Using patented SOURCE® Hydropanel technology, Diageo India will for the first time in the world, use water made purely from sunlight and air in an alcoholic beverage
This initiative will help accelerate the company’s Society 2030: Spirit of Progress Plan
BENGALURU, India & SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Diageo India, the country’s leading beverage alcohol company, today announced a first-of-a-kind water stewardship initiative in partnership with SOURCE Global, PBC. The company’s SOURCE® Hydropanels, a groundbreaking technology that uses the sun to draw pure, constantly replenished water vapor out of the sky, will produce premium water for Godawan, Diageo India’s artisanal single malt whisky.
As the technology partner, SOURCE Global will build a 200-panel water farm in Alwar, Rajasthan. Initially, the installation is expected to generate 9,000 litres of water within the first six months and will further scale up to produce around 27,000 litres of water per month after a year. Because SOURCE® is drawn from the pure and constantly replenished water in the sky, the project will save groundwater. Godawan, Diageo India’s artisanal single malt whisky, produced in the warm and dry Alwar region of Rajasthan, will be the first beverage alcohol brand to use SOURCE® water.
Because SOURCE® water is locally made, it reflects the unique terroir of the region. SOURCE Hydropanels also operate off-grid and without electricity or traditional piped water infrastructure, reducing the carbon emissions associated with treating and transporting potable water.
Hina Nagarajan, MD & CEO, Diageo India, said, “We have a responsibility to grow our business sustainably from grain to glass. Last year, we set a vision and commitment to build our Society 2030 program, aligned to the United Nations’ Sustainable Development Goals. The innovative actions of our teams and partners will help us conserve groundwater considerably. Our partnership with SOURCE is aligned to the craft philosophy of born good, made good, and serve good. This is a step forward in our journey to be part of the solution in water-stressed geographies.”
“As the first company to use renewable water in an alcohol brand, Diageo India is serving the growing demand for premium, sustainable products in an incredibly unique and powerful way,” said Neil Grimmer, Brand President of SOURCE Global, PBC. “The world, especially in already water-stressed regions like Rajasthan, is now facing the harsh realities of climate change, and Diageo is leading the way toward a more secure and sustainable future. We are proud to partner with them.”
This initiative is aligned to Diageo India’s commitment towards Society 2030: Spirit of Progress Plan. The company recently released its maiden ESG Index, which highlighted the multiple initiatives undertaken by the company during the year such as creating water replenishment capacity of 4,62,182 Cu.M annually and 84,000 litres of potable drinking water per day under its Water, Sanitation and Hygiene (WASH) programme. The company is working to replenish more water than it uses in the water-stressed sites across its operating locations in India through reforestation, wetland restoration, desilting ponds and rainwater harvesting.
About Diageo India
Diageo India is the country’s leading beverage alcohol company and a subsidiary of global leader Diageo PLC. The company manufactures, sells and distributes an outstanding portfolio of premium brands such as Johnnie Walker, Black Dog, Black & White, VAT 69, Antiquity, Signature, The Singleton, Royal Challenge, McDowell’s No1, Smirnoff, Ketel One, Tanqueray and Captain Morgan.
Headquartered in Bengaluru, our wide footprint is supported by a committed team of over 3,145 employees, 47 manufacturing facilities across states and union territories in India, a strong distribution network and a state-of-the-art Technical Centre.
Incorporated in India as United Spirits Limited (USL), the company is listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India. For more information about Diageo India, our people, our brands, and our performance, visit us at www.diageoindia.com. Visit Diageo’s global responsible drinking resource, http://www.DRINKiQ.com, for information, initiatives, and ways to share best practices.
Celebrating life, every day, everywhere.
