VANCOUVER, British Columbia--(BUSINESS WIRE)--$YNV--Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSXV:YNV, OTCQB:YNVYF, FRA:1XNA), an emerging printed and flexible electronics company, announces that it has elected to exercise its right to accelerate the expiry date of its common share purchase warrants issued January 9, 2019, and June 5, 2019, and each exercisable into a common share in the capital of the Company at an exercise price of $0.60 (the “Warrants”).
The Warrants bear an acceleration provision providing that, if for the preceding seven consecutive trading days, the daily volume weighted average trading price of the Company’s common shares is greater than $0.75, the Company is entitled to accelerate the expiry date of the Warrants to the date that is the 30th day after the date of this news release, which serves as the required notice to the holders of the Warrants.
The Warrants will now expire at 5:00 p.m. (Vancouver time) on April 17, 2021 (the “Accelerated Expiry Time). Warrants that have not been exercised by the Accelerated Expiry Time will automatically be void and cease to have any effect.
Over 90% of the Warrants have already been exercised generating approximately $4.9 million in gross proceeds to the Company. As of today’s date, a total of 881,295 Warrants remain outstanding. If all remaining Warrants are exercised, additional proceeds to the Company will total approximately $539,000.
The Company intends to use the proceeds of the Warrants exercised for productization, marketing, increasing production capacity, and general working capital.
For information on the Warrant exercise procedure, existing Warrant holders interested in exercising Warrants may contact the Company via email to This email address is being protected from spambots. You need JavaScript enabled to view it. and This email address is being protected from spambots. You need JavaScript enabled to view it..
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.
Investor Relations
Elyssia Patterson
+1 778-683-4324
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HOUSTON--(BUSINESS WIRE)--#energybilling--Brookfield Renewable Ireland Limited (“BRIL” or “Brookfield Renewable”) has gone live with PCI’s Enterprise Platform to manage its customer billing requirements in the Irish energy market.
As part of its partnership with Brookfield Renewable, PCI deployed its specifically tailored, cloud-based, integrated platform to replace the Irish business’ legacy system and several in-house applications. The new Customer Billing Solution implemented by PCI enables Brookfield Renewable to:
BRIL Chief Commercial Officer Ciaran O'Brien noted, “We are excited at the launch of our new cloud-based customer billing system which will be transformational for our renewable energy business, bringing increased flexibility and supporting further growth with a scalable, best-in-class solution.” Adding, “We are proud to partner with PCI on this project and appreciate the professional collaboration with our team for an on-time and on-budget delivery.”
“We have found a great partner in Brookfield Renewable, one that has a matching ethos and customer-centric mindset. The successful go-live represents a major milestone for PCI’s global, remote software deployments that feature 24x7 operations,” said PCI Vice President Shailesh Mishra.
As part of the next phase of this project, Brookfield Renewable’s Irish business plans to leverage the PCI Platform to provide its customers with a dedicated application for on-demand access to energy data and enhanced reporting. PCI’s Platform offers unmatched functionality for renewable energy players to optimize their portfolios, including co-optimization of Energy Storage Systems (ESS) in wholesale power markets. PCI works with numerous renewable energy providers, including BHE Renewables, RWE Renewables, Iberdrola, Acciona, Xcel Energy, DTE Energy, and others.
About Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar, distributed generation, and storage facilities in North America, South America, Europe, and Asia, and totals approximately 20,000 megawatts of installed capacity and an approximately 23,000-megawatt development pipeline.
Brookfield Renewable’s Irish onshore wind portfolio is a fully integrated development, operations, and renewable energy solutions business with 365 MW of operating capacity and a significant onshore wind development pipeline. Further information is available at www.brookfield.com/our-businesses/renewable-power.
About Power Costs, Inc. (PCI)
PCI is the leading provider of energy trading software, superior customer support, and value-added services for energy companies worldwide. Founded in 1992, PCI continues to refine and develop new solutions that meet the ever-evolving needs of its clients which include investor-owned, municipal, and cooperative utilities, renewable energy companies, energy marketers and traders, as well as independent power producers. PCI optimizes more than half the power generated in North America and more than 60% of Fortune 500 Utilities in the U.S. are PCI customers. The firm is privately held and based in Norman (OK) with regional offices in Houston (TX), Raleigh (NC), and Mexico City. To learn more, please visit www.powercosts.com.
Stuart Wright
Power Costs, Inc. (PCI)
303-917-3565
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LONDON--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of FAIR Oil & Energy Insurance Syndicate (the Syndicate) (Bahrain). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect the Syndicate’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The Syndicate is one of four reinsurance vehicles formed by the Federation of Afro-Asian Insurers and Reinsurers (FAIR), with a remit to write energy business. The Syndicate’s members are drawn from participants of FAIR, who subscribe to the Syndicate’s units of capacity. Whilst unique in its legal structure, the Syndicate operates like a traditional reinsurer, providing capacity and expertise to its cedants.
The Syndicate’s balance sheet strength is underpinned by its 2020 risk-adjusted capitalization, which based on the syndicate’s initial unaudited financial data showed improvement to the strongest category, as measured by Best’s Capital Adequacy Ratio (BCAR). Previously, for 2019, the balance sheet strength had declined to a very strong assessment as a result of a 13% reduction in the Syndicate’s capital base, due to a USD 3.9 million net loss from unfavorable reserve development generated by two large losses from prior years. Further impacting 2019 results was a corresponding increase in reinsurance receivables from non-rated counterparties, which elevated the Syndicate’s credit risk capital requirement.
A return to profitability and an increase the amount of funds withheld as collateral against these non-rated reinsurance assets restored the Syndicate’s risk-adjusted capitalization level to the strongest category. However, AM Best notes that this prospective risk-adjusted capitalization is based on preliminary financial statements and is susceptible to volatility due to the Syndicate’s comparatively small capital base.
The Syndicate has demonstrated healthy profit generation over the past five years (2015-2019), with a weighted average combined ratio of 98.4%. However, it reported a 171.1% combined ratio in 2019, and a net loss of USD 3.9 million, compared with a profit of USD 2.3 million in 2018. Preliminary 2020 results indicate a return to profitability with pre-tax earnings of USD 2.0 million. Operating profits are driven by the technical earnings, and are augmented by marginal but stable returns from investment activities.
