DEARBORN, Mich.--(BUSINESS WIRE)--Ford Motor Company and Redwood Materials today announced they are working together to build out battery recycling and a domestic battery supply chain for electric vehicles. Ford and Redwood’s goal is to make electric vehicles more sustainable, drive down the cost for batteries, and ultimately help make electric vehicles accessible and affordable for more Americans.
Ford and Redwood are collaborating to integrate battery recycling into Ford’s domestic battery strategy. Redwood’s recycling technology can recover, on average, more than 95% of the elements like nickel, cobalt, lithium and copper. These materials can be reused in a closed-loop with Redwood moving to produce anode copper foil and cathode active materials for future battery production. By using locally produced, recycled battery materials, Ford can drive down costs, increase battery materials supply and reduce its reliance on imports and mining of raw materials.
“Ford is making electric vehicles more accessible and affordable through products like the all-electric F-150 Lightning, Mustang Mach-E and E-Transit, and much more to come,” said Jim Farley, Ford president and CEO. “Our partnership with Redwood Materials will be critical to our plan to build electric vehicles at scale in America, at the lowest possible cost and with a zero-waste approach.”
Ford is investing more than $30 billion in electrification through 2025, including the collaboration between Ford and Redwood, which will help deliver on Ford’s plans to localize the battery supply chain.
This builds on Ford’s previously announced plans to scale battery production through multiple BlueOvalSK battery plants in North America starting mid-decade. By building out a domestic, sustainable supply chain with recycled materials, Ford can drive down battery costs and help protect the environment. BlueOvalSK is the U.S. joint venture that Ford and SK Innovation intend to form, subject to definitive agreements, regulatory approvals, and other conditions.
Last week, Redwood announced it will produce strategic battery materials, supplying anode copper foil and cathode active materials to U.S. partners. Redwood plans to transform the lithium-ion battery supply chain by offering large-scale sources of these domestic materials to reduce the cost and environmental footprint of electric vehicle production. The local supply of these two materials is a key part of Ford’s commitment to reduce the environmental impact of battery manufacturing and continue to ramp up electric vehicle production in the U.S.
“We are designing our battery supply chain to create a fully closed-loop lifecycle to drive down the cost of electric vehicles via a reliable U.S. materials supply chain,” said Lisa Drake, Ford’s North America chief operating officer. “This approach will help ensure valuable materials in end-of-life products re-enter the supply chain and do not wind up in landfills, reducing our reliance on the existing commodities supply chain that will be quickly overwhelmed by industry demand.”
Redwood Materials, founded by JB Straubel and based in northern Nevada, is creating a circular supply chain for batteries and helping partners across the electric vehicle and clean energy industries by providing pathways, processes, and technologies to recycle and remanufacture lithium-ion batteries.
“Increasing our nation’s production of batteries and their materials through domestic recycling can serve as a key enabler to improve the environmental footprint of U.S. manufacturing of lithium-ion batteries, decrease cost and, in turn, drive up domestic adoption of electric vehicles,” said Straubel, Redwood Materials CEO. “Redwood and Ford share an understanding that to truly make electric vehicles sustainable and affordable, we need to localize the existing complex and expensive supply chain network, create pathways for end-of-life vehicles, ramp lithium-ion recycling and increase battery production, all here in America.”
Longer-term, Ford and Redwood plan to work together on the best approach to collect and disassemble end-of-life batteries from Ford’s electric vehicles for recycling and remanufacturing to help reduce the cost associated with battery repairs and raw materials to manufacture all-new batteries.
“Our work with Redwood will, by design, help ensure the infrastructure is in place to cost-effectively recycle end-of-life Ford batteries to create a robust domestic materials stream and drive down the cost of electric vehicles,” Drake said.
Ford to support Redwood Materials expansion
To further advance these business opportunities between the companies, Ford invested $50 million into Redwood Materials to help the company expand its footprint in the U.S.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford designs, manufactures, markets and services a full line of connected, increasingly electrified passenger and commercial vehicles: Ford trucks, utility vehicles, vans and cars, and Lincoln luxury vehicles. The company is pursuing leadership positions in electrification, connected vehicle services and mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 182,000 people worldwide. More information about the company, its products and Ford Motor Credit Company is available at corporate.ford.com.
About Redwood Materials
Redwood Materials is inventing sustainable materials to build the world by creating circular supply chains, turning waste into profit and solving the environmental impacts of new products before they happen. Founded by JB Straubel, the Nevada-based company is working to transform the lithium-ion battery supply chain by offering large-scale sources of domestic anode and cathode materials produced from recycled batteries, creating a fully-closed loop that will drive down the costs and environmental footprint of electric vehicles. More information available at redwoodmaterials.com.
For news releases, related materials and high-resolution photos and video, visit www.media.ford.com.
Ford Motor Company
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JANESVILLE, Wis.--(BUSINESS WIRE)--#SHINEmedical--SHINE Medical Technologies LLC today announced that the company has changed its name to SHINE Technologies LLC.
SHINE’s new name highlights the company’s core technological competencies, skilled team and focus as a next-generation nuclear technology company. SHINE is pursuing a four-phase strategy for the development of nuclear fusion technology to achieve its ultimate goal: producing fusion energy. SHINE’s technology is currently being applied to advanced industrial inspection services and medical isotope production, phases I and II of the company’s four-phase approach, respectively.
“Our long-term goal is to create and deploy systems that produce clean fusion energy, and we are continuing to grow towards that goal by commercializing more near-term applications of fusion,” said Greg Piefer, SHINE’s founder and CEO. “In addition, our merger with Phoenix earlier this year strengthened our position by enabling us to integrate a key technological capability that supports our near- and long-term plans.”
To hear more from Greg Piefer about SHINE’s name change, please follow this link to a video on the company’s new website.
Phoenix commercialized phase I, advanced industrial inspection services, over a decade ago by utilizing its fusion-based technology for nondestructive testing. These applications take neutron images or perform other assay measurements of modern materials in detail, ensuring that the quality and safety needs of clients in the aerospace, defense and energy industries are met.
SHINE’s phase II involves the application of fusion to the production of medical isotopes. The company expects to produce diagnostic isotopes for heart disease and other applications and is producing therapeutic isotopes for certain cancers. SHINE anticipates producing these isotopes at commercial scale at facilities on its campus in Janesville, Wis.
“The goal of each phase of our approach is to create social and economic value while building additional capacity and capability, and deepening our scientific understanding of fusion technology as we progress to clean energy production,” Piefer said.
SHINE’s next step will be to explore the use of its technology to recycle nuclear waste in phase III. Carbon-free nuclear power currently faces a major political obstacle because it produces radioactive waste, some of which can last for millions of years. If successful, SHINE’s phase III is expected to help mitigate this problem by recycling a portion of this waste and using fusion to shorten the half-life on long-lived waste forms. Importantly, SHINE’s work in this phase could help fission power become a more sustainable form of carbon-free energy.
The goal of phase IV is to generate clean, abundant and affordable fusion energy. SHINE believes its achievement of this goal will be built on the strength of its skilled team, including their experience with challenging nuclear technology projects, the breadth of the company’s unique technological capabilities, and the experience expected to be gained from operating many powerful fusion systems in the field during phase III.
“We are excited that our new name more clearly reflects our core technological competencies, strong team and long-term ambitions,” Piefer said. “SHINE was founded on differentiated technology, and a unique, lean and phased approach to developing nuclear technology. It’s great to be telling the world more about the company we’ve built, with an updated brand that reflects it.”
