HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its Board of Directors (“Board”) has appointed Patricia K. Collawn and Lorraine Mitchelmore to serve as members of the Board, effective July 1, 2021. Ms. Collawn and Ms. Mitchelmore are considered independent directors. Ms. Collawn has been appointed to the Audit and Compensation Committees and Ms. Mitchelmore has been appointed to the Audit and Governance and Nominating Committees.
Ms. Collawn is the Chairman, President and Chief Executive Officer of PNM Resources, Inc. (“PNM Resources”) (NYSE: PNM), an energy holding company based in New Mexico. Ms. Collawn joined PNM Resources in 2007 from Public Service Company of Colorado, where she served as President and CEO. Ms. Collawn has served on the board of directors of Equitrans Midstream Corporation (NYSE: ETRN) since April 2020, and previously served on the board of directors of CTS Corporation (NYSE: CTS). Ms. Collawn also previously served as Chairman of the Electric Power Research Institute and Chairman of the Edison Electric Institute. Ms. Collawn received a Bachelor of Arts degree from Drake University and a Master of Business Administration degree from Harvard Business School.
Ms. Mitchelmore has over 30 years of international oil and gas industry experience and most recently served as President and CEO of Enlighten Innovations Inc., a Calgary-based clean technology company. Ms. Mitchelmore is also the Former Executive Vice President, Americas Heavy Oil for Royal Dutch Shell, and Former Shell Canada Limited President and Canada Country Chair. Ms. Mitchelmore has served on the board of directors of Suncor Energy, Inc. (NYSE: SU) since November 2019, and the Bank of Montreal (NYSE: BMO) since May 2015. Ms. Mitchelmore previously served on the board of directors of TransMountain Corporation. Ms. Mitchelmore received a Bachelor of Sciences degree from Memorial University of Newfoundland, a Master of Sciences degree from the University of Melbourne, Australia, and a Master of Business Administration degree from Kingston Business School in London.
“We are pleased to announce the appointment of Patricia and Lorraine to our Board today,” said Andrea Botta, Cheniere’s Chairman of the Board. “Their respective decades of relevant experience leading large organizations in the energy industry bring significant capabilities and diversity to our Board. Patricia and Lorraine’s demonstrated expertise in driving improvement in environmental and sustainability performance are key assets which will further enhance our ESG programs, integration of our climate strategies, and strengthen our competitive advantages as we continue to position Cheniere as a reliable, growing liquefaction operator that is taking a leadership position in the global transition to cleaner energy.”
Cheniere also announced today that Nuno Brandolini has retired from its Board, effective July 1, 2021. Mr. Brandolini has served as a member of the Board since 2000 and was a member of the Governance and Nominating and Compensation Committees.
“Nuno’s contributions to Cheniere over the years have played a significant part in the successful development and execution of our strategy,” said Andrea Botta. “I’d like to personally thank him for his valuable insights and dedicated service to Cheniere, and I wish him well in his future endeavors.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Media Relations
Eben Burnham-Snyder, 713-375-5764
Jenna Palfrey, 713-375-5491
The Press Office of the Burlakov family and Lyudmila Burlakova
LONDON--(BUSINESS WIRE)--It is with deep sorrow that the Burlakov family confirms the death of Oleg Burlakov who passed away on 21st June 2021 in Moscow aged 72.
Oleg is survived by his wife Lyudmila and two daughters Veronica and Elena. The family are mourning his loss and ask for privacy at this very difficult time.
It is the family’s sincere wish that an independent international expert establish the circumstances surrounding his death after what is believed to be a brief battle with COVID 19.
Oleg was a Russian businessman best known as the owner and visionary behind the Black Pearl, a trailblazing eco-sailing yacht which he commissioned in 2010.
Konstantin Dobrynin, a lawyer for Oleg Burlakov’s wife and daughters, a former senator, made the following statement:
“Like every family, at a moment like this, Lyudmila Burlakova and her daughters, Elena and Veronica wish to be allowed to commence the grieving process for their husband and father Oleg Burlakov. They call on all extended family members and associates of the deceased to respect his memory.”
Media enquiries for the Burlakov family
Tancredi Intelligent Communication
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+44 7957 549 906 | +44 7449226720
Konstantin Dobrynin
TULSA, Okla.--(BUSINESS WIRE)--In conjunction with Helmerich & Payne, Inc.’s (NYSE: HP) fiscal third quarter 2021 earnings release, you are invited to listen to its conference call on Thursday, July 29, 2021, at 11:00 a.m. (EDT) with John Lindsay, President and CEO, Mark Smith, Senior Vice President and CFO, and Dave Wilson, Vice President of Investor Relations. Investors may listen to the conference call either by phone or audio webcast.
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Helmerich & Payne, Inc.’s Fiscal Third Quarter 2021 Earnings Release. Other material developments may also be discussed. |
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11:00 a.m. EDT (10:00 a.m. CDT), Thursday, July 29, 2021 |
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Visit http://www.helmerichpayne.com then click on “Investors” and then click on “News & Events – Event & Presentations” to find the link to the webcast. |
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Dave Wilson, This email address is being protected from spambots. You need JavaScript enabled to view it., 918-588-5190 |
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If you are unable to listen during the live webcast, the call will be archived for 365 days on Helmerich & Payne, Inc.’s website, http://www.helmerichpayne.com, under “News & Events – Event & Presentations”, which can be accessed through the “Investors” section of the website.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its investor relations website at www.helmerichpayne.com.
