• The Company generated net sales of $31.2 million for the first quarter

• Income from operations improved $1.1 million versus the first quarter of 2021

• Backlog of $59.2 million at April 30, 2022 compared to $39.3 million on January 31, 2022

NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2022.

“Revenues for the first quarter of $31.2 million increased 28% from the $24.4 million for the same quarter last year. The resulting income from operations of $0.2 million was also above the $0.9 million loss incurred in the same quarter of 2021," noted President and CEO David Mansfield. "While both revenues and margins improved, there was a corresponding increase to operating expenses, which was partly due to personnel costs and driven by the increased levels of activity."

"During the first quarter of 2022, the oil and gas market in Canada has been returning to increased levels of investment, and the industry outlooks are positive. There has also been a notable improvement to our results in Saudi Arabia, where investments in construction projects are expected to return to pre-pandemic levels.

"Our current backlog of $59.2 million is 50% higher than our January 31, 2022 backlog. After a significant amount of new awards during the quarter, including in Saudi Arabia and the United States, our backlog is at approximately the same level as it was this time last year, and it is distributed very similarly between our different business units.

"The net income from our results does not reflect the same period improvement as is described above, since there is inconsistency in the rates of taxation in the different countries where we operate, and also because we are not recognizing the full tax benefit of past losses. This makes the calculation of effective tax rates extremely inconsistent from period to period, and this is highlighted in the tax charge for this quarter,” concluded Mr. Mansfield.

First Quarter Fiscal 2022 Results

Net sales were $31.2 million in the current quarter, an increase of $6.8 million, or 28%, from $24.4 million in the prior year quarter. The increase was a result of increased sales volumes, partly due to recovery from the effects of the COVID-19 pandemic.

Gross profit increased to $7.0 million, or 23% of net sales, in the current quarter from $4.5 million, or 18% of net sales, in the prior year quarter. This increase was driven by higher sales volumes and project and product mix.

General and administrative expenses increased $1.2 million, or 28%, from $4.4 million in the prior year quarter to $5.7 million in the current quarter. Approximately $0.9 million of this increase was the result of increased incentive compensation. This amount was based on 2021 actual payouts as compared to estimated amounts previously accrued in addition to accruals made for 2022 forecasted results as compared to the prior year quarter, where no incentive compensation was recorded. The remainder of the increase was due to additions to headcount in support of the Company's business growth.

Selling expenses were relatively consistent, increasing slightly to $1.2 million in the current quarter, compared to $1.0 million in the prior year quarter.

Net interest expense increased to $0.4 million in the current quarter from $0.2 million in the prior year quarter. This increase was related primarily to the sale leaseback transaction for our operating facility in Tennessee entered into in April 2021.

Other income, net decreased to an income of less than $0.1 million in the current quarter, compared to approximately $0.4 million in the prior year quarter. In the prior year quarter, the Company received grants from the Canadian government under the Canadian Emergency Wage Subsidy ("CEWS") and Canadian Emergency Rent Subsidy ("CERS") programs. The Company was approved for and received approximately $0.3 million and $0.1 million in grants under the CEWS and CERS programs, respectively, during the prior year quarter. Grants to the Company under both programs ended in the second quarter of 2021.

Loss from operations before income taxes decreased by $0.5 million to a loss of $(0.2) million in the current quarter from a loss of $(0.7) million in the prior year quarter. The improvement was a result of increased sales volumes and margins as described above.

The Company's worldwide effective tax rates ("ETR") were (455.9%) and (24.3%) in the current quarter and the prior year quarter, respectively. The change in the ETR from the prior year quarter to the current year quarter is largely due to changes in the mix of income and loss in various jurisdictions.

The resulting net loss of $(0.9) million in the current quarter was relatively consistent with the net loss of $(0.8) million in the prior year quarter.

Percentages set forth above in this press release have been rounded to the nearest percentage point and may not exactly correspond to the comparative data presented.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in six countries.

Forward-Looking Statements

Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the impact of global economic weakness and volatility; (iv) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (v) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (vi) the Company’s ability to repay its debt and renew expiring international credit facilities; (vii) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (viii) the Company's ability to collect a long-term account receivable related to a project in the Middle East; (ix) the Company’s ability to interpret changes in tax regulations and legislation; (x) the Company's ability to use its net operating loss carryforwards; (xi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s over-time revenue recognition; (xii) the Company’s failure to establish and maintain effective internal control over financial reporting; (xiii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xiv) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xv) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xvi) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xvii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xviii) reductions or cancellations of orders included in the Company’s backlog; (xix) risks and uncertainties specific to the Company's international business operations; (xx) the Company’s ability to attract and retain senior management and key personnel; (xxi) the Company’s ability to achieve the expected benefits of its growth initiatives; and (xxii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)

The Company's Form 10-Q for the quarter ended April 30, 2022 will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website.

Note: Per share calculations could be impacted by rounding.

Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO

Perma-Pipe Investor Relations
(847) 929-1200
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DUBLIN--(BUSINESS WIRE)--The "Offshore Pipeline Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The offshore pipeline market is expected to register a CAGR of more than 6% during the forecast period of 2022 - 2027.

Companies Mentioned

• Saipem SpA
• L&T Hydrocarbon Engineering Limited
• McDermott International, Ltd.
• Allseas Group SA
• Bourbon Corporation SA
• Enbridge Inc.
• Subsea 7 SA
• Genesis Energy, L.P.
• China Petroleum Pipeline Engineering Co., Ltd.
• Atteris LLC

Key Market Trends

Gas Segment to Witness Significant Growth

• The increasing demand for natural gas has led to the discovery of new gas fields and further adoption of easy and cheap transportation of natural gas exports through subsea (offshore) pipelines are expected to drive the offshore pipeline market.
• Global natural gas production has recorded at 3853.7 billion cubic meters in 2020. North America is the leading natural gas producer and accounts for about 1109.9 billion cubic meters, followed by Middle-East and Africa with 917.9 billion cubic meters. This is expected to drive the offshore pipeline market during the forecast period.
• Furthermore, in October 2021, Guyana has announced plans to build a 220km-long subsea (offshore) gas pipeline. The proposed pipeline will have a gas transport capacity of about 50 million standard cubic feet per day (MMSCFD) from ExxonMobil-operated Liza Phase 1 and 2 projects.
• In January 2022, Abu Dhabi National Oil Company has announced the discovery of raw gas (between 1.5 to 2 trillion standard cubic feet) in an offshore area located in the northwest of the Emirates.
• Moreover, the recent waves of cost reductions and critical technological breakthroughs enabled many oil and gas exploration and production companies to expand their portfolio of sustainable deepwater and ultra-deepwater developments. As a result, the offshore pipeline market is expected to witness significant growth in the near future.
• Therefore, owing to the above points, the gas segment is expected to witness dominant growth during the forecast period.

