Report and checklist provide data compromise mitigation strategies for financial services industry
SEATTLE--(BUSINESS WIRE)--The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today released the Hyperledger Fabric 2.0 Architecture Security Report and accompanying Security Controls Checklist, the latest research from the CSA Blockchain/Distributed Ledger working group. The report and checklist, which align with NIST Cybersecurity Framework’s Controls, seek to help security and risk management leaders and regulators in the financial industry mitigate the negative consequences surrounding a data breach, which could result in the loss of trade, ownership, and trust between business stakeholders.
“Hyperledger Fabric 2.0 has rapidly seen more than 50-percent adoption among the top financial services companies, making it a key component of the industry’s infrastructure. This seminal report is crucial in understanding the risks inherent in Hyperledger architecture, and providing both new and experienced users a straightforward way to address those risks while balancing security and business needs,” said Bill Izzo, Chair of the Blockchain/DLT Working Group.
The researchers, led by Urmila Nagvekar, one of the paper’s co-authors, performed a detailed security review of Hyperledger Fabric 2.0’s architecture in a permissioned environment to identify architectural weaknesses as applied to the financial services industry and recommend security countermeasures to mitigate them. The researchers first identified Fabric 2.0’s architectural risks to cybersecurity attributes (privacy, confidentiality, integrity, availability) when implemented as a permissioned blockchain enterprise network for a trade finance use case in a cloud-based environment, and delivered a fully implementable “Security Controls Checklist” aligned with NIST Cybersecurity Framework’s Controls 2 to proactively prevent, detect, and respond to the identified risks thus mitigating the business impacts downstream to the trade finance business workflow.
Hyperledger Fabric 2.0 was specifically evaluated against Microsoft’s “STRIDE” Threat Modeling Methodology (Shostack, 2014) and Gartner’s Blockchain Security Model (Gartner, 2018), for vulnerabilities that have been the root cause of prior business execution compromises in non-Fabric blockchain environments. Specifically, the Fabric 2.0 architecture was evaluated for compromise to the confidentiality and privacy of both the trade finance business logic, as well as the transaction and its payload and for weaknesses in its operational semantics. The analysis was undertaken to confirm that trade finance business logic embedded within smart contracts can’t be manipulated by adversaries during execution to gain financial advantage.
The group determined that Hyperledger Fabric 2.0’s security architecture was natively secure by both design and default when it came to trade finance business logic and payload confidentiality and privacy. Moreover, it was also robust in preventing adversaries from manipulating trade finance’s business logic during execution.
The group went on to perform threat modeling finding numerous potential threats with a HIGH risk, likelihood and impact rating, across the cybersecurity functional areas, including end device and server security, identity and access management, consensus security, application security, peer security, and data privacy and cryptography. The report details threat mitigation strategy recommendations addressing these areas.
"Hyperledger Fabric is powering significant innovation in enterprise blockchain and has seen keen uptake across a number of market segments, including financial services," said Brian Behlendorf, Executive Director, Hyperledger and Managing Director for Blockchain, Healthcare and Identity at the Linux Foundation. "We commend the CSA for undertaking this work to help users understand the security of the Hyperledger Fabric architecture, test it against industry-standard security models, and provide insights into what users need to consider in their own implementations. It is this kind of work that will further trust in distributed systems, and therefore faster adoption."
The Blockchain/Distributed Ledger working group works to produce useful content to educate different industries on blockchain and its proper use, as well as define blockchain security and compliance requirements based upon different industries and use cases. Individuals interested in becoming involved in Blockchain/Distributed Ledger future research and initiatives are invited to join the working group.
The paper is available at no charge. Learn more about these documents and their use in this pre-recorded webinar or download the full Hyperledger Fabric 2.0 Architecture Security Report.
About Cloud Security Alliance
The Cloud Security Alliance (CSA) is the world’s leading organization dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment. CSA harnesses the subject matter expertise of industry practitioners, associations, governments, and its corporate and individual members to offer cloud security-specific research, education, training, certification, events, and products. CSA's activities, knowledge, and extensive network benefit the entire community impacted by cloud — from providers and customers to governments, entrepreneurs, and the assurance industry — and provide a forum through which different parties can work together to create and maintain a trusted cloud ecosystem. For further information, visit us at www.cloudsecurityalliance.org, and follow us on Twitter @cloudsa.
Kari Walker for the CSA
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DUBLIN--(BUSINESS WIRE)--The "Global Flue Gas Desulfurization Market" report has been added to ResearchAndMarkets.com's offering.
Flue gas desulfurization (FGD) is a technology used to remove SO2 (sulfur dioxide) from the exhaust flue gases of coal power plants and other SO2-emitting processes in industries like water and wastewater treatment, and chemical and cement manufacturing. The FGD unit can be dry, semi-dry or wet, depending upon the application. In dry FGD, lime, trona, activated carbon and other dry reagents are used to remove SO2. In the wet FGD scrubbing process, wastewater is generated, which is deposed after treatment. This wet FGD wastewater contains high concentrations of sulfates, calcium, magnesium, heavy metals, TSS and ammonia, and stringent regulations are imposed by different countries like China, United States and Germany.
In 2020, the global market for flue gas desulfurization was significantly impacted by COVID-19. Currently, players have hope that COVID-19 vaccine availability will help restore a sense of normalcy. The global market for flue gas desulfurization is categorized into three notable segments which are based on the installation, type and end-user industry.
Based on type, the market for flue gas desulfurization is segmented into wet FGD and dry and semi-dry FGD. Wet FGD is expected to dominate the market due to its high SO2 removal efficiency. Wet FGD and dry and semi-dry FGD are further segmented based on region.
Based on installation, the market for flue gas desulfurization is segmented into greenfield, and brownfield and revamp. Greenfield installations dominate the market, as many of the plants are required to install FGD units for the first time.
Based on end-user, the market for flue gas desulfurization is segmented into power generation, cement, chemical, iron, steel and others. The power generation segment is expected to dominate the market, as coal-fired power plants are the major source of sulfur dioxide emission.
The report includes:
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Breakdown by Type of Installation
Chapter 5 Market Breakdown by Type of Flue Gas Desulfurization
Chapter 6 Market Breakdown by End-User Industry
Chapter 7 Market Breakdown by Region
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/yixwte
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Customers, suppliers, elected officials and other stakeholders sent nearly 200 additional letters underscoring benefits of CN and KCS combination, bringing total to well over 1,650
Congressman Sam Graves (R-MO) along with top elected leaders in Louisiana file letters in support of CN-KCS voting trust
MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--CN (TSX: CNR) (NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that their combination continues to gain support, with letters from customers, suppliers, elected officials and other stakeholders being filed with the Surface Transportation Board (“STB”) in favor of the companies’ pro-competitive combination.
Nearly 200 additional letters have been sent to CN and KCS and filed with the STB, bringing the total number of letters received to well over 1,650. Importantly, all of the letters being filed today support the companies’ request that the STB approve the proposed voting trust agreement. This agreement underpins the pro-competitive CN-KCS combination, which will create a true USMCA railroad and will provide numerous new connections and service options for customers, establishing a seamless single-line service to expand North American trade and power economic prosperity.
The plain vanilla voting trust, which is identical to the CP trust approved for use by the STB, is an integral component of the CN-KCS combination. It prevents premature control of KCS, allows KCS to maintain independence and protects KCS’ financial health during the STB’s review of the ultimate combination of CN and KCS. It also enables KCS shareholders to realize the full value of their shares without the delay related to this review. Additionally, CN has committed to divesting the sole area of overlap between the CN and KCS networks – KCS’ 70-mile line between New Orleans and Baton Rouge – thereby making the combination a true end-to-end transaction, and has agreed to preserve existing route options by keeping gateways open on commercially reasonable terms.
