HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) has named its current President and Chief Operating Officer, Mark Lashier, as President and Chief Executive Officer effective July 1. Lashier will succeed Greg Garland, who will remain as Executive Chairman of the Board of Directors until he retires in 2024.
Garland has led Phillips 66, which is headquartered in Houston, for the past 10 years.
“Greg’s leadership and commitment to Phillips 66, our employees and our investors have been invaluable,” said Glenn Tilton, lead Independent Director on the Phillips 66 Board of Directors and chair of the Board’s Nominating and Governance Committee. “He embodies our values of safety, honor and commitment and our vision to provide energy and improve lives.”
Since Garland assumed the Chairman and CEO role in May 2012, Phillips 66 has recorded many notable achievements. The company has:
“On behalf of the Board of Directors, I want to thank Greg for his outstanding leadership as Chairman and CEO,” Tilton continued. “He stood up Phillips 66 as an independent company and created a leading diversified energy manufacturing and logistics company, while investing for the future and delivering strong financial returns.”
Lashier joined Phillips 66 in April 2021 as President and Chief Operating Officer.
“Mark is the right leader at the right time for Phillips 66,” Garland said. “He has demonstrated a strong track record of delivering growth and driving excellence in both financial and operating results. He will lead a company that has a solid strategy, proven track record, strong leadership, outstanding employees and will successfully navigate and thrive in the energy transition.”
“I have known Mark a long time,” continued Garland. “We have a great relationship based on trust and respect, and I am confident he will serve Phillips 66, our employees, our communities and our shareholders well.”
Lashier said he planned to continue to build on the success Garland has had since the company was established in 2012.
“Greg’s leadership in fostering a culture of operating excellence and financial strength will benefit us for decades,” Lashier said. “That foundation is critical as we face the opportunities and challenges of the next 10 years. I am excited to embark on this new role and leverage the talent of our team and the strength of our assets as we continue to deliver shareholder value.”
About Greg Garland
Garland has served as Chairman and Chief Executive Officer of Phillips 66 since 2012. A chemical engineer, he previously served as Senior Vice President, Exploration and Production, Americas for ConocoPhillips and as President and Chief Executive Officer of Chevron Phillips Chemical Company, LLC (CPChem), a joint venture between Phillips 66 and Chevron. He began his career with Phillips Petroleum Company in 1980 as a project engineer for the Plastics Technical Center. He serves on several philanthropic boards, including the Barbara Bush Houston Literacy Foundation, the Greater Houston Partnership, Junior Achievement of Southeast Texas and the Board of Visitors for MD Anderson.
About Mark Lashier
Lashier joined Phillips 66 in April of 2021 as President and Chief Operating Officer. He has over 30 years of energy industry experience. Lashier served as President and Chief Executive Officer of CPChem from 2017 to 2021. Prior to that role, he held several leadership positions at CPChem, including Executive Vice President of Olefins and Polyolefins and Senior Vice President of Specialties, Aromatics and Styrenics. He began his career with Phillips Petroleum Company as a research engineer.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Dec. 31, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
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LOS ANGELES--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – has established its India headquarters in the southern city of Hyderabad, Telangana State.
"Our expansion into India represents both a strategic market opportunity and a significant boost to our global engineering capabilities," Fisker Chairman and CEO Henrik Fisker said. "We have already started local hiring in India, and expect our new team in Hyderabad to be fully operational and engaged on multiple product programs within weeks. Our talent pool in India will help us pave the way for the launch of Fisker Ocean and Fisker PEAR in India."
Fisker Vigyan India Pvt Ltd, the company's operating entity in Telangana, will focus on software development and embedded electronics, virtual vehicle development support functions, data analytics, and machine learning. The Hyderabad office will work alongside the Fisker engineering and product development facilities in California, USA.
"In the global race for leading technical talent, we see our new operation in Hyderabad as a major strategic advantage," Mr. Fisker added. "I would also like to thank the State of Telangana for their support and enabling us to make a fast start as we set up our initial operations. We are excited to tap into the growing talent pool in India."
Fisker currently has a global team of over 450 employees, with new hiring in US, Europe and India projected to boost that number to over 800 by the end of 2022, with 200 potential jobs being created in India.
Fisker will commence production of the Fisker Ocean SUV on Nov. 17, 2022, at the carbon-neutral factory of Fisker's manufacturing partner, Magna Steyr, in Graz, Austria. The Fisker Ocean, in Sport trim level, will have an estimated range of 250 miles (EPA test cycle) / 275 miles or 440 kilometers (WLTP test cycle) and feature a sleek, stylish design, as well as innovative automotive technology and a sustainable interior made from recycled materials. The Fisker Ocean Extreme will deliver up to an estimated range of 350 miles (EPA) / 390 miles or 630 kilometers (WLTP). Fisker worked extensively with battery supplier CATL, using two different chemistries, to maximize performance and minimize cost for the Fisker Ocean lineup.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.
Download the revolutionary new Fisker mobile app from the App Store or Google Play store.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology and include, among other things, the statements regarding the planned start of production and range, of the Fisker Ocean, the Company's future performance and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker's limited operating history; Fisker's ability to enter into additional manufacturing and other contracts with Magna or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, regulatory approval, launch and financing of its vehicles; Fisker's ability to execute its business model, including market acceptance of its planned products and services; Fisker's inability to retain key personnel and to hire additional personnel; competition in the electric vehicle market; Fisker's inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and those factors discussed in Fisker's Annual Report on Form 10-K, under the heading "Risk Factors," filed with the Securities and Exchange Commission (the "SEC"), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
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The May 16 event will highlight the secular dynamics underpinning the decade of growth ahead
WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, today announced that it will host an investor webinar on May 16, 2022, at 10 a.m. Eastern Daylight Time. The event will focus on the Thermal & Specialized Solutions segment highlighting secular dynamics, key business drivers, and strategic initiatives for growth. Presenters will include Mark Newman, President and Chief Executive Officer, Alisha Bellezza, President Thermal & Specialized Solutions, and Jonathan Lock, SVP and Chief Development Officer.
The event is open to the public and can be accessed via live webcast through the Chemours Investor Relations website, or via this link.
This event will also be accessible by teleconference by dialing 833-502-0453; conference ID: 2376625 (inside the U.S.) or +1-778-560-2539; conference ID: 2376625 (outside the U.S.).
