DUBLIN--(BUSINESS WIRE)--The "Monoethylene Glycol Market, by Production Process, by Application, by End-use Industry, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
This report provides an in-depth analysis of the global monoethylene glycol market, market size (US$ Billion & Tons), and compound annual growth rate (%CAGR) for the forecast period (2022-2028), considering 2020 as the base year
Monoethylene glycol is also known as 1, 2-ethanediol and is soluble in a wide range of chemical compounds, alcohols, and water. Ethylene Oxide hydrolysis produces it primarily, with the emission of two co-products, Diethylene Glycol (DEG) and Triethylene Glycol (TEG).
Natural gas, coal, naphtha, and bioethanol are the feedstocks used to make monoethylene glycol, hence the market is divided into four types based on the sources from which it is made. Natural gas, followed by naphtha and coal, accounts for the majority of monoethylene glycol production. Due to mounting environmental concerns, most businesses are now focusing on producing biobased monoethylene glycol rather than petrochemical-based monoethylene glycol.
Monoethylene glycol is utilized in coolants and de-icing materials because of its chemical features, which include high viscosity, high boiling point, and low freezing point. PET and polyester resins are made primarily from monoethylene glycol. It is frequently utilized as a raw ingredient in the production of fabrics and polyester fibres.
Among other things, it's used as a coolant, anti-freeze, dewatering agent, chemical intermediate, humecant, and anti-corrosion agent. Monoethylene Glycol is also used in the making of tobacco, food and beverages, pharmaceuticals, and cosmetics, among other things.
The expansion of the monoethylene glycol market would be aided by rising demand for PET packaging in various commercial and industrial end-use applications. Clothing, industrial fabrics, and non-woven fabrics are just a few of the industries where fibers are used.
Some of the features of these fabrics, such as resistance to moisture, stains, oil, and water, have led to increased demand for them. It's abrasion-resistant and wrinkle-resistant. As a result of these characteristics, the use of fibre in textile sector and the monoethylene glycol market will grow in the forecast period.
On the other hand, MEG is extremely toxic to people; consumption has been shown to have a negative influence on the kidneys, the heart, and the central nervous system, which is limiting the market growth.
Key features of the study:
Detailed Segmentation:
Global Monoethylene Glycol Market, By Production process:
Global Monoethylene Glycol Market, By Application:
Global Monoethylene Glycol Market, By End-use Industry:
Global Monoethylene Glycol Market, By Region:
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/nhvmlb
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WASHINGTON--(BUSINESS WIRE)--#Electrification--The Environmental and Energy Study Institute (EESI) and the Beneficial Electrification League (BEL) have launched a free resource to help utilities and their customers go electric: the Beneficial Electrification Toolkit.
The Toolkit is a first-of-its-kind online compendium of resources that aims to help utilities and their customers manage the transition to increased electrification by guiding them through creating successful, accessible, and equitable programs.
Electrification is considered beneficial when it achieves at least one condition (without harming the others): saving consumers money, reducing emissions, improving quality of life, or strengthening the grid.
Beneficial electrification is accelerating as technologies such as heat pumps and electric vehicles improve and electric power becomes cleaner.
“The Beneficial Electrification Toolkit is a one-stop-shop that utilities can use to answer any of their electrification questions,” said EESI Executive Director Daniel Bresette.
“As a concept, beneficial electrification has moved rapidly into the lexicon, but now we need to fill in with details that can ensure these programs succeed and everyone benefits,” said BEL President Keith Dennis.
Set up as a step-by-step guide, the Beneficial Electrification Toolkit walks utility staff through the process of developing electrification programs for their customers.
The Toolkit also features successful case studies.
From technology explainers to program implementation, the Toolkit can help utilities create electrification programs for today and tomorrow. Explore the Toolkit at betoolkit.org.
Thank you to all of the donors who made this possible, especially The JPB Foundation, Energy Foundation, McKnight Foundation, and the Merck Family Fund.
