MELVILLE, N.Y.--(BUSINESS WIRE)--January 4, 2021-- Comtech Telecommunications Corp. (NASDAQ: CMTL) announced today, that during its second quarter of fiscal 2021, its Orlando, Florida-based subsidiary, Comtech Systems, Inc., which is part of Comtech’s Government Solutions segment, was awarded a $2.7 million order from a major international oil and gas company. Comtech is to provide the first over-the-horizon system for a floating liquefied natural gas facility (“FLNG”), utilizing Comtech Systems’ software-defined CS67PLUS radio/modem.
Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp., stated, “We are extremely pleased to deliver our CS67PLUS, the most advanced troposcatter radio/modem in the marketplace, as part of this advanced turnkey system. We look forward to continuing to work with our oil and gas customers on this and future opportunities.”
Comtech Systems, Inc. (www.comtechsystems.com) specializes in system design, integration, supply and commissioning of turnkey communication systems including over-the-horizon microwave, line-of-sight microwave and satellite.
Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company sells products to a diverse customer base in the global commercial and government communications markets.
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.
PCMTL
Media Contact:
Michael D. Porcelain, President and Chief Operating Officer
631-962-7000
This email address is being protected from spambots. You need JavaScript enabled to view it.
SAN FRANCISCO--(BUSINESS WIRE)--The PG&E Corporation Foundation (Foundation) today announced the four 2020 recipients of the Better Together Resilient Communities grants, a program funded by the Foundation to support local initiatives to build greater climate resilience in Northern and Central California.
The program awarded $100,000 each to Sustainable Solano, Greenbelt Alliance, the Wiyot Tribe, and The Nature Conservancy. All of the projects are designed to reduce flood risk and support healthy, resilient coastlines and wetlands.
“These grants are founded on the premise that relying on the experience, expertise, and established partnerships of local organizations and tribes is the most effective path for helping highly vulnerable communities to prepare for the reality of climate change,” said Stephanie Isaacson, Executive Director of The PG&E Corporation Foundation. “The urgency of the problem requires ideas that are both innovative and practical, so that they can be shared as widely as possible.”
The Better Together Resilient Communities grant program, established in 2017, will invest $2 million over five years in funding from The PG&E Corporation Foundation. Strategies and solutions resulting from the grants are made publicly available to assist all communities in resilience planning and work, and to encourage local and regional partnerships.
Project Proposals and Goals
The Sustainable Solano project, “Suisun City Community Resilience,” will address flood risks via green infrastructure installations, providing inputs into the development of a broader flood action plan. Goals include:
“Thanks to this funding we can focus on a community that may have otherwise been overlooked and expand our outreach to local governments, multi-level stakeholders and youth to help them understand flood risks in Suisun City, and learn how they can be actively engaged in making their communities a more thriving and resilient place,” said Elena Karoulina, Executive Director of Sustainable Solano.
The Greenbelt Alliance project, “Resilience Rising: Contra Costa County,” will focus on building capacity and increasing coordination across Contra Costa County. Goals include:
“There are seven General Plan updates happening in Contra Costa County, but sea-level rise does not stop at jurisdictional boundaries, making jurisdictional communication even more critical. We need to act now and work together to make our shorelines more resilient. We look forward to working closely with our partners to build capacity and increase resilience in Contra Costa County and beyond,” said Zoe Siegel, Director of Climate Resilience at the Greenbelt Alliance.
The Wiyot Tribe project will serve as a “Phase 1” approach to the Tribe’s Climate Change Adaptation Plan, with an initial focus on understanding flood risks. Goals include:
“This support will allow the Wiyot Tribe to identify important, infrastructural, cultural, and natural resource assets that are vulnerable to sea level rise, flooding, and climate change. The funding will allow the Tribe to begin this important planning project through documenting Tribal traditional ecological knowledge and building partnerships with land managing bodies across its ancestral territory around Humboldt Bay to benefit the resiliency of the greater community,” said Ted Hernandez, Wiyot Tribal Chairman.
The Nature Conservancy project, “Risk Financing for Coastal Resilience,” will focus on reducing flooding in San Mateo County. Goals include:
“The 2020 Better Together Resilient Communities grant will enable The Nature Conservancy and our partners to pursue pioneering work that will improve the flood resilience of both communities and nature in San Mateo County. Financial mechanisms, like insurance, offer great promise for protecting the San Francisco Bay’s people, property, and last remaining tidal wetlands—and we now have the resources to explore how to make this a reality,” said Sarah Heard, Director of Conservation Economics and Finance at The Nature Conservancy.
About the Program
Grant proposals for the Better Together Resilient Communities program were evaluated for the extent to which they demonstrated climate risk, enhanced community capacity, partnerships, replicability, assistance to environmental and social justice communities, and measurable impact. To be eligible, applicants must be a governmental organization, educational institution or 501(c)3 nonprofit organization. All applicants must include a local or tribal government within PG&E's service area as a partner.
Information on the application process for the 2021 Better Together Resilient Communities grant program will be available in the spring of 2021. Please check the Better Together Resilient Communities website for more information on this grant opportunity.
Media inquiries: PG&E Marketing & Communications, 415-973-5930
DUBLIN--(BUSINESS WIRE)--The "Power Generation Construction Projects in Europe" report has been added to ResearchAndMarkets.com's offering.
For Europe as a whole, the project pipeline for wind power projects has the highest value, at US$251.5 billion, ahead of nuclear power projects, with US$246.8 billion. These dominate the pipeline, with wind power accounting for 39% of the pipeline by value, ahead of nuclear with a 34% share. The large shares in renewable and nuclear energy reflects the regional drive to lower greenhouse gas emissions in line with the Paris Agreement.
This report provides a detailed analysis of power generation construction projects in Europe, based on projects tracked.
Scope of the report:
Key report benefits:
Key Topics Covered:
1. Overview
2. Project Analytics by Country
2.1 The UK
2.2 Poland
2.3 France
2.4 Turkey
2.5 Russia
2.6 Romania
2.7 Finland
2.8 Bulgaria
2.9 Ireland
2.10 Estonia
3. Construction
For more information about this report visit https://www.researchandmarkets.com/r/ykzop4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 commercial vehicles, applauded the extension of the Alternative Fuels Tax Credit (AFTC) through 2021. Included with the passage of year-end funding and COVID-19 relief, the credit adds to the growing support of natural gas as an affordable and cleaner fuel source powering heavy duty vehicles today. Hyliion’s Hypertruck ERX offers an electrified truck that can achieve net-carbon negative emissions by leveraging renewable natural gas (RNG).
“Our customers have experienced the first-hand benefits of RNG as a cleaner and more effective fuel source,” said Thomas Healy, founder and CEO of Hyliion. “The extension of this credit will encourage fleet adoption, contribute to the growing clean technology sector and support our journey toward a greener future.”
The AFTC extends the $0.50 per gallon fuel credit/payment for the use of natural gas as a transportation fuel. The legislation also includes the Alternative Fuel Vehicle Refueling Property Credit, which extends the 30 percent/$30,000 investment tax credit for alternative vehicle refueling property. Its continuation is important to provide investment certainty for fleets of all sizes working to reduce their environmental footprint and address clean air and climate change sustainability goals.
The AFTC extension combined with recently released data from the California Air Resources Board (CARB) highlighting RNG vehicles reaching negative emission milestones adds to the growing momentum around RNG powered vehicle platforms. This achievement demonstrates RNG’s ability to be cleaner than even zero-emissions solutions such as wind and solar electricity generation.
Hyliion’s Hypertruck ERX powertrain will provide measurable cost savings to fleets while reducing emission levels compared to standard diesel-powered vehicles. Fleets will be able to leverage the AFTC in conjunction with Hyliion’s powertrains to drive even greater reductions in fueling costs. The extension of the AFTC highlights the government’s continued support of clean technology and natural gas as a solution toward reduced emission levels.
To learn more about Hyliion, its products or leadership team, please visit www.hyliion.com.
About Hyliion
Hyliion Holdings Corp.’s (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of commercial transportation Class 8 vehicles by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial vehicles, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Hyliion Holdings Corp.
Liz Hilton
This email address is being protected from spambots. You need JavaScript enabled to view it.
(833) 495-4466
BAAR, Switzerland--(BUSINESS WIRE)--Blackstone Resources AG (SWX: BLS) is pleased to announce:
Current Direct, a new research and innovation project funded by the European Commission’s Horizon 2020 program, will revolutionize the way we move goods and people by water. The vast majority of water transport in Europe is propelled by dirty, noisy diesel engines. By cutting the cost of today’s marine battery electric drivetrains in half and relieving ship owners of the burden of capital expense, Current Direct will enable rapid adoption to reduce greenhouse emissions by 482.000 MT of CO2 equivalents per year.
Current Direct’s innovative Energy as a Service platform will enable ship owners to accelerate their participation in the shift to clean energy while creating new business opportunities for shipyards and local entrepreneurs. By changing the model for acquiring and storing energy aboard vessels, Current Direct will create a new energy economy, adding thousands of new jobs. Current Direct provides a vehicle for energy companies, institutional investors, and government stakeholders to participate in the green transformation of Europe’s merchant and passenger fleet.
