Membership in US-based coalition is latest step in company efforts to achieve carbon emission reduction
VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE:UGI) announced today that its Natural Gas Businesses group, made up of affiliates UGI Utilities, Inc. and UGI Energy Services LLC, joined the coalition Our Nation’s Energy Future (ONE Future). The UGI membership brings the number of companies participating in ONE Future to 34.
ONE Future was formed in 2014 by natural gas production, transmission and distribution companies with a focus to collectively achieve reductions in the average rate of methane emissions across member facilities equivalent to one percent (or less) of total natural gas production.
“Our membership in ONE Future is another step toward achieving UGI’s ambitious greenhouse gas emission reduction targets,” said Robert F. Beard, UGI Executive Vice President – Natural Gas Businesses. “For over 135 years, UGI has focused on providing safe, reliable service to its customers and to the many communities it serves. We are committed to continued growth in an environmentally responsible manner and believe natural gas plays an important role in a cleaner future,” Beard concluded.
“We remain committed to growing our business responsibly, while meeting the social needs of our customers, employees, and communities,” said John L. Walsh, President and Chief Executive Officer of UGI Corporation. “UGI is proud of the work we’ve accomplished on our many ESG initiatives. We look forward to continuing to enhance and expand our initiatives aimed at lowering methane and greenhouse gas (“GHG”) emissions, enhancing system integrity and improving safety.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing in eleven states, the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
Investor Relations
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil and PETRONAS have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname, adding to ExxonMobil’s extensive finds in the Guyana-Suriname basin. The well was drilled by operator PETRONAS, and the discovery is being evaluated to determine its resource potential.
“Our first discovery in Suriname extends ExxonMobil’s leading position in South America, building on our successful investments in Guyana,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We will continue to leverage our deepwater expertise and advanced technology to explore frontier environments with the highest value resource potential.”
ExxonMobil said in November that it is prioritizing near-term capital spending on advantaged assets with the highest potential future value. The Suriname discovery further strengthens ExxonMobil’s industry-leading portfolio along with its other recent exploration success in the same basin in Guyana.
PETRONAS drilled the well to a total depth of approximately 15,682 feet (4,780 meters) using the Maersk Developer rig.
Block 52 covers an area of 1.2 million acres (4,749 square kilometers) and is located approximately 75 miles offshore north of Suriname’s capital city, Paramaribo. The water depths on Block 52 range from 160 to 3,600 feet (50 to 1,100 meters).
ExxonMobil Exploration and Production Suriname B.V., an affiliate of ExxonMobil, holds 50 percent interest in Block 52. PETRONAS Suriname E&P B.V., a subsidiary of PETRONAS, is operator and holds 50 percent interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; restrictions in trade, travel or broader government responses to first or subsequent waves of COVID-19; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K and quarterly reports on Form 10-Q.
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Applications Available Now; Deadline is Feb. 12, 2021
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) announced today that scholarship applications are now being accepted for college-bound high schoolers as well as current college and continuing education students with a primary residence that’s a PG&E customer in Northern and Central California.
More than 120 awards totaling nearly $300,000 are being made available through PG&E’s employee resource group (ERG) and engineering network group (ENG) scholarships.
These scholarships are awarded annually to help offset the cost of higher education. ERG and ENG scholarship winners will receive awards ranging from $1,000 to $6,000 for exemplary scholastic achievement and community leadership.
PG&E ERG and ENG scholarship information, including criteria and applications, is available on PG&E’s website. To be considered for a scholarship, all applications must be submitted by Feb. 12, 2021.
“Many of our ERG scholarship recipients are the first in their families to attend college. They will be tomorrow’s leaders and innovators. Our ERG scholarships take on even more importance this year because some of our applicants could’ve experienced financial challenges due to COVID-19. We’re proud to invest in these promising young people,” said Mary King, PG&E vice president of human resources and chief diversity officer.
“It’s more than just funds for tuition. Many of our applicants are looking to ensure their families wouldn’t have to make significant financial sacrifices so they could pursue college. These students are more than just straight A’s and perfect test scores. They’re inspiring members of our community destined to accomplish great things,” said Alyssa Piring, a PG&E gas program manager who previously received an ERG scholarship.
Since 1989, PG&E’s ERGs and ENGs have awarded more than $5 million in scholarships to thousands of recipients. The funds are raised totally through employee donations, employee fundraising events and Campaign for the Community, the company’s employee giving program.
Nearly 6,000 PG&E employees belong to the ERGs and ENGs. Each group helps further the company’s commitment to serving its communities and growing employee engagement.
PG&E’s ERG and ENG scholarships are available through these 13 groups:
In addition to the PG&E scholarships, the Pacific Service Employees Association (PSEA), a non-profit mutual benefit organization serving PG&E employees and retirees, also provides scholarships for dependents of company employees.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/news.
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#RNG--Fortistar, a privately-owned investment firm that acquires, manages and grows companies and projects that address global environmental challenges, and the New River Solid Waste Association (NRSWA) in Raiford, Florida, announced the construction of a facility that will capture and convert approximately 1,900 dekatherms per day of landfill methane to renewable natural gas (RNG), which is enough to offset emissions from 7,500 passenger cars.
