HENGELO, the Netherlands--(BUSINESS WIRE)--Damen Schelde Naval Shipbuilding and Thales signed on November 17, 2020, the contract for the delivery and full integration of Thales’s Mission and Combat System for the four MKS 180 class frigates contracted by the German Navy. The system will be designed by Damen and completely built by German shipyards, under Damen’s project management.
Valued at €1.5B, the contract illustrates Thales’s leading position in naval global integration. It will be executed by Thales’s naval Centers of Excellence in Hengelo (the Netherlands), Kiel and Wilhelmshaven (Germany) in cooperation with a substantial number of German subcontractors.
Underpinning this contract is the proven cooperation of German and Dutch naval industries, including numerous joint opportunities for Damen and Thales in the Netherlands to innovate within naval shipbuilding projects, often with the participation of the Netherlands’ Ministry of Defence. The project underscores Damen’s and Thales’s ambition to build further cooperation with shipyards and partnering industries in high-end European naval programmes.
Thales’s Mission and Combat System includes the comprehensive Tacticos Combat Management System and the AWWS (Above Water Warfare System) Fire Control Cluster. The contract includes four ship systems, logistic services and multiple land-based test and training sites, as well as the option for one or two additional ships.
AWWS is a cutting-edge warfare suite that helps the ship crews to counter and neutralise complex saturation attacks by continuously analysing and optimising the tactical environment and deployment of resources. AWWS will be combined with APAR* Bl2, the evolved version of Thales’s proven AESA* multifunction radar. In 2019, Thales signed an AWWS development contract for the new M-frigates for the Belgian and Dutch Navies.
In the past years, Thales has been awarded several large contracts by European NATO navies, thanks to innovative solutions and its proven reliability as an industrial partner. These contracts have made Thales the de facto naval combat system partner of NATO.
The first ship of the MKS 180 class will be operational in 2028. The entire programme will run for over ten years.
“Winning such a substantial contract within the strict framework of an objective scoring system reinforces our global leading position in high-end naval integration. Thanks to our innovative capabilities, the German Navy will be able to execute both current and future tasks whilst substantially contributing to stability in the operational theatres all over the world.” Gerben Edelijn, CEO of Thales Netherlands.
“As a partner in the MKS 180 programme, Thales Deutschland not only contributes to a high German value-added share, but also brings many years of experience in European cooperation and proven systems expertise. This programme will create new, high-quality jobs in Germany, within an exemplary framework of European defence cooperation. We will also contribute to maintaining the German Navy's operational capability at the highest level within the alliance,” Dr. Christoph Hoppe, CEO of Thales Deutschland.
“We are very honoured by this notification which further solidifies our long-standing cooperation with the German Navy and Damen. We sincerely thank our customers for their continued trust. This huge contract anchors our position as global leader in high-end naval systems integration. The German Navy will benefit from cutting-edge technological systems thanks to the diversity of talents at Thales”. Patrice Caine, Chairman and CEO of Thales.
* APAR: Active Phased Array Radar
* AESA: Active Electronically Scanned Array
About Thales
Thales (Euronext Paris: HO) is a global technology leader shaping the world of tomorrow today. The Group provides solutions, services and products to customers in the aeronautics, space, transport, digital identity and security, and defence markets. With 83,000 employees in 68 countries, Thales generated sales of €19 billion in 2019 (on a pro forma basis including Gemalto over 12 months).
Thales is investing in particular in digital innovations — connectivity, Big Data, artificial intelligence and cybersecurity — technologies that support businesses, organisations and governments in their decisive moments.
Thales in the naval domain
With more than 50 years of experience as a provider of naval equipment, systems and services, Thales offers naval forces around the world unrivalled expertise and proven operational benefits. Thales understands how naval and maritime affairs are evolving today, and leverages those insights to help ensure the success of a broad range of naval missions around the world. Thales air defence, surface defence, anti-submarine warfare and maritime safety & security systems are now in service with more than 50 navies.
Thales in the Netherlands
In the Netherlands, Thales employs about 2.200 staff members in Hengelo, Enschede, Huizen, Delft, The Hague and Eindhoven. They are contributing to the development, production and integration of complex systems for defence, transport and security. such as Command & Control, public transport chipcard, communication systems and cyber security.
Thales in Germany
Thales Deutschland is one of the largest national subsidiaries of the Thales group and employs 3,800 persons at 11 locations and carries out its own manufacturing and development. In 2019, Thales Deutschland generated sales of EUR 1.2 billion, predominantly German value added. Thales Deutschland, an integrated German electronics corporation and systems house, is a model of German engineering tradition. As a recognized member of Germany's high-tech industry, Thales Deutschland offers its customers at home and abroad state-of-the-art, highly secure and ultra-reliable communications, information and control systems, as well as services for secure ground, air and sea transportation, for both civilian and military security and protection needs. In addition, Thales Deutschland has a comprehensive portfolio of IT solutions for cyber security.
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HOUSTON--(BUSINESS WIRE)--NexTier Oilfield Solutions Inc. (NYSE: NEX) (“NexTier”) and National Oilwell Varco, Inc. (NYSE: NOV) (“NOV”) today announced that the two companies recently entered into an agreement to collaboratively field test NOV’s electric fracturing system known as the Ideal™ eFrac fleet.
The Ideal eFrac fleet provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity at the well site.
Under the terms of the agreement, NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. The agreement provides NexTier the option to transform from the test phase to the future purchase of the first Ideal eFrac fleet manufactured by NOV.
“NexTier is excited to partner with a company the caliber of NOV as we explore potential additional wellsite emissions reducing technologies to complement our market leading dual fuel gas powered fleet,” said Robert Drummond, President and Chief Executive Officer of NexTier. “This partnership to test NOV’s advanced eFrac technology progresses our journey of identifying the best solutions for NexTier and its customers, and evidences our commitment to further reducing our carbon footprint. By aligning with a quality partner like NOV and its Ideal technology, we have the ability to significantly lower the risk associated with next generation eFrac adoption and its deployment. We are proud of our progress and commitment to provide innovative solutions for the benefit of customers, employees, communities and investors.”
“We appreciate the opportunity to advance our Ideal e-Frac technology with the help of the team at NexTier, a leading provider of completions services to the oil and gas industry,” said Clay Williams, President and Chief Executive Officer of NOV. “NexTier is helping make completions technologies cleaner, quieter, and more efficient, which are solutions that oil and gas producers increasingly prefer. Utilizing abundant natural gas to generate electricity, and applying NOV’s technology to drive clean, quiet operations, further strengthens NexTier’s position as an industry leader.”
About NexTier Oilfield Solutions
Headquartered in Houston, Texas, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across the most active and demanding basins. Our integrated solutions approach delivers efficiency today, and our ongoing commitment to innovation helps our customers better address what is coming next. NexTier is differentiated through four points of distinction, including safety performance, efficiency, partnership and innovation. At NexTier, we believe in living our core values from the basin to the boardroom, and helping customers win by safely unlocking affordable, reliable and plentiful sources of energy.