About SOURCE Global, PBC
A Public Benefit Corporation, SOURCE Global, PBC’s mission is to make drinking water an unlimited resource. The company’s SOURCE® Hydropanels use the sun to draw pure water vapor out of the air and transform it into fresh, high-quality, perfectly mineralized drinking water. Because the company’s technology operates entirely off the grid, it is uniquely well suited to serve areas with no reliable access to safe drinking water and those with little to no infrastructure, putting the fundamental right of safe, sustainable drinking water in the hands of every person in nearly every climate and corner of the world. Unlike piped, well or bottled water, SOURCE water is produced where it’s needed and constantly measured and monitored by digital sensors in each panel. SOURCE®Hydropanels are currently serving communities, schools, hospitals, NGOs, businesses and homes across the world and SOURCE is on Fast Company’s 2020 list of most innovative social good companies. Headquartered in Scottsdale, Arizona, the company operates in more than 50 countries and on six continents. SOURCE is a registered trademark of SOURCE Global, PBC.
Rajalakshmi Azariah, Diageo India
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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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Project awarded $8 million to fund one of the largest bidirectional school bus projects in U.S.
BELMONT, Calif.--(BUSINESS WIRE)--The Mobility House has been selected by New York City School Bus Umbrella Services (NYCSBUS) to manage electric vehicle charging and vehicle-to-grid (V2G) operations for the largest V2G school bus electrification project in the state. Awarded $8 million by New York State Energy Research and Development Authority's (NYSERDA) New York Clean Transportation Prizes program, NYCSBUS will leverage The Mobility House’s charge and energy management system, ChargePilot®, to optimize infrastructure planning and operation for 30 electric school buses deployed at the Bronx’s Zerega Avenue depot. The Mobility House’s modeling estimates NYCSBUS will save $70,000 to $160,000 annually with managed smart charging.
“We are excited to work with The Mobility House, thanks to generous funding from NYSERDA, to serve as the blueprint for how to rapidly scale school bus electrification in New York to meet the state’s ambitious goals,” said Matt Berlin, CEO of NYCSBUS. “The Mobility House is the most proven charge management provider in this space, and we appreciate their partnership in planning and implementing charging infrastructure to drive towards the electric future.”
Learnings and data from this project, gathered by The Mobility House and partners, will provide statewide resources that align with New York’s electric school bus mandate for 2035 and NYCSBUS’s goal of electrifying its 850 school buses by 2030, including the near-term support for electrification transitions at two additional school districts. Additional project partners include World Resources Institute, CALSTART, Bronx Community College, New York League of Conservation Voters and South Bronx Unite. NYCSBUS is expected to receive the first 10 electric school buses in 2023, with the next 20 electric buses to follow.
“It is an honor to partner with NYCSBUS and NYSERDA in accelerating the state’s transition to cleaner transportation. Our global charge management expertise with some of the world’s largest electric fleets will help set the standard for scalable, intelligent electric infrastructure across New York,” said The Mobility House U.S. Managing Director Gregor Hintler.
Responsible for managing all charging infrastructure at the Zerega Avenue depot, with 30 chargeports planned, The Mobility House’s ChargePilot adjusts the charging rate of electric school buses according to real-time travel schedules, as well as the local utility rates, to deliver charging at the lowest cost to the district. ChargePilot will also support the bidirectional charging operations at the site that can provide additional revenue for the district and local energy resilience once implemented.
“The electrification of our transportation services is fundamental to improving health and climate conditions and offers a key opportunity to prioritize historically underserved communities who continue to suffer disproportionately the effects of air pollution,” said Sue Gander, Director of the Electric School Bus Initiative at WRI. “The vehicle-to-grid integration aspect of this project is particularly exciting, as it will demonstrate how electric school bus batteries can strengthen energy security and community resilience.”
To learn how school districts across the country, including Stockton Unified School District, Modesto City Schools and Ocean View School District are prioritizing smart charging and energy management, visit mobilityhouse.com.
About The Mobility House
The Mobility House’s mission is to create an emissions-free energy and mobility future. Since 2009, the company has developed an expansive partner ecosystem to intelligently integrate electric vehicles into the power grid, including electric vehicle charger manufacturers, 1,000+ installation partners, 80+ energy suppliers, and automotive manufacturers ranging from Audi to Tesla. The intelligent Charging and Energy Management system ChargePilot® and underlying EV Aggregation Platform enable customers and partners to integrate electric vehicles into the grid for optimized and future proof operations. The Mobility House’s unique vendor-neutral and interoperable technology approach to smart charging and energy management has been successful at over 800 commercial installations around the world. The Mobility House has more than 250 employees across its operations in Munich, Zurich and Belmont, Calif. For more information visit mobilityhouse.com.
