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.
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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
For Halliburton
Investors:
Abu Zeya
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Media:
William Fitzgerald
Halliburton, External Affairs
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713-876-0105
For TechnipFMC
Investors:
Matt Seinsheimer
Vice President, Investor Relations
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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DENVER--(BUSINESS WIRE)--Liberty Oilfield Services Inc. (NYSE: LBRT; “Liberty”) announced today the successful completion of the rigorous field testing of Liberty’s digiFrac™ electric pump. Developed by Liberty’s ST9 commercial equipment division, digiFrac is the industry’s first purpose-built fully integrated electric frac pump with high power density and significantly lower emissions relative to the best next generation frac technology available in the market.
Final field testing for digiFrac was completed on a three well pad with 24-hour operations for a large E&P partner in the Delaware Basin of West Texas. The digiFrac pump represented 10% of pumping capacity on location and affirmed confidence for commercial production. The system became Liberty’s preferred capacity for rate changes and adjustments with 0.1 barrel per minute micro control system ability during the completions.
The field test comes after three years of internal research and development resulting in the delivery of a state-of-the-art electric pump engineered for flexibility, from adaptable electric power sources to next generation equipment integration. The digiFrac platform will allow flexibility to incorporate electricity from central generation or the grid if available. The digiFrac pump will also anchor a fully electric frac fleet by integrating with Liberty’s existing electric wireline and backside equipment including blender, hydration, and sand handling, culminating in the industry’s first complete designed for purpose electric suite of frac technology.
“The successful development and field test of digiFrac is a milestone for the industry and reflects Liberty’s commitment to continued innovation in ESG technologies. When commercialized, digiFrac will represent the most advanced frac system available, allowing our customers to raise efficiency and control of their operations while lowering their emission profiles,” said Chris Wright, CEO of Liberty.
“Adding the digiFrac electric pump allowed for precision rate control we have not been able to accomplish before. The digiFrac pump quickly became the control center of location. This technology is going to be a game changer for future operations,” said Jesse Dees, Liberty Service Leader for Eclipse crew.
About Liberty
Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
Michael Stock
Chief Financial Officer
303-515-2851
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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.
CONTACT INVESTOR RELATIONS
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
Shelly Oates, ext. 3202
KENNESAW, Ga. & PASADENA, Calif.--(BUSINESS WIRE)--Athena Technology Acquisition Corp. (“Athena”) (NYSE: ATHN), a special purpose acquisition company (SPAC), and Heliogen, Inc. (“Heliogen” or the “Company”), a leading provider of AI-enabled concentrated solar power, today announced that they have entered into a definitive agreement for a business combination. Following the business combination, Athena expects to be renamed “Heliogen, Inc.” and will remain listed on the New York Stock Exchange under the new ticker symbol “HLGN”.
Heliogen’s modular, AI-enabled, concentrated solar power plants have the potential to revolutionize the energy market by alleviating intermittency issues associated with renewable sources of power generation. Heliogen’s technology is designed to flatten the power generation curve by using concentrated solar power with storage to increase the availability of energy to industry. The Company’s proprietary heliostat layout and control system facilitate concentration of the sun’s rays and has the ability to generate temperatures at the point of focus that can exceed 1,000 degrees centigrade. This heat can then be captured and converted for industrial use, power generation, or to produce green hydrogen fuel, with the goal of providing near-24 hour renewable energy that could replace fossil fuels with concentrated sunlight. Heliogen is commencing the commercialization of its AI-enabled, concentrated solar power modules with internationally recognized customers in the industrial, mining, and energy sectors.
Athena, led by Chairwoman Isabelle Freidheim and CEO Phyllis Newhouse, is one of the only entirely women-led SPACs, with a diverse, all-female team of managers, advisors and investors. Athena's mission-driven management team combines extensive investment and operational expertise with a history of founding and scaling companies to positions of industry leadership. Through the Heliogen combination, Athena Chief Executive Officer Phyllis Newhouse is believed to be the first woman of color in the U.S. to take a company public through a SPAC.
Heliogen’s leadership will remain intact immediately after closing, with Bill Gross continuing as Chief Executive Officer of the combined company. Mr. Gross will work alongside Heliogen’s current executive team, including veterans of SpaceX, McKinsey & Company, Bechtel, Idealab, Deutsche Bank, and NRG Energy. Phyllis Newhouse is anticipated to join the Board of Directors of the combined company, which will include representation from both Heliogen and Athena.
“We are excited to combine with Athena to leverage our collective expertise as we execute our strategy to accelerate Heliogen’s growth and scale our groundbreaking concentrated solar technology for the global energy market,” said Bill Gross, Founder and Chief Executive Officer of Heliogen. “I have been building companies nearly my entire life, and the opportunity that Heliogen’s technology represents, to decarbonize power generation, replace other carbon-intensive sources of industrial heat, and contribute to the cost efficient production of alternative fuels such as green hydrogen, is at the head of the pack in terms of its potential to make a positive impact on society. As economies and industries worldwide continue to decarbonize, I believe Heliogen’s AI-enabled technology will play an important role in supporting and making those goals reality.”
