Partnership Will Focus on Sustainable Design, Achieving High Environmental Performance and Comfort for WoHo’s Products and Projects
CAMBRIDGE, Mass.--(BUSINESS WIRE)--WoHo (World Home), a technology company that transforms the way spaces are conceived and created, today announced it is working in partnership with Transsolar, an international climate engineering firm that creates climate-responsive built environments. The two companies are collaborating to ensure critical climate principles are applied to the development and manufacturing of WoHo’s foundational low-to-high rise construction components, to meet and exceed sustainability standards.
WoHo’s systems, which are made up of a series of discrete products, can be scaled and configured to span residential and commercial buildings such as multifamily housing, hotels, dormitories, labs and offices. The components are intelligently designed and engineered, and efficiently fabricated and assembled, enabling unprecedented transparency and predictability in the construction and operation of WoHo buildings. WoHo’s systems also deliver flexibility that translates into the customization of each project.
As a specialist in climate and comfort engineering, Transsolar, with the lead of its CEO, Matthias Schuler, will contribute to the integral design approach of WoHo's products and projects with a special focus on the optimization of energy flows and the integration of passive strategies. Through state-of-the-art computer-aided design tools for thermal building simulation, daylight calculation and airflow assessment, WoHo’s systems will deliver highly responsive environments that minimize energy consumption and maximize comfort.
“The construction industry is responsible in large part for the carbon footprint of buildings and users. WoHo is looking at sustainability from all possible angles, from material selection and sourcing to the ultimate design of every component, system and space. We are already making informed decisions that will have a huge impact in the energy consumption and CO2 emissions of WoHo's buildings and factories, both short and long term,” said Debora Mesa Molina, co-founder and president of WoHo. “Matthias and his team are exceptional companions, as we set the stage for achieving our very ambitious climate goals. Transsolar's inventiveness and competence are a great fit for WoHo.”
Leveraging climate engineering in the early stages of designing a structure means the building physics can be adapted to control environmental pollution, conform to energy requirements, and lower costs across the life cycle of the development.
“WoHo’s design and construction mean that having a low carbon footprint does not have to negatively impact affordability or architectural quality,” said Matthias Schuler, founder of Transsolar and Adjunct Professor of Environmental Technology at Harvard University Graduate School of Design. “Its modular approach holds great promise to integrate alternative heating and cooling systems, meet regulatory compliance, as well as be scaled and constructed to address climate challenges.”
WoHo recently announced a collaboration with Arup Engineering to ensure the code compliance and constructability of the high quality structural and MEP systems designed into its building components. The company has finalized the prototyping stage of its Suite System and is currently preparing to develop its first projects in the US and Europe.
About WoHo
WoHo (World Home) is transforming the way spaces are conceived and created, enabling a new way to build. WoHo systems construct low-to-high-rise structures with unprecedented quality, precision and efficiency. By integrating design, manufacturing and assembly, our system allows for quality and collaboration at scale, with maximum efficiency. Find WoHo online at: http://woho.us/
About Transsolar
Transsolar is an international climate engineering firm determined to create exceptional, highly comfortable indoor and outdoor spaces with a positive environmental impact. The firm believes that the very measures taken to create remarkable architecture can simultaneously enhance human experience and minimize resource use. To Transsolar, sustainability is not separate from design, but an indispensable component that enhances the experience of the built environment. To learn more, visit Transsolar at: www.transsolar.com
WoHo
Debora Mesa Molina
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SCHENECTADY, N.Y.--(BUSINESS WIRE)--Distributed Solar Development (DSD) announced today it has secured a two-year, $150 million construction revolver with Rabobank, a global food and agribusiness bank and leader in sustainability-oriented banking, to finance its expanding pipeline of distributed generation solar projects in the commercial and industrial (C&I) market.
The flexible structure of the Rabobank construction revolver aligns strongly with the $300M debt facility that DSD closed with Credit Suisse in late January.
“This construction revolver provides a flexible back leverage solution that will enable us to continue scaling as we work to become an industry hub for the C&I market,” says Greg Fabso, CFO at DSD. “Our expertise and experience enable a true one-stop solution for origination, development, financing, and management.”
The revolver incorporates multiple tax equity partnerships and will deliver capital throughout DSD’s business cycle, including an equipment supply sub-limit.
“Rabobank was delighted to arrange and structure this facility for the DSD team,” says Claus Hertel, Managing Director, Project Finance at Rabobank. “Distributed generation in the C&I space is becoming increasingly relevant and we are thrilled to support a leading developer with strong U.S. growth ambitions.”
About Distributed Solar Development
Distributed Solar Development (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more, visit dsdrenewables.com. Connect with us on LinkedIn and Twitter.
About Rabobank Group
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in 38 countries worldwide. Founded over a century ago, Rabobank today is one of the world’s largest banks with over $765 billion in assets. In the Americas, Rabobank is a premier bank to the food and agriculture industry, as well as a leading project financier of solar, wind, bioenergy, and energy infrastructure projects, providing in-depth knowledge and expertise as well as full arranging, underwriting and syndication capabilities. Rabobank has financed more than 6GW of renewable energy projects to date and is dedicated to supporting the financing of the energy transition and new clean technologies. Additional information is available on our website or on our social media platforms, including Twitter and LinkedIn.
Meghan Gainer
Head of Marketing & Communications, Distributed Solar Development
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518-369-3692
Cassie Olszewski
Gregory FCA for Distributed Solar Development
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484-200-0091
Catharine Rossano
Executive Director, Marketing & Communications, Rabobank
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(212) 808-2576
SAN FRANCISCO--(BUSINESS WIRE)--Volta Industries, Inc. (“Volta”) today announced that its management team will virtually attend the following investor conferences:
Deutsche Bank EV Startup Virtual Bus Tour
March 5, 2021
Baird Vehicle Technology & Mobility Conference
March 10, 2021
Cowen Mobility Disruption Conference
March 11, 2021
33rd Annual Roth Conference
March 17, 2021
UBS Energy Transition Call Series
March 24, 2021
As previously announced on February 8, 2021, Volta, an industry leader in commerce-centric electric vehicle (“EV”) charging networks, entered into a business combination agreement and plan of reorganization (the “Business Combination Agreement”) with Tortoise Acquisition Corp. II (NYSE: SNPR), a publicly traded special purpose acquisition company with a strategic focus on energy sustainability and decarbonizing transportation. Upon the closing of the proposed transaction, the combined entity will be named Volta Inc. and remain on the New York Stock Exchange (“NYSE”) under the new ticker symbol “VLTA”.