Christine Bennett for The Mobility House
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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
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Dan Complin
Manager, Investor Relations
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CHICAGO--(BUSINESS WIRE)--Kanbrick, the long-term investment partnership focused on acquiring and building founder- and family-owned businesses, today announced the appointment of Terry McNew as Chief Executive Officer of Marine Concepts, a leading marine aftermarket platform.
McNew previously served as CEO of MasterCraft, where he meaningfully increased sales and profitability and led the company through its 2015 initial public offering. He was responsible for modernizing the company’s design and manufacturing processes. He also led notable acquisitions, including Crest and NauticStar, while also launching the Aviara brand. More recently, McNew served as CEO of Klaussner Home Furnishings.
McNew assumes the role from founder Randy Kent, who remains a partner and owner in the business and focuses on product innovation and strategic partnerships. Kent patented the technology behind Marine Concepts’ flagship brand, a semi-permanent modular system that protects boats with ease, taking the time-consuming task down to minutes.
“We’re excited to bring Terry aboard as we build a strong marine platform together,” said Kanbrick Co-Founder Tracy Britt Cool. “We’re aligned in our vision to develop the preeminent platform to better serve the needs of recreational boating enthusiasts, and it’s clear that Terry’s in-depth experience and passion for boating will help take Marine Concepts to the next stage. We’re excited to work together to continue to strengthen Marine Concepts’ reputation and deepen the loyalty among boaters that Randy and the team have earned over the last 17 years.”
In his role as CEO, McNew will oversee the day-to-day operations and the company’s long-term organic growth and acquisition strategy in close partnership with the Kanbrick team. Kanbrick acquired Marine Concepts in June 2022 to build a leading platform of marine accessory brands by investing in product, expanding into new geographies and channels, and strengthening the customer experience.
“I’m thrilled to join Marine Concepts,” McNew said. “Randy and the team have created the world’s best boat cover, and I look forward to building on its success by entering new markets, expanding our product offering, and acquiring additional high quality after-market marine products that deliver a world-class experience for boaters.”
About Kanbrick
Kanbrick is a long-term investment partnership founded by Tracy Britt Cool and Brian Humphrey based in Chicago, Illinois. Kanbrick is focused on acquiring, growing, and building great businesses and provides a long-term home for companies. Kanbrick partners closely with owners and executives, taking a hands-on approach to empower people and companies reach their full potential. For more information, visit: www.kanbrick.com.
About Marine Concepts
Marine Concepts, based in Kaiser, Missouri, is a leading designer and manufacturer of custom boat cover systems designed to reinvent the experience of covering a boat. The Company sells direct to boating enthusiasts in the aftermarket channel. Its products utilize digital measurements, customization software, and patented design systems to enable boats to be covered quickly, easily, and securely. For more information, visit: www.worldsbestboatcover.com.
Chelsea Allison
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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.
Silicon Valley Veteran Paul Sells Leads ABS Affiliate to Create an Industry First Software as a Service Company
HOUSTON--(BUSINESS WIRE)--ABS today announced the launch of ABS Wavesight™, a new maritime software as a service (SaaS) company dedicated to helping shipowners and operators streamline compliance while maintaining competitive, more efficient, and sustainable operations.
Built on ABS’ 160-year legacy of maritime innovation and safety, ABS Wavesight combines the industry-leading platforms Nautical Systems™ and My Digital Fleet™, which are collectively installed on more than 5,000 vessels across the global fleet.
"ABS Wavesight stands well above other maritime software companies by uniting the expansive offerings of Nautical Systems and the innovative performance and compliance tools of My Digital Fleet into one powerful new SaaS business,” said Christopher J. Wiernicki, ABS Chairman, President, and CEO. “ABS Wavesight complements ABS’ core classification services and is an important part of our overall enterprise strategy to support our clients and the industry in the development of cleaner, smarter and safer shipping operations."
Unlike competitors, ABS Wavesight’s purpose-built, integrated solutions ensure a cohesive user experience that reduces costs, improves safety and designs out inefficiencies.