About SHINE Technologies
SHINE is a nuclear technology company committed to improving the lives of people and the planet. The company is focusing its fusion-based technology initially on advanced industrial imaging and the production of diagnostic and therapeutic isotopes. These isotopes include molybdenum-99, a diagnostic isotope used to diagnose heart disease, cancer, and other conditions, and lutetium-177, a therapeutic isotope that may improve the outcome of some cancer patients when linked to a cell-targeting molecule. SHINE has a long-term strategy to solve some of humanity’s biggest problems, including nuclear waste recycling and the production of clean fusion energy, in addition to advanced industrial imaging and medical isotopes, by pursuing our vision for progressively broad and impactful uses of fusion technology. For more information about SHINE, please visit our website at https://www.shinetechnologies.com.
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NEW YORK--(BUSINESS WIRE)--Standard Industries Holdings Inc., a privately held global industrial company, today announced the completion of its acquisition of W. R. Grace & Co. (“Grace”) for $70.00 per share in cash.
“We are thrilled to welcome Grace to the Standard Industries family,” said David Millstone and David Winter, Co-CEOs of Standard Industries. “We look forward to working with the talented team at Grace to advance our commitment to sustainable modern industrialism, as well as to fuel innovation and continued success for Grace’s customers, employees and the communities in which the company operates.”
Hudson La Force, Grace’s President and Chief Executive Officer, said, “Today marks an exciting new chapter for Grace. As part of Standard Industries, Grace will be even better positioned to provide innovative and sustainable technologies to create value for our customers. We’re very pleased to have successfully completed this transaction and delivered significant value to our shareholders.”
As Standard Industries announced on August 31, 2021, La Force will continue as CEO until the end of the year when he will join Standard’s advisory board. Bhavesh V. (Bob) Patel, who currently serves as CEO of LyondellBasell, will succeed La Force as CEO of Grace in January 2022.
The transaction was announced on April 26, 2021, and received approval from Grace shareholders on September 17, 2021. As a result of the transaction completion, Grace is now a privately held company that will operate as a standalone company within Standard Industries, which also includes the industry-leading businesses GAF, BMI, GAF Energy, Siplast, Schiedel, and SGI. Grace’s common stock has ceased trading on the New York Stock Exchange as of market close on September 21, 2021.
Advisors:
Citi and J.P. Morgan served as financial advisors and Sullivan & Cromwell LLP served as legal counsel to Standard Industries Holdings.
Goldman Sachs & Co. LLC and Moelis & Company LLC served as financial advisors and Wachtell, Lipton, Rosen & Katz served as legal counsel to Grace.
About Standard Industries:
Standard Industries is a privately-held global industrial company operating in over 80 countries with over 20,000 employees. The Standard ecosystem spans a broad array of holdings, technologies and investments—including both public and private companies from early to late-stage—as well as world-class building solutions, performance materials and next-generation solar technology. Throughout its 140-year history, Standard has leveraged its deep industry expertise and vision to create outsize value across its businesses, which today include operating companies GAF, BMI, Grace, GAF Energy, Siplast, Schiedel and SGI, as well as related businesses 40 North, a multi-billion-dollar investment platform, 40 North Ventures and Winter Properties. Learn more at standardindustries.com.
About Grace
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 4,300 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
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SLIPS® Dolphin marine paint is now available across Europe through a partnership with Par-Ky Italia srl – Milano - Italy
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Adaptive Surface Technologies, Inc. (AST), a world leader in repellent surfaces, today announced it has entered into a new distribution partnership with Green Sailor by Par-Ky Italia srl to offer its SLIPS® Dolphin™ marine paint to new customers in Europe.
SLIPS Dolphin is a distinctive biocide-free marine bottom paint developed for recreational and commercial boats of all sizes and solves persistent biofouling issues that can lead to boat drag and high fuel costs. When submerged in water, SLIPS Dolphin creates an ultra-smooth, slippery surface that fouling organisms such as barnacles and mussels have difficulty attaching to. Unlike many existing products on the market today, such as traditional copper paint, SLIPS Dolphin does not contain any biocides that deplete over time, ensuring that it is environmentally friendly and offers more longevity for users.
Green Sailor, a division of Par-Ky Italia srl, is dedicated to the defense of the marine environment and will supply SLIPS Dolphin to new recreational boating customers across Europe.
“Green Sailor is committed to supporting a more environmentally-friendly community on the water through the products they sell, making SLIPS Dolphin a natural fit,” said David Ward, CEO of AST. “We are excited to partner with them to significantly expand our global reach and increase availability of our ocean-friendly, high performance anti-fouling product.”
To ensure that SLIPS Dolphin performs in all types of waters and environments, the AST team field tested the product over a number of years in multiple locations around the globe, including in the tropical waters of Singapore and Florida. From this extensive testing, customers who use SLIPS Dolphin can expect an 8% increase in fuel savings over traditional anti-fouling solutions.
“Our primary mission is to protect the marine environment, which influences every product that we choose to sell to our community,” said Paolo Nosenzo, CEO of Par-Ky Italia srl. “SLIPS Dolphin is a strong addition to our product lineup and we are excited about the opportunity to educate more boaters about the environmental and financial benefits of this paint, so we can protect our boats and oceans at the same time.”
For more information on AST’s full suite of products, including SLIPS Dolphin please visit https://adaptivesurface.tech/.
About Adaptive Surface Technologies
A world leader in repellent surfaces, Adaptive Surface Technologies, Inc. is a Cambridge, MA-based industrial technology company that produces additives and coatings used for a wide range of industrial, marine, and packaging applications. Our surface-active polymers and SLIPS® coating systems create novel surfaces that repel fluids, contaminants, ice, and biological fouling agents. For more information, visit https://adaptivesurface.tech.
About Green Sailor
Green Sailor is a division of Par-Ky Italia srl, dedicated to the defense of the marine environment. For more information on the company or to purchase SLIPS Dolphin in Europe, please visit https://greensailor.it/.
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Targeting Internet of Things Sensing Networks, NevadaNano will show the Mini Flammable in booth #733 at Sensors Converge this week, September 21 through 23.
RENO, Nev.--(BUSINESS WIRE)--#MPS--NevadaNano, the world’s leading gas detection sensor technology innovator, today announced the “MPS™ Mini” a miniaturized version of the highly popular Molecular Property Spectrometer™ (MPS™) Flammable Gas Sensor. The new sensor is the world’s most accurate hydrocarbon sensor in its class and eliminates the need for maintenance during its 10+year lifetime. The sensor will debut this week at Sensors Converge in Booth #733.
“We have extended our market-leading reliability, accuracy, and lifetime with enhanced algorithms which extends our market-leading position of detecting 19 of the most common combustible gases found in residential, commercial, and other general use environments,” said Ralph Whitten, President, and Member of the Board of Directors, at NevadaNano. “This new product in a lower cost package specifically targets IoT and high volume applications. This enables our customers to set new standards in connected gas sensors and helps companies create safer working environments in industrial, commercial and consumer applications.”
The newest addition to NevadaNano’s MPS product family, the MPS Mini Flammable gas sensor measures the thermodynamic properties of the air-gas mix and accurately reports 0-100% LEL across 19 flammable gases without the need for field calibration. This performance meets the need for flexible sensor platforms in a wide range of non-industrial applications and makes it ideal for residential and commercial applications like smart meters and IoT devices. In essence, the Mini Flammable creates safer environments for people and their surrounding communities.