The proposed CN-KCS combination represents a pro-competitive solution that offers unparalleled opportunities for customers, employees, shareholders, the environment and the North American economy.
One of the nearly 200 additional letters filed today is from Congressman Sam Graves, the Ranking Member of the House Committee on Transportation and Infrastructure. Representative Graves “urge[s] approval of the voting trust” and notes that the “CN/KCS trust should meet the unlawful control test, and also meet the public interest financial test.” He also observes that “KCS is well-established and well respected within the Kansas City area and merging with CN will create new opportunities for trade and economic growth in the metro area and beyond. From a national and international perspective, the CN/KCS merger has the potential to improve commerce and access to markets by creating a single railroad that will streamline the movement of goods among Canada, the United States, and Mexico.”
Additional stakeholders from CN and KCS’ networks, including Mayor President Sharon Weston Broome of Baton Rouge, the Board and executives of the Baton Rouge Area Foundation, Louisiana Governor John Bel Edwards, and the Port of New Orleans, continue to write letters underscoring the significant benefits available through the combination. Highlights of these letters include:
Lastly, today’s filing includes four letters of support from three local unions affiliated with Brotherhood of Locomotive Engineers and Trainmen (“BLET”), which collectively represent more than 1,700 engineers working on CN’s United States rail operating subsidiaries and approximately 200 engineers working on KCS.
CN and KCS look forward to further comment and engagement from their stakeholders during the STB’s official public comment period, which will be open until the end of the day today, June 28, 2021, as they work towards gaining approval of their voting trust and completing their combination.
A full copy of CN’s letter filed with the STB appears below:
Applicants Canadian National Railway Company (“CN”) and Kansas City Southern (“KCS”) respectfully submit the enclosed 186 letters from stakeholders relating to CN’s and KCS’s proposed combination. All of the letters in today’s filing express support for the approval of the voting trust. This filing brings the total number of support letters filed to well over 1,650. 940 of these letters explicitly support the proposed CN-KCS voting trust. These letters come from customers in Canada, Mexico and the United States, suppliers from every side of the rail industry, many of the largest ports in North America, trade associations, local chambers of commerce, dozens of mayors and city administrators, numerous state legislators, 2 governors, and 11 members of Congress.
Each of the 186 letters filed today voice their unequivocal support for CN’s proposed voting trust, of which 105 also back the CN-KCS combination itself. They include a letter from the Honorable Sam Graves, the representative from Missouri’s Sixth District and Ranking Member of the House Committee on Transportation and Infrastructure. Representative Graves “urge[s] approval of the voting trust” and notes that the “CN/KCS trust should meet the unlawful control test, and also meet the public interest financial test.” He also observes that “KCS is well-established and well respected within the Kansas City area and merging with CN will create new opportunities for trade and economic growth in the metro area and beyond. From a national and international perspective, the CN/KCS merger has the potential to improve commerce and access to markets by creating a single railroad that will streamline the movement of goods among Canada, the United States, and Mexico.”
Ranking Member Graves is joined by several other members of the Missouri and Kansas delegations, including Governor Mike Parson of Missouri, Congressman Emmanuel Cleaver, and Congresswoman Sharice Davids. Joining in support as well are numerous Kansas and Missouri civic organizations and leaders. The Kansas and Missouri delegations are joined by Congressman Cuellar of Texas and Congressman Kelly of Mississippi.
Support also comes from Louisiana. Applicants are pleased to enjoy the backing of Mayor Sharon Weston Broome of Baton Rouge, who writes that the proposed combination “would serve Baton Rouge, Louisiana well by expanding the collective reach of both railroads and bringing new, sustainable transportation solutions to businesses in Baton Rouge and East Baton Rouge Parish.” The board and executives of the Baton Rouge Area Foundation likewise write in support of the merger and voting trust, describing CN as “integral” to the transportation system of the region, and critical in connecting their businesses to markets around the World. They welcome the merger, which they say will further allow industry to move traffic from truck to rail and in so doing reduce greenhouse gas emissions. These letters join a dozen others supporting the merger which Applicants have already filed from Louisiana, including Governor Edwards and the Port of New Orleans.
The various elected officials, civic leaders, and economic development groups are joined by numerous other shippers and customers throughout Mexico, U.S. and Canada. Olin Corporation, a chemicals producer which ships more than 47,000 rail cars on both CN and KCS from its 10 North America locations, writes to express its belief that a CN-KCS merger will help Olin to “support and potentially grow its business” and to praise CN’s commitment to developing measures to enhance competition.
Other supporters also eagerly welcome the opportunity to move truck traffic to the new joint CN-KCS rail network. One such company is Atlantic Track and Turnout Co., a supplier to the rail industry as well as a customer that relies upon fast and economical service from CN in order to ship their products all across North America. This reliance has only continued to grow as the economy has reopened and truck freight has become “very expensive and increasingly unreliable.” They write that the CN-KCS combination would create a railroad network that is “faster, safer, and more economical,” which will allow them to shift more of their shipping to rail where the company currently relies on trucks to move freight from their facility in Memphis.
Entities from the agriculture industry join to express their support for the trust as well as the benefits the proposed merger would bring to their business. One such supporter is Ray-Carroll County Grain Growers, a long-time customer which depends on KCS for service at five of its locations where it provides a broad range of services to farmers and other members. Another, poultry producer Raeford Farms of Louisiana, looks forward to expanded market access and a more diversified feed market so that weather conditions in their immediate region don’t have the potential to pose a significant threat of disruption to their business.
CN and KCS are also pleased to enjoy support for the proposed voting trust from numerous labor organizations, including letters filed earlier this week from multiple chapters of the International Association of Sheet Metal, Air, Rail and Transportation Workers and Brotherhood of Locomotive Engineers and Trainmen (“BLET”). Today’s filing includes support from 4 local unions affiliated with the Brotherhood of Locomotive Engineers and Trainmen (“BLET”), who collectively represent over 1700 engineers working on CN’s United States affiliates and approximately 200 engineers working on KCS. These letters encourage approval of the voting trust, and note that the trust “demonstrates clearly the stakeholder-focused approach to business that Canadian National has demonstrated” in its relationship with these labor organizations.
CN and KCS are pleased that so many stakeholders recognize that the trust proposed by CN and KCS, which is identical to the CP trust approved by the STB, meets the test for approval because it: (a) prevents premature control of KCS; (b) allows KCS to maintain independence during the STB’s review of the ultimate combination of CN and KCS; and (c) protects KCS’ financial health during this period. It also enables KCS shareholders to realize the full value of their shares prior to the STB’s subsequent review of the merits of the proposed combination.
Indeed, as the Board may be aware, former STB Commissioner and Vice-Chairman, William Clyburn, Jr., wrote in an Railway Age op-ed dated June 8, 2021 that he believes the CN voting trust addresses “unlawful control” and the “public interest” standard under the new rules, and that as such, the voting trust should be approved. Likewise, in an op-ed published by Railway Age on June 22, Dr. William Huneke, the former Director of the Office of Economics and Chief Economist at STB expressed his support for the voting trust in large part because approval of the trust is the only means by which shippers will enjoy the benefits of CN’s open gateways commitment, which he describes as a “big deal.” He believes that this commitment, which will only be implemented through consideration and approval of the merger itself, “ensures that shippers who today enjoy competitive joint line routings with either CN or KCS will continue to have those routings available to them in a post CN/KCS merger environment, even if a merged CN/KCS could handle the entire movement via a single-line routing”.
