Focus will be on leveraging data to increase value outtake from Brage field, by empowering employee domain experts through Wintershall Dea’s Data Hub & Cognite Data Fusion
OSLO, Norway--(BUSINESS WIRE)--In a continued commitment to drive value through digital, Wintershall Dea has agreed with Cognite to deploy Cognite Data Fusion (CDF) to Brage, scaling the Wintershall Dea Data Hub from Germany to Norway.
This effort builds on an existing partnership between the companies. It will allow the ingestion and contextualization of data from the Brage field to build applications which support Wintershall Dea domain experts in decision-making for smart maintenance and production optimization.
An advisory tool to enable dynamic separator capacity limits will be developed to support decisions related to production optimization, thereby increasing throughput & reduced OPEX.
Safety optimization for critical valves will be achieved by moving from calendar-based maintenance to proactive maintenance, by using contextualized data from valves and other safety-critical equipment.
“We look forward to the development of these solutions with Cognite as they are proven technologies, allowing us to add value quickly,” said Christian Eide from Wintershall Dea Norge.
Cognite will collaborate with operational technology (OT) architects, the data integration team and subject matter experts from Wintershall Dea to develop these solutions, leveraging data from CDF.
This collaboration is also laying foundations for further scaling and acceleration of digital initiatives and Wintershall Dea’s Data Hub. The Data Hub ensures a data reference architecture, the critical enabler to scale initiatives across assets, and is leveraging Cognite Data Fusion as an important component.
“This is a perfect example of Cognite Data Fusion being used to empower and assist workers at Wintershall Dea with actual development and solution delivery that leads to a complete handover of the process as they continue to lead the way with their digital agenda,” said John Markus Lervik, president of Cognite.
About Wintershall Dea
Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.
Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,500 people worldwide from over 60 nations.
About Cognite
Cognite is a global industrial software-as-a-service (SaaS) company supporting the full-scale digital transformation of heavy-asset industries around the world. Their key product, Cognite Data Fusion (CDF), empowers companies with contextualized OT/IT data to drive industrial applications that increase safety, sustainability, and efficiency, and drive revenue. Visit us at www.cognite.com and follow us on Twitter @CogniteData or at LinkedIn: https://www.linkedin.com/company/cognitedata
Michelle Holford,
Global Head of Public Relations, Cognite
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+1 512 744 3420 (US)
+47 482 90 454
WASHINGTON, D.C.--(BUSINESS WIRE)--#EnergyElection--An overwhelming majority of voters in Texas (62%), Louisiana (72%), Mississippi (73%) and Alabama (70%) support sensible offshore exploration and production in the Gulf of Mexico, a new poll from Consumer Energy Alliance (CEA) reveals.
Further, the polling found that almost two-thirds of voters – including a majority of independents and Democrats across various Gulf States – support calls for increased development of responsibly-produced U.S. oil and natural gas. And energy is an important issue to more than 82% of voters surveyed in the Gulf States.
The polling was done to examine how much support offshore exploration and production in the Gulf of Mexico and other energy issues have amongst voters.
Other key findings include:
“The success of those running for office in this election cycle will hinge on their ability to promote issues that assist in economic recovery, promote energy security for America’s families and small businesses, create jobs, and protect our environment,” CEA President David Holt said. “And supporting responsible offshore energy production in the Gulf remains the best way to achieve all of the above.”
“With the Gulf of Mexico producing about a fifth of the nation’s oil, offshore energy production remains one key to America’s ability to protect our critical conservation and environmental programs, coastal restoration and energy security, as well as helping spur COVID-19 economic recovery.”
Holt added: “Voters overwhelmingly support sensible energy solutions, such as offshore energy production. To win in November, candidates are going to have to listen and side with voters.”
CEA’s survey also tracked the political atmosphere across the Gulf States, which highlights approval ratings and support for the 2020 presidential candidates, as well as key elected officials in each state.
About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers and manufacturers to support America's environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy and the environment, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic and environmentally responsible solutions to meet our nation’s energy needs.
Bryson Hull
P: 202-657-2855
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LONDON--(BUSINESS WIRE)--#GlobalSpecialtyChemicalsMarket--This report provides comprehensive insights into specialty chemicals market by end-user (agrochemicals, lubricant and oilfield chemicals, industrial and institutional cleaners, electronic chemicals, adhesives and sealants, food additives, polymers and plastic additives, surfactants, construction chemicals, textile chemicals, and others) and geography (APAC, Europe, MEA, North America, and South America), market valuations and forecasts, and competitive landscape globally.
The research is classified into seven sections – Specialty chemicals market landscape, market sizing, five force analysis, customer landscape, geographic landscape, drivers, challenges, and trends, and vendor landscape and analysis.
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AMES, Iowa--(BUSINESS WIRE)--#REG--Renewable Energy Group, Inc. (NASDAQ:REGI) today announced that it will host its 2020 Virtual Analyst and Investor Day on Tuesday, October 13, 2020 from 9:00 AM to 12:00 PM ET.
REG will conduct a series of presentations to update analysts and investors on the Company’s key strategic initiatives, products and markets, growth strategies and sustainable value. The program will include formal presentations and question and answer sessions.
Attendance at the event is by registration only. Please register at https://www.eventbrite.com/e/109667265744. For more information and inquiries, please email This email address is being protected from spambots. You need JavaScript enabled to view it. or call +1 (515) 239-8048.
Supplemental material will be accessible via the Investor Relations section of the Company's website at https://investor.regi.com/news-events/ir-calendar.
The meeting will include a discussion of non-GAAP (Generally Accepted Accounting Principles) financial measures. Information reconciling these non-GAAP financial measures to REG’s financial results prepared in accordance with GAAP, as well as other financial and statistical information to be discussed, will be posted on REG’s Investor Relations web site at https://investor.regi.com/news-events/ir-calendar prior to commencement of the virtual event.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is North America’s largest producer of biodiesel and an industry leading producer of renewable diesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes a global integrated procurement, distribution and logistics network to operate 13 biorefineries in the U.S. and Europe. In 2019, REG produced 495 million gallons of cleaner fuel delivering over 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Investor Relations:
Renewable Energy Group
Todd Robinson
Treasurer
+1 (515) 239-8048
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Portfolio Now Includes Ultra-Low Temperature Solutions to Meet Emerging Needs of Pharmaceutical Customers
SWORDS, Ireland--(BUSINESS WIRE)--Thermo King, by Trane Technologies (NYSE: TT), a global climate innovator, has expanded its portfolio of temporary storage solutions that can meet the unique requirements of global pharmaceutical companies developing COVID-19 vaccines. Thermo King is the global leader in intelligent end-to-end temperature-controlled cold chain solutions.