Integrated, real-time measurements and built-in compensation for temperature, pressure, and humidity enhance the accuracy of all NevadaNano’s MPS flammable gas sensors. Gas concentration readings are accurate across the entire environmental range, including rapid environmental transients, delivering best-in-class accuracy. The Mini Flammable, like all MPS sensors, is inherently immune to drift, decay, or poison.
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About NevadaNano
NevadaNano's programmable, multi-gas detection technology is the first new approach to flammable gas detection in over 40 years. The MPS technology was developed with DARPA, the DOD, and the Department of Homeland Security for the most challenging gas detection applications and is the winner of the coveted R&D100 award and the Tech Connect National Innovation award. The sensors utilize 26 patented inventions to tackle the toughest chemical analysis tasks. For information, visit NevadaNano.com or connect on LinkedIn.
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Latest Escalent EVForward DeepDive Report Outlines Car Shopping Preferences and Unique Role Dealers Can Play in EV Adoption Race
LIVONIA, Mich.--(BUSINESS WIRE)--Car shoppers—including millennials—prefer the traditional dealer-centric car shopping experience to direct retail by nearly a three-to-one margin. Further, nearly one-third of shoppers expect to lean on a car dealer as a primary source of information as they evaluate electric vehicles (EVs).
Those are the latest findings of a new Dealer DeepDive report from EVForward, the largest, most comprehensive study of the next generation of electric vehicle buyers. The dedicated platform was developed in 2020 by Escalent, a top human behavior and analytics advisory firm with extensive experience counseling the world’s largest automotive companies.
The study’s respondents have sent a clear message regarding traditional and emerging car shopping models:
“Car shoppers are sending a clear message to automakers—they like the traditional dealer model and prefer to handle much of the shopping process in-person,” said Mike Dovorany, Automotive & Mobility vice president at Escalent and head of EVForward. “Further, EV Intenders—respondents identified by EVForward as the next generation of EV buyers—show a keen interest in making the car dealer experience a core part of their information-gathering, shopping and decision-making processes.”
When asked which sources they are most likely to use when learning about electric vehicles, 63% of EV Intenders indicate test driving an EV is important—the most of any source of information available. Additionally, 31% of all respondents indicate a dealership salesperson would be among their primary sources of information. Automakers must seize this key opportunity in what is growing to be a competitive race for shoppers’ attention and consideration.
EVForward offers a unique look at the next generation of EV buyers, with more than 600 variables encompassing proprietary survey information and additional profiling data. The tool provides rich, actionable analyses based on an unrivaled quantity and quality of inputs to inform the steps industry players need to take today to inspire broader adoption of EVs and ensure their success with future buyers.
About EVForward™
This EVForward DeepDive was conducted among a national sample of 1,003 respondents and included a survey, focus groups and industry expert interviews between May 5 and June 16, 2021. These respondents are a subset of the EVForward database, a global sample of more than 20,000 new-vehicle buyers aged 18 to 80, weighted by age, gender and location to match the demographics of the new-vehicle buyer population and by vehicle segment to match current vehicle sales. The sample for this research comes from an opt-in, online panel. As such, any reported margins of error or significance tests are estimated and rely on the same statistical assumptions as data collected from a random probability sample. Escalent will supply the exact wording of any survey question upon request.
About Escalent
Escalent is a top human behavior and analytics advisory firm specializing in industries facing disruption and business transformation. As catalysts of progress for more than 40 years, we transform data and insight into a profound understanding of what drives human beings. And we help businesses turn those drivers into actions that build brands, enhance customer experiences and inspire product innovation. Visit escalent.co to see how we are helping shape the brands that are reshaping the world.
Jordan Walker
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ORLANDO, Fla.--(BUSINESS WIRE)--Siemens Energy announced today that it will provide four static synchronous compensator (STATCOM) installations for LS Power Grid California, LLC (LS Power) substation projects in California. A STATCOM is a quick-reacting system capable of providing or absorbing reactive power to regulate the voltage at the point of connection to a power grid. This voltage regulation will be key to ensuring the reliability of the power grid as renewable energy sources are brought online, enabling further decarbonization of California’s energy mix.
With the retirement of Pacific Gas and Electric Co.’s (PG&E) Diablo Canyon nuclear power plant in 2025, it is expected that there will be greater sensitivity to voltage instability, especially as PG&E integrates more renewable generation onto the grid. Two of the STATCOM systems are to be installed at LS Power’s Orchard substation connecting to the existing PG&E Gates 500 kilovolt (kV) substation in Fresno County to provide 848 megavolt-ampere (MVAr) of dynamic reactive power support. Under the light-load conditions, this support is anticipated to mitigate high voltages during extreme contingencies on the Bulk Power System.
The other two STATCOMs will be installed at LS Power’s new Fern Road substation connecting the Round Mountain to Table Mountain 500 kV transmission lines. The purpose of these systems will be for voltage control and voltage support in case of system events and transmission outages.
“We are proud to partner with LS Power on this project,” said Matt Neal, vice president of Transmission Solutions for Siemens Energy. “LS Power has a forward-looking strategy to help ensure grid stability as more and more renewable power sources are part of the generation mix. When it comes to decarbonizing our energy systems, this will be one of the most important flexible AC transmission projects in the U.S., both in terms of the power and voltage rating, as well as the challenging location from a seismic perspective. We’re proud to support California’s efforts to incorporate more renewable energy sources into the power generation mix in a way that is not only efficient, but reliable in all weather conditions.”
PG&E will replace the Diablo Canyon plant exclusively with energy sources that don’t emit CO2. The company has also promised to source 55% of its total electricity from the sun, wind, and other renewable energy sources by 2031.
This press release is available at www.siemens‑energy.com/press
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
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DUBLIN--(BUSINESS WIRE)--The "Global Shipping Container Market Size, Share & Trends Analysis 2021-2028 by Product (ISO, Non-standard), by Type (Dry, Reefer, Tank), by Size (20', 40', High Cube), by Flooring, by Application, by Region" report has been added to ResearchAndMarkets.com's offering.
The global shipping container market size is expected to reach USD 15.83 billion by 2028, expanding at a CAGR of 12.0% from 2020 to 2028
The market is expected to be driven by maritime trade, expanding penetration of the e-commerce industry, digitization in shipping container space, and increasing demand for specialized shipping containers by the department of defense.
20' and 40' are the most popular sizes of shipping containers as of 2021. Although based on application shipping containers are often manufactured in a variety of sizes such as 8', 10', 48', 53', and others. Their increasing demand for transportation of a variety of goods such as food, pharmaceutical, automotive components, and agricultural products is expected to support industry growth.
Trade agreements promote trade among the nations and favorably impact the demand for shipping containers. In November 2020, members of the Association of Southeast Asian Nations (ASEAN) and five regional partners signed the Regional Comprehensive Economic Partnership (RCEP), which is one of the largest free trade agreements in the world. Moreover, recently concluded multiple trade agreements including NAFTA, EVFTA, EU-UK Trade and Cooperation Agreement (TCA), and others are likely to fuel the growth of the market.
The significant developments in commercial vessels and innovation of efficient and better cargo ships equipped with advanced technology such as navigation systems, advanced sensors, and other components are accelerating the demand for cargo transportation through ships, which is further fueling the growth of the market.
