RIALTO, Calif.--(BUSINESS WIRE)--The City of Rialto, in partnership with Rialto Water Services and Veolia North America, have announced their joint commitment to the next phase of an ambitious plan to design and install a microgrid powered through a unique combination of biogas cogeneration, solar power and backup battery storage to supply electricity for the city’s wastewater treatment plant.
The innovative project, one of the first of its kind in California, is meant to bring the city greater energy independence, resilience and efficiency to protect its essential wastewater treatment system.
“As California and the rest of the country contend with a growing number of natural disasters linked to climate change -- including widespread power outages and brownouts caused by heat waves and wildfires -- the resilience offered by a microgrid power source is more important than ever,” said Rialto Mayor Deborah Robertson.
“We recognize that the time has come to invest and think boldly and creatively in protecting our resources,” she said. “This project represents a great step forward in the way municipalities like ours can take positive steps toward a more green future.”
Brian Clarke, president and CEO of Veolia North America, said the company is proud to bring its expertise and resources to support the city’s vision for greater energy independence and sustainability. Veolia operates and maintains the treatment plant on behalf of the city and its partner, Rialto Water Services.
“I commend everyone involved for their commitment to making this vision a reality for the people of Rialto and the community’s natural resources,” he said. “It’s this kind of forward thinking that is putting Rialto in a position to meet the challenges that we all see coming down the road in the years ahead, both environmentally and economically.”
Besides the positive impact the project will have on energy efficiency and resilience, it will also contribute significantly to protecting crucial natural resources in the area. Rialto Mayor Pro Tem Ed Scott pointed out that the wastewater treatment plant is located near an environmentally sensitive waterway which supports a population of endangered Santa Ana suckerfish.
Once the new microgrid is in place, the plant will be less vulnerable to power outages that could cause the plant to shut down and lead to potential wastewater spills into nearby waterways.
“We know there is a great deal of concern about the endangered species which rely on our local resources,” Mayor Pro Tem Scott said. “We are proud to partner with government and grassroots level environmental groups to make the survival of the suckerfish and other species more secure.”
The microgrid project is expected to cost approximately $8 million once completed in 2024, with no funding coming from increased taxes in the community. Instead, the funding will be absorbed by a visionary concession arrangement under which the wastewater plant is operated. This 30-year public private partnership was established to improve operation of the City of Rialto’s water and wastewater system, and to raise significant capital from private equity partners and capital finance markets. The concession agreement’s initial funding allowed the city to invest in necessary capital improvements in the system while setting aside funding for deferred utility system lease payments and strategic reserve funds. With most of those initial efforts now completed, the microgrid project represents the first of the next-generation projects supporting the city’s commitment to innovation and sustainability. The microgrid project is expected to save the city approximately $350,000 per year in energy costs, with an average return on investment in about eight years.
The first stage of the microgrid project, a feasibility study conducted by VNA’s energy consulting company, SourceOne Inc., was recently completed. The Rialto City Council recently voted to approve the second phase, which will involve the design of the microgrid. With greater environmental sustainability in mind, the microgrid will be powered through a unique combination of biogas, solar power and backup power provided by batteries.
About Veolia North America
A subsidiary of Veolia group, Veolia North America (VNA) offers a full spectrum of water, waste and energy management services, including water and wastewater treatment, commercial and hazardous waste collection and disposal, energy consulting and resource recovery. VNA helps commercial, industrial, healthcare, higher education and municipality customers throughout North America. Headquartered in Boston, Mass., Veolia North America has more than 7,000 employees working at more than 250 locations across the continent. www.veolianorthamerica.com
About Veolia
Veolia group is the global leader in optimized resource management. With nearly 179,000 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater service, produced nearly 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com
Matt Burgard
(203) 859-4168
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AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (“REG”) (NASDAQ: REGI) today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock.
