Highlights:
SYLMAR, Calif.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) has been awarded a multi-million-dollar contract to deliver two Low-Frequency Active Towed Sonar (LFATS) systems to a NATO member. The LFATS system is used on ships to detect, track and engage all types of submarines. L3Harris specifically designed the system to perform at a lower operating frequency against modern diesel-electric submarine threats.
“This award represents our continued growth in the international naval market by providing our allies with a new, variable depth sonar capability to enhance the anti-submarine warfare capabilities of their surface combatants,” said Sean Stackley, President, Integrated Mission Systems, L3Harris. “Our sonar technology delivers excellent detection, localization and tracking in a compact, light-weight package.”
The United States Department of Defense recently awarded this 26-month delivery order under VSE Corporation’s Foreign Military Sales contract with the Naval Sea Systems Command International Fleet Support Program Office.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries. L3Harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about technology capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Deanna Burke
Integrated Mission Systems
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Sara Banda
Media Relations
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) announced today it has closed the previously announced acquisition of the assets of a retail propane and heating oil distribution company operating under the tradename Rymes Propane and Oil (“Rymes”). The amount of the purchase price due on closing was paid with cash from Superior’s credit facility.
"I am excited to welcome the Rymes employees and customers to the Superior Plus Propane family,” said Andy Peyton, President of Superior’s U.S. propane distribution business. “We’re looking forward to expanding our footprint in the New Hampshire and New England propane markets and growing our business in these attractive markets in the Northeast U.S.”
This acquisition includes all Rymes operations except its business and related assets on the island of Martha’s Vineyard, Massachusetts.
About the Corporation
Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and Specialty Chemicals includes the production and distribution of specialty chemicals products.
For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Beth Summers, Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran, Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)
NEW YORK--(BUSINESS WIRE)--Falcon Minerals Corporation (“Falcon” or the “Company”) (NASDAQ: FLMN, FLMNW) announced today that the Company will be participating in three upcoming investor conferences.
The Company will participate in the Simmons Gleneagles Virtual Conference on Thursday September 3, 2020. Daniel Herz, Chief Executive Officer and Bryan Gunderson, Chief Financial Officer will be hosting investor meetings at the conference throughout the day on Thursday, September 3.
In addition, the Company will participate in the Barclay's CEO Energy-Power Conference on Thursday September 10, 2020. Mr. Herz will host a fireside chat at 9:05 AM ET on Thursday, September 10. Mr. Herz and Mr. Gunderson will also be hosting investor meetings at the conference throughout the day on September 10.
Finally, the Company will participate in the Credit Suisse Oil & Gas Royalty Mineral Investor Day on Wednesday September 16, 2020. Mr. Herz will make a presentation to investors at 10:00 AM ET on Wednesday, September 16. Mr. Herz and Mr. Gunderson will also be hosting investor meetings at the conference throughout the day on September 16.
About Falcon Minerals
Falcon Minerals Corporation (NASDAQ: FLMN, FLMNW) is a C-Corporation formed to own and acquire high growth oil-weighted minerals rights. Falcon Minerals owns mineral, royalty, and over-riding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas. The Company also owns approximately 75,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia. For more information, visit our website at www.falconminerals.com.
Bryan C. Gunderson
Chief Financial Officer
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McQ Inc. celebrates 35 years of pushing sensor technology to support National Security
FREDERICKSBURG, Va.--(BUSINESS WIRE)--#AFWERXselected--AFWERX, the innovation program of the United States Air Force initiated a Base of the Future Challenge to seek new technologies that greatly enhance the security and defense of Air Force Bases. AFWERX received over 1,500 submissions and accepted 374 proposals for the Challenge. McQ was down-selected in an initial group of 92 proposals followed by a virtual presentation by McQ of our “Global Multi Domain Security and Base Defense” solution. Based on the presentation, McQ was selected to receive direct-to-contract authorization under the RAPIDx Commercial Solutions Opening (CSO) AFWERX program.
With the Base of the Future initiative, the U.S. Air Force (USAF) has an opportunity to start from the ground up and create an installation that will become a universal symbol of innovation and excellence. For this challenge initiative, AFWERX was seeking solutions that will increase the effectiveness of base security and defense. As the Air Force builds new and restores existing installations, they have the opportunity to examine and improve the existing security and defense systems that protect the people and critical resources they house. The focus areas of this challenge include Air Force bases with perimeters that require safeguarding from threats such as unauthorized or attempted illegal entry, active shooters, explosives, cyber risks and many other potential threats. AFWERX requested proposals to restore and rebuild Tyndall Air Force Base into the “Base of the Future” as a model for future base upgrades.
McQ has developed a “Global Situation Awareness System” that enables deploying our advanced sensors anywhere in the world and immediately connecting the information to distributed users via Iridium’s secure satellite network. This system architecture enables multi source fusion, Artificial Intelligence, and Machine Learning via a secure Cloud Based system approach. This eliminates terrestrial infrastructure and provides globally distributed information for “Multi Domain Operations.” McQ’s innovative solution uses our new surveillance products, McQ RANGER® and McQ OWL™. These products and our other McQ technologies are currently providing security at many domestic and foreign Air Force bases with real-time reporting of human activity for Base Security and remote area Situation Awareness missions.
Karen Lindsey, This email address is being protected from spambots. You need JavaScript enabled to view it.
www.mcqinc.com
Phone: 540-373-2374
Texas Electricity Retailer Donates $100,000 to UT Austin’s Department of Electrical and Computer Engineering
HOUSTON--(BUSINESS WIRE)--Chariot Energy, an affiliate of 174 Power Global, today announced a collaboration with The University of Texas at Austin to research the use of machine learning and artificial intelligence to enhance the buying process and customer experience for Texans in the market for retail electricity.
“Our team consists of some of the brightest minds in retail electricity, and it’s a privilege to collaborate with students of a best-in-class educational institution focused on technology and engineering,” said Chariot Energy President and CEO, Henry Yun, PhD. “It’s incredibly important to bring technology to the forefront of the highly competitive deregulated energy industry to better understand consumer buying behavior, which gives us to the opportunity to tailor products and better serve customers based on their individual needs. This opportunity supports our team’s effort in improving the overall experience for our customers, starting when they first hear about Chariot Energy.”
As part of the collaboration, Chariot Energy has provided a cash donation of $100,000 to the University’s Department of Electrical and Computer Engineering. Electrical and computer science engineering students also benefit from the collaboration, gaining hands-on experience with various research initiatives throughout the process.
As a customer-centric energy retailer, Chariot Energy is focused on continuing to bring better and more innovative products and services to its growing customer base since its inception in June 2019. The company remains committed to providing 100% renewable energy in its plans at prices competitive to traditional sources of energy, while maintaining its leadership position in the retail electricity marketplace.
About Chariot Energy
Chariot Energy is a Houston-headquartered retail energy provider that provides 100% clean, renewable solar energy to the Texas market. By offering simple, transparent and reliable electricity products to the communities it serves, Chariot Energy is transforming the energy supply for Texas while modernizing and simplifying the way solar energy is sold and delivered. In collaboration with its affiliate companies, Chariot Energy brings competitive prices to the market by leveraging its value chain from the manufacturing of the solar modules and development of utility scale solar plants to the delivery of renewable power to homes and businesses.
Chariot Energy’s mission is to bring solar electricity to all, without a premium.
