Business Wire News

Ribbon-cutting celebrates new Blackwood, NJ headquarters

BLACKWOOD, N.J.--(BUSINESS WIRE)--#1000greenjobs--Vision Solar, one of the fastest growing residential solar energy companies in the United States, celebrated the opening of its new flagship facility in Blackwood, NJ with a ribbon-cutting ceremony this past weekend.



A full-service renewable energy company, Vision Solar sells, installs, and maintains residential solar powered electricity systems across New Jersey as well as in Pennsylvania, Arizona, Massachusetts, and Florida. Following more than $100M in sales revenues in 2020, Vision Solar expects revenues to grow to $150M in 2021 as it adds more than 600 jobs to its workforce, chiefly in New Jersey. The company is rapidly expanding, with offices to open in Connecticut, Arizona, Texas, and two additional locations in Florida in 2021, and in Puerto Rico in 2022.

“We are proud to be able to give back to people in our community by providing good green jobs for workers, and by helping homeowners establish a smaller carbon footprint and lessen their impact on the environment,” said Mike Eden, Chief Revenue Officer and Blackwood native.

Vision Solar has provided opportunities for energy savings and a reduced carbon footprint to New Jersey customers since 2018. Growing at a projected rate of 168%, the company expects to add more than 1,000 green jobs to the region by the end of 2022.

“Our dedication to the community is underscored by the hundreds of high paying jobs that Vision Solar is set to create,” said Blackwood born and raised Jonathan Seibert, Vision Solar Chief Executive Officer. “Many of these jobs will be based out of our Blackwood headquarters and provide our employees with an exciting new career path.”

The new facility, Vision Solar’s second in Blackwood, will serve as the company’s national headquarters, housing its executive offices as well as sales and training divisions. Washington Township Mayor Joann Gattinelli cut the ribbon of the company’s new headquarters.

“As the mayor of a town recognized at the Silver Level by Sustainable Jersey, I am proud to see former members of our community return to Washington Township and bring their green business and job opportunities with them,” said Joann Gattinelli, Washington Township Mayor. “Opening a business here, during these challenging times, speaks to the drive of Vision Solar’s leadership. We are excited for them and look forward to supporting their journey.”

To learn more about Vision Solar, please visit: https://visionsolar.llc/.


Contacts

For any inquiries regarding this press release, please feel free to contact:

Ellen Granson at This email address is being protected from spambots. You need JavaScript enabled to view it.
or
John Czelusniak at This email address is being protected from spambots. You need JavaScript enabled to view it.

Effective Friday, March 26, 2021

LOS ANGELES--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQB: GCEH) (“GCEH” or the “Company”) today announced that it has filed a Certificate of Amendment to its Certificate of Incorporation to effect a reverse stock split of its issued and outstanding common stock, at a ratio of 1-for-10. The effective time of the reverse stock split will be 8:00 a.m. ET on March 26, 2021. GCEH common stock will begin trading on a split-adjusted basis commencing upon market open on March 26, 2021. The reverse stock split was approved by GCEH’s stockholders at the Company’s annual meeting held on November 17, 2020.


“GCEH is a fully integrated farm-to-fuel provider of ultra low-carbon sustainable biofuels,” said CEO Richard Palmer. “This reverse stock split, as we previewed in our last shareholder’s letter, is a key part of our strategy to build shareholder value and keep powering future growth as we prepare to move to a national exchange like Nasdaq.”

When the reverse stock split becomes effective, every 10 shares of GCEH’s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock without any change in the par value per share or the total number of authorized shares. This will reduce the number of outstanding shares of the Company’s common stock from approximately 358.5 million shares to approximately 35.9 million shares. GCEH’s common stock will continue to trade on the OTCQB Venture Market under the symbol “GCEH,” but will be assigned a new CUSIP number, 378989206.

The reverse stock split will affect all shares of GCEH’s common stock outstanding immediately prior to the effective time of the reverse stock split, as well as the number of shares of common stock available for issuance under GCEH’s equity incentive plans. In addition, the reverse stock split will affect a reduction in the number of shares of common stock issuable upon the conversion of outstanding convertible securities (including Series B Convertible Preferred Stock) or upon the exercise of stock options or warrants outstanding immediately prior to the effectiveness of the reverse stock split.

No fractional shares shall be issued in connection with the reverse stock split. No certificates representing fractional shares of common stock shall be issued in connection with the reverse stock split and all certificates that otherwise would represent fractional shares shall be rounded up to the next whole share.

The reverse stock split impacts all holders of GCEH’s common stock proportionally and will not impact any stockholder’s percentage ownership of common stock (except to the extent the reverse stock split results in any stockholder receiving a whole share in lieu of a fractional share).

Registered stockholders holding their shares of common stock in book-entry or through a bank, broker or other nominee form do not need to take any action in connection with the reverse stock split. Stockholders holding physical stock certificates may send them to the Company's transfer agent, Colonial Stock Transfer Co., Inc., and exchange them for new certificates representing the post-split number of shares. Colonial Stock Transfer Co., Inc. can be reached at 801-355-5740.

About Global Clean Energy Holdings

Global Clean Energy Holdings, Inc. (“GCEH”) is a uniquely positioned vertically integrated renewable fuels company. Our strategy has been consistent from the company’s inception; control the full integration of our entire supply chain from the development, production and processing of feedstocks through to the refining and distribution of renewable fuels. GCEH’s wholly-owned plant science subsidiary, Sustainable Oils, Inc., owns an industry leading portfolio of intellectual property rights, including patents and production know-how, for the production of its proprietary varieties of Camelina sativa as a non-food based ultra low-carbon biofuels feedstock. GCEH is retooling and constructing its renewable diesel refinery in Bakersfield, California, which when completed in early 2022 will be the largest renewable fuels facility in the western United States and the largest in the country that produces renewable fuels from non-food based feedstocks. To learn more about the company, visit www.gceholdings.com.

Forward Looking Statements

Certain matters discussed in this press release are “forward-looking statements” of Global Clean Energy Holdings, Inc. as that term is defined under the federal securities laws. GCEH may, in some cases, use terms such as “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. The forward-looking statements include, but are not limited to, risks and uncertainties relating to the consummation and effect of the reverse stock split, the success and timing of the activities required to retool the Bakersfield refinery, the sufficiency of the funding available under the two credit facilities to complete the retooling and the startup of the refinery, the cost and availability of feedstocks to be used in the repurposed renewable fuels refinery, the effects of the COVID-19 pandemic, general economic and business conditions, and other risks described in GCEH’s filings with the United States Securities and Exchange Commission. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the statements. GCEH undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which GCEH becomes aware of, after the date hereof, except as required by applicable law or regulation.


Contacts

Communications Contact:

Melody Kean Haller (424) 318-3518

This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Middle East Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects" report has been added to ResearchAndMarkets.com's offering.


The Middle East is expected to witness 615 projects to commence operations during the period 2021-2025. Out of these, upstream projects would be 77, midstream would be 143, refinery at 83 and petrochemical would the highest with 312 projects respectively.

Scope

  • Updated information on oil and gas, planned and announced projects in the Middle East with start years up to 2025
  • Provides projects breakdown by sector, project type, and project stage at regional and country level
  • Provides key details such as project development stage, capacity, and project cost for planned and announced projects in the Middle East, wherever available
  • Provides EPC contractor, design/FEED contractor, and other contractor details for oil and gas projects, wherever available

Reasons to Buy

  • Obtain the most up to date information available on planned and announced projects in the Middle East across the oil and gas value chain
  • Identify growth segments and opportunities in the Middle East oil and gas industry
  • Facilitate decision making based on strong oil and gas projects data
  • Assess key projects data of your competitors and peers

Key Topics Covered:

1. Introduction

1.1 What is this Report About?

1.2 Market Definition

2. Oil and Gas Projects Outlook in Middle East

2.1 Oil and Gas Projects in Middle East, Overview of Projects Data

2.2 Oil and Gas Projects in Middle East, Projects by Sector

2.3 Oil and Gas Projects in Middle East, Projects by Type

2.4 Oil and Gas Projects in Middle East, Projects by Stage

2.5 Oil and Gas Projects in Middle East, Projects by Key Countries

3. Oil and Gas Projects Outlook in Iran

3.1 Oil and Gas Projects in Iran, Overview of Projects Data

3.2 Oil and Gas Projects in Iran, Projects by Sector

3.3 Oil and Gas Projects in Iran, Projects by Type

3.4 Oil and Gas Projects in Iran, Projects by Stage

3.5 Oil and Gas Projects in Iran, Projects Development Stage, Capacity, Project Cost, and Contractor Details

4. Oil and Gas Projects Outlook in Saudi Arabia

4.1 Oil and Gas Projects in Saudi Arabia, Overview of Projects Data

4.2 Oil and Gas Projects in Saudi Arabia, Projects by Sector

4.3 Oil and Gas Projects in Saudi Arabia, Projects by Type

4.4 Oil & Gas Projects in Saudi Arabia, Projects by Stage

4.5 Oil and Gas Projects in Saudi Arabia, Projects Development Stage, Capacity, Project Cost, and Contractor Details

5. Oil and Gas Projects Outlook in United Arab Emirates

5.1 Oil and Gas Projects in United Arab Emirates, Overview of Projects Data

5.2 Oil and Gas Projects in United Arab Emirates, Projects by Sector

5.3 Oil and Gas Projects in United Arab Emirates, Projects by Type

5.4 Oil & Gas Projects in United Arab Emirates, Projects by Stage

5.5 Oil and Gas Projects in United Arab Emirates, Projects Development Stage, Capacity, Project Cost, and Contractor Details