The global e-commerce industry witnessed an exponential surge in the last few years, besides, the rising penetration of smartphones and the internet, especially in developing regions is anticipated to fuel the growth of the e-commerce industry further. The growth of the transportation industry on account of growing online retails is expected to benefit the shipping containers market.
Shipping Container Market Report Highlights
Market Dynamics
Market Driver Analysis
Market Restraint Analysis
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/6ls4ar
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Independent Research Firm uncovers that significant events would need to happen for organizations to elevate the importance of third-party cyber risk mitigation strategies
DENVER--(BUSINESS WIRE)--CyberGRX, provider of the world’s first and largest global risk exchange, today announced the results of their commissioned study on how organizations prioritize third-party risk. Conducted by Forrester Consulting, the research comprises surveys from 319 respondents in IT, security, and risk roles covering technology, retail, oil and gas, healthcare, financial services, and other highly regulated industries. The study highlights that while organizations recognize third-party threats expose them to great risk, many organizations fail to take adequate measures to mitigate it. In fact, while they grapple with third-party cyber risk management (TPCRM), the weak points in their current mitigation strategies exacerbate the threat of cyber incidents.
The Forrester study, Why Isn’t Your Organization Prioritizing Third-Party Risk?, identifies four major themes:
“Organizations that fail to take thoughtful steps to monitor, defend, and prepare for third-party cyber incidents have undermined their entire cybersecurity posture,” said Dave Stapleton, CISO, of CyberGRX. “As the Forrester study highlights, many organizations recognize the hazards posed by third parties; however, their actions do not reflect effective mitigation. Lacking a defined TPCRM strategy creates the opportunity for a breach, even if internal risk management strategies are otherwise solid and effective.”
To improve third-party cyber risk practices, organizations must consider vendors as an extension of their own brand, and set a strict baseline and expectations for their cyber maturity. Companies should leverage data and automation to ensure that their entire supply chain will meet the outlined cyber requirements. Additionally, it is imperative to continuously monitor the changing cyber risk of vendors. As new attack vectors are unleashed, a vendor’s security posture can be rapidly altered. Finally, constant communication regarding cyber posture and compliance among all parties involved is critical and security training for employees and stakeholders should be mandatory.
CyberGRX’s Chief Information Security Officer, Dave Stapleton, and guest speaker, Forrester principal analyst Renee Murphy will present key findings and recommendations from the research during a webinar on Tuesday, October 12 at 2:00 pm EDT. To learn more:
Register for the webinar
Download the full report
About CyberGRX
CyberGRX is on a mission to modernize third-party cyber risk management. Built on the market’s first and largest third-party cyber risk exchange, CyberGRX's dynamic and scalable approach is innovating TPCRM for enterprises and third parties. Armed with fast and accurate data and a proven and innovative approach, CyberGRX customers make rapid, informed decisions and confidently engage with partners. Based in Denver, CO, CyberGRX was designed with partners including Aetna, Blackstone and MassMutual.
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Funding Will Drive International Expansion and Growth of Development
TORONTO & PALO ALTO, Calif.--(BUSINESS WIRE)--#boating--Raiven Capital, a global early-stage venture fund, today announced its investment in KnowWake, the leading marine navigation platform for recreational boaters. The funding will be used for international growth and product enhancement. Now available in 26 countries, KnowWake is commonly referred to as "Waze for the Water" and brings together safety and fun for everyone on any type of vessel.
Other investors include LOUD Capital, Strand Venture Partners, and notable angels.
“We are very excited about this crowdsourced platform, especially as there are few offerings that enable boaters to navigate waterways safely and efficiently while building community,” said Raiven Capital’s General Partner Paul Dugsin.
“KnowWake rethinks boating as we know it and we are pleased to see the company connecting so many on the waterways,” said Anna Shen, Venture Partner, Raiven Capital.
"Raiven Capital brings some of the brightest minds in venture capital from Silicon Valley. The follow-on investment from our initial investors is exciting as we are rapidly growing to meet user demand. Also, keep an eye out for the launch of our business portal -- just in time for the Fort Lauderdale International Boat Show in late October,” said Dan Karsko, CEO and Founder of KnowWake.
Founded on the idea to provide simplified real-time wake zones and waterway information, KnowWake is a first-of-its-kind navigation platform crowdsourcing from users across the globe.
Fort Lauderdale-based KnowWake offers real-time information shared with the community and includes: hazards, raft-up parties, police and more. Since releasing location sharing, grouping and in-app messaging earlier this year, KnowWake has entered the social commerce space and has several key features on the horizon to bring high-value to the user experience.
“The market potential is enormous: Mobile device-based navigation apps have become vital for real-time information on roads and highways and now for waterways,” said Supreet Manchanda. General Partner, Raiven Capital.
KnowWake is positioning itself to be the leader in this technology and is the fastest growing community online for recreational boating. With 5000+ miles of wake zones charted throughout the Intracoastal Waterway (ICW) and beyond, users can find and route to more than 40,000 verified waterfront destinations.
About Raiven Capital
Raiven Capital is a global early-stage Series A technology venture fund with roots in both Silicon Valley and Toronto. Raiven Capital focuses on opportunities created by artificial intelligence, 5G and the Internet of Things. Raiven actively seeks passionate founders developing companies that optimize value chains across cybersecurity, finance, energy, environment, health, medical devices, and food sectors. Once growth is robust, Raiven exits its portfolio companies to later-stage capital in Silicon Valley and beyond.
Anna Shen
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Key figures analyze Arctic’s global strategic value, multibillion dollar investment potential
NEW YORK--(BUSINESS WIRE)--#AI--The real assets news site Investable Universe announces the launch of Polar Futures, a media series that examines the eight-nation Arctic region’s growing geopolitical importance and its potential for attracting hundreds of billions of dollars in direct investment to develop the region and its bounty of natural resources.
Institutional investors, pension funds and other investors are eyeing the potential of developing infrastructure, shipping, logistics, telecommunications, mining, aquaculture and marine resources and of incubating technologies that aid the transition to renewable energy.
Additionally, new trans-Arctic shipping lanes made more accessible by climate change will focus competing political and military interests on the polar zone.
Nuanced insights from pivotal figures
Against this fluid strategic backdrop, the weekly newsletter and podcast series, curated by editor-in-chief Rebecca Engmann Darst, will feature interviews with pivotal figures in the Arctic discourse, including:
The series also will include insights about the roles of Canada, Finland, Norway, Russia and Sweden in the rapidly evolving Arctic zone.
Subscribers will gain exclusive access to nuanced transnational views of the polar investment and geopolitical landscape through a weekly newsletter and podcast interviews with guests from across the diplomatic, media and entrepreneurial spectrum.
Will globalization and climate change spur great-power rivalry in the Arctic?
Noting that research from the Council on Foreign Relations examined the Arctic as a potential site for “the return of great-power rivalry”[1] amid the challenges of globalization and climate change, Darst believes that the Arctic North will be the nexus of a number of conflicts and opportunities in the twenty-first century.
“The polar region’s strategic value is hard to overstate. It holds vast natural and mineral resources and is developing new and high-tech industries in parallel to those riches. Yet in the region, there’s also an intricate tapestry of historical and cultural factors that are rarely discussed on a global level. We will delve unflinchingly into all of them in the newsletter and podcast,” says Darst.
Subscribe to the Polar Futures newsletter and podcast bundle at www.investableuniverse.com/polarfutures.
About Investable Universe
Trofast Media’s Investable Universe provides leading edge insights into investment in real assets, the global “market of things” that spans traditional investments and emerging technologies on earth and in space.