Current Direct brings together thirteen dynamic partners from across Europe’s marine electrification value chain. The project is led by Spear Power Systems, makers of the world’s lightest, most flexible marine batteries certified to the most stringent international safety standards. Blackstone Technology is lowering the cost of manufacturing tomorrow’s 3D printed lithium-ion cells using state of the art active materials from Umicore. The University of Hasselt will use its electrochemical expertise to develop physics-based models of the Current Direct cells that will help optimize the life and return on investment of battery systems deployed across Europe as part of the Current Direct Energy as a Service platform developed by the accomplished engineers and data scientists at Rhoé Urban Technologies and Aviloo. Naval architecture and marine engineering company Foreship will lend its expertise to EDP CNET’s in depth knowledge of electrical markets to ensure the Current Direct platform targets optimal vessels and locations maximizing reductions in emissions. VUB’s material science experts are creating low-cost composites to improve the safety of battery packs that are designed for recyclability and feature VITO’s smart cell monitoring electronics. Wärtsilä will develop modular battery containers and charging infrastructure that will be certified to innovative standards by Lloyd’s Register. The project will culminate in a demonstration of the Current Direct battery, shore charging, and asset management platform by Kotug in Rotterdam.
Vessel operators, ports, shipyards, naval architects, energy companies, certification bodies, regulators, and sustainability focused investors are invited to join us in a series of virtual workshops to share your ideas and learn about how Current Direct can change the way you do business. Contact This email address is being protected from spambots. You need JavaScript enabled to view it. to learn more.
Partner Websites:
Blackstone Technology: http://www.blackstoneresources.ch/
Spear: spearpowersystems.com
Umicore: umicore.com
University of Hasselt: https://www.uhasselt.be/
Rhoé Urban Technologies: https://rhoe.gr/en/index.html
Aviloo: aviloo.com
Foreship: www.foreship.com
EDP CNET: https://www.edp.com/en/new-rd
VUB: vub.be
VITO: https://vito.be/en/subtheme/interfaces-electrical-storage
https://www.energyville.be/en/research/storage
Wartsila: wartsila.com
Lloyd’s Register: lr.org
Kotug: kotug.com
Blackstone Resources AG & Blackstone Technology GmbH
Blackstone Resources is a Swiss Holding Company, with its legal domicile in Baar, Kanton Zug and is concentrating on the battery technology revolution and metals market. In addition, it sets up, develops and manages refineries used for gold and battery metals. It offers direct exposure to the battery technology and battery metals that is being driven by the demand of electric vehicles that need vast quantities of these metals. These include cobalt, manganese, molybdenum, graphite and lithium. Blackstone Technology GmbH is a 100% subsidiary of Blackstone Resources AG and produces cutting edge 3D printed battery cells in Saxony/Germany
For more information please visit www.blackstoneresources.ch
The disclaimer is an integral part of this press release. Please ensure you consult the disclaimer for a full understanding of the content within: http://www.blackstoneresources.ch/investors/disclaimer/
Partner background
About Spear Power Systems
Founded in 2014 by experienced energy storage entrepreneurs Jeff Kostos, President & CEO, and Dr. Joon Kim, CTO, Spear designs and manufactures safe, high performance energy storage systems (ESS) for clients with some of the world’s most demanding industrial and defense applications. Spear takes a chemistry independent approach towards integrating its in-house, designed, scalable electronics, software, and mechanical systems with the most application-appropriate chemistry in order to maximize the value for its clients. For more information, visit SPEARPOWERSYSTEMS.COM.
About Rhoé
Rhoé is an award-winning Greek technology startup that develops state-of-the-art products for the transportation and energy sectors. Rhoé’s in-house experts work with cities, businesses, and research institutions to help them bring cutting-edge products to market, cut down on red tape and drastically improve productivity.
About Aviloo
AVILOO is a start-up based in Austria that has developed the first independent State of Health battery test for Electric vehicles for which it has won major European research funding projects. AVILOO further provides sophisticated battery monitoring services for battery installations of all kinds. AVILOOs core technology consist of the AVILOO-Box, a high performing IoT Monitoring device, the AVILOO Battery Data Cloud Platform able to handle extremely large data sets and a deep data analytics and battery know how.
About Foreship
Foreship is an independent company specializing in ship design and engineering. Employing more than 100 naval architects, marine & structural engineers, interior & HVAC designers and electrical engineers, Foreship provides a complete range of solutions. Customers include the world's largest cruise lines as well as passenger, cargo and offshore shipowners, leading shipyards and maritime suppliers. For more information, visit: www.foreship.com
About EDP CNET
EDP CNET - Center for New Energy Technologies, founded in 2014, is a R&D Centre of the EDP Group aimed at creating possibilities to lead the energy transition. It is fully committed to research and development with a strong focus in technology demonstration projects. EDP CNET is organized in 5 knowledge areas each representing a crucial future innovation pillar for the EDP Group: Interoperable Smart Energy Grids, Positive Energy Communities, RES technologies, RES integration and Flexibility and Digital Energy. EDP CNET has carried out work in several R&D projects in all the energy value chain, most of them financed by the EU H2020, adopting an integrated and sustainable approach towards disruptive solutions that empower its partners and bring value to the shareholders.
About Vrije Universiteit Brussel
The research unit ‘Physical Chemistry and Polymer Science’ (FYSC, headed by H. Rahier) of the Vrije Universiteit Brussel is part of the Department ‘Materials and Chemistry’ (MACH) of the Faculty of Engineering. The research activities of FYSC are focused on '(molecular and supra-molecular) structure - processing - property' relations in polymers for developing materials with improved performance.
About Vito / Energy Ville
The Electrical Storage team of the unit on Sustainable Energy within VITO/EnergyVille (Belgium) has renowned expertise in the field of batteries, based on long-standing activities on battery testing, modelling and the development of advanced battery management system technology. VITO is well represented and embedded in both national and international battery projects and initiatives and is a member of the Batteries European Partnership.
https://vito.be/en/subtheme/interfaces-electrical-storage
https://www.energyville.be/en/research/storage
About Wärtsilä
Global leader in smart technologies and complete lifecycle solutions for marine and energy markets.
Blackstone Resources AG
Mrs. Doris Suta
T: +41 41 449 61 63
F: +41 41 449 61 69
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Enquires
This email address is being protected from spambots. You need JavaScript enabled to view it.
Parsley Energy, Inc. Issues Notice of Conditional Redemption for its 5.250% Senior Notes due 2025 and its 5.375% Senior Notes due 2025
DALLAS--(BUSINESS WIRE)--Ninth paragraph, third sentence of release should read: The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.938% of the outstanding aggregate principal amount... (instead of The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.398% of the outstanding aggregate principal amount...)
The updated release reads:
PIONEER NATURAL RESOURCES COMPANY ANNOUNCES CONDITIONAL CASH TENDER OFFERS FOR 5.625% SENIOR NOTES DUE 2027 AND 4.125% SENIOR NOTES DUE 2028 OF PARSLEY ENERGY, LLC AND PARSLEY FINANCE CORP. AND SOLICITATIONS OF CONSENTS TO THE RELATED INDENTURES
Parsley Energy, Inc. Issues Notice of Conditional Redemption for its 5.250% Senior Notes due 2025 and its 5.375% Senior Notes due 2025
Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer”) today announced that, in connection with the proposed Mergers described below, it has commenced cash tender offers to purchase any and all of the outstanding 5.625% Senior Notes due 2027 (the “2027 Notes”) and 4.125% Senior Notes due 2028 (the “2028 Notes” and, together with the 2027 Notes, the “Notes”) of Parsley Energy, LLC, a Delaware limited liability company (“Parsley LLC”), and Parsley Finance Corp., a Delaware corporation (“Parsley Finance” and, together with Parsley LLC, the “Issuers”) from holders of each series of the Notes (the “Offers”) and solicitations of consents from holders of each series of the Notes (the “Consent Solicitations”) to effect certain amendments to the indentures governing each series of the Notes (the “Indentures”). The terms and conditions of the Offers and Consent Solicitations are described in the Offers to Purchase for Cash and Solicitation of Consents to the Related Indentures, dated December 30, 2020 (the “Offers to Purchase”).