“As an investment firm that’s focused on implementing more decarbonization solutions across the country, funding and supporting this renewable energy project in Florida was an easy decision,” said Mark Comora, President of Fortistar. “Creating fuel for transportation is a solution available today to significantly decrease human-related greenhouse gas emissions. NRSWA maintains an excellent reputation in waste management in Florida and we’re looking forward to working with them to capture greenhouse gases, displace diesel trucks and produce cleaner fuel for a more sustainable future.”
The project, formally known as the New River RNG Project, will collect naturally occurring methane from the NRSWA municipal solid waste landfill, convert it to RNG and use it to fuel natural gas vehicles via TruStar Energy, a Fortistar portfolio company. At full output, the New River facility will extract 2,500 standard cubic feet per minute of landfill gas and produce 5.1 million gas gallon equivalents (GGE) of RNG per year. The overall project reduces emissions by 35,000 tons of CO2e per year. SCS Engineers, a California-based environmental consulting and construction firm, will build the facility under an engineering, procure and construction (EPC) contract, which will create approximately 35 to 40 construction jobs.
Perry Kent, Executive Director, New River Solid Waste Association said, “NRSWA is excited about partnering with Fortistar on this important and industry leading project. This will be the first project to convert gas from a municipal solid waste landfill to RNG in Florida and we are happy we are able to lead the way. New River has always worked to manage solid waste in a sustainable way and this project is one more step toward New River becoming a fully sustainable solid waste treatment facility.”
According to the U.S. Environmental Protection Agency (EPA), landfill gas presents a major opportunity to capture and use a significant and often-wasted energy resource. Landfill gas, which is roughly 50 percent methane, is a natural byproduct of the decomposition of organic material in landfills. Methane is a potent greenhouse gas (GHG) that traps 28 to 36 times more heat in the atmosphere than carbon dioxide over a 100-year period. The EPA also notes that municipal solid waste landfills are the third-largest source of human-related methane emissions in the U.S., accounting for 15.1 percent of these emissions in 2018. EPA data also highlights the transportation sector as one of the largest contributors to U.S. GHG emissions accounting for 28 percent in 2018.
This New River Landfill RNG Project advances an aggressive renewable fuels growth strategy at Fortistar aimed at helping businesses and public agencies dramatically reduce GHG emissions with a cost-effective and proven solution today. The project is the fifth of 12 new Fortistar RNG projects requiring nearly $500 million of new capital investment, which are all expected to enter construction over the next year. When completed, these new projects will help produce 120 million GGE of RNG and reduce U.S. transportation emissions by 2 million metric tons of CO2 annually, which is the equivalent of taking approximately 434,782 passenger cars off the road.
The New River RNG project includes the construction of a new facility that will utilize advanced, patented technology to treat landfill gas by removing carbon dioxide and other components to purify the gas and produce pipeline quality RNG. The process includes proprietary membranes provided by Air Liquide, a multinational leading company in gases, technologies and services for industry and health. The new facility will also involve a Vilter Single Screw Gas Compressor, which delivers longer life, higher reliability and better energy efficiency.
About Fortistar
Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing companies, first in power generation and now in mobility, carbon capture, the circular economy and other solutions that drive our transition to a zero-carbon future. As a team, Fortistar has financed over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.Fortistar.com and follow the company on LinkedIn.
Media Contact:
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DUBLIN--(BUSINESS WIRE)--The "Solar Generators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 9th edition of this report. The 301-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Solar Generators Market to Reach $563 Million by 2027
Amid the COVID-19 crisis, the global market for Solar Generators estimated at US$404.1 Million in the year 2020, is projected to reach a revised size of US$563 Million by 2027, growing at a CAGR of 4.9% over the period 2020-2027.
Off-Grid, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$323.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the On-Grid segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $109.6 Million, While China is Forecast to Grow at 7.5% CAGR
The Solar Generators market in the U.S. is estimated at US$109.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$114.4 Million by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/v18juf
ResearchAndMarkets.com
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DUBLIN--(BUSINESS WIRE)--The "Inert Gas Generator Systems (IGGS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 9th edition of this report. The 280-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Inert Gas Generator Systems (IGGS) Market to Reach $3.5 Billion by 2027
Amid the COVID-19 crisis, the global market for Inert Gas Generator Systems (IGGS), estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$3.5 Billion by 2027, growing at a CAGR of 17.9% over the analysis period 2020-2027.
Industrial IGGS component, one of the segments analyzed in the report, is projected to record a 17.9% CAGR and reach US$2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aviation IGGS Component segment is readjusted to a revised 19.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $298.8 Million, While China is Forecast to Grow at 22.6% CAGR
The Inert Gas Generator Systems (IGGS) market in the U.S. is estimated at US$298.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$805.4 Million by the year 2027 trailing a CAGR of 22.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.9% and 16.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR.
Marine IGGS Component Segment to Record 15% CAGR
In the global Marine IGGS Component segment, USA, Canada, Japan, China and Europe will drive the 14.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$146.1 Million in the year 2020 will reach a projected size of US$375.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$508.8 Million by the year 2027, while Latin America will expand at a 16.3% CAGR through the analysis period.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/9vt3bs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Jet Fuel Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 - 2025.
Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. Additionally, falling travel costs have been adding to the airline market growth over the past several years. Therefore, aircraft are being flown more intensively to meet the increasing demand.
Factors, such as increasing air passenger traffic, increasing number of low-cost carriers (LCC) across the world, and increasing demand for air cargo transportation, are expected to drive the jet fuel market in the coming years.