The Environmental and Energy Study Institute (www.eesi.org) is an independent, non-profit organization advancing policy solutions to set us on a cleaner, more sustainable energy path. EESI was founded by a bipartisan Congressional caucus in 1984 and serves as a trusted source of credible, non-partisan information on energy and environmental issues.
The Beneficial Electrification League (www.be-league.org) is a non-profit organization dedicated to promoting beneficial electrification of the economy. BEL works across utilities, manufacturers, and energy companies to advance education, technology, and policy on beneficial electrification.
Amaury Laporte, This email address is being protected from spambots. You need JavaScript enabled to view it., (202) 662-1884 (EESI)
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CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 32,467,532 common shares (“Shares”) at a price of $77.00 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $2.5 billion of its Shares. All amounts are in Canadian dollars.
The Shares purchased represent an aggregate purchase of $2.5 billion and 4.9 percent of the total number of Imperial’s issued and outstanding Shares as of the close of business on May 2, 2022. Immediately following completion of the Offer, Imperial has 636,676,182 Shares issued and outstanding.
A total of 9,867,766 Shares were taken up and purchased pursuant to auction tenders at or below the Purchase Price and pursuant to purchase price tenders. Since the Offer was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders had approximately 96 percent of their tendered Shares taken up by Imperial (other than “odd lot” tenders, which were not subject to proration). 22,599,766 Shares were taken up and purchased pursuant to proportionate tenders.
Exxon Mobil Corporation (“ExxonMobil”), Imperial’s majority shareholder, made a proportionate tender under the Offer in order to maintain its proportionate Share ownership at approximately 69.6 percent, resulting in 22,597,379 Shares being taken up pursuant to the Offer. Immediately following completion of the Offer, ExxonMobil holds 443,126,164 Shares.
Imperial has accepted the Shares tendered for purchase and has made payment for the Shares by delivering the aggregate purchase price to Computershare Investor Services Inc., the depositary for the Offer (the “Depositary”). Payment and settlement with shareholders will be effected by the Depositary on or about June 21, 2022, all in accordance with the Offer and applicable law. Any Shares not purchased, including such Shares not purchased as a result of proration or Shares tendered pursuant to auction tenders at prices higher than the Purchase Price or invalidly tendered, will be returned to shareholders as soon as practicable.
To assist shareholders in determining the tax consequences of the Offer, Imperial estimates that a deemed dividend in the amount of $75.25 per Share was triggered on the repurchase of each Share, based on the estimated paid-up capital of $1.75 per Share at June 10, 2022. The dividend deemed to have been paid by Imperial to Canadian resident persons is designated as an “eligible dividend” for purposes of the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.
For the purposes of subsection 191(4) of the Income Tax Act (Canada), the “specified amount” in respect of each Share is $69.19.
Shareholders should consult with their own tax advisors with respect to the income tax consequences of the disposition of their Shares under the Offer.
The full details of the Offer are described in the offer to purchase and issuer bid circular dated May 6, 2022, as amended on May 31, 2022, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.
Imperial is one of Canada’s largest integrated oil companies. It is active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil and natural gas. In Canada, it is a major producer of crude oil, the largest petroleum refiner and a leading marketer of petroleum products. It is also a major producer of petrochemicals. The company’s operations are conducted in three main segments: Upstream, Downstream and Chemical.
Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, expect, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this release include, but are not limited to, references to timing of payment and settlement with shareholders by the Depositary; the return of Shares not purchased; and the estimated deemed dividend triggered on the repurchase of each Share.
Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual results, including expectations and assumptions could differ materially depending on a number of factors. These factors include those discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
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GT2c and GT2h Uniquely Pair Cellular and Hybrid (Dual-Mode) Connectivity with Solar Power for Extended Battery Life and Global Coverage
DALLAS--(BUSINESS WIRE)--Geoforce, a leading global provider of satellite- and cellular-based rugged asset tracking and monitoring solutions, has announced the launch of two new asset trackers that offer flexible and cost-effective coverage options, the industry’s best battery life, and unmatched durability with Zone 0 certification for safe operation in explosive environments. The GT2c and the GT2h asset tracking devices are new additions to Geoforce’s existing GT2 product line, which, with its solar-powered rechargeable battery and back-up battery, can offer up to 10 years of service life.
The new GT2c device operates on LTE-M low-power cellular IoT networks, offering an optimal solution for operators utilizing assets in cellular service range and who want cost-effective tracking.
The new GT2h device provides a unique hybrid solution that operates on cellular networks where available but automatically switches to global Iridium-powered satellite connectivity if cellular coverage is lost.
These new GT2c and GT2h rugged asset trackers also offer seamless integration with the company’s robust Track and Trace software platform. Geoforce’s Track and Trace platform gives field operations, and equipment management leaders critical visibility into their assets deployed on- or off-road, providing a range of reporting configurations to support each operator’s business requirements.
“The addition of the GT2c and the GT2h to our long-lasting, solar-powered line of tracking devices reinforces Geoforce’s position as a global leader in asset traceability solutions,” said James Maclean III, CEO of Geoforce. “Our GT2 devices underscore Geoforce’s promise that your assets and opportunities can always be in view. We can confidently say that our expanded GT2 line is raising the bar on asset visibility and rugged reliability for our customers around the world.”
The GT2c and GT2h devices join the satellite-only GT2s as key additions to Geoforce’s already comprehensive suite of tracking solutions for businesses operating non-powered assets, powered equipment and fleet vehicles. The full line of intrinsically safe, solar-powered GT2 devices provides Geoforce customers with a wide range of reporting options and industrial-strength durability in even the harshest conditions and most remote locations.
Both the GT2c and GT2h asset trackers are now available in the U.S., with plans to expand into Canada and other countries later in 2022.
About Geoforce
Combining a cloud-based software platform with ruggedized GPS tracking devices, Geoforce’s Track and Trace solutions bring control to even the most remote field operations. Our asset tracking devices are built for the world’s toughest field operators in oil and gas, equipment rental, rail, construction, mining, transportation, government/defense, and agriculture. Today more than 1,300 customers track 160,000+ assets in more than 90 countries. Headquartered in Dallas, Texas, Geoforce operates a research and development office in Bozeman, Montana, and sales and support offices throughout the U.S. and in Brazil, Australia, and Canada. For more information, visit https://geoforce.com.
Matt Hummel
972.546.3878
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CEO Susan Stone Will Engage Global Tech Conference Attendees on Key to Enhancing Mass Adoption by Balancing Urgent Need for Climate Tech & Preserving Traditional Supply Chains
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Ubiquitous Energy, a next-generation technology company developing truly transparent solar technology, announced today that its CEO Susan Stone will be speaking at Collision (Toronto, June 20-23), one of the world's biggest tech conferences for startups, entrepreneurs, investors, media, celebrities and sought-after policy perspectives.
Susan has been invited to give several talks during the event. She will be speaking on the event’s center stage on June 21st highlighting Ubiquitous Energy and how the company’s patented transparent solar technology will help to combat the effects of climate change. She will also join a panel discussion entitled “What’s in Your Supply Chain Survival Kit” where she will discuss how the company’s unique approach to the supply chain has opened doors to major partnerships and key investors.
As one of the event’s featured breakout startups, Ubiquitous Energy will have a booth in the event’s growth pavilion for future investors, fans, and partners to stop by and learn more. In addition, Susan will speak on June 22nd on the growth summit stage as a thought leader on product disruption in a talk entitled “Disrupting the Product, Not the Supply Chain.”
