DUBLIN--(BUSINESS WIRE)--The "Intelligent Pigging - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The 146-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Intelligent Pigging Market to Reach $797.8 Million by 2027
Amid the COVID-19 crisis, the global market for Intelligent Pigging estimated at US$589.1 Million in the year 2020, is projected to reach a revised size of US$797.8 Million by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027.
Magnetic Flux Leakage, one of the segments analyzed in the report, is projected to record a 4.2% CAGR and reach US$476.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ultrasonic segment is readjusted to a revised 4.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $173.5 Million, While China is Forecast to Grow at 4.2% CAGR
The Intelligent Pigging market in the U.S. is estimated at US$173.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$141.9 Million by the year 2027 trailing a CAGR of 4.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 3.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Caliper Segment to Record 4.6% CAGR
In the global Caliper segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$63.2 Million in the year 2020 will reach a projected size of US$87.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$89.3 Million by the year 2027.
Competitors identified in this market include, among others:
Total Companies Profiled: 46
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In the age of Industry 4.0, stakeholders need holistic, long-term plans for territory and sitewide connectivity
BOULDER, Colo.--(BUSINESS WIRE)--#5G--A new report from Guidehouse Insights examines why energy industry verticals should consider the long-term evolution (LTE) family of technologies, including NB-IoT, LTE Cat-M1, LTE Cat-1, and 4G and 5G LTE, for their strategic long-term connectivity needs.
Industry 4.0 is here, and energy industry participants—including utilities, oil & gas (O&G), and mining operations—must embrace a full range of digitization technologies to remain safe, efficient, reliable, and competitive as their operating environments transform. Ubiquitous, flexible, and future-proof communications networking will be foundational to this. Click to tweet: According to a new report from @WeAreGHInsights, a strategy built around the family of LTE wireless technologies, based on global standards, presents an effective solution poised to evolve as 5G technology matures.
“To date, most utilities, O&G, and mining companies have taken a scattershot approach, building ad hoc, application-centric networks to perform just a few tasks. They may be operating dozens of incompatible networks per site, with a mix of wired and wireless, public and private solutions performing disparate functions,” says Richelle Elberg, principal research analyst with Guidehouse Insights. “Looking ahead, a strategic, holistic, long-term plan should be created for full-territory and sitewide connectivity.”
To position for success, Guidehouse Insights recommends utilities partner with public carriers for infrastructure sharing, reduced costs, and revenue opportunities. They should trial LTE-based network applications with a carrier or in a pilot using shared spectrum, and then consider investment in private spectrum for the most secure, long-term approach. The report also recommends coordination among smaller entities to bring market influence and tailored offerings from carriers and infrastructure vendors.
The report, Wireless Networking and Energy: LTE Standards Set the Stage for the 5G Era, addresses why energy industry verticals should consider the LTE family of technologies for their strategic long-term connectivity needs. It describes each of the LTE-based networking protocols and how they will seamlessly evolve into the 5G framework. It also discusses the various ways LTE networking services can be bought or built and covers the options energy and utility vertical participants have for spectrum needs. It includes a comprehensive list of IoT use cases enabled by LTE protocols, including Narrowband-Internet of Things (NB-IoT), LTE Cat-M1, LTE Cat-1, and 4G and 5G LTE. 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, D.C., 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, Wireless Networking and Energy: LTE Standards Set the Stage for the 5G Era, 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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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Storage Valves Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The oil and gas storage valves market is poised to grow by $ 130.53 mn during 2020-2024 progressing at a CAGR of 2% during the forecast period.
The reports on oil and gas storage valves market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing mandates for SPRs and increasing focus on unconventional oil and gas E&P activities.
The oil and gas storage valves market analysis include application segment and geographic landscapes. This study identifies the growing demand for natural gas as one of the prime reasons driving the oil and gas storage valves market growth during the next few years.
The research presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The oil and gas storage valves market covers the following areas:
This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oil and gas storage valves market vendors that include AVK Holding AS, Baker Hughes Co., Curtiss-Wright Corp., Emerson Electric Co., Flowserve Corp., Honeywell International Inc., Schlumberger Ltd., TechnipFMC Plc, The Weir Group Plc, Wartsila Corp. Also, the oil and gas storage valves market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The research presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary.
This market research report provides a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ob96kq
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Enhanced Gas Recovery Market, Size, Share, Outlook and COVID-19 Strategies, Global Forecasts from 2019 to 2026" report has been added to ResearchAndMarkets.com's offering.
This report presents the emerging market trends, factors driving the Enhanced Gas Recovery market growth, and potential opportunities over the forecast period. The trends underpinning the profitability of Enhanced Gas Recovery companies are shifting rapidly, forcing companies to carefully align their strengths in synchronization with Enhanced Gas Recovery industry trends.
To avoid getting left behind in an intensive competitive Enhanced Gas Recovery market, global companies need a new approach to ensure they create value in this environment. Amid increasing activities of M&A and growing activist-investor activity, Enhanced Gas Recovery companies must strengthen their capabilities to maintain their market shares in the Enhanced Gas Recovery industry.
To assist Enhanced Gas Recovery manufacturers and vendors to formulate their strategies and analyze their business in the global front, the publisher has published its 2020 series of Enhanced Gas Recovery market size, share, opportunities, and outlook to 2026. The report explores changing Enhanced Gas Recovery market landscape, capital markets, strategies, mergers & acquisitions in the global and country-level markets.
The report presents an introduction to the Enhanced Gas Recovery market in 2020, analyzing the COVID-19 impact both quantitatively and qualitatively. It presents the strategies being adopted by leading Enhanced Gas Recovery companies, emerging market trends, Enhanced Gas Recovery market drivers, challenges, and potential opportunities to 2026. The market attractiveness index is also included to assess the impact of suppliers, buyers, competitive landscape, new entrants, and substitutes on the Enhanced Gas Recovery market.
The global Enhanced Gas Recovery market size is forecast across different scenarios including the actual forecasts and COVID affected forecasts from 2019 to 2026. Further, Enhanced Gas Recovery market revenue and market shares in global industry are forecast across different types of Enhanced Gas Recovery, applications, and end-user segments of Enhanced Gas Recovery and across 18 countries.