Dave Wilson, This email address is being protected from spambots. You need JavaScript enabled to view it., 918-588-5190
ION Energy’s advanced electronics and software platforms can support Amazon’s commitment to meeting The Climate Pledge, a commitment to be net-zero carbon by 2040
MUMBAI, India--(BUSINESS WIRE)--#AllElectricFuture--ION Energy, an energy-tech startup building advanced electronics and software platforms for new energy enterprises, today announced it has raised $3.6 million in Pre-Series A funding. The round was raised from Amazon’s Climate Pledge Fund and joined by Silicon Valley-based Climate Capital, early-stage investor YourNest Venture Capital, Riso Capital, Venture Catalysts, and other angel investors. The funds will be used to grow the ION team to 125+ (currently 70), invest in product development, and expand the software business in North America and Europe.
As part of the round, Anup Menon, Head of Strategy & Emerging Technology at Bank of America will join ION’s Board of Directors.
“Globally, we believe 2021 will be the inflection point for the new energy transition as both companies and governments come together towards reducing carbon emissions. At ION, we’re confident that advanced electronics and software that help enterprises accelerate this transition will become mission-critical to meet our goals of a zero-carbon future,” said Akhil Aryan, Co-founder and CEO of ION Energy.
Founded in 2016, the five-year-old startup is headquartered in India, with operations in France and the U.S. ION’s flagship offering is a smart battery management platform (BMS) that leverages proprietary algorithms to improve battery life and performance. The BMSs are typically sold as a product or a technology license to original equipment manufacturers (OEMs) that are developing lithium-ion batteries and/or electric vehicles.
Today, the company works with more than 75 customers in the mobility and energy industry across 15 countries, including India, France, Spain and the U.S. Most recently, ION announced its partnership with Spanish Electric Scooter startup, Ray Electric Motors. To date, ION’s customers have deployed 60,000 smart BMS in electric vehicles and stationary storage systems.
In 2019 with the increase in deployments, the company recognized the need for a dedicated battery analytics software and launched Altergo (previously Edison Analytics). Altergo is currently focused on helping owners and operators of battery fleets improve the operational efficiency of their assets post-deployment. Last year, leading U.S. energy storage developer, esVolta announced it is deploying Altergo across its entire portfolio of battery storage systems, totaling to 581MWh.
“As we continue to identify visionary companies whose products and solutions will facilitate the transition to a low-carbon economy, we’re proud to invest in ION Energy, our first investment in India through the $2 billion Climate Pledge Fund,” said Kara Hurst, vice president and head of Worldwide Sustainability at Amazon. “We are inspired by ION’s mission to build technologies that improve the life and performance of lithium-ion batteries that power electric vehicles and energy storage systems, ultimately scaling solutions that help us all achieve our ambitious climate goals.”
Amazon launched The Climate Pledge Fund in 2020, a $2 billion fund to support companies developing sustainable technologies for a zero-carbon future. To date, Amazon has invested in visionary companies across industries including BETA Technologies, CarbonCure Technologies, Infinium, Pachama, Redwood Materials, Rivian, TurnTide, ZeroAvia, and now ION Energy.
This round of investment will enable ION to serve the customers that are in its $15M+ order pipeline and invest into growing the SaaS business exponentially.
About ION Energy
Founded in 2016, ION Energy’s mission is to Accelerate the Earth's transition to an All-Electric Future. The company builds advanced electronics & software platforms for new energy companies. The company’s flagship product is their Battery Management System (BMS), which enables OEMs/Battery Pack Makers to deploy smart battery systems.
ION supplies to 75+ OEMs across 15 countries including India, France, Spain and the US. Since its inception, it has deployed over 60,000 smart BMS in electric vehicles and stationary storage systems.
In 2019, ION launched Altergo (previously called Edison Analytics), a digital twin platform for battery intelligence. Altergo now manages 700+ MWh of battery storage in the cloud.
For more information, visit www.ionenergy.co.
Jeet Jhaveri,
Chief of Staff, ION Energy
+91 98201 02272
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EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary second quarter 2021 earnings results after the market close on Wednesday, July 28, 2021, followed by a conference call at 10:00 a.m. CT on Thursday, July 29, 2021. Interested parties may participate by dialing 1-833-968-2218 and referencing conference ID number 6739389. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest, and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Investor Relations Analyst
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HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Dr. Emily Reichert, Ph.D. to its Board of Directors. Dr. Reichert will also serve as a member of the Nominating, Governance and Sustainability Committee. In connection with Dr. Reichert’s appointment, the Board increased its size to eight directors.
Dr. Reichert currently serves as Chief Executive Officer of Greentown Labs, North America’s largest climate tech startup incubator. She has led the rapid growth of Greentown Labs into a global center for climate tech solutions innovation. Based in Boston, MA, Greentown Labs recently opened its second incubator hub in Houston, TX. Dr. Reichert earned her doctorate in physical chemistry from the University of Wisconsin and Masters of Business Administration from the Massachusetts Institute of Technology – Sloan School of Management where she also served as a Sloan Fellow in Innovation and Global Leadership.
