Business Wire News

ISG Provider Lens™ report finds service providers helped utilities build work-from-anywhere and multichannel customer service platforms during lockdowns

STAMFORD, Conn.--(BUSINESS WIRE)--$III #CustomerInformationSystems--The COVID-19 pandemic triggered a new round of digital transformation at North America’s utilities, which were already modernizing and responding to climate-change challenges, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.


The 2021 ISG Provider LensUtilities Industry – Services and Solutions report for North America finds lockdowns and social-distancing requirements revealed new vulnerabilities in an industry that traditionally has focused on the risks of weather and natural disasters, the report says. In response, utilities broadened their digital transformation efforts to strengthen supply chains, workforce collaboration, customer service, cybersecurity and other aspects of the business.

“Enabling remote work and improving the customer experience are major steps in utility modernization,” said Bob Lutz, partner in ISG’s Energy and Utilities Industry vertical. “Successful players are making changes across the board to meet the new challenges.”

Providers of IT and digital transformation services have helped utilities respond to the pandemic by building agile work-from-anywhere models with enhanced cybersecurity and service continuity, the report says. They are also assisting in the development of digital customer service platforms for a more seamless multichannel customer experience that includes voice, text, chatbots, social media and in-person contact.

As utilities reduce their dependence on fossil fuels and adopt more wind, solar and other green sources of energy, the operating patterns of both transmission and distribution companies and system operators are changing, according to ISG. This requires them to implement a whole host of new technologies for supply and demand forecasting, situational awareness, automated demand response and other functions. Providers of digital transformation services are using their data management and data science expertise to help utilities develop these capabilities.

Both power and water utilities are rapidly modernizing their networks with smart meters, more sensors and automated outage prediction, the report says. These overhauls also include more advanced analytics, forecasting, modeling and optimization technologies, along with grid resiliency programs for more robust responses to low-probability tail events.

Modernizing customer service infrastructure is another major challenge utilities are taking on, ISG says. Replacing customer information systems (CIS) requires major investments of time and capital, as well as organizational change management to foster acceptance of the new technologies in this traditionally conservative sector. Service providers are helping utilities carry out these changes through training, tools, accelerators and execution frameworks that reduce the risks of CIS transformation.

The 2021 ISG Provider LensUtilities Industry – Services and Solutions report for North America evaluates the capabilities of 37 providers across five quadrants: Digital Transformation Services and Solutions – Large Accounts, Digital Transformation Services and Solutions – Midmarket, Intelligent Business Process Management Solutions, Next-Gen IT Services – Large Accounts, and Next-Gen IT Services - Midmarket.

The report names Accenture, Capgemini, Cognizant, IBM, Infosys, TCS and Wipro as Leaders in three quadrants. Atos, Birlasoft, CGI, EXL, HCL, LTI, Tech Mahindra and WNS are named as Leaders in two quadrants, and Alorica and Teleperformance are named as Leaders in one quadrant each.

In addition, Conduent and Softtek are named as Rising Stars—companies with a “promising portfolio” and “high future potential” by ISG’s definition—in one quadrant each.

Customized versions of the report are available from Infosys, LTI, Wipro and WNS.

The 2021 ISG Provider Lens Utilities Industry – Services and Solutions report for North America is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Germany, Switzerland, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.


Contacts

Will Thoretz, ISG
+1 203 517 3119
This email address is being protected from spambots. You need JavaScript enabled to view it.

Erik Arvidson, Matter Communications for ISG
+1 617 874 5214
This email address is being protected from spambots. You need JavaScript enabled to view it.

Technology enables digital transformation of offshore development project in Guyana

HOUSTON--(BUSINESS WIRE)--Regulatory News:


TechnipFMC (NYSE:FTI) and Halliburton Company (NYSE: HAL) today announced they received an OTC Spotlight on New Technology Award® (SONT) for their Odassea™ Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and qualifications.

We are excited to win OTC’s Spotlight Award and deploy Odassea™ in Payara, the industry’s largest subsea fiber optic sensing project,” said Trey Clark, vice president of Halliburton Wireline and Perforating. “By collaborating with TechnipFMC, we combine our sensing and subsea expertise to enhance reservoir insight and to lower the total cost of ownership for our customers.”

The Odassea™ service integrates hardware and digital systems to strengthen capabilities in subsea reservoir monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions. Through this collaboration, operators can accelerate full field subsea fiber optic sensing, design, and execution.

The Payara development, located 200 kilometers offshore Guyana in 1,800 meters water depth, is the third development within the Stabroek block with current discovered recoverable resources estimated at approximately 9 billion oil-equivalent barrels.

To win the SONT award and to help our client enable an enhanced level of reservoir understanding are great achievements,” said Christina Johansen, Senior Vice President of TechnipFMC Subsea Product Management. “Solutions such as Odassea™ transform our clients’ project economics and demonstrate how we are continuously driving change in the industry.”

TechnipFMC and Halliburton are delivering Odassea™ solutions to multiple other subsea projects at all stages, from conceptual design to execution.

###

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 50,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Category: UK regulatory


Contacts

For Halliburton

Investors:
Abu Zeya
Halliburton, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2633

Media:
William Fitzgerald
Halliburton, External Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
713-876-0105

For TechnipFMC

Investors:
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (TSX:SPB):


July 2021 Cash Dividend - $0.06 per share
Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of July 2021 of $0.06 per share payable on August 13, 2021. The record date is July 31, 2021 and the ex-dividend date will be July 29, 2021. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.

Upcoming Release of 2021 Second Quarter Results and Conference Call
Superior expects to release its 2021 second quarter results on Wednesday, August 11, 2021 after market close. A conference call and webcast to discuss the 2021 second quarter results is scheduled for 10:30 AM EDT on Thursday, August 12, 2021. To participate in the call, dial: 1-844-389-8661. Internet users can listen to the call live, or as an archived call, on Superior's website at: www.superiorplus.com under the Events section.

About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).

Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2020, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.


Contacts

Beth Summers, Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015

or

Rob Dorran, Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)

VALLEY FORGE, Pa.--(BUSINESS WIRE)--#EarningsCall--UGI Corporation (NYSE:UGI) will announce the results of its third fiscal quarter earnings after the market closes on August 4. The company will hold a live internet audio webcast of its conference call to discuss results and other current activities at 9:00 AM ET on Thursday, August 5.


Interested parties may listen to the audio webcast both live and in replay on the Internet at https://www.ugicorp.com/investors/financial-reports/events-and-presentations or by visiting the company website https://www.ugicorp.com and clicking on “Investors” and then “Events and Presentations.”

A telephonic replay will be available from 12:00 PM ET on August 5 through 11:59 PM ET August 12. The replay may be accessed toll free at 855-859-2056 and internationally at +1 404-537-3406, conference ID 7457165.

About UGI

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, including renewable natural gas, in twelve states and 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.


