well. The recently signed Memorandum of Understanding with LeadGreen Energy Services should allow larger-scale drilling to commence later this month and be completed in July. We fully expect this to lead directly to additional opportunities as we move through the third quarter.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiaries. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; any benefit resulting from the transfer of assets to the new healthcare subsidiary; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Brokers and Analysts
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Tim Rieu
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SAN ANTONIO--(BUSINESS WIRE)--Streamline Innovations, Inc. (“Streamline”), the leader in green solutions for treating hydrogen sulfide (H2S) and other toxic emissions, has raised new growth capital via an equity raise led by Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF), which are closed-end funds managed by Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”), and an upsize of its Term Loan from Riverstone Credit Partners LLC, a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”). Riverstone also participated in the equity raise. Proceeds will be used to construct additional Valkyrie™ plants to expand Streamline’s fleet across multiple sectors and geographies.
Sustainable Fitch, a division of Fitch Group focused on ESG, recently recognized the Term Loan as a Green Loan aligned with the four pillars of the LSTA Green Loan Principles and the LSTA category of pollution and prevention. This ESG rating validates Streamline’s green technology as a solution for helping industry move forward to a sustainable and clean future.
Streamline’s patented, biodegradable chemistry and processes convert toxic H2S into elemental sulfur, which can be cleanly disposed of or used in agricultural purposes, such as fertilizer. Many alternative treatment solutions result in hazardous or toxic byproducts that require special handling. In addition, Streamline’s chemistry is regenerative, so it can be reused hundreds of times versus toxic alternatives, reducing its footprint and the consumption of raw materials relative to other alternatives.
“We are thrilled to partner with Kayne Anderson and strengthen our relationship with Riverstone with this growth capital financing,” said David Sisk, Co-Founder and CEO. “The new funds will be put to immediate use to expand our lease fleet. More Valkyrie units will help us meet growing demand for our environmental solutions for H2S and be more responsive to the market by substantially reducing delivery times for our units. Also, we will use this capital to further penetrate and aggressively grow our presence in the energy transition markets, including RNG, LNG, renewable fuels and CCUS.”
Ron Logan, Senior Managing Director and Portfolio Manager at Kayne Anderson, said, “We have been impressed by Streamline’s green solutions for solving a persistent and pervasive problem faced by multiple industries worldwide. We invested in Streamline recognizing its growth potential and are excited to contribute our capital and experience to help scale the business.”
Chris Abbate, a Partner at Riverstone, said, “We are pleased to increase our commitment to Streamline and help them expand their Valkyrie fleet. Their green solutions are exactly what the industry needs to improve environmental performance, reduce emissions and achieve overall sustainability goals.”
Citigroup served as exclusive placement agent for the equity raise.
About Streamline Innovations
Streamline Innovations' vision is Eliminating Emissions Through Technology. We help heavy industry around the world achieve environmental performance objectives, improve sustainability, and transition to a sustainable, low-carbon economy.
Streamline’s environmentally forward H2S treating solutions help our customers achieve the “E” in ESG. H2S is present in many industrial processes throughout the world, and our technology can be applied across industries, delivering a sustainable solution that eliminates H2S, a leading cause of human inhalation accidents, corrosion and SO2 emissions, a primary cause of acid rain.
We also believe that achieving climate-improving directives requires data. Creating intelligent systems that operate effectively and efficiently without human intervention is critical to measuring and reducing emissions that harm the environment. We integrate advanced process control, data collection and analytics in our technologies to provide a total solution for customers.
We serve organizations in multiple sectors, including Energy/Oil & Gas, Biogas, Landfill Gas & Renewable Fuels, Municipal Wastewater and Industrial Air & Water.
Visit streamlineinnovations.com for more information.
About Kayne Anderson Capital Advisors, L.P.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure/energy, renewables, and growth equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. As responsible stewards of capital, Kayne’s philosophy extends to promoting responsible investment practices and sustainable business practices to create long-term value for our investors. Kayne manages $33 billion in assets (as of 4/30/2022) for institutional investors, family offices, high net worth and retail clients and employs 325 professionals in five core offices across the U.S.
About Riverstone Holdings LLC
Founded in 2000, Riverstone is an investment firm focused on executing private equity and credit investments in energy, power, decarbonization and infrastructure. To date, the Firm has raised approximately $43 billion of capital, which it has deployed across its platform to over 200 portfolio companies since inception. For more information about Riverstone, please visit www.riverstonellc.com.
Streamline Innovations
Chip Van Os
Chief Financial Officer
Streamline Innovations, Inc.
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Kayne Anderson
Paul Blank
Chief Operating Officer Kayne Anderson Capital Advisors, L.P.
310-284-6410
Riverstone Holdings LLC
Adam Kneller
Managing Director, Head of Credit Investor Relations
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212-271-2941
VANCOUVER, British Columbia--(BUSINESS WIRE)--#climatechange--A report by the Clear Seas Centre for Responsible Marine Shipping (Clear Seas) provides an overview of the threat climate change poses to Canada’s maritime environment. While many studies address the mitigation of the effects of climate change, the study on Climate Change Vulnerability of the Canadian Maritime Environment goes further and identifies a range of strategies to help adapt to the challenge of the climate crisis.
The report provides a series of tools and frameworks designed to help identify climate change hazards and threats, and acts as an important resource for the people and organizations that rely on Canada’s oceans and waterways to thrive and survive. The study also presents real-world perspectives and maps out practical adaptation strategies to manage the effects of a changing climate. Read the report: https://bit.ly/3xkdT1T
The findings in this report will inform Canada’s National Adaptation Strategy and support pro-active decision-making and planning efforts for safe and sustainable waterways undertaken by the Canadian Coast Guard and other governmental departments, port authorities, industry stakeholders, Indigenous and coastal communities, and others.
“Climate change has very real consequences for mariners, fishers, workers in the tourism industry and many others,” says Paul Blomerus, Executive Director, Clear Seas.
Indigenous Peoples are facing similar challenges because they look to the ocean for their food and livelihood and a deep connection to the natural environment is an integral part of their culture. “The Traditional Knowledge held by Indigenous Peoples also presents valuable potential solutions to understand and adapt to the changing climate,” Blomerus says.
This study provides context to help understand the extent of the challenges climate change poses to the Canadian maritime environment as well as to the organizations responsible for delivering maritime services. By identifying key threats and adaptation strategies, this analysis allows for the development of effective risk mitigation plans, as well as for informed decisions and investments in relation to climate change. This will help ensure the sustainability and safety of marine trade and other maritime activities in Canadian waters and beyond.
The study reviewed:
Presentation of study
Clear Seas will host a webinar on the report, June 28 at 10:00 AM (PDT)/1:00 PM (EDT)/2:00 PM (ADT)/2:30 PM (NDT). Register here: https://bit.ly/3trsoQh
About Clear Seas
Clear Seas is a Canadian not-for-profit and independent research centre that provides impartial information on marine shipping to policy makers and the public. The organization’s research agenda is defined internally in response to current issues, reviewed by a research advisory committee, and approved by a board of directors. All publications are at clearseas.org.
Media:
Edward Downing
Director of Communications
(778) 730-1359 or cell (604) 817-3058
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