Chariot Energy was recently named a top three retail electricity provider by the readers of the Houston Chronicle, and a well-established energy ratings website named Chariot Energy a top two retail energy provider, ahead of legacy brands, such as Reliant, TXU and Gexa.
For more information, visit: www.chariotenergy.com
Media Inquiries:
Kelly Kimberly
713.822.7538
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Brian Armentrout
Marketing Director, Chariot Energy
281.968.5635
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AKRON, Ohio--(BUSINESS WIRE)--$BW #BabcockWilcox--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) has been invited to present at the 9th Annual Gateway Conference, which is being held virtually on September 9-10, 2020.
B&W management is scheduled to present on September 10, 2020 at 1 p.m. Pacific time, with one-on-one meetings to be held throughout the conference. The presentation will be webcast live and available for replay here.
To receive additional information, request an invitation or to schedule a one-on-one meeting, please email This email address is being protected from spambots. You need JavaScript enabled to view it..
About the Gateway Conference
The 9th Annual Gateway Conference is an invite-only conference presented by Gateway Investor Relations, a full-service financial communications firm. The conference was created to bring together the most compelling companies with the nation’s top institutional investors and analysts. This year’s event features a long list of companies from a number of growth industries, including technology, business and financial services, consumer, digital media, clean technology and life sciences. The format has been designed to give attendees direct access to senior management via company presentations, Q&A sessions and one-on-one meetings. Follow the Gateway Conference on Twitter and join the conversation using the #GatewayIRConference hashtag. For more information, visit gatewayir.com/conference.
About B&W Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.
Investors:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox Enterprises
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Ryan Cornell
Public Relations
Babcock & Wilcox Enterprises
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NEWPORT, Ky.--(BUSINESS WIRE)--“We are pleased to announce the successful acquisition of the assets associated with NCSG Crane and Heavy Haul in the USA as we continue to expand our Western Region,” said Bryan Carlisle, CEO of Maxim Crane. “We are excited to add the fleet, footprint and team associated with this acquisition to our Maxim Family. The addition of these outstanding team members and equipment will enable us to enhance our service to the wind and renewable energy segment throughout the region. It will ensure that we are able to provide safe, reliable and available services anywhere in the USA,” added Carlisle.
This latest acquisition adds new sites in Billings, Sidney and Great Falls, MT. “These additional sites and fully operational service centers will allow Maxim to increase its presence within the region, which includes the most recent opening of our Denver, CO branch,” added Frank Bardonaro, COO for Maxim.
About Maxim Crane Works
Founded in 1937, Maxim is one of the largest lifting solutions businesses in North America. Maxim, with its affiliated companies, serves more than 8,000 customers through its fleet of over 2,600 cranes situated in 61 branches. Maxim’s full suite of lift solutions include operated and maintained cranes, bare rental cranes, heavy haul/rigging services, and value-added advisory services. Maxim offers a full portfolio of cranes used in a variety of end markets. For more information about Maxim, please visit http://www.maximcrane.com/.
Maxim Crane Works
Frank Bardonaro
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) plans to announce its second quarter 2020 earnings results in a press release that will be issued before the market opens on Thursday, September 3, 2020. Following the earnings release, Synalloy will conduct a conference call and webcast at 9:00 AM EDT to discuss the earnings results. Interested parties may listen to this discussion by calling 1 (877) 303-6648; Conference ID code 9546188. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
The webcast archive of the conference call will be available by 12:00 PM ET on September 4, 2020 on Synalloy's website at www.synalloy.com under the Investor Relations tab.
Synalloy Corporation (Nasdaq: SYNL) is a growth oriented company that engages in a number of diverse business activities including the production of stainless steel and galvanized pipe and tube, the master distribution of seamless carbon pipe and tube, and the production of specialty chemicals. For more information about Synalloy Corporation, please visit our website at www.synalloy.com.
Forward-Looking Statements
Statements included herein that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" within the meaning of federal securities laws. These forward-looking statements are based on current expectations, estimates and projections about our industry, our business, our customer relationships, management's beliefs and assumptions made by management. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict and, in many cases, are beyond the control or knowledge of management. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information concerning some of the factors that could cause materially different results is included in our reports on Forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission's public reference facilities and its website, http://www.sec.gov.
For more information about Synalloy Corporation, please visit our web site at www.synalloy.com.
Sally Cunningham, (804) 822-3267
DUBLIN--(BUSINESS WIRE)--The "Vapor Recovery Units Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global vapor recovery units market is expected to grow at a CAGR of more than 2% over the period of 2020-2025.
Factors such as rising concerns over greenhouse gas emissions, along with stringent environmental regulations for volatile organic compounds (VOC) emissions are expected to drive the market in the forecast period.
However, the high cost of installation and maintenance for recovery systems is likely to restrain the growth of the vapor recovery units market in the coming years.
Companies Mentioned
Key Market Trends
Oil & gas Sector to Dominate the Market
Asia-Pacific to Dominate the Market Growth
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Processing
5.1.2 Storage
5.1.3 Transportation
5.2 End-User
5.2.1 Oil & Gas
5.2.2 Chemical & Petrochemical
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/pciqw9
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LONDON & ROTTERDAM, Netherlands--(BUSINESS WIRE)--Unilever, a leading manufacturer of cleaning and laundry products, today announces it will replace 100% of the carbon derived from fossil fuels in its cleaning and laundry product formulations with renewable or recycled carbon. This move is set to transform the sustainability of global cleaning and laundry brands including OMO (Persil), Sunlight, Cif, and Domestos.
This new ambition is a core component of Unilever’s ‘Clean Future’, a ground-breaking innovation programme designed by the company’s Home Care division to fundamentally change the way that some of the world’s most well-known cleaning and laundry products are created, manufactured, and packaged. Clean Future is unique in its intent to embed the circular economy principles into both packaging and product formulations at the scale of global brands to reduce their carbon footprint.
Most cleaning and laundry products available today contain chemicals made from fossil fuel feedstocks, a non-renewable source of carbon. Unilever’s move to renewable or recycled sources of carbon for these chemicals is a deliberate shift away from the fossil fuel economy. The first initiative of its scale, Clean Future is a critical step towards Unilever’s pledge of net zero emissions from its products by 2039.
The chemicals used in Unilever’s cleaning and laundry products make up the greatest proportion of their carbon footprint (46%) across their life cycle. Therefore, by transitioning away from fossil fuel-derived chemicals in product formulations, the company will unlock novel ways of reducing the carbon footprint of some of the world’s biggest cleaning and laundry brands. Unilever expects this initiative alone to reduce the carbon footprint of the product formulations by up to 20%.
Peter ter Kulve, Unilever’s President of Home Care, explains: “Clean Future is our vision to radically overhaul our business. As an industry, we must learn from brands such as Seventh Generation and break our dependence on fossil fuels, including as a raw material for our products. We must stop pumping carbon from under the ground when there is ample carbon on and above the ground if we can learn to utilise it at scale.
“We’ve seen unprecedented demand for our cleaning products in recent months and we are incredibly proud to play our part, helping to keep people safe in the fight against COVID-19. But that should not be a reason for complacency. We cannot let ourselves become distracted from the environmental crises that our world – our home – is facing. Pollution. Destruction of natural habitats. The climate emergency. This is the home we share, and we have a responsibility to protect it.”