North America to Dominate the Market

• North America is expected to dominate the global market share for the offshore pipeline market during the forecast period. The countries are trying to invest in offshore oil and gas exploration activities. During the forecast period, oil and gas pipeline infrastructure in the countries like the United States and Canada are expected to continue running at full capacities.
• With the increasing activities in the Gulf of Mexico, the United States is expected to witness significant growth in the offshore pipeline market. The upcoming 18 new projects of gas production are believed to hold a combined 836 billion cubic feet of natural gas reserves.
• In 2021, BP announced the commencement of the Manuel project in the US Gulf of Mexico. The project includes a new subsea production system for two new wells tied into the Na Kika platform. The wells are expected to boost gross platform production by an estimated 20,100 barrels of oil equivalent a day (boe/d).
• Moreover, the Canadian pipeline industry is expected to experience stable and robust growth over the next several years, due to the technological advancements. Also, the Canadian oil and gas sector may record high levels of production, with the pipelines considered as the safest and most reliable cost-effective way to meet the energy requirement for high-value end-user markets.
• Therefore, North America is expected to be the dominant region in the offshore pipeline market, supported by increasing investments in oil and gas projects during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2027

4.3 Crude Oil Historic Trend and Production Forecast in million barrels per day, Global, until 2027

4.4 Brent Crude Oil and Henry Hub Spot Prices, until 2021

4.5 Natural Gas Historic Trend and Production Forecast in billion cubic feet per day (bcf/d), Global, until 2027

4.6 Recent Trends and Developments

4.7 Government Policies and Regulations

4.8 Market Dynamics

4.8.1 Drivers

4.8.2 Restraints

4.9 Supply Chain Analysis

4.10 Porter's Five Forces Analysis

4.10.1 Bargaining Power of Suppliers

4.10.2 Bargaining Power of Consumers

4.10.3 Threat of New Entrants

4.10.4 Threat of Substitute Products and Services

4.10.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Product Type

5.1.1 Oil

5.1.2 Gas

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 South America

5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/280z8p

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

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For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

BOLT-ON ACQUISITION HIGHLIGHTS

• Bolt-on acquisition (the “Asset Acquisition”) of high oil-cut, core working interest properties in the Williston Basin for $170 million initial purchase price from a private party (the “Seller”)
• Average production >2,500 Boe per day (2-stream, ~83% oil) expected over the next twelve months
• Inventory rich acquisition with 17.5 net undeveloped locations, including 2.6 net wells in process and ~3,500 net acres
• NOG owns existing interests in approximately 50% of the acquired property value, providing high confidence and visibility
• Forward 1-year unhedged cash flow from operations (4/1/22 effective date) expected to be greater than $73 million at strip pricing as of 5/31/22, representing an initial purchase price transaction multiple of 2.3x
• Strong free cash flow profile with only ~$20 – 25 million of annual sustaining capital expenditures necessary to maintain production
• Transaction expected to be accretive to all material valuation metrics, including TEV / EBITDA, earnings per share, free cash flow and cash flow per share over a multi-year period
• Acquisition to be financed with cash; continue to expect 2022 year-end leverage ratio <1x

ADDITIONAL ORGANIC AND GROUND GAME ACTIVITY, GUIDANCE AND SHAREHOLDER RETURN UPDATES

• Strong organic elections combined with commitments on five meaningful Ground Game transactions driving additional completions in 2022 and 2023
• 2022 wells spud expected to grow to 65 net wells, a 10-well increase compared to original forecast; average wellhead IRR expected to be >100%
• Raising production and capital expenditures guidance to adjust for the Asset Acquisition, increased well count and increased Ground Game budget; expect Q4:22 exit rate to exceed high-end of new annual production guidance range
• NOG has executed significant hedges for the Asset Acquisition and increased activity
• NOG has completed additional Preferred Stock repurchases and initial Notes repurchases

MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced that it has entered into an acquisition agreement in the Williston Basin and provided additional updates on operations and guidance.

WILLISTON BASIN ACQUISITION

NOG has entered into a definitive agreement to acquire non-operated interests in the Williston Basin for an initial purchase price of $170 million in cash, subject to typical closing adjustments. The Seller may earn an additional $5 million in contingent payments in 2023 if WTI oil prices exceed $92.50 on December 30, 2022. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings under NOG’s revolving credit facility.

At closing, production on the assets is expected to be greater than 2,300 Boe per day (2-stream, ~85% oil) and NOG expects average production of approximately 2,500 Boe per day over the next twelve months post-closing (2-stream, ~83% oil). NOG expects approximately $15 million of capital expenditures to be incurred post-closing in 2022. These high-quality properties have operating costs lower than NOG’s corporate average on its Williston Basin properties.

The acquired assets are primarily located in Dunn, McKenzie and Williams Counties, ND and include approximately 3,500 acres, 9.2 net producing wells, 2.6 net wells-in-process and 14.9 net engineered economic undeveloped locations. NOG expects 0.8 net wells to be turned-in-line in 2022 post-closing. The assets are operated primarily by Marathon Oil, Continental Resources and ConocoPhillips, and NOG owns existing interests in approximately 50% of the acquired property value.

The effective date for the transaction is April 1, 2022, and NOG expects to close the transaction in August 2022. The obligations of the parties to complete the transactions contemplated by the purchase agreement are subject to the satisfaction or waiver of customary closing conditions.

HEDGING UPDATE

In addition to its continuous hedging program, NOG has hedged, as standard practice, a significant portion of the pending transaction and for increased activity levels. Updated hedge schedules can be found in NOG’s related June Acquisition Presentation at http://ir.northernoil.com.

ADDITIONAL ORGANIC DEVELOPMENT AND GROUND GAME SUCCESS

NOG has agreed to terms on five meaningful Ground Game transactions in the second quarter of 2022, which should drive significant growth to both late 2022 and 2023 projected volumes and cash flows. Additional organic elections and Ground Game wells to be turned-in-line are roughly equally weighted to the Williston and Permian Basins. NOG expects this activity to turn-in-line an additional 3.7 net wells in the back half of 2022 and 1.3 net wells in the first half of 2023. NOG has allocated a portion of its existing Ground Game budget towards these transactions. NOG’s Ground Game capital budget for 2022 has been increased by $40.0 million, inclusive of both potential acquisition and development costs. The increase to the Ground Game budget is driven by an increasing opportunity set of near-term projects with attractive full cycle returns.

REVISED 2022 PRODUCTION AND CAPITAL SPENDING GUIDANCE

NOG anticipates, pro forma for the transactions and at current strip pricing, increasing its Free Cash Flow target for 2022 from >$425.0 million to >$500.0 million.

NOG anticipates a Q4:22 exit rate above the high-end of the revised 2022 annual production guidance range.

NOG will revise additional guidance line items upon closing of the transaction, scheduled for August 2022.

INCREASED SHAREHOLDER RETURNS

In the second quarter-to-date, NOG has in total repurchased $18.7 million in Liquidation Preference value of its Series A Convertible Preferred Stock (the “Preferred”), or an additional $15.0 million since reporting its first quarter 2022 results. These transactions were completed by mid-May 2022 at lower than current market prices. In total, the $55.0 million of Preferred repurchased year-to-date reduces annualized dividend payments by $3.6 million per annum and have reduced the diluted share count by approximately 2.4 million shares, based on the current conversion ratio. The current outstanding Liquidation Preference value of the Preferred is $166.9 million.

Additionally, NOG repurchased $5.0 million of its 8.125% Senior Unsecured Notes due 2028 (the “Notes”) at 98.6% of par value, plus accrued interest. Currently $745.0 million of par value of Notes remain outstanding.

MANAGEMENT COMMENTS

“We continue to use a multi-pronged approach to create value for our shareholders,” commented Nick O’Grady, NOG’s Chief Executive Officer. “As the natural consolidator of working interests, our strong financial position has allowed us to recycle our substantial free cash flow into meaningful growth opportunities. Importantly, we still expect less than a 1x leverage ratio by year-end 2022. We are well ahead of our goals for this year, but these developments are setting the stage for material growth in volumes and cash flow for 2023.”