Completion of the proposed business combination is subject to, among other things, the approval of the shareholders of Tortoise Acquisition Corp. II and satisfaction of the other conditions to closing stated in the Business Combination Agreement. All existing Volta shareholders and investors will continue to hold their equity ownership in the combined company, including Volta management and others.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.
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 Tortoise Acquisition Corp. II’s proposed acquisition of Volta, Tortoise Acquisition Corp. II’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance are forward-looking statements. When used in this press release, 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, Tortoise Acquisition Corp. II and Volta disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Tortoise Acquisition Corp. II and Volta caution 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 either Tortoise Acquisition Corp. II or Volta. In addition, Tortoise Acquisition Corp. II cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Tortoise Acquisition Corp. II or Volta following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Tortoise Acquisition Corp. II, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts Tortoise Acquisition Corp. II’s or Volta’s current plans and operations as a result of the announcement of the transactions; (v) Volta’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Volta to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Volta may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release, 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 the operations and projections discussed herein can be found in Tortoise Acquisition Corp. II’s periodic filings with the Securities and Exchange Commission (the “SEC”), including Tortoise Acquisition Corp. II’s final prospectus for its initial public offering filed with the SEC on September 14, 2020. Tortoise Acquisition Corp. II’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
About Volta
For over a decade, Volta has been building a nationwide electric vehicle charging network to drive the world forward. Named after Alessandro Volta, the inventor of the electric battery, Volta's award-winning charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers. Strategically located in places where consumers already spend their time and money, Volta's chargers are among the most used electric vehicle charging stations in the United States. Headquartered in San Francisco, Volta is bringing to communities the means of building a sustainable fueling network for the 21st century. To learn more, visit www.voltacharging.com
About Tortoise Acquisition Corp. II
Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Tortoise Acquisition Corp. II’s expertise spans across the entire energy and infrastructure value chain. Tortoise Acquisition Corp. II’s strategy is to combine with a company to take advantage of the global opportunities created by the energy transition including clean energy generation and storage, alternative fuels and transportation, technological advances and changes in energy policies. To learn more, visit https://tortoisespac.com.
Important Information for Investors and Shareholders
In connection with the proposed business combination, Tortoise Acquisition Corp. II will file a registration statement on Form S-4 (the “Registration Statement”) with the SEC. The Registration Statement will include a proxy statement/prospectus of Tortoise Acquisition Corp. II. Additionally, Tortoise Acquisition Corp. II will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Security holders of Tortoise Acquisition Corp. II are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Tortoise Acquisition Corp. II and its directors and officers may be deemed participants in the solicitation of proxies of Tortoise Acquisition Corp. II’s shareholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Tortoise Acquisition Corp. II’s executive officers and directors in the solicitation by reading Tortoise Acquisition Corp. II’s final prospectus for its initial public offering filed with the SEC on September 14, 2020, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Tortoise Acquisition Corp. II’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
Volta Investor Relations
Anthony Rozmus
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Company expands ESG lending programs to increase liquidity, expand financing flexibility and improve loan pricing for residential solar panels and geothermal systems
ATLANTA--(BUSINESS WIRE)--MAXEX, the first digital mortgage exchange to enable the buying and selling of residential loans through a single clearinghouse, announced the launch of two new lending programs to support the growth of green energy home improvements. The programs, developed in collaboration with J.P. Morgan, further expand MAXEX’s new Environmental, Social and Corporate Governance (ESG) business line.
The U.S. lacks sufficient low-cost options to help borrowers finance green energy home improvements such as solar panels and geothermal units, despite increasing consumer demand. As a result, borrowers are often forced to pursue high interest rate loans with short maturities, utilize costly leasing options, or forego such improvements altogether.
MAXEX’s new sustainable lending programs expand financing flexibility by providing pricing incentives and enabling borrowers to finance green energy improvements into their mortgage balance at the time of purchase or refinance. This allows homeowners to amortize the cost of these green energy home improvements over a 30-year term at a below market interest rate. These programs are now available to MAXEX’s growing nationwide network of more than 170 community banks, regional banks, credit unions and independent mortgage lenders.
“MAXEX is passionate about leveling the playing field for Main Street banks by using our rapidly-growing digital exchange to deliver low-cost capital that drives social impact,” said Tom Pearce, Chairman and CEO of MAXEX. “These ESG programs fill a significant void in the mortgage market by increasing incentives for green energy improvements.”
MAXEX’s ESG programs for green energy home improvements are available for loan amounts ranging from $400,000 to $3,000,000 and include:
MAXEX launched its ESG business line on December 21, 2020 with MAXEX Opportunity and MAXEX Opportunity Express, which offer preferred pricing for minority, women and veteran-owned lenders. To date, eligible lenders have reached/achieved approximately $600 million in lock trading volume under these programs.
About MAXEX
MAXEX is the first digital mortgage exchange to enable buying and selling residential loans through a single clearinghouse. We connect bank and non-bank lenders with premier investors including Wall Street banks, real estate investment trusts and insurance companies to enable faster, more efficient liquidity. MAXEX is an Atlanta-based technology company led by mortgage experts and financially backed by leading private equity and capital market investors. Learn more by visiting www.maxex.com.
Samantha Hall
For MAXEX
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ST. JOHN’S, Newfoundland--(BUSINESS WIRE)--$ARR.TO #renewableenergy--Altius Renewable Royalties Corp. (TSX: ARR) (“ARR” or the “Company”) announced today it has completed its initial public offering (the “Offering”) of 9,100,000 common shares (“Shares”) at a price of C$11.00 per share (the “Offering Price”) for total gross proceeds of C$100,100,000.
Following the completion of the Offering, Altius Minerals Corporation (TSX: ALS) is expected to hold 15,638,639 Shares of the Company or approximately 61% of the issued and outstanding Shares of the Company (or approximately 58% of the issued and outstanding shares of the Company if the over-allotment option is exercised in full).
The Shares previously commenced trading on the Toronto Stock Exchange under the symbol “ARR” on February 26, 2021 on an "if, as and when issued basis". Following the closing of the Offering the Shares will now trade on the TSX on a “regular basis”.
The Offering is being made through a syndicate of underwriters led by TD Securities Inc. and Scotia Capital Inc., together with a syndicate comprised of Raymond James Ltd., Cormark Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc., National Bank Financial and Haywood Securities Inc. (collectively, the “Underwriters”).The Company granted to the Underwriters an over-allotment option to purchase up to an additional 1,365,000 Shares at the Offering Price for additional gross proceeds to the Company of up to C$15,015,000 if the option is exercised in full. The over-allotment option can be exercised for a period of 30 days from the closing date of the Offering.