A webcast replay will be available following the presentation via this link.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
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Grants to Support Underserved Communities with Programs Focused on Community Resilience, Careers in Sustainability, and Energy Efficiency Building Upgrades
ANNAPOLIS, Md.--(BUSINESS WIRE)--The Hannon Armstrong Foundation (NYSE: HASI), a non-profit philanthropic organization with a mission to accelerate a just transition toward an equitable, inclusive, and climate positive future, today announced three new multi-year partnerships with leading non-profit organizations focused on community resilience, careers in sustainability, and energy efficiency building upgrades.
The Foundation's partnerships with Groundswell, SEI, and Southface Institute will deliver funding to improve direct access to affordable clean energy and health-enhancing products and services for communities that contend with disinvestment and inequities; provide education and training opportunities for careers in climate solutions at historically Black colleges and universities and those that serve other communities of color; and equip non-profits with financial and technical resources to make sustainable building improvements.
“The Hannon Armstrong Foundation is committed to supporting the most impactful organizations working at the intersection of social justice and climate action,” said Jeffrey W. Eckel, President, Hannon Armstrong Foundation. “We are honored and grateful to help support the growth of these unique programs and services offered by Groundswell, SEI, and Southface Institute.”
Meet our partners:
Groundswell builds community power through equitable community solar projects and resilience centers, clean energy programs that reduce energy burdens, and pioneering research initiatives that help light the way to clean energy futures for all. It leads clean energy programs and projects in six states, including the District of Columbia, serving more than 5,000 income-qualified customers with more than $1.85 million per year in clean energy savings.
With funded support from the Hannon Armstrong Foundation, Groundswell will develop up to eight new community resilience center sites in Baltimore, help advance at least two community resilience center sites into the construction phase and identify an additional Maryland community that is ready to develop its own energy resilience center program.
Groundswell resilience centers combine solar and energy storage on a microgrid to keep the lights, heating, and air conditioning on when the power goes off, providing essential services for members of the community that are more likely to experience outages and less likely to have adequate resources during emergencies. Their approach puts communities first by involving local residents to identify where resilience centers should be built and to determine which services are priorities.
"Building energy resilience can do more than keep the lights on. Resilience can be reparative, support the regeneration of communities, and build wealth. It’s our privilege to be alive at a time when the transformation of our energy systems can do justice, and it is our joy to serve that vision," said Michelle Moore, CEO, Groundswell.
SEI (Strategic Energy Innovations) is an environmental non-profit that builds leaders to drive sustainability solutions. For nearly 25 years, SEI has partnered with schools, communities, and organizations across sectors to develop a leadership pathway from elementary school to early career. Its flagship programs (Energize Schools, Energize Colleges, School of Environmental Leadership, Climate Corps, and Energize Careers) educate and empower students and emerging professionals to create thriving, resilient communities. SEI's Climate Corps program is an award-winning, bridge-to-career fellowship program that recruits and places rising climate professionals with higher education institutions to implement climate change equity and resiliency projects.
With support from the Hannon Armstrong Foundation, SEI will expand its Climate Corps program. SEI will train the region's climate and energy workforce of the future and build capacity at Historically Black Colleges and Universities (HBCUs) and other universities serving historically underrepresented communities in the climate space to advance climate protection initiatives in the region. SEI will build on Hannon Armstrong Foundation's existing partnership with Morgan State University as part of the pilot year of its expanded Climate Corps on Campus.
"The Hannon Armstrong Foundation and SEI both realize that the world needs more people from all backgrounds putting climate solutions into place in their communities,” said Cyane Dandridge, Founder and Executive Director, Strategic Energy Innovations (SEI). “Building the next generation of climate leaders takes teamwork, and SEI is grateful to the Hannon Armstrong Foundation for expanding the Climate Corps program to develop capacity at Minority Serving Institutions, support high-quality professional training and mentorship, and build sustainability-focused networks.”
Southface Institute is a sustainable building nonprofit that strengthens equity and the environment by transforming residential and commercial structures at every stage of the building life cycle. Since 1978, Southface has collaborated with other nonprofits, businesses, builders, developers, universities, government agencies, and communities to deliver practical solutions with tangible results for the planet and all its inhabitants.
With funded support from the Hannon Armstrong Foundation, Southface will pilot a new model of employee engagement within their GoodUse program, which equips 45-50 non-profits each year to reduce operating costs and reap savings to reinvest into core services to the community. This is accomplished through facility and operational upgrades that increase resource efficiency, lower utility bills, and improve indoor air quality. In the pilot, Hannon Armstrong staff ambassadors will help review and choose grantees from their own communities. These communities will benefit from the increase in investment while the environment will benefit from the reduction of greenhouse gas emissions.
"Southface is excited to partner with the Hannon Armstrong Foundation to grow the impact of GoodUse in the Mid-Atlantic and Northeast," said Jim Neal, Interim President, Southface Institute. "This expansion will pay off for non-profits and communities throughout the region in a deep and lasting way, all while mitigating climate change. With our aligned goals and the profound need for mission-driven investments, this is one powerful partnership."
About Hannon Armstrong Foundation
The Hannon Armstrong Foundation's mission is to accelerate a just transition toward an equitable, inclusive, and climate positive future. Hannon Armstrong funds the Hannon Armstrong Foundation through an annual Social Dividend. The Foundation’s philanthropic priorities include providing climate solutions for disadvantaged communities; supporting career pathways in climate solutions for historically disadvantaged communities and those impacted by climate change and the energy transition; and strengthening the social fabric and promoting economic and climate resilience in our local communities. For more information, please visit hannonarmstrong.org.
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- Binding contract to supply large-scale CO2 compression equipment for world’s largest carbon capture and storage project -
MONTREAL--(BUSINESS WIRE)--Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of sustainable gas technologies, is pleased to announce today that its subsidiary Xebec Systems USA LLC, has signed a contract valued at USD113.5 million (CAD143.2 million) with Iowa-based SCS Carbon Removal LLC, a subsidiary of Summit Carbon Solutions. The contract follows a previously announced MOU signed on March 28, 2022, for 51 carbon dioxide (CO2) reciprocating compression packages. This equipment will be used for Summit Carbon Solutions’ proposed carbon capture and sequestration project, which is expected to be the largest in the world if approved. This contract represents showcases Xebec’s expanding technology portfolio for carbon capture and sequestration.
“We are pleased to be a key supplier to Summit Carbon Solutions’ project for decarbonization,” stated Jim Vounassis, President and CEO of Xebec Adsorption Inc. “With this important order, we look forward to helping bring this CO2 pipeline to fruition and playing our continued part in the global energy transition,” he added.
The equipment will be manufactured at Xebec Systems USA’s (formerly UECompression) Colorado facility.