Contacts

CONTACT INVESTOR RELATIONS
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
Shelly Oates, ext. 3202

DUBLIN--(BUSINESS WIRE)--The "Inland Water Freight Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.


The global inland water freight transport market is expected to grow from $17.89 billion in 2020 to $18.66 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%.

Major players in the inland water freight transport market are American Commercial Barge Line; Ingram Barge, Kirby Inland Marine; American River Transportation; CMA CGM Group; McKeil Marine Limited; AP Moller - Maersk A/S; Rhenus Group and Imperial Logistics International.

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.29 billion in 2025 at a CAGR of 4.5%.

The inland water freight transport market consists of sales of inland water freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide inland water transportation of cargo on lakes, rivers, or intra-coastal waterways. Only goods and services traded between entities or sold to end consumers are included.

The development of information technology platforms for better vessel management is an emerging trend in the inland water freight transport market. According to the United Nations Conference on Trade and Development (UNCTAD) in 2019, about 80% of global trade by volume was carried by waterways with a fleet of 95402 ships. Information technology on ships is used for- fuel optimization and monitoring vessel performance, recognizing scanned copies and photos of documents, customer relationship management, warehouse management, and Que management system.

Few significant online apps and portals used for operations management on the ship are - BunkerEx, an online portal for ship owners helping in finding optimal bunker port; Nautilus Labs, takes data from sensors, manual reports, and market information to get a unified fleet intelligence picture; and Radiantfleet, with its software, helps in digitizing workflows, cut cost and improve budgeting. Therefore, the combination of digital and physical connectivity helps carriers and seaports to integrate their processes with shippers and track devices for containers and cargos.

The inland water freight transport market covered in this report is segmented by type of transportation into liquid bulk transportation; dry bulk transportation. It is also segmented by fuel into heavy fuel oil; diesel; biofuel; others and by vessel type into cargo ships; container ships; tankers; others.

Key Topics Covered:

1. Executive Summary

2. Inland Water Freight Transport Market Characteristics

3. Inland Water Freight Transport Market Trends and Strategies

4. Impact of COVID-19 on Inland Water Freight Transport

5. Inland Water Freight Transport Market Size and Growth

5.1. Global Inland Water Freight Transport Historic Market, 2015-2020, $ Billion

5.1.1. Drivers of the Market

5.1.2. Restraints on the Market

5.2. Global Inland Water Freight Transport Forecast Market, 2020-2025F, 2030F, $ Billion

5.2.1. Drivers of the Market

5.2.2. Restraints on the Market

6. Inland Water Freight Transport Market Segmentation

6.1. Global Inland Water Freight Transport Market, Segmentation by Type of Transportation, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Liquid Bulk Transportation
  • Dry Bulk Transportation

6.2. Global Inland Water Freight Transport Market, Segmentation by Fuel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Heavy Fuel Oil
  • Diesel
  • Biofuel
  • Others

6.3. Global Inland Water Freight Transport Market, Segmentation by Vessel Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Cargo Ships
  • Container Ships
  • Tankers
  • Others

7. Inland Water Freight Transport Market Regional and Country Analysis

7.1. Global Inland Water Freight Transport Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

7.2. Global Inland Water Freight Transport Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

Companies Mentioned

  • American Commercial Barge Line
  • Ingram Barge
  • Kirby Inland Marine
  • American River Transportation
  • CMA CGM Group
  • McKeil Marine Limited
  • AP Moller - Maersk A/S
  • Rhenus Group
  • Rhenus Group
  • Imperial Logistics International

For more information about this report visit https://www.researchandmarkets.com/r/dto3mh


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Technology enables digital transformation of offshore development project in Guyana

HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) and Halliburton Company (NYSE: HAL) today announced they received an OTC Spotlight on New Technology Award® (SONT) for their Odassea™ Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and qualifications.


We are excited to win OTC’s Spotlight Award and deploy Odassea™ in Payara, the industry’s largest subsea fiber optic sensing project,” said Trey Clark, vice president of Halliburton Wireline and Perforating. “By collaborating with TechnipFMC, we combine our sensing and subsea expertise to enhance reservoir insight and to lower the total cost of ownership for our customers.”

The Odassea™ service integrates hardware and digital systems to strengthen capabilities in subsea reservoir monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions. Through this collaboration, operators can accelerate full field subsea fiber optic sensing, design, and execution.

The Payara development, located 200 kilometers offshore Guyana in 1,800 meters water depth, is the third development within the Stabroek block with current discovered recoverable resources estimated at approximately 9 billion oil-equivalent barrels.

To win the SONT award and to help our client enable an enhanced level of reservoir understanding are great achievements,” said Christina Johansen, Senior Vice President of TechnipFMC Subsea Product Management. “Solutions such as Odassea™ transform our clients’ project economics and demonstrate how we are continuously driving change in the industry.”

TechnipFMC and Halliburton are delivering Odassea™ solutions to multiple other subsea projects at all stages, from conceptual design to execution.

###

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 50,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.


Contacts

For Halliburton

Investors:
Abu Zeya
Halliburton, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2633

Media:
William Fitzgerald
Halliburton, External Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
713-876-0105

For TechnipFMC

Investors:
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

EnterSolar and all EDF Renewables North America onsite activities regrouped as PowerFlex to create a one-stop-shop for businesses looking to transition to clean energy with solar, storage and electric vehicle charging

SAN DIEGO--(BUSINESS WIRE)--#cleanenergy--EDF Renewables North America today announced that its PowerFlex subsidiary has expanded its offerings to provide customers with a complete product suite that now includes onsite solar, in addition to its existing offerings of battery storage, electric vehicle charging, microgrids, and energy management systems. To enable this expansion, EnterSolar, another EDF Renewables subsidiary, will use the PowerFlex brand and bring its 15-year track record of providing behind-the-meter solar solutions for corporate clients. PowerFlex is now a one-of-a-kind provider that offers turnkey solutions for a comprehensive range of onsite energy needs.



By consolidating the full suite of Corporate and Industrial (C&I) energy solutions under one roof, PowerFlex allows customers to purchase a standalone product or bundled package that saves energy costs while reducing their carbon footprint. Thanks to its proprietary software, PowerFlex can provide customer-focused onsite renewable infrastructure that expands and grows with a client’s needs over time.

PowerFlex now has a combined track record that includes 400+ MW of commercial solar installed; 40+ MWh of onsite storage in operation, construction or contracted; more than 6,000 smart EV charging stations installed; and several microgrids contracted for installation this year. Products include an integrated Energy Management System (EMS) that utilizes real-time data to make critical decisions that optimize energy savings for our customers.

“We laid out our vision for integrated distributed energy in 2015, when EDF Renewables started to expand into distributed solar,” said Raphael Declercq, Executive Vice President, EDF Renewables Distributed Solutions. “Our offerings were broadened to commercial and industrial customers with the acquisition of EnterSolar, and now we are uniquely positioned to offer our customers a one-stop-shop solution for all their onsite clean energy needs.”