Unilever is ring-fencing €1 billion for Clean Future to finance biotechnology research, CO2 and waste utilisation, and low carbon chemistry – which will drive the transition away from fossil fuel derived chemicals. This investment will also be used to create biodegradable and water-efficient product formulations, to halve the use of virgin plastic by 2025, and support the development of brand communications that make these technologies appealing to consumers. The Clean Future investment, which is additional to Unilever’s new €1 billion ‘Climate and Nature fund’, is focused on creating affordable cleaning and laundry products that deliver superior cleaning results with a significantly lower environmental impact.
Clean Future already supports industry-leading projects around the world to transform how the chemicals in Unilever’s cleaning and laundry products are made. In Slovakia for instance, Unilever is partnering with biotechnology leader Evonik Industries to develop the production of rhamnolipids, a renewable and biodegradable surfactant which is already used in its Sunlight dishwashing liquid in Chile and Vietnam. In Tuticorin in Southern India, Unilever is sourcing soda ash – an ingredient in laundry powders – made using a pioneering CO2 capture technology. The soda ash is made with the CO2 emissions from the energy used in the production process. Both technologies are hoped to be scaled significantly under the programme.
The Carbon Rainbow
Central to Clean Future is Unilever’s ‘Carbon Rainbow’, a novel approach to diversify the carbon used in its product formulations. Non-renewable, fossil sources of carbon (identified in the Carbon Rainbow as black carbon) will be replaced using captured CO2 (purple carbon), plants and biological sources (green carbon), marine sources such as algae (blue carbon), and carbon recovered from waste materials (grey carbon). The sourcing of carbon under the Carbon Rainbow will be governed and informed by environmental impact assessments and work with Unilever’s industry-leading sustainable sourcing programmes to prevent unintended pressures on land-use.
Tanya Steele, Chief Executive of WWF UK says: “The world must shift away from fossil fuels towards renewable resources that reduce pressure on our fragile ecosystems and that help to restore nature. These significant commitments from Unilever, combined with strong sustainable sourcing, have real potential to make an important contribution as we transition to an economy that works with nature, not against it.”
Joey Bergstein, CEO of Seventh Generation says: “We are incredibly proud of Unilever’s “Clean Future” ambition to end its reliance on fossil fuels in the creation of home cleaning products. Since our acquisition by Unilever in 2016, we have learned from each other. Seventh Generation has long pioneered using the power of plants to create effective products while also raising bar in sustainable packaging in the US. It’s inspiring to see the scale of the positive impact that will come from Unilever’s bold commitment internationally across their entire home care portfolio on these dimensions.”
Peter ter Kulve, Unilever’s President of Home Care concludes: “A new bioeconomy is rising from the ashes of fossil fuels.
“We’ve heard time and time again that people want more affordable sustainable products that are just as good as conventional ones. Rapid developments in science and technology are allowing us to do this, with the promise of exciting new benefits for the people who use our products, from ultra-mild cleaning ingredients to self-cleaning clothes and surfaces.
“Diversifying sources of carbon is essential to grow within the limits of our planet. Our suppliers and innovation partners play a critical role through this transition. By sharing our Carbon Rainbow model, we are calling on an economy-wide transformation in how we all use carbon.”
ENDS
How people, businesses, and partners can help deliver a Clean Future
Unilever’s existing sustainability commitments
Today’s ambition to replace 100% of the carbon derived from fossil fuels in Unilever’s Home Care formulations with renewable or recycled carbon by 2030, builds on Unilever’s existing environmental commitments, including:
Renewable and recycled carbon
Renewable and recycled carbon entails all carbon sources that replace the use of fossil carbon from the geosphere. Renewable carbon can come from the biosphere and atmosphere. Recycled carbon comes from the technosphere. Renewable and recycled carbon circulates between biosphere, atmosphere and technosphere, creating a circular carbon economy.
The Carbon Rainbow in practice
The Clean Future programme is already funding Research & Development into projects such as:
About Seventh Generation
Seventh Generation, a cleaning brand acquired by Unilever in 2016, has pioneered the use of plant-based cleaning technology for more than thirty years in the US.
About Unilever
Unilever is one of the world’s leading suppliers of Beauty & Personal Care, Home Care, and Foods & Refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. It has 150,000 employees and generated sales of €52 billion in 2019. Over half of the company’s footprint is in developing and emerging markets. Unilever has around 400 brands found in homes all over the world, including Dove, Knorr, Dirt Is Good, Rexona, Hellmann’s, Lipton, Wall’s, Lux, Magnum, Axe, Sunsilk and Surf.
Unilever’s Sustainable Living Plan (USLP) underpins the company’s strategy and commits to:
The USLP creates value by driving growth and trust, eliminating costs and reducing risks. The company’s sustainable living brands delivered 78% of total growth and 75% of turnover in 2019.
Since 2010 we have been taking action through the Unilever Sustainable Living Plan to help more than a billion people improve their health and well-being, halve our environmental footprint and enhance the livelihoods of millions of people as we grow our business. We have made significant progress and continue to expand our ambition – in 2019 committing to ensure 100% of our plastic packaging is fully reusable, recyclable or compostable by 2025. While there is still more to do, we are proud to have been recognised in 2019 as sector leader in the Dow Jones Sustainability Index and in 2020 - for the tenth-consecutive year - as the top ranked company in the GlobeScan/SustainAbility Sustainability Leaders survey.
For more information about Unilever and its brands, please visit www.unilever.com.
For more information on the USLP: www.unilever.com/sustainable-living/
Steve Alessandrini
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With DER penetration growing globally, IEEE intends to help utilities and other industry partners build a qualified workforce for the future
PISCATAWAY, N.J.--(BUSINESS WIRE)--#DER--IEEE, the world's largest technical professional organization dedicated to advancing technology for the benefit of humanity, and the IEEE Standards Association (IEEE SA) today announced the IEEE Std 1547™-2018 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program.
IEEE collaborated with Baltimore Gas and Electric Company (BGE), Commonwealth Edison (ComEd), Dominion Energy, Duke Energy and Orange and Rockland Utilities (O&R), and will be creating a program to identify, train and certify individuals for the commissioning of any installed DER interconnection (e.g., residential, utility-scale, microgrid, etc.). The goal is to enhance compliance with IEEE 1547 - IEEE Standard for Interconnection and Interoperability of Distributed Energy Resources with Associated Electric Power Systems and local jurisdictional requirements. Additionally, the program seeks to standardize the process by which the interconnections of renewables and other DERs are assessed.
To achieve a more sustainable and reliable power system, utilities need to safely and securely interconnect more DER with the electricity grid. This commonly includes both residential and commercial solar, wind, battery and combined heat and power (CHP). The IEEE 1547 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program is intended to benefit stakeholders across the DER interconnection process. The program, when it is launched, will provide utilities and DER vendors a larger number of credentialed experts who can be leveraged for their periodic commissioning tasks. This could prove especially helpful with the growing number of residential sites now providing grid support. Due to a lack of such resources, interconnections are sometimes approved only on the basis of an application review with no on-site visit. Proper assessment of utility-scale DER interconnections and microgrids by a credentialed person would accelerate progress toward a more resilient and environmentally sound grid.
Regulators could leverage the new IEEE program in verifying that new interconnection rules are followed and implemented, especially where IEEE 1547 is adopted through rulemaking. And a streamlined, standards-based process for interconnecting renewables and other DERs could reduce the cost and complexity of implementations and significantly reduce miscommunication and misunderstanding of requirements among utilities, developers, and owners.