“Our vision for ABS Wavesight is to provide our clients with unmatched value through a suite of products that offer integrated solutions vs. fragmented vendor offerings, open APIs vs. closed systems that don’t share data, and a flexible architecture for easy system integration and maintenance vs. costly upgrades every few years,” said Paul Sells, ABS Wavesight CEO and President. “Our primary focus is developing software that helps clients gain more visibility into their existing operations to mitigate risk and deliver operational excellence as shipping pushes toward a new horizon.”
ABS Wavesight’s flagship products include My Digital Fleet, an AI-driven analytics and performance visualization platform, and Nautical Systems, the fleet management system that provides comprehensive tools to improve reliability and performance. ABS Wavesight builds on these capabilities by seamlessly integrating both products to offer unparalleled visibility into fleet assets and real-time insights that drive sustainable operations and reduce operational risks.
Key benefits of ABS Wavesight and its product features:
ABS Wavesight promotes strategic collaboration among industry partnerships, such as Kongsberg Digital and Sofar Ocean, with leading operators and owners, such as Capital Ship Management and Diana Shipping Services S.A., which are implementing the My Digital Fleet platform to support organizational sustainability goals.
To learn more about ABS Wavesight, visit the company’s website at www.abswavesight.com.
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About ABS Wavesight
ABS Wavesight™, an ABS-affiliated company, is a global leader in the maritime technology industry pushing to decarbonize operations at sea through digitalization. Built on the successes of ABS’ industry-leading My Digital Fleet™ and Nautical Systems platforms, ABS Wavesight provides maritime clients innovative fleet management software to improve the reliability and performance of their shipping operations. ABS Wavesight’s portfolio is comprised of best-in-class proprietary technology and third-party integrations that offer unparalleled insight into every aspect of a fleet’s operations.
About ABS
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.
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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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LONDON--(BUSINESS WIRE)--#Hydrogen--The sport for purpose electric racing series, Extreme E, has today announced Kaizen Clean Energy (KCE) as its Official Clean Energy Technology Provider for Season 3, starting in 2023.
Kaizen Clean Energy will support ENOWA, NEOM’s energy, water and hydrogen subsidiary, and Green Hydrogen Power Partner to Extreme E, in delivering a pioneering hydrogen microgrid solution to the championship.
Alejandro Agag, founder and CEO, Extreme E, said: “Extreme E required a mobile clean energy solution that could be transported easily on the St Helena and deployed at our races in remote locations. Kaizen Clean Energy’s system is perfectly aligned with Extreme E’s needs. Their unique hydrogen production and purification technology will enable Extreme E to charge its race fleet and support the series’ goals to take its entire event operations power off grid with 100% carbon neutral hydrogen energy – which will be a first in motorsport.”
KCE will be manufacturing, integrating, and deploying their hydrogen production systems from their facility in Texas for use in microgrid power, hydrogen fueling, and industrial hydrogen supply starting in the first quarter of 2023.
“We are thrilled to partner with Extreme E to help charge their fleet and power their event operations using locally generated 100% clean energy”, said Robert Meaney, Co-Founder of Kaizen Clean Energy. “KCE is committed to supporting Extreme E’s vision for an equitable and environmentally beneficial racing series using our microgrid technology to provide safe, economically viable, and logistically friendly method for off grid hydrogen infrastructure.”
Heading into its third season, Extreme E is a radical off-road racing series which showcases electric SUVs and futuristic technologies in some of the world’s most remote and challenging environments.
This five-event global voyage utilises its sporting platform for the purpose of promoting electrification, environment and equality. The series’ goal is to highlight the impact of climate change in some of the world’s most endangered environments, promote the adoption of electric vehicles to pave the way for a lower carbon future, and provide a world-leading gender-equal motorsport platform.
The St Helena, a refitted former Royal Mail ship, transports the Championship’s freight and logistics, including the racing cars and all paddock infrastructure, around the world, as a lower carbon transportation option compared to airfreight.
Kaizen Clean Energy’s technical partnership supports Extreme E’s goal of having the lowest carbon footprint in motorsport, and crucially creating minimal local impact on the environments in which it races.