Brian Dalton CEO of ARR commented, “On behalf of the team I would like to thank our new shareholders for the trust they have placed in us to execute on the building of an innovative renewable energy royalty business that will contribute directly to enabling of the energy transition. With almost 1200 MW of development projects made subject to royalty thus far, we embrace the challenge of creating further growth and positive impact.”
About ARR
ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the final prospectus of the Company dated February 24, 2021. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
For further information:
Flora Wood
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 1.877.576.2209
Direct: +1(416)346.9020
Ben Lewis
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 1.877.576.2209
Robust technology platform empowers 1,000+ partner contractors to seamlessly offer loans to finance residential solar systems and other home improvements for both English and Spanish-speaking homeowners via a phone, tablet or computer
NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--Sunlight Financial, a premier, technology-enabled point-of-sale financing company, today announced the addition of Spanish loan products to enhance its industry-leading, proprietary technology platform, Orange®. More than 15,000 professionals use Sunlight’s technology platform to simplify and streamline the sale and installation of residential solar systems and other home improvements.
“We are thrilled to begin providing loans with Spanish documentation to Spanish-speaking homeowners nationwide,” said Sunlight Financial Chief Executive Officer Matt Potere. “The addition of Spanish-language capabilities to our Orange® technology platform will help our solar and home improvement contractors reach a broader group of potential customers to grow their businesses and support the further expansion of solar, specifically, to underserved communities that have had difficulty accessing the market because of language barriers.”
Orange® earns a 4.5+ star rating on the App Store. Sunlight’s proprietary technology platform provides a simple, seamless experience, with instant credit decision making and automated loan underwriting, processing and funding. In addition to Spanish-language documentation, other recent enhancements to Orange® include:
“Each Orange® update raises the bar for what installers and homeowners expect from their financing partner,” continued Potere. “Sunlight’s new Spanish loan products expand our addressable market and deliver the best possible experience for both our partners and homeowners.”
Sunlight partners can download the latest version of Orange® via iOS or Android. Prospective partners can learn more about Sunlight and apply to partner with us at https://sunlightfinancial.com/enroll/.
On January 23, 2021, Sunlight entered into a business combination agreement with Spartan Acquisition Corp. II (NYSE: SPRQ). The business combination is expected to close during the second quarter of 2021. Upon closing of the transaction, the combined public company will be named Sunlight Financial Holdings Inc. Sunlight Financial LLC will be the new public holding company’s sole operating subsidiary and Sunlight’s existing management team will continue to lead the business.
About Sunlight Financial
Sunlight Financial is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
Important Information for Investors
In connection with the transactions (the “Transactions”) contemplated by that certain Business Combination Agreement, dated as of January 23, 2021, by and among Sunlight Financial LLC, a Delaware limited liability company (“Sunlight”), Spartan Acquisition Corp. II, a Delaware corporation (“Spartan”), and their subsidiaries and affiliates party thereto, Spartan will file a Registration Statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”). Additionally, Spartan will periodically file other relevant materials with the SEC in connection with the Transactions. After the Registration Statement has been cleared by the SEC, a definitive proxy statement (the “Proxy Statement”) will be mailed to Spartan’s stockholders. Copies will be accessible free of charge at the SEC’s website at www.sec.gov. SECURITY HOLDERS OF SPARTAN AND SUNLIGHT ARE URGED TO READ (1) THE REGISTRATION STATEMENT, (2) THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO), (3) OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT WILL BE FILED WITH THE SEC BY SPARTAN, AND (4) ADDITIONAL PRESS RELEASES FROM SUNLIGHT AND SPARTAN FOUND ON THEIR RESPECTIVE WEBSITES, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Investor Relations
Garrett Edson, ICR
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888.315.0822
Public Relations
Doug Donsky / Brian Ruby, ICR
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DUBLIN--(BUSINESS WIRE)--The "India Gas Genset Market, By Type (Up to 75kVA, 76 kVA-350 kVA, 351kVA-750kVA, >750kVA), By End User (Industrial, Domestic, Commercial), By Region-Competition, Forecast, and Opportunities, FY2016-FY2027" report has been added to ResearchAndMarkets.com's offering.
The Indian Gas Genset Market stood at over USD246.25 million in FY2020 and is forecast to reach USD339.12 million by FY2026
Anticipated growth in the market can be attributed to growing pipeline infrastructure and increasing awareness about gas being a cleaner fuel. Moreover, the lower operating cost of gas gensets as compared to diesel gensets, along with growing construction activities, is further boosting demand for gas gensets in India. Additionally, the rising government focus on reducing harmful emissions and promoting the use of gaseous fuel is further anticipated to aid the growth of the Indian Gas Genset Market during the forecast period.
The Indian Gas Genset Market is projected to gain popularity in the coming timeframe due to the rising need for uninterruptible power supply source systems in the country. The Indian Gas Genset Market is experiencing an extensive growth due to the accelerating use of gas gensets in rural areas for parties and religious programs, as in India, rural areas attain less electricity access where gas genset plays a significant role in providing adequate electricity access during power outages.
Additionally, rising construction sector like Char Dham Expressway is expected to pave a way towards the robust demand for gas genset by proving emergence power during construction in remote areas and absence of power grid. Gas gensets are likely to be considered the best at times of emergency and is expected to spur the enormous growth of the Indian Gas Genset Market in the coming six years.
Few of the major players operating in the Indian Gas Genset Market include Clarke Energy India Private Limited, Caterpillar India Private Limited, Green Power International Pvt Ltd., GGE Genset Private Limited, Wartsila India Private Limited, Cooper Corporation Private Limited, Perfect Gas Generators, Sterling & Wilson Pvt Ltd., MTU India Private Limited, Cummins India Limited (CIL), Mahindra Powerol Limited, Prakash Diesels Private Limited, Powerline Group of Industries and Kirloskar Oil Engines Limited (KOEL).