Related links:
https://www.summitcarbonsolutions.com/
https://www.xebecinc.com
About Summit Carbon Solutions
Summit Carbon Solutions seeks to lower greenhouse gas emissions by connecting industrial facilities via strategic infrastructure to store carbon dioxide safely and permanently in the Midwestern United States. For more information, visit: www.SummitCarbonSolutions.com.
About Xebec Adsorption Inc.
Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with nine manufacturing facilities, seventeen Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information, xebecinc.com.
Cautionary Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities law. These statements relate to future events or future performance and reflect the expectation of Management regarding the growth, results of operations, performance and business prospects and opportunities of the Corporation or its industry. Forward-looking statements typically contain words such as “believes”, “expects”, “anticipates”, “continues”, “could”, “indicates”, “plans”, “will”, “intends”, “may”, “projects”, “schedules”, “would” or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Examples of such statements include, but are not limited to, statements concerning: (i) that the whole project will be commissioned as noted in this press release.
These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties that may cause the Company’s actual results, level of activity or performance to be materially different from any future results, levels of activity or performance expressed in or implied by these forward-looking statements. These risks include, generally, risks related to the ability of the Corporation to execute its strategy, operating results, purchasing third party supplies for key materials and components in a timely and cost effective basis, industry and products, technology, competition, ability to attract and retain qualified personnel, ability to manage successfully the anticipated expansion of our operations, the economy, the sufficiency of insurance and other factors which are discussed in greater details in the most recent quarterly management discussion and analysis (“MD&A”) and in the Annual Information Form of the Corporation filed on SEDAR at www.sedar.com.
Forward-looking statements contained herein are based on a number of assumptions believed by the Corporation to be reasonable as at the date of this press release, including, without limitations, assumptions about trends in certain market segments, the economic climate generally, the pace and outcome of technological development, the identity and expected actions of competitors and customers, the value of the Canadian dollar and of foreign currency fluctuations, interest rates, the anticipated margins under new contracts awards, the state of the Corporation’s current backlog, the regulatory environment, and the procurement of key material and components of products. If these assumptions prove to be inaccurate, the Corporation’s actual results may differ materially from those expressed or implied in the forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward looking statements.
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
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DUBLIN--(BUSINESS WIRE)--The "Base Oil Market Size, Share & Trends Analysis Report by Product (Group I, Group II, Group III, Group IV, Group V), by Application (Automotive Oils, Process Oils, Industrial Oils), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global base oil market size is expected to reach USD 29.9 billion by 2030 and is expected to expand at a CAGR of 4.3% from 2022 to 2030
This is attributed to rising demand for base stocks in the automotive and industrial applications. Lubricants are mainly used in gearboxes, lubricants & transmission oils, and diesel engine oils, in various automotive applications including commercial vehicles, motorcycles, and passenger cars. The automotive industry is one of the largest consumers of base oils that are growing at a faster pace.
This industry is currently facing massive shifts in terms of production from group I to group II and III. Although the shift in the sector is gradual, various factors including government directives, feedstock choices, and demand patterns play a major role in propelling the market. Also, key industry participants are expanding their businesses in the Asia Pacific region, owing to the rising industrial and automotive sectors in this region, which can further contribute to group II product demand.
Moreover, base oil manufacturing technologies adopted worldwide would further reinforce the demand for the products to suffice the growing demand for end-use utility productions. Meanwhile, prices and availability of crude oil are anticipated to largely affect the production processes globally.
The turbulence in the sector has had a significant impact on multiple other dependent industries such as base oils, lubricants, and others. Since 2019, the petroleum market has faced critical challenges as vehicle efficiency measures taken by governments worldwide to curb carbon emissions led to lower consumption of transport fuel.
However, the market witnessed a strong presence of key players that competes to dominate the market and to gain a strategic and competitive advantage over the other players.
Base Oil Market Report Highlights
Market Dynamics
Market Driver Analysis
Market Restraint Analysis
Industry Opportunity Trends
Business Environment Analysis
Industry Value Chain Analysis
Price Trend Analysis
Regulatory Framework
Impact of COVID-19 Pandemic
Trade Analysis
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ewnc39
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER--(BUSINESS WIRE)--Liberty Oilfield Services Inc. (NYSE: LBRT) announced today that it will release its financial results for the first quarter ending March 31, 2022 after the market closes on Wednesday, April 20, 2022. Following the release, the Company will host a conference call to discuss the results at 7:00 a.m. Mountain Time (9:00 a.m. Eastern Time) on Thursday, April 21, 2022. Presenting the Company’s results will be Chris Wright, Chief Executive Officer; Ron Gusek, President and Michael Stock, Chief Financial Officer.
Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Oilfield Services call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 1068517. The replay will be available until May 4, 2022.
About Liberty
Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
Michael Stock
Chief Financial Officer
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HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast to discuss operational and financial results for the first quarter 2022 on Tuesday, May 3 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
Join the webcast by visiting Magnolia’s website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia’s first quarter 2022 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call.
About Magnolia Oil & Gas
Magnolia is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.
Brian Corales
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HOUSTON--(BUSINESS WIRE)--Hunting PLC, the international energy services group, today announced that it has been contracted to provide titanium stress joints for the Yellowtail development project in the Stabroek Block offshore Guyana.
Hunting’s Direct Pull-Through installation methodology is intended to simplify installation and enhance safety during project execution.
“Hunting is extremely excited for the opportunity to use our worldwide, field-proven technologies to help ExxonMobil reduce costs and increase safety for this project,” said Dane Tipton, President of Hunting’s Subsea Technologies Division.
For more information regarding Hunting’s titanium stress joints and their Subsea Technologies offerings, visit http://www.hunting-intl.com/subsea-technologies.
About Hunting
Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.
Business Contacts:
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~Completes Investment in Boatzon~
~Innovative Technology Driving New Customer Engagements~
~Leverages Capabilities for Strategic High Margin Growth~
CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, announced today that it has invested in Boatzon. Boatzon, is the first 100 percent online boat and marine retailer providing secure direct marketplace services.
Boatzon provides marine enthusiasts easy access to boats, engines, trailers, marine products and more. Consumers can browse, finance, insure, purchase and arrange delivery of boats and marine products entirely online. The first of its kind in the boating industry, the Boatzon marketplace offers buyers a new and innovative purchase experience while providing dealers with digital tools to expand offerings to their customers.