Pharmaceutical companies in final-stage clinical trials anticipate they will require strict temperature controls to safeguard their products – down to temperatures as low as -70 degrees Celsius. Thermo King’s solutions can enable these companies and their distributors to ensure the efficacy of their products through the entire cold chain – from air transport to marine, rail, trailer, last-mile delivery and at storage points along the way.
According to the World Health Organization, nearly 20 percent of temperature-sensitive health care products are damaged during transport, and 25 percent of vaccines reach their destination in a degraded state due to breaks in the cold chain.
“Considering the urgent, global need for a COVID-19 vaccine, the world can’t afford breaks in the cold chain,” said Dave Regnery, president and chief operating officer of Trane Technologies. “Our new Cold Storage Solutions can maintain temperatures of -70 degrees Celsius for an extended period of time, can be leveraged to help reduce degradation of a vaccination, and most importantly, could prevent vaccine ‘deserts’ or lack of accessibility.”
Thermo King and its worldwide partners can offer temporary storage solutions that maintain a set point down to -70 degrees Celsius, and can ensure end-to-end temperature control, security and traceability through state-of-the-art telematics. Additional storage solutions include refrigerated trailers, containers and portable cubes that can easily be scaled and repositioned to other locations as demand changes.
In addition to launching Cold Storage Solutions, Thermo King has helped customers identify ways to maximize the range of dry ice, which is often used in vaccine transport and storage but has certain limitations. A container using dry ice to keep a product frozen may require re-icing if it sits for an extended length of time or is exposed to extreme ambient weather. Thermo King offers storage solutions that can substantially extend the life of dry ice, or eliminate the need altogether.
“We have been engaging pharmaceutical and transport companies, policymakers, regulators and other industry partners to discuss ways to strengthen the cold chain,” said Regnery. “We know that we can help mitigate risk – we have a long history in cold chain expertise, and are actively working to innovate and address the complexities and potential challenges of the mass distribution of a temperature-sensitive vaccine.”
About Thermo King
Thermo King – by Trane Technologies (NYSE: TT), a global climate innovator – is a worldwide leader in sustainable transport temperature control solutions. Thermo King is the only company that delivers connected, end-to-end temperature-controlled transport and storage solutions across the cold chain. For more information visit www.thermoking.com or www.tranetechnologies.com.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Visit tranetechnologies.com.
Media Contact:
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+1-630-390-8011
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Investors Contact:
Zachary Nagle
+1-704-990-3913
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LONDON--(BUSINESS WIRE)--#GlobalSolarPVBacksheetMarket--Technavio has been monitoring the solar PV backsheet market and it is poised to grow by $ 2.06 bn during 2020-2024, progressing at a CAGR of almost 15% 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. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 3M Co., Agfa-Gevaert NV, Arkema SA, DuPont de Nemours Inc., Honeywell International Inc., Jolywood (Suzhou) Sunwatt Co. Ltd., Koninklijke DSM NV, KREMPEL GmbH, Nippon Light Metal Holdings Co. Ltd., and Toray Industries Inc. are some of the major market participants. To make the 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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Increasing use of thin-film solar PV modules has been instrumental in driving the growth of the market. However, backsheet-associated PV module failures might hamper market growth.
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Solar PV Backsheet Market 2020-2024: Segmentation
Solar PV backsheet market is segmented as below:
Solar PV Backsheet 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 solar PV backsheet market report covers the following areas:
This study identifies the declining cost of solar power generation as one of the prime reasons driving the solar PV backsheet 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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Solar PV Backsheet Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
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HIGHLIGHTS
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern” or the “Company”) today announced the completion of its reverse stock split and other business updates.
REVERSE STOCK SPLIT
Northern completed the previously announced 1-for-10 reverse split of its common stock. This process has been designed to reduce costs for ownership, improve Northern’s ability to participate in broad market indices, and to better represent its financial health to prospective and existing investors. The reverse split became effective at 11:59pm on September 18, 2020 and Northern’s common stock will start trading on a split-adjusted basis today.
STRATEGIC OUTLOOK
Northern’s unique non-operated model affords the Company the ability to be highly selective in its capital allocation process, both on its existing organic footprint and throughout a multitude of day to day Ground Game acquisition opportunities.
With capital becoming increasingly scarce across the E&P industry, operators and non-operators alike are turning to external parties to solve their non-operated working interest budget needs. Given this environment, Northern has a superior opportunity set to deploy capital in high return prospective projects. The pipeline of visible investment opportunities currently stands in the hundreds of millions of dollars, both in the Williston Basin as well as the Permian Basin, where Northern announced its initial acquisition on September 10th. In addition, Northern continues to expect to end 2020 with approximately 30 net wells in process.
Management remains focused on investing in assets that are in preeminent oil and gas basins, operated by best-in-class teams, and projected to meet stringent economic thresholds. To this point, any investment currently under consideration is required to be accretive to Northern’s peer leading 2019 return on capital employed (ROCE).
Armed with a growing opportunity set and a rigorous investment methodology, Northern continues to execute on its multi-year path to generate free cash flow, reduce debt, improve margins, and grow the business in a responsible manner.
RISK MITIGATION AND HEDGING UPDATE
Northern has amongst the best hedging programs in the industry. The Company remains hedged on the majority of its oil production through 2021 at attractive oil prices. Specifically, Northern has hedged an average of 24,787 barrels of oil per day for the fourth quarter of 2020 at approximately $58 per barrel and 21,393 barrels per day in 2021 at approximately $55 per barrel. This hedge profile supports management’s confidence in the Company’s ability to generate free cash flow in 2020 and beyond, underpinned by a sustaining capital program and not just a reduction of spending below maintenance levels.