Report Guide
Chapter-wise Guidance
General Scope
Key Topics Covered:
1 Table of Contents
2 Executive Summary
2.1 Market Panorama, 2020
2.2 Enhanced Gas Recovery Outlook to 2026 - Original Forecasts
2.3 Enhanced Gas Recovery Outlook to 2026 - COVID-19 Affected Forecasts
3 Strategic Analytics to Boost Productivity and Profitability
3.1 Potential Market Drivers and Opportunities
3.2 New Challenges and Strategies being adopted by Companies
3.3 Short Term and Long Term Enhanced Gas Recovery market trends
3.4 Impact of New Entrants, Competitive Landscape, Substitutes, Buyer and Supplier Powers
4 Global Enhanced Gas Recovery Market Outlook across Types to 2026
4.1 Asia Pacific Enhanced Gas Recovery Market Outlook across Types, 2019 - 2026
4.2 Europe Enhanced Gas Recovery Market Outlook across Types, 2019 - 2026
4.3 North America Enhanced Gas Recovery Market Outlook across Types, 2019 - 2026
4.4 South and Central America Enhanced Gas Recovery Market Outlook across Types, 2019 - 2026
4.5 Middle East Africa Enhanced Gas Recovery Market Outlook across Types, 2019 - 2026
5 Global Enhanced Gas Recovery Market Outlook across Applications to 2026
5.1 Asia Pacific Enhanced Gas Recovery Market Outlook across Applications, 2019 - 2026
5.2 Europe Enhanced Gas Recovery Market Outlook across Applications, 2019 - 2026
5.3 North America Enhanced Gas Recovery Market Outlook across Applications, 2019 - 2026
5.4 South and Central America Enhanced Gas Recovery Market Outlook across Applications, 2019 - 2026
5.5 Middle East Africa Enhanced Gas Recovery Market Outlook across Applications, 2019 - 2026
6 Country - wise Enhanced Gas Recovery Market Analysis and Outlook to 2026
7 Global Enhanced Gas Recovery Market Competitive Analysis
7.1 Top 10 Leading Companies in the global Enhanced Gas Recovery industry
7.1.1 Business Overview
7.1.2 Enhanced Gas Recovery Products and Services
7.1.3 SWOT Analysis
7.1.4 Financial Profile
8 Global Enhanced Gas Recovery Market - Recent Developments
8.1 Enhanced Gas Recovery Market News and Developments
8.2 Enhanced Gas Recovery Market Deals Landscape
9 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/7xuvqo
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Drill Collar Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The drill collar market is expected to register a CAGR of over 1% during the forecast period of 2020-2025.
Factors, such as increased exploration activity and focus on development of new oil and gas fields, are expected to help drive the market for drill collar. However, the volatile nature of oil prices in recent years led to decreased exploration activity causing a slowdown of the drill collar systems market.
Companies Mentioned
Key Market Trends
Onshore to Dominate the Market
North America 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 Active Rig Count, till 2019
4.4 Historic and Demand Forecast of Upstream CAPEX in USD billion, by Onshore and Offshore, 2017-2025
4.5 Recent Trends and Developments
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Standard Steel Drill Collar
5.1.2 Non-magnetic Drill Collar
5.2 Deployment
5.2.1 Onshore
5.2.2 Offshore
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/a5jhhf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ:NFE) (“New Fortress” or the “Company”) announced today that its Board of Directors (the “Board”) has declared a third quarter 2020 common stock dividend of $0.10 per Class A Common Share.
“We are pleased to announce our first common stock dividend,” said Wes Edens, Chairman and CEO of New Fortress. “As we stated on our earnings call, one of our strategic goals is to begin paying dividends to our shareholders as our long-term capital structure becomes highly cash flow generative. This dividend is a significant step forward toward our goal to become a world-class investment grade operating company.”
Common Stock Dividend
The Board declared a quarterly dividend of $0.10 per Class A Common Share for the third quarter of 2020. The dividend is payable on September 14, 2020, to Class A Common Shareholders of record on September 7, 2020.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the payment of a dividend in respect of the Company’s Class A Common Shares. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
IR:
Alan Andreini
(212) 798-6128
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Joshua Kane
(516) 268-7455
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HOUSTON--(BUSINESS WIRE)--SANDRIDGE PERMIAN TRUST (NYSE: PER) (the “Trust”) today confirmed that it has received an open letter from PEDEVCO Corp. addressed to the Trust, The Bank of New York Mellon Trust Company, N.A., as trustee of the Trust (the “Trustee”), the holders of the common units of the Trust (“Trust units”), and Avalon Energy, LLC (“Avalon”), as a holder of Trust units and the operator of the assets underlying the Trust, regarding PEDEVCO’s interest in acquiring all of the publicly-traded Trust units via an exchange offer and subsequent merger. On August 26, 2020, in response to an indication of interest sent by PEDEVCO directly to the Trustee, the Trustee informed PEDEVCO that because the trust agreement governing the Trust does not authorize the Trustee to enter into an arrangement with an offer or with respect to a negotiated exchange offer or tender offer for the outstanding Trust units, the Trustee declined to enter into discussions with PEDEVCO regarding the transactions contemplated by PEDEVCO’s indication of interest.
The open letter expresses an indication of interest and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval or an exchange offer. The open letter specifies that if any such offer, solicitation or exchange offer is made, PEDEVCO will file with the Securities and Exchange Commission (the “SEC”) a registration statement, a proxy statement and/or a Schedule TO.
If any such offer is made, the Trustee will file with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 to advise holders of Trust units as to whether the Trustee recommends acceptance or rejection of the offer, expresses no opinion and remains neutral to the offer, or is unable to take a position with respect to the offer, and the reasons for that position or inability to take a position.
The Trustee recommends that holders of Trust units defer making any investment decision with respect to their Trust units until such time. The Trustee also recommends that holders of Trust units, before making any investment decision with respect to their Trust units, consider the Schedule 13D/A that Avalon and Montare Resources I, LLC jointly filed with the SEC on August 27, 2020.
