Company will target the offshore U.S. wind market
HOUSTON--(BUSINESS WIRE)--Bleutec Industries LLC (“Bleutec”), builder, owner, and operator of Jones Act-compliant offshore wind turbine installation vessels, today announced that it has secured a significant capital commitment from EnCap Investments L.P. (“EnCap”), a leading provider of equity capital to the independent sector of the U.S. energy industry. Bleutec management will invest alongside EnCap in the company.
Headquartered in Houston, Bleutec is focused on its innovative Binary Marine Installation Solution (“BMIS”), which enables a cost-effective alternative to the more expensive heavy-lift jack-up Wind Turbine Installation Vessels (“WTIV”) currently being employed by the offshore wind sector for foundation and turbine installation. The BMIS will be built around a Piling Installation Vessel (“PIV”), a Wind Turbine Installation Vessel Light (“WTIVL”), and Service Operation Vessels (“SOV”). The PIV will feature a gantry crane, capable of lifting up to 4,500 metric tons, a hydraulic hammer, and deck space for the piles. The WTIVL will install wind turbines of up to ~22 megawatts on the foundations and the SOVs will provide the necessary accommodation and crew support services.
“We’re excited to partner with Bleutec and help accelerate the management team’s vision to innovate in the deployment of renewables to the U.S. offshore wind sector,” said EnCap Energy Transition Managing Partner Tim Rebhorn. “The Bleutec team is a natural fit with the EnCap Energy Transition portfolio and we look forward to their continued growth and success.”
“Partnering with EnCap, a strategic capital provider with a strong track record facilitating portfolio company growth, provides the necessary support for Bleutec to quickly develop our Jones Act vessels in order to build our competitive advantage in this nascent market,” said Bleutec Chief Executive Officer and Founder Robin Bodtmann.
The Bleutec team is led by Robin Bodtmann and Bo Jardine, both of whom have extensive engineering, construction, and project management experience in the U.S. offshore industry. Bodtmann founded Bleutec in 2019 and serves as the Chief Executive Officer and President. Prior to Bleutec, Bodtmann was the Vice President of Strategy and Development at Wood Group where she oversaw engineering, procurement, and construction, and operations and maintenance for the Americas. Jardine serves as the Chief Innovation Officer and has 20 years of experience in various offshore marine applications, most recently serving as a Supply Chain Manager at Shell where he led the global commercial strategy for offshore marine logistics. In that role he oversaw offshore vessel design and construction, logistics activities, port facility development, and marine technologies.
PPHB LP served as financial advisor and Jones Walker as legal advisor to Bleutec. Sidley Austin served as legal advisor to EnCap.
About Bleutec Industries
Bleutec’s mission is to bring together industry leaders and mentors to garner the collective capability and expertise to deliver innovative, comprehensive transportation and installation project services for offshore wind developments. For more information, please visit www.bleutecindustries.com.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 23 institutional investment funds totaling approximately $39 billion and currently manages capital on behalf of more than 350 U.S. and international investors. Founded in 2019, the EnCap Energy Transition platform is led by four Managing Partners, each with 30-35 years of experience in the development and operations of renewables and power generation. For more information, please visit www.encapinvestments.com.
Meredith Hargrove Howard
Redbird Communications Group
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Group emerges as new polling shows strong support for offshore wind
WASHINGTON--(BUSINESS WIRE)--Turn Forward, an independent, non-profit offshore wind advocacy organization, launched today to advance a shared, multi-stakeholder vision for American offshore wind power that meets today’s climate, economic, equity and environmental challenges. The new organization will work with a broad array of stakeholders to build momentum for policies and projects that significantly expand offshore wind generation, deliver game-changing benefits to workers and communities, and protect marine and coastal resources.
Turn Forward’s launch comes as new poll results show strong support for offshore wind development, even among U.S. residents in coastal communities who stand to be most directly impacted by the emerging energy source. Conducted by Nexus Polling, the poll found that seven in 10 coastal voters support expanding offshore wind energy, with majorities seeing it as beneficial for addressing climate change and improving the economy. When respondents were asked whether they support expansion in places near where they live, support remained strong, with two-thirds in favor. 78% of respondents said visible offshore wind turbines 10 to 15 miles offshore would not change their desire to visit the beach or would make them more likely to visit. Most projects will be 15 miles or further from shore.
Turn Forward will be led by 12-year U.S. offshore wind veteran Stephanie McClellan, who founded and led the Special Initiative on Offshore Wind, which helped create the original policy pipeline for offshore wind power in the U.S. McClellan also held offshore wind leadership roles across state government, philanthropy-funded initiatives, and industry entities.
“Offshore wind is a once-in-a-lifetime opportunity for this country,” said McClellan. “It brings game-changing potential to increase clean, domestic energy production over the next decade, a critical component of America’s climate strategy. The industrial-scale development needed to build this resource can create an enormous number of enduring jobs, while helping transform communities that have borne the brunt of our historic reliance on fossil fuels.”
Turn Forward aims to work with the federal government and states to have created by 2025 a path toward generating 100+ gigawatts of offshore wind power, with strong policies in place to maximize benefits to communities and workers and ensure environmental protections as the renewable energy source is developed.
“Turn Forward will undertake a collaborative and comprehensive advocacy effort to make sure that the necessary policies, education and ground-level enthusiasm are in place to get this incredible resource built up—and built right,” said McClellan. “Our goal is to raise awareness of the transformational potential of offshore wind and work with allies across the country to drive actions that capture the potential of the unique opportunity in our midst.”
The Climate Nexus poll also revealed that a majority of respondents believe offshore wind is reliable, and expressed support for their public utilities to develop renewable energy. A majority also indicated little to no concern about the impacts of its development on tourism, ocean views, or their quality of life, with opinions divided about concern over impacts on recreational and commercial fishing. Over 50% of respondents indicated they had seen, read or heard very little or nothing about offshore wind energy in U.S. waters. The poll sampled residents along the east, west and Gulf coasts of the U.S.
Turn Forward’s Board of Advisors draws from a variety of perspectives with a stake in the outcome of offshore wind development. Founding Board members include Eddie Ahn, Executive Director of Brightline Defense; Mike Fishman, President and Executive Director of Climate Jobs National Resource Center; Collin O'Mara, President and CEO of the National Wildlife Federation (NWF); and Manish Bapna, President and CEO of NRDC (Natural Resources Defense Council).
“As we look toward the federal offshore wind auction for lease areas off California’s coast next week, with more coming in the Gulf and on the east coast, it’s clear the time is right for Turn Forward to enter the scene,” said Eddie Ahn of Brightline Defense. “Offshore wind’s ability to help address climate change in the near term may be unmatched, but those high expectations come with tremendous responsibility. Communities at the frontlines of the fossil-fuel economy could experience revitalization from offshore wind, and Turn Forward will help to achieve the real potential of this industry.”
“Offshore wind has huge potential for our climate, workers, and economy,” said Mike Fishman of Climate Jobs National Resource Center. “In communities across the country, unions are advancing a powerful pro-worker vision for offshore wind. The sheer scale and geographic potential of offshore wind in the U.S. calls for a domestic supply chain powered by millions of union jobs that revitalizes communities and reverses inequality. Turn Forward will play a critical role in deepening support for offshore wind policies that will build a more equitable, worker-centered economy.”
