RE100 Global Program Aims to Create Fully Renewable Ecosystems
SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy (NYSE: BE) and SK Engineering and Construction (SK E&C) today announced they have won a competitive Request for Proposal (RFP) under the RE100 program to supply solid-oxide fuel cells (SOFC) powered by 100 percent hydrogen and electrolyzers to an industrial complex in Changwon, Korea. The RE100 is a global renewable energy initiative led by the Climate Group to accelerate the move toward zero-carbon electricity grids. The Changwon RE100 proposal process, run by the Korean Industrial Complex Corporation, is a project aimed at identifying and selecting partners to contribute to a fully renewable ecosystem in Korea.
Bloom Energy will supply 1.8 megawatts of hydrogen-powered fuel cells through a multi-stage deployment from late 2021 into 2022. The fuel cells will be the cornerstone of a microgrid that also includes onsite solar and battery storage.
“SK E&C and Bloom Energy are paving the way toward a zero-carbon energy future,” said Jason Ahn, CEO, SK E&C. “With a projected domestic deployment of 8.4 gigawatts of stationary fuel cells, coupled with an additional 6.6 gigawatts for international export, Korea is trailblazing the hydrogen economy. We are honored to be selected by the Korean Industrial Complex Corporation for this inspiring RE100 project – a testament to Bloom Energy and SK E&C’s market leadership.”
In addition, Bloom Energy intends to supply its solid oxide electrolyzer cells (SOEC), which will be capable of producing green hydrogen via solar and battery, to the site in 2022. The green hydrogen produced by the SOEC, which is created through electrolysis by converting water and renewable electricity into hydrogen without carbon emissions, will be used to power the hydrogen SOFC.
“Since Bloom Energy’s founding, nearly two decades ago, we’ve known that our technology platform could play a critical role in the hydrogen economy,” said KR Sridhar, founder, chairman and CEO, Bloom Energy. “When it came to hydrogen, the question was never if – but when. With emerging interest in the adoption of hydrogen, our commercial hydrogen strategy is on schedule, and the timing for market entry is right. As the world’s most significant and influential consumers demand and conform to RE100 standards, we are well-positioned with our technology platform to lead in this massive global transformation.”
In July, Bloom Energy announced it would introduce hydrogen-powered fuel cells and electrolyzers that produce renewable hydrogen to the South Korean market through its longstanding partnership with SK E&C. That project, under which 100 kilowatts of hydrogen-powered Bloom Energy Servers are scheduled to ship by the end of the year, is expected to power on in early 2021.
As hydrogen is both widely available and contains no carbon, many governments are now recognizing it as an essential tool for full decarbonization. South Korea’s government-supported Hydrogen Economy Roadmap is notably among the most ambitious in the world, with the aim of ensuring 15,000 megawatts of hydrogen fuel cell installations, 6.2 million hydrogen vehicles and 1,200 hydrogen charging stations are in operation by 2040. In addition, 66 countries and nearly all of the largest utilities in the United States have pledged to fully or significantly decarbonize by 2050.
Later today, at 4:30 p.m. EST/1:30 p.m. PST, Bloom Energy will host an investor conference call to discuss its approach to hydrogen as well as an update on its entry into the commercial hydrogen market and its hydrogen-powered fuel cells.
For more details, visit: https://www.bloomenergy.com/newsroom/press-releases/bloom-energy-announces-upcoming-investor-event-nov-18-2020
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would” and similar expressions identify such forward-looking statements. These statements include, but are not limited to, Bloom Energy’s expectations regarding the hydrogen fuel cell market in South Korea, Bloom Energy’s expectations regarding its hydrogen-powered fuel cells and electrolyzers, and Bloom Energy’s ability to successfully deliver these new hydrogen applications. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including those included in the risk factors section of Bloom Energy’s Annual Report on Form 10-K for the year ended December 31, 2019, its most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other risks detailed in Bloom Energy’s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.
Media Relations:
Jennifer Duffourg
Bloom Energy
+1 (480) 341-5464
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DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Packer Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas packer market is expected to grow at CAGR of more than 3% in the forecast period of 2020-2025.
Companies Mentioned
Key Market Trends
Retrievable Packer to Witness Significant Growth
A retrievable packer is a type of packer that is run and retrieved on a running string or production string, unlike a permanent production packer that is set in the casing or liner before the production string is run.
North America to Dominate the Market
The United States is 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
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
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Retrievable
5.1.2 Non-Retrievable
5.2 Location of Deployment
5.2.1 Offshore
5.2.2 Onshore
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Weatherford International plc
6.3.3 National Oilwell Varco Inc.
6.3.4 Baker Hughes Company
6.3.5 Dril-Quip, Inc
6.3.6 Wellcare oil tools pvt ltd
6.3.7 Schlumberger Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/b87hu8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Solar Street Lighting Market Research Report: By Structure Type, Component, Installation, Application - Global Industry Trends and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The rapidly reducing costs of solar lighting systems is a major factor responsible for the growing demand for solar street lighting devices across the globe. As per a report produced by the National Renewable Energy Laboratory (NREL), the prices of solar panels decreased by 80% over the last 30 years, that is, from $10 per Watt (W) to nearly $2 per Watt from 1980 to 2010. The prices of these panels declined further by 50% during 2015 - 2019, that is, from $0.70 per Watt to $0.35 per Watt over the time period.
The increasing road infrastructure development projects in several countries, on account of the soaring vehicular traffic, is another key factor fuelling the demand for solar street lighting devices throughout the world. Many countries such as India, Germany, the U.S., and China are increasingly launching massive roadway and highway development projects, because of the growing urbanization and road traffic. The sales of commercial vehicles increased by 2.2% all over the globe in 2019. Moreover, the sales of these vehicles reached 26.9 million units across the globe in 2019.
Apart from the aforementioned factors, the surging number of smart cities is also contributing massively toward the soaring sales of solar street lighting systems throughout the globe. There has been a huge rise in the construction of smart cities in various countries such as the U.S., India, Saudi Arabia, China, and South Korea over the last few years and this trend will further continue in the future years as well. Additionally, the governments of many countries are making huge investments for the development of smart cities, thereby boosting the sales of the solar street lighting devices.
Due to the above-mentioned reasons, the valuation of the global solar street lighting market will increase from $5.7 billion to $14.6 billion from 2019 to 2030. Furthermore, the market will advance at a CAGR of 9.4% between 2020 and 2030, as per the calculations of the publisher, a market research firm based in India. Airport runways, parks and playgrounds, manufacturing sites, parking lots, and roadways and highways are the major application areas of the solar street lighting systems. Amongst these, the usage of these lights will be the highest in roadways and highways in the years ahead.
Speaking regarding the regional market growth, the Asia-Pacific (APAC) solar street lighting market will demonstrate the fastest growth in the future years. This is ascribed to the rapid urbanization, especially in the developing nations of APAC and the subsequent rise in the demand for lighting devices. In addition to this, the presence of major solar street lighting devices manufacturing companies in the APAC countries is massively boosting the sales of these devices in the region.
Thus, it can be easily concluded from the above paragraphs that the demand for solar street lighting devices will surge throughout the world in the upcoming years, primarily because of the rising construction of buildings and infrastructural modernization and renovation works, increasing construction of smart cities, and extensive development of roadways, railway lines, and airports in many countries around the world.
Market Dynamics
Trends
Drivers
Restraints
Opportunities
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/uq4rwl
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Solar Cover Glass Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The solar cover glass market is poised to grow by $1.04 billion during 2020-2024, progressing at a CAGR of 29% during the forecast period. The report on the solar cover glass market provide a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rise in solar PV installations, the decline in LCOE of solar power generation, and the cost of solar inverters.
