Business Wire News

DUBLIN--(BUSINESS WIRE)--The "Photovoltaic Solar Power: United States" report has been added to ResearchAndMarkets.com's offering.


This report forecasts for 2020 to 2024 US utility-scale photovoltaic (PV) generating capacity and generating capacity net additions in watts. Generating capacity and generating capacity net additions are segmented by technology in terms of crystalline silicon (c-Si), and thin-film and other technologies.

To illustrate historical trends, total generating capacity, generating capacity net additions, and the various segments are provided in annual series from 2009 to 2019.

Residential and other non-utility-scale markets are excluded from the scope of this report. See Solar Roofing in the US for those products that serve as a structure's primary roofing material while also producing solar-generated electricity.

Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.

Sources

Photovoltaic Solar Power: United States (FF80042) represents the synthesis and analysis of data from various secondary, macroeconomic, and demographic sources, such as:

  • firms participating in the industry, and their suppliers and customers
  • government/public agencies
  • intergovernmental organizations
  • trade associations and their publications
  • the business and trade press
  • indicator forecasts
  • the findings of other reports and studies

Key Topics Covered:

1. Highlights

2. Market Environment

  • Historical Trends
  • Key Economic Indicators
  • Imports
  • Environmental & Regulatory Factors

3. Segmentation & Forecasts

  • Generating Capacity Net Additions
  • Crystalline Silicon
  • Thin Film & Other Technologies

4. Industry Structure

  • Industry Characteristics
  • Market Leaders
  • First Solar
  • Hanwha Q CELLS
  • LONGi Group

5. About this Report

For more information about this report visit https://www.researchandmarkets.com/r/wes2gd


Contacts

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

SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) announced today that Brad Barron, President and Chief Executive Officer; Tom Shoaf, Executive Vice President and Chief Financial Officer; Danny Oliver, Executive Vice President of Business Development & Engineering; Amy Perry, Executive Vice President of Strategic Development; Pam Schmidt, Vice President of Investor Relations, and other members of management will participate in virtual meetings with members of the investment community at the 2021 Energy Infrastructure Council Investor Conference on Wednesday, May 19, 2021 and Thursday, May 20, 2021. The materials to be discussed in the meetings will be available on the partnership’s website at 10:00 a.m. Central Time, Wednesday, May 19, 2021.


NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 73 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels and specialty liquids. The partnership’s combined system has approximately 72 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and our Sustainability page at www.nustarenergy.com/Sustainability.


Contacts

NuStar Energy, L.P., San Antonio
Investors, Tim Delagarza, Manager, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314
website: http://www.nustarenergy.com

Gautam Borooah Hired as Chief Marketing Officer, Regional General Manager Florida; Ifen Carlson Named Chief Strategy Officer

PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene, the nation’s leading Property Assessed Clean Energy (PACE) provider, today announced that it has hired Gautam Borooah as Chief Marketing Officer and Regional General Manager for Florida and named Ifen Carlson as Chief Strategy Officer, a new position at the Company. These appointments will accelerate growth and deliver on the promise of providing accessible and affordable property improvement financing for home and business owners in communities across the U.S.



Mr. Borooah will bring his extensive experience in marketing and consumer finance to lead Marketing and Ygrene’s Florida Residential business. Gautam joins Ygrene after 16 years at Synchrony Financial/GE Capital, where he led award winning programs for multiple high-value partners like Sam’s Club and HBC (Canada). Gautam also led an $11 billion portfolio of middle market clients in the home improvement, HVAC, home furnishing, power sports, luxury, and other lifestyle industries. Gautam was recruited to GE Capital after 8 years in Citigroup across multiple Product Management and Marketing roles, to engineer GE’s entry into the Home Equity market.

After growing Ygrene’s direct-to-consumer, marketing analytics, and contractor co-marketing capabilities, Ms. Carlson will now be responsible for the company’s Strategic Initiatives and Analytics. Ifen will also continue to lead the California Residential business - which includes the development and launch of new products.

“It’s an exciting time to be at Ygrene. We continue to experience strong momentum in our business as we deliver on our mission to provide property owners with access to affordable financing for energy efficiency and resiliency upgrades to their most important assets -- their homes and businesses. We welcome Gautam to the Ygrene team and are confident that his experience, perspective and decades of success in building brands and fueling growth in the consumer and home finance space will make an immediate difference for our business. And we are equally excited to appoint Ifen, our former Chief Marketing Officer, to the newly created position of Chief Strategy Officer. Since joining Ygrene, Ifen has played a critical role on our Executive Management Committee, leading marketing initiatives to grow our core business, as well as tracking analytics to help strengthen our products and programs across the country,” said Jim Reinhart, CEO and President of Ygrene.

Ms. Carlson joined Ygrene in 2017 and brings a wealth of experience in marketing, financial services, and analytics. She’s held leadership roles at Arnold Advertising, Bain & Co., and HSBC. Prior to joining Ygrene, she served as the lead analytics officer at Visa for North America consumer credit and debit products. Ifen has a BS in Communication from Boston University and an MBA from Kellogg School of Management at Northwestern University.

Mr. Borooah has an MBA (Beta Gamma Sigma), with concentrations in Marketing and Finance, from the Rochester Institute of Technology and a Bachelor of Commerce, with Honors in Financial Accounting, from St. Xavier’s College in Calcutta, India.

About Ygrene

Ygrene provides access to home improvement financing to property owners seeking to make repairs or improvements – particularly when a homeowner needs it the most: furnaces in cold snaps, air conditioning during sweltering summers, and roof replacements during the rainy season. Since inception, Ygrene has created more than 45,000 jobs and created more than $5.1 billion in local economic stimulus – all without public funding– and saved property owners over $1.8 billion in insurance costs over the lifetime of their improvements. We are equally proud of our commitment to protect the environment, installing more than 114 megawatts of clean solar energy and reducing carbon emissions by more than 2.2 million metric tons, the equivalent of taking more than 478,000 cars off the road for a year.

Ygrene's award-winning PACE program, with built-in consumer protections, is delivering greater choice for home and business owners by providing accessible and affordable financing for energy efficiency, resiliency, renewables, water conservation, storm protection, and seismic upgrades. Recognized as one of the fastest-growing asset classes in the country, PACE has proven to be a successful tool for supporting public policy initiatives, all without the use of public tax dollars or credits. By providing over $2.6 billion of private capital to more than 550 local communities, Ygrene has created tens of thousands of jobs and invested millions into local economies across the U.S. Learn more at ygrene.com.

 


Contacts

Katie Russo
ThroughCo Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
501-282-5069

TULSA, Okla.--(BUSINESS WIRE)--Today, Cypress Environmental Partners, L.P., (NYSE: CELP) (“Cypress”) reported its financial results for the three months ended March 31, 2021.


HIGHLIGHTS

  • Cypress reduced debt by $20.2 million during the first quarter of 2021.
  • Net loss attributable to common unitholders of $3.7 million for the three months ended March 31, 2021.
  • Adjusted EBITDA of ($0.8 million) for the three months ended March 31, 2021.
  • Distributable cash flow (DCF) of ($3.1 million) for the three months ended March 31, 2021.
  • Our common unit and preferred unit distributions remain suspended as we focus on reducing debt.
  • Received first award for inspection services on non-energy municipal infrastructure.

FIRST QUARTER 2021 SUMMARY FINANCIAL RESULTS

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

2021

 

2020

 

 

(Unaudited)

 

 

(in thousands, except

per unit amounts)

 

 

 

 

 

 

Net loss

$

(3,147)

$

(877)

Net loss attributable to common unitholders

$

(3,686)

$

(1,822)

Net loss per limited partner unit – basic and diluted

$

(0.30)

$

(0.15)

Adjusted EBITDA (1)

$

(820)

$

2,668

Distributable cash flow (1)

$

(3,119)

$

368

 

(1) This press release includes the following financial measures not presented in accordance with U.S. generally accepted accounting principles, or GAAP: adjusted EBITDA, adjusted EBITDA attributable to limited partners, and distributable cash flow. Each such non-GAAP financial measure is defined below under “Non-GAAP Financial Information”, and each is reconciled to its most directly comparable GAAP financial measure in schedules at the end of this press release.

CEO'S PERSPECTIVE

“The operating results for the quarter were both disappointing and unacceptable. During the quarter we took additional measures to reduce our costs with an additional reduction in workforce and furloughs. The COVID-19 global pandemic has had a profound impact on our customers, and in turn us. As commodity prices have continued to improve with WTI crude oil approaching $65 per barrel, we are seeing our customers resume spending on inspection services that were deferred and we have seen some nominal growth in the number of inspectors deployed. The first and fourth quarters are typically our slower quarters each year. I continue to be proud of how our employees have handled the challenges in the field and the work from home environment. We have re-opened our regional field offices, and we are re-opening our headquarters this month,” said Peter C. Boylan III, Chairman, President, and CEO. “Our sales efforts are beginning to show some promising results with some exciting wins with new municipal (City or County) customers inspecting non-energy public assets. We made $20.2 million of payments during the quarter to reduce the balance on our revolving credit facility to $41.8 million at March 31, 2021. We are significantly restricted on our ability to make cash distributions on our common and preferred units during this renewal term. An affiliate of our general partner has graciously agreed to suspend his right to receive distributions on his preferred equity until we reduce our leverage.”

“We continue our diversification efforts to offer our inspection services to other industries, including municipal infrastructure, water, sewer, electrical transmission, bridge infrastructure, and renewables (such as wind, solar, and hydroelectric). We have begun bidding on inspection opportunities in these new markets and have won a nice multi-year new contract, and have several other bids pending. Strategically, over time we hope to have the majority of our inspection revenue coming from these new segments. We still serve less than 10% of the energy market and continue to focus on winning new customers. We also continue to make meaningful progress winning new business with public utilities that provide natural gas to consumers and businesses.”