Learn more at InvestableUniverse.com.
[1] https://www.cfr.org/in-brief/whats-stake-rising-competition-arctic
Rebecca Darst, Editor
+1 203 614.9027
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In 2020, About 85% of PG&E’s Electric Power Mix Came from Carbon-Free Resources
PG&E Supports Customers’ Electric Vehicle, Rooftop Solar and Battery Adoption
PG&E Invests In Utility-Scale Battery Energy Storage To Enhance Overall Grid Reliability, Integrate Renewables, and Help Customers
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) has been helping drive the clean energy transition in California and the United States for more than 20 years and is proud to support this year’s National Clean Energy Week (Sept. 20-24).
“We are proud of our history as a leader in the industry and helping California achieve its bold clean energy goals,” said Jason Glickman, Executive Vice President, Engineering, Planning, and Strategy. “We are working every day to identify new ways to bring on more clean energy resources that will improve our environment while delivering safe and reliable energy to more than 16 million people in Northern and Central California.”
Clean Energy Portfolio
PG&E delivers some of the nation’s cleanest energy. In 2020, more than 35% of the electricity PG&E delivered to its customers came from eligible renewable resources including solar, wind, bioenergy, geothermal and small hydropower. Adding nuclear and large hydropower, about 85% of PG&E’s electric power mix was from carbon-free resources.
Solar Power Growth
At 45%, large-scale solar energy accounted for the largest portion of PG&E’s total renewable energy power mix in 2020.
Additionally, PG&E has connected more than 580,000 customers with private rooftop solar to the electricity grid, and supports customers with resources before, during and after they go solar. The rooftop solar in PG&E’s service area represents about 20% of all rooftop solar in the country.
PG&E’s Solar Choice program offers customers an easy way to go solar — without installing rooftop solar panels. Through the program, customers can purchase up to 100% of their electricity from a community solar program generating power in California.
Adopting Electric Vehicles
PG&E is committed helping increase EV adoption in its service area, where about a quarter of all electric vehicles in the U.S. can be found. Increasing EV adoption is a critical component to making California’s clean air future a reality as transportation is the single largest source of greenhouse-gas emissions in California, contributing 41%. The state aims to have 5 million zero-emission vehicles on the road by 2030 as well as 250,000 charging stations. Additionally, Gov. Gavin Newsom signed an executive order in September 2020 that will prohibit the sale of new gasoline- and diesel-powered vehicles after 2035.
Responding to the high rate of EV adoption in its service area, PG&E supports the large-scale electric infrastructure needed to incorporate EV charging systems onto the electric grid. This includes supporting customers for their EV-related projects along with specifically designed programs helping customers transition to electric across light-, medium- and heavy-duty vehicles. Additionally, PG&E supports EV adoption through specially designed rates, rebates and tools.
Progress on Battery Energy Storage
PG&E is investing in battery energy storage to enhance overall grid reliability, integrate renewables, and help customers save energy and money.
The company currently has contracts for battery energy storage projects totaling more than 1,400 MWs of capacity to be deployed throughout its service area and the state through 2023. PG&E is well-positioned with the battery energy storage projects under contract to meet the state’s ambitious clean energy and storage goals, while ensuring grid reliability.
In addition to large, grid-scale battery energy storage, PG&E connects hundreds to thousands of new, behind-the-meter (BTM) battery energy storage systems to the grid every month. To date, more than 28,000 PG&E customers have installed and connected BTM battery energy storage systems to the grid throughout PG&E’s service area — most of which are residential customers — totaling more than 316 MWs of capacity.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
Company’s flagship product MeOH-To-Go™ converts previously unusable products into easily transportable, profitable methanol
HOUSTON--(BUSINESS WIRE)--Modular Plant Solutions (MPS), a global engineering firm specializing in process modularization and project implementation, in Friendswood, Texas, outside of Houston, has introduced a unique approach to small-scale plant designs for the for the oil, petrochemical and process industries. Using this design approach, the company has developed a small-scale modular methanol plant, MeOH-To-Go™ (Methanol-To-Go™), which enables users to produce their own methanol output from associated, stranded, flared or pipeline gas.
Russell Hillenburg, president and co-founder of MPS, and David Townsend, co-founder and vice president of engineering for MPS, developed the idea for a modularized structural system for process plants after brainstorming solutions to more efficiently and economically use stranded and flared gases, which are often found in remote, hard-to-reach areas. Hillenburg, a Houston-area entrepreneur who is also CEO of Woven Metal Products, a premier fabrication facility that manufactures reactor and tower process internals, brought their idea to market by launching MPS in 2016. Drawing on Townsend’s experience in the industry, the co-founders first focused on producing methanol, a commodity that tracks the price of oil.
“We created a design that takes the guesswork out of planning and cost estimates and created something that is easily-transportable, constructable and operable,” said Hillenburg. “The way we approach modularization is about efficiency and standardization of components, opening up options for locations that were previously unattainable.”
MPS’s standard MeOH-To-Go™ plant has a three-stage process to convert natural gas to Grade AA methanol, which is a basic building block for the production of various chemical derivatives. Methanol has widespread applications for several industries — from plastics, automotive and paints to adhesives, construction and pharmaceuticals, as well as most recently being adopted as a clean-burning marine transportation fuel. The plant’s small-scale modularization not only helps customers save on upfront costs, but also ensures the plants are easy to transport, assemble and disassemble to move if needed — even in remote locations. In fact, MPS’s patent-pending design is based on the ISO 1496 container standard, so the modules can be shipped all over the world via container ship, rail and truck, and re-assembled in the field.
“Our design reduces on-site construction risks and makes capital cost more predictable. The economics are now comparable with world-scale plants,” said Townsend. “And since we build the modules to the ISO-container standard, we can use multi-modal shipping for a fraction of the transportation cost of standard modular construction.”
This year, West Virginia Methanol permitted three MeOH-To-Go™ plants, which will be designed to produce 900 metric tons per day of Grade AA methanol from natural gas. The project is expected to come online in 2024.
Currently, MPS has two other plants in the design phase: DME-To-Go™, an add-on option for MeOH-To-Go™ plants to produce Dimethyl Ether (DME), a clean burning alternative diesel fuel, as well as Gasoline-To-Go™, a small-scale modular plant to produce 88 Octane gasoline.
About Modular Plant Solutions
Modular Plant Solutions (MPS) is a global engineering firm specializing in process modularization and project implementation based in Friendswood, Texas, outside Houston. The company’s patent-pending modularized structural system is designed for customers seeking cost-effective, easily transportable, scalable solutions for plant design — that can be shipped and assembled anywhere in the world. The company’s flagship product, MeOH-To-Go™ (Methanol-To-Go™), enables users to produce their own methanol output from associated, stranded, flared or pipeline gas. MPS’s highly-skilled team has nearly 550 years of combined experience in construction, engineering, fabrication and operations, and brings hands-on experience to deliver best-in-class plant solutions. Find out more at https://modularplantsolutions.com and on LinkedIn.
Heather Bennett
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Provides low-emission fuel solution for the northeastern United States
HOUSTON--(BUSINESS WIRE)--Tennessee Gas Pipeline (TGP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI), and Southwestern Energy Company (NYSE: SWN) today announced the initiation of a responsibly sourced natural gas (RSG) strategic agreement. The goal of the agreement is to further reduce methane emissions across the natural gas value chain by receiving and transporting RSG to market and, in this case, specifically to a market in the Northeast. RSG is natural gas that has been produced from a natural gas well and transported by companies whose operations have been independently verified as meeting certain environmental, social and governance (ESG) standards, particularly related to methane emission reductions.