The solar cover glass market analysis includes application segment and geographical landscapes. This study identifies the government regulations supporting solar power generation as one of the prime reasons driving the solar cover glass market growth during the next few years.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Companies Mentioned
The report on the solar cover glass market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary.
This market research report provides a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/nyykzs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Oil & Gas Pumps Market by Type (Submersible, Non-submersible), Pump Type (Centrifugal, Positive Displacement (Screw, Reciprocating, Rotary and Gear, Progressive Cavity), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global oil & gas pumps market is projected to reach USD 9.0 billion by 2025 from an estimated USD 6.6 billion in 2020, at a CAGR of 6.4% during the forecast period.
Continuous shale development activities and the development of gas terminals are the key factors driving the growth of the oil & gas pumps market. Likewise, the development of pipeline infrastructure in Asia Pacific and the Middle East and the discovery of new reservoirs in the African region are expected to offer lucrative opportunities for the oil & gas pumps market during the forecast period. However, the growing usage of renewable energy and managing lead time of product are expected to hinder the growth of the market.
The submersible pump, by type, is expected to be the fastest-growing market from 2020 to 2025.
Submersible pumps, as the name implies, can be submersed within a tank, well, or other containers. These pumps are designed to be suitable for immersion. Submersible pumps find applications in oil production and in supplying water for agriculture and industry. The type most widely used in the Soviet Union is the submersible centrifugal pump with electric drive for oil production and vertical pumping of water. In other countries, submersible pumps of the piston type with hydraulic drive are also used. The increasing offshore oil & gas activities are expected to boost the demand for submersible pumps in the oil & gas industry
The centrifugal segment, by pump type, is expected to be the largest market from 2020 to 2025.
Centrifugal pumps are used in the upstream segment as part of tri-phase or multi-phase pumping applications. Various types of centrifugal pumps are used in a wide variety of applications, for example, electrical submersible pumps are used as a water and oil separator, in which water can be reinjected into a reservoir without lifting it to the ground surface. Despite the slowdown in the oil & gas sector and the fall in oil prices, the oil & gas industry continues to be one of the largest end users of centrifugal pumps. Also, the oil & gas sector is expected to witness high investments in the coming years. Investments in the oil & gas sector from emerging economies and continuing developments in high crude oil-producing regions such as the Middle East, North America, and Russia are projected to drive the growth of the market for centrifugal pumps globally.
Asia Pacific: The largest and the fastest-growing region in the oil & gas pumps market.
The regional market is further segmented into China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. The market in China is expected to grow as it is one of the major importers of oil and its domestic demand surpasses its production. Automation ensures optimum utilization of resources and curbs imports. It also helps in the reduction of labor costs and human interference, which is currently a major concern in Asia Pacific owing to stringent labor laws. The demand for oil products in the Asia Pacific region is rapidly increasing as the region experiences strong economic growth. The region has less than 9.0% of the world's proven reserves, implying a high rate of redevelopment and rehabilitation of oilfields.
Substantial economic growth and the demand for oil & gas have led to an increase in offshore oil & gas E&P in the region. The increasing activities in deeper and more remote waters in the Philippines and Myanmar are expected to meet the growing energy demand. According to the BP Statistical Review of World Energy 2020, Asia Pacific accounted for 44.1% share of global primary energy consumption.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/a3un9a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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E&P companies can now benchmark their production operations against industry peers
HOUSTON--(BUSINESS WIRE)--Ambyint, the leader in well lifecycle production optimization, today launched a new service that gives exploration and production (E&P) companies clear visibility into the relative impacts of their well optimization strategies and practices. The service benchmarks companies against the rest of industry providing metrics and operational roadmap recommendations to improve bottom-line results.
“The focus for operators is margin improvement,” says Dr. Victoria Pons, chief executive officer of Pons Energy Analytics. ”With shrinking operations teams and a diaspora of technology and workflow practices, it is difficult to make data-driven decisions on production operations improvements. Ambyint’s well optimization assessment is the type of service that can provide the data and roadmap for targeted production gains.”
Ambyint Well Optimization Assessment™ service is a four- to six-week engagement with E&P operations teams that reviews operational performance focusing on artificial lift optimization, work prioritization, well reliability, workflows, data utilization, reporting, and performance metrics. This data feeds an assessment report containing baseline data analysis supported with interviews, workflow value maps, and a data systems framework to provide customers with essential insights that inform operational and digitalization strategies.
“Increased operational focus on performance while leveraging existing assets, is a significant driver with E&P companies,” says Benjamin Kemp, vice president at Ambyint. “Our extensive and growing market experience has shown significant margin is being left on the table through insufficient analytics, inefficient process workflows, or limited technology adoption. Ambyint’s new assessment service codifies our strong expertise into a framework that operators can use to target that unrealized margin.”
For more information, please join our Well Optimization Strategies for Improved Bottom-Line Performance webinar on December 9, 2020. Attendees can register here.
About Ambyint
Ambyint, a market leader in well lifecycle production optimization for the oil and gas industry, delivers step-change improvements to E&P production outcomes and margins by combining advanced physics and subject matter expertise with artificial intelligence to automate operations and production optimization workflows across all well types and artificial lift systems. www.ambyint.com.
Ginger Shelfer
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DUBLIN--(BUSINESS WIRE)--The "Zero-Emission Initiatives Drive the Global Laser-Based Gas Analyzers Market" report has been added to ResearchAndMarkets.com's offering.
The global laser-based gas analyzers market is estimated to reach approximately $566.4 million by 2026.
This research analyzes the global trends in the laser-based gas analyzers market. The global laser-based gas analyzers market was witnessing steady growth, with safety, process, and environmental applications driving demand across vertical markets.
The spread of the COVID-19 pandemic has halted production globally and is resulting in many upcoming projects being canceled or delayed. Globally, many plants across industries such as process, energy and power, and industrial manufacturing have been closed, resulting in a significant drop in demand.
Despite countries beginning to relax restrictions, it is unlikely for demand to return to pre-COVID-19 levels in 2020 and 2021. The oil price slump did not help the situation and resulted in oversupply with weak demand. Hence, the demand for gas analyzers is expected to be low in energy and related industries as well. Once industries return close to previous plant utilization levels, demand will also increase. The market has been segmented by technique type, vertical markets, and regional markets.
The study covers the market share analysis of top competitors in addition to discussing the strengths, weaknesses, opportunities, and threats (SWOT) analysis of these participants. The study also describes the distribution structure in this market.
Annual estimates and forecasts are provided for the period 2016 to 2026. The geographical scope of the study includes North America, Europe (EU), Asia-Pacific (APAC), and Rest of the World (RoW).
North America is a significant contributor to the laser-based gas analyzers market owing to the energy and manufacturing industries. Regulatory compliance in Europe toward environmental protection is a key contributor to demand.
APAC was the largest contributor and the fastest growing region with growing industrialization in economies such as China and India. The market is approached usually through a combination of direct and indirect channels.
Gas analysis is done using various techniques, and companies are focused on offering analyzers based on one technique. The market does not have participants offering all techniques but companies offer only one solution to several vertical markets. The market also has companies targeting a specific vertical market or a niche application.