BGE, ComEd, Dominion Energy, Duke Energy and O&R are helping fund, shape and promote the IEEE 1547 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program. The recently revised IEEE 1547.1™-2020 - IEEE Standard Conformance Test Procedures for Equipment Interconnecting Distributed Energy Resources with Electric Power Systems and Associated Interfaces will play a major role in the development of this program.
“Commissioning DER interconnections is an increasingly crucial gap in our industry,” said Joseph Woomer, VP Grid and Technical Solutions with Dominion Energy. “We are excited to work with IEEE and the other partners in creating a program that will satisfy the industry need for a qualified workforce that is available in the years ahead to support ongoing growth of renewables and other DERs around the world.”
Added Wesley O. Davis, Director, DER Technical Standards, Enterprise Strategy & Planning with Duke Energy Corporation: "Working with the IEEE Standards Association and the other utilities signed on to this effort is an important step to standardizing a safe and reliable approach to integrating more distributed resources on the system. This effort will also play a key role towards helping Duke achieve its Net-Zero Carbon goals by 2050."
Adoption of DERs and interest in highly resilient microgrid configurations are growing globally, creating new challenges across the industry. DER vendors must implement new features and capabilities at scale. Utilities must review more DER-interconnection application submissions, with new technologies and capabilities to be considered and understood. Regulators must sometimes update interconnection rules and define how DER interconnections are monitored.
The IEEE 1547 standard informs critical utility engineering and business practices for DERs in markets worldwide. The IEEE 1547-2018 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program is being developed to deliver educational content and requirements around DER interconnection, documentation for a standardized IEEE 1547 commissioning process and an initial pool of credentialed IEEE 1547 commissioning agents.
Utilities and other industry stakeholders interested in partnering in the creation of the program are encouraged to visit IEEE Std 1547-2018 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program to learn more and apply to become a partner.
To learn more about IEEE SA or about any of its many market-driven initiatives, visit us on Facebook, follow us on Twitter, connect with us on LinkedIn, or on the Beyond Standards Blog.
About the IEEE Standards Association
IEEE Standards Association (IEEE SA) is a collaborative organization where innovators raise the world's standards for technology. IEEE SA provides a globally open, consensus-building environment and platform that empowers people to work together in the development of leading-edge, market-relevant technology standards, and industry solutions shaping a better, safer and sustainable world. For more information, visit the IEEE SA Website.
About IEEE
IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice in a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at the IEEE Website.
Tania Olabi-Colon, Director Marketing Communications
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Olivia Wang, Associate Marketing Communications Manager
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Global Service coverage now extends to over 60 countries.
SINGAPORE--(BUSINESS WIRE)--Today, Blue Wireless announced a major step in enabling Wireless WAN Solutions for global enterprises with the release of its new high speed 5G portfolio and expansion into the Americas region.
Blue Wireless supports global businesses with Wireless WAN solutions for branches, retail outlets and remote sites offering more flexibility and lower operating cost compared with wired internet access. Global coverage extends now to over 60 countries, offering multiple LTE/5G networks per country, with clear Service Levels (SLAs) for delivery, speed and uptime.
What sets Blue Wireless apart is its global service model where Cradlepoint equipment, Local Data, Field Service and Management is combined in a consistent service across all countries.
The new portfolio offers following advancements:
Ivan Landen, CEO, comments: “We see a clear acceleration in the adoption of Wireless WAN, especially amongst business in retail segments and those with many branches, where remote site connectivity is essential. With this expansion we continue our lead in the industry offering a more flexible cost-effective alternative to wired lines.
Joop Gerlach, COO, adds “We’re proud to deliver the first real working 5G WAN service, where we combine the technology from Cradlepoint with our expertise of local networks and field services. Where others talk about it, we implement it, allowing businesses to replace slow broadband lines and offering an alternative for expensive dedicated access lines.”
The new services are available from today via www.bluewireless.com
About Blue Wireless
Blue Wireless is a new generation Wireless Network Service Provider serving enterprises with LTE/5G based wireless solutions, enabling reliable and flexible connectivity for branches, retail sites, remote locations, and the maritime sector in over 60 countries globally. Headquartered in Singapore, with local offices in Sydney, Kuala Lumpur and Netherlands, Blue Wireless is transforming the way Wireless WAN is used by Enterprises. Blue Wireless is a Cradlepoint Elite Partner and sole distributor for Cradlepoint in Asia through its subsidiary Go Wireless.
Media:
Era Agust
+65 6910 6250
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HOUSTON--(BUSINESS WIRE)--Air Liquide announces a long-term supply agreement with Eastman Chemical Company to provide additional gaseous oxygen, nitrogen and syngas supporting Eastman’s growth and production in Longview, Texas. Air Liquide will invest more than 160 million U.S. dollars to modernize existing assets and build a new Air Separation Unit (ASU) and Partial Oxidation Unit (POX).
With this agreement and additional production capacity of the new ASU and POX, Air Liquide will supply Eastman gaseous oxygen and nitrogen, as well as syngas. The new ASU and POX will begin production in late 2021 and will be integrated into the existing facilities.
The new POX will use the company’s patented Lurgi technology and will capture and recycle CO2, reducing the carbon intensity of operations, in line with the Group’s 2025 Climate Objectives.
“This project and supply agreement reflect Eastman’s focus to invest in growth opportunities through strategic partnerships to create positive economic and environmental benefits,” said Mark Costa, Eastman’s Chairman and Chief Executive Officer. “Eastman has deep roots in the greater Longview area and remains one of the area’s largest employers after 70 years of operation in Harrison County. We are committed to our community and appreciate the continued support of community leaders, our dedicated employees, and our operating partners.”
Michael J. Graff, Executive Vice President and Executive Committee Member, Air Liquide Group, said: “Air Liquide is pleased to further its longstanding relationship with Eastman with another significant investment at its Longview site in east Texas, the world’s single largest production facility of its type, and to further demonstrate Air Liquide’s ongoing commitment to deliver innovative technologies and safe, reliable and sustainable solutions for industry.”
Air Liquide Large Industries activity
Air Liquide Large Industries offers gas and energy solutions that improve process efficiency and help achieve greater respect for the environment, mainly in the refining and natural gas, chemicals, metals and energy markets. In 2019, revenues were €5,629 million.
Air Liquide in the United States
Air Liquide employs more than 20,000 people in the U.S. in more than 1,300 locations and plant facilities including a world-class R&D center. The company offers industrial and medical gases, technologies and related services to a wide range of customers in energy, petrochemical, industrial, electronics and healthcare markets. www.airliquide.com/USA
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 67,000 employees and serves more than 3.7 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.
Air Liquide’s revenue amounted to 22 billion euros in 2019 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.
www.airliquide.com
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Corporate Communications
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Investor Relations
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Air Liquide Corporate Communications, Americas
Cassandra Mauel
+713 548-6056
LEAWOOD, KS--(BUSINESS WIRE)--Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP, TPZ and TEAF.
Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of August 31, 2020, the company’s unaudited total assets were approximately $451.6 million and its unaudited net asset value was $294.5 million, or $22.52 per share.
As of August 31, 2020, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 452 percent, and its coverage ratio for preferred shares was 335 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at August 31, 2020.