However, increasing penetration of sustainable aviation fuels (SAF), strict emission regulations and a positive trend in the piston engine aircraft deliveries is expected to increase the demand for aviation gasoline (AVGAS) are expected to have a slight impact on the jet fuel market in the coming years.
Commercial application accounts for the largest share in the jet fuel market, owing to the increasing number of air passengers and aircraft fleet across the world.
Increasing concerns over emissions from the airline industry and initiatives by the governments in developed economies to reduce airline emissions are expected to provide significant opportunities for renewable jet fuel in the future.
Asia-Pacific dominated the market across the world as the region witnessed increasing passenger traffic, especially from the emerging economies.
Key Market Trends
Increasing Air Passenger Traffic across the World
The commercial segment accounts for the largest share in the jet fuel market. In 2018, around 4.3 billion passengers were carried by air transport on scheduled services, representing an increase of 6.9% over the previous year. The number of departures rose to approximately 38 million globally, and world passenger traffic, expressed in terms of total scheduled revenue passenger-kilometers (RPKs), grew solidly at 6.7% and reached approximately 8.2 trillion RPKs performed in 2018.
Asia-Pacific to Dominate the Market
In terms of the domestic market, Asia-Pacific, one of the world's largest domestic market with 42% of traffic share in 2018, continued to grow double-digitally at 10.4%, contributed by the strong demand in India and China, owing to their increasing GDP per capita and growing domestic air connectivity.
Competitive Landscape
The jet fuel market is consolidated. Some of the major companies include BP PLC, Exxon Mobil Corporation, Royal Dutch Shell PLC, and Total SA.
Key Topics Covered:
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Government Policies and Regulations
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Jet A and Jet A1
5.1.2 Jet B
5.2 Application
5.2.1 Commercial
5.2.2 Defense
5.2.3 General Aviation
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Exxon Mobil Corporation
6.3.2 Qatar Jet Fuel Company
6.3.3 Bharat Petroleum Corp. Ltd
6.3.4 BP PLC
6.3.5 Chevron Corporation
6.3.6 Royal Dutch Shell PLC
6.3.7 Total SA
6.3.8 Allied Aviation Services Inc.
6.3.9 Valero Marketing and Supply
6.3.10 Gazprom Neft PJSC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/yowuy2
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Smart Gas Meters - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Smart Gas is projected to reach US$29.9 billion by 2025, driven by the growing need for efficient utilization of energy and rising awareness over the importance of information management technologies in enabling intelligent metering, monitoring, measurement, and control of gas resources.
Also driving growth in the market are factors such as growing global gas demand from 3,000 Mtoe in 2015 to 4,100 Mtoe by 2035 and the ensuing need for efficient distribution networks and billing system; spiraling shale gas production with technology developments promising to tap into the over 5,770 trillion cubic feet of technically recoverable shale gas reserves worldwide; robust demand for modular & integrated gas meters; increasing adoption of SCADA; increasing integration of cloud computing, IoT & artificial intelligence in advanced metering infrastructure (AMI); and rise of smart cities to over 170 cities from 85 countries and growing investments in smart distribution of utility resources such as electricity, water and gas. Utility services, interestingly is the starting point for all smart city initiatives given the fact that smarter infrastructure provision is the goal of the smart city concept.
Water, electricity and gas are the most important utility infrastructures owned by municipalities. Alongside smart grids, connected gas infrastructure is also a key focus area for governments worldwide. Smart gas technologies ensure uninterrupted gas distribution, pressure measurements, pipe corrosion protection, leak detection, remote disconnection, and smarter use and consumption. Installation of smart gas meters is just the starting point for utilities seeking to optimize the entire process by developing effective communication networks replete with sensors and big data analytics.
The scenario is driving increased investments in national smart meter programs, spatial management of transmission pipeline networks; on-site automation systems; use of intelligent metering software and cloud computing for gas leakage and outflow detection and identification of safety issues.
Few of the benefits of smart gas solutions driving investments in transformation of gas networks include operational cost benefits that accompany automation; better energy planning as it offers real-time data on energy costs and related carbon emissions; provides opportunity for voluntarily reducing household gas consumption; enables implementation of multi tariff features to allow for better demand response management; improved profitability for utilities as it reduces the 'costs to serve'; and helps governments battle climate change and achieve slated goals of energy directives.
Smart gas solutions, in AMI or AMR metering formats, establish a system-wide communications network, thereby encompassing all the service points on the gas utility grid and seamlessly connect with DNP, IEC 61850, and TCP/IP devices across the grid besides allowing the IEEE 802.15.4g connectivity over the AMI mesh. With such sophisticated attributes, smart meters equip utilities with a robust tool that can help them in realizing innovative functionalities when integrated into the conventional distribution automation infrastructure. Integration of smart gas meters enabled AMI with distribution automation potentially offers unprecedented, previously unexplored opportunities for the modernization of power grids.