“More than any renewable resource emerging today, offshore wind can produce an enormous amount of clean, zero-emission electricity near major population centers,” said Collin O’Mara of the National Wildlife Federation. “We all have a role to play in making certain that responsibly-developed offshore wind fulfills its potential and helps us reach our climate goals, while protecting wildlife, engaging communities, and supporting well-paying careers every step of the way. Turn Forward will help amplify the magnitude of this opportunity and build political will to advance policies that accelerate its growth in a responsible way.”
“Offshore wind is not just good for the environment—it’s good for our economy,” said Manish Bapna of NRDC. “When developed properly, offshore wind power can create well-paying jobs and help underserved communities hardest hit by our reliance on fossil fuels without endangering ocean ecosystems. Turn Forward will be key to harnessing the full potential of this valuable resource blowing right off our shores.”
For more information about Turn Forward, visit turnforward.org. The full results of the Climate Nexus / Turn Forward offshore wind poll can be found here.
Sydney Sanders
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NYSE to celebrate 99th annual Christmas tree lighting on November 30th
AUSTIN, Texas--(BUSINESS WIRE)--November 30 – Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that it has successfully delivered the New York Stock Exchange’s iconic Christmas tree for the 99th annual lighting ceremony, which will take place this evening, November 30th, from 2 pm – 6 pm ET. The NYSE Christmas tree has been a downtown New York mainstay since 1923. This is the first time an electric semi-truck has delivered the 18,000-pound Norway Spruce to the NYSE site in the city’s Financial District.
The Hyliion Hypertruck ERX, an electric powertrain that is recharged by an onboard natural gas generator, transported the approximately 80-foot tree from West Nyack, NY to Experience Square outside the exchange, where it will stay through the 2022 holiday season.
“This holiday season, Hyliion is pleased to continue its collaboration with the New York Stock Exchange by being part of this time-honored tradition and delivering some holiday cheer to Experience Square. The NYSE’s choice of Hyliion to transport the tree reflects the exchange’s focus on ESG and strong support for the sustainability initiatives of its community of listed companies,” said Thomas Healy, CEO of Hyliion.
“As the Hypertruck ERX powertrain moves towards production in 2023, Hyliion is deploying a series of vehicles in controlled fleet trials with some of the nation’s leading fleets. The semi-truck used to move the Christmas tree is one of these demo vehicles and now will continue to be showcased with fleets across the country," continued Healy.
“We were thrilled to see Thomas Healy pull up to 11 Wall Street and personally deliver this year’s NYSE Christmas tree in an electric truck, underscoring Hyliion’s commitment to building a sustainable future,” said Lynn Martin, President of the New York Stock Exchange. “At a moment when ESG is gaining increased attention, Hyliion told its story through action and helped to kick off our holiday celebration in a powerful way.”
This year marks the NYSE’s 99th annual Christmas tree lighting. The event will feature artists, organizations, and NYSE-listed companies, gathering to celebrate the New York City community and the season of giving.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions, the expected performance and integration of the KARNO generator and system, and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Ryann Malone
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Sharon Merrill Associates, Inc.
Nicholas Manganaro
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Global investment leader selects AWS as a preferred cloud provider to gain business insights, improve workplace safety, and automate hydroelectric, wind, and solar operations
Brookfield Renewable agrees to provide clean energy capacity to power Amazon’s operations on three continents
LAS VEGAS--(BUSINESS WIRE)--At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Brookfield Asset Management (NYSE: BAM, TSX: BAM.A), one of the world's leading investors in renewable power, has selected AWS as a preferred cloud provider to accelerate its digital transformation and become a more data-driven company in the cloud. Brookfield migrated its legacy systems to AWS and is using AWS’s analytics, containers, Internet of Things (IoT), machine learning, and storage capabilities, as well as AWS’s extensive partner network, to modernize its technology infrastructure, optimize operations, and boost innovation.
In addition to its agreement with AWS, Brookfield Renewable, a subsidiary of Brookfield Asset Management and one of the world’s largest publicly traded renewable power platforms, will provide 601.6 megawatts (MW) of clean wind and solar energy capacity to power Amazon’s operations in Europe, North America, and India. In total, these projects are expected to generate 1,370 gigawatt-hours (GWh), which is enough to power more than 120,000 U.S. homes per year.
“Our partnership with Amazon is a tremendously exciting example of companies working together to reach net zero,” said Ruth Kent, chief operating officer at Brookfield Renewable. “AWS is helping us modernize our operational systems, giving us the scalability, reliability, and innovation we need to deliver clean energy around the world. In return, Brookfield Renewable will provide renewable power to Amazon on three continents, which will help Amazon stay on path to power its operations with 100% renewable energy. We look forward to seeing what more this partnership can bring in the future.”
Working with AWS Professional Services, AWS Managed Service Provider (MSP) BDO Lixar, and AWS Partner Databricks, Brookfield Asset Management consolidated 40 petabytes of data in a data lake on AWS to optimize facility operations, increase production output, and improve equipment performance. Applying AWS machine learning and analytics capabilities to this data helps the company automate key aspects of its operations. These capabilities enable Brookfield to proactively manage complex commercial transactions, improve returns on assets, and reduce operating costs. Brookfield Asset Management also uses Databricks’ Lakehouse Platform on Amazon Simple Storage Service (Amazon S3) to provide a central data analytics platform that is increasing operational efficiency and reducing costs across more than 10 internal business organizations (including Trading, Risk, Origination, and Operations).
In addition, Brookfield Asset Management is implementing improved workplace safety technology, collaborating with AWS and AWS Partner Blackline Safety to provide real-time employee safety monitoring at three hydroelectric dam sites in the U.S. Employees wear Blackline’s G7 wearable safety devices, which rely on Amazon Kinesis (AWS’s service for easily collecting, processing, and analyzing video and data streams in real time) for high-speed streaming data ingestion of location and safety data into the cloud, and Amazon Redshift (AWS’s cloud data warehouse) to detect if an employee is in danger or needs assistance, thereby triggering an alert for supervisors to send help.
“Together with Brookfield Asset Management, we are advancing the use of renewable energy around the globe,” said Howard Gefen, general manager of Energy & Utilities at AWS. “Brookfield is tapping into the breadth and depth of AWS’s proven global infrastructure, services, and partner community to better harness its data, become more flexible and scalable, and gain better insights into its businesses. In addition, working with Brookfield Renewable will keep Amazon on the path to powering our operations with 100% renewable energy while adding more clean energy to grids around the world.”
The collaboration announced today keeps Amazon on track to power its operations with 100% renewable energy by 2025, five years ahead of its original 2030 commitment, and to reach net-zero carbon emissions by 2040. The committed 601.6 MW of power purchase agreements (PPAs) will provide electricity to seven Amazon projects—three in the United States (in Arkansas, Illinois, and Mississippi), three in Europe (in Spain, Northern Ireland, and Italy), and one of Amazon’s first projects in India.
About Amazon Web Services
For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud offering. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 96 Availability Zones within 30 geographic regions, with announced plans for 15 more Availability Zones and five more AWS Regions in Australia, Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
About Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000MW of installed capacity and an approximately 100,000MW development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.
Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $750 billion of assets under management.
Amazon.com, Inc.