The tunable diode laser spectroscopy (TDLS) technique currently holds a major share of the market. Demand for inline measurements is growing, especially in certain applications where continuous measurements are required or human intervention is not possible. The study discusses various trends that are changing the laser-based gas analyzers market and their business impact on enterprises, service providers, and small and medium businesses.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Regulations and Directives
4. Drivers and Restraints - Total Laser-based Gas Analyzers Market
5. Forecast and Trends - Total Laser-based Gas Analyzers Market
6. Market Share and Competitive Analysis - Total Laser-based Gas Analyzers Market
7. Growth Opportunities and Companies to Action
8. Mega Trends and Industry Convergence Implications
9. TDLS Segment Analysis
10. RA Segment Analysis
11. QCLS Segment Analysis
12. CRDS Segment Analysis
For more information about this report visit https://www.researchandmarkets.com/r/5bthkp
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Micro-inverter Market with COVID-19 Impact Analysis by Offering, Communication Technology, Type, Power Rating, Connection Type, Sales Channel, Application (Residential, Commercial, PV Power Plant), and Geography - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global micro-inverter market size was valued at USD 2.5 billion in 2020 and is projected to reach USD 6.5 billion by 2025; it is expected to grow at a CAGR of 20.8% from 2020 to 2025.
The growth of the micro-inverter market is driven mainly by increasing demand for micro-inverter solutions in residential applications, growing visibility regarding the inherent benefits offered by them, such as remote monitoring capabilities, upsurge in renewable energy investment, and government initiatives encouraging the adoption of renewable energy.
COVID-19 has emerged as a global pandemic that has spread over 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user applications may have a considerable direct impact on the micro-inverter market.
"Indirect sales channel is expected to hold the larger share during the forecast period."
Manufacturers mainly provide micro-inverters to end users through indirect sales channels or third-party providers. Most key players in the market have well-established sales networks and distribute their products worldwide. Micro-inverter systems are mainly adopted in residential and commercial applications. End users may lack the expertise required to integrate micro-inverters into solar panels; thus, installations are mostly done by system integrators or third-party providers appointed by companies. Owing to these factors, the indirect sales channel segment is expected to hold larger market share during the forecast period.
"Residential application is expected to grow at the highest CAGR during the forecast period."
Micro-inverters are mainly adopted for residential applications. Residential solar rooftop PV installations have witnessed significant growth over the last few years. Towering energy costs, coupled with supportive government policies worldwide, have led to the increasing adoption of energy conservation measures for controlling energy expenditure in residential applications.
Countries such as the US, Australia, and the Netherlands, which are among the prominent markets for residential rooftop PV installations, have widely adopted micro-inverters over conventional inverters. In addition, countries such as India, Mexico, the UK, and Brazil are currently witnessing significant growth in the residential solar market. These factors are expected to create a huge demand for micro-inverters.
"APAC is projected to grow at the highest CAGR during the forecast period."
The growth of the micro-inverter market in APAC can be attributed to the surging demand for micro-inverters from major countries, such as Japan, Australia, India, and China, in the region. The market in APAC mainly comprises developing economies such as China and India.
These countries store huge potential for the growth of the micro-inverter market in many application areas. The micro-inverter market in APAC is growing rapidly with the increasing adoption of commercial solar PV systems for industrial, residential, and other applications. The rising demand for micro-inverters for residential applications in India, China, and Japan is among the key factors driving the growth of this market.
Major players in the micro-inverter market include Enphase Energy (US), Altenergy Power System (US), Darfon Electronics (Taiwan), ReneSola (China), AEconversion (Germany), and Chilicon Power (US) among others.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/xj0wcy
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HONOLULU--(BUSINESS WIRE)--#dronedelivery--The long-endurance hybrid-electric Skyfront Perimeter drone was recently used to perform the first ship-to-submarine delivery via small unmanned aircraft. During the historic flight, the Perimeter took off from a moving surface vessel and delivered supplies to the crew of the ballistic missile submarine, in a quick and cost-effective way to resupply submarines at sea.
The flight unveiled Skyfront’s command and control handoff capability. During the flight, pilots aboard the surface vessel launched the drone and flew it near the submarine. Once there, pilots aboard the submarine took control of the drone and released the package onto the top of the sub.
Command and control handoff is offered as an option on all Skyfront Perimeter unmanned aerial vehicles, including those integrated with Silvus Technologies’ best-in-class Streamcaster radios for the data link and Optimum Solutions’ long range tracking antennas. The option allows an unlimited number of pilots and ground control stations to seamlessly view video from and take control of the Perimeter UAV at any time. Pilots can control the drone with joysticks or with Skyfront’s satellite map software.
The capability is essential for long range missions to maintain line-of-sight control by using multiple distributed pilots to comply with some countries’ aviation rules and regulations. It also allows pilots to maintain full control of the vehicle while flying over rugged terrain where radio links are likely to be compromised by line-of-sight obstructions.
About Skyfront
Skyfront manufactures the longest endurance hybrid-electric multirotor drones in the world, with proven flight times of 5 hours. Skyfront's UAVs are designed and equipped for beyond-visual-line-of-sight missions, including video, telemetry and control links up to 60 miles (100 km) away from the ground control station. Customers use the Perimeter for inspection and surveillance missions worldwide due to extremely long flight times, communications range, safety, rapid deployment, and ease of use. For more information, please visit www.skyfront.com.
Troy Mestler, Ph.D.
+1 (831) 704-5414
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LAREDO, Texas--(BUSINESS WIRE)--Oil and Gas Investor Magazine has named Radcliffe “Cliffe” Killam II, President of Killam Oil, as a 2020 honoree in its Forty Under 40 program. Selected from among hundreds of nominations, Killam was recognized for his entrepreneurial spirit, leadership, and visionary thinking that helped transform his family’s 100-year-old company into the innovative, efficient organization that it is today. Killam’s commitment to supporting future generations in the oil and gas industry is also evident in his decade-long effort to establish a Petroleum Engineering degree plan at Texas A&M International University, which was formally approved in April 2020.
“I am humbled by this recognition and hope that it brings attention to Texas A&M International’s new Petroleum Engineering program,” Killam stated.
Killam Oil is a private, family-owned business started by Oliver Winfield Killam in Laredo in 1919 that has since maintained a sterling reputation in South Texas and throughout the industry. Today, the Killam Family Office focuses on oil and gas exploration, real estate development, investments, and ranching.
Cliffe Killam was born and raised in Laredo, Texas. He obtained an Executive MBA from the McCombs School of Business and a Master’s degree in Energy & Mineral Resources from The University of Texas at Austin, as well as a Bachelor’s degree in English Literature from Boston University.
“I am and honored to be a part of our family legacy and am focused on the future of Killam Oil,” said Killam. “Our achievements both in the industry and in the community make me proud of our organization,” said Killam.
“Over the past decade, I have been focused on building on our strengths and addressing areas in need of improvement. My focus has first been on the culture of the organization, which is based on family first, team work, listening, asking questions, data-driven analysis, and decision making guided by economic scenario analysis and qualitative considerations. Throughout the journey, it has been a team effort, resulting in a strong culture that is results driven. I am deeply honored by this award and look forward to all that we will continue to achieve in this industry in the years to come.”
Oil and Gas Investor Magazine is produced by Hart Energy. For more than 40 years, Hart Energy has delivered market-leading insights to investors and energy industry professionals. The Houston-based company produces award-winning magazines (such as Oil and Gas Investor and E&P); online news and data services; in-depth industry conferences (like the DUG™ series); GIS data sets and mapping solutions; and research and consulting services. For information, visit hartenergy.com.