Such new opportunities include efficient outage management, economical fault isolation, superior transformer and feeder monitoring, and electric vehicle integration among others. Europe represents the largest market worldwide, supported by favorable regulations and funding support that encourage adoption of smart gas solutions across the entire natural gas chain comprising mining, storage, transmission, distribution and final consumption. Asia-Pacific including China ranks is a major market led by stringent energy efficiency regulations given the fact that developing countries utilize more resources partially due to energy wastages and mismanagement.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/3ifjr0
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Already recognized as the world leader in robotic solutions for the solar industry, Ecoppia shows a strong pattern of success in India with another large scaled project
HERZELIYA, Israel--(BUSINESS WIRE)--#Solar--Ecoppia (TASE: ECPA), the pioneer and world leader in robotic solutions for photovoltaic solar, announced today yet another significant project of 450MW signed in October with Azure Power, the renowned solar energy player. The project is now reaching advanced stages, scheduled to go live on the beginning of Q1 2021.
Despite the ongoing global pandemic, Ecoppia secured new projects for more than 10GW in the last four quarters, maintaining a compound annual growth rate (CAGR) of more than 280% in the last six years.
Without any physical presence, Ecoppia enabled its clients across the globe to keep an optimal production while avoiding soiling losses and potential damage, delivering operation continuity even during complete lockdown. Covid-19 made it even clearer that full automation and advanced technologies are crucial in maintaining an optimal solar production.
Over the last 7 years, Ecoppia has been one of the vital pillars of the solar revolution, leading the shift in the way large-scale solar sites are managed and operated, as a key for reducing LCOE.
This significant deployment is yet another vote of confidence in Ecoppia by Azure Power, as Ecoppia deepens its compelling market share in India while expanding its global reach with projects in North and Latin America as well as the Middle East.
Azure Power is part of a long list of leading Energy players, realizing the need of an automated operations and management (O&M). While tariffs become lower, the solar industry understand just how crucial efficient O&M can be to remain profitable.
With a growing project pipeline, Azure Power needed a robust solution that can cope with the mass while maintaining an optimal performance, creating a clean-green energy production.
“We are thrilled to be working with such a company that sets high targets both in terms of volume and quality,” said Jean Scemama, CEO of Ecoppia. “We see this long-term partnership as one of the growing signs that the solar industry is revolutionizing towards automated O&M. Ecoppia takes great pride in being at the forefront of this revolution, supporting the green recovery of the post COVID-19 era” he concluded.
About Azure
Azure Power (NYSE: AZRE) is a leading independent solar power producer with a pan-India portfolio of 7.1 gigawatts on June 30, 2020 of which 1.8 GWs is operational, 1.3 GWs are under construction and 4.0 GWs have received a Letter of Award but for which PPAs have yet to be signed. Azure Power developed India's first private utility scale solar project in 2009 and has been at the forefront in the sector as a developer and operator of solar projects since its inception in 2008. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power manages the entire development and operation process, providing low-cost solar power solutions to customers throughout India. For more information, visit: www.azurepower.com .
About Ecoppia
With over 16GW of signed agreements, Ecoppia (TASE: ECPA) is a pioneer and world leader in robotic solutions for photovoltaic solar. Ecoppia’s cloud-based, water-free, autonomous robotic systems remove dust from solar panels on a daily basis leveraging sophisticated technology and advanced Business Intelligence capabilities. Remotely managed and controlled, the Ecoppia platform allows solar sites to maintain peak performance with minimal costs and human intervention. Ecoppia’s proprietary algorithms and robotic solutions make day-to-day O&M at solar sites safer, more efficient and more reliable. Publicly held and backed by prominent international investment funds, Ecoppia works with the largest energy companies across the globe, cleaning millions of solar panels every day. For more information, please visit www.ecoppia.com
Anat Cohen Segev
VP Marketing, Ecoppia
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DUBLIN--(BUSINESS WIRE)--The "Gas Generators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 6th edition of this report. The 174-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Gas Generators Market to Reach $10.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Gas Generators estimated at US$6.7 Billion in the year 2020, is projected to reach a revised size of US$10.6 Billion by 2027, growing at a CAGR of 6.7% over the analysis period 2020-2027.
Industrial, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$4.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 6.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 10.2% CAGR
The Gas Generators market in the U.S. is estimated at US$1.8 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2027 trailing a CAGR of 10.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Residential Segment to Record 7% CAGR
In the global Residential segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2027, while Latin America will expand at a 8.3% CAGR through the analysis period.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/g96mwk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation, (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock.
The dividend is payable on January 8, 2021, to shareholders of record as of the close of business on December 24, 2020.
While Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this $0.20 per share rate or otherwise, will be reviewed individually and declared by the Board at its discretion.
Safe Harbor Statement:
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
DUBLIN--(BUSINESS WIRE)--The "North Sea Offshore Decommissioning Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The North Sea offshore decommissioning market is expected to register a CAGR of over 5% during the forecast period of 2020 - 2025.
Factors, such as aging offshore infrastructure in the oil and gas industry, rising offshore oil and gas production activities, and increasing oil and gas demand, are expected to be major drivers driving the market. However, the volatile nature of oil prices in recent years led to decreased capital expenditure in the upstream oil and gas industry, causing a slowdown for the market studied.
The shallow water sector is expected to maintain an edge in the decommissioning services market in the forecast period, owing to factors, like aging shallow water infrastructure.
The market is expected to see a significant increase see in the forecast period, as it was one of the earliest offshore regions to be explored and developed. The infrastructure installed 30-40 years ago at the peak of exploration in the region, are now being abandoned and decommissioned, which is expected to great a huge opportunity for the decommissioning market in the region.
The United Kingdom is expected to dominate the market growth, owing to factors, like aging offshore infrastructure, declining production from mature oilfields, and stringent environmental policies.
