Business Wire News

Electric trucks and the charging infrastructure are expected to experience major gains in revenue in the latter half of the forecast as policies become more stringent


BOULDER, Colo.--(BUSINESS WIRE)--#GHInsights--A new report from Guidehouse Insights assesses the global markets for electric heavy commercial vehicles (e-HCVs) and supporting charging infrastructure, including technologies, market drivers and barriers, as well as market growth over the next decade.

While electrification of the HCV market is well underway in some countries such as China, other countries are working to catch up. Public transit fleets are implementing the transition toward electricity at a rapid pace, and major parcel delivery services are placing huge orders for purpose-built e-HCVs with new market players. Established truck suppliers are introducing electric rigid trucks and day cab tractors, and high capacity charging technology standards to support electric long-haul trucking are nearing debut. Click to tweet: According to a new report from @WeAreGHInsights, the e-HVC market is expected to experience significant growth by 2030, with revenue forecasted to surpass $370 billion annually.

“This growth is a result of demands from governments and corporate customers for zero emissions fleet solutions,” says Scott Shepard, principal research analyst with Guidehouse Insights. “E-HCVs are becoming more attractive as emissions and energy efficiency regulations in two-thirds of the global HCV market are pressing manufacturers for greener vehicles.”

Despite strong prospects for the e-HCV market, there are challenges ahead, mostly related to range and charging speed. These challenges have been ongoing for the e-HCV market and the broader e-mobility market in general, as upgrades to the existing grid distribution system become more crucial. Increases to power capacity at fleet depots and fast charging sites will play a critical role in the expansion of the market.

The report, Market Data: Electric Trucks and Buses, examines e-HCV markets globally and supporting charging infrastructure, as well as technologies, market drivers and barriers, and the growth prognosis over the next 10 years. Forecast vehicle technologies in this report include battery electric trucks and buses with gross vehicle weight ratings over 3.5 tons (T) segmented by major vehicle types as follows: vans, rigid trucks, tractors, transit and coach buses, and shuttles. Charging infrastructure technologies include all charge points deployed to specifically support e-HCVs. Forecasts on these technologies are provided from 2020-2030 by major global region. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 8,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

* The information contained in this press release concerning the report, Market Data: Electric Trucks and Buses, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.


Contacts

Lindsay Funicello-Paul
+1.781.270.8456
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Accelerates Deployment of Andium’s Next Generation IIOT Remote Monitoring Capabilities Focused on Reducing Emissions Across the Oil and Gas Sector

NEW YORK--(BUSINESS WIRE)--#climatechange--Andium, Inc. (“Andium” or the “Company”), an expert in Industrial Internet of Things (IIOT) remote-field monitoring and communications technologies, today announced the close of a $15 million Series A investment round led by OGCI Climate Investments (“OGCI CI”). Existing Andium investors Tom Miglis, former Chief Information Officer of Citadel, and Talis Capital, also participated in the round.


The new financing round will continue to drive product growth and innovation, support strategic investment in talent, and enable Andium to accelerate the deployment of its proprietary Video Solutions product lines for flare monitoring, tank telemetry, and object detection.

Using a revolutionary end-to-end Operating System, Andium’s monitoring products provide oil and gas companies with verifiable, real-time information from remote locations at a fraction of the cost of other solutions. Turning monitoring, especially of flares, into an automated, digital process is a game changer for emission reductions and the achievement of environmental, social and governance goals (ESG).

“We believe that visibility is paramount in change leadership and operational excellence, and our remote monitoring technologies are specifically designed to offer companies an expedited path to achieve their sustainability goals” said Jory Schwach, CEO of Andium. “We are pleased to welcome OGCI CI as a new investor and advisor as we continue helping companies decarbonize through digitalization.”

“The transparency created by monitoring and measuring methane is essential to reducing emissions” said Pratima Rangarajan, CEO of OGCI Climate Investments. “Andium’s low-cost innovative solution lowers the barrier for operators of all sizes to adopt and implement best practices and we are pleased to support their growth.”

Andium’s flexible and reliable products are available at a fraction of the cost of other solutions, lowering the barrier of entry for operators and creating strong returns on investment through operational efficiency. These characteristics fit perfectly with the increasing demand from energy customers for access to real-time information across remote locations.

Tom Miglis, former Chief Information Officer of Citadel, said, “As a long-term investor in Andium, I’ve been continually impressed by the team’s ability to innovate and deliver cost-effective solutions providing unique insights to customers. Andium’s ability to enable its partners to thrive in this period of energy transition by developing technologies that drive a returns-focused approach to emissions reduction and increased efficiency has been impressive.”

About Andium

Andium believes in the truism that what you can monitor, you can manage. Using a novel end-to-end Industrial Internet of Things platform, Andium enables leaders to make meaningful change in the world. We believe working in some of the most consequential markets where the decisions of the future of our world are at stake enables us to elevate a voice in the future. Through environmental, sustainability and governance (ESG) monitoring, Andium is helping to build a better world of today for tomorrow. Andium, Work Farther. Visit https://andium.com.

About OGCI Climate Investments

OGCI Climate Investments is a $1B+ fund, launched in 2016 by the Oil and Gas Climate Initiative, a CEO-led initiative that aims to accelerate the industry response to climate change. We look for outcomes that reduce methane and carbon dioxide emissions, and that can recycle or store carbon dioxide. Achieving significant impact requires global implementation and commercial frameworks – at OGCI Climate Investments, we collaborate with innovators, investors and governments to fund and implement impactful solutions. Visit https://oilandgasclimateinitiative.com/climate-investments.


Contacts

Andium
Sammuel Bowden
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CI
Brian Brooks
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+1 713 752 1901 -- direct
+1 713 858 8842 – mobile

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 6, 2021.


Following the release, ALLETE Chief Executive Officer and President Bethany M. Owen, Senior Vice President and Chief Financial Officer Robert J. Adams, and Vice President, Controller and Chief Accounting Officer Steven W. Morris will present an overview of results and discuss other factors affecting performance during a conference call beginning at 10 a.m. Eastern time. Interested parties may listen to the conference live by calling (877) 303-5852 using passcode 6089168, or by accessing the webcast on ALLETE’s website, www.allete.com.

A replay of the call will be available through May 13, 2021, by dialing (855) 859-2056, conference identification number 6089168. The webcast will be accessible for one year at www.allete.com.

ALLETE is an energy company headquartered in Duluth, Minn. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth, BNI Energy in Bismarck, N.D., and has an eight percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP


Contacts

Investor Contact:
Vince Meyer, 218-723-3952
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38,712 contracts traded in total on ICE Futures Abu Dhabi since launch

38 firms traded on IFAD since launch

ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 14,419 ICE Murban Crude Oil Futures contracts traded on ICE Futures Abu Dhabi (“IFAD”) on April 7, marking its highest volume day since the contracts launched on March 29. Alongside ICE Murban Crude Oil Futures, IFAD launched trading in 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.


