NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, is convening its 2022 annual general meeting of shareholders (the "AGM") to be held on Wednesday, June 15, 2022, at 3:00 pm Central European Time. The Annual General Meeting will be held solely via video conference initiated from Luxembourg, Grand Duchy of Luxembourg.
Access to the video conference, convening notice, and other documents distributed to the shareholders prior to the AGM, can be found here: https://ir.freyrbattery.com/calendar/event-details/2022/2022-Annual-General-Meeting-of-Shareholders/
In advance of the AGM, FREYR has published the company’s 2021 Annual Report, featuring the Chief Executive Officer’s letter, and information on FREYR’s people, policies, commitment to Environmental Social and Governance best practices, and strategy.
FREYR's 2021 Annual Report on Form 10-K for the year ended December 31, 2021 (the "2021 Annual Report") was initially filed with the U.S. Securities and Exchange Commission on March 9, 2021, and can be downloaded from the SEC's website (http://www.sec.gov). Our 2021 Annual Report is also available on our corporate website (https://ir.freyrbattery.com/Financials/annual-reports/default.aspx). Hard copies of our complete 2021 audited financial statements can be ordered, free of charge, by contacting the company.
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028. To learn more about FREYR, please visit www.freyrbattery.com
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (+1) 281-222-0161
Media contact:
Katrin Berntsen
Vice President, Communication and Public Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (+47) 920 54 570
WASHINGTON--(BUSINESS WIRE)--The United States Trade and Development Agency (USTDA) has awarded a grant to DOE Americas LLC via its affiliate, Mekong Clean Energy Infrastructure Co., Ltd. (MCEI) in Vietnam.
This grant, awarded on May 11, will be focused on the feasibility study of the 500-kilovolt (kV) transmission line in Vietnam for the Bac Lieu 3.2-gigawatt (GW) power plant that will enable a multitude of renewables projects in the southern provinces to be connected to the national grid for the next 25 years.
“The grant provides endorsement by the U.S. government to provide affordable and reliable clean energy to the country and people of Vietnam,” said Ian Nguyen, Managing Director, Delta Offshore Energy. “This government-to-government partnership will support Vietnam to achieve its goal of carbon neutrality by 2050 and support economic development for its people as declared at the 26th U.N. Climate Change Conference of Parties (COP26).”
The special ceremony was attended by U.S. Secretary of Commerce Gina M. Raimondo, USTDA Director Enoh T. Ebong, the prime minister of Vietnam, His Excellency Pham Minh Chinh, and nine of his top ministers, including Minister of Industry and Trade (MOIT) H.E. Nguyen Hong Dien. Black & Veatch Management Consulting LLC (Black & Veatch) was represented by its vice president and senior managing director, Deepa Poduval, and Delta Offshore Energy Americas LLC was represented by managing director Bobby Quintos.
U.S.-based engineering and construction firm Black & Veatch will be responsible for the execution of the feasibility study in the United States and Vietnam.
“Development of the Thot Not transmission line will address a key strategic concern of the Bac Lieu LNG-to-Power project and ensure the real benefits of lower carbon energy are dispatched reliably and effectively to the people of Vietnam,” said Poduval, Black & Veatch’s global advisory lead. “Black & Veatch is committed to continue supporting Vietnam in achieving new levels of technical and commercial success as it delivers upon its ambitious energy transition plans.”
Black & Veatch will engage with the Institute of Energy of the Socialist Republic of Vietnam in preparing the feasibility study on Vietnam-specific matters.
“This USTDA grant for the feasibility study of the 500-kV transmission line from Bac Lieu to Thot Not will enable many renewable projects along the route that would not have been realized without the 500-kV line to evacuate their electricity. The USTDA grant also supports very good American jobs at home and levels the playing field for U.S. companies to compete abroad,” Delta Offshore Energy Americas, LLC’s Quintos said.
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
JIM SUHR | +1 913-458-6995 P | +1 314-422-6927 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 855-999-5991
Floating LNG Terminal will provide energy security and supply diversification to Finland while also serving more broadly the needs of the Baltic Sea region
HELSINKI, Finland--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) and a subsidiary of Gasgrid Finland Oy (Gasgrid Finland) today signed a ten-year contract in Helsinki to charter a floating storage and regasification vessel (FSRU) that will provide flexible, reliable, and secure liquefied natural gas (LNG) to Finland, Estonia, and the Baltic Sea Region.
Excelerate President and CEO Steven Kobos, Gasgrid Finland CEO Olli Sipilä and Gasgrid Finland Chairman of the Board Kai-Petteri Purhonen signed the contract at the Government Palace in Helsinki in a ceremony also attended by Minister of Finance Annika Saarikko, Director-General for Energy Riku Huttunen, and U.S. Ambassador to Finland Douglas Hickey.
Under the time charter party agreement, Excelerate will deploy its FSRU Exemplar to provide regasification services in Southern Finland. The Exemplar has storage capacity of 150,900 m3 of LNG and can provide more than 5 billion cubic meters per year (bcm/y) of regasification capacity.
Per the cooperation agreement signed on May 4 by Gasgrid Finland and Estonia’s gas transmission operator Elering AS, the FSRU may be located in an Estonian port this winter if the port structures are not yet completed in Finland. The Governments of Finland and Estonia published a memorandum of understanding on April 29 agreeing to jointly lease an FSRU.
“Flexible access to LNG is a critical component of European energy security,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “We are honored to collaborate with Gasgrid Finland to deliver essential energy infrastructure that will benefit Finland and more broadly the Baltic Sea region. As a leader in flexible LNG solutions, Excelerate is proud to support the goals of the U.S.-EU Task Force for Energy Security, which include diversifying LNG supplies in alignment with climate objectives."
Olli Sipilä, CEO of Gasgrid said, “We are glad that we were able to sign the agreement on such a fast schedule. It required the committed contribution of dozens of top professionals, for which I am very grateful. The project requires seamless cooperation between different actors as well in the future, and the project is progressing as planned. Leasing an LNG terminal vessel is extremely important, as it ensures security of supply for gas supplies in both Finland and Estonia. On the other hand, we see that there is a need for the terminal in the wider Baltic Sea region and it has been received with interest.”
About Excelerate Energy:
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Manila, Rio de Janeiro, Singapore, and Washington, DC.