6. Oil and Gas Projects Outlook in Iraq

7. Oil and Gas Projects Outlook in Oman

8. Oil and Gas Projects Outlook in Turkey

9. Oil and Gas Projects Outlook in Qatar

10. Oil and Gas Projects Outlook in Israel

11. Oil and Gas Projects Outlook in Bahrain

12. Oil and Gas Projects Outlook in Jordan

13. Oil and Gas Projects Outlook in Kuwait

14. Oil and Gas Projects Outlook in Lebanon

15. Oil and Gas Projects Outlook in Yemen

16. Oil and Gas Projects Outlook in Kuwait-Saudi Arabia Partitioned Neutral Zone

17. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/k0x76l


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today announced that Crestwood Gas Services Holdings LLC, a company controlled by an investment fund sponsored by First Reserve, has priced a private placement of six million common units representing limited partner interests of Crestwood for gross proceeds of $132 million. The private placement is expected to close March 30, 2021, subject to customary closing conditions. Crestwood is not selling any common units and will not receive any proceeds from the private placement.


Citigroup acted as sole placement agent for the private placement of common units.

The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. The words “expects,” “believes,” “anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Crestwood believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statements will materialize. Important factors that could cause actual results to differ materially from those expressed in or implied from these forward-looking statements include the risks and uncertainties described in Crestwood’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made, and Crestwood assumes no obligation to update these forward-looking statements.


Contacts

Crestwood Equity Partners LP
Investor Contacts

Josh Wannarka, 713-380-3081
This email address is being protected from spambots. You need JavaScript enabled to view it.
Senior Vice President, Investor Relations, ESG & Corporate Communications

Rhianna Disch, 713-380-3006
This email address is being protected from spambots. You need JavaScript enabled to view it.
Director, Investor Relations

Sustainability and Media Contact

Joanne Howard, 832-519-2211
This email address is being protected from spambots. You need JavaScript enabled to view it.
Vice President, Sustainability and Corporate Communications

TULSA, Okla. TULSA, Okla.--(BUSINESS WIRE)--Unit Corporation (OTC Pink: UNTC) (Company) today announced that a broker dealer was approved by the Financial Industry Regulatory Authority (FINRA) to initiate a priced quotation of the Company's common stock on the OTC Pink under the ticker symbol "UNTC." Investors can find quotes for the Company's common stock on www.otcmarkets.com.


Phil Smith, Chief Executive Officer of the Company, stated, "We are pleased that our stock is now trading on the OTC Pink with the support of a market maker, as we believe it has the potential to increase the liquidity of our common stock on the OTC Pink, providing our current and future shareholders a platform on which they can conveniently trade our common stock."

About Unit Corporation

Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling and natural gas gathering and processing. For more information about Unit Corporation, visit its website at http://www.unitcorp.com.

Forward-Looking Statements

This press release has forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements, other than statements of historical facts, included in this release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur are forward-looking statements. Several risks and uncertainties could cause actual results to differ materially from these statements, including not having enough broker dealers making a market in the Company’s stock, limited liquidity in the Company’s stock and factors described occasionally in the Company's publicly available SEC reports. The Company assumes no obligation to update publicly such forward-looking statements, whether because of new information, future events, or otherwise.


Contacts

Linda Baugher
Investor Relations
(918) 493-7700
www.unitcorp.com

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) today announced a $28 million, 12-month contract award from the Department of Defense’s (DoD) Strategic Capabilities Office (SCO) for the final design of a transportable microreactor prototype under the second phase of its Project Pele initiative.


SCO is partnering with the U.S. Department of Energy to develop, prototype and demonstrate a mobile microreactor that can be used to provide resilient power needs for the DoD for a variety of operational needs. Consistent with its role as an independent safety and security regulator, the Nuclear Regulatory Commission is providing SCO with additional technical expertise and information on regulatory and licensing processes for advanced reactors to ensure a safe, secure and innovative design. Such reactors provide the opportunity to make the DoD’s domestic infrastructure more resilient to an electric grid attack, while fundamentally simplifying energy logistics and delivery for forward operating bases without increasing carbon emissions.

BWXT announced a $14 million award in March 2020 for initial design under the first phase of this project. Following completion of this second design phase of the project, as well as of the ongoing environmental analysis under the National Environmental Policy Act, SCO could competitively award the manufacturing and deployment of the transportable nuclear reactor prototype in a demonstration phase.

“We believe that our innovative designs, combined with our existential licensed facilities and manufacturing capabilities, set BWXT apart in the microreactor market,” said Ken Camplin, president of BWXT’s Nuclear Services Group. “Our engineering capabilities are ideally suited for projects like this that require pairing first-of-a-kind technological solutions with proven production techniques to develop a fresh option for meeting power generation needs.”

A team led by BWXT’s Advanced Technologies LLC subsidiary will conduct the work primarily at one of its Lynchburg, Virginia locations beginning in March 2021.

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, timing, impact and value, to the extent contract value can be viewed as an indicator of future revenues, of the second phase of the SCO contract, future work with SCO, or the exercise of any contract options. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract, funding of current or future work, and delays in and proving the technology. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT’s annual report on Form 10-K for the year ended Dec. 31, 2020 filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXTech and learn more at www.bwxt.com.


Contacts

Media Contact
Jud Simmons
Director, Media & Public Relations
434.522.6462
This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Contact
Mark Kratz
Vice President, Investor Relations
980.365.4300
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Hydropower Generation Market by Capacity, Medium Hydro Power Plant and Large Hydro Power Plant: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.


The global hydropower generation market was valued at $202.4 billion in 2019, and is projected to reach $317.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.

Hydropower is the electricity produced from generators driven by turbines that convert the potential energy of falling or fast-flowing water into mechanical energy. The hydropower generation is highly capital-intensive mode of electricity generation but being renewable source of energy with no consumables involved, there is very little recurring cost and hence no high long-term expenditure. It is cheaper as compared to electricity generated from coal and gas fired plants. It also reduces the financial losses due to frequency fluctuations and it is more reliable as it is inflation free due to no usage of fossil fuel.

The global hydropower generation market is primarily driven by the growing demand for reliable and continuous electricity from the industrial sector. Increase in supply-demand gap has been a prime concern for utilities which led to the significant investments toward the development of sustainable power generation sources including hydropower. Growing investments toward the replacement of traditional power generating technologies with advanced sustainable and clean solutions is expected to drive the growth of the market. For instance, regulators across European Union has set target to reduce carbon emissions by 20.0% by 2020 from 1990 levels, by promoting the utilization of renewable resources such as hydropower.

However, requirement of high capital and operational expenditures, along with long gestation periods restrains the growth of the global hydropower generation market. Furthermore, growth in demand for renewable power and surge in hydropower install capacity across the developing economies such as China and India are expected to provide new growth opportunities for the market during the forecast period.

The global hydropower generation market size is segmented on the basis of capacity and region. Based on capacity, the market is fragmented into small hydro power plant (up to 1MW), medium hydro power plant (1MW-10MW), and large hydro power plant (above 10MW). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 analysis:

The production of hydropower is expected to hamper during and after the lockdown due to halted development of hydro power projects due to non-availability of workers and limited liquidity. According to the UNIDO (United Nations Industrial Development Organization), 30.0%-70.0% of pre-COVID-19 workforce working on development of hydro power projects has migrated back to their hometowns due to uncertainties and loss of income during the lockdown. This non-availability or less availability of workforce will directly affect the annual production of hydropower due to halted development of power plants.

Key Benefits for Stakeholders

  • Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • The report outlines the current trends and future scenario of the global hydropower generation market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints & opportunities and their detailed impact analysis are explained in the global hydropower generation market study.
  • The profiles of key players and with their key strategic developments are enlisted in the global hydropower generation market report.