Although limited in size, the Syndicate benefits from a defendable niche business profile. Members provide the Syndicate with good access to energy risks across the Afro-Asia territories, supplemented by business written through the open market across the region. Whilst the Syndicate is concentrated heavily by line of business, it benefits from diversification through the geographical spread of its business.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Algirdas Karvelis, ACA
Financial Analyst
+44 20 7397 0285
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Christopher Sharkey
Manager, Public Relations
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Michael Dunckley, CFA
Associate Director, Analytics
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Jim Peavy
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PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE: NRG) today announced the Company is providing an interim financial impact update reflecting the unprecedented effect on the ERCOT system and settlement data from the winter storm. As a result of this new information and the ongoing regulatory uncertainties where the impacts of proposed changes cannot be reasonably estimated, the Company is withdrawing previously announced 2021 financial guidance.
During February 2021, Texas experienced unprecedented cold temperatures for a prolonged duration, resulting in a power emergency situation including power outages and an estimated all-time peak demand of 77 GWs (without load shed). Ahead of the event, NRG launched residential customer communications calling for conservation across all of its brands and initiated demand response programs to curtail customer load across all customer segments (residential, commercial and industrial). The Company also maximized available generating capacity and brought in additional resources to supplement in-state staff with technical and operating experts from the rest of its U.S. fleet.
“Our priority today is both to continue helping our Texas communities recover and working with all necessary stakeholders to improve the resilience of the energy system,” said Mauricio Gutierrez, NRG President and Chief Executive Officer. “Based on the new information available to us today, we are unable to provide financial guidance due to the unprecedented and unpredictable market outcomes resulting from winter storm Uri.”
The full financial impact of Winter Storm Uri still remains uncertain as it is subject to recently proposed regulatory changes including repricing, finalizing Commercial and Industrial meter and settlement data, and potential customer and counterparty risk including ERCOTs’ shortfall payments and uplift charges. Based on the information known to date, which is not complete and subject to change, Winter Storm Uri’s financial impact is estimated to be a $750 million loss compared to the prior guidance range provided on March 1, 2021. The impact is driven by the following elements received from ERCOT since NRG’s last earnings call:
Liquidity and Capital Resources
Table 1: Corporate Liquidity
(In millions) |
|
3/15/21 |
|
2/26/21 |
||||
Cash and Cash Equivalents |
|
$ |
764 |
|
|
$ |
1,923 |
|
Restricted Cash |
|
16 |
|
|
12 |
|
||
Total |
|
$ |
780 |
|
|
$ |
1,935 |
|
Total credit facility availability |
|
2,479 |
|
|
1,865 |
|
||
Total Liquidity, excluding collateral received |
|
$ |
3,259 |
|
|
$ |
3,800 |
|
As of March 15, 2021, NRG had $3.3 billion of liquidity available to continue to support its operations.
2021 Guidance
Given the evolving nature of the impacts regarding the extreme weather event in Texas in February 2021, including the uncertainty related to the financial effects on other operators and a certain number of counterparties as well as the pending and proposed legislative and regulatory responses, it is impossible to predict with precision the cumulative impact of these events on future financial results. As such, NRG is withdrawing its Adjusted EBITDA, Adjusted Cash from Operations and Free Cash Flow before Growth Investments guidance for 2021 previously issued on March 1, 2021.
Capital Allocation Update
The Company remains committed to achieving investment grade credit metrics of 2.50-2.75x net debt to adjusted EBITDA and will continue to work closely with the rating agencies to achieve investment grade credit ratings. In light of this financial update, the Company’s debt reduction program may extend into 2022.
Special Conference Call
On March 17, 2021, NRG will host a conference call at 8:00 a.m. Eastern to discuss this update. Investors, the news media and others may access the live webcast of the conference call and accompanying presentation materials by logging on to NRG’s website at http://www.nrg.com and clicking on “Investors” then "Presentations & Webcasts." The webcast will be archived on the site for those unable to listen in real time.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
Forward-Looking Statements
In addition to historical information, the information presented in this presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as “may,” “should,” “could,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “expect,” “intend,” “seek,” “plan,” “think,” “anticipate,” “estimate,” “predict,” “target,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements include, but are not limited to, statements about the Company’s future revenues, income, indebtedness, capital structure, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions.
Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, the potential impact of COVID-19 or any other pandemic on the Company’s operations, financial position, risk exposure and liquidity, general economic conditions, hazards customary in the power industry, weather conditions and extreme weather events, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers or counterparties to perform under contracts, changes in the wholesale power markets, changes in government or market regulations, the condition of capital markets generally, our ability to access capital markets, cyberterrorism and inadequate cybersecurity, unanticipated outages at our generation facilities, adverse results in current and future litigation, failure to identify, execute or successfully implement acquisitions, repowerings or asset sales, our ability to implement value enhancing improvements to plant operations and companywide processes, our ability to achieve our net debt targets our ability to maintain investment grade credit metrics, our ability to proceed with projects under development or the inability to complete , the construction of such projects on schedule or within budget, the inability to maintain or create successful partnering relationships, our ability to operate our business efficiently, our ability to retain retail customers, our ability to realize value through our commercial operations strategy, the ability to successfully integrate businesses of acquired companies, including Direct Energy, our ability to realize anticipated benefits of transactions (including expected cost savings and other synergies) or the risk that anticipated benefits may take longer to realize than expected, and our ability to execute our Capital Allocation Plan. Achieving investment grade credit metrics is not a indication of or guarantee that the Company will receive investment grade credit ratings. Debt and share repurchases may be made from time to time subject to market conditions and other factors, including as permitted by United States securities laws. Furthermore, any common stock dividend is subject to available capital and market conditions.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The foregoing review of factors that could impact NRG’s actual results should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
Media: Candice Adams, 609.524.5428
Investors: Kevin L. Cole, CFA, 609.524.4526
TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) today announced that it has submitted to the Securities and Exchange Commission a Notification of Late Filing with respect to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The Notification states that the 10-K could not be filed by its original due date, March 16, 2021, without unreasonable effort or expense due to pending waivers or amendments of the financial covenant provisions of certain lending agreements.