About NOV
NOV is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field drilling, completion, and production needs. Since 1862, NOV has pioneered innovations that improve the cost-effectiveness, efficiency, safety, and environmental impact of oil and gas operations. NOV powers the industry that powers the world. Visit www.nov.com for more information. Information on the Company’s website is not part of this release.
NexTier Investor Contact:
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LONDON--(BUSINESS WIRE)--#CorrosionResistantAlloysMarket--Technavio has been monitoring the corrosion resistant alloys market and it is poised to grow by USD 2.61 billion during 2020-2024, progressing at a CAGR of almost 7% 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.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AMG Advanced Metallurgical Group NV, Berkshire Hathaway Inc., Carpenter Technology Corp., Corrotherm International Ltd., Eramet Group, Haynes International Inc., Hitachi Ltd., Mitsubishi Corp., Nippon Steel Corp., and Tenaris SA 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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Growing shale gas exploration has been instrumental in driving the growth of the market. However, fluctuation in raw material prices might hamper the market growth.
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Corrosion Resistant Alloys Market 2020-2024: Segmentation
Corrosion Resistant Alloys Market is segmented as below:
Corrosion Resistant Alloys 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 corrosion resistant alloys market report covers the following areas:
This study identifies the growing demand for corrosion resistant alloy as one of the prime reasons driving the Corrosion Resistant Alloys Market growth during the next few years.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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Growing specialty materials portfolio addresses sustainable POM product options
DALLAS--(BUSINESS WIRE)--$CE #Celanese--Demand for materials with renewable content and lower environmental impact is growing across customer segments. Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today launched a sustainable polyacetal (POM) product offering known as POM ECO-B to support the growing demand.
POM ECO-B allows customers to realize reduction in carbon dioxide emission in their end-use products and advance toward their renewable content goals. Celanese believes that this offering has a strong value proposition for customers in the automotive, consumer products and medical device industries where footprint reduction or renewable content is important.
Celanese’s POM ECO-B contains up to 97% bio-content via a mass-balance approach as certified by the International Sustainability and Carbon Certification (ISCC+). It reduces carbon dioxide footprint per kilogram of POM polymer by more than half without any impact on properties or need for requalification.
“Celanese is committed to enhancing our specialty materials product offerings and capabilities through ongoing investments in sustainable product developments. Today’s launch of Celanese POM ECO-B is yet another example of our focus on developing functionalized grades that meet rigorous technical specifications while offering eco-friendly content options for customers,” said Tom Kelly, Senior Vice President, Engineered Materials, Celanese.
Product Availability & Contacts
To further discuss POM ECO-B, please reach out to a Celanese commercial representative via the following regional email contacts:
For more information on product features and benefits, please visit the following website: https://www.celanese.com/engineered-materials/products/Hostaform-POM--Celcon-POM/hostaform-pom-eco-b.
For additional information regarding Celanese’s sustainability efforts and products, visit https://www.celanese.com/sustainability/.
About Celanese
Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
Forward-Looking Statements: This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from the forward-looking statements contained in this release. Risk factors include those that are discussed in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
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Henkel is taking real, science-based, high-impact actions, including deploying renewable energy, investing in sustainable buildings, and mobilizing supply chains to tackle climate change
Signify, which already achieved carbon neutrality earlier this year, is joining The Climate Pledge to collaborate with other signatories and share best practices
The Climate Pledge, a commitment co-founded by Amazon and Global Optimism, calls on signatories to take urgent action to meet the Paris Agreement 10 years early
SEATTLE--(BUSINESS WIRE)--Today, Amazon (NASDAQ: AMZN) and Global Optimism announced that Henkel has joined The Climate Pledge, a commitment to be net-zero carbon by 2040—a decade ahead of the Paris Agreement’s goal of 2050. Signify, which already achieved carbon neutrality earlier this year, is also joining The Climate Pledge to collaborate with other signatories and share best practices.
Signatories to The Climate Pledge agree to:
“By signing The Climate Pledge, companies around the world are taking collective action to protect our planet from the catastrophic impacts of climate change,” said Jeff Bezos, Amazon founder and CEO. “We welcome Henkel as they join us in our commitment to be net-zero carbon by 2040, a decade ahead of the Paris Agreement. We are also excited for Signify, which achieved carbon neutrality earlier this year, to join The Climate Pledge with the goal of collaborating with other signatories and sharing best practices. These companies are demonstrating important leadership as they help us accelerate the transition to a low-carbon economy and protect the planet for future generations.”
Henkel’s commitment to leadership in sustainability has been embedded in its corporate culture for decades. The company has been working closely with Amazon to promote sustainable innovation—for example, to enhance customer experience through new and sustainable packaging. Henkel’s long-term goal is to become climate-positive by 2040. In the near term, the company plans to reduce the carbon footprint of its production by 65% by 2025 and 75% by 2030. By 2030, 100% of the electricity Henkel uses to power its operations will come from renewable sources. And by 2040, Henkel aims to have converted all remaining fossil fuels used in production to climate-neutral alternatives and supply surplus carbon-neutral energy to third parties. In addition, Henkel wants to leverage its brands and technologies to help customers, consumers, and suppliers save 100 million tons of CO2 in a ten-year period from 2016 to 2025.
"Climate change is a global challenge, which requires our collective action. At Henkel, we want to make a positive contribution to protecting the climate. Based on our achievements to date and in line with our ambitions for the coming years, we are pleased to join and support The Climate Pledge," said Henkel CEO Carsten Knobel. “Together with Amazon, Global Optimism, and the other signatories, we are committed to drive tangible progress and jointly take action to limit global warming.”
Signify, the world leader in lighting, is another new member of The Climate Pledge. At the United Nations Climate Change Conference (COP 21), in Paris, in December 2015, Signify committed to achieve carbon neutral operations in 2020. Last September, it announced that it had reached this milestone and plans to double its positive impact on the environment and society by 2025. Signify will join The Climate Pledge to share its experience, and to help and encourage other signatories to advance their own carbon reduction programs.
“We are pleased to join The Climate Pledge community as it mobilizes companies to meet the goals of the Paris Agreement 10 years early,” said Harry Verhaar, Signify Head of Global Public and Government Affairs. “We are committed to sharing best practices with other companies from our own journey to carbon neutrality in 2020, and to ramp up our positive impact on the environment and society.”
“The Paris Agreement set out a unifying roadmap for all countries, all companies, and all people to address the climate crisis by taking actions to ensure we do not exceed 1.5C in global warming,” said Christiana Figueres, the UN’s former climate change chief, now founding partner of Global Optimism. “By joining The Climate Pledge, these companies are demonstrating both their ambitions for the future and for recovery now. Their actions and investments are creating sorely needed jobs, spurring innovation, regenerating the natural environment, and helping their consumers to buy more sustainable products. The growing collective of companies joining The Climate Pledge, acting in accordance with science, is cause for optimism.”