About Gasgrid Finland Oy:
Gasgrid Finland Oy is a Finnish state-owned company and transmission system operator with system responsibility. We offer our customers safe, reliable, and cost-efficient transmission of gases. We actively develop our transmission platform, services, and the gas market in a customer-oriented manner to promote the carbon-neutral energy and raw material system of the future. Find out more: www.gasgrid.fi/
Excelerate Contacts
Investors
Craig Hicks
Excelerate Energy
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media
Stephen Pettibone / Frances Jeter
Sard Verbinnen & Co
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
This email address is being protected from spambots. You need JavaScript enabled to view it.
Gasgrid Finland Contacts
Olli Sipilä, CEO, Gasgrid Finland Oy, +358 40 589 4686, This email address is being protected from spambots. You need JavaScript enabled to view it.
Esa Hallivuori, Head of Gas market Unit, Gasgrid Finland Oy, +358 40 581 5027, This email address is being protected from spambots. You need JavaScript enabled to view it.
Media inquiries:
Engela Gyldén, Gasgrid Finland Oy, +358 45 885 1008, This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today net income of $11.1 million, $5.62 per share, for the quarter ended March 31, 2022. During the period cash flow from operations and the sale of properties totaled $23.3 million and excess cash has been used to reduce bank debt. Currently the Company has no borrowings outstanding on its credit facility with $50 million of availability. The borrowing base redetermination is scheduled for June 2022 and the Company expects the availability to increase 50% to approximately $75 million.
Oil and natural gas production and the average prices received (excluding gains and losses from derivatives) for the three months ended March 31, 2022 and 2021 were as follows:
|
|
Three Months Ended March 31, |
||||||||||
|
2022 |
2021 |
Increase /
|
Increase /
|
||||||||
Barrels of Oil Produced |
|
273,000 |
|
163,000 |
|
110,000 |
67.48 |
% |
||||
Average Price Received |
$ |
96.36 |
$ |
56.87 |
$ |
39.48 |
69.43 |
% |
||||
Oil Revenue (In 000’s) |
$ |
26,305 |
$ |
9,270 |
$ |
17,035 |
183.76 |
% |
||||
Mcf of Gas Sold |
|
777,000 |
|
665,000 |
|
112,000 |
16.84 |
% |
||||
Average Price Received |
$ |
4.82 |
$ |
2.49 |
$ |
2.33 |
93.37 |
% |
||||
Gas Revenue (In 000’s) |
$ |
3,746 |
$ |
1,658 |
$ |
2,088 |
125.93 |
% |
||||
Barrels of Natural Gas Liquids Sold |
|
104,000 |
|
86,000 |
|
18,000 |
20.93 |
% |
||||
Average Price Received |
$ |
37.03 |
$ |
20.29 |
$ |
16.74 |
82.40 |
% |
||||
Natural Gas Liquids Revenue (In 000’s) |
$ |
3,851 |
$ |
1,745 |
$ |
2,106 |
120.69 |
% |
||||
Total Oil & Gas Revenue (In 000’s) |
$ |
33,902 |
$ |
12,673 |
$ |
21,229 |
167.51 |
% |
||||
|
Three Months Ended March 31, |
|||||||
|
|
2022 |
|
2021 |
|
|||
Revenues (In 000’s) |
$ |
26,213 |
$ |
13,004 |
|
|||
Net Income (Loss) (In 000’s) |
$ |
11,142 |
$ |
(1,455 |
) |
|||
Earnings per Common Share: |
|
|
||||||
Basic |
$ |
5.62 |
$ |
(0.73 |
) |
|||
Diluted |
$ |
4.07 |
$ |
(0.73 |
) |
|||
Shares Used in Calculation of: |
|
|
||||||
Basic EPS |
|
1,980,878 |
|
1,994,197 |
|
|||
Diluted EPS |
|
2,737,422 |
|
1,994,197 |
|
|||
Total assets at March 31, 2022 were $205,487,000 compared to $210,914,000 at December 31, 2021.
PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas and Oklahoma. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.
Forward-Looking Statements
This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.
Connie Ng, (713) 735-0000 ext 6416
NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQB: KGEIF (temporarily: KGEID)), announces that its indirect wholly owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) has entered into a new US $75 million revolving line of credit (“new facility”) from BOK Financial (“BOKF”) with an initial commitment amount of US$20,000,000.
The new facility has a four year term and provides for interest only payments until the June 2026 maturity date, with bi-annual scheduled reserve redeterminations. Initial proceeds from the new facility were used to fund the re-payment of BNK US’ previous facility with BOKF. The new facility bears interest at a per annum rate equal to an elected SOFR rate plus a margin ranging from 3% to 4%, depending on the borrowing base utilization amount. The Company currently has US$16.2 million drawn on the new facility which bears interest at 4.64%, assuming the current SOFR rate.
Post consolidation the Company’s ticker remains KEI on the TSX. On the OTCQB due to the consolidation the ticker has temporarily changed to KGEID for 20 business days, at which time it will revert back to KGEIF.
Commenting on the new facility, Wolf Regener, President and CEO, said, “We appreciate having BOKF’s continued support of our Tishomingo project. The new loan provides us with additional credit available and extended maturity to June 2026. We plan to use this facility and our cash flow to continue our 2022 drilling program in the 3rd quarter.”
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws, including statements regarding payments under the credit facility and the Company’s plans and objectives. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator’s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays labor or contract disputes or shortages of equipment or labor are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Wolf E. Regener, +1 (805) 484-3613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.kolibrienergy.com
Gas utility is one of 31 named based on surveys among 79,223 residential electric, natural gas and combination utility customers of the 140 largest U.S. utility companies
PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural, a 163-year-old natural gas utility based in Portland, was recently named a 2022 Environmental Champion by Escalent, based on a survey of 79,223 gas and electric utility customers from the nation’s largest 140 utilities.
The survey is from Escalent’s Environmental Dedication score and according to Cogent Syndicated’s 2022 Utility Trusted Brand & Customer Engagement program.
Since 2014, Escalent’s Environmental Dedication score comprises customer ratings of utility actions to build strong environmental stewardship. Among those actions, customers rate utilities highest on providing programs and tools that help them lower their energy consumption and on being committed to clean energy. Learn more about the survey here.