Lisa Marie Barocas
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TORONTO--(BUSINESS WIRE)--#CapitalRaise--Peak Power, a Canadian based Startup, announced today that is has received funding from Sensata Ventures and Export Development Canada (EDC) to fund further expansion of its proprietary Synergy™ Platform.
The AI-based Synergy™ software supports Peak’s mission to enable the integration of distributed energy resources into the Smart Cities and connected buildings. With Synergy™, Peak Power can optimize energy assets, including buildings, energy storage and electric vehicles acting as synthetic, stationary, and mobile batteries respectively. These solutions can be deployed independently or collectively as a Virtual Power Plant to respond to the grid’s needs in real-time. Through the Synergy™ platform, Peak unlocks new revenue streams and reduces emissions for their customers in the C&I, energy development, and utility sectors.
Sensata’s investment in Peak Power forms part of its strategic growth initiative in the energy sector. “We recognize that Peak Power is a leader in the development of advanced optimization software for distributed energy resources. After seeing the capabilities of their Synergy™ platform, we believe Peak will play a critical role in enabling intelligent and clean energy in Smart Cities,” said George Verras SVP of Sensata Ventures. “We intend to actively engage Peak Power to help meet our strategic objectives in the energy management space.”
“Peak Power exemplifies a Canadian success story, showcasing the talent and expertise Canada has to offer in using artificial intelligence in energy control,” said Carl Burlock, Executive Vice-President and Chief Business Officer at EDC. “We are proud to support Peak Power through EDC’s investment Matching Program, which will enable the company to scale its business internationally, while making a positive impact on the environment.”
Headquartered in Toronto, Peak Power has assets under control in Ontario, New York and California, representing some North America’s largest Real Estate Investment Trusts and Commercial & Industrial facilities. They have achieved numerous industry firsts, including being the first to discharge a fleet of electric vehicles using Vehicle-To-Grid technology as part of a multi-asset virtual power plant in response to grid needs. Peak’s work has been featured in both Forbes and BNN for their innovation and business acumen.
“Peak is very grateful to have the support of both Sensata and EDC,” said Derek Lim Soo, CEO and Co-Founder of Peak power. “Sensata is a leader and innovator in sensor solutions which is a natural strategic fit with our Synergy™ offering, and EDC is renowned for helping Canadian companies succeed in the global market. Together, we will focus on high-value customer segments, including manufacturing, Commercial & Industrial and buildings to create differentiation through technology innovation.”
About Peak Power
Peak’s AI-powered software enables intelligent energy in smart cities by optimizing synthetic, stationary, and mobile batteries to act as grid resources. Peak’s solutions reduce client’s operating costs and environmental footprint while decreasing strain on the grid.
About Sensata
Sensata Technologies is one of the world's leading suppliers of sensing, electrical protection, control and power management solutions with operations and business centers in 11 countries. Sensata’s sensors are the fundamental building blocks needed for a smart, connected, electrified and ultimately, autonomous world.
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca
EDC
Export Development Canada
1-888-222-4065
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SENSATA TECHNOLOGIES
Alexia Taxiarchos
Senior Director of Global Communications
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PEAK POWER
Imran Noorani
Vice President, Strategy & Corporate Development
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Public-Private partnership on second project to harness renewable energy generation for utility cost savings and sustainability benefits
STOCKTON, Calif. & FRAMINGHAM, Mass.--(BUSINESS WIRE)--#efficiency--During today’s San Joaquin County Board of Supervisor meeting, Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, announced that it has completed construction on a 5.3 MW-dc ground-mount solar energy system at San Joaquin County’s Foothill Landfill. This is Ameresco’s second renewable energy project with the County and will help reduce their utility costs through California’s Renewable Energy Self-Generation Bill Credit Transfer (RES-BCT) program.
San Joaquin County partnered with Ameresco to develop, own and operate a ground-mount solar photovoltaic system at the Foothill Landfill in Linden, California. Funded by a power purchase agreement (PPA), Ameresco installed 13,770 solar modules rated at 385W-DC each, as well as 29 solar inverters rated at 125kW-AC each. Under a separate agreement with San Joaquin County, Ameresco constructed a 4.3 MW landfill gas to energy plant at the same landfill in 2014.
“San Joaquin County, and its local communities, have long prioritized the development of renewable energy resources, both for reducing emissions and supplementing existing electricity generation,” said Kathy Miller, Chair of the San Joaquin County Board of Supervisors. “In addition to its environmental impact, the solar energy system will provide further utility cost savings to our region, which will directly benefit residents and local governments’ ability to better serve its constituents.”
The solar energy system will generate approximately 10,473,000 kWh of electricity in year one. This equates to a reduction of 7,405 tons of CO2 emissions or 854 homes’ energy use for one year. In addition to the significant electrical savings, the County will also receive a $500,000 upfront lease payment for the use of the land, infusing revenue into the County from day one.
“As a leader in green energy, San Joaquin County is always looking for ways to provide an improved environment for our residents while at the same time providing cost savings to taxpayers,” said San Joaquin County Supervisor, Chuck Winn. “The County recognized that the Foothill Landfill site in Linden had a large amount of undeveloped land. Thanks to a previous project implemented at the site in partnership with Ameresco, we knew there was a similar opportunity to do something productive with the site. When Ameresco approached us about the potential use of the undeveloped land for solar arrays, it was an opportunity we couldn’t pass up. This is a long-term partnership and the resulting project will provide a great benefit to the County and our residents.”
“Our continued work with San Joaquin County demonstrates that there are always additional ways to make a community more sustainable and energy-secure,” said Bob Georgeoff, Vice President of Ameresco. “We look forward to seeing this project deliver environmental benefits while also generating substantial financial savings for San Joaquin County.”
Construction of the San Joaquin County solar project was recently completed. Ameresco continues to work with multiple parties involved in its development, including Sage Energy Consulting, PG&E, the SJCOG, the Linden Fire Department, California Department of Fish and Wildlife, California State Water Resources Control Board, CEQA and the San Joaquin Valley Air Pollution Control District.
About San Joaquin County, California
As the northernmost county in the Central Valley, San Joaquin bridges northern and central California. With seven incorporated cities and many communities, its geographical position in the heart of the Delta places the County within a dynamic growth corridor ideally situated for residential, recreation, business and industry. The San Joaquin County Department of Public Works is charged with the responsibility to plan, design, construct, operate, and maintain the public roads, bridges, water, wastewater systems, flood control, and solid waste systems in order to preserve the County's infrastructure investments and protect the health and welfare of the 753,000 residents who call it home.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,100 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of Ameresco’s completion of a renewable energy asset project is not necessarily indicative of the timing or amount of revenue from the energy asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of September 30, 2020.
Ameresco: Leila Dillon
508-661-2264 / This email address is being protected from spambots. You need JavaScript enabled to view it.
San Joaquin County: Stephanie Yoder
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DUBLIN--(BUSINESS WIRE)--The "Oil Drilling Automation Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The oil drilling automation market is evaluated at US$486.688 million for the year 2019 growing at a CAGR of 10.01% reaching the market size of US$862.494 million by the year 2025.
Oil drilling automation refers to the automation of sub-processes of operational as well as downhole activities that are necessary for the drilling of oil. In other words, it refers to the integration of surface and downhole measurements with the help of modernized machinery, systems as well as predictive models to improve operational efficiency in a cost-efficient and effective manner.