SandRidge Permian Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
AKRON, Ohio--(BUSINESS WIRE)--$BW #EPA--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment will supply its innovative, patented Allen-Sherman-Hoff® Submerged Grind Conveyor technology to help a customer meet U.S. Environmental Protection Agency rules for the handling of ash from power plants.
B&W was awarded a contract for more than $8 million to design and supply two Submerged Grind Conveyor (SGC) ash handling systems and associated equipment. The ash handling systems will help the plant owner reduce water use and reliance on ash storage ponds.
“B&W Environmental’s SGC technology is a unique, cost-effective solution that helps customers to meet U.S. effluent limitation guidelines (ELG) and combustion residuals (CCR) requirements with a simplified and cost-effective design,” said B&W Chief Operating Officer Jimmy Morgan. “We’re looking forward to providing our customer with the solutions they need to keep their plants running cleanly and safely.”
Engineering and manufacturing is underway in B&W’s offices in Akron and Lancaster, Ohio, and in Exton, Pa.
B&W Environmental’s SGC system is smaller and lighter than conventional submerged chain conveyors because it receives bottom ash after crushing by clinker grinders and is not subject to heavy loads. Its flexible design can be adapted between a plant’s boiler and outside the boiler house. No ash transport water is used, which meets the ELG requirement for closed loop or zero discharge of water.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox 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.
About B&W Environmental
Babcock & Wilcox Environmental offers a full suite of best-in-class emissions control products and solutions for utility and industrial steam generation applications around the world. The segment’s broad experience includes systems for ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control, along with cooling solutions.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to design and supply two Submerged Grind Conveyor ash handling systems and associated equipment for two U.S. power plants. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
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The facility is the first to use modular technology in the United States
HOUSTON--(BUSINESS WIRE)--The Elba Liquefaction Company, L.L.C. (ELC), a joint venture between Kinder Morgan, Inc. (NYSE: KMI) and EIG Global Energy Partners (EIG), announced today the commercial in-service of Unit 7, the last of 10 Movable Modular Liquefaction units of the approximately $2 billion Elba Liquefaction project. Previously only a liquefied natural gas (LNG) import terminal, the Elba Island Liquefaction facility is now also producing LNG for export purposes.
“The development of this facility was a tremendous undertaking, and we are extremely pleased to have this project in service,” said Kinder Morgan Natural Gas East Region President Kimberly Watson. “The team coordinated with our customer and local, state and federal agencies to put in service a new technology for modular liquefaction units. Its functionality as a bi-directional import/export facility makes it ideal for the changing flow patterns that can occur from time to time.”
Now in full commercial operation, the Elba Island Liquefaction facility has a total capacity of approximately 2.5 million tonnes per year of LNG for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas.
ELC, a KMI joint venture with EIG as a 49 percent partner, owns the liquefaction units and other ancillary equipment. Certain other facilities associated with the project are 100 percent owned by KMI. The project is supported by a 20-year contract with Shell LNG NA, LLC, who is subscribed to 100 percent of the liquefaction capacity.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 147 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel chemicals, ethanol, metals and petroleum coke. For more information, please visit www.kindermorgan.com.
About EIG
EIG is a leading institutional investor to the global energy sector with $22.9 billion under management as of June 30, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 38-year history, EIG has committed over $34.2 billion to the energy sector through more than 360 projects or companies in 36 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the anticipated benefits of the Elba Island Liquefaction facility and expectations regarding energy imports and exports. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the risks and uncertainties described (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2019, its Quarterly Reports on Form 10-Q for the three-month periods ended March 31, 2020 and June 30, 2020 and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.
Kinder Morgan Contacts
Media Relations
Katherine Hill
(713) 369-9176
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Investor Relations
(800) 348-7320
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www.kindermorgan.com
EIG Global Energy Partners
Media Contacts
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
(212) 687-8080
Program offers rebates and empowers drivers to charge their EVs during times of cleanest power generation
BOULDER, Colo. & SAN CARLOS, Calif. & PEARL RIVER, N.Y. & POUGHKEEPSIE, N.Y.--(BUSINESS WIRE)--#energyactions--New York-based utilities Central Hudson Gas & Electric and Orange & Rockland have launched an electric vehicle (EV) charging pilot program with Uplight and Enel X. The program provides an instant $450 rebate to qualified customers when purchasing select Wi-Fi enabled JuiceBox EV charging stations on the utilities’ online Marketplaces and enrolls them in the Charge Smart Program. This program automatically charges the vehicle during times of the cleanest power generation – decreasing the amount of greenhouse gas emissions.
Uplight, the leader in customer experience for energy users, will use its Marketplace solution to provide instant rebate validation when a customer purchases an EV charger and enrolls into the EV charging program—creating a seamless customer experience that also increases program participation. When a customer purchases a JuiceBox smart charger, it will arrive at the residence already calibrated to participate in the program, without any further enrollment effort on the customer’s part. The project supports New York State’s nation-leading climate and clean energy goals to reduce carbon emissions 85 percent by 2050.
“As more utilities and states pledge to go carbon neutral, it is essential to start bringing their customers on that journey as well by connecting them to critical resources like EVs,” said Josh Lin, General Manager of Uplight. “Driving an EV is already a powerful step a customer takes to reduce their environmental impact, but this program gives customers the right tools to help them more seamlessly manage their energy usage. Uplight is excited to support such an innovative program that aligns with our goal of reducing carbon emissions.”
Program participants will gain access to Enel X’s JuiceNet smart charging dashboard and mobile app, where they can monitor and control their charging routines. JuiceNet Green, a unique software service, shifts EV charging during each session to times when greenhouse gas emissions are lower, and the dirtiest fossil-fuel power plants are least utilized. JuiceNet Green utilizes forecast and real-time greenhouse gas emissions data from WattTime, a subsidiary of the Rocky Mountain Institute. The JuiceNet Utility Edition platform also allows utilities to monitor and analyze demand from participating charging stations and manage charging to respond to and align with real-time grid conditions.