All of the shares are being offered by REG. In addition, REG expects to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
REG intends to use the net proceeds from this offering for working capital and other general corporate purposes, which may include the repayment of existing indebtedness and the funding of capital expenditures, including capital expenditures related to the expansion of the Geismar, Louisiana biorefinery. REG may also use a portion of the net proceeds from this offering to finance potential strategic transactions, although it currently has no binding commitments or agreements to complete any such transaction.
Credit Suisse, BofA Securities, and Guggenheim Securities are acting as joint book-running managers for the offering and Piper Sandler and Roth Capital Partners are acting as co-managers.
The shares will be issued pursuant to a shelf registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained by contacting: Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and North America’s largest producer of biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the size of the proposed public offering, expectations with respect to granting the underwriters an option to purchase additional shares, and intentions with respect to the use of net proceeds from the proposed offering. These forward-looking statements are based on current expectations and assumptions, are subject to change, and actual results may differ materially. Factors that could cause actual results to differ materially include those relating to completion of the public offering on anticipated terms or at all, market conditions, satisfaction of conditions to closing of the proposed offering, REG’s ability to obtain additional or alternative financing to fund its capital expenditures, the fact that REG’s management will have broad discretion in the use of the net proceeds from the offering and other risks described in REG's annual report on Form 10-K for the year ended December 31, 2020 and from time to time in REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Todd Robinson
Interim Chief Financial Officer
Renewable Energy Group
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(515) 239-8048
NEW YORK--(BUSINESS WIRE)--#NewYorkenergy--Following New York City Mayor Bill de Blasio’s proposed action to ban natural gas hookups in new buildings in the city by 2030 and restrict the abundant and environmentally-sound energy choices of families and businesses, a new report released by Consumer Energy Alliance found an energy ban could conservatively cost every household in New York City more than $25,600.
The report entitled, “Wealth Inequality: The Hidden Cost of New York City’s Natural Gas Ban,” examined the impact of an energy ban forced onto families and New Yorkers depending on the appliance models, home configuration, labor, and reliance on natural gas. Using open-source consumer data, CEA developed a cost calculator to provide an estimate of what a typical household in New York City could expect to pay as a result of such short-sighted policies to ban natural gas service and use.
These findings dovetail with previous research performed by CEA which found that the cost to replace just major gas appliances in homes nationwide would be more than $250 billion.
“Mayor de Blasio’s natural gas service ban is nothing short of ill-conceived and irresponsible. It will be acutely felt by the poor and those on fixed incomes who disproportionately struggle with higher energy bills and disruptions,” said CEA’s New York Director Wendy Hijos. “If forced onto families, our report findings show the cost to consumers would be astronomical.”
Hijos added: “This arbitrary ban will add even more hardship and uncertainty on the city’s small businesses and restaurants, which are struggling to survive and require natural gas to cook food and operate. With 92% of NY businesses being unable to pay full rent a few months ago, the reality is that New Yorkers need our help to get back on their feet, not impractical energy bans that will only harm those that can least afford it.”
“CEA’s eye-opening report injects some much needed reality into the conversation about natural gas bans and the impact it will have on everyday New Yorkers and struggling small businesses. If this trend of ambitious and impractical policy continues, make no mistake people’s financial health will be in jeopardy. Feel-good legislation is no replacement for practical policies that keep the everyday wellbeing of hard working New Yorkers in mind,” said New Yorkers for Affordable Energy Coalition Executive Director Michelle Hook.
Commenting on the impact of these policies, Hijos said, “We can and must meet our growing energy needs and provide more environmental protection, but this plan takes us in the exact wrong direction. CEA believes we can get to a cleaner future without banning the energy people need to live their lives and heat their homes during our cold winters. We continue to support balanced options like bringing more large-scale hydro, offshore wind, nuclear and other renewable energy sources to help meet the city and the state’s ambitious climate goals. We’re going to need it all – including natural gas – to reasonably get to a net-zero future. It simply can’t be done with bans or one-size-fits-all approaches that could leave our most vulnerable out in the cold and in the dark.”
To view the report, click here.