W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, “We are excited to invest in Boatzon. The partnership aligns well with our higher margin business growth and diversification goals. It enhances our industry leading innovative technologies and digital tools. Boatzon advances the industry and complements our customer focused efforts to provide great experiences so boaters can enjoy time with family and friends on the water. We are pleased to welcome Bryan Lenett, Michael Muchnick and the entire Boatzon team as we lead the industry with the best products and services.”
Bryan Lenett, Boatzon’s CEO, commented, “Being avid boaters, as well as technology entrepreneurs, we realized that the marine industry lacked the online customer experiences many industries offer and consumers have come to expect. When we set out to develop Boatzon, we wanted to incorporate best in class technology for the marine industry to provide an experience that offers a dramatically different end-to-end customer experience. We could not think of a better partnership than with MarineMax, a pioneer in the industry, who continues to push the boundaries of the consumer experience.”
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 79 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Boatzon investment being complementary to the Company's efforts to set itself apart from the industry and the Company's goal to extend its lead in the industry with the best products and services. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2021 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Michael H. McLamb
Chief Financial Officer
727-531-1700
Media:
Abbey Heimensen
MarineMax, Inc.
Investors:
Brad Cohen or Dawn Francfort
ICR, LLC
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HDF acquires 70% of KGL’s NewGen project, the first industrial project to produce carbon-free hydrogen from a mix of renewable and energy efficient-sourced power in Trinidad
BORDEAUX, France--(BUSINESS WIRE)--Hydrogène de France ("HDF Energy") - mnemonic code: HDF - announces that it has acquired a 70% majority stake in the NewGen project in Trinidad, led by the local company Kenesjay Green Ltd ("KGL"). KGL, the project developer, will retain the remaining 30% of the share capital of NewGen, which will be jointly owned by KGL and an investment vehicle that will allow for the inclusion of additional local investors. HDF Energy is thus leveraging its technological expertise in hydrogen, its know-how in the development of green energy plants and its local presence in the Caribbean.
When completed, the 200+ Million USD NewGen plant will be the world largest clean hydrogen producing facility of its kind, using a smart combination of solar and energy efficiency-sourced power. It will competitively generate carbon-free hydrogen to meet 20% of the hydrogen requirement for an existing world-scale ammonia plant in the petrochemical hub of Point Lisas, Trinidad. Once up and running, the project will save approximately 200 000 t/CO2 per year.
As a global pioneer in hydrogen power, HDF will add its in-depth experience in hydrogen technologies, procurement and project finance, to the Trinidad-specific energy and ammonia expertise contained within the KGL project development team. This is the third major investment in the Caribbean this last year for HDF, which announced hybrid “Renewstable®” baseload power plants using green hydrogen and solar power in French Guiana and Barbados alongside its regional partner and investor, RUBIS.
Together, KGL and HDF will select the optimal electrolysis technology provider from a competitive evaluation process. KGL has also recently been granted the outline planning permission for the NewGen Project by the Ministry of Planning of Trinidad and Tobago, and has made progress in further confirming the economic and financial viability of NewGen.
Commenting on the HDF majority acquisition, KGL’s Chairman Philip Julien said, “KGL welcomes this significant endorsement and investment in NewGen by HDF, and looks forward to our collaboration and sharing of expertise. Our partnership enables improved local access to international finance and technology, optimum opportunities for local ownership, and an acceleration of Trinidad and Tobago’s energy transition commitments.”
Damien HAVARD, CEO of HDF Energy said: “We believe we have the ideal partners in Kenesjay Green, given their extensive knowledge of the industry, business acumen and their commitment to local development. Our investment in NewGen affirms our belief that Trinidad and Tobago’s energy industry offers a unique opportunity for the development of world scale and cost competitive carbon-free Hydrogen. This project demonstrates that green solutions can effectively support the transition of hydrocarbon-based economies like Trinidad and Tobago – and HDF is poised to be a part of leading the change.”
ABOUT HDF ENERGY
HDF Energy is a global pioneer in hydrogen energy. HDF develops, finances and operates multi-megawatts Hydrogen-Power plants. These plants provide continuous or on-demand electricity from renewable energy sources (wind or solar), combined with high power fuel cells supplied by HDF.
HDF has developed the world’s first mass production plant for high-power fuel cells for energy, which will be commissioned in France in 2023. Through this activity, HDF Energy will also serve the maritime and data center markets.
HDF Energy is a powerful accelerator of the energy transition by offering non-intermittent, grid-friendly and on-demand renewable power. HDF is a company listed on the regulated market of Euronext Paris
ABOUT KENESJAY GREEN
Kenesjay Green Limited (KGL) is a locally owned sustainable energy firm committed to leading the way to the Caribbean energy transition. Based in Trinidad and Tobago, the company is an affiliate of Kenesjay Systems Limited, and is dedicated to developing a pipeline of viable decarbonising and green project opportunities, which will create pioneering first-mover advantages for Trinidad, Tobago, and the Region (www.kenesjaygreen.com). The NewGen Hydrogen Project is the first major initiative of KGL.
Project website: https://www.newgenenergyltd.com
Press Relations HDF Caribbean
Thibault MENAGE, VP Caribbean This email address is being protected from spambots. You need JavaScript enabled to view it.
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nVent Delivers World’s Longest Skin-effect Tracing System Circuit Length Capability
LONDON--(BUSINESS WIRE)--nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today introduced the nVent RAYCHEM STS-HV cable, the latest addition to the nVent RAYCHEM STS Skin-effect Tracing System portfolio of longline heating solutions. This new 10 kV system delivers circuit length capabilities up to 50 km (31 miles) with operating temperatures up to 150°C (302°F) for the world’s longest heated pipeline installations.
“At nVent, we connect and protect electrical systems, making them more efficient, more resilient and safer,” said Marty Lee, nVent vice president of product management. “The nVent RAYCHEM STS-HV system launch provides customers with the world’s longest skin-effect tracing system circuit length capability. The design can reduce the number of costly electrical sub-stations, ensuring the quality, reliability and performance required for vital heat tracing infrastructure.”
Increased circuit lengths and maximum durability
The nVent RAYCHEM STS-HV skin-effect cable doubles the circuit length capability compared to existing STS offerings, which reduces overall project budget and scope related to the development of new electrical sub-station infrastructure. This is especially beneficial for pipelines spanning remote and undeveloped regions. This system is also engineered for installation pull lengths of up to 500 m (1,640 ft) to minimize the number of splice connection points throughout the heated pipeline system.