Market Dynamics

Drivers

  • Surge in demand for electricity across the developing economies
  • Increasing demand for clean energy across the globe

Restraint

  • High capital and operational expenditures

Opportunity

  • Growing demand for renewable power and surge in hydropower install capacity across the globe

Companies Profiled:

  • Andritz Hydro USA Inc.
  • GE Energy
  • CPFL Energia S. A.
  • Sinohydro Corporation
  • IHI Corporation
  • Alstom Hydro
  • China Hydroelectric Corporation
  • China Three Gorges Corporation
  • ABB Ltd
  • Tata Power Corporation

For more information about this report visit https://www.researchandmarkets.com/r/yg7k7k


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Crestwood and First Reserve have agreed to a series of transactions that provide First Reserve a complete exit from its investment in Crestwood Equity Partners LP, transferring control of the general partner interest to Crestwood and transitioning Crestwood to a publicly elected board of directors in accordance with ESG strategy

Transaction results in greater than 15% accretion to distributable cash flow per unit, increased free cash flow, larger public trading float and enhanced credit profile

Strong performance year-to-date and favorable full-year 2021 outlook drive an increased full-year 2021 Adjusted EBITDA estimate of $575 million to $625 million

HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today announced that it and Crestwood Holdings LLC (“Crestwood Holdings”) have executed a series of definitive agreements whereby Crestwood will acquire approximately 11.5 million common units and the general partner interest from Crestwood Holdings for total consideration of approximately $268 million. In addition, in a separate press release issued today, Crestwood announced that First Reserve priced a private placement of six million common units for total proceeds of $132 million. With the combination of these transactions, First Reserve expects to have fully exited its investment in Crestwood. Crestwood will retire the approximate 11.5 million outstanding common units currently held by First Reserve, and transition to a publicly elected Board of Directors. Additionally, the Board of Directors has authorized a $175 million opportunistic common and preferred unit repurchase program.


Highlights of the Transactions and Updated Strategic Initiatives:

  • Enhanced corporate governance: The transactions enable the implementation of a traditional public company governance structure with a publicly elected board of directors further ensuring alignment between management and the Board of Directors with common unitholders, consistent with Crestwood’s long-term ESG strategy.
  • Significantly accretive: Distributable cash flow per unit metrics are significantly enhanced with the buyback and retirement of approximately 11.5 million common units, or approximately 15% of total common units outstanding, resulting in annual common distribution savings of approximately $29 million based on the current annual rate of $2.50 per common unit.
  • Larger and more diversified investor base: The transactions and related dispositions of Crestwood common units by First Reserve are expected to result in the increase of Crestwood’s public trading float by approximately 12% with more diverse institutional ownership and allow First Reserve to exit its large block ownership position of approximately 24% of total common units outstanding in Crestwood in a strategic and well executed manner.
  • Credit enhancing: The transactions improve Crestwood’s outlook with the rating agencies with the complete repayment of the Term Loan B at Crestwood Holdings and improve Crestwood’s consolidated capital structure under the agencies’ methodology.
  • Unit Repurchase Program: In connection with the transactions and enhancements to Crestwood’s future governance structure and investor alignment, Crestwood’s Board of Directors has also approved a $175 million common unit and preferred unit repurchase program effective through December 31, 2022.

“Today marks a great milestone in the history of Crestwood with the buy-in of First Reserve’s interest in a transaction that enhances our alignment with common unitholders, improves our financial flexibility, and advances our strategic objectives to be a best-in-class midstream infrastructure company and maximize returns to our unitholders,” stated Robert G. Phillips, Chairman, President and Chief Executive Officer of Crestwood’s general partner. “I would like to thank the First Reserve organization for their support, guidance and partnership over the last ten years as they helped us tremendously to build Crestwood into a premier midstream company. Crestwood has established a track record of solid execution, disciplined capital allocation and a commitment to embracing a best-in-class MLP sustainability program. Today’s announcements are the next logical steps in our strategy to drive peer leading governance and set the stage for future growth by simplifying our organizational structure, increasing our public float and liquidity, and enhancing our financial flexibility as we strive to generate long-term value for our unitholders.”

Gary D. Reaves, Managing Director of First Reserve said, “First Reserve would like to thank the Crestwood organization for its partnership over the past ten years. While today marks the culmination of over a decade of First Reserve’s ownership of Crestwood, we will certainly maintain our long-standing relationships with the Crestwood team and all Crestwood stakeholders, and we exit this investment proud of all that Crestwood has achieved in the past decade including its leadership role in MLP sustainability initiatives. We continue to believe the outlook is bright for the Crestwood organization and look forward to watching its future success in the years to come.”

Transaction Details

Under the terms of the transactions, First Reserve will exit its investment in Crestwood which included 17.5 million common units, approximately 24% of total common units outstanding, and control of the general partner. In a series of transactions, First Reserve has entered into agreements with third parties to sell six million common units representing limited partner interests in Crestwood, with expected total proceeds of $132 million. In addition, Crestwood expects to repurchase the general partner interest and the remaining 11.5 million units held by First Reserve with $268 million drawn on its existing $1.25 billion revolving credit facility.

Following completion of the transactions, Crestwood will have approximately 62.8 million common units outstanding, representing an approximate 15% reduction in total common unit count. Crestwood’s buyback of First Reserve’s common units results in annual cash distribution savings of approximately $29 million based on the current annual distribution rate of $2.50 per common unit. The closing of the repurchase of First Reserve’s common units is expected to occur on March 30, 2021 and the closing of the acquisition of the general partner interest is expected to occur in the coming months and is not subject to any closing conditions.

The transactions between Crestwood and First Reserve were unanimously approved by the Conflicts Committee of the Board of Directors of the general partner of Crestwood following review with legal counsel Akin Gump Strauss Hauer & Feld LLP and rendering of a fairness opinion to the Conflicts Committee from Evercore. Following the approval by the Conflicts Committee, these transactions were unanimously approved by the Board of Directors of the general partner, with First Reserve affiliated directors abstaining.

Today’s announcement does not affect Crestwood’s nor First Reserve’s ownership in Crestwood Permian Basin Holdings LLC (“CPJV”). CPJV was formed in November 2016 to develop, own, and operate vital midstream infrastructure assets in the Delaware Basin and is held in a separate 10-year fund that First Reserve formed in 2014.

Crestwood to Transition to an Elected Board

Gary D. Reaves and William R. Brown will resign from the Board of Directors at closing of the initial transaction, which is scheduled for March 30, 2021. Going forward, to enhance its corporate governance sustainability initiatives, Crestwood will transition to a fully elected board with traditional public company oversight that includes a staggered board feature, term limits, and a continued commitment to board diversity. Crestwood will maintain a board composed of seven directors until such time as it can appoint two independent replacements.

Revised 2021 Outlook

Based on preliminary results, Crestwood estimates it will exceed its first quarter 2021 budget as a result of outperformance driven by stronger than expected commodity prices. Based on Crestwood’s preliminary first quarter 2021 results, today’s announced transactions, and a favorable commodity price outlook for the remainder of 2021, Crestwood is revising its full-year financial outlook as it no longer expects the previous Adjusted EBITDA range of $550 million to $610 million to accurately reflect business performance in 2021. These projections are subject to risks and uncertainties as described in the “Forward-Looking Statements” section at the end of this release.

  • Net income of $100 million to $150 million
  • Adjusted EBITDA of $575 million to $625 million
  • Contribution by operating segment is set forth below:

$US millions

 

Adj. EBITDA Range

Operating Segment

 

Low

 

High

Gathering & Processing

 

$450

-

$490

Storage & Transportation

 

80

-

85

Marketing, Supply & Logistics

 

100

-

105

Less: Corporate G&A

 

(55)

 

(55)

FY 2021 Totals

 

$575

-

$625

  • Distributable cash flow available to common unitholders of $335 million to $385 million
  • Free cash flow after distributions of $130 million to $180 million
  • Full-year 2021 coverage ratio expected to be greater than 2.00x
  • Full-year 2021 leverage ratio expected to be lower than 4.25x
  • Growth project capital and joint venture contributions and maintenance capital spending remain unchanged in the range of $35 million to $45 million and $20 million to $25 million, respectively

Common and Preferred Unit Repurchase Program

Crestwood announced that its Board of Directors has authorized a $175 million common unit and preferred unit repurchase program effective immediately through December 31, 2022. This program is intended to supplement the company’s deleveraging goals and utilize additional free cash flow to optimize its long-term cost of capital and generate value for common unitholders. Crestwood plans to continue to prioritize its capital allocation strategies towards first achieving its long-term leverage target of 3.5x to 4.0x, but believes that the unit repurchase program is an incremental tool that can be used for allocation of strong free cash flow generation going forward to accomplish its chief objective of maximizing value for its investors. Crestwood may purchase common and preferred units from time to time in the open market in accordance with applicable securities laws at current market prices, in privately negotiated transactions or pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934. The timing and amount of purchases under the program will be determined based on ongoing assessments of leverage goals, growth capital opportunities, financial performance and outlook, and other factors, including acquisition opportunities and market conditions. The unit repurchase program does not obligate Crestwood to purchase any specific dollar amount or number of units and may be suspended or discontinued at any time.