About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers, and manufacturers to support America’s environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy and the environment, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic, and environmentally responsible solutions to meet our nation’s energy needs.
Kristin Marcell
P: 703-969-1507
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MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc.'s (Nasdaq: MGEE) Jared Bushek, Vice President Finance, Chief Information Officer and Treasurer, and Tammy Johnson, Vice President Accounting and Controller, will be presenting at Siebert Williams Shank's Virtual West Coast Utilities Conference, on Wednesday, March 17th.
The presentation is available on MGE Energy's website at:
2021 Virtual West Coast Utilities Presentation
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.3 billion, and its 2020 revenues were approximately $539 million.
Investor relations contact
Ken Frassetto
Director - Shareholder Services and Treasury Management
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Pipeline and Transportation Automation Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the oil and gas pipeline and transportation automation market and it is poised to grow by $742.43 million during 2021-2025, progressing at a CAGR of 2% during the forecast period.
The report on oil and gas pipeline and transportation automation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the expansion of oil terminals and benefits of pipelines over other modes of oil and gas transportation.
The oil and gas pipeline and transportation automation market analysis includes application segment and geographical landscapes. This study identifies new exploration policies as one of the prime reasons driving the oil and gas pipeline and transportation automation market growth during the next few years.
Companies Mentioned
The report on oil and gas pipeline and transportation automation market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ouwxzn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--MV Oil Trust (the “Trust”) (NYSE: MVO) on March 16, 2021 filed its Annual Report on Form 10-K for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the “SEC”). The Annual Report on Form 10-K is available in the “SEC Filings” section of the Trust’s website at http://mvo.q4web.com/home/default.aspx as well as on the SEC’s website at www.sec.gov.
Trust unitholders may also request a printed copy of the Annual Report on Form 10-K, which includes audited financial statements, free of charge by submitting a request in writing to:
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
601 Travis Street, Floor 16, Houston, TX 77002
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
Mr. Bentley Brings More Than Three Decades of Electric Industry Engineering, Operations and Safety Experience
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) today announced the appointment of Barry J. “Joe” Bentley as Senior Vice President, Electric Engineering effective March 22, 2021. Mr. Bentley will be responsible for leading the engineering and strategy functions related to PG&E’s electric system, which includes approximately 100,000 miles of transmission and distribution lines across Northern and Central California. He will report to the yet-to-be-named Executive Vice President, Engineering & Strategy. In the interim, Mr. Bentley will report to Adam Wright, PG&E’s Executive Vice President and Chief Operating Officer.
In his new role, Mr. Bentley will lead electric process safety, electric design engineering, and instrumentation and control. This new role is accountable for program planning, financial budgeting, and project execution and delivery of all electric engineering projects.
“Joe is a well-respected leader in the electric industry and has a strong track record of delivering excellence across engineering and operations functions. He is well versed in working with represented and non-represented teams and is a proven leader when it comes to customer, coworker and contractor safety. We are excited to welcome Joe to our leadership team as we continue to strengthen our company to better serve our customers,” said Mr. Wright.
“Many of the electric innovations that are driving today’s energy economy were first conceived and piloted in California. I’m grateful to be able to join the PG&E team as we work together to deliver on achieving California’s bold clean energy goals and working to adapt and respond to the growing effects of a changing climate including wildfire risk. I am excited about the opportunity and look forward to helping this team deliver on our commitments to our customers,” said Mr. Bentley.
Since 2014, Mr. Bentley served as the Senior Vice President, U.S. Utility Operations for AES Corporation, a Fortune 500 company that generates and distributes electrical power in 15 countries and employs 10,500 people worldwide. During his 30-year career with AES and its subsidiaries, Mr. Bentley has held leadership roles of increasing responsibility and span of control including: Vice President, Asset Management, U.S. Utility Operations; Senior Vice President, Customer Operations, Indianapolis Power & Light (IPL); Vice President, Power Delivery, IPL; and Vice President, Fuel and Energy Supply, IPL.