Cris Gaut, FET’s Chairman of the Board, remarked, “I am pleased to welcome Dr. Reichert to FET’s Board as an independent director. Her significant wealth of experience with the development and commercialization of clean technology will have an immediate beneficial impact. FET is focused on the development of energy products and technologies, including those that reduce GHG emissions and support clean energy. Nearly 10% of FET’s revenue currently comes from non-oil and gas related products, and we are committed to expanding our strategic focus on sustainable and new energy products and technologies. Dr. Reichert’s appointment will accelerate this strategic market expansion for FET.”
Dr. Reichert stated, “FET’s leadership recognizes both the challenge and opportunity to be seized in the global energy transition that is already underway. I join FET’s Board of Directors to help demonstrate that companies serving the traditional energy industry can profitably transition to a decarbonized future. As founding CEO of Greentown Labs, I am excited to share my experience and insights from a decade of supporting entrepreneurs drive clean energy solutions to market.”
FET (Forum Energy Technologies) is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.
Lyle Williams
Executive Vice President and Chief Financial Officer
713.351.7920
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ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (the "Company") (NYSE: DAC) today announced that it has exercised its option to acquire the remaining equity interests in its joint venture Gemini Shipholdings Corporation ("Gemini"). The purchase price for the 51% of Gemini not already owned by the Company is $86.7 million in cash, while the net cash outflow for the Company will be approximately $72.3 million, which is the purchase price net of $14.4 million of the Gemini cash balance on June 30, 2021.
Gemini owns a fleet of five containerships, with an aggregate capacity of 32,531 TEU, each of which is employed on a time charter. Contract coverage for the Gemini vessels stands at 100% for the next 12 months while the weighted average contract duration of the Gemini fleet is 3.8 years, weighted by contracted revenues.
Upon completion of the acquisition, the Company will own 100% of Gemini and consolidate Gemini within its financial results. The consolidation of Gemini will increase the Company's contracted revenue by approximately $160 million and the Company's contracted EBITDA by approximately $117 million in total. For the next 12 months, all of Gemini's vessels are employed on time charters and expected to contribute contracted EBITDA of $31 million through June 30, 2022. Gemini's total debt and net debt, which will be assumed and consolidated by the Company, was $45 million and $30.6 million, respectively, as of June 30, 2021.
Gemini has a solid credit and business profile with a Net Debt / NTM EBITDA ratio of 1x and strong contract coverage which provides significant stability and visibility.
Clarksons Platou Securities acted as financial advisor to an independent committee comprised solely of independent and disinterested members of the Company's Board of Directors, which approved the transaction.
About Danaos Corporation
Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our fleet of 65 containerships aggregating 403,793 TEUs, including the five vessels owned by Gemini Shipholdings Corporation, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world’s largest liner companies on fixed-rate charters. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol “DAC”.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect the current views of Danaos Corporation (including subsidiaries unless indicated or the context requires otherwise, the “Company,” “we,” “us,” and “our”) with respect to future events and financial performance and may include statements concerning our operations, cash flows, financial position, including with respect to vessel and other asset values, plans, objectives, goals, strategies, future events, performance or business prospects, changes and trends in our business and the markets in which we operate, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the impact of the novel coronavirus 2019 (“COVID-19”) pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to fulfill their obligations to us, charter rates for containerships, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing, the effects of its debt refinancing transactions, the Company’s ability to achieve the expected benefits of its refinancing transactions and comply with the terms of its credit facilities and other agreements entered into in connection with the such refinancing, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by Danaos Corporation with the U.S. Securities and Exchange Commission.
The forward-looking statements and information contained in this announcement are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Company:
Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6480
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Iraklis Prokopakis
Senior Vice President and Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6400
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Investor Relations and Financial Media
Rose & Company
New York
Tel.: 212-359-2228
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Development continues to expand into the goods delivery sector with fleets for food delivery, trucks for long-haul freight deliveries, and robotaxi services
BOULDER, Colo.--(BUSINESS WIRE)--#ADV--A new report from Guidehouse Insights examines the size of global and regional markets for light duty consumer and commercial vehicles with highly automated driving capabilities, providing global market forecasts through 2030.
Despite the challenges posed by the COVID-19 pandemic in 2020, the automated driving (AD) sector made slow but steady progress toward commercialization. While there are still no broad deployments of automated vehicles (AVs) anywhere in the world, the number of pilot programs has continued to grow. According to a new report from Guidehouse Insights, automated vehicle deployments for passengers and goods delivery are expected to near 14 million by 2030.
“Most of the pilot deployments of AVs were disrupted to varying degrees as a result of the 2020 pandemic; however, development work continued largely unabated with more emphasis on simulation,” says Sam Abuelsamid, principal research analyst with Guidehouse Insights. “Most AV companies made changes to processes and vehicles to ensure the health and safety of the operators testing the vehicles and any passengers riding in the vehicles.”
During the pandemic, several companies moved into the goods delivery sector. Some used fleets to make food deliveries while others expanded trucking development or launched public robotaxi pilots. However, continued consolidation of the market in the coming decade is expected as many startups that sprouted in recent years have not survived this period.
The report, Market Data: Automated Vehicles, provides projections of the size of global and regional markets for light duty consumer and commercial vehicles with highly automated driving capabilities. Baseline, conservative, and aggressive scenarios for market deployment are included, as well as market splits among consumer, robotaxi, and goods delivery vehicles through 2030. Baseline forecasts for partial AVs are also included. 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 10,000 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: Automated Vehicles, 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.