Advisors

Citi served as Crestwood’s financial advisor and Hunton Andrews Kurth LLP and Vinson & Elkins LLP served as legal advisors. Evercore served as financial advisor to Crestwood’s Conflicts Committee and Akin Gump Strauss Hauer & Feld LLP served as legal advisor. Simpson Thacher & Bartlett LLP served as legal advisor to First Reserve. Baker Botts L.L.P. served as legal advisor to Citi.

Non-GAAP Financial Measures

Adjusted EBITDA, distributable cash flow and free cash flow are non-GAAP financial measures. The accompanying schedules of this news release provide reconciliations of these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with GAAP. Our non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net income or operating income or any other GAAP measure of liquidity or financial performance.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. The words “expects,” “believes,” “anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements, including statements regarding our revised 2021 outlook, are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Crestwood believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statements will materialize. Important factors that could cause actual results to differ materially from those expressed in or implied from these forward-looking statements include the risks and uncertainties described in Crestwood’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made, and Crestwood assumes no obligation to update these forward-looking statements.

About First Reserve

First Reserve is a leading global private equity investment firm exclusively focused on energy, including related industrial markets. With over 35 years of industry insight, investment expertise and operational excellence, the firm has cultivated an enduring network of global relationships and raised more than $32 billion of aggregate capital since inception. First Reserve has completed approximately 700 transactions (including platform investments and add-on acquisitions), creating several notable energy companies throughout the firm’s history. Its portfolio companies have operated on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services, and associated infrastructure. Please visit www.firstreserve.com for further information.

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood Equity is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.

CRESTWOOD EQUITY PARTNERS LP

Full Year 2021 Adjusted EBITDA, Distributable Cash Flow and Free Cash Flow Guidance

Reconciliation of Non-GAAP Financial Measures

(in millions)

(unaudited)

 

Expected 2021 Range

 

Low - High

Net Income Reconciliation

 

Net income (b)

$100 - $150

Interest and debt expense, net (a)

160 - 165

Depreciation, amortization and accretion

235 - 240

Unit-based compensation charges

25 - 30

Earnings from unconsolidated affiliates (b)

(40) - (45)

Adjusted EBITDA from unconsolidated affiliates

85 - 90

Adjusted EBITDA

$575 - $625

 

 

Cash interest expense (c)

(145) - (150)

Maintenance capital expenditures (d)

(20) - (25)

PRB cash received in excess of recognized revenues (e)

25 - 30

Adjusted EBITDA from unconsolidated affiliates

(85) - (90)

Distributable cash flow from unconsolidated affiliates

80 - 85

Cash distributions to preferred unitholders (f)

(100)

Distributable cash flow attributable to CEQP (g)

$335 - $385

Cash Flows from Operating Activities Reconciliation

 

Net cash provided by operating activities, net

$410 - $460

Interest and debt expense, net (a)

160 - 165

Adjusted EBITDA from unconsolidated affiliates

85 - 90

Earnings from unconsolidated affiliates (b)

(40) - (45)

Amortization of debt-related deferred costs

(5) - (10)

Changes in operating assets and liabilities, net

(35) - (40)

Adjusted EBITDA

$575 - $625

 

 

Cash interest expense (c)

(145) - (150)

Maintenance capital expenditures (d)

(20) - (25)

PRB cash received in excess of recognized revenues (e)

25 - 30

Adjusted EBITDA from unconsolidated affiliates

(85) - (90)

Distributable cash flow from unconsolidated affiliates

80 - 85

Cash distributions to preferred unitholders (f)

(100)

Distributable cash flow attributable to CEQP (g)

$335 - $385

 

 

Less: Growth capital expenditures

35 - 45

Less: Distributions to common unitholders

165

Free cash flow after distributions (h)

$130 - $180

  1. Includes gain (loss) on modification/extinguishment of debt, net
  2. Does not include any potential impact on our earnings from unconsolidated affiliates related to Consolidated Edison, Inc.'s evaluation of strategic alternatives with respect to our Stagecoach Gas Services LLC equity investment.
  3. Cash interest expense less amortization of deferred financing costs.
  4. Maintenance capital expenditures are defined as those capital expenditures which do not increase operating capacity or revenues from existing levels.
  5. Cash received from customers of our Powder River Basin operations pursuant to certain contractual minimum revenue commitments in excess of related revenue recognized under FASB ASC 606.
  6. Includes cash distributions to preferred unitholders and Crestwood Niobrara preferred unitholders.
  7. Distributable cash flow is defined as Adjusted EBITDA, adjusted for cash interest expense, maintenance capital expenditures, income taxes, the cash received from our Powder River Basin operations in excess of revenue recognized, and our proportionate share of our unconsolidated affiliates' distributable cash flow. Distributable cash flow should not be considered an alternative to cash flows from operating activities or any other measure of financial performance calculated in accordance with generally accepted accounting principles as those items are used to measure operating performance, liquidity, or the ability to service debt obligations. We believe that distributable cash flow provides additional information for evaluating our ability to declare and pay distributions to unitholders. Distributable cash flow, as we define it, may not be comparable to distributable cash flow or similarly titled measures used by other companies.
  8. Free cash flow after distributions is defined as distributable cash flow attributable to common unitholders less growth capital expenditures and distributions to common unitholders. Free cash flow after distributions should not be considered an alternative to cash flows from operating activities or any other measure of liquidity calculated in accordance with generally accepted accounting principles as those items are used to measure liquidity or the ability to service debt obligations. We believe that free cash flow after distributions provides additional information for evaluating our ability to generate cash flow after paying our distributions to common unitholders and paying for our growth capital expenditures.

 


Contacts

Crestwood Equity Partners LP
Investor Contacts

Josh Wannarka, 713-380-3081
This email address is being protected from spambots. You need JavaScript enabled to view it.
Senior Vice President, Investor Relations, ESG & Corporate Communications

Rhianna Disch, 713-380-3006
This email address is being protected from spambots. You need JavaScript enabled to view it.
Director, Investor Relations

Sustainability and Media Contact

Joanne Howard, 832-519-2211
This email address is being protected from spambots. You need JavaScript enabled to view it.
Vice President, Sustainability and Corporate Communications

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


The global market for Biogas Plants is projected to reach US$ 6.8 billion by the year 2027, trailing a post COVID-19 CAGR of 6.7% over the analysis period 2020 through 2027.

The severe impact of COVID-19 pandemic in areas with high level of air pollution has prompted the researcher community to explore the direct link between severity of the infection and air quality. Various scientists have indicated a perceived association between spread of the virus along with fatality rates and air pollution. Poor air quality adversely affects human health and leaves people susceptible to various infectious diseases including COVID-19.

In 2020, medical conditions associated with air pollution are estimated to claim around 7 million lives globally. Air pollution is a key contributor to various medical conditions including heart disease, stroke, chronic obstructive pulmonary diseases, respiratory infections and lung cancer. The impact of pollution on human health and the immune system makes can be hold responsible for severe COVID-19 symptoms experienced by a large number of people living in polluted areas.

For instance, Wuhan, the epicenter of the pandemic, is one of the most polluted cities globally. In addition, a significant fraction of fatalities related to COVID-19 in Italy have been registered in areas with poor air quality. Moreover, the COVID-19 virus is carried by polluted air as it can stick to PM10 or PM25 particles to remain airborne for a long time. The fact indicates that areas with high concentration of particulate matter hold high risk of virus transmission.

These perceptions point towards effective measures to implement green options, including biogas, for reducing carbon emissions and air pollution levels. The production and utility of biogas, mainly bio-methane, improves air quality. Biogas presents an eco-friendly substitute to fossil fuels for generating heat and electricity, and supporting transportation.

Bio-methane presents an effective option to reduce greenhouse gas emissions and mitigate climate change, which holds positive implications for human health. Cities and countries that have embraced clean air policies such as the use of biogas as transportation fuel are expected to witness less mortality, paving way for effective strategies to promote these sustainable options.

The wake of COVID-19 pandemic has provided countries with the unique opportunity for rebuilding on low-carbon, sustainability agendas for dealing with rising concerns over climate change. The scenario has prompted regions to shift away from fossil fuels towards green technologies, with Europe leading the pack in these endeavors.