Unaudited preliminary balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$366.1 |
$28.00 |
|
Cash and Cash Equivalents |
30.8 |
2.36 |
|
Income Tax Receivable |
52.1 |
3.98 |
|
Other Assets |
2.6 |
0.19 |
|
Total Assets |
451.6 |
34.53 |
|
Senior Notes |
92.8 |
7.09 |
|
Preferred Stock |
32.3 |
2.47 |
|
Total Leverage |
125.1 |
9.56 |
|
Other Liabilities |
2.5 |
0.19 |
|
Current Tax Liability |
29.5 |
2.26 |
|
Net Assets |
$ 294.5 |
$ 22.52 |
13.08 million common shares currently outstanding.
During the month, TYG paid $2,927,094 to repurchase 168,873 shares of its common stock at an average price of $17.333 and an average discount to NAV of 26.5%.
Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today announced that as of August 31, 2020, the company’s unaudited total assets were approximately $213.1 million and its unaudited net asset value was $141.4 million, or $22.75 per share.
As of August 31, 2020, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 503 percent, and its coverage ratio for preferred shares was 378 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at August 31, 2020.
Unaudited preliminary balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$203.4 |
$ 32.72 |
|
Cash and Cash Equivalents |
8.4 |
1.35 |
|
Other Assets |
1.3 |
0.22 |
|
Total Assets |
213.1 |
34.29 |
|
|
|
|
|
Senior Notes |
38.2 |
6.15 |
|
Preferred Stock |
12.7 |
2.04 |
|
Total Leverage |
50.9 |
8.19 |
|
|
|
|
|
Other Liabilities |
1.4 |
0.22 |
|
Current Tax Liability |
19.4 |
3.13 |
|
Net Assets |
$ 141.4 |
$ 22.75 |
6.22 million common shares currently outstanding.
During the month, NTG paid $1,306,391 to repurchase 72,742 shares of its common stock at an average price of $17.959 and an average discount to NAV of 24.6%.
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of August 31, 2020, the company’s unaudited total assets were approximately $71.7 million and its unaudited net asset value was $46.7 million, or $18.87 per share.
As of August 31, 2020, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 387 percent, and its coverage ratio for preferred shares was 290 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at August 31, 2020.
Unaudited preliminary balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$63.8 |
$ 25.79 |
|
Cash and Cash Equivalents |
7.5 |
3.05 |
|
Other Assets |
0.4 |
0.16 |
|
Total Assets |
71.7 |
29.00 |
|
|
|
|
|
Senior Notes |
18.4 |
7.44 |
|
Preferred Stock |
6.1 |
2.47 |
|
Total Leverage |
24.5 |
9.91 |
|
|
|
|
|
Other Liabilities |
0.5 |
0.22 |
|
Net Assets |
$46.7 |
$ 18.87 |
2.47 million common shares currently outstanding.
During the month, TTP paid $290,994 to repurchase 19,998 shares of its common stock at an average price of $14.551 and an average discount to NAV of 26.1%.
Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today announced that as of August 31, 2020, the company’s unaudited total assets were approximately $33.8 million and its unaudited net asset value was $29.1 million, or $15.78 per share.
As of August 31, 2020, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 762 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at August 31, 2020.
Unaudited preliminary balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 33.5 |
$ 18.13 |
|
Cash and Cash Equivalents |
0.1 |
0.07 |
|
Other Assets |
0.2 |
0.09 |
|
Total Assets |
33.8 |
18.29 |
|
Credit Facility Borrowings |
4.4 |
2.38 |
|
Other Liabilities |
0.3 |
0.13 |
|
Net Assets |
$ 29.1 |
$ 15.78 |
1.85 million common shares currently outstanding.
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of August 31, 2020, the company’s unaudited total assets were approximately $111.8 million and its unaudited net asset value was $85.2 million, or $12.26 per share.
As of August 31, 2020, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 427 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at August 31, 2020.
Unaudited preliminary balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$ 110.6 |
$ 15.91 |
|
Cash and Cash Equivalents |
0.2 |
0.03 |
|
Other Assets |
1.0 |
0.15 |
|
Total Assets |
111.8 |
16.09 |
|
|
|
|
|
Credit Facility Borrowings |
26.1 |
3.75 |
|
|
|
|
|
Other Liabilities |
0.5 |
0.08 |
|
Net Assets |
$ 85.2 |
$ 12.26 |
6.95 million common shares currently outstanding.
Tortoise Essential Assets Income Term Fund (NYSE: TEAF) today announced that as of August 31, 2020, the company’s unaudited total assets were approximately $237.7 million and its unaudited net asset value was $206.3 million, or $15.29 per share.
As of August 31, 2020, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 776 percent. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at August 31, 2020.
Unaudited preliminary balance sheet
|
(in Millions) |
Per Share |
|
Investments |
$231.5 |
$17.16 |
|
Cash and Cash Equivalents |
3.1 |
0.23 |
|
Other Assets |
3.1 |
0.23 |
|
Total Assets |
237.7 |
17.62 |
|
|
|
|
|
Credit Facility Borrowings |
30.5 |
2.26 |
|
|
|
|
|
Other Liabilities |
0.9 |
0.07 |
|
Net Assets |
$206.3 |
$15.29 |
13.49 million common shares outstanding.
The top 10 holdings for TYG, NTG, TTP, NDP, TPZ and TEAF as of the most recent month-end can be found on each fund’s portfolio web page at https://cef.tortoiseadvisors.com.
About Tortoise
Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. For additional information, please visit tortoiseadvisors.com.
Tortoise Capital Advisors, L.L.C. is the Adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., Tortoise Power and Energy Infrastructure Fund, Inc. and Tortoise Essential Assets Income Term Fund. Ecofin Advisors Limited is a sub-adviser to Tortoise Essential Assets Income Term Fund.
For additional information on these funds, please visit cef.tortoiseadvisors.com.
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.
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.
Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--#GlobalWellCasingandCementingMarket--Technavio has been monitoring the well casing and cementing market and it is poised to grow by USD 3.19 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
Baker Hughes, a GE Co. LLC, China Oilfield Services Ltd., Frank's International NV, Halliburton Co., Nabors Industries Ltd., PAO TMK, Schlumberger Ltd., Tenaris SA, Vallourec SA, and Weatherford International Plc., are some of the major market participants.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Baker Hughes, a GE Co. LLC, China Oilfield Services Ltd., Frank's International NV, Halliburton Co., Nabors Industries Ltd., PAO TMK, Schlumberger Ltd., Tenaris SA, Vallourec SA, and Weatherford International Plc. are some of the major market participants. The focus on unconventional oil and gas E&P activities will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Well Casing and Cementing Market 2020-2024: Segmentation
Well Casing and Cementing Market is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40153
Well Casing and Cementing Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The well casing and cementing market report covers the following areas:
This study identifies technological advances in cementing as one of the prime reasons driving the well casing and cementing market growth during the next few years.
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.
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Well Casing and Cementing Market 2020-2024: Key Highlights
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
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
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Media & Marketing Executive
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Website: www.technavio.com/
LAUSANNE, Switzerland--(BUSINESS WIRE)--Akselos SA (Akselos) has announced the successful deployment of a structural Digital Twin for Shell’s Bonga Main FPSO, located 120km Southwest of the Niger Delta in Nigeria.
The Digital Twin is a physics-based model of the asset, which represents its entire physical counterpart in absolute detail and accuracy. The model is updated with loading conditions and inspection data on a regular basis, providing the ability to carry out structural assessments based on the ‘as is’ condition, from anywhere and at any time.