Read more about NW Natural’s commitment to a low-carbon future at nwnatural.com/destinationzero.
About NW Natural
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 785,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural, a part of Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and has been doing business for more than 160 years. NW Holdings owns NW Natural, NW Natural Renewables Holdings (NW Natural Renewables), NW Natural Water Company (NW Natural Water), and other business interests. We have a longstanding commitment to safety, environmental stewardship, and taking care of our employees and communities. Learn more in our latest ESG Report.
Media Contact:
Stefanie Week, This email address is being protected from spambots. You need JavaScript enabled to view it., 503.739.9902
DUBLIN--(BUSINESS WIRE)--The "Africa Nitrogen Generators Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.
The country research report on Africa nitrogen generators market is a customer intelligence and competitive study of the Africa market. Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the Africa market.
Also, factors that are driving and restraining the nitrogen generators market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market.
Additionally, this report provides readers with market insights and a detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of the nitrogen generators market in Africa.
Segments Covered
The report on Africa nitrogen generators market provides a detailed analysis of segments in the market based on type, and end-user.
Segmentation Based on Type
Segmentation Based on End-User
Highlights of the Report
The report provides detailed insights into:
1) Demand and supply conditions of the nitrogen generators market
2) Factor affecting the nitrogen generators market in the short run and the long run
3) The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, and technological factors
4) Key trends and future prospects
5) Leading companies operating in the nitrogen generators market and their competitive position in Africa
6) The dealers/distributors profiles provide basic information of top 10 dealers & distributors operating in (Africa) the nitrogen generators market
7) Matrix: to position the product types
8) Market estimates up to 2027
The report answers questions such as:
1) What is the market size of the nitrogen generators market in Africa?
2) What are the factors that affect the growth in the nitrogen generators market over the forecast period?
3) What is the competitive position in Africa nitrogen generators market?
4) What are the opportunities in Africa nitrogen generators market?
5) What are the modes of entering Africa nitrogen generators market?
Key Topics Covered:
1. Report Overview
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for Africa Nitrogen Generators Market
3.5. IGR-Growth Matrix Analysis
3.6. Competitive Landscape in Africa Nitrogen Generators Market
4. Africa Nitrogen Generators Market by Type
4.1. PSA Nitrogen Generator
4.2. Cryogenic Nitrogen Generator
4.3. Membrane Nitrogen Generator
5. Africa Nitrogen Generators Market by End-User
5.1. Electrical & Electronics
5.2. Transportation
5.3. Chemicals
5.4. Medical & Pharmaceuticals
5.5. Others
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/tyz4zf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Some Simple Tips Can Help Save Lives in a Crisis
OAKLAND, Calif.--(BUSINESS WIRE)--One of the most important safety tips shared by Pacific Gas and Electric Company (PG&E) is to treat all downed powerlines as if they are energized and keep away. Circumstances, however, can become more complicated if a powerline is in the path of an evacuation route.
“It’s very unusual for a powerline to make contact with a vehicle, but should that occur, we want our customers to be prepared with the knowledge that can save their lives,” said Frank Fraone, PG&E public safety specialist. “This is especially important when discussing evacuation plans with your family and friends, since wildfires and earthquakes can cause powerlines to fall.”
PG&E has tips and a helpful video to keep you and your loved ones safe on the road.
If you see a downed powerline:
If you are evacuating due to an emergency, and downed powerlines are blocking your path:
If your vehicle comes in contact with a downed powerline:
If there is a fire and you must exit a vehicle that has come in contact with downed powerlines:
Additional driving tips:
Learn more at safetyactioncenter.pge.com.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.
MEDIA RELATIONS:
415-973-5930
BOSTON--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, is calling for an urgent rethink of investment priorities and greater collective action to spur global climate change efforts at the upcoming WEF in Davos.
Scenarios by Schneider’s Sustainability Research Institute shows that stimulating a demand-led transition is the only scenario in which emissions will fall fast enough to limit global warming to 1.5 degrees. The Research Institute will be launching the Towards Net Zero Buildings: a practical pathway e-book at Davos, looking at how the current deadlock of supply vs. demand can be broken. Key findings include:
The e-book provides a practical roadmap for governments and industries to balance the costs of the energy transition with the additional burden on communities, particularly in the current unpredictable climate. It also features a new framework for future-proofing buildings for buildings developed in conjunction with WEF which presents a model and a toolkit to accelerate investment to decarbonize cities. Importantly, the framework emphasizes the need to unlock value for all. Through the adoption of existing technologies that abate carbon and deliver a net benefit to consumers, while creating value for the economy and communities.
Schneider Electric has been on its own sustainability journey, paving the way as an Impact company for the past 20 years, and believes that accelerating action against a backdrop of high and volatile energy prices, requires a shift in strategy. In addition to investment to increase renewable energy capacity, creating demand for clean energy via a consumer-driven transition is now essential.
In line with this approach, Schneider Electric is also announcing the creation of 2,500 green jobs worldwide to aid the acceleration of climate action across all facets of the economy. The jobs, primarily field services roles, will focus on helping Schneider’s customers digitize and decarbonize facilities, modernizing assets by promoting a sustainable and circular economy approach and providing advice on sustainability strategies.
“Investment in renewable energy must continue apace, but every energy transition in history has been driven by market demand. Shifting to a consumer-centric, demand-led investment approach will not only deliver decarbonization at scale, but will also achieve more encouraging outcomes than current modelling suggests,” – said Jean-Pascal Tricoire, Schneider Electric’s Chairman & CEO. "Consumers lead the change. This means demand leads the change. Disrupting demand with new technology and bringing benefits to the user must be the priority."
Schneider Electric’s representatives at DAVOS 2022
In his role as co-chair of the Forum’s Net Zero Carbon Cities initiative, Jean-Pascal Tricoire will call for a change in investment priorities. This requires moving from cost to value-centric investment criteria, expanding the current focus on infrastructure to investments that fuel demand and moving from over-indexing on hardware to software-enabled sustainable solutions. He will also discuss the need for greater collaboration to move to a low-carbon economy faster.
Luc Remont, Schneider Electric’s Executive Vice President of International Operations will talk about the importance of digital technologies in enabling the energy transition in emerging markets and major new partnerships in India, East Asia and South America to empower workforces and train more people in energy management.