The following table summarizes the pricing terms of the Offers and Consent Solicitations:
|
|
|
Payment per $1,000 Principal Amount of Notes |
||
Title of Securities |
CUSIP Number |
Aggregate
|
Tender Offer
|
Early
|
Total
|
5.625% Senior Notes
|
701885AH8/
|
$700,000,000 |
$1,068.75 |
$30.00 |
$1,098.75 |
4.125% Senior Notes
|
701885AJ4/
|
$399,472,000 |
$1,037.50 |
$30.00 |
$1,067.50 |
|
|||
(1) |
Excludes accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date, which will also be paid on accepted Notes up to but not including the Settlement Date. |
||
(2) |
The applicable Total Consideration includes the applicable Early Tender Premium for related Notes tendered (and not validly withdrawn) at or prior to the Early Tender Date. | ||
Each Offer and Consent Solicitation will expire at 11:59 p.m., New York City time, on January 28, 2021, unless extended or earlier terminated (the “Expiration Date”). The consideration for each $1,000 principal amount of Notes validly tendered and not withdrawn at or prior to 5:00 p.m., New York City time, on January 13, 2021, unless extended (the “Early Tender Date”), and accepted for purchase pursuant to the Offers will be the applicable Total Consideration set forth in the table above, which includes the Early Tender Premium. The consideration for each $1,000 principal amount of each series of Notes validly tendered after the Early Tender Date and at or prior to the Expiration Date and accepted for purchase pursuant to the Offers will be the applicable Tender Offer Consideration set forth in the table above, which consists of the Total Consideration less the Early Tender Premium set forth in the table above. Holders of each series of Notes tendered after the Early Tender Date will not be eligible to receive the related Early Tender Premium. No additional consideration is payable for a consent in the Consent Solicitation but the Tender Offer Consideration for each series of Notes also constitutes consideration for the related consent.
The Offers and the Consent Solicitations are being made in connection with, and are expressly conditioned upon the closing of, the acquisition of the Issuers by Pioneer pursuant to the consummation of the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), by and among Pioneer and certain of its subsidiaries, Parsley Energy, Inc., a Delaware corporation (“Parsley”), and Parsley LLC, dated as of October 20, 2020 (the “Mergers”). The Mergers are expected to close on or about January 12, 2021, subject to satisfaction of the conditions specified in the Merger Agreement. Following completion of the Mergers, the Issuers will be direct or indirect wholly owned subsidiaries of Pioneer. The Offers and Consent Solicitations are also subject to the condition that Pioneer shall have consummated one or more investment grade public debt financing transactions on terms and conditions acceptable to Pioneer in its sole discretion, that, together with not more than $500 million of available cash and availability under Pioneer’s credit facility, is sufficient to fund (A) the redemption of the 2025 Notes described below and (B) the purchase of all Notes tendered pursuant to the Offers (the “Financing Condition”), as well as other customary conditions specified in the Offers to Purchase. Subject to all conditions to the Offers having been either satisfied or waived by Pioneer, the settlement for all Notes accepted for purchase in the Offers will occur on a date promptly following the Expiration Date, which is expected to be January 29, 2021 (the “Settlement Date”). No tenders will be valid if submitted after the Expiration Date.
Notes tendered and consents delivered may be withdrawn or revoked at any time prior to 5:00 p.m., New York City time, on January 13, 2021 (with respect to each series of Notes, the “Withdrawal Date”). Holders of Notes who tender their Notes and deliver their consents after the Withdrawal Date, but at or prior to the Expiration Date, may not withdraw their tendered Notes and related delivered consents. Holders of Notes who validly tender their Notes will be deemed to have validly delivered the related consents. Holders of Notes may not tender Notes without delivering the related consents.
The consummation of the applicable Offer and applicable Consent Solicitation is not conditioned upon any minimum amount of applicable Notes being tendered. Pioneer reserves the absolute right, subject to applicable law, to: (i) waive any or all conditions to the Offers; (ii) extend, terminate or withdraw the Offers; or (iii) otherwise amend the Offers in any respect. Pioneer intends to use a portion of the net proceeds from one or more offerings of its debt securities, together with borrowings under its revolving credit facility and cash on hand, if necessary, to fund the aggregate consideration for all Notes validly tendered (and not validly withdrawn) pursuant to the Offers and accepted for purchase, and to pay all fees and expenses incurred in connection with the Offers and Consent Solicitations.
BofA Securities, Inc., CIBC World Markets Corp., RBC Capital Markets, LLC and Scotia Capital (USA) Inc. have been retained as dealer managers. D.F. King & Co., Inc. has been retained to serve as both the tender agent and the information agent. Persons with questions regarding the Offers and the Consent Solicitations should contact BofA Securities at (980) 387-3907 (collect), CIBC Capital Markets at (212) 455-6427, RBC Capital Markets at (877) 381-2099 or Scotiabank at (833) 498-1660. Copies of the Offers to Purchase and other related materials may be obtained by contacting D.F. King & Co., Inc. at 1 (866) 406-2283 (US toll-free) or 1 (212) 269-5550 (collect) or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
None of Pioneer or its affiliates, its board of directors, Parsley, the Issuers, the dealer managers, the tender agent and the information agent or the Trustee (as defined below) for the Notes makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes.
Parsley and the Issuers also announced today that the Issuers have delivered notices of conditional redemption of all of the Issuers’ outstanding 5.250% Senior Notes due 2025 (the “5.250% Notes due 2025”) and all of the Issuers’ outstanding 5.375% Senior Notes due 2025 (the “5.375% Notes due 2025” and, together with the 5.250% Notes due 2025, the “2025 Notes”). The redemption date for the 2025 Notes provided in the applicable notice of conditional redemption is January 29, 2021 (the “Redemption Date”). The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.938% of the outstanding aggregate principal amount of the 5.250% Notes due 2025, plus accrued and unpaid interest to the Redemption Date (the “5.250% Notes Redemption Price”), and the 5.375% Notes due 2025 will be redeemed at a redemption price of 102.688% of the outstanding aggregate principal amount of the 5.375% Notes due 2025, plus accrued and unpaid interest to the Redemption Date (together with the 5.250% Notes Redemption Price, the “Redemption Price”). The redemption of the 2025 Notes is conditioned upon, before the Redemption Date, completion of the Mergers and satisfaction or waiver of the Financing Condition. The Issuers will publicly announce and notify the holders of the 2025 Notes and the Trustee (as defined below) if any of the foregoing conditions is not satisfied or waived, whereupon the redemption of the 2025 Notes will be revoked and the 2025 Notes will remain outstanding.
U.S. Bank National Association is the trustee (the “Trustee”) for the 2025 Notes and is serving as the paying agent for the redemptions. Copies of the notice of redemption and additional information relating to the redemption of the Notes may be obtained by contacting the Trustee at U.S. Bank Global Corporate Trust, Attn: Bondholder Services - EP-MN-WS2N, 111 Fillmore Avenue East, St Paul, MN 55107-1402 or 800 934-6802.
Cautionary Statement Regarding Forward-Looking Information
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release specifically include statements regarding the Consent Solicitations, the Offers, the redemptions, the anticipated public debt financing transactions, the anticipated Mergers and the ability to realize anticipated synergies and cost savings, the financial position, business strategy, production and reserve growth and other plans and objectives for our future operations. Forward-looking statements and the business prospects of each of Pioneer and Parsley are subject to a number of risks and uncertainties that may cause each of Pioneer’s and Parsley’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, global and U.S. economic activity, government regulation or action, Pioneer’s ability to implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to Pioneer’s credit facility, investment instruments and derivative contracts and purchasers of Pioneer’s oil, natural gas liquids and gas production, and acts of war or terrorism. These and other risks are described in Pioneer’s Registration Statement on Form S-4 related to the Mergers, Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, each of Pioneer and Parsley may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Each of Pioneer and Parsley undertakes no duty to publicly update these statements except as required by law.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the Mergers. The Mergers will be submitted to Pioneer’s stockholders and Parsley’s stockholders for their consideration. Pioneer and Parsley have filed a definitive joint proxy statement/prospectus (the “Joint Proxy Statement/Prospectus”) with the SEC in connection with the solicitation of proxies by Pioneer and Parsley in connection with the Mergers. Pioneer has filed a registration statement on Form S-4 (the “Form S-4”) with the SEC, in which the Joint Proxy Statement/Prospectus was included. The Form S-4 was declared effective by the SEC on December 4, 2020. Pioneer and Parsley also intend to file other relevant documents with the SEC regarding the Mergers. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE MERGERS, INVESTORS AND STOCKHOLDERS OF PIONEER AND INVESTORS AND STOCKHOLDERS OF PARSLEY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE MERGERS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS.
The Joint Proxy Statement/Prospectus, any amendments or supplements thereto and other relevant materials, and any other documents filed by Pioneer or Parsley with the SEC, may be obtained once such documents are filed with the SEC free of charge at the SEC’s website at www.sec.gov or free of charge from Pioneer at www.pxd.com or by directing a request to Pioneer’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it. or free of charge from Parsley at www.parsleyenergy.com or by directing a request to Parsley’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it..
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or to buy or sell any other securities, or a solicitation of any vote or approval. The Offers and Consent Solicitations are made only through the Offers to Purchase. The Offers and Consent Solicitations are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky and other laws of such jurisdiction. In any jurisdiction in which the Offers and Consent Solicitations are required to be made by a licensed broker or dealer, the Offers and Consent Solicitations will be deemed to be made on behalf of Pioneer by the dealer managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Participants in the Solicitation
Pioneer, Parsley and certain of their respective executive officers, directors, other members of management and employees may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies in connection with the Mergers. Information regarding Pioneer’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 9, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 24, 2020. Information regarding Parsley’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 6, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 21, 2020. These documents may be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is and will be contained in the Form S-4, the Joint Proxy Statement/Prospectus and other relevant materials relating to the Mergers to be filed with the SEC. Stockholders and other investors should read the Joint Proxy Statement/Prospectus carefully before making any voting or investment decisions.