SEGMENT UPDATE

Inspection Services

  • During the first quarter Cypress had an average headcount of 447 inspectors working throughout the United States. Although several large projects that had been previously awarded were cancelled in 2020 with the economic downturn, Cypress continues to bid and win new work. Headcount in early 2021 has remained low, as customers continue to evaluate their spending plans. The monthly average inspector headcount reached a low of 436 in January 2021 and increased to 459 in March 2021. Cypress expects to see headcount increase in the coming months.
  • Cypress continues to aggressively pursue organic business development (despite the work-from-home environment that has precluded in person meetings with customers) and has successfully been awarded some new customer contracts and has renewed existing contracts.
  • Legal expenses in the quarter were $0.6 million defending various Fair Labor Standards Act litigation matters.

Pipeline & Process Services (“PPS”)

  • Activity slowed toward the end of 2020 and continues to be slow, as many projects that began prior to the pandemic were completed earlier in 2020. The PPS segment implemented substantial salary reductions, furloughs, and reductions-in-force in the first quarter 2021. Revenues reached a low of less than $0.1 million in January and February 2021 and increased to $0.3 million in March 2021.
  • Bid activity has recently increased after a very slow start in 2021. However, the backlog remains weak.

Water & Environmental Services (“Environmental Services”)

  • Cypress’s water treatment facilities generally receive more water when its customers’ oil production increases from the completion of new oil wells in North Dakota. Fifteen drilling rigs are currently operating in North Dakota, an increase of approximately 36% compared to only eleven at the end of 2020. This compares to 53 rigs in February 2020, prior to the COVID-19 pandemic. The volume of water processed reached a low of 0.4 million barrels in February 2021 and increased to 0.5 million barrels in March 2021.
  • The pending Dakota Access Pipeline decision in a Federal lawsuit remains a major overhang in North Dakota.
  • Several North Dakota customers have recently divested their assets to new buyers that may have a stronger interest in expanding their production.

COMMON UNIT & PREFERRED UNIT DISTRIBUTIONS

In July 2020, Cypress announced that it had temporarily suspended common unit distributions. Cypress’s credit facility, as amended in March 2021, contains significant restrictions on the payment of distributions. As a result, Cypress does not expect to pay significant distributions in the near term; instead, Cypress expects to continue to use available cash to pay down debt and for working capital needs. An affiliate of the General Partner of Cypress also agreed to suspend the distribution payment to which he is entitled on his preferred units.

FIRST QUARTER 2021 OPERATING RESULTS BY BUSINESS SEGMENT

Inspection Services

The Inspection Services segment’s results for the three months ended March 31, 2021 and 2020 were:

  • Revenue - $25.5 million and $63.9 million, respectively, a decrease of 60%.
  • Gross Margin - $2.6 million and $6.4 million, respectively, a decrease of 59%.

Pipeline & Process Services (“PPS”)

The PPS segment’s results for the three months ended March 31, 2021 and 2020 were:

  • Revenue - $0.3 million and $2.9 million, respectively, a decrease of 89%.
  • Gross Margin – ($0.5 million) and $0.6 million, respectively, a decrease of 189%.

Water & Environmental Services (“Environmental Services”)

The Environmental Services segment’s results for the three months ended March 31, 2021 and 2020 were:

  • Revenue - $1.2 million and $1.7 million, respectively, a decrease of 30%.
  • Gross Margin - $0.8 million and $1.0 million, respectively, a decrease of 25%.

CAPITALIZATION, LIQUIDITY, AND FINANCING

Cypress had outstanding borrowings of $41.8 million on its credit facility and cash and cash equivalents of $5.3 million at March 31, 2021. In March 2021, Cypress reached agreement with the lenders to modify and extend the maturity of the credit agreement to May 31, 2022. The total capacity on the amended credit facility is $75.0 million. The amendment increased the allowable gross leverage ratio to 6.0x at March 31, 2021, 5.3x at June 30, 2021, and 4.5x at September 30, 2021. The maximum leverage ratio returns to 4.0x at December 31, 2021. Cypress had a gross leverage ratio of 5.2x at March 31, 2021.

CAPITAL EXPENDITURES

During the quarter, Cypress had $0.1 million in maintenance capital expenditures and no expansion capital expenditures, which are reflective of an attractive business model that requires minimal capital expenditures.

QUARTERLY REPORT

Cypress filed its quarterly report on Form 10-Q for the three months ended March 31, 2021 with the Securities and Exchange Commission today. Cypress will also post a copy of the Form 10-Q on its website at www.cypressenvironmental.biz.

NON-GAAP FINANCIAL INFORMATION

This press release and the accompanying financial schedules include the following non-GAAP financial measures: adjusted EBITDA, adjusted EBITDA attributable to limited partners, and distributable cash flow. The accompanying schedules provide reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures. Cypress's non-GAAP financial measures should not be considered in isolation or as an alternative to its financial measures presented in accordance with GAAP, including revenues, net income or loss attributable to limited partners, net cash provided by or used in operating activities, or any other measure of liquidity or financial performance presented in accordance with GAAP as a measure of operating performance, liquidity, or ability to service debt obligations and make cash distributions to unitholders. The non-GAAP financial measures presented by Cypress may not be comparable to similarly-titled measures of other entities because other entities may not calculate their measures in the same manner.

Cypress defines adjusted EBITDA as net income or loss exclusive of (i) interest expense, (ii) depreciation, amortization, and accretion expense, (iii) income tax expense or benefit, (iv) equity-based compensation expense, (v) and certain other unusual or nonrecurring items. Cypress defines adjusted EBITDA attributable to limited partners as adjusted EBITDA exclusive of amounts attributable to the general partner and to noncontrolling interests. Cypress defines distributable cash flow as adjusted EBITDA attributable to limited partners less cash interest paid, cash income taxes paid, maintenance capital expenditures, and cash distributions paid or accrued on preferred equity. Management believes these measures provide investors meaningful insight into results from ongoing operations.

These non-GAAP financial measures are used as supplemental liquidity and performance measures by Cypress's management and by external users of its financial statements, such as investors, banks, and others to assess:

  • financial performance of Cypress without regard to financing methods, capital structure or historical cost basis of assets;
  • Cypress's operating performance and return on capital as compared to those of other companies, without regard to financing methods or capital structure; and
  • the ability of Cypress's businesses to generate sufficient cash to pay interest costs, support its indebtedness, and make cash distributions to its unitholders.

ABOUT CYPRESS ENVIRONMENTAL PARTNERS, L.P.

Cypress Environmental Partners, L.P. is a master limited partnership that provides essential environmental services to the energy and utility industries, including pipeline & infrastructure inspection, nondestructive examination testing, various integrity services, and pipeline & process services throughout the United States. Cypress also provides environmental services to upstream and midstream energy companies and their vendors in North Dakota, including water treatment, hydrocarbon recovery, and disposal into EPA Class II injection wells to protect our groundwater. Cypress works closely with its customers to help them protect people, property, and the environment, and to assist their compliance with increasingly complex and strict rules and regulations. Cypress is headquartered in Tulsa, Oklahoma.

CAUTIONARY STATEMENTS

This press release may contain or incorporate by reference forward-looking statements as defined under the federal securities laws regarding Cypress Environmental Partners, L.P., including projections, estimates, forecasts, plans and objectives. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond Cypress's control. If any of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, Cypress's actual results may vary materially from what management forecasted, anticipated, estimated, projected or expected.

The key risk factors that may have a direct bearing on Cypress's results of operations and financial condition are described in detail in the "Risk Factors" section of Cypress's most recently filed annual report and subsequently filed quarterly reports with the Securities and Exchange Commission. Investors are encouraged to closely consider the disclosures and risk factors contained in Cypress's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. The forward-looking statements contained herein speak as of the date of this announcement. Cypress undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Information contained in this press release is unaudited and subject to change.

 

CYPRESS ENVIRONMENTAL PARTNERS, L.P.

Unaudited Condensed Consolidated Balance Sheets

As of March 31, 2021 and December 31, 2020

(in thousands)

 

March 31

 

December 31,

 

2021

 

 

2020

 

 

ASSETS

Current assets:

 

Cash and cash equivalents

$

5,291

 

$

17,893

 

Trade accounts receivable, net

 

13,565

 

 

18,420

 

Prepaid expenses and other

 

1,926

 

 

2,033

 

Total current assets

 

20,782

 

 

38,346

 

Property and equipment:

Property and equipment, at cost

 

26,858

 

 

26,929

 

Less: Accumulated depreciation

 

17,050

 

 

16,470

 

Total property and equipment, net

 

9,808

 

 

10,459

 

Intangible assets, net

 

16,719

 

 

17,386

 

Goodwill

 

50,407

 

 

50,389

 

Finance lease right-of-use assets, net

 

538

 

 

607

 

Operating lease right-of-use assets

 

1,831

 

 

1,987

 

Debt issuance costs, net

 

1,079

 

 

242

 

Other assets

 

572

 

 

570

 

Total assets

$

101,736

 

$

119,986

 

 

LIABILITIES AND OWNERS' EQUITY

Current liabilities:

Accounts payable

$

1,819

 

$

2,070

 

Accounts payable - affiliates

 

5,697

 

 

58

 

Accrued payroll and other

 

6,949

 

 

4,876

 

Income taxes payable

 

345

 

 

328

 

Finance lease obligations

 

250

 

 

250

 

Operating lease obligations

 

357

 

 

439

 

Total current liabilities

 

15,417

 

 

8,021

 

Long-term debt

 

41,829

 

 

62,029

 

Finance lease obligations

 

238

 

 

300

 

Operating lease obligations

 

1,413

 

 

1,549

 

Other noncurrent liabilities

 

339

 

 

182

 

Total liabilities

 

59,236

 

 

72,081

 

 

Owners' equity:

Partners’ capital:

Common units (12,331 and 12,213 units outstanding at

March 31, 2021 and December 31, 2020, respectively)

 

23,581

 

 

27,507

 

Preferred units (5,769 units outstanding at March 31, 2021 and

December 31, 2020)

 

45,324

 

 

44,291

 

General partner

 

(25,876

)

 

(25,876

)

Accumulated other comprehensive loss

 

(2,708

)

 

(2,655

)

Total partners' capital

 

40,321

 

 

43,267

 

Noncontrolling interests

 

2,179

 

 

4,638

 

Total owners' equity

 

42,500

 

 

47,905

 

Total liabilities and owners' equity

$

101,736

 

$

119,986

 

 

CYPRESS ENVIRONMENTAL PARTNERS, L.P.