A total of 38,712 contracts have traded on IFAD since the launch. This includes 34,202 ICE Murban Crude Oil futures contracts and 4,510 Murban-related cash settled derivatives, with 38 firms having traded on IFAD since the launch.

“The scale of the response from the market to the launch of Murban futures is both encouraging and validating,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “The energy industry needed the ability to hedge forward price risk for Murban crude and what we are seeing is participants from across both the physical and financial sides of the market coming together to form two-way pricing every day and contribute to the price formation process of Murban crude oil.”

Murban futures are open for trading for 24 hours a day on Mondays and 22 hours a day Tuesdays to Fridays, with investors from jurisdictions including Abu Dhabi Global Market, United States, Singapore, UK, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, able to trade on IFAD. IFAD has 26 Exchange Members and 19 Clearing Members, who are listed in full on IFAD’s Membership page.

Contracts traded on IFAD are cleared at ICE Clear Europe where they are cleared alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from critical margin offsets to enhance capital efficiency.

For more information on how to clear or trade IFAD markets please contact This email address is being protected from spambots. You need JavaScript enabled to view it. or to arrange education sessions on IFAD markets please contact This email address is being protected from spambots. You need JavaScript enabled to view it..

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.

ICE- CORP
Source: Intercontinental Exchange


Contacts

ICE Media Contact:
Rebecca Mitchell
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+44 7951 057 351

ICE Investor Contact:
Warren Gardiner
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770-835-0114

Digital freight network recognized for technical innovations in advancing low-carbon solutions in the long-haul freight industry

SEATTLE--(BUSINESS WIRE)--Convoy, the nation’s most efficient digital freight network, has been named a 2021 BloombergNEF Pioneer, an annual award announced by Bloomberg, the global business and financial information and news leader, recognizing 12 game-changing companies advancing the low-carbon economy.



“To be recognized by BloombergNEF is a huge honor and highlights the importance of Convoy’s mission to transport the world with endless capacity and zero waste,” said Convoy Co-founder and CEO Dan Lewis. “Today, more than 72 million metric tons of wasted CO2 are generated by empty trucks; if the entire industry were to adopt Convoy's technology, it would reduce CO2 emissions by 32 million metric tons, the equivalent of taking 6.9 million cars off of the road annually. Convoy is pioneering the movement in efficient freight and we’re just scratching the surface of what's possible.”

Convoy is committed to building the most efficient supply chain possible, lowering costs for shippers, increasing earnings for drivers, while saving the environment. Waste contributes to higher costs in nearly every industry, but in freight, the stakes are even higher as more fuel is consumed, more carbon is emitted, and drivers spend more hours sitting idle. Convoy’s industry-leading Automated Reloads program algorithmically groups multiple full-truckload shipments for carriers, reducing empty miles from the industry standard of 35% to 19%. To date, Convoy has eliminated 2.5 million pounds of carbon emissions for its customers.

Now in its 12th year, BloombergNEF Pioneers recognizes the most impactful and original technological innovations with the potential to accelerate global decarbonization. Winners were selected by a panel of BNEF experts from a pool of more than 250 applicants from across the world.

“This year we selected three specific areas – heavy-duty transport, materials and the climate – where BNEF believes technology must play an important role in decarbonization,” said Claire Curry, selection committee co-chair and head of digital industry research at BloombergNEF. “While much of transport will electrify or turn to green hydrogen, the heavy-duty goods sector will continue burning fossil fuels for years to come. This makes optimizing route planning, reducing idle time and eliminating empty miles truly essential in the near-term.”

Businesses that want to learn more about how they can reduce carbon emissions in their supply chain can email This email address is being protected from spambots. You need JavaScript enabled to view it.. We’d love to talk about how we can make a difference together.

About Convoy

Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 72 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.


Contacts

Media Contact:
Chris Volk
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310-663-4315

Duke Energy, NextEra Energy Resources lead development of 600-acre solar farm to supply approximately 50% of bank’s electricity needs for North Carolina



CHARLOTTE, N.C.--(BUSINESS WIRE)--#netzero--Wells Fargo, NextEra Energy Resources, and Duke Energy today announced a 20-year renewable energy purchase agreement, under which Wells Fargo will consume 100% of solar energy produced by the Blackburn Solar Project, a 58-megawatt 600-acre solar farm planned for Catawba County, North Carolina, under Duke Energy’s Green Source Advantage (GSA) program. The transaction announced today is Wells Fargo’s single largest to date and will supply approximately 8% of the company’s annual global electricity.

Energy provided under the agreement will allow Wells Fargo to meet more than 50% of total electricity needs and 100% of its eligible load within the Duke Energy Carolinas service area, where it maintains a real-estate footprint of 7.5 million square feet and employs about 36,000. The 130,000 megawatt-hours Wells Fargo will receive each year will be generated by about 200,000 solar panels. The facility will be developed, owned, and operated by a subsidiary of Florida-based NextEra Energy Resources, and is scheduled to come online in 2022. Wells Fargo will also retain the Renewable Energy Credits (RECs) associated with the project.

“The development of renewable energy projects close to employee and customer centers is one way Wells Fargo is working to meet our net-zero greenhouse gas emissions goal in a way that also contributes to the communities where we live and work. Investing in solar energy development in North Carolina will support job creation, tax revenue, reduced carbon emissions, and grid resiliency,” said Nate Hurst, head of Social Impact and Sustainability at Wells Fargo. “We appreciate the collaboration with Duke and NextEra to advance our enterprise sustainability goals in a way that benefits the local economy.”

As large energy users look to expand their sustainability goals, many are finding Duke Energy’s Green Source Advantage program the perfect fit to make that happen,” said Stephen De May, Duke Energy’s North Carolina president. “The program’s flexibility allows the customer to modify it to best suit their needs. The state benefits by more renewable energy.”

Developer NextEra Energy Resources is working with community leaders and organizations to ensure the project meets local solar development requirements, as well as Wells Fargo’s needs. As part of the development, NextEra Energy Resources is negotiating a land grant with the Catawba Lands Conservancy to conserve lands along the Catawba River and expand a portion of the Carolina Thread Trail. According to the project website, community economic benefits include approximately $2.3 million in additional tax revenue for the local community as well as local employment opportunities, including up to 100 jobs to construct the project.

We’re excited to work with Duke and Wells Fargo to provide more affordable, renewable energy through the Green Source Advantage program,” said Matt Handel, senior vice president of development for NextEra Energy Resources. ”The Blackburn Solar project will also provide significant benefits to the economy, creating good-paying construction jobs and generating millions of dollars in additional tax revenue for the local community.”