There are growing requirements of safety as well as efficiency during the drilling process, thus, these tools and equipment further offer enhanced safety and efficiency with the help of predictive tools and models. Automation of drilling are being increasingly adopted due to the fact that it also helps to optimize the surface activities. For this, a combined system is required with a comprehensive understanding of the subsurface and its interactions with the drilling systems that operate under surface drilling.
The market for oil drilling automation is being primarily driven by the fact there has been a significant increase in the exploration activities owing to the increased demand, which is anticipated to be one of the prime factors that are expected to supplement the demand for automation solutions in oil fields.
Furthermore, the increasing focus on the development of new oil fields with reduced risks and enhanced safety and efficiency is a major factor that is paying a significant role in shaping up the market growth throughout the course of the next five years. Additionally, the up-gradation of the existing infrastructure in the oil fields coupled with the growing penetration of automation processes across several industry verticals is further bolstering the oil drilling automation market growth throughout the forecast period.
However, the market may be restrained by the fact that the initial upfront costs of these solutions is further leading to a reluctance in the adoption of these solutions. Also, the risk of security coupled with the volatile nature of the oil industry are some of the additional factors that are projected to inhibit the market growth.
Furthermore, the outbreak of COVID-19 is considered to be a major factor that is expected to hamper the market growth during the short run due to the fact that in many parts of the world the capital expenditure spending on oil and gas has been negatively impacted due to economic crisis. Also, the halt in industrial manufacturing further led to a decline in energy demand as well, which further led to a decline in the production.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Oil Drilling Automation Market Analysis, by Application
5.1. Introduction
5.2. Offshore
5.3. Onshore
6. Oil Drilling Automation Market Analysis, by Offering
6.1. Introduction
6.2. Hardware
6.3. Software
7. Oil Drilling Automation Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Huisman Equipment B.V.
9.2. Sekal AS
9.3. Drillform Technical Services Ltd.
9.4. National-Oilwell Varco, Inc.
9.5. Rigarm Inc.
9.6. Automated Rig Technologies Ltd.
9.7. Nabors Industries Ltd.
9.8. ABB
9.9. Emerson Electric Co.
9.10. Honeywell International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rmmw3f
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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2019 report incorporates disclosures under SASB and the AGA reporting template
PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural Holding Company (NYSE: NWN) has released its first Environmental, Social and Governance (ESG) Report illustrating important work the company is focused on, how its values guide decisions, and its progress on safety, carbon reduction, diversity, community engagement and governance goals.
“Our key initiatives include aggressively pursuing renewable supplies for our gas utility customers, diversifying into and growing our water and wastewater utility business, and working to actively advance social justice in our workplace and our wider community,” said David H. Anderson, NW Natural president and CEO. “This work is not easy and there are no shortcuts, but each year we set goals, make strides and move closer to achieving our vision.”
The ESG report, posted online, incorporates disclosures recommended for the industry by the Sustainability Accounting Standards Board (SASB) and the American Gas Association reporting template.
Highlights from the report include the following:
“I hope this ESG report, through both stories and statistics, conveys the commitment and passion we bring to our work every day in service of our communities and customers,” added Anderson. “NW Natural has a 162-year history of being a dedicated energy provider, leading employer and innovative community ally, and we plan to continue this legacy with passion and principle.”
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests and activities.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through nearly 770,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores.
NW Natural Holdings’ subsidiaries own and operate 35 Bcf of underground gas storage capacity with NW Natural operating 20 Bcf in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 66,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
Media Contact:
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Climate expert determines goal is aggressive and consistent with global climate science
MADISON, Wis.--(BUSINESS WIRE)--The University of Wisconsin-Madison has evaluated Madison Gas and Electric's (MGE) goal of net-zero carbon electricity by 2050, comparing it to the modeled pathways for the electricity sector in industrialized nations to limit global warming to 1.5 degrees Celsius. Relative to publicly available model results for carbon reductions through 2050, MGE's goal is in line with or more aggressive than these model benchmarks for climate solutions.
Led by Dr. Tracey Holloway in the Nelson Institute for Environmental Studies and the Department of Atmospheric and Oceanic Sciences, the study used climate modeling available through the Intergovernmental Panel on Climate Change (IPCC) in the context of the IPCC's October 2018 Special Report.
"We found that the MGE plan is right in line with the level of reductions needed to limit global warming to 1.5 degrees through this century," Dr. Holloway said. "Of course, actually meeting this goal would require carbon reductions well beyond one utility. If actions similar to MGE's plan were also taken around the world, and in other parts of the economy, research suggests it would be effective at keeping the planet under 1.5 degrees warming."
Independent analysis
To evaluate which combinations of energy and land use policies could support a 1.5 degrees Celsius scenario, research groups around the world have developed computer models to project the global temperature response to different assumptions about energy technology and other factors throughout the next 100 years. The results of these computer models were reported in the IPCC's October 2018 Special Report and shared through an online database, which provides researchers, organizations and the general public with information and options to support planning for a low-carbon future.
"Carbon dioxide in the air absorbs heat that would otherwise be released to space, in that way it acts like a blanket on the planet," Dr. Holloway said. "And, just like you might adjust the blankets at night to avoid getting too hot, we need to adjust CO2 emissions to keep the planet from getting too hot. The question becomes, how aggressively do we need to cut those emissions?"
Dr. Tracey Holloway used energy use scenarios in the database for the analysis of MGE operations and the company's deep decarbonization goal. The models suggested that by 2050, emissions from electricity generation in industrialized countries should be 87% to 99% lower than the 2005 baseline. MGE has announced a plan for net-zero carbon emissions by 2050, which is a 100% reduction from 2005 levels. MGE's plan reflects carbon reductions consistent with limiting global warming to 1.5 degrees Celsius to prevent the most severe impacts of climate change.
"MGE chose to partner with Dr. Holloway because she is an expert in the area of climate science," said Jeff Keebler, MGE Chairman, President and CEO. "We appreciate the time, effort and considerable research put forth by Dr. Holloway."
Consistent with climate science
In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities to commit to net-zero carbon by mid-century.
MGE's net-zero goal is consistent with the latest climate science from the October 2018 IPCC Special Report on limiting global warming to 1.5 degrees Celsius. The company's pathway also is consistent with the IPCC's carbon reduction pathways as identified in the UW analysis.
"MGE is on the path toward deep decarbonization, pursuing globally recognized strategies to achieve an ambitious goal that is consistent with the latest climate science. And, consistent with the science, we fully expect to achieve carbon reductions of 65% by 2030. We've said since introducing our clean energy and carbon reduction goals – if we can go further faster through partnerships with our customers and the evolution of new technologies, we will. Our carbon reduction goal reflects our vision and signals our direction but does not determine our pace," said Keebler.
To achieve deep decarbonization, MGE is growing its use of renewable energy, engaging customers around energy efficiency and working to electrify transportation, all of which are key strategies identified by the IPCC and are discussed in Dr. Holloway's analysis. MGE continues to work with Dr. Holloway on further analysis of deep decarbonization strategies locally.
The UW-Madison report, Interpreting Global Energy Scenarios for Emissions Planning at the Utility Scale, is available at minds.wisconsin.edu and at mge.com.
About MGE
MGE generates and distributes electricity to 155,000 customers in Dane County, Wis., and purchases and distributes natural gas to 163,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--#LNG--NextDecade Corporation (NextDecade) (NASDAQ: NEXT) today announced that it has completed a competitive bid and contracting process and has selected Great Lakes Dredge & Dock Corporation (Great Lakes) (NASDAQ: GLDD) to perform essential improvements to the Brownsville Ship Channel (Channel).