Season 3 of Extreme E kicks off in NEOM, Saudi Arabia on March 11-12th, 2023, before heading to Scotland, Sardinia, the Amazon or the USA, and a finale in Chile.
To learn more about Extreme E, visit - www.Extreme-E.com
NOTES TO EDITORS
About Extreme E: Extreme E is a radical off-road racing series, founded by the same team behind Formula E, which showcases electric SUVs and futuristic technologies in some of the world’s most remote and challenging environments.
This five-event global voyage utilises its sporting platform for the purpose of promoting electrification, environment and equality. The series’ goal is to highlight the impact of climate change in some of the world’s most endangered environments, promote the adoption of electric vehicles to pave the way for a lower carbon future, and provide a world-first gender-equal motorsport platform.
The first sport to ever be built out of a social purpose, Extreme E aims to minimise environmental impact while maximising awareness, racing in places that have already been damaged or affected by climate change or human interference and taking fans deep into the heart of the most pressing issues facing our planet’s future.
Not only that, but Extreme E is also helping the car industry to develop future-facing technology using racing as a platform for road innovation, which accelerates change ten-fold.
About Kaizen Clean Energy: KCE, a manufacturer of hydrogen generators licensed from Element 1, is developing integrated solutions for electric vehicle (EV) charging, hydrogen fueling, and distributed power for the grid and critical assets. KCE offers it’s mobile microgrid to customers through an Energy as a Service contract, which eliminates large capital expenses and provides customers with the flexibility to scale with energy needs over time. For more information, visit www.kaizencleanenergy.com.
Season 2 Calendar:
Extreme E Season 3 calendar (2023):
March 11-12: Saudi Arabia
May 13-14: Scotland
July 8-9: Sardinia, Italy*
September 16-17: Brazil or USA
December 2-3: Chile
About NEOM: NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive towns and cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.
For further information email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.neom.com and www.neom.com/en-us/newsroom
About ENOWA: ENOWA is a world-class energy, water and hydrogen company founded in NEOM, Saudi Arabia. ENOWA produces and delivers clean and sustainable resources for industrial and commercial applications using a customer-centric smart and connected system, designed to be circular and takes advantage of NEOM's optimal solar and wind energy profile. ENOWA benefits from NEOM's greenfield site, which has no legacy infrastructure, to advance Energy, Water, and Hydrogen innovation.
ENOWA will act as a catalyst and incubator for developing new, sustainable energy and water businesses while creating a robust economic sector regionally. Through its commitment to renewable energy and efficient water management, ENOWA seeks to become a global reference for industry leaders and setting a benchmark for sustainable economic circular systems around the world.
For more information, please visit enowa.neom.com
About Continental Tires: Founding Partner and Official Tire Partner
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent, and affordable solutions for vehicles, machines, traffic and transportation.
The tyres business area has 24 production and development locations worldwide. Continental is one of the leading tyre manufacturers with more than 56,000 employees and offers a broad product range for passenger cars, commercial and special-purpose vehicles as well as two-wheelers. Through continuous investment in research and development, Continental makes a major contribution to safe, cost effective and ecologically efficient mobility. The portfolio of the tyres business area includes services for the tyre trade and fleet applications, as well as digital management systems for tyres.
Continental has developed a new high-performance tyre for Extreme E Season 2, redesigned to include the use of more sustainable materials. Each of the 30 tyres that Continental has supplied to all ten Extreme E teams now contains recycled polyester made from approximately 60 PET bottles. In total, around a third of each second-generation CrossContact Extreme E tyre consists of recycled and renewable raw materials.
About CBMM: Founding Supplier
CBMM | Niobium is a founding supplier of Extreme E and the Championship’s official Niobium Technology Supplier and Chassis Technology Supplier.
Critical to the automotive sector, niobium produces stronger, lighter and more sustainable cars with better energy efficiency. Its technologies are already widely applied in different areas, including light-weighting, safety, emissions reduction and electronics that will help lead to a sustainable sector transformation. Key applications of niobium in the Mobility sector include chassis, brakes and exhaust systems, drivetrains, batteries and EV charging stations and any number of ancillary components. Its qualities mean materials can be made lighter, stronger, more robust and more reliable – all while being more sustainable than other materials.
