WYOMISSING, Pa.--(BUSINESS WIRE)--#Biogas--UGI Corporation (NYSE: UGI) announced today that MBL Bioenergy has entered an agreement to develop its second and third clusters of dairy manure waste to renewable natural gas (“RNG”) projects in South Dakota. In total, these additional projects will represent approximately $150 million of investment by MBL Bioenergy, of which 100% of the funds will be provided by UGI Energy Services, LLC (“UGIES”), a subsidiary of UGI. MBL Bioenergy is a joint venture partnership between UGIES, Sevana Bioenergy and a subsidiary of California Bioenergy (“CalBio”) with the sole purpose of developing RNG projects in South Dakota.
The second cluster project, Brookings, will be built at three farms located near Estelline, South Dakota, and is expected to generate approximately 300 million cubic feet of RNG annually once completed in calendar year 2024. Dairy waste from the farms will be anaerobically digested, producing biogas which will then be piped to a gas upgrading facility before it is delivered into the local natural gas distribution system.
The third cluster project, Lakeside, will be built at two farms located near Summit, South Dakota, and is expected to generate approximately 225 million cubic feet of RNG annually once completed in calendar year 2024. Similar to the second cluster, dairy waste from the farms will be anaerobically digested and biogas piped to a gas upgrading facility before it is delivered into the local natural gas distribution system. UGIES, through its wholly owned subsidiary, GHI Energy, will be the exclusive marketer for MBL Bioenergy for these projects.
“This project sets a new standard for UGI in terms of scope and size and represents a key milestone in UGI’s investments in RNG projects,” said Robert F. Beard, Chief Operations Officer, UGI. “We are pleased to be partnering with industry-leading developers on this project that will substantially reduce greenhouse gas emissions, using dairy RNG as a vehicle fuel. In May of 2022, UGI committed over $70 million of investment to fund the Moody cluster of three dairies. The Moody cluster is now well into construction and anticipated to be online in late 2023. We look forward to making additional investments in our MBL partnership as we advance the use of RNG as an environmentally responsible and clean energy solution.”
“This expansion of our partnership with UGI is another important step forward in expanding our carbon negative renewable natural gas business,” said N. Ross Buckenham, CEO of CalBio. “Our dairy methane capture and refining projects are delivering significant environmental benefits, improving economics for dairy farm partners and supplying a clean burning diesel replacement fuel.”
“Sevana values this commitment to expand our partnership and engage South Dakota dairy farmers and communities to benefit the local economy and environment,” said Steve Compton, President of Sevana. “We are excited to build a value chain of strong relationships to decarbonize transportation fuels and significantly reduce greenhouse gas emissions. Sevana’s team of biogas experts is deploying state-of-the-art renewable energy technology across multiple RNG projects in agricultural communities.”
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, natural gas utilities in West Virginia, 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 the Mid-Atlantic region of the United States and California, and internationally in France, Belgium, and the Netherlands.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About Sevana
Sevana Bioenergy develops, designs, owns and operates large-scale anaerobic digestion projects which produce renewable natural gas and organic based soil amendments. Using state-of-the-art technology, engineering, and design, we are advancing the future of biogas energy production in the United States. Biogas projects reduce waste, increase the use of renewable energy and reduce long-term greenhouse gas emissions. Our mission is to be a market leader in accelerating the production of renewable natural gas derived from anaerobic digestion facilities in North America. With an experienced team of national and international experts, we build value-add partnerships in agricultural communities by creating new markets for existing agricultural businesses. Our goal is to ensure that communities benefit and thrive through these partnerships while building renewable solutions to local waste and energy challenges. More information is available at www.sevanabioenergy.com.
About CalBio
CalBio is a leading developer of dairy digesters for generating renewable vehicle fuel and electricity. Founded in 2006, CalBio works closely with local and state agencies, the California Air Resources Board, USDA, the dairy industry and individual dairy farmers to achieve methane reductions, protect local air and water quality, and create jobs. CalBio is currently operating and/or developing over 100 dairy digester projects in California and now through its affiliates: Midwest Bio, Northwest Bio, and Southwest Bio, is developing projects across the west. For more information call CalBio or visit: www.calbioenergy.com.
UGI Investor Relations
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
MILWAUKEE, Wis.--(BUSINESS WIRE)--Luxfer Holdings PLC (NYSE: LXFR) (“Luxfer” or the “Company”), a global industrial company innovating niche applications in materials engineering, today announced that its Board of Directors has declared a quarterly dividend of 13 cents per ordinary share.
The dividend will be payable on February 1, 2023 to shareholders of record as of the close of business on January 13, 2023.
All holders of NYSE-listed ordinary shares will be paid in U.S. dollars through the Company’s dividend disbursing agent. For holders of ordinary shares not directly listed on the New York Stock Exchange, the dividend will be paid directly by the Company. Payment will be made in U.S. dollars, but holders of ordinary shares can elect to receive their dividend payment in respect of those ordinary shares in pounds sterling. If a holder of ordinary shares has previously requested and received a dividend in pounds sterling, the holder will receive the dividend payable on February 1, 2023 in pounds sterling, unless a written election to change the payment currency is received by the Company Secretary no later than January 12, 2023. Holders of ordinary shares electing to receive their dividend in pounds sterling will have the U.S. dollar amount converted to pounds sterling at the spot rate reported in the Financial Times for the record date.
About Luxfer Holdings PLC
Luxfer is a global industrial company innovating niche applications in materials engineering. Using its broad array of proprietary technologies, Luxfer focuses on value creation, customer satisfaction, and demanding applications where technical know-how and manufacturing expertise combine to deliver a superior product. Luxfer’s high-performance materials, components, and high-pressure gas containment devices are used in defense and emergency response, clean energy, healthcare, transportation, and general industrial applications. For more information, please visit www.luxfer.com.
Luxfer is listed on the New York Stock Exchange and its ordinary shares trade under the symbol LXFR.
Michael Gaiden
Vice President of Investor Relations and Business Development
(414) 982-1663
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Project Aims to Sequester Initial 370,000 Metric Tons of CO2 Per Annum
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) today announced a Carbon Dioxide Management Agreement (CDMA) between Carbon TerraVault Holdings, LLC (CTV) and Grannus, LLC (Grannus), an independent clean-tech company that is building a portfolio of blue ammonia and hydrogen production facilities to supply the agriculture, mobility and marine fuel markets, to sequester 370,000 metric tons (MT) of carbon dioxide (CO2) per annum at CTV III from a new blue ammonia and hydrogen plant to be constructed in Northern California. Called the Grannus Blue Ammonia and Hydrogen Project, the project aims to be California’s first blue ammonia and hydrogen facility producing 150,000 MT per annum of blue ammonia and 10,000 MT per annum of blue hydrogen.