Years considered for this report:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Gas Genset Market
5. Voice of Customer
6. India Gas Genset Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Up to 75kVA, 76 kVA-350 kVA, 351kVA-750KVA, >750kVA)
6.2.2. By End User (Industrial, Commercial, Domestic)
6.2.3. By Company
6.2.4. By Region (North; South; East; West)
6.3. Market Attractiveness Index
7. North India Gas Genset Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By End user
8. East India Gas Genset Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By End user
9. West India Gas Genset Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Product Type
9.2.2. By End user
10. South India Gas Genset Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Product Type
10.2.2. By End user
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. India Economic Profile
14. Policy & Regulatory Framework
15. Competitive Landscape
15.1. Competition Outlook
16. Company Profiles (Leading Companies)
15.3.1 Clarke Energy India Private Limited
15.3.2 Caterpillar India Private Limited
15.3.3 Green Power International Pvt Ltd
15.3.4 GGE Genset Private Limited
15.3.5 Wartsila India Private Limited
15.3.6 Yanmar
15.3.7 MTU India
15.3.8 Sterling & Wilson
15.3.9 Mahindra Powerol Limited
15.3.10 Prakash Diesels Private Limited
For more information about this report visit https://www.researchandmarkets.com/r/4dooq8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BOSTON--(BUSINESS WIRE)--4AIR has become the first private aviation stakeholder to make a trade on the International Air Transport Association’s (IATA) Aviation Carbon Exchange (ACE), a centralized platform where airlines and other aviation stakeholders can trade carbon offsets to reduce their climate impact. 4AIR has conducted its first transaction on the exchange with ClimeCo Corp., purchasing offsets from the environmental commodity products advisor on behalf of 4AIR Silver Member PrivateFly to help the charter and jet card provider meet its offsetting commitment in relation to its 2020 operations.
4AIR transacted 15,000 carbon offsets on behalf of PrivateFly in support of a solar-renewable energy project developed in India by the Adani Group. In total, the project generates enough solar energy to displace more than 1.5 million megawatt hours (MWh) of electricity in India annually, reducing the carbon impact of a country in which about 80 percent of electricity is generated through fossil fuels. The project spurs economic development, provides job opportunities and expands regional economic activity.
4AIR became the first private aviation-focused participant for the Aviation Carbon Exchange, an important step for other aviation stakeholders to participate on the exchange. 4AIR allows anyone in private aviation, from companies and individuals who own aircraft, fractional shares or jet cards to those who charter flights, to reduce their carbon footprint through its 4AIR Rating Program – the first and only rating system focused on sustainability in private aviation.
“The Aviation Carbon Exchange is a phenomenal step for increased transparency and simplicity in the process of acquiring carbon offsets,” said Kennedy Ricci, 4AIR’s president. “4AIR is uniquely positioned to aggregate private flight hours from users and operators all over the world to buy offsets on the Aviation Carbon Exchange at a larger scale. We can help the private aviation community support verified projects worldwide, making it easy for them to meet sustainability goals.”
PrivateFly has made a commitment to 4AIR Silver to be emissions neutral for 2021. This means 4AIR will offset its operations and all of PrivateFly’s 2021 flights at 300 percent of its carbon footprint to account for both their carbon dioxide and non-carbon dioxide emissions.
The Aviation Carbon Exchange was developed by IATA in partnership with Xpansiv market CBL, the leading spot exchange for ESG-inclusive commodities, including carbon offsets.
“4AIR’s framework offers four levels with progressively greater impacts, enabling participants to elevate their ambition over time,” said CBL Head of Global Carbon Markets Rene Velasquez. “This first-trade announcement is proof of broad support for decarbonization across the aviation spectrum. In addition to aviation’s effort to reduce emissions by investing in the latest aircraft technology and by improving operational fuel efficiency, the Aviation Carbon Exchange provides a clear, intuitive path to address aviation’s environmental impact.”
Added Michael Schneider, the IATA Assistant Director Aviation Environment, “Energy consumption is the biggest source of human-caused greenhouse gas emissions. By investing in carbon offset projects, the transition from fossil fuels to clean sources of energy becomes more attainable. We are pleased that 4AIR is participating in the Aviation Carbon Exchange, enabling business aviation companies from all over the world to do their part in supporting sustainability within the aviation industry.”
About 4AIR
Incubated by Directional Aviation, 4AIR is the first and only sustainability solutions program dedicated to private aviation. Its industry-first framework seeks to address climate impacts of all types and provides a simplified and verifiable path for private aviation industry participants to achieve meaningful aircraft emissions counteraction and reduction. For more information, visit us at 4air.aero.
About the IATA’s Aviation Carbon Exchange
The IATA Aviation Carbon Exchange, or ACE, is a centralized marketplace for eligible emission units under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) through which airlines and other aviation stakeholders can trade CO2 emission reductions for compliance or voluntary offsetting purposes. A secure and easy to use trading environment, ACE offers the highest transparency in terms of price and availability of emissions reductions. For more information, visit the carbon exchange website at www.iata.org/en/programs/environment/ace/.
Media:
Erin Daigle
The Hubbell Group, Inc.
Mobile: 781-815-2827
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ADNOC confirms removal of destination restrictions on Murban from June 2021
ADNOC Onshore launches monthly forward availability forecast report for Murban export volumes
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced an update on Murban Crude Oil Futures ahead of their launch on March 29, 2021, subject to regulatory approval.
As previously announced, the first Murban futures contract month at launch will be the June contract, which expires at the end of April for physical delivery in June. Today ADNOC announced that it plans to remove destination restrictions from Murban, as well as its Upper Zakum, Das and Umm Lulu crude grades, from June 2021, aligned with the first expiry of the futures contract.
To provide the market with visibility of expected Murban Export availability volumes, ADNOC Onshore has launched a monthly report with a 12-month rolling forecast of Murban export availability, which can be viewed here. By 2030, ADNOC expects Murban crude to contribute almost 50% of ADNOC’s 5 million barrels of oil per day production capacity target.
“Today’s announcement from ADNOC marks an important moment, providing significant new transparency and flexibility for Murban Crude, and which means trading and hedging Murban futures can appeal to an even broader audience of market participants around the world,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi.
Contracts traded at IFAD will be cleared at ICE Clear Europe, a leading energy clearing house, and will clear alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from associated margin offsets.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
ICE Media Contact:
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ICE Investor Contact:
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770-835-0114
GRAND JUNCTION, Colo.--(BUSINESS WIRE)--#SCADA--Iron-IQ kicks off 2021 by offering mid-market oil and gas operators a more sensible way of getting all their equipment, people, and processes connected within the cloud. Now operators don’t have to spend a small fortune in CAPEX or heavy OPEX maintenance costs to have best-in-class SCADA and workflow automation.
“After years of dealing with the hassles and high-cost of on-premise SCADA solutions, we knew current offerings were not going to allow oil and gas companies to stay competitive,” commented Iron-IQ CEO, Michael Ligrani.
Iron-IQ’s platform surpasses traditional boundaries of oil and gas SCADA systems, with powerful capabilities such as the integrated logic tool powered by NodeREDTM, machine learning, and customizable dashboards. “We taught it to play nice with others, so it’s third party friendly too,” Ligrani said. “Our SCADA system is smarter, enabling people to avoid the pain of trying to get their SCADA system to integrate with other software. Now, it’s right at their fingertips.”