The structural Digital Twin, which is based on Akselos’ patented RB-FEA technology, was selected by Shell Nigeria Exploration and Production Company (SNEPCo), Shell’s deepwater company in Nigeria and operator of the 225,000 oil barrel capacity FPSO, because of its unique ability to realise a number of operational objectives. These include the identification of critical areas for prioritised inspection, maintenance and repair; a reduction in personnel on board the asset; reduced necessity for physical inspections in hard-to-reach areas such as cargo tanks; and to support scenario planning for extreme weather events and asset modification.
The deployment of the breakthrough simulation technology will also enable safe asset life extension by replacing the over-conservative estimates made with conventional simulation software, with accurate assessments that reflect actual remaining fatigue life.
Elohor Aiboni, Asset Manager for Bonga, said “The Bonga Main FPSO heralded a number of innovative ‘firsts’ when it was built back in 2004, so it’s fitting that it’s the first asset of its kind to deploy something as advanced as a structural Digital Twin. We are very excited about the new capabilities that Akselos brings and believe it will create a positive impact on the way we manage structural integrity. It is also a great example of digitalisation coming to life.”
The Bonga Main FPSO, which became operational in 2004, has a capacity of 225,000 barrels per day and weighs over 300,000 tonnes, making it the largest asset in the world to be protected by a structural Digital Twin.
Dr David Knezevic, CTO and Co-Founder of Akselos said: “We are very proud to have reached this important milestone, which represents many months of complex engineering work between SNEPCo and Akselos. To have the opportunity to deploy our breakthrough technology on a 300,000 tonne asset is the kind of technical challenge that Akselos was founded to solve. I’d like to thank the SNEPCo team and the wider team within Shell for sharing our vision and for their commitment to digital transformation.”
Shell has been working with Akselos since its technology scouts were introduced to the company as a start-up, as part of the MIT Industrial Liaison programme in 2015. Since then, the integrated energy company has supported Akselos’ technology deployment on many of its assets and become a minority shareholder through its venture capital arm Shell Ventures. The partnership has played an important role in Akselos’ development to become an international scale-up operating across the energy sector.
About Akselos:
Akselos is the creator of the world's most advanced engineering simulation technology - physics-based, real-time digital twins. Founded in 2012 and with operations in Europe, the USA, and South East Asia, the company’s products are designed specifically to help design and protect the world’s critical infrastructure. Using patented algorithms developed through 15 years of research at MIT, Akselos’ technology is bringing a powerful new innovation curve to mechanical engineering, helping the energy sector optimize design and operations and increase asset sustainability. Akselos was named as a Technology Pioneer in 2020 by the World Economic Forum.
David Adelman
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+44 7870 484649
Approximate $3.0 Billion Reduction in Funded Debt; Trading of New Common Stock to Commence on NYSE under Ticker “WLL” on September 2, 2020
DENVER--(BUSINESS WIRE)--Whiting Petroleum Corporation (NYSE: WLL) (“Whiting” or the “Company”) today announced that it has successfully completed its financial restructuring and emerged from Chapter 11 protection. Whiting officially concluded its reorganization after completing all required actions and satisfying the remaining conditions to its Plan of Reorganization (the “Plan”).
“We are excited to begin our new chapter at Whiting, with a focus on capital discipline and free cash flow generation to create long-term value for our shareholders,” said Lynn Peterson, Chief Executive Officer of Whiting. “On behalf of the Company and newly appointed Board of Directors, I would like to thank our employees for their patience and dedication during this process.”
New Capital Structure Summary
Whiting’s new capital structure includes a new $750 million reserve based revolving credit facility (“New RBL Facility”) maturing in April 2024. Whiting’s unsecured claims, including holders of Whiting’s senior unsecured notes, received their proportionate distribution of 97% of Whiting’s newly issued common stock (subject to dilution). A summary of Whiting’s new capital structure is presented below:
Unrestricted Cash
New RBL Facility
New Common Equity
Warrants
Pro Forma Capital Structure Details
In accordance with the Plan, approximately $2.4 billion in pre-petition senior unsecured notes have been equitized. Pro forma for the reduced RBL facility balance, the restructuring resulted in a reduction of approximately $3.0 billion of debt. Details of the Company’s pro forma capital structure and liquidity are outlined here below:
|
|||||||||
|
|||||||||
Pro Forma Capital Structure after Emergence |
$ Millions |
|
|||||||
|
|||||||||
|
|
|
|
||||||
Debt at Principal Value |
as of Mar 31, 2020 |
Restructuring |
Pro Forma
|
|
|||||
|
|||||||||
RBL Facility: |
|
||||||||
Old RBL Facility |
$1,070 |
($1,070) |
$- |
|
|||||
New RBL Facility |
- |
425 |
425 |
|
|||||
Sub-Total RBL Facility |
$1,070 |
($645) |
$425 |
|
|||||
|
|
|
|
|
|||||
Senior Unsecured Notes: |
|
||||||||
1.250% Convertible Senior Notes due 2020 |
$187 |
($187) |
$- |
|
|||||
5.750% Senior Notes due 2021 |
774 |
(774) |
- |
|
|||||
6.250% Senior Notes due 2023 |
408 |
(408) |
- |
|
|||||
6.625% Senior Notes due 2026 |
1,000 |
(1,000) |
- |
|
|||||
Sub-Total Senior Unsecured Notes |
$2,368 |
($2,368) |
$- |
|
|||||
Total Debt1 |
$3,438 |
($3,013) |
$425 |
|
|||||
|
|||||||||
|
|
|
|
|
|||||
Liquidity |
|
||||||||
RBL Borrowing Base |
$1,7502 |
($1,000) |
$750 |
|
|||||
(-) RBL Drawn |
(1,070) |
645 |
(425) |
|
|||||
(-) L/Cs Outstanding |
(2) |
- |
(2) |
|
|||||
(+) Cash |
566 |
(553) |
133 |
|
|||||
Total Liquidity |
$1,244 |
($909) |
$336 |
|
|||||
1Total debt figure excludes capital lease obligations and outstanding letters of credit. 2RBL Borrowing Base of $2,050 million with aggregate commitments of $1,750 million. 3Cash balance net of near-term working capital payments. |
|
||||||||
New Leadership and Board of Directors
As previously announced, Lynn Peterson has assumed the role of Chief Executive Officer effective today. Additionally, James Henderson has assumed the role of Chief Financial Officer effective today. Mr. Henderson succeeds Correne S. Loeffler, who has resigned to pursue other interests following the Company’s restructuring. Chip Rimer will continue to serve as Whiting’s Chief Operating Officer.
Mr. Henderson most recently served as Chief Financial Officer of SRC Energy, Inc. before its combination with PDC Energy, Inc. Prior to SRC Energy, Mr. Henderson was Chief Financial Officer of Kodiak Oil & Gas Corporation (“Kodiak”) before its combination with Whiting. Prior to Kodiak, he served as the Director of Finance for Aspect Holdings and the Director of Accounting Services at Anadarko Petroleum Corporation.
Pursuant to the Plan, Whiting has appointed a new Board of Directors effective today. The new Board of Directors consists of seven members including: Kevin McCarthy (Chairman), Lynn Peterson (CEO), Janet L. Carrig, Susan Cunningham, Paul Korus, Daniel Rice and Anne Taylor.