“While the Permian continues to be a source of growth, we continue to find significant opportunities to grow our Williston Basin position,” commented Adam Dirlam, NOG’s President. “Anchored by significant inventory, high oil cuts, strong margins and existing ownership in over 50% of the properties, this bolt-on transaction fits perfectly with our strategy.”

ADVISORS

Kirkland & Ellis LLP is serving as legal advisor to NOG.

Raymond James served as lead financial advisor to NOG.

ABOUT NORTHERN OIL AND GAS

NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about NOG can be found at www.northernoil.com.

SAFE HARBOR

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding NOG’s financial position, common stock dividends, business strategy, plans and objectives of management for future operations, industry conditions, capital expenditures, production, cash flow, hedging and other matters are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “guidance,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on NOG's properties and properties pending acquisition, the effects of the COVID-19 pandemic and related economic slowdown, NOG's ability to acquire additional development opportunities, integration and benefits of property acquisitions, or the effects of such acquisitions on Northern’s cash position and levels of indebtedness, changes in NOG's reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which NOG conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, NOG's ability to consummate any pending acquisition transactions (including the transactions described herein), other risks and uncertainties related to the closing of pending acquisition transactions (including the transactions described herein), NOG's ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG's operations, products, services and prices.

NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond NOG's control. NOG does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
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DUBLIN--(BUSINESS WIRE)--The "Refining Industry 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 refining capacity increased from 103,723 mbd in 2016 to 107,568 mbd in 2021 at an Average Annual Growth Rate (AAGR) of 0.7%. It is expected to increase from 107,568 mbd in 2021 to 122,673 mbd in 2026 at an AAGR of 2.6%.

The US, China, Russia, India, and the South Korea are the major countries that accounted for 48.5% of the total refinery capacity of the world in 2021.

Report Scope

• Updated information on all active and upcoming (planned and announced) refineries globally
• Provides key details such as refinery name, operator name, refinery type, status for all active, suspended, planned, and announced refineries in a country
• Provides an annual breakdown of new-build and expansion capital expenditure outlook by region and by key countries for the period 2022-2026
• Latest developments and contracts related to a refinery, at the regional level, wherever available

Key Report Benefits:

• Obtain the most up to date information available on all active, suspended, planned, and announced refineries globally
• Identify growth segments and opportunities in the refining industry
• Facilitate decision making on the basis of strong refinery capacity data
• Assess your competitor's refinery portfolio

Key Topics Covered:

1. Introduction

1.1. What is this Report About?

1.2. Market Definition

2. Global Refining Industry, Snapshot

2.1. Global Refining Industry, Key Data, 2021

2.2. Global Refining Industry, Planned and Announced Refineries

2.3. Global Refining Industry, New Units and Capacity Expansions by Region

2.4. Global Refining Industry, Regional Comparisons

3. Africa Refining Industry

3.1. Africa Refining Industry, Snapshot

3.2. Africa Refining Industry, Planned and Announced Refineries, Capacity Expansions and Capex by Country

3.3. Africa Refining Industry, New Units and Capacity Expansions by Key Countries

3.4. Africa Refining Industry, Egypt

3.5. Africa Refining Industry, Algeria

3.6. Africa Refining Industry, South Africa

3.7. Africa Refining Industry, Nigeria

3.8. Africa Refining Industry, Libya

3.9. Africa Refining Industry, Morocco

3.10. Africa Refining Industry, Sudan

3.11. Africa Refining Industry, Angola

3.12. Africa Refining Industry, Cote d'Ivoire

3.13. Africa Refining Industry, Cameroon

3.14. Africa Refining Industry, Ghana

3.15. Africa Refining Industry, Djibouti

3.16. Africa Refining Industry, Tunisia

3.17. Africa Refining Industry, Gabon

3.18. Africa Refining Industry, Senegal

3.19. Africa Refining Industry, Zambia

3.20. Africa Refining Industry, Niger

3.21. Africa Refining Industry, Congo Republic

3.22. Africa Refining Industry, Chad

3.23. Africa Refining Industry, South Sudan

3.24. Africa Refining Industry, Sierra Leone

3.25. Africa Refining Industry, Recent Developments

3.26. Africa Refining Industry, Recent Contracts

4. Asia Refining Industry

4.1. Asia Refining Industry, Snapshot

4.2. Asia Refining Industry, Planned and Announced Refineries, Capacity Expansions and Capex by Country

4.3. Asia Refining Industry, New Units and Capacity Expansions by Key Countries

4.4. Asia Refining Industry, China

4.5. Asia Refining Industry, India

4.6. Asia Refining Industry, South Korea

4.7. Asia Refining Industry, Japan

4.8. Asia Refining Industry, Singapore

4.9. Asia Refining Industry, Thailand

4.10. Asia Refining Industry, Indonesia

4.11. Asia Refining Industry, Taiwan

4.12. Asia Refining Industry, Malaysia

4.13. Asia Refining Industry, Pakistan

4.14. Asia Refining Industry, Vietnam

4.15. Asia Refining Industry, Philippines

4.16. Asia Refining Industry, Brunei

4.17. Asia Refining Industry, North Korea

4.18. Asia Refining Industry, Myanmar

4.19. Asia Refining Industry, Bangladesh

4.20. Asia Refining Industry, Sri Lanka

4.21. Asia Refining Industry, Laos

4.22. Asia Refining Industry, Afghanistan

4.23. Asia Refining Industry, Mongolia

4.24. Asia Refining Industry, Recent Developments

4.25. Asia Refining Industry, Recent Contracts

5. Caribbean Refining Industry

6. Central America Refining Industry

7. Europe Refining Industry

8. Former Soviet Union Refining Industry

9. Middle East Refining Industry

10. North America Refining Industry

11. Oceania Refining Industry

12. South America Refining Industry

For more information about this report visit https://www.researchandmarkets.com/r/7k8k7r

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.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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ANAHEIM, Calif.--(BUSINESS WIRE)--Phoenix Motor Inc. (“Phoenix” or the “Company”) (NASDAQ: PEV), a California based company that designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles (“EVs”), today announced the pricing of its initial public offering (the “Offering”) of 2,100,000 shares of common stock (the “Shares”) at a public offering price of $7.50 per Share, for total gross proceeds of $15,750,000 before deducting underwriting discounts and commissions and offering expenses. The Offering is being conducted on a firm commitment basis. The Shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on June 8, 2022, under the ticker symbol “PEV.”

The Company has granted the underwriters an option, exercisable within 30 days from the closing of the Offering, to purchase up to an additional 315,000 Shares at the public offering price to cover over-allotment, if any, less underwriting discounts and commissions.

The offering is expected to close on June 10, 2022, subject to customary closing conditions.

Prime Number Capital LLC is acting as the sole book runner and representative of the underwriters. Revere Securities LLC and Westpark Capital, Inc. are acting as co-managers for the Offering. Loeb & Loeb LLP is acting as counsel to the Company, and Robinson & Cole LLP is acting as counsel to Prime Number Capital LLC.

The Company intends to use the net proceeds from this Offering primarily for investment in its technology, research and development efforts, manufacturing, marketing, maintaining and expanding its intellectual property portfolio and for working capital and other general corporate purposes.