Wells Fargo has met 100% of its annual global electricity requirements with renewable energy since 2017, primarily through the purchase of RECs, which satisfied the first part of a two-pronged 2020 renewable energy goal set in 2016. The company is now working to fulfill the second part of that commitment — to transition to a higher mix of long-term renewable energy contracts for projects near its greatest load centers and significantly expand onsite solar generation in order to support the development of net-new sources of renewable energy and deliver community benefits associated with renewable energy development. In March, Wells Fargo announced its goal to achieve net-zero greenhouse gas emissions by 2050, including its financed emissions.

Leveraging our annual energy spend to advance green infrastructure development in the U.S. and create new revenue streams for communities is one way we are helping contribute to more sustainable, equitable, and resilient communities,” said Richard Henderson, head of Wells Fargo’s Corporate Properties Group. “We will continue to look for opportunities to advance environmental and social sustainability through our operations as Wells Fargo drives toward its ambitious climate goals.”

Earlier this year, Wells Fargo announced a deal with Ameresco, Inc. to install approximately 30 megawatts of new, on-site solar generation assets at about 100 corporate and retail locations in seven states. As part of that agreement, Ameresco will install 2.6 megawatts of solar generation at two administrative buildings in North Carolina. To date, Wells Fargo’s Corporate Properties Group has entered into nearly 120 long-term contracts that support the development of over 750 megawatts of net-new renewable energy assets.

Aside from being one of the largest corporate users of renewable energy, Wells Fargo is a leader in financing large-scale wind, solar, and other renewable energy projects on behalf of its customers. The company recently reached the milestone of providing $10 billion in tax equity financing for utility-scale renewable energy projects. Since 2005, Wells Fargo has helped finance 12% of all wind and solar energy capacity in the U.S.

About Wells Fargo

Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

News Release Category: WF-PESG


Contacts

Wells Fargo Media
E.J. Bernacki
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+1 415-823-3523

Company recognized for superior strategy and execution in transforming consumer data into household insights through artificial intelligence

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--A new Guidehouse Insights report has recognized Bidgely as a “Leader” in the home energy management (HEM) space for its success in delivering personalized energy insights, which support utilities in improving energy efficiency and reducing environmental impact among homeowners. The report, Guidehouse Insights Leaderboard: Home Energy Management Providers, examined the strategy and execution of 15 HEM solutions providers, with only three ranking within the “Leader” category, including Bidgely, the only independent company listed. Bidgely is specifically noted for the impressive accuracy of its personalized AMI-based solution as well as its extended artificial intelligence (AI)-powered enterprise analytics services.



“What sets leading providers apart is that their HEM solutions are supported by advanced metering infrastructure (AMI), which facilitate two-way communication between utilities and customers,” says William Hughes, principal research analyst with Guidehouse Insights. “In addition to the AMI-based solutions, there are numerous HEM monitors that major equipment manufacturers are increasingly integrating into their residential electrical equipment to offer real-time energy usage information.”

The Guidehouse Insights Leaderboard evaluates and ranks HEM providers based on their performance across 12 criteria, such as vision, go-to-market strategy, technology, product performance, quality and reliability, partners and geographic reach. In addition to receiving high scores in each category, Bidgely was further distinguished for its imaginative business and marketing strategies and ability to create sophisticated customer segmentation that allows utilities to target a broader range of customer audiences for the first time. For instance, electric vehicle owners, medium consumption users and small-to-medium businesses can all be identified through Bidgely’s UtilityAI platform.

“We are honored to be recognized as a Leader from Guidehouse Insights for creating powerful HEM solutions based on our patented disaggregation technology. Our approach of transforming smart meter and other data into actionable intelligence has proven to educate and motivate households around the world to make smarter energy decisions,” said Abhay Gupta, CEO of Bidgely. “Home energy management solutions are core offerings of our UtilityAI platform, which also encompasses a suite of data-driven solutions ranging from digitalized customer engagement and demand-side management to decarbonization and electrification.”

To access Guidehouse Insight’s full Leaderboard report, go to go.bidgely.com/Guidehouse-Insights-HEM-Report.

About Bidgely

Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.


Contacts

Christine Bennett
Bidgely
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Renewable integration on outdated infrastructure leads to power quality, backfeed, and safety concerns as utilities sound alarm with current measurement equipment

CORNING, N.Y. & AUSTIN, Texas--(BUSINESS WIRE)--Micatu Incorporated, a leader in cutting-edge optical sensing technology, recently partnered with ZPryme, an energy industry research provider, to conduct a survey to gain insight into how North American utilities are addressing renewable integration. The survey reinforces the urgency of the grid crisis with the revelation that a majority are already integrating renewables on a severely outdated infrastructure but are struggling to find the right measurement tools to manage the grid's changing topography safely.


A few of the key points from the survey include the following:

  • 43% of utilities have already integrated renewables; in five years, 90% will have integrated renewables
  • Power quality is a top challenge for 64% of utilities, but 17% of utilities have no plans to address real-time power quality data
  • Backfeed is also a challenge for 48% of utilities, but 82% said they do not currently monitor this issue
  • 77% of utilities said safety is a top power quality concern
  • 21% of utilities plan to integrate EVs onto their grids within the next five years
  • 68% of utilities are not satisfied with the quality of data used in grid management systems; 20% will switch sensing solutions to mitigate environmental safety concerns
  • Connectivity is key for utilities, with two-thirds of the responding utilities implementing grid connectivity applications
  • 51% of utilities say integration with internal and external IT systems is a challenge

More than 100 utilities, including investor-owned, public-owned, municipal, and cooperatives participated in the survey. The respondents are located throughout North America and ranged in size from fewer than 25,000 to more than 2 million customer accounts.

"This survey makes it clear that traditional methods of measurement and management just won't cut it if we want to prevent large-scale disruption and have sustainable and balanced grids," said Micatu CEO Michael Oshetski. "Renewable integration is causing a grid crisis now, and the only way for utilities to manage it is through the deployment of safe, accurate measurement tools, such as optical sensors, that will give operators situational awareness of what is happening on the grid."

Survey respondents made it clear that renewable integration is not something that is coming – it is already happening. More than half of the responding utilities started implementing renewables over the past three to five years. Over the next five years, 90% will have renewables integrated into their grids.

CHART: How far along is your utility in integrating renewables to your grid?

The COVID-19 global pandemic did not appear to slow things down in 2020. Instead, nearly a quarter of utilities saw an increased reliance on renewables in 2020. While lockdowns taking place early in the pandemic depressed overall electricity demand, the low operating cost of renewables gave it priority access to the grid, according to the IEA's January 2021 report "COVID-19 impact on electricity."

With renewables and distributed energy sources (DERs) integrating onto the grid at an unprecedented pace, operators are struggling to manage a half-century-old infrastructure that was not designed for the bi-directional energy flow. Survey respondents said the two biggest challenges to renewable integration are power quality (64%) and backfeed (48%).