The blue ammonia facility will use Grannus’ patented process which is expected to operate a virtually emissions-free facility once the CO2 is sequestered. The facility will produce blue hydrogen which is combined with nitrogen to produce ammonia for use in nitrogen-based fertilizers, while the generated CO2 will be captured and then stored permanently underground by CTV. California produces over a third of the country’s vegetables and three-quarters of the country’s fruits and nuts, providing a strong ammonia market in the state. The blue ammonia fertilizer is expected to be supplied to CALAMCO, an investor in Grannus and a California-based cooperative made up of approximately 900 dealer and grower members, which represents the majority of agricultural ammonia demand in the state.
“We are thrilled for the expansion of our decarbonization efforts in Northern California where we see an incredible amount of carbon capture and storage (CCS) opportunities,” said Mac McFarland, CRC’s President and Chief Executive Officer. “Our partnership with Grannus begins a new chapter of carbon storage in Northern California and also positions Grannus as one of the leading clean-tech companies in the state by introducing a blue ammonia facility in San Joaquin County with permanent CO2 storage through Carbon TerraVault.”
“As a next generation clean-tech company, we are excited to partner with such a knowledgeable carbon management provider as Carbon TerraVault due to their unique vault positioning in the heart of Northern California’s industrial sectors, strong subsurface expertise, and their leadership in California’s new energy economy and carbon management,” added Matthew Cox, Grannus’ Chief Executive Officer. “California’s first blue ammonia fertilizer production facility is expected to further reduce the carbon intensity of California’s agricultural sector while delivering environmentally conscious food to every American’s doorstep. We look forward to furthering our decarbonization efforts in California.”
CDMA Highlights:
The construction process of the new Grannus Blue Ammonia and Hydrogen Project and associated CCS infrastructure is expected to provide at its peak approximately 250 temporary construction jobs and 31 permanent technical jobs, further benefiting California’s economy and supporting the state’s energy transition ambitions.
About Carbon TerraVault
Carbon TerraVault Holdings, LLC (CTV), a subsidiary of CRC, provides services that include the capture, transport and storage of carbon dioxide for its customers. CTV is engaged in a series of CCS projects that inject carbon dioxide (CO2) captured from industrial sources into depleted underground reservoirs and permanently store CO2 deep underground. For more information about CTV, please visit www.carbonterravault.com.
About California Resources Corporation
California Resources Corporation (CRC) is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and CRC is focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing CCS and other emissions reducing projects. For more information about CRC, please visit www.crc.com.
About Grannus
Grannus, LLC is an independent clean-tech company that is building a portfolio of blue ammonia and hydrogen production facilities to supply the agriculture, mobility and marine fuel markets. Grannus is focused on selecting technologies and processes that improve the project’s environmental profile while simultaneously delivering attractive returns to stakeholders. Grannus was formed in 2012 to develop and bring to market next generation hydrogen and ammonia production process technology. Grannus’ patented process replaces the traditional steam methane reformer with a more efficient partial oxidation boiler. This novel process creates synthesis gas at the lowest emissions level in the industry at efficiency levels exceeding existing best-of-class plant designs. For more information, visit www.grannusllc.com.
Forward-Looking Statements
This document contains statements that CRC believes to be “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. All statements other than historical facts are forward-looking statements, and include statements regarding CRC's future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and plans and objectives of management for the future. Words such as "expect," “could,” “may,” "anticipate," "intend," "plan," “ability,” "believe," "seek," "see," "will," "would," “estimate,” “forecast,” "target," “guidance,” “outlook,” “opportunity” or “strategy” or similar expressions are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.
Although CRC believes the expectations and forecasts reflected in CRC's forward-looking statements are reasonable, they are inherently subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond CRC's control. No assurance can be given that such forward-looking statements will be correct or achieved or that the assumptions are accurate or will not change over time. Particular uncertainties that could cause CRC's actual results to be materially different than those expressed in CRC's forward-looking statements include:
CRC cautions you not to place undue reliance on forward-looking statements contained in this document, which speak only as of the filing date, and CRC undertakes no obligation to update this information. This document may also contain information from third party sources. This data may involve a number of assumptions and limitations, and CRC has not independently verified them and do not warrant the accuracy or completeness of such third-party information.
Joanna Park (Investor Relations)
818-661-3731
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Richard Venn (Media)
818-661-6014
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Agreement enables company to focus on growth of core businesses
BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) agreed to sell its West Virginia natural gas utility assets to Hope Gas, headquartered in Morgantown, WV. This move will allow the company to focus on – and prioritize – the growth of its utilities in states where it has scale, following its long-term strategy of infrastructure investment and growth by acquisition of water and wastewater systems.
Specifically, the transaction will allow the Essential team to:
The remaining gas operations will continue to focus on capital improvements, operating excellence, and safety. The Peoples operation in Western Pennsylvania also will continue to play an important role in Essential’s acquisition strategy as Aqua expands its footprint into the region, leveraging Peoples’ valued brand and community relationships.
Totaling approximately 13,000, the customer base of Peoples West Virginia (‘Peoples WV’) is the smallest among all of the states where Essential operates. However, over the past two-and-a-half years, under the management of Essential and the dedicated WV employees, the company continued to make investments and operational improvements.
“The ability to apply economies of scale is crucial for the long-term stability of utilities. The sale of Peoples WV to Hope Gas will provide greater economies of scale in West Virginia and allow continued rate stability for our customers. We will work diligently with the Hope Gas management team to close the transaction and fully expect a seamless transition,” said Chris Franklin, Chairman and CEO of Essential Utilities.
The sale is subject to customary closing conditions, including approval from the Public Service Commission of West Virginia.
It is expected to close by the middle of 2023.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which generally include words such as “believes,” “expects,” “intends,” “anticipates,” “estimates” and similar expressions. The Company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent its views only as of today and should not be relied upon as representing its views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause the company’s actual results to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to statements relating to the capital to be invested by the water, wastewater, and gas distribution divisions of the Company. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including the factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which is filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with The Company’s business, please refer to the Company’s annual, quarterly and other SEC filings. The Company is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
About Essential
Essential Utilities, Inc. (NYSE:WTRG) delivers safe, clean, reliable services that improve quality of life for individuals, families, and entire communities. With a focus on water, wastewater and natural gas, Essential is committed to sustainable growth, operational excellence, a superior customer experience, and premier employer status. We are advocates for the communities we serve and are dedicated stewards of natural lands, protecting more than 7,600 acres of forests and other habitats throughout our footprint.