“We very much look forward to working with Bill and the entire team at Heliogen in the pursuit of a cleaner, decarbonized world,” said Phyllis Newhouse, Chief Executive Officer of Athena. “Chairwoman Isabelle Freidheim and I co-founded Athena with a mission to work with disruptive technology companies with the potential to advance industry, and even society, through innovation. Heliogen absolutely meets that standard, not only in terms of solar-power generation, but in its ability to produce other sources of clean energy that may replace fossil fuels. The company’s pioneering use of AI and its scalable approach to project development are exciting innovations, and we couldn’t be more proud to combine with Heliogen as a publicly traded company.”
Transaction Overview
The business combination is structured as a statutory merger of Athena and Heliogen, with Heliogen surviving the merger as a wholly owned subsidiary of Athena. All of Heliogen’s stockholders are expected to rollover their equity into the combined company and to receive shares of Athena Class A common stock at closing as consideration.
The transaction is anticipated to generate gross proceeds of up to approximately $415 million of cash, assuming no redemptions by Athena’s public stockholders. The proceeds are expected to be used to scale heliostat manufacturing, to support research and development efforts on next generation heliostat technology, to support global project development, and to fund the balance sheet. These gross proceeds include investor commitments to purchase up to $165 million in shares of stock in Athena at $10.00 per share through a private investment in public equity (a “PIPE”), subject to satisfaction of customary closing conditions. Assuming no redemptions by Athena’s public stockholders and including anticipated proceeds from the PIPE, Athena estimates an initial pro forma implied enterprise value of the combined company immediately after closing of the business combination of approximately $2.0 billion.
The transaction has been unanimously approved by the boards of Heliogen and Athena. Completion of the proposed transaction is subject to customary closing conditions, including the approval of Athena’s and Heliogen’s respective stockholders and regulatory approvals, and is expected to occur in the fourth calendar quarter of 2021.
Advisors
Cohen & Company Capital Markets (a division of J.V.B. Financial Group, LLC), is serving as financial advisor to Athena. Barclays is serving as financial advisor to Heliogen. Cohen & Company Capital Markets is also serving as placement agent to Athena. DLA Piper LLP (US) is serving as legal advisor to Athena. Cooley LLP is acting as legal advisor to Heliogen.
Investor Conference Call Information
Heliogen and Athena will host a joint investor conference call to discuss the proposed transaction today, Wednesday, July 7, 2021 at 8:30AM ET.
To listen to the prepared remarks via telephone from the U.S., dial 1-877-407-9039 and an operator will assist you. International investors may listen to the call by dialing 1-201-689-8470. A telephone replay will be available by dialing 1-844-512-2921 if in the U.S, and by dialing 1-412-317-6671 from outside the U.S. The PIN for access to the replay is 13721322. The replay will be available through July 21, 2021 at 11:59PM ET.
Athena will file the investor presentation relating to the proposed transaction with the U.S. Securities and Exchange Commission (the “SEC”) as an exhibit to a Current Report on Form 8-K prior to the call, which will be available on the SEC’s website at www.sec.gov. All materials can also be found at https://www.athena1.com.
About Heliogen
Heliogen is a renewable energy technology company focused on empowering a sustainable future by eliminating the need for fossil fuels in all sectors of the economy. The company’s Sunlight Refinery™ aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, and green hydrogen fuel at scale for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996.
For more information about Heliogen, please visit Heliogen.com or @heliogeninc.
About Athena Technology Acquisition Corp.
Athena Technology Acquisition Corp. is an entirely women-led special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the technology, direct-to-consumer and fintech industries.