Mr. Bentley graduated from Purdue University with a bachelor’s degree in electrical engineering and has completed executive education courses at Georgetown University and the University of Virginia.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415.973.5930
Provides students with access to leading E&P software and mentoring opportunities to engage and prepare them for future careers
KUALA LUMPUR--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it awarded a multimillion dollar software grant to Universiti Teknologi PETRONAS (UTP) to support the education and development of students pursuing careers in the oil and gas industry. The three-year donation provides access to Halliburton Landmark’s DecisionSpace® suite of exploration and production software so students can bridge the gap between academic coursework and practical application.
The grant also facilitates the Halliburton Science and Technology for Exploration & Production Solutions (STEPS) program which offers students the opportunity to conduct a research project while receiving industry-relevant training and mentorship. Two UTP graduate students will participate in the program and have access to the latest software to better understand real-world data and create a dynamic learning environment.
“Halliburton is proud to offer this opportunity to UTP students to enable the development of important technical skills and relationships that are critical to future success,” said Rao Abdullah, vice president of business development and NOC’s in Asia Pacific. “We believe learning is most effective when students collaborate with experienced practitioners and utilize cutting-edge technologies to broaden their knowledge and cultivate new skills.”
In addition, Halliburton will deliver adjunct lectures for undergraduate and master’s degree students on a variety of topics including drilling, production, field development and data science. The donation is delivered through Halliburton Landmark’s University Grants Program, which contributes renewable software licenses to qualified academic institutions worldwide.
"It is a privilege for us to receive this software grant from Halliburton. The software program will enable students to practically apply scientific and theoretical principles to real-world scenarios. This will greatly benefit students in the realm of practical experience and prepare them well for careers in the oil and gas industry. It is also perfectly in sync with UTP’s commitment to produce industry relevant and industry ready graduates,” said Professor Ts. Dr Mohamed Ibrahim Abdul Mutalib, UTP Vice Chancellor.
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
ABOUT UNIVERSITI TEKNOLOGI PETRONAS (UTP)
UTP, which was founded in 1997, is one of the leading universities in the region. It offers a wide range of industry-relevant engineering, science and technology programmes as well as management and humanities at undergraduate and postgraduate levels. UTP has produced over 19,000 graduates from more than 60 countries and has become one of the main feeders within the region in producing competent talents and workforce. For more information, visit www.utp.edu.my. Follow us on our social media at UTPOfficial.
For Investors:
Abu Zeya
Investor Relations
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281-871-2688
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William Fitzgerald
External Affairs
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281-871-5267
Suhaila Sharaini
Media Relations, Corporate Communications
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HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE:SLB) will hold a conference call on April 23, 2021 to discuss the results for the first quarter ending March 31, 2021.
The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until May 23, 2021, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America, and giving the access code 8458766.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
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Isotrol’s solutions for Renewable Energies and its extensive experience in the sector come together with the reputation and local position in the USA and Canada of Berkana Resources
BOSTON--(BUSINESS WIRE)--Isotrol, an international benchmark in engineering and control software solutions focused on improving the operational efficiency of Renewable Energy assets, and Berkana Resources, a leader in Operational Technology (OT) for the Energy market, have recently signed a partnership Agreement to address the rapidly expanding North American Renewable Energy market. As a result of this collaboration, both companies will jointly provide a better and more competitive solution, tailored to local needs in the execution of projects for their clients.
Isotrol has been present in the North American market for more than seven years and brings to this partnership its Renewable Energy knowledge, experience and technology including Bluence®, Isotrol's comprehensive management platform for Renewable Energy. Berkana Resources has been providing Operational Technology services in North America since 2004 and brings its control system operational, technical, security and compliance knowledge to the partnership, along with a strong local position.
For Isotrol “this agreement enhances our strategic commitment to be consolidated in the North American market,” declared the COO of Isotrol Manuel Losada. “Partnering with a company like Berkana Resources, with its extensive experience and position in the O&G sector, is a privilege that allows us to jointly offer a competitive and quality tender to a client that is steadily expanding towards renewable energies.”