“With more renewables coming online each year, it’s critical we manage new EV load demands efficiently while fully supporting a 100 percent electrified future,” said Giovanni Bertolino, head of e-mobility for Enel X North America. “As New York continues to make strides to reduce greenhouse gas emissions by 40 percent over the next decade, our hope is that smart charging will increase EV driver access to renewable energy on the grid as well as help New York meet its clean energy goals, conveniently and cost effectively.”
Interested customers can view their respective Marketplaces for more information:
About Enel X
Enel X is Enel's global business line dedicated to the development of innovative products and digital solutions in sectors where energy is showing the greatest potential for transformation: cities, homes, industries and electric mobility. The company is a global leader in the advanced energy solution sector, managing services such as demand response for over 6 GW of total capacity at global level and 110 MW of storage capacity installed worldwide, as well as a leading player in the electric mobility sector, with around 100,000 public and private EV charging ports made available around the globe. Enel X’s electric vehicle charging station technology, called JuiceBox®, and its JuiceNet® platform, provide smart management of electric vehicle charging. Enel X has deployed over 100,000 EV smart charging stations in over 20 countries. Enel X in North America has around 4,500 business customers, spanning more than 35,000 sites, representing approximately $10.5B in energy spend under management, approximately 4.7 GW of demand response capacity and over 70 battery storage projects that are operational and under contract. To learn more about Enel X e-Mobility visit our website: https://evcharging.enelx.com/
About Uplight
Uplight is powering the customer energy experience for more than 85 electric and gas utilities around the globe. Uplight provides the market’s leading energy applications for Demand Side Management, Energy Analytics, Disaggregation, Utility Marketplaces, Utility Personalization, Home Energy Management, Demand Response, and more. Connected by a unique Energy Personalization Architecture, Uplight’s platform blends advanced data science with energy-specific analytics, enabling utilities to create the personalized customer experiences that improve customer satisfaction, reduce service costs, increase revenue, and deliver sustainable energy outcomes—all in a simple, fast, and cost-effective way. A certified B Corporation, Uplight is on a mission to build a more sustainable future by accelerating the clean energy ecosystem.
To learn more, visit us at www.uplight.com, find us on Twitter @uplight or on LinkedIn at https://www.linkedin.com/company/uplightenergy.
Media Contacts:
Enel X
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Uplight
Elaine Reddy
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN) today announced the completion of its previously announced underwritten public offering (the “Offering”) of $350 million aggregate principal amount of 8.375% senior notes due 2028 (the “Notes”), with net proceeds from the Offering totaling approximately $345 million after underwriting discounts and offering expenses. The Notes were sold to the public at a price of 100% of their face value.
Southwestern Energy intends to use the net proceeds from the Offering, together with the net proceeds received from its recent common stock offering and borrowings under its credit agreement, to fund a redemption of Montage Resources Corporation’s (“Montage”) issued and outstanding senior notes that it will assume upon the closing of its recently announced merger with Montage (the “Merger”).
Citigroup, BofA Securities and Wells Fargo Securities are acting as representatives of the underwriters and joint book-running managers for the Offering. The Offering was made under an effective automatic shelf registration statement on Form S-3, as amended (Registration No. 333-238633), filed by Southwestern Energy with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying base prospectus. Prospective investors should read the prospectus supplement and the accompanying base prospectus included in the registration statement and other documents Southwestern Energy has filed with the SEC for more complete information about Southwestern Energy and the Offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, a copy of the base prospectus and the prospectus supplement may be obtained, when available, from:
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 800-831-9146
BofA Securities
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte NC 28255-0001
Attention: Prospectus Department
Telephone: 1‐800‐294‐1322
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Wells Fargo Securities
550 S. Tryon Street, 5th Floor
Charlotte, NC 28202
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Fax: (704) 410-4874 (with such fax to be confirmed by telephone to (704) 410-4885)
Attention: Leveraged Syndicate
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities or the Montage Notes, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas, natural gas liquids and oil exploration, development, production and marketing.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements relate to future events, including, but not limited to, anticipated results of operations, business strategies, other aspects of Southwestern Energy’s operations or operating results, the use of proceeds of the offering and the consummation of the Merger. In many cases you can identify forward-looking statements by terminology such as the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “predict,” “budget,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “continue,” “project,” “projection,” “goal,” “model,” “target,” “potential,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “are likely” and other similar expressions. Where, in any forward-looking statement, Southwestern Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; 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; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions, including the impact of COVID-19; as well as changes in tax, environmental and other laws applicable to Southwestern Energy’s business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting Southwestern Energy’s business generally as set forth in Southwestern Energy’s filings with the SEC. Unless legally required, Southwestern Energy Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Investor Relations Advisor
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DUBLIN--(BUSINESS WIRE)--The "Mineral, Synthetic and Biodegradable Food Grade Lubricants Market, Size, Share, Outlook and COVID-19 Strategies, Global Forecasts from 2019 to 2026" report has been added to ResearchAndMarkets.com's offering.
This report presents the emerging market trends, factors driving the Mineral, Synthetic and Biodegradable Food Grade Lubricants market growth, and potential opportunities over the forecast period. The trends underpinning the profitability of Mineral, Synthetic and Biodegradable Food Grade Lubricants companies are shifting rapidly, forcing companies to carefully align their strengths in synchronization with Mineral, Synthetic and Biodegradable Food Grade Lubricants industry trends.
To avoid getting left behind in an intensive competitive Mineral, Synthetic and Biodegradable Food Grade Lubricants market, global companies need a new approach to ensure they create value in this environment. Amid increasing activities of M&A and growing activist-investor activity, Mineral, Synthetic and Biodegradable Food Grade Lubricants companies must strengthen their capabilities to maintain their market shares in the Mineral, Synthetic and Biodegradable Food Grade Lubricants industry.
To assist Mineral, Synthetic and Biodegradable Food Grade Lubricants manufacturers and vendors to formulate their strategies and analyze their business in the global front, the publisher has published its 2020 series of Mineral, Synthetic and Biodegradable Food Grade Lubricants market size, share, opportunities, and outlook to 2026. The report explores changing Mineral, Synthetic and Biodegradable Food Grade Lubricants market landscape, capital markets, strategies, mergers & acquisitions in the global and country-level markets.