Last year, Amazon and Global Optimism co-founded The Climate Pledge, a commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. Amazon was the first signatory and thirteen organizations have now signed The Climate Pledge including: Amazon, Best Buy, Henkel, Infosys, McKinstry, Mercedes-Benz, Oak View Group, Real Betis, Reckitt Benckiser, Schneider Electric, Siemens, Signify, and Verizon—sending an important signal that there will be rapid growth in demand for products and services that help reduce carbon emissions.
About Henkel
Henkel operates globally with a well-balanced and diversified portfolio. The company holds leading positions with its three business units in both industrial and consumer businesses thanks to strong brands, innovations and technologies. Henkel Adhesive Technologies is the global leader in the adhesives market – across all industry segments worldwide. In its Laundry & Home Care and Beauty Care businesses, Henkel holds leading positions in many markets and categories around the world. Founded in 1876, Henkel looks back on more than 140 years of success. In 2019, Henkel reported sales of more than 20 billion euros and adjusted operating profit of more than 3.2 billion euros. Henkel employs more than 52,000 people globally – a passionate and highly diverse team, united by a strong company culture, a common purpose to create sustainable value, and shared values. As a recognized leader in sustainability, Henkel holds top positions in many international indices and rankings. Henkel’s preferred shares are listed in the German stock index DAX. For more information, please visit www.henkel.com.
About Signify
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2019 sales of EUR 6.2 billion, we have approximately 37,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in 2020 and have been named Industry Leader in the Dow Jones Sustainability Index for three years in a row. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
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HOUSTON--(BUSINESS WIRE)--Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) (“Solaris”) announced today that its Board of Directors has declared a quarterly cash dividend of $0.105 per share of Class A common stock, to be paid on December 7, 2020 to holders of record as of November 27, 2020. A distribution of $0.105 per unit has also been approved for holders of units in Solaris Oilfield Infrastructure, LLC, which is subject to the same payment and record dates.
About Solaris Oilfield Infrastructure, Inc.
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) manufactures and rents mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells. Solaris’ patented mobile proppant and chemical systems are deployed in many of the most active oil and natural gas basins in the United States. Additional information is available on our website, www.solarisoilfield.com.
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LONDON--(BUSINESS WIRE)--#GlobalOffshoreWindPowerMarket--Technavio has been monitoring the offshore wind power market and it is poised to grow by USD 20.06 billion during 2020-2024, progressing at a CAGR of almost 18% 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.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Doosan Heavy Industries & Construction Co. Ltd., Erndtebrücker Eisenwerk GmbH & Co. KG, General Electric Co., Hyundai Heavy Industries Co. Ltd., MHI Vestas Offshore Wind AS, Nexans SA, Nordex SE, Senvion SA, Siemens Gamesa Renewable Energy SA, and Sinovel Wind Group Co. Ltd. are some of the major market participants. Although the declining LCOE of wind power generation will offer immense growth opportunities, competition from alternative energy sources will challenge the growth of the 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.
Offshore Wind Power Market 2020-2024: Segmentation
Offshore Wind Power Market is segmented as below:
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Offshore Wind Power 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. Our offshore wind power market report covers the following areas:
This study identifies the rising popularity of clean energy technologies as one of the prime reasons driving the offshore wind power market growth during the next few years.
Offshore Wind Power Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the offshore wind power market, including some of the vendors such as Doosan Heavy Industries & Construction Co. Ltd., Erndtebrücker Eisenwerk GmbH & Co. KG, General Electric Co., Hyundai Heavy Industries Co. Ltd., MHI Vestas Offshore Wind AS, Nexans SA, Nordex SE, Senvion SA, Siemens Gamesa Renewable Energy SA, and Sinovel Wind Group Co. Ltd. Backed with competitive intelligence and benchmarking, our research reports on the offshore wind power market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Offshore Wind Power Market 2020-2024: Key Highlights
Table Of Contents :
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
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 focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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MINNEAPOLIS--(BUSINESS WIRE)--North Sky Capital (“North Sky”), a pioneer in impact private equity and sustainable infrastructure investing, today announced it has been awarded $30 million of tax credits by the U.S. Department of the Treasury as part of the New Markets Tax Credit Program (NMTC). North Sky, DBA National Impact Fund, has begun the process of reviewing investment opportunities and expects to begin allocating these tax credits over the next several months.
Celebrating its 20th anniversary as a leader in impact investing, North Sky takes a collaborative approach to identifying impact investments across private equity and sustainable infrastructure that are focused on making the world a better place. Since 2000, North Sky has made approximately $1.0 billion of impact investments.
“We’re excited about the opportunities the NMTC award provides us to invest in businesses that can directly reinvigorate struggling local economies,” said Scott Barrington, CEO of North Sky. “For 20 years North Sky’s mission has been focused on bringing about positive social and environmental change, and the ability to allocate these tax credits to companies focused on making an impact in their communities is a clear win for all involved.”
The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in distressed areas. More than $3.5 billion in total NMTC allocations were made to 76 Community Development Entities as part of the 2019 Program.
According to the U.S. Department of the Treasury, NMTC Program awards have generated $8 of private investment for every $1 invested by the federal government, with recipients deploying nearly $52.5 billion in investments in low-income communities and businesses. The impact of these investments includes the creation or retention of more than 836,000 jobs, and the construction or rehabilitation of more than 218.3 million square feet of commercial real estate, according to the U.S. Treasury Department.
To learn more about North Sky and its commitment to impact investing, download North Sky Capital’s 2020 Impact Report.
About North Sky Capital
North Sky Capital is a thought leader and a pioneer in impact investing, seeking to make the world a better place by bringing about positive social and environmental change while targeting top-quartile investment returns. Now in its 20th year, North Sky has raised more than $1.5 billion in investor commitments, focused on impact private equity secondary and sustainable infrastructure investments on behalf of a diversified group of institutional and individual investors. Based in Minneapolis, with offices in Boston and New York, North Sky and its clients have created one of the largest impact private market platforms in North America. For more information, visit northskycapital.com.
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Company Sets Ambitious Targets for Reducing Plastic Waste, Conserving Water and Improving Oral Health
NEW YORK--(BUSINESS WIRE)--#climate--Colgate-Palmolive Company today announced its 2025 Sustainability & Social Impact Strategy – defining its key actions and setting measurable targets for 2025 and beyond.
Colgate’s 2025 Sustainability & Social Impact Strategy focuses on three ambitions: promoting well-being and inclusivity; helping people develop healthy habits; and preserving and improving the environment. They are supported by actionable targets that uphold Colgate’s continued commitment to building environmental and social consciousness into every decision, which earned the Company recognition on the 2020 Dow Jones Sustainability Indices (DJSI) for the fourth consecutive year. Colgate also was named the top performing Household Products company by the DJSI for the second year in a row and achieved “Industry Best” scores in the Environmental and Social categories.