Their advantages aren’t all technological. Having merged an experienced oil and gas software company with an established SCADA integration and automation company, Iron-IQ offers deep domain expertise encoded into their system. With experienced SCADA and Automation Engineers on staff, they de-risk the entire legacy migration.
“SCADA systems should be simple to use, customizable, and easy to access by anyone regardless of their company size,” Michael explained, “It shouldn’t matter if you are a family operation working a dozen wells or you’ve got a team of 100 people; everyone deserves a dependable system that transfers directly into their operations. That’s why we started the SCADA revolution with Iron-IQ.”
More and more companies are choosing to join the SCADA revolution. Migration from existing legacy systems is fast and well supported. Iron-IQ provides internal IT and OT support to make transitioning quick and painless.
To join the SCADA revolution, visit https://iron-iq.com/ or contact Iron-IQ directly using the contact information below.
Related Links
Josh Spraker
877.664.9355
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DUBLIN--(BUSINESS WIRE)--The "Oil & Gas Upstream Activities Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Major companies in the oil and gas upstream activities market include Saudi Aramco; Rosneft; Kuwait Petroleum Corporation; ADNOC and Iraq Ministry of Oil.
The global oil & gas upstream activities market is expected to grow from $2635.45 billion in 2020 to $3335.52 billion in 2021 at a compound annual growth rate (CAGR) of 26.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4243.14 billion in 2025 at a CAGR of 6%.
The oil and gas upstream activities market consists of sales of crude oil and natural gas by entities (organizations, sole traders or partnerships) that undertake the pre-refining activities of crude oil and natural gas production. The oil and gas upstream activities market is segmented into crude oil; natural gas; oil and gas wells drilling services and oil and gas supporting activities.
Asia Pacific was the largest region in the global oil & gas upstream activities market, accounting for 35% of the market in 2020. North America was the second largest region accounting for 20% of the global oil & gas upstream activities market. Africa was the smallest region in the global oil & gas upstream activities market.
Oil and Gas Wells Drilling Service providers are using seismic technology to map and interpret potential hydrocarbon reserves. 4d seismic technology is used to track the change in the physical properties of the reservoir rocks which are caused due to changes in reservoir pressure, temperature and fluid saturation.
It tracks these changes by repeating 3D seismic surveys over time-to-time to create a time-lapse or 4D seismic image. These technology works as a tool to minimize drilling risk and maximize the return on investment. For Instance, some of the major companies using this technology include Statoil, NTNU, and Chevron.
Oil and gas well drilling companies are adopting 3D visualization systems to reduce project cycle times and increase drilling accuracy. 3D visualization system generates a 3D model of a wellbore and real-time drilling data to monitor and optimize drilling process. This system facilitates automatic diagnosis of drilling problems and improves and streamlines collaboration by allowing geoscientists and drilling engineers to virtually locate, see, and test drilling sites, resulting in significant cost savings of up to20% and reduction in non-productive drilling time by 20%.
These systems are integrated with asset teams by means of software, thus facilitating precise and accurate placement of drill sites. For Instance, some of the major companies offering 3D visualization technology companies include eDrilling, Hexagon, Mechdyne and Landmark.
Oil and gas extraction companies around the world are investing heavily in digital oilfield technology to enhance oil and gas production. Digital oil fields integrate advanced software, hardware, and data analysis techniques to collect real-time data from the oilfield.
They consist of visualization, product surveillance, integrated decision making, and remote communication systems. Digital technologies in oil fields include high-performance drill bits, advanced electrical submersible pumps, and 3D seismic imaging and reservoir modelling.
Oilfields digitization facilitates efficient utilization of human resources and thus optimizes the profitability of oil production. This technology is changing the competitive landscape with a fact that an increase in production efficiency by ten percentage points can yield an impact of $220 million to $260 million on the bottom-line.
According to IHS CERA, digital oilfield implementation leads to increase in oil production by 2 to 8% and reduction in operating expense by 5 to 25%. For Instance, some of the major companies investing in digital oilfields include Noble Corp, Statoil and Apache Corp.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Oil & Gas Upstream Activities Market Characteristics
4. Oil & Gas Upstream Activities Market Product Analysis
5. Oil & Gas Upstream Activities Market Supply Chain
6. Oil & Gas Upstream Activities Market Customer Information
7. Oil & Gas Upstream Activities Market Trends And Strategies
8. Impact Of COVID-19 On Oil & Gas Upstream Activities
9. Oil & Gas Upstream Activities Market Size And Growth
10. Oil & Gas Upstream Activities Market Regional Analysis
11. Oil & Gas Upstream Activities Market Segmentation
12. Oil & Gas Upstream Activities Market Segments
13. Oil & Gas Upstream Activities Market Metrics
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/5tyc4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WASHINGTON--(BUSINESS WIRE)--The National Association of Energy Service Companies (NAESCO) is proud to support the introduction yesterday in the 117th Congress of the Open Back Better Act of 2021 by U.S. Senator Tina Smith (D-MN) and U.S. Representative Lisa Blunt Rochester (D-DE).
The Act, previously by Sen. Smith and Rep. Blunt Rochester introduced in the 116th Congress under the same name, allocates funding for States, federal agencies and Tribes to initiate at eligible facilities a range of “covered projects,” including those that advance building resiliency and public health and safety performance, as well as energy efficiency, renewable energy capacity and integration with the electric grid.
“This is a long-awaited step towards sustaining the function of our nation’s mission-critical infrastructure through this challenging period,” said NAESCO Executive Director Dr. Timothy D. Unruh. “Moreover, the Open Back Better Act will support the gains in public health, employment and infrastructural performance outcomes needed to achieve an enduring, equitable and truly sustainable national economic recovery, especially as state, local and tribal government revenue continues to be so badly affected by the pandemic.”
The Open Back Better Act of 2021, which is also included as a subtitle in the Climate Leadership and Environmental Action for our Nation’s (CLEAN) Future Act introduced this week by the House Committee on Energy and Climate leadership, would also make use of existing federal programs so as to minimize political opposition and bureaucracy while maximizing the impact of each federal dollar allocated.
“We support this bill, specifically the additional funding directed towards the AFFECT program that will add incremental funding to Energy Savings Performance Contracts (ESPCs) to achieve critical infrastructure improvements that go far beyond traditional energy and water savings alone,” said the Federal Performance Contracting Coalition (FPCC) in a statement. “And by partnering with the private sector to achieve these vital modernization upgrades, public facility managers can expect to leverage five times the amount that would be accomplished through federal funding alone. Upgrading the thousands of federal buildings, military installations and other mission critical facility infrastructure across the country will save billions of dollars in operational energy costs and create thousands of much-needed jobs.”