The report presents an introduction to the Mineral, Synthetic and Biodegradable Food Grade Lubricants market in 2020, analyzing the COVID-19 impact both quantitatively and qualitatively. It presents the strategies being adopted by leading Mineral, Synthetic and Biodegradable Food Grade Lubricants companies, emerging market trends, Mineral, Synthetic and Biodegradable Food Grade Lubricants market drivers, challenges, and potential opportunities to 2026. The market attractiveness index is also included to assess the impact of suppliers, buyers, competitive landscape, new entrants, and substitutes on the Mineral, Synthetic and Biodegradable Food Grade Lubricants market.
The global Mineral, Synthetic and Biodegradable Food Grade Lubricants market size is forecast across different scenarios including the actual forecasts and COVID affected forecasts from 2019 to 2026. Further, Mineral, Synthetic and Biodegradable Food Grade Lubricants market revenue and market shares in global industry are forecast across different types of Mineral, Synthetic and Biodegradable Food Grade Lubricants, applications, and end-user segments of Mineral, Synthetic and Biodegradable Food Grade Lubricants and across 18 countries.
Report Guide
General Scope
Key Topics Covered:
1 Table of Contents
2 Executive Summary
2.1 Market Panorama, 2020
2.2 Mineral, Synthetic and Biodegradable Food Grade Lubricants Outlook to 2026 - Original Forecasts
2.3 Mineral, Synthetic and Biodegradable Food Grade Lubricants Outlook to 2026 - COVID-19 Affected Forecasts
3 Strategic Analytics to Boost Productivity and Profitability
3.1 Potential Market Drivers and Opportunities
3.2 New Challenges and Strategies being adopted by Companies
3.3 Short Term and Long Term Mineral, Synthetic and Biodegradable Food Grade Lubricants market trends
3.4 Impact of New Entrants, Competitive Landscape, Substitutes, Buyer and Supplier Powers
4 Global Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Types to 2026
4.1 Asia Pacific Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Types, 2019 - 2026
4.2 Europe Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Types, 2019 - 2026
4.3 North America Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Types, 2019 - 2026
4.4 South and Central America Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Types, 2019 - 2026
4.5 Middle East Africa Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Types, 2019 - 2026
5 Global Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Applications to 2026
5.1 Asia Pacific Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Applications, 2019 - 2026
5.2 Europe Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Applications, 2019 - 2026
5.3 North America Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Applications, 2019 - 2026
5.4 South and Central America Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Applications, 2019 - 2026
5.5 Middle East Africa Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Outlook across Applications, 2019 - 2026
6 Country - wise Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Analysis and Outlook to 2026
7 Global Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Competitive Analysis
7.1 Top 10 Leading Companies in the global Mineral, Synthetic and Biodegradable Food Grade Lubricants industry
7.1.1 Business Overview
7.1.2 Mineral, Synthetic and Biodegradable Food Grade Lubricants Products and Services
7.1.3 SWOT Analysis
7.1.4 Financial Profile
8 Global Mineral, Synthetic and Biodegradable Food Grade Lubricants Market - Recent Developments
8.1 Mineral, Synthetic and Biodegradable Food Grade Lubricants Market News and Developments
8.2 Mineral, Synthetic and Biodegradable Food Grade Lubricants Market Deals Landscape
9 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/9j79mv
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ANCHORAGE, Alaska--(BUSINESS WIRE)--International law firm Dorsey & Whitney LLP is pleased to announce that it has named Corporate Partner Jill McLeod as head of the Firm’s Anchorage office effective August 24, 2020.
Ms. McLeod succeeds Mike Mills as Office Head. “I’ve thoroughly enjoyed my time as Office Head, but look forward to focusing on my role on the Firm’s Policy Committee,” noted Mr. Mills. “It has been an honor leading such a talented group of attorneys and staff in Anchorage. I’m excited about where we are headed and I know Jill will do a great job in this role.”
Ms. McLeod has more than 20 years of U.S. and international legal experience, including extensive work in oil and gas, mining, telecommunications, transportation, commercial transactions, mergers and acquisitions, contracts, procurement and supply chain, corporate governance, regulatory compliance, environmental, employment and property law. Prior to joining Dorsey she was in-house counsel for ConocoPhillips (Anchorage, Alaska), one of the world’s largest independent oil and gas exploration and production companies, where she provided expert legal support and advice to the company’s North Slope asset groups, analyzed and evaluated legal issues relating to onshore/offshore oil and gas authorizations, leasing, permitting, drilling, exploration, development and production and collaborated with executive management and industry leaders on strategic planning issues impacting the company and the oil and gas industry. Before joining ConocoPhillips, Jill served as in-house counsel for United Companies, Inc., an Alaskan Native-owned corporation, and its subsidiaries, which provided electrical and telecommunications services to communities in rural Alaska.
“I would like to thank Mike for serving as the Office Head and I am pleased to welcome Jill as the new Head of our Anchorage office,” noted Dorsey Managing Partner Bill Stoeri. “She is an exceptional attorney who understands the Dorsey culture and our mission of providing the highest quality service to all of our clients. I am confident that Jill will provide the leadership we need going forward.”
About Dorsey & Whitney LLP
Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful companies from a wide range of industries, including leaders in banking & financial institutions, development & infrastructure, energy & natural resources, food, beverage & agribusiness, healthcare and technology, as well as major non-profit and government entities.
Jeri Longtin-Kloss
+1.612.492.5315
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National Truck Driver Appreciation Week is Sept. 13 - 19
WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA), nationwide operator of the TA, Petro Stopping Centers and TA Express travel center network, is celebrating its valued professional driver customers during National Truck Driver Appreciation Week, Sept. 13-19, and throughout the month of September.
Starting Sept. 1, TA will hold a month-long “TA Driver Appreciation” Sweepstakes for all UltraONE members. By making a fuel or truck service purchase, or by swiping their loyalty card at the kiosk, UltraONE members become eligible for a number of prizes chosen specifically for professional drivers. (To make this Sweepstakes more special, TA surveyed a number of professional drivers to see what kinds of prizes they would enjoy.) One swipe per day will count for the Sweepstakes and drivers may be chosen at random to win one of the following:
During National Truck Driver Appreciation Week, TA is honoring drivers by offering extra loyalty points and other deals.