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, including statements regarding the business combination between Athena and Heliogen, the consideration to be paid to Heliogen’s stockholders and its closing, statements regarding Heliogen’s listing on the NYSE, statements regarding the anticipated enterprise value of the combined company at closing, statements regarding Heliogen’s expected proceeds from the business combination, use of such proceeds and expected benefits of the business combination, statements regarding Phyllis Newhouse, statements regarding the impact of Heliogen’s technology on the energy market, and statements regarding the expected proceeds from the PIPE and its closing. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on current expectations and beliefs of the management of Athena and/or Heliogen in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effects on Heliogen and Athena as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Heliogen or Athena will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including changes in domestic and foreign business, market, financial, political and legal conditions, potential benefits and commercial attractiveness to its customers of Heliogen’s products and services, the potential success of Heliogen’s marketing and expansion strategies, Heliogen’s ability to scale and the timing of expected business milestones, the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the stockholders of the Company or Athena is not obtained, failure to realize the potential benefits of the business combination (including with respect to stockholder value), the effects of competition on the Company’s future business, the ability of the post-combination company to meet the NYSE listing standards, the amount of redemption requests made by Athena’s public stockholders, the ability of Athena or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, and expectations related to the terms and timing of the potential transactions and those factors discussed in Athena’s final prospectus filed on March 18, 2021, under the heading “Risk Factors,” and other documents of Athena filed, or to be filed, including the proxy statement/prospectus expected to be filed in connection with the business combination, with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of Athena’s filings with the SEC, and in Athena’s current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to Athena and/or Heliogen as of the date hereof, and Athena and/or Heliogen assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Important Information for Investors and Stockholders
In connection with the proposed business combination, Athena plans to file a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which includes a proxy statement to be distributed to the holders of Athena’s common stock in connection with Athena’s solicitation of proxies for the vote by Athena’s stockholders with respect to the business combination and other matters as described in the Registration Statement and a prospectus relating to the offer of the securities to be issued to the equity holders of Heliogen in connection with the business combination. This press release does not contain all the information that should be considered concerning the proposed business combination- and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. Athena and Heliogen urge investors, stockholders and other interested persons to read, when available, the Registration Statement, as well as other documents filed with the SEC, because these documents will contain important information about the proposed transaction.
When available, the Registration Statement and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of the record date to be established for voting of the proposed transaction. The Registration Statement, once available, can be obtained, without charge, at the SEC’s web site (http://www.sec.gov).
Participants in the Solicitation
Heliogen, Athena and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed Business Combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Form S-1 filed with the SEC on February 5, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be contained in the preliminary and definitive proxy statements/prospectus related to the proposed business combination and related transactions when it becomes available, and which can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Heliogen Contacts
For Media:
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Caldwell Bailey
ICR, Inc.
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Athena Technology Acquisition Corp. Contacts
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Berns Communications Group
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(973) 727-8400
(917) 922-4435
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.
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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.
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
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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
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AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on June 30, 2021, it entered into agreements (the “Financing Agreements”) with PNC Bank, N.A. (“PNC”) and an affiliate of MSD Partners, L.P. (“MSD Partners”) under which PNC has provided an up to $50 million asset-based revolving credit facility and availability for up to $125 million of letters of credit to B&W, and MSD Partners will provide cash collateral to support the letter of credit availability. The Financing Agreements have a maturity date of June 30, 2025.
All obligations under the Company’s prior Credit Agreement with Bank of America N.A. as administrative agent have been discharged, and the Credit Agreement has been terminated. Under the terms of the prior Credit Agreement, approximately $9 million in deferred fees have been waived due to the Company’s successful refinancing prior to July 1, 2021.
“The closing of this new facility is a significant accomplishment that demonstrates the strength of our company going forward and reflects the confidence of our lenders and our shareholders in our business and its future growth,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “With financing in place through June 2025, and long-term availability to support multi-year projects, we have a new start to build on our strong global growth strategy, continue to invest in our renewable, environmental, thermal and decarbonization technologies and evaluate potential acquisitions. The new senior facility will directly support new projects this year and ongoing projects as we leverage the strength of our experienced management team, improved balance sheet and robust pipeline to increase shareholder value while driving a worldwide industrial transformation to a green environmental future.”
Evercore served as the exclusive financial advisor to B&W.
About Babcock & Wilcox Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets.
About MSD Partners, L.P.
MSD Partners, L.P., an SEC-registered investment adviser located in New York, was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital. MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family. MSD Partners utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. For further information about MSD Partners, please see www.msdpartners.com.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the Company’s strength and future growth going forward, global growth strategy, future investments and the impact of and support provided by the credit facility. Factors that could cause such actual results to differ materially from these contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable). These factors should be considered carefully, and the Company cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox Enterprises
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox Enterprises
330.860.1345 | 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.
Press Contact:
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ISS Report Notes That Dissident Has Not Made a Compelling Case for Change
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today announced that the leading independent proxy advisory firm, Institutional Shareholder Services (“ISS”), has revised its initial recommendation and now recommends that all GeoPark shareholders vote “FOR” all eight of GeoPark’s highly qualified Director nominees at the Company’s Annual General Meeting of Shareholders, scheduled for July 15, 2021.
In its original report, ISS recommended that shareholders vote FOR seven of eight of GeoPark’s Director nominees. The change in ISS’ recommendation follows Mr. Pedro Aylwin Chiorrini’s resignation from the Board’s Nomination and Corporate Governance Committee, which accelerated the Board’s transition to maintain fully independent Board committees, consistent with GeoPark’s ongoing Board refreshment and corporate governance enhancements. Following Mr. Aylwin’s resignation, the Nomination and Corporate Governance Committee, the Audit Committee and the Compensation Committee now consist solely of independent Directors.