CBMM offers technical innovation to customers around the globe through a team of over 2,000 highly trained, dedicated professionals providing cutting-edge niobium products and technology to over 400 clients in around 40 countries.
About LuisaViaRoma: Official Fashion Partner
Defined by the Financial Times as “a haven for directional fashion,” LUISAVIAROMA.COM is the top online luxury fashion destination with 5,000,000 visitors per month and worldwide shipping. With each new season, the website presents the collections of more than 600 established designers and young emerging talents.
About Zenith: Official Timekeeper and Founding Partner
Zenith exists to inspire individuals to pursue their dreams and make them come true – against all odds. Since its establishment in 1865, Zenith became the first watch manufacture in the modern sense of the term, and its watches have accompanied extraordinary figures that dreamt big and strived to achieve the impossible – from Louis Blériot’s history-making flight across the English Channel to Felix Baumgartner’s record-setting stratospheric free-fall jump. Zenith is also highlighting visionary and trailblazing women – past and present – by celebrating their accomplishments and creating in 2020 its first-ever collection dedicated entirely to them, Defy Midnight.
With innovation as its guiding star, Zenith features exceptional in-house developed and manufactured movements in all its watches. Since the creation of the El Primero in 1969, the world’s first automatic chronograph calibre, Zenith has gone on to master fractions of the second with the Chronomaster Sport and its 1/10th of a second precision and the DEFY 21 with a precision of 1/100th of a second.
About Allianz: Founding Partner and Official Insurance Partner
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 790 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets.
About Vodafone Business: Official Technology and Communication Partner
With expertise in connectivity, global scale and the leading IoT platform, Vodafone Business is a leading technology communications company helping organisations succeed in a digital world and keeping society connected. Vodafone’s purpose is to connect for a better future, enabling an inclusive and sustainable digital society, and many of its solutions have sustainability and inclusivity embedded.
Unique in its scale as the largest pan-European and African technology communications company, Vodafone transforms the way we live and work through its innovation, technology, connectivity, platforms, products and services. Vodafone operates mobile and fixed networks in 21 countries, and partners with mobile networks in 52 more. As of 31 December 2021, they had over 300m mobile customers, more than 28m fixed broadband customers and over 22m TV customers.
This collaboration will see Vodafone Business leading innovations and capabilities such as 5G, MPN, IOT and MEC, integrated into Extreme E’s global operations and will include full involvement in the purpose- driven elements of the series, with special prominence on Extreme E’s Legacy Programmes and the Science Laboratory on board the St Helena. Through its IOT solutions, Vodafone Business is helping sustainability efforts, including agriculture, forestation and decarbonisation of energy grids.
Find out more on http://www.Vodafone.com/business and follow Vodafone on its social media channels:
Twitter: @VodafoneGroup
LinkedIn: www.linkedin.com/company/vodafone
About Neat Burger: Official Plant-based Partner
Neat Burger is one of the world’s fastest growing plant-based sustainable burger chains, backed by key investors Formula 1 Champion and X44 Extreme E team owner, Lewis Hamilton, and actor and environmentalist, Leonardo DiCaprio.
Established in 2019, Neat Burger has achieved not only a loyal fanbase but industry recognition too, having won for a second year running the UK’s Best Vegan Restaurant of the Year at the Deliveroo Restaurant Awards and it was nominated for the 2021 GQ Food & Drink Sustainability Award. Most recently, the brand was awarded PETA’s inaugural Company of the Year Award for its game changing approach to plant-based diets, encouraging people to eat delicious, protein-packed plant-based meals.
As part of its mission to create a sustainable future, Neat Burger is working with Eden Reforestation Projects on its large scale reforestation initiatives. In 2021, Neat Burger funded the planting of over one million mangrove trees in Madagascar.
About EY: Official Innovation Partner
EY is a global leader in assurance, tax, strategy, transaction and consulting services. The insights and quality services they deliver help build trust and confidence in capital markets and in economies the world over. EY develops outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, they play a critical role in building a better working world for their people, for their clients and for their communities.