Barbara Frei, Schneider Electric’s Executive Vice President of Industrial Automation will discuss the repercussions of a switch to an increasingly supply-led economy and how transformation from a linear to a circular supply chain model is essential for a sustainable future. She will be talking about the struggles companies face moving from resource intensive production and consumption to low carbon, efficient processes and the role of technologies, collaboration platforms and interoperability in solving these challenges. She will also be discussing the need for manufacturers to refocus their digital transformation journeys towards workforce engagement to attract talent and create safer working environments. She’ll be sharing her perspectives on how augmented automation can empower workforces and improve productivity.
Peter Weckesser, Schneider Electric’s Executive Vice President and Chief Digital Officer will provide perspectives on the transformative role of data and artificial intelligence in advancing business strategies that simultaneously address the biggest challenges ahead of industries: resilience and decarbonization. He will also be discussing the opportunities and values that can be captured today through digital ecosystem collaboration and deployment of innovative technologies at scale – and across the enterprise.
See below details of public sessions featuring Schneider Electric spokespeople:
Topic: The Augmented Manufacturing Experience
Speaker: Barbara Frei, EVP Industrial Automation
Date: Monday 23rd May
Time: 8:15 – 9:00 CET
Topic: Unlocking Digital Innovation for Net Zero
Speaker: Jean-Pascal Tricoire, Chairman & CEO
Date: Tuesday 24th May
Time: 9:30 – 10:30 CET
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights.
Hashtags: #InfrustructureOfTheFuture #Sustainability #ClimateChange #Electricity4.0 #Industry4.0
1 WGBC “Beyond the Business Case”
Schneider Electric Media Relations – Thomas Eck, (919) 266-8623; This email address is being protected from spambots. You need JavaScript enabled to view it.
Airgas is unveiling a new inspiring and possibility-driven theme line as part of a communication and marketing campaign. The claim conveys how the company helps customers and associates fill their own potential as they create, build, care, serve and sustain.
RADNOR, Pa.--(BUSINESS WIRE)--#fillyourpotential--Through the launch of its new campaign embodied in the theme line “Fill Your Potential.™”, Airgas plans to enhance its brand, inspire customers and associates, attract new customers and build brand loyalty. The phrase captures Airgas’ unique promise and is empowered by the voices of both customers and Airgas associates. The claim aims to emphasize how Airgas, through its employees, is striving to accompany its customers on delivering their full potential may it be through gases, welding or safety products they use.
Launched internally first to associates in March, the external launch taking place throughout 2022 includes a variety of new corporate and marketing collateral such as a video, truck branding, facility materials, promotional items and Airgas.com.
As Airgas, an Air Liquide company, embarks on the launch of the new Air Liquide ADVANCE strategic plan, the company is more innovative, adaptable and focused than ever on the potential it enables to customers through the gases, supplies and expertise it delivers.
Jay Worley, Chief Operating Officer, commented: “Airgas associates thrive on enabling our customers to reach their competitive best, from daily reliability to ambitious transformations. Our new theme line, Fill Your Potential.™, represents our commitment and mobilization to journey with customers in pursuit of value creation, while together embracing the promise of a sustainable and prosperous future.”
Airgas, Inc.
Airgas®, an Air Liquide company, is a leading U.S. supplier of industrial, medical and specialty gases, as well as hardgoods and related products; one of the largest U.S. suppliers of safety products; and a leading U.S. supplier of ammonia products and process chemicals.
Airgas helps its more than 1 million customers advance their business performance and reach their full potential with reliable products, services and expertise used to create, build, care, serve and sustain. With nearly 18,000 associates, over 1,400 locations, a robust eBusiness platform, and Airgas Total Access® telesales channel, Airgas is ready to help customers fill their potential, every day.
As an Air Liquide company, a world leader in gases, technology and services for Industry and Health, Airgas offers customers an unrivaled global footprint and industry-leading technology and innovations.
For more information, please visit www.airgas.com
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.
Airgas Communications
Kim Menard
267-432-7146
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Rock Hill Capital (“Rock Hill”) is pleased to announce that its portfolio company, Park Energy Services, LLC (“Park”), led by President and CEO, Tim Knox, has completed its second acquisition in less than a year with the purchase of substantially all the assets of San Antonio, TX, based Great Texas Compression, LLC (“Great Texas”).
The transaction further enhances Park’s strategic position in South Texas and provides additional service density throughout Park’s existing operating footprint in the region. Furthermore, the transaction expands Park’s diverse customer base and enhances its service capabilities through the addition of exceptional Great Texas personnel.
The transaction marks the continued execution of Park’s strategy to become a leading provider of compression for well head, gas-lift, vapor recovery, flash gas and other production applications, supporting its customers in the reduction of emissions through the capture of hydrocarbon vapors that would otherwise be vented or flared. The transaction with Great Texas aligns with Park’s objectives of continued growth through targeted and purposeful acquisitions conducted at appropriate purchase multiples with attractive financing terms.
Debt financing for the transaction was secured under an expanded senior credit facility provided by Regions Bank, UMB Bank N.A., Century Bank, and Third Coast Bank SSB. Legal representation for the transaction was provided by Winston & Strawn, LLP.
About Park Energy Services
Park Energy Services (www.parkenergyservices.com), headquartered in Oklahoma City, Oklahoma, operates a fleet of over 1700 compressor units in major producing basins of Texas, Oklahoma, Pennsylvania, Ohio, New Mexico and Colorado.
About Rock Hill Capital
Rock Hill Capital, founded in 2007 and headquartered in Houston, Texas, is a private equity firm that invests in small-to-lower middle market companies located in the South and Southeast United States. Rock Hill is currently investing out of its third committed capital fund focusing on companies in the industrial products and services industries. Take a deeper look at Rock Hill Capital and what makes our investments successful by visiting www.rockhillcap.com.
Rock Hill Capital
Ryan Shelton
713.715.7512
This email address is being protected from spambots. You need JavaScript enabled to view it.
Park Energy Services
Tim Knox
432.238.5150
This email address is being protected from spambots. You need JavaScript enabled to view it.