With its surplus cash, Northern plans to continue to reduce outstanding borrowings. Year-to-date Northern has aggressively reduced its highest cost debt, the Senior Secured Notes, by approximately $130.0 million through exchanges and open market repurchases. As previously announced, management does not anticipate additional debt-for-equity exchanges in 2020, instead debt reduction will be driven from the Company’s cash flow. Additionally, Northern expects steady reductions to its revolver borrowings at year-end 2020 and continuing throughout 2021, inclusive of scheduled maturities.
OPERATIONS REVIEW
As previously announced on September 10th, Northern’s operations continue to improve. Northern raised its production guidance for the third quarter of 2020, with production steadily returning to sales. Pricing differentials have improved, and lease operating unit costs are expected to be down substantially since the peak of the coronavirus crisis in the second quarter of 2020. Consistent with previous guidance, Northern expects cash flow from operations to exceed that of total capital expenditures in both the third quarter and fourth quarter, as well as for the entirety of 2021. Northern’s conservative budgeting for 2020 has allowed for capital to be deployed to bolt-on acquisitions which will serve to increase cash flows and production in 2021 and beyond at high returns on capital employed.
MANAGEMENT COMMENTS
“As a company we are well aware of the challenges for energy equities,” commented Mike Kelly, EVP of Finance. “But Northern’s unique, high return business model, visible free cash flow profile, strong hedge protection, and an incredible investment opportunity set is at odds with our current equity valuation by the markets.”
“Furthermore, with a record number of high-quality wells in process we continue to position the Company for a strong recovery that can be measured through reduced indebtedness, sustained high-levels of free cash flow, and measured growth when appropriate over a multi-year period.”
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana.
More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Northern’s financial position, business strategy, plans and objectives of management for future operations and industry conditions are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Northern’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on Northern’s properties, the effects of the COVID-19 pandemic and related economic slowdown, Northern’s ability to acquire additional development opportunities, changes in Northern’s reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which Northern conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, Northern’s ability to consummate any pending acquisition transactions, other risks and uncertainties related to the closing of pending acquisition transactions, Northern’s ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Northern’s operations, products, services and prices.
Northern has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Northern’s control. Northern does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Mike Kelly
EVP, Finance
(952) 476-9800
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LONDON--(BUSINESS WIRE)--#apac--The Propane market will register an incremental spend of about $22 billion, growing at a CAGR of 2.92% during the five-year forecast period. A targeted strategic approach to Propane sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
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SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Propane market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Insights into buyer strategies and tactical negotiation levers:
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for Propane market. The report also aids buyers with relevant Propane pricing levels, pros and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfil their category objectives.
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CARNEGIE, Pa.--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) (the “Corporation” or “Ampco-Pittsburgh”) announced today that the subscription period of its previously announced rights offering expired on Friday, September 18, 2020, at 5:00 PM Eastern Time (the “Expiration Time”), and these rights are no longer exercisable.
The subscriptions totaled approximately 12.3 million units, raising gross proceeds of approximately $19.3 million, excluding any proceeds that may be received by the Corporation from the future exercise of the Series A warrants. The offering was approximately 97% subscribed. The results of the rights offering and the Corporation’s estimates regarding the aggregate gross proceeds of the rights offering to be received by Ampco-Pittsburgh are subject to finalization and verification by its subscription agent with DTC.
Ampco-Pittsburgh anticipates that closing of the rights offering will occur on or about Tuesday, September 22, 2020, subject to satisfaction or waiver of all conditions to closing. Upon the closing, the subscription agent will distribute, by way of book-entry or uncertificated form, or through the facilities of DTC, as applicable, Common Shares and Series A warrants to holders of rights who have validly exercised their rights and paid the subscription price in full. No physical stock or warrant certificates will be issued to such holders.
Ampco-Pittsburgh engaged Advisory Group Equity Services, Ltd. d/b/a RHK Capital to act as dealer-manager for the rights offering.
The offering was made pursuant to the Corporation’s registration statement on Form S-1 (File No. 333-239446), which was declared effective by the U.S. Securities and Exchange Commission on August 13, 2020. The prospectus relating to and describing the terms of the rights offering has been filed with the SEC on August 17, 2020, and is available on the SEC’s website at www.sec.gov. This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on behalf of the Corporation. The information contained in this press release may include, but are not limited to, statements about undertaking the rights offering described herein, operating performance, trends, events that the Corporation expects or anticipates will occur in the future, statements about sales and production levels, restructurings, the impact from global pandemics (including COVID-19), profitability and anticipated expenses and cash outflows. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Act and words such as “may,” “intend,” “believe,” “expect,” “anticipate,” “estimate,” “project,” “forecast” and other terms of similar meaning that indicate future events and trends are also generally intended to identify forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made, are not guarantees of future performance or expectations and involve risks and uncertainties. For the Corporation, these risks and uncertainties include, but are not limited to: cyclical demand for products and economic downturns; excess global capacity in the steel industry; increases in commodity prices or shortages of key production materials; consequences of global pandemics (including COVID-19); new trade restrictions and regulatory burdens associated with “Brexit”; inability of the Corporation to successfully restructure its operations; limitations in availability of capital to fund the Corporation’s operations and strategic plan; inability to satisfy the continued listing requirements of the New York Stock Exchange; potential attacks on information technology infrastructure and other cyber-based business disruptions; and those discussed more fully in documents filed with the SEC by the Corporation, particularly in the prospectus related to the rights offering and in Item 1A, Risk Factors, in Part I of the Corporation’s latest annual report on Form 10-K, and Part II of the Corporation’s Form 10-Q for the quarter ended June 30, 2020. The Corporation cannot guarantee any future results, levels of activity, performance or achievements. In addition, there may be events in the future that the Corporation may not be able to predict accurately or control which may cause actual results to differ materially from expectations expressed or implied by forward-looking statements. Except as required by applicable law, the Corporation assumes no obligation, and disclaims any obligation, to update forward-looking statements whether as a result of new information, events or otherwise.
Michael G. McAuley
Senior Vice President, Chief Financial Officer and Treasurer
(412) 429-2472
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DUBLIN--(BUSINESS WIRE)--The "Asset Integrity Management Services Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Service Type; Industry and Geography" report has been added to ResearchAndMarkets.com's offering.
The asset integrity management services market is estimated to reach US$ 37.92 Bn by 2027 from US$ 17.95 Bn in 2018.