“Because our Colgate brand is in more homes than any other, we can – and will – create a healthier, more sustainable future for all,” said Noel Wallace, Chairman, President and Chief Executive Officer, Colgate-Palmolive. “We view environmental and social stewardship as enterprise-wide catalysts for growth, and we’re committed to raising the bar and ensuring sustainability is integrated into all aspects of our company – from what we make to how we work to how we go to market.”
Among the company’s social and environmental sustainability actions, key targets are:
Colgate people are already hard at work pursuing these goals. For example, to reach its plastic targets, the company launched its first-of-its-kind recyclable toothpaste tube on three continents and is sharing that technology to speed the industry’s sustainability transformation. With the company’s global leadership in manual toothbrushes, Colgate aims to build on the successful global launches of its bamboo toothbrushes for adults and children with additional advancements to further reduce plastic in toothbrushes. Colgate also currently has 19 certified TRUE Zero Waste facilities across five continents – more than any other company in the world.
“With Colgate’s global reach, we know we have the responsibility and opportunity to make a difference to boost our ambitions as well as to measure and communicate our progress with more frequency and transparency. This strategy reflects our role as a global consumer products company and is informed by all of our stakeholders, both internal and external,” added Ann Tracy, Chief Sustainability Officer.
This announcement comes during a period of purpose-driven commitments that Colgate has advanced in sustainability and social responsibility. In 2020, Colgate has been helping to combat the spread of COVID-19 by producing, donating and distributing 25 million specially-made bars of soap as well as donating more than $20 million in health and hygiene products to health professionals and underserved communities in need.
In addition, Colgate has earned numerous awards for its ongoing commitment to sustainability. Most recently, the Company was named to the prestigious Fortune’s 2020 Change The World List. Moreover, in the past year alone, Colgate received its 10th consecutive ENERGY STAR® Partner of the Year Award, a U.S. Green Building Council Leadership Award, and recognition on EPA’s Green Power Partnership National Top 100.
To learn more about Colgate’s commitment to sustainability, visit: https://www.colgatepalmolive.com/en-us/core-values/sustainability or https://www.linkedin.com/company/colgate-palmolive/.
About Colgate-Palmolive:
Colgate-Palmolive Company is a caring, innovative growth company reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition and reaching more than 200 countries and territories, Colgate teams are developing and selling health and hygiene products and pet nutrition offerings essential to society through brands such as Colgate, Palmolive, elmex, meridol, Tom’s of Maine, hello, Sorriso, Speed Stick, Softsoap, Irish Spring, Protex, Sanex, Filorga, eltaMD, PCA Skin, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. Colgate seeks to deliver sustainable, profitable growth and superior shareholder returns and to provide Colgate people with an innovative and inclusive work environment. Colgate does this by developing and selling products globally that make people’s lives healthier and more enjoyable and by embracing its sustainability, diversity, equity and inclusion and social responsibility strategies across the organization. For more information about Colgate’s global business, its efforts to improve the oral health of children through its Bright Smiles, Bright Futures program and how the Company is building a future to smile about, visit www.colgatepalmolive.com. CL-C
Cautionary Statement on Forward-Looking Statements:
This press release, including our 2025 Sustainability & Social Impact Strategy, contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission (SEC) in its rules, regulations and releases. These statements are made on the basis of Colgate’s views and assumptions as of this time, and Colgate undertakes no obligation to update these statements except as required by law. Colgate cautions investors that such forward-looking statements are not guarantees of future performance and that actual events or results may differ materially from these statements due to a number of factors. For information about factors that could impact Colgate’s business and cause actual results to differ materially from forward-looking statements, consult our filings with the SEC (including, but not limited to, the information set forth under the captions “Risk Factors” and “Cautionary Statement on Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q).
Robert Goodfellow
Colgate-Palmolive Company
646-277-1218
LOS ANGELES--(BUSINESS WIRE)--$KBH #EnergyEfficientHomes--KB Home (NYSE: KBH) today announced a significant milestone: delivering over 11,000 solar-powered homes. KB Home has been a pioneer in solar homebuilding and was one of the first national homebuilders to offer solar. In 2011, the company introduced its first all-solar community, taking an early leadership position in the industry. At a time when many builders had deemed sustainable housing a “luxury,” KB Home recognized the potential solar-powered homes presented. The homebuilder established a solar home program that put energy-efficient homeownership within reach for thousands of buyers, offering a winning combination of helping to lower their utility bills and reduce their environmental footprint.
“We are proud to have delivered over 11,000 solar homes, a milestone that reflects the company’s commitment to building energy-efficient homes,” said Jeffrey Mezger, Chairman, President and Chief Executive Officer of KB Home. “Our innovative new solar homes help our homeowners lower their overall utility costs and enable them to enjoy a more sustainable lifestyle.”
For nearly a decade, KB has partnered exclusively with SunPower to offer all-solar communities, developing an enduring partnership in the process. More recently, KB Home became the first homebuilder to offer SunPower’s new OneRoofTM product, a complete roof-integrated solar system ideal for the new-home market.
“KB Home has long been at the forefront of prioritizing renewable energy in new-home construction, and we extend a big congratulations to them on delivering over 11,000 homes equipped with SunPower’s systems, more homes than any other homebuilder in the nation,” said Norm Taffe, Executive Vice President of North American Channels at SunPower. “SunPower’s durable and attractive roof-integrated solar system enables KB homebuyers to lower their cost of energy and reduce their carbon footprint—a winning combination."
Today, all KB homes are designed to meet or exceed ENERGY STAR® certification standards, meaning the homes can have substantially lower monthly utility costs when compared to typical used homes. In fact, KB has delivered over 146,000 ENERGY STAR certified new homes, a milestone that surpasses all other homebuilders. With the addition of solar to an ENERGY STAR certified home, KB homeowners can further reduce their environmental footprint and their electricity bills. To date, KB solar homes have produced an estimated 428 million total kilowatt hours of electrical power, reducing CO2 emissions by an estimated 668 million pounds—the equivalent of removing over 64,000 cars from the road for an entire year.
For more information on KB Home, call 888-KB-HOMES or visit kbhome.com.
For more information on KB Home's sustainability initiatives, visit kbhome.com/sustainability.
About KB Home
KB Home is one of the largest and most recognized homebuilders in the United States and has been building quality homes for over 60 years. Today, KB Home operates in 42 markets across eight states, serving a wide array of buyer groups. What sets us apart is how we give our customers the ability to personalize their homes from homesites and floor plans to cabinets and countertops, at a price that fits their budget. We are the first builder to make every home we build ENERGY STAR® certified. In fact, we go beyond the EPA requirements by ensuring every ENERGY STAR certified KB home has been tested and verified by a third-party inspector to meet the EPA’s strict certification standards, which help to lower the cost of ownership and to make our new homes healthier and more comfortable than new ones without certification. We also work with our customers every step of the way, building strong personal relationships so they have a real partner in the homebuying process, and the experience is as simple and easy as possible. Learn more about how we build homes built on relationships by visiting kbhome.com.