CHART: Which key problems do you foresee as more renewables are put onto your grid?

Power quality issues manifest themselves in the forms of voltage swags, swells, flickers, harmonic distortions, power interruptions, and voltage imbalances. From a safety standpoint, poor power quality can result in electrical fires or overheating of electrical networks. Safety stands out as a top power quality concern for 77% of the survey respondents. Safety is reinforced, with 20% of the respondents stating they will switch sensing solutions to mitigate environmental safety concerns.

The cost of bad power significantly impacts commercial and industrial consumers through additional maintenance, repairs, and expensive machinery replacement. Add in the cost of lost productivity, the inability to produce and sell products and customer service issues, and poor power quality become an expensive problem for end-users.

The top power quality concerns expressed by survey respondents were voltage sags (51%), harmonics (49%), and voltage surges (45%). Although the most effective way to manage these issues is to measure them and analyze the data, 17% of utility respondents have no plans to address real-time power quality data.

CHART: Which specific concerns does your utility have around power quality?

Backfeed is another area of concern for the responding utilities as it involves power flowing in the reverse of typical power flows. Renewable integration and the expanded use of DERs increases the number of points for backfeed, resulting in both safety and power quality issues. Despite this concern, 82% of responding utilities said they do not currently measure backfeed.

In recent years, more homes and businesses started supplementing their power with solar and storage options. Within the same timeframe, most major car companies announced plans to develop more EV models to reduce carbon emissions. The emphasis on creating more EVs is driving 21% of the utility respondents to plan on integrating EVs onto their grids within the next five years. This move reinforces that backfeed is an issue that must be urgently addressed.

Although utilities are not measuring backfeed, there are several other uses for which measurement tools are being leveraged. More than two-thirds of the utility respondents identified reliability analysis data as the primary use case, followed by fault analysis (58%) and power flow (51%).

CHART: For which cases does your utility leverage data for accurate grid measurement and management?

The survey also provided some insight into the increased reliance utilities have on digital tools to better manage legacy infrastructure systems. More than two-thirds of the responding utilities started implementing grid connectivity applications, while half have already implemented outage detection and service restoration solutions.

Leveraging digital tools does not come without some challenges. According to the survey, 51% of the responding utilities say integration with internal and external IT systems is the most challenging aspect of implementing grid measurement and management systems.

The industry widely accepts that the best way to manage renewable integration is by collecting accurate data that will provide situational awareness of what is happening on the grid. However, 68% of utility respondents are not satisfied with the quality of data used in grid management systems.

"The concerns expressed by the utilities in this survey reinforce that Micatu's optical sensing technology is the most effective platform for managing the modern grid," Oshetski said. "Our non-conductive optical sensors are safe, affordable, and provide voltage, current, temperature, and vibration measurement far beyond what traditional equipment can provide."

Get the Full Report, "Managing the Growing Renewables Crisis"

A white paper covering the results of the entire survey is available at https://www.micatu.com/utility-survey .

About Micatu

Micatu is a driver of next-generation optical sensing technology. The company provides solutions for highly accurate grid measurements and analytics through a modular, optical sensing technology platform that is safer, more accurate, and more affordable. Micatu's optical sensing technology platform helps customers collect real-time data and grid visibility necessary for increased use of renewables and grid modernization. To learn more about Micatu's product portfolio and industrial solutions, please visit www.micatu.com.


Contacts

Media Contacts:
Michelle Hargis, Mercom Capital Group
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512-215-4452 (office)
817-798-5257 (mobile)

DUBLIN--(BUSINESS WIRE)--The "Oil and Gas TechVision Opportunity Engine" newsletter has been added to ResearchAndMarkets.com's offering.


This monthly TOE highlights innovation features, value propositions, industry impact of 12 monthly innovations along a particular theme, and includes strategic insights on the technology from a global perspective. Strategic insights include insights on IP, competitive landscape, key research focus areas, key success factors for technology adoption, and noteworthy funding details.

The Oil and Gas TechVision Opportunity Engine (TOE) provides intelligence on innovations pertaining to technologies, products and processes, along with strategic insights, in the upstream, midstream and downstream processes in the oil and gas industry.

Our scope encompasses hydrocarbon-based gas and oil exploration and production (E&P) technologies, materials and equipment used in E&P, and mainstream technologies such as storing and processing of natural gas.

Some upstream technologies covered are 3-D and 4-D seismic imaging, including seismic data acquisition, geophysical processing and characterization, and borehole seismic, drilling and completion technologies, well simulation and product optimization, well intervention, deepwater technologies for offshore oil and gas deposits.

Midstream technologies such as natural gas processing are covered in this TOE including natural gas sweetening, natural gas dehydration, NGL recovery, desulphurization.

Some downstream technologies profiled are crude oil refining, gas & LPG treatment, diesel & jet, vacuum gas oil conversion, and residue upgrading, Petrochemical integration is also profiled in our research, including aromatics, para-xylene and benzene, aromatics recovery, and olefins.

For more information about this newsletter visit https://www.researchandmarkets.com/r/cmkwfp


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that, on April 7, 2021, the Board of Directors of its general partner declared a distribution on Genesis’ common units and 8.75% Class A Convertible Preferred Units attributable to the quarter ended March 31, 2021. These distributions will be paid on May 14th, 2021 to holders of record at the close of business on April 30, 2021.


Each holder of common units will be paid a quarterly cash distribution of $0.15 ($0.60 on an annualized basis) for each common unit held of record. With respect to the preferred units, Genesis will pay a cash distribution of $0.7374 ($2.9496 on an annualized basis) for each preferred unit held of record.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.


Contacts

Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521

HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast to discuss its first quarter 2021 operational and financial results on Wednesday, May 5 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).


Join the webcast by visiting Magnolia’s website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia’s first quarter 2021 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call.

About Magnolia Oil & Gas

Magnolia is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.


Contacts

Brian Corales
713-842-9036
This email address is being protected from spambots. You need JavaScript enabled to view it.

Tools offered for free to advance sustainability across the logistics industry as standards heighten globally

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--C.H. Robinson is paving the way for more sustainable supply chains around the world by turning decades of logistics expertise into technology and data that any company can use to reduce its carbon footprint. Today it announced:



  • Emissions IQ™, which will be the first free, self-serve tool for customers to instantly show a company’s carbon emissions across all forms of transportation globally
  • A collaboration with MIT and the U.S. Environmental Protection Agency (EPA) that gives companies a standardized way to measure the emissions of their partial truckloads for the first time
  • Access to unparalleled data for companies to benchmark their carbon output against their industry and other shippers

In its pilot phase, Emissions IQ™ has already helped 125 companies reduce their carbon emissions by a total of 350,000 metric tons of CO2 equivalents. How much is that? As much carbon as 39 million gallons of gasoline would emit.