Operating as the Aqua and Peoples brands, Essential serves approximately 5.5 million people across 10 states. Essential is one of the most significant publicly traded water, wastewater service and natural gas providers in the U.S. Learn more at www.essential.co.
WTRGF
Media Contact:
Jeanne Russo
Vice President, Communications
Media Hotline: 1.877.325.3477
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Investor Contact:
Brian Dingerdissen
Vice President, IR and Treasurer
O: 610.645.1191
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Press Event to Unveil Production iChassis on January 5, 2023
FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it will showcase the world premiere of five new vehicles at the upcoming 2023 Consumer Electronics Show (CES®), one of world’s largest technology trade shows taking place January 5-8, 2023 in Las Vegas. The new vehicles join what is quickly becoming the most comprehensive All Electric Commercial vehicle lineup available worldwide. Vehicles making their world premiere include the recently announced LM864H, a Class 8 Hydrogen Fuel Cell vehicle, the Logistar 300, an All-Electric Class 3 van, and the iChassis product line of three open-platform, fully programmable vehicles designed for automated and autonomous driving.
Cenntro will host a press event on January 5th to showcase its full product line, unveil its three vehicle production versions of the iChassis and discuss its full product strategy at a press event scheduled for 10:00 AM on January 5, 2023, in Booth 5840.
The press event will be streamed live and available here.
LM864H Brings Zero Emissions for the Long Range
The LM864H is a 6x4 semi-tractor representing Cenntro’s first entry into hydrogen fuel cells and its first heavy-duty truck. The semi-tractor’s electric motors are fully powered by high-efficiency sustainable hydrogen fuel cells with eight 210-liter banks that convert hydrogen into electric power by combining it with oxygen, producing only water as its only byproduct. The LM864H will be available in 3Q of 2023.
LS 300 to bring All Electric Van to Logistics and Vocational Industry
The LS 300 is a Class 3 vehicle and will be available in two variations: as a van and a truck. The range and capacity of the LS300 will make it a strong contender in the commercial EV market for last mile delivery and urban services. The LS300 is equipped with a 118kWh lithium iron phosphate (LFP) battery, a maximum speed of 62 mph and the range of 273 miles (440 km). The van version features four doors for easy access and the truck variation can be upfitted with different configurations that can meet the needs for multiple applications.
Cenntro Full Product Line on Display in Booth 5840
Cenntro’s exhibit at Booth 5840 in the West Hall will be a 10,000 square feet display of its complete All Electric Commercial product line. The exhibit will include the full Logistar line which features the versatile compact cargo van, the LS100, the multi-purpose LS200 available in van or box truck configurations, the segment defining LS260 van and the Class 4 LS400 purpose-built for last mile delivery and urban services. Cenntro will also showcase its Off-Road Vehicle offerings, the TeeMak, and the Antric One, an auto grade four wheeled e-cargo bike purpose-built for delivery services and general cargo transport.
iChassis Open a Gateway for Open Platform Autonomy
Cenntro's production version, state of the art All Electric iChassis series will revolutionize how the industry defines autonomy and open up new possibilities for commercial applications. The open-platform, fully programmable iChassis series has been designed for automated and autonomous driving. Unlike other industry offerings, Cenntro’s iChassis opens innovation to third-parties to develop their own software and design hardware to control and maneuver the vehicle and to develop new applications that are unique to their needs.
About Cenntro Electric
Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric light and medium-duty commercial vehicles. Cenntro's purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which may be viewed at www.sec.gov.
Investor Relations Contact:
Chris Tyson
MZ North America
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949-491-8235
TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) (“the “Partnership” or “NGL”) announced an increase to its Fiscal 2023 Adjusted EBITDA guidance today. The Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million. Of this amount, more than $430 million is expected to be generated from the Partnership’s Water Solutions segment. Additionally, the Partnership disclosed that it has reduced debt balances by approximately $227 million during its third fiscal quarter and has a total debt balance of $3.258 billion as of December 31, 2022.
“We are excited to update our Fiscal 2023 Adjusted EBITDA guidance to greater than $630 million as we continue to see increases in water volumes processed in the Delaware Basin as well as other cash flow positive developments. We have eagerly anticipated this growth and are pleased to see years of hard work resulting in improved performance,” stated CEO Mike Krimbill. “As we increase Adjusted EBITDA and reduce indebtedness, we continue to de-lever.”
In addition, NGL today announces that Brad Cooper will be promoted to Executive Vice President and Chief Financial Officer effective January 13, 2023. Mr. Cooper joined the Partnership in June 2021 as the Partnership’s Senior Vice President of Administration and Risk Management. Mr. Cooper has over 20 years of experience in the energy space working for public companies with experience across upstream, midstream and downstream sectors. Most recently prior to joining the Partnership, Mr. Cooper spent 10 years with WPX Energy where he was Vice President of Finance and Treasurer. Prior to WPX Energy, he was at The Williams Companies where he held various corporate finance and risk management leadership roles.
Linda Bridges has announced that she will be resigning from her position with the Partnership as Chief Financial Officer effective January 13, 2023 to pursue other interests. “Linda has been a significant contributor to the Partnership since she joined us in June 2016. Through her leadership, we are in a great position to accelerate the repayment of the 2023 Notes and reduce total leverage as we approach our fiscal year end on March 31, 2023. We sincerely thank Linda,” stated Mr. Krimbill.
The expectations set forth herein are preliminary in nature and remain subject to completion of quarter-end processes and accounting procedures and are therefore subject to change.
Forward-Looking Statements
This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes such forward-looking statements are reasonable, NGL cannot assure they will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in NGL’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.
NGL provides Adjusted EBITDA guidance that does not include certain charges and costs, which in future periods are generally expected to be similar to the kinds of charges and costs excluded from Adjusted EBITDA in prior periods, such as income taxes, interest and other non-operating items, depreciation and amortization, net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities and items that are unusual in nature or infrequently occurring. The exclusion of these charges and costs in future periods will have a significant impact on the Partnership’s Adjusted EBITDA, and the Partnership is not able to provide a reconciliation of its Adjusted EBITDA guidance to net income (loss) without unreasonable efforts due to the uncertainty and variability of the nature and amount of these future charges and costs and the Partnership believes that such reconciliation, if possible, would imply a degree of precision that would be potentially confusing or misleading to investors.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.