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DUBLIN--(BUSINESS WIRE)--The "Norway Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Norway Renewable Energy Policy Handbook 2022 offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/611bl4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Experienced SaaS CxO Will Scale Company to Meet Growing Customer and Market Demand
SANTA CLARA, Calif.--(BUSINESS WIRE)--#propelpvm--Propel Software, creator of the first product value management (PVM) platform, today named Salesforce and Accenture industry veteran Ross Meyercord chief executive officer. Ray Hein, co-founder and former CEO, will lead product and customer initiatives as the company’s first chief strategy officer. Meyercord and Hein leverage 70+ years experience to position Propel for accelerated growth as the product lifecycle management (PLM) industry reaches a strategic inflection point where rigid legacy providers are ceding market leadership to the next generation of cloud-native solutions.
Meyercord is a highly regarded SaaS executive with expertise spearheading revenue growth and scaling companies in competitive markets, including leadership roles in enterprise SaaS sales, technology, business development, and sales operations. Prior to Propel, Meyercord was Pluralsight’s Chief Revenue Officer, leading a 900-person team responsible for generating global revenue and delivering over $500M in annual recurring revenue. Meyercord also spent five years at Salesforce as Global Chief Information Officer, where he was instrumental in helping grow the company from $2.5B to more than $10B in annual revenue, and another two years as Executive Vice President of sales, where he was responsible for sales, service, and platform software to customers across all segments. Meyercord began his career at Accenture, where he spent 22 years as a consultant and partner in the Communications & High Tech group, specializing in large-scale transformational programs.
"The Board and I chose Ross because he understands our customers’ challenges from his prior experience working with manufacturers, implementing PLM and quality management (QMS) solutions, and serving as the Salesforce Global CIO,” stated Hein, chief strategy officer and co-founder of Propel. “As technology continues to drive a deeper divide between laggard and innovative product companies, Ross has real world, proven experience to help make our customers highly successful.”
“Propel is helping product companies win customers for life by offering the only true concept-to-customer product record built on a single platform,” said Meyercord, CEO of Propel. “Our pace of innovation is accelerating with the recent launches of supplier management, product information management, rich visualization, and Slack integration that enables collaboration anywhere. While our competitors are focused on replatforming old technology stacks, we are already 100% low code / no code and focused on introducing capabilities our customers need to win their markets.”
As chief strategy officer and Propel board member, Hein will lead corporate strategy by leveraging his experience in manufacturing and product development technology. Hein will extend his knowledge to customers to help them succeed by growing revenue and profit margins on the PVM platform.
”This is a great time for Propel as the cloud is taking over the manufacturing industry. On premise and outdated solutions have reached the breaking point and product companies need to modernize their technology or face obsolescence,” said Sean Jacobsohn, partner at Norwest Venture Partners and Propel board member. “Ross’ experience is the perfect complement to Ray’s industry knowledge, and their combination will help customers maximize the ROI from their investment in Propel.”
“Ross has a deep understanding of how enterprise companies create value from mission-critical cloud applications, and he knows how to scale companies across segments while retaining the core values that make them successful,” said Matt Holleran, managing partner at Cloud Apps Capital Partners and Propel board member. “He is a great CEO for Propel.”
About Propel Software
Propel helps product companies grow revenue and increase business value. Our product value management platform connects commercial and product teams to optimize decision making, drive process efficiencies, and engage customers with compelling products and experiences. Propel has a proven track record of improving product quality, speeding time to revenue and profit, and improving customer satisfaction. Recognized multiple times as a Deloitte Technology Fast 500 winner, Propel is built on Salesforce and drives product success for hyper growth startups, corporate pioneers, and Fortune 500 leaders in the high tech, medtech and consumer goods industries. For more information, visit propelsoftware.com and follow us on LinkedIn.
Samantha Chapman
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HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it has closed a sale of four manufacturing and distribution centers located in Texas and Louisiana. The properties will remain an integral part of FET’s operations strategy going forward. In connection with the sale, the Company entered into a long-term lease agreement. The net sales proceeds from the transaction totaled approximately $32 million.
Neal Lux, President and Chief Executive Officer, remarked, “This transaction generates value for our stakeholders at an EBITDA multiple over ten times future annual lease payments. These sale proceeds and our projected second half 2022 free cash flow represent a $60 to $70 million net debt reduction since June 30, 2022. Our capital light business model provides significant flexibility to use the sale proceeds and free cash flow generated to improve our balance sheet and fund growth opportunities.”
FET is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.
Rob Kukla
Director Investor Relations
281.994.3763
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Ridesourcing services don’t affect all cities the same way, and the differences are important for shaping policy.
PITTSBURGH--(BUSINESS WIRE)--Over the last decade, the meteoric rise of ridesourcing services like Uber and Lyft have transformed the urban landscape, affecting travel patterns, car ownership, and congestion, and more broadly, the economy, the environment, and equity.
The ways in which Uber and Lyft are redefining mobility is the focus of a new policy brief series, “Uber and Lyft in U.S. Cities: Findings and Recommendations from Carnegie Mellon University Research on Transportation Network Companies (TNCs).”
The brief series, a compilation of studies conducted by Jeremy Michalek, the lead author, and other Carnegie Mellon Engineering researchers, delves into the implications and opportunities that TNCs present.
“It is important for us to understand whether TNCs are providing social benefits and whether cities should have a friendly or more skeptical posture toward them,” says Michalek, professor of engineering and public policy and mechanical engineering.
On the plus side, the researchers found that TNCs have increased economic growth, employment, and wages for intermittent jobs in U.S. cities.
“However, Uber and Lyft affect different kinds of cities differently, and that is important to understanding their impact,” explains Michalek.
For example, TNCs are not a reliable way to reduce car ownership. When TNCs entered U.S. cities, car ownership increased in car-dependent and slow-growth cities, and TNCs displaced transit ridership most in cities with high income and fewer children.
The costs that Uber and Lyft impose on cities are not clear-cut, either. The research reveals that Uber and Lyft can clean the air but clog the streets. Taking an Uber instead of a personal vehicle can reduce air pollution costs by 9 to 13¢, but the extra driving to and from passengers increases costs from congestion, crash risk, and climate change by about 45¢. “You create lower external costs to society when you drive your personal vehicle, on average,” says Michalek.
Responding to environmental concerns and public interest, Uber and Lyft have committed to electrify more vehicles in the future, but policy interventions to encourage electrification of TNC fleets may still be warranted. The researchers conducted simulations and found that when TNCs are faced with the air emissions costs that their fleets impose on society, they electrify more of their fleets. This was shown to reduce air emission costs by 10% in New York City and up to 22% in Los Angeles. The researchers note that the best fleet is typically a mix of electric and gas-powered vehicles.
Finally, the brief considers the capacity for Uber and Lyft to reveal and potentially address societal inequities. In one study, the researchers examined TNC ridership during heatwaves in New York City in 2019 and found that ridership increased more in high-income neighborhoods than in low-income neighborhoods, suggesting that low-income riders are subject to endure more extreme heat and humidity.
“We’ve been doing a lot of work on Uber and Lyft over the past six years, and this brief series provides a compact summary of what we have learned and what we recommend–both for cities and for travelers wishing to reduce negative effects of their travel choices on society,” says Michalek.