From system design and engineering, to project financing and post-installation asset management, PowerFlex’s seasoned team makes integrating renewable energy systems easy from start to finish.

Declercq continues, “As the demand for flexible clean energy solutions grows, it is a natural evolution to consolidate the skills and talents we have on our team. Our expertise now spans from software development to project construction and operations.”

The PowerFlex team is committed to serving clients turnkey solutions for their onsite energy needs and providing customers with a seamless and profitable transition to clean energy.

About PowerFlex:

PowerFlex delivers commercial and industrial customers a full range of turnkey clean energy solutions: solar, storage, smart EV charging, microgrids, and energy management systems. The Company was founded in 2017 by a Caltech research group who developed a patented Adaptive Load Management (ALM) technology to optimize power consumption across a large network of charging stations. PowerFlex Systems was acquired by EDF Renewables North America in 2019, and consolidated with EnterSolar, a leading commercial solar developer, in 2021 to expand its onsite solar offerings. For more information, visit www.powerflex.com. Connect with us on LinkedIn, Facebook and Twitter.

EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar and storage; and asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects. The Company’s PowerFlex subsidiary offers a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 20 GW of developed projects and 13 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.


Contacts

Sandi Briner, +1 858-521-3525
This email address is being protected from spambots. You need JavaScript enabled to view it.

Enriching Subsurface Digital Twins through Electromagnetic Remote Sensing for Water, Environmental, and Infrastructure Resilience

EXTON, Pa.--(BUSINESS WIRE)--Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that its Seequent business unit has acquired Danish company Aarhus GeoSoftware, a developer of geophysical software. The acquisition extends Seequent’s solutions for operational ground water management, and for sustainability projects involving exploration, contaminants, and infrastructure resilience.



Aarhus GeoSoftware, a spinoff company from Aarhus University in Denmark, develops the software packages AGS Workbench, SPIA, Res2DInv, and Res3DInv for the processing, inversion, and visualization of geophysical data from ground-based and airborne electromagnetic (EM), electrical resistivity tomography (ERT) remote sensing, and other sources. AGS software enables users to create 2D and 3D images of subsurface electrical resistivity. The outputs of the software can be used to distinguish and differentiate subsurface materials and can subsequently be modeled in Seequent’s Leapfrog to aid in various subsurface investigations.

The software uses electric field measurements, collected at ground level or with airborne sensors, to map the subsurface distribution of certain materials such as water, mineral deposits, and clays. Electrical resistivity allows a better understanding of the distribution of materials such as water, mineral deposits, and clays, and when the water contains other compounds such as salt, researchers and industry professionals can infer the distribution.

The genesis of AGS software was to ensure clean drinking water for future generations by mapping groundwater across Denmark. It is now used in many different areas, including locating subsurface faults and cavities to mitigate construction risk, in mining for investigating orebodies and waste rock and tailing processes, monitoring movements of groundwater and contaminants to help understand environmental impacts, modeling dam and tunnel stability, and assessing landslide risk to gauge asset resilience or construction plan impacts. Seequent will continue its tradition of collaborating with universities and research organizations worldwide through ongoing engagement with Aarhus University for the development of AGS geophysical solutions.

Graham Grant, chief executive officer of Seequent, said, “The acquisition will add new geophysical data processing capabilities to our workflows to help advance subsurface investigation and modeling. AGS software, coupled with Seequent’s advanced geologic modeling and analysis software, creates a key tool in helping understand and manage groundwater and assessing risk in infrastructure such as dams and canals. We’re excited about the new possibilities this opens up for our collective users worldwide, improving life-time digital twins.”

Toke Højbjerg Søltoft, chief executive officer of Aarhus GeoSoftware, said, “Seequent’s global reach will allow AGS software to positively impact more projects worldwide. As we continue to develop solutions, our users will benefit from our tools being in Seequent’s ecosystem and workflow. We’re excited to join Seequent and to work together on our shared vision of helping organizations make more informed and sustainable decisions through a better understanding of the subsurface.”

For more information, please visit https://www.aarhusgeosoftware.dk/.

Image 1: https://www.bentley.com/-/media/Images/Press%20Release%20Images/2021/Aarhus_Workbench

Caption: AGS Workbench is a comprehensive software package for processing, inversion, and visualization of geophysical and geological data. The AGS Workbench package is based on a GIS interface and includes dedicated data processing modules for various geophysical data types. The package integrates all workflow steps from processing the raw data to the final visualization and interpretation of the inversion models.

Image 2: https://www.bentley.com/-/media/Images/Press%20Release%20Images/2021/Aarhus_Workbench_TEM_Workflow

Caption: Airborne Electromagnetic (AEM) remote sensing is used to collect extensive volumes of data from an aircraft. A sensor loop below a helicopter or small plane transmits an electromagnetic signal to the earth. Based on the subsurface properties, a secondary field is created and measured at the aircraft. These data are then processed to estimate subsurface electrical properties. The AGS Workbench software is used for processing, inversion, and visualization of the data collected by AEM and other geophysical methods.

Airborne Electromagnetic (AEM) remote sensing uses electromagnetic induction to collect extensive volumes of data from an aircraft. It is a fast and cost-effective way of subsurface mapping, can cover large areas (10s-1000s of km2) in a few days, requires no new drilling or ground access, and, using 3D modeling and visualization software, has a quick turnaround for mapping the subsurface.

The technique involves a helicopter or a small airplane towing a sensor loop approximately 100 feet (30 meters) above the ground. This generates an electromagnetic signal transmitted into the earth based on the subsurface properties, thereby a secondary field is created and measured at the aircraft. These data are then processed to estimate subsurface electrical properties. Depending on resistivity or conductivity, the returned signal helps geoscientists establish the nature of the subsurface.

Image 3: https://www.bentley.com/-/media/Images/Press%20Release%20Images/2021/AEM_slice

Caption: Sensing data processed and inverted in AGS Workbench software can then be combined in Seequent’s Leapfrog Works to create a 3D model that gives a detailed overview of resources. The above image is a hydrogeological map of the subsurface of the Principal Aquifer (and parts of the Ogallala Aquifer) in Nebraska, United States. Airborne Electromagnetic (AEM) remote sensing was used to capture data from the 4,000-square-mile study area. The color-coded volumes represent eight resistivity categories. Higher resistivity values are represented as yellow to red (sand and gravel), lower resistivity values are represented as blue to green (clay and silt), and brown represents bedrock.

About Seequent

Seequent, a Bentley company, is a world leader in the development of powerful geoscience analysis, modeling, and collaborative technologies for understanding geoscience and engineering design solutions. Our solutions enable people to analyze complex data, manage risk, and ultimately make better decisions about earth, environment, and energy challenges.

Seequent software is used on large-scale projects globally, including road and rail tunnel construction, groundwater detection and management, geothermal exploration, subsea infrastructure mapping, resource evaluation, and subterranean storage of spent nuclear fuel.