The drive is likely to benefit sustainable options including wind, solar and hydrogen along with biogas that offers more than energy and holds potential to cut greenhouse gas emissions by around 12% by the year 2030. The anaerobic digestion process intended to produce biogas involves treatment of organic waste that otherwise emits hazardous emissions in landfills. The approach converts the waste into green gas that can be exploited for transport, heat and power.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 and a Looming Global Recession
  • COVID-19 Pandemic Derails Biogas Projects and Dampens Investor Interest
  • COVID-19 Redirects Focus on Green Principles and Presents Unique Prospects for Biogas
  • Perceived Correlation between COVID-19 Virus Impact & Air Pollution Shifts Focus toward Biogas Production
  • Pressing Need to Reduce Fossil Fuel Dependency Spurs Opportunities for Biogas
  • Growing Focus on Renewables Benefits the Biogas Market
  • Biogas: A Prelude
  • Benefits & Uses
  • Biogas Feedstock
  • Biogas Plants: A Brief Review
  • Steps Involved in the Production of Biogas
  • Biogas Plant Equipment/Components
  • Market Outlook
  • Major Regional Markets
  • Biogas to Amass Staggering Gains with Favorable Drivers
  • Strong Focus on Renewable Energy to Favor Biogas Projects in China
  • Policy Support Favor Growth
  • Biogas Plants Feed Stocks Vary Depending on Regional Specifications
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS (Total 119 Featured):

  • 2G Energy AG
  • AEV Energy GmbH
  • Agrinz Technologies GmbH
  • Air Liquide S.A
  • Ameresco, Inc
  • Beijing Sanyi Green Energy Development Co., Ltd
  • Bio-En Power Inc
  • Biofrigas Sweden AB
  • CH4 Biogas, LLC
  • DMT Environmental Technology
  • EnviTec Biogas AG
  • Gasum AB
  • IES BIOGAS srl
  • PlanET Biogas Global GmbH
  • Quadrogen Power Systems, Inc
  • Scandinavian Biogas Fuels AB
  • Schmach Biogas GmbH
  • Wartsila Oyj Abp
  • Weltec Biopower GmbH

3. MARKET TRENDS & DRIVERS

  • Technology Innovations & Advancements Benefit Biogas Adoption
  • Dependence on Crude Oil: A Fundamental Driver
  • Environmental Concerns Drive Market Growth
  • Investments Drive Momentum
  • Sustained Rise in Electric Power Consumption Drives the Need for Alternative Energy Sources
  • Rapid Urbanization Triggers Growth
  • Transportation Industry and Growing Interest in Biogas
  • Rise in use of Agricultural Residues as Feedstock
  • Rise in Feedstock Availability and Escalating Volumes of MSW Augurs Well for Market Growth
  • CHP: An Expanding Market
  • Efforts to Exploit Different Aspects of Biogas Production
  • Facilities Turn to Upgrade to Bio-Methane
  • Industry Centers Efforts to Make Biogas Production More Profitable
  • Emerging Fuel Production Technologies to Streamline Biogas Production Process

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

  • GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 141

For more information about this report visit https://www.researchandmarkets.com/r/t3zz8i


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

HOUSTON--(BUSINESS WIRE)--$NEXT #carboncapture--NextDecade Corporation (NextDecade) (NASDAQ: NEXT), a clean energy company accelerating the path to a net-zero future, and Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE: OXY) and global leader in carbon dioxide (CO2) management, today announced that they have executed a term sheet for the offtake and permanent geologic storage of CO2 captured from NextDecade’s planned Rio Grande LNG project in the Port of Brownsville, Texas.


Earlier this month, NextDecade announced the formation of NEXT Carbon Solutions, a wholly owned subsidiary that is expected to – among other things – develop one of the largest carbon capture and storage (CCS) projects in North America at Rio Grande LNG. NEXT Carbon Solutions’ CCS project at Rio Grande LNG is expected to enable the capture and permanent geologic storage of more than five million tonnes of CO2 per year.

Under the terms of the agreement, OLCV will offtake and transport CO2 from the Rio Grande LNG project and permanently sequester it in an underground geologic formation in the Rio Grande Valley, where there is vast CO2 storage capacity, pursuant to a CO2 Offtake Agreement and a Sequestration and Monitoring Agreement to be negotiated by the parties.

We are pleased to be working with OLCV to design, construct, and operate a CO2 pipeline and permanent storage facility in South Texas,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “OLCV’s expertise and reliability complement the transformative and impactful contributions our NEXT Carbon Solutions business is making to the global energy industry, and in particular the proprietary processes we are advancing to lower the cost of utilizing CCS technology.”

We are excited to partner with NextDecade to enable the supply of low-carbon natural gas to international markets. Signing this agreement is an important milestone in scaling up OLCV’s pure sequestration business and providing services to help others achieve their net zero goals,” said Richard Jackson, Occidental’s President, Operations, U.S. Onshore Resources and Carbon Management. “The CO2 sequestration facility proposed for South Texas is a great example of the many sequestration hubs that OLCV plans to develop across the United States, and eventually around the globe.”

To realize the significant benefits associated with co-development of Rio Grande LNG and the CCS project, NextDecade anticipates achieving final investment decision (FID) on a minimum of two trains at Rio Grande LNG in 2021 and FID on NEXT Carbon Solutions’ CCS project soon after FID at Rio Grande LNG.

About NextDecade Corporation

NextDecade Corporation (NextDecade) is committed to providing the world access to cleaner energy. NextDecade, through its wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, is developing a 27 mtpa LNG export project in South Texas along with one of the largest carbon capture and storage projects in North America. The Rio Grande LNG project is expected to be the largest and greenest U.S. LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, visit www.next-decade.com.

About Oxy Low Carbon Ventures

Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental, an international energy company with assets in the United States, Middle East, Africa and Latin America. OLCV is focused on advancing cutting-edge, low-carbon technologies and business solutions that enhance Occidental’s business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally. Visit www.oxylowcarbon.com for more information.

NextDecade Forward-Looking Information

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about progress in the development of NextDecade’s LNG liquefaction and export projects and the timing of that progress; NextDecade’s final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”) and the timing of that decision; the successful completion of the Terminal by third-party contractors and an approximately 137-mile pipeline to supply gas to the Terminal being developed by a third-party; NextDecade’s ability to secure additional debt and equity financing in the future to complete the Terminal; the accuracy of estimated costs for the Terminal; statements that the Terminal, when completed, will have certain characteristics, including amounts of liquefaction capacities; the development risks, operational hazards, regulatory approvals applicable to the Terminal’s and the third-party pipeline's construction and operations activities; NextDecade’s anticipated competitive advantage and technological innovation which may render its anticipated competitive advantage obsolete; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; NextDecade’s ability to develop and implement carbon capture and storage or similar technology to reduce anticipated carbon emissions from the Terminal; the novel coronavirus pandemic and its impact on NextDecade’s business and operating results, including any disruptions in NextDecade’s operations or development of the Terminal and the health and safety of NextDecade’s employees, and on NextDecade’s customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which NextDecade is engaged; management of growth; general economic conditions; NextDecade’s ability to generate cash; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2020 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, acquiring all necessary permits and approval, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.


Contacts

NextDecade
Patrick Hughes
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (832) 209-8131

Oxy Low Carbon Ventures
Eric Moses
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (713) 497-2017

Strategic capital commitment to fuel Navis growth in SaaS, digitalization and expansion to inland and other supply chain solutions

OAKLAND, Calif.--(BUSINESS WIRE)--Navis, a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, announced that Accel-KKR, a Silicon Valley-based technology-focused investment firm, has reached an agreement to acquire Navis from Cargotec. The transaction is subject to normal regulatory approvals and works council consultation in relevant jurisdictions.


Navis is recognized as a global leader providing mission critical software solutions and services for terminal, vessel and carrier, and inland freight operators and will play an important future role in delivering best-in-class technology and innovation to keep global cargo flowing.

“We are thrilled to welcome the entire Navis team to the Accel-KKR portfolio of market-leading software companies,” said Park Durrett, Managing Director of Accel-KKR. “In today’s world, the movement of goods for a vast array of shippers and operators has increased exponentially in volume, velocity and complexity, amplifying the need for powerful workflow optimization and full visibility into every corner of supply chains. Navis will extend Accel-KKR’s focus on investing in solutions that can drive toward a true end-to-end, all-in-one execution and visibility platform that shippers and operators have been seeking.”

Under Cargotec’s ownership and investment, Navis established a market leading position in terminal operating systems and made a number of strategic acquisitions that strengthened Navis’ presence in enterprise software for global logistics providers.

“Navis is looking forward to the next stage in our growth with Accel-KKR, a technology-focused investment firm that brings a wealth of enterprise software expertise, network and global resources,” said Benoit de la Tour, Navis President and CEO. “We are also grateful for the strategic support and strong partnership Cargotec has provided during their ownership.”

Citi is serving as financial advisor and Reinhart Boerner Van Deuren s.c. is serving as legal counsel to Cargotec.

About Navis, LLC

Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com

About Accel-KKR

Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with offices in Atlanta and London. Visit accel-kkr.com to learn more.