About the College of Engineering: The College of Engineering at Carnegie Mellon University is a top-ranked engineering college that is known for our intentional focus on cross-disciplinary collaboration in research. The College is well-known for working on problems of both scientific and practical importance. Our “maker” culture is ingrained in all that we do, leading to novel approaches and transformative results. Our acclaimed faculty have a focus on innovation management and engineering to yield transformative results that will drive the intellectual and economic vitality of our community, nation, and world.
About Carnegie Mellon University: Carnegie Mellon, cmu.edu, is a private, internationally ranked research university with acclaimed programs spanning the sciences, engineering, technology, business, public policy, humanities, and the arts. Our diverse community of scholars, researchers, creators, and innovators is driven to make real-world impacts that benefit people across the globe. With a bold, interdisciplinary, and entrepreneurial approach, we do the work that matters.
Sherry Stokes
412-268-5976
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Intelis gFlex Features Superior Payment Flexibility, Exceptional Performance in Harsh Conditions
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#GasMeter--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced the release of the Itron Intelis gFlex prepayment gas meter. The next generation meter combines Itron’s innovative ultrasonic solid state measurement technology with Itron's 30 years of experience in prepayment metering solutions. Integrated into an easy-to-deploy SaaS solution and managed through different combinations of vending channels and credit transfer options, Intelis gFlex helps utilities ensure their revenue and reduce financial exposure. The meter is now available in Europe, the Middle East and Africa (EMEA), Latin America and the Asia Pacific region.
With the Intelis gFlex, consumers prepay for the gas they consume, securing upfront revenue for utility companies. Prepayment programs can help recover over 90% of unpaid bills when combined with other payment programs, according to the Prepay Energy Working Group. The meter’s innovative design enables different payment schemes through multiple vending channels, including kiosks, Points of Sale (PoS), smartphones and online vending. Credit can be transferred using various methods, such as a NFC (near-field communication) card, an app installed onto a smartphone or with a traditional STS token via the meter numeric keypad.
In addition to improved cash conversion for utilities, the prepayment meter will help improve customer satisfaction and reduce call center volume through a consumer portal and mobile app for recharging and monitoring. Consumers can manage their budget more effectively, getting their consumption data delivered in real-time via text, mobile applications or email. Additional features such as non-disconnection period and emergency credit make the user’s life easier. For areas where prepay is not used, the Intelis still allows a flexible post-payment operating mode, keeping the benefit of revenue assurance for utilities.
Featuring embedded intelligence, the Intelis gFlex platform operates without the need of a communication network, transferring data back to the utility using NFC technology. When consumers transfer credit onto the meter, meter data is loaded onto the NFC card or mobile app and transmitted back to the utility via the vending channel (e.g., kiosk or app) when additional credit is purchased.
The meter is also designed to withstand harsh field conditions, while offering superior metrology over the entire lifetime, thus reducing the total cost of ownership of the solution. The solid-state meter requires less on-site maintenance while maintaining a higher level of accuracy over time. Combined with programmable gas supply shutoff and exceptions management features, Intelis gFlex reduces both operation and maintenance costs.
“Building on Itron’s long standing experience in prepayment metering, Itron’s Intelis gFlex offers utilities the ultimate solution for payment flexibility. The reliable, accurate metering solution optimizes cash collection and reduces bad debt at lower operational cost, helping ensure revenue while improving customer satisfaction,” said Justin Patrick, senior vice president of Device Solutions at Itron. “With embedded intelligence, the meter is truly plug-and-play, and it is built to withstand harsh installation conditions, giving utilities an easy and reliable path to revenue assurance.”
Key features of the Intelis gFlex meter include:
Availability
The Intelis gFlex meter is now available in EMEA, LAM and APAC. For more information, visit the Itron Intelis gFlex product page. For sales inquiries, go to www.itron.com/contact.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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ROSH HAAYIN, Israel--(BUSINESS WIRE)--$BNRG--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, today announced it entered into a securities purchase agreement with certain investors, part of which are existing shareholders of the Company, including Mr. Avraham Brenmiller, a controlling shareholder, Chairman and Chief Executive Officer of the Company, for aggregate gross proceeds of approximately NIS 10.6 million ($3.1 million). The private placement is subject to the approval of the Company’s shareholders in a special meeting that is expected to occur in or around January 2023.
In connection with the private placement, the Company will issue units (each a “Unit”) consisting of one ordinary share of the Company and one non-registrable and non-tradeable warrant, for a total of 1,996,359 ordinary shares and 1,996,359 associated warrants at NIS 5.33 ($1.55) per share (reflecting a 4% premium on the market price at close on November 28, 2022). The warrants are exercisable on the issuance date of each Unit with a premium of 15% on the share price, representing an exercise price of NIS 6.13 ($1.78) per warrant, and have a term of five years from the issuance date.
The securities described above are being sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. The investors received piggyback registration rights for their ordinary shares and associated warrants. The Company has agreed to file a registration statement with the SEC to register the resale of the warrant shares thirty (30) days after becoming shelf eligible. Upon effectiveness of such registration statement, the aforementioned piggyback rights shall expire.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Brenmiller Energy
Brenmiller Energy delivers scalable thermal energy storage solutions and services that allow customers to cost-effectively decarbonize their operations. Its patented bGen thermal storage technology enables the use of renewable energy resources, as well as waste heat, to heat crushed rocks to very high temperatures. They can then store this heat for minutes, hours, or even days before using it for industrial and power generation processes. With bGen, organizations have a way to use electricity, biomass and waste heat to generate the steam, hot water and hot air they need for a variety of applications, including, for example, to mold plastic, process food and beverages, produce paper, manufacture chemicals and pharmaceuticals or drive steam turbines without burning fossil fuels. For more information visit the company’s website at https://bren-energy.com/ and follow the company on Twitter and LinkedIn.
Cautionary Note Regarding 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 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the anticipated closing of the private placement described herein, the Company’s upcoming extraordinary special meeting, and the filing of a resale registration statement. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, the Company’s planned level of revenues and capital expenditures, the demand for and market acceptance of our products, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's prospectus dated May 24, 2022 filed with the SEC, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
U.S. Investor Contact:
Chase Jacobson, Vallum Advisors
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+1 980-265-2597
Media Contact:
Isaac Steinmetz
Antenna for Brenmiller Energy
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LONDON--(BUSINESS WIRE)--Pentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, announced today that it has named Tanya Hooper to its executive leadership team as Executive Vice President and Chief Human Resources Officer effective January 1, 2023. Hooper will report to John Stauch, Pentair President and CEO.
“At Pentair, we are focused on our vision to be the world’s most valued sustainable water solutions company and Tanya will be a key partner in advancing our leadership as an employer of choice,” said John Stauch, Pentair President and CEO. “Tanya has a demonstrated track record of Human Resources leadership with large multi-national businesses, and we are excited about her appointment to this role and the perspectives and experience she will bring to Pentair.”
Hooper joins Pentair from Honeywell, where she served as the Vice President of Global Talent and Corporate Human Resources. Prior to Honeywell, Tanya worked for Raytheon Technologies as the Chief Human Resources Officer & Vice President of Collins Aerospace and prior to that, for Royal Dutch Shell where she held several Human Resources Business Partner roles with increasing responsibility over time.
Hooper will fill the role being vacated by Adrian Chiu, who has been named as Executive Vice President and President of Pentair’s Water Solutions Segment effective January 1, 2023.