The IECEx certified hazardous and non-hazardous rated system and components include watertight IP56 rated splice enclosures and IP66 rated power, jumper and end termination enclosures designed to withstand the harshest environments spanning rugged and remote regions.
nVent RAYCHEM STS Skin-effect Tracing Systems
nVent RAYCHEM STS systems have been installed on both the world’s longest heated and insulated pipeline and sulphur transport pipeline, and in hundreds of additional installations and facilities owned by the world’s largest oil and gas producers and chemical refiners.
nVent RAYCHEM STS systems are renowned for their reliability, high-caliber performance and long operational life, built upon over 40 years of experience designing, installing and commissioning in excess of 2.5 million meters of trace-heated pipelines and bundled solutions spanning hundreds of installations.
nVent RAYCHEM STS-HV – now available globally – further solidifies nVent’s unique capabilities in the temperature-critical pipeline transportation space.
For more information on nVent RAYCHEM STS-HV, please visit https://raychem.nvent.com.
About nVent
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Learn more at www.nvent.com.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.
Will Wright
Marketing Manager
nVent
+1-713-735-8740
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Key Components for Successful Implementation of In-Car Video
BOSTON--(BUSINESS WIRE)--Strategy Analytics, in collaboration with Vewd, has released a whitepaper examining important considerations when planning in-vehicle rich media streaming.
The Strategy Analytics Automotive Infotainment & Telematics (AIT) service report, “Whitepaper: The In-Car Streaming Opportunity – Getting from Here to There,” examines different OEM approaches to implementing in-car rich media streaming, and the importance of considering rights and licensing in formulating a successful strategy.
While rear-seat support for brought-in devices such as DVD players and USB drives have been around for more than a decade, consumers are now requesting and demanding access to their favorite streaming services in the car, and in some cases, even in the front seat! However, media rights and distribution can be a minefield of limitations in terms of intellectual property rights, device, and regional distribution restrictions. “While the end consumer simply ‘wants what they want,’ successful implementation of rich media streaming in the car is a highly complex and intricate proposition that requires knowledge, experience and relationships in the industry. It isn’t something that should be approached casually,” Edward Sanchez, Senior Analyst with Strategy Analytics’ Automotive Infotainment & Telematics service, said.
“The provision of in-vehicle connected services is forecast to be a significant revenue generator for car makers in the future, with the availability of streamed entertainment services set to become a key factor in the buying decisions of car buyers,” said Vincent Duval, Head of Automotive Business Development at Vewd. “Finding the right partner to navigate through the fragmented global media landscape is essential for automotive OEMs wishing to build in-vehicle systems that make the most of this growing opportunity.”
About Strategy Analytics
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.
About Vewd
Vewd is the leading provider of OTT and hybrid TV solutions, connecting consumers anywhere to the content they love. By making OTT possible on almost 30 million connected devices each year, Vewd leads the way in defining the future of entertainment. Our suite of products and services is crafted to simplify complexity and offer solutions that unite the entire value chain, from silicon vendors to end-users. Market leaders such as Sony, Hisense, TPV, Vodafone, Sagemcom, Visteon, and many more rely on Vewd products and services. Visit Vewd.com to learn more.
Vewd offers proven and flexible solutions for overcoming the difficult challenges and escalating costs associated with the rapidly evolving OTT space. As experts in developing software solutions spanning client to cloud, Vewd provides customers and partners the products they need to connect consumers with the content they love.
Source: Strategy Analytics, Inc.
#SA_Automotive
For more information about Strategy Analytics
Automotive Infotainment & Telematics: Click here
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Partnership will enable utilities to bundle EV charger installation into a broad suite of consumer services and resources
IRVINE, Calif. & BOULDER, Colo.--(BUSINESS WIRE)--Qmerit, the leading provider of implementation solutions for EV charging and other electrification technologies, and Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced a partnership that will expand the ability of utilities to provide end-to-end charging support for EV buyers.
This partnership leverages Qmerit's extensive electrification service implementation capabilities, including a national network of skilled EV Charger installers, and Uplight's EV Solution Suite, making buying and installing a charger with utility rebates more affordable and seamless for the energy customer. This will enhance the customer experience by bringing down the cost of Level 2 chargers at point of purchase and surfacing price transparency for installation costs, allowing customers to focus on the benefits of Level 2 chargers and alleviating the number one barrier to Level 2 charger adoption—lack of consumer education. The partnership will also provide consumers with educational resources on topics including incentives for EV charger installation, charging station selection, energy management, and electrical panel upgrades.
“Both Qmerit and Uplight share a common vision—making the electrification of transportation easy for EV purchasers by bringing together all of the various technologies, resources and stakeholders,” said Tom Bowen, President of Qmerit Solutions, Qmerit. “In the big picture, this partnership is about connecting those dots to make the EV revolution more attainable at the individual level.”
Together, Qmerit and Uplight offer complementary benefits for utilities and their customers, including integrating charger sales with managed charging to help utilities enroll more customers, shifting more load and setting up the grid for future EV growth. The partnership provides utilities with more quality touchpoints with customers as they embark on the electrification journey, and customers with better support around the installation and adoption of home- or business-based Level 2 charging.
“With consumer interest in EVs rapidly increasing, offerings that ensure seamless adoption must keep up. EV chargers are the fastest growing product category on Uplight Marketplaces, with the number of chargers sold increasing nearly ten times from 2020 to 2021,” said Uplight Vice President of E-Commerce Brad Chen. “Our partnership with Qmerit is a key step in helping the energy industry to embrace this opportunity to become even more customer centric and ease pain points.”
Research by Uplight shows that most electric vehicle owners do little or no investigation into charging before purchasing their vehicle. Similarly, most don’t consider turning to their utility for this information. Chen said this situation could change as stakeholders across the EV ecosystem do a better job of coming together around the needs of the buyer.
“You’re going to see a major shift as the market moves from the curious browser to the savvy shopper,” said Chen. “It’s all part of the process of EVs going from novelty to mainstream.”
Bowen agreed, adding that the pace of the EV revolution will depend on widespread adoption of home- and business-based charging.
“We are going to need a drastic surge in residential and commercial charging in order for EVs to fulfill their promise,” Bowen said. “Our partnership with Uplight is an example of the efforts underway to make this happen for the consumer.”
Utilities interested in learning more about the Uplight and Qmerit partnership can sign up for a webinar on April 28, 2022 @ 11:00 am MT.
About Qmerit
Qmerit is North America's leading provider of implementation solutions for EV charging and other energy transition technologies, simplifying the adoption of electrification for residential and business markets. Qmerit's value-driven services are delivered through a network of company-owned contractors, independent Certified Solutions Partners, and Certified Installers skilled in system implementation and integration. For more information, visit https://qmerit.com/, and connect with us on Twitter, LinkedIn, Facebook, and Instagram.