Reflecting upon the reintroduction of the Open Back Better Act, Rep. Lisa Blunt Rochester pointed to its coincidence with the growing consensus among her colleagues and across the Biden-Harris administration that “we must be intentional about how we rebuild from the pandemic-induced public health and economic crises,” and that the Act is intended to be a step to “build back a stronger, cleaner, healthier and safer economy – especially for communities of color and low-income.”
NAESCO is pleased to be joined in its support of the 2021 Open Back Better Act by the Federal Performance Contracting Coalition (FPCC), the Alliance to Save Energy (ASE), the National Association of State Energy Officials (NASEO) and the Insulators Union.
About NAESCO
The National Association of Energy Service Companies (NAESCO) is the leading advocacy and accreditation organization for Energy Service Companies (ESCOs) and is dedicated to modernizing America’s building infrastructure through performance contracting. Uniting the energy service industry, NAESCO promotes favorable government policies; sponsors a rigorous accreditation program; provides training and education; and champions the interests of ESCOs across the nation.
ESCOs contract with private and public sector energy users to provide cost-effective energy efficiency retrofits across a wide spectrum of client facilities, from college campuses to water treatment plants. Effectively utilizing a performance-based contract business model, ESCOs have implemented more than $50 billion in comprehensive energy efficiency retrofit projects over the last three decades.
Learn more about NAESCO, its members, membership benefits and accreditation process at www.naesco.org, and follow NAESCO on Twitter (@NaescoNews) and LinkedIn (@naesco).
Media Contact:
Bennett Artman
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DUBLIN--(BUSINESS WIRE)--The "Disruptive Global Pandemic Calls for Business Innovations in the Asia-Pacific Energy and Environment Industry, 2020" report has been added to ResearchAndMarkets.com's offering.
Coronavirus 2019 (COVID-19) has brought in new opportunities and business ideas in the midst of economic disruption. The entire value chain in energy and environment industries is affected and it is almost certain that most industry players will register a decline in growth rates in 2020. However, some immediate and mid- to long-term opportunities are present, and it is imperative that companies take ownership to thread through such trying times with the available opportunities. The need for various innovative and redefined digital platforms and new business models will be more important in the next 1 to 2 years.
Immediate impacts on the energy and environment industries are:
Some of the growth opportunities present in the energy and environment industries are IR 4.0 in Oil & Gas, whereby enormous value can be unlocked through the integration of digital technologies such as 3D printing, 3D printing, artificial intelligence (AI), drones, digital twins, and predictive analytics across the value chain. Another growth opportunity is in wind power generation, where there will be a positive outlook in wind power generation as many countries move towards offshore wind farms; this market will be led by Taiwan and China. In the microgrid segment, behind-the-meter application will come into sharp focus in the ASEAN region in 2020.
Innovative business models for this segment will help power rural areas in the region. Co-working space and flexible workspace will bring mid- to long-term business opportunities. Heightened hygiene and security practices will force operational innovation and technology adoption in this segment; Asia-Pacific is the fastest-growing region in flexible workspace management. In conclusion, most growth opportunities will bring a renewed focus on technologies that promote efficiency and operational cost reduction. With the growing need for digitalization and the increasing prominence of operational efficiency, technology OEMs have to explore new business offerings and/or expand their roles across the industry value chain in order to stay competitive and relevant to their customers.
Key Topics Covered:
1. Executive Summary
2. Scope and Segmentation
3. Key Trends-Oil & Gas
4. Key Trends-Energy
5. Key Trends-Buildings
6. Key Trends-Sustainability
7. Key Trends-Climate Change
8. Growth Opportunities and Call to Action
9. Conclusions
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/oiza2a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WASHINGTON--(BUSINESS WIRE)--Nodal Exchange announced today that it achieved record share of monthly power and environmental futures trading volume in the United States in February 2021, with 46.6% and 11.7% respectively.
“We are excited to see strong growth in the Nodal Exchange power and environmental markets and very much appreciate the trust and support of our trading and clearing community which has enabled us to achieve these record results,” said Paul Cusenza, Chairman and CEO of Nodal Exchange.
In February 2021, Nodal achieved power futures trading volume of 218.4 million MWh ($6.1 billion per side) for a record 46.6% market share. This represents Nodal Exchange’s second highest volume month ever and a growth rate of 17.7% over February 2020. Trading on Nodal was especially strong this month in PJM with a record 52.5% market share with 179.1 million MWh of monthly futures trading volume and in New York ISO with a record 63.7% market share with 18.2 million MWh of monthly futures trading volume.
Nodal Exchange also set a daily trading record this month in power futures, on February 9, with total traded volume of 56.2 million MWh. Nodal continues to build on its strong position in the North American power markets and holds the majority of US power futures open interest with over 50% market share and over one billion MWh.
Nodal Exchange's North American environmental markets posted monthly futures volume in February of 29,580 contracts traded, up 284.7% from 7,690 contracts in February 2020, with open interest hitting a record 117,280 contracts up 98.5% from a year ago. Nodal also posted a record volume day in the environmental markets on February 26th with 6,575 contracts traded.
Market share in Nodal's North American environmental futures markets rose to a record 11.7% in terms of open interest in February, up from 6.9% a year earlier. In Renewable Energy Certificates (RECs), Nodal marketshare in total futures volume and open interest was 17.6% and 16.7% respectively in February, up from 6.5% and 9.1% a year earlier.
Nodal, in collaboration with IncubEx, continues to expand its environmental offering and posted several contract milestones in February.
“These environmental records on Nodal Exchange are a part of the unprecedented tailwinds in the environmental markets, and an expanding universe of brokers and traders actively supporting these contracts," said Dan Scarbrough, President and COO of IncubEx. "Accelerating the development of exchange traded environmental contracts based on direct feedback from the marketplace is our core mission at IncubEx. We thank Nodal and all market participants for helping achieve these results.”
About Nodal
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas and environmental. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC.
Nodal Exchange Public Relations
Nicole Ricard
Phone : 703-962-9816
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COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE Solutions” or “GSE”) (Nasdaq: GVP), a leader in delivering and supporting engineering, compliance, simulation, training and workforce solutions that support decarbonization of the power industry, today announced that Kyle Loudermilk, President and Chief Executive Officer, and Emmett Pepe, Chief Financial Officer, are scheduled to participate in the Sidoti Spring 2021 Virtual Investor Conference on March 24-25, 2021. Management will be available for one-on-ones throughout both days. Below are the details for GSE’s group presentation:
Sidoti Spring 2021 Virtual Investor Conference
Date: Wednesday, March 24, 2021
Time: 1:00pm Eastern Time
Link: https://sidoti.zoom.us/webinar/register/WN_ffdrRSPoRSe-l1HV_owXzg
ABOUT GSE SOLUTIONS
We are the future of operational excellence in the power industry. As a collective group, GSE Solutions leverages top skills, expertise, and technology to provide highly specialized solutions that allow customers to achieve the performance they imagine. Our experts deliver and support end-to-end training, engineering, compliance, simulation, and workforce solutions that help the power industry reduce risk and optimize plant operations. GSE is proven, with over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. www.gses.com
Media Contact
Sunny DeMattio, GSE Solutions
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Investor Contact
Kalle Ahl, The Equity Group
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Growing natural gas company achieves project milestone for measurement data management and regulatory compliance.