A registration statement on Form S-1 (File No. 333- 261384) relating to the Offering has been filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on June 7, 2022. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus related to the offering may be obtained, when available, from Prime Number Capital LLC by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the final prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicles (“EVs”) industry, through its wholly owned subsidiaries, designs, assembles, and integrates electric drive systems and light and medium duty EVs and markets and sells electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, “Phoenix Motorcars” focused on commercial products including medium duty EVs, chargers and electric forklifts, and “EdisonFuture” which intends to offer light-duty EVs. As an EV pioneer, the Company delivered its first commercial EV in 2014 and deployed the very first zero emission airport shuttle bus at the Los Angeles International Airport (“LAX”), and the LAX fleet has grown to 39 electric shuttle buses, one of the largest of its kind. Los Angeles Air Force Base in El Segundo and NASA’s Jet Propulsion Laboratory in Pasadena, California are among the Company’s customers for the Company’s first generation E Series Zeus EVs. Phoenix intends to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. For more information, please visit: www.phoenixmotorcars.com and www.edisonfuture.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding trading on the NASDAQ Capital Market and closing of the Offering are forward-looking statements. No assurance can be given that the net proceeds of the Offering will be used as indicated. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to convert concept trucks and vans into production and sales; the Company’s product development timeline and expected start of production; development of competitive trucks and vans manufactured and sold by the Company’s competitors and major industry vehicle companies; the Company’s ability to scale in a cost-effective manner; the Company’s future capital requirements and sources and uses of cash; the Company’s ability to obtain funding for its future operations; the Company’s financial and business performance; changes in the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; the implementation, market acceptance and success of its business model; expectations regarding the Company’s ability to obtain and maintain intellectual property protection and not infringe on the rights of others; and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Underwriter

Prime Number Capital LLC
Ms. Xiaoyan Jiang, Chairwoman
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Phone: 516-582-9666

DUBLIN--(BUSINESS WIRE)--The "Enhanced Oil Recovery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global enhanced oil recovery (EOR) market reached a value of US$ 49.84 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 81.45 Billion by 2027, exhibiting a CAGR of 8.28% during 2022-2027.

Companies Mentioned

• BASF SE
• Halliburton Corporation
• Royal Dutch Shell Plc
• Schlumberger Ltd.
• Chevron Phillips Chemical Corporation
• Fmc Technologies Inc.
• National Aluminium Company Limited (NALCO)
• Praxair Inc.
• Secure Energy Services Inc.
• Xytel Corporation
• Equinor ASA
• BP Plc
• China Petroleum & Chemical Corporation (Sinopec)
• Oil & Natural Gas Corporation Ltd. (ONGC)
• ExxonMobil Corporation
• ConocoPhillips
• Petroleo Brasileiro (Petrobas) S.A.
• PJSC Lukoil Oil Company

Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor

Enhanced oil recovery (EOR), also known as tertiary recovery, refers to the process through which otherwise immobile residual oil is mobilized either physically, chemically or thermally. As primary and secondary oil recovery methods can leave up to 75% of the oil in the reservoir, oil extracting companies have started relying on EOR or tertiary oil recovery methods. Thermal recovery, gas injection and chemical injection are the most commonly used EOR techniques across the globe. Although most of the EOR technologies are currently used offshore, oil companies are developing technologies to expand onshore EOR methods

Over the past few years, the rapid depletion of fossil fuels has contributed to the increasing application of EOR technologies in the oil and gas industry. The rising demand for oil has further added to the growing demand for EOR worldwide. In addition, several governments around the world are taking initiatives for utilizing advanced technologies for oil extraction to achieve higher profits from existing oil and gas fields.

For example, countries like China and India are offering financial incentives to attract multinational companies to invest in the enhanced oil recovery market. In line with this, various companies all over the world are engaging in R&D activities to improve oil recovery. For instance, British Petroleum has developed advanced techniques that can extract oil using thermally activated microscopic particles which expand deep into the reservoir

Key Questions Answered in This Report:

• How has the global enhanced oil recovery market performed so far and how will it perform in the coming years?
• What are the key regional markets in the global enhanced oil recovery industry?
• What has been the impact of COVID-19 on the global enhanced oil recovery market?
• What is the breakup of the global enhanced oil recovery market based on the technology?
• What is the breakup of the global enhanced oil recovery market based on the application?
• What are the various stages in the value chain of the global enhanced oil recovery market?
• What are the key driving factors and challenges in the global enhanced oil recovery market?
• What is the structure of the global enhanced oil recovery market and who are the key players?
• What is the degree of competition in the global enhanced oil recovery market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Enhanced Oil Recovery Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Breakup by Technology

5.5 Market Breakup by Application

5.6 Market Breakup by Region

5.7 Market Forecast

6 Market Breakup by Technology

7 Market Breakup by Application

8 Market Breakup by Region

9 SWOT Analysis

10 Value Chain Analysis

11 Porters Five Forces Analysis

12 Competitive Landscape

12.1 Market Structure

12.2 Key Players

12.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/scwgti

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NUR-SULTAN, Kazakhstan--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), through its subsidiary Chevron Munaigas Inc. (Chevron), and JSC NC “KazMunayGas” (KMG) have announced a memorandum of understanding (MoU) to explore potential lower carbon business opportunities in Kazakhstan.

Chevron and KMG plan to evaluate the potential for lower carbon projects in areas such as carbon capture, utilization, and storage (CCUS); hydrogen; energy efficiency and methane management; and carbon financial disclosure methodology.

The MoU was signed by Derek Magness, managing director for Chevron’s Eurasian Business Unit, and Magzum Mirzagaliyev, chairman of the Management Board of KMG, in Nur-Sultan on the eve of the 34th Plenary session of the Foreign Investors Council chaired by President of Kazakhstan Kassym-Jomart Tokayev and Chevron’s executive vice president of Upstream Jay Johnson.

“At the UN Climate Ambition Summit, President Kassym-Jomart Tokayev made a statement about Kazakhstan's intention to achieve carbon neutrality by 2060. KazMunayGas, in its turn, has set a goal to reduce its carbon footprint by 15 percent by 2031 compared to 2019 levels and is going to take further actions under the Paris Agreement and Kazakhstan’s Doctrine of Carbon Neutral Development. However, lower carbon is a new area for us, and we believe that Chevron’s wide experience in implementing lower carbon technologies and practices in the oil and gas industry will contribute to our capabilities and lead to joint lower carbon projects. We highly appreciate the partnership that has developed over the years of Chevron’s presence in our country,” Mirzagaliyev said.

“Chevron has been investing in Kazakhstan for close to three decades. We are proud of our history of partnership and are committed to investing in the country’s energy future. This MoU with KazMunayGas marks a new chapter in our company’s efforts to support the development of Kazakhstan’s energy sector,” Magness said. “We firmly believe that we can play an important role in the country’s energy transition and achievement of its carbon-reduction targets. Through our collaboration with KMG, we hope to contribute to providing affordable, reliable, ever-cleaner energy, and help the industries and customers who use our products to advance their lower carbon goals.”

“Chevron knows the future of energy is lower carbon and achieving the global net zero ambitions of the Paris Agreement will require partnership and collaboration,” said Jeff Gustavson, president of Chevron New Energies, which was launched in 2021 to focus on establishing lower carbon businesses in CCUS, hydrogen, renewable fuels, offsets, and other emerging areas. “We are excited about the opportunity to pursue these lower carbon opportunities with KazMunayGas and help advance the energy transition in Kazakhstan.”