CN and KCS appreciate the overwhelming support that Board Member Clyburn, Dr. Huneke, and the many, many other customers and stakeholders have expressed during the STB’s voting trust comment period. CN and KCS will continue to engage with industry stakeholders about the proposed CN-KCS combination and the tremendous public interest benefits it will bring by creating the premier railway for the 21st century with a single network across Canada, the United States, and Mexico.
Respectfully submitted,
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Sean Finn |
Raymond A. Atkins |
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Olivier Chouc |
Terence M. Hynes |
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Matthew J. Warren |
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935 de La Gauchetière Street West, |
Sidley Austin LLP |
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Kathryn J. Gainey |
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/s/ William A. Mullins |
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Adam J. Godderz |
William A. Mullins |
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Kansas City Southern |
Crystal M. Zorbaugh |
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Baker & Miller PLLC |
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Kansas City, MO 64121-9335 |
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Counsel for Kansas City Southern, The Kansas City Southern Railway Company, Gateway Eastern Railway Company, and the Texas Mexican Railway Company |
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Dated: June 28, 2021
INDEX of ENCLOSED SUPPORT STATEMENTS
Statements SUPPORTING TRANSACTION
Statements SUPPORTING PROPOSED VOTING TRUST
CERTIFICATE OF SERVICE
I hereby certify that on this 28th day of June, 2021, a copy of the foregoing Joint Submission of 186 Additional Statements Supporting Proposed Transaction And/Or Voting Trust was served by email or first class mail on the service list to Finance Docket No. 36514.
/s/ Matthew J. Warren
Matthew J. Warren
For more information about CN’s and KCS’ pro-competitive combination, please visit www.ConnectedContinent.com.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
About Kansas City Southern
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com
Forward Looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.
Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
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Longview Communications & Public Affairs
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United States
Brunswick Group
Jonathan Doorley / Rebecca Kral
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Media: KCS
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
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Tim Lynch / Ed Trissel
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Investment Community: CN
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Vice-President
Investor Relations
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Investment Community: KCS
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Drilling Rigs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Drilling Rigs Market is expected to grow at a CAGR of more than 1.5% over the period of 2020-2025.
Factors such as increasing investments in the sector are expected to drive the market. However, volatility in crude oil and natural gas prices, leading to a decrease in exploration and production activities, may restrain the growth of the market.
Natural gas production is expected to continue to be a vital part of meeting global energy demand, and the increase in its production is expected to drive the market.
New development in the smart rigs technology, like the advancements in the automated drilling rigs, is expected to make the oil and gas production more viable and may provide an opportunity for market players.
New rigs are being placed in the Persian gulf to extract crude oil and natural gas from the area, and this is expected to aid the growth of the offshore in the forecast period.
Key Market Trends
Increase in Natural Gas Production to Drive the Market
Offshore Segment to Witness Growth
Competitive Landscape
The Saudi Arabia drilling rigs market is partially fragmented. Some of the key players in this market are Valaris plc, Arabian Drilling Company, Saipem S.p.A., ADES International Holding PLC, and Shelf Drilling Holdings, Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/extqrt
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AI Solution for Advanced C&I Energy Management and Integrated Renewables is Recognized for Clean Energy Innovation
MONTREAL--(BUSINESS WIRE)--#AI--vadimUS, a leading provider of commercial and industrial (C&I) renewable energy solutions announced today that it has received the Solar Impulse (SI) Efficient Solution Label this month for its innovative vadiMAP solution. The Label is granted to a select number of products leading the industry in clean energy technology and business transformation. vadiMAP was recognized for its innovative approach to helping building operators and managers integrate renewables and manage energy resources to reduce their carbon footprint and streamline operations.
vadiMAP is the only AI-based energy management solution for renewable energy integration for the C&I market to be recognized by Solar Impulse. Its unique turnkey approach and easy deployment allow operators to quickly realize both energy and financial savings and benefits.
“Receiving validation from Bertrand Piccard and the Solar Impulse Foundation is a great honor and we believe our missions are aligned in accelerating the energy transition,” said Dan Boucher, Chief Executive Officer of vadimUS.
The vadiMAP solution offers the following benefits:
To learn more about vadiMAP and how it is accelerating energy transformation and grid resiliency, visit vadimap.com.
About vadiMAP
vadimUS is accelerating transformation in the energy industry through its AI-based vadiMAP solution for renewable energy integration for commercial and industrial (C&I) customers. Recognized by leading organizations including the Solar Impulse Foundation, the solution provides an easy path forward for building owners and operators looking to create a sustainable footprint and reduce carbon reduction, as well as improve operational and financial outcomes. Learn more at vadiMAP.com
About the Solar Impulse Efficient Solution Label and The Solar Impulse Foundation
The Solar Impulse Foundation is dedicated to accelerating the implementation of clean and profitable solutions. To address sustainability challenges while enabling economic growth, Bertrand Piccard and the Solar Impulse Foundation have identified 1000+ clean and profitable solutions that give political and economic decision-makers the tools to adopt much more ambitious energy and environmental policies. These products have achieved the highest level of recognition by third party experts and evaluators and receive the Solar Impulse Efficient Solution Label.
Jérémy S. Boucher
514 708 2692
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Seniors and Others at Risk from Extreme Heat Can Find Relief at Cooling Centers
SAN FRANCISCO--(BUSINESS WIRE)--Cooling Centers continue to provide a safe, air-conditioned location for all residents to cool down during extreme heat.
Pacific Gas and Electric Company (PG&E) has long-provided financial support to fund the operation of existing county- and city-run cooling centers throughout the service area where summer temperatures typically reach triple digits, primarily in the Central Valley.
This year, PG&E introduces new partnerships with the City of West Sacramento and Kingsburg as well as El Dorado, Shasta, and San Joaquin counties to help fund the operation of their existing cooling centers.
"We are providing support for several new locations this year as we know cooling centers fulfill a critical resource for customers during the summer months, particularly those at-risk, such as seniors during times of severe, prolonged temperatures,” said Marlene Santos, Executive Vice President and Chief Customer Officer at PG&E.
PG&E continues to support cooling centers in the cities of Arvin, Fowler, Fresno, Madera, San Jose, Sanger and Stockton as well as with the Kern County Aging and Adult Services, Kern County Parks and Recreation and the Merced County Office of Emergency Services.
Cooling centers open to the public when the temperatures are forecast by the National Weather Service to exceed thresholds set by each area.
PG&E began funding cooling centers as part of a pilot project in 2007 following a 2006 heat wave in the state. Since 2007, PG&E has provided more than $600,000 to support established cooling centers, most located in local government-run senior centers or neighborhood parks and recreation centers.
To find a Cooling Center, please call local city or county governments or visit pge.com/coolingcenters. Modifications to cooling centers may be implemented to ensure safety and comply with current health orders.
PG&E Tips to Stay Safe and Cool this Summer
PG&E is interested in funding the operation of more local Cooling Centers throughout the service area. For more information please contact PG&E at This email address is being protected from spambots. You need JavaScript enabled to view it..
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.
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“) today announced its membership in ITS mobility, the largest competence cluster for intelligent mobility in Germany. The U.S. corporation develops cutting-edge technologies allowing for an “Any Fuel. Anywhere.” option in which Advent’s high-temperature fuel cells are not limited to exclusively using hydrogen as a fuel source as they can convert hydrogen carriers and other e-fuels to electricity.