In making its recommendation, ISS notes1:
“We are gratified that ISS recognizes the Board’s commitment to evolving in line with corporate governance best practices and has revised its recommendation to support the re-election of all eight of GeoPark’s highly qualified Director nominees. We regularly review the mix of skills and experience of our Directors to ensure our Board is evolving in line with the increasing scale and demands of the business, and we are committed to continuous Director refreshment and further governance enhancements. We encourage GeoPark shareholders to follow ISS’ recommendation and vote “FOR” all of GeoPark’s nominees on the WHITE proxy card,” said Sylvia Escovar, Independent Chair of GeoPark’s Board of Directors.
WE STRONGLY URGE YOU TO VOTE “FOR” ALL 8 OF OUR BOARD NOMINEES
TO PROTECT THE VALUE OF YOUR INVESTMENT
VOTE USING THE WHITE CARD TODAY
Your vote is important. Please discard any blue proxy cards you may receive from Mr. Gerald O’Shaughnessy. If you have already returned a blue proxy card, you can change your vote simply by voting by telephone or via the Internet by following the instructions on the enclosed WHITE proxy card or by signing, dating and returning a WHITE proxy card today. Only your latest-dated proxy card will be counted.
If you have questions about how to vote your shares, please contact:
INNISFREE M&A INCORPORATED
Shareholders, Call Toll-Free: (877) 750-8166
Banks and Brokers, Call Collect: (212) 750-5833
NOTICE
A copy of GeoPark’s proxy statement and related materials as furnished to the SEC is available at no charge on the SEC website at www.sec.gov. In addition, copies of the proxy statement and other documents may be obtained free of charge by accessing the Company’s website at www.geo-park.com or at www.envisionreports.com/GPRK/2021/1B327AP21E/default.htm?voting=true.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the composition of the Board of Directors, the Board’s evolution and diversification, GeoPark’s positioning to continue delivering consistent value and free cash flow and GeoPark’s focus on value creation for shareholders. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
1 Permission to use quotations neither sought nor obtained from ISS.
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf
T: +1-212-750-5833
MEDIA:
Sard Verbinnen & Co.
Jared Levy / Kelsey Markovich
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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.
Investor & Media Contact:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) announced today it has acquired the assets of a retail propane distribution company based in North Carolina, operating under the tradename, Williams Energy Group (“Williams Energy”).
“The acquisition of Williams Energy is Superior’s fifth acquisition in 2021 and supports our Superior Way Forward growth strategy initiative of executing on accretive acquisitions in our operational areas. This acquisition scales our existing footprint in North Carolina, and provides us with a strong customer base and synergy opportunities from combining our existing operations and the recent Freeman Gas acquisition,” said Luc Desjardins, Superior’s President and CEO. “Williams Energy is a well-run, customer-focused business and we look forward to welcoming the team and customers to Superior.”
Founded in 1998, Williams Energy is an established independent retail propane distributor delivering approximately ~7 million gallons of propane annually to 12,000 retail and commercial customers in North Carolina.
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 our 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).
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)
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
Brian Dingerdissen
Essential Utilities Inc.
Investor Relations
O: 610.645.1191
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Erin O’Donnell
Communications and Marketing
412.208.6614
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DUBLIN--(BUSINESS WIRE)--The "Global Refinery Vacuum Distillation Units (VDU) Outlook to 2025 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Vacuum Distillation Units" report has been added to ResearchAndMarkets.com's offering.