Seequent’s global footprint includes its Christchurch-based HQ and R&D centers in Christchurch and Canada, with a network of offices across Asia/Pacific, Africa, South America, North America, and Europe servicing organizations with leading subsurface solutions in over 100 countries. For more information, please visit www.seequent.com or follow Seequent on LinkedIn or Twitter.

About Bentley Systems

Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals, and organizations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,000 colleagues and generates annual revenues of more than $800 million in 172 countries. www.bentley.com

© 2021 Bentley Systems, Incorporated. Bentley, the Bentley logo, AGS Workbench, AssetWise, iTwin, Leapfrog, MicroStation, ProjectWise, Res2DInv, Res3DInv, Seequent, and SPIA are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries. All other brands and product names are trademarks of their respective owners.


Contacts

Press Contact:
Christine Byrne
+1 203 805 0432
This email address is being protected from spambots. You need JavaScript enabled to view it.

Follow us on Twitter:
@BentleySystems

  • Phil Schellhorn is promoted to Chief Underwriting Officer
  • Yvonne Poster to join as Chief Financial Officer

WILTON, Conn.--(BUSINESS WIRE)--Signal Mutual, the premier provider of Longshore benefits in the United States, has announced that Justin Gardner has been appointed as Chief Executive Officer (CEO). Justin recently served as Executive Vice President (EVP) and Chief Underwriting Officer and prior to that was an EVP at Willis Re.


As part of the company’s succession plan, Justin will replace Richard Wood, who will continue to serve in an advisory capacity as a Director on Signal’s Board and as CEO of Charles Taylor Insurance Management, maintaining oversight of Charles Taylor’s end-to-end management of insurance programs and its activities and affairs with Signal Mutual.

The company also announced that Phil Schellhorn will assume the role of Chief Underwriting Officer, and Yvonne Poster will join the firm as Chief Financial Officer, both based in Wilton, CT. Phil previously served as Vice President of Underwriting and Member Services for Signal. Yvonne comes from AmTrust Financial Services where she served as the Global Head of Finance Transformation.

Tom Godfrey, Signal Mutual’s Chairman of the Board added, “Signal Mutual has enjoyed over 35 years of remarkable success as the leader in the US Longshore market, much attributed to our superb management team. The Board is excited to congratulate Justin and Phil on their promotions and welcome Yvonne into her new role as CFO. We also gratefully recognize Richard Wood’s twenty years of brilliant work and dedication on behalf of the Mutual.”

About Justin Gardner

Justin joined Signal in 2017 as Executive Vice President and Chief Underwriting Officer. He has twenty-five years of experience in the insurance market—both as a senior underwriter and reinsurance broker. Prior to joining Signal, Justin was Executive Vice President and Head of U.S. Specialty for Willis Re. He also worked at General Reinsurance Corporation for twenty-two years, where he served as Global Ocean Marine Manager and Chief Underwriting Officer.

About Phil Schellhorn

Phil is one of four underwriters at Signal and serves as an Account Executive for Members across the US, ensuring appropriate services are coordinated and delivered to Members of the Association. Additionally, Phil manages the relationship with Mutual’s State Act Companion Program carrier and the development of new product offerings for Signal Members. Phil has nearly 15 years of (re)insurance industry experience and is focused primarily on working with Members and Prospects from the US Great Lakes to the Mid-Atlantic and Northeast.

About Yvonne Poster

Yvonne is a financial executive and CFO/Controller with broad international expertise in the Mutual and Commercial insurance and reinsurance industries. She has over 30 years of experience within the insurance market and a track record of building and managing strong finance teams, partnering with CEOs of growing business units, and leading large finance transformation initiatives. Most recently, Yvonne served as Global Head of Financial Transformation for AmTrust Financial Services, where she led a variety of global systems transformation projects as well as the enterprise financial systems team.

About Signal Mutual

Signal Mutual Indemnity Association Ltd. is the largest self-insured group provider of Longshore benefits in the United States. The Association's Membership is drawn from a broad range of employers throughout the country in the stevedoring, ship repair, and offshore industries. Signal is dedicated to the service and support of these employer Members, who own the Mutual. Signal is a Bermuda domiciled, non-profit mutual organization, authorized by the Department of Labor as a Group Self-Insurer.

About Charles Taylor

Charles Taylor provides insurance services, claims solutions and technology platforms to all parties across the global insurance market. Its technical expertise, technological tools and breadth of solutions enable its clients to outperform, by addressing complexities and challenges across every stage and aspect of the insurance lifecycle and operating model.

Charles Taylor employs approximately 3,100 staff in more than 120 locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa. It has earned the trust of a diversified, blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd's syndicates and reinsurers, along with brokers, distributors and corporate insureds.

Charles Taylor has been the manager of Signal Mutual since the inception of the mutual in 1986.


Contacts

Prosek Partners
Ph: 858-373-7052
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a 183-day extension to its contract with Aramco for VALARIS JU-140, a standard-duty modern jackup. The extension is in direct continuation of the existing contract and, as a result, the VALARIS JU-140 is now expected to be under contract through the end of 2021.


About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

Cautionary Statements

Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.


Contacts

Investor & Media Contact:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Inc.’s (TSX: EMA) latest sustainability report, now available on the company’s website, highlights its 2020 progress toward achieving its Climate Commitment – a set of future-focused carbon reductions goals and a vision to achieve net-zero CO2 emissions by 2050.

Decarbonization has been central to Emera’s strategy for more than 15 years and the 2020 Emera Sustainability Report highlights our ongoing investment in cleaner, more reliable energy as we work toward our vision to achieve net-zero CO2 emissions by 2050. It also outlines our continued support for our communities with $16 million contributed in 2020, with $6 million directed toward COVID-19 relief efforts. We’re also focused on supporting diversity, equity and inclusion at all levels of our business and in our communities.


“ESG is core to strategy, culture and day to day operations at Emera,” Scott Balfour, President and CEO, Emera Inc. “And in many ways, our response to the pandemic has reinforced the strength and resiliency of our business, our strategy and our team.”

This year’s sustainability report highlights Emera’s continued commitment to delivering cleaner and renewable energy, while remaining focused on customer affordability and reliability. It also includes updates on other critical areas of the business including safety and Emera’s ongoing response to the COVID-19 pandemic.

Emera is also making progress on its Diversity, Equity and Inclusion strategy, strengthening its commitment to strong, diverse and inclusive workplaces and communities. The Company has focused on education, recruitment and data collection to drive its approach. In 2020, Emera also established a $5 million fund to support community initiatives to advance inclusion and diversity.

In addition to the oversight provided by Emera’s Board of Directors, in 2020 the Company also established a Sustainability Management Committee, chaired by the CEO and comprised of senior leaders from across the business. The committee oversees ESG initiatives, risks and opportunities across the company.