Lindsay Funicello-Paul
+1.781.270.8456
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AKRON, Ohio--(BUSINESS WIRE)--$BW #carboncapture--Babcock & Wilcox (B&W) (NYSE: BW) Environmental announced today that it will support Amager Resource Center’s (ARC) application for more than €120 million ($140 million USD) in European Union funding to build an advanced carbon dioxide (CO2) capture facility at ARC’s Amager-Bakke (Copenhill) waste-to-energy facility in Copenhagen, Denmark.
B&W has submitted a letter of support for ARC’s funding application to the E.U.’s Innovation Fund and intends to collaborate closely with Italy-based Saipem and Denmark-based Novozymes to develop the project if funding is approved and ARC selects the team’s proposal.
B&W will utilize its significant operational and engineering knowledge of the facility’s process systems as well as its SolveBright™ regenerable solvent technology to facilitate an integrated design. B&W previously designed and supplied the combustion and emissions control systems, including the advanced DynaGrate® waste-to-energy combustion grate, for the state-of-the-art Copenhill plant.
“B&W’s ClimateBright™ decarbonization technologies, including our SolveBright regenerable solvent process, have positioned us as a clear leader in combatting greenhouse gas emissions and climate change worldwide,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “We’re excited to build on our strong relationship with ARC and leverage our market-leading technology to support its funding application for this important project. We’re also pleased to help Copenhagen meet its objective to become the first carbon-neutral world capital by 2025.”
As part of the ClimAid Copenhagen initiative, ARC announced plans to install CO2-capture technology at Copenhill and capture and sequester 500,000 tonnes of CO2 annually.
“It is crucial that the private sector invests in the green transition. ARC is pleased that B&W – with their significant insights to the plant as the technology provider and O&M (operations and maintenance) supplier – has announced its dedication to maturing carbon capture by developing enzyme-accelerated methods to capture CO2,” said Jacob H. Simonsen, Chief Executive Officer at Amager Resource Center. “B&W’s CCS technology (SolveBright), together with developing enzyme-accelerated alternatives to traditional methods of carbon capture, will help to build knowledge and can potentially make the process more effective and sustainable, resulting in reduced cost for the green transformation. It is in the interest of ARC, Denmark and the global climate.”
SolveBright technology is part of B&W’s complete suite of ClimateBright decarbonization technologies and was developed by B&W in conjunction with university researchers. The patented technology was successfully piloted by B&W, in addition to being selected by the U.S. Department of Energy to be the first technology used by the U.S. National Carbon Capture Center’s scrubbing system.
To learn more about B&W’s ClimateBright decarbonization technologies, please visit babcock.com/decarbonization.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to funding for, and B&W’s potential participation in, the building of an advanced carbon dioxide (CO2) capture facility at ARC’s Amager-Bakke (Copenhill) waste-to-energy facility in Copenhagen, Denmark. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake 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
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
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Releases energy from hundreds of battery storage systems across North America during critical period peak events in June
Contributes to emergency grid capacity as leading demand response and grid services provider
MILLBRAE, Calif.--(BUSINESS WIRE)--#STEM--Stem, Inc. (“Stem” or “the Company”), a global leader in artificial intelligence (AI)-driven energy storage services, today announced that the Company dispatched its portfolio of more than 500 megawatt-hours (MWh) enrolled in demand response and grid services programs during heat waves in the United States and Canada throughout the month of June. In that time, Stem’s Athena® software responded to almost 4,000 site events across 10 different utility programs and more than 400 customer sites in California, Massachusetts, New York and Ontario, Canada.
During California’s statewide record-setting heat wave during the week of June 14, 2021, Stem dispatched its portfolio of operating energy storage systems in response to California Governor Gavin Newsom’s Extreme Heat Event and Flex Alerts from California Independent System Operator (California ISO), the nonprofit that manages the state’s power grid.
At the same time, as the East Coast of the United States and Ontario experienced heat related events, Athena® dispatched energy storage systems in wholesale markets and utility programs to help eastern utilities and grid operators maintain system stability.
An increase in energy demand during heat waves can create significant stress on the electrical grid. Stem’s Athena® intelligent software automatically operates energy storage systems to reduce customers’ energy costs and instantly responds to signals received from the grid operators to dispatch available capacity when and where it is urgently needed. This helps to stabilize the grid by flattening electricity usage peaks and delivering power to the most constrained parts of the grid. Athena® co-optimizes the value of flexible energy in real time, incorporating dynamic conditions such as energy prices, local grid capacity constraints, tariff-based program events and severe weather conditions. The Company’s technology provides fast-response and backup power while reducing greenhouse gas (GHG) emissions and reliance on diesel generators and fossil fuels.
“Utilities across the country continue to see the value of Stem’s demand response and grid services, allowing them to call for demand reduction without impacting customer operations,” said Julie Steury, Vice President of Program Operations at Stem. “This is accomplished through use of our virtual power plants. We are prepared to continue to support grid operators and retail utilities in reducing power outages in the coming summer months.”
Stem was the first energy storage provider to launch and integrate a battery storage virtual power plant (VPP) into California wholesale markets as a demand response resource. Today, Stem has more than 950 systems representing about 1.1 gigawatt-hours (GWh) contracted or operating in more than 75 jurisdictions.