The global vacuum distillation units (VDU) capacity increased from 28,168 thousand barrels per day (mbd) in 2015 to 28,213 mbd in 2020 at an Average Annual Growth Rate (AAGR) of 0.03 percent. It is expected to increase from 28,213 mbd in 2020 to 30,593 mbd in 2025 at an AAGR of 1.6 percent. The US, Russia, Japan, India, and Germany are the major countries that accounted for 48.9 percent of the total global VDU capacity in 2020.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
2. Global Refinery VDU, Snapshot
2.1. Global Refinery VDU, Key Data, 2020
2.2. Global Refinery VDU, Planned and Announced VDUs
2.3. Global Refinery VDU, New VDUs and Capacity Expansions by Region
2.4. Global Refinery VDU, Regional Comparisons
3. Africa Refinery VDU
3.1. Africa Refinery VDU, Snapshot
3.2. Africa Refinery VDU, Planned and Announced VDUs, Capacity Expansions and Capex by Country
3.3. Africa Refinery VDU, New VDUs and Capacity Expansions by Key Countries
3.4. Africa Refinery VDU, Nigeria
3.5. Africa Refinery VDU, South Africa
3.6. Africa Refinery VDU, Egypt
3.7. Africa Refinery VDU, Morocco
3.8. Africa Refinery VDU, Cote d'Ivoire
3.9. Africa Refinery VDU, Djibouti
3.10. Africa Refinery VDU, Cameroon
3.11. Africa Refinery VDU, Algeria
3.12. Africa Refinery VDU, Congo Republic
3.13. Africa Refinery VDU, Senegal
3.14. Africa Refinery VDU, Libya
3.15. Africa Refinery VDU, Angola
3.16. Africa Refinery VDU, Zambia
3.17. Africa Refinery VDU, South Sudan
3.18. Africa Refinery VDU, Ethiopia
3.19. Africa Refinery VDU, Ghana
3.20. Africa Refinery VDU, Zimbabwe
4. Asia Refinery VDU
4.1. Asia Refinery VDU, Snapshot
4.2. Asia Refinery VDU, Planned and Announced VDUs, Capacity Expansions and Capex by Country
4.3. Asia Refinery VDU, New VDUs and Capacity Expansions by Key Countries
4.4. Asia Refinery VDU, Japan
4.5. Asia Refinery VDU, India
4.6. Asia Refinery VDU, China
4.7. Asia Refinery VDU, South Korea
4.8. Asia Refinery VDU, Thailand
4.9. Asia Refinery VDU, Taiwan
4.10. Asia Refinery VDU, Indonesia
4.11. Asia Refinery VDU, Pakistan
4.12. Asia Refinery VDU, Singapore
4.13. Asia Refinery VDU, Malaysia
4.14. Asia Refinery VDU, Philippines
4.15. Asia Refinery VDU, Bangladesh
4.16. Asia Refinery VDU, Sri Lanka
4.17. Asia Refinery VDU, Mongolia
5. Caribbean Refinery VDU
6. Central America Refinery VDU
7. Europe Refinery VDU
8. Former Soviet Union Refinery VDU
9. Middle East Refinery VDU
10. North America Refinery VDU
11. Oceania Refinery VDU
12. South America Refinery VDU
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/drib2e
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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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.
For Halliburton
Investors:
Abu Zeya
Halliburton, Investor Relations
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281-871-2633
Media:
William Fitzgerald
Halliburton, External Affairs
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713-876-0105
For TechnipFMC
Investors:
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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GENOA, Italy--(BUSINESS WIRE)--#Helbiz--Helbiz, a global leader in micro-mobility that is the business combination target of GreenVision Acquisition Corp (Nasdaq: GRNV) today announced a partnership with IrenGo and Telepass to deploy 50 MiMoto electric mopeds throughout Portofino, Santa Margherita Ligure, Rapallo, Paraggi and Punta Pedale. As the first and only operator in the Ligurian area, this partnership will bring micro-mobility and sustainable transportation solutions to the local community. To celebrate the launch, the companies welcomed the Governor of Liguria, Giovanni Toti, to introduce the services to the city, followed by an exclusive concert by Italian singer-songwriter, Giovanni Caccamo.
This partnership is bound by each of the companies’ commitment to environmental sustainability, and the MiMoto service provides a practical, economical and green method of shared transportation to quickly move from one point to another. The service is accessible through the MiMoto app, available for iOS and Android. E-mopeds can be found and booked through the application interface, with rides costing €0.35 per minute, €14.90 per hour or €59 for the whole day. Each e-moped can hold two passengers, and is equipped with two helmets, sanitizer, disposable hygienic caps and self-drying helmet foam for riders to access before and after each trip.
"Micro-mobility solutions encourage the reduction of traffic and emissions in Tigullio and have proven over the last year to be a great success," said President of the Liguria Region Giovanni Toti. "We are pleased to bring the e-mopeds back to the area, one that is so important for tourism in our region. We strive to implement green and environmentally friendly policies, and through the use of electric vehicles Liguria will continue to be at the forefront."
"Through its effectiveness, practicality and sustainability, MiMoto is the perfect service for transportation between the cities that overlook the Gulf of Tigullio," said Matteo Tanzilli, Head of Institutional Relations at Helbiz. "There is no better solution to facilitate short and medium-range travel in popular tourist areas that also allows a reduction in traffic congestion."
“This partnership continues to position us as leaders in the mobility sharing services sector across Liguria," said Gianluca Bufo, CEO of Iren Luce Gas e Servizi. "We are proud to be a provider of 100% green energy produced in the group's hydroelectric plants. In addition, we have decided to convert all of our domestic supplies into green energy at no additional cost for new and existing customers across the city. This way, we can help the environment from our homes, while also experiencing our cities in a fun, safe and sustainable way.”
"Telepass has chosen MiMoto to integrate the electric moped sharing mobility service into its Telepass Pay app, a digital platform of integrated services that continues to grow," said Luca Daniele, CEO of Telepass Pay. "Our mission is to ease people's lives through a new mobility experience, and this partnership with MiMoto allows shared mobility for sustainable, easy and fast transportation. We are aligned with the urban electric mobility provider that contributes to making the city more livable and less congested by traffic, to bring all of these advantages to the large tourist area of Portofino and the Gulf of Tigullio."