OSG expects that these waivers and/or amendments will be completed shortly and that it will be in a position to file the 10-K on or before March 31, 2021. OSG is current and expects to remain current in its payment obligations under all of its borrowings.
About Overseas Shipholding Group, Inc.
Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 22 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATB, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates two Marshall Islands flagged MR tankers which trade internationally.
OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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DUBLIN--(BUSINESS WIRE)--The "Butane (CAS 106-97-8) Global Market Research Report 2021" report has been added to ResearchAndMarkets.com's offering.
This global report is a result of industry experts' diligent work on researching the world market of Butane. The report helps to build up a clear view of the market trends and development, identify major players in the industry, and estimate main downstream sectors.
Scope
The Butane global market report key points:
Key Topics Covered:
1. BUTANE GENERAL INFORMATION
1.1. General information, synonyms
1.2. Composition, chemical structure
1.3. Safety information
1.4. Hazards identification
1.5. Handling and storage
1.6. Toxicological & ecological information
1.7. Transport information
2. BUTANE APPLICATIONS
3. BUTANE MANUFACTURING METHODS
4. BUTANE PATENTS
5. BUTANE MARKET WORLDWIDE
5.1. Global Butane market analysis: market constraints, drivers and opportunities
5.2. Manufacturers of Butane
5.3. Suppliers of Butane
5.4. Market forecast
6. BUTANE MARKET PRICES
7. BUTANE END-USE SECTOR
For more information about this report visit https://www.researchandmarkets.com/r/n6do48
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LEMONT, Ill.--(BUSINESS WIRE)--A new era of energy provided by renewables may be close, thanks to research begun at the Joint Center for Energy Storage Research (JCESR), a U.S. Department of Energy (DOE) Energy Innovation Hub led by DOE’s Argonne National Laboratory, and continued at its spinoff company, Form Energy.
The challenge JCESR addressed is long-duration energy storage – stabilizing a renewable grid against several consecutive days of calm or overcast days when wind and solar generation is absent or severely limited. Today’s lithium-ion batteries can discharge at full power for 4-6 hours, enough to stabilize against most intra-day variations due to passing clouds or fluctuating winds, or to extend solar electricity a few hours past sunset to serve the evening demand peak, according to Yet-Ming Chiang, a JCESR member, co-founder of Form Energy, and professor of materials science at the Massachusetts Institute of Technology.
Pivotal JCESR research first laid out the case for an air-breathing aqueous sulfur chemistry in long-discharge applications, comparing this kind of battery against established technologies, such as Li-ion and pumped hydroelectric storage and other emerging technologies, such as underground compressed air storage. Later studies showed that renewable generation combined with storage, with very-low-cost new chemistries, could deliver electricity in many U.S. locations more cheaply than coal or nuclear power plants and cost-competitively with natural gas. Meanwhile, the Advanced Research Projects Agency–Energy (ARPA-E) at DOE also was looking to explore long-duration discharge storage in its program called Duration Addition to electricity Storage (DAYS).
In 2017, Chiang co-founded a startup company based on JCESR intellectual property with Boston-area colleagues Ted Wiley, Billy Woodford, and Marco Ferrara. The company was renamed Form Energy when it merged with a West Coast startup founded by Mateo Jaramillo, a former executive at Tesla and now Form Energy’s CEO.
“We are thrilled that Form Energy commercialized JCESR’s innovations for long-duration discharge batteries so quickly. This is a model for how the lab to market transition should work,” said George Crabtree, JCESR director.
In May 2020, Form Energy signed its first contract with Minnesota-based Great River Energy, one of the largest generation and transmission cooperatives nationwide. This pilot project will deliver a battery system, planned for 2023, designed to discharge over 150 hours at 1 megawatt power (equaling 150 MWh of capacity).
To date, Form Energy has secured about $120 million of private investment and U.S. government support through the ARPA-E DAYS project.
Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
Office: 630.252.5580
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The complete line of personal protective equipment including CSA and CE Certified products is now available to professional workers across Canada
VANCOUVER, British Columbia--(BUSINESS WIRE)--#JacksonSafety--SureWerx, a leading manufacturer of PPE safety products, tools, and equipment today announced the launch of Jackson Safety® in Canada. Acquired by SureWerx in December 2018, Jackson Safety has a century-long reputation for delivering the most innovative safety solutions in the welding and personal protective equipment industries. With the introduction of a new range of face shields, safety glasses, and welding helmets, SureWerx is reinventing the standards of comfort, safety, and productivity in the Canadian market.
“At SureWerx, we are passionate about providing industry-leading safety solutions to professional workers globally. Since acquiring Jackson Safety in 2018, we’ve been able to extend this commitment to industries such as welding and metal fabrication,” commented Chris Baby, Chief Executive Officer at SureWerx. “By extending the Jackson Safety product range into Canada, we are continuously working towards growing our product offerings in order to meet the safety needs for every job, industry, and professional worker across North America and internationally.”
Richard Ayuen, Vice President and General Manager of SureWerx Canada added, “We are thrilled to launch Jackson Safety products in Canada and deliver on our brand promise to provide innovative solutions for worker safety and productivity. We have been a trusted partner on the worksite for professional workers for decades and this launch will enable us to continue to build a culture of safety performance across a wide range of industries.”
Jackson Safety will also be launching new products, including Maxview™, Quad 500®, F4XP, GPL500, Translight™, and Rebel™ series, to help protect professional workers from harmful elements and other work hazards. For complete product details please visit https://surewerx.com/ca/s/brand?brand=Jackson
About SureWerx
Co-headquartered in Chicago, Illinois and Vancouver, British Columbia, SureWerx is a leading manufacturer of innovative safety, tools and equipment products, and solutions. SureWerx markets these products under the Jackson Safety®, Pioneer®, ADA Solutions, PeakWorks®, Sellstrom®, Due North®, K1 Series®, Ranpro®, JET®, Strongarm®, American Forge & Foundry®, ITC® and STARTECH® brands. SureWerx offers unparalleled access to its brands through its partner-distributor network servicing most industries worldwide. For more information, please visit surewerx.com.