Pioneer Natural Resources Company
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
Parsley Energy, Inc.
Investors
Kyle Rhodes – 512-505-5199
Dan Guill – 512-505-5199
LONDON--(BUSINESS WIRE)--#apac--The Oil Spill Solutions market will register an incremental spend of about USD 17.05 billion, growing at a CAGR of 3.12% during the five-year forecast period. A targeted strategic approach to Oil Spill Solutions sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Download free sample pages
Key benefits to buy this report:
Information on Latest Trends and Supply Chain Market Information Knowledge centre on COVID-19 impact assessment
SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Oil Spill Solutions market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Insights into buyer strategies and tactical negotiation levers:
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for Oil Spill Solutions market. The report also aids buyers with relevant Oil Spill Solutions pricing levels, pros and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfill their category objectives.
For more insights on buyer strategies and tactical negotiation levers Click Here
To access the definite purchasing guide on the oil spill solutions that answers all your key questions on price trends and analysis:
To get instant access to over 1000 market-ready procurement intelligence reports without any additional costs or commitment, Subscribe Now for Free.
Some of the top oil spill solutions suppliers listed in this report:
This oil spill solutions procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
This procurement report helps buyers identify and shortlist the most suitable suppliers for their oil spill solutions requirements by answering the following questions:
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more https://www.spendedge.com/request-for-demo
SpendEdge
Anirban Choudhury
Marketing Manager
Ph No: +1 (872) 206-9340
https://www.spendedge.com/contact-us
Ongoing partnerships between MGE, City and school district advance shared energy goals.
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE) today filed an application with the Public Service Commission of Wisconsin (PSCW) for approval of an agreement to partner with the City of Madison and the Madison Metropolitan School District (MMSD) on an 8-megawatt (MW) solar array in Madison.
If approved, the electricity generated by this local source of clean energy will increase renewable energy use in City operations by nearly 20%.
"We have partnered with the City of Madison and the school district on a number of projects over the years. This new solar partnership, which provides another source of locally generated clean energy, is another step toward our shared energy goals," said Jeff Keebler, MGE Chairman, President and CEO. "Another 8 megawatts of locally generated, cost-effective, carbon-free energy on our electric grid will help MGE achieve our goal of net-zero carbon electricity for all customers by 2050."
"We are working hard to have 100% of our municipal operations on renewable energy by 2030," said Madison Mayor Satya Rhodes-Conway. "Projects like these are critical to achieving that goal. We are happy for the partnership we've had with MGE and MMSD on this project and look forward to continuing that partnership in the future."
"MMSD is being very intentional about our commitment to renewable energy, with goals to meet 50% of all District operations' energy needs with renewable energy by 2030, 75% by 2035 and 100% by 2040," said MMSD Superintendent Dr. Carlton D. Jenkins. "We cannot do this alone, and we thank the City of Madison and MGE for their partnership, and for the opportunity to come together to work collaboratively in achieving a common goal, to mitigate climate change and ensure a healthier environment for our students and community."
Details of 8-MW solar project
The solar array will consist of about 28,000 solar panels and will cover approximately 53 acres of land north of Dane County's Rodefeld Landfill in southeast Madison. If approved, the project will be developed by NextEra Energy Resources Development, LLC.
The City will take 5 MW of the output and MMSD will take 3 MW of the output under Renewable Energy Rider (RER) agreements with MGE.
The cost of the project is estimated to be approximately $15.3 million. If approved, it is expected the solar array will begin generating electricity by the end of 2021.
Renewable Energy Rider
The City and MMSD have entered into separate RER agreements, subject to regulatory approval, with MGE. An RER enables MGE to partner with a large energy user to tailor a renewable energy solution to meet that customer's energy needs. RER customers are responsible for costs associated with the renewable generation facility and any distribution costs to deliver energy to the customer. The innovative model grows clean energy in our community.
Net-zero carbon goal
MGE is on the path toward deep decarbonization, pursuing globally recognized strategies to achieve an ambitious goal that is consistent with the latest climate science. MGE expects to achieve carbon reductions of 65% by 2030, exceeding its goal of a 40% reduction by 2030. If MGE can go further faster in reducing carbon emissions, it will. To reach its carbon reduction goals, MGE is growing its use of renewable energy, engaging customers around energy efficiency and facilitating the electrification of transportation, all of which are key strategies identified by the United States for achieving deep decarbonization. Visit mge2050.com to learn more.
About MGE
MGE generates and distributes electricity to 155,000 customers in Dane County, Wis., and purchases and distributes natural gas to 163,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--#apac--The new Fuel Oil Utilities market research report from SpendEdge indicates an incremental growth during the forecast period as the business impact of COVID-19 spreads.
As the markets recover SpendEdge expects the Fuel Oil Utilities market size to grow by USD 123 billion during the period 2020-2024.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the Fuel Oil Utilities market. Download free report sample
Fuel Oil Utilities Market Analysis
Analysis of the cost and volume drivers and supply market forecasts in various regions are offered in this Fuel Oil Utilities research report. This market intelligence report also analyzes the top supply markets and the critical cost drivers that can aid buyers and suppliers devise a cost-effective category management strategy.
Insights Delivered into the Fuel Oil Utilities Market
This market intelligence report on Fuel Oil Utilities answers to all the critical problems faced by investors who seek cost-saving opportunities in a competitive market. It also offers actionable anecdotes on the industry structure and supply market forecasts including highlights of the top vendors in this market. Our procurement experts have determined effective category pricing strategies that are attuned to the dynamics of this market which can be leveraged to maximize revenue generation against minimum investments on the products.
Information on Latest Trends and Supply Chain Market Information Knowledge center on COVID-19 impact assessment
The reports help buyers understand:
This Fuel Oil Utilities Market procurement research report offers coverage of:
For more information on the exact spend growth rate and yearly category spend, download a free sample.
This market intelligence report identifies the major costs incurred by suppliers and provides additional information on:
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Notes:
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Content
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more https://www.spendedge.com/request-for-demo
SpendEdge
Anirban Choudhury
Marketing Manager
Ph No: +1 (872) 206-9340
https://www.spendedge.com/contact-us
TULSA, Okla.--(BUSINESS WIRE)--Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the shareholders of both companies voted in favor of all proposals necessary for the closing of the previously announced all-stock merger of equals between Devon and WPX. The merger is anticipated to close on January 7, 2021.
At the special meeting of Devon shareholders held today, more than 70 percent of the shares of Devon common stock were represented, and more than 99 percent of the votes cast were in favor of the transaction. At the special meeting of WPX shareholders held today, more than 87 percent of the shares of WPX common stock were represented, and more than 99 percent of the votes cast were in favor of the transaction.
“We are pleased with the strong support we received from both companies’ shareholders,” said Dave Hager, Devon’s president and CEO. “This is an important milestone as we move toward uniting our complementary assets to create a leading U.S. energy company, with a focus on accelerating free cash flow growth and the return of capital to shareholders.”
“Today’s overwhelmingly positive support from both Devon and WPX stockholders reflects what an outstanding opportunity this is to maximize our businesses, drive synergies and accomplish our objectives for shareholders,” said Rick Muncrief, WPX’s chairman and CEO.
“Together, we’ll be one of the strongest oil producers in the U.S., differentiated by our unwavering focus on profitable, per-share growth and commitment to deliver top-tier ESG performance. We look forward to joining forces with Devon to deliver sustainable results and unlock the value of this combination for shareholders.”
Devon and WPX will each file the final vote results for their respective special meetings on a Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”).
Under the terms of the merger agreement, WPX shareholders will receive a fixed exchange ratio of 0.5165 shares of Devon common stock for each share of WPX common stock owned.
ABOUT DEVON ENERGY
Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. with an emphasis on achieving strong returns and capital-efficient cash-flow growth. For more information, please visit www.devonenergy.com.