About Stem, Inc.
Stem, Inc. (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
Cautionary Statement regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. Federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about the reduction of greenhouse gas (“GHG”) emissions; the integration and optimization of energy resources; the business strategies of Stem and those of its customers; the global commitment to decarbonization; and future results of operations. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon assumptions and estimates that, while considered reasonable by Stem and its management, depend upon inherently uncertain factors and risks that may cause actual results to differ materially from current expectations, including our inability to help reduce GHG emissions; our inability to seamlessly integrate and optimize energy resources; our inability to achieve our financial and performance targets and other forecasts and expectations; our inability to recognize the anticipated benefits of our recent business combination with Star Peak Energy Transition Corp. (“Star Peak”); our ability to grow and manage growth profitably; risks relating to the development and performance of our energy storage systems and software-enabled services; the risk that the global commitment to decarbonization may not materialize as we predict, or even if it does, that we might not be able to benefit therefrom; our inability to secure sufficient inventory from our suppliers to meet customer demand, and provide us with contracted quantities of equipment; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; and other risks and uncertainties set forth in the section entitled “Risk Factors” in the definitive proxy statement relating to the business combination filed by Star Peak on March 30, 2021 and other documents we file with the SEC in the future. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of the press release, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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Stem Media Contacts
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Jim Park and the Compliant Directors are Blatantly Seeking to Distract from What Really Matters – the Need for a More Independent Board that Will Act in the Best Interests of All Shareholders
Mr. O’Shaughnessy Refutes GeoPark’s Numerous False Claims, Attempts at Revisionist History and Specific Mischaracterizing of Mr. O’Shaughnessy’s Pledged Shares – Which He is Committing to Eliminate if Reinstated to the Board
Shareholders Should Vote AGAINST Four Company Nominees at Upcoming Annual Meeting
WICHITA, Kan.--(BUSINESS WIRE)--Gerald O’Shaughnessy, the co-founder, former Chairman and second largest shareholder of GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK) today issued the below statement setting the record straight regarding numerous false claims, mischaracterizations and attempts to distract shareholders published today by GeoPark’s Board of Directors:
“It is disappointing that the current GeoPark Board has resorted to a campaign of misinformation instead of engaging in an honest debate around what really matters: how best to ensure the future success of the Company and maximizing returns for all its shareholders. It is extremely telling that in the more than 40 pages of material published by the Board today, not once do they address the strategic inflection point and future challenges GeoPark is facing.
As the second largest investor in the Company, my interests are fully aligned with those of my fellow shareholders. This is why I believe it is imperative to make clear the following:
***
A vote AGAINST four incumbent directors is a vote to send a message that change is needed on the Board at GeoPark that will benefit all of the Company’s shareholders. You can vote AGAINST these directors either by voting on GeoPark’s proxy card, or by voting on the BLUE proxy card included in these materials.
VOTE AGAINST FOUR GEOPARK DIRECTOR NOMINEES TO SIGNAL THAT YOU DEMAND CHANGE IN ORDER TO PROTECT YOUR INVESTMENT
Investors:
D.F. King & Co., Inc.
Edward McCarthy / Richard Grubaugh
(212) 269-5550
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Media:
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Dan Zacchei / Joe Germani
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HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) announced today that it will redeem the entire outstanding principal amount of its 3.25% Senior Notes due 2021 (the “Notes”). The redemption date for the Notes is August 15, 2021. The aggregate principal amount of the Notes outstanding is $500 million. The redemption price for the Notes will consist of 100% of the principal amount of the Notes outstanding, plus accrued and unpaid interest on the Notes, if any, up to, but excluding, the redemption date. Halliburton plans to use cash on hand to fund the redemption of the Notes.
A notice of redemption is being sent to all currently registered holders of the Notes by the Trustee, The Bank of New York Mellon Trust Company, N.A.
This press release is not an offer to sell or a solicitation of an offer to buy any securities.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in our Annual Report on Form 10-K for the year ended December 31, 2020. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 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 Investors:
Abu Zeya
Investor Relations
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281-871-2688
For News Media:
Emily Mir
External Affairs
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281-871-2601
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 provides a production and operations update related to its properties in Colombia.
As announced on May 17 and June 1, extensive protests and demonstrations across Colombia affected overall logistics and supply chains, restricting GeoPark’s crude oil transportation, drilling and the mobilization of personnel, equipment and supplies in the Llanos 34 (GeoPark operated, 45% WI), CPO-5 (GeoPark non-operated, 30% WI) and Platanillo (GeoPark operated, 100% WI) blocks. These events caused the Company to manage production curtailments beginning May 8.
Overall conditions continued improving during June in the Llanos basin with the Llanos 34 and CPO-5 blocks increasing production to normal levels. Remaining blockades restricting the Company’s operations in the Putumayo basin were lifted last week, thus allowing GeoPark to resume production in the Platanillo block, that was shut in since May 12.
Drilling and field operations are also in full activity with four drilling rigs (three of them operated) and two workover rigs in service in the Llanos basin – as well as with facilities expansion and construction underway.
GeoPark’s consolidated oil and gas production is currently at 38,000-39,000 boepd, compared to an average production of 38,131 boepd in 1Q2021. Even with the protest-driven curtailments, the Company’s consolidated oil and gas production is expected to average approximately 36,500 boepd in 2Q2021. More detailed information on production and the work program will be provided in the upcoming 2Q2021 operational update to be released in mid-July.