The collaboration between Chevron and KMG is part of the efforts from both companies to support Kazakhstan’s target vision to achieve carbon neutrality by 2060.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About KazMunayGas

JSC National Company “KazMunayGas” is a leading vertically integrated oil and gas company in Kazakhstan. KMG manages assets throughout the entire production cycle, i.e. from exploration and production of hydrocarbons to transportation, refining and provision of maintenance services. Founded in 2002, the company represents the Republic of Kazakhstan’s interests in the national oil and gas industry.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “toward,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company's 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Chevron
Sally Jones
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+44 5601091435

Creighton Welch
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281.703.2728

KazMunayGas
Dauren Omarov
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+7 7172 78 62 31
+7 717278 91 49

CLEVELAND--(BUSINESS WIRE)--Power management company Eaton was recently honored with a 2022 Communicator Award of Distinction by The Academy of Interactive & Visual Arts. The annual award recognizes creative excellence among marketing and communications professionals.

“Congratulations to our global Communications team for the external recognition on Eaton’s inaugural Global Inclusion and Diversity Transparency report,” said Monica Jackson, vice president, Global Inclusion and Diversity. “It creatively and transparently shares our commitment and progress toward achieving our aspirational goal of becoming a model of inclusion and diversity in our industry.”

Founded by passionate communications professionals more than two decades ago, the Communicator Awards honor the best of digital, video, podcast, marketing, mobile and print work. Eaton won for Brochure of Distinction, which falls in the Design & Print category. More than 4,000 entries were received in all categories from across the U.S. and world this year.

“Coming in as the new managing director of the AIVA, I was thrilled to be greeted by such a high level of creativity among the submissions for the 28^th season of the Communicator Awards,” said new AIVA managing director Lauren Angeloni. “I want to congratulate all of the honorees for their well-deserved wins. I would also like to extend deep and sincere thanks to our jurors, who have devoted a massive amount of time to give back to their communities in the evaluation of so much amazing and powerful work.”

For more information on the 2022 Communicator Awards and to see the full list of winners, go to Winners - Communicator Awards. To view Eaton’s award-winning entry and learn more about its inclusion and diversity journey, please visit Inclusion & diversity | Eaton.

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.

Drew Horansky, +1 (440) 523-4306

With the launch of their commercial demonstration facility in Sardinia, Italy, Energy Dome’s energy storage technology is ready for market

MILAN--(BUSINESS WIRE)--Energy Dome, a leading provider of utility-scale long-duration energy storage, today announced the successful launch of its first CO2 Battery facility in Sardinia, Italy. This milestone marks the final de-risking of the CO2 Battery technology as Energy Dome enters the commercial scaling phase, becoming the first commercial long-duration energy storage technology on the market offering a reliable alternative to fossil fuels for dispatchable baseload power globally.

The initial phase of operations has confirmed the performance of the CO2 Battery and its capability of storing energy for a long duration, all while maintaining highly competitive round-trip efficiency, without degradation or site dependency. The Sardinia demonstration project has proven this innovative process using off-the-shelf equipment available from a globally established supply chain, demonstrating that the rapid global deployment of the CO2 Battery is now possible with no bottlenecks.

“I am proud of our dedicated team and of our results. We can now provide an answer to the most pressing issue of our time: climate change,” said Energy Dome Founder and CEO Claudio Spadacini. “Our breakthrough technology, the CO2 Battery, is now commercially available to make cost-effective renewable energy dispatchable on a global scale.”

Energy Dome’s CO2 Batteries can be quickly deployed anywhere in the world at less than half the cost of similar-sized lithium-ion battery storage facilities, and use readily available materials, such as carbon dioxide, steel and water. Energy Dome is now preparing for its first full-scale 20MW-200MWh plant. Its first commercial project, Commercial Operation Date, is expected to be deployed by the end of 2023.

Energy Dome began its operations in February 2020 and has progressed from a concept to full testing at multi-megawatt scale in just over two years. To achieve this, Energy Dome has tapped a team of experts in turbomachinery, process engineering and energy, with a proven track record in ventures designing novel turbines and building over 500MW of energy projects. This successful launch is also in part due to the unique nature of Energy Dome’s process, which integrates known components in a novel industrial process based on a thermodynamic transformation of CO2.

The company has already secured multiple commercial agreements, including with an Italian utility A2A for the construction of a first 20MW-5h facility. Earlier this year, Energy Dome also signed a non-exclusive license agreement with Ansaldo Energia, a major provider of power generation plants and components, to build long-duration energy storage projects in Italy, Germany, the Middle East and Africa.

Energy Dome’s plan is backed by investors including European deeptech venture capital firm 360 Capital, Barclays, Novum Capital Partners and Third Derivative.

To fund the rapid commercial scale-up, Energy Dome plans to launch its Series B fundraising round for prospective investors interested in its groundbreaking energy storage technology.

About Energy Dome

Energy Dome is an energy storage solution provider that is unlocking renewable energy by making solar and wind power dispatchable using the CO2 Battery. Led by a team with a track record of innovation in the energy sector, Energy Dome’s low-cost energy storage technology helps accelerate the global transition to renewable energy by enabling greater penetration of renewables on the grid. In 2022, the company won the prestigious BloombergNEF Pioneers competition under the category “providing round-the-clock zero-emissions power." For more information, please visit www.energydome.com.

Cassandra Sweet
Antenna for Energy Dome
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• Project to enhance industry’s first Universal Automation system, EcoStruxure Automation Expert™ by creating a Distributed Control Node (DCN) software framework
• With the convergence of IT and OT, industry leaders are collaborating to bring innovation, flexibility to end user systems

BOSTON--(BUSINESS WIRE)--At ARC Forum Orlando, Schneider Electric, the leader in the digital transformation of energy management and automation, today announced a collaboration with Intel to extend EcoStruxure™ Automation Expert by creating a Distributed Control Node (DCN) software framework complimented by an associated Intel processor-based DCN hardware offering.

By combining the performance, security and deployment capabilities of Intel Edge Controls for Industrial (ECI) technology with EcoStruxure™ Automation Expert, the DCN framework can simplify and speed the development of software defined control systems. Additionally, the DCN will enable EcoStruxure Automation Expert – the world’s first software-centric automation system – to scale faster and further in process industries, including energy and chemicals, mining, water/wastewater, pharmaceuticals and hybrid markets.

This DCN development will be based on Universal Automation (UniversalAutomation.org), an organization that manages the implementation of a shared source runtime based on the IEC61499 standard. EcoStruxure Automation Expert represents the first of a new era of automation software based on this shared runtime.

Advances in machine learning, real-time analytics and the Industrial Internet of Things (IIoT) hold massive promise for industrial enterprises and manufacturers. However, the industry has suffered from the lack of a future-proof solution that can be easily upgraded to keep systems running at optimal performance.

A fundament feature of EcoStruxure Automation Expert is the ability to decouple software from hardware. This allows hardware to be upgraded as required to improve system performance while the application remains the same, thereby protecting the customers intellectual property and investments. The joint effort between Schneider Electric and Intel illustrates the industry’s transition from fixed-function hardware to software-defined, flexible, plug and produce solutions that deliver customers greater operational effectiveness.

“This is the direction for process automation,” said Natalie Marcotte, SVP and President, Process Automation, Schneider Electric. “To fully realize the potential of next-generation industries, we must embrace a collaborative way of thinking. This collaboration with Intel greatly enhances the capabilities of EcoStruxure Automation Expert, enabling the platform to scale faster and further. To create a new wave of innovation, we must work with all parties to create a more modular software-defined industry.”

“Software-defined systems that bring together the worlds of OT and IT are the future of process automation. The ability to mix and match leading software and hardware will allow customers to innovate quickly while still enjoying the operation performance they demand,” said Christine Boles, VP, Network & Edge Group, General Manager, Industrial Solutions Division, Intel Corporation. “Working with Schneider Electric in such a collaborative way, utilizing Intel’s industrial specific processors and software, allows us to move quickly to develop and deliver new solutions that bring together innovative technologies that help customers achieve the benefits of Industry 4.0.”