ABOUT PENTAIR PLC
At Pentair, we help the world sustainably move, improve, and enjoy water, life’s most essential resource. From our residential and commercial water solutions, to industrial water management and everything in between, Pentair is focused on smart, sustainable water solutions that help our planet and people thrive.
Pentair had revenue in 2021 of approximately $3.8 billion, and trades under the ticker symbol PNR. Serving customers in more than 150 countries, our approximately 11,250 global employees are living our purpose to create a better world through smart, sustainable water solutions. To learn more, visit Pentair.com.
Rebecca Osborn
Senior Manager, External Communications
Tel: 763-656-5589
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Dan Complin
Manager, Investor Relations
Tel: 763-656-5575
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Proposal could lead to deployment of multiple AP1000® advanced reactors
CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company today submitted its proposal to support the Czech Republic’s planned expansion of its nuclear power fleet with the AP1000® reactor, the world’s most advanced, proven nuclear reactor in operation globally.
The bid, submitted with Bechtel Nuclear Power Company, proposes construction of one AP1000 unit at the Dukovany nuclear site, with the potential for another unit there and two additional units at the Temelin site. Westinghouse and Bechtel will partner with the Czech nuclear industry to fulfill key roles in procurement of equipment and construction of the reactors.
“We are proud to have the opportunity to expand on our long-term support of the Czech Republic’s nuclear industry,” said David Durham, President, Energy Systems at Westinghouse. “As the country continues moving toward a safer, cleaner and more secure energy future, our AP1000 technology is unequaled in its ability to safely decarbonize grids on a massive scale.”
“The Westinghouse-Bechtel Team offers safe, proven technology that is already licensed and operating elsewhere,” said John Howanitz, President of Bechtel’s Nuclear, Security & Environmental global business unit. “We both have current, hands-on experience building a plant using Westinghouse reactors. Combined with the excellent capabilities of the Czech nuclear industry, we believe our proposal offers excellent value.”
Two AP1000 units are preparing for start-up at the Plant Vogtle site near Waynesboro, Georgia, USA, as Bechtel completes construction. Nuclear fuel was loaded into the Unit 3 core in October and commercial operation is expected in the first quarter of 2023.
Earlier this month, the Polish government selected the AP1000 reactor to launch its first-ever nuclear energy program, announcing its intention to construct three units with the potential of adding three more units at a second location. The deployment of AP1000 technology in Poland will drive greater regional synergy that benefits the Czech nuclear program.
The AP1000 plant is the only operating Generation III+ reactor with fully passive safety systems, modular construction design and has the smallest footprint per MWe on the market. In addition to the reactors at the Vogtle site, four AP1000 units are currently setting operational performance records in China with four additional reactors under construction, and two more are planned. Nine units have been announced for Ukraine, and the technology is under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom, and in the United States.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Infrastructure; Nuclear, Security & Environmental; Energy; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations.
www.Bechtel.com
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NEW YORK--(BUSINESS WIRE)--A new report, ‘Leather’s impact on the planet,’ released by the fashion non-profit organization, Collective Fashion Justice, is the second in a new series titled ‘Under Their Skin.’ The latest report unveils never-before-shared research around the environmental harms and effects that the leather supply chain has on climate, land use, water, among other destructive impacts on our planet.
The report reveals a wealth of data and research surrounding the destruction linked to cattle skin and leather production, tanning, and product manufacturing, such as:
‘Leather’s impact on the planet’ debunks common myths made around animal leather by powerful leather trade industries and lobbyists and encourages the fashion industry and citizen consumers to look beyond green-washed claims made by certifications and brands.
Important call outs from the report include:
“The fashion industry cannot wrangle its contribution to the climate crisis and interlinked biodiversity crisis without acting on leather. The lobbying and greenwashing from the leather industry is actively preventing environmental progress in fashion, and we’re urging the industry to pay attention, set clear targets to phase leather out, and choose more responsible alternatives,” said Emma Hakansson, founding director of Collective Fashion Justice. “To give fashion its best shot at aligning with IPCC and United Nations climate and environmental targets, we must look critically at materials and move beyond both virgin fossil fuels and animal inputs which disproportionately contribute to negative impacts in the supply chain.”
The ‘Leather’s impact on the planet' report offers recommendations for a just transition away from leather production, instead using and investing in innovative leather alternative materials, in order to create a more sustainable future for fashion.
“We recognize we’re asking a lot from the industry, but the climate crisis doesn’t care what’s practical or easy for brands to do,” said Hakansson. “There is an urgent need to divest from the interconnected harms of leather production, but this just transition can be exciting, creative and innovative – an opportunity not a problem.”
The next report from the ‘Under Their Skin’ four-part series covers leather's impact on animals and is expected for release in February 2023.
Collective Fashion Justice
Collective Fashion Justice is an Australian and United States based NGO working towards a ‘total ethics fashion system’ which puts the well-being of humans, animals and the planet before profit.
For more information, please contact: USA (PDT) - Amy Hitchenor, +1 503 5757 0205, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBAI, United Arab Emirates--(BUSINESS WIRE)--AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has achieved the financial close to deliver 1GW of renewable energy projects in Egypt. The landmark 500MW wind and 500MW solar projects, represent US$1.1 billion of investment into the Egyptian economy and takes the Company’s clean energy portfolio to 2GW in the country.
AMEA Power will develop, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt. The Project is being financed by International Finance Corporation (IFC), part of the World Bank Group, Dutch Entrepreneurial Development Bank (FMO) and the Japan International Cooperation Agency (JICA).
The 500MW wind farm, located in the Red Sea Governorate, is being developed in partnership with Sumitomo Corporation, who will own 40% equity in the Project. Financing is being provided by a consortium of banks, including Japan Bank for International Cooperation (JBIC) and IFC, together with Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and Sumitomo Mitsui Trust Bank participating as co-lenders under Nippon Export and Investment Insurance (NEXI) cover.
Both projects have already secured Power Purchase Agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) and Usufruct Agreements, with the New and Renewable Energy Authority (NREA) having already completed its feasibility studies.
Hussain Al Nowais, Chairman of AMEA Power, said: “These landmark projects reflect the long-term commitment, ambition and growth of AMEA Power. The Company is leading the development of renewable energy across Africa, which through its global and regional partnerships, will deliver clean energy to millions of people around the continent.
“We are proud to reach this significant milestone and to be supporting Egypt in its energy transition journey and drive to accelerate sustainable development. Today’s achievement would not have been possible without the hard work of AMEA power’s world class team, the support of our project partners, lenders, advisors and the cooperation of the Egyptian government.”
The projects will underpin the renewable energy ambitions of Egypt, along with supporting economic and social development within the region. The Egyptian government is working towards increasing the supply of electricity generated from renewable sources to 42% by 2035.
“These projects highlight the private sector’s essential role helping to deliver clean, affordable power, especially at a time of growing challenges from climate change and pressures on the environment,” said Cheick-Oumar Sylla, IFC Regional Director for North Africa and Horn of Africa. “Egypt has ambitious renewable energy goals and we are proud to support AMEA’s expansion into Africa as well as its partnership with Egypt to accelerate the country’s renewable energy transition.”