Key Market Trends
Shallow Water to Dominate the Market
The shallow water segment is expected to maintain its dominance in the forecast period, owing to factors, like low operational cost and recovering oil prices in the oil and gas market.
United Kingdom to Dominate the Market
The United Kingdom is expected to dominate the market in the forecast period due to the region being one of the first markets to use offshore oil and gas infrastructure, most of which are at decommissioning age in recent years and forecast period.
Competitive Landscape
The North Sea offshore decommissioning market is consolidated. Some of the major companies operating in the market being studied are Aker Solutions, AF Gruppen SA, John Wood Group PLC, and Able UK.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 North Sea Offshore Active Rig Count, till 2019
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Water Depth
5.1.1 Shallow Water
5.1.2 Deepwater and Ultra-deepwater
5.2 Geography
5.2.1 United Kingdom
5.2.2 Norway
5.2.3 Rest of North Sea
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Able UK
6.3.2 Aker Solutions ASA
6.3.3 AF Gruppen SA
6.3.4 John Wood Group PLC
6.3.5 DNV GL
6.3.6 Heerema Marine Contractors (HMC)
6.3.7 Allseas Group
6.3.8 TechnipFMC PLC
6.3.9 DeepOcean Group Holding BV
6.3.10 Equinor ASA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ihwc2g.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LEAWOOD, KS--(BUSINESS WIRE)--TortoiseEcofin today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the fourth quarter of 2020. Following the close of trading on December 18, 2020, the indices will be rebalanced and as a result, the following changes will become effective.
Tortoise MLP Index® (TMLP/TMLPT) |
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Action |
Company |
Ticker |
Deletion |
GasLog Partners LP |
GLOP |
The full constituent list for TMLP can be viewed at https://tortoiseecofin.com/media/1528/tmlp-constituent-overview-91820.pdf
Ecofin Global Water ESG Index SM (EGWESG/EGWESGT) |
||
Action |
Company |
Ticker |
Addition |
Guangdong Investment Ltd |
270 HK |
The full constituent list can be viewed at https://tortoiseecofin.com/media/1260/egwesg-constituent-overview-91820.pdf
Ecofin Global Digital Payments Infrastructure IndexSM (TPMT/TPAYMENT) |
||
Action |
Company |
Ticker |
Addition |
Mitek Systems Inc |
MITK |
Addition |
Nuvei Corp |
NVEI CN |
Addition |
Sezzle Inc |
SZL AU |
Addition |
Splitit Ltd |
SPT AU |
The full constituent list can be viewed at https://tortoiseecofin.com/media/1539/tpmt-constituent-overview-91820.pdf
There were no fourth quarter rebalancing updates to report for the Tortoise North American Pipeline IndexSM (TNAP).
The full constituent list for TNAP can be viewed at https://tortoiseecofin.com/media/1530/tnap-constituent-overview-91820.pdf
About TortoiseEcofin
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.
The Tortoise MLP Index® is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.
The Tortoise North American Pipeline IndexSM is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
The Ecofin Global Water ESG Total Return IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.
The indices mentioned above are the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM,and Ecofin Global Water ESG IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
The Ecofin Global Digital Payments Infrastructure IndexSM represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/ services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services market places.
This index mentioned above is the exclusive property of TIS Advisors and is calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Maggie Zastrow
(913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it.
MINNEAPOLIS--(BUSINESS WIRE)--#DataExposureReport--Code42, the insider risk detection and response leader, today released its latest Data Exposure Report on Insider Risk. The study, conducted by Ponemon Institute, found that both business and security leaders are allowing massive Insider Risk problems to fester in the aftermath of the significant shift to remote work in the past year. During that same time, three-quarters (76%) of IT security leaders said that their organizations have experienced one or more data breaches involving the loss of sensitive files and 59% said insider threat will increase in the next two years primarily due to users having access to files they shouldn’t, employees’ preference to work the way they want regardless of security protocols and the continuation of remote work. Despite these forces, more than half (54%) still don’t have a plan to respond to Insider Risks.
“Insider Risk affects every organization. It is a byproduct of employees getting their work done everyday – how they create, access and share files in today’s collaboration culture. However, security teams are at a disadvantage: there is a lack of understanding of Insider Risk, which is leading to complacency, failing technologies and inadequate processes. The severity of the Insider Risk problem is being consistently overlooked, evidenced by the sharp rise in risky behavior this year,” said Joe Payne, Code42’s president and CEO. “Our findings show that organizations are not even measuring the efficacy of their Insider Risk mitigation programs. Inattention to Insider Risk Management, as demonstrated in this report, will threaten the future of the digital enterprise.”
COVID-19 exacerbated an already growing threat
Prior to the pandemic, cloud-based collaboration technologies and workforce turnover had become major drivers of data exfiltration as insider threat programs were failing to keep pace with today’s digital workplace. Insider Risk is not a new threat vector, but with our new work-from-home normal and rising employee burnout rates, employees are 85% more likely to leak sensitive files now, than before COVID. And the leaking of sensitive files isn’t just theoretical – since COVID-19, 61% of IT security leaders said their remote workforce was the cause of a data breach.