Pilot project’s execution demonstrates viability of low-temperature geothermal energy as an immediate solution for generating clean, lower-carbon electricity
DENVER--(BUSINESS WIRE)--Transitional Energy — a majority women-owned, Indigenous-led geothermal technology and development company that turns oil and gas waste streams into renewable energy — today announced it has successfully generated electricity at an oil field in Nevada. Transitional Energy raised 100 percent of the capital for the initial pilot, making it the first company to produce geothermal energy at an oil site using private funding. The field where the pilot is taking place will be part of a larger project later this year using Transitional Energy technology and funded by a U.S. Department of Energy Geothermal Technologies Office Wells of Opportunity grant.
Leveraging the team’s oil and gas heritage, proprietary technology and innovative processes, Transitional Energy generated the renewable electricity from an oil and gas well operated by Grant Canyon Oil and Gas LLC. The energy is used to power a portion of Grant Canyon’s operations at the oil field, reducing total greenhouse gas emissions from their operations.
“It’s exciting to see the success of this pilot project, as it opens up a world of untapped possibility for geothermal energy development in the United States,” said Salina Derichsweiler, Co-Founder and Chief Executive Officer of Transitional Energy. “Just as the world is on a journey to a cleaner energy future, so are we. Transitional Energy’s initial goal with this pilot was to prove we could produce geothermal energy at an oil and gas site, and we’ve accomplished that. Next up is to optimize our operations for even greater results and scale them to provide an immediate solution that helps bridge the gap between fossil fuels and intermittent renewable energy.”
In addition to working closely with Grant Canyon Oil and Gas, Transitional Energy is collaborating with ElectraTherm, an Atlanta-based global leader in engineering low temperature waste heat recovery solutions.
“We are thrilled with the results of this pilot project and happy to see the success of our geothermal equipment,” said Matt Lish, Managing Director at ElectraTherm. “We look forward to working with Transitional Energy to bring this technology to the oil and gas industry and further our shared goal of reducing carbon emissions and increasing availability of baseload, renewable energy.”
Transitional Energy’s approach permits the company to develop geothermal energy in lower-temperature zones, unlike traditional geothermal development, which is restricted to hot spots in the Western U.S. The low-temperature capability, combined with its low-capital approach by leveraging completed, operational and abandoned oil and gas wells to create a hybrid energy source, makes deployment opportunities more cost-effective and abundant than traditional geothermal energy development, while helping oil and gas operators reduce their carbon footprint and generating renewable baseload energy for the grid.
Transitional Energy’s mission is to provide affordable and abundant energy that bridges the gap between fossil fuels and renewable energy. It has identified more than 1 million wellbores in the United States that have geothermal development capabilities.
About Transitional Energy
Transitional Energy, based in Denver, is the first majority women-owned and Indigenous-led geothermal energy developer in the United States, turning oil and gas waste streams into baseload renewable electricity. Transitional Energy’s unique processes and proprietary technology will permit the company to develop geothermal energy in lower-temperature zones. Transitional Energy leverages a combined 100 years of experience in oil and gas and a deep understanding of subsurface geology to integrate into existing wellpad operations while providing a service that allows operators to produce a hybrid energy source that reduces their carbon footprint and generates renewable energy for the grid. Learn more at www.transitionalenergy.us
About ElectraTherm
Headquartered in Flowery Branch, Georgia, ElectraTherm provides industry-leading heat recovery solutions utilizing the Organic Rankine Cycle (ORC) along with proprietary technologies to convert sources of low temperature heat – such as waste heat and micro geothermal – into clean electricity, ready immediately. Our simple and effective solutions use hot water as fuel – increasing energy efficiency, reducing operating costs, and decreasing overall emissions – with no additional fuel consumption or emissions. Our commercially proven low temperature ORC systems utilize heat sources as low as 70°C to generate up to 150 kWe of clean electricity.
Supported by BITZER, the world’s largest independent manufacturer of refrigeration compressors, ElectraTherm is able to continuously develop industry-leading ORC heat recovery solutions such as our heat to power system, the Power+ Generator, and our net-zero cooling to power system, the Active Cooler. This partnership provides ElectraTherm the vast resources needed to provide world-class services and global support. Having shipped over 100 ORC systems to over 13 countries (with dozens more scheduled) achieving over 2,000,000 hours of operation, we are a global leader in low temperature waste heat recovery.
Shannon Hughes
Linhart Public Relations
303-951-2560
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $4,277,812.64 or $0.091781 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of March 2022. The distribution is payable June 14, 2022, to the Unit Holders of record as of May 31, 2022.
For the production month of March 2022, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, “Hilcorp”), reported to the Trust net profits of $5,822,966 ($4,367,225 net royalty amount to the Trust).
Hilcorp reported $9,268,103 of total revenue from the Subject Interests for the production month of March 2022. For the Subject Interests, Hilcorp reported $3,445,137 of production costs for the production month of March 2022, consisting of $2,206,580 of lease operating expense, $1,222,198 of severance taxes and $16,359 of capital costs.
Based upon the information that Hilcorp provided to the Trust, gas volumes for the Subject Interests for March 2022 totaled 2,168,531 Mcf (2,409,479 MMBtu), as compared to 1,806,354 Mcf (2,007,060 MMBtu) for February 2022. Production volumes were higher in March primarily due to three additional days of production in March 2022 compared to February 2022. Dividing revenues by production volume yielded an average gas price for March 2022 of $4.15 per Mcf ($3.73 per MMBtu), as compared to an average gas price for February 2022 of $4.70 per Mcf ($4.23 per MMBtu).
Production from the Subject Interests continues to be gathered, processed, and sold under market sensitive and customary agreements, as recommended for approval by the Trust’s Consultant. The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit payments made by Hilcorp to the Trust, inclusive of sales revenues, production costs, capital expenditures, adjustments, actualizations, and recoupments. The Trust’s auditing process has also included detailed analysis of Hilcorp’s pricing and rates charged. As previously disclosed in the Trust’s filings, these revenues and costs (along with all costs) are the subject of the Trust’s ongoing comprehensive audit process by our professional consultants and outside counsel to ensure full compliance with all the underlying operative Trust agreements and evaluating all available potential remedies in the event there is evidence of non-compliance.
Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.
San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
James R. Wilharm, Senior Vice President and Director of Trust Real Estate Services
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
Chrissey Hayes is recognized for leading several HR initiatives contributing to substantially improved employee satisfaction
OREM, Utah & HOUSTON--(BUSINESS WIRE)--#30WomenToWatch--Avetta, the leading provider of supply chain risk management (SCRM) software, is proud to announce that its vice president of talent development, Chrissey Hayes, is named a Utah Business Magazine 2022 30 Women to Watch honoree.
Each year, Utah Business celebrates 30 exemplary women leading the way in business, law, education and more.
Hayes is being honored for shifting the culture at Avetta to one of coaching, mentoring and leadership to develop talent from within. She has implemented initiatives like formal talent development, leadership training, talent review processes and more. Her efforts have helped increase employee satisfaction by eight percentage points.
“Chrissey Hayes has strengthened the company culture at Avetta by encouraging critical conversations, at all levels in the organization, about personal development and offering education and tools on the backend to support those goals,” said Aaron Wattam, chief human resources officer at Avetta. “She helps Avetta employees succeed by inspiring, uniting and driving them toward a common purpose.”
Hayes’ investment in Avetta employees is paying off. Employee satisfaction surveys indicate that satisfaction at Avetta increased eight total percentage points on questions pertaining to career development/advancement. For reference, a two-point increase is a marked improvement, so an eight-point improvement is exceptional and uncommon. Avetta had 110 in-line or new position promotions across the organization in 2021, up from less than 30 the previous year.
Hayes also secured a partnership with Avetta and The Five Network—a digital platform that connects talented and diverse kids from under-resourced communities to Avetta employees for mentoring and networking opportunities.
In her free time, she helps run a 501(c) nonprofit called Kids Heroes Foundation—a group of about 30 volunteers who bring superheroes to life for children in need. The foundation partners with organizations such as Make-A-Wish Foundation, Primary Children's Hospital and more to help the healing process for children facing long-term illness or other traumatic circumstances.
Hayes was honored at the Utah Business event today. A complete list of 30 Women to Watch can be found here.
About Avetta
The Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For the hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.
For suppliers in our network, our audit and verification services help lower their safety incidents rate by 29%. As a result, nearly 50% of members find additional job opportunities within the first year of joining. In addition, our suppliers receive privileged access to the Avetta Marketplace, where dozens of partners offer special discounts for business services like insurance and work gear. Avetta serves 500+ enterprise companies and 125,000+ suppliers across 120+ countries.
Visit https://www.avetta.com/ for more information.
SnappConner PR
Mark Fredrickson, +1 801-806-0161
This email address is being protected from spambots. You need JavaScript enabled to view it.
Avetta
McKenzie Jo Asalone, +1 360-903-9766
This email address is being protected from spambots. You need JavaScript enabled to view it.
MACON, Ga.--(BUSINESS WIRE)--Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and cleaner-emission school buses, announced today its participation in two upcoming investor conferences. The company will be participating in the 19th Annual Craig-Hallum Institutional Investor Conference, held virtually on June 1, 2022 and in the UBS Global Industrials & Transportation Conference held in-person in New York City on June 8, 2022.
To inquire about meeting availability and scheduling, please reach out to:
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. Blue Bird buses carry the most precious cargo in the world – the majority of 25 million children twice a day – making us the most trusted brand in the industry. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com. For Blue Bird's line of emission-free electric buses, visit www.bluebirdelectricbus.com.
Mark Benfield
Blue Bird Corporation
(478) 822-2315
This email address is being protected from spambots. You need JavaScript enabled to view it.
Research and development would advance the small modular reactors, a proposed sustainable energy solution
CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Penn State and Westinghouse announced that they will partner on research and development efforts focused on exploring and applying nuclear engineering and science innovations to societal needs. They will also begin discussions about siting Westinghouse’s eVinci™ micro-reactor, a next-generation, small modular reactor designed to address sustainable power needs from immediate use in large communities to decentralized remote applications, at University Park. They signed a memorandum of understanding detailing the partnership at Westinghouse headquarters in Cranberry yesterday (May 18).
“Penn State and Westinghouse share a common vision for the potential of micro reactors to revolutionize industry and energy globally,” said project co-lead Jean Paul Allain, head of the Ken and Mary Alice Lindquist Department of Nuclear Engineering at Penn State. He also holds the Lloyd and Dorothy Foehr Huck Chair in Plasma Medicine in the Huck Institutes of the Life Sciences and serves as a co-hire faculty in the Institute for Computational and Data Sciences. “Our ultimate goal is to drastically reduce carbon-free energy costs in difficult to decarbonize sectors such as industrial manufacturing and transportation, leading a truly transformative change for how and where we power society.”
The eVinci micro-reactor can produce sustainable carbon-free energy and integrate with other renewable power sources, such as solar or wind power. It is also small enough for factory fabrication and truck transportation, meaning it can be built and implemented to support communities without access to reliable energy due to location or natural disaster. Its compact size minimizes the physical footprint and allows for construction and installation in as few as 30 days.
“Our eVinci micro-reactor is a game-changing nuclear battery that can play a critical role in reducing the carbon intensity of the global energy sector,” said Mike Shaqqo, senior vice president of Advanced Reactors at Westinghouse. “Westinghouse and Penn State share a long history of leadership in the nuclear industry and will build on that legacy through this program.”
The collaboration plans build on Penn State’s established nuclear capabilities — such as the Breazeale Nuclear Reactor, the nation’s longest continuously operating research reactor, as well as multi- and interdisciplinary experts in power conversion systems, thermal hydraulics, detection and safeguards, high-temperature nuclear materials, advanced manufacturing, nuclear energy policy, nuclear safety, social adoption of technology and more.
“Together, our aim is to support basic and translational research development to establish a micro nuclear reactor prototype platform to drive technology advances and support wide adoption and deployment of advanced nuclear technologies,” Allain said.
In addition to advancing the eVinci micro reactor for broad applications, the team plans to explore how the platform can contribute to displacing carbon-generating energy sources at Penn State. The Penn State team members, including Azaree Lintereur, assistant professor of nuclear engineering; Amanda Johnsen, assistant professor of nuclear engineering; Elia Merzari, associate professor of nuclear engineering; Saya Lee, assistant professor of nuclear engineering, and William Walters, assistant professor of nuclear engineering, also plan to use the project to drive educational and public outreach efforts.
“This MOU provides a foundation for a sustaining and engaging partnership between Penn State and Westinghouse, and I am excited to see the developments that will result,” said Lora Weiss, senior vice president for research at Penn State, who signed the MOU on behalf of the University.
In addition to Weiss, Allain, Lee and Merzari, Geanie Umberger, associate vice president for research and director of industry research collaborations at Penn State, represented the University at the signing event.
“Such a platform for research and development would help establish a clean technology corridor in Pennsylvania and beyond, as well as help strategically position our teams to partner with experts across the University in multi- and interdisciplinary scientific fields, as well as in social sciences, business and law on focused projects supporting micro nuclear reactor study and deployment,” Umberger said.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
About The Pennsylvania State University
Founded in 1855, Penn State is a world-class public research university with a broad mission of teaching, research and public service. Penn State collaborates with industrial, educational, governmental and agricultural partners to create, disseminate, integrate and apply knowledge that is valuable to society. In each of the last four years, total research expenditures have topped $1 billion, placing the University among the nation’s leaders. Penn State also contributes more than $11 billion annually to Pennsylvania’s economy. As part of its Invent Penn State initiative, the University has funded 21 innovation hubs, designed to bolster entrepreneurship and economic development in communities surrounding its campuses across Pennsylvania. The Penn State Alumni Association is the world’s largest organization of its kind with more than 171,000 dues-paying members. For more information, visit www.psu.edu and follow Penn State on Facebook, Instagram, LinkedIn and Twitter.
Cathy Mann,
This email address is being protected from spambots. You need JavaScript enabled to view it.
RYE BROOK, N.Y.--(BUSINESS WIRE)--#LetsSolveWater--Global water technology leader Xylem (NYSE:XYL) was named “Net Zero Carbon Champion” at the 2022 Global Water Awards, recognizing the Company’s work to accelerate the decarbonization of the water sector. In addition to its own commitments to achieve net-zero carbon emissions, Xylem is partnering with utilities, businesses and water managers around the world to help reduce their carbon footprint.
Xylem provides advanced solutions that optimize energy consumption across water networks. The Company’s high-efficiency technologies – such as the Flygt Bibo Alpha pumping system, which reduces energy consumption by up to 60 percent – have helped customers reduce their carbon footprint by 0.7 million metric tons of CO2, the equivalent to keeping 150,000 cars off the road for a year.
“The water sector is uniquely positioned to make a meaningful contribution to containing climate change,” said Austin Alexander, Vice President, Sustainability and Social Impact at Xylem. “We could become one of the fastest sectors to decarbonize. This award belongs to our 17,000-strong team at Xylem, and to our customers and partners, who are all making sure we’re part of the solution.”
The Global Water Award recognizes the work by Xylem and its utility partners to deploy high-efficiency technologies and approaches to reduce greenhouse gas emissions and make progress toward a zero-carbon future. For example, a wastewater treatment plant in Cuxhaven, Germany has cut aeration energy use by 30 percent by implementing artificial intelligence in its treatment system.
Last year, Xylem formalized its commitment to achieve net zero carbon emissions across its value chain before 2050.1 In addition to driving progress through its technology impacts, the Company is working to build awareness of the net-zero opportunity through contributions like its recent paper “Water Utilities: Moving Fast Toward A Zero-Carbon Future.” In 2021, it also partnered with other industry leaders to engage stakeholders to join the sector’s “Race to Zero.”
The Global Water Awards, an initiative of Global Water Intelligence, recognizes the industry’s greatest achievements, rewarding initiatives and companies in the water, wastewater and desalination sectors that are moving the industry forward with improved operating performance, innovative technology adoption and sustainable financial models.
About Xylem
Xylem (XYL) is a leading global water technology company committed to solving critical water and infrastructure challenges with innovation. Our 17,000 diverse employees delivered revenue of $5.2 billion in 2021. We are creating a more sustainable world by enabling our customers to optimize water and resource management, and helping communities in more than 150 countries become water-secure. Join us at www.xylem.com.
The statements included in this press release regarding future performance and results, expectations, goals, plans, strategies, priorities, commitments, and other statements, including those related to social, environmental and sustainability-related matters, that are not historical facts are forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking and other statements in this document regarding our environmental and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or are required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking social, environmental and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Forward-looking statements are based upon current beliefs, expectations, and assumptions and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual results to differ materially from the forward-looking statements. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our risk factors, as they may be amended from time to time, set forth in our filings with the SEC, including in “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Readers of this press release are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
1 In September 2021, Xylem announced commitments to Science-Based Target aligned to a 1.5oC reduction by 2030 (Scope 1, 2 and 3) and Net Zero emissions (Scope 1, 2 and 3) before 2050.
Houston Spencer
+1 (914) 240-3046
This email address is being protected from spambots. You need JavaScript enabled to view it.
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today it signed an agreement with subsidiaries of BKV Corporation for the sale of operated and non-operated Barnett Shale gas assets in Texas for $750 million with additional payments contingent on future natural gas prices.
“We are focused on delivering the most competitive returns to our shareholders by developing opportunities with the lowest cost of supply and further strengthening our industry-leading upstream position,” said Liam Mallon, president of ExxonMobil Upstream Company.
“Our subsidiaries have operated in the Barnett Shale safely and responsibly for nearly two decades, and we are encouraged by BKV’s plans to develop the resource in line with its stated pathway to net zero greenhouse gas emissions by 2025.”
ExxonMobil removed the Barnett Shale gas assets operated by its subsidiaries XTO Energy Inc. and Barnett Gathering LLC from its development plan in 2020.
As part of the agreement, all employees with ExxonMobil subsidiaries in the Barnett Shale will receive full employment offers with BKV. The sale is expected to close in the second quarter of 2022.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
Follow us on Twitter and LinkedIn.
Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. Actual future results, including closing of agreed divestments and realization of payments; performance of and results from other investments; and other business plans, could vary significantly depending on a number of factors including the supply and demand for oil, gas, and petroleum products and other market factors affecting the oil, gas, and petrochemical industries; the severity, length and ultimate impact of COVID-19 on people and economies and actions of governments in response to the pandemic; obtaining necessary approvals and consents and satisfaction of other conditions precedent contained in the applicable agreements; satisfaction of conditions related to contingent payments; the development and competitiveness of alternative technologies; actions of competitors and commercial counterparties; political and regulatory developments including environmental regulations; and other factors discussed in this release and under Item 1A Risk Factors in ExxonMobil’s most recent annual report on Form 10-K and under the heading “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as ExxonMobil, the corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
ExxonMobil Media Relations
972-940-6007
One day immersive summit will include speakers from the US Department of Energy, Rheaply, UL, Colorado Clean Energy Fund, and MIT amongst other innovators that are helping to accelerate decarbonization in natural resources, transportation, and manufacturing
DENVER--(BUSINESS WIRE)--Nomadic Venture Partners (NVP), a climate tech venture capital firm that invests in digital solutions that decarbonize incumbent industries, released the full agenda for its upcoming Industrial Climate Tech Summit. The event will take place Wednesday, June 1st from 8:00 a.m. MDT to 5:00 p.m. MDT at Colorado School of Mines in Golden, CO. The objective of this event is to further solidify the Midwest and Colorado as a leading climate tech ecosystem that drives towards a net zero future.
With the industrial sector contributing to 30% of greenhouse gas emissions and its expected growth, collaboration between business leaders, innovators, policymakers and others in the ecosystem is essential to achieve net zero in the industrial sector. Investors, policymakers, corporations, incubators, and entrepreneurs who are developing innovative solutions for mining, manufacturing, and transportation industries will be brought together. The Summit will feature discussions on how the industrial sectors can contribute to a sustainable world from industry leaders, including Sergey Paltsev, Deputy Director of the MIT Joint Program on the Science and Policy of Global Change, Garry Cooper, CEO and Co-Founder of Rheaply, Johannah Schmidtke, Senior Advisor (CONTR) to the Loan Programs Office at the US Department of Energy, and Morgan Bazilian, Director of the Payne Institute and a Professor of Public Policy at the Colorado School of Mines.
The full agenda may be accessed at: nomadicvp.com/summit
According to the International Energy Agency, the concerted effort to reach the goals of the Paris Agreement would mean quadrupling mineral requirements for clean energy technologies by 2040. Achieving net-zero globally by 2050 would require six times more critical mineral inputs in 2040 than today. The transition to clean energy is going to be difficult to achieve without the metals and mining, and manufacturing sectors playing even more of a sustainable role. By joining with the Colorado School of Mines, a public research university with expertise in science and engineering and an emphasis on developing entrepreneurship and innovation, Managing Partners of NVP, Batchimeg Ganbaatar and Tem Tumurbat, have aligned their missions to create sustainable solutions in these hard-to-abate sectors.
“There is a lack of industrial-focused climate tech events with a mission to help decarbonize metals and mining, manufacturing, and heavy duty transportation, and we want to further develop the ecosystem around industrial climate tech,” said Tem Tumurbat, Managing Partner of Nomadic Venture Partners. “As a very proud Colorado School of Mines alum, I’m excited to return to the institution that clearly values innovative solutions for industrial climate tech and catalyzes conversations so that more companies may meet their net zero goals.”
“The Office of Entrepreneurship and Innovation at Colorado School of Mines is happy to co-host the Industrial Climate Technology Summit here in Golden,” said Werner G. Kuhr, Ph.D., Director, Office for Entrepreneurship and Innovation at Colorado School of Mines. “We are excited to focus attention on the opportunity to innovate and invest in Climate tech initiatives and welcome the opportunity to work with Nomadic Venture Partners to create a vibrant ecosystem in the development of sustainable technology. We see tremendous interest in this sector from our students, faculty and alumni and are excited to support their efforts in commercialization of new technologies.”
While industrial sectors generate the largest portion of global emissions, they receive the least amount of climate tech venture capital investment. NVP is working to generate more investment into industrial climate tech startups. To register for the Industrial Climate Tech Summit, visit eventbrite.com/e/industrial-climate-tech-summit-tickets.
About Nomadic Venture Partners
Nomadic Venture Partners is a climate tech venture capital firm investing in pre-seed to series A companies decarbonizing natural resources, manufacturing, and transportation sectors. NVP is a midwest, minority-owned firm targeting digital and light hardware solutions, accelerating companies to achieve their net zero targets. For more information about NVP, visit nomadicvp.com.
Twitter: https://twitter.com/nomadicvp
LinkedIn: https://www.linkedin.com/company/nomadicvp/
Amy Geldean
3Points Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
TAOS, N.M.--(BUSINESS WIRE)--Kit Carson Electric Cooperative (KCEC) and Guzman Energy have partnered for the sixth year in a row to provide scholarships to selected northern New Mexico students to help them successfully transition to their continued education after high school graduation. This year, 20 students will each receive a $1,500 scholarship.
Since 1997, the KCEC Foundation has awarded more than $600,000 in scholarships to students throughout its territory, giving them the financial support to help them successfully transition to their postsecondary education.
Guzman Energy, the cooperative’s wholesale power provider since 2017, has supported the scholarship program each year of the partnership, contributing $121,000 to date.
“Taking the next step toward continued education is a big transition, and we are honored to help these students get started on the right path,” said Jeffrey M. Heit, Principal and Managing Director, Guzman Energy. “Education is so important in building a strong community, and we are committed to helping the communities served by Kit Carson continue to thrive.”
“We are grateful for Guzman Energy’s support of our scholarship program to help these young adults succeed as they continue their education,” said Luis A. Reyes, Jr., Kit Carson CEO. “They have been a true partner not only for us, but for our community overall.”
Guzman Energy has helped KCEC move closer to its goals of becoming one of the cleanest, most cost-effective energy cooperatives in America, and providing 100% daytime solar energy. Working with Guzman Energy, KCEC has deployed a solar plan to build arrays and battery storage within the co-op’s territory, not only helping to meet the daytime solar goal, but also creating local jobs in the community, as well as stabilizing energy costs for KCEC members.
About Kit Carson Electric Cooperative
Formed in 1944, Kit Carson is a member owned electric distribution cooperative in northern New Mexico and is the second largest cooperative in the state. Kit Carson is one of 16 electric cooperatives that serve rural New Mexico communities, serving nearly 30,000 members in Taos, Colfax and Rio Arriba counties. To learn more about Kit Carson, visit www.kitcarson.com.
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies, and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Visit www.guzmanenergy.com.
Jill Petersen
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.