RSG goes through a rigorous verification process to certify that it meets or exceeds the standards established by the ONE Future coalition, which are designed to achieve a 1% or lower methane intensity level, or 99% methane efficiency, by 2025. With this agreement, Project Canary will apply its TrustWellTM certification process and continuous emissions monitoring devices to SWN production sites in the Appalachian Basin, ensuring a methane intensity rate of 0.28% or lower, per ONE Future upstream targets (production, compression and gathering). SWN achieved an intensity rate of 0.055% in 2019, according to its annual Corporate Responsibility report, and is pursuing further emission reductions through various initiatives. The KMI transportation network, including TGP, has significantly beat its 0.31% ONE Future transmission target with a rate of only 0.03% in 2019, as published in the company’s latest ESG report. These combined industry segments substantially outperform the estimated average intensity rate of up to 1.41% for conventional natural gas emissions across the industry value chain, according to EPA data provided by a 2018 peer-reviewed article in Science Magazine. Additional criteria evaluated by Project Canary’s Trustwell certification include impacts to air, land, water and the community as well as the mechanical integrity of well design and practices.
As part of the agreement, SWN will produce and TGP will transport the RSG on its existing pipeline infrastructure to benefit a large market in the Northeast where the distribution of the RSG is expected to power the equivalent of approximately 100,000 homes annually while reducing GHG emissions equal to the removal of approximately 5,000 internal combustion engine vehicles from the road. The market will begin experiencing the benefits of RSG November 1, 2021. TGP and SWN are both founding members of the ONE Future Coalition, working together to reduce methane emissions and to ensure the future of natural gas as a long-term sustainable fuel.
“We are pleased to be part of this agreement focused on providing this lower-carbon fuel to the Northeastern United States,” said KMI’s President of Natural Gas Pipelines Tom Martin. “This is one of several RSG initiatives currently underway at Kinder Morgan and aligns with our commitment to minimize methane emissions associated with the production, transportation, storage and distribution of natural gas.”
“Southwestern believes responsibly sourced gas is foundational to a low carbon future. This innovative agreement with Kinder Morgan to deliver responsibly sourced energy to customers in the Northeast is evidence of our commitment to help bring about that future. We have been first movers in the RSG market, announcing earlier this year the certification and continuous monitoring of our entire existing and future Appalachia portfolio. This strategic agreement builds on that initiative and continues our efforts to provide cleaner energy to customers across the United States and beyond,” said Southwestern Energy President and Chief Executive Officer Bill Way.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the anticipated timing and benefits of the RSG program. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com.
About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swn.com/responsibility.
About Project Canary
Project Canary is an independent certification organization that measures, tracks, and delivers trusted ESG data across the energy value chain. They are the leaders in the rating and certification of responsible energy operating practices and provide science and technology-backed emission profiles via continuous monitoring hardware synced with a real-time dashboard. Project Canary Upstream (TrustWell) Certifications, Midstream Certifications, and Canary Continuous Monitoring help identify the most responsible energy supply chain operators. Formed as a Public Benefit Corporation, Project Canary’s team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards, including being named “Best for the World 2021” B Corp.
To learn more, visit projectcanary.com.
KINDER MORGAN CONTACTS
Katherine Hill
Senior Corporate Communications Specialist
(713) 469-9176
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Investor Relations
(800) 348-7320
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www.kindermorgan.com
SOUTHWESTERN ENERGY COMPANY CONTACTS
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Media Relations
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PROJECT CANARY COMPANY CONTACTS
Brian Miller
Vice President, Growth and Policy
(202) 669-3801
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LITTLE ROCK, Ark. & HOUSTON--(BUSINESS WIRE)--Windstream, a privately held communications and software company, today announced a retail renewable energy agreement with ENGIE Resources, a subsidiary of ENGIE North America. The five-year contract extends through 2026 under which Windstream will purchase electricity and Renewable Energy Credits from ENGIE’s Live Oak wind project in Texas. This renewable energy purchase matches 100% of Windstream’s forecasted electricity consumption at more than 400 Texas locations.
The renewable energy in this agreement represents the environmental benefits of eliminating the greenhouse gas emissions from 3,505 cars per year, or the carbon sequestered by 19,744 acres of U.S. forest annually over the course of the agreement.*
"We are delighted that the Live Oak wind project will play a major part in Windstream's renewable energy solution,” said David Carroll, chief renewables officer at ENGIE North America. “As an operator of more than 3 GW of renewable energy across North America alongside leading customer solutions businesses, we are committed to being at the forefront of the energy transition and are excited to collaborate with organizations such as Windstream to accelerate those efforts."
Windstream will also achieve budget certainty throughout the term of this agreement with a fixed price structure in a simple retail contract with flexible terms.
Renewable energy is an increasingly important part of Windstream’s environmental sustainability strategy and approach to reducing greenhouse gas emissions from electricity consumption. Windstream formally initiated its renewable and carbon-free energy program in 2020 with the signing of its first community solar project and has continued to source other renewable opportunities.
In 2020, approximately 34% of Windstream’s companywide purchased Scope 2 electricity, which powers network locations and data centers, came from renewable and carbon-free sources. Following the agreement with ENGIE Resources, approximately 44% of Windstream’s purchased Scope 2 electricity now comes from these sources. The company is working toward a goal of purchasing 50% of its Scope 2 electricity from renewable and carbon-free sources by 2025.
“Windstream is committed to environmental stewardship, and this agreement with ENGIE Resources is the latest step in our ongoing effort to reduce carbon emissions,” said Mark Reed, chief procurement officer for Windstream. “Renewable energy sources are key to driving down emissions. To contribute to this vital worldwide effort, our corporate sustainability program combines common-sense strategies with ambitious long-term initiatives to become more resource efficient, enabling us to make improvements while balancing the needs of our customers, employees, and owners.”
Serving as advisor on the agreement is Atlanta, Georgia, based Insight Sourcing Group’s Energy practice. ISG Enterprise Energy is a consulting practice focused on sustainability through strategic sourcing of renewables and execution of energy efficiency projects, working with senior executives and procurement leaders from corporate clients and private equity firms.
ENGIE North America is the developer, owner (in partnership with an affiliate of John Laing Group plc), and operator of the Live Oak wind project. Live Oak is a 200 MW project that is located near San Angelo, Texas. ENGIE North America has added nearly 2GW of renewable energy in the U.S., a major contribution to the global goal of 9GW from 2019-2021. Globally in 2020, ENGIE commissioned 3GW of new renewable capacity, bringing total renewable capacity portfolio to 31GW.
*EPA Greenhouse Gas Equivalencies Calculator
About Windstream
Windstream Holdings is a privately held communications and software company. Windstream offers managed communications services, including SD-WAN and UCaaS, and high-capacity bandwidth and transport services to businesses across the U.S. The company also provides premium broadband, entertainment and security services through an enhanced fiber network to consumers and small and midsize businesses primarily in rural areas in 18 states. Additional information is available at windstream.com or windstreamenterprise.com. Follow us on Twitter at @Windstream.
About ENGIE North America
ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100% of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE S.A. is a global reference in low-carbon energy and services, that relies on their key businesses (gas, renewable energy, services) to offer competitive solutions to customers. With 170,000 employees, customers, partners and stakeholders, the group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions.