Additionally, the study found:
Organizations face challenges on all fronts when dealing with Insider Risk
Today IT security leaders say it takes an average of 118 days to identify a data breach and 55 days to contain one – a nearly six month process. Why is that? Less than half of organizations (46%) have an insider risk response plan (IRRP). Of those with an IRRP, 71% apply it inconsistently or on an ad hoc basis. In addition to insufficient response planning, the majority of security tools for insider risk are not adapted to the way we work. Seventy-one percent (71%) of IT security leaders lack complete visibility to sensitive data movement.
The study also found:
With Insider Risks predicted to increase, security teams need to mature their capabilities – and DLP is not the answer
Productivity demands are requiring the use of tools that enable speed and collaboration across organizations, but security teams are largely limited in their ability to monitor those tools for risky behavior due to an over-reliance on traditional, blocking technologies. Security teams are missing the right context for the problem, and instead continue to deploy technologies that block file sharing, inevitably impacting productivity both for employees and security teams. At the same time that trends around remote work are expected to continue, budget for insider risk programs remains a concern.
The study found:
Download the Report: For more details, download a free copy of the 2021 Data Exposure Report here.
Methodology: The research for this report was conducted by Ponemon Institute. The survey was completed by 623 IT security leaders and 586 business decision makers from the U.S. All respondents were familiar with their organizations’ approach to securing sensitive information.
Additional Resources
About Code42
Code42 is the leader in insider risk detection and response. Native to the cloud, Code42 rapidly detects data loss, leak, theft and sabotage as well as speeds incident response – all without lengthy deployments, complex policy management or blocking employee productivity. With Code42, security professionals can protect corporate data and reduce insider risk while fostering an open and collaborative culture for employees. Backed by security best practices and control requirements, Code42’s insider risk solution can be configured for GDPR, HIPAA, PCI and other regulatory frameworks.
More than 50,000 organizations worldwide, including the most recognized brands in business and education, rely on Code42 to safeguard their ideas. Founded in 2001, the company is headquartered in Minneapolis, Minnesota, and backed by Accel Partners, JMI Equity and Split Rock Partners. Code42 was recognized by Inc. magazine as one of America’s best workplaces in 2020. For more information, visit code42.com.
© 2020 Code42 Software, Inc. All rights reserved. Code42, the Code42 logo and Incydr are registered trademarks or trademarks of Code42 Software, Inc. in the United States and/or other countries. All other marks are properties of their respective owners.
Kristin McKenzie
Public Relations Principal, Code42
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844-333-4242
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company” or “Northern”) today reported that Bahram Akradi, the Non-Executive Chairman of Northern’s Board of Directors, has sold 260,000 shares of Northern common stock. The sale has also been disclosed on a Form 4 filing made with the Securities and Exchange Commission.
Mr. Akradi advised the Company that his decision to sell was required for tax purposes and generated almost $10 million in tax loss, and that he does not currently anticipate additional sales. The shares sold represent just 0.6% of Northern’s outstanding common stock and only 13% of Mr. Akradi’s beneficial holdings in Northern.
“I remain a committed long-term investor in Northern, and I remain confident in our differentiated and advantageous business model,” commented Mr. Akradi. “While these sales were necessary for me personally, I have the utmost faith in our multi-year plan to create value and the continued growth of our free cash flow focused business.”
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
Mike Kelly, CFA
EVP Finance
952-476-9800
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Total Debt Raise Includes US$710 Million Bond Offering and US$1.05 Billion Bank Debt Package
NEW YORK--(BUSINESS WIRE)--EnfraGen Energía Sur, S.A.U., Prime Energía SpA, and EnfraGen Spain, S.A.U., (the “Issuers”) announced today that they will issue US$710 million 5.375% senior secured notes (the "Notes") on December 17, 2020 pursuant to a Rule 144A/Regulation S transaction. The Notes mature in 2030 and pay an interest rate of 5.375%. The Issuers are indirect subsidiaries of EnfraGen, LLC (“EnfraGen”), a developer, owner, and operator of grid stability and renewable energy infrastructure businesses in Latin America. The primary use of proceeds from the Notes, combined with a pari passu US$1.05 billion bank debt package for a total of US$1.76 Billion, will be to refinance EnfraGen's existing debt portfolio and to fund EnfraGen's additional growth.
Disclaimer: This is not an offer of securities for sale in the United States. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About EnfraGen, LLC
EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin American investment-grade countries. EnfraGen’s grid stability assets supply flexible capacity and energy to local and regional grids in support of renewable power plant intermittent energy production. EnfraGen’s renewable plants are smaller scale, distributed solar photovoltaic and hydroelectric assets that take advantage of unique access points to electrical infrastructure or are located in optimized geographical locations. The business’ mission is to support the transition to zero-carbon emission electric grids.
EnfraGen is jointly controlled by Glenfarne Group, LLC and global private markets investment manager Partners Group, on behalf of its clients, and has operational and in-construction assets across its subsidiaries totaling over 1.4 GW of installed capacity. The company, including its affiliates and subsidiaries, is supported by a team of approximately 275 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.
About Glenfarne Group
Glenfarne is a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas with offices in Panama City, Panama; Santiago, Chile and Bogota, Colombia. Glenfarne's seasoned executives, asset managers and operators develop, acquire, manage and operate energy and infrastructure assets throughout North and South America and Asia. For more information, please visit www.glenfarnegroup.com.