Initial results of this joint DCN framework development will be shared at this fall’s Schneider Electric Innovation Summit – Las Vegas (October 12-13).

Discover how the #IndustriesOfTheFuture will help you #MakeItForLife

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog

Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights

Hashtags: #IndustrialAutomation #Industry40 #IndustriresOfTheFutrue #UniversalAutomation

Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.

Schneider Electric Media Relations – Thomas Eck, (917) 797-4974

PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS: TE) has been awarded a Bankable Feasibility Study (BFS) contract by Viridian Lithium for the construction of the first lithium refining and conversion plant in Europe.

Located in Lauterbourg, France, the plant will produce up to 100,000 tons of Battery Grade lithium chemicals per year – which is the equivalent capacity to power 2 million electric vehicles – to enable a secure and sustainable battery supply chain for the transition to electric mobility.

The contract consists in a Bankable Feasibility Study (BFS), and a preferential right on the construction of the plant and its three foreseen extensions.

Laure Mandrou, Senior Vice President Carbon-Free Solutions of Technip Energies, commented: “We are very excited to start this new journey with Viridian Lithium. It is the beginning of an industrial partnership that is fully in line with Technip Energies' strategy of engineering a sustainable future. We are committed to support Viridian Lithium in the creation of the first French and European Lithium stream.”

Remy Welschinger, Co-Founder & President of Viridian Lithium, said: “We are very pleased to partner with Technip Energies to develop a clean and reliable supply chain for batteries to empower the transition to electric mobility.”

Purified lithium chemicals are non-substitutable materials for lithium-ion batteries and are strategic materials for the European automotive industry. The Project will increase the supply chain autonomy of our electric vehicle industry. Lithium is one of the four key metals of the energy transition.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States. For further information: www.technipenergies.com.

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. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Technip Energies
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 20 7585 5051
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Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
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Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
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Viridian Lithium
www.viridianlithium.com
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The company’s non-printed lithium metal anode battery will go to market in 4Q2022

SAN JOSE, Calif.--(BUSINESS WIRE)--Sakuu Corporation (https://www.sakuu.com/), developer of the world’s first rapid printed battery, today announces that its first-generation non-printed lithium metal battery has achieved continuous 3C discharge rate under extensive testing. This result comes after Sakuu’s recent announcement that its lithium-metal battery cells registered a consistent baseline benchmark energy-density of 800Wh/L—placing it at the forefront of today’s leading commercially available lithium-ion batteries found in top-selling electric vehicles and other mass energy storage applications.

Sakuu’s new lithium metal anode battery will be shipped to Sakuu’s customers starting in 4Q2022. This milestone represents the culmination of extensive testing and validation by Sakuu and its customers across energy density, cycle life, safety, temperature requirements—and now discharge rates. This first-generation Sakuu battery is ideally suited for its e-mobility motor and e-bike customers and other industry product applications that prioritize its non-flammable and safe cell characteristics coupled with leading energy density.

“The performance achievements of our first market-ready battery are a testament to our team’s commitment to introducing a diverse line of state-of-the-art energy storage solutions across industries,” said Robert Bagheri, Founder and CEO of Sakuu. “As far as our solid-state battery development, we are preparing to unveil a new category of rapid printed batteries manufactured at-scale using our additive manufacturing platform. The sustainability and supply chain implications of this pioneering development will be transformational.”

In the ongoing development of the world’s first printed solid-state battery, sample cell deliveries are anticipated to ship to clients in 2023. The introduction of an entirely new battery category, rapid printed cells, will be made from Sakuu’s Kavian™ platform. Rapid printed batteries developed by Sakuu will allow for the total reinvention of battery manufacturing. Sakuu’s Kavian™ platform will enable customizable, mass-scale, and cost-effective manufacturing of solid-state batteries–benefits that solve foundational challenges confronting battery manufacturers today.

About Sakuu

Headquartered in San Jose, California, USA, Sakuu is reinventing large-scale, sustainable battery technology and manufacturing. Sakuu’s breakthrough rapid printed cells deliver best-in-class performance and safety in a recyclable format. Proprietary solid-state electrolyte and porous anode technology provide superior energy densities for maximum range and faster charge times. Sakuu’s solid-state batteries will be produced entirely using Sakuu’s Kavian™ platform in custom or large factory settings, enabling rapid, 3D-printed, high-volume, low-cost, and sustainable production of Sakuu’s solid-state batteries– engineered to meet mass-market demand. Beyond energy, Sakuu’s Kavian™ 3D printing platform invites transformative active device manufacturing innovation in a host of other sectors, including aerospace and automotive, consumer electronics, IoT and medical.

To learn more about Sakuu, please visit www.sakuu.com

Pal Hollywood
Sterling Communications
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(860) 877-9670

HOUSTON--(BUSINESS WIRE)--Titan Division of Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, today introduced a new line of circulating shaped charges designed to improve cement placement during well plug and abandon (P&A) operations.

Building on the perforating technology of the company’s first generation of KnockOut circulation (puncher) shaped charges, the KnockOut 360° circulating shaped charge eliminates the earlier version’s requirement for a zero phased gun configuration which could limit the area open to flow and coverage required for a reliable cement plug.

The KnockOut 360° system can be run in a phased gun configuration to perforate 360 degrees of the inner tubing, leaving the outer casing with minimal controlled damage regardless of primary to secondary casing orientation. This makes it the ideal circulating shaped charge line for P&A applications.

KnockOut 360° perforating system also provides consistent entry holes in the inner tubing to maximize open flow area, and perfect cement distribution for plugging the well. The system is currently available in 2-in. and 5 1/8-in. O.D.’s. A 7-in. version is in development for release later this year.

Hunting’s perforating technology is accessible through Hunting’s network of distribution centers strategically located in all the world’s oil-producing regions.

About Hunting

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.

The company’s Hunting Energy Services Titan Division engineers and manufactures perforating systems, wireline selective firing systems, cased hole logging instruments, nuclear detectors, energetics, and associated wireline hardware and accessories.

Business Contact:
John Feuerstein, Hunting, 281-442-7382, This email address is being protected from spambots. You need JavaScript enabled to view it.

TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum Corporation (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico, is set to join the broad-market Russell 3000^® Index at the conclusion of the 2022 Russell indexes annual reconstitution on June 27, 2022 according to the preliminary list of additions posted by FTSE Russell on June 3, 2022.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks, ranking them by total market capitalization. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes.

Empire CEO, Tommy Pritchard, said, “We are excited to be joining the Russell 3000 Index and increasing our exposure to the investment community, particularly following our strong first quarter and recent up-listing to the NYSE American.” Mike Morrisett, President, added, “This is an excellent milestone for our Company, and we look forward to communicating with a broader audience of investors.”

Russell indexes are part of FTSE Russell, a leading global index provider. Membership in the US all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

About Empire Petroleum

Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico. Management is focused on internal growth through optimization of existing assets and targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. More information about Empire can be found at www.empirepetrocorp.com.

About FTSE Russell

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by the London Stock Exchange Group. For more information, visit www.ftserussell.com.

Empire Petroleum Corporation:
Tommy Pritchard, CEO
Mike Morrisett, President
539-444-8002
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Investor Relations:
Stephanie Prince
PCG Advisory
Ph: (646) 863-6341

MELBOURNE--(BUSINESS WIRE)--Rio Tinto and the Salzgitter Group have signed a Memorandum of Understanding (MOU) to work together towards carbon-free steelmaking by studying optimisation of Rio Tinto’s high-quality Canadian and Australian iron ore products for use in Salzgitter’s SALCOS green steel project in Germany.