ABOUT WPX ENERGY
WPX is an independent energy producer with core positions in the Permian and Williston basins. WPX’s production is approximately 80 percent oil/liquids and 20 percent natural gas. The company also has an infrastructure portfolio in the Permian Basin. Visit www.wpxenergy.com for more information.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed merger (the “Proposed Transaction”) of Devon Energy Corporation (“Devon”) and WPX Energy, Inc. (“WPX”), Devon has filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the shares of Devon’s common stock to be issued in connection with the Proposed Transaction. The registration statement includes a document that serves as a prospectus of Devon and a joint proxy statement of each of Devon and WPX (the “joint proxy statement/prospectus”), and each party will file other documents regarding the Proposed Transaction with the SEC. The registration statement on Form S-4, as amended, was declared effective by the SEC on November 24, 2020, and Devon and WPX mailed the joint proxy statement/prospectus to their respective stockholders on or about November 30, 2020. INVESTORS AND SECURITY HOLDERS OF DEVON AND WPX ARE ADVISED TO READ THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, AND ANY OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT DEVON, WPX, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain copies of the registration statement and the joint proxy statement/prospectus and other documents containing important information about Devon and WPX free of charge from the SEC’s website. The documents filed by Devon with the SEC may be obtained free of charge at Devon’s website at www.devonenergy.com or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from Devon by requesting them by mail at Devon, Attn: Investor Relations, 333 West Sheridan Ave, Oklahoma City, OK 73102. The documents filed by WPX with the SEC may be obtained free of charge at WPX’s website at www.wpxenergy.com or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from WPX by requesting them by mail at WPX, Attn: Investor Relations, P.O. Box 21810, Tulsa, OK 74102.
PARTICIPANTS IN THE SOLICITATION
Devon, WPX and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from Devon’s and WPX’s stockholders with respect to the Proposed Transaction. Information about Devon’s directors and executive officers is available in Devon’s Annual Report on Form 10-K for the 2019 fiscal year filed with the SEC on February 19, 2020, and its definitive proxy statement for the 2020 annual meeting of shareholders filed with the SEC on April 22, 2020. Information about WPX’s directors and executive officers is available in WPX’s Annual Report on Form 10-K for the 2019 fiscal year filed with the SEC on February 28, 2020 and its definitive proxy statement for the 2020 annual meeting of shareholders filed with the SEC on March 31, 2020. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the joint proxy statement/prospectus. Stockholders, potential investors and other readers should read the joint proxy statement/prospectus carefully before making any voting or investment decisions.
NO OFFER OR SOLICITATION
This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
FORWARD LOOKING STATEMENTS
This communication includes “forward-looking statements” as defined by the SEC. Such statements include those concerning strategic plans, Devon’s and WPX’s expectations and objectives for future operations, as well as other future events or conditions, and are often identified by use of the words and phrases such as “expects,” “believes,” “will,” “would,” “could,” “continue,” “may,” “aims,” “likely to be,” “intends,” “forecasts,” “projections,” “estimates,” “plans,” “expectations,” “targets,” “opportunities,” “potential,” “anticipates,” “outlook” and other similar terminology. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that Devon or WPX expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Devon’s and WPX’s control. Consequently, actual future results could differ materially from Devon’s and WPX’s expectations due to a number of factors, including, but not limited to: the risk that Devon’s and WPX’s businesses will not be integrated successfully; the risk that the cost savings, synergies and growth from the Proposed Transaction may not be fully realized or may take longer to realize than expected; the diversion of management time on transaction-related issues; the effect of future regulatory or legislative actions on the companies or the industries in which they operate, including the risk of new restrictions with respect to hydraulic fracturing or other development activities on Devon’s or WPX’s federal acreage or their other assets; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the risk that Devon or WPX may be unable to obtain governmental and regulatory approvals required for the Proposed Transaction, or that required governmental and regulatory approvals may delay the Proposed Transaction or result in the imposition of conditions that could reduce the anticipated benefits from the Proposed Transaction or cause the parties to abandon the Proposed Transaction; the risk that a condition to closing of the Proposed Transaction may not be satisfied; the length of time necessary to consummate the Proposed Transaction, which may be longer than anticipated for various reasons; potential liability resulting from pending or future litigation; changes in the general economic environment, or social or political conditions, that could affect the businesses; the potential impact of the announcement or consummation of the Proposed Transaction on relationships with customers, suppliers, competitors, management and other employees; the ability to hire and retain key personnel; reliance on and integration of information technology systems; the risks associated with assumptions the parties make in connection with the parties’ critical accounting estimates and legal proceedings; the volatility of oil, gas and natural gas liquids (NGL) prices; uncertainties inherent in estimating oil, gas and NGL reserves; the impact of reduced demand for our products and products made from them due to governmental and societal actions taken in response to the COVID-19 pandemic; the uncertainties, costs and risks involved in Devon’s and WPX’s operations, including as a result of employee misconduct; natural disasters, pandemics, epidemics (including COVID-19 and any escalation or worsening thereof) or other public health conditions; counterparty credit risks; risks relating to Devon’s and WPX’s indebtedness; risks related to Devon’s and WPX’s hedging activities; competition for assets, materials, people and capital; regulatory restrictions, compliance costs and other risks relating to governmental regulation, including with respect to environmental matters; cyberattack risks; Devon’s and WPX’s limited control over third parties who operate some of their respective oil and gas properties; midstream capacity constraints and potential interruptions in production; the extent to which insurance covers any losses Devon or WPX may experience; risks related to investors attempting to effect change; general domestic and international economic and political conditions, including the impact of COVID-19; and changes in tax, environmental and other laws, including court rulings, applicable to Devon’s and WPX’s business.
In addition to the foregoing, the COVID-19 pandemic and its related repercussions have created significant volatility, uncertainty and turmoil in the global economy and Devon’s and WPX’s industry. This turmoil has included an unprecedented supply-and-demand imbalance for oil and other commodities, resulting in a swift and material decline in commodity prices in early 2020. Devon’s and WPX’s future actual results could differ materially from the forward-looking statements in this communication due to the COVID-19 pandemic and related impacts, including, by, among other things: contributing to a sustained or further deterioration in commodity prices; causing takeaway capacity constraints for production, resulting in further production shut-ins and additional downward pressure on impacted regional pricing differentials; limiting Devon’s and WPX’s ability to access sources of capital due to disruptions in financial markets; increasing the risk of a downgrade from credit rating agencies; exacerbating counterparty credit risks and the risk of supply chain interruptions; and increasing the risk of operational disruptions due to social distancing measures and other changes to business practices. Additional information concerning other risk factors is also contained in Devon’s and WPX’s most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other SEC filings.
Many of these risks, uncertainties and assumptions are beyond Devon’s or WPX’s ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Nothing in this communication is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per share of Devon or WPX for the current or any future financial years or those of the combined company will necessarily match or exceed the historical published earnings per share of Devon or WPX, as applicable. Neither Devon nor WPX gives any assurance (1) that either Devon or WPX will achieve their expectations, or (2) concerning any result or the timing thereof, in each case, with respect to the Proposed Transaction or any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, cost reductions, business strategies, earnings or revenue trends or future financial results.
All subsequent written and oral forward-looking statements concerning Devon, WPX, the Proposed Transaction, the combined company or other matters and attributable to Devon or WPX or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Devon and WPX assume no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
WPX MEDIA CONTACT:
Kelly Swan
(539) 573-4944
WPX INVESTOR CONTACT:
David Sullivan
(539) 573-9360
DEVON MEDIA CONTACT:
Lisa Adams
(405) 228-1732
DEVON INVESTOR CONTACTS:
Scott Coody, (405) 552-4735
Chris Carr, (405) 228-2496
LUXEMBOURG--(BUSINESS WIRE)--Pacific Drilling S.A. (the “Company”) announced today that the Company and each of its debtor affiliates have emerged from the Chapter 11 process, signaling the successful completion of the Company’s balance-sheet restructuring and the implementation of the Modified First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (the “Plan”) confirmed by the United States Bankruptcy Court for the Southern District of Texas on December 21, 2020.
Pursuant to the Plan, all of the Company’s outstanding common shares were deemed to have no value and will receive no recovery. In accordance with the restructuring transactions contemplated by the Plan, upon emergence, the Company has a new parent company, Pacific Drilling Company LLC, a Cayman Islands limited liability company (the “reorganized Company”), the equity of which is owned by former creditors of the Company and its debtor affiliates.
“We are pleased to reach completion of this process. Having now emerged from Chapter 11 with a fully de-levered balance sheet, we are well positioned to continue to deliver world class drilling services with our fleet of 6th and 7th generation drillships,” said Bernie G. Wolford, Chief Executive Officer of the reorganized Company.
After emergence, the reorganized Company now operates with a substantially de-levered capital structure, due to the elimination of more than $1 billion of funded debt obligations pursuant to the Plan. The reorganized Company has approximately $100 million in cash on hand, and access to an undrawn $80 million senior secured delayed draw term loan exit facility, to support its ongoing operations.
Additional information regarding the restructuring and Chapter 11 proceedings, including the Plan, can be found (i) on the reorganized Company’s website at www.pacificdrilling.com/restructuring, (ii) on a website administered by Prime Clerk LLC, at http://cases.primeclerk.com/PacificDrilling2020, or (iii) via our dedicated restructuring information line at: +1 877-930-4314 (toll free) or +1 347-897-4073 (international). In connection with emergence from the Chapter 11 process, the Company filed with the Securities and Exchange Commission a Form 15 to suspend its duty to file periodic reports under the Securities Exchange Act of 1934.