About Jackson Safety®
For nearly a century, professional workers in all walks of life have demanded Jackson Safety for their welding and personal protective equipment needs. The reason is simple—when it comes to providing innovative safety solutions, unparalleled features, long-lasting value, and comfort, Jackson Safety has set the standard. In 2018, Jackson Safety was purchased by SureWerx™. For more information, please visit https://surewerx.com/ca/s/brand?brand=Jackson
Megan Kent
Magnolia Marketing Communications
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) Chief Executive Officer Alan Armstrong is scheduled to participate in virtual meetings with investors, including a fireside chat Q&A session, at the 49th Annual Scotia Howard Weil Energy Conference on Tuesday, March 23.
While sessions for this conference will not be available via webcast, presentation slides will be accessible beginning on March 23 at https://investor.williams.com.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
MEDIA:
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INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
Nearly 25,000 square-foot facility in Metro Detroit provides access to leading automotive & commercial vehicle engineering talent
Company expects to increase its engineering headcount by 50% in 2021 as it continues rapid expansion
Michigan technology center is XL Fleet’s fourth location, expanding strategic nationwide coverage for customers, partners and employees
BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in fleet electrification solutions, has opened its newest location in Wixom, MI, as the Company continues its rapid expansion to meet customer demand for a range of electrification solutions. The 24,655 square-foot facility is located in the heart of the United States’ top-ranked region for automotive engineering talent and will serve as a fleet electrification technology center to support the design, development, testing and production of a wide range of commercial vehicle electrification solutions.
The state-of-the-art facility will supplement XL Fleet’s extensive product research and development programs, with technology capabilities for prototyping, controls development, and electrical and systems engineering. The facility will include a component test lab including vibration capability, a vehicle chassis dynamometer, an electronics lab and battery testing equipment.
The Company expects to significantly expand its electrified powertrain systems portfolio over the next several years, with solutions including hybrid, plug-in hybrid, battery electric and fuel cell electric systems, as well as electrification systems for a range of new medium- and heavy-duty commercial applications.
XL Fleet anticipates growing its engineering team by approximately 50% in 2021, many of which will be based in the new Wixom facility. The Company expects to add at least 50 new Michigan-based team members within the next three years, as the location will provide access to a wealth of automotive and commercial vehicle engineering talent within the region.
“XL Fleet’s expansion into Michigan marks a great milestone for the Company, and an important element of our strategy to continue adding breadth and depth to our best-in-class engineering organization to develop the next generation of electrification solutions needed to scale the business,” said Dimitri Kazarinoff, CEO of XL Fleet. “We are very excited to expand the Company’s footprint into this highly strategic location, where we will be well positioned to add capacity to the exceptional talent we already have in house,” he said.
About XL Fleet Corp.
XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 145 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine's best inventions of 2019. For additional information, please visit www.xlfleet.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the definitive proxy statement/prospectus filed on December 8, 2020 and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.
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LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) today announced it has entered into an agreement with Magnora ASA (Magnora) to jointly pursue floating offshore wind project development opportunities under the name Magnora Offshore Wind.
Magnora holds a strategic position within the renewable energy sector as an owner in offshore wind, onshore wind, and solar development projects and is a key enabler in solar energy technologies.
When combined with TechnipFMC’s unique technologies, experience delivering integrated EPCI (iEPCI™) projects and its novel Deep Purple™ initiative to integrate wind and wave energy with offshore green hydrogen storage, this partnership will enable Magnora Offshore Wind to realize significant opportunities in the growing offshore floating wind market.
Magnora Offshore Wind has already commenced operations and started work on an application for the first round of seabed leasing through the Scottish government’s ScotWind Leasing program. In addition, Magnora Offshore Wind will participate in the first offshore wind application round in Norway, which opens in 2021, and will also consider entering new markets in the coming months.
Jonathan Landes, President Subsea at TechnipFMC, commented: “Magnora and TechnipFMC bring together decades of combined knowledge regarding the development of profitable offshore energy projects. This partnership reflects TechnipFMC’s ambition to capture a significant position in the renewable offshore energy market. We are delighted to support Magnora Offshore Wind by providing our expertise and know-how in bringing innovative offshore energy solutions to the market.”
Torstein Sanness, Executive Chairman of Magnora, says: “In Magnora you find some of the world’s leading experts within wind development. Coupled with TechnipFMC’s project management competence and extensive service and technology portfolio, we believe we can provide a market-leading floating offshore wind offering. TechnipFMC’s ‘Deep Purple™’ initiative, which utilizes offshore wind to produce hydrogen for offshore assets, is another exciting avenue we will be jointly looking to explore.”
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. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
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DUBLIN--(BUSINESS WIRE)--The "Nitrogen dioxide (CAS 10102-44-0) Global Market Research Report 2021" report has been added to ResearchAndMarkets.com's offering.
This global report is a result of industry experts' diligent work on researching the world market of Nitrogen dioxide. The report helps to build up a clear view of the market trends and development, identify major players in the industry, and estimate main downstream sectors.
Report Scope
The Nitrogen dioxide global market report key points:
Key Topics Covered:
1. NITROGEN DIOXIDE GENERAL INFORMATION
1.1. General information, synonyms
1.2. Composition, chemical structure
1.3. Safety information
1.4. Hazards identification
1.5. Handling and storage
1.6. Toxicological & ecological information
1.7. Transport information
2. NITROGEN DIOXIDE APPLICATIONS
3. NITROGEN DIOXIDE MANUFACTURING METHODS
4. NITROGEN DIOXIDE PATENTS
5. NITROGEN DIOXIDE MARKET WORLDWIDE
5.1. Global Nitrogen dioxide market analysis: market constraints, drivers and opportunities
5.2. Manufacturers of Nitrogen dioxide
5.3. Suppliers of Nitrogen dioxide
5.4. Market forecast
6. NITROGEN DIOXIDE MARKET PRICES
7. NITROGEN DIOXIDE END-USE SECTOR
For more information about this report visit https://www.researchandmarkets.com/r/3l9i2n
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HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) announced today that its subsidiary, Murphy Exploration & Production Company – USA, has closed the previously announced transaction with a fund managed by ArcLight Capital Partners, LLC for the sale of Murphy’s entire 50 percent interest in the King’s Quay floating production system (King’s Quay FPS) and associated export lateral pipelines (Associated Laterals) to be located in the Gulf of Mexico. The King’s Quay FPS and Associated Laterals will be co-owned in a joint venture with entities managed by Ridgewood Energy Corporation, including ILX Holdings III, LLC.