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streaming the complex transition to the clean energy ecosystem for more than 80 electric gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
Qmerit
Samantha Graham
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Uplight
Liam Sullivan
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DUBLIN--(BUSINESS WIRE)--The "Global Military Marine Vessel Engines Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the military marine vessel engines market and it is poised to grow by $859.02 million during 2022-2026, progressing at a CAGR of 4.37% during the forecast period.
Companies Mentioned
The report on the military marine vessel engines market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by growth in demand for naval vessels, increasing investments for deploying manned submarines, and rising need for maritime surveillance capabilities due to growing maritime threats.
The military marine vessel engines market analysis includes the type segment and geographic landscape. This study identifies the prospective incorporation of intelligent propulsion systems as one of the prime reasons driving the military marine vessel engines market growth during the next few years. Also, technology focus shifting towards the development of dual-fuel engines and adoption of additive manufacturing technique for manufacturing marine vessel components will lead to sizable demand in the market.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. The report on military marine vessel engines market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The publisher's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
5.1 Market segments
5.2 Comparison by Type
5.3 Gas turbine - Market size and forecast 2021-2026
5.4 Hybrid - Market size and forecast 2021-2026
5.5 Diesel - Market size and forecast 2021-2026
5.6 Water jet - Market size and forecast 2021-2026
5.7 Nuclear - Market size and forecast 2021-2026
5.8 Market opportunity by Type
6 Customer Landscape
6.1 Customer landscape overview
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
7.4 Europe - Market size and forecast 2021-2026
7.5 North America - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 China - Market size and forecast 2021-2026
7.10 Japan - Market size and forecast 2021-2026
7.11 Germany - Market size and forecast 2021-2026
7.12 UK - Market size and forecast 2021-2026
7.13 Market opportunity By Geographical Landscape
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.1 Overview
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 AB Volvo
10.4 Caterpillar Inc.
10.5 Cummins Inc.
10.6 Fairbanks Morse LLC
10.7 General Electric Co.
10.8 MAN Energy Solutions SE
10.9 Mitsubishi Heavy Industries Ltd.
10.10 Rolls-Royce Plc
10.11 Steyr Motors Betriebs GmbH
10.12 STX Engine Co. Ltd.
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/yekm5m
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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In a 10-year agreement, Invert and minority funder Ripple will provide $30 million (USD) of up-front capital in exchange for hundreds of thousands of high-quality carbon credits providing immediate, centuries-long carbon storage
OTTAWA, Ontario & HALIFAX, Nova Scotia--(BUSINESS WIRE)--#CDR--In the wake of the United Nations’ Intergovernmental Panel on Climate Change (“IPCC”) detailing the essential need for carbon removal technologies to prevent the worst effects of climate change, Invert Inc. (“Invert”), Ripple Inc. (“Ripple"), and CarbonCure Technologies (“CarbonCure”) have signed a pioneering carbon credit purchase agreement for permanent CO₂ storage through carbon mineralization. The credit purchase will facilitate increased investment in innovative technology research and development, the rapid scaling of CarbonCure’s existing patented technologies across new sites and geographies, and significant reductions and removal of greenhouse gases from the atmosphere. The funding partnership represents the largest investment to-date in durable, verifiable carbon mineralization and storage, worth $30 million (USD).
Grand prize winner of the Carbon XPRIZE, CarbonCure offers a suite of technologies that reduce and remove carbon dioxide across the concrete manufacturing process. With hundreds of systems operating around the world, CarbonCure injects captured CO₂ into fresh concrete, where it is immediately mineralized and permanently locked away, never to return to the atmosphere. This mineralization reduces the amount of cement needed in each mix, lowering the concrete’s carbon footprint. It is an urgent task as concrete is the most used building material on Earth, and the production of its key ingredient—cement—generates about 7 percent of global CO₂ emissions each year.
Invert, a specialized emissions reduction and offsetting company, invests in carbon credit projects that produce high quality, meaningful carbon reduction and removal credits and is focused on making a wide portfolio of carbon reduction and removal projects available to individuals and businesses both big and small.
“This is an investment to catalyze positive change and remove significant amounts of greenhouse gases from the atmosphere,” said Mark Zekulin, Chairman, Invert. “We recognize that long-term removals are critical to achieving the world’s net-zero objectives, and Invert is focused on investing meaningfully to support developers and technologies in this space. Concrete offers massive global capacity and an immediate opportunity for permanent storage of captured carbon dioxide to meet the world’s climate goals. And CarbonCure is uniquely positioned to tap into that capacity with its rapid scale around the world and innovative portfolio of technologies operating now.”
“We applaud Invert’s leadership in the effort to remove carbon from the atmosphere and provide a sustainable, livable climate for future generations. CarbonCure is thrilled to partner with Invert and Ripple in this milestone agreement for our organizations and the carbon removal field,” said CarbonCure Technologies Founder and CEO Rob Niven. “This investment will accelerate CarbonCure’s active scaling and help us achieve our mission to reach 500 million metric tons of annual CO₂ reduction and removal by 2030—equivalent to removing 100 million cars from the road each year.”
Invert as a majority funder, and Ripple, a provider of enterprise crypto and blockchain solutions, as a minority funder, will provide up-front capital in exchange for hundreds of thousands of carbon credits for permanent, immediate and verifiable carbon storage, to be delivered over a ten-year period.
CarbonCure is the only carbon removal technology company with a methodology approved by Verra, the world’s most widely used voluntary greenhouse gas crediting program. CarbonCure measures and tracks the CO₂ from the point of capture to mineralization, allowing Invert and other carbon credit buyers to trace the precise deployment date and location of the CO₂ they paid to permanently store.
About Invert
Invert operates at the core of the carbon reduction ecosystem, from financing the removal of carbon from our atmosphere via high quality carbon offset projects to empowering businesses and individuals on their emissions reduction journeys.
Invert invests in carbon credit projects that produce high quality, meaningful carbon reduction and removal credits that we believe will help save our world. By selling these credits on to individuals or businesses, the Company generates revenue that can be reinvested towards further projects that reduce or remove CO2 from the atmosphere. We work directly with businesses to help them understand and reduce the carbon footprint of their operations and reduce the Scope 1, 2 and 3 emissions that they generate.
Invert is also creating a place where individuals can go to learn about what they can do themselves to address the pressing issue of climate change. The Company helps individuals understand their own impact on the world and gives them a chance to support projects that reduce greenhouse gas emissions. We want every individual to be carbon neutral, and we want them to get there in an engaging manner with rich content and community.