Advisors
In the Company’s Chapter 11 process, Greenhill & Co. acted as financial advisor, Latham & Watkins LLP and Jones Walker LLP served as legal counsel, and AlixPartners acted as restructuring advisor to the Company. Houlihan Lokey acted as financial advisor and Akin Gump Strauss Hauer & Feld LLP acted as legal advisor to an ad hoc group of noteholders.
About Pacific Drilling
With our best-in-class drillships and highly experienced team, Pacific Drilling is committed to exceeding our customers’ expectations by delivering the safest, most efficient and reliable deepwater drilling services in the industry. Pacific Drilling’s fleet of seven drillships represents one of the youngest and most technologically advanced fleets in the world. For more information about Pacific Drilling, including the Chapter 11 proceedings and the Plan of Reorganization, please visit our website at www.pacificdrilling.com.
Forward-Looking Statements
Certain statements and information contained in this press release constitute “forward-looking statements,” and are generally identifiable by their use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “our ability to,” “may,” “plan,” “potential,” “predict,” “project,” “projected,” “should,” “will,” “would,” or other similar words which are not generally historical in nature. The forward-looking statements speak only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Our forward-looking statements express our current expectations or forecasts of possible future results or events, including from our Chapter 11 proceedings; the appeal filed by Patrick F. Lennon, in his capacity as liquidation trustee of the liquidation trust established in the Chapter 11 cases of Pacific Drilling VIII Limited and Pacific Drilling Services, Inc. (the “Liquidation Trustee”), of the order confirming the Plan (the “Confirmation Order”); the future impact of the COVID-19 pandemic on our business; future financial and operational performance and cash balances; our future liquidity position and future efforts to improve our liquidity position, revenue efficiency levels, market outlook, forecasts of trends, future client contract opportunities, future contract dayrates, our business strategies and plans or objectives of management; estimated duration of client contracts; backlog; expected capital expenditures; and projected costs and savings.
Although we believe that the assumptions and expectations reflected in our forward-looking statements are reasonable and made in good faith, these statements are not guarantees, and actual future results may differ materially due to a variety of factors. These statements are subject to a number of risks and uncertainties and are based on a number of judgments and assumptions as of the date such statements are made about future events, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in such statements due to a variety of factors, including if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect.
Important factors that could cause actual results to differ materially from our expectations include: the potential continued impact from our Chapter 11 proceedings; the potential outcome of the Liquidation Trustee’s appeal of the Confirmation Order; evolving risks from the COVID-19 outbreak and resulting significant disruption in international economies, and international financial and oil markets, including a substantial decline in the price of oil during 2020, which if sustained would continue to have a material adverse effect on our financial condition, results of operations and cash flow; changes in actual and forecasted worldwide oil and gas supply and demand and prices, and the related impact on demand for our services; the offshore drilling market, including changes in capital expenditures by our clients; rig availability and supply of, and demand for, high-specification drillships and other drilling rigs competing with our fleet; our ability to enter into and negotiate favorable terms for new drilling contracts or extensions of existing drilling contracts; our ability to successfully negotiate and consummate definitive contracts and satisfy other customary conditions with respect to letters of intent and letters of award that we receive for our drillships; actual contract commencement dates; possible cancellation, renegotiation, termination or suspension of drilling contracts as a result of mechanical difficulties, performance, market changes or other reasons; costs related to stacking of rigs and costs to reactivate a stacked rig; downtime and other risks associated with offshore rig operations, including unscheduled repairs or maintenance, relocations, severe weather or hurricanes or accidents; our small fleet and reliance on a limited number of clients; the effects of the Chapter 11 proceedings on our operations and agreements, including our relationships with employees, regulatory authorities, customers, suppliers, banks and other financing sources, insurance companies and other third parties; the potential adverse effects of the Chapter 11 proceedings on our liquidity, results of operations, or business prospects; and the increased administrative and legal costs related to the Chapter 11 proceedings.
Investor Contact:
James Harris
Pacific Drilling S.A.
+713 334 6662
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Amy L. Roddy
Pacific Drilling S.A.
+713 334 6662
This email address is being protected from spambots. You need JavaScript enabled to view it.
VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE: UGI) announced that it has signed a definitive agreement to acquire Mountaintop Energy Holdings LLC, owner of Mountaineer Gas Company (“Mountaineer”), the largest gas local distribution company in West Virginia for an enterprise value of $540 million, which includes the assumption of approximately $140 million of debt.
Mountaineer serves nearly 215,000 customers across 50 of the state’s 55 counties. The customer base is approximately 90% residential, with the remaining 10% comprised of commercial and industrial customers. Mountaineer is fully regulated, and its system has nearly 6,000 miles of distribution, transmission, and gathering pipelines.
“We are very pleased to announce this important transaction and expand our core utility operations in the mid-Atlantic region,” said John L. Walsh, President and Chief Executive Officer of UGI. “The transaction is immediately accretive to adjusted EPS and provides us with an opportunity to support our customers in West Virginia with a long-term commitment to ensure safe, reliable, affordable, and environmentally responsible natural gas services. Our existing Utilities business has shown the value of this long-term commitment to system enhancement and we expect to make a similar commitment in West Virginia. We see significant investment opportunities to continue, if not accelerate, the replacement of over 1,500 miles of bare steel pipelines and expand the reach of natural gas in West Virginia to both unserved and underserved areas. These investments will improve the safety and reliability of the distribution system and align with our environmental efforts to lower methane and other GHG emissions. We expect Mountaineer’s rate base to grow by a compound annual growth rate of approximately 10% - 12% over the long term.
“Over the past two years, we have indicated our intention to rebalance our business mix by investing more to build out our natural gas businesses. This transaction is an important step in the rebalancing efforts and will support UGI’s long-term annual commitments to grow EPS and dividends by 6% - 10% and 4%, respectively,” Mr. Walsh concluded.
Robert F. Beard, Executive Vice President, Natural Gas of UGI, said, “Mountaineer is a great fit for our natural gas businesses and UGI as a whole. The company brings an exceptional management team with significant experience, a track record of safe operations, and strong regulatory relationships. Like UGI Utilities, Mountaineer’s customers are situated in the prolific Marcellus shale production region and have access to clean, abundant, reliable, and affordable natural gas. We look forward to becoming a part of the West Virginia community and investing in the safety and reliability of the Mountaineer system, while maintaining competitive rates for our customers and building on an already strong history of excellent customer service. With UGI’s over 135 years of experience in the gas utilities business, we are confident that we can execute on investment opportunities while providing best-in-class service to our new customers. This transaction makes sense strategically, operationally, and culturally and we look forward to welcoming the Mountaineer employees and customers to the UGI family of companies.”
Closing Details
The transaction is subject to customary regulatory and other closing conditions, including approval by the Public Service Commission of West Virginia. Federal antitrust clearance is also required pursuant to the U.S. Hart-Scott-Rodino Antitrust Improvements Act. Assuming fulfillment of all conditions, the transaction is expected to close in the second half of calendar year 2021.
Transaction Details
The transaction is expected to be accretive to adjusted EPS in the first full year of combined operations. UGI expects to finance the acquisition through debt and / or equity-linked securities and existing liquidity to optimize accretion while maintaining a strong balance sheet. UGI does not expect to issue common equity to finance the acquisition.
Advisors
Goldman Sachs & Co. LLC is serving as UGI’s financial advisor and Latham & Watkins LLP is serving as legal counsel.
Investment Community Call
UGI will hold a live Internet Audio Webcast of its conference call to discuss the acquisition of Mountaintop Energy Holdings, LLC at 9:00 AM ET on Tuesday, January 5, 2021. Interested parties may listen to the audio webcast both live and in replay on the Internet at https://edge.media-server.com/mmc/p/3tbty4tw or at the company website at http://www.ugicorp.com under “Investors – Presentations.” A telephonic replay will be available from 12:00 PM ET on January 5, 2020 through 12:00 PM ET on January 12, 2020. The replay may be accessed at (855) 859-2056, and internationally at (404) 537-3406, conference ID 5662188.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in twelve states and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
FORWARD-LOOKING STATEMENTS
This press release contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). Management believes that these are reasonable as of today’s date only. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management’s control. You should read UGI’s Annual Report on Form 10-K for a more extensive list of factors that could affect results. Among them are adverse weather conditions (including increasingly uncertain weather patterns due to climate change) and the seasonal nature of our business; cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil; increased customer conservation measures; the impact of pending and future legal proceedings, liability for uninsured claims and for claims in excess of insurance coverage; domestic and international political, regulatory and economic conditions in the United States and in foreign countries, including the current conflicts in the Middle East and the withdrawal of the United Kingdom from the European Union, and foreign currency exchange rate fluctuations (particularly the euro); the timing of development of Marcellus Shale gas production; the availability, timing and success of our acquisitions, commercial initiatives and investments to grow our business; our ability to successfully integrate acquired businesses and achieve anticipated synergies; the interruption, disruption, failure, malfunction, or breach of our information technology systems, including due to cyber-attack; the inability to complete pending or future energy infrastructure projects; our ability to achieve the operational benefits and cost efficiencies expected from the completion of pending and future transformation initiatives at our business units; uncertainties related to the global pandemics, including the duration and/or impact of the COVID-19 pandemic; and the extent to which we are able to utilize certain tax benefits currently available under the CARES Act and similar tax legislation and whether such benefits will remain available in the future.