This transaction reimburses Murphy’s past capital expenditures of approximately $270 million related to the King’s Quay FPS and the Associated Laterals.
Murphy intends to use the proceeds to repay borrowings under the $1.6 billion senior unsecured credit facility, with the remainder to be held for general corporate purposes. With the previously announced pending redemption of its 2022 Notes, Murphy will have no near-term debt maturities prior to the November 2023 expiration of its revolving credit facility.
The King’s Quay FPS is more than 90 percent built and is scheduled to go into service in mid-2022. King’s Quay FPS is designed to process 80 thousand barrels of oil per day and 100 million cubic feet of natural gas per day, and will handle the anticipated production from the Khaleesi / Mormont and Samurai fields.
“We are pleased to announce the completion of this transaction. Coupled with the receipt of necessary regulatory permits for our entire drilling campaign to begin on April 1, 2021, we remain on target for first oil in mid-2022 in the Khaleesi / Mormont and Samurai fields,” said Roger W. Jenkins, President and Chief Executive Officer. “By utilizing the King’s Quay FPS transaction proceeds to repay our revolver borrowings, along with our recent bond issuance to extend our debt maturity profile, Murphy has a well-positioned balance sheet with ample liquidity as we enter the execution phase of this key project.”
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. The company sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
ABOUT ARCLIGHT CAPITAL PARTNERS, LLC
ArcLight Capital Partners, LLC (“ArcLight”) is one of the leading energy infrastructure firms. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $23 billion in 111 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists, as well as the firm's 1,500-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclight.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, include planned capital expenditures, the use of sale proceeds, planned drilling program, estimated project completion and in-service dates, future production and processing and other matters and are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and gas industry, reduced customer demand for our products due to environmental, regulatory, technological or other reasons; political and regulatory instability in the markets where we do business; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”), available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
Fortune and Aurora Geosciences recommending 13 holes for summer drill program
LONDON, Ontario--(BUSINESS WIRE)--#Cobalt--Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to report that Aurora Geosciences Ltd. (“Aurora”) has completed three-dimensional (“3-D”) modelling and interpretation of the data from last fall’s induced polarization (“I.P.”) and ground magnetometer surveys carried out east of the NICO Cobalt-Gold-Bismuth-Copper Deposit (“NICO Deposit”) in Canada’s Northwest Territories. The geophysical interpretations were reconciled with the geology and previous drill-hole information, identifying five high priority targets for follow-up drilling this summer. The NICO Deposit and Fortune’s nearby Sue-Dianne Copper-Silver-Gold satellite deposit are Iron-Oxide-Copper-Gold-type (“IOCG”) deposits that have world class global analogues, including Olympic Dam in South Australia, the Carajas District deposits in Brazil and Candelaria deposits in Chile. Both, the NICO Deposit and the Sue-Dianne Deposit are open for potential expansion, and like other IOCG deposits globally, are associated with coincident strong magnetic, gravity, magnetotelluric, I.P. and radiometric geophysical anomalies.
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Fortune retained Aurora last fall to extend ground magnetometer and I.P. geophysical surveys east of the current terminus of the NICO Deposit and over the Peanut Lake area where large coincident magnetotelluric, gravity and magnetic anomalies had previously been identified in earlier airborne and ground geophysical surveys. A field report was delivered at the end of October identifying several magnetic, chargeability and resistivity targets indicative of dense, magnetic and conductive geological sources. Aurora was subsequently retained to conduct 3-D modelling and an interpretation of the results to identify targets for drill testing. Fortune and Aurora are recommending a 13-hole, 3200 metre drill program to test the five best targets:
Five High Priority Targets:
1) East Extension of NICO Deposit
The east end of the NICO Deposit is currently defined by a fence of holes drilled in 1997 before the ore controls were well understood. Most of these holes were terminated short of the rock-type that hosts the known NICO Deposit. A fault has also been identified in this area that has likely displaced the east continuation of the deposit. The Aurora surveys have identified coincident magnetic, chargeability and resistivity anomalies extending several hundred metres east of the presently defined terminus of the deposit, indicating it may still be open for potential expansion. Four holes are planned to test the east strike extension of the NICO Deposit beneath volcanic cover rocks and to intersect the favorable NICO Deposit host rock.
2) Ralph Zone
A narrow zone of cobalt-gold-bismuth mineralization similar to the NICO Deposit is exposed at the surface approximately 600-700 metres east of the NICO Deposit. This zone was previously tested by four holes drilled in 1997, two of which identified significant alteration, including a 3 metre interval grading 1.1 grams per tonne (“g/t”) gold. No further drilling was completed while efforts were focused on delineating the NICO Deposit. The Ralph Zone is associated with a strong magnetic feature that extends westward to the east end of the known NICO Deposit. There is also a partly coincident chargeability high identified by Aurora that extends to the east of the known showing and has not been tested. Two holes are planned to test the east and west strike extensions of the Ralph Zone, including the peak chargeability high.
3) Peanut Lake Zone
The Peanut Lake Zone is associated with a strong magnetic anomaly more than 500 metres in diameter with coincident gravity and partly coincident chargeability high anomalies. Five holes were previously drilled to test the north rim of the magnetic feature in 1997, three of which intersected significant grades. They include 3 metres, grading 1.76 g/t gold and 0.113% cobalt, 3 metres, grading 1.82 g/t gold, 3 metres, grading 1.105 g/t gold and 0.355% cobalt, and 3 metres grading 1.16 g/t gold and 0.06% cobalt. The peak chargeability high was not tested. Three additional holes are planned to test the strike continuation of these cobalt-gold intersections, including the chargeability high.