Advent plays an active role in the automotive sector through its patented high-temperature polymer electrolyte membrane (HT-PEM) technology. This allows electric vehicles (EVs), from smaller vehicles requiring a charge of 15 kW or less to larger vehicles requiring above 30 kW, to continuously recharge their batteries and refuel on a variety of zero-emissions liquid fuels.
ITS mobility is a multi-branched, active network connecting business, economic and science experts in projects and through professional events on intelligent mobility concepts designed to create safer and more efficient traffic and transportation. With more than 200 members and over 20 years of experience, ITS mobility promotes dialogue between the mobility industry and research community. The association’s focus includes automated and connected driving, sustainable mobility concepts, intelligent infrastructures, new drive technologies and energy sources, open data infrastructure, mobility-as-a service (MaaS), artificial intelligence, new materials, eCall, and positioning and navigation.
Dr. Vasilis Gregoriou, Advent Technologies Chairman and Chief Executive Officer, said, “We are thrilled to be a member of ITS mobility and actively contributing to this leading German network for the mobility industry and researchers. We look forward to collaborating with ITS mobility and our fellow members to help the hydrogen and fuel cell industries thrive while remaining committed to playing our role in the clean energy transition through the advancement of innovative, effective solutions.”
Thomas Krause, Chairman of the Board of ITS mobility, added: “We are excited to have Advent Technologies as a member of ITS mobility. Their knowledge and experience as an innovator in the fuel cell and hydrogen technology space will be a valuable asset to our competence cluster.”
ITS mobility is a member of the go-cluster program, the cluster political excellence measure of the Federal Ministry for Economic Affairs and Energy. ITS has been awarded the silver label for Cluster Management Excellence by the European Secretariat for Cluster Analysis (ESCA).
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, maritime, aviation, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
James Goldfarb / Emily Mohr
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DUBLIN--(BUSINESS WIRE)--The "Iraq Medium Voltage Substation Market, By Component (Circuit Breaker, Protective Relay, Transformer, Switchgear, Others), By Type (Transmission and Distribution), By End Use, By Category, By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Iraq Medium Voltage Substation Market stood at USD223.36 million in 2020 and is forecast to grow at a CAGR of 5.61% until 2026.
Growth in the medium voltage substation market is driven by growing electricity demand, increasing focus on renewable energy and rise in industrial sector in the county.
Furthermore, upgradation and expansion of the electricity transmission network across the country and support from the Iraqi government are expected to create an opportunity for the medium voltage substation market in the near future.
Also, the growing focus of government towards diversifying the national economy away from oil and gas and encouraging sustainable use of resources such as the adoption of solar energy is further catalyzing the growth of the medium voltage substation in the country.
Based on component, the market can be segmented into Circuit Breaker, Protective Relay, Transformer, Switchgear and Others. Transformers dominated the market in 2020 and are expected to maintain their market dominance during the forecast period, backed by the growth in the country's industrial and renewables sector. In a substation, transformers are generally used to step down the incoming voltage for its distribution to end-users.
The growth of transformers in medium voltage substation market is driven by the need for upgradation and expansion of country's electricity transmission network, which has been affected by the political instability and war.
Based on type, the market can be bifurcated into Transmission and Distribution. The distribution segment dominated the market in 2020 and is expected to maintain its leading position in the forecast period as well. A substation steps-down high voltage electricity from the transmission system to lower voltage electricity so that it can be distributed to the end-users via distribution lines. Based on end-use, the market can be segmented into Metal, Utility, Mining, Oil & Gas, Transportation and Others.
The utility segment dominated the market in 2020 and is expected to maintain its dominance until 2026 owing to the increasing support from the government for utility aided electrical infrastructure and regulatory directives subject to the grid deployment. In 2019, the Iraqi government signed a USD15 billion contract with Germany-based Siemens AG for the execution of the roadmap for the electrification of the country in order to improve the condition of the Transmission and Distribution network in the country.
Based on category, the market can be bifurcated into New and Refurbished. New segment dominated the market in 2020 and is expected to maintain its market dominance during the forecast period owing to the increasing power consumption in Iraq that has been growing at a high rate. Furthermore, rising population, increasing number of industries and growing number of houses are expected to increase the installation of new medium voltage substations in the country.
On the basis of region, Baghdad held the largest share in the Iraq Medium Voltage Substation Market in 2020 and is expected to maintain the market dominance during the forecast period owing to the large electricity demand in the country from this region. Majority of the planned power system networks by the government and transmission lines passes through the region making it a dominant region in the segment.
Objective of the Study:
Years considered for this report:
Key Target Audience:
Report Scope:
Iraq Medium Voltage Substation Market, By Component:
Iraq Medium Voltage Substation Market, By Type:
Iraq Medium Voltage Substation Market, By End-Use:
Iraq Medium Voltage Substation Market, By Category:
Iraq Medium Voltage Substation Market, By Region:
Competitive Landscape:
For more information about this report visit https://www.researchandmarkets.com/r/cbbe9w
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Energy Startup Will Play Crucial Role in Helping the Fossil Fuel Industry Proactively Reduce Methane and Other Greenhouse Gas Emissions
HOUSTON--(BUSINESS WIRE)--Oil & Gas industry veteran Tony Sanchez III, Founder & former CEO of Sanchez Energy Corporation, today announced the official launch of OneNexus Environmental. The forward-thinking energy start-up is a financial technology (fintech) energy company created as a first-of-its-kind full platform for solving the massive environmental and financial problem of providing and planning for the management of energy company Asset Retirement Obligations (AROs) related to the decommissioning of the rapidly growing backlog of non-producing and orphaned oil & gas wells.
OneNexus offers its E&P clients the equivalent of a universal life insurance policy for their oil & gas wells, whereby once the well, asset or field reaches the end of its productive life, the E&P operator has the option to transfer title of the asset to OneNexus permanently. At that point, OneNexus assumes the financial and operational responsibility for properly plugging and abandoning the well or asset and for performing all necessary surface and environmental remediation work, thereby assuring that the risks and compliance issues associated with the retirement of oil & gas assets are properly met and funded. Once title to the asset is transferred to OneNexus, the E&P company will have no further decommissioning or environmental liabilities associated with the asset.
It will accomplish this heretofore unaddressed problem by relying on data science, predictive analytics, risk mitigation and cutting-edge plugging and remediation technologies needed to not only pay for but to manage energy company AROs in the permanent decommissioning of an ever-increasing backlog of non-producing wells.
“The drastic decline in energy demand that arose from the pandemic forced many operators to walk away from their wells,” Sanchez said. He added, “When orphaned wells started multiplying around the world overnight, what was previously the so-called elephant in the oilfield could no longer be ignored.”
Last year, Reuters estimated nearly 30 million problematic wells around the world emitted some 2.5 million tonnes of methane. According Wood Mackenzie, fixing this problem is going to take at least $50 trillion to meet the goals of the Paris climate accord by 2050. “OneNexus is in a unique position to apply deep industry knowledge to the retirement of oil & gas fields that are no longer producing by bringing disparate financial and technological solutions together to vertically aggregate risk into a single platform that will save producers time and money while helping to preserve the planet for future generations,” said Sanchez.