Media Contacts:
Windstream: Scott Morris, This email address is being protected from spambots. You need JavaScript enabled to view it., (501) 748 5342
ENGIE North America: Sandrine Deparis, This email address is being protected from spambots. You need JavaScript enabled to view it., (202) 855 3705
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“New Fortress” or the “Company”) announced today that it has executed a term loan facility secured by eight Company vessels (the “Shipping Facility”). The Company made an initial borrowing of $430 million and can borrow up to $725 million under the Shipping Facility.
The Shipping Facility has a three-year term, and loans issued under the facility will bear interest at an annual rate equal to LIBOR plus 3.00%, subject to a 0.0% LIBOR floor. The Shipping Facility is prepayable at par at any time without penalty.
Net proceeds of the Shipping Facility will be used to fund the development and construction of the Company’s energy infrastructure projects around the world.
“We continue to execute the plan we previously laid out to facilitate our growth with asset-level financings. This facility provides additional capital for us to build additional LNG terminals and infrastructure around the world,” said New Fortress Chairman and CEO Wes Edens. “Our investments in LNG terminals and power infrastructure bring significant economic and environmental benefits to our expanding customer base.”
About New Fortress Energy
New Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” including the Company’s expected use of proceeds of the Shipping Facility to fund the development and construction of energy infrastructure projects around the world. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risk that we will be unable to develop and construct energy infrastructure projects around the world and the risk that our construction or commissioning schedules will take longer than we expect or will not be achieved. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company’s annual and quarterly reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement.
IR:
Joshua Kane
(516) 268-7455
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Media:
Jake Suski
(516) 268-7403
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DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer” or the “Company”) today announced the addition of Maria S. Jelescu Dreyfus to the Company’s Board of Directors.
Ms. Dreyfus is currently the Chief Investment Officer for Ardinall Investment Management, a New York based independent investment firm established in 2017. Ardinall has an ESG-based investment approach and focuses on climate change and sustainable investments. Prior to forming Ardinall, Ms. Dreyfus spent 15 years at Goldman Sachs, where she most recently served as Portfolio Manager and Managing Director for Goldman Sachs Investment Partners (GSIP). At GSIP Ms. Jelescu focused on energy, industrials, transportation and infrastructure investments in both public and private markets.
Ms. Dreyfus currently serves on the board of directors at Macquarie Infrastructure Corporation (NYSE: MIC), on the board of CDPQ (one of Canada’s largest pension plans) and on the advisory board of Eni Next (Eni SpA’s corporate venture arm). At Columbia University’s Center on Global Energy Policy, Ms. Jelescu serves as an advisory board member, executive committee member and as co-chair of the Women in Energy program. She also serves as a director on several private companies’ governing and advisory boards in the energy transition space (battery technologies, digitization and control technologies, etc.)
Additionally, Ms. Dreyfus is a member of the Massachusetts Institute of Technology’s (MIT) Corporation’s Development Committee and serves on the MIT Economics Department’s Visiting Committee. Ms. Jelescu has held her Chartered Financial Analyst designation since 2004 and holds a dual degree in economics and management science from MIT.
Pioneer Chief Executive Officer, Scott D. Sheffield stated, “We are excited to welcome Maria to the Pioneer Board of Directors. Maria’s extensive experience in energy and infrastructure, combined with her deep knowledge of environmental, social and governance (ESG) matters will further strengthen Pioneer’s ESG leadership position.”
Chairman of the Board, J. Kenneth Thompson added, “Maria’s deep background in finance, energy and ESG adds to our Board’s collective skill set and her expertise will help guide the company successfully through the global energy transition.”
Ms. Jelescu said, “What appeals to me about joining Pioneer’s Board of Directors is the shared belief that leadership means excellent performance in financial, operational and ESG matters. Pioneer continues to do impressive work, but it is not content with the status quo. I look forward to working with Pioneer’s management team as it continues to further solidify its leading role in the energy transition.”
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.
Cautionary Statement Regarding Forward-Looking Information
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release specifically include statements regarding the redemption. Forward-looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, global and U.S. economic activity, government regulation or action, Pioneer’s ability to implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to Pioneer’s credit facility, investment instruments and derivative contracts and purchasers of Pioneer’s oil, natural gas liquids and gas production, and acts of war or terrorism. These and other risks are described in Pioneer’s Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. In addition, Pioneer may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Pioneer undertakes no duty to publicly update these statements except as required by law.
Pioneer Natural Resources Company Contacts:
Investors
Neal Shah - 972-969-3900
Tom Fitter - 972-969-1821
Greg Wright – 972-969-1770
Media and Public Affairs
Tadd Owens - 972-969-5760
Volvo CE Battery-Electric Compact Excavator and Compact Wheel Loader are Viable Alternatives to Diesel Equipment for Fleets to Reduce Carbon Footprints
LOS ANGELES--(BUSINESS WIRE)--Volvo Construction Equipment (Volvo CE) announced today the results of a pilot project testing the ECR25 Electric compact excavator and L25 Electric compact wheel loader in North America. Remarks were provided at a press event in Los Angeles alongside officials from the U.S. Environmental Protection Agency, the South Coast Air Quality Management District (AQMD) and customers who tested the machines.
For nearly a year, Volvo CE has been testing its battery-powered ECR25 Electric compact excavator and L25 Electric compact wheel loader with multiple customers on jobsites in Southern California with the goal of accelerating the deployment of zero-emission technologies for off-road vehicles. Both machines are zero-emission solutions that meet the high-performance standards of construction customers in a variety of applications, as proven through the recent testing scenarios. An Environmental Protection Agency (EPA) grant administered by the South Coast AQMD provided funding for the project.
The pilot results come on the cusp of the company’s full roll-out of electric machines in these sizes, with customer deliveries of the ECR25 Electric expected in January 2022 and both units available throughout North America early in 2022. The company is the first to commercialize dedicated electric machines at the larger end of the compact size range.
“Our customer’s response to these machines validates that there is not only a desire for these types of machines in North America but a pull in many markets,” said Stephen Roy, President of Region North America, Volvo CE. “This just adds further momentum to the Volvo vision of offering machines that align with Science Based Targets and our overall commitment to decarbonization.”
Key learnings from the pilot
The pilot project confirms Volvo electric construction equipment matches performance and has significant benefits when compared to diesel machines in the same class.
“The California pilot project supports what we’ve seen on jobsites in Europe and elsewhere: our battery-electric compact excavator and compact wheel loader are viable alternatives to diesel equipment for construction fleets that want to reduce their carbon footprints,” said Melker Jernberg, President of Volvo CE. “Climate change is the biggest challenge of our time, we all have an important role to act, and by working together and collaborating we can reduce the amount of harmful emissions that are entering the atmosphere.”
Key findings:
Sustainability — Powered by lithium-ion batteries and producing zero emissions, the ECR25 and L25 compact electric machines proved themselves as environmentally sound options. They also allowed some of the customers to operate inside buildings and other structures where diesel exhaust is restricted.
Noise — There was significantly lower noise levels compared with diesel equipment, reducing noise pollution and improving jobsite communication and safety by making it easier for crew members to hear each other. The testers said the machines could allow them to work in sound-sensitive areas.
Performance — The Volvo electric machines have similar specifications to their diesel equivalents, and pilot project participants said that in practice the performance matched that of diesel machines. There also was positive feedback on the decreased maintenance needs of the electric machines, which don’t require maintenance items such as oil, oil filters and diesel particulate filters. The need for a diesel exhaust fluid (DEF) tank is also eliminated.