Unaudited Condensed Consolidated Statements of Operations

For the Three Months Ended March 31, 2021 and 2020

(in thousands, except per unit data)

 

Three Months Ended March 31,

 

2021

 

 

2020

 

 

Revenue

$

26,946

 

$

68,483

 

Costs of services

 

24,050

 

 

60,528

 

Gross margin

 

2,896

 

 

7,955

 

 

Operating costs and expense:

General and administrative

 

4,326

 

 

5,940

 

Depreciation, amortization and accretion

 

1,239

 

 

1,208

 

Gain on asset disposals, net

 

(37

)

 

(12

)

Operating (loss) income

 

(2,632

)

 

819

 

 

Other (expense) income:

Interest expense, net

 

(802

)

 

(1,124

)

Foreign currency (losses) gains

 

69

 

 

(457

)

Other, net

 

116

 

 

105

 

Net loss before income tax (benefit) expense

 

(3,249

)

 

(657

)

Income tax (benefit) expense

 

(102

)

 

220

 

Net loss

 

(3,147

)

 

(877

)

 

Net loss attributable to noncontrolling interests

 

(494

)

 

(88

)

Net loss attributable to limited partners

 

(2,653

)

 

(789

)

 

Net income attributable to preferred unitholder

 

1,033

 

 

1,033

 

Net loss attributable to common unitholders

$

(3,686

)

$

(1,822

)

 

Net loss per common limited partner unit:

Basic and diluted

$

(0.30

)

$

(0.15

)

 

Weighted average common units outstanding:

Basic and diluted

 

12,243

 

 

12,096

 

Reconciliation of Net Loss to Adjusted EBITDA and

Distributable Cash Flow

 

Three Months ended March 31,

 

2021

 

 

2020

 

(in thousands)

 

Net loss

$

(3,147

)

$

(877

)

Add:

Interest expense

 

802

 

 

1,124

 

Depreciation, amortization and accretion

 

1,443

 

 

1,480

 

Income tax (benefit) expense

 

(102

)

 

220

 

Equity based compensation

 

253

 

 

264

 

Foreign currency losses

 

-

 

 

457

 

Less:

Foreign currency gains

 

69

 

 

-

 

Adjusted EBITDA

$

(820

)

$

2,668

 

 

Adjusted EBITDA attributable to noncontrolling interests

 

(375

)

 

62

 

Adjusted EBITDA attributable to limited partners

$

(445

)

$

2,606

 

 

Less:

Preferred unit distributions paid or accrued

 

1,033

 

 

1,033

 

Cash interest paid, cash taxes paid, and maintenance capital expenditures

 

1,641

 

 

1,205

 

Distributable cash flow

$

(3,119

)

$

368

 

 

Reconciliation of Net Loss Attributable to Limited Partners to Adjusted

EBITDA Attributable to Limited Partners and Distributable Cash Flow

Three Months ended March 31,

 

2021

 

 

2020

 

(in thousands)

 

Net loss attributable to limited partners

$

(2,653

)

$

(789

)

Add:

Interest expense attributable to limited partners

 

799

 

 

1,124

 

Depreciation, amortization and accretion attributable to limited partners

 

1,327

 

 

1,335

 

Income tax expense attributable to limited partners

 

(102

)

 

215

 

Equity based compensation attributable to limited partners

 

253

 

 

264

 

Foreign currency losses attributable to limited partners

 

-

 

 

457

 

Less:

Foreign currency gains attributable to limited partners

 

69

 

 

-

 

Adjusted EBITDA attributable to limited partners

 

(445

)

 

2,606

 

 

Less:

Preferred unit distributions paid or accrued

 

1,033

 

 

1,033

 

Cash interest paid, cash taxes paid, and maintenance capital expenditures

attributable to limited partners

 

1,641

 

 

1,205

 

Distributable cash flow

$

(3,119

)

$

368

 

 
 
 
 
 
 

Reconciliation of Net Cash Flows Provided By Operating

Activities to Adjusted EBITDA and Distributable Cash Flow

Three Months ended March 31,

 

2021

 

 

2020

 

(in thousands)

 

Cash flows provided by operating activities

$

10,883

 

$

4,405

 

Changes in trade accounts receivable, net

 

(4,855

)

 

(7,698

)

Changes in prepaid expenses and other

 

(142

)

 

577

 

Changes in accounts payable and accounts payable - affiliates

 

(5,277

)

 

1,197

 

Changes in accrued liabilities and other

 

(1,967

)

 

3,154

 

Change in income taxes payable

 

(17

)

 

(221

)

Interest expense (excluding non-cash interest)

 

622

 

 

980

 

Income tax expense (excluding deferred taxes)

 

(102

)

 

220

 

Other

 

35

 

 

54

 

Adjusted EBITDA

$

(820

)

$

2,668

 

 

Adjusted EBITDA attributable to noncontrolling interests

 

(375

)

 

62

 

Adjusted EBITDA attributable to limited partners

$

(445

)

$

2,606

 

 

Less:

Preferred unit distributions paid or accrued

 

1,033

 

 

1,033

 

Cash interest paid, cash taxes paid, and maintenance capital expenditures

 

1,641

 

 

1,205

 

Distributable cash flow

$

(3,119

)

$

368

 

Operating Data

Three Months

Ended March 31,

 

2021

 

 

2020

 

 

Avg. number of inspectors

 

447

 

 

1,016

 

Avg. revenue per inspector per week

$

4,429

 

$

4,838

 

Inspection Services gross margins

 

10.3

%

 

10.0

%

Avg. number of field personnel

 

23

 

 

27

 

Avg. revenue per field personnel per week

$

1,089

 

$

8,325

 

Pipeline & Process Services gross margins

 

(154.7

)%

 

19.2

%

Total barrels of saltwater processed (000's)

 

1,393

 

 

 

2,321

 

Avg. revenue per barrel

$

0.84

 

 

$

0.72

 

Environmental Services gross margins

 

65.9

%

 

 

61.3

%

Capital expenditures (000's)

$

104

 

 

$

1,140

 

Common unit distributions (000's)

$

-

 

$

2,562

 

Preferred unit distributions paid (000's)

$

-

 

$

1,033

 

Preferred unit distributions accrued (000's)

$

1,033

 

 

$

-

 

Net debt leverage ratio

4.59x

2.04x

 


Contacts

Investors or Analysts:
Cypress Environmental Partners, L.P. - Jeff Herbers – Vice President & Chief Financial Officer
This email address is being protected from spambots. You need JavaScript enabled to view it. or 918-947-5730

DUBLIN--(BUSINESS WIRE)--The "Naphthalene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.


The market for naphthalene is expected to register a CAGR of over 3% during the forecast period.

One of the key factors driving the market is the growing use of NSF (Naphthalene Sulfonate Formaldehyde) in concrete admixtures. However, the stringent regulations regarding VOC emissions are likely to restrain the market during the forecast period.

Companies Mentioned

  • Bengal Chemicals & Pharmaceuticals Ltd.
  • CarbonTech Group
  • Compro Shijiazhuang Fine Chemical Co. Ltd
  • DEZA a.s
  • Epsilon Carbon
  • Exxon Mobil Corporation
  • Gautam Zen International
  • Industrial Quimica del Nalon SA
  • JFE Chemical Corporation
  • Koppers Inc.
  • Merck KGaA
  • PCC Rokita SA
  • Rain Carbon Inc.
  • Tulstar Products Inc.
  • Wuxi Kingchan Bio-medical and Chemical Inc.

Key Market Trends

Naphthalene Sulfonates to be the Major Application

  • One of the major applications of naphthalene is in the preparation of naphthalene sulfonates which have a variety of applications, owing to their wetting and dispersing properties.
  • They are used in the production of surfactants that are used in a variety of personal care products.
  • Naphthalene sulfonates are used in preparation of naphthalene sulphonated formaldehyde (NSF) which is used in polymer-concrete admixtures to neutralize the surface charge on cement particles in enhancing water tied up in the cement agglomerations, and thereafter, in reducing the viscosity of the paste and concrete.
  • China is one of the largest markets for naphthalene sulfonates whereas Europe has shown significant growth in the demand for naphthalene sulfonates.
  • Overall, naphthalene sulfonate is likely to continue dominating the market during the forecast period.