NON-SOLICITATION
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Investor Relations
Brendan Heck, 610-337-1000 ext. 6608
Tameka Morris, 610-456-6297
Shelly Oates, 610-337-1000 ext. 3202
LEAWOOD, KS--(BUSINESS WIRE)--This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding the distributions paid on December 31, 2020 and cumulative distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distributions, payable December 31, 2020 and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.
Tortoise Power and Energy Infrastructure Fund, Inc.
Estimated Sources of Distributions |
||||||||
|
($) Current
|
% Breakdown
|
($) Total Cumulative
|
% Breakdown of the
|
||||
Net Investment Income |
0.0225 |
45% |
0.0225 |
45% |
||||
Net Realized Short-Term Capital Gains |
0.0192 |
38% |
0.0192 |
38% |
||||
Net Realized Long-Term Capital Gains |
0.0000 |
0% |
0.0000 |
0% |
||||
Return of Capital |
0.0083 |
17% |
0.0083 |
17% |
||||
Total (per common share) |
0.0500 |
100% |
0.0500 |
100% |
||||
Average annual total return (in relation to NAV) for the 5 years ending on 11/30/2020 |
-1.53% |
|
Annualized current distribution rate expressed as a percentage of NAV as of 11/30/2020 |
4.61% |
|
|
|
|
Cumulative total return (in relation to NAV) for the fiscal year through 11/30/2020 |
-18.93% |
|
Cumulative fiscal year distributions as a percentage of NAV as of 11/30/2020 |
.38% |
You should not draw any conclusions about TPZ’s investment performance from the amount of this distribution or from the terms of TPZ’s distribution policies.
TPZ estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TPZ is paid back to you. A return of capital distribution does not necessarily reflect TPZ’s investment performance and should not be confused with "yield" or "income."
The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Tortoise Capital Advisors is the Adviser to the Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on these funds, please visit cef.tortoiseecofin.com.
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseEcofin.com.
Cautionary Statement Regarding 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 the funds and Tortoise Capital Advisors believe 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 those discussed in the fund’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, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Maggie Zastrow
(913) 981-1020
This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--#GlobalBallastWaterManagementMarket--Technavio estimates the global ballast water management market to grow by USD 5.29 billion, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the growing marine logistics business. However, the high cost of ballast water management might challenge growth.
Get a Free Sample Report Delivered Instantly to Know More
Ballast Water Management Market: Technology Landscape
Based on technology, the market saw maximum growth in the physical disinfection segment in 2019. The segment is driven by the introduction of technologically advanced UV light-based ballast water management systems by vendors. The market growth in the segment will be significant over the forecast period.
Ballast Water Management Market: Geography Landscape
59% of the market’s growth originated from APAC in 2019. Factors such as the rapid growth in the shipping industry, enforcement of regulations by governments, initiatives for increasing the awareness and feasibility of ballast water management, and the availability of efficient solutions offered by vendors are driving the growth of the market in APAC.
Singapore and China are the key markets for ballast water management in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Develop Smart Strategies for Your Business: Get a Free Sample Report Now!
Major Three Ballast Water Management Market Vendors:
Alfa Laval AB
Alfa Laval AB operates its business through segments such as Energy, Food & Water, Marine, Greenhouse, and Operations & Other. PureBallast 3.1 is the key product offered by the company.
Evoqua Water Technologies LLC
Evoqua Water Technologies LLC operates its business through the Applied Product Technologies segment. The company offers SeaCURE Ballast Water Management System.
Headway Technology Group (Qingdao) Co. Ltd.
Headway Technology Group (Qingdao) Co. Ltd. operates its business through the Unified segment. OceanGuard BWMS is the key product offered by the company.
Give Your Business a Head Start for 2021: Download Our Free Sample Report
Related Reports on Industrials Include:
Global Water and Wastewater Management Market for the Mining Sector – Global water and wastewater management market for the mining sector is segmented by product (water treatment and wastewater treatment) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Water Utility Monitoring System Market – Global water utility monitoring system market is segmented by technology (AMI and AMR), end-user (domestic and industrial), and geography (Europe, APAC, North America, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Subscribe to World-Class Market Intelligence and gain instant access to 17,000+ market research reports and connect with expert analysts
What our reports offer:
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/
VIRTUAL SESSION
HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority will conduct a special meeting virtually via Webex webinar on Tuesday, Jan. 5, at 10:30 a.m. or immediately following the adjournment of the meeting of the Compensation Committee of the Port Commission, which is scheduled to start at 10:00 a.m.
Governor Abbott’s action of March 16, 2020 allows these virtual and telephonic open meetings to maintain government transparency.
The Executive Office Building is closed to the general public; however, the public can participate virtually via Webex, accessed as provided on the following page.
The Special Meeting agenda is available at http://porthouston.com/leadership/public-meetings/.
The Compensation Committee agenda and the instructions to virtually access both meetings are also available at http://porthouston.com/leadership/public-meetings/.
Sign up for public comment up to an hour before the special meeting by contacting Erik Eriksson at This email address is being protected from spambots. You need JavaScript enabled to view it. or Liana Christian at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel – the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. nation. The more than 200 private and eight public terminals along the federal waterway supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6% of Texas’ total gross domestic product (GDP) – and a total of $801.9 billion in economic impact across the nation. For more information, visit the website at https://porthouston.com/
The Executive Office Building is closed to the general public at this time.
Please note the following to help the meeting run smoothly:
When it's time, join your Webex meeting here.
Meeting number (access code): 146 918 8978
Meeting password: WiKsnFtt433
Join meeting
Tap to join from a mobile device (attendees only)
+1-720-650-7664,,1469188978## United States Toll (Denver)
+1-469-210-7159,,1469188978## United States Toll (Dallas)
Join by phone
+1-720-650-7664 United States Toll (Denver)
+1-469-210-7159 United States Toll (Dallas)
Global call-in numbers
Join from a video system or application
Dial This email address is being protected from spambots. You need JavaScript enabled to view it.
You can also dial 173.243.2.68 and enter your meeting number.
Join using Microsoft Lync or Microsoft Skype for Business
Dial This email address is being protected from spambots. You need JavaScript enabled to view it.
Need help? Go to http://help.webex.com
Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Solar Backsheet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global solar backsheet market grew at a CAGR of around 8% during 2014-2019. Looking forward, the global solar backsheet market to continue its moderate growth during the next five years.
A solar backsheet refers to the outermost layer of a photovoltaic (PV) unit used to protect and shield the internal peripherals of the solar module. Some of the commonly used solar backsheets include non-, single- and double-fluoropolymer backsheets that can be mounted on the roof, ground or floating power plants. These backsheets are usually manufactured using polymers or a combination of polymers and placed at the bottom of the solar panel.
They are highly robust and exhibit high electrical insulation and protective properties against external impacts, dust, chemicals, sand, wind, extreme temperatures, moisture and ultraviolet (UV) radiations. They also offer various favorable mechanical, electrical, optical and chemical properties essential for the overall durability and safety of the photovoltaic modules.
A significant increase in the number of solar panel installations across the globe represents one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting various solar energy projects is also stimulating the market growth.
Due to the rising preference for sustainable energy resources and the increasing emphasis on utility-scale projects, there is an escalating demand for solar roof-tops with efficient backsheets across the residential, commercial and industrial sectors. This, in turn, is creating a positive outlook for the market.
Additionally, various product innovations, such as the development of advanced fluoropolymer backsheets, are acting as other growth-inducing factors. These variants offer enhanced hydrolytic stability and resistance to extreme weather conditions.
Other factors, including the increasing development of micro-grid networks to meet the rising off-grid energy demands, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 3M Company, Arkema S.A, Astenik Solar Inc., COVEME S.p.A (MH & RE. S.p.A.), Dupont De Nemours Inc., KREMPEL GmbH, Targray Technology International Inc., Toray Industries Inc., Toyo Aluminium KK and ZTT International Limited (Jiangsu Zhongtian Technology Co. Ltd.).
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Backsheet Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Fluoropolymer
6.2 Non-Fluoropolymer
7 Market Breakup by Installation Technique
7.1 Floating Power Plant
7.2 Ground Mounted
7.3 Roof Mounted
8 Market Breakup by Thickness
8.1 Less Than 100mm
8.2 100mm-500mm
8.3 More than 500mm
9 Market Breakup by Application
9.1 Utility
9.2 Industrial
9.3 Commercial
9.4 Residential
9.5 Military
10 Market Breakup by Region
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/ydh7lq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
LITTLE RIVER, S.C.--(BUSINESS WIRE)--$PCTL--PCT Ltd. (OTC Pink:PCTL) announces that PCTL and RB Capital Partners, Inc. have executed and received an additional $150,000 conventional, convertible loan with 5% annual interest and a $0.10/share fixed conversion rate. PCTL has earmarked a large portion of these monies for the build and completion of 4 Annihilyzer® Infection Control Systems for the Healthcare Industry and the completion of 3 pieces of the Company’s Legacy equipment.