About Cargotec Corporation

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed United Nations Global Compact’s Business Ambition for 1.5°C. The company’s sales in 2020 totalled approximately EUR 3.3 billion and it employs around 11,500 people. www.cargotec.com


Contacts

Jennifer Grinold
Navis, LLC
T+1 510 267 5002
This email address is being protected from spambots. You need JavaScript enabled to view it.

Geena Pickering
Affect
T+1 212 398 9680
This email address is being protected from spambots. You need JavaScript enabled to view it.

  • A new energy storage system in California integrating the microgrid already deployed in 2020
  • 9.6 MWh energy storage to increase the resilience of the microgrid enhancing grid stability and mitigating the effects of blackouts
  • The system responds to the main challenges in a microgrid, such as the lack of spinning reserve, while maximizing the penetration of 8.9 GWh of solar energy every year

PARIS & MILAN--(BUSINESS WIRE)--Regulatory News:


Engie EPS (Paris:EPS) announces to have been awarded for the development of a new energy storage system in Anza, California, confirming again the competitive strength and excellence of the Industrial Solutions business line.

The new system will work synergically with the energy storage system that Engie EPS deployed in 2020 enhancing the performance of the microgrid commissioned in December last year.

Engie EPS’ will supply its cutting-edge technology to boost the microgrid storage capacity up to 4.8 MVA and 9.6 MWh – a system size that could alone provide clean spinning reserve to thermal generation up to 150 MW.

Engie EPS’ energy storage system will increase the resilience of the microgrid enhancing grid stability through peak shaving and will maximize the integration of 4.6 MWp PV generation that will generate approx. 8.9 GWh of solar energy every year. Powering critical and emergency loads, the energy storage system will also enable a seamless transition to off-grid operation in case of grid blackouts.

“This is the latest result in a long series of successes in the American continent confirming Engie EPS’ competitive strength in this highly competitive market, where we not only have 600 MWh of secured projects under development but also a strong record of excellence in deploying complex microgrids. Our 15-year expertise in microgrids allows us to integrate all kind of power sources, coupling traditional thermal generation with renewables, granting our clients a cleaner energy mix with the best of performance and reliability”, commented Carlalberto Guglielminotti, CEO and General Manager of Engie EPS.

The project execution phase has already started and commissioning is scheduled for November 2021.

* * *

ENGIE EPS

Engie EPS is the technology and industrial player within the ENGIE group, developing technologies to revolutionize the paradigm in the global energy system towards renewable energy sources and electric mobility. Listed on Euronext Paris regulated market (EPS.PA), Engie EPS forms part of the CAC® Mid & Small and CAC® All-Tradable financial indices. Its registered office is in Paris, with research, development and production located in Italy.
For further information, go to www.engie-eps.com


Contacts

Press Office: Simona Raffaelli, Image Building, +39 02 89011300, This email address is being protected from spambots. You need JavaScript enabled to view it.
Corporate and Institutional Communication: Cristina Cremonesi, +39 345 570 8686, This email address is being protected from spambots. You need JavaScript enabled to view it.
follow us on LinkedIn

DUBLIN--(BUSINESS WIRE)--The "Triazine Market Research Report: By Type (1,3,5-Triazine, 1,2,3-Triazine, 1,2,4-Triazine), Product (Monoethanolamine, Monomethylamine), End Use (Medical, Agriculture, Chemical, Oil & Gas) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.


The global triazine market to reach $814.55 million by 2030 from $518.68 million in 2019, at 5.6% CAGR during 2020-2030.

Triazine offers pharmacological properties, such as anti-inflammatory and antimicrobial action, owing to which the compound finds several applications in the medical sector. Besides, the molecule is also significant in pharmaceutical chemistry, as it is used in the development of new drugs. Additionally, 1,3,5-triazine isomer is used as a prominent structure in acetoguanamine, aceto-guanide, ammeline, and cyanuric acid, as it is one of the oldest-known organic compounds. Naturally occurring antibiotics, like toxoflavin, reumycin, and fervenulin, contain triazine ring structure, which makes the compound an important ingredient for novel drugs.

Moreover, the compound is used as a scavenger chemical in oil reservoirs to separate hydrogen sulfide (H2S) from crude oil through stripping process. Petroleum companies keep a track on H2S concentration in reservoirs, as it is a flammable, corrosive, and life-threatening gas, to comply with safety protocols related to operation and exploration of oilfields. Triazine is also injected into production pipelines to minimize corrosion and operational risks imposed by petroleum products.

The oil & gas industry primarily uses 1,3,5-triazine-based derivative for scavenging purposes, as it is the most stable isomeric form of the compound and is an important component of monoethanolamine (MEA). The MEA is used by the petroleum companies as a scavenger in hydrogen stream and H2S mercaptan. Thus, the expansion of the oil & gas sector, on account of the surge in exploration and production (E&P) activities, will amplify the usage of MEA in the foreseeable future.

Market Dynamics

Trends

  • Growing mergers and acquisitions

Drivers

  • Increasing application in petrochemical industry
  • Increasing application in medical industry
  • Increasing application in agrochemicals
  • Impact analysis of drivers on market forecast

Restraints

  • Increasing concerns about formaldehyde emissions
  • Impact analysis of restraints on market forecast

Companies Profiled

  • Ashland Global Holdings Inc.
  • Baker Hughes Company
  • BASF SE
  • Foremark Performance Chemicals
  • Dow Inc.
  • Eastman Chemical Company
  • Evonik Industries AG
  • Haihang Commercial Holding Co. Ltd.
  • Hexion Inc.
  • Stepan Company

For more information about this report visit https://www.researchandmarkets.com/r/38p5ld


Contacts

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

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

TempSafe Electrocard available for pre-order.

VANCOUVER, British Columbia--(BUSINESS WIRE)--$YNV #coldchain--Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF) announces its first commercial delivery of a new temperature indication solution to market with SpotSee, the global leader in shock, vibration and temperature monitoring through low-cost, connected solutions.



Working with SpotSee, Ynvisible tailored a low power, branded, calibrated temperature indication label for cold-chain and temperature-controlled shipment and storage of goods such as blood bags, premium foods, biomaterials, and medicines. Ynvisible manufactures the electrochromic display in high volumes and delivers the display driving protocol, while supporting the integration of the display in the final smart-label. Ynvisible's displays allow users to view the indication with the unaided eye.

“With the TempSafe Electrocard, we now expand our solutions offering with a temperature measuring electronic smart-label, a fully customizable time/temperature indicator solution, that can achieve sub-zero temperatures, as well as visually indicate Above and Below thresholds with Ynvisible´s electrochromic displays." says Tony Fonk, CEO SpotSee.

“Ynvisible's design, prototyping, printed electronics production, and technology transfer services make speed to market easy for our customers," continues Tommy Hoglund, VP of Sales and Marketing Ynvisible.

“We are honored to work with the industry experts to design, produce, and market a smart label solution incorporating ynvisible™ printed electrochromic displays. TempSafe Electrocard are the first temperature indicators in market to incorporate Ynvisible’s low-power, printed electrochromic display," says Michael Robinson, CEO Ynvisible.

"Ynvisible is now increasingly focused on the smart-label markets. We have proven our ability to produce hundreds of thousands of electrochromic displays in roll-to-roll format. This format makes it easy for scalable integration into smart labels. We can print in several tens of millions of units per year. Our customers’ solutions will benefit from our electrochromic display know-how and production capacity.” Mr. Robinson continues.

More info and pre-order: https://www.ynvisible.com/tempsafe

In addition to launching the TempSafe Electrocard, SpotSee and Ynvisible are also collaborating on next generation capabilities for temperature sensing and indication in smart labels. Both companies are partners in the project CHARISMA funded by European Union’s Horizon 2020Marie Skłodowska-Curie Actions program. The project co-ordinated by the Institute of Organic Chemistry, Vienna University (Austria), includes also universities Universida de Nova de Lisboa (Portugal), Tampere University (Finland), plus other partner companies Science Made Simple, Packdesign ID Oy, and Trelic Oy.

ABOUT SPOTSEE

SpotSee is an internet of things end-to-end solution provider that enables customers to spot damage in their operations and see it in real time. SpotSee’s mission is to help customers deter, detect and diagnose changing conditions and deliver that data to customers’ fingertips from anywhere in the world. SpotSee devices monitor shock, vibration, temperature and other environmental conditions through its market-leading brands such as ShockWatch®, ShockLog®, SpotBot™, OpsWatch, WarmMark®, Thermax®, TempSafe®, TMC Hallcrest and LCR Hallcrest. The company has a global network of over 1,800 sales and technical service partners in 62 countries. SpotSee is headquartered in Dallas, Texas, with operations in Brazil, Netherlands, United Kingdom, China, Mexico, Illinois, and Texas. For more information, visit www.spotsee.io

ABOUT YNVISIBLE INTERACTIVE INC.