Asia-Pacific to Dominate the Market

  • Asia-Pacific dominated the naphthalene market in 2018, owing to the high demand from countries like China and India.
  • The growing construction and agriculture industries of the Asian countries like China and India are some of the crucial factors that are driving the market growth in the region.
  • The approval of large construction projects, especially in India, China, and Japan is expected to drive the market for naphthalene in the region.
  • The construction industry of the ASEAN countries is also growing at a significant rate, owing to increasing investments by both the public and private sectors.
  • Hence, Asia-Pacific is likely to continue dominating the market during the forecast period owing to the aforementioned reasons.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Use as NSF in Concrete Admixtures

4.1.2 Growing Use in Textile Industry

4.2 Restraints

4.2.1 Stringent Environmental Regulations regarding VOC emissions

4.2.2 Other Restraints

4.3 Industry Value-Chain Analysis

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Source

5.1.1 Coal Tar

5.1.2 Petroleum

5.2 Application

5.2.1 Phthalic Anhydride

5.2.2 Naphthalene Sulfonates

5.2.3 Low-Volatility Solvents

5.2.4 Moth Repellent

5.2.5 Pesticides

5.2.6 Other Applications

5.3 Geography

5.3.1 Asia-Pacific

5.3.1.1 China

5.3.1.2 India

5.3.1.3 Japan

5.3.1.4 South Korea

5.3.1.5 ASEAN Countries

5.3.1.6 Rest of Asia-Pacific

5.3.2 North America

5.3.2.1 United States

5.3.2.2 Canada

5.3.2.3 Mexico

5.3.3 Europe

5.3.3.1 Germany

5.3.3.2 France

5.3.3.3 United Kingdom

5.3.3.4 Italy

5.3.3.5 Rest of the Europe

5.3.4 South America

5.3.4.1 Brazil

5.3.4.2 Argentina

5.3.4.3 Rest of South America

5.3.5 Middle-East and Africa

5.3.5.1 Saudi Arabia

5.3.5.2 South Africa

5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

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

6.2 Market Share Analysis**

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 Bengal Chemicals & Pharmaceuticals Ltd.

6.4.2 CarbonTech Group

6.4.3 Compro Shijiazhuang Fine Chemical Co. Ltd

6.4.4 DEZA a.s

6.4.5 Epsilon Carbon

6.4.6 Exxon Mobil Corporation

6.4.7 Gautam Zen International

6.4.8 Industrial Quimica del Nalon SA

6.4.9 JFE Chemical Corporation

6.4.10 Koppers Inc.

6.4.11 Merck KGaA

6.4.12 PCC Rokita SA

6.4.13 Rain Carbon Inc.

6.4.14 Tulstar Products Inc.

6.4.15 Wuxi Kingchan Bio-medical and Chemical Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 New Applications in the Construction Sector

For more information about this report visit https://www.researchandmarkets.com/r/39ll1m


Contacts

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

DUBLIN--(BUSINESS WIRE)--The "Freightstat Seasonal and Forecast Report" report has been added to ResearchAndMarkets.com's offering.


The freight report (and associated spreadsheet) shows seasonally adjusted total freight data for the main ferry routes based on the monthly figures generated by IRN's monthly freight survey (Freightstat). Data is shown for total freight units for the UK-Continental (Short sea and Western Channel) and UK-Ireland (Northern, Central, and Southern).

Data tables are supported by Figures showing the reported, seasonally adjust and trend data. the report shows forecasts for freight for the above routes for the coming 12 months on a monthly basis, with data tables supported by Figure showing the forecast mid-estimates and the upper and lower bounds of the forecasts.

The report is published quarterly: January (data to December), May (data to April), July (data to June) and October (data to September).

Key Topics Covered:

1. Introduction

2. Latest Trends

3. Forecasts

For more information about this report visit https://www.researchandmarkets.com/r/ejo16


Contacts

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

Report details company’s environmental, social and governance impact in helping build a better planet

SANTA ROSA, Calif.--(BUSINESS WIRE)--$KEYS #CSR--Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, has released its 2020 Corporate Social Responsibility (CSR) Report detailing the company's environmental sustainability, social impact and ethical governance initiatives worldwide. In this report, Keysight describes its 2020 crisis response efforts, reports results of its first set of CSR key impact goals, announces new goals with focus areas in net zero emissions and diversity, and validates the role of its solutions in delivering purposeful technology.


Throughout the past year’s societal impacts from COVID-19, weather-related disasters, wildfires and political unrest, Keysight maintained progress toward its vision of building a better planet through CSR. The company prioritized crisis response efforts in support of the safety and security of employees, their families and the broader community, while continuing to provide solutions to customers working in critical infrastructure and essential services. At the same time, Keysight closed on its first set of key impact goals, measuring the company’s efforts toward meeting its CSR vision. Spanning fiscal years 2015 through 2020, below are the results of these goals:

  • In the environmental sustainability space, the company recognized 18.9% water conservation and 8% energy conservation (based on fiscal year 2015 baseline). While water conservation results surpassed the 15% conservation goal, the company fell short of its targeted energy conservation goal of 10% because planned efforts in 2020 were curtailed by the reprioritization of resources to focus on COVID-19 related employee safety and wellbeing.
  • In the social impact space, Keysight engaged upwards of 818,000 students in science, technology, engineering and math (STEM) education, nearly 148,000 students more than the goal target. In addition, the company committed approximately $1.7 billion in value to strengthening communities through philanthropic, volunteerism and community engagement actions, beating the company's goal of committing $1.25 billion in value.
  • Keysight's governance approach continued to ensure there were no material negative impact to the Income Statement or to institutional investment levels from CSR-related topics, and thus this key impact goal closed at plan.

These results, along with other CSR efforts, garnered Keysight multiple recognitions in the CSR space — such as those detailed on the company's CSR News, Awards and Recognition page — even during the challenging past year.

“Keysight is proud to have successfully closed our first set of CSR key impact goals with this 2020 CSR Report,” said Hamish Gray, Keysight senior vice president and executive sponsor of the company’s CSR program. “Every employee had a part to play in this extraordinary achievement in global community impact. However, as a company of innovative and critical thinkers focused on continuous improvement, we won’t stop here.”

Having closed the end-fiscal year 2020 CSR key impact goals, Keysight has announced its next set of short- and long-term measures for helping build a better planet. Along with updated community strengthening and STEM education goals, new targets highlight commitments to net zero emissions and diversity and include the following measures.

  • Net zero emissions in company operations by end of fiscal year 2040, in alignment with the Paris Agreement’s preferred goal to limit global warming to 1.5°C.
  • By the end of fiscal year 2021, 35% global new hires will be women and 45% of U.S. new hires will be underrepresented minorities.1
  • By the end of fiscal year 2021, Keysight is targeting to commit $250 million in value to strengthening communities and engage 75,000 students and future engineers through STEM education.

In addition to the new key impact goals and continued CSR program work, Keysight’s corporate mission of accelerating innovation to connect and secure the world further exemplifies how the company’s core competencies help build a better planet. Today’s socio-economic and global environmental sustainability challenges have increased the importance and impact of Keysight’s solutions in enabling purposeful innovations. The company’s leading-edge design, test, manufacture and optimization solutions and services are critical in enabling customer breakthroughs in areas such as clean technology, wellness, safety and security.

"Recent societal challenges have highlighted the critical role corporations play in supporting global environmental and social prosperity," said Ron Nersesian, Keysight chairman, president, and CEO. "From delivering to our target CSR program goals and measures, to our sustainably-developed solutions and services, Keysight is committed to supporting global communities and enabling our customers to deliver innovative breakthroughs that change lives, secure the world and connect people across the globe."

  1. California Assembly Bill 979 defines underrepresented minority as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian, or Alaska native, or as gay, lesbian, bisexual, or transgender.

Additional information

About Keysight Technologies

Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.

Additional information about Keysight Technologies is available in the newsroom at https://www.keysight.com/go/news and on Facebook, LinkedIn, Twitter and YouTube.

Source: IR-KEYS


Contacts

KEYSIGHT TECHNOLOGIES CONTACTS:


Geri Lynne LaCombe, Americas/Europe
+1 303 662 4748
This email address is being protected from spambots. You need JavaScript enabled to view it.

Fusako Dohi, Asia
+81 42 660-2162
This email address is being protected from spambots. You need JavaScript enabled to view it.

Eco-Forward Blockchain Companies To Support CCA Through Implementation of Carbon-Neutral Initiatives and CCA Green Hash Rate Working Group

OTTAWA, Ontario--(BUSINESS WIRE)--Argo Blockchain Plc (LSE: ARB) (OTCQX US: ARBKF), a UK-based global cryptocurrency mining company, and DMG Blockchain Solutions Inc. (OTCQB US: DMGGF), a vertically integrated blockchain and cryptocurrency technology company, today announced their partnership with the Crypto Climate Accord (CCA) to promote the decarbonization of the cryptocurrency industry. Alongside the CCA, Argo and DMG are developing a new working group to more clearly outline the accord’s objectives while deploying new technologies that increase the transparency of the renewable energy sourcing of crypto mining.

Argo and DMG, both industry leaders in the development of clean mining, have worked with the CCA to ensure the accord's objectives promote meaningful impact in reducing overall emissions for the crypto industry. The companies worked to align their goals and objectives with the CCA while enhancing current protocols, demonstrating a commitment to environmental stewardship.

Bitcoin miners around the world currently account for up to an estimated 0.5% of global power usage. There is a crucial opportunity to decarbonize that growing power usage. In April of this year, founding members of the Crypto Climate Accord, a private sector-led initiative, committed to powering the cryptocurrency industry with 100% renewable energy.

“The Crypto Climate Accord helps lay the groundwork for real, tangible action to address Bitcoin mining’s impact on the environment and we are both eager and determined to ensure that Supporters and Signatories remain committed to the group’s goals,” said Peter Wall, CEO of Argo Blockchain.