“We are truly grateful to serve the millions of professional drivers who play such an important role in this nation, and the challenges of 2020 have certainly proven the sacrifice and commitment that professional drivers embody,” said Jon Pertchik, CEO of TA. “We are proud and humbled to be part of their everyday lives and will continue working diligently to ensure we’re their home away from home.”
About TravelCenters of America
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 20,000 employees serve customers in 270 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public. TravelCenters of America operates nearly 650 full-service and quick-service restaurants and 10 proprietary brands, including Quaker Steak and Lube®, Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Tina Arundel
TravelCenters of America
216-389-3028
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The program to install about 38,000 electric car chargers over the next five years will help California achieve its EV and climate goals.
ROSEMEAD, Calif.--(BUSINESS WIRE)--State officials gave Southern California Edison the green light today for an expansive electric car charging infrastructure program that will add about 38,000 new chargers throughout the utility’s 50,000-square-mile service area.
The program, known as Charge Ready 2, will be the nation’s largest light-duty electric vehicle charging program run by an investor-owned utility.
“This action by the California Public Utilities Commission is critical to supporting California’s transition from fossil fuel toward electrification,” said Katie Sloan, SCE director of eMobility and Building Electrification. “Also, investment in EV charging infrastructure can be a catalyst to help with economic recovery from COVID-19, while also supporting vital air quality and climate benefits to all communities.”
The program is an expansion of SCE’s Charge Ready pilot, which was launched three years ago. During the pilot phase, the utility has partnered with businesses, local governments and other organizations to add more than 1,800 EV chargers at more than 100 sites. The $436-million Charge Ready 2 program will continue to focus on providing charging infrastructure at workplaces, public parking lots, schools, hospitals and destination centers.
“By making more charging stations available, we are helping to advance a key component of California’s ambitious climate and transportation electrification goals,” said Jered Lindsay, SCE principal manager of Air and Climate Policy. “SCE’s analysis of the steps that the state must take over the next 25 years to meet those goals calls for 76% — or 26 million — cars on California highways to be electric.”
Through Charge Ready, SCE installs and maintains the supporting EV charging infrastructure and provides rebates to reduce charging station costs, while participants typically own, operate and maintain qualified charging stations.
“Going forward, we will have an added emphasis on the unique challenges faced by apartment and condo complexes, where one-third of SCE customers live and have limited access to at-home charging options,” Sloan said. For this reason, the expanded program has added rebates to support the installation of EV charging ports in new multifamily dwellings that are under construction.
Charge Ready 2 also sets a target to locate 50% of the chargers in state-designated disadvantaged communities, or economically impacted communities that suffer most from the effects of air pollution.
In addition to Charge Ready 2 for passenger EVs, SCE launched a program last year for trucks, buses and off-road industrial equipment. The largest program of its kind in the U.S., Charge Ready Transport aims to add charging to support at least 8,490 medium- and heavy-duty EVs over a five-year period. The $356 million program is also modeled after the Charge Ready pilot.
Media Contact: Paul Griffo, (626) 302-2255
Leading software provides real-time management and optimization across the smart grid
ST. LOUIS--(BUSINESS WIRE)--Emerson (NYSE: EMR) today announced it has agreed to acquire Open Systems International, Inc. (OSI Inc.) for $1.6 billion in an all cash transaction. OSI Inc. is a leading operations technology software provider that broadens and complements Emerson’s robust software portfolio and ability to help customers in the global power industry, as well as other end markets, in their quest to transform and digitize operations to more seamlessly incorporate renewable energy sources and improve energy efficiency and reliability.
Digitization is critical for the power industry to modernize and improve the reliability of the electric grid. Incorporating clean and renewable energy sources, such as solar and wind, requires balancing the variable nature of renewable energy with the often bi-directional demands of the grid. By combining Emerson’s domain expertise and leading technology in power generation with OSI Inc.’s complementary software and reach within the power transmission and distribution sectors, the acquisition will equip customers with the end-to-end ability to monitor, control and optimize real-time operations across the power enterprise through scalable, software-enabled automation and data management.
“An enormous change is underway as utilities globally are investing to digitize the grid and adapt to rapidly evolving energy sources and new technologies that increase consumer choices,” said Lal Karsanbhai, executive president of Emerson’s Automation Solutions business. “This acquisition will help the power industry maximize the remarkable opportunity to harness renewable energy sources and to accelerate the transformation to the smart power grid. Emerson now has the opportunity to be a leader in this large, rapidly growing market with a compelling and complete software and technology offering.”
OSI Inc.’s advanced modular technology offers customers tailored solutions for their power grid management needs and is scalable to other industries. Combining this technology with Emerson’s Ovation control system, which is a market leader for power generation control, will provide utility customers with increased visibility into the current status of their power system, enabling unparalleled ability to optimize energy efficiency from generation through customer delivery –enabling the broader industry goal of minimizing carbon footprint.
The acquisition will complement Emerson’s existing robust portfolio of software and automation technologies that support the world’s essential industries.
“Our $1 billion standalone software and associated engineering implementation services portfolio is quickly growing to meet customer needs and support operational performance, analytics and digital transformation,” Karsanbhai said. “OSI Inc. is a great business with a track record of high growth, strong profitability and long-term customer loyalty. This acquisition builds on Emerson’s software footprint and supports customers in providing comprehensive end-to-end solutions to help the power industry continue transforming to meet the needs of tomorrow.”
“Emerson and OSI share a commitment to excellent customer service and offering advanced technologies to help customers manage the reliability and resiliency of the electric grid,” said Bahman Hoveida, President & CEO of OSI Inc. “We are excited to combine our advanced technologies, engineering expertise and unsurpassed customer service not only to better serve our electric power customers but also to expand the reach of this critical software into other industries with the Emerson team.”
OSI Inc. is headquartered in Minneapolis, MN and has approximately 1,000 employees globally.
The acquisition is expected to close in early fiscal 2021, subject to various regulatory approvals and other customary closing conditions.