ABOUT HELBIZ
Helbiz is a global leader in micro-mobility services. Launched in 2016 and headquartered in New York City, the company operates e-scooters, e-bicycles and e-mopeds in nearly 30 cities around the world including Washington, D.C., Alexandria, Arlington, Atlanta, Miami, Milan and Rome. Helbiz utilizes a customized, proprietary fleet management platform, artificial intelligence and environmental mapping to optimize operations and business sustainability. In Q1 2021, Helbiz Inc announced a merger with SPAC GreenVision Acquisition Corp. (Nasdaq: GRNV), resulting in it becoming the first micro-mobility company listed on Nasdaq upon completion.
ABOUT TELEPASS
Telepass Group was born in 2017 with the aim to create an integrated system for mobility both in an urban and extra-urban contest. Today, Telepass is an ecosystem that offers to individuals and businesses a growing selection of solutions, even in digital mode, for a flexible, safe and sustainable mobility. A pioneer of mobility committed to facilitate the freedom of movement to people, expanding its offer, investing in state-of-the-art startups and ensuring the access to its services in Europe. So that every travel is an experience without borders. www.telepass.com
ABOUT IREN
Iren is a multi-utility company operating in the sectors of electricity, gas, district heating, environmental services, integrated water services and technological services for public administrations. The group operates in a multi-regional area with over 8,600 employees, a portfolio of approximately 1.9 million customers in the energy sector, nearly 2.8 million inhabitants served in the integrated water cycle and more than 3 million inhabitants in the environmental cycle. Iren is a holding company with headquarters in Reggio Emilia and operating hubs in Genoa, Parma, Piacenza and Turin. Iren Luce Gas e Servizi, the commercial name of Iren Mercato S.p.a., is the business unit of the Iren Group that manages commercial activities for customers of all segments, both private individuals and companies. The supply chain includes procurement, sale and post-sales customer management. IrenGO is the business line dedicated to e-mobility that pursues its strategic lines of development, namely transversal innovation, environmental awareness, value-added investments and a customer-resident focus. It offers complete zero-emission mobility solutions for families, companies, small and medium enterprises and public administrations.
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s or GreenVision’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (ii) the ability of the Company to meet Nasdaq listing standards following the transaction and in connection with the consummation thereof; (iii) the inability to complete the transactions contemplated by the Merger Agreement due to the failure to obtain approval of the stockholders of the Company or the stockholders of GreenVision or other reasons; (iv) the failure to meet the minimum cash requirements of the Merger Agreement due to GreenVision stockholder redemptions and the failure to obtain replacement financing; (v) the failure to meet projected development and production targets; (vi) costs related to the proposed transaction; (vii) changes in applicable laws or regulations; (viii) the ability of the combined company to meet its financial and strategic goals, due to, among other things, competition, the ability of the combined company to pursue a growth strategy and manage growth profitability; (ix) the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; (x) the effect of the COVID-19 pandemic on the Company and GreenVision and their ability to consummate the transaction; and (xi) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in GreenVision’s periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21, 2021. GreenVision's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to GreenVision and Helbiz and speaks only as of the date on which it is made. GreenVision and Helbiz undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
Additional Information about the Transaction and Where to Find It
In connection with the proposed business combination, GreenVision filed a preliminary proxy statement with the SEC. Additionally, GreenVision will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Security holders of GreenVision are urged to read the preliminary proxy statement, the definitive proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release. GreenVision’s stockholders may also obtain a copy of the preliminary or definitive proxy statement, once available as well as other documents filed with the SEC by GreenVision, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: GreenVision Acquisition Corp., 8 The Green, Suite #4966, Dover, DE 19901, Attention: Chief Financial Officer, Tel. (302 289-8280).
Participants in Solicitation
GreenVision and its directors and officers may be deemed participants in the solicitation of proxies of GreenVision’s shareholders in connection with the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in GreenVision is contained in the preliminary proxy statement with respect to the proposed business combination filed on April 8, 2021 with the SEC, and in GreenVision’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and subsequently amended, which was filed with the SEC Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of GreenVision’s executive officers and directors in the solicitation by reading GreenVision’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and the definitive proxy statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of GreenVision’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the definitive proxy statement relating to the business combination when it becomes available.
Helbiz and its officers and directors may also be deemed participants in such solicitation. A list of the names of such directors and executive officers and information regarding their interests in the business combination are set forth in the preliminary proxy statement, which was filed on April 8, 2021 with the SEC and the definitive proxy statement for the business combination when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
Non-Solicitation
This press release does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
For investor and media inquiries, contact:
Global Head of Communications:
Davide D’Amico - tel. +39 335 7715011 email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Regions
USA
The Blueshirt Group
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Agent of Change
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EUROPE
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MY PR
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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 |
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Record Date: |
July 15, 2021 |
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Payable Date: |
July 20, 2021 |
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|
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Dividend Rate: |
$0.0243678 per Unit* |
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*Actual average daily production for the quarter was 70,857 BBLS. |
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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.