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), a world leader in digital transformation for the energy industry, announced today that Utah Gas Corp, a thriving energy company that focuses on the production and development of clean-burning natural gas, has achieved its first project milestone with the deployment of FLOWCAL gas measurement software. Utah Gas Corp selected Quorum to standardize their measurement processes and ensure data integrity for the company’s expanding business. After an implementation that was on time and within budget, the company successfully completed its first monthly close cycle.
With a commitment to efficiently manage its growing assets, Utah Gas Corp continually focuses on streamlining processes and maximizing customer satisfaction. The company identified FLOWCAL as the measurement solution that could support its key initiatives.
“As we continued our growth trajectory, we realized quickly that our existing measurement solution was overextended and could no longer support our business effectively,” said Aaron Martinsen, CEO of Utah Gas Corp. “In just a few years, we have grown from 60 to 1,800 meters. FLOWCAL’s functionality will allow us to integrate new assets more quickly and accurately and save us significant dollars in future acquisition costs.”
Quorum’s measurement software provides the following benefits to Utah Gas Corp:
Eighty percent of North American midstream operators depend on FLOWCAL to ensure data integrity in hydrocarbon measurement. The trusted industry standard for 20 years, FLOWCAL continues to lead in innovation through the strength of its customer advisory board, which includes industry representation from Energy Transfer, Noble Midstream Partners, Tallgrass Energy, and other measurement leaders. Learn more about how Quorum’s oil and gas measurement software helps companies like Utah Gas Corp by visiting https://www.quorumsoftware.com/products/measurement.
About Quorum Software
Quorum Software is the world's largest provider of digital technology focused solely on business workflows that empower the next evolution of energy. From emerging companies to supermajors, throughout every region of the globe, customers rely on Quorum's proven innovation and unmatched global expertise to streamline business operations and make data-driven decisions that optimize profitability and growth. Our industry-leading solutions are transforming energy companies across the entire value chain, helping visionary leaders evolve their organizations into modern energy companies. Visit quorumsoftware.com.
About Utah Gas Corp
Utah Gas Corp focuses on the production and development of clean-burning natural gas in the Rocky Mountain region. We invest in our leases for the long term and pride ourselves on consistently going above and beyond the stringent environmental standards set by the states of Colorado and Utah and the Bureau of Land Management (BLM) for mineral lease owners. Our operations, both old and new, are planned and operated with as small a development footprint as possible. For more information, visit www.utahgascorp.com
Jenna Billings
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978-618-8424
Renewable Energy Pioneer Partners With U.S. Military To Help Achieve its Sustainability Goals
FRANKLIN, Tenn.--(BUSINESS WIRE)--#bioenergy--Enexor BioEnergy, LLC, has been awarded a contract by the U.S. Army Corps of Engineers (USACE), on behalf of the U.S. Navy, to help solve the U.S. military’s enduring need to divert organic and plastic waste away from landfills and convert into clean, on-site renewable energy.
As part of this contract, Enexor will demonstrate how it can successfully convert representative waste streams, covering all naval installations and vessels, into clean power and thermal energy. The energy will be used to power Enexor’s manufacturing facility in Franklin with the ultimate goal of then deploying Enexor’s system to U.S. Navy facilities around the world.
“We are honored to help the U.S. Navy and the Department of Defense reach their energy resiliency and organic waste diversion goals,” Enexor CEO Lee Jestings said. “Our Bio-CHP systems are modular and can easily be transported by ships, trucks and cargo planes to be rapidly deployed anywhere in the world. The systems will improve energy resiliency while improving the environment in the communities where our servicemembers live.”
Enexor manufactures an on-site, renewable energy solution to help solve the world’s organic and plastic waste problems. The company’s patented Bio-CHP system converts almost any organic, plastic or biomass waste, in any combination, into affordable, renewable power and thermal energy.
Partnering with the U.S. military is an extension of Enexor’s global rollout strategy – placing its renewable energy solutions in the geographies where they are needed most. Enclosed within a 20-foot custom shipping container, Enexor’s Bio-CHP systems are designed to be deployable next to a retail store in the United States, hurricane-exposed areas in the Caribbean or a village in Africa.
From developing countries to island nations, these locations suffer from similar issues of energy poverty and overabundance of organic and plastic waste. By diverting waste and converting it into affordable renewable energy, Enexor creates economic opportunity in the geographies it serves. Enexor’s Energy-as-a-Service business model enables immediate customer cost savings and greater environmental sustainability.
More at enexor.com.
Javier Solano, This email address is being protected from spambots. You need JavaScript enabled to view it., (615) 330-2817
DALLAS--(BUSINESS WIRE)--IOG Capital, LP (“IOG” or the “Firm”) reported today that, on March 2, 2021, IOG Resources LLC, one of its affiliated companies, closed on the acquisition of certain producing properties from affiliates of Sequel Energy Group LLC for an undisclosed amount. The assets consist of non-operated working interests in 77 producing horizontal wells operated by Southwestern Energy Company and Ascent Resources with net production of approximately 75 mmcfe/d (85% gas) as of the January 1, 2021 effective date.
Advisors
Kirkland & Ellis LLP acted as legal counsel for IOG. Sequel was advised on the sale process by RBC Richardson Barr and Welborn Sullivan Meck & Tooley acted as legal counsel.
About IOG Capital, LP
IOG Capital, LP is a Dallas, Texas-based energy investment firm that manages oil and gas assets. The Firm seeks to invest in diversified upstream oil and gas projects located onshore in the United States as a non-operated working interest partner. More information about IOG Capital can be found at www.iogcapital.com.
IOG Capital, LP
George Edwards, 214-272-2990
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A comprehensive, enterprise AI-enabled solution to generate accurate production forecasts and optimal manufacturing schedules that adapt swiftly to changing market conditions and reduce variable manufacturing costs
REDWOOD CITY, Calif. & HOUSTON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) and C3 AI (NYSE: AI) have announced the launch of BHC3™ Production Schedule Optimization (PSO), an enterprise AI application for industrial demand planning and manufacturing production scheduling. The application improves supply chain and delivery performance for highly engineered products while minimizing manufacturing costs by generating industrial customer demand predictions and optimal production schedules using a holistic view of buyer activity, supply chain materials, and manufacturing and distribution operations.