Under the MOU, Rio Tinto and Salzgitter will explore optimisation of iron ore pellets, lump and fines for use in hydrogen direct reduction steelmaking. The two companies will also explore the potential for greenhouse gas emission certification across the steel value chain.

Rio Tinto produces iron ore pellets and concentrate at Iron Ore Company of Canada and iron ore lump and fines in Western Australia’s Pilbara region. The partnership will focus on the potential use of these products in the SALCOS® - Salzgitter Low CO2 Steelmaking programme, which is targeting virtually carbon-free steel production, starting step-by-step in 2025 using hydrogen direct reduction.

Rio Tinto Chief Commercial Officer Alf Barrios said “We welcome the chance to work with Salzgitter on ways to accelerate green steelmaking, in keeping with our commitment to reduce emissions across the steel value chain.

“Salzgitter has one of the world’s most advanced green steelmaking projects. Rio Tinto is excited at the opportunity of supplying our product and combining our technical expertise with that of Salzgitter to help advance the SALCOS project.”

Salzgitter Flachstahl GmbH Chairman of the Management Board Ulrich Grethe said “With this alliance, we want to combine the knowledge of both companies to make further progress with low-carbon steel production.

“In this context, the Salzgitter Group is relying on strong partners, as set out in our ‘Salzgitter AG 2030’ Group strategy, in line with its motto of ‘Partnering for Circular Solutions’.”

Rio Tinto is committed to reaching net zero emissions by 2050 and is targeting a 15% reduction in Scope 1 & 2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. Rio Tinto’s approach to addressing Scope 3 emissions is to engage with its customers on climate change and work with them to develop the technologies to decarbonise.

Under the SALCOS program, Salzgitter’s carbon-based blast furnace route will gradually be replaced from the middle of this decade by direct reduction plants, initially operated by natural gas and then with a steadily increasing proportion of hydrogen.

riotinto.com

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Illtud Harri
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Matthew Klar
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Media Relations, Americas

Simon Letendre
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Investor Relations, UK

Menno Sanderse
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Clare Peever
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Rio Tinto plc

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T +44 20 7781 2000
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Media Relations, Australia

Jonathan Rose
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Matt Chambers
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Investor Relations, Australia

Amar Jambaa
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Rio Tinto Limited

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Melbourne 3000
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Registered in Australia
ABN 96 004 458 404

Category: General

HOUSTON--(BUSINESS WIRE)--Andros Capital Partners LLC (“Andros”) today announced that its affiliate, Andros Minerals LLC (“Andros Minerals”) has entered into a definitive purchase and sale agreement to acquire a portfolio of mineral and royalty interests located in the Midland Basin, Delaware Basin, and Eagle Ford Shale for $122 million from an undisclosed private seller.

“We are excited to establish Andros Minerals as a direct mineral and royalty acquisition platform with this initial acquisition,” said Andros Founder and Managing Partner Phillip A. Gayle, Jr. “A tremendous amount of private capital has been invested in minerals over the past decade and is looking for an exit. We believe we are uniquely positioned as the appropriate long-term owner of these assets and will continue to acquire and aggregate mineral and royalty interests at scale across the most active U.S. basins.”

Gibson Dunn & Crutcher LLP acted as legal counsel to Andros.

About Andros Capital Partners LLC

Andros Capital Partners is a private investment firm based in Houston, Texas. Andros combines flexible, long-duration capital with an opportunistic investment mandate, leveraging a proven track record of building, operating and monetizing assets across the energy value chain. For more information please visit www.androscapital.com.

Meredith Hargrove Howard
Redbird Communications Group
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OSLO, Norway--(BUSINESS WIRE)--The small island of Donsö is renowned as a historic fishing village, where even today boathouses at the harbour honour its rich maritime heritage with name plaques of fishing vessels. It forms the perfect backdrop for Sweden’s biggest all-inclusive trade fair – Donsö Shipping Meet, taking place on June 14^th and 15^th this year. In the lead up to this event, IEC Telecom Norway, one of the leading satcom service operators in the region, shares insights on the latest trends in marine comms.

“Sea transport is important for a myriad of economic activities in the Nordic region – with 90% of Sweden’s international trade traffic conducted over water,” shares Alf Stian Mauritz, CAO and President – North & Central Europe, IEC Telecom Group. “Due to their locations, heavy process industries in Sweden and Finland are highly dependent on sea transport. Besides, Norway owns the ninth biggest merchant fleet in the world while Denmark operates the fifth largest container fleet in terms of gross tonnage. In parallel today, Donsö has been home to increased activity in the tanker shipping sector, especially for bulk goods and chemicals, and is expanding its harbour for bigger ships,” he adds.

This merchant sector represents the largest market for connectivity needs and has generated about $300 million in maritime satcom service revenues in 2021. With an 18% global share of vessels, the Scandinavian countries and the European Union are heavily invested in maritime satcom installations and emphasise crew welfare. According to Euroconsult, the number of VSATs in the fishing segment alone is expected to increase 400% by 2024 and the bandwidth consumption per vessel is expected to double.

New crew welfare and safety regulations as well as high-performance broadband services even in the harshest weather conditions are prompting vessel owners to readily adopt onboard connectivity. “Tracking and monitoring services in particular are expected to witness a significant growth rate in the near future,” says Mr. Mauritz. With its portfolio of IoT solutions, IEC Telecom offers real-time visibility over maritime operations.

This year, IEC Telecom will present the state-of-the-art LT-4100 satellite communications system at Donsö Shipping Meet for the first time. Suitable for racing, shipping, leisure vessels, and workboats, LT-4100 has been particularly designed for the rough environment at sea. Thanks to a pioneering heating element, it can operate between a broad temperature range, perfect for the Nordic region and its heavy sea traffic. LT-4100 is the first Iridium Certus 100 terminal, delivering voice and data connectivity with 100% global coverage.

IEC Telecom has been part of the Nordic satellite communications market for over a decade, with a regional flagship office in Oslo, Norway.

*Source: AETOSWire

Anastasia Kuzmenko, +971(0)44475180
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W. iec-telecom.com

AUSTIN, Texas--(BUSINESS WIRE)--Pennybacker Capital Management, LLC (Pennybacker), a leading real asset private equity firm, has engaged Longevity Partners, a rapidly expanding full service ESG advisory business, to advance its sustainability strategy in the company’s operations and real asset portfolio. Pennybacker is committed to continually integrating measurable and impactful ESG practices into every element of the firm’s strategy, portfolio, and investment decisions.

In June 2021, Pennybacker and Longevity Partners commenced a detailed project that included a legislation study, peer reviews, identification of stakeholder engagement, the establishment of KPIs, and an execution roadmap. In partnership with Longevity Power, a subsidiary of Longevity Partners, the project also outlined actionable clean energy solutions.

“ESG is a continuation of Pennybacker’s mission of improving the lives of our teachers, tenants, and teams. Since our founding, we have been committed to maximizing the efficiency of our investment portfolio. This engagement is the next logical step for Pennybacker to track consumption and emission data, ultimately establishing short- and long-term reduction targets,” said Tim Berry, CEO of Pennybacker. “Putting in place measurable and actionable benchmarks across a diverse range of metrics is imperative to the well being of our tenants, teacher, and team. The expertise of Longevity is pivotal to developing a best-in-class ESG strategy.”