The Bank of New York Mellon Trust Company, N.A.
Elaina Rodgers
713-483-6020
VALLEY FORGE, Pa.--(BUSINESS WIRE)--#Civic50GreaterPhiladelphia--UGI Corporation (NYSE: UGI) has been named a 2021 honoree of The Civic 50 Greater Philadelphia by Philadelphia Foundation, in partnership with Points of Light and local partners. Modeled after Points of Light’s national program, The Civic 50 Greater Philadelphia provides a standard for corporate citizenship and showcases how employers use their time, skills and resources to drive social impact in their communities and company.
“UGI has a long history of strengthening the communities we serve by providing financial assistance and supporting employee volunteer efforts. Our dedicated teams of employees continue to make meaningful impact in our communities,” said Roger Perreault, President and Chief Executive Officer of UGI Corporation. “We are honored to receive this recognition and will continue to support and partner with organizations that are committed to strengthening our communities through greater inclusion and equity.”
Since 2011, The Civic 50 has provided a national standard for superior corporate citizenship and has showcased how companies use their time, skills and other resources to drive social impact in their business and community.
“Philadelphia Foundation is proud to recognize UGI’s outstanding civic engagement,” said Pedro Ramos, President and Chief Executive Officer of Philadelphia Foundation. “All of the 2021 honorees have demonstrated great passion and dedication to making a meaningful impact in the local communities they serve. It is this type of commitment that resonates throughout a region and sets the standard for corporate stewardship. We thank UGI for their efforts and congratulate them on this exciting honor.”
Also in keeping with Philadelphia Foundation’s role in advancing civic initiatives through partnerships and collaboration, it serves as home to the Greater Philadelphia Corporate Volunteer Council, as well as the Key Skills Hub – an ecosystem that matches community nonprofits with skills-based volunteers, free of charge.
“Points of Light believes that corporate leadership and commitment to civic engagement is critical to strengthening communities, and The Civic 50 Greater Philadelphia honorees including UGI exemplify that,” said Natalye Paquin, President and Chief Executive Officer of Points of Light. “Their inclusiveness and comprehensive approach to corporate citizenship, as well as their responsiveness to reflect, learn from each other and respond to community needs, make the Greater Philadelphia region a better place for all. We are so pleased to recognize them for taking their civic responsibility seriously, and for the role they play in shaping their communities.”
The Civic 50 Greater Philadelphia honorees were officially recognized on Wednesday, June 30th, at a celebratory event on the central Delaware River waterfront.
The Civic 50 Greater Philadelphia assessment is administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value and consists of quantitative and multiple-choice questions that inform scoring process.
To learn more about The Civic 50 Greater Philadelphia and honorees, please visit philafound.org/civic-50.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, 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.
About Philadelphia Foundation
Founded in 1918, Philadelphia Foundation strengthens the economic, social and civic vitality of Greater Philadelphia. Philadelphia Foundation grows effective philanthropic investment, connects individuals and institutions across sectors and geography, and advances civic initiatives through partnerships and collaboration. A publicly supported foundation, the Philadelphia Foundation manages more than 1,000 charitable funds established by its donors and makes over 1,000 grants and scholarship awards each year. To learn more, visit www.philafound.org.
About Points of Light
Points of Light is a nonpartisan, global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. We envision a world in which every individual discovers the power to make a difference, creating healthy communities in vibrant, participatory societies. Through 177 affiliates across 38 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 5 million volunteers in 16 million hours of service each year. We bring the power of people to bear where it’s needed most. For more information, visit www.pointsoflight.org.
Investor Relations
Tameka Morris, 610-456-6297
Arnab Mukherjee, 610-768-7498
Shelly Oates, 610-992-3202
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.
Taner Olçum
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+90 532 2106185
PERRYSBURG, Ohio--(BUSINESS WIRE)--#distribution--Miner Ltd., the loading dock and door division of OnPoint Group, today announced it has closed the acquisition of Dock & Door Handling Systems, the leading loading dock and commercial door provider in Maine, Massachusetts, and New Hampshire for over 20 years.
Founded in 1997 and headquartered in Saco, Maine with facilities in Wilmington, MA and Hooksett, NH, Dock & Door Handling Systems serves a long-standing list of customers. Their focus to keep facilities running with prescriptive services that limit down time is supported by a team of highly talented sales and service professionals and a shared mindset with Miner Ltd. of “Done Right, Right Now.” This acquisition further expands Miner’s national presence as the preeminent loading dock and door company in North America and opens new opportunities in the Northeast.