Invert is an ambitious group of experts, entrepreneurs, scientists and engineers who have come together with a common purpose: to give individuals and businesses the tools, information, and insight they need to make a meaningful impact on climate change. Please visit our website for more information: https://join.invert.world/
About CarbonCure Technologies
Architects, structural engineers, owners and developers are seeking proven ways to reduce the embodied carbon of their building projects. CarbonCure Technologies, a fast-growing carbon dioxide removal tech company, has developed easy-to-adopt solutions that enable concrete producers to use captured carbon to produce reliable, low carbon concrete mixes and achieve market differentiation. With more than 550 systems sold, over two million truckloads of CarbonCure mixes have supplied a broad spectrum of sustainable construction projects around the world. CarbonCure’s cutting-edge research and innovation have garnered global recognition and prestigious titles, most notably grand prize winner of the NRG COSIA Carbon XPRIZE, 2020 North American Cleantech Company of the Year and Cleantech 100 Hall of Fame Company. CarbonCure’s investors include Breakthrough Energy Ventures, Amazon, BDC Capital, Pangaea, Microsoft, 2150, Carbon Direct, GreenSoil Investments, Taronga Group and Mitsubishi Corporation. Learn more at carboncure.com.
About Ripple
Ripple is a crypto solutions company that transforms how the world moves, manages and tokenizes value. Ripple’s financial solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. Together with partners and the larger developer community, we identify use cases where crypto will inspire new business models and create opportunities for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.
Forward Looking Statement
This news release includes forward-looking statements within the meaning of applicable securities laws, including statements about expected shareholder returns experienced by clients of Invert. By their nature, forward-looking statements require Invert to make assumptions and predictions and are subject to inherent risks and uncertainties and other factors (many of which are beyond Invert’s control) which give rise to the possibility that actual results or events could differ materially from Invert’s expectations expressed in or implied by such forward-looking statements. As a result, readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and Invert disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Invert:
Caitlin O’Hara
Head of Corporate Communications
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1-613-621-9638
CarbonCure:
Haley McKey
Senior Manager of Corporate Communications
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1-571-480-2113
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) announced today that it has achieved first oil from the Khaleesi, Mormont and Samurai field development project in the deepwater Gulf of Mexico, as production has begun flowing through the Murphy-operated King’s Quay floating production system (King’s Quay FPS).
The project is comprised of the Khaleesi / Mormont fields in Green Canyon blocks 389 and 478, respectively, and the Samurai field, located in Green Canyon Block 432. Completions operations are ongoing for the remaining five wells in the seven-well project.
“This has been a strategic project of ours since we acquired the Khaleesi / Mormont assets in mid-2019 and integrated our Samurai discovery into the overall development. Achieving first oil on schedule and within budget, while managing the challenges of the COVID-19 pandemic, illustrates the competitive advantage of our industry-leading offshore execution ability. I am proud of our team’s accomplishments these past three years with the fabrication and installation of the King’s Quay FPS and our subsea flowline systems, as well as drilling and completing the wells,” said Roger W. Jenkins, President and Chief Executive Officer. “The production coming online is forecast to generate significant free cash flow, which will allow us to continue to delever with $600 to $650 million of targeted debt reduction this year and the optionality of up to $1 billion in 20231, while simultaneously reviewing our dividend. I look forward to the ongoing production growth from the Gulf of Mexico as the remainder of the wells come online throughout 2022.”
Khaleesi / Mormont and Samurai Field Partners |
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Partner |
Khaleesi / Mormont |
Samurai |
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Murphy Oil Corporation* |
34.00% |
50.00% |
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Ridgewood* |
17.00% |
50.00% |
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Red Willow Offshore, LLC |
22.50% |
- |
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ILX Prospect* |
11.33% |
- |
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Ridgewood Rialto Holdings LLC |
5.67% |
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HEDV KLM, LLC |
5.50% |
- |
||
CL&F Offshore LLC |
4.00% |
- |
||
Total |
100.00% |
100.00% |
||
* Parent entity of legal subsidiary |
||||
Murphy’s subsidiary, Murphy Exploration & Production Company – USA, operates the King’s Quay FPS and associated export lateral pipelines, which are owned 50 percent by an affiliate of Third Coast Infrastructure, LLC and 50 percent by entities managed by Ridgewood Energy Corporation, including ILX Holdings III, LLC. The King’s Quay FPS is designed to process 85 thousand barrels of oil per day and 100 million cubic feet of natural gas per day.
Further detail on the King’s Quay FPS and Khaleesi, Mormont, Samurai field development project can be found in the presentation at ir.murphyoilcorp.com/events-and-presentations/presentations/default.aspx.
1 Assumes $85 WTI oil price in FY 2022, $75 WTI oil price in FY 2023 and current production guidance
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
Rise to Zero helps reframe climate change, engage employees and accelerate climate action
TORONTO--(BUSINESS WIRE)--#carbonspotlightreport--The race is on to eliminate emissions. While many businesses are working towards operating in a climate-compatible manner, others have not recognized the widespread impacts of a warming climate on their businesses and business models, let alone support industry-wide conversations about strategic climate change mitigation.
Business leaders are unsure how to move forward and need support with employee engagement and change management to ensure sustainability is not treated as an afterthought. Moreover, the COVID-19 crisis has highlighted the importance of a deep understanding of supply chains and the potential risks that external pressures, such as a rapidly changing climate, create for businesses.
Now is the time for businesses to begin or accelerate their climate journey: Rise to Zero was founded to help organizations advance business goals while reducing climate impact. Although actions to reduce climate impacts must be accelerated, more alarming information is not needed to help move people forward.
“I have spent over 20 years in marketing and advertising, simplifying complex concepts and translating human insights into messages that people can get behind. I founded Rise to Zero with the intention to bring that expertise to help more business leaders, and more individuals move forward and take decisive action to address the climate impacts of their businesses.” – Michael Szego, Founder, Rise to Zero.
Decarbonization is an urgent business and social priority – our ecosystem has sustained substantial damage as a result of the overconsumption of natural resources. In an effort to encourage transparency and create benchmarks, Rise to Zero has launched the Carbon Spotlight Report, directing attention to the carbon impact of key business sectors and organizations’ efforts to reduce emissions.
"Awareness is at the heart of climate action. Transparent measurement and reporting at the company level is the starting point to support strategic climate action and carbon reduction. Allowing employees, partners, investors and customers to be better informed is critical if we are going to see the transformative changes needed to stay below 1.5C temperature increase." – Kristy O’Leary, Co-founder of Decade Impact - one of Canada’s premier Impact Consulting firms.