Craig LeMessurier, KB Home
925-580-1583
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference. The conference is being held on November 18th and 19th.
The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
HyperSport SX and HyperSport SE available for pre-order now with innovative subscription plans provided by Freedomroad Financial
VANCOUVER, British Columbia--(BUSINESS WIRE)--Damon Motors today released details of HyperDrive™, the world’s first 100 percent electric, multi-variant powertrain platform that redefines motorcycle performance, safety and design. As a platform for future Damon motorcycles, HyperDrive is a monocoque-constructed, high-voltage powertrain that a wide range of models and submodels can be built upon.
To showcase the HyperDrive platform, Damon has announced the release of two new motorcycle models for pre-order: HyperSport SX and HyperSport SE, each with HyperDrive at their core. Configured with 15kWh, the HyperSport SX delivers more than 150 miles range and 150 horsepower from its HyperDrive, while the HyperSport SE with 11kWh boasts over 100 miles range and 108 horsepower.
In partnership with FreedomRoad Financial, Damon has also announced a revolutionary subscription plan offering for all HyperSport models. Customers can choose from 24, 36 and 48-month subscription plans with a guaranteed residual value, (conditions apply, with normal wear-and-tear) providing customers the freedom to exchange their HyperSport for updated models at the end of the term. As hardware gets updated, customers can always expect next-generation technology without the hassle and trade-in losses that occur with legacy dealerships and brands.
“As we at Damon continue to reinvent two-wheel mobility, HyperDrive lies at the heart of our innovation,” said Jay Giraud, founder & CEO at Damon Motors. “HyperDrive serves as the nucleus of our creations and will allow us to further evolve our technology and continue to introduce the world’s most exciting and groundbreaking electric motorcycles.”
“Damon continues to electrify the entire motorcycle industry with unprecedented features and next-generation technology that sets it apart from the competition,” said Rob Enderle, principal analyst at Enderle Group. “The Damon team has set a new standard in modern motorcycling with its ongoing commitment to maximizing all aspects of its motorcycles from the ground-up to deliver an unparalleled riding experience.”
HyperDrive is optimized for maximum performance, design and safety.
Performance
Design – Battery as a structural element
Damon's HyperDrive includes the most energy-dense pack in transportation at over 200Wh/kg, but that has not stopped Damon from pursuing every opportunity to increase range and performance.
“Motorcyclists love to see motorcycles as visual diagrams of how they work,” said Dom Kwong, CTO at Damon Motors. “We aimed to emphasize this in a modern electric powertrain for the first time. The structural aspects of HyperDrive celebrate the optimization of mechanical design and performance as its central design expression.”
Safety
As well-meaning as they are, no amount of awareness campaigns, compulsory riding lights, or neon vests have significantly reduced motorcycle accidents. Damon believes the only way to bring about a paradigm shift in motorcycle safety is through the use of disruptive technology.
“We’re on a mission to radically improve motorcycle safety,” said Jeff Sand, design director at Damon Motors. “Our core values permeate the vehicle's design and the systems in them. From passive thermal propagation resistance in our battery packs, to redundancy in critical drive systems, to our novel CoPilot 360º collision warning system, our aim is to invent the future of motorcycle safety and performance.”
The HyperSport Family
Models |
SE |
SX |
HS |
Premier |
HP |
108 |
150 |
>200 |
>200 |
Torque |
>200 |
>200 |
>200 |
>200 |
Top Speed |
120 mph |
155 mph |
200 mph |
200 mph |
Range Per
|
100 miles |
150 miles |
200 miles |
200 miles |
Onboard
|
6.6 kW and DC 19.2 kW |
|||
CoPilot™ |
Included |
|||
Shift™ |
Included |
|||
4G connectivity
|
Included |
|||
Over-the-air
|
Included |
|||
Brakes |
To be announced |
Brembo |
||
Suspension |
Ohlins |
|||
Swing arm type |
Two sided |
Single sided |
||
Est. MSRP |
$16,995 USD
|
$19,995 before
|
$24,995 before
|
$39,995 before
|
Subscription
|
Pricing to be released on damon.com
|
|||
|
||||
About Damon Motors Inc.
Damon is unleashing the full potential of personal mobility for the world’s commuters. With its HyperDrive™ proprietary electric powertrain, the company has developed the world’s safest, smartest, fully connected electric motorcycles employing sensor fusion, robotics and AI. Designed as a platform for worldwide line extension, Damon motorcycles will ship direct to customers on subscription plans to drive scale.
Based in Vancouver, Canada, Damon is founded by serial entrepreneurs Jay Giraud and Dom Kwong. Damon’s investors include Round 13 Capital, Techstars, Fontinalis, Extreme Venture Partners, and Pallasite Ventures.
Learn more at damon.com and follow us on Instagram @damonmotorcycles.
Damon Motors Inc. Media Relations
Media contact: Donna Loughlin Michaels
Loughlin Michaels Group
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(408) 393-5575
Ms. Poppe Brings Deep Industry Knowledge; Decades of Operational, Safety and Leadership Experience; and a Demonstrated Commitment to Clean Energy
SAN FRANCISCO--(BUSINESS WIRE)--PG&E Corporation (NYSE: PCG) today announced the appointment of Patricia K. “Patti” Poppe as Chief Executive Officer and member of its Board of Directors as well as of the Board of Directors of Pacific Gas and Electric Company. Ms. Poppe currently serves as President and Chief Executive Officer of CMS Energy Corporation and its principal subsidiary, Consumers Energy Company, an investor-owned utility that provides electricity and natural gas to 6.7 million Michigan residents. She will take over from Interim PG&E CEO William “Bill” Smith on January 4, 2021.
“Patti is an exceptional leader with the experience, drive, and character to lead PG&E through its next chapter. She knows the utility industry top to bottom and has a deep understanding of what it takes to provide safe, reliable, affordable, and clean energy to millions of customers,” said Robert Flexon, Chairman of PG&E Corporation’s Board of Directors. “We all recognize that PG&E must continue to improve, adapt, and become more resilient to the changing climate. As the leader of Michigan’s largest utility, Patti has embraced technology and put the company on a course to achieving its ambitious clean energy goals while maintaining steady and safe performance, prioritizing customer service, and advancing workplace equity. We are delighted to welcome her to PG&E and look forward to working closely with her to meet the challenges ahead as we continue to enhance the company’s culture and improve its operations.”