For his part, the President of Berkana Resources Jeff Whitney, added, “Partnering with Isotrol gives us access to exceptional knowledge and solution capabilities to address the Renewal Energy market.”
This partnership consolidates the appreciable position previously achieved by each party in North America. Isotrol currently has more than 13 GW of installed power monitored with its systems on the continent and maintains offices in Boston (USA) and Calgary (Canada). Berkana Resources provides support to multiple large and mid sized Oil & Gas concerns, assisting with Oil & Gas and Renewal Energy projects, and maintains offices in Denver, Colorado; Houston, Texas and Calgary, Alberta (Canada).
About Isotrol
Isotrol develops technology for the international energy market and specializes in optimizing the efficiency and profitability of renewable energy plants. The company was established in 1984 as pioneers of monitoring and control systems and, today, their solutions are managing over 53 GW of installed power capacity in 45 countries around the world.
About Berkana Resources Corporation
Berkana Resources Corporation (BRC) was established in 2004 and provides Operational and Information Technology consulting, integration, security and compliance solutions to customers in the Oil & Gas and Electric Utilities markets. Their clients include major Oil & Gas Companies, Utility Companies and Mid-Stream MLPs.
Isotrol
Francisco Parra
Communication & Marketing
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(+34) 955 036 800 (Ext. 1107)
Berkana Resources Corp.
Jeff Whitney
President
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Phone: (303) 293-2193
HOUSTON--(BUSINESS WIRE)--Regulatory News:
Schlumberger Limited (NYSE:SLB) will hold a conference call on April 23, 2021 to discuss the results for the first quarter ending March 31, 2021.
The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until May 23, 2021, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America, and giving the access code 8458766.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (“REG”) (NASDAQ: REGI) today announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $67.00 per share. The size of the offering was upsized from 4,500,000 shares to 5,000,000 shares.
The gross proceeds to REG from this offering, before deducting underwriting discounts and commissions and offering expenses payable by REG, are expected to be $335 million. All of the shares are being offered by REG. The offering is scheduled to close on or about March 19, 2021, subject to customary closing conditions. In addition, REG has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.
REG intends to use the net proceeds from this offering for working capital and other general corporate purposes, which may include the repayment of existing indebtedness and the funding of capital expenditures, including capital expenditures related to the expansion of the Geismar, Louisiana biorefinery. REG may also use a portion of the net proceeds from this offering to finance potential strategic transactions, although it currently has no binding commitments or agreements to complete any such transaction.
Credit Suisse, BofA Securities, and Guggenheim Securities are acting as joint book-running managers for the offering, and Piper Sandler and Roth Capital Partners are acting as co-managers.
The shares will be issued pursuant to a shelf registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. A copy of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and North America’s largest producer of biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to REG’s expectations regarding the anticipated closing date of the offering, and intentions with respect to the use of net proceeds from the offering. These forward-looking statements are based on current expectations and assumptions, are subject to change, and actual results may differ materially. Factors that could cause actual results to differ materially include those relating to satisfaction of conditions to closing of the offering, REG’s ability to obtain additional or alternative financing to fund its capital expenditures, the fact that REG’s management will have broad discretion in the use of the net proceeds from the offering and other risks described in REG's annual report on Form 10-K for the year ended December 31, 2020 and from time to time in the REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Todd Robinson
Interim Chief Financial Officer
Renewable Energy Group
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(515) 239-8048
New eBook highlights role of hydrogen in reducing carbon emissions within energy-intensive industries
OVERLAND PARK, Kan.--(BUSINESS WIRE)--With expectations rising for more than $10 trillion (USD) of investments in hydrogen infrastructure by 2025, clean-burning, energy-dense hydrogen will be a critical element in decarbonizing the world’s energy systems, supply chains and heavy industries, finds Hydrogen 2021: The Path to Net Zero Becomes Clearer, a new eBook from energy transition leader Black & Veatch.