EY originally joined the Championship to help Extreme E achieve its commitment of minimizing the overall footprint whilst creating a positive legacy. In collaborating with Extreme E, EY has become a vital part of creating an Environment Impact Assessment framework which further drives the championship in the direction of positive change. Whilst Extreme E strives to race without leaving a trace, the framework provided by EY has allowed the championship to minimize its environmental impact across each race location. Both prior and post-racing impact assessments have allowed Extreme E to strategically plan their actions within these areas.
About INTERprotección: Official Insurance Broker
INTERprotección is composed of a group of Mexican insurance, reinsurance and surety bond brokerage companies. With global presence and recognition, INTERprotección has more than 40 years of experience in management and comprehensive risk consulting in the Mexican market. Its business model is focused on bringing the client to the forefront and offering them the best service through innovative and disruptive products, more recently with its new brand inter.mx, its insurance digital platform that is transforming the insurtech game.
About Enel X Way: Official Smart Charging Partner
Enel X Way is the Enel Group's new global business line entirely dedicated to electric mobility. Currently, Enel X Way manages approximately 320,000 charging points, both directly and through interoperability agreements in place worldwide1. As a global platform for e-mobility, the company is focused on developing flexible charging technologies and solutions to improve the customer experience by supporting the electrification of transport for consumers, businesses, cities and public administrations.
Find out more on https://enelxway.it/en/home and follow Enel X Way on its social media channels:
LinkedIn: Enel X Way
Twitter: @enelxway
Instagram: @enelxway
Facebook: @enelxway
1 Public and private charging points, including points of interoperability.
For more information on Extreme E, please contact:
Extreme E Communications:
Simra Gulzar, Extreme E
E: This email address is being protected from spambots. You need JavaScript enabled to view it. / +44 7552 858229
Josh Bell, MPA Creative
E: This email address is being protected from spambots. You need JavaScript enabled to view it. / +44 7557 102540
Diego Bustos, BE Mass Media (Latin America -including Brazil-, US Hispanics, Spain, Portugal)
E: This email address is being protected from spambots. You need JavaScript enabled to view it. / +569-8829-9138 or +1-660-847-4645
Please visit the Extreme E media centre to access images, videos and press releases: https://www.extreme-e.com/en/mediacentre
For more information on Kaizen Clean Energy, please contact:
Eric Smith, Kaizen Clean Energy
E: This email address is being protected from spambots. You need JavaScript enabled to view it. / +1 346-337-7788
Please visit the Kaizen Clean Energy website to access video, images, and additional information: https://kaizencleanenergy.com
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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515.494.3718
DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.
'Asia Pacific Renewable Energy Policy Handbook 2022 report covers 17 major countries in the Asia Pacific region - Australia, Bangladesh, China, India, Indonesia, Japan, Kazakhstan, Laos, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
The report offers comprehensive information on major policies governing the renewable energy market in these countries. 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 by the countries in the region.