Non-destructive Testing (NDT) is the most preferred asset integrity management services across industries.
The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The NDT inspection have a wide area of application owing to their ability to provide assessment without creating any disturbance to the ongoing processes or destructing the assets. Major industrial facades including energy & power plants, and on-shore and off-shore oil & gas productions.
However, ageing infrastructure not only of industrial equipment by also of the civil structures such as water supply pipelines, buildings, manufacturing hubs among others are expected to increasingly drive the demand for corrosion management AIM services. The demand for NDT testing is consistently high across industries in the developing countries and developed nation attributing to the fact that, the procedure provides enhanced reports with higher accuracy, reliable data and improved probability of detection (PoD).
Additionally, the easy affordability factor of NDT testing / inspection helps the industries to opt for the same. Moreover, this type of inspection facilitates the end user to replace or repair the machinery or the asset prior to its breakdown or malfunction. Pertaining to the fact that, several industries are increasing their operations production facilities across the globe, is catalyzing the demand for Non-destructive inspection segment, as the companies offering NDT inspection are being awarded with increased number of contracts, thereby creating substantial market space in the recent scenario.
The global market for asset integrity management services market provides detailed market segmentation by service type, industry, and geography. Based on service type, nondestructive (NDT) inspection segment dominate the asset integrity management service market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027.
On the basis of industry, oil & gas segment dominates the segment in 2018, and same is foreseen to retain its dominance throughout the forecast period. On the other hand, power segment is expected to witness a significant growth rate in the coming years. The asset integrity management service market operates in an extremely fragmented industry with huge number of smaller players capturing the market. Key players operating in the market are introducing attractive services and solution which is helping the companies to gain customer traction.
The major companies offering asset integrity management services to different industries include SGS AG, Intertek Group plc, Aker Solutions ASA, Bureau Veritas SA, Fluor Corporation, DNV GL AS, John Wood Group PLC, Oceaneering International, Inc., Rosen Group, and Cybernetix SA among others.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Asset Integrity Management Services Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.3 PEST Analysis
4. ASSET INTEGRITY MANAGEMENT SERVICES MARKET - KEY INDUSTRY DYNAMICS
4.1 Key Market Drivers
4.1.1 Increase In Need For Operational Safety Of Ageing Assets In Risk-Based Industries
4.1.2 Stringent Government Safety Regulations
4.2 Key Market Restraints
4.2.1 Cost involved in non-value added maintenance and improper operation
4.3 Key Market Opportunities
4.3.1 Surge in size of oil & gas industry with increase in demand for oil & gas
4.4 Future Trend
4.4.1 Development Of Comprehensive Asset Integrity Management System
4.5 Impact Analysis Of Drivers & Restraints
5. Asset Integrity Management Services Market - Global Analysis
5.1 Overview
5.2 Global Asset Integrity Management Services Market Revenue And Forecasts To 2027 (Us$ Bn)
6. Asset Integrity Management Services Market Revenue And Forecasts To 2027 - Service Type
6.1 Overview
6.2 Asset Integrity Management Services Market Breakdown, By Service Type, 2018 & 2027
6.3 Risk-Based Inspection (Rbi) Market
6.4 Forensic Engineering And Failure Analysis Services Market
6.5 Structural Integrity Management Market
6.6 Corrosion Management Market
6.7 Pipeline Integrity Management Market
6.8 Hazard Identification (Hazid) Study Market
6.9 Reliability-Availability-Maintainability (Ram) Study Market
6.10 Non-Destructive Testing (Ndt) Inspection Market
7. ASSET INTEGRITY MANAGEMENT SERVICES MARKET REVENUE AND FORECASTS TO 2027 - INDUSTRY
7.1 OVERVIEW
7.2 Asset Integrity Management Services Market Breakdown, By Industry, 2018 & 2027
7.3 Oil & Gas Market
7.4 Power Market
7.5 Mining Market
7.6 Aerospace Market
7.7 Marine Market
7.8 Others Market
8. Asset Integrity Management Services Market Revenue And Forecasts To 2027 - Geography
9. INDUSTRY LANDSCAPE
9.1 Market Initiative
9.2 Merger And Acquisition
9.3 New Development
10. COMPETITIVE LANDSCAPE
10.1 Competitive Product Mapping
10.2 Market Positioning - Global Top 5 Players Ranking
11. COMPANY PROFILES
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PHOENIX--(BUSINESS WIRE)--Freeport-McMoRan Inc. (NYSE: FCX) today announces its commitment to the Copper Mark. The Copper Mark is a new, comprehensive assurance framework that demonstrates the industry’s responsible production practices and contribution to the United Nations Sustainable Development Goals (SDGs). It is the first and only framework developed specifically for the copper industry and enables each site to demonstrate to customers, investors and other stakeholders their responsible production performance.
FCX has commenced the process for six of its operating sites and has future plans to validate all of its operating sites against the Copper Mark requirements.
Richard C. Adkerson, President and Chief Executive Officer, said, “I am proud to announce our commitment to the Copper Mark. Our focus on responsible production is critical to establish and maintain acceptance from our stakeholders. The Copper Mark demonstrates our responsible production practices to downstream markets, helping to meet our customers’ responsible sourcing objectives. Copper plays an essential role in the technologies necessary to develop and deliver clean energy and to support the global transition to a low-carbon economy. As the energy transition continues, copper use is expected to increase from the use of electric vehicles and their charging stations and renewable energy technologies, such as solar and wind, and their necessary connections to grids. This increased copper demand should not come at a cost to sustainability. As one of the world's largest copper producers, we understand we play a critical role in this transition, and we remain dedicated to supplying the global economy with responsibly produced copper.”
To receive the Copper Mark, copper producers must be assessed independently against a comprehensive set of environmental, social and governance (ESG) criteria on a site-by-site basis. The framework currently is focused on copper producers at the beginning of the supply chain, but it intends to develop criteria for fabricators and component producers in the coming years with the goal of establishing a chain of custody for downstream companies, such as automobile and electronics producers.
The Copper Mark was originally founded and developed by the International Copper Association, to which FCX is a member, in conjunction with various stakeholders including financial institutions, commodities exchanges, Nongovernmental Organizations, Original Equipment Manufacturers, and copper fabricators. The Copper Mark now is an independent entity and builds on the advice of its multi-stakeholder advisory council.