Based on the expertise and insights of Black & Veatch’s market, technology and infrastructure experts, the eBook explores the need to develop hydrogen infrastructure to help accelerate global carbon emissions reductions in the current decade. Although this effort will have its challenges, lessons from the renewable energy market provide a roadmap for rapid adoption.
“While renewable energy, including battery energy storage, are playing a vital role in achieving the world’s decarbonization targets, the need for a balanced generation portfolio continues,” said Jason Rowell, associate vice president and global technology portfolio manager with Black & Veatch’s global power business. “Hydrogen will play a pivotal role in tomorrow’s energy systems and we need serious investment in hydrogen today to achieve a shared vision for a more sustainable planet.”
Hydrogen 2021: The Path to Net Zero Becomes Clearer explores how planning, policies and investment in hydrogen as a zero-carbon fuel are gathering momentum and where progress is already underway. Key applications identified in the report include uses across power generation, transportation, residential and industrial heating, green chemicals and energy storage, which offers another alternative to battery energy storage. Plus, hydrogen's ability to be stored and transported as ammonia will also help spur wide-scale adoption, particularly given the extensive existing global infrastructure.
More than 35 gigawatts of new hydrogen-capable power generation projects have been announced through 2030, including the Long Ridge Energy Terminal, a 485-MW combined-cycle natural gas project in Ohio and the Intermountain Power Project Renewal Project, an 840-MW combined-cycle gas facility in Utah. The eBook also references the 60-percent projected fall in cost of low-carbon and/or renewable hydrogen production by 2030 as outlined by the Hydrogen Council, which Black & Veatch recently joined. Industry estimates peg hydrogen is will replace upwards of 25 percent of oil demand by 2050 also.
Other opportunities for investment today include the integration of ammonia-ready storage and transportation infrastructure with global liquified natural gas infrastructure, and the adoption of hydrogen fuel cell electric vehicles for heavy transport and commercial use. At the same time, investments in transmission and distribution systems and technologies also play a pivotal role in what has become an increasingly important integrated power infrastructure model.
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.
Media Contact Information:
MELINA VISSAT | +1 303-256-4065 P | +1 617-595-8009 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 866-496-9149
Market competition continues to intensify as acquisitions increase and large established players revise offerings and business models
BOULDER, Colo.--(BUSINESS WIRE)--#AI--A new Leaderboard report from Guidehouse Insights examines the strategy and execution of 16 microgrid controls vendors, with Schweitzer Engineering Labs (SEL), Schneider Electric, and Siemens ranked as the leading market players.
Microgrid controls platforms are considered the gateway technology for microgrids to be mainstreamed. Controls unlock value and are an important technology decision to influence project success. As such, there is intense competition in this space as vendors continue to innovate in terms of user friendliness, cost-effectiveness, and fresh approaches to partnerships and market growth. Click to tweet: According to a new Leaderboard report from @WeAreGHInsights, SEL, Schneider Electric, and Siemens are the leading providers of microgrid controls.
“SEL and Schneider offer contrasting strengths—SEL offers a low cost, market-leading technology for seamless islanding while Schneider Electric is pioneering new energy as a service (EaaS) business models for microgrids,” says Peter Asmus, research director with Guidehouse Insights. “The third market leader is Siemens, which has expanded its microgrid offerings and helped develop leading-edge microgrids across multiple geographies.”
Fierce market competition is evidenced by the number of companies that have come and gone over the past decade, the increased number of recent acquisitions, and the number of large established players that have revised their offerings with new technology and business models. Companies leading the way for advanced controls are often large technology firms revamping their original distribution automation and SCADA controls with increased digital capabilities using in-house software or acquisitions of smaller startups. Then there are the independent startups testing limits with new control algorithms informed by AI and using Internet of Things (IoT) digital infrastructure. Between the extremes of large technology firms and small startups exists a long list of companies.