“Since our inception, DMG has been committed to transparency and good governance,” said Sheldon Bennett, CEO of DMG Blockchain Solutions. “Partnering with the Crypto Climate Accord alongside Argo allows us to apply those values to put us on a path to become a more sustainable industry. Together, we can put the wheels in motion to transition the cryptocurrency industry into one that focuses on renewable energy.”

In an effort to decarbonize the global crypto industry by prioritizing climate stewardship and creating the opportunity for the entire crypto industry’s transition to net-zero greenhouse gas emissions by 2040, the CCA has outlined the following objectives:

  • Achieve net-zero emissions from electricity consumption for CCA Signatories by 2030.
  • Develop standards, tools, and technologies with CCA Supporters to accelerate the adoption of and verification of progress toward 100% renewably-powered blockchains by the 2025 UNFCCC COP30 conference.

“We are ready to roll up our sleeves and begin developing new solutions in support of the CCA,” said Jesse Morris, Chief Commercial Officer at Energy Web. “Based on early industry feedback about the CCA, we know that this green hash rate solution is critical to help individual mining facilities prove their use of renewables and the industry as a whole to set an example for other industries to follow. We look forward to working closely with Argo Blockchain, DMG, and other CCA Supporters to develop this solution and introduce it to the market as quickly as possible.”

With Argo Blockchain, DMG, and over 40 organizations on board - including 20 prominent cryptocurrency organizations - the CCA is on a path to achieve the stated objectives through the promotion and use of renewable energy solutions. The CCA invites subject matter experts, and others in the space to sign onto and aid in the implementation of the working group.

###

About Argo Blockchain Plc

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.

For more information on Argo Blockchain visit: www.argoblockchain.com

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s non-polluting data centre operations focus on earning eco-friendly revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients entirely powered by renewable energy. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s environmentally committed management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry and a strong ecological consciousness.

Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.

For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com

On behalf of the Board of Directors,
Sheldon Bennett, CEO, COO & Director

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information based on current expectations. Statements about the Company’s plans for the establishment of this new Pool and related definitive agreements, expectations, benefits and outcomes of this new Pool, the planned DCMNA, plans and goals to increase petahash (PH) by self-mining in 2021 and beyond, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

The securities of DMG are considered highly speculative due to the nature of DMG’s business.

Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers or from this new Pool, consumer sentiment towards DMG’s products, services and blockchain technology generally, decrease in the price of Bitcoin and other cryptocurrencies, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of other Bitcoin mining companies to join this new Pool, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.


Contacts

Argo Blockchain plc
North America
Wachsman: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1-212-835-2511

Europe
Salamander Davoudi
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 7957 549 906

Emma Valgimigli
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 7727 180 873

DMG Blockchain Solutions Inc.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Web: www.dmgblockchain.com

For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE
IR
917-885-7378
This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations Contact:
CORE IR 516-222-2560

HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today the acquisition of Patriot Completion Solutions LLC (d/b/a Patriot Well Soluitions) (“Patriot”) in an all-stock transaction. The acquisition of Patriot further expands Ranger’s high quality wireline business while maintaining our considerable balance sheet strength. Patriot’s market leading reputation for wireline evaluation and intervention services, combined with its strong market presence in the Permian, Bakken, DJ, and Powder River Basins, and debt free balance sheet, created a highly attractive opportunity for Ranger.


Darron Anderson, CEO of Ranger Energy Services stated, “The addition of Patriot to our Ranger portfolio of companies checks a number of strategic boxes. Operators continue to drive capital discipline resulting in a material growth of well maintenance and intervention style work. Patriot’s primary service offering of wireline evaluation and intervention plays an integral role in these types of operations, significantly expanding Ranger’s current capabilities. Secondly, Patriot’s wireline completion units will be integrated into our highly efficient Mallard wireline business resulting in greater scale and immediate synergy capture. Most importantly, Patriot brings an extremely talented and technical team to the Ranger family along with an asset base of 22 wireline units which significantly increases our fleet size and geographical reach.”

Patriot, a portfolio company of White Deer Energy, is led by CEO Dragan Cicvaric. “We are extremely proud to have represented White Deer, and our team thanks them for their partnership and continued support of Patriot and now Ranger. As we move into our next phase of growth, we are excited to be joining the Ranger family of companies. Ranger has demonstrated their knowledge and commitment to the wireline business through their Mallard brand. Their reputation and experience bring an extreme level of excitement and confidence to our team,” said Mr. Cicvaric.

During Ranger’s first quarter 2021 earnings call, management made note of potentially closing a wireline acquisition within days along with the opportunity of closing a second acquisition within the next couple of months. Ranger remains committed to building a sustainable, high returns business centered upon top quality clients, excellent service and assets, effective technologies, efficient operations and processes, and ESG stewardship. While the addition of Patriot is a great milestone toward Ranger achieving its goals, the Company continues to pursue additional accretive strategic transactions.

About Ranger Energy Services, Inc.

Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Ranger also provides services necessary to bring and maintain a well on production. The Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, Natural Gas Liquid stabilizer and storage units and related equipment.


Contacts

J. Brandon Blossman
Chief Financial Officer
(713) 935-8900
This email address is being protected from spambots. You need JavaScript enabled to view it.

NuScale Power and Prodigy Clean Energy agree to work together to advance their technologies as a baseload clean energy solution for coastal locations and island nations

PORTLAND, Ore.--(BUSINESS WIRE)--Today, NuScale Power and Prodigy Clean Energy, a Canadian company that designs and develops marine nuclear plants for safe, affordable and sustainable energy generation, announced a second Memorandum of Understanding (MOU) to support business development opportunities for a marine-deployed nuclear generating station powered by the NuScale Small Modular Reactor (SMR). NuScale Power and Prodigy Clean Energy have been collaborating since 2018, investigating the feasibility of integrating NuScale Power Modules™ (NPMs) into Prodigy’s Marine Power Station and have completed the conceptual design and economic assessment phases.


“NuScale is a world leader in SMR technology and is excited to continue working with Canadian-based Prodigy on exploring deployment possibilities with our NPMs in a marine environment,” said John Hopkins, NuScale Power Chairman and Chief Executive Officer. “Bringing our safe, scalable SMR design together with Prodigy’s Marine Power Stations has the potential to better meet the growing demand for affordable, carbon-free power worldwide, including remote coastal locations and island nations.”

Prodigy specializes in integrating commercial SMRs into marine power plant systems for coastal power generation. Prodigy’s SMR Marine Power Station would be shipyard-fabricated, and marine-transported to its deployment location, where it would be moored in place in sheltered and protected waters at the shoreline. Once berthed, the plant would be connected to the existing shore-side transmission system, avoiding the significant capital costs associated with terrestrial nuclear power plant deployments.

Prodigy’s Marine Power Station coupled with fully factory fabricated NuScale Power Modules™ will offer a turnkey clean energy solution for customers that is safer, more affordable, mobile, and flexible. This translates to lower costs and shorter schedules in comparison to land-based deployments.

“We look forward to our continued work with NuScale Power to integrate their flexible, proven and advanced SMR technology into Prodigy’s marine plant system,” said Mathias Trojer, Prodigy Clean Energy Chief Executive Officer. “Our combined technologies can generate scalable clean energy at any coastal location. Together, we will rapidly expand the accessibility of safe, zero-emissions, and reliable energy globally, as well as to locations right here in Canada.”

NuScale’s SMR made history in August 2020 as the first and only design to ever receive approval from the U.S. Nuclear Regulatory Commission and NuScale maintains strong momentum towards the commercialization of its SMR technology by the end of this decade. NuScale and Fluor are currently working for Utah Associated Municipal Power Systems (UAMPS) to bring the world’s first clean energy, carbon-free SMR project to commercialization.

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR, and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power’s website.


Contacts

Diane Hughes, Vice President, Marketing & Communications, NuScale Power
This email address is being protected from spambots. You need JavaScript enabled to view it.
(C) (503)-270-9329

RICHMOND, British Columbia--(BUSINESS WIRE)--Driven by a desire to innovate - and with all operations focused on maximizing sustainability - Geocycle Canada and Lafarge Canada have been exploring the use of low carbon and alternative fuels to reduce our carbon emissions. Part of the approach includes collaboration with neighbouring communities, highlighting their challenges, and turning these into opportunities.



Geocycle Canada and Lafarge Canada’s Richmond Cement Plant recently reached a long-term partnership agreement with the Capital Regional District (CRD) of British Columbia, a Canadian district with approximately 500,000 residents. This partnership means Geocycle Canada and the Richmond Cement plant team will co-process biosolids (an organic matter recycled from sewage), produced by CRD from treated wastewater, as an alternative to non-renewable energy sources. The Richmond plant/Geocycle invested $1.8M CAD to design and build a silo and dosing system. The plant will co-process approximately 6,000 tonnes of biosolids per year. This is equivalent to eliminating greenhouse gas emissions from more than ten million miles driven by an average passenger vehicle, per year. This will play a significant role in helping Lafarge and Geocycle meet its ambitions for the Net Zero Pledge.

Rustam Punja, Geocycle Manager for Western Canada stated, “We are investing in a creative approach to take a waste product with no value, and transform it into a valuable resource - while making a visible impact on our CO2 emissions. Our partnership with CRD is a great way to make an impact and contribute to the circular economy.”

About Lafarge Canada Inc.