To learn more about the Copper Mark visit www.coppermark.org. To learn more about the United Nations Sustainable Development Goals visit https://www.un.org/sustainabledevelopment/sustainable-development-goals/.
FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.
FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. Additional information about FCX is available on FCX's website at "fcx.com."
Cautionary Statement: This press release contains forward-looking statements in which FCX discusses its potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as plans, projections, expectations, targets, objectives, strategies or goals relating to environmental, social, safety and governance performance and the underlying assumptions and estimated impacts on FCX’s business related thereto; FCX’s approach to lower carbon and reduced emissions; plans and expectations in relation to future clean energy transition including future increase in copper demand; and FCX’s aim to deliver responsibly produced copper and its Copper Mark ambitions and plans to validate all of its operating sites. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” "targets," “intends,” “likely,” “will,” “should,” “could,” “to be,” ”potential," “assumptions,” “guidance,” “future” and any similar expressions are intended to identify those assertions as forward-looking statements.
FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause FCX's actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, the factors described under the heading “Risk Factors” in FCX's Annual Report on Form 10-K for the year ended December 31, 2019, and subsequent Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, each filed with the U.S. Securities and Exchange Commission (SEC), as updated by FCX’s subsequent filings with the SEC.
Investors are cautioned that many of the assumptions upon which FCX's forward-looking statements are based are likely to change after the forward-looking statements are made. Further, FCX may make changes to its business plans that could affect its results. FCX cautions investors that it does not intend to update forward-looking statements more frequently than quarterly notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes, and FCX undertakes no obligation to update any forward-looking statements.
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Leading provider of managed IT, cloud, and application development services unifies acquired companies, nine locations under new brand, reasserts commitment to helping companies modernize technology
CHEYENNE, Wyo. & DENVER--(BUSINESS WIRE)--#GreenHouseData--Green House Data, a leading provider of digital transformation consulting and managed IT services, is rebranding to unify its recently acquired companies and nine locations throughout North America under one brand name – Lunavi. The new name reflects the company’s growth and unique ability to provide end-to-end solutions that span from migrating legacy infrastructure to the cloud to enabling cloud native, modern application development.
Since its founding in 2007, Lunavi (formerly Green House Data) has provided highly effective alternatives to conventional enterprise technology solutions. Over the past six years, the company steadily expanded service offerings in Microsoft Azure, modern apps, security, and disaster recovery through seven acquisitions, and doubled its employee headcount. At the same time, it deepened its talent bench, expanded partnerships and almost doubled its multi-year development deals with clients in technology, energy, financial services, healthcare, and others. As its client roster and employee numbers grew, so did its locations throughout North America in Denver; Cheyenne, WY; Omaha, NE (through its acquisition of Deliveron); Atlanta; Seattle, and Toronto.
The company’s new name, Lunavi, combines two critical attributes "Lu" meaning light and "Navi" meaning navigation. Together, they describe how the company works to collectively illuminate the path forward to help clients navigate what's next, spotlighting the company’s mission to help enterprises modernize technology, extract measurable ROI, and deliver an exceptional customer experience.
“As organizations look to digitally transform their businesses to become more nimble, cost-efficient, and competitive, Lunavi is in a unique position to provide the ‘best of both worlds.’ We have the breadth of capabilities and scale to handle complex modern application design as well as wholesale migration to the cloud while providing the attentive, customer-centric focus of a boutique organization,” said Lunavi CEO Shawn Mills. “2020 has been a challenging year for many, and companies are looking for new ways to better address customers’ needs, create value, and position themselves for growth. That’s what we do for our clients.”
According to Gartner’s Executive Leadership: Digital Business Transformation Primer for 2020, “83% of board directors globally say digital technology will lead to substantial or complete industry transformation.”
Lunavi is a Microsoft Gold Partner, Azure Expert MSP, and VMWare Cloud Verified partner offering deep expertise in the Microsoft ecosystem and enterprise IT software and services.
About Lunavi
Lunavi, formerly Green House Data, helps companies to digitally transform their businesses and illuminate the path forward in IT modernization through the power of human ingenuity. Lunavi helps organizations in technology, energy, financial services, healthcare, education, and others to develop business applications, solve traditional IT challenges, and extract ROI with comprehensive services in cloud migration, modern application development, and managed services. With nine locations throughout North America in Denver; Cheyenne, WY; Omaha, NE; Atlanta; Seattle, and Toronto, and its status as a Microsoft Gold Partner, Lunavi delivers a remarkable customer experience to help navigate what’s possible, what’s next. Visit www.Lunavi.com, on LinkedIn, Facebook, and Twitter.
Media Contact:
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil and Global Thermostat have expanded their joint development agreement following 12 months of technical evaluation to determine the feasibility and potential scalability of Global Thermostat’s technology that captures carbon dioxide (CO2) directly from the air.
“ExxonMobil’s scientists continue to research technology options aimed at reducing emissions at scale, which are key to achieving the goals of the Paris Agreement,” said Vijay Swarup, vice president of research and development for ExxonMobil Research and Engineering Company. “Our work with Global Thermostat has shown promising signs in the development of direct air capture technologies that could be brought to scale. We look forward to seeing how new materials might accelerate this potential, while also continuing our research that captures CO2 from power generation facilities.”
The United Nations Framework Convention on Climate Change has said that CO2 capture, use and storage “is a key technology for the decarbonization of the energy sector in the long term.” In addition, the International Energy Agency recognizes that CO2 removal is expected to play a “key role” in the energy transition.
Global Thermostat’s CO2 capture uses proprietary amine-based adsorbents to remove CO2 from the air. These compounds act together like a filter to efficiently capture CO2, which can then be stored safely underground, used to make chemicals, consumer products or construction materials.
“Global Thermostat is dedicated to addressing the risks of climate change and doing so in a way that creates global prosperity by working with others who have technology to transform the CO2 into fuels, chemicals and materials,” said Peter Eisenberger, chief science officer of Global Thermostat. “We look for companies that want to help us in our mission. After a year of working with ExxonMobil, we recognize our shared objective and they certainly have the capabilities we do not have. We are excited about continuing our work together to scale our technology and welcome others to join us.”