BHC3 PSO produces accurate demand forecasts for industrial and oil and gas operations as well as defined manufacturing and distribution schedules, factoring in dynamic market conditions, operational constraints, and the inherent uncertainty associated with these operations. BHC3 PSO also generates actionable insights for buyers, sellers, inventory analysts and production schedulers to make near real-time adjustments to production schedules for industrial and oil and gas operations. The application is now generally available to oil and gas and manufacturing businesses globally and is the latest addition to the growing portfolio of BHC3 artificial intelligence (AI) applications from the BakerHughesC3.ai alliance.
BHC3 PSO integrates a wide range of inputs, including feedstock availability, changing market prices, priority customer orders, increasing reworks, and unplanned downtime. With the application, users can optimize goals across manufacturing and distribution activities, including inventory minimization and throughput maximization, while considering operational constraints including storage policy, asset performance, and resource availability.
BHC3 PSO has already demonstrated success with trial customers. For example, a large hydrocarbon processing company that configured BHC3 PSO for a polypropylene plant was able to optimize production schedules and reduce manufacturing costs. After a 16-week trial, the company achieved a 20% improvement in demand forecasting accuracy by generating optimal production schedules without manual adjustment and adopting machine learning models.
“We are committed to leading and advancing the digital transformation of energy operations globally. This application is the latest in a series of new AI solutions we have launched in recent months that allow customers to achieve significant cost reductions, new levels of productivity, and organizational alignment for highly engineered products and industrial plants,” said Ed Abbo, C3 AI president and CTO. “BHC3 Production Schedule Optimization supports discrete, batch, semi-batch, and continuous manufacturing processes in network and multi-stage environments, delivering cost and productivity benefits across midstream and downstream oil, gas, and chemicals operations."
“Enterprise AI has the ability to create value and deliver results for manufacturing across the energy value chain,” said Uwem Ukpong, executive vice president of regions, alliances & enterprise sales at Baker Hughes. “Optimization of the supply chain and reduction of production costs are especially relevant today for energy and industrial businesses. BHC3 Production Schedule Optimization combines the manufacturing and technology expertise of Baker Hughes with C3 AI’s leading technology to help operators better forecast materials production to serve customers.”
For more information about BHC3 product offerings, please visit BakerHughesC3.ai.
About C3.ai, Inc.
C3.ai, Inc. (NYSE:AI) is a leading provider of Enterprise AI software for accelerating digital transformation. C3 AI delivers a family of fully integrated products: C3 AI® Suite, an end-to-end platform for developing, deploying, and operating large-scale AI applications; C3 AI Applications, a portfolio of industry-specific SaaS AI applications; C3 AI CRM, a suite of industry-specific CRM applications designed for AI and machine learning; and C3 AI Ex Machina, a no-code AI solution to apply data science to everyday business problems. The core of the C3 AI offering is an open, model-driven AI architecture that dramatically simplifies data science and application development. Learn more at: www.c3.ai
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
C3.ai Public Relations
Edelman
Lisa Kennedy
415-914-8336
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Media Relations
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Investor Relations
Jud Bailey
+1 281-809-9088
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Black & Veatch program management team guiding retrofit of plant aiming to be powered by carbon-free hydrogen within a decade
OVERLAND PARK, Kan.--(BUSINESS WIRE)--With global energy solutions leader Black & Veatch as program manager, Ohio’s Long Ridge Energy Generation is retrofitting its 485-megawatt (MW) combined-cycle power plant to run on a blend of natural gas and carbon-free hydrogen, making it the nation’s first large gas turbine plant to transition operations to hydrogen fuel.
Long Ridge is working to reconfigure the plant to use a mix of natural gas and hydrogen – a rising star in power generation – after it begins commercial operations in August 2021. As the first worldwide plant to blend hydrogen in a General Electric H-class gas turbine, the Hannibal, Ohio-based site initially will burn 5 percent hydrogen by volume in the natural gas stream. The program is outlining the changes necessary to transition entirely to using 100 percent green hydrogen – produced by electrolysis that separates water into its oxygen and hydrogen elements – over the next decade.
With a goal of carbon-free baseload power production, Black & Veatch is providing expertise in the development of the plant’s hydrogen integration strategy to ensure safe, reliable industrial practices for the site. The plant also will serve as a key component of a low-carbon industrial complex that will sell power to on-site tenants and third parties seeking to decarbonize and balance their power resources.
Bo Wholey, president Long Ridge Energy, offers the perspective his team has brought to their hydrogen strategy: "As the number of companies with carbon-free energy goals continues to grow, we decided to make Long Ridge the first in the U.S. to burn hydrogen in a large gas turbine. We want to accelerate the transition to hydrogen as quickly as possible."
The project reflects Long Ridge’s long-term commitment to providing clean energy against a backdrop of growing demands by industry stakeholders for decarbonized power. The Long Ridge site is ideally situated along the Ohio River with industrial byproduct hydrogen readily available in the Ohio River valley. Its location at a port facility allows a quick-to-market solution while underground salt deposit geology can provide carbon or hydrogen storage. The river also provides an ample resource for production of green hydrogen.
“Balanced energy portfolios that maximize the use of next-generation, emissions-free fuel sources such as hydrogen will be critical to managing the energy transition and `repowering the power industry,’” said Mario Azar, president of Black & Veatch’s power business. “The first-of-a-kind Long Ridge project represents a significant step for the U.S. power industry and reflects the growing place for hydrogen as an important pillar of the global decarbonization effort.”
Once completed, the Long Ridge Energy Generation Project will be among the world’s lowest emission baseload power plants of any type while being compact, low-impact and significantly more advanced than earlier generations of natural gas plants.
As part of the project, Long Ridge has partnered with energy infrastructure company New Fortress Energy’s new Zero division, which is focused on investing in and deploying advancing hydrogen production technologies to reach zero-emission targets.
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
About Long Ridge Energy Terminal
The Long Ridge Energy Terminal is the Appalachian Basin’s leading multi-modal energy terminal, with a 485-MW Long Ridge Energy Generation Plant under construction, nearly 300 acres of flat land, two barge docks on the Ohio River, a unit-train-capable loop track and direct access to Ohio Route 7. Long Ridge is owned by a subsidiary of Fortress Transportation and Infrastructure Investors LLC and an affiliate managed by GCM Grosvenor. For more information about Long Ridge, please visit www.longridgeenergy.com.
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