Centerview Partners LLC served as financial advisor and Davis Polk & Wardwell LLP served as legal advisor to Emerson. Wells Fargo & Co. and Lazard served as financial advisors and Fredrikson & Byron, PA served as legal advisor to OSI Inc.
An accompanying slide presentation with additional information will be available at www.emerson.com/financial.
Upcoming Investor Event
Today, beginning at 10:00 a.m. Eastern Time, Emerson management will discuss this acquisition during an investor conference call. Participants can access a live webcast available at www.emerson.com/financial at the time of the call. The conference call slides will be posted in advance of the call on the company website. A replay of the call will remain available for 90 days.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
About OSI Inc.
Open Systems International, Inc. aka OSI Inc. (www.osii.com)—an American technology company headquartered in Minneapolis, Minnesota—provides open, state-of-the-art and high-performance enterprise automation solutions to utilities worldwide. These solutions include Supervisory Control and Data Acquisition (SCADA) systems, Energy Management Systems (EMS), Distribution Management Systems (DMS), Outage Management Systems (OMS), Generation Management Systems (GMS), Substation Automation (SA) Systems, Data Warehousing (Historian) Analytics, Distributed Energy Resource Management Systems (DERMS), Situational Awareness Systems, Pipeline Application Systems (PAS), individual software and hardware products, and Smart Grid solutions for utility operations. OSI's solutions empower its users to meet their operational challenges, day in and day out, with unsurpassed reliability and a minimal cost of technology ownership and maintenance.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impact of the COVID-19 pandemic as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
Investor Contact: Pete Lilly (314) 553-2217
Media Contact: Casey Murphy (314) 982-6220
HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (NYSE: WLKP) today issued a statement regarding Hurricane Laura, which made landfall near plants in the Lake Charles, Louisiana area owned by Westlake Chemical OpCo LP (“OpCo”), in which the Partnership owns a 22.8% interest.
The Partnership’s primary concern is for the safety of OpCo’s employees. The employees who stayed at OpCo’s facilities during Hurricane Laura are safe. OpCo has been conducting equipment assessments, following Hurricane Laura’s overnight move through the area.
Following initial facility assessments, OpCo believes it has incurred limited physical damage. Restart of OpCo’s facilities, which OpCo shut down as a precautionary measure in advance of the storm, will primarily depend upon the availability of electricity, industrial gases, and other feedstocks.
“We do not expect any material impact to OpCo or to the Partnership as a result of Hurricane Laura as, pursuant to OpCo’s Ethylene Sales Agreement with affiliates of Westlake Chemical Corporation (“Westlake Sponsor”), Westlake Sponsor is obligated to pay a margin and fixed costs for 95% of OpCo’s budgeted ethylene production, even following a force majeure event,” said Albert Chao, president and chief executive officer of the Partnership’s general partner.
The statements in this release relating to matters that are not historical facts, such as the Partnership’s belief that OpCo’s facilities incurred limited physical damage and the anticipated restart of OpCo’s facilities, are forward-looking statements. These forward-looking statements could be adversely affected by a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. The Partnership’s expectations may or may not be realized or may be based upon assumptions or judgments that prove to be incorrect. For more detailed information about the factors that could cause actual results to differ materially from the forward-looking statements contained herein, please refer to the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the SEC in February 2020 and Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC in May 2020.
About Westlake Chemical Partners LP
Westlake Chemical Partners is a limited partnership formed by Westlake Chemical Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Headquartered in Houston, the Partnership owns a 22.8% interest in Westlake Chemical OpCo LP. Westlake Chemical OpCo LP’s assets include three facilities in Calvert City, Kentucky, and Lake Charles, Louisiana which process ethane and propane into ethylene, and an ethylene pipeline. For more information about Westlake Chemical Partners LP, please visit http://www.wlkpartners.com.
Media Inquiries:
Westlake Chemical Corp.
Ben Ederington, 713-960-9111
or
Investor Inquiries:
Westlake Chemical Corp.
Steve Bender, 713-960-9111
DUBLIN--(BUSINESS WIRE)--The "Global Fuel Additives Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The global fuel additives market is poised to grow by $4.08 billion during 2020-2024, progressing at a CAGR of 7% during the forecast period.
This report provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the rising demand for ULSD and biofuels. The study identifies the growing demand for fuel from end-user industries as one of the prime reasons driving the fuel additives market growth during the next few years.
The global fuel additives market is segmented as below:
By Type
By Application
By Geography
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fuel additives market vendors that include:
Also, the fuel additives market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
For more information about this report visit https://www.researchandmarkets.com/r/eefbao
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LONDON & LOS ANGELES--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of NAVTOR by Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley. Crescent has also provided an acquisition facility to further accelerate NAVTOR’s top-line growth through strategic M&A. Terms of the financing were not disclosed.
NAVTOR is the global leader in the provision of navigational software for the maritime industry. Its cloud-based e-navigation solutions include Electronic Navigational Charts (ENCs), digital maritime publications, route optimization and fleet management across an integrated platform. The company effectively provides all critical voyage information at the fingertips of navigators in order to solve the complex challenges of passage planning. The global maritime e-navigational industry is on a multi-year technological expansion in large part due to new regulations, an increased focus on safety and ESG goals, and advances in technology.
“This financing for NAVTOR will be instrumental in the company’s plans to accelerate its organic growth strategies and expand further through M&A. NAVTOR is the clear leader in navigational software for the maritime industry driven by its superior technological product suite, and we are proud to support its growth in its next chapter with Accel-KKR. The company is well-positioned to take advantage of the continued digitization of the maritime industry, ensuring safe passage of vessels and crew members through different territories,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction continues to demonstrate Crescent’s ability to provide customized financing solutions to top-tier sponsors investing in market-leading companies with clear competitive advantages and mission-critical products.”
About Crescent Capital
Crescent Capital is a global credit investment manager with approximately $28 billion of assets under management. For over 25 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately-originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche, and junior debt securities. Crescent Capital is headquartered in Los Angeles with offices in New York, Boston, and London and more than 175 employees globally. For more information about Crescent Capital, visit www.crescentcap.com and follow along on Twitter @CrescentCap.