ExxonMobil has a strong network of research partnerships across universities and national labs. As a part of the joint development agreement with Global Thermostat, ExxonMobil will leverage this network and engage the expertise of university partners that have strong expertise in material science and the U.S. Department of Energy’s National Labs that offer expertise in CO2 capture and utilization. Global Thermostat will also engage its network of universities and industrial partners to help scale its technology.
The original agreement with Global Thermostat was signed in 2019.
About ExxonMobil
ExxonMobil (XOM), one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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About Global Thermostat
Formed in 2010, Global Thermostat (GT) is commercializing its advanced, multi-patented technology to transform carbon dioxide from a global liability into an opportunity for global prosperity. Using its proven, breakthrough technology, GT economically captures and concentrates CO2, enabling its profitable re-use across multiple large & growing industries – including materials which sequester the CO2, which is needed to address climate change.
Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, scaling and expanding current research, the impacts of new technologies, and the creation of new sources of supply for industrial processes, could vary depending on the outcome of further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; political and regulatory developments; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
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SEOUL, South Korea--(BUSINESS WIRE)--#HydraulicCylinder--The Korean government will implement the ‘Materials, Parts, and Equipment 2.0’ policy in order to diversify the supply network of the manufacturing industry in the post-COVID-19 era. This policy is aimed at fostering domestic businesses in the fields of materials, parts, and equipment, which serve as a basis for finished products.
In line with the government’s policy, KCC Co., Ltd., a pneumatic parts supplier in Korea, has been embarked on implementing an aggressive business strategy to dominate the future market following the COVID-19 pandemic.
KCC's B10 Series from the secondary battery production line is an essence of state-of-the-art technologies developed to meet the latest trend. The pneumatic/hydraulic cylinders, grippers, pneumatic valves, pneumatic purification devices, and vacuum pumps and pads, etc. included in B10 Series are products developed in response to the secondary battery and bipolar materials fields.
KCC’s key products are pneumatic/hydraulic cylinders applied to the transportation system, grippers that function like human fingers, pneumatic solenoid valves to regulate the actuator operation by controlling the supplied air, pneumatic purification devices to increase lifespan of equipment by controlling air quality, as well as vacuum pumps, pads, and fittings. These products are applied to mechanical, electronic, semiconductor or steel facility transportation lines in factories, power generation facilities, and system facilities for steel making, engineering, construction, and tire manufacturing.
KCC began supplying overhaul materials to Yeongheung Power Division Units 3 in 2011. It then exhibited products at the power generation industry hall of Seoul International Electric Fair in 2013 and implemented the Management Supporters project and the KOEN World Class–30 project in 2014 and 2017 respectively. KCC is also participating in a project promoted by Korea South–East Power. Recently, KCC has won recognition for its technological power by being selected for the Hi Seoul, the Excellent Company Brand of Seoul certified by the Seoul Metropolitan Government and Seoul Business Agency, and as the Global Small Giant for 2020, and winning the SMEs and Startups Minister’s Award, the Trade, Industry, and Energy Minister’s Award at the Korea Precision Industry Technology Awards, and the Citation of the Chairman of Korea Packaging Machinery Association.
KCC Co., Ltd.
Hyojin Kim
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JERICHO, N.Y.--(BUSINESS WIRE)--Getty Realty Corp. (NYSE: GTY) announced today that Danion Fielding, the Company’s Vice President, Chief Financial Officer and Treasurer, intends to resign later this year for personal reasons. Current plans call for Mr. Fielding to continue to serve in his role until a successor can be found. Mr. Fielding’s departure is not based on any disagreement with the Company’s accounting principles, practices or financial statement disclosures.
In connection with Mr. Fielding’s departure, Getty has commenced a search for a new Chief Financial Officer and Treasurer.
Forward-Looking Statements
CERTAIN STATEMENTS CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. WHEN THE WORDS “BELIEVES,” “EXPECTS,” “PLANS,” “PROJECTS,” “ESTIMATES,” “ANTICIPATES,” “PREDICTS” AND SIMILAR EXPRESSIONS ARE USED, THEY IDENTIFY FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON MANAGEMENT’S CURRENT BELIEFS AND ASSUMPTIONS AND INFORMATION CURRENTLY AVAILABLE TO MANAGEMENT AND INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL EVENTS TO BE MATERIALLY DIFFERENT FROM FUTURE EVENTS EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. EXAMPLES OF FORWARD-LOOKING STATEMENTS INCLUDE, BUT ARE NOT LIMITED TO, THOSE MADE REGARDING MR. FIELDING’S INTENDED RESIGNATION FROM GETTY.
INFORMATION CONCERNING FACTORS THAT COULD CAUSE THE COMPANY’S ACTUAL EVENTS TO DIFFER MATERIALLY FROM THESE FORWARD-LOOKING STATEMENTS CAN BE FOUND IN THE COMPANY’S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO PUBLICLY RELEASE REVISIONS TO THESE FORWARD-LOOKING STATEMENTS TO REFLECT FUTURE EVENTS OR CIRCUMSTANCES OR REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
About Getty Realty Corp.
Getty Realty Corp. is the leading publicly traded real estate investment trust in the United States specializing in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2020, the Company owned 857 properties and leased 59 properties from third-party landlords in 35 states across the United States and Washington, D.C.
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World’s largest retailer targets zero emissions by 2040 and aims to protect, manage or restore at least 50 million acres of land and one million square miles of ocean by 2030
BENTONVILLE, Ark.--(BUSINESS WIRE)--Building on more than 15 years of sustainability leadership, Walmart today announced it is doubling down on addressing the growing climate crisis by targeting zero emissions across the company’s global operations by 2040. Walmart and the Walmart Foundation are also committing to help protect, manage or restore at least 50 million acres of land and one million square miles of ocean by 2030 to help combat the cascading loss of nature threatening the planet.
“We want to play an important role in transforming the world’s supply chains to be regenerative. We face a growing crisis of climate change and nature loss and we all need to take action with urgency,” said Doug McMillon, president and chief executive officer, Walmart, Inc. “For 15 years, we have been partnering to do the work and continually raising our sustainability ambitions across climate action, nature, waste and people. The commitments we’re making today not only aim to decarbonize Walmart’s global operations, they also put us on the path to becoming a regenerative company – one that works to restore, renew and replenish in addition to preserving our planet, and encourages others to do the same.”