The report, Guidehouse Insights Leaderboard: Microgrid Controls Vendors, evaluates the strategy and execution of 13 UESSIs. Using Guidehouse Insights’ proprietary Leaderboard methodology, vendors are profiled, rated, and ranked to provide industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global market for UES integration. These companies are rated on 12 criteria: vision; go-to-market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. 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, Guidehouse Insights Leaderboard: Microgrid Controls Vendors, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical and defense industries, today announced that James R. Lines, President and Chief Executive Officer, and Jeffrey F. Glajch, Vice President and Chief Financial Officer, will be presenting at the Sidoti Spring 2021 Virtual Conference on Wednesday, March 24, 2021.
Sidoti Spring 2021 Virtual Conference
Wednesday, March 24, 2021
11:30 a.m. Eastern Time
Live webcast link and accompanying slide presentation: www.graham-mfg.com.
ABOUT GRAHAM CORPORATION
Graham is a global business that designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. Energy markets include oil refining, cogeneration, and alternative power. For the defense industry, the Company’s equipment is used in nuclear propulsion power systems for the U.S. Navy. Graham’s global brand is built upon world-renowned engineering expertise in vacuum and heat transfer technology, responsive and flexible service and unsurpassed quality. Graham designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. Graham’s equipment can also be found in other diverse applications such as metal refining, pulp and paper processing, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning. Graham’s reach spans the globe and its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East.
Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.
Jeffrey F. Glajch
Vice President - Finance and CFO
Phone: (585) 343-2216
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Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
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HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) announced today that it expects operational disruptions and softer-than-anticipated customer orders will cause first quarter 2021 operating results to fall below prior guidance.
“Unfortunately, the extreme winter weather across Texas and Oklahoma, the ongoing effects of COVID-19 lockdowns, and the continued spending austerity from our oilfield customers are combining to take a greater-than-expected toll on our first quarter results,” stated Clay Williams, Chairman, President and CEO.
Severe weather in Texas and Oklahoma during February adversely affected the financial results of all three segments. In addition to the weather-related disruptions, the Company’s Completion & Production Solutions and Rig Technologies segments were impacted by certain project delays, COVID-19 shutdowns in Southeast Asia, and an acute global glass fiber supply shortage impacting the Company’s Fiberglass Systems operations. Within NOV’s Wellbore Technologies segment, recent improvements in North American drilling activity levels and incremental cost savings initiatives are expected to offset weather-related disruptions and allow for segment results that are in-line with prior guidance. The Company now forecasts consolidated first quarter 2021 revenues will be between $1.20 and $1.25 billion with an adjusted EBITDA loss of $15 to $25 million.
Williams continued, “While the first quarter result is disappointing, we expect the prospects for our business to improve through the remainder of the year. The combination of $60+ oil, the continued recovery in the North American rig count, improvements in international activity, and the emergence of a number of our offshore drilling customers from bankruptcy is expected to lead to meaningfully better results in the second half of the year. In the meantime, we remain focused on reducing operating costs and investing in new products and technologies to position NOV for the upturn.”
The Company will announce first quarter results in a press release issued after market close on Tuesday, April 27, 2021 and will conduct a conference call on Wednesday, April 28, 2021 at 10 a.m. (Central Time). The call will be webcast live on www.nov.com/investors.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Adjusted EBITDA is operating loss plus depreciation and amortization and other items. The Company discloses Adjusted EBITDA in its periodic earnings press releases and other public disclosures to provide investors additional information about the results of ongoing operations and uses it internally to evaluate and manage the business. Adjusted EBITDA is not intended to replace GAAP financial measures.
Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995
Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by NOV Inc. with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.
Source: NOV Inc.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE:PXD) today announced that Chief Executive Officer Scott Sheffield, will participate in a Fireside Discussion at Simmons Energy Virtual Conference on Monday, March 22, at 9:45 a.m. CDT.
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.