As with previous reports, no hard copies of the report will be printed in an effort to reduce waste. You can view, download or print the report here.

About Emera

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H and EMA.PR.J. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.


Contacts

Media:
Dina Seely
902-428-6951
This email address is being protected from spambots. You need JavaScript enabled to view it.

BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) announces the appointment of David Ciesinski to the Essential board of directors. Ciesinski will serve as a member of the audit and the corporate governance committees of the board.



Ciesinski is the president, CEO and director of Lancaster Colony Corporation and the president of T. Marzetti Company where he has rebuilt the company leadership team and led the development and implementation of the company’s growth plan, which has consistently delivered top-quartile financial results and world-class workplace safety results.

After a national search for a new director, the experience and expertise that Dave will bring to the Essential board is clear. He will be an excellent representative of the shareholders in guiding the company, particularly in matters of growth and branding. Dave’s experience in growth through acquisition will add value as we continue to execute our long-term growth strategy,” said Essential Chairman and CEO Christopher Franklin.

Prior to his appointment at T. Marzetti, Ciesinski was the EVP and president of Kraft’s Meal Solutions division, where he oversaw the turnaround of the division and the revitalization and launch of brands. He is a West Point graduate and a veteran of the U.S. Army with service during the first Gulf War in Iraq, where he earned a Bronze Star Medal. Ciesinski also earned a master’s degree in marketing and finance from the Tepper School of Business at Carnegie Mellon University.

About Essential

Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.

Forward-looking statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others: the company’s role in the United States’ infrastructure investments; its ability to be an industry leader in protecting the environment; the guidance range of adjusted income per diluted common share for the fiscal year ending in 2021; the 3-year earnings growth from 2021 to 2023; the projected total regulated water segment customer growth for 2021; the anticipated amount of capital investment in 2021; the anticipated amount of capital investment from 2021 through 2023; and the company’s anticipated rate base growth from 2021 through 2023. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: disruptions in the global economy; financial and workforce impacts from the COVID-19 pandemic; the continuation of the company's growth-through-acquisition program; the company’s continued ability to adapt itself for the future and build value by fully optimizing company assets; general economic business conditions; the company’s ability to fund needed infrastructure; housing and customer growth trends; unfavorable weather conditions; the success of certain cost-containment initiatives; changes in regulations or regulatory treatment; availability and access to capital; the cost of capital; disruptions in the credit markets; the success of growth initiatives; the company’s ability to successfully close municipally owned systems presently under agreement; the company’s ability to continue to deliver strong results; the company’s ability to continue to pay its dividend, add shareholder value and grow earnings; municipalities’ willingness to privatize their water and/or wastewater utilities; the company’s ability to control expenses and create and maintain efficiencies; the company’s ability to acquire municipally owned water and wastewater systems listed in its “pipeline”; and other factors discussed in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which are filed with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with Essential's business, please refer to Essential's annual, quarterly and other SEC filings. Essential is not under any obligation - and expressly disclaims any such obligation - to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

WTRGG


Contacts

Brian Dingerdissen
Essential Utilities Inc.
Investor Relations
O: 610.645.1191
This email address is being protected from spambots. You need JavaScript enabled to view it.

Erin O’Donnell
Communications and Marketing
412.208.6614
This email address is being protected from spambots. You need JavaScript enabled to view it.

Collaborative program educates the 6th Military Fire Brigade on the benefits of deploying PV safe solar with Tigo Energy rapid shutdown.

CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced a program to train firefighters on the basics of solar energy and the benefits of rapid shutdown as the residential and small commercial markets take off throughout Brazil. The initial training session in Camp Grande, Mato Grosso do Sul, covered all aspects of solar equipment selection, installation, and safety over a four-day period from June 15-18, 2021.


"The idea is to take this informational program to as many firefighters as possible, training them on the benefits of residential solar while warning them of the risks without adequate safety legislation," explains Manoel Monteiro, sales manager at Tigo. “While the United States has the National Electric Code to protect first responders, firefighters such as those in the 6th Military Fire Brigade must understand how to safely deal with solar in our neighborhoods.”

Tigo’s solar industry leading Flex MLPE (Module Level Power Electronics) gives installers the freedom to choose their preferred inverters and panels along with the right features for optimized, monitored and PV safe systems. All members of the TS4-A family of products provide the rapid shutdown feature, which is critical for PV safe systems. On a typical string inverter system, the DC conductors remain live as long as the sun is shining, even if the inverter is disabled. This means that the system will still have the high voltage of up to 600V to 1000V, impacting safety for first responders in the event of an emergency. Rapid shutdown was invented to lower the voltage in the DC system conductors to 30 volts or less within 30 seconds of rapid shutdown initiation. While a regulatory requirement in the United States and the Philippines, rapid shutdown is currently optional in other regions around the world.

“The 6th Military Fire Brigade of the Military Fire Department of Mato Grosso do Sul would like to express our appreciation to Manoel and the Tigo team,” stated Lieutenant Colonel BM Danilo Santos Moreira Leite. “This training greatly contributed to a better understanding of the operation and possible risks, as an increased number of homes and businesses install solar. With this knowledge, we can avoid submitting our military firefighters to unnecessary danger as we help the community.”

To learn more about rapid shutdown and Tigo products sold in Brazil and around the world, please attend one of the many Tigo Energy webinars, found at https://www.tigoenergy.com/webinars.

About Tigo Energy

Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.


Contacts

Media Contact for Tigo in Brazil
Manoel Monteiro
This email address is being protected from spambots. You need JavaScript enabled to view it.

Technology enables digital transformation of offshore development project in Guyana

HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) and Halliburton Company (NYSE: HAL) today announced they received an OTC Spotlight on New Technology Award® (SONT) for their OdasseaTM Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and qualifications.


We are excited to win OTC’s Spotlight Award and deploy Odassea™ in Payara, the industry’s largest subsea fiber optic sensing project,” said Trey Clark, vice president of Halliburton Wireline and Perforating. “By collaborating with TechnipFMC, we combine our sensing and subsea expertise to enhance reservoir insight and to lower the total cost of ownership for our customers.”

The Odassea™ service integrates hardware and digital systems to strengthen capabilities in subsea reservoir monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions. Through this collaboration, operators can accelerate full field subsea fiber optic sensing, design, and execution.

The Payara development, located 200 kilometers offshore Guyana in 1,800 meters water depth, is the third development within the Stabroek block with current discovered recoverable resources estimated at approximately 9 billion oil-equivalent barrels.

To win the SONT award and to help our client enable an enhanced level of reservoir understanding are great achievements,” said Christina Johansen, senior vice president of TechnipFMC Subsea Product Management. “Solutions such as Odassea™ transform our clients’ project economics and demonstrate how we are continuously driving change in the industry.”

TechnipFMC and Halliburton are delivering Odassea™ solutions to multiple other subsea projects at all stages from conceptual design to execution.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.