Charging — The project was an enabler for adaptations to the machines to make them compatible with the North American power grid. The higher current available on the U.S. power grid compared with Europe was found to be a benefit to charging. The Volvo CE pilot project confirmed the importance of having access to quality charging connections. However, traditional power sources aren’t always required. Baltic Sands, for example, installed a solar array for its work in the desert.
“These electric construction equipment produce no tailpipe emissions and protect the health of neighboring communities,” said EPA Pacific Southwest Air and Radiation Division Director Elizabeth Adams. “In order to attain the national air quality standards and fight climate change, we need to aim for vehicles and equipment that produce near-zero emissions.”
Pilot project partners
The L25 Electric compact wheel loader and ECR25 Electric compact excavator were used by four organizations in a variety of applications:
“Over the three months we tested, these machines performed exceptionally — matching what we would expect from a diesel machine of equal size but with no emissions,” said Jacques Marais, Director, Baltics Sands. “We are excited to be one of the early adopters in applying electric equipment to our business and I have a sincere belief that this is the future.”
Applying the learnings and Volvo CE future priorities
Volvo CE continues to compile data and will submit full reports on the project to the South Coast AQMD and EPA.
Volvo CE will apply the learnings to future research and development of battery-electric vehicles. Points of emphasis will be to continue to enhance the run times of machines, optimize the onboard charging systems and continue to explore alternative charging methods for jobsites without readily available access to charging stations.
Prebooking of the ECR25 Electric compact excavator and L25 Electric compact wheel loader for North American customers is open now for those who want to be among the first to own the machines when delivery begins in early 2022.
Additionally, Volvo CE will continue to develop the electrification of other sizes and types of machines.
Volvo CE is committed to developing electrification options and providing other more sustainable equipment across their entire line of products. To support this effort, Volvo CE will continue to pursue additional grant opportunities and strategic partnerships, such as the recently announced CEMEX collaboration, in their roadmap to provide sustainably powered construction equipment across North America.
The Volvo Group is one of the world's leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The Volvo Group, with its headquarters in Gothenburg employs about 95,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2016 the Volvo Group's net sales amounted to about SEK 302 billion (EUR 31,9 billion). The Volvo Group is a publicly held company. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone. |
Gregg Hennigan
Marketing Communications
Volvo Construction Equipment North America
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Phone: 515.557.2233
Dave Foster
Corporate Communications
Volvo Construction Equipment Americas
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Phone: 717.300.6104
Software industry veteran to lead Quorum’s global go-to-market strategy for transforming the business of energy through technology
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), the global software leader dedicated to the energy industry, today announced that Paul Langenbahn has been named President of Quorum Software. In this position, he will be responsible for worldwide customer-facing operations.
Earlier this year, Quorum merged with Aucerna, a global provider of integrated planning, execution, and reserves software for the energy industry. Operating as Quorum Software, the combined company recently acquired TietoEVRY’s Oil and Gas software business, including flagship solutions Energy Components and DaWinci. Together, the company now serves more than 1,800 energy customers across 55 countries.
“This year brought incredible growth for Quorum, and we are committed to bringing an incredible customer experience to energy companies worldwide,” said Gene Austin, Chief Executive Officer of Quorum Software. “Paul has an extensive background leading technology companies, especially when it comes to service, delivery, and support, and I look forward to having him guide Quorum in all aspects of how we advance our operations to empower customers to be successful.”
Most recently, Langenbahn was the Executive Vice President and President of the Commerce business unit of NCR Corporation, a global enterprise technology provider for the financial, retail, and hospitality industries. Before NCR, he served as the Executive Vice President and President of the hospitality division of Radiant Systems from 2007 until the company’s successful sale to NCR in 2011. Throughout his 25 years with Radiant and NCR, he held several senior leadership roles in general management, sales, and professional services.
“With years of leadership and innovation dedicated to energy, Quorum’s vision to transform the business of energy through technology is now accelerating at a global scale,” said Paul Langenbahn, President of Quorum Software. “I’m excited by the opportunity to work closely with Quorum’s 1,400 associates around the world as we deliver solutions that help our customers grow, transform and streamline their operations to meet the future energy needs of the planet.”
To learn more about Quorum, visit quorumsoftware.com.
About Quorum Software
Quorum Software connects people and information across the energy value chain. Twenty years ago, we built the first software for gas plant accountants. Pipeline operators came next, followed by land administrators, pumpers, and planners. Since 1998, Quorum has helped thousands of energy workers with business workflows that optimize profitability and growth. Our vision for the future connects the global energy ecosystem through cloud-first software, data standards, and integration. The trusted source of decision-ready data for 1,800+ companies, Quorum Software makes the essential connections that let us work better together in the connected energy workplace. For more information, visit quorumsoftware.com.
Adam Cormier
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617 502 4384
A fully integrated charger solution combines USB PD, PPS, PowiGaN and FluxLink to maximize efficiency and slash component count in adapters and chargers
SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced the InnoSwitch™3-PD family of ICs, the industry's most highly integrated solution for USB Type-C, USB Power Delivery (PD), and USB Programmable Power Supply (PPS) adapters. This compact InSOP™-24D-packaged IC includes a USB-C and PD controller, a high-voltage PowiGaN™ switch, a multi-mode quasi-resonant flyback controller, secondary-side sensing, FluxLink™ isolated digital feedback and a synchronous-rectification driver.
Aditya Kulkarni, senior product marketing engineer at Power Integrations said: “InnoSwitch3-PD ICs target designers seeking the ultimate in charger power density. This requires the highest level of integration and maximum efficiency to limit self-heating. Our latest addition to the InnoSwitch3 family dramatically simplifies the development and manufacturing of compact, energy-efficient USB PD power supplies for smartphones, tablets, notebooks, and other devices that benefit from fast charging. InnoSwitch3-PD ICs reduce the BOM count to half that of conventional designs, reducing design time and simplifying high-volume manufacture for slim, ultra-compact OEM and aftermarket chargers.”
Featuring no-load power consumption as low as 14 mW, power supply designs using InnoSwitch3-PD ICs meet all global energy-efficiency regulations. The high efficiency of these devices ensures low heat dissipation, eliminating the need for bulky heatsinks. Power Integrations’ FluxLink high-speed communications feedback link ensures fast, accurate secondary-side regulation. InnoSwitch3-PD ICs are also fully protected, with input voltage monitoring, accurate brown-in/brown-out and overvoltage protection, and output over- and under-voltage fault detection with independently configurable fault responses.
Note to editors: View a short video on the InnoSwitch3-PD here.
Availability & Resources
A new design report, RDR-838, describes a 60 W USB PD 3.0 Power Supply with 3.3 V – 21 V PPS output using the InnoSwitch3-PD PowiGaN-powered INN3879C-H801. The new InnoSwitch3-PD ICs are priced from $1.30 per unit in 10,000-unit quantities. For further information, contact a Power Integrations sales representative or one of the company’s authorized worldwide distributors: Digi-Key, Farnell, Mouser and RS Components.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information, please visit www.power.com.
Power Integrations, InnoSwitch, PowiGaN, FluxLink, InSOP and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc. All other trademarks are the property of their respective owner.
Media Contact
Nina Hurd
Power Integrations, Inc.
(408) 414-8785
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Press Agency Contact
Nick Foot
BWW Communications
+44-1491-636 393
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