Rise to Zero has analyzed the emissions of nine major grocery retailers (Tesco, Walmart, Loblaws, and Sobeys, to name a few), selected based on their size, stature, and regional prominence. The sheer size of these retailers means they have a significant impact on the environment, through powering their stores and distribution centers, operating transport and delivery vehicles, producing products and handling their waste.
The Carbon Spotlight Report: Grocery Retail is the first industry sector deep dive, and the first report of its kind, sourcing data from a range of publicly accessible sources that have never before been published in a single, comparative format.
View the report: The Carbon Spotlight Report
“There are clear market signals highlighting the urgency of reducing carbon emissions, including the Canadian federal government's plan to reduce GHG emissions by 40% below 2005 levels by 2030. Electrification is one of the key steps to decarbonizing supply chains and curbing the worst impacts of climate change.” – Nino Di Cara, President of Electric Autonomy Canada - the leading publisher of news on the electrification of the transportation sector in Canada.
According to a global study from Pew Research Centre, 80% of people are willing to make changes to how they live and work to reduce the effects of global climate change.
Now more than ever, collaboration between companies and their suppliers is crucial when it comes to understanding climate risks and opportunities. This is critical to building inclusive, climate-compatible and transparent global supply chains.
To learn more about how Rise to Zero helps organizations advance business goals and reduce climate impact, visit: risetozero.co.
About Rise to Zero:
Rise to Zero is a social impact organization helping organizations advance business goals while reducing climate impacts. Through thought-provoking content, narrative and identity projects, and advisory services, Rise to Zero aims to mobilize individuals, businesses, and governments to take urgent action towards rapid emissions reductions.
For Information on Rise to Zero:
Michael Szego, Founder
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rise to Zero
For Media Inquiries:
Jay Sachdev
This email address is being protected from spambots. You need JavaScript enabled to view it.
647-203-3595
Breathe Purpose Media
MUNICH & SALEM, N.H.--(BUSINESS WIRE)--International testing, inspection, and certification (TIC) company TÜV SÜD and ioMosaic, a leading US provider of process safety solutions (PSS), have agreed to the formation of a strategic alliance in risk management and process safety services. The alliance will benefit the customers of both companies, delivering them a wider range of services plus additional digital applications, substantially increased laboratory capacity, broader training offers, and added training expertise.
For companies in the chemical and process industries, ensuring process safety is a critical requirement. Third-party specialist service providers such as TÜV SÜD and ioMosaic can contribute significantly to understanding and minimizing the potential gaps and risks in processes, ensuring only safe methods are applied and thereby protecting people, assets, and the environment from negative consequences.
Employing 25,000-plus staff at over 50 locations, TÜV SÜD is one of the leading providers of TIC services worldwide. Drawing on more than 40 years of experience in optimization of operational efficiency and safety and in risk minimization in the chemical and process industries, the TÜV SÜD Business Unit Chemical and Process Industry supplies comprehensive services and a testing laboratory accredited in accordance with ISO 17025. TÜV SÜD’s highly renowned expertise in the field of process safety is supplemented by TIC services in the field of asset integrity management, certifications of pressure equipment, and certifications of functional safety.
ioMosaic is a leading provider of process safety solutions. Bringing more than 30 years of experience in process safety and software solutions. ioMosaic experts work side by side with their clients to manage episodic risks and improve the safety of their work environments, thus enabling them to focus on their core business. ioMosaic offers a broad range of safety, risk management, ioKinetic laboratory testing, user and enterprise software, and training solutions that help prevent catastrophic incidents in the process and chemical industries.
“We understand that every process is unique and requires a unique view to be taken. With this in mind, especially in process safety we have adopted a pragmatic and holistic approach which we use as a basis for designing tailor made solutions customized to our clients’ processes. We are excited to expand our services through our strategic alliance with ioMosaic and to provide even better support for our globally operating customers, particularly those located in the US,” says Hans-Joachim Machetanz, Business Unit Manager Chemical and Process Industry TÜV SÜD and CEO of Germany-based TÜV SÜD Chemie Service GmbH.
“Drawing on more than 30 years of experience, our focus is to help our clients minimize their risks and maximize their potential. Through its dedication to continual innovation and improvement, ioMosaic has become a leading provider of integrated process safety and risk management solutions. We consider our strategic collaboration with TÜV SÜD an excellent opportunity for growing our existing portfolio in a targeted manner and offering our clients additional services and one-stop solution packages,” says Dr. G. A. Melhem, President & CEO, ioMosaic.
Further information about the services provided by TÜV SÜD and ioMosaic can be found at https://www.tuvsud.com/en-us/process-safety and www.iomosaic.com.
Note for editorial staff: The press release can be found at https://www.tuvsud.com/en-us/press-and-media
Founded in 1866 as a steam boiler inspection association, the TÜV SÜD Group has evolved into a global enterprise. More than 25,000 employees work at over 1.000 locations in about 50 countries to continually improve technology, systems and expertise. They contribute significantly to making technical innovations such as Industry 4.0, autonomous driving and renewable energy safe and reliable. www.tuvsud.com
ioMosaic was founded in 2001 and has offices in the United States, Europe, and the Middle East. To find out more about ioMosaic, please visit www.ioMosaic.com
Media Relations:
Dr Thomas Oberst
TÜV SÜD AG
Corporate Communications
Tel. +49 (0) 89 / 57 91 – 23 72
Fax +49 (0) 89 / 57 91 – 22 69
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Internet www.tuvsud.com
Lisa Ruth
Vice President
ioMosaic Corporation
Tel. 713-490-5220 x 2168
Fax. 832-553-7283
Email. This email address is being protected from spambots. You need JavaScript enabled to view it.
Internet www.iomosaic.com
Jasmine Martirossian
Vice President of Marketing
TÜV SÜD Americas
Phone: + 978-288-9706
Fax: +978 977 0159
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Internet: www.tuvsud.com/en-us
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today it will release financial results for the first quarter of 2022 on May 5, 2022 after market close, followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific). President and Chief Executive Officer of Clean Energy Andrew J. Littlefair and Chief Financial Officer Robert M. Vreeland will host the call.
Investors interested in participating in the live call can dial 1.888.321.0431 from the U.S. and international callers can dial 1.412.902.4121. A telephone replay will be available approximately two hours after the call concludes through Sunday, June 5 by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 10165233.
There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.
About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Robert M. Vreeland, CFO
This email address is being protected from spambots. You need JavaScript enabled to view it.
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