NGL Energy Partners LP
H. Michael Krimbill, 918-481-1119
Chief Executive Officer
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AUSTIN, Texas & TOULOUSE, France--(BUSINESS WIRE)--#UAV--H3 Dynamics is announcing the global launch of H2FIELD-1, a new hydrogen station capable of producing hydrogen in the field for unmanned aerial vehicles of all shapes, sizes and configurations.
Now hydrogen-powered airships, multi-rotors, vertical take-off and landing UAS and various fixed wing systems will be able to benefit from 24/7 hydrogen supply anywhere, anytime.
H2FIELD’s rugged IP-65 trailer-based solution brings hydrogen production to different drone operation locations. It can also be dismounted as a permanent installation and connect to solar panel arrays. H3 Dynamics can supply various configurations, with slow or fast charge options down to minutes per fill - depending on client requirements. H3 Dynamics’ system is extremely compact and can produce hydrogen on site - not just dispense it from other storage forms.
For hydrogen drone operators, H2FIELD-1 solves fundamental hydrogen accessibility in remote areas, unlocking a major logistical barrier for a growing base of hydrogen drone operators in industrial, defense, or even academic sectors. The only feedstock input is water.
H3 Dynamics has been working on a first transatlantic hydrogen-electric flight using liquid hydrogen storage systems currently being tested in France with ISAE-SUPAERO in Toulouse. Last week H3 Dynamics announced its hydrogen propulsion partnership with French airship maker HyLight, and the week prior with Australian VTOL UAV producer Carbonix whose airframes are made by Quickstep - Australia’s leading aerospace composites producer.
2023 will see more of these announcements as H3 Dynamics continues to transition battery-UAS manufacturers to hydrogen technologies. Compared to batteries, hydrogen electric systems increase battery-drone flight durations by several orders of magnitude, opening to many new possibilities in a market that is expected to grow five-fold to $100B by 2030.
H2FIELD-1 marks the start of H3 Dynamics’ foray into hydrogen infrastructure solutions for small, unmanned and increasingly large aircraft, from airfields to airports - with increasingly large output power and hydrogen storage capabilities.
“We are the evolutionary starting point to increasingly large hydrogen powered flight platforms, where testing, certification and regulatory approval challenges vary based on aircraft weight. We want to mature hydrogen technology in today’s existing uncrewed aviation market - and that includes working out hydrogen logistics and refueling systems,” says Taras Wankewycz, CEO and co-Founder at H3 Dynamics.
About H3 Dynamics www.h3dynamics.com
H3 Dynamics is on a mission to decarbonize aviation. While the commercial opportunities around passenger-scale hydrogen aviation propulsion will take many more years to mature, the company is following a “start small” product and services roadmap that solves safety, technical, regulatory challenges by adding scale, weight and complexity over time. The company employs 94 team members from its 3 regional headquarters in Toulouse, Austin and Singapore. H3 Dynamics is a member of the Alliance for Zero Emission Aviation under the European Commission, Sustainable Aero Lab, the Lufthansa Cleantech Hub, the Paris Advanced Air Mobility Alliance, and Aerospace Valley in Toulouse.
Taras Wankewycz
CEO, H3 Dynamics
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www.h3dynamics.com
EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary fourth quarter 2022 earnings results after the market close on Wednesday, February 1, 2023, followed by a conference call at 10:00 a.m. CT on Thursday, February 2, 2023. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,700 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 240 among Fortune 500 companies.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Senior Investor Relations Analyst
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Holdings, Co. (NYSE: CR) announces the following schedule and teleconference information for its fourth quarter 2022 earnings release:
About Crane Holdings, Co.
Crane Holdings, Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products and solutions to customers across end markets including aerospace, defense, chemical and petrochemical, water and wastewater, payment automation, and banknote security and production, as well as for a wide range of general industrial and consumer applications. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials. Crane has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced multiple solar project awards with an estimated value of $290 million. The contracts were secured by the Company’s Energy/Renewables Segment in the fourth quarter of 2022.
“These awards align with our market strategy by expanding our presence in new geographies and diversifying our scope of work with smaller utility-scale solar projects,” said Tom McCormick, President and Chief Executive Officer of Primoris. “We prioritize supporting the needs of our clients and these awards demonstrate the value our customers place on our services.”
The awards are for the engineering, procurement and construction of utility-scale solar facilities in the Midwest. The primary scope of this award includes all civil, electrical and mechanical work. Initial construction will begin in the first quarter of 2023 with completion expected in the second quarter of 2024.
About Primoris
Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, power delivery systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.prim.com.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including the Company’s future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “will”, “would” or similar expressions. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of regulation and the economy, generally. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results may differ materially as a result of a number of factors, including, among other things, the risks described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021, and our other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Blake Holcomb
Vice President, Investor Relations
214-545-6773
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DUBLIN--(BUSINESS WIRE)--The "North America Utilities Asset Management Market Size, Share & Industry Trends Analysis Report by Component, Utility Type, Application (Transmission & Distribution Lines, Sub-station, and Others), Country and Growth Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The North America Utilities Asset Management Market should witness market growth of 9.7% CAGR during the forecast period (2022-2028).
There are many facilities where electric, gas, and water use are monitored. Their usefulness is reflected in their bills since they generate enormous costs. The program for managing assets can record daily use. It permits administrators to establish a daily restriction. When this daily limit is going to be exceeded, a notification is sent to the management. This program also gives utility usage data and analyses.
These studies assist in identifying cost-effective methods for reducing utility use. Developing budget projections using historical utility use data. Future utility usage can be estimated for utility management. The reports contain statistics, and the data may be used to save money and prevent wastage or excessive utility consumption.
Asset Management is the systematic process of running, maintaining, improving, and disposing of assets while maintaining satisfactory customer service. The mission of NHDES is to offer a centralized site to give communities information, technical help, and financing possibilities to aid in the establishment of sustainable asset management programs (AMP).
According to the 2017 electric power sector study conducted by the U.S. Energy Information Administration (EIA), about 3,000 electric distribution businesses or utilities were operating in the United States. Included under the category of publicly owned utilities, or POUs, are federal, state, and municipal utilities. In addition to government institutions, political subdivisions may establish POUs, also known as public utility districts, which are utilities voted into existence by citizens and that function independently of city or country administration. Each POU in the United States serves an average of 12,100 electrical users which propels the growth of the utilities asset management market in this region.
The US market dominated the North America Utilities Asset Management Market by Country in 2021; thereby, achieving a market value of $1,956.8 million by 2028. The Canada market is experiencing a CAGR of 12.2% during (2022-2028). Additionally, The Mexico market would exhibit a CAGR of 11.2% during (2022-2028).