Institutional investors representing a collective $5.35 trillion in assets recently wrote a letter calling on the Biden administration to get tougher on methane emissions as it seeks to address climate change. If left unchecked, these greenhouse gas emissions have the potential to impede the role that natural gas will play in a decarbonizing economy. In the letter, a number of environmental policies were recommended that both the industry and investment community could take to address the growing problem and specifically pointed to the plugging of inactive wells as a responsible step that would be good for both business and the environment.
To that end, OneNexus will also introduce a 501(c)(3) non-profit foundation that represents a key component of the company’s mission to preserve and improve the environment through the reduction of harmful greenhouse gasses – calling on the international community to do its part in addressing the problem.
Bringing to bear extensive oil & gas sector insight, Sanchez assembled a dynamic team of energy industry specialists and financial professionals, who – backed by a network of premier subject matter experts in petroleum engineering, chemical engineering, data science, and systems management – have positioned themselves at the forefront of innovative efforts to solve the seemingly insurmountable dilemma: how to motivate, incentivize and fund energy companies that want to be part of the solution. Decommissioning wells is a complicated process with numerous environmental, legal and financial requirements and obligations. All too often, companies are unable to fulfill their obligations, leaving state governments and, ultimately taxpayers, responsible for the bill.
OneNexus has partnered with Houston-based private equity firm BlackGold Capital Management LP, a leading energy industry investment firm partially owned by KKR (NYSE: KKR) that will play an integral role in transforming the OneNexus vision into a reality.
“Existing solutions are inadequate,” Sanchez said. “We started a company that is capable of tackling the problem head-on and that enables energy companies to proactively be part of the solution.”
ABOUT ONENEXUS ENVIRONMENTAL
OneNexus Environmental was created to help oil & gas companies systematically and responsibly manage their Asset Retirement Obligations (AROs) and decommissioning activities. The new venture was started by a network of seasoned energy industry and financial experts to serve as an Environmental, Social and Governance (ESG) solutions provider utilizing a fintech model to solve the complex problem of decommissioning uncapped onshore and offshore wells in a safe, reliable and cost-effective manner. Headquartered in Houston, Texas – the Energy Capital of the World – OneNexus is a Benefit Company whose purpose is to address the mounting number of inactive and orphaned wells which contribute to greenhouse gas emissions and financial liabilities of the energy industry. For more information, please visit www.onenexusenvironmental.com.
Mark Sullivan / Jonathan Babin
Public Content / 713-524-2800
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NEW ORLEANS--(BUSINESS WIRE)--Black Bay Energy Capital (“Black Bay”), a private equity firm focused on growth investments for innovative companies in the energy sector, is pleased to announce several promotions, a team addition, and new Strategic Advisory Board members.
Matt Schovee has been promoted to Principal. Matt is one of Black Bay’s founding members and focuses on origination, structuring, due diligence, and monitoring of investments. Matt serves on the board of directors at Altitude Energy Partners and SCS Technologies.
Sam Scofield has been promoted to Senior Associate. Sam joined the firm in 2019 after several years in the oil & gas investment banking group at BMO Capital Markets. At Black Bay, Sam focuses on due diligence and monitoring of investments. Sam serves on the board of directors at Piñon Midstream, LLC (“Piñon”).
Will Alpaugh’s role has been expanded to include origination and business development activities. Will joined the firm in 2018 as an Associate. At Black Bay, Will focuses on sourcing and evaluating new investment opportunities, due diligence, and monitoring of investments.
Jack Wood has joined Black Bay as an Analyst. Jack focuses on investment research and due diligence.
In addition, Floyd Hammond and Doug Hayes have been added to Black Bay’s Strategic Advisory Board (“SAB”). Mr. Hammond is the Chief Operating Officer of Ameredev II, LLC, a Permian Basin-focused oil & gas producer. Mr. Hammond serves on the board of directors for Piñon. Mr. Hayes is an executive with over 40 years of experience in the oil & gas industry, with most of his time spent in the upstream and midstream production chemical sectors. Mr. Hayes serves on the board of directors for NexGen Oilfield Chemicals and Clean Chemistry.
“Matt, Will, Sam and Jack have been instrumental in helping Black Bay scale its investment activities and monitor its portfolio of rapidly growing companies. We are also thrilled to have Floyd and Doug join our advisory board given their deep experience and extensive network in the industry,” said Michael LeBourgeois, Managing Partner of Black Bay. “Black Bay has worked with Floyd and Doug for years, and they both serve on Black Bay portfolio company boards. Their technical knowledge and operating experience have been extremely valuable to Black Bay as we are evaluating investment opportunities and growing our portfolio companies,” added Mr. LeBourgeois.
Black Bay Energy Capital
Black Bay Energy Capital (“Black Bay”) is a private equity firm focused on the North American energy sector. Black Bay invests equity capital alongside talented entrepreneurs that provide a differentiated product or service to their clients to help reduce costs, improve operations, and achieve ESG initiatives. The firm’s investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth companies. www.blackbayenergy.com
Black Bay Energy Capital: Michael LeBourgeois (504) 586-3848
RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Artera Services, LLC (Artera), a portfolio company of Clayton, Dubilier & Rice (CD&R) and one of the nation’s largest providers of integrated infrastructure services to natural gas and electric industries, on its acquisition of Feeney Utility Services Group (FUSG). The transaction was led by Drew Spitzer and Matt White of the Harris Williams Energy, Power & Infrastructure (EPI) Group.
“We believe FUSG is a strategic fit with Artera, expanding Artera’s strength as a leader in gas distribution services and extending the company’s footprint in the attractive Northeast market,” said Matt White, a managing director at Harris Williams. “We look forward to seeing what the combined company accomplishes.”
“We continue to see investor interest in companies providing services to all facets of the utility landscape given tremendous tailwinds in the sector, including aging infrastructure, increasing regulatory requirements, energy transition and continued utility outsourcing,” added Drew Spitzer, a managing director at Harris Williams. “It was a pleasure working with Artera and CD&R on this transaction.”
Artera, headquartered in Atlanta, is a more than $2.6 billion in revenue industry-leading provider of integrated infrastructure services to the natural gas and electric industries across 39 states. Artera employs more than 10,800 people throughout the United States and focuses on maintenance, replacement, upgrade and integrity of existing infrastructure. Artera’s business units are recognized market leaders, have long-standing operating histories in the industry, and are well respected for shared common core values of safety, quality, commitment and reputation.
CD&R is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in 100 companies with an aggregate transaction value of more than $150 billion. The firm has offices in New York and London.
FUSG, headquartered in Boston, leverages the resources and strength of its business units, Feeney Brothers Utility Services and DDS Companies, to be a leading natural gas utility service provider in the Northeast and Mid-Atlantic.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams EPI Group has significant experience advising market leading providers of technology, services and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: This email address is being protected from spambots. You need JavaScript enabled to view it.). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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CN-KCS voting trust previously received support from SMART-TD General Committees and International Brotherhood of Boilermakers
MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--CN (TSX: CNR) (NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that three local union committees representing CN and KCS employees in the United States that are affiliated with the Brotherhood of Locomotive Engineers and Trainmen (“BLET”) have filed four letters in support of the proposed voting trust with the Surface Transportation Board (“STB”). These letters were filed as part of the STB’s public comment period for its review of the CN-KCS voting trust, which will close at midnight today. These letters underscore the significant benefits for organized labor from a CN-KCS combination.
These local BLET committees represent CN employees in locations from the Canadian border to the Gulf of Mexico who have a direct interest in the proposed pro-competitive CN-KCS combination. The letters express support for CN and KCS’ voting trust from officers including the General Chairmen of BLET General Committees of Adjustment 360, 390 and 910, which collectively represent more than 1,700 locomotive engineers on CN’s United States rail operating subsidiaries and approximately 200 engineers working on KCS.