AMEA Power has also recently signed a Framework Agreement with the Egyptian Government, on the sidelines of the United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, to develop a large-scale green hydrogen project, which will serve as a feedstock for the production of green ammonia. Once completed, the 1GW plant will be able to produce 800,000 tons of green ammonia per year for export.
AMEA Power is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition. The Company has clean energy pipeline of nearly 6GW across 15 countries.
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, owner and operator of renewable energy projects. As one of the fastest growing renewable energy companies in the region, the company is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition. AMEA Power has assembled a world class team of industry experts to deliver projects across Africa, the Middle East and other emerging markets.
*Source: AETOSWire
Robert Sinclair
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Landline: +971(0)43107065
Mobile: +971(0)569980713
For more information, please visit: www.ameapower.com
OneRail completes significant Series B round in turbulent market; sees unprecedented demand for last mile logistics modernization, signaling massive growth
ORLANDO, Fla.--(BUSINESS WIRE)--#finalmiledelivery--On the heels of record growth, OneRail completes a $33 million Series B funding round, co-led by Piva Capital and Arsenal Growth Equity. Shippers continue to re-evaluate last mile logistics with a more strategic eye, based on a multitude of factors, including providing a superior shipper-branded customer experience, increased dependability and delivery speed, and cost containment, while meeting sustainability objectives. Supply chain transformation has become a catalyst for competitive advantage for shippers of all types and OneRail replaces siloed legacy systems and manual processes (Excel, VRS, TMS, etc.) to leverage a virtuous cycle of transportation performance data — driving measurable improvements in affordability, dependability, speed and sustainability for its customers.
OneRail’s comprehensive last mile solution is anchored by its delivery operating system, which automates last mile logistics, intelligently selecting the right shipping mode and courier or carrier network to optimize every order. OneRail’s delivery fulfillment platform is directly connected to an unparalleled real-time connected network of nearly 10 million drivers, which is supported by its Exceptions Assist™ operations layer — a USA-based exceptions management team available 24/7 who actively get ahead of delivery issues before they occur. With an on-time delivery rate of more than 98 percent, OneRail has firmly established itself as the go-to provider for an expanding range of industries, including retailers, healthcare networks, wholesale product distributors, and construction and materials distributors alike.
“Since our Series A round in 2021, we’ve grown revenue year-over-year by 312 percent and have expanded service to over 330 U.S. cities,” said OneRail CEO and founder Bill Catania. “As the connective tissue between our customers, courier networks and consumers, our delivery fulfillment system is currently transacting over 12 million data calls per minute, producing a mountain of data which is further unlocked through this growth round of funding, helping our customers achieve greater efficiencies, new fulfillment capabilities and corporate sustainability objectives.”
OneRail will leverage this funding round to develop a multitude of new data-driven platform capabilities focused on improving the dependability, affordability, and sustainability of last mile logistics. In addition to the development of new capabilities, OneRail also intends to greatly expand its sales, marketing, and solution engineering teams to meet increased shipper demand for more efficient last mile solutions.
“OneRail is in a pivotal position to help solve last mile issues that plague companies and consumers,” said Adzmel Adznan, co-founding partner with Piva Capital. “As shifts in consumer behavior become more demanding, there is a need for dependable, affordable and sustainable fulfillment solutions, especially in the underserved segment of B2B and industrial deliveries. OneRail’s market understanding and execution is second to none — we are delighted to partner with the team, and look forward to seeing what’s next.”
One such B2B supply chain customer is American Tire Distributors (ATD). “OneRail has enabled ATD to provide our tire retailers across the U.S. with additional last mile delivery services to meet their consumers’ needs,” said Stuart Schuette, president & CEO of ATD. “As their first enterprise customer, we have enjoyed working with the OneRail team to evolve and grow their service offerings together. We are excited to continue solving the ever-changing demand and last mile delivery solutions that meet the needs of the replacement tire and automotive aftermarket industries.”
The funding builds on a successful 2022 that saw OneRail’s platform deployed from over 10,000 unique shipper locations, debut at #48 on this year’s Inc. 5000 list, and named to the FreightTech 100 for the second year in a row. OneRail’s Logistics Partner Network, a managed marketplace that seamlessly benefits shippers and courier businesses, grew by four million, up 66 percent year over year. With nearly 100 team members based in Orlando, Fla., OneRail caught the eye of Arsenal Growth Equity, also based in Orlando.
“OneRail’s growth over the past 24 months is validation of their differentiated supply chain solution for the last mile,” stated Arsenal Growth Equity Founding Partner John Trbovich. “Having invested throughout the e-commerce ecosystem, in companies such as Cart.com and Orderbot, we believe OneRail’s robust technology platform, coupled with our confidence in its team, vision and strategy, will transform the last mile logistics sector.”
Signifying the strength and confidence in OneRail’s solution, additional investors include Trimble Ventures, the corporate capital venture fund of Trimble, a global leader in construction, agriculture and transportation technologies; ATD; as well as existing investors Ironspring Ventures, Las Olas Venture Capital, Bullpen Capital, Triphammer Ventures/Alumni Ventures Group, Gaingels and Mana Ventures. The latest investment brings the company’s total funding efforts to $54.5 since announcing its Seed Round two years ago.
About OneRail
OneRail is an Orlando-based last mile transportation visibility solution providing shippers with Amazon-level dependability and speed. With a real-time connected network of 10 million drivers, OneRail finds the right vehicle for the right delivery, so shippers gain low prices and greater capacity to rapidly scale their businesses. Across retail, CPG, distribution, construction, healthcare and more, OneRail offers an exceptional last mile delivery experience with an on-time delivery rate of 98.6%, while keeping brands front and center. To learn more about OneRail, visit OneRail.com.
About Piva Capital
Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs who are solving the world's critical industrial challenges with breakthrough technologies and innovative business models. For more information, visit Piva.vc, or the company’s LinkedIn and Medium profiles.
About Arsenal Growth Equity
Arsenal Growth Equity is an execution-stage private equity firm based in Florida. Founded in 1999, Arsenal invests in emerging software companies across a myriad of sectors — targeting capital efficient, high-growth businesses where they can leverage their operational and strategic network to help founders scale. For more information, visit www.arsenalgrowth.com.
About American Tire Distributors
American Tire Distributors is one of the largest independent suppliers of tires to the replacement tire market. It operates more than 115 distribution centers, serving approximately 80,000 customers across the U.S. The company offers an unsurpassed breadth and depth of inventory, frequent delivery and value-added services to tire and automotive service customers. American Tire Distributors employs approximately 4,500 associates across its distribution center network. In 2022, the company was recognized as one of Forbes’ 2022 America’s Best Midsize Employers, America’s Top 100 Most Loved Workplaces by Newsweek and one of Charlotte’s Best and Brightest Companies to Work For® by the National Association for Business Resources.
Julianna Lopez
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Leading Water Technology Company Hosts Annual WaterPRO Competition, Demonstrates Solar Pump, WellConnect Technology, New Water Well Solutions
BROOKSHIRE, Texas--(BUSINESS WIRE)--#Watertechnology--Grundfos, a global leader in advanced pump solutions and water technologies, today announced that the company will exhibit at National Groundwater Association’s (NGWA) 2022 Groundwater Week Conference and Expo in Las Vegas on December 6-8, 2022. In booth #619, Grundfos will host its 3rd annual WaterPRO Competition and demonstrate WellConnect digital, cloud-based water well monitoring solution, as well as the newest solar-powered pumps and SPE water pumps.