Pioneer Natural Resources Contacts:
Investors-
Neal Shah – 972-969-3900
Tom Fitter – 972-969-1821
Michael McNamara – 972-969-3592
Greg Wright – 972-969-1770
Media and Public Affairs-
Tadd Owens – 972-969-5760
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the Goldman Sachs Energy Credit Virtual Field Trip. The meeting will be held virtually on March 16, 2021.
The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
HOUSTON--(BUSINESS WIRE)--VOC Energy Trust (the “Trust”) (NYSE Symbol — VOC) on March 16, 2021 filed its Annual Report on Form 10-K for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the “SEC”). The Annual Report on Form 10-K is available in the “SEC Filings” section of the Trust’s website at http://voc.q4web.com/home/default.aspx as well as on the SEC’s website at www.sec.gov.
Trust unitholders may also request a printed copy of the Annual Report on Form 10-K, which includes audited financial statements, free of charge by submitting a request in writing to:
VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
601 Travis Street, Floor 16, Houston, TX 77002
VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
ST. CATHARINES, Ontario--(BUSINESS WIRE)--Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading provider of marine transportation services, announced today that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to proceed with the renewal of its normal course issuer bid (the “NCIB”).
Algoma’s Board of Directors believes that the market price of Algoma’s common shares (“Shares”), from time to time, may not reflect the inherent value of the Company and purchases of Shares pursuant to the NCIB may represent an appropriate and desirable use of funds. Any purchases made under the NCIB will be made by Algoma subject to favourable market conditions at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems.
Pursuant to the notice, during the twelve month period commencing March 19, 2021 and ending March 18, 2022, Algoma may purchase up to 1,890,047 of its Shares, representing approximately 5% of the 37,800,943 Shares that were issued and outstanding as of March 8, 2021. Under the NCIB, other than purchases made pursuant to block purchase exemptions, Algoma may purchase up to 3,163 Shares on the TSX during any trading day, which represents approximately 25% of the average daily trading volume of the Shares on the TSX for the past six calendar months, being 12,653 Shares. Any Shares purchased under the NCIB will be cancelled.
In conjunction the renewal of the NCIB, Algoma has entered into a new automatic share purchase plan (the “ASPP”) with a designated broker to allow for the purchase of its Shares under the NCIB at times when Algoma normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods.
Before the commencement of any particular internal trading black-out period, Algoma may, but is not required to, instruct its designated broker to make purchases of Shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Algoma prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, Shares will continue to be purchasable by Algoma at its discretion under its NCIB.
The ASPP will commence on the Company’s behalf during the quarterly blackout period of the Company for its first quarter 2021 results commencing March 31, 2021 and will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) Algoma terminates the ASPP in accordance with its terms; or (c) the NCIB expires. The ASPP constitutes an “automatic securities purchase plan” under applicable Canadian securities laws.
The Company’s previous NCIB commenced on March 19, 2020 and expires on March 18, 2021 (the “Previous NCIB”). Under the Previous NCIB, the Company obtained the approval of the TSX to purchase up to 1,890,457 Shares, which represented 5% of the 37,809,143 Shares issued and outstanding as at the close of business on March 4, 2020. The Company purchased on the open market and cancelled an aggregate of 1,200 Shares under the Previous NCIB at a weighted average purchase price of $7.99 per Share.
Although Algoma intends to purchase Shares under its NCIB there can be no assurances that any such purchases will be completed.
About Algoma Central Corporation
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers, cement carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally.
Forward-looking Statements
Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to Algoma’s intentions with respect to the NCIB and purchases thereunder and the effects of repurchases under the bid. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. Much of this information can be identified by looking for words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words. Purchases made under the NCIB are not guaranteed and may be suspended at the discretion of Algoma’s Board of Directors. Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. Algoma assumes no obligation to revise or update forward looking statements to reflect new circumstances, except as required by law.
Gregg A. Ruhl
President & CEO
905-687-7890
Peter D. Winkley CPA, CA
Chief Financial Officer
905-687-7897
Or visit
www.algonet.com
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