With the submission of these four letters, BLET adds to the significant labor organization support for the approval of CN-KCS’ proposed voting trust. CN-KCS have noted earlier letters of support for the voting trust from officers including the General Chairmen of SMART-TD General Committees of Adjustment 377, 433, and 987, which collectively represent over 1,800 conductors on CN’s United States rail operating subsidiaries, as well as International Brotherhood of Boilermakers (“IBB”), one of the oldest unions in the United States representing more than 50,000 skilled craftsmen and craftswomen and industrial workers throughout the United States and Canada.
The plain vanilla voting trust proposed by CN and KCS, which is identical to the CP trust approved by the STB, meets the test for approval: (a) it prevents premature control of KCS; (b) allows KCS to maintain independence during the STB’s review of the ultimate combination of CN and KCS; and (c) protects KCS’ financial health during this period.
CN and KCS have taken additional steps to reinforce the pro-competitive nature of their combination beyond the scope of the voting trust approval. Specifically, CN will divest the sole area of overlap between the CN and KCS networks – KCS’ 70-mile line between New Orleans and Baton Rouge – thereby making the combination a true end-to-end transaction. CN and KCS have also agreed to preserve existing route options by keeping gateways open on commercially reasonable terms. The proposed CN-KCS combination represents a pro-competitive solution that offers unparalleled opportunities for customers, employees, shareholders, the environment and the North American economy.
As a larger continental enterprise with complementary routes and an enhanced platform for revenue growth, capital investment and job creation, the combined company would be well positioned to create new growth opportunities for key stakeholders. CN is committed to working with KCS’ management team to create new jobs up and down the line.
For more information about CN’s and KCS’ pro-competitive combination, please visit www.ConnectedContinent.com.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
About Kansas City Southern
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
Forward Looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Additional risks that may affect KCS’ results of operations appear in Part I, Item 1A “Risks Related to KCS’ Operations and Business” of KCS’ Annual Report on Form 10-K for the year ended December 31, 2020, and in KCS’ other filings with the U.S. Securities and Exchange Commission (“SEC”).
Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
No Offer or Solicitation
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information and Where to Find It
In connection with the proposed transaction, CN has filed with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed transaction. The registration statement includes a preliminary proxy statement of KCS which, when finalized, will be sent to the stockholders of KCS seeking their approval of the merger-related proposals. The registration statement has not yet become effective. This news release is not a substitute for the proxy statement or registration statement or other documents CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transaction.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PRELIMINARY PROXY STATEMENT, THE REGISTRATION STATEMENT, THE PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTIONS. Any definitive proxy statement(s), registration statement or prospectus(es) and other documents filed by CN and KCS (if and when available) will be mailed to stockholders of CN and/or KCS, as applicable. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. Copies of the documents filed by KCS (if and when available) will also be made available free of charge at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’ Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
Participants
This news release is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN, KCS, and certain of their directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Information about KCS’ directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. Additional information regarding the interests of such potential participants will be included in one or more registration statements, proxy statements or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and from www.sedar.com, as applicable.
Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
(514) 249-4735
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Longview Communications & Public Affairs
Martin Cej
(403) 512-5730
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United States
Brunswick Group
Jonathan Doorley / Rebecca Kral
(917) 459-0419 / (917) 818-9002
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Investment Community: CN
Paul Butcher
Vice-President
Investor Relations
(514) 399-0052
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Media: KCS
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
(816) 983-1372
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Joele Frank, Wilkinson Brimmer Katcher
Tim Lynch / Ed Trissel
(212) 355-4449
Investment Community: KCS
Ashley Thorne
Vice President
Investor Relations
(816) 983-1530
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
(212) 929-5748 / (212) 378-7071
NEW ORLEANS--(BUSINESS WIRE)--#SBInfrastructure--TAI Engineers, LLC, a New Orleans, La. based Maritime Solutions Company, has completed the Detailed Design and Construction of a new utility vessel for the National Park Service (NPS).
The NPS named the all-steel Passenger/Utility vessel "ANNIE MOORE" after the first immigrant, a 15-year-old Irish girl, who signed the Ellis Island register.
“TAI has designed and built many boats and ships, but this project is particularly special to me,” said Anil Raj, President of TAI. “My very first arrival to the United States was via New York in 1969. While landing at JFK, the Pan American airline pilot tipped the plane wings and announced a view of the Statue of Liberty from the window. He stated that she was welcoming new immigrants to Liberty and Justice for All in the US. I feel especially privileged that our company was a part of this project.”
One of the duties of the “Annie Moore” is to transport national and international dignitary guests to the Statue of Liberty. This 74 ft long x 24 ft wide vessel is ready to serve the NPS to transport VIPs, official passengers, supplies and equipment to Ellis Island from Battery Park, New York, NY. The vessel has seating for 40 passengers, and a galley on the main deck. A knuckle boom crane is provided for loading/unloading of palletized cargo.
The USCG Sub-T inspected vessel was built jointly by TAI and its subcontractor Aluma Marine at its facilities in Harvey, La. It is designed and built to American Bureau of Shipping (ABS) Rules. The ice belt and the bow structure of the hull are designed to ABS Ice class C0 rules and the vessel includes ice strengthened reduction gears, propulsion shafting, rudders, and propellers. The vessel is equipped with twin Caterpillar C18 propulsion engines.
“With the challenges of the COVID-19 pandemic, we must recognize the cooperative hard work of Aluma Marine craft persons, the USACE’s Marine Design Center, NPS leadership, TAI professionals, ABS, the US Coast Guard surveyors and the project’s subcontractors and suppliers. They selflessly worked together during this challenging period to bring this project to successful fruition,” said Raj.
The US Army Corps of Engineers, Marine Design Center (MDC) supported NPS by providing Project Management, Engineering, and Contract Management support for the new vessel.
This is TAI’s fifth vessel Design and Build contract for the US Army. All were completed within contract schedule and budget.
“We are grateful to the United States Government for entrusting our Marine Division (TAI) with this landmark project,” said Daniel Rios, CEO of S&B Infrastructure (who recently acquired TAI). “We are pleased at the successful outcome and hope to perform many more successful projects for the USACE Marine Design Center and National Park Service.”
About S&B Infrastructure, Ltd.
S&B Infrastructure, Ltd. has been in existence since 1994, making it one of the largest privately-owned engineering firms in Texas. S&B provides planning, multi-discipline engineering design, and construction phase services in the following market sectors: transportation, federal, public works, pipeline, and facilities. S&B provides services to both public- and private-sector clients. The company aspires to provide quality professional design services and innovative, cost-effective solutions to meet client expectations. S&B provides an ethical environment that empowers employees to grow and contribute to the quality of life in the communities that S&B serves. S&B Infrastructure, Ltd. is part of the broader S&B family of companies, including S&B Engineers and Constructors, Ltd. Connect with us on LinkedIn.
Lindsay Szeszycki, Director of Communications and Marketing
S&B Engineers and Constructors, Ltd.
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518.879.2101
VANCOUVER, British Columbia--(BUSINESS WIRE)--$AMZN #Electronics--Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) investment SHD Smart Home Devices Ltd. (www.shddevices.com) has been awarded a new patent #11063396 from the United States Patent and Trademark Office for its IoT Power Hub wall-mounted receptacle. The publication date for the patent is July 15, 2021. Lomiko Metals Inc. 100% owned subsidiary Lomiko Technologies Inc. is the owner of 18.15% of SHD Smart Home Devices Ltd. (www.shddevices.com) and 40% of Graphene Energy Storage Devices. This is an excellent development for SHD and opens up licensing and manufacturing opportunities. SHD continues to investigate licensing and manufacturing opportunities and aims to complete Underwriters Laboratory (UL) certification for the product and continues research and development of products related to power conversion, heat management and electric vehicle charging equipment.