Since the start of the demonstrations, GeoPark has successfully planned and implemented a wide range of alternative logistics to minimize curtailments, accelerate the resumption of drilling and maintenance activities and provide continued support to field teams and local communities.
NOTICE
Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.
Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.
This press release contains certain oil and gas metrics, including information per share, operating netback, reserve life index and others, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.
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 protests and demonstrations in Colombia, expected or future production, production growth and operating and financial performance, future opportunities in 2021, our 2021 oil and gas production guidance and work program and our capital expenditure plan. 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).
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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MEDIA:
Communications Department
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LAHTI, Finland--(BUSINESS WIRE)--#AnttiKemppi--Kemppi Group Oy, the owner of Kempower Oy, acquires a business property managed by S-Bank Properties, including 10 300 m2 of factory space. The new facility will enable Kempower to scale up production by approximately 500% compared to its current capacity. Kempower will gradually ramp up production in 2021-2022.
Kempower, a leading e-mobility charging technology provider in the Nordics, responds to the rapidly growing e-mobility market demand by scaling up production gradually by the end of 2022. Kemppi Group Oy, the owner of Kempower Oy, acquires a business property including 10 300 m2 of factory space. The business property includes extensive unused building right to further expand production in the future. The seller in the transaction is the insurance group Fennia, for which S-Bank's subsidiary S-Bank Properties Ltd provides real estate portfolio management and administration services.
The factory, originally built in 2007 and expanded in 2020, is located in Rälssinkatu 1, Lahti, Finland, with excellent transport connections. Kemppi Group will lease the factory to Kempower. The new facility will enable Kempower to expand its production by approximately 500% compared to the current capacity. Kempower’s production will be scaled up for the second time in a short time: at the beginning of 2021, Kempower increased its production by five times from the 2020 level.
“As Kempower’s owners, we are very committed to the company. Kempower has a lot of growth potential and the international EV charging market has reacted positively to Kempower’s DC charging offering. With this investment, we want to ensure Kempower’s ability to respond to the market demand”, states Antti Kemppi, Chairman of the Board of Kemppi Group & Kempower.
”We are particularly pleased to be able to continue the life of this valuable business property and to provide new jobs in the Lahti region”, Antti Kemppi adds.
“It’s great that this well-kept property found a new home. I believe that the site's modern production facilities offer a great platform to develop business in the future” says Harri Oravainen, Real Estate Investment Director, S-Bank Properties.
“Our aim is to be the preferred partner in the world in developing emission-free business. Our ultimate goal is to create an EV charging infrastructure so extensive and reliable, that the electric vehicles can and will be the new reality. With the new facility, we are able to support our customers in developing emission-free business even faster than before”, states Tomi Ristimäki, CEO, Kempower.
“In the new facility, Kempower will have all the essential functions in one location, including production, R&D, laboratory, testing and offices. The new facility will allow us to be efficient and agile as all the teams will be working seamlessly under one roof”, says Tomi Ristimäki, CEO, Kempower.
The preparations for Kempower’s new facility will start immediately. To ensure customer deliveries, Kempower will gradually ramp up production in 2021-2022. All company functions will be moved to the new location by the end of 2022.
Catella Asset Management acted as Kemppi Groups’ buyside advisor and HPP Attorneys as legal advisors on the transaction.
Kempower designs and manufactures DC fast charging solutions for electric vehicles and machines operating in the most demanding conditions. We are a largescale charging system supplier, aiming for a smoothly running electric mobility infrastructure. With 70 years of experience in perfecting power sources, we set the bar high in engineering and user-experience design. Over 90% of our materials & components are sourced from Finland. Kempower DC charging solutions are designed and manufactured in Lahti, Finland, and available globally. www.kempower.com
For more information, please contact:
Tomi Ristimäki
CEO
Kempower Oy
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Kempower media contacts
Paula Savonen
Marketing & Communications manager
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+358 400 343 851
Project ensures long-term gas supply from Gorgon to customers in Australia and Asia
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced that its wholly owned subsidiary Chevron Australia Pty Ltd. (Chevron Australia) as operator and the Gorgon joint venture participants will proceed with the approximately $4 billion (AU$6 billion) Jansz-Io Compression (J-IC) project.
Nigel Hearne, Chevron Eurasia Pacific Exploration and Production president, said J-IC represents Chevron’s most significant capital investment in Australia since the sanctioning of the Gorgon Stage 2 project in 2018.
“Using world-leading subsea compression technology, J-IC is positioned to maintain gas supply from the Jansz-Io field to the three existing LNG trains and domestic gas plant on Barrow Island,” Hearne said.
“This will maintain an important source of clean-burning natural gas to customers that will enable energy transitions in countries across the Asia Pacific region.”
A modification of the existing Gorgon development, J-IC will involve the construction and installation of a 27,000-tonne normally unattended floating Field Control Station (FCS), approximately 6,500 tonnes of subsea compression infrastructure and a 135km submarine power cable linked to Barrow Island.
Construction and installation activities are estimated to take approximately five years to complete.
J-IC follows the Gorgon Stage 2 project, which is nearing completion of the installation phase, to supply gas to the Gorgon plant from four new Jansz-Io and seven new Gorgon wells.