These improvements, which include deepening the Channel, will enhance commercial navigation into and out of the Port of Brownsville, ensuring the safe and reliable access of LNG carriers to NextDecade’s Rio Grande LNG facility and optimizing the ability of shallower draft traffic to pass LNG carriers in either direction in accordance with U.S. Coast Guard guidelines. NextDecade, in coordination with the Port of Brownsville, has completed the permitting process for the project activities within the scope of the Dredge and Disposal Construction Agreement (DDCA) announced today.
The DDCA is consistent with NextDecade’s overall Rio Grande LNG construction budget and timeline and features provisions that enable efficient sequencing and coordination with Rio Grande LNG project development activities pursuant to engineering, procurement, and construction contracts executed with Bechtel Oil, Gas & Chemicals in May 2019.
“We have finalized our contract for channel improvements with Great Lakes Dredge & Dock, the nation’s largest provider of marine dredging services,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “These improvements, to be completed without the use of public funds, will benefit existing Port tenants and pave the way for future development of the Port of Brownsville. As we continue to advance our development activities, we are pleased to demonstrate our continued commitment to the Port, to Cameron County, and to the entire Rio Grande Valley.”
“Great Lakes looks forward to partnering with NextDecade on this important project,” said Lasse Petterson, Great Lakes’ President and Chief Executive Officer. “Great Lakes’ extensive dredging experience, proven track record for successful completion of similar projects, and emphasis on safe work performance uniquely qualifies Great Lakes for this work. We are encouraged by the project’s commitment to the Port of Brownsville and we look forward to supporting this effort during our dredging program. This will be the largest project ever undertaken by Great Lakes and we anticipate adding this project to backlog once a Notice to Proceed is received.”
About NextDecade Corporation
NextDecade Corporation (NextDecade) is a liquefied natural gas (LNG) development company focused on LNG export projects. NextDecade is developing the largest LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market, creating value for producers, customers, and stockholders. Its portfolio of LNG projects includes the 27 mtpa Rio Grande LNG export facility in the Port of Brownsville, Texas. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, visit www.next-decade.com.
About Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation (Great Lakes) is the largest provider of dredging services in the United States. In addition, Great Lakes has a long history of performing significant international projects. Great Lakes employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 130-year history, Great Lakes has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through company operations. Great Lakes’ Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the company’s culture. Great Lakes’ commitment to the IIF® culture promotes a work environment where employee safety is paramount.
NextDecade Forward-Looking Information
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about progress in the development of NextDecade’s LNG liquefaction and export projects and the timing of that progress; NextDecade’s final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”) and the timing of that decision; the successful completion of the Terminal by third-party contractors and an approximately 137-mile pipeline to supply gas to the Terminal being developed by a third-party; NextDecade’s ability to secure additional debt and equity financing in the future to complete the Terminal; the accuracy of estimated costs for the Terminal; statements that the Terminal, when completed, will have certain characteristics, including amounts of liquefaction capacities; the development risks, operational hazards, regulatory approvals applicable to the Terminal’s and the third-party pipeline's construction and operations activities; NextDecade’s anticipated competitive advantage and technological innovation which may render its anticipated competitive advantage obsolete; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; the 2019 novel coronavirus pandemic and its impact on NextDecade’s business and operating results, including any disruptions in NextDecade’s operations or development of the Terminal and the health and safety of NextDecade’s employees, and on NextDecade’s customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which NextDecade is engaged; management of growth; general economic conditions; NextDecade’s ability to generate cash; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2019 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference.
Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, acquiring all necessary permits and approval, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
NextDecade
Patrick Hughes
+1-832-209-8131
Great Lakes
Tina Baginskis
+1-630-574-3024
NORFOLK, Va.--(BUSINESS WIRE)--BAE Systems has received a $76.3 million contract from the U.S. Navy to drydock and perform maintenance and modernization work aboard the guided-missile destroyer USS Stout (DDG 55). The docking selected restricted availability (DSRA) contract for the Norfolk-based destroyer includes options that, if exercised, would bring the cumulative value to $100.5 million.
BAE Systems’ Norfolk shipyard will begin working aboard the 510-foot-long ship in January 2021. Under the awarded DSRA contract, BAE Systems will drydock the ship; perform hull, tank and mechanical work; install upgraded electronic and electrical systems; and make other shipboard improvements.
“Our team of employees, subcontractors and Navy personnel are working hard to sustain the workhorse of the fleet – the Arleigh Burke class destroyer,” said Mark Whitney, deputy general manager of BAE Systems Ship Repair and general manager of Norfolk Ship Repair. “We look forward to applying our vast experience to modernize the USS Stout, so that its crew members can do their jobs in defense of our nation for many years to come.”
The USS Stout is named in honor of U.S. Navy Rear Admiral Herald F. Stout (1903-1987). During World War II, then-Commander Stout commanded a destroyer that was assigned to the Little Beaver squadron under then-Commodore Arleigh Burke. He earned two Navy Cross medals for command of the ship. The Stout became the fifth ship of the Arleigh Burke class of guided-missile destroyers, which now numbers 68 ships.
BAE Systems is a leading provider of ship repair, maintenance, modernization, conversion, and overhaul services for the Navy, other government agencies, and select commercial customers. The company operates four full-service shipyards in California, Florida, Hawaii, and Virginia, and offers a highly skilled, experienced workforce, seven dry-docks/railways, and significant pier space and ship support services. The company’s Norfolk shipyard has approximately 1,250 employees and works with the Navy and several subcontractor companies to accomplish its sustainment work.
For more information, please contact:
Karl Johnson, BAE Systems
Mobile: 757-375-5086
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~Greenlane continuing to demonstrate robust growth with record revenue up 30% and sales order backlog up over 350% over the same period last year~
VANCOUVER, British Columbia--(BUSINESS WIRE)--$GRN #RNG--Greenlane Renewables Inc. (“Greenlane” or the “Company”) (TSXV: GRN), today announced its interim financial results for the third quarter ended September 30, 2020. For further information on these results, please see Greenlane’s Condensed Consolidated Interim Financial Statements and Management Discussion and Analysis. All amounts are in Canadian dollars and in accordance with IFRS.
Third Quarter Highlights Include:
“Our record revenue this quarter was the result of conversion of our rapidly growing sales order backlog into the revenue line through execution of our customer contracts,” said Brad Douville, President and CEO of Greenlane. “From Q1 2020, our quarterly revenues have ramped sequentially on average by 50%. This is consistent with the growth rate of our sales order backlog since Q3 of 2019. Sales order backlog growth precedes revenue growth.”
“Our sales pipeline, which feeds our sales order backlog, currently stands at over $690 million and continues to expand year-over-year, which provides more evidence of a growing global focus on the low-carbon energy transition. We’ve been able to achieve these milestones through the hard work of the Greenlane team and the support of our trusted supply chain partners around the world.”
“We continue to have success converting opportunities into contract wins, as our sales order backlog has grown. Our signed agreement with the SWEN Impact Fund for Transition announced during the quarter puts Greenlane in an enviable and unique position in the European market, and we remain optimistic on a strong finish to 2020 as we started off the fourth quarter with a new repeat-customer system supply contract for a Brightmark RNG project in Florida. Chevron’s joint venture with Brightmark further demonstrates the increasing pull by the oil majors to secure attractive RNG offtake in the market including making the necessary project investments. With visibility to more than 180 project opportunities globally, proposed or proceeding, Greenlane remains well positioned to capture a growing share of the RNG value chain as a leading technology and solutions provider.”