Based on Component, the market is segmented into Hardware (Sensors, Cameras, and Others), Software, and Services. Based on Utility Type, the market is segmented into Public Utilities and Private Utilities. Based on Application, the market is segmented into Transmission & Distribution Lines, Sub-station, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market.
Key companies profiled in the report include
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 The Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Acquisitions and Mergers : 2020, Nov - 2022, Aug) Leading Players
Chapter 4. North America Utilities Asset Management Market by Component
4.1 North America Hardware Market by Country
4.2 North America Utilities Asset Management Market by Hardware Type
4.2.1 North America Sensors Market by Country
4.2.2 North America Cameras Market by Country
4.2.3 North America Others Market by Country
4.3 North America Software Market by Country
4.4 North America Services Market by Country
Chapter 5. North America Utilities Asset Management Market by Utility Type
5.1 North America Public Utilities Market by Country
5.2 North America Private Utilities Market by Country
Chapter 6. North America Utilities Asset Management Market by Application
6.1 North America Transmission & Distribution Lines Market by Country
6.2 North America Sub-station Market by Country
6.3 North America Others Market by Country
Chapter 7. North America Utilities Asset Management Market by Country
7.1 US Utilities Asset Management Market
7.1.1 US Utilities Asset Management Market by Component
7.1.1.1 US Utilities Asset Management Market by Hardware Type
7.1.2 US Utilities Asset Management Market by Utility Type
7.1.3 US Utilities Asset Management Market by Application
7.2 Canada Utilities Asset Management Market
7.3 Mexico Utilities Asset Management Market
7.4 Rest of North America Utilities Asset Management Market
Chapter 8. Company Profiles
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New Additions Join Experienced Leadership Team Focused on Growth
SAN JOSE, Calif.--(BUSINESS WIRE)--Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that offers transportation and other in-space infrastructure services, today announced that Chris Kinman will join Momentus as Chief Commercial Officer effective January 9 and Dennis Mahoney will serve as Interim Chief Financial Officer effective January 7.
"Chris and Dennis' careers show a track record of results in energizing growth and building trusted relationships with key government, civil, and commercial customers," said Momentus Chief Executive Officer John Rood. "Their expertise will guide our sales and financial teams as the Company seeks to meet the growing demand for in-space transportation and infrastructure services and create value for our shareholders."
Kinman brings more than 30 years of experience in business development, engineering, program management, capture management, and driving growth in the defense and civil government and commercial space sectors. Most recently, Kinman served as a Senior Business Development Executive for Northrop Grumman's Space Sector. In this role, he led the business development team in the capture of Intelligence Community and DoD space opportunities, working directly with USG end users, including the Space Development Agency, Space Force, and U.S. Army. He successfully led and helped capture multiple satellite and payload opportunities at Northrop, valued at several billion dollars in total contract value.
"I am both delighted and honored to join the Momentus team during such an exciting time for the Company with the continued growth in the space infrastructure services market," said Kinman. "I look forward to applying my expertise in the space and government sectors to develop innovative solutions for our customer base and meet Momentus' growth vision to make space sustainable for future generations."
Mahoney is a seasoned professional with over 40 years of experience, including serving as CFO or senior financial executive of six public companies listed on the NYSE, NASDAQ, and ASX. He has negotiated and closed four acquisitions in the United States and Europe, and one company sale. Mahoney has deep experience in defining financial strategy, scaling operations, and driving profitable growth across a spectrum of companies in the technology, semiconductor, pharmaceutical, and medical device industries, including startups through organizations with $1.5 billion in revenue. In these roles, Mahoney has enabled international expansions, led operations, licensed products, led government compliance, and defined global tax strategy. He has closed over $450 million in equity and debt financing, including IPOs and private equity. Mahoney is the founder and CEO of SequoiaCFO, where he provides executive financial consulting services to global clients. In this role, he has helped a range of tech companies grow and expand internationally.
"I am honored and pleased to be joining the extraordinary team at Momentus in its critical mission of providing transportation and other in-space infrastructure services to support a thriving space economy,” said Mahoney. “Momentus is a company with great potential impact. I look forward to helping the Momentus team in every way that I can as interim CFO to advance its mission in advancing how the world operates in space.”
About Momentus
Momentus is a U.S. commercial space company that offers in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.
Forward-Looking Statements
This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the “Risk Factors” in the Proxy Statement/Prospectus filed by the Company on July 23, 2021, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Investors
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DUBLIN--(BUSINESS WIRE)--The "Renewable Energy Market by Type and End User - Global Opportunity Analysis and Industry Forecast, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
Renewable Energy Market size was valued at USD 856.08 billion in 2021 and is predicted to reach USD 2,025.94 billion by 2030 with a CAGR of 9.6% during the forecast period from 2022 to 2030.
Demand for sustainable energy has increased across the world owing to factors such as the growing concerns related to climate change and increasing pollution levels. In addition, the decline in the cost of solar panels serves as a great contribution to an increase in the use of solar energy, which fuels the renewable energy industry growth.
However, the high initial capital investments and lack of resources in several countries are expected to hamper the market growth. On the contrary, technological advancements in solar PV manufacturing and solving intermittency problems using energy storage systems are expected to create ample opportunities for the key players operating in the renewable energy market during the coming decade.
Segment Overview
The global renewable energy industry is segmented on the basis of type, end user, and geography.
Recent Developments
September 2022
GE Renewable Energy received orders from Continuum Green Energy Limited in order to supply, install, and commission 81 of its 2.7-132 onshore wind turbines for the 218.70 MW wind power projects spread across India. These projects aim to power various industries and commercial establishments in Tamil Nadu and Madhya Pradesh, India.
September 2022
GE Renewable Energy received orders from Continuum Green Energy Limited in order to supply, install, and commission 81 of its 2.7-132 onshore wind turbines for the 218.70 MW wind power projects spread across Tamil Nadu and Madhya Pradesh, India.
August 2022
The Italian energy agency, Gestore dei Servizi Energetici (GSE) launched a 1.5 billion euro rebate scheme aimed at helping farming businesses install rooftop PV systems on agricultural buildings. The Italian government is expected to deploy 375 MW of new solar PV capacity through this program.
July 2022
Moroccan Agency for Sustainable Energy (MASEN) launched a tender to seek Engineering, Procurement, and Construction (EPC) contractors for its Noor Atlas solar program. The call for expression of interest seeks to construct several solar photovoltaic plants across several regions in Africa.