Contacts

For Halliburton

Investors:
Abu Zeya
Halliburton, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2633

Media:
William Fitzgerald
Halliburton, External Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
713-876-0105

For TechnipFMC

Investors:
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

MINNEAPOLIS--(BUSINESS WIRE)--On Thursday, July 29, 2021, Xcel Energy (NASDAQ: XEL) will host a conference call to review second quarter 2021 financial results. Earnings will be released prior to the opening of trading.


The call will begin at 9:00 a.m. Central Time. To participate in the conference call, please dial in at least 5-10 minutes prior to the scheduled start and follow the operator’s instructions. You will be asked for the conference ID number.

US Dial-In: 888-204-4368
International Dial-In: 400-120-9101
Conference ID: 9915304

The conference call will also be simultaneously broadcast and archived on our website, along with an MP3 download, at the following location:

http://www.xcelenergy.com
Under Company, select: Investors

If you are unable to participate in the live event, the call will be available for replay from 12:00 p.m. on July 29 through 12:00 p.m. on August 1, Central Time.

Replay Numbers
US Dial-In: 888-203-1112
International Dial-In: 719-457-0820
Replay Passcode: 9915304

Financial analysts may call:
Paul Johnson, Vice President - Treasurer & Investor Relations 612-215-4535

News media inquiries please call Xcel Energy Media Relations at 612-215-5300.
Internet: www.xcelenergy.com

About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.


Contacts

Xcel Energy Media Relations
(612) 215-5300
www.xcelenergy.com

HOUSTON--(BUSINESS WIRE)--BP Prudhoe Bay Royalty Trust (NYSE: BPT) announces that unitholders will receive a dividend for the quarter ended June 30, 2021. The dividend information is as follows:

Ex-Dividend Date:

July 14, 2021

Record Date:

July 15, 2021

Payable Date:

July 20, 2021

 

Dividend Rate:

$0.0243678 per Unit*

*Actual average daily production for the quarter was 70,857 BBLS.

As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes. As discussed in Item 1A "RISK FACTORS", of the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, on January 1, 2021, the "break-even" WTI price (the price at which all taxes and prescribed deductions are equal to the WTI price) for the Trust to receive a positive Per Barrel Royalty with respect to a particular day’s production was $60.72. The average daily closing WTI price was above the "break-even" point for the quarter, resulting in a quarterly payment with respect to the Royalty Interest of approximately $3.2 million to the Trust. In accordance with the Trust Agreement, the Trustee will pay all accrued expenses of the Trust, then distribute the excess, if any, of the cash received by the Trust over the Trust’s expenses, net of any additions to the cash reserve established for the payment of estimated liabilities before making a quarterly distribution to unit holders. After paying the Trust’s expenses accrued through June 30, 2021 and making an addition to the cash reserve of approximately $1.58 million, approximately $521,000 is available for distribution to unitholders. The amount added to the cash reserve takes into account that the Trust has not received any Royalty Payments attributable to 2020 or the first quarter of 2021 and therefore has been unable to make any additions to the cash reserve for the last five quarters, the increase in Trust administrative expenses and the expected expenses associated with the termination of the Trust. The Trustee continues to evaluate the adequacy of the cash reserve and may need to increase the amount of the cash reserve further in the future.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, the Trust’s subsequent Quarterly Reports on Form 10-Q, and the Trust’s other filings with the Securities and Exchange Commission. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov. Neither the Trust nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release.

Please feel free to contact Elaina Rodgers at The Bank of New York Mellon Trust Company, N.A. at 713-483-6020 with any questions.


Contacts

The Bank of New York Mellon Trust Company, N.A.
Elaina Rodgers
713-483-6020

Funding enables expansion of its manufacturing supply chain at commercial scale

VANCOUVER, British Columbia--(BUSINESS WIRE)--#carboncapture--Svante Inc. announced that the Government of Canada made a CDN$25 million investment to support the industrialization and commercialization of its novel low-cost carbon capture technology within the North American market. Carbon capture is a technology that can recover up to 95% of the carbon dioxide (CO2) emissions produced from the use of fossil fuels in electricity generation and industrial processes, preventing the carbon dioxide from entering the atmosphere.



The investment announced today comes from the Strategic Innovation Fund’s Net Zero Accelerator initiative and aligns with Government of Canada’s strengthened climate plan – A Healthy Environment and a Healthy Economy, which will help Canada achieve its economic and environmental goals.

With this investment, Svante will set-up a new Centre of Excellence for Carbon Capture Use and Storage (CCUS) in Vancouver, BC that will allow the company to scale up its manufacturing operations to produce commercial scale structured absorbent filters and to test its proprietary rapid adsorption machine (RAM) designs.

“We are keen to partner with Canadian companies like Svante that are creating clean technologies that will help key industries around the world, including in Canada, significantly cut down their greenhouse gas emissions. This project will create good jobs in Burnaby and Vancouver in clean technologies, and it will grow Canada’s leadership in this increasingly important sector of our economy,” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.

“Vancouver is the Silicon-Valley of carbon capture technology development and we are very proud to anchor our World Headquarter, R&D and Engineering test center, and first commercial filter manufacturing plant in Canada,” said Claude Letourneau, President & CEO from Svante Inc. “Lowering the capital cost of the capture of the CO2 emitted in industrial production is critical to the world’s net-zero carbon goals required to stabilize the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy carbon capture and carbon removal solutions at Gigatons scale. The carbon pulled from earth as fossil fuel needs to go back into the earth in safe CO2 storage.”

Decarbonization of unavoidable emissions by heavy industries, such as cement, limestone and large-scale hydrogen production, will require significant deployment of point-source carbon capture projects over the next decade. Svante innovative net-zero solution will capture CO2, concentrate it, and release it for safe storage or industrial use, all in 60 seconds, by using nano materials called “solid sorbent”. Svante is expected to be the first industrial point-source carbon capture technology provider using solid sorbents to expand its manufacturing supply chain at commercial scale within the North American market. The filter manufacturing plant will have an annual capacity to delivery filter modules capable of removing 3 million tonnes of CO2 per year or the equivalent of project delivery of 3 world-scale carbon capture plants of 1 million tonnes per year.

Svante has now attracted more than USD$195 million in funding since it was founded in 2007 to develop and commercialize its breakthrough solid sorbent technology at half the capital cost of traditional engineered solutions. Its technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO2MENT Pilot Plant Project – a partnership between LafargeHolcim and TOTAL S.A. – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.

About Svante

Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s Board of Directors includes Nobel Laureate and former Secretary of Energy, Steven Chu, Chairman Steven Berkenfeld former Head of Industrial & Cleantech Practice at Barclays Capital, and CEO of OGCI Climate Investments Pratima Rangarajan. To learn more about Svante’s technology, click here or visit Svante’s website at www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).