With regard to the Company’s issued and outstanding shares; as of today, our I/O share count has remained the same at 721,187,846 shares.
As PCTL continues its pursuit to gain acceptance to list on OTC:QB, we are in the final stages of addressing all comments from the OTC Markets Compliance Team. Provided there are no more questions, the process will proceed in queue with OTC Markets for the jump to the OTC:QB listing.
Finally, as seen on our Tweet yesterday, we will additionally be disseminating pertinent company information on our official Twitter account, (https://mobile.twitter.com/@PCTL2021). Later today, the Company will Tweet information about our end-of-year shareholder letter and will provide a link to our website for review of that communication.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC:PINK, "PCTL" is actively engaged in applying for listing its common stock to the OTC QB market. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
ADDITIONAL NEWS AND CORPORATE UPDATES:
PCTL would like to warn its stockholders and potential investors that material corporate information regarding sales, areas of business and other corporate updates will only be made through press releases or filings with the SEC and through Twitter (PCTL@PCTL2021). PCTL does not utilize social media, chatrooms or other online sources to disclose material information. The public should only rely on official press releases, Tweets from the Company’s official Twitter account, and corporate filings for accurate and up to date information regarding PCTL.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Gary Grieco, CEO and Chairman, PCT LTD
(843) 390-7900 Office
(843) 390-2347 Fax
www.para-con.com
www.pctcorphealth.com
www.survivalyte.com
Twitter: https://mobile.twitter.com/PCTL2021
Rich Inza, Investor Relations (RMJ Consulting, LLC)
(843) 491-4611
This email address is being protected from spambots. You need JavaScript enabled to view it.
Shape strategic responses through the phases of industry recovery
Epsiline, ESCO Technologies Inc., and Vaisala Oyj will emerge as major nacelle-mounted LIDAR systems market for wind industry market participants during 2021-2025
LONDON--(BUSINESS WIRE)--#GlobalNacelleMountedLightDetectionandRangingLIDARSystemsMarketforWindIndustry--The nacelle-mounted LIDAR systems market for wind industry market is expected to grow by USD 15.95 million during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the nacelle-mounted LIDAR systems market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The nacelle-mounted LIDAR systems market for wind industry market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the next normal.
This post-pandemic business planning research will aid clients to:
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
Gain instant access to 17,000+ market research reports by using
Technavio's SUBSCRIPTION platform
Related Report on Utilities Industries:
Global Primary Lithium Battery Market- The primary lithium battery market is segmented by application (consumer electronics, industrial, and others), geography (APAC, North America, Europe, South America, and MEA), and key vendors. Click Here to Get an Exclusive Free Sample Report
Global Rooftop Solar Market- The rooftop solar market is segmented by application (non-residential and residential), geography (APAC, Europe, North America, MEA, and South America), and key vendors. Click Here to Get an Exclusive Free Sample Report
Major Three Nacelle-Mounted LIDAR Systems Market For Wind Industry Market Participants:
Epsiline
Epsiline operates the business through the Unified segment. The company offers monitoring and optimization tools providing nacelle-mounted wind LiDAR WIND EAGLE for valuable information that enables multiple types of analysis of wind turbine performance and optimization.
ESCO Technologies Inc.
ESCO Technologies Inc. operates the business through various segments such as Filtration/Fluid Flow, Utility Solutions Group, RF Shielding & Test, and Technical Packaging. The company offers LIDAR systems specializing in wind measurement remote sensing solutions.
Vaisala Oyj
Vaisala Oyj operates the business through various segments such as Weather and Environment, and Industrial Measurements. The company offers a nacelle-mounted LIDAR system used for performance measurement and optimization applications.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/nacelle-mounted-LIDAR-systems-market-for-wind-industry-market-industry-analysis
Nacelle-Mounted LIDAR Systems Market For Wind Industry Market 2021-2025: Segmentation
Nacelle-mounted LIDAR systems market for wind industry market is segmented as below:
The nacelle-mounted LIDAR systems market for the wind industry market is driven by the increase in the hub height. In addition, other factors such as the growing adoption of the LIDAR technology are expected to trigger the nacelle-mounted LIDAR systems market for the wind industry market toward witnessing a CAGR of almost 5% during the forecast period.
Get more insights about the global trends impacting the future of nacelle-mounted LIDAR systems market for wind industry market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45951
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/
DUBLIN--(BUSINESS WIRE)--The "Piezoelectric Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global piezoelectric devices market grew at a CAGR of around 6% during 2014-2019.
Piezoelectric devices refer to the equipment that utilizes the piezoelectric effect to measure acceleration, pressure, temperature and force by converting the surrounding mechanical energy into an electrical pulse. Some of the commonly used piezoelectric devices include generators, sensors, actuators and transducers. They are manufactured using piezoceramics, such as quartz, to transform physical force into alternating current (AC) on being subjected to mechanical stress or vibrations.
In comparison to their traditionally used counterparts, these devices are not affected by electromagnetic fields and radiations and can be used in extreme conditions. As a result, piezoelectric devices find extensive applications across various industries, such as automotive, healthcare, information technology (IT) and telecommunication, consumer goods, aerospace & defense and manufacturing.
Significant growth in the electronics and automotive industries represents one of the key factors creating a positive outlook for the market. Furthermore, the easy availability of piezoceramics across the globe is also driving the market growth. Piezoceramics offer a faster response rate, higher output, frequency and sensitivity and can be easily used for low- and high-voltage drive circuits. They are also widely used in pressure sensors, sonar equipment, diesel fuel injectors, solenoids, optical instruments and ultrasonic cleaners, which, in turn, is contributing to the market growth further.
Additionally, various technological advancements, such as the development of miniaturized nanogenerators, are anticipated to drive the market further. Piezoelectric nanogenerators are used in portable consumer devices, such as smartphones, smartwatches, laptops and tablets, to harvest vibration energy and cater to the energy requirements of the device. In line with this, piezoelectric actuators are also used in the healthcare sector for precision and stability in microscopy for diagnostic applications.
Looking forward, the global piezoelectric devices market to continue its moderate growth during the next five years.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Piezoelectric Devices Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Sensors
6.2 Actuators
6.3 Transducers
6.4 Motors
6.5 Generators
7 Market Breakup by Material
7.1 Ceramics
7.2 Crystals
7.3 Polymers
7.4 Composites
7.5 Others
8 Market Breakup by Application
8.1 Automotive
8.2 Healthcare
8.3 Information Technology and Telecommunication
8.4 Consumer Goods
8.5 Aerospace and Defense
8.6 Manufacturing
8.7 Others
9 Market Breakup by Region
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/g22koe
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DUBLIN--(BUSINESS WIRE)--The "Net-Zero Energy Buildings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global net-zero energy buildings market exhibited strong growth during 2014-2019. Looking forward, the publisher expects the global net-zero energy buildings market to continue its strong growth during the next five years.
Net-zero energy (NZE) buildings refer to the constructions that are optimized to use on-site renewable resources to meet energy requirements. They use passive solar heat gain through photovoltaics (PV) and geothermal energy systems to stabilize temperature variations in the complex throughout the day.
The buildings also include highly efficient heating and cooling equipment, appliances, walls & roofs, windows and doors. They aid in maintaining the desired insulation, natural ventilation and air sealing, thereby minimizing the overall energy consumption and wastage over time. As a result, these buildings are widely used as residential complexes, office spaces, educational facilities and public buildings.
The increasing utilization of renewable resources for power generation across the globe represents one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies and initiatives to minimize carbon emissions and promote sustainable development is also driving the market growth.
For instance, the California Public Utilities Commission (CPUC) implemented a long-term efficiency strategy plan to promote the construction of new NZE buildings.
Additionally, various product innovations, such as the development of innovative gas water heaters and other heating, ventilation and air conditioning (HVAC) systems, are acting as other growth-inducing factors. These systems aid in maintaining the indoor air quality and safety and ensuring a non-hazardous environment in low-rise buildings.
Other factors, including extensive research and development (R&D) activities, along with rapid infrastructural development, especially in developing countries, are anticipated to drive the market further.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Net-Zero Energy Buildings Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Offering
6.1 Equipment
6.1.1 Market Trends
6.1.2 Market Breakup by Type
6.1.2.1 Lighting
6.1.2.2 Walls and Roofs
6.1.2.3 HVAC Systems
6.1.2.4 Others
6.1.3 Market Forecast
6.2 Solutions and Services
6.2.1 Market Trends
6.2.2 Market Breakup by Type
6.2.2.1 Software Solutions
6.2.2.2 Designing Services
6.2.2.3 Consulting Services
6.2.3 Market Forecast
7 Market Breakup by Building Type
7.1 Commercial
7.2 Residential
8 Market Breakup by Region
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/l8xh45
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.