Susan’s Collision speaking sessions follow her appearance on Bloomberg Canada where she discussed the efficacy of the company's transparent solar technology that lets windows and other surfaces capture solar energy without impacting their transparency and visual aesthetics; and her recent panelist interview on The Washington Post Live’s “Protecting Our Planet” series about the role of technology in curbing the human impact on climate change.
“I’m excited to participate in Collision, one of the most important gatherings of the tech sector, at this critical time for the intersection of climate change and technology solutions,” said Susan Stone, CEO of Ubiquitous Energy. “Like our own team, attendees at this event are gathering to learn about innovation and how to drive mass adoption of the compelling solutions available today in the climate tech sector and many other fields. I am honored to have been selected as a speaker and panelist and I look forward to engaging the audience as well as gaining new learnings, insights, and discoveries.”
For additional information on the Ubiquitous Energy schedule at Collision, visit our blog.
About Ubiquitous Energy
Headquartered in Silicon Valley, Ubiquitous Energy is a next-generation technology company that provides energy-efficient, transparent solar windows to both commercial and residential customers. A world leader in transparent photovoltaics, its award-winning technology was born from some of the world’s most prestigious university labs and is the world’s only truly transparent solar product. UE Power™ is a solar coating that integrates into standard windows without sacrificing beauty, design, or vision, with endless possibilities for future applications. For more information please visit us at https://ubiquitous.energy/ or connect with us via Facebook, Twitter, or Linkedin.
About Collision
For two years in a row, Collision – North America’s fastest growing technology event – moved online. Making the pivot to host thousands of attendees online was referred to by the Sunday Times as a “pretty big experiment”. Now, Collision is returning in person to host the largest international event in Toronto in more than two years, with 33,000-plus attendees anticipated at Collision in the Enercare Centre from June 20-23, 2022. For more information, visit https://collisionconf.com/.
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IRVINGTON, N.Y.--(BUSINESS WIRE)--#BestWorkPlaces--X-Caliber Capital, a national, direct commercial real estate lender focused on impact lending, announced today that Fortune has honored the company as one of this year’s Best Workplaces in New York. This is X-Caliber Capital’s first time being named to this prestigious list, coming in at 35. Earning a spot means that X-Caliber Capital is one of the best companies to work for headquartered in New York.
This year’s Fortune Best Workplaces in New York award is based on employee feedback collected through America’s largest ongoing annual workforce study of over one million employee survey responses and data from companies representing more than 6.1 million U.S. employees. In that survey, 100% of X-Caliber’s employees said the company is a great place to work, compared to 57% of employees at a typical U.S.-based company.
“At X-Caliber, we have built the foundation of our company on our people and our culture, so this recognition by Fortune is an affirmation of our commitment to creating the best workplace possible,” said Chris Callahan, President and CEO. “We strive to live by our core values, and in doing so, work hard to nurture and grow an atmosphere that supports success, happiness, and an overall positive work environment.”
The Fortune Best Workplaces in New York list is highly competitive. Great Place to Work, the global authority on workplace culture, selected the list using rigorous analytics and confidential employee feedback. Companies were only considered if they are a Great Place to Work-Certified™ organization and headquartered in the New York metropolitan statistical area.
Great Place to Work is the only company culture award in America that selects winners based on how fairly employees are treated. Companies are assessed on how well they are creating a great employee experience that cuts across race, gender, age, disability status, or any aspect of who employees are or what their role is.
“As employee demands and expectations have dramatically changed over the past year, these companies have risen to the occasion—and it’s not been easy,” says Kim Peters, executive vice president of global recognition, research & strategic partnerships at Great Place to Work. “Their hard work and dedication to listen to and care for the well-being of every employee, and support them in a way that’s meaningful to all, is the standard all organizations will be held to.”
In December 2021, X-Caliber Capital was certified as a Great Place to Work, a national certification that means X-Caliber Capital is one of the best companies to work for in the country. To learn more about what makes X-Caliber Capital a great culture, check out our Great Place to Work profile here.
About X-Caliber – www.x-calibercap.com