"SHD has an incredible opportunity to participate in a burgeoning IoT and Smart Device market.", stated A. Paul Gill, CEO., "Major companies such as Leviton, Legrand, Pass and Seymour and others have recognized this new market and have launched similar devices."
In order to focus on its battery materials properties in Quebec, Lomiko Metals entered into an agreement to sell it’s 100% interest in Lomiko Technologies Inc. to Promethieus Technologies Inc. (Canada) (www.promethieus.com) for $ 1,236,625 on August 6, 2020. Promethieus Technologies Inc. (Canada) plans to merge with Promethieus Technologies NV and the resulting company aims to list on the DCSX to seek further funding to develop both SHD and Graphene ESD. Lomiko would retain 20% interest in the resulting issuer and be reimbursed $ 152,858 in expenses paid by Lomiko on behalf of Promethieus Technologies Ltd. The transaction was due to complete by June 30, 2021 but that target date has not been met due to delays related to COVID 19. A new resolution to extend the time frame of the sale will be presented to the next Annual General Meeting.
Mobile phone manufacturers such as Samsung and Apple have already made the decision not to include charge adapters in the retail box with new phones. The patented IoT Power Hub has 6 USB charge points and 2 traditional plug outlets, providing capability to charge up to 8 electronic devices from one receptacle. Furthermore, the patented design has the USB ports situated on the sides of the device allowing all USB outlets to be used simultaneously without obstructing the plug outlets. This is a problem that many competing options with front mount USB outlets face. The devices also greatly reduces the wasted energy from over-heated power-converters created from less than optimal chargers. SHD is a company jointly launched by Lomiko Technologies and MegaHertz Power Systems Ltd. February 16, 2016, focused on Internet of Things (IoT) devices and EV charging solutions. SHD will continue to execute on its plans to develop, contract manufacture, distribute and sell its Chargers and related devices.
There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retro-fitted into current homes undergoing renovations, there will be a healthy demand for these IoT products. SHD plans to enter into negotiations with IoT distributors to sell the IoT power outlets and other related devices in North American markets. Lomiko will share its network of industry connections to help grow the venture and then enjoy the SHD equity multiplier without being burdened with any engineering, new product development, IP or associated marketing costs as the IoT power outlet and additional suite of IoT products are rolled out.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
On Behalf of the Board
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
A. Paul Gill
604-729-5312
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NEW YORK & AUSTIN, Texas & NEW DELHI--(BUSINESS WIRE)--#IndustrialCarbonCapture--Ridgewood, NJ based Dastur International, Inc., along with its affiliate companies Dastur Energy Inc. and M. N. Dastur & Co (P) Ltd. (Dastur), has been awarded a US Department of Energy (US DOE) funded study for the design and engineering of a carbon capture project for a large integrated steel producer in North America. The project is designed to enable the production of low-carbon emissions steel through CO2 capture of up to 2 mtpa from the available blast furnace gases. This is the first industrial-scale carbon capture project for the steel sector in North America. Dastur is the Prime Recipient of the Award and will be supported by Boulder, CO based ION Clean Energy, Inc. and Austin, TX based University of Texas at Austin’s Jackson School of Geosciences.
Addressing a major share of carbon emissions in the integrated steelmaking process, the project aims to design an industrial scale and cost-effective solution for the capture and disposition of CO2 and provide a hydrogen-rich gas stream for meeting the energy needs of the host steel plant. Dastur’s proposed approach and design targets to bring down the cost of capture and disposition to mid $40/tonne of CO2, a significant improvement over incumbent solutions in the 60-100 $/tonne range.
The Biden Administration, in its “2030 Greenhouse Gas Pollution Reduction Target”, has announced that “The United States can address carbon pollution from industrial processes by supporting carbon capture as well as new sources of hydrogen - produced from renewable energy, nuclear energy, or waste - to power industrial facilities.” Acting Assistant Secretary and Principal Deputy Assistant Secretary for Fossil Energy and Carbon Management (FECM) Dr Jennifer Wilcox at the US DOE’s Office of Fossil Energy said, “We are pleased to support this project for industrial-scale and cost-effective carbon capture from blast furnace gases at a large integrated steel plant in the US. We hope that this approach can provide a viable pathway for the decarbonization of an important sector of the US economy.”
“This is the first and a very important carbon capture project at an integrated steel plant in the United States. With the Department of Energy’s support and with Dastur’s expertise in the design of commercial-scale engineering systems for carbon capture, this project can provide a competitive path for decarbonization of the US steel industry,” said Peter Marcus, Founder and Managing Partner at World Steel Dynamics, a leading strategic advisor in the steel sector.
Atanu Mukherjee, President and Chief Executive Officer of Dastur, said, “As a leader in industrial decarbonization and designs for industrial plants to minimize the “carbon premium”, Dastur is pleased to receive this award from the US Department of Energy. This is in quick succession of Dastur’s recent wins for designing commercial-scale carbon capture solutions in the oil and gas, refining and petrochemical industries. As a beachhead project, it has the potential to demonstrate US leadership and innovation in decarbonizing integrated steel plants around the world. I believe it can also serve as a reference design for clients in the heavy manufacturing and industrial sector looking for effective decarbonization strategies.”
Along with its partners, Dastur will draw upon its intellectual property & know-how in gas conditioning, system design & engineering, steel sector expertise, carbon capture technology & storage and sequestration expertise to engineer a flexible, scalable and cost-effective industrial-scale carbon capture & management solution. A successful & cost-effective industrial-scale solution could serve as a reference for other integrated steel plants in the USA, as well as the major steel-producing geographies like China, Japan, South Korea, and India, where steel capacities are largely blast furnace based.
USA: Abhijit Sarkar
+1 201 261 2300
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+91 98313 04985
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TROY, Mich. & DELRAY BEACH, Fla.--(BUSINESS WIRE)--Electric Last Mile, Inc. and Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) (“Forum”) today announced the completion of the companies’ previously announced business combination. The business combination was approved by Forum stockholders on June 24, 2021. The merger has resulted in Electric Last Mile Solutions, Inc. (“ELMS” or the “Company”), a pure-play commercial electric vehicle company, becoming a publicly traded company and its common stock and warrants are expected to begin trading on the Nasdaq Stock Market under the ticker symbols “ELMS” and “ELMSW”, respectively, on June 28, 2021.
James Taylor, Co-Founder and CEO of ELMS, said, “Today is a critical milestone for ELMS as we now believe we have all the pieces in place to execute on our business plan and transform productivity for the last mile. We are excited to take advantage of our anticipated first-mover opportunities in the commercial EV space with the launch of our Urban Delivery later this year and to help make the U.S. the world leader for EV manufacturing.”
“This transaction comes at a promising time for both ELMS and the commercial EV industry,” said David Boris, Co-Chief Executive Officer and Chief Financial Officer of Forum. “With the capital provided by this transaction, we believe James and his experienced management team at ELMS can generate rapid growth and produce shareholder value as an industry-leading commercial EV solutions company. We thank our stockholders for their support during this transaction and we are excited for ELMS as it begins its next chapter as a public company.”