The Chevron-operated Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (47.333 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent) and JERA (0.417 percent).
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
NOTICE
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Cam Van Ast (Perth) -- +61 8 9216 4462
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the "Company") plans to announce its financial results for the second quarter 2021 prior to 8:00 A.M. Eastern Time on Thursday, August 5, 2021. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com.
In addition, management will host a conference call on Thursday, August 5, 2021 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (866) 953-0778 (from within the U.S.) or (630) 652-5853 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference “NFE Second Quarter 2021 Earnings Call."
A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.
A replay of the conference call will be available after 11:00 AM Eastern Time on Thursday, August 5, 2021 through 11:00 AM Eastern Time on Thursday August 12, 2021 at (855) 859-2056 (from within the U.S.) or (404) 537-3406 (from outside of the U.S.), Passcode: 8769417.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
IR:
Joshua Kane
(516) 268-7455
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Media:
Jake Suski
(516) 268-7403
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CARPENTERSVILLE, Ill.--(BUSINESS WIRE)--Black Diamond Capital Management, L.L.C. (“Black Diamond”) is pleased to announce a transaction involving one of its portfolio companies, Speciality Chemicals International Limited, a holding company of the Polynt-Reichhold group (the “Company”) in which the Company agreed to repurchase Investindustrial’s shares in the Company (the “Transaction”). Following the completion of the Transaction, Black Diamond will become the Company’s controlling shareholder.
Black Diamond and Investindustrial became partners in Polynt-Reichhold after the successful merger of Polynt and Reichhold in May 2017. In the years following the merger, the combined company’s performance has substantially improved. The Transaction, together with the refinancing of the existing debt, will be financed by approximately €1.3 billion (equivalent) of new senior secured and unsecured debt facilities expected to be issued by the Company in the public debt capital markets. Affiliates of JP Morgan and certain funds managed by affiliates of Apollo Capital Management, L.P., have provided a commitment for the debt financing and funds managed by Black Diamond have provided an equity commitment.
“We are extremely pleased with what management has been able to achieve with Polynt-Reichhold thus far and are looking forward to supporting them for the next phase of growth,” said Steve Deckoff, Black Diamond’s Managing Principal.
The Transaction is expected to close within six months from the date hereof, subject to receiving all necessary regulatory approvals.
Morgan Stanley & Co. International plc is acting as the Company’s exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as the Company’s legal advisor. Slaughter and May and Chiomenti Studio Legale are acting as legal advisors to Global Chemicals S.à r.l., an independently-managed investment subsidiary of Investindustrial V L.P. Morgan Lewis is acting as legal advisor to Black Diamond.
About Polynt-Reichhold
Polynt-Reichhold is a leading vertically-integrated global specialty chemical manufacturer, generating €2 billion in annual sales. Headquartered in the UK, Polynt-Reichhold Group manages operations through two regional centres located in Italy (Scanzorosciate, Polynt’s historical headquarter) and in the US (Carpentersville, Illinois).The Group operates 36 manufacturing facilities worldwide and several R&D centres, with a total workforce of approximately 3,100 employees.
Additional information on Polynt-Reichhold is available at www.polynt.com | www.reichhold.com.
About Black Diamond
Black Diamond Capital Management, L.L.C. (together with its affiliates, “Black Diamond”) is a leading alternative investment firm with over $8 billion in assets across four core platforms: (i) control distressed and special situations private equity funds; (ii) hedge funds; (iii) non-control stressed and distressed closed-ended funds; and (iv) collateralized loan obligations and structured products. Black Diamond has over 25 years of experience in underwriting, trading, restructuring and managing performing, stressed, distressed and private equity investments through multiple market cycles. Black Diamond is an SEC-registered Investment Adviser with over 80 employees operating from offices in Stamford, CT, London, UK and St. Thomas, VI.
Additional information on Black Diamond is available at www.bdcm.com.
This press release is for information purposes only and does not constitute any offer to sell or the solicitation of an offer to buy any security in the United States or in any other jurisdiction.
Black Diamond Investor Relations
Office: +1 (203) 552-0888
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PLANO, Texas--(BUSINESS WIRE)--Vine Energy Inc. (NYSE: VEI) announced that its subsidiary, Vine Energy Holdings LLC, has amended its second lien term loan agreement to effectively reduce the amount of future natural gas production that is required to be subject to hedging. Specifically, for the 24-month period following the original closing date, and for the 24-month period following the delivery of either an annual or mid-year reserve report, 70% of expected production from proved developed producing reserves is now required to be hedged. Previously, 70% of total expected production was required to be hedged.
Commenting on the amendment to the Company’s second lien term loan agreement, Chairman, President & CEO Eric Marsh stated, “This amendment meaningfully reduces the required hedging under our credit agreements and aligns the requirements of our reserve-based lending facility with our second lien term loan. While the use of derivatives to manage commodity price exposure will remain an important part of our strategy, we now have greater flexibility to manage our business in better alignment with our improved capital structure post our initial public offering this past March. We would like to thank our second lien term loan lenders for working with us on this amendment.”
About Vine Energy Inc.
Vine Energy Inc., based in Plano, Texas, is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The Company is listed on the New York Stock Exchange under the symbol “VEI”.