“We are thrilled the Dock & Door Handling Systems team has joined Miner, furthering our mission to mitigate risk and improve efficiency at the loading dock. We share a common commitment to customer care and ensuring our customers’ supply chain is always safe and running. Their well-established presence in the Northeast states strengthens our existing geographic footprint in this key market,” stated Miner’s President, Dave Wright.
“Dock & Door Handling Systems has long serviced customers with the most experienced team and best product offerings in the industry. Joining Miner provides our team and our customers with an ability to gain nationwide service coverage, broaden their equipment options and enjoy value-added services like MinerCare,” stated Dock & Door Handling Systems’ President and Founder, Karl Rausch.
For additional information about Miner and Dock & Door Handling Systems visit www.minercorp.com or www.onpointgroup.com/mergers-acquisitions.
About Miner Ltd.
Miner Ltd., an OnPoint Group company, is a self-performing facility expert for docks and doors, improving safety and uptime while lowering costs for some of the largest industrial facilities and Fortune 500-class companies in North America. Our suite of proactive MinerCare services makes for smarter, safer loading docks with data-driven solutions. From real-time electronic evidence to equipment monitoring to asset management and expert installations, our mission is to mitigate risk and improve efficiency at the loading dock. Our geographic footprint includes the largest network of best in class service professionals and qualified affiliates across the country delivering superior speed, consistency and results 24/7/365. Learn more at https://www.minercorp.com/.
About Dock & Door Handling Systems
Founded in 1997, Dock & Door has been installing and servicing loading dock equipment & industrial doors in New England for over 20 years with thousands of successful projects. Headquartered in Saco, ME with operations in Hooksett, NH and Wilmington, MA, Dock & Door prides itself on its ability to keep facilities running and recommending products that minimize service needs and down time.
Lexington Public Relations
Suki Mulberg Altamirano
646-265-0675
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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/
Media Enquiries:
Mark Walter / Lewis Hill / George Peele
Instinctif Partners
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Citypress (on behalf of GLIL Infrastructure)
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HOUSTON--(BUSINESS WIRE)--Blackbuck Resources LLC (“Blackbuck”), which designs, builds, and operates water infrastructure, announced it has closed on a sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated energy and power credit fund managed by Riverstone Holdings LLC (“Riverstone”). The financing provides an initial commitment of $50 million plus an accordion feature, which gives Blackbuck additional liquidity for growth. The facility’s pricing will be adjusted based upon Blackbuck’s adherence to certain sustainability performance targets, which are defined by key performance indicators set internally by Blackbuck.
“This unique structure further supports Blackbuck’s commitment to being an industry leader in sustainability and demonstrates our ongoing efforts to find innovative solutions to reduce our cost of capital and bring differentiated value to our customers,” said Blackbuck CEO and President Justin Love. “The additional capital will allow us to expand the capabilities of our produced water platform and grow with our customers as partners in production.”
“We have a longstanding relationship with the Riverstone team and are excited to partner with one of the leading asset managers in the energy sector. More importantly, this partnership promotes Blackbuck’s environmental stewardship and commitment to the broader goal of decarbonization within the oil and gas industry,” added Blackbuck CFO Jamie Liang.
Chris Abbate, a Partner and Managing Director at Riverstone, said, “We are pleased to partner with Blackbuck on this next stage of environmentally sustainable growth. This capital commitment underscores Blackbuck’s track record of operational excellence and aligns with Blackbuck’s commitment to sustainability.”
Foley & Lardner LLP served as legal adviser to Blackbuck. Baker Botts L.L.P. served as legal adviser to Riverstone.
About Blackbuck Resources LLC
Based in Houston and Midland, Blackbuck designs, builds, and operates water infrastructure and provides services for the oil and gas industry, with a primary focus on the Permian Basin. The team is comprised of professionals with experience in water disposal and treatment, pipeline management, and oil and gas operations. Blackbuck is backed by private equity sponsor Cresta Funds Management. For more information, visit www.blackbuckresources.com.
About Riverstone Holdings LLC
Riverstone Holdings LLC is an energy and power‐focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $41 billion of capital raised. Riverstone conducts buyout, growth capital, and credit investments in the exploration & production, midstream, oilfield services, power, and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, Riverstone has committed over $40 billion to more than 190 investments in North America, Latin America, Europe, Africa, Asia and Australia. Visit www.riverstonellc.com for more information.
About Cresta Fund Management
Blackbuck is a portfolio company of Cresta Fund Management (“Cresta”), a growth-oriented private equity firm that invests in sustainable and conventional energy and industrial infrastructure. Founded in 2016 and headquartered in Dallas, Texas, Cresta Management’s founding partners are seasoned industry veterans who bring value across the investment cycle from initial diligence through business operations. For more information, please visit: www.crestafunds.com.
Erika Allgood
Phone: 713.804.9460
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