Ms. Poppe was appointed President and CEO of CMS Energy and Consumers Energy in 2016 and has resigned with an effective date of December 1, 2020. Under her leadership, CMS Energy and Consumers Energy earned consistent industry recognition and maintained strong operational and financial performance. Ms. Poppe continuously prioritized safety, with safety incidents decreasing by 70% since 2008. In fact, in 2019, Consumers Energy was ranked top quartile by Edison Electric Institute’s utility standards in safety performance. Among her other achievements: Consumers Energy was ranked #1 overall in the Midwest Large Segment for the 2019 Gas Residential Customer Satisfaction Study by JD Power & Associates, and in 2019, customers saved nearly $600,000 on their energy bills through energy efficiency programs, boosting total customer savings to $3.1 billion since 2009.
Additionally, Ms. Poppe was ranked by Institutional Investor magazine as second of 44 utility CEOs and third of 47 utility CEOs for 2020 and 2021, respectively. Among other appointments, Ms. Poppe currently serves as a member of the Board of Directors and Executive Committee of both the Edison Electric Institute and the American Gas Association.
“I am honored by this appointment and look forward to working alongside PG&E’s 23,000 employees to deliver for our customers in Northern and Central California,” said Ms. Poppe. “As California’s largest utility, PG&E has the privilege of powering one of the world’s largest economies and the opportunity to help lead the state’s clean energy future. It also faces significant challenges. I am eager to get to know the PG&E team and to join in the critical work of strengthening PG&E for California’s next generation and earning back the community’s trust.”
During her tenure at CMS Energy and Consumers Energy, Ms. Poppe has been a leader in clean energy, developing a broad coalition of support and putting in place ambitious clean energy plans to reduce emissions, eliminate coal, and increase renewable energy. She has led a significant push into renewables as part of the integrated resource planning for Consumers Energy, including a net zero carbon target by 2040. She has also overseen substantial progress toward CMS Energy and Consumers Energy’s near-term goals to save water, reduce landfill waste, and protect, enhance or restore land.
Ms. Poppe’s championing of workplace equity has earned Consumers Energy significant recognition as an employer, including as the top employer for women in the utility industry (Forbes, 2020), as one of the top 50 employers for diversity (Forbes, 2020), as the top utility company in Michigan for diversity (Forbes, 2019), as the recipient of a Gold Veteran-Friendly Employer distinction (Michigan Veteran Affairs Agency, 2018), and as one of the top 50 globally in Military Times’ Best for Vets: Employers (2019).
Throughout her tenure at CMS Energy and Consumers Energy, Ms. Poppe developed strong working relationships with labor, a critical workforce that delivers for PG&E customers across the state. She also worked closely and collaboratively with Michigan regulators in mutual service for the people of Michigan, and will look to do the same at PG&E.
Prior to her role as President and CEO of CMS Energy, Ms. Poppe held other leadership positions in the utility, including Senior Vice President of Distribution Operations, Engineering and Transmission, with overall responsibility for Consumers Energy's electric and natural gas distribution systems, energy operations, and electric transmission. Her earlier roles at the utility focused on operations and customer experience.
Before joining CMS Energy, Ms. Poppe worked for DTE Energy for five years, first as a Power Plant Director, then as a Director of Regulated Marketing and Energy Optimization. Prior to her time at DTE, Ms. Poppe worked at General Motors for 15 years in various roles. Ms. Poppe holds bachelor’s and master’s degrees in industrial engineering from Purdue University, as well as a master’s degree in management from Stanford’s Graduate School of Business.
The PG&E Corporation Board of Directors appointed Ms. Poppe following a broad national search that looked at candidates both inside and outside of the utility and energy industries. The Board thoroughly evaluated candidates over the last several months.
“I have every confidence Patti will hit the ground running and lead PG&E forward,” said Bill Smith, PG&E Corporation’s Interim CEO. “She is incredibly smart, knows the operations side of this business, and brings to her work curiosity, dedication, and warmth. These qualities will serve her well as she brings PG&E into the future. I look forward to introducing Patti to our talented workforce, welcoming her to California, and working closely with her in the years ahead.”
Mr. Smith will remain on the PG&E Corporation and Pacific Gas and Electric Company Boards of Directors following Ms. Poppe’s arrival. Mr. Flexon added: “On behalf of the full Boards of Directors, I want to thank Bill for his service as interim CEO since earlier this year. His leadership has been invaluable in taking the company forward since emergence, and we are grateful his experience will continue to inform us as a member of the Boards.”
About PG&E Corporation
PG&E Corporation (NYSE: PCG) is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. Each of PG&E Corporation and the Utility is a separate entity and is subject to separate laws, rules and regulations. For more information, visit pgecorp.com.
Investor Relations Contact: 415.972.7080
Media Inquiries Contact: 415.973.5930
www.pgecorp.com
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the eleventh consecutive year. The index, which recognizes public companies for outstanding performance across economic, environmental and social factors, is used as a reference by shareholders who consider sustainability when making investment decisions. Only the most sustainable companies in each industry are considered each year for index membership.
Hess is one of three oil and gas producers in the Energy industry group listed on the North America Index. The DJSI, introduced in 1999, is among the very first set of global indices to track the largest and leading sustainability-driven publicly listed companies. The DJSI was founded on the belief that integrating Environmental, Social and Governance (ESG) factors into traditional financial analysis can generate long-term value.
“Being recognized by the Dow Jones Sustainability Index for the eleventh consecutive year is an honor and underscores our commitment to sustainability which we believe creates value for all our stakeholders,” said Alex Sagebien, Vice President, Environment, Health and Safety.
In addition, the Transition Pathway Initiative or TPI recently published its 2020 report on the progress of 163 energy companies in transitioning to a low carbon economy and supporting efforts to mitigate climate change in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. In TPI’s 2020 report, Hess is the only U.S. oil and gas company to achieve a Level 4-star rating, which is awarded to companies that demonstrably manage climate-related risks and opportunities from a governance, operational and strategic perspective and satisfy all TPI Management Quality criteria.
Hess’ Sustainability Report describes the company’s sustainability strategy and performance on environmental, social and governance programs and initiatives. The report is available at: www.hess.com/sustainability/sustainability-reports.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information about the company is available at www.hess.com.
For Hess Corporation
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Nuclear Magnetic Resonance Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas nuclear magnetic resonance (NMR) market is expected to grow at CAGR of more than 5% during the forecast period of 2020-2025.
Companies Mentioned
Key Market Trends
Onshore Sector to Dominate the Demand
NMR is a type of log that provides information about the quantities of fluids present, the properties of these fluids, and the sizes of the pores containing these fluids.
North America to Dominate the Market
The United States was one of the largest producers of crude oil and natural gas, accounting for around 18% and 23% of the global production, respectively, in 2019. The production surged in 2019, mainly due to robust drilling in its shale reserves, led by the Permian Basin.