The Company’s revenues are largely derived from a relatively small number of large biogas upgrader orders accounted for on a stage of completion basis over typically a nine to eighteen-month period. Timing of new contract awards varies due to customer-related factors such as finalizing technical specifications and securing project funding, permits and RNG off-take and feedstock agreements. Some projects have built-in pause periods to allow customers to complete concurrent activities such as civil work. As a result, the Company’s revenue varies from month to month and quarter-to-quarter.
The Market Outlook
While uncertainty remains with respect to the COVID-19 pandemic and its ongoing impact on global economies, the energy transition is here to stay and will play a meaningful and growing part in countries’ efforts to stimulate their economies while tackling climate change and moving toward a decarbonized future.
The European Union recently released its Methane Strategy, which recognizes the pivotal role of biogas and biomethane in accelerating the reduction of methane emissions from agriculture in Europe and achieving climate-neutrality by 2050. Capturing the methane from agricultural waste, which it estimates is responsible for over half of methane emissions within the Union, not only will play a fundamental role in decarbonizing Europe but will also provide a boost to struggling rural development through the production of biogas and RNG.
Commercial vehicle fleets continue to announce the switch to RNG as an alternative to diesel fuel. According to NGV America and the Coalition for Renewable Natural Gas, in the United States and Canada there are 110 RNG production facilities in operation, 40 under construction and 58 in development and RNG use as a transportation fuel has grown at a 30% compound annual growth rate over the five year period from 2015 through 2019 to reach 39% of all on-road fuel used in natural gas vehicles.
Global oil and gas supermajors are rapidly moving to adopt decarbonization strategies and increase renewable and low carbon energy sources within their respective portfolios, including RNG. Earlier in 2020, Royal Dutch Shell, BP and Total all announced their respective net zero by 2050 ambitions. In July 2020, Shell entered into an agreement with Denmark’s Nature Energy to buy RNG, described as the largest deal of its kind, to provide a range of lower-carbon energy choices for its customers across Europe. In September 2020, BP provided a deep dive on its net zero by 2050 strategy to the investment community, which highlighted that BP is already one of the largest suppliers of RNG to the US transportation sector through its Mavrix joint venture with Aria Energy and supply agreement with Clean Energy Fuels Corp, and that in June 2020 Mavrix agreed to its first dairy manure development with three farms in the Central Valley of California. According to the European Biogas Association, in September 2020 Total S.A revealed a new global business unit dedicated to biogas and biomethane production. In July 2020, Chevron announced its Adopt-a-Port initiative, partnering with Clean Energy Fuels, that provides truck operators serving the ports of Los Angeles and Long Beach with clean, carbon-negative RNG. In October 2020, Chevron announced the formation of a joint venture with Brightmark LLC to own projects across the United States to produce RNG from dairy farms where Chevron will purchase the RNG from these projects and market the volumes for use in vehicles operating on compressed natural gas.
Conference Call
The public is invited to listen to the conference call in real time by telephone. To access the conference call by telephone, please dial: 1-800-319-4610 (Canada & USA toll-free) or 604-638-5340. Callers should dial in 5-10 minutes prior to the scheduled start time and ask to join the Greenlane Renewables conference call.
Shortly after the conference call, the replay will be archived on the Greenlane Renewables website and replay will be available in streaming audio and a downloadable MP3 file.
NON-IFRS FINANCIAL MEASURES
Management evaluates the Company’s performance using a variety of measures, including “Adjusted EBITDA” and “sales order backlog”. The non-IFRS measures should not be considered as an alternative to or more meaningful than revenue or net loss. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. The Company believes these non-GAAP financial measures provide useful information to both management and investors in measuring the financial performance and financial condition of the Company. Management uses these and other non-IFRS financial measures to exclude the impact of certain expenses and income that must be recognized under IFRS when analyzing consolidated underlying operating performance, as the excluded items are not necessarily reflective of the Company’s underlying operating performance and make comparisons of underlying financial performance between periods difficult. From time to time, the Company may exclude additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The exclusion of certain items does not imply that they are non-recurring.
*Reconciliation of net loss to Adjusted EBITDA loss
|
Three months ended
|
Three months ended
|
|
Net income (loss) |
743 |
(1,750) |
|
Add back: |
|
|
|
Share based compensation |
152 |
215 |
|
Depreciation and amortization |
383 |
361 |
|
Finance expense |
101 |
198 |
|
Gain on extinguishment of promissory note |
(1,777) |
- |
|
Foreign exchange loss |
199 |
15 |
|
Change in fair value of special warrants |
- |
(249) |
|
Transaction costs |
- |
350 |
|
Adjusted EBITDA loss |
(199) |
(860) |
Note one - Sales order backlog refers to the balance of unrecognized revenue from contracted projects, where such revenue is recognized over time as completion of projects progress.
Note two - Greenlane maintains a sales pipeline of prospective projects that it updates regularly based on quote activity to ensure that it is reflective of sales opportunities that can convert into orders within approximately a rolling 24 month time horizon. Not all of these potential projects will proceed or proceed within the expected timeframe and not all of the projects that do proceed will be awarded to Greenlane. Additions to the amount in the sales pipeline come from situations where the Company provides a quote on a prospective project and reductions to the sales pipeline arise when the Company loses a prospective project to a competitor, a project does not proceed or, where a quote in the pipeline is converted to Greenlane’s sales order backlog.
Note three - The sales order backlog of $43.8 million disclosed for the quarter ended September 30, 2020 includes the $7.7 million Brightmark contract announced in early October.
All filings related to the third quarter ended September 30, 2020 are available on SEDAR at www.sedar.com.
About Greenlane Renewables
Greenlane is cleaning up two of the largest and most difficult-to-decarbonize sectors of the global energy system: the natural gas grid and the transportation sector. As a leading global provider of biogas upgrading systems, Greenlane’s solutions create clean, low-carbon renewable natural gas (RNG), suitable for injection into the natural gas grid and for direct use as vehicle fuel. Our systems, marketed and sold under the Greenlane Biogas™ brand, remove impurities and separate carbon dioxide from biomethane in the raw biogas created from organic waste at landfills, wastewater treatment plants, farms and food waste facilities. With multiple core technologies, more than 110 systems deployed in 18 countries and counting, and 30+ years’ experience, Greenlane finds the right solution, whatever the specific project requirements. Whether we’re working with waste producers, gas utilities, or project developers, we’re doing more with biogas, helping to turn a low-value product into a high-value renewable resource. For further information, please visit www.greenlanerenewables.com.
FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained in this press release, includes, but is not limited to, Greenlane’s position within the European market, Greenlane’s expected financial performance for 2020, Greenlane’s role in countries’ efforts to stimulate their economies while tackling climate change and moving toward a decarbonized future, Greenlane’s market outlook including capturing methane from agricultural waste playing a fundamental role in decarbonizing Europe and improving rural development through biogas and RNG production, the amount invested in increasing California state RNG supply and the timing of RNG production facilities becoming operational, Greenlane’s position to capture a growing share of the RNG value chain as leading industry provider of biogas upgrading and project development solutions and Greenlane’s order backlog and sales pipeline. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: risks relating to Greenlane’s expected position within the European market, Greenlane’s financial performance of 2020, Greenlane having a role in economies working towards combating climate change, Greenlane’s market outlook, Greenlane’s market share of the RNG value chain, Greenlane as a leading biogas upgrading and project development solutions provider, Greenlane’s order backlog being recognized in revenue and Greenlane’s sales pipeline resulting in orders. Additional risk factors can also be found in the Company's Annual Information Form, which has been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
FINANCIAL OUTLOOK INFORMATION – This news release contains “financial outlook information” regarding Greenlane’s prospective revenue and results, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above. Revenue and other estimates contained in this news release were made by Greenlane management as of the date of this news release and are provided for the purpose of describing anticipated changes, and are not an estimate of profitability or any other measure of financial performance. Investors are cautioned that the financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein. THE COMPANY QUALIFIES ALL THE FORWARD LOOKING STATEMENTS AND FINANCIAL OUTLOOK INFORMATION CONTAINED IN THIS NEWS RELEASE BY THE FOREGOING CAUTIONARY STATEMENTS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this news release.