Ynvisible aims to be a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things ("IoT") and smart objects. Ynvisible has the experience, know-how and intellectual property in electrochromic materials, inks, and systems. Ynvisible's interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products. Additional information on Ynvisible is available at www.ynvisible.com

ON BEHALF OF THE BOARD OF DIRECTORS

"Michael Robinson," CEO, Ynvisible Interactive Inc.

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.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's forecast of sales, cost of sales, operating expenses and income from other sources; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future marketing and operating plans are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to additional costs being subsequently identified and the allocation of costs between reporting periods; and the possibility that the actual financial results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.


Contacts

Jill Malone, Director of Marketing at SpotSee
This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations
+1 778-683-4324
This email address is being protected from spambots. You need JavaScript enabled to view it.

Houston Channel Expansion Progressing and Port Improvements Continue

HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority met virtually in a regular session on Tuesday. Port Chairman Campo opened the meeting with an update on the progress of the Houston Ship Channel Expansion program Project 11. “It’s moving from planning and design into execution and moving dirt this year,” he said.



Chairman Campo then said the next steps are to negotiate the Project Partnership Agreement, or PPA, with the U.S. Army Corps of Engineers, initiate those parts of the project that Port Houston can start, and continue exploring how the industry will contribute to project costs.

The Chairman also emphasized that the U.S. Army Corps of Engineers has committed to implement its “New Start” authority, and federal appropriations for the first contracts for Segment 1A, before the fourth quarter of this year. He also highlighted the significant public interest in the Project 11 microsite https://www.expandthehoustonshipchannel.com/.

In his operational update, Executive Director Roger Guenther reported that cargo volumes in March have been solid, and indications are that this level of activity would continue through at least mid-year.

He said, however, “not surprisingly,” both container volume and export loads were down in February due to the winter storm. “Production of petrochemical products like resin was hampered because many facilities were down due to the storm, but we think that production will recover soon,” Guenther said.

Commission actions taken at the meeting supported continued investment in growth, including approving a lease agreement with Portwall Partners, Ltd. for resin packaging operations at a 55-plus acre site near the Bayport Container Terminal.

The next regular Port Commission meeting is scheduled for April 27.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.


Contacts

Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Hydrogen use cases for microgrids include resiliency, renewables integration, and clean mobility


BOULDER, Colo.--(BUSINESS WIRE)--#CleanEnergy--A new report from Guidehouse Insights provides detailed and actionable recommendations on how distributed hydrogen systems can help microgrids reach 100% clean energy and net zero carbon goals.

Hydrogen is enjoying a resurgence among energy ecosystem and clean transportation stakeholders, and a variety of governments and private sector vendors are now experimenting with new applications for green and blue hydrogen. Though many of these efforts are focused on large-scale infrastructure plays, promising innovation is occurring with smaller distribution systems applicable for microgrids. Click to tweet: According to a new report from @WeAreGHInsights, distributed hydrogen systems can drive clean energy microgrids.

“Hydrogen is emerging as a key enabling technology for microgrids and is helping to further enable resiliency, renewables integration, and clean mobility,” says Peter Asmus, research director with Guidehouse Insights. “In the coming years, incremental innovation and strategic partnerships should help to drive hydrogen adoption in microgrids.”

To position for success, Guidehouse Insights recommends stakeholders develop an incremental approach to hydrogen deployment to mirror current microgrid practices, learn about scale and synergy of distributed hydrogen systems from early pilot projects, forge strategic partnerships for multiservice microgrids (electricity, thermal, transit, and water), and choose projects in the most challenging markets initially before moving to the most promising.

The report, Distributed Hydrogen Systems Drive Clean Energy Microgrids, looks at early pilot programs showcasing distributed hydrogen systems and microgrids. The majority of microgrids deploying distributed hydrogen systems as of early 2021 have been remote microgrids developed in locations where there is no traditional grid, let alone pipeline infrastructure for natural gas that could be repurposed for hydrogen. Hydrogen was the key enabling technology to reach 100% renewable energy for most of the case studies presented in the report. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

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

About Guidehouse

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

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


Contacts

Lindsay Funicello-Paul
+1.781.270.8456
This email address is being protected from spambots. You need JavaScript enabled to view it.

PARIS--(BUSINESS WIRE)--Technip Energies (PARIS:TE), a global leader in engineering & technology for the energy industry and its transition, and NIPIGAS, a Russian leader in engineering, procurement and construction management, are announcing their intention to create NOVA ENERGIES, a joint venture (JV) to drive the energy transition journey in Russia. The heads of terms agreement defining the path forward was signed today by Arnaud Pieton, Chief Executive Officer of Technip Energies and Dmitry Evstafiev, Chief Executive Officer of NIPIGAS.


This new joint venture will provide a wide range of expertise, including Engineering and Design, Project Documentation and CAPEX estimates ("FEED/PD") as well as Engineering, Procurement, Construction, Installation, and Commissioning (“EPC/EPCm”) for CO2 removal, Carbon Capture, clean H2 production, Bio Energies, Bio Refineries, Bio Chemistry, Ammonia, as well as other energy transition related themes.

NOVA ENERGIES will be a full-fledged independent player on the Russian market for the long-term period. The JV will include Technip Energies and NIPIGAS personnel, who will bring their respective areas of expertise and support, with the aim of becoming the “best in class” engineering and technology company for the energy transition in Russia.

Arnaud Pieton, CEO of Technip Energies stated: Technip Energies leverages vast experience and expertise developed over six decades of working on the transformation of traditional energies. Smart Engineering is needed to break boundaries and accelerate the journey to a low-carbon society. By combining our efforts and know-how with Nipigas, we will enable our clients in Russia to reach their energy transition targets. Through this joint-venture, Technip Energies will reinforce its energy transition positioning, leveraging its engineering expertise and technologies in hydrogen, sustainable chemistry, CO2 management and carbon-free solutions to build a better tomorrow.”

Dmitry Evstafiev, CEO, NIPIGAS declared: The general global trend for decarbonization has become one of the key factors in the modernization of existing and creation of new industries in Russia. With the participation of NIPIGAS, the best environmentally friendly and safe design solutions are implemented, corresponding to the best world standards within the framework of the country's largest projects. We want to strengthen our technological leadership to continue to offer customers solutions through our joint venture with Technip Energies that meet the requirements of tomorrow, looking for opportunities to expand and deepen this practice. Therefore, partnership with the world leader in the field of new energy, the so-called “energy transition” is of course, extremely important for us and in many ways a strategic direction.”

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.

About NIPIGAS

NIPIGAS is a leading Russian engineering company. NIPIGAS is engaged in design and engineering, procurement, logistics and construction management in all petroleum market sectors. Company has been involved in the major investment projects in Russia. NIPIGAS is a top 100 world largest engineering and construction company according to ENR (The Top 250 Global Contractors, 2020). Moreover, according to company data submitted for ENR-2020 ranking, NIPIGAS is a top 10 engineering and construction company in terms of services provided in petroleum sector.

Disclaimers

This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law. 


Contacts

Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 1 85 67 40 95
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Jason Hyonne
Public Relations Officer
Tel: +33 1 47 78 22 89
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro”) (NYSE: PUMP), a Midland, Texas based hydraulic fracturing service company, today announced a new partnership with Fluid Energy Group Ltd.® (“Fluid”) and Solnexus Chemical LLC (“Solnexus”) to become one of the largest distributors of the Enviro-Syn® Modified Acid™ and Synthetic Acid™ product line in the West Texas and Permian Basin region. Fluid’s proprietary product line will expand ProPetro and Solnexus’ chemical service offering to provide safer, more sustainable, eco-friendly and technologically advanced chemical systems to their customers in the area.


“ProPetro is committed to identifying new technologies in hydraulic fracturing that reduce overall environmental impact and allow us to produce hydrocarbons in the safest and most efficient manner possible,” said Phillip Gobe, Chief Executive Officer of ProPetro. “We identified Fluid’s Modified Acid™ technology, which helps reduce the environmental impact associated with one of the most hazardous chemicals used in hydraulic fracturing operations, hydrochloric acid. We are proud to partner with both Fluid and Solnexus to push this innovative and sustainable product into our supply chain. This partnership is consistent with our corporate objectives including environmental, social and governance (ESG) goals. The ability to deliver ESG-friendly alternatives to our customers is a value-added opportunity which benefits all stakeholders.”

Hydrochloric acid (HCl) is commonly used in hydraulic fracturing operations to decrease pumping pressures so that injection fluids can be pumped at sufficiently high rates to initiate fractures within the formation. However, HCl is extremely hazardous if not handled properly.