To avoid the worst effects of climate change, the world must take immediate action to drastically reduce and remove greenhouse gas emissions. That’s why Walmart is building on its long-standing commitment to climate action by raising its ambition to zero emissions by 2040, without the use of carbon offsets, across its global operations by:
The world has also pushed its natural resources to the point of crisis, resulting in the degradation and loss of critical landscapes and the eradication of many species of plants and animals. In fact, studies show animal populations have declined by over 60% in just over 40 years and one-fifth of the Amazon’s rainforest has disappeared in just 50 years. Not only can a regenerative approach to nature help reverse these negative impacts and sustain critical resources for the future, it can also provide around a third of the solution to climate change.
“We must all take urgent, sustained action to reverse nature loss and emissions before we reach a tipping point from which we will not recover,” said Kathleen McLaughlin, executive vice president and chief sustainability officer for Walmart, Inc. and president of the Walmart Foundation. “People have pushed past the earth’s natural limits. Healthy societies, resilient economies and thriving businesses rely on nature. Our vision at Walmart is to help transform food and product supply chains to be regenerative, working in harmony with nature – to protect, restore and sustainably use our natural resources.”
Recognizing the need to act now, along with the Walmart Foundation, Walmart aims to protect, manage or restore some of the world’s most critical landscapes by:
Walmart’s Doug McMillon will share the news during the opening ceremony of Climate Week NYC. The announcement comes one day prior to the retailer’s annual Sustainability Milestone Summit, to be held during Climate Week’s Hub Live, where the company will engage Walmart associates, suppliers, NGOs and other stakeholders to advance sustainability in the retail and consumer goods sector.
For more than 15 years, Walmart has been collaborating with others to drive positive change across global supply chains. The company’s sustainability efforts prioritize people and the planet by aiming to source responsibly, sell sustainable products, protect natural resources and reduce waste and emissions. To date, Walmart powers around 29% of its operations with renewable energy and diverts approximately 80% of its waste from landfills and incineration globally. Because most of the company’s environmental impact comes from its supply chain, Walmart is also working with suppliers through its Project Gigaton initiative to avoid a gigaton of greenhouse gas emissions by 2030. More than 2,300 suppliers have signed on, and since the effort launched in 2017, suppliers report a total of 230 million metric tons of avoided emissions.
Learn more about Walmart’s new zero emissions and nature commitments here.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, over 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. With fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
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Joint venture selected as EPC provider for construction of 900-MW gas-fired Cascade Power Plant in support of province’s decarbonization goals
OVERLAND PARK, Kan.--(BUSINESS WIRE)--BPC, a joint venture between Black & Veatch and PCL Industrial Management, has been selected to construct a 900-megawatt (MW), low-carbon natural gas combined cycle generating facility in Alberta under an EPC contract with Alberta-based developer Kineticor Resource Corp. BPC, which has a proven track record of delivering critical engineering, procurement and construction (EPC) projects, will help the Canadian province pursue decarbonization by transitioning away from coal-fired power.
The Cascade Power Plant, which will be located southwest of Edson, Alberta, is expected to help lead the province’s transition to a lower-carbon future by reducing greenhouse gas emissions from traditional power generation. The plant will rely on two SCC6-8000H gas turbines in a single-shaft combined cycle configuration with air-cooled condensers provided by Siemens Energy to offer a highly efficient, low-emissions power supply that should satisfy 8 percent of the province’s average power demand.
“Pairing Black & Veatch’s deep expertise in EPC and natural gas power generation with PCL’s position as the most experienced constructor in Alberta created a winning combination,” said Andrew Plaunt, CEO of Kineticor. “We’re pleased to have these two industry leaders on board, as this project will provide enormous benefit to the environment and the local economy.”
The project is strategically situated near high-voltage transmission lines and significant natural gas production, including Western Canada’s extensive NGTL System, which collects and transports gas from the Western Canadian Sedimentary Basin (WCSB).
Construction will start immediately, and commercial operations are expected to commence in 2023. With more than 3 million labor hours required for construction, the project will benefit the local economy by creating approximately 600 jobs during peak construction and 25 long-term positions during operation.
“Our client Kineticor sought a power plant solution that would allow them to deliver cleaner energy to the residents of Alberta, fulfilling a growing need to decarbonize their energy supply across the province,” said Mario Azar, president of Black & Veatch’s power business. “The Cascade project builds upon Black & Veatch and PCL’s long-standing success as joint venture partners with an established track record of delivering complex power infrastructure projects safely, on-time and on-budget in the U.S. and Canada.”
“We are proud to once again partner with Black & Veatch and to pair our EPC experience and expertise in building and delivering effective, large-scale power facilities,” said Roger Keglowitsch, COO, Heavy Industrial at PCL. “We’re looking forward to working together again to deliver a cleaner, more sustainable power solution that will help meet Alberta’s energy needs.”
Most recently, the BPC team completed the H.R. Milner Unit 2 simple cycle gas-fired plant in May 2020, located near Grande Cache, Alberta. The project was completed by the team in just 17 months, safely and ahead of schedule.
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
About PCL
PCL is a group of independent construction companies that carries out work across Canada, the United States, the Caribbean, and in Australia. These diverse operations in the civil infrastructure, heavy industrial, and buildings markets are supported by a strategic presence in 31 major centers. Together, these companies have an annual construction volume of $8 billion, making PCL the largest contracting organization in Canada and one of the largest in North America. Watch us build at PCL.com.
Black & Veatch Media Contact Information:
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PCL Media Contact Information:
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Hanover County-based solar development to generate more than 45,000 megawatt hours of electricity per year to help power Anthem offices and data centers
RICHMOND, Va.--(BUSINESS WIRE)--In 2019, Anthem, Inc. (NYSE: ANTM) made the commitment to invest in and source 100 percent renewable energy by 2025. As a key step in that strategy, Anthem has announced it has signed a 15-year power purchase agreement with SunEnergy1, a top U.S. solar developer, owner and operator of utility-scale solar projects. The agreement is for the output from a new 182-acre (20-megawatt) solar field located in Hanover County, Virginia.
The Hanover County solar field is nearly complete and expected to be fully operational later this year. Combined with an additional solar field in North Carolina coming online in early 2021, Anthem will have supported the development of more than 1,000 acres of solar panels that will generate more than 225,000-megawatt hours of electricity per year.