Listing on the NYSE
In connection with emergence from Chapter 11, all of the Company’s existing equity interests will be cancelled and will cease to exist, effective before the market opens on September 2, 2020. Shares of the Company’s new common stock will commence trading on the New York Stock Exchange under the ticker symbol “WLL,” on September 2, 2020.
Details of the restructuring, the securities issued pursuant to the Plan and the debt and other agreements entered into as part of the Plan will be provided in a Form 8-K which can be viewed on the Company’s website or the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.
Moelis & Company acted as financial advisor for the Company, Kirkland & Ellis acted as legal advisor, Alvarez & Marsal acted as restructuring advisor and Jeffrey S. Stein of Stein Advisors LLC acted as the Company’s Chief Restructuring Officer.
PJT Partners acted as financial advisor for the Ad Hoc Committee of Noteholders and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP acted as legal advisors.
Court filings and other documents related to the restructuring are available on a separate website administered by the Company’s claims agent, Stretto, at cases.stretto.com/whitingpetroleum. For inquiries regarding the Company’s emergence, please call the hotline established by Stretto at (800) 330-2531 (toll-free domestic).
About Whiting Petroleum Corporation
Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that develops, produces, acquires and explores for crude oil, natural gas and natural gas liquids primarily in the Rocky Mountain region of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and Niobrara play in northeast Colorado. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit http://www.whiting.com.
Forward-Looking Statements
This news release contains statements that we believe to be “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 historical facts, including, without limitation, statements regarding our future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.
These risks and uncertainties include, but are not limited to: the effects of the Chapter 11 petitions (the “Chapter 11 Cases”) on the Company’s liquidity or results of operation or business prospects; the effects of the Chapter 11 Cases on the Company’s business and the interests of various constituents; declines in, or extended periods of low oil, NGL or natural gas prices; the Company’s level of success in exploration, development and production activities; the Company’s ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; the Company’s ability to obtain external capital to finance exploration and development operations; the Company’s inability to access oil and gas markets due to market conditions or operational impediments, including any court rulings which may result in the inability to transport oil on the Dakota Access Pipeline; the impact of negative shifts in investor sentiment towards the oil and gas industry; impacts resulting from the allocation of resources among the Company’s strategic opportunities; the geographic concentration of the Company’s operations; impacts to financial statements as a result of impairment write-downs and other cash and noncash charges; federal and state initiatives relating to the regulation of hydraulic fracturing and air emissions; revisions to reserve estimates as a result of changes in commodity prices, regulation and other factors; inaccuracies of the Company’s reserve estimates or assumptions underlying them; the timing of the Company’s exploration and development expenditures; risks relating to decreases in the Company’s credit rating; market availability of, and risks associated with, transport of oil and gas; the Company’s ability to successfully complete asset dispositions and the risks related thereto; the Company’s ability to drill producing wells on undeveloped acreage prior to its lease expiration; shortages of or delays in obtaining qualified personnel or equipment, including drilling rigs and completion services; weakened differentials impacting the price we receive for oil and natural gas; risks relating to any unforeseen liabilities of ours; the impacts of hedging on the Company’s results of operations; adverse weather conditions that may negatively impact development or production activities; uninsured or underinsured losses resulting from the Company’s oil and gas operations; lack of control over non-operated properties; failure of the Company’s properties to yield oil or gas in commercially viable quantities; the impact and costs of compliance with laws and regulations governing the Company’s oil and gas operations; the potential impact of changes in laws that could have a negative effect on the oil and gas industry; impacts of local regulations, climate change issues, negative public perception of the Company’s industry and corporate governance standards; the Company’s ability to replace its oil and natural gas reserves; negative impacts from litigation and legal proceedings; risks related to the Company’s level of indebtedness, the Company’s ability to comply with debt covenants, periodic redeterminations of the borrowing base under the Company’s credit agreement and the Company’s ability to generate sufficient cash flows from operations to service its indebtedness; unforeseen underperformance of or liabilities associated with acquired properties or other strategic partnerships or investments; competition in the oil and gas industry; any loss of the Company’s senior management or technical personnel; cybersecurity attacks or failures of the Company’s telecommunication and other information technology infrastructure; and other risks described under the caption “Risk Factors” in Item 1A of the Company’s Annual Report on Form 10-K for the period ended December 31, 2019 and subsequent filings with the SEC. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release.
Brandon Day
Investor Relations Manager
303.390.4969
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Electrolyzers, solid oxide electrolysis cells, and biomass gasifiers are expected to play a key role as emphasis for decarbonization and renewables integration increases
BOULDER, Colo.--(BUSINESS WIRE)--#Biomass--A new report from Guidehouse Insights analyzes the global market for emerging hydrogen production technologies, providing forecasts for capacity and revenue through 2029.
There has been much discussion over the past several years of how hydrogen can aid the energy transition. Four emerging technologies—alkaline electrolyzers (AES), proton exchange membrane (PEM) electrolyzers, solid oxide electrolysis cells (SOECs), and biomass gasifiers—are expected to move the market forward as decarbonization becomes increasingly important and costs for green hydrogen (or hydrogen produced with no emissions) decline. Click to tweet: According to a new report from @WeAreGHInsights, the global capacity for emerging hydrogen production technologies is expected to reach approximately 1 GW annually by 2029, representing a compound annual growth rate (CAGR) of 20.2%.
“As countries and economies develop plans for decarbonization, hydrogen is being recognized as a potential tool for a variety of reasons,” says Shayne Willette, research analyst with Guidehouse Insights. “Currently, only 1%-4% of hydrogen is produced with clean production technologies, but with greater emphasis on decarbonization, increasing renewables integration, and decreasing capital costs, emerging clean hydrogen production technologies are poised to play a key role going forward.”
According to the report, AES, PEM, and SOECs can use renewable electricity to produce green hydrogen, while biomass gasifiers can use otherwise carbon-emitting feedstocks such as municipal solid waste (MSW) to achieve the same result. Although most hydrogen is used in the industrial sector, significant demand growth is expected in the mobility sector due to expansion in the fuel cell vehicle (FCV) market as well as in hydrogen storage.
The report, Emerging Hydrogen Production Technologies, analyzes the global market for these emerging hydrogen production technologies based on geographic region and the different technologies. The study provides an analysis of current market issues, opportunities, drivers, and barriers for these emerging hydrogen production technologies. Global market forecasts for capacity and revenue extend through 2029. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Emerging Hydrogen Production Technologies, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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Located on Stockton University’s Campus on the Main Boardwalk, the Center Will Serve as a Hub to Inform the Local Public, School Groups on Science Behind Offshore Wind, Company’s Development Plans and the Offshore Wind Industry
ATLANTIC CITY, N.J.--(BUSINESS WIRE)--On Monday, Atlantic Shores Offshore Wind (Atlantic Shores) hosted Atlantic City Mayor Marty Small, Sr., President Joseph Fiordaliso and Commissioner Upendra Chivukula of the New Jersey Board of Public Utilities, and other local stakeholders at a ribbon cutting to signify the opening of their new Educational and Community Outreach (ECO) Center.
The facility on Stockton University’s campus in Atlantic City will serve as Atlantic Shores’ primary location to host informational events for the community. Atlantic Shores plans to partner with Stockton University to make the ECO Center available to local school groups or as a resource center for university students.
“We anticipate to listen and meet with stakeholders at this location, because we know it’s important for the Atlantic City community to have access to us right where they live,” said Jennifer Daniels, Development Director at Atlantic Shores. “We are thrilled to have a meeting place in the heart of the very community Atlantic Shores hopes to serve with renewable, affordable offshore wind energy.”