“Attending Groundwater Week is like a homecoming for the tight-knit community of water well contractors and pump installers. These professionals and the technology providers come together to collaborate and share what is next in groundwater innovation,” said Patrick Sless, Area Sales Director in Canada and US for Water Utility at Grundfos. “The highly anticipated WaterPRO Competition returns this year. The event is a fun celebration of the skills and expertise pump installers must possess to install and maintain this vital equipment.”
After competitions at local events throughout the year, the WaterPRO Competition culminates at NGWA’s Groundwater Week, where the 10 winners of the local events and two walk-ons compete for a $10,000 grand prize and the Guts and Glory title. Although the specific events are only revealed during the competition, the participants must complete typical pump installer tasks the fastest in order to move on to the next round and eventually win. To learn more about the WaterPRO Competition and to sign up as a walk-on, visit Grundfos WaterPRO Competition.
Attendees can also experience demos of Grundfos’ WellConnect digital, cloud-based water well project management solution that allows water well contractors and pump installers to easily and quickly report on projects and ongoing water well health. The latest solar water pump and SPE products will also be on display.
About Grundfos
Grundfos pioneers solutions to the world’s water and climate challenges and improves quality of life for people. Our new brand promise reaffirms and strengthens this commitment, as we promise to respect, protect and advance the flow of water. As a global pump and water solutions company we provide expertise in energy and water efficient solutions and systems for a wide range of applications, including water utility, water treatment, industries and buildings. Find out more: www.grundfos.com/us and connect on LinkedIn, YouTube, Facebook, and Instagram.
Carrie Ward, PR for Grundfos, This email address is being protected from spambots. You need JavaScript enabled to view it., 832-407-5347
Casey’s signature holiday program returns for guests to unwrap special daily offers via the Casey’s app
ANKENY, Iowa--(BUSINESS WIRE)--Amidst the holiday frenzy, Casey’s is spreading cheer, today announcing the return of “24 Days of Casey’s Rewards” to help bring joy to its guests looking for a reason to treat themselves this holiday season.
Each day from December 1 through December 24, Casey’s will reveal surprise offers for its Rewards members. Guests who participate in the program will find free and exclusive offers to unwrap daily in the Casey’s app, including some of its guests’ favorites – a variety of candy, drinks, snacks, and more like bonus points and BOGO offers to celebrate the season.
“At Casey’s, we know our guests are looking for something special to keep their holidays going,” said Art Sebastian, Vice President of Digital Experience at Casey’s. “To deliver on that promise this holiday season, there’s an experience waiting for them in the Casey’s app with exciting offers every day.”
Casey's loyalty program – Casey's Rewards – provides millions of Casey's guests the ability to earn points on everyday purchases and redeem them for Casey’s Cash, fuel discounts, or a donation to a local school of their choice.
Download the Casey’s app today and be the first to celebrate free offers and more during the 24 Days of Casey's Rewards. More information can be found here.
In addition, guests can get in the holiday spirit with a freshly brewed cup of Casey’s new, seasonal coffee flavor – Toasted Butter Pecan coffee. Guests can also enjoy their next holiday meal with Casey’s delicious, handmade pizza with made-from-scratch dough by ordering in-app or online for pickup or delivery at caseys.com.
About Casey’s
Casey’s is a Fortune 500 company (NASDAQ: CASY) operating over 2,400 convenience stores. Founded more than 50 years ago, the company has grown to become the third-largest convenience store retailer and the fifth-largest pizza chain in the United States. Casey’s provides freshly prepared foods, quality fuel and friendly service at its locations. Guests can enjoy pizza, donuts, other assorted bakery items, and a wide selection of beverages and snacks. Learn more and order online at www.caseys.com, or in the mobile app.
Kendrew Panyanouvong
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NEW ORLEANS--(BUSINESS WIRE)--Black Bay Energy Capital (“Black Bay”), a private equity firm focused on growth investments for innovative companies in the energy sector, is pleased to announce a promotion, a team addition, and new Strategic Advisory Board members.
Matt Schovee has been promoted to Managing Director. Matt is one of Black Bay’s founding members and focuses on origination, structuring, due diligence, and monitoring of investments. Matt serves on the board of directors at Advanced Industrial Devices and SCS Technologies.
Grant McClure has joined Black Bay as an Associate. Grant joined the firm after several years as a corporate development analyst at Gravity Oilfield Services, a provider of water & infrastructure services to the oil & gas sector. Grant graduated from Louisiana State University with a Bachelor of Science in Petroleum Engineering and from the Freeman School of Business at Tulane University with a Master of Management in Energy. At Black Bay, Grant focuses on investment & transaction analysis, due diligence, and monitoring investments.
In addition, Christine (Chris) Staples and William (Bill) Harvey have been added to Black Bay’s Strategic Advisory Board (“SAB”). A career chemicals executive across various industries (including oil & gas), Ms. Staples is the CEO of Cohere Beauty, a premier formulator and manufacturer of beauty, personal care, fragrance, and specialty products. Mr. Harvey, also a career chemicals executive, serves on the boards of Bridgestone Americas, Origin Materials and Clean Chemistry, a Black Bay portfolio company. Mr. Harvey spent 27 years at DuPont, most recently serving as the President of Packaging and Industrial Polymers.
“Matt has been instrumental in all aspects of Black Bay’s investment activities and creating value for our investors. We are excited to have Grant join the team as we scale our investment activities while deploying our second fund. We are also thrilled to have Chris and Bill join our advisory board given their deep chemical experience and extensive network within the chemical industry,” said Michael LeBourgeois, Managing Partner of Black Bay. “Following on Black Bay’s success in specialty chemicals, the firm sees considerable future opportunities in the sector, and the chemical executives on our SAB will be invaluable in performing due diligence and driving growth with our chemical investments,” added Mr. LeBourgeois.
Black Bay Energy Capital
Black Bay Energy Capital (“Black Bay”) is a private equity firm focused on the North American energy sector. Black Bay invests equity capital alongside talented entrepreneurs that provide a differentiated product or service to their clients to help reduce costs, improve operations, and achieve ESG initiatives. The firm’s investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth companies. www.blackbayenergy.com
Black Bay Energy Capital: Michael LeBourgeois (504) 586-3848
Enables Customers to Quickly and Cost-Effectively Extend the Life of their PLIDCO Products
CLEVELAND--(BUSINESS WIRE)--The Pipe Line Development Company (PLIDCO), the leader in pipeline leak repair and maintenance fittings, announced that it has approved six international partners to serve as Authorized Refurbishing Service Centers (ARSCs). PLIDCO recently established ARSCs with its partners in Brunei, Canada, Colombia, Indonesia, Singapore and Qatar.
The new ARSCs are strategically located near PLIDCO’s customers, which reduces turnaround, shipping time and costs. This allows them to extend the life of their PLIDCO pipeline repair fittings more quickly and cost effectively. Previously, certified refurbishment could only be conducted at PLIDCO’s facility in the U.S.
During refurbishment, products will receive sandblasting, seal replacement, fresh paint, and new PLIDCO-certified parts, such as nuts and studs. The ARSCs employ certified technicians who are fully trained at PLIDCO’s U.S. factory to properly conduct refurbishments and provide excellent customer service.