Contacts

Svante
Julia McKenna
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (778) 985 5722

ISTANBUL--(BUSINESS WIRE)--In line with the target of meeting its electricity demand from renewables by 2030 and becoming a carbon neutral company by 2050, Turkcell (NYSE:TKC) (BIST:TCELL) has signed a share transfer agreement to acquire Boyut Grup Enerji, which owns the İzmir Karadağ Wind Power Plant. The transfer of shares is subject to the approval of respective authorities and fulfillment of various conditions precedent.

Turkcell CEO Murat Erkan stated the following in relation to the Karadağ Wind Power Plant acquisition:

“In line with our sustainability approach, we continue to lead investments in renewable energy and target to become a company meeting its electricity need from eco-friendly resources. In accordance with this target, the energy we generated with the self-consumption model in 2020 reached a level equivalent to the annual consumption of 1,230 residences. In Northern Cyprus, Turkcell Group’s first solar power plant generates 1.2 million kWh of electricity annually and prevents 448 tons of carbon dioxide emissions. Meanwhile, the Ankara Data Center, the first in Turkey to generate its own energy via solar panels, produces 300,000 kWh of electricity annually. Furthermore, through solar power investments in our Adana Plaza, Diyarbakır Plaza and Çorlu Data Center, we have reached the capacity to generate 730,000 kWh of energy annually. Going forward, we will continue to invest in projects with respect to renewable energy generation.”

Murat Erkan pointed out the high production efficiency of Karadağ Wind Power Plant, and that this acquisition would contribute to Turkcell’s focus on sustainability and minimize its environmental footprint.

Erkan stated that the power plant commenced operations in 2016 holding a license that will expire in 2057, and concluded that:

“Turkcell Enerji, operating under the Enerjicell brand, serves individual and corporate customers in Turkey, who are eligible to choose their own electricity suppliers. In addition to our investments in renewable energy and power plants, we also continue to utilize eco-friendly methods through trading with green energy companies. Going forward, we will continue to invest in renewable energy through Turkcell Enerji Çözümleri and make Turkcell a carbon neutral company that uses electricity generated from eco-friendly resources.”

For the acquisition of Boyut Grup Enerji, an enterprise value (EV) of US$ 29.6 million has been determined. After adjusting for the net debt of Boyut Grup Enerji, Turkcell shall make a payment of US$ 11.5 million. According to the Turkcell statement, Karadağ Wind Power Plant has an 18 MW installed capacity as well as an annual electricity generation capacity of 67.5 GWh, and thereby has the potential to meet the annual electricity need of approximately 22,500 houses. The plant has state purchase guarantee until the end of 2026. The anticipated annual gross revenue of the plant during 2021-2026 period is approximately US$ 5 million.


Contacts

Taner Olçum
This email address is being protected from spambots. You need JavaScript enabled to view it.
+90 532 2106185

Company Expands Capabilities in Internet of Things and Smart City Products

HOUSTON--(BUSINESS WIRE)--Geospace Technologies (NASDAQ: GEOS) today announced that it has acquired 100 percent of the outstanding shares of Aquana, LLC, a comprehensive wireless water monitoring and control system provider. Under terms of the agreement, Aquana will operate as a wholly owned subsidiary of Geospace Technologies. The Company intends to retain Aquana’s employees, further strengthening Geospace’s highly skilled technical workforce. Terms of the transaction include an initial cash payment of $1.4 million at closing, subject to adjustment, and additional contingent cash payments over a six-year earn-out period. The contingent cash payments will be derived from revenues generated during the earn-out period from products and services sold by Aquana, LLC.


Founded in 2017, Aquana provides a leading Internet of Things (IoT) water management platform that delivers remote shut-off valve control, remote AMI meter reading, as well as leak and burst protection for municipal water utilities, multi-dwelling properties, and commercial buildings. Aquana combines connected smart valve hardware with cloud-based software in a Software as a Service (SaaS) recurring revenue model.

Rick Wheeler, CEO and President of Geospace Technologies, said, “Building upon Geospace’s deep technology focus and targeted business diversification strategy, I’m pleased to announce the acquisition of Aquana. Aquana’s premier IoT platform offers multifunctional, modular, and enterprise-ready solutions serving the rapidly growing property management and water utility markets. Fully complementary to our existing products and market expertise, Aquana’s state-of-the-art systems incorporate sensors, are Internet connected, and use configurable algorithms to help clients maximize revenue, limit costs, and mitigate water damage.”

Steve Askew, CEO of Aquana, LLC, said, “We are excited to join the Geospace team. Backed by Geospace’s decades of technology development, manufacturing, and extensive customer service, Aquana can better serve our customers, scale more rapidly, and develop new products. Moreover, property managers and water utility operators alike will be able to deploy intelligent leak detection and remote disconnect capabilities to provide more benefits to consumers and tenants.”

Aquana’s leak detection systems serve a valuable role in the property management sector, identifying and alerting property owners of water damaging events in their initial stages. Analysts estimate that approximately two percent of U.S. properties experience leak-related damage each year, resulting in a corresponding increase in insurance claims. 2017 water damage insurance claims payments were $13 billion. The rise in such claims has facilitated the growth of leak detection systems by the more than 400 Water Utilities that serve approximately 140 million domestic customers. Aquana’s business strategy seeks to capture 5% of the remote shut-off valve market which represents a $1.4B opportunity. In addition, Aquana’s submetering, compliance, and automation features play a valuable role in helping users conserve water, ensure compliance with municipal regulations, and justify premium rents.”

Additionally, Aquana’s Internet connected remote value platform improves a utility’s ability to save time, money, and expense. Industry analysts estimate that approximately five to ten percent of water utility users don’t pay their bills, and that each time a utility is forced to disconnect and then reconnect service, significant labor and operational costs are incurred. Aquana’s sensors and actuators enable utilities to disconnect and reconnect services remotely from a secure central location.

The Aquana business division will reside in Geospace’s Adjacent Markets segment. This segment generated a 10% increase in year-over-year revenue for the six-month period ending March 31, 2021, despite the debilitating effects of the worldwide COVID-19 pandemic. Management believes that its technology focused diversification strategy will continue to pay strong dividends.

Wheeler concluded, “I’d like to welcome the highly innovative and talented Aquana personnel to our Geospace team. Through the combination of our technologies, engineering, and core manufacturing competencies, we look forward to forging a profitable and successful enterprise as we continue to drive results for our valued clients and trusted shareholders.”

About Geospace Technologies

Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.