The Educational and Community Outreach Center features two conference rooms that can be used to host community meetings, and an additional open concept space for larger events and public presentations. The ECO Center will function primarily as a dynamic public exhibition space and multi-purpose community room to host local stakeholders and communicate Atlantic Shores’ priorities and goals through exhibits, photos and interactive models. In addition to being an exhibit and conference facility, the ECO Center will also provide several “hoteling” offices with computers, printers and office support, a small, more intimate conference area for Atlantic Shores employees.
“We are very excited at Stockton University to welcome this collaboration,” said Brian Jackson, Chief Operating Officer at Stockton University. “This new center will be a place where our students and faculty can engage in research and internship opportunities, and will also create an opportunity for our local community to gain employment. People are going to want to come to this space to learn about offshore wind.”
In addition to Mayor Small and leaders from the New Jersey Board of Public Utilities, attendees at the ribbon cutting included Michael Chait, President of Atlantic City Chamber of Commerce, and Max Slusher, Director of Business Development for Atlantic County Economic Alliance.
“I’m excited about anything that advances offshore wind and our new clean economy,” said New Jersey Board of Public Utilities President Joseph Fiordaliso. “Thank you to Atlantic Shores and Stockton University for their work ensuring the green economy is here to stay in New Jersey. We have to educate people, and ensure the fact that everyone is involved in the clean energy revolution here in the state of New Jersey.”
This summer, Atlantic Shores completed its geophysical and geotechnical ocean surveying, including the mapping of potential export cable routes that would bring its generated electricity on land. The developer is currently exploring wind conditions within its lease area and will conduct additional environmental studies this summer and fall.
About Atlantic Shores Offshore Wind, LLC:
Atlantic Shores Offshore Wind, LLC (Atlantic Shores) is a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America. The joint venture formed in December 2018 to co-develop a 183,353 acre lease area located approximately 10-20 miles off the New Jersey coast between Atlantic City and Barnegat Light. Atlantic Shores is strategically positioned to meet the growing demands of renewable energy targets in New York, New Jersey and beyond, with strong and steady wind resources close to large population centers with associated electricity demand. Atlantic Shores, once fully developed, has the potential to generate 2,500 MW of clean, renewable wind energy – enough to power nearly one million homes. The capital and expertise needed to develop such a large area is significant. Together, Shell and EDF Renewables have the investment capability and industry experience to bring this project to scale safely, efficiently and cost effectively. For more info, go to www.atlanticshoreswind.com.
Erin Dennis, This email address is being protected from spambots. You need JavaScript enabled to view it., 607-259-0607
-- New deployments in Northern Virginia and Denver to support the agency’s IT transformation initiatives --
BOSTON--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, today announced that a large U.S. Federal government civilian agency that is at the forefront of the nation's technological progress and achievement, is expanding its existing footprint to Iron Mountain data centers in Manassas, Virginia and Denver, Colorado. Iron Mountain is providing a colocation data center solution in support of the agency’s IT transformation initiatives.
The solution includes migrating the agency from their current proprietary, on-premise data center, into a 4 megawatt space in Iron Mountain’s new Northern Virginia data center, VA-2. In addition, Iron Mountain will facilitate the transition of the agency’s current 1.5 megawatt disaster recovery facility, which is located in Iron Mountain’s Boyers, Pennsylvania data center, into an expanded disaster recovery space in Denver, DEN-1, with an incremental 1 megawatt of power capacity. The lease is expected to commence in the second quarter of 2021.
“We are pleased to have this Federal agency join our robust ecosystems in both Northern Virginia and Denver, as we support their digital transformation strategy,” said Rick Crutchley, Vice President and General Manager, North America at Iron Mountain Data Centers. “The agency’s decision to expand with Iron Mountain underscores their trust in our value proposition for providing secure and quickly scalable data center solutions, with industry-leading compliance.”
Iron Mountain’s Northern Virginia data center campus is an 83-acre site in Manassas, situated in the heart of the world’s largest and fastest-growing data center market, offering low latency and easy access to network / peering interconnection sites in Ashburn and Reston. VA-1, opened in September 2017 is a 12.4 megawatt facility that is fully leased, with carrier-neutral connectivity and easy access to carriers, clouds and IT service providers. The first 4 megawatts at VA-2 was delivered in early July, with that facility representing 24 megawatts of IT capacity at full build-out.
Strategically located in the heart of downtown Denver, DEN-1 is a concurrently maintainable data center, situated in one of the lowest disaster risk areas in the U.S. With more than 11 megawatts of IT capacity, this purpose-built data center provides carrier-neutral connectivity, with access to 12 native carriers and multiple public cloud on-ramps.
Additional highlights from the Iron Mountain data center footprint include:
Iron Mountain's global data center platform consists of 15 operational facilities across 13 markets and three continents. Including leasable capacity and land and buildings held for future development, Iron Mountain's data center platform can support more than 350 megawatts of IT capacity at full build-out. For more information on Iron Mountain Data Centers, visit https://www.ironmountain.com/digital-transformation/data-centers.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across more than 1,480 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.
Forward Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not, limited to statements concerning the migration of the customer’s data and the build out capacity at our Northern Virginia facility. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations.
These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. Important factors that could cause actual results to differ from expectations include (i) the impact of the COVID-19 outbreak on our business, operations and financial condition, (ii) our ability to remain qualified for taxation as a real estate investment trust for U.S. federal income tax purposes; (iii) the adoption of alternative technologies and shifts by our customers to storage of data through non-paper based technologies; (iv) changes in customer preferences and demand for our storage and information management services; (v) the cost and our ability to comply with laws, regulations and customer demands relating to data security and privacy issues, as well as fire and safety standards; (vi) our ability or inability to execute our strategic growth plan, expand internationally, complete acquisitions on satisfactory terms, and to integrate acquired companies efficiently; (vii) changes in the amount of our growth and recurring capital expenditures and our ability to raise capital and invest according to plan; (viii) the impact of litigation or disputes that may arise in connection with incidents in which we fail to protect our customers' information or our internal records or IT systems and the impact of such incidents on our reputation and ability to compete; (ix) our ability to execute on Project Summit and the potential impacts of Project Summit on our ability to retain and recruit employees and execute on our strategy (x) changes in the price for our storage and information management services relative to the cost of providing such storage and information management services; (xi) changes in the political and economic environments in the countries in which our international subsidiaries operate and changes in the global political climate; (xii) the impact of executing on our growth strategy through joint ventures; (xii) our ability to comply with our existing debt obligations and restrictions in our debt instruments or to obtain additional financing to meet our working capital needs; (xiv) the impact of service interruptions or equipment damage and the cost of power on our data center operations; (xv) changes in the cost of our debt; (xvi) the impact of alternative, more attractive investments on dividends; (xvii) the cost or potential liabilities associated with real estate necessary for our business; (xviii) the performance of business partners upon whom we depend for technical assistance or management expertise; (xix) other trends in competitive or economic conditions affecting our financial condition or results of operations not presently contemplated; and (xx) other risks described more fully in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our periodic reports or incorporated therein. You should not rely upon forward-looking statements except as statements of our present intentions and of our present expectations, which may or may not occur. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contacts:
Greer Aviv
Senior Vice President, Investor Relations
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(617) 535-2887
Nathan McCurren
Director, Investor Relations
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(617) 535-2997
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