About Partners Group
Partners Group is a leading global private markets investment manager. Since 1996, the firm has invested over USD 135 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 96 billion in assets under management as of 30 June 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
Kris Cole
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(310) 652-1411
PG&E to Customers: Have a Plan for Adverse Weather Headed our Way
SAN FRANCISCO--(BUSINESS WIRE)--With meteorologists forecasting stormy weather this weekend and into next week in Northern and Central California, Pacific Gas and Electric Company (PG&E) reminds its customers to take the necessary steps to be prepared and stay safe.
Today is expected to be relatively calm, but rain and gusty winds will start overnight Saturday along the north coast and continue through Sunday in parts of Northern and Central California. This event is expected to cause moderate rain in some areas, along with a dusting of mountain snow.
“This storm has the potential to cause power outages due to rain and gusty winds. We’re urging our customers to have a plan to keep themselves and their families safe. Our meteorology team is closely tracking the weather and working with our operations teams in the field to ensure we’re ready to restore outages safely and as quickly as possible,” said PG&E principal meteorologist Scott Strenfel.
PG&E’s meteorology team has developed a Storm Outage Prediction Model that incorporates real-time weather forecasts, historical data and system knowledge to accurately show where and when storm impacts will be most severe. This model enables the company to pre-stage crews and equipment as storms approach to enable rapid response to outages.
Storm Safety Tips
Other tips can be found at www.pge.com/beprepared.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
SAN DIEGO--(BUSINESS WIRE)--Terra-Gen, a leading renewable energy developer and operator, today announced an agreement with Mortenson to proceed on the Edwards & Sanborn solar and energy storage project located in Kern County, California. The project consists of 1,118 megawatts of solar and 2,165 megawatt-hours of energy storage. It is currently the largest single solar and battery energy storage project to reach this milestone.
“Selecting the right partner to execute a project of this scale coupled with cutting edge battery experience was paramount for Terra-Gen, and Mortenson was a natural fit,” said Brian Gorda, Terra-Gen’s vice president of Engineering. “Terra-Gen is excited to push the industry to new heights and build a plant that provides energy for all hours of demand.”
The Edwards & Sanborn project is located near several operating wind and solar projects in Kern County, California. Mortenson is the full Engineering, Procurement, and Construction (EPC) contractor on both the solar and energy storage scopes. Site construction will commence in Q1 2021 with expected completion in Q4 2022.
Solar production on the site will utilize more than 2.5 million modules to produce enough energy to power 260,000 homes in California and energy storage will utilize more than 110,000 lithium-ion battery modules.
Mortenson is one of the top contractors in power with industry-leading experience in wind, solar, transmission and distribution, repowering and battery energy storage. The project is Mortenson’s 78th solar project and 11th energy storage project.
“The Edwards & Sanborn solar and energy storage project is industry-changing and during this challenging 2020 will redefine the impact these systems will have on our clean energy future,” said Trent Mostaert, Mortenson’s vice president and general manager of Solar. “We are proud to combine our solar and energy storage design and construction expertise with Terra-Gen’s development capabilities to deliver a world-class energy facility.”
At peak construction, more than 700 people will be employed on-site at the project.
About Terra-Gen, LLC
As a leading renewable energy developer that operates over 1.3 GW of wind, solar, and geothermal facilities, Terra-Gen specializes in development, construction, and operation of utility-scale wind, solar, energy storage, and geothermal generation facilities. ECP is a private equity firm focused on investing in North America’s energy infrastructure and acquired Terra-Gen in 2015. Since 2005, ECP has raised over $20 billion in commitments, utilizing this capital to build and acquire investment platforms across the renewable, power generation and environmental infrastructure sub-sectors.
About Mortenson
Mortenson is a U.S.-based, top-20 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. Mortenson’s expanding portfolio of integrated services helps its customers move their strategies forward, ensuring their investments result in high-performing assets. The result is a turnkey partner, fully invested in the business success of its customers. For additional information, visit www.mortenson.com.
Cameron Snyder, Mortenson, This email address is being protected from spambots. You need JavaScript enabled to view it.
Innovative technology breaks down barriers to indoor, vertical and greenhouse farming by reducing power consumption, cutting costs and increasing crop yield
DENVER--(BUSINESS WIRE)--Advanced Energy (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement, and control solutions – today unveiled its newest lighting and power control system for indoor, vertical and greenhouse farming.
AE’s new lighting and power system transforms the use of LED technology in horticultural lighting systems, which plays a fundamental role in cutting-edge farming practices that can address production challenges in food, pharmaceutical ingredients, plants and flowers. Utilizing AE’s system, customers reduce their power conversion costs by as much as 50 percent, significantly lower installation and operating costs, and increase the quality of crop yield.
“Our groundbreaking lighting, power and control system delivers significant improvements over conventional lighting solutions and opens up new opportunities for the industry,” said Joe Voyles, vice president, industrial marketing, at Advanced Energy. “We are transforming our customers’ operations by both reducing the amount of needed equipment and improving the efficiency of the lighting systems, thereby reducing cost and energy spend. Not only do these innovative new products increase the efficiency and quality of fruit and vegetable production, but they also open the door to establishing indoor farming facilities in harsh environments anywhere in the world.”
The new system consists of the patented Artesyn iTS™ (intelligent Transfer Switch) and iHPS™ configurable power supply. Alongside Artesyn’s compact new 12 kW 300 VDC module, AE delivers a cost-effective platform for the most advanced indoor farming applications. The system is estimated to produce a 38 percent savings to lighting power and control installation cost, while eliminating substantial amounts of wasted energy.