About Aquana

Aquana’s premier Internet of Things (IoT) platform offers multifunctional, modular, and enterprise ready solutions serving the rapidly growing water utility and property management markets. The Company’s water management solutions deliver remote shut-off valve control, remote AMI meter reading, as well as leak and burst protection for multi-family properties, commercial buildings, and utilities. Aquana combines connected smart valve hardware with cloud-based software in a Software as a Service (SaaS) recurring revenue model.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “intend”, “expect”, “plan”, “budget”, “forecast”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “evaluating” or similar words. Statements that contain these words should be read carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position or state other forward-looking information. Examples of forward-looking statements include, among others, statements that we make regarding the success of our transaction with Aquana and our diversification strategy. These forward-looking statements reflect our current judgment about future events and trends based on the information currently available to us. However, there will likely be events in the future that we are not able to predict or control. The factors listed under the caption “Risk Factors” in our most recent Annual Report on Form 10-K which is on file with the Securities and Exchange Commission, as well as other cautionary language in such Annual Report, any subsequent Quarterly Report on Form 10-Q, or in our other periodic reports, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Such examples include, but are not limited to, the failure of the Aquana transaction and our diversification strategy to yield positive operating results. The occurrence of the events described in these risk factors and elsewhere in our most recent Annual Report on Form 10-K or in our other periodic reports could have a material adverse effect on our business, results of operations and financial position, and actual events and results of operations may vary materially from our current expectations. We assume no obligation to revise or update any forward-looking statement, whether written or oral, that we may make from time to time, whether as a result of new information, future developments or otherwise.


Contacts

Rick Wheeler
President and CEO
TEL: 713.986.4444
FAX: 713.986.4445

  • Flexion Energy will develop, build, own and manage energy storage systems, helping bridge the gap between development and financing of energy storage sites
  • Flexion aims to have 200MW of operational assets after 18 months extending to 1GW within 5 years

LONDON--(BUSINESS WIRE)--Flexion Energy, the modern utility company and energy storage infrastructure specialist, today announces that it has received £150 million of investment from GLIL Infrastructure.

Flexion intends to develop, build, own and manage energy storage systems in the UK, specifically large-scale batteries connected to and servicing the electricity grid. The company bridges the gap between the development and financing of energy storage sites.

Energy storage underpins the switch to renewable sources of energy, serving as a critical pillar in enabling electrification to help the UK meet its net-zero carbon emissions targets. Flexion’s development of storage infrastructure will help stabilise the transition to renewable energy in the UK and provide security to the grid by reducing volatility associated with the production of renewable energy.

This investment from GLIL will enable Flexion to construct and make operational an established pipeline of up to 300 MW of grid connected battery storage systems within the next 24 months. Furthermore, Flexion has an objective to deliver 1 GW of operational storage systems within five years.

Flexion benefits from the extensive track records of ion Ventures’ Co-Founders, Hassen Bali and Dan Taylor, both storage infrastructure experts who bring a unique blend of commercial and technical expertise to Flexion that spans more than 40 years. ion Ventures has been engaged by Flexion to provide development, operational and asset management services to Flexion as it develops its significant storage pipeline through to operations.

Their knowledge of the renewable energy sector and in-depth understanding of Distribution Network Operators (DNOs) is the result of achieving a number of “market firsts”, including the first Tesla grid-scale storage system in Europe, which saw one of the first uses of battery energy storage for grid-scale support in the UK, and the development of more than 200 MW of energy storage assets to date.

The deal is the eleventh investment by GLIL, the £2.5bn infrastructure fund backed by Local Pensions Partnership and Northern LGPS. In April, GLIL announced its appointment as an infrastructure investment partner for Government-established workplace pension provider Nest. Its investments to date include equity stakes in Anglian Water, Clyde Windfarm, Forth Ports, two fleets of trains with Rock Rail, a portfolio of PPP assets and investments in biomass and anaerobic digestion energy generation, and Agility Trains East (‘ATE’), a rolling stock fleet of 65 new intercity trains on the East Coast Mainline. Most recently, in April, it acquired UK energy infrastructure provider Smart Meter Assets 1 Ltd.

Dan Taylor and Hassen Bali, Co-Founders of Flexion Energy and ion Ventures, commented:The requirement for energy storage in the UK is significant and growing as we transition to a lower carbon economy. Energy storage will play a central role in the energy transition, which is driven by the UK’s legally binding commitment for net-zero carbon emissions by 2050 and accelerated by the UK government’s recent Ten Point Plan, in addition to the rapidly evolving demand for electricity.

“The technical capabilities of our team will ensure that we stay ahead of future market shifts and that our approach remains resilient and differentiated. Flexion is technology agnostic and will take advantage of the continuing evolution of battery technology and innovation in the broader energy storage space.

“Public markets are already playing a big role in funding energy storage infrastructure, but the sector remains underserved and Flexion is seeking to address this. We welcome this investment from GLIL Infrastructure and look forward to achieving our clear long-term growth objectives that deploy cash generative assets.”

Jonathan Ord, Investment Director at GLIL Infrastructure, added: “Energy specialists like Flexion have a critical role to play in the country’s future infrastructure objectives. Our backing of the company ties in with our extensive plans to assist in the UK’s recovery and help to build a sustainable economy for the future through infrastructure investment. We look forward to working with Dan, Hassen and the team, and to providing stable, inflation-linked returns for our members.”

About Flexion Energy:

Flexion Energy is a modern utility and energy storage infrastructure specialist. Flexion Energy bridges the gap between development and finance in the energy storage sector – sourcing, developing and operating energy storage assets at scale in the UK. Founded by Dan Taylor and Hassen Bali, Flexion Energy has blended commercial and technical expertise to develop energy storage solutions which manage grid volatility during the transition to renewable energy. For more information, please visit https://flexion.energy/.

About GLIL Infrastructure:

GLIL is an Alternative Investment Fund with £2.475bn of committed capital. The fund was established in April 2015 by Greater Manchester Pension Fund and the London Pensions Fund Authority. It was relaunched in 2018 as an Alternative Investment Fund to invest in infrastructure projects and is now supported by a number of UK Local Government Pension Funds, including Greater Manchester, Merseyside and West Yorkshire Pension Funds, which are known collectively as Northern LGPS, and Lancashire County Pension Fund, Royal County of Berkshire Pension Fund and the London Pensions Fund Authority, which form Local Pensions Partnership. In March 2021, GLIL was appointed as an infrastructure investment partner for Nest, the Government-established workplace pension provider. For more information, please visit: www.glil.co.uk

About ion Ventures:

ion Ventures was established in 2018 to exploit opportunities that arise from the increasing complexity of energy systems, the shift to distributed generation and more localised networks and the need for flexible and responsive solutions. ion Ventures specialises in utilising appropriate technology, combined with commercial expertise, to identify and deliver solutions that meet these challenges. The company’s management team collectively has more than 25 years’ experience in the clean energy industry, with a proven track record financing and developing clean energy projects, including energy storage.

For more information, please visit: https://www.ion.ventures/


Contacts

Media Enquiries:
Mark Walter / Lewis Hill / George Peele
Instinctif Partners
This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 20 7866 7887

Justin Moll
Citypress (on behalf of GLIL Infrastructure)
This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 203 773 9544

Offshore Source Logo

Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.

Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.

Corporate Offices

Technology Systems Corporation
8502 SW Kansas Ave
Stuart, FL 34997

info@tscpublishing.com