“You can only change what you can measure,” said C.H. Robinson’s Chief Human Resources and E.S.G. Officer Angie Freeman. “Even companies committed to sustainability have struggled to capture their emissions across complex, multi-faceted supply chains. By putting useful technology and data at their fingertips, we’re not only increasing the transparency of emissions in our industry, but we’re surfacing the best strategies for customers to make meaningful carbon reductions right now.”

Grappling with U.N. sustainability goals, regulatory requirements and consumer demand, companies have never been under more pressure to reduce greenhouse gas emissions in their supply chains. A recent C.H. Robinson customer research study revealed that sustainability is shippers’ second biggest pain point in 2021, and the number of companies planning to take action to reduce their carbon footprint has doubled since last year.

But to cut transportation emissions, companies first need to be able to measure them. Most aren’t equipped to do that easily across truck, rail, air and ocean transportation. For smaller shipments that share a truck with other companies’ goods, a standard for measuring hasn’t even existed. Without the necessary tools and data, many companies haven’t been able to pursue carbon reduction at all or are investing a lot of time and effort that could be automated and eliminated.

Emissions IQ™, the latest innovation from C.H. Robinson’s tech incubator Robinson Labs, is a tool that automatically calculates emissions and provides an easy visualization of a shipper’s carbon output. Emissions analysis across all transportation modes is available from C.H. Robinson now, and all modes will be available within the self-serve tool once ocean and air are added later this year. Accredited to use the Global Logistics Emissions Counsel (GLEC) framework, Emissions IQ™ gives shippers data that’s trusted and universally accepted.

Tempur Sealy – a global leader in designing, manufacturing and distributing bedding products – is already benefitting from C.H. Robinson’s sustainability tools.

“One of the most challenging aspects of our commitment to achieving carbon neutrality by 2040 is quantifying the emissions of our logistics operations and implementing strategies to reduce them,” said Scott Vollet, Tempur Sealy EVP of Global Operations. “C.H. Robinson’s advanced technology and thorough analysis highlighted opportunities to improve the efficiency of our supply chain, and their team provided the expertise to help us act on those insights. By making our supply chain more efficient, we reduced domestic carbon emissions by nearly 1,000 metric tons of CO2 equivalents and saved over $150,000 in just three months. We’re on track to quadruple that this year.”

To help companies address the emissions of less-than-truckload (LTL) shipments – which have skyrocketed because of the e-commerce boom – C.H. Robinson funded a project with MIT’s Center for Transportation & Logistics. That became the basis for a collaboration with EPA’s SmartWay program to establish a method specific to measuring those emissions. Accounting for the extra miles and higher fuel consumption of a truck making multiple pickups and deliveries, C.H. Robinson is sharing this advanced data model with the EPA to incorporate into its online tools. Companies will be able to instantly get a calculation of their LTL emissions.

While eliminating the time and effort of calculating emissions, C.H. Robinson is also giving companies a way to benchmark against others and track their progress over time. With a worldwide network of nearly 200,000 customers and carriers, C.H. Robinson offers the largest set of emissions benchmarking data in the industry. This information advantage, combined with C.H. Robinson’s expert global sustainability consultants, gives any company the building blocks for creating more sustainable supply chains.

“We’ve helped companies improve how they transport their goods for decades – constantly looking to reduce waste and improve performance in the supply chain,” said Freeman. “A more efficient supply chain is by nature a more sustainable one. As one of the world’s largest logistics platforms and the largest mover of truckload freight in the world, we’re in a position to create real impact on emissions now and in the future for our customers, our industry and our planet.”

Read more about how Emissions IQ™ works.

Read about C.H. Robinson’s mission to improve the world’s supply chains.

About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $21 billion in freight under management and 19 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit www.chrobinson.com (Nasdaq: CHRW).


Contacts

FOR MEDIA INQUIRIES, CONTACT:
Kelsey Soby, This email address is being protected from spambots. You need JavaScript enabled to view it.
Ben Kelner, This email address is being protected from spambots. You need JavaScript enabled to view it., 312.320.1406

SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE:VLO) is providing preliminary estimated ranges for certain financial information reflecting market and operating conditions experienced during the first quarter of 2021. Valero expects to report a net loss attributable to Valero stockholders in the range of $2.05 to $1.81 per share for the first quarter of 2021. The company expects electricity and natural gas costs incurred primarily by its refining and ethanol business segments to be higher than expected for the first quarter of 2021 due to the impacts of Winter Storm Uri. The preliminary estimated impact of excess energy costs included in the range of net loss attributable to Valero stockholders noted above is $1.18 to $1.14 per share. These estimated excess energy costs are reflected in the table below.


The company will host a conference call on April 22, 2021 at 10:00 a.m. ET to discuss first quarter 2021 earnings results, which will be released earlier that day, and provide an update on company operations and guidance for 2021.

Preliminary Estimated First Quarter of 2021 Financial Information

Although our financial statements for the first quarter of 2021 are not yet complete, certain preliminary estimated financial information is available. Based on such preliminary estimated financial information, we estimate the following ranges of financial information:

FINANCIAL HIGHLIGHTS
(millions of dollars, except per share amounts)
(unaudited)
 
Renewable
Refining (a) Diesel Ethanol Total
Low High Low High Low High Low High
Preliminary estimated statement of income data
Net loss attributable to Valero Energy Corporation
stockholders

$

(835

)

$

(735

)

Loss per common share - assuming dilution

$

(2.05

)

$

(1.81

)

 
Preliminary estimated impact of estimated excess energy costs
Amount reflected in cost of materials and other

$

(65

)

$

(60

)

$

-

$

-

$

-

 

$

-

 

$

(65

)

$

(60

)

Amount reflected in operating expenses (excluding
depreciation and amortization expense reflected below)

 

(470

)

 

(460

)

 

-

 

-

 

(60

)

 

(55

)

 

(530

)

 

(515

)

Total impact on operating income (a)

$

(535

)

$

(520

)

$

-

$

-

$

(60

)

$

(55

)

$

(595

)

$

(575

)

 
Impact of estimated excess energy costs included in
loss per common share - assuming dilution

$

(1.18

)

$

(1.14

)

 
(a) The estimated excess energy costs impacted the operating income of the refining segment regions as follows:
U.S. Gulf Coast region

$

(485

)

$

(475

)

U.S. Mid-Continent region

 

(45

)

 

(40

)

Other

 

(5

)

 

(5

)

Total

$

(535

)

$

(520

)

The preliminary estimated information set forth above does not represent a comprehensive statement of income for the first quarter of 2021. The final statement of our income for the first quarter of 2021 may vary from our current expectations and may be different from the information described above as our quarterly financial statement close process is not yet complete and additional developments and adjustments may arise between now and the time the financial information for this period is finalized. In addition, these preliminary estimates are not necessarily indicative of the results to be achieved for the remainder of 2021 or in any future period. There can be no assurance that these estimates will be realized, and estimates are subject to risks and uncertainties, many of which are not within our control. Accordingly, you should not place undue reliance on the preliminary estimated financial information.