Incite Capital Markets
Eric Negraeff / Darren Seed
Greenlane Renewables Inc.
Brad Douville, President & CEO,
Ph: 604.493.2004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Port Security Systems Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Port Security Systems Market is projected to grow at a CAGR of over 4% during the forecast period.
Companies Mentioned
Key Market Trends
Screening and Scanning Systems to Dominate the Market
The reactivation of the global economy has fostered the growth of maritime trade as evident from the 2.7% volume expansion in 2018. Increased trade requires port authorities to be constantly proactive vis-a-vis critical aspects of safety and security within the port premises. Hence, numerous screening and scanning systems for both personnel and cargo are being installed at the ports globally.
For instance, In January 2019, OSI Systems Inc. was awarded a ten-year contract to deliver and integrate Rapiscan Eagle P60 high-energy X-ray inspection systems at the Port of Santo Tomas de Castilla, Guatemala. Also, in April 2016, Rapiscan Systems (Rapiscan), a part of OSI Systems, was awarded multiple contracts from both government and commercial entities in Canada for security initiatives at land and sea borders. As per the terms of the contract, Rapiscan would provide the Eagle G60 model for seaport cargo screening and both its 620DV and 628DV systems for cruise ship passenger baggage screening.
Asia-Pacific to Dominate the Market During the Forecast Period
Since 2000, the developing countries have become major exporters of raw materials and have emerged as a major market for imported finished and semi-finished goods. However, the participation in containerized trade has been concentrated in Asia-Pacific, notably in China and neighboring countries. In 2018, Asia-Pacific contributed to around 64% of the global port traffic. Several new ports are being constructed in the region to support the maritime logistics network. For instance, in January 2020, it was announced that a new deep-sea port will form the core of a new economic partnership between China and Myanmar as part of the Belt and Road Initiative (BRI).
The objective of the plan is to rejuvenate the region and connect it to major shipping lanes to promote the import and export of energy and goods, particularly from the Middle-East and Africa. India is also investing significantly in upgrading its port security infrastructure. In 2018, the Indian Ministry of Shipping assigned the responsibility to install 16 container scanners across the major seaports in the country. Five of the thirteen major ports in India, namely the Jawaharlal Nehru Port Trust (JNPT), New Mangalore, Kamarajar (Ennore), Vizag, and Kolkata ports were scheduled to receive such scanning systems during the first phase beginning Q4 2017. In December 2018, a drive-through scanner, with a capacity to scan 100 containers each hour, was installed at the Jawaharlal Nehru Port Trust (JNPT) in Mumbai.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Surveillance Systems
5.1.2 Physical Access Control Systems
5.1.3 Screening and Scanning Systems
5.1.4 Perimeter Intrusion Detection Systems
5.1.5 Real-time Location Systems
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/vdi36a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
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HOUSTON--(BUSINESS WIRE)--ADS Services, LLC (“ADS” or the “Company”), a Black Bay Energy Capital (“Black Bay”) portfolio company, is pleased to announce the acquisition of the PowerChokes™ business unit ("PowerChokes™") from Expro Americas LLC, a part of the Expro Group (“Expro”).
ADS is the Permian Basin leader for cost-effective, reliable, safe, and fully traceable managed pressure drilling (“MPD”) systems. The acquisition of PowerChokes™ significantly enhances the ADS geographic footprint, technology portfolio, and asset base. ADS can now provide the industry's most economical, autonomous, and compact MPD offering as part of their comprehensive, bundled services. The Company has recently opened the industry’s only dynamic MPD testing and training school, including a high-capacity and high-pressure flow loop. This facility will be open to clients in early 2021 for training of E&P operator staff, rig and wellsite personnel on the systems and procedures used for managed pressure drilling and dynamic well control.
Charlie Orbell, President & CEO of ADS, said, “For over two decades, PowerChokes™ has been the premier provider of well control chokes, pressure relief systems and premium MPD equipment. ADS is thrilled to combine the PowerChokes™ team, manufacturing and sales capabilities, and intellectual property portfolio with ADS’ existing next-generation approach to the managed pressure drilling market. The MPD & pressure control sector needs improved automation and rig control system integration, and this acquisition enables ADS to be the clear market leader.”
The PowerChokes™ business unit consists of pressure control-related product sales and service, along with a rental offering of well control and MPD equipment. PowerChokes™ product sales and services are provided for various domestic, offshore, and international drilling markets, and will soon be introducing new products for the completion and production pressure control markets.
“By combining the ADS platform with PowerChokes’™ unique sales footprint and intellectual property portfolio, Charlie and the team can provide the drilling market with fully integrated, lower-cost, and safer pressure control solutions. The combined ADS and PowerChokes™’ team will deliver the next step-change towards automated well control for the onshore US, offshore, and international markets,” said Tom Ambrose, Partner of Black Bay.
In addition to acquiring the PowerChokes™ business unit, ADS and Expro are establishing an international partnership agreement to provide value-added MPD services in several regions around the world. Keith Palmer, Expro’s Product Line Executive Vice President, said, “Since Expro acquired PowerChokes 14 years ago, it has grown to be a well-established and recognized brand in its own right. This is a positive step forward for both Expro and ADS, and I am excited to collaborate on projects in the future where we can utilize our specific resources and skills both domestically and internationally.”
Fishman Haygood acted as legal counsel to ADS and Black Bay.
About ADS Services
ADS has established a highly skilled team of pressure-control professionals to deliver premium and innovative managed pressure drilling and well control solutions to the oil and gas industry. Based in Midland and Houston, the Company has a presence in the key US shale plays and provides products and services for the offshore and international markets. ADS recently opened the industry’s first managed pressure drilling technical training school, at its Odessa, TX manufacturing facility. The Company partnered with Black Bay Energy Capital in 2017 to expand its product suite and customer base, with particular emphasis on growth in the high-pressure drilling markets in the Permian Basin.
For more information, please visit: www.adsmpd.com
About Black Bay Energy Capital
Black Bay Energy Capital (“Black Bay”) is an energy private equity firm focused on the North American oilfield service sector. Black Bay invests equity capital in businesses managed by talented entrepreneurs that provide a differentiated product or service to the industry. Black Bay's investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth oilfield service companies. Black Bay spends every day collaborating with successful, driven oilfield management teams and has the experience to know what it takes to be successful.
For more information, please visit: www.blackbayenergy.com
About Expro Group
Expro is the well flow optimization expert. Combining innovative disruptive technology with high quality data across well testing, subsea well access, well intervention and production services, delivering a service that’s not just state of the art but highly accurate.
For more information, please visit: www.exprogroup.com
ADS Services, LLC
Charlie Orbell
(432) 218-4700
Black Bay Energy Capital, LLC
Tom Ambrose
(504) 227-3020
Expro Group
Hannah Rumbles
(+44) 7740 377 269
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