The ELMS Urban Delivery, anticipated to launch later this year, is expected to be the first Class 1 commercial electric vehicle available in the U.S. market and will be produced at the Company’s facility in Mishawaka, Indiana. The Urban Delivery is anticipated to have a range of approximately 150 miles and is also expected to come with a suite of connectivity and productivity solutions, including over-the-air updates. As part of its integrated business model, ELMS also plans to offer upfitting solutions to customize the Urban Delivery to fleets’ individual end-use cases.
ELMS also recently announced plans to reveal a working prototype of its second vehicle, the Urban Utility, an all-electric medium duty cab forward truck, later this summer.
Jefferies LLC served as financial advisor and White & Case LLP served as legal advisor to Forum. Cowen Inc., Wedbush Securities Inc., Colliers Securities LLC, BTIG, LLC and The Benchmark Company, LLC served as co-advisors to Forum. Foley & Lardner LLP served as legal advisor to Electric Last Mile, Inc.
About Electric Last Mile Solutions, Inc.
Electric Last Mile Solutions, Inc. is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers’ businesses more efficient and profitable. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.
About Forum Merger III Corporation
Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) was a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forum was organized by founders Marshall Kiev and David Boris.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and anticipated financial impacts of the business combination of Forum and Electric Last Mile, Inc. (the “business combination”), the size, demands and growth potential of the markets for the Company’s products and the Company’s ability to serve those markets, the Company’s ability to develop innovative products and compete with other companies engaged in the commercial delivery vehicle industry and/or the electric vehicle industry, the Company’s ability to attract and retain customers, the estimated go to market timing and cost for the Company’s products, and the implied valuation of the Company. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; (2) changes in applicable laws or regulations; (3) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (4) the impact of COVID-19 on the Company’s business; (5) any delays the Company may experience in realizing its projected timelines and cost and volume targets for the production, launch and ramp up of production of the Company’s vehicles and the modification of its manufacturing facility; (6) the ability of the Company to obtain customers, obtain product orders, and convert its non-binding pre-orders into binding orders or sales; (7) the Company’s ability to implement its business plans and strategies; and (8) other risks and uncertainties indicated from time to time in the proxy statement filed by Forum relating to the business combination, including those under the “Risk Factors” section therein, and in Forum’s other filings and the Company’s future filings with the Securities and Exchange Commission. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that the Company considers immaterial or which are unknown. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
For Forum Merger III Corporation
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ATLANTA--(BUSINESS WIRE)--PIC Group, a global power and energy service provider with biomass plant experience and having operated and maintained in excess of 16,500 MW globally, has been awarded the Operation and Maintenance Agreement (O&M Agreement) for the Eagle Valley Clean Energy Biomass plant located in Gypsum, Colorado by Eagle Valley Clean Energy LLC. Under the terms of the O&M Agreement, valued at more than $8 million, PIC Group will provide a standards-based approach to O&M services, along with remote monitoring of the plant equipment’s performance from PIC Group’s Remote Operating Center (ROC) through 2024. This approach ensures consistent, reliable operations while enabling Eagle Valley Clean Energy to achieve their compliance, performance, and commercial management objectives while reducing operational risk for the 12MW biomass-fired power generating facility.
“PIC Group is a well-established organization with biomass plant operation and maintenance experience, a proven set of O&M management systems, programs and standards, and the ability to effectively address the knowledge transfer & leadership development enabling the Eagle Valley Clean Energy plant to optimize its operational and financial goals,” said Greg Greenman, VP of Operations at Greenbacker Group.
“PIC Group’s operations and maintenance methodology, combined with a comprehensive leadership development philosophy, and a variety of advanced technologies, provides for the safe and efficient operation and maintenance of power generation plants and lasting asset value,” said Frank Avery, President and CEO at PIC Group.
About Eagle Valley Clean Energy LLC
The Eagle Valley Clean Energy Biomass facility is owned by and part of the Greenbacker Renewable Energy Company LLC portfolio which includes 1.10GW rated system capacity of renewable energy with 259 assets in 30 states, provinces, territories, and districts. Greenbacker Renewable Energy Company LLC is a publicly registered, non-traded limited liability company that owns a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments
About PIC Group
Founded in 1988, PIC Group, Inc. is dedicated to delivering value by providing global energy services to facilities across four continents – North America, South America, Asia and Africa. PIC provides O&M Services (Care, Custody and Control), Commissioning and Startup, Documentation & Training and Staffing services and serves the power generation, oil and gas, petrochemical, pulp and paper and manufacturing industries.
PIC Group, Inc. is a wholly owned subsidiary of Marubeni Corporation, a Fortune Global 500 Company. Marubeni is a major Japanese sogo shosha (international trading company) and the third largest global independent power producer (IPP).
About Marubeni
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business including consumer products, food, agriculture, chemicals, energy and metals and power business machinery and infrastructure.
Douglas Shuda, Marketing Director
678-627-4142
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DUBLIN--(BUSINESS WIRE)--The "Worldwide Wind Farms Database" database has been added to ResearchAndMarkets.com's offering.
This product is a database of wind farms in the world.
It includes 32669 entries (in 129 countries).
Its content represents 554 GW onshore and 399,1 GW offshore.
Detailed Breakdown:
Onshore market:
Offshore market:
Provided Content:
Location
Turbines
Players
Status Data
Format: Excel or .CSV file
Countries Covered
For more information about this database visit https://www.researchandmarkets.com/r/yukrlc
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Russian Oil Production and Export in Time of Low Prices and OPEC+" report has been added to ResearchAndMarkets.com's offering.
Since May 2020, Russia has been in the second, much tighter version of the OPEC+ deal. It has already "eaten away" about 9% of national production - and this for the past year, too, of which for four months the restrictions were nominal rather than actual. This is a completely unprecedented artificial cut in both production and export. What effect this will have on the industry in the medium term remains open to question.
What is going on in the production segment of the Russian oil industry? What is happening in export which is sagging even more than production? Is there actually a chance of restoring production and regaining the lost positions on the key markets? The analyst will attempt to answer these questions in its new report.
The report gives a detailed account of the following aspects:
Compliance
What has been cut?
Key Topics Covered:
INFLUENCE OF OPEC+ 2020 DEAL ON OIL PRODUCTION IN RUSSIA. KEY COMPANIES' COMPLIANCE DISCIPLINE
CHANGES AT KEY PRODUCTION ASSETS OF RUSSIAN OIL COMPANIES
STRATEGY OF RUSSIAN INTEGRATED OIL COMPANIES IN TIME OF OPEC+ DEAL: RESULTS OF 2020 AND FORECAST FOR 2021
OPEC+ 2020 DEAL EFFECT ON RUSSIAN OIL EXPORT
MEDIUM-TERM IMPLICATIONS OF OPEC+ DEAL FOR RUSSIAN OIL INDUSTRY
For more information about this report visit https://www.researchandmarkets.com/r/272nm9
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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Jet Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The jet fuel market is expected to grow at a CAGR of more than 1% in the forecast period reaching a market size of USD 120 billion in 2026 up from USD 114 billion in 2019.
Companies Mentioned
Key Market Trends
Increasing Air Passenger Traffic to Drive the Market
Asia-Pacific to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2026
4.3 Government Policies and Regulations
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Jet A
5.1.2 Jet A1
5.1.3 Jet B
5.2 Application
5.2.1 Commercial
5.2.2 Defense
5.2.3 General Aviation
5.3 Geography
5.3.1 North America
5.3.2 Asia-Pacific
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/32vxoo
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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