February 2022
ABB collaborated with IBM and Worley to sign a memorandum of understanding on helping energy companies build and operate green hydrogen facilities more efficiently and at scale. The planned three-party partnership intends to create an integrated, digitally enabled solution enabling facility owners to construct green hydrogen assets more rapidly, affordably, and safely, and to operate them more efficiently.
January 2022
A new utility-scale solar power project, Fox Coulee Solar Project was unveiled in Alberta, Canada. The 85.6-MW solar PV power project was planned and developed by two companies, Aura Power Developments and Subra GP, in a single phase. Its construction was started in 2022 and is expected to be in service by 2023
December 2021
Solar Philippines Nueva Ecija Corporation started the construction of its 500 MWp Nueva Ecija solar farm in Centrl Luzon, Philippines. The plant is expected to be constructed in phases, and the first 50 MWp solar farm is slated to go online by the end of 2022
Market Dynamics
Drivers
Restraints
Opportunities
Companies Mentioned
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) today announced that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), has priced a public offering of $1.75 billion aggregate principal amount of notes comprised of (i) $750 million principal amount of senior notes due January 10, 2026 (“Senior Notes FFF”), and (ii) $1.0 billion principal amount of senior notes due January 31, 2033 (“Senior Notes GGG”).
Enterprise expects to use the net proceeds of this offering for (i) general company purposes, including for growth capital investments, and (ii) the repayment of debt (including the repayment of all or a portion of its $1.25 billion principal amount of 3.35% Senior Notes HH due 2023 at their maturity in March 2023 and amounts outstanding under its commercial paper program).
Senior Notes FFF will be issued at 99.893% of their principal amount and will have a fixed-rate interest coupon of 5.05%. Senior Notes GGG will be issued at 99.803% of their principal amount and will have a fixed-rate interest coupon of 5.35%. Enterprise Products Partners L.P. will guarantee the senior notes through an unconditional guarantee on an unsecured and unsubordinated basis. Settlement of the offering is expected to occur on January 10, 2023.
J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC acted as joint book-running managers for the offering. An investor may obtain a free copy of the prospectus as supplemented for the offering by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, EPO or any underwriter or dealer participating in this offering will arrange to send a prospectus as supplemented to an investor if requested by contacting J.P. Morgan Securities LLC at (212) 834-4533, BofA Securities, Inc. at (800) 294-1322, Morgan Stanley & Co. LLC at (866) 718-1649, or RBC Capital Markets, LLC at (866) 375-6829.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described in this press release, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity.
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DUBLIN--(BUSINESS WIRE)--The "Managed Pressure Drilling Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Managed Pressure Drilling Services estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2027, growing at a CAGR of 3.6% over the analysis period 2020-2027.
Constant Bottom Hole Pressure, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$2.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Mud Cap Drilling segment is readjusted to a revised 2.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 3.4% CAGR
The Managed Pressure Drilling Services market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2027 trailing a CAGR of 3.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Dual Gradient Drilling Segment to Record 3.2% CAGR
In the global Dual Gradient Drilling segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$634.4 Million in the year 2020 will reach a projected size of US$796.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Select Competitors (Total 12 Featured) -
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
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LOS ANGELES--(BUSINESS WIRE)--OpenGate Capital, a global private equity firm, announced today that Mr. Edouard Guinotte has been appointed to Aluminium Solutions Group, “ASG” as President and Chief Executive Officer.
ASG is a new group which was formed in September 2022 through the acquisitions of Aluminium France Extrusion (AFE) and Extrusiones de Toledo (“EXTOL”), portfolio companies of OpenGate Capital.
Prior to joining ASG, Guinotte was Vallourec Group’s (listed on Paris’ SBF 120) Chairman and CEO until March 2022, a world leader in seamless steel pipe for the energy and industrial markets. During his over-25 years career, Guinotte held various positions at Vallourec, both operational and functional, in France and overseas. Guinotte led Vallourec USA Corporation, its’ commercial and distribution subsidiary, based in Houston, TX, from 2011 to 2014, and joined the group’s Executive Committee in 2017 to run the Middle East-Asia Region, based in Dubai, UAE, until 2019.
Guinotte is a graduated engineer from Ecole des Mines de Paris and holds INSEAD’s Management Advancement Program. Guinotte is looking forward to dedicating his experience and energy to make ASG a new European leader in aluminium extruded profiles. Until a new ASG website is launched, more can be learned about the business here, www.afextrusion.com and www.extol.es.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
OpenGate Media Contacts:
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HAMILTON, Bermuda--(BUSINESS WIRE)--Everen Limited (”Everen”) announced today that George F. Hutchings, Senior Vice President and Chief Operating Officer, will retire at the end of 2023. Robert J. Foskey, Senior Vice President and Chief Actuary, will succeed Mr. Hutchings as Chief Operating Officer, effective April 1, 2023. Mr. Hutchings will remain at Everen for the balance of 2023 as Special Advisor.
John Weisner, Everen’s Chairman, said: “On behalf of the Board of Directors, the management team, and all of Everen’s employees, I want to thank George for the tremendous impact he has had on the organization over the past 18 years. A steadfast and strategic leader, George played a significant role in transforming the mutual insurer, including, the establishment of a highly cost effective capital structure, the introduction of a revised pricing methodology, the launch of a new way to cover windstorm losses, the creation of online data analytics for the membership, the development of several strategic plans and the full renaming and rebranding of the organization. The Board is sincerely grateful to George for his dedication to Everen and wishes him all the best in the next chapter of his life.
“While we will miss George, we are thrilled to welcome Rob to his new position in the organization. Since joining Everen in 2007, Rob has played an integral role in the company’s ongoing growth and I know that this track record of success will continue when he takes over as COO."
According to Bertil C. Olsson, President and Chief Executive Officer, “Since George joined the organization in 2005, Everen and the leadership team have grown the company’s capital base from $800 million to almost $3.5 billion today, using a conservative investment and capital management strategy. We have also added 33 new member insureds. During that same period, Everen returned value to its members by paying close to $3 billion in dividends. I am looking forward to working with Rob in his new role and am confident that he is the best choice for Everen’s next COO, as he continues to be an invaluable member of the senior leadership team.”
Mr. Foskey’s selection is the culmination of a robust, multi-year leadership development and succession planning process led by the Board. Weisner added that “Rob was the natural choice to succeed George given his significant involvement in virtually all of the improvements made to Everen over the past 17 years. As Chief Actuary, Rob has been a key member of the leadership team and has demonstrated a strong ability to help move the organization forward. The Board is confident Rob will be a very effective leader of Everen and will continue to drive the company to further success.”