Due to the low-corrosive nature and easier handling properties of Fluid’s Modified Acid™ and Synthetic Acid™ systems, these products can be delivered and utilized far more efficiently than traditional HCl by:

  • Delivering concentrated material and diluting onsite, reducing truck traffic deliveries by up to 66%
  • Speeding up stage completion times, resulting in reduced idle horsepower time and decreasing diesel consumption
  • Reducing water volume requirements for stage completions, saving up to 1.5MM gallons of water per well

“Fluid’s patented or patent-pending Modified Acid™ and Synthetic Acid™ portfolio offers options that are non-corrosive to dermal tissue, eco-friendly, biodegradable and demonstrate low toxicity compared to HCl, as well as being non-regulated for ground transportation in the United States,” explained Clay Purdy, CEO of Fluid. “We are very pleased to partner with ProPetro on this important initiative.”

About ProPetro

ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information, please visit www.propetroservices.com.

About Fluid Energy Group Ltd.

Fluid Energy Group Ltd.®, along with its subsidiaries, branches and brands Fluid Norge™, Fluid USA™ Inc., Fluid Holland™, Fluid Luxembourg™, SixRing™ Inc. and SciencePak™ Inc. and Triton Cleaning Products™, is a global chemical company specializing in the development and manufacture of eco-friendly, low-hazard, technically advanced chemical systems. We service several industries including Energy & Petroleum, HI&I, Food & Beverage, Life Sciences, Marine & Transportation, Water Treatment, and Construction & Coatings. With over 130,000 sq. ft. of Canadian R&D, manufacturing and packaging, and international third-party production and packaging sites across four continents, we are well positioned to service your chemical needs. www.fluidenergygroup.com.

About Solnexus Chemical, LLC

Solnexus Chemical, LLC is a subsidiary of Agri-Empresa, LLC based in Midland, Texas. Since its founding in 2014, Solnexus has quickly grown into one of the largest independent providers of a full spectrum of custom-formulated completion, production and water treatment chemicals used in the Permian Basin. Solnexus has built and maintained this position by leveraging its unique rail, blending and storage capabilities to source and store raw materials at the lowest possible cost before blending to customer specifications for quick delivery to the field. Solnexus has the ability to design, test and validate these formulations using its state-of-the-art laboratory and large staff of in-house technicians. For more information, please visit www.solnexuschemical.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the future performance of newly improved technology such as Modified Acid™ and Synthetic Acid™. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the operational disruption and market volatility resulting from the COVID-19 pandemic and other factors described in ProPetro’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission. In addition, ProPetro may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.


Contacts

ProPetro Holding Corp
Investors - Sam Sledge, 432-688-0012
Chief Strategy and Administrative Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.

Sales – Shelby Fietz, 432-631-5567
Vice President of Business Development, Sales and Marketing
This email address is being protected from spambots. You need JavaScript enabled to view it.

Fluid Energy Group
Joe Michetti, 936-524-2876
Vice President
This email address is being protected from spambots. You need JavaScript enabled to view it.

Solnexus Chemical, LLC
Chris Howard, 432-694-1994
Senior Vice President
This email address is being protected from spambots. You need JavaScript enabled to view it.

JANESVILLE, Wis.--(BUSINESS WIRE)--SHINE Medical Technologies LLC today announced that construction of the exterior structure of its first-of-a-kind medical isotope production facility is complete and the building is weathertight, a major milestone with significance for SHINE, the medical isotope industry and patients around the world.



Reaching the weathertight milestone moves SHINE one step closer to providing a flexible, reliable supply of molybdenum-99 (Mo-99) and other neutron-produced isotopes to customers, physicians and patients. It means that the 46,000-square-foot building is now sealed against the elements and the installation of SHINE’s high-tech process equipment can begin. The production facility has been built to withstand tornados, airplane crashes and other catastrophic events, and is expected to be a major producer of medicine for decades to come.

“This milestone marks a leveling-up for our team, which includes our internal staff, but also all those who helped do the work in the field,” said Greg Piefer, founder and CEO of SHINE. “We’ve now demonstrated we can execute against a challenging first-of-a-kind nuclear build and do so within schedule and budget contingencies— all during a global pandemic. I am incredibly proud of the grit, dedication and skill of all those involved as we worked together to tackle complicated problems in challenging conditions. The results of the team’s hard work say a lot about their extraordinary dedication, talent and commitment to improving the lives of patients everywhere.”

Please click here to view a short video about SHINE’s achievement of this milestone.

The plant is expected to be the largest medical isotope production facility in the world by capacity. SHINE is installing the specialized process equipment in the facility during the next year, and expects to begin producing Mo-99 in late 2022.

“Baker Concrete Construction is proud to be one of SHINE’s partner in the construction of this important facility and we’re excited to have been given the opportunity to play a key role in getting the project to weathertight,” said Matt Jorn, project executive of Baker. “We understand what this plant means, not just to SHINE, but to patients around the globe. This commitment makes our involvement in the facility’s construction even more meaningful. Doing our part to bring the facility to weathertight is something that the entire Baker team takes great pride in.”

In addition to Baker, SHINE’s construction partners include J.H. Findorff & Son Inc., Sargent & Lundy LLC, Lycon Inc., and Westphal & Co.

About SHINE Medical Technologies

SHINE is a nuclear technology company committed to improving the lives of patients around the world. The company is focused initially on the commercialization of medical isotopes, including molybdenum-99, a diagnostic isotope used to diagnose heart disease, cancer and other diseases, and lutetium-177, a therapeutic isotope that holds the promise of significantly improving the outcomes for some cancer patients. SHINE has created isotope production processes that will deliver products to benefit physicians and patients and help solve critical supply problems in the United States and markets in Europe and around the world. SHINE has a long-term strategy to solve some of humanity’s biggest problems and advance our vision for progressively broad and impactful uses of nuclear technology. For more information, please visit our website at www.shinemed.com.


Contacts

MALLORY PROUTY
CORPORATE COMMUNICATIONS PROJECT MANAGER, MBA
P: 608-530-5606 | M: 630-945-2379
This email address is being protected from spambots. You need JavaScript enabled to view it.

ROD HISE
DIRECTOR OF STRATEGIC COMMUNICATIONS
P 608-530-5659 | M 608-770-7850
This email address is being protected from spambots. You need JavaScript enabled to view it.

LAS VEGAS--(BUSINESS WIRE)--$AP #7kW_wall_mount--Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that its power electronics business, Coolisys Technologies Corp. (“Coolisys”), has received a $10.5 million purchase order for 30,000 7kW residential EV charging systems. Coolisys received the purchase order in conjunction with entering into a three-year Purchase and Resale Agreement (“Agreement”) for the residential chargers with Origin Micro and its subsidiary, iNetSupply.com (collectively, “iNet”). Coolisys anticipates that it will, in connection with fulfilling the purchase order, sell accessories to the residential charging EV systems in the approximate amount of $1.5 million through iNet. The 7kW wall-mount charging system runs on 208/240 volts and is compatible with the SAE J1772 charging connector, with the option to add an adapter to charge Tesla vehicles.


iNet is a leader in distributing new products for many popular brands including Lenovo, Dell, HP and Cisco through its strong relationships with traditional and e-commerce channels and platforms. The 7kW wall-mount residential charger and its peripherals will be available for purchase and preorder at iNetSupply.com. We expect that the 7kW wall-mount charger and peripherals will during the next few months be listed on Newegg.com, NeweggBusiness.com, Amazon.com, eBay.com and Walmart.com. iNet is highly regarded for delivering product integrity and customer service to businesses and consumers.

iNet’s President, Donald G. Doney, Jr. stated, “The future of humanity’s daily transportation lies in the development of EV and EV infrastructure. Affordable, rapid charging of those millions of EV’s requires expertly engineered devices that are easy to use and install. We are excited to enter this agreement with Coolisys and navigate the growth of Coolisys’ groundbreaking residential line of chargers to the public.”

Coolisys’ President and CEO, Amos Kohn said, “We are pleased to announce this purchase and resale agreement with iNet along with our second purchase order from iNet. We look forward to cultivating the opportunities that iNet can provide in what we anticipate being a burgeoning relationship. iNet provides the level of experience, knowledge, integrity, and professionalism that we believe to be required to launch, manage, and grow our residential EV charging product line. We believe our EV residential charger product line will be well positioned to address the expected rapid expansion of infrastructure required to support broad adoption of electric vehicles globally.”

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.

About Ault Global Holdings, Inc.

Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

About Coolisys Technologies Corp.

Coolisys designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications in the harshest environments and lifesaving, life-sustaining applications and electric vehicle supply equipment across diverse markets including automotive, defense/aerospace, medical/healthcare, industrial and telecommunications. Coolisys’ headquarters are located at 1635 South Main Street, Milpitas, CA 95035; www.Coolisys.com.

Forward-Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.


Contacts

This email address is being protected from spambots. You need JavaScript enabled to view it. or 1-888-753-2235

 

Offshore Source Logo

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

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

Corporate Offices

Technology Systems Corporation
8502 SW Kansas Ave
Stuart, FL 34997

info@tscpublishing.com