“Pennybacker is a leader in the United States for the depths of its commitment to ESG,” said Etienne Cadestin, Global Founder and CEO of Longevity Partners. “It’s a pleasure to develop procedures, strategies and metrics for an ambitious firm with the potential to make a massive impact on its stakeholders and the environment.”

About Pennybacker Capital Management

Pennybacker Capital Management is a real estate private equity investment manager with offices in Austin, New York, Denver, and Charlotte. The firm pursues value and income and growth strategies within a broad spectrum of real estate asset classes, across the entire capital structure. Pennybacker has a proven 15+ year track record, having invested in and/or operated more than $3.6 billion of real estate value throughout the United States. The firm has sponsored seven discretionary value-add real estate private equity funds, two real estate credit funds, and eight syndicated investments. For more information, visit https://www.pennybackercap.com.

About Longevity Partners

Operating in over 40 countries for more than 100 institutional investors across all asset classes, Longevity Partners provides all services required to future-proof property investment portfolios. From carbon foot-printing to climate risk and ESG strategy development and implementation, our experts provide all the tools to respond to ESG performance requirements from pension funds to asset owners. Longevity works hand-in-hand with real estate owners to position their assets for the demands of tomorrow, while improving the well-being of users and net operating income today.

The company considers anticipated legislation and achievable benchmarks when improving client’s ESG performance. Asset managers must be aware of how they can optimize their assets’ resiliency to extreme weather events, better manage regulatory risks and improve the quality of their products over time to respond to client demand. For more information, please visit https://www.longevity-partners.com/.

Tierney Model Ehrhart
Co-Founder
August PR
M: 917.216.6520
IG:@Augustprny
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DUBLIN--(BUSINESS WIRE)--The "Geothermal Power Generation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The report analyzes the historical and present-day scenario of the global geothermal power generation market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how global geothermal power generation market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global geothermal power generation market, which aids companies operating in the market in making strategic development decisions. This study also elaborates on significant changes that are highly anticipated to configure growth of the global geothermal power generation market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global geothermal power generation market and estimates statistics related to growth of the market in terms of volume (Mw) and value (US$ Bn).

This study covers a detailed segmentation of the global geothermal power generation market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global geothermal power generation market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

The report provides detailed information about the global geothermal power generation market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global geothermal power generation market, so as to help them design successful strategies and make target-driven decisions.

Key Questions Answered:

• How are key market players successfully earning revenue out of advantages of the global geothermal power generation?
• What would be the Y-o-Y growth trend of the global geothermal power generation market between 2021 and 2031?
• What are the winning imperatives of leading players operating in the global geothermal power generation market?
• Which are the leading companies operating in the global geothermal power generation market?

   

Key Topics Covered:

1. Preface

2. Executive Summary

3. Market Overview

3.1. Introduction

3.2. Value Chain Analysis

3.3. Market Drivers

3.4. Market Restraints

3.5. Market Opportunities

3.6. Porter's Five Forces Analysis

3.7. Market Attractiveness Analysis of Geothermal Power Generation Market, by Technology, 2020

3.8. Company Market Share Analysis

4. Geothermal Power Generation Market: Technology Analysis

4.1. Global Geothermal Power Generation Market: Technology Overview

4.2. Dry Steam Plants

4.3. Flash Steam Plants

4.4. Binary Cycle Power Plant

5. Geothermal Power Generation Market: Regional Analysis

5.1. Global Geothermal Power Generation Market: Regional Overview

5.2. North America

5.3. Europe

5.4. Asia Pacific

5.5. Latin America

5.6. Middle East & Africa

6. Company Profiles

• Ormat Technologies Inc.
• Enel Green Power
• Cyrq Energy Inc.
• Calpine Corporation
• Alterra Power Corporation
• Northern California Power Agency
• Ram Power Corporation
• US Geothermal Inc.
• Orkuveita Reykjavikur (Reykjavik Energy)
• Raya Group Limited
• Contact Energy
• Sumitomo Corporation
• Mannvit
• Mitsubishi Heavy Industries Ltd.
• Energy Development Corporation

For more information about this report visit https://www.researchandmarkets.com/r/i5gu6n

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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Investment enables Vantage to expand access to renewable energy for customers and ensures energy price security

DENVER & LUXEMBOURG--(BUSINESS WIRE)--#africa--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has entered into a 20-year power purchase agreement (PPA) with SolarAfrica, a pioneer in South Africa’s solar energy financing. This agreement will enable Vantage to supplement the local grid that powers the company’s Johannesburg (JNB1) data center campus, which is slated to open in July, with renewable energy. Additionally, this investment will further drive the creation of renewable energy in the region by supporting the expansion of SolarAfrica’s De Aar solar project.

The Northern Cape of South Africa is considered one of the most abundant solar sites in the world. Within SolarAfrica’s larger solar farm, Vantage’s investment will support the production of 87MWp of renewable energy and is forecasted to reduce the emission of CO2 in the region by an additional 3.8 million tons over the lifetime of the agreement. At its completion, Vantage’s Johannesburg data center campus will have 80MW of IT capacity, of which up to 33% is expected to be supported by the solar farm. The state-of-the-art campus, located in the thriving business and data center ecosystem of Waterfall City, is situated on 30 acres (12 hectares) and will feature three facilities across 650,000 square feet (60,000 square meters) once fully developed.

“Vantage’s investment in SolarAfrica’s De Aar project reaffirms our continued commitment to sustainability and our drive to reach net zero by 2030,” said Justin Jenkins, chief operating officer of EMEA and president of the U.K., Vantage Data Centers. “Not only will energy from this investment be used to power our Johannesburg campus, but it will also serve as another example of using solar-driven energy across the data center industry. In the near term, solar energy faces increasing demand, driving prices higher across South Africa. This investment, however, will ensure a stable price for our customers.”

“With climate change being the defining challenge of our time, it’s crucial that we accelerate our carbon mitigation efforts to transform our planet into a sustainable green economy.” said Charl Alheit, SolarAfrica director. “We are continually driven to assist our customers in reaching their green energy goals while saving them money in the process. The rollout of the 87MWp solar farm for Vantage’s campus, which will be one of the largest in South Africa, is an exciting step for us as we gear up to help even more businesses save with cheaper, cleaner energy through wheeling.”

This agreement is another crucial step in Vantage’s long-term commitment to sustainability. In 2021, Vantage announced that the company will achieve net zero carbon emissions globally by 2030, marking a significant milestone in its work to increase efficiencies and reduce environmental impacts at its hyperscale data center campuses worldwide.

About Vantage Data Centers

Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.

For more information, visit www.vantage-dc.com.

About SolarAfrica

Founded in 2011, SolarAfrica is a progressive company that has evolved into a dynamic team passionate about providing simple, sustainable savings to their customers. Starting out as one of the only companies in South Africa specializing in solar financing through Power Purchase Agreements (PPAs), SolarAfrica’s product offering has grown exponentially. As market leaders, the company specializes in bringing together their financial and technical expertise to provide the best energy solutions. Ten years later, the company’s diversified offering provides a holistic approach to solar solutions that are created to meet the long-term sustainable needs of their customers. SolarAfrica’s integrated solutions are designed to reduce electricity costs and provide energy security to enable a sustainable future for businesses.

For more information, visit www.solarafrica.com.

Mark Freeman
Vantage Data Centers
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+1-202-680-4243

Robin Bectel
REQ for Vantage Data Centers
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+1-703-287-7827

Marion Chevillotte
Vantage Data Centers
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+352-691-000-551