“PLIDCO products are engineered to last a very long time under extremely harsh conditions. With proper refurbishment, most of our pipeline fittings can have a second life or more, provided that they haven’t been welded directly to a pipeline,” said Ernie Lackner, PLIDCO’s director of sales and marketing. “The global refurbishment centers were established in direct response to our customers’ requests, and we expect to establish more ARSCs in the future.”
In addition to refurbishment, PLIDCO fittings can be completely reconditioned. This must be conducted at PLIDCO’s U.S. facility and includes refurbishment services, plus repairs and hydro testing. All reconditioned pipeline fittings receive a new five-year limited warranty, the only such warranty provided in the pipeline industry.
About PLIDCO®
The leader in pipeline repair fittings since 1949, the Pipe Line Development Company (PLIDCO) earns customer loyalty by producing innovative solutions that minimize costly shutdowns and assure worker safety. PLIDCO is the number-one source for safe, reliable pipeline leak repair and maintenance products, with a vast portfolio of hundreds of thousands of fittings that are sold and installed around the world. Its products are backed by the industry’s only five-year limited warranty and an ISO 9001 certified quality program. To learn more, visit www.PLIDCO.com.
Savannah Mroczka
Roop & Co.
440.334.4432
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DUBLIN--(BUSINESS WIRE)--The "Global Renewable Diesel Market: Analysis By Production, By Consumption, By Feedstock (Tallow, UCO, Corn Oil, Fish Oil, and Other), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global renewable diesel market by production has reached 2.61 billion gallons in 2021. The market is expected to reach 7.45 billion gallons per year by 2027.
The global consumption of renewable diesel has increased to 2.70 billion gallons in 2021 and is expected to reach 6.89 billion gallons by 2027. Renewable diesel is a hydrocarbon that is chemically equivalent to petroleum diesel and can be used as a drop-in biofuel and can be transported in petroleum pipelines and sold at retail stations with or without blending with petroleum diesel.
The mounting environment-friendliness, renewability, and biodegradability of renewable diesel would be the main factor driving the growth of the market in the coming years.
Also, the renewable diesel industry is set to grow with fuel refiners looking for alternative growth paths in a low-carbon world. Renewable diesel production is expected to grow at a CAGR of 19.09% during the forecast period of 2022-2027.
Whereas, consumption is expected to grow at a CAGR of 16.95% during the projected years.
Market Segmentation Analysis:
By Production
The report provides insight into the renewable diesel market's production based on the regions namely Europe, North America, and Asia Pacific. Europe held the highest share of more than 45% in the market in 2021, followed by the North America and Asia Pacific region.
Europe has historically been the largest market for the product due to early acceptance of the product in the region as well as government emphasis on replacing carbon-emitting sources with bio-based sources. One of the major reasons for the growth of renewable diesel production was the adoption of the Renewable Energy Directive (RED) II.
In 2021, the US was the sole producer of renewable diesel in the North American region. Renewable diesel capacities are going through a phase of rapid expansion in the US, led by global refiners retrofitting existing fossil fuel refineries to process renewable feedstock.
Asia-Pacific's decarbonization efforts are likely to determine the scale of adoption of renewable diesel. Emerging interest in sustainable energy resources would emphasize the adoption of renewable products, which is expected to increase the demand for renewable diesel and thereby contribute to its capacity growth in Asia.
By Consumption
The report provides a glimpse of the consumption of renewable diesel around the world. North America, Europe, and the Asia Pacific are the three geographic regions that contribute to the global market for renewable diesel based on consumption.
Based on consumption, the European market has been segmented into the following regions: Germany, Italy, France, Spain, the UK, and the Rest of Europe (ROE). By using a minimum of 14% of renewable energy in road and rail transport by 2030, renewable diesel is expected to be used as an alternative for refineries to meet Europe's renewable energy directive-II (RED-II) goals, leading to market growth.
In North America, Canada's Clean Fuel Standard is expected to boost renewable diesel use in the coming years. The program aims to achieve 30 million tons of annual reductions in greenhouse gas (GHG) emissions by 2030. The Asia Pacific renewable diesel market can be segmented into the following regions based on consumption: China and Indonesia. It is anticipated that Indonesia would be the main consumer of renewable diesel by the end of 2027, with the highest CAGR.
By Feedstock
The US renewable diesel market production is further bifurcated based on the feedstock: Tallow, UCO (Used Cooking Oil), Corn Oil, Fish Oil, and Others. In 2021, the tallow held the major share in the US renewable diesel market owing to its properties like the high centralized generation in slaughter/processing facilities and comparatively low prices. Corn oil is expected to grow at the highest rate in the forthcoming years. The low carbon feedstock market is experiencing surging demand and higher prices.
Market Dynamics:
Growth Drivers
The global renewable diesel market has been growing over the past few years due to the factors such as growing motor vehicle production, rising carbon emission, depletion of fossil fuels, growing aviation industry, policy support for renewable diesel, increasing investment in renewable diesel, etc. The increasing threat of fossil fuel depletion and the need to include renewable sources of energy in the energy mix for sustainable growth is anticipated to drive the demand for renewable diesel.
Also, renewable diesel costs more to produce than conventional fossil diesel, and therefore policy support is necessary to make renewable diesel production commercially viable. The most important US policy instruments for renewable diesel producers are the Renewable Fuel Standard, the biomass-based diesel blenders tax credit, and state level incentives for decarbonizing transportation fuel such as the California Low Carbon Fuel Standard and the Oregon Clean Fuels Program.
Challenges
However, the market has been confronted with some challenges specifically, insufficient availability of feedstocks, problems associated with the quality control of renewable diesel, difficulty in finding the right place to produce renewable diesel, availability of substitutes, etc.
Trends
The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as increasing energy consumption, a structural shift to renewable diesel, more economic in nature, increasing acceptance of eco-friendly fuel, etc.
Biodiesel and renewable diesel are set to become increasingly important in decarbonizing the diesel transportation sector as intensifying focus on climate change and legislations toward greenhouse gas (GHG) reduction bring new growth drivers to the transportation and biofuel markets.
Impact Analysis of COVID-19 and Way Forward:
The global renewable diesel market has experienced positive growth during the pandemic. In 2020, fuel use declines in heavy-duty commercial vehicles were less severe, offsetting declines in light-duty passenger use of diesel and providing relative stability to the distillate market as compared to the light-duty fuels market which was fully impacted by lockdown measures.
In 2021, renewable diesel demand further increased as the road transport sector rebounded. In the post-COVID era, factors such as government support for the consumption of renewable diesel by providing subsidiaries and growing demand for eco-friendly fuels that reduce greenhouse gas emissions are anticipated to drive market growth.
Competitive Landscape:
Renewable diesel production capacity is currently increasing rapidly, not just in the US but around the world. In 2022, Diamond Green Diesel LLC has a production capacity of 982 million gallons per year whereas, the renewable energy group has a production capacity of 100 million gallons per year. In the US renewable diesel market, Neste held the highest market share, followed by DGD.
The global renewable diesel market is moderately consolidated. The key players in the global renewable diesel market are:
Key Topics Covered:
Renewable Diesel: An Overview
Market Dynamics
Growth Drivers
Challenges
Market Trends
Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/4p9lml
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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