Safe-Harbor Statement

Statements contained in this release that state the company’s or management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “believe,” “expect,” “should,” “estimates,” “intend,” “target,” “will,” “plans,” “forecast,” and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the company’s control, such as delays in construction timing and other factors, including but not limited to the impacts of severe weather and COVID-19. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual reports on Form 10-K, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission and available on Valero’s website at www.valero.com.

About Valero

Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 50 company based in San Antonio, Texas, and it operates 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 13 ethanol plants with a combined production capacity of approximately 1.69 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names. Please visit www.investorvalero.com for more information.


Contacts

Valero Contacts
Investors:
Homer Bhullar, Vice President – Investor Relations, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992

Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

Midland manufacturer uses patented tech to increase run-time, efficiency of MEA triazine

MIDLAND, Texas--(BUSINESS WIRE)--#chemicals--Shotwell Hydrogenics has launched a patent-pending hydrogen sulfide scavenger that makes the most of MEA triazine, extends operational life, and is less likely to form problematic solids. The product is powered by NRGMax®, a proprietary platform technology that makes active chemical ingredients perform better.


“MEA triazine has become a staple for customers who need to remediate toxic hydrogen sulfide gas,” says Russell Brown, President of Midland-based Shotwell Hydrogenics. “We’ve taken an MEA triazine and combined it with NRGMax technology to formulate a scavenger that outperforms what’s available on today’s market and addresses the issues that operators experience with standard 40% MEA triazine.”

In normal oilfield applications, MEA triazine is utilized to treat H2S, but “breakthrough” occurs when only 70-75% of the treatment chemical is spent. Meaning that 25-30% of the applied MEA triazine is never fully utilized before it becomes ineffective at neutralizing hydrogen sulfide. The NRGMax formulation has been field trialed and consistently shows that it’s 95-100% spent before breakthrough occurs, extending operational life and processing more pounds of H2S per gallon of treatment product.

“For customers to get the full value from their MEA triazine investment is a win for operational economics in addition to worksite safety,” says Brown. “In the bubble tower field trials that our partners have conducted, they’ve seen that our NRGMax MEA triazine lasts 20-40% longer than towers on the same pad using standard MEA triazine. When you combine that added run-time with the fact that we’re getting the maximum potential out of the product without fouling, you can start to tally up how the product will result in lower chemical, service, and logistics costs.”

Shotwell has completed bubble tower and static mixing application field trials with their new product. In multiple trials in the Permian Basin, a customer tested the product versus a standard 40% MEA triazine on a two well battery that utilized a 1,000-gallon bubble tower, both with an average inlet concentration of 120ppm H2S. The Shotwell product remediated H2S for 29.4 days compared to the control tower that lasted for 21 days without producing solids. Further, the NRGMax-powered blend treated 0.98 pounds per gallon, while the control only treated 0.70 pounds per gallon and wasted 30% of the MEA triazine.

“In this field trial, we utilized nearly 90% of the available triazine due to the NRGMax formula, and did so without creating solids. Because no solids were generated, the customer did not have downtime associated with cleaning out equipment and disposing of solids,” noted Derek Vaughn, Technical Director for BPS Oil & Gas who oversaw product development with NRGMax for Shotwell’s latest product. “In all of our field trials, we’ve seen that our formula is not likely to precipitate solids, even realizing as high as a 96% MEA triazine utilization. This is important because a customer will spend time and money each time they swap towers to rinse out solids or shut down production.”

Mirroring the success in bubble tower applications, in third-party field trials using the Shotwell MEA triazine in a static mixer application, an operator realized 20% efficiency gains with no solids generated.

The solution is available to service companies from Shotwell Hydrogenics and ships from Midland, Texas. Shotwell is a state-of-the-art, ISO9001:2015 certified and NSF (National Sanitation Foundation) certified chemical manufacturing plant capable of large volume production. Shotwell maintains a strict focus on quality assurance and quality control for all products.

About Shotwell Hydrogenics

Shotwell Hydrogenics is a chemical manufacturing facility that produces specialty products for the oil and gas industry, HI&I sector, and agricultural. Specializing in performance monitoring and chemical management services, Shotwell offers water-soluble toll blending, chemical selection, and verification. The Midland, Texas-based facility is ISO9001:2015 certified and is the exclusive manufacturer of NRGMax® and OpusMAX® products for the BPS Technology family of companies. Learn more at shotwellhydrogenics.com.

About BPS Oil & Gas

BPS Oil & Gas, LLC is a Texas-based technology company seeking to enhance how chemicals are utilized and deployed in Upstream, Midstream, and Downstream applications. Their proprietary NRGMax® host chemistry enhances end-product performance for a wide range of oil and gas chemicals. The results are more efficient applications and reduced operating costs for operators across the industry. Whether it’s in the oilfield, the pipeline, or at a refinery, BPS Oil & Gas is committed to significant return on customer investments. BPS Oil & Gas is a division of BPS Technology, a privately held holding company. Learn more at bpsoilandgas.com.


Contacts

Dawn McKenzie | VP of Marketing
817.809.8532 x 1029 | This email address is being protected from spambots. You need JavaScript enabled to view it.

NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that it has entered into an agreement to sell its Little Knife and Murphy Creek acreage interests in the Bakken in North Dakota to Enerplus Corporation for a total consideration of $312 million, effective March 1, 2021.


The sale consists of approximately 78,700 net acres, which are located in the southernmost portion of Hess’ Bakken position and not connected to Hess Midstream infrastructure. Net production from this acreage averaged 4,500 barrels of oil equivalent per day net to Hess in the first quarter of 2021.

“The Bakken is a core asset in our company’s portfolio,” CEO John Hess said. “Sale of the Little Knife and Murphy Creek acreage – the majority of which we were not planning to drill before 2026 – brings material value forward and further strengthens our cash and liquidity position.”

The sale is expected to close in May 2021, subject to customary closing conditions.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information is available at www.hess.com.

Cautionary Statements

This news 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. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. These forward-looking statements may include, without limitation, the expected timing and completion of the proposed sale and use of proceeds. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: the ability of our contractual counterparties to satisfy their obligations to us, the ability to satisfy the conditions to the proposed sale; contract and other laws, regulations and governmental actions applicable to our business; and other factors described in the Risk Factor section in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.


Contacts

Investor Contact:
Jay Wilson
(212) 536-8940
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Contact:
Lorrie Hecker
(212) 536-8250
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Specialty Oilfield Chemicals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.