4) Road Cut Mineralization
Road construction in 2019 unearthed altered bedrock and boulders with sulphide mineralization similar to the NICO Deposit, located approximately 800 metres southwest of the previous Peanut Lake drill holes. Representative grab samples returned highly anomalous cobalt and gold values and up to 1.6% copper. The area is otherwise covered by overburden and wetlands. Despite the presence of significant sulphide mineralization, there was little geophysical response identified in the 2020 Aurora survey, except a moderate chargeability high feature located 300 metres north of where the sulphides are encountered. Three holes are planned to test the extent of the sulphides and identify the chargeability anomaly.
5) Magnetic Anomaly A Target
Strong, partly coincident magnetic and chargeability anomalies were identified approximately 800 metres northeast of the known NICO Deposit where there is a surface copper showing associated with a unique cordierite alteration that is sometimes associated with base metal deposits. Two holes were previously drilled to test the peak of the magnetic anomaly in 1997, one of which intersected low grade copper, plus 2 metres, grading 1.8 g/t gold and 0.115% cobalt. Neither of these holes tested the chargeability peak and one hole is planned to test this feature and the strike extension of the cobalt-gold-copper mineralization.
Fortune is preparing a work plan and budget to conduct a 3,200 metre drill program this summer for approval by the company’s Board of Directors. The Company will advise the public and requisite officials when it expects to conduct this drilling in compliance with local Covid-19 protocols and the applicable permitting requirements.
Critical Minerals:
Natural Resources Canada (“NRCan”) released the Canadian Critical Minerals List on March 12, 2021 with 31 minerals identified to capitalize on the rising global demand needed in the transition to a low-carbon and digitized economy and position the country as a key leading mining nation. Fortune is pleased to report that cobalt, bismuth and copper are identified by the government of Canada as Critical Minerals. Cobalt and bismuth are also identified as Critical Minerals on similar lists prepared by the United States (“U.S.”) and European Union. Canada and the U.S. have signed a Joint Action Plan on Critical Mineral Supply designed to enable more Canadian production of the metals with supply chain risks and considered essential for use in new technologies and North American manufacturing and defense industries.
Project Summary:
The NICO project is an advanced Canadian Critical Minerals project and one of the few near-term development stage cobalt assets in the world outside of the Democratic Republic of the Congo. NICO is comprised of planned open pit and underground mine and mill, located approximately 160 km northwest of Yellowknife, Northwest Territories, and a related hydrometallurgical refinery in southern Canada to treat concentrates from the mine and produce cobalt sulphate, gold doré, bismuth ingot and oxide, and copper precipitate. The NICO Project has been assessed in a positive Feasibility Study in 2014 and the facilities in the Northwest Territories have received environmental assessment approval and secured the major mine permits. The NICO Deposit contains Proven and Probable Open Pit and Underground Mineral Reserves totaling 33 million tonnes containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth, and 27.2 million pounds of copper. The NICO Deposit stands out among other Critical Mineral and cobalt development projects globally with more than one million ounce in-situ gold as a highly liquid and countercyclical co-product.
For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune who is a "Qualified Person" under National Instrument 43-101.
About Fortune Minerals:
Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories. The Company has an option to purchase lands in Saskatchewan where it may build the hydrometallurgical plant to process NICO metal concentrates. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life of the NICO Project mill.
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This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the potential for expansion of the NICO Deposit, the Company’s plans to conduct a drill program during 2021, the Company’s plans to develop the NICO Project and the potential for the Sue-Dianne property to provide incremental mill feed to the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company’s ability to conduct and complete the planned drill program; the Company’s ability to secure a site in southern Canada for the construction of a NICO Project refinery; the Company’s ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that further exploration of the areas identified in this press release may not result in a meaningful expansion of the NICO Deposit, the Company will require additional financing to complete the planned drill program and such financing may not be available, the COVID-19 pandemic may interfere with the Company’s ability to conduct the drill program, the NICO Project may not receive the benefit of any financing under the published initiatives of the United States and European Union with respect to critical minerals or any other benefits therefrom, the Company may not be able to secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company’s production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
For further information please contact:
Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
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www.fortuneminerals.com
PLANO, Texas--(BUSINESS WIRE)--Vine Energy Inc. (“Vine”) announced today the pricing of its initial public offering of 21,500,000 shares of its Class A common stock at $14.00 per share pursuant to a registration statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “SEC”). The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “VEI” on March 18, 2021. In addition, Vine granted the underwriters a 30-day option to purchase up to an additional 3,225,000 shares of Vine’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on March 22, 2021 subject to customary closing conditions.
Vine expects to receive approximately $280,800,000 million of net proceeds from the offering after offering expenses. Vine expects to use the net proceeds from the offering to repay in full and terminate certain existing credit facilities of its subsidiaries, with any remaining net proceeds to be used for general corporate purposes.
Citigroup, Credit Suisse, Morgan Stanley, Barclays, BofA Securities and RBC Capital Markets are acting as joint book-running managers for the offering. The offering of these securities is being made only by means of a prospectus. When available, a copy of the prospectus may be obtained from:
Important Information
A registration statement relating to these securities has been filed with, and declared effective by, the SEC. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Vine Energy Inc.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Vine Energy Inc.
Based in Plano, TX, Vine Energy Inc. is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Vine’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Vine’s control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. These include, but are not limited to, statements regarding the terms of the offering and the intended use of proceeds therefrom.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Vine does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Vine to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Vine’s initial public offering. The risk factors and other factors noted in Vine’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.
David Erdman
(469) 605-2480
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KANSAS CITY, Mo.--(BUSINESS WIRE)--$CORR--CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) (“CorEnergy” or the “Company”) today announced that members of its management team will participate in the Sidoti & Company, LLC Spring 2021 Virtual Conference to be held March 24-25, 2021.
The company will host an overview presentation on Wednesday, March 24 at 10:45 am Eastern Time. A live and archived webcast will be available at corenergy.reit in the Investors section.
Dave Schulte, Chief Executive Officer, and Robert Waldron, Chief Financial Officer, will be available for one-on-one meetings with institutional investors. To arrange a meeting, investors can contact their institutional sales representative at Sidoti & Co., or Matt Kreps, investor relations for CorEnergy, at This email address is being protected from spambots. You need JavaScript enabled to view it..