The new iHPS is a “short” version of AE’s market-leading iHP power supply. The shorter design allows for more space within the lighting and power cabinet for other crucial components, reduces the weight and cost, and increases the life of the system. The new iTS provides the industry’s first solution for switching or sharing a single power source between two different rooms. This reduces installation costs by cutting the number of iHP power supplies needed in half and it substantially reduces ongoing utility costs.
For detailed product information and technical specifications, visit the iHP product web page and the iTS product web page.
To learn more about the advantages of Advanced Energy’s Lighting Power and Control System for indoor , download the white paper.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance.
For press inquiries, contact:
Lora Wilson / Valerie Christopherson
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BSNL and Skylo Poised to Connect Billions of Sensors and Machines in Maritime, Agriculture, Railway, Logistics, and Disaster Management
PALO ALTO, Calif.--(BUSINESS WIRE)--Skylo, the first satellite-based IoT solution that turns machines into always-connected smart objects, today announced an exclusive partnership with BSNL, India’s government-owned telecommunications provider.
“For centuries, industries including agriculture, railways, and fisheries, have been operating in the physical world and haven’t had the opportunity to take full advantage of modern digital technologies like AI, machine learning, IoT, and space connectivity, regardless of their geography -- until today,” said Skylo CEO and co-founder Parth Trivedi. “With Skylo and BSNL, fishermen, farmers, and truck drivers can access the benefits of an affordable, reliable satellite network and connected sensors, giving them up to the minute information. As a result, they’ll be able to make better decisions, save time and money, radically improve operations, and even save the lives of their workers.”
Together, Skylo and BSNL will advance Prime Minister Modi’s vision of a true Digital India by connecting millions of sensors and machines from space, so that business owners anywhere can understand, manage, and predict what is happening in order to make smart and timely decisions. The network is accessible across the sub-continent and is being rolled out with select customers in government and private sectors.
“BSNL’s vision is to leverage technology to provide affordable and innovative telecom services and products across customer segments,” said Sh. P. K. Purwar, CMD, BSNL. “With our pan-India presence and Skylo’s new, disruptive satellite-based IoT data mobility solution, we now have an unparalleled opportunity to serve previously underserved industries by bringing an affordable and easy way to connect IoT sensors anywhere in India. We are confident that this will lead to tremendous efficiencies and new ‘connected’ business models for players in these industries and with their progress, India's growth story will get a boost.”
Skylo is currently being integrated and tested on trucks, commercial vehicles, railways, and fishing vessels in India. Manufactured under the “Make in India” initiative, Skylo has leveraged cellular-grade hardware to communicate over satellite, resulting in highly affordable, easy to install rugged hub devices, and an immersive dashboard to be able to access information from remote locations on mobile devices or desktops. Skylo leverages existing satellites to bring reliable connectivity without the need to add new infrastructure in space.
“Being able to affordably connect IoT devices, vehicles and vessels across the country is a transformative capability for India,” said Trivedi. “We are completely invested in the Government of India’s vision for a ‘Digital India’ and inspired by the Hon’ble Prime Minister, Shri Narendra Modi’s recent call of ‘Vocal for Local.’ We recognize NITI Aayog’s enormous contribution in creating a conducive environment for rapid innovation in India and remain grateful for their support. This is the world’s first 5G NB-IoT network over satellite, and we’re proud to be launching it initially in India.”
Whether equipping tractors or fishing boats, train cars or trucks, mining equipment or electrical grids, Skylo connects machines so they can start sharing data through the Skylo Hub. A small, smart, incredibly rugged box, the Skylo Hub reads sensors and transmits data to the Skylo Satellite Network which then sends data where it belongs: into people’s hands. The immersive Skylo Platform provides a visualized experience via mobile and desktop and gives users the ability to take immediate and appropriate action.
Please refer to today’s BSNL press release: BSNL, in partnership with Skylo, to introduce worlds' first, satellite-based narrowband-IoT network in India.
BSNL is an Indian state owned telecommunications company, headquartered in New Delhi India. It was incorporated by the Department of Telecommunications (DOT), Ministry of Communications, Government of India in 2000. It provides mobile voice and internet services through its nationwide network across India. It is the largest telecoms company in India with more than 60% market share and is the fourth largest wireless provider in the world.
About Skylo
Skylo delivers the world’s first disruptively affordable, satellite-based solution that connects machines and sensors, from slow moving tractors to fast moving trucks, from fishing boats at sea to railcars, from pipelines to livestock, no matter where in the world they are. Skylo continuously collects and shares this valuable data through an intuitive and immersive user platform so people can make smarter decisions faster. The first company to leverage the cellular Narrowband Internet of Things (NB-IoT) protocol for satellite communications, Skylo connects remote areas to serve a wide range of industries including farming, fishing, railways, logistics, and disaster preparedness. Skylo has offices in Palo Alto, CA; Bangalore, India; Tel Aviv, Israel; Espoo, Finland, and is growing globally to support its customers. To learn more about Skylo, visit www.skylo.tech, or find us on Twitter, LinkedIn, and YouTube.
Media Contact | Kelly Brieger | This email address is being protected from spambots. You need JavaScript enabled to view it. | 650-704-1748 | www.skylo.tech
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