The Virginia and North Carolina solar field locations were selected based on Anthem’s material load (major office and data center footprint) in the grid zone that includes both states. Anthem expects the solar field developments to generate enough renewable electricity to power all Anthem offices and data centers across the country.
“As we enter Climate Week, we’re celebrating an important step forward in achieving our renewable energy goal and are proud that Virginia is playing a large role as we increasingly focus on improving the sustainability of our operations and our business,” said Jeff Ricketts, president, Anthem Blue and Blue Shield in Virginia. “By addressing environmental health, we can improve lives and the health of communities in our state and across the country and set the example for others to follow.”
Not only is clean energy good for the environment, it is good for business. Anthem is proud to be a part of Virginia Governor Ralph Northam’s work to advance clean energy in the Commonwealth. Today, Governor Northam visited the Anthem solar development and spoke to his administration’s work to promote a healthier environment and address climate change.
"Clean energy will power the future, and Virginia is leading the way," said Governor Ralph Northam, who signed the Virginia Clean Economy Act into law earlier this year. The new law is one of the most sweeping clean energy laws in the country, promoting energy efficiency, setting a schedule for closing old fossil fuel power plants, and requiring electricity to come from 100 percent renewable sources such as solar or wind. "Since I took office, our administration has worked constantly to create new clean energy opportunities, and to make sure that Virginia is at the forefront of clean energy innovation. Virginia will power the grid with 100 percent clean energy in the years to come, thanks to this transformative new law and a comprehensive energy plan. It's good to see employers like Anthem choose renewable energy, and we congratulate them on being part of the solution."
“Today’s announcement is one important step to achieving our goal of 100 percent renewable energy,” said Ricketts. “We know there is much work to do in the future and our hope is we can continue to impact change and set an example for the entire healthcare industry.”
About Anthem, Inc.
Anthem is a leading health benefits company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Anthem serves more than 106 million people, including more than 42 million within its family of health plans. We aim to be the most innovative, valuable and inclusive partner. For more information, please visit www.antheminc.com or follow @AnthemInc on Twitter.
Anthem, Inc.
Scott Golden
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Highlights:
MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) has entered into a long-term virtual power purchase agreement for renewable energy to help reach its emissions reduction goal. The company plans to reduce its greenhouse gas (GHG) emissions companywide by nearly 30% by 2026.
L3Harris signed the virtual power purchase agreement with energy provider Lightsource bp for up to 100 megawatts of capacity from a new solar farm expected to begin operation in the second half of 2021. The company will receive renewable energy certificates from the solar project to reduce GHG emissions from its overall operations. L3Harris’ agreement is the equivalent of eliminating about 110,000 metric tons of CO2 per year or removing 24,000 cars from the road every year.
“We are committed to business practices that support a sustainable global environment,” said William M. Brown, Chairman and Chief Executive Officer. “The renewable energy agreement is part of our broader sustainability strategy to reduce greenhouse gas emissions and our overall environmental impact.”
The agreement enables Lightsource bp to finance and construct the Elm Branch solar project, which is scheduled to break ground later this year in Texas.
“The renewable energy sector is helping businesses meet their sustainability goals while advancing our transition toward low carbon and creating meaningful economic benefits for communities around the country,” said Kevin Smith, CEO of Lightsource bp for the Americas. “This agreement with L3Harris is supporting development of new solar energy infrastructure in Texas that will provide a clean and economic source of electric power while creating hundreds of jobs in the greater Dallas Fort Worth area.”
L3Harris selected the Lightsource bp solar farm following a competitive procurement process led by energy advisor Customer First Renewables.
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 reductions in greenhouse gas emissions are forward-looking and involve risks and uncertainties. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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Corporate Media Relations
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Corporate Media Relations
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Finalists and nominees reimagine regional landscapes and economic vitality with an emphasis on pioneering rail transportation
WASHINGTON--(BUSINESS WIRE)--Headline of release should read: CG/LA Awards Identify Groundbreaking Advancements and Engineering Firsts at the 13th Global Infrastructure Leadership Forum. Also, the second paragraph, first sentence should read: The Infrastructure Project of the Year Awards, which are sponsored by leading capital project management software provider Oracle Construction and Engineering, are one of the highlights of every Leadership Forum event.
The updated release reads:
CG/LA AWARDS IDENTIFY GROUNDBREAKING ADVANCEMENTS AND ENGINEERING FIRSTS AT THE 13TH GLOBAL INFRASTRUCTURE LEADERSHIP FORUM
Finalists and nominees reimagine regional landscapes and economic vitality with an emphasis on pioneering rail transportation
CG/LA, the global leader in infrastructure strategy and project development announced the winners of the 2020 Infrastructure Project of the Year Awards at the 13th Global Infrastructure Leadership Virtual Forum.
The Infrastructure Project of the Year Awards, which are sponsored by leading capital project management software provider Oracle Construction and Engineering, are one of the highlights of every Leadership Forum event. Announced on September 17 th, the awards recognize the projects - and the leaders behind the projects - identified as global models. The projects are highlighted for their outstanding commitment across five categories: Job Creation, Sustainability/Green Infrastructure, Finance/Funding, Engineering, and Strategic. This year’s winners are:
ABOUT THE 13TH GLOBAL INFRASTRUCTURE LEADERSHIP FORUM
Convening leaders in transportation, finance, policy, engineering, technology, construction, energy, law, and hydroelectricity from more than 20 countries across both private and public sectors, the annual Global Infrastructure Leadership Forum highlights leading-edge strategies that propel the advancement of our built environment around the world. For more information, click here.
ABOUT CG/LA INFRASTRUCTURE
For three decades CG/LA Infrastructure has served as the foremost thought leader on global infrastructure investment and strategic project development. Headquartered in Washington, DC, CG/LA works with leading infrastructure executives, project owners, policymakers, investors, innovators, design practitioners, and risk specialists from over 30 countries across the public and private spectrum. The firm's globally-recognized Leadership Forum series highlights leading-edge strategies and compelling infrastructure projects accelerating global mobility, sustainability, and overall social impact. See more on CG/LA here.
MEDIA CONTACT
Brent Harrison
CG/LA Infrastructure
Deputy Director of Projects
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