About CorEnergy Infrastructure Trust, Inc.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real estate investment trust that owns and operates or leases regulated natural gas transmission and distribution lines and crude oil gathering, storage and transmission pipelines and associated rights-of-way. For more information, please visit corenergy.reit.
Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, among others, failure to realize the anticipated benefits of the Transaction or Internalization; the risk that CPUC approval is not obtained, is delayed or is subject to unanticipated conditions that could adversely affect CorEnergy or the expected benefits of the Transaction, risks related to the uncertainty of the projected financial information with respect to Crimson, the failure to receive the required approvals by existing CorEnergy stockholders; the risk that a condition to the closing of the Internalization may not be satisfied, CorEnergy’s ability to consummate the Internalization, and those factors discussed in CorEnergy’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any distribution paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy’s Board of Directors and compliance with leverage covenants.
Source: CorEnergy Infrastructure Trust, Inc.
CorEnergy Infrastructure Trust, Inc.
Investor Relations
Debbie Hagen or Matt Kreps
877-699-CORR (2677)
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CUPERTINO, Calif.--(BUSINESS WIRE)--Apple®’s newly completed renewable projects, part of the company's planned $4.7 billion Green Bond spend, are bringing clean energy to local communities while reducing carbon emissions. In 2020, Apple funded 17 Green Bond projects that will avoid an average of 921,000 metric tons of carbon emissions annually, which is equivalent to removing nearly 200,000 cars from the road. The projects will generate 1.2 gigawatts of renewable energy globally, with Apple adding over 350 megawatts of newly installed renewable energy over the last year in Nevada, Illinois, Virginia, and Denmark. Apple’s Green Bond issuances are among the largest in the private sector.
“Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work,” said Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives. “We all have a responsibility to do everything we can to fight against the impacts of climate change, and our $4.7 billion investment of the proceeds from our Green Bond sales is an important driver in our efforts. Ultimately, clean power is good business."
Since the historic climate change agreement at the 2015 United Nations Climate Change Conference (COP21) in Paris, Apple has invested the proceeds from three issuances of Green Bonds to support global efforts in carbon emissions reductions. In February 2016, the company issued its first $1.5 billion Green Bond, following up with its second round of $1 billion in June 2017 after the former US Administration’s announcement of its intention to withdraw from the agreement reached at COP21. In November 2019, Apple issued its third set of Green Bonds and its first in Europe, with two bonds each at 1 billion euros (totaling approximately $2.2 billion USD).
In addition to those detailed in Apple’s Green Bond Impact Report, the company has continued funding new projects that support low carbon design and engineering, energy efficiency, renewable energy, carbon mitigation, and carbon sequestration. Apple has allocated more than half of its total Green Bond spend — $2.8 billion — and will continue to invest in projects that address carbon emissions. Last July, the company unveiled its plan to become carbon neutral across its entire business, manufacturing supply chain, and product life cycle by 2030. Apple is already carbon neutral today for its global corporate operations, and this new commitment means that by 2030, every Apple device sold will have net zero climate impact.
Apple’s Latest Investments in Renewable Energy
Onsite solar project outside of Reno, Nevada: A 180-acre site located within the Reno Technology Park is now providing power to Apple's Nevada data center. The project, recognized as “Utility-Scale Project of the Year” by Solar Builder magazine, has created 236 clean energy construction jobs of which more than 90 percent were filled by Nevada residents, and represents a more than $60 million investment in Washoe County. This site is delivering 50 megawatts of renewable power to Apple, joining the company’s three other Nevada projects that deliver 270 megawatts.
Wind farm outside of Chicago: A 112-megawatt virtual power purchase agreement with this wind farm in Illinois covers Apple’s electricity use in the Chicago region. This project aggregated buyers, enabling other companies with less purchasing power to access the same high-quality renewable energy as Apple.
Solar project in Fredericksburg, Virginia: Through an innovative agreement, Apple worked with Etsy, Akamai, and SwissRE to support the development of 165 megawatts of renewable power through a solar photovoltaic project outside Fredericksburg, Virginia, which is now delivering energy to the broader electric grid in the region.
Largest onshore wind turbines in Denmark: Apple has completed construction of two of the world’s largest onshore wind turbines, a source of clean, renewable energy that is now operational. Located near the Danish town of Esbjerg, the 200-meter-tall turbines are expected to produce 62 gigawatt hours each year — enough to power almost 20,000 homes — and will act as a test site for powerful offshore wind turbines. The power produced at Esbjerg will support Apple’s data center in Viborg, with all surplus energy going into the Danish grid.
Apple’s annual impact report covers the allocation of its 2019 Green Bond proceeds to environmental projects that incurred spend between September 29, 2019, and September 26, 2020 — Apple’s 2020 fiscal year. The Green Bond Impact Report, Fiscal Year 2020 Update can be found at investor.apple.com.
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.
NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042.
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Technical due diligence insights for BayWa’s acquisition of 50 MW Scottish wind farm provides the execution certainty to conclude purchase
GUILDFORD, England--(BUSINESS WIRE)--BayWa’s acquisition of High Constellation Wind Farm, from Blue Energy, signals another technical due diligence success for Black & Veatch’s wind energy team in Europe.
Global renewable energy developer BayWa r.e. has added the consented, ten turbines, up to 50MW wind farm project to its growing portfolio of UK assets; which already includes installed capacity of 685 MW, and management of more than 2,400 MW of wind and solar capacity.
Drawing upon its expertise in every stage in the project lifecycle, Black & Veatch rigorously reviewed High Constellation’s design, buildability, permitting, environmental impact assessment, Capex and Opex assumptions, energy yield and grid connection. Confidence in the quality and accuracy of Black & Veatch’s analysis helped give the developer the execution certainty to proceed with the acquisition.
“Renewable energy developers and investors need confidence in the quality of the advice they receive. The fullest analysis will come from partners with expertise in both wind energy economics and technology,” said Gregory Dudziak, Black & Veatch’s Head of Wind Energy in Europe. “As a result, we are supporting an ever-growing number of companies seeking to expand Europe’s wind energy infrastructure.”
Globally, BayWa r.e. has brought over 3.5 GW of energy online, while managing over 9 GW of assets.