Mr. Hutchings said, "It has been an honor to serve as COO of Everen during this period of transformation and growth, and I want to offer my sincere thanks to our employees whose hard work and dedication have allowed us to achieve so much. I also want to thank our shareholders, my colleagues in our leadership team and the Board of Directors for their ongoing support. I have worked with Rob for many years and he is an excellent choice to take the reins as COO of Everen. I look forward to working closely together for the balance of the year to ensure a smooth transition."
"I want to thank George for his contributions to Everen over the past 18 years and the Board for its confidence as I step into this role," said Mr. Foskey. "I am honored and excited to have the opportunity to work with our talented leadership team and employees to build upon the company’s success and continue to advance Everen’s position as a leader in the global energy insurance industry."
Headquartered in Bermuda, Everen Limited is the insurer of choice for the world’s leading energy companies, insuring almost $4 trillion of global energy assets. The company was established in 1972 as a mutual insurer, an innovative structure whereby its policyholders are also its shareholders and coverage is provided at cost. Everen offers its shareholders per occurrence property limits of up to $450 million across an extensive range of energy industry assets – from traditional oil and gas through to alternative industry segments such as renewables. Everen’s shareholders consist of medium to large sized energy companies in both the public and private sectors with a minimum of $1 billion per shareholder in physical property assets and an investment grade rating or equivalent. Everen is rated A by S&P and A2 by Moody’s.
For further information about the company, please visit Everen.bm
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DUBLIN--(BUSINESS WIRE)--The "Research Report on China's Solar Cell Export 2023-2032" report has been added to ResearchAndMarkets.com's offering.
China is the world's leading exporter of solar cells, exporting a large number of solar cells every year. According to the publisher's analysis, in 2021, China exported 3.201 billion solar cells, up 17.56% year-on-year, with an export value of US$28.460 billion, up 43.79% year-on-year. From January to October 2022, China exported 3.294 billion solar cells, up 24.06% year-on-year, with an export value of US$40.033 billion, up 75.58% year-on-year.
In 2018-2022, the average price of China's solar cell exports showed an overall change trend of first decrease and then increase. In 2018-2020, the average price of China's solar cell exports fell continuously, from US$12.18 each in 2018 to US$7.27 each in 2020. In 2021-2022, the average price of China's solar cell exports rose continuously. From January to October 2022, the average price of China's solar cell exports was US$12.15 each, up 41.53% year-on-year.
In 2021, China exported solar cells to more than two hundred countries and regions around the world. The publisher's analysis shows that India, Turkey, Vietnam, South Korea, Germany, Malaysia, Cambodia, Thailand, the Netherlands and the Philippines are China's major solar cell export destinations by export volume. Among them, India is the largest exporter of solar cells from China.
In 2021, China exported 868 million solar cells to India, accounting for 27.11% of the total solar cell exports in that year, with an export value of US$3.914 billion, accounting for 13.75% of the total export value. By export value, then the Netherlands is the largest country in China's solar cell exports, and in 2021, China's solar cell exports to the Netherlands amounted to US$5.990 billion, accounting for 21.05% of the total exports.
China is a major global producer and exporter of solar cells, and the publisher expects China's solar cell exports to continue to rise from 2023-2032 as the global new energy sector grows.
Topics covered:
Key Topics Covered:
1. 2018-2022 China Solar Cell Export Analysis
1.1. China's Solar Cell Export Scale
1.1.1. China's Solar Cell Export Volume
1.1.2. China's Solar Cells Export Value
1.1.3. China Solar Cells Export Price
1.2. China's Main Export Destinations of Solar Cells
1.2.1. By Export Volume
1.2.2. By Export Value
2. 2018-2022 China's Export Analysis of Monocrystalline Silicon Solar Cells
2.1. Export Volume of Monocrystalline Solar Cells
2.2. Export Value of Monocrystalline Solar Cells
2.3. Export Price of Monocrystalline Solar Cells
2.4 Export Destinations of Monocrystalline Solar Cells
2.4.1. By Export Volume
2.4.2. By Export Value
3. 2018-2022 China Polycrystalline Solar Cells Export Analysis
3.1. Export Volume of Polycrystalline Solar Cells
3.2. Export Value of Polycrystalline Solar Cells
3.3. Export Price of Polycrystalline Solar Cells
3.4 Export Destinations of Polycrystalline Solar Cells
3.4.1. By Export Volume
3.4.2. By Export Value
4. 2018-2022 China Amorphous Silicon Thin Film Solar Cells Export Analysis
4.1. Export Volume of Amorphous Silicon Thin Film Solar Cells
4.2. Export Value of Amorphous Silicon Thin Film Solar Cells
4.3. Export Price of Amorphous Silicon Thin Film Solar Cells
4.4. Export Destinations of Amorphous Silicon Thin Film Solar Cells
4.4.1. By Export Volume
4.4.2. By Export Value
5. 2018-2022 China Other Solar Cells Export Analysis
5.1. Other Solar Cells Export Volume
5.2. Other Solar Cells Export Value
5.3. Other Solar Cells Export Price
5.4. Other Solar Cells Export Destinations
5.4.1. By Export Volume
5.4.2. By Export Value
6. 2018-2022 China Solar Cells Major Export Destinations Analysis
6.1. India
6.2. Turkey
6.3. Vietnam
6.4. South Korea
6.5. Germany
6.6. Netherlands
6.7. Other Export Destinations
7. China's Export Outlook for Solar Cells, 2023-2032
7.1 Factors Affecting China's Solar Cell Exports
7.1.1 Favorable Factors
7.1.2. Unfavorable Factors
7.2. China's Solar Cell Export Forecast, 2023-2032
7.2.1. Export Volume Forecast
7.2.2. Major Export Destinations Forecast
7.2.3. Major Exported Solar Cell Types Forecast
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Laura Wood, Senior Press Manager
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EASTON, Md.--(BUSINESS WIRE)--$WULF #Bitcoin--TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, is pleased to release the following open letter to shareholders, lenders and other stakeholders from Paul Prager, TeraWulf’s Chairman and Chief Executive Officer.
The full text of the letter is as follows:
An Open Letter from TeraWulf Chairman and CEO Paul Prager
January 2023
This past year was a transformational year for TeraWulf and the crypto industry at large. Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. Importantly, I want to thank our loyal investors and fellow WULFpack members for sticking with us through an unimaginably challenging year.