David Erdman
(469) 605-2480
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Companies to Accelerate Technology Innovation & Strategic M&A Investments Needed to Optimize Operations, Improve Visibility & Control Across the Global Supply Chain
MENLO PARK, Calif. & OAKLAND, Calif.--(BUSINESS WIRE)--#acquisition--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global cargo handling industry, today announced that leading technology investment firm Accel-KKR has completed the acquisition of Navis LLC with all business units and employees transferred by the end of 2021. The acquisition was first announced in March 2021.
The acquisition comes at a time of unprecedented demand for optimized operating solutions among terminal, vessel, carrier and inland rail freight operators, as well as the urgent call for enhanced visibility and control of cargo flow across the global supply chain. Navis, together with Accel-KKR, is well-positioned to accelerate organic and strategic investments to bring greater efficiency, control and predictability to ocean and landside logistics through advanced technology.
“Weaknesses in our global supply chains have been tested during this pandemic and the results have been telling. These disruptions have created more urgency for advanced technology to better plan, execute and optimize cargo movement in order to provide a more predictable delivery experience for all shipping partners,” said Park Durrett, Managing Director of Accel-KKR. “With the addition of Navis to the AKKR portfolio, we’re building on a strong foundation and extending capabilities to deliver greater value and more actionable insights for supply chain stakeholders.”
Together, Accel-KKR and Navis will focus on continued expansion of existing solutions to provide greater customer value through:
“The acquisition marks a thrilling new chapter for the entire Navis team and our customers we proudly serve around the world,” said Benoit de la Tour, President and CEO, Navis. “Accel-KKR’s proven track record in growing supply chain software companies, combined with our market leadership position, will enable us to accelerate innovation and address rapidly-evolving challenges impacting the flow of cargo globally. We’re eager to see what the future holds and what we can accomplish together.”
Accel-KKR’s acquisition, which will complete the transfer of all business units by the end of 2021, includes Navis’ full software portfolio, including N4, Master Terminal and Octopi by Navis terminal operating systems (TOS), Navis Carrier & Vessel Solutions (NCVS), as well as Navis Rail Intermodal TOS and Freight Rail Planning & Scheduling, powered by Biarri Rail. Finally, all current Navis employees will remain with the company, operating under the direction of the existing leadership team, led by Benoit de la Tour.
About Navis, LLC
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with offices in Atlanta and London. Visit accel-kkr.com to learn more.
Jennifer Grinold
Navis, LLC
T+1 510 499 7621
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Geena Pickering
Gregory FCA
T+1 212 398 9680
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Collaboration on strategy, design, digital engineering, IT and cloud supports fight against climate change
ZURICH--(BUSINESS WIRE)--Accenture (NYSE: ACN) has developed a digital plant solution for Climeworks that supports the company in removing carbon dioxide (CO2) from the air more efficiently. The digital plant solution is part of a multi-service collaboration between Accenture and Climeworks and spans strategy, design, digital engineering, technology and cloud.
Climeworks, a global leader in direct air capture, offers carbon dioxide removal as a service to companies and individuals. Its newest plant in Iceland, called “Orca,” will capture 4,000 tons of carbon dioxide per year, making it the world's largest climate-positive facility to date. The CO2 is put into underground storage provided by Carbfix, where it will turn into stone in less than two years.
Accenture and Climeworks began working together after leaders of the two companies met on a panel discussion at the World Economic Forum in 2018. By then, Climeworks was well on its way to scaling its technology. Accenture offered to collaborate with the company on the next stages of its growth. A team of Accenture volunteers was formed to help Climeworks, later becoming part of the Accenture Development Partnerships program, which supports organizations working for good to positively impact the world.
“Our vision is to inspire one billion people to remove carbon dioxide from the air,” said Daniel Egger, chief commercial officer, Climeworks. “To bring it to life, we keep strengthening our offering for consumers and corporate clients – and Accenture has been playing a key role.”
Stéphane Piqué, who leads Accenture’s work for Climeworks and Accenture Industry X in Switzerland, said, “We began collaborating with Climeworks because we believe in their mission. It quickly became clear that Accenture could provide value in key areas of this exceptional company. The work we’ve done is a testament to making sustainability our greatest responsibility, and helping clients infuse it across their businesses. We’re looking forward to continuing to contribute to Climeworks’ success – for the next generation and ourselves.”
Accenture is supporting Climeworks’ fight against climate change across the following areas:
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 569,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
About Climeworks
Climeworks empowers people to reverse climate change by permanently removing carbon dioxide from the air.
One of two things happens to the Climeworks air-captured carbon dioxide: either it is returned to earth, stored safely and permanently away for millions of years, or it is upcycled into climate-friendly products such as carbon-neutral fuels and materials. The Climeworks direct air capture technology runs exclusively on clean energy, and the modular CO2 collectors can be stacked to build machines of any size.
Founded by engineers Christoph Gebald and Jan Wurzbacher, Climeworks strives to inspire 1 billion people to act now and remove carbon dioxide from the air.
Together we can build a climate-positive world. Join us!
Web: https://www.climeworks.com
Twitter: https://twitter.com/Climeworks
Facebook: https://www.facebook.com/climeworks
Instagram: https://www.instagram.com/climeworks_official
LinkedIn: https://www.linkedin.com/company/climeworks
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Jens R. Derksen
Accenture Industry X
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Climeworks
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