Crescent Capital Group
Mendel Communications
Bill Mendel, +1-212-397-1030
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Board Forms Search Committee to Review Internal and External Succession Candidates
KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy, Inc. (NYSE: EVRG) today announced that Terry Bassham has informed the Board of Directors (the “Board”) of his decision to retire as President, Chief Executive Officer and a Director of Evergy. To ensure a smooth transition, Bassham will continue to serve as Director, President and Chief Executive Officer of Evergy until his successor is appointed.
The Board has formed a search committee to complete the company’s CEO succession process. Tom Hyde, Lead Independent Director, Mollie Carter, Chair of the Compensation and Leadership Development Committee, Sandra Lawrence, Chair of the Nominating, Governance, and Corporate Responsibility Committee, Ann Murtlow, Chair of the Power Delivery and Safety Committee, and Paul Keglevic, Co-chair of the Strategic Review and Operations Committee and Finance Committee, along with Mark Ruelle, Board Chair, will serve as members of the committee, with Ruelle serving as its chair. The committee will review both internal and external candidates and expects to conclude its work by year end.
“Since closing the merger that created Evergy more than two years ago, we have exceeded our merger goals, creating more than $300 million in cost savings to benefit our customers and shareholders,” commented Bassham. “Our successful integration as a management team and strong, consistent execution to date has allowed us to exceed forecasted merger benefits and meet all of our regulatory commitments while improving operational excellence and increasing our involvement in the communities we serve. Now, with the creation and launch of our five-year Sustainability Transformation Plan, Evergy is well-positioned for its next chapter. As we embark on this new high-performance plan, I believe this is the right time for Evergy to transition to a new CEO who has the career runway to see the plan through from the start.”
Bassham, who turned 60 earlier this month, has served as President, Chief Executive Officer and Director of Evergy since its formation in 2018 through the combination of Great Plains Energy and Westar. Prior to that he served as the Chairman of the Board and CEO of Great Plains Energy since 2012.
“It has been my honor and privilege to serve this great company. I am proud of our Evergy team and all we have built together,” continued Bassham. “I’ve always said that what I love most about Evergy is the people and the passion our employees have for our customers and communities. Evergy is embarking on a transformative journey that will result in a greener, more reliable and more affordable electric utility for Missourians and Kansans, with enhanced earnings growth and value creation for Evergy’s shareholders. Having served more than 15 years here in senior executive leadership roles, I feel that now is the right time to make a change to ensure leadership continuity through the execution of the Sustainability Transformation Plan.”
“The Board is grateful to Terry for his leadership in successfully bringing these two companies together to create a great, safe work environment that has allowed Evergy to fulfill all its commitments to our customers and our communities,” said Ruelle. “He has capably led our company through significant change. Now, he has positioned Evergy for greater growth to provide long-term sustainable value for shareholders and customers.”
Evergy announced its high-performance Sustainability Transformation Plan on August 5th of this year. The Board unanimously adopted it as the best risk-adjusted strategy to drive increased value for all Evergy’s stakeholders, including shareholders, customers, employees and the communities it serves. The plan resulted from a comprehensive, independent review that began earlier this year and was conducted by the Board’s Strategic Review & Operations Committee.
“Terry’s leadership as CEO and as a member of the Strategic Review and Operations Committee of the Board was instrumental in formulating the Sustainability Transformation Plan,” said Paul Keglevic, Evergy Board Member and Co-Chair of the Strategic Review and Operations Committee. “While the Board would like to see Terry continue to serve as Evergy’s CEO through the full implementation of the plan, we realize that does not match up with Terry’s personal timeline and, as such, agree with him that we have reached a natural inflection point to appoint a new CEO.”
During his tenure at Evergy, Bassham has held numerous leadership roles in industry organizations, including serving on the Board of Directors of the Electric Power Research Institute and the Edison Electric Institute. He has also been involved with a myriad of civic and charitable organizations, including board positions with GoTopeka, the Kansas City Symphony, the Linda Hall Library, the Greater Kansas City Chamber of Commerce, the Kansas State Chamber of Commerce, the Kansas City Civic Council, the Urban Neighborhood Initiative and Guadalupe Center, Inc. Bassham currently serves as a member of the Board of Directors for Commerce Bancshares.
About Evergy, Inc.
Evergy, Inc. (NYSE: EVRG) serves approximately 1.6 million customers in Kansas and Missouri. We were formed in 2018 when long-term local energy providers KCP&L and Westar Energy merged. We generate nearly half the power we provide to homes and businesses with emission-free sources. We support our local communities where we live and work and strive to meet the needs of customers through energy savings and innovative solutions.
Forward Looking Statements
Statements made in this press release that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to our strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; targeted emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as “anticipates,” “believes,” “expects,” “estimates,” “forecasts,” “should,” “could,” “may,” “seeks,” “intends,” “proposed,” “projects,” “planned,” “target,” “outlook,” “remain confident,” “goal,” “will” or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively, the Evergy Companies) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; changes in business strategy or operations; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation and restructuring of the electric utility industry; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; the impact of climate change, including increased frequency and severity of significant weather events and reduced demand for coal-based energy; prices and availability of electricity in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of the Coronavirus (COVID-19) pandemic on, among other things, sales, results of operations, financial condition, liquidity and cash flows, and also on operational issues, such as the availability and ability of our employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations and independent system operators; financial market conditions and performance, including changes in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; the transition to a replacement for the London Interbank Offered Rate (LIBOR) benchmark interest rate; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of terrorist acts, including cyber terrorism; ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays and cost increases of generation, transmission, distribution or other projects; the Evergy Companies’ ability to manage their transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to increased costs of, or changes in, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence our strategic plan, financial results or operations; the possibility that strategic initiatives, including mergers, acquisitions and divestitures may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, regulators or suppliers; and other risks and uncertainties.
This list of factors is not all-inclusive because it is not possible to predict all factors. Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Evergy Companies with the Securities and Exchange Commission (SEC). Reports filed by the Evergy Companies with the SEC should also be read for more information regarding risk factors. Each forward-looking statement speaks only as of the date of the particular statement. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Media Contact:
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Phone: 785-575-8089
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Investor Contact:
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Phone: 785-575-8227
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