Lafarge is Canada’s largest provider of sustainable construction materials and a member of the global group, LafargeHolcim. With 6,000 employees and 350 sites across Canada, our mission is to provide construction solutions that build better cities and communities. The cities where Canadians live, work and raise their families along with the community’s infrastructure benefit from the solutions provided by Lafarge consisting of aggregates, asphalt and paving, cement, precast concrete, ready-mix concrete, and road construction. www.lafarge.ca


Contacts

Jill Truscott
Manager, Communications - Western Canada
Lafarge Canada Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Mobile 403.354.5063

VALLEY FORGE, Pa.--(BUSINESS WIRE)--#BIDE--UGI Corporation (NYSE: UGI) announced today the release of its third Environmental, Social and Governance (“ESG”) report titled, The Foundation of a Renewable Energy Future. The ESG report is available on UGI’s ESG website at (https://ugiesg.com/620-2/). The report highlights UGI’s commitment to be a leader in the renewable energy space by providing energy solutions that are sustainable, reliable, and affordable. UGI has recently committed to reducing its Scope I (direct) emissions by 55% over the next 5 years1 on its path to align with international efforts to reduce carbon emissions as outlined in the Paris Climate Accord. UGI will reduce its emissions by investing in infrastructure and technology that lowers methane and greenhouse gas (“GHG”) emissions, incorporating low or zero carbon alternatives energy solutions such as compressed natural gas (“CNG”), renewable natural gas (“RNG”), and bio-Gas into our supply portfolio, transitioning our fleet to lower carbon solutions, and the sale of non-core assets such as Conemaugh.


At UGI, safety is not only our top priority, it is one of our core values and a way of life for us. UGI believes the achievement of superior safety performance is an important short- and long-term strategic initiative. We are proud to announce that we have established two safety goals that we will report on annually, as part of our ESG report:

  • 35% Reduction in Total Recordable Injuries by 20252,3 (Per 200,000 hours; 2017 baseline)
  • 50% Reduction in Accountable Vehicle Incidents (“AVI”) by 20254, 5,6 (Per 1,000,000 miles; 2017 baseline)

UGI embraces the diversity and uniqueness of individuals and cultures and the varied perspectives they provide. In alignment with UGI’s values to promote diversity, the Company recently created the Belonging, Inclusion, Diversity, & Equity (“BIDE”) Initiative, which provides the blueprint for achieving greater diversity of gender, race, culture, experience and thought throughout the organization. As part of BIDE, UGI employees established Black Organizational Leadership & Development (“BOLD”), an employee resource group that is focused on inclusion, equity, education, and empowerment for black employees and their allies through professional development opportunities created through mentorships and networking events. We recognize that our success depends upon the commitment and capabilities of a diverse and inclusive workforce, therefore, beginning in Fiscal 2021, UGI will include a diversity and inclusion goal as a component of its executives’ target annual bonus award opportunity.

UGI has a long history of strengthening the communities we serve both by providing financial assistance and supporting employee volunteer efforts. UGI employees continued this tradition of community support by donating over 37,000 hours to community-based organizations and established new partnerships with the Urban Affairs Coalition and Big Brothers Big Sisters. In addition, UGI was recognized by the Philadelphia Business Journal as a winner of the 2020 Faces of Philanthropy Awards Program for its sponsorship with the Museum of the American Revolution’s citizenship program.

John L. Walsh, President and Chief Executive Officer of UGI Corporation said, “We are proud of the progress we have made on our ESG initiatives and the publication of our 3rd ESG report. UGI is well positioned to become a leader in the future of renewable energy by providing energy solutions that are sustainable, reliable, and affordable. Our strategic asset network and proven competencies allow us to address growing customer demand, while our teams continue to work hard at identifying new opportunities within the renewable space. We are very proud to announce our ambitious target to lower our direct carbon emissions by 55% over the next five years and plan to provide insight into our evolving capital expenditure program that features increasing investments in renewable solutions.

“UGI remains equally focused on the social aspect of our commitments to shareholders. We are pleased with the progress we have made in our diversity and inclusion initiatives through the establishment of BIDE and BOLD. By fostering an environment that values diversity, we can leverage talent, unique perspectives, and varying employee experiences to ensure continued long-term success. UGI remains committed to providing enhanced disclosure and communicating our progress on key ESG initiatives, as we continue to provide value for our stakeholders.”

1 Scope 1 emissions reduction target does not include emissions from the Mountaineer acquisition, which is expected to close in 2021. The emissions from the Pine Run acquisition, announced in February 2021, will be included in the baseline 2020 number as this investment will contribute to our five year goal. The 2020 base number also takes a 5-year emissions average from the Hunlock generation facility to account for year-over-year differences in run time.

2All domestic UGI companies use the OSHA definition for Total Recordable Injuries (“TRIR”). TRIR represents the number of work-related injuries or illness’s requiring medical treatment beyond first aid, per 200,000 hours.

3UGI International reports rates in accordance with the Industrial Management System guidelines. A TRIR represents a work-related recordable injury to an employee or hired staff that requires medical treatment beyond first aid, as well as one that causes death, or days away from work.

4UGI Utilities and UGI Energy Services use the American Gas Association definition for AVI, which defines an AVI as a reportable motor vehicle incident in which the driver failed to do everything that reasonably could have been done to avoid the incident.

5UGI International reports rates in accordance with the Industrial Management System guidelines. An AVI represents an incident that caused or contributed to, in whole or in part, by actions of the company driver or contractor driver, or an incident that could have been avoided by the company driver, using reasonable defensive driving measures, which resulted in injury or damage, either to the vehicle, or to the object struck, regardless of value.

6AmeriGas defines an AVI as any incident that could have been preventable.

About UGI Corporation

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in twelve states and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.

Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.


Contacts

Investor Relations
Tameka Morris, 610-456-6297
Arnab Mukherjee, 610-768-7498
Shelly Oates, 610-992-3202

Highlights role of solutions and services in enabling environmental sustainability technologies

SANTA ROSA, Calif.--(BUSINESS WIRE)--$KEYS #CSR--Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, has announced that it will achieve net zero emissions in its operations by end of fiscal year 2040, a decade ahead of the Paris Agreement’s timeline.


“Keysight is committed to help mitigate the worst impacts of climate change,” said Ingrid Estrada, Keysight’s chief administrative officer. “This commitment puts our environmental sustainability efforts in alignment with the Paris Agreement’s preferred goal to limit global warming to 1.5 degrees Celsius, which many of our customers and investors now expect from their strategic partners.”

Keysight’s strategy focuses on achieving net zero emissions in its operations (Scope 1 and Scope 2) through energy efficiency and conservation, investment in renewable energy and selective purchase of certified offsets to neutralize any residual emissions. In particular, the company’s renewable energy approach will consider a mix of on-site renewable energy installations, procurement of green energy from utility providers and power purchase agreements in solar and wind energy.

To ensure progress and accountability towards the net zero goal, Keysight has committed to the following interim measures:

  • By the end of fiscal year 2030 – the company commits to 55% renewable energy and 10% energy reduction through efficiency and conservation initiatives (based on fiscal year 2019 baseline)
  • By the end of fiscal year 2040 – the company commits to 100% renewable energy and 20% energy reduction through efficiency and conservation initiatives (based on fiscal year 2019 baseline)

Through this process, Keysight will commit to the Science Based Targets initiative to develop approved science-based targets across relevant scopes.

In addition to these operational targets, Keysight’s sustainably developed solutions and services enable its customers to meet their own climate goals. The company’s circular economy approach to its product lifecycle model helps mitigate environmental impacts with a focus on utilization longevity, maintenance service, reuse, remanufacturing and recycling. Keysight's design, test, manufacture and optimization solutions are also critical enablers for customers implementing disruptive technologies in automotive electro-mobility, renewable energy and smart infrastructures in support of global environmental sustainability.

"Our net zero goal sends a clear message to key stakeholders about our strategic direction in environmentally sustainable operations," said Ron Nersesian, Keysight chairman, president and CEO. "By connecting these operational efforts with our sustainably-developed solutions and services that empower the clean tech and eMobility transformation, Keysight continues to exemplify our commitment to a sustainable future.”

Additional information

About Keysight Technologies

Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.

Additional information about Keysight Technologies is available in the newsroom at https://www.keysight.com/go/news and on Facebook, LinkedIn, Twitter and YouTube.

Source: IR-KEYS


Contacts

KEYSIGHT TECHNOLOGIES CONTACTS:
Geri Lynne LaCombe, Americas/Europe
+1 303 662 4748
This email address is being protected from spambots. You need JavaScript enabled to view it.

Fusako Dohi, Asia
+81 42 660-2162
This email address is being protected from spambots. You need JavaScript enabled to view it.

Tech-enabled BPO looks to the future with sustainable best practices across its digital CX platform in the call center and work-at-home customer support

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--#TIA--iQor, a managed services provider of customer engagement and technology-enabled BPO solutions, announced today that it was awarded TIA's 2020 Global Sustainability Award in the Corporate Category. The company was a previous winner of the award in 2018.


iQor’s digital CX technology and approach to innovation has helped the company “Go Green” while dramatically reducing energy usage. Over a decade ago, iQor eliminated all phones and PC computers at its contact centers, replacing them with a soft phone and thin clients, dramatically reducing energy use per employee and electronics into landfills. Typical desktops use up to 65w-250w of energy. iQor’s thin clients use only 30w of energy – a 66% to 73% reduction in power usage. Switching just 10,000 of our PCs to thin clients has freed up enough electricity to power 80-100 homes for an entire year. In addition, switching the same number of PCs to thin clients reduces carbon emissions into the atmosphere by more than 1,600 metric tons in a year. Our Digital CX Command Center automatically logs off employees when a terminal is no longer in use.

"We're excited to be recognized for our ongoing commitment to sustainability," said President and CEO Gary Praznik. "Throughout our history, iQor has been committed to sustainable best practices. Our employees care deeply about the environment, and it's our job to provide sustainable digital CX technology, education, and awareness across the nine countries we operate in today."

Green initiatives are an integral part of iQor’s culture and that of its partners, from purchasing to recycling. With a strong shift to Work-at-Home customer support, the company expects to make an even greater impact in the years to come.