Key Topics Covered:
1 INTRODUCTION
1.1 Scope of Study
1.2 Market Definiton
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Location of Deployment
5.1.1 Offshore
5.1.2 Onshore
5.2 Geogrpahy
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Middle-East and Africa
5.2.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Weatherford International plc
6.3.3 Vista Clara Inc
6.3.4 Baker Hughes Company
6.3.5 Qteq Pty Ltd
6.3.6 Mount Sopris Instruments Inc.
6.3.7 Schlumberger Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/g7niwe
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900
PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) has priced its concurrent offerings of (i) $500,000,000 in aggregate principal amount of 2.000% senior secured first lien notes due 2025 at a price to the public of 99.943% of their face value (the “2025 Secured Notes”) and $900,000,000 in aggregate principal amount of 2.450% senior secured first lien notes due 2027 at a price to the public of 99.859% of their face value (the “2027 Secured Notes” and, together with the 2025 Secured Notes, the “Secured Notes”), and (ii) $500,000,000 in aggregate principal amount of 3.375% senior unsecured notes due 2029 at a price to the public of 100.000% of their face value and $1,030,000,000 in aggregate principal amount of 3.625% senior unsecured notes due 2031 at a price to the public of 100.000% of their face value (collectively, with the Secured Notes, the “Notes”). The 2027 Secured Notes are being issued under NRG’s Sustainability-Linked Bond Framework, which sets out certain sustainability targets, including reducing greenhouse gas emissions.
The 2025 Secured Notes mature on December 2, 2025, the 2027 Secured Notes mature on December 2, 2027, the 3.375% senior unsecured notes due 2029 mature on February 15, 2029, and the 3.625% senior unsecured notes due 2031 mature on February 15, 2031. The offerings of the Notes (the “Notes Offerings”) are expected to close on December 2, 2020, subject to customary closing conditions. Failure to meet the sustainability targets with respect to the 2027 Secured Notes will result in a 25 basis point increase to the interest rate payable on the 2027 Secured Notes from and including the interest period ending on June 2, 2026.
NRG intends to use the net proceeds from the Notes Offerings, together with cash on hand, to fund the purchase price of the previously announced acquisition (the “Acquisition”) of Direct Energy, the North American energy supply, services and trading business of Centrica plc (“Centrica”), pursuant to the previously disclosed Purchase Agreement, dated July 24, 2020, among NRG, Centrica and certain of Centrica’s subsidiaries (the “Purchase Agreement”), and to pay fees and expenses relating to the Acquisition, if consummated.
In addition, Alexander Funding Trust, a newly-formed Delaware statutory trust (the “Trust”), has priced its private offering of pre-capitalized trust securities redeemable November 15, 2023 (the “P-Caps”) to certain qualified institutional buyers for an initial purchase price of $900,000,000. The Trust will initially invest the proceeds from the sale of the P-Caps in a portfolio of principal and/or interest strips of U.S. Treasury securities (the “Eligible Assets”) and will enter into a facility agreement with NRG under which NRG will pay a periodic premium to the Trust, and NRG will agree to issue 1.841% senior secured notes due 2023 (the “P-Caps Secured Notes” and, together with the P-Caps, the “P-Caps Securities”) to the Trust under certain circumstances. The Eligible Assets held by the Trust will be used to provide collateral to certain banks that have agreed to provide letters of credit for NRG’s account in an aggregate face amount of up to $900,000,000 to support NRG’s existing and future collateral obligations, including following consummation of the Acquisition. NRG will not receive any proceeds directly from the offering of the P-Caps. The offering of the P-Caps is expected to close on December 2, 2020, subject to customary closing conditions.
If the Acquisition is not consummated, or the Purchase Agreement is terminated, on or before July 24, 2021 (or, certain later dates pursuant to the automatic extension provisions of the Purchase Agreement, as applicable) (such event, an “Acquisition Triggering Event”), then NRG will be required to redeem, within 30 days of the Acquisition Triggering Event, all of the 3.375% senior unsecured notes due 2029 and $200,000,000 aggregate principal amount of the 3.625% senior unsecured notes due 2031, in each case, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date. In addition, the Trust will mandatorily redeem all of the P-Caps at a redemption price equal to 101% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.
The Notes, and any P-Caps Secured Notes, will be guaranteed by each of NRG’s current and future subsidiaries that guarantee indebtedness under its credit agreement. The Secured Notes, and any P-Caps Secured Notes, will be secured by a first priority security interest in the same collateral that is pledged for the benefit of the lenders under NRG’s credit agreement, which consists of a substantial portion of the property and assets owned by NRG and the guarantors. The collateral securing the Secured Notes and any P-Caps Secured Notes will be released if NRG obtains an investment grade rating from two out of the three rating agencies, subject to reversion if such rating agencies withdraw NRG’s investment grade rating or downgrade NRG’s rating below investment grade.
The Notes and related guarantees, as well as the P-Caps Securities, are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or in the case of the Notes and related guarantees, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. The Notes and related guarantees, as well as the P-Caps Securities, have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This press release does not constitute an offer to sell any security, including the Notes and the P-Caps Securities, nor a solicitation for an offer to purchase any security, including the Notes and the P-Caps Securities.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to more than 3.7 million residential, small business, and commercial and industrial customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, and by working towards a sustainable energy future.
Forward-Looking Statements
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally and whether the Notes Offerings or the offering of P-Caps will be consummated, the anticipated terms of the Notes and the P-Caps, and the anticipated use of proceeds, including the consummation of the Acquisition.
The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.
Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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--(BUSINESS WIRE)--#BillGross--AirMiners:
WHAT/WHO |
A very special AirMiners event. AirMiners’ mission is to connect technologists and entrepreneurs in carbon removal. We’re pleased to host Bill Gross of Idealab, widely recognized for his work in leveraging technology to support humanity’s transition to clean energy. |
||
WHEN |
Wed, Nov 18, 2020
|
||
HOW |
To attend, register here. After the event, watch the recording here. |
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WHERE |
Tito Jankowski from AirMiners will interview Bill about his interest in carbon removal, his new startup, Carbon Capture, and future prospects for the carbon capture industry. Additionally, we will broadcast this via EarthX TV! |
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As one of the most creative people in business today, Bill has a long history of seeing what’s next for how key technological innovations come to light to solve for our most pressing problems. Bill’s interest in carbon removal signals a key inflection point in the development of an industry aiming to draw down one trillion tons of carbon from the atmosphere. |
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Miss the event? Click here to access replay. |
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About AirMiners
AirMiners is the place for entrepreneurs, engineers, and scientists, and designers working to extract carbon from the air. It exists to support the global carbon negative community with networking, education, inspiration and access to funding. AirMiners recently announced the AirMiners Accelerator to help entrepreneurs succeed with carbon removal innovations. To find out more about AirMiners, follow on Twitter @airminers or our LinkedIn.