Be assured that I am here with you and will continue to personally invest in TeraWulf. This past year, our management team invested over $15 million of our personal capital in the Company. I believe that is more than any leadership team in the sector and underscores our confidence in WULF’s mission and what we are building. As further evidence of my conviction, I have not sold a share, directly or indirectly.
Despite the turbulent backdrop, we remained steadfastly focused on building a scalable, vertically integrated Bitcoin mining company that uses low-cost, 91%+ zero-carbon energy. I’d like to take a moment to highlight a few of key milestones that we achieved during our first year as a public company.
What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. Power volatility in 2022 underscored the importance of power contracts. This has been our business for over 30 years. As a nearly entirely zero-carbon miner, we believe we are strategically positioned relative to our peers in what will be an increasingly stringent regulatory environment.
While there has been significant progress this year, much more remains to be done. As we transition into 2023 and strive to execute our plan and pursue growth, we will operate with several clear priorities:
So, I will close where I started – with a sincere thank you. Your trust and confidence in TeraWulf have helped us build a remarkable company.
Sincerely,
Paul Prager
Chairman and Chief Executive Officer
About TeraWulf
TeraWulf (Nasdaq: WULF) owns and operates vertically integrated environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company is currently operating and constructing two mining facilities, Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania, with the objective of 800 MW of mining capacity deployed by 2025. TeraWulf generates domestically produced bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. With a core focus of ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (8) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (9) employment workforce factors, including the loss of key employees; (10) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; (11) the ability to recognize the anticipated objectives and benefits of the business combination; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io).
Company Contact:
Sandy Harrison
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(410) 770-9500
DUBLIN--(BUSINESS WIRE)--The "Research Report on China's Wind Turbine Export 2023-2032" report has been added to ResearchAndMarkets.com's offering.
With the global vigorous development of renewable energy, the installed capacity of wind power generation is rising, which has boosted China's wind turbine exports. In 2021, China exported 44,000 wind turbines, up 6.99% year-on-year, with an export value of US$1.437 billion, up 29.56% year-on-year. From January to October 2022, China exported 66,400 wind turbines, up 89.06% year-on-year, with an export value of US$894 million, down 30.91% year-on-year.
In 2018-2022, the average price of China's wind turbine exports showed an overall fluctuating trend of change. According to the publisher's analysis, in 2021, the average price of China's wind turbine exports was US$32,600 per unit, up 21.10% y-o-y. From January to October 2022, the average price of China's wind turbine exports fell sharply to US$13,500 per unit, down 63.46% y-o-y.
In 2021, China exported wind turbines to more than one hundred countries and regions. The publisher's analysis shows that by export volume, the United States, Belgium, Poland, the Netherlands, the United Kingdom, Australia, Germany, Canada, Hungary and Vietnam are China's major wind turbine export destinations. Among them, the United States is the largest exporter of wind turbines from China.
In 2021, China exported 11,200 wind turbines to the U.S., accounting for 25.50% of the total wind turbine exports in that year, and the export value was only US$1,899,500, accounting for 0.13% of the total export value. In 2021, China's wind turbine exports to Vietnam amounted to US$711 million, accounting for 49.46% of the total exports.
China is an important global producer and exporter of wind turbines, and the Chinese wind power industry covers technology development, equipment supply, wind farm construction, etc. The publisher expects that China's wind turbine exports are expected to continue to rise from 2023-2032 as the global wind power industry develops.
Topics covered:
Key Topics Covered:
1. 2018-2022 China's Wind Turbine Export Analysis
1.1. China's Wind Turbine Export Scale
1.1.1. China's Wind Turbine Export Volume
1.1.2. China's Wind Turbine Export Value
1.1.3. China's Wind Turbine Export Price
1.2. China's Main Export Destinations of Wind Turbines
1.2.1. By Export Volume
1.2.2. By Export Value
2. 2018-2022 China Rated Speed Wind Turbine Export Analysis
2.1 Rated Speed Wind Turbine Export Volume
2.2. Rated Speed Wind Turbine Export Value
2.3. Export Price of Rated Speed Wind Turbine
2.4 Analysis of Various Types of Rated Speed Wind Turbine Exports
2.4.1. Rated Speed Wind Turbine Export Volume by Type
2.4.2. Export Value of Rated Speed Wind Turbines by Type
2.4.3. Export Price of Rated Speed Wind Turbines by Type
2.5 Rated Speed Wind Turbine Export Destinations
2.5.1. By Export Volume
2.5.2. By Export Value
3. 2018-2022 China Export Analysis of Restricted Variable Speed Wind Turbines
3.1. Export Volume of Restricted Variable Speed Wind Turbine
3.2. Export Value of Restricted Variable Speed Wind Turbine
3.3 Export Price of Restricted Variable Speed Wind Turbine
3.4 Export Analysis of Various Types of Restricted Variable Speed Wind Turbines
3.4.1 Export Volume of Various Types of Restricted Variable Speed Wind Turbines
3.4.2. Export Value of Various Types of Restricted Variable Speed Wind Turbines
3.4.3. Export Price of Various Types of Restricted Variable Speed Wind Turbines
3.5 Restricted Variable Speed Wind Turbine Export Destinations
3.5.1. By Export Volume
3.5.2. By Export Value
4. 2018-2022 China Variable Speed Wind Turbine Export Analysis
4.1. Variable Speed Wind Turbine Export Volume
4.2. Variable Speed Wind Turbine Export Value
4.3. Variable Speed Wind Turbine Export Price
4.4 Analysis of Variable Speed Wind Turbine Exports by Type
4.4.1. Variable Speed Wind Turbine Export Volume by Type
4.4.2. Variable Speed Wind Turbine Export Value by Type
4.4.3. Variable Speed Wind Turbine Export Price by Type
4.5. Variable Speed Wind Turbine Export Destinations
4.5.1. By Export Volume
4.5.2. By Export Value
5. 2018-2022 China Wind Turbine Major Export Destinations Analysis
5.1. United States
5.2. Belgium
5.3. Poland
5.4. Netherlands
5.5. United Kingdom
5.6. Vietnam
5.7. Other Export Destinations
6. China's Export Outlook for Wind Turbines, 2023-2032
6.1 Factors Affecting China's Wind Turbine Exports
6.1.1 Favorable Factors
6.1.2. Unfavorable Factors
6.2. China's Wind Turbine Export Forecast, 2023-2032
6.2.1. Export Volume Forecast
6.2.2. Major Export Destinations Forecast
6.2.3. Major Export Types of Wind Turbines Forecast
For more information about this report visit https://www.researchandmarkets.com/r/e2th2f
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Laura Wood, Senior Press Manager
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