Global Specialty Oilfield Chemicals Market to Reach $13.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Specialty Oilfield Chemicals estimated at US$10.6 Billion in the year 2020, is projected to reach a revised size of US$13.9 Billion by 2027, growing at a CAGR of 4% over the analysis period 2020-2027.

Demulsifiers, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$4.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inhibitors & Scavengers segment is readjusted to a revised 3.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 3.8% CAGR

The Specialty Oilfield Chemicals market in the U.S. is estimated at US$3.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2027 trailing a CAGR of 3.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Rheology Modifiers Segment to Record 4.2% CAGR

In the global Rheology Modifiers segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2027.

Select Competitors (Total 45 Featured):

  • AkzoNobel NV
  • Albemarle Corporation
  • BASF SE
  • Clariant
  • Ecolab
  • Halliburton Company
  • Kemira OYJ
  • Schlumberger Limited
  • Solvay S.A.
  • Stepan Company
  • The Dow Chemical Company

     

     

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

  • World 15-Year Perspective for Demulsifiers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Inhibitors & Scavengers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Rheology Modifiers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Friction Reducers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Specialty Biocides by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Specialty Surfactants by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Drilling Fluids by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Enhanced Oil Recovery by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Production by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Well Stimulation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027

III. GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 45

For more information about this report visit https://www.researchandmarkets.com/r/q3w6u6.


Contacts

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

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

Virgin Group company buys and restores 6.4 MW solar facility with additional weather resilience

ST. THOMAS, U.S. Virgin Islands--(BUSINESS WIRE)--BMR Energy, a Virgin Group company and developer, owner, and operator of clean energy projects in the Caribbean and Latin America, announced today that it is starting construction of the 6.4-megawatt (MWp) Donoe Solar farm in St. Thomas. The facility is expected to be completed and enter service in the fourth quarter of this year and will sell the power it generates to the Virgin Island Power and Water Authority (VIWAPA) under a newly negotiated 25-year Power Purchase Agreement.



The facility will be constructed on the site of a former solar facility that experienced significant damage during the devastating 2017 hurricane season. BMR agreed to acquire the site of the original solar farm in 2019 and closed on that purchase in the summer of 2020. The new facility incorporates several design and construction features to increase the strength and resilience of the equipment to withstand future windstorms.

The Solar farm will include more than 14,000 photovoltaic modules and has been designed with strengthened racking, foundations and module connection systems to withstand wind speeds up to 180 mph.

“After Hurricane Irma destroyed the plant nearly four years ago, our team was eager to fully understand the failures of the prior design and installation and build it back stronger,” said Bruce Levy, CEO of BMR Energy. “We’ve considered design recommendations from experts throughout the industry and conducted wind tunnel tests on all systems and equipment. With this resilient design, the facility will be able to deliver reliable, clean energy to the local community for decades to come.”

“WAPA welcomes the opportunity to enter another partnership with BMR Energy as we endeavor to diversify our generation mix. While this agreement increases the volume of solar energy we capture for electrical generation, this and other renewable projects set WAPA on a path to lower operating costs and reduced reliance on fossil fuel. These reductions will ultimately translate to savings for our customers,” said Interim Executive Director / CEO Noel Hodge.

This will be the second project BMR Energy will operate to provide electricity for the utility.

About BMR Energy
BMR Energy, a Virgin Group investment, is a developer, owner, and operator of clean energy projects in the Caribbean and Latin America. BMR Energy’s solution-minded team brings its industry expertise to efficiently executing projects that deliver affordable, sustainable energy generation. For more information, visit www.bmrenergy.com.

About Virgin Group
Virgin is a leading international investment group and one of the world's most recognized and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors including media & mobile, travel & leisure, financial services, music & entertainment, health & wellness, space, and renewable energy.

About WAPA
The Virgin Islands Water and Power Authority is an autonomous agency of the Virgin Islands Government which produces and distributes electricity and drinking water to residential and commercial customers in the territory. WAPA was created by the Fifth Legislature of the Virgin Islands in 1964 through Act No. 1248. Today, WAPA produces electrical power at plants on St. Thomas and St. Croix and distributes electrical service through smart grids to customers on St. Thomas, St. Croix, St. John, Hassel Island, and Water Island.


Contacts

Antenna Group for BMR Energy
This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Jean Greaux Jr
Director of Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
340-244-7330

Recent survey indicates that many homeowners are using their extra time at home to complete projects that require digging

SAN FRANCISCO--(BUSINESS WIRE)--With the arrival of spring, many Californians are thinking of starting projects to make their outdoor spaces more livable, and many of these projects will require digging. To help ensure these projects can proceed safely, and without disruptions to essential utility services that we all depend on to be able to stay connected during the ongoing pandemic, April is recognized as National Safe Digging Month. Pacific Gas and Electric Company (PG&E) and more than 1,000 other utilities support this nationwide public safety initiative to supported by to raise awareness about the importance of calling 811 to have underground utility lines marked in advance of any digging project.

Throughout the pandemic, many homeowners are using their extra time at home to complete projects that require digging, according to a recent national survey conducted by the Common Ground Alliance (CGA). In fact, the survey shows that one in five homeowners (20%) have been more likely to do a DIY home improvement involving digging since the pandemic began – particularly gardening projects, and 56% of homeowners who are planning to plant a tree or shrub this year said they were more likely to dig while having extra time at home. The most popular planned projects cited among surveyed homeowners who plan to dig include:

  • Planting a tree or shrub: 62%
  • Building a fence: 37%
  • Building a deck or patio: 32%
  • Installing a mailbox: 20%
  • Installing a pool: 6%
  • Something else: 26%

Additionally, of the millions of homeowners who plan to dig this year for projects like gardening, building a fence or deck, installing a mailbox and more, nearly two in five (37%) will put themselves and their communities at risk by digging without contacting 811 beforehand to learn the approximate location of underground utilities.

"With millions of Californians relying on essential utility services as they work and learn from home, it is of the utmost importance that everyone take advantage of the free call to 811 prior to digging. Our locate and mark crews are in the field every day helping to ensure digging projects of all sizes can proceed safely, without risk to life, health or property. Whether your project is large or small, from repaving a driveway to installing a fencepost, calling 811 three working days before excavating to have the locations of underground gas or electric lines marked will help keep you, your family and your neighbors safe and help you avoid potentially costly repairs,” said Joe Forline, PG&E senior vice president of Gas Operations.

According to the Common Ground Alliance’s damage information reporting tool, an underground utility line is damaged every nine minutes in the United States. This adds up to more than 200,000 preventable hits to underground utility lines nationwide annually. PG&E is urging customers to help prevent dig-ins by placing a toll-free call to 811 or an online request to have gas and electric lines marked free of charge three working days before the project begins.