About Idealab
Founded in 1996 by Bill Gross, Idealab is the world’s leading and longest running technology incubator. The company’s mission is to create and operate pioneering technology companies. During its more than two decades, Idealab has started more than 150 companies, created more than 10,000 jobs, and had more than 45 successful IPOs and acquisitions. Companies started by Idealab have raised more than $3.5 billion. The current Idealab portfolio includes companies innovating in sectors ranging from cleantech, artificial intelligence, robotics, and autonomous mobility to enterprise software.
About EarthX
EarthX convenes the world's largest environmental expo, conference and film festival, and is a member of IUCN, International Union for Conservation of Nature. EarthxTV, launched Fall of 2020 is a web-based platform for balanced, inclusive environmental conversations, programs, emerging media and films. Founded in 2011 by environmentalist and businessman Trammell S. Crow, the Texas-based 501(c)(3) nonprofit organization promotes environmental awareness and impact through conscious business, nonpartisan collaboration and community-driven sustainable solutions. Earthx2020 was held virtually in April and drew over 550,000 visitors worldwide. Visit www.EarthX.org or follow us @earthxorg on Instagram, Twitter and Facebook.
Marie Domingo - This email address is being protected from spambots. You need JavaScript enabled to view it. - (650) 888-5642
Stacy Williams - This email address is being protected from spambots. You need JavaScript enabled to view it. - (970) 819-0839
Karen Fleig - This email address is being protected from spambots. You need JavaScript enabled to view it. - (214) 207-9221
Bryceland brings nearly 30 years of banking, investment and asset management experience to increase the firm’s efforts in mobility, carbon capture and the circular economy
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#CNG--Fortistar, a privately-owned investment firm that invests in, grows and manages companies that address complex sustainability challenges, today announced that Charles D. Bryceland has joined the company as managing director. Reporting directly to Fortistar President Mark Comora, Bryceland will identify and provide leadership for growth investments in mobility, carbon capture and the circular economy.
“As an investment firm specializing in industries undergoing transition, like energy and transportation, it is especially important that we continue to innovate and focus on emerging technologies that provide sustainability solutions now,” said Mark Comora, President of Fortistar. “That’s why we chose Chuck, whose decades of investing experience and extensive network in private markets will be critical in our effort to identify and grow new, high-performing assets and groundbreaking solutions that support decarbonization today. We have no doubt that his relationships, financial expertise and broad industry knowledge will expand our growing pipeline of investment opportunities and capital partners.”
“I am excited to join one of the most seasoned teams powering America’s transition towards a zero carbon future,” said Bryceland. “At Bessemer, I had the opportunity to work with the world’s best asset managers but realized few had the experience in driving sustainable solutions like the Fortistar team. It is my priority to expand on our success by sourcing new investments, technologies and capital partners to meet the growing demands for a more resilient, efficient and sustainable future.”
As more companies and investors around the world continue to adopt environmental, social and governance (ESG) principles, which are central factors in measuring sustainability, Bryceland will be critical to expanding and elevating the Fortistar network. Since 1993, Fortistar has successfully invested in and scaled companies in energy, transportation and industrials facing complex sustainability and profitability challenges. From projects that repurpose methane to create renewable natural gas to companies that produce commercial fuel from waste plastics, Fortistar maintains exceptional talent, like Bryceland, to seek out and invest in promising companies that support global sustainability efforts.
Bryceland brings nearly thirty years of financial services experience including senior leadership roles at investment firms and has served as a management consultant, banker, investor, capital allocator and asset manager. Most recently, Bryceland was head of alternative investments at New York-based multifamily office Bessemer Trust, where he was responsible for leading the firm’s $8 billion private equity, real asset and hedge fund investment activities. Prior to joining Bessemer, he established his own firm, The Bryceland Group, to provide outsourced chief investment officer (OCIO) and investment banking services. Before that, he was a managing director for Bank of America Securities following its acquisition of Montgomery Securities. He started his career at Morgan Guaranty, a legacy institution of J.P. Morgan & Co., Inc.
About Fortistar
Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing companies, first in power generation and now in mobility, carbon capture, the circular economy and other solutions that drive our transition to a zero-carbon future. As a team, Fortistar has financed over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.Fortistar.com and follow the company on LinkedIn.
Media Contact:
Lily Thieneman
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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE:NGL) today announced that it will participate in the 2020 RBC Midstream Energy Virtual Conference on November 18 and 19, 2020. Members of NGL’s management team will be participating in a series of virtual meetings with members of the investment community.
NGL’s slide presentation referenced at the Conference is available on NGL’s website at www.nglenergypartners.com on the “Presentations” sub-tab under the “Investor Relations” section.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.
Trey Karlovich, 918-481-1119
Executive Vice President and Chief Financial Officer
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or
Linda Bridges, 918-481-1119
Senior Vice President – Finance and Treasurer
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DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy, a leading North American renewable energy developer and provider, is pleased to announce that Jason Allen has been promoted to the position of CEO, effective November 1. Mr. Allen has been acting as interim CEO since February 2020. He joined the company in 2017 as its Chief Operating Officer.
“I am honored to accept the position of CEO at Leeward Renewable Energy,” said Mr. Allen. “I feel fortunate to have the opportunity to lead an OMERS portfolio company; they are a great owner that has been extremely supportive of our growth strategy. And it’s a privilege every day to work alongside the incredible team at Leeward.”
“On behalf of Leeward’s Board, I would like to congratulate Jason on his appointment as CEO of this dynamic company,” said Kenton Bradbury, Chair of Leeward’s Board of Directors. “Our unanimous support for Jason comes after the completion of an extensive search process. He has demonstrated excellent leadership of the business over recent months. We look forward to Leeward achieving further successes under Jason’s direction, as the business implements its strategy for growth,” Mr. Bradbury added.
“We strongly believe that Leeward Renewable Energy is an ideal platform for OMERS Infrastructure’s further expansion in the U.S. renewable energy space. We continue to invest in Leeward, and anticipate that the best is yet to come as the company executes on its growth plans under Jason’s leadership,” said Michael Ryder, Senior Managing Director and Head of Americas, OMERS Infrastructure.
Before joining Leeward, Mr. Allen served as Vice President of Operations – Power at AltaGas and had operational and P&L responsibility for their North American generation fleet. Mr. Allen also worked in several executive roles while working for Duke Energy Corporation for over 20 years. At Duke he served as Vice President, Fossil Hydro Operations Carolinas West, Senior Vice President Environmental Health and Safety, Vice President Duke Energy Renewable Operations, and numerous other positions within the corporation. He holds an MBA from Northwestern University’s Kellogg School of Management and a Bachelor of Science degree in Electrical Engineering from University of Cincinnati.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a growth-oriented renewable energy company that owns and operates a portfolio of 21 wind farms across nine states, with 20 in operation and one under construction, totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada's largest defined benefit pension plans with C$109 billion in net assets (as at December 31, 2019). For more information, visit www.leewardenergy.com.
Kelly Kimberly
Sard Verbinnen & Co.
713.822.7538
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