“We are delighted to add this project to our portfolio in the UK and to continue our successful role in project development in Scotland,” said Christine McGregor, Head of Commercial at BayWa r.e. UK Limited. “As Black & Veatch is a recognised renewable energy engineering consultancy and contractor that operates globally, we have confidence in the quality of the company’s technical due diligence on High Constellation.”
In a further sign of industry confidence in Black & Veatch, leading source of power and renewables data and analysis Inframation and SparkSpread named the company number one technical advisor, by deal count, in its 2020 project finance league tables. Black & Veatch’s support for off and onshore wind projects extends over 40 years and covers every point in the infrastructure lifecycle from development support through to delivering major engineer, procure and construct contracts.
“In addition to onshore infrastructure, offshore wind is an important focus for our Europe renewables team. Our team helps optimize new and existing asset performance based on many years’ experience delivering the marine engineering needed for both fixed and floating wind,” added Dave Hallowell, Black & Veatch’s Senior Vice President, Global Renewable Energy. “Indeed we look to the Europe team to support our offshore wind growth in the US and globally.”
Click here to download an accompanying image. Image caption: When constructed, High Constellation will join wind farms already operating on the Kintyre peninsula, Scotland
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
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DUBLIN--(BUSINESS WIRE)--The "Global Oil & Gas Pump Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global oil & gas pumps market is evaluated at US$5.839 billion for the year 2020 growing at a CAGR of 6.84% reaching the market size of US$8.684 billion by the year 2026.
An Oil & gas pump is an essential part of a refinery. These types of pumps are required for the transfer of oil and other liquids from one location to another. The pump helps the liquid to accelerate while transferring between different locations. The market for oil & gas pumps have witnessed a significant rise with the rapid urbanization of the sector which has led to an increase in the applications for which the pumps can be used on the field. For instance, a type of pump can be used to transfer crude oil to a pipeline from a storage site.
Thus different types of pumps are used for various applications in a refinery which can vary from exploration, delivery and recirculation as well as further transport for loading/unloading of tanks, tanker trucks and ships in order to make the usual operations more efficient and smooth. The market is also fuelled by the development of refineries and other exploration activities across several countries. The demand of oil has witnessed a significant increase over the years which has led to the development of refineries in many areas.
The market for oil & gas pumps is driven by the increase in the utilization of unconventional sources of energy like shale gas and liquids, tight gas & oil and coal bed methane. The rise in the demand of these unconventional sources has consequently increased the demand of pumps with specific design and specifications. Furthermore, with a significant increase in environmental concerns globally, the demand for natural gas has also witnessed a substantial rise over the years which has further led to the development of plants and refineries for the production natural gas to cope with the demand. According to a report by the International Energy Agency (IEA), the global production of the natural gas reached the highest production done ever in the year 2019 with 4 088 Bcm produced which is +3.33% as compared to that in the year 2018. According to the report, the production of the natural gas has witnessed a steady increase since the financial crisis at compounded annual growth rate of 2.7%.
The advent of COVID-19 had an adverse impact on the global Oil & gas pumps market since the pandemic brought the activities in refinery industry to a standstill globally which restricted the project construction, exploration and production activities. After the initial lockdown period, some of the activities were allowed but with restrictions and certain protocols that were required to be followed like the refinery will be operated with lesser capacity which will require less labour to come in contact and social distancing was required to be maintained in the premises as well.
Moreover, the sales in the industry dipped during the initial months of the year owing to the lockdown which led to the shutting down of the sellers for a certain period initially. Countries across the globe which are one of the biggest consumers of oil, gas and petroleum related products were under lockdown in the year which led to a decline in the prices of oil globally. Due to an adverse impact on the industry, several countries across the globe witnessed an oil price war. For instance, Russia and Saudi Arabia went into an oil price war when Russia denied on cutting down production in order to keep the prices moderate. With the industries recovering after the pandemic gradually, the oil & gas business is expected to operate in the full capacity starting from the third and fourth quarters of 2020.
Companies Mentioned
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Oil & Gas Pumps Market Analysis, by Type
5.1. Introduction
5.2. Submersible
5.3. Non-submersible
6. Oil & Gas Pumps Market Analysis, by Pump Type
6.1. Introduction
6.2. Centrifugal
6.3. Positive Displacement
6.4. Others
7. Oil & Gas Pumps Market Analysis, by Application
7.1. Introduction
7.2. Upstream
7.3. Midstream
7.4. Downstream
8. Oil & Gas Pumps Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.3. South America
8.4. Europe
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/g8tp8z
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Excell Battery is pleased to announce that it has received ISO 13485:2016 certification from SGS (www.sgs.com) for the design and manufacture of battery packs for medical device applications. This achievement is a significant milestone for Excell Battery and further confirms the safety and reliability of its medical battery system design and supply for medical devices and equipment.
"We're very excited to receive ISO 13485:2016 medical certification, which ensures that our full end-to-end value chain is performing at the highest standard from a safety quality perspective," said Ian Kane, CEO of Excell Battery.
ISO 13485:2016 is an internationally recognized quality standard specific to the medical device industry that ensures the quality of medical device design, development and production. To receive certification, organizations must demonstrate that their Quality Management Systems deliver medical devices and related services that consistently meet customer and regulatory requirements.
"ISO 13485:2016 certification demonstrates to us a better understanding of our medical manufacturing needs, reducing risk and ensuring known medical quality practices are in place,” said Mark Slonchka, P. ENG, PMP, Director of QA/RA at Thornhill Medical.
About SGS
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 89,000 employees, SGS operates a network of over 2,600 offices and laboratories around the world. We are constantly looking beyond customers’ and society’s expectations in order to deliver market leading services wherever they are needed. Working together to make the world a better, safer place.
About Excell Battery
For over 35 years, Excell Battery has been a leading OEM supplier for medical, industrial and handheld instrumentation, oil and gas, LEV (light electric vehicles) and other advanced applications. We provide full-lifecycle custom battery design from engineering development to volume production, standards certification, and recycling. We deliver a broad range of battery solutions that integrate our smart battery technology with cells from our top global partners.
Visit Excell Battery at https://excellbattery.com.
Michelle Martucci, Excell Battery
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