Scope
Reasons to Buy
Key Topics Covered:
1. Executive Summary
2. Renewable Energy Policy, Australia
2.1 Renewable Energy Market, Overview
2.2 Renewable Energy Policy Framework
2.3 State Level Policies and Incentives-South Australia
2.4 State Level Policies and Incentives-New South Wales (NSW)
2.5 State Level Policies and Incentives-Victoria
2.6 State Level Policies and Incentives-Tasmania
2.7 State Level Policies and Incentives-Queensland
2.8 State Level Policies and Incentives-Australian Capital Territory
2.9 State Level Policies and Incentives-Western Australia
2.10 State Level Policies and Incentives-Northern Territory
3. Renewable Energy Policy, Bangladesh
3.1 Renewable Energy Market, Overview
3.2 Renewable Energy Targets
3.3 Renewable Energy Policy
3.4 Hydrogen Energy
3.5 Sustainable and Renewable Energy Development Authority Act
3.6 The Bangladesh Energy Regulatory Commission (BERC) Act 2003
3.7 Net Metering
3.8 Solar Home Systems Program
3.9 New Renewables Policy
4. Renewable Energy Policy, China
4.1 Renewable Energy Market, Overview
4.2 Renewable Energy Targets
4.3 Renewable Energy Law
4.4 International Science and Technology Co-operation Program for New and Renewable Energy
4.5 The 14th Five-Year Plan
4.6 Hydrogen Energy in China
4.7 Renewable Portfolio Standard (RPS)
4.8 Carbon Intensity Target
4.9 National Emission Trading Scheme (ETS)
4.10 Global Environment Facility (GEF) Grants
4.11 Subsidy-Free Solar, Wind Power Policy
4.12 Financial Incentives and Policy Support for Solar, China
4.13 Financial Incentives and Policy Support for Wind, China
4.14 Financial Incentives and Policy Support for Hydropower, China
4.15 Financial Incentives and Policy Support for Biopower, China
5. Renewable Energy Policy, India
5.1 Renewable Energy Market, Overview
5.2 Electricity Act of 2003
5.3 Draft Electricity (Amendment) Bill, 2020
5.4 Cross Border Power Trade Regulation, 2020
5.5 Renewable Energy Targets
5.6 Scheme for Supply of Round-The-Clock (RTC) Renewable Energy
5.7 National Action Plan on Climate Change
5.8 Amendments in National Tariff Policy
5.9 Renewable Energy Certificates
5.10 Memorandum- "Make in India" for Local Content in Renewable Energy Products
5.11 Memorandum-Quality of Solar Modules
5.12 National Wind-Solar Hybrid Policy
5.13 COVID 19 Pandemic Extensions
5.14 Interstate Transmission Network System (ISTS)-Connected Wind-Solar Hybrid Power Projects
5.15 Green Energy Corridor
5.16 Extension on Waiver of Inter-State Transmission Charges for Wind and Solar Projects
5.17 National Renewable Energy Act, 2015
5.18 Green Term Ahead Market (GTAM)
5.19 Union Budget, Allocation for Power Sector
5.20 Green Hydrogen
5.21 Renewable Energy Auctions
5.22 Feed-in-Tariffs
5.23 Support for Renewable Energy, India
5.24 Central Government Schemes for the development of power sector
6. Renewable Energy Policy, Indonesia
6.1 Renewable Energy Market, Overview
6.2 National Energy Policy
6.3 New Tariff Regime for Renewables
6.4 Indonesia Electricity Supply Plan (RUPTL), 2021-2030
6.5 Revocation of 32 regulations in the Energy and Minerals Sector in 2018
6.6 Other Electricity Sector Regulations
6.7 Net-metering scheme
6.8 Value-Added Tax and Import Duty Exemption for Renewable Energy Property
6.9 New Geothermal Law
6.10 Geothermal Fund
6.11 Biofuel Consumption Mandates
6.12 Other Fiscal Incentives
7. Renewable Energy Policy, Japan
7.1 Renewable Energy Market, Overview
7.2 Renewable Energy Targets
7.3 Sixth Strategic Energy Plan, 2021
7.4 Hydrogen Energy in Japan
7.5 Japan Renewable Energy Policy Platform
7.6 Amendment of the Renewable Energy Act (New Feed-in Tariff Act)
7.7 Feed-in Tariffs for Renewable Energy
7.8 Renewable Energy Auctions
7.9 RE 100
7.10 Establishment of New Energy Development Organization
7.11 Renewable Energy Certificates (REC) in Japan
7.12 Act No. 89
7.13 Cool Earth-Innovative Energy Technology Program
8. Renewable Energy Policy, Kazakhstan
9. Renewable Energy Policy, Laos
10. Renewable Energy Policy, Malaysia
11. Renewable Energy Policy, New Zealand
12. Renewable Energy Policy, Pakistan
13. Renewable Energy Policy, Philippines
14. Renewable Energy Policy, Singapore
15. Renewable Energy Policy, South Korea
16. Renewable Energy Policy, Taiwan
17. Renewable Energy Policy, Thailand
18. Renewable Energy Policy, Vietnam
For more information about this report visit "Asia Pacific Renewable Energy Policy Handbook 2022"
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For U.S./ CAN Toll Free Call 1-800-526-8630
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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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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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210-737-4478
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
248.464.0125
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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.
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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
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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
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