Key Facts

  • In 2020, there were over 1,400 third-party dig-ins on PG&E’s underground infrastructure across Northern and Central California.
  • Of the over 1,400 dig-ins, nearly 800 resulted from not using 811 to have gas and electric lines marked in advance.
  • Of the third-party (customers or construction crews) dig-ins to PG&E’s lines in 2020, residential dig-ins accounted for 31%.
  • In 91% of residential dig-ins, 811 was not called in advance.

811 is a designated toll-free number for homeowners and professional excavators and is serviced by regional offices. Operators answering calls and emails will dispatch all necessary utilities to properly mark underground utility lines with paint or flags. Underground Service Alert of Northern/Central California and Nevada (USA North) is staffed 24 hours a day, seven days a week, and will provide Spanish and other translation services.

PG&E Safe Digging Tips:

Mark project area in white: Identify the digging location by drawing a box around the area using white paint, white stakes, white flags, white chalk or even white baking flour.

  • Call 811 or go online for a USA ticket three working days before digging: Be prepared to provide the address and general location of the project, project start date and type of digging activity. PG&E and other utilities will identify underground facilities in the area for free.
  • Dig safely: Use hand tools when digging within 24 inches of the outside edge of underground utility lines. Leave utility flags, stakes or paint marks in place until the project is finished. Backfill and compact the soil.
  • Mind the lines: If the utility line is visible, dig in parallel with the utility line and use all precautions when removing the soil from around the utility line.
  • Be aware of signs of a natural gas leak: Smell for a “rotten egg” odor, listen for hissing, whistling or roaring sounds and look for dirt spraying into the air, bubbling in a pond or creek and dead/dying vegetation in an otherwise moist area.

PG&E urges customers to call 911 and then PG&E at 1-800-743-5000 if there’s a suspected gas leak. If an accidental dent, scrape or other damage is made to a gas pipeline, those nearby must leave immediately and alert others to avoid the area. Only when a safe distance away should anything that might create a spark such as cell phones, matches, garage door openers, vehicles, or yard equipment be used.

About CGA

CGA is a member-driven association of nearly 1,700 individuals, organizations and sponsors in every facet of the underground utility industry. Established in 2000, CGA is committed to saving lives and preventing damage to North American underground infrastructure by promoting effective damage prevention practices. CGA has established itself as the preeminent source of damage prevention data and information in an effort to reduce damages to underground facilities in North America through shared responsibility among all stakeholders. For more information, visit CGA on the web at http://www.commongroundalliance.com.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.


Contacts

MEDIA RELATIONS:
415-973-5930

HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared the quarterly cash distribution paid to limited partners holding Enterprise common units with respect to the first quarter of 2021 of $0.45 per unit, or $1.80 per unit on an annualized basis.


The quarterly distribution will be paid Wednesday, May 12, 2021, to unitholders of record as of the close of business Friday, April 30, 2021. This distribution represents a 1.1 percent increase over the distribution declared with respect to the first quarter of 2020. Enterprise has increased its cash distribution rate for 22 consecutive years.

Enterprise will announce its earnings for the first quarter of 2021 on Monday, May 3, 2021, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9 a.m. CT with analysts and investors to discuss earnings. The call will be webcast live on the Internet and may be accessed through the “Investors” section of the partnership’s website at www.enterpriseproducts.com. To listen to the webcast, participants should access the partnership’s website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and may be accessed one hour after completion of the call.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets currently include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Enterprise’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Enterprise’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.


Contacts

Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Projects, H1 2021 - Outlook of Major Projects in Saudi Arabia - MEED Insights" report has been added to ResearchAndMarkets.com's offering.


The COVID-19 pandemic has in most countries caused significant disruption to the projects market and Saudi Arabia has been no exception. As the coronavirus took hold and the kingdom went to economic lockdown in the Spring, the government announced a raft of measures including a cut back in projects spending as its revenues from oil sales declined sharply.

The impact is no better highlighted than in the performance of the projects market. For 2020 as a whole, just $18.2bn worth of contracts were awarded in total, making last year the worst year in at least a decade. Indeed, only a paltry $5bn worth of deals were let in the second six months of the year as the economy drew almost to a halt.

Nonetheless, the projects market is expected to rebound fairly strongly this year as life returns to normal and the crude price exceeds $60 a barrel. The government is also talking bullishly by recommitting to its ambitious projects spending plans under its 2030 Vision. It has also doubled downed on its self-styled 'gigaprojects' programme which is set to transform the economic landscape in the kingdom.

Increased government spending and a growing backlog of projects should combine to see overall project spending to rise to more than $36bn in 2021 which would be on par with the totals seen in the 2017-19 period. However, the kingdom is still vulnerable to the vagaries of the oil price and investor confidence, and it remains to be seen whether it can successfully push through with its plans in the long-run.

Reasons to Buy

  • Opportunities and challenges in the kingdom's projects market
  • Analysis of the pipeline of planned projects and contract awards 2021-2023
  • Key policies and drivers shaping the outlook for projects in Saudi Arabia
  • Political and economic background
  • The barriers and challenges that may arise
  • Sector-by-sector breakdown of future project plans
  • Key drivers of projects in each sector
  • Saudi Arabia's most valuable key projects and major project sponsors

Key Topics Covered:

Preface

  • Executive Summary
  • Saudi Arabia Country Overview
  • Saudi Arabia Projects Market
  • Oil and Gas
  • Construction
  • Transport
  • Industrial
  • Power and Water

List of Tables

  • Top Projects
  • Biggest planned and un-awarded projects in Saudi Arabia
  • Top Oil and Gas Sector Projects
  • Biggest planned and un-awarded Oil and Gas projects in Saudi Arabia Due in Bidding Stage
  • Biggest planned and un-awarded Oil and Gas projects in Saudi Arabia at Design, FEED or Study Stage
  • Top Construction Sector Projects
  • Biggest planned and un-awarded Construction projects in Saudi Arabia Due in Bidding Stage
  • Biggest planned and un-awarded Construction projects in Saudi Arabia at Design, FEED or Study Stage
  • Top Transport Sector Projects
  • Biggest planned and un-awarded Transport projects in Saudi Arabia Due in Bidding Stage
  • Biggest planned and un-awarded Transport projects in Saudi Arabia at Design, FEED or Study Stage
  • Top Industrial Sector Projects
  • Biggest planned and un-awarded Industrial projects in Saudi Arabia Due in Bidding Stage
  • Biggest planned and un-awarded Industrial projects in Saudi Arabia at Design, FEED or Study Stage
  • Top Power and Water Sector Projects
  • Biggest planned and un-awarded Power and Water projects in Saudi Arabia Due in Bidding Stage
  • Biggest planned and un-awarded Power and Water projects in Saudi Arabia at Design, FEED or Study Stage

For more information about this report visit https://www.researchandmarkets.com/r/j9j3y5


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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