Award winners will be featured on Thomson Reuters digital sign, one of the largest in the world, in Times Square in the heart of New York City on May 14, 2021. The billboard is located at 43rd Street & 7th Ave.

iQor is a co-winner with IBM and congratulates all winners for their commitment to the environment we all share.

About TIA

The Telecommunications Industry Association (TIA) represents more than 400 global companies that enable high-speed communications networks and accelerate next-generation ICT innovation. Through leadership in U.S. and international advocacy, technology programs, standards development, and business performance solutions, TIA and its members are accelerating global connectivity across every industry and market. TIA is accredited by the American National Standards Institute (ANSI).

About iQor

iQor is a managed services provider of customer engagement and technology-enabled BPO solutions. With 35,000 employees in 9 countries, we partner with many of the world's best-known brands to deliver customer support solutions that span the consumer value chain. Our award-winning technology and interaction analytics platforms enable us to measure, monitor, and analyze brand interactions, improve business processes, and find operational efficiencies that lead to superior outcomes for our partners across the customer life cycle. For more information, please visit us at www.iqor.com or follow us at www.twitter.com/iqor.


Contacts

Media Contacts
Robert Constantine
This email address is being protected from spambots. You need JavaScript enabled to view it.

LOS ANGELES--(BUSINESS WIRE)--#cleanenergy--Today, the Green Hydrogen Coalition in conjunction with the Los Angeles Department of Water and Power (LADWP) and other key partners, announced the launch of HyDeal LA, an initiative to achieve at-scale green hydrogen procurement at $1.50/kilogram in the Los Angeles Basin by 2030. HyDeal LA is a collaboration of developers, green hydrogen off-takers, integrators, equipment manufacturers, investors, and advisors coalescing to overcome the biggest barrier to the green hydrogen economy—its high cost—by launching a commercial green hydrogen cluster at scale.



Green hydrogen is an abundant, carbon-free, and safe energy carrier that can be produced from renewable electricity and water or organic waste. It can be used as a carbon-free fuel and can provide long-duration seasonal energy storage. When used as an alternative to fossil fuels, green hydrogen can enable deep decarbonization of hard-to-abate sectors, enable the repurposing of valuable existing infrastructure and an affordable, responsible energy transition. Benefits to the economy include stable pricing, energy diversity, and increased economic development by reducing our need to import fossil fuels. Green hydrogen can be used to power anything from a power plant, to a steel mill, to a hydrogen fuel cell vehicle.

“As Governor Newsom said during the release of the May Revise Budget last Friday, we need to focus on green hydrogen in this country, and California needs to compete in this space,” said Dee Dee Myers, Senior Advisor to the Governor and Director of the Governor’s Office of Business and Economic Development. “Delivering on the promise of green hydrogen means collaboration and implementation, which are the foundations of the HyDeal LA initiative. Success means clean air, reliable power, zero-emission transportation, and importantly jobs and sustainable economic development.”

Independent studies, including the recently completed Los Angeles 100% Renewable Energy Study, point to the need for renewably fueled combustion turbines—available for limited periods—to achieve reliable 100% renewable electricity.

“Green hydrogen is the key to reliably achieving 100% renewable energy,” states Martin Adams, General Manager and Chief Engineer at LADWP. “We are pleased to join the HyDeal LA effort, which includes an innovative and expanding vendor and development community, to support and help catalyze the supply chain needed to achieve large-scale, low-cost green hydrogen power supply for our local in basin plants.”

Joining HyDeal LA marks another significant initiative around green hydrogen for LADWP, which is leading the conversion of the Intermountain Power Project in Delta, Utah to the world’s first gas turbine intentionally designed and built to operate on 100% carbon free green hydrogen.

HyDeal LA is part of HyDeal North America, a commercialization platform launched by the Green Hydrogen Coalition, which is dedicated to deploying green hydrogen at scale for multi-sectoral decarbonization. HyDeal LA is modeled after HyDeal Ambition, a similar project in Europe committed to producing and purchasing 3.6 million tons of green hydrogen per year for the energy, industry, and mobility sectors at €1.5/kilogram (kg) before 2030.

In addition to LADWP, HyDeal LA leaders include 174 Power Global, Mitsubishi Power, and SoCalGas. Key implementation partners include Clifford Chance, Corporate Value Associates (CVA), Cranmore Partners, Energeia, Marathon Capital, Sheppard Mullin, and Strategen. Phase 1 of HyDeal LA will architect the high value competitive supply chain necessary to achieve $1.50/kg delivered green hydrogen in the LA Basin, and achieve in-principle agreement on the necessary terms and conditions to achieve production, storage, transport and delivery of green hydrogen at scale—all of which will be required to establish the green hydrogen ecosystem and economy in Los Angeles.

Paul Browning, President and CEO of Mitsubishi Power Americas, says, “As a leader in utility scale green hydrogen projects in the Western United States and globally, Mitsubishi Power is dedicated to achieving affordable green hydrogen costs in Los Angeles and around the world. Together with our customers and partners, we are creating a Change in Power.”

“Green hydrogen presents a significant opportunity for our gigawatt-scale solar farms to deliver decarbonized energy to multiple sectors,” said Dr. Henry Yun, President and CEO of 174 Power Global. “We are thrilled to be part of HyDeal LA and creating the path forward for electrifying our fuel supply.”

“In Southern California, the confluence of geography, visionary climate policies, and public-private partnerships like HyDeal LA mean we are well positioned to develop transformative, pragmatic and globally scalable solutions toward an integrated, and carbon-free energy system,” said Scott Drury, SoCalGas CEO. “Hydrogen will play an important part in helping SoCalGas reach our goal of achieving net-zero emissions by 2045, in keeping utility bills affordable for families and businesses, and in keeping energy reliable and resilient as we make the transition.”

In addition to the project supporters, diverse advisors are supporting the initiative, including Rachel Fakhry, Senior Policy Analyst at the Natural Resource Defense Council. Says Fakhry, “Green electrolytic hydrogen is a promising resource to help our path towards decarbonization, create a healthier environment, and clean up the air for local communities.”

Janice Lin, Founder and President of the Green Hydrogen Coalition, agrees, stating, “Green hydrogen is a game changer in achieving deep decarbonization of multiple sectors, and Los Angeles is the perfect place to launch the first HyDeal North America. LA has all the ingredients for success—visionary municipal leadership, forward-thinking utility partners, major off-takers committed to a low carbon future including power generation, industry, and port refueling operations, and lots of available renewable energy sources for green hydrogen production.”

To join HyDeal LA as an off-taker or partner, visit https://www.ghcoalition.org/hydeal/la.

______________________________________

About 174 Power Global

174 Power Global is a leading solar and energy storage project developer focused on North America’s utility and C&I energy markets. The company is wholly owned by the Hanwha Group, and has offices in Houston, Irvine, California and New York City. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with utilities, landowners, local communities, financial investors, and other partners to build highly productive, utility scale and C&I solar power plants throughout North America. Since its formation in 2017, 174 Power Global has signed over 3 gigawatts (GW) of power purchase agreements (PPAs) with more than 8 GW of additional solar projects and 10GWh of ESS projects in the development pipeline. 174 Power Global is uniquely positioned to become a leader in the Green Hydrogen economy by leveraging its core strength in utility-scale PV and ESS generation development and operation to fuel the growth of GreenH2. 174 Power Global also is affiliated with Chariot Energy, a retail energy provider that provides 100% clean, renewable solar energy to the Texas market. Chariot Energy is transforming the energy supply for Texas while modernizing and simplifying the way solar energy is sold and delivered. 174 Power Global’s name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment.

About Green Hydrogen Coalition

The Green Hydrogen Coalition (GHC) is the only organization dedicated to deploying green hydrogen at scale for multi-sectoral decarbonization. GHC is an educational 501(c)3 non-profit organization founded in 2019 whose mission is to facilitate policies and practices to advance the production and use of green hydrogen in all sectors where it will accelerate the transition to a carbon-free energy system. Visit www.ghcoalition.org.

About LADWP

The Los Angeles Department of Water and Power is the nation’s largest municipal utility, with an 8,000 megawatt (MW) electric capacity and serving an average of 436 million gallons of water per day to the more than 4 million residents of the City of Los Angeles, its businesses and visitors. For more than 100 years, LADWP has provided the city with reliable water and power service in a cost effective and environmentally responsible manner.

About Mitsubishi Power Americas, Inc.

Mitsubishi Power Americas, Inc. headquartered in Lake Mary, Florida, employs more than 2,000 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; distributed renewable technologies; environmental controls; and services. Energy storage solutions include green hydrogen and battery energy storage systems. Mitsubishi Power also offers digital solutions that enable autonomous operations and maintenance of power assets. Mitsubishi Power, Ltd. is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.

About SoCalGas

Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California’s clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment.

SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. RNG is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. The company has made significant investments to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego, California. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook.


Contacts

Maggie Field
Engagement and PR Manager
Green Hydrogen Coalition
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 630-251-1455

SAN JOSE, Calif.--(BUSINESS WIRE)--$QS--QuantumScape Corporation, (NYSE: QS, or “QuantumScape”) today announced that it has entered into an agreement with Volkswagen Group of America, Inc. to select the location of their joint-venture solid-state battery pilot-line facility by the end of 2021. The companies currently contemplate Salzgitter, Germany for the location.


The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location.

“Our goal has been to bring our solid-state lithium-metal batteries to market as soon as possible,” said Jagdeep Singh, CEO and co-founder of QuantumScape. “This joint venture brings together QuantumScape’s core battery technology with Volkswagen’s deep understanding of high-volume, high-quality production, and maximizes our ability to bring this technology into industrial production.”

QS-1 will follow QS-0, QuantumScape’s planned pre-pilot line. In its Q1 Shareholder Letter, QuantumScape highlighted progress on that front as well, securing a facility in San Jose to house the QS-0 line. To fulfill the strong inbound interest in its technology, the company also recently announced it was doubling the initial QS-0 capacity to over 200,000 cells annually, enough for hundreds of test vehicles each year.

In March, QuantumScape announced an additional $100 million in funding from Volkswagen after Volkswagen confirmed through tests at its labs in Germany that QuantumScape cells met the established technical milestone.

About QuantumScape Corporation

QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. The company’s mission is to revolutionize energy storage to enable a sustainable future. For more information, please visit www.quantumscape.com.

Forward-Looking Statements

The information in this press release includes a “forward-looking statement” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, including, without limitation, regarding the development, timeline and performance of QuantumScape’s products and technology are forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside QuantumScape’s control and are difficult to predict. Factors that may cause such differences include but are not limited to the ones listed here. The Company faces significant barriers in its attempts to produce a solid-state battery cell and may not be able to successfully develop its solid-state battery cell. Building high volumes of multi-layer cells in the commercial form factor and with higher layer count requires substantial development effort. The Company could encounter significant delays and/or technical challenges in replicating the performance seen in its single-layer cells and four-layer cells and in achieving the high yield, reliability, uniformity and performance targets required for commercial production and sale. The Company may encounter delays and other obstacles in acquiring, installing and operating new manufacturing equipment for automated and/or continuous-flow processes, including vendor delays and challenges optimizing complex manufacturing processes. QuantumScape cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect QuantumScape is set forth under the “Risk Factors” section in the registration statement filed by QuantumScape with the SEC on March 25, 2021 and available on the SEC’s website at www.sec.gov.

Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.


Contacts

For Investors
John Saager, CFA
Head of Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.

For Media
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Advanced Digital Technologies and Edge Computing for the Oil & Gas Industry" report has been added to ResearchAndMarkets.com's offering.


This edition of the Oil & Gas TOE features information on the development of inspection robots for performing offshore field inspections with latest measurement tools, the development of casing cement breakers to eliminate the cost intensive approach of plugging and abandonment of used oil fields, and the use of hydrogen powered unmanned aerial vehicles for real-time monitoring of oil & gas pipelines.

The TOE also features information on the utilization of edge analytics to reduce cost, enhance productivity, and efficiently manage equipment during upstream, midstream, and downstream oil & gas processing. It also features information on the development of servers that aid oil & gas operators to analyze exploration activities in an efficient manner.

The TOE focuses on innovations associated with the use of software-as-a-service solutions for the digital transformation of oil & gas companies and to monitor its assets in real time to increase safety and efficiency. Use of data analytics for predicting and measuring greenhouse emissions in oilfields, adoption of a cost- effective steam cracking method for regenerating zeolite catalysts used in downstream oil & gas operations, and use of reinforcement-based algorithms for effective forecasting of oil & gas reserves are also profiled in this TOE.

The Oil and Gas TOE provides intelligence on innovations pertaining to technologies, products, and processes, along with strategic insights, in the upstream and downstream processes in the oil and gas industry.

Key Topics Covered:

  • Innovations in Advanced Digital Technologies and Edge Computing for the Oil & Gas Industry
  • Ouro Negro, Brazil
  • Deep Casing Tools, UK
  • Doosan Mobility Innovation Inc., South Korea
  • Allerin Technologies Private Limited, India
  • Davra Limited, US
  • Giga-Byte Technology Co. Ltd., Taiwan
  • Cognite As, Norway
  • Kayrros Sas, France
  • Atmospheric Plasma Solutions Inc., US
  • Chinese Academy of Sciences, China
  • Sunhydrogen, US
  • Texas A & M University, US
  • Key Contacts

For more information about this report visit https://www.researchandmarkets.com/r/4y4ux1


Contacts

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

TORONTO--(BUSINESS WIRE)--$NACO #ETFs--NEO is proud to welcome Ninepoint Partners LP (“Ninepoint”) back to the NEO Exchange, with the launch of a broad theme of ETFs. The funds began trading today under the symbols NNRG, NAHF, and NACO.


"We're happy to expand our partnership with NEO as we add to our ETF product lineup,” said James Fox, co-CEO and Managing Partner at Ninepoint. “The launch of these three Ninepoint ETFs makes it easier for investors to better diversify their portfolios, and that's what Ninepoint is committed to delivering: better diversification."

The three new Ninepoint ETFs now available on the NEO Exchange include:

Ninepoint Energy Fund (NNRG)
Seeking to achieve long-term capital growth, this Fund invests primarily in equity and equity-related securities of companies that are involved in the exploration, development, production and distribution of oil, gas, coal, or uranium and other related activities in the energy and resource sector.

Ninepoint Alternative Health Fund (NAHF)
The Fund’s objective is to achieve growth by investing primarily in equity securities of companies engaged in nutrition, nutraceuticals, and new forms of medicines and pharmaceutical solutions.

Ninepoint Alternative Credit Opportunities Fund (NACO)
Seeking to generate long-term total returns, this Fund invests in a diversity of Canadian, U.S., and international fixed income securities for short-term and long-term gain. The Fund has no geographic, industry sector, asset class, or market capitalization restrictions. The Fund will use leverage created through cash borrowings, short sales, and derivative contracts.

These three new funds join four other broad theme Ninepoint ETFs already listed on the NEO Exchange, which were launched in November of 2020. Investors can trade units of the Ninepoint ETFs through their usual investment channels, including discount brokerage platforms and full-service dealers. Click here for a complete view of all NEO-listed securities.

“It’s always gratifying to welcome back a returning issuer to the NEO Exchange,” commented Jos Schmitt, President and CEO of NEO. “It’s an indication of their continued trust, and a testament to the service and support we provide to all of our clients at NEO. Ninepoint has a long and successful track record in the alternative investment space and we look forward to partnering with them once again, as we bring our own ETF expertise to the table.”

NEO consistently represents about 20% of all volume traded in Canadian ETFs and close to 15% of all trading in Canadian-listed companies.

About the NEO Exchange

The NEO Exchange is Canada’s stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading across all Canadian-listed securities on a level playing field. NEO is a non-venture stock exchange and lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Connect with NEO: Website | LinkedIn | Twitter | Instagram

About Ninepoint Partners LP

Based in Toronto, Ninepoint is one of Canada’s leading alternative investment management firms overseeing approximately $8 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.

Connect with Ninepoint: Website | LinkedIn | Twitter


Contacts

NEO Media Contact:
Aimee Morita
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on June 4, 2021 to holders of record on May 25, 2021.


About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.


Contacts

Investor Relations

Jud Bailey
+1 281-809-9088
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Relations

Thomas Millas
+1 713-879-2862
This email address is being protected from spambots. You need JavaScript enabled to view it.

BALA CYNWYD, Pa.--(BUSINESS WIRE)--#ceo--PaperWorks Industries, Inc. has announced the appointment of Brian Janki to the posts of President & CEO and member of the Board of Directors effective May 10, 2021. Mr. Janki replaces C. Anderson “Andy” Bolton.


“I am extremely excited to join PaperWorks,” says Janki. “PaperWorks is an outstanding company with a great market reputation, and I look forward to serving our customers and working collaboratively with our team members on safely and successfully executing our strategy.”

Mr. Janki most recently served as an advisor to the PaperWorks Board of Directors, and previously as President & CEO of Dunn Paper.

Mr. Janki has deep industry experience working with vertically integrated companies in recycled board substrates and folding carton segments. Prior to joining Dunn Paper, Mr. Janki held key leadership roles in Mill, Packaging, and Specialty Papers business units at Caraustar, Greif, and Glatfelter.

About PaperWorks

PaperWorks is a leading, integrated North American full-service provider of recycled paperboard and specialized folding cartons for packaging applications. The company specializes in providing folding carton solutions for a wide variety of market sectors including food, beverage, personal care, pharmaceuticals, nutraceuticals and medical devices and is also known for its state-of-the art, extended color gamut printing capability, which creates shelf-differentiating graphics.

PaperWorks has invested in state-of-the-art technology over the past three years to upgrade its paperboard mills and folding carton converting plants to be at the forefront of innovation and market differentiation. The company is committed to the highest sustainable forestry and procurement standards. Product certifications include the Forest Stewardship Council (FSC) and 100% Recycled Paperboard Alliance (RPA100). For more information, please visit: www.onepaperworks.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "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. Forward-looking statements represent management's current expectations and are based upon information available to the Company at the time of this press release. Statements in this press release that are not historical or current facts are "forward-looking statements." Such forward-looking statements include statements using words such as "anticipate," "expect," "believe," "continue," "will," "may," "estimate," "assume," "presume," "pursue," "outlook," "plan," "goal," "milestone" and similar expressions. Such statements are subject to a number of risks, uncertainties and assumptions that may cause actual results, developments, or achievements to differ materially from those projected or implied in these statements including, but not limited to, potential limitations on the Company’s ability to maintain contracts and other critical business relationships; risks associated with general economic and business conditions; requirements for adequate liquidity to fund its operations in the future, including obtaining sufficient financing on acceptable terms; other matters related to its indebtedness; and the risk factors and known trends and uncertainties described in the Company’s most recent periodic reports provided to Noteholders.

Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.


Contacts

Media Contact: Gabriela Goodman
PaperWorks Industries
+1 (215) 984-7000
This email address is being protected from spambots. You need JavaScript enabled to view it.

Offshore Source Logo

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.

Corporate Offices

Technology Systems Corporation
8502 SW Kansas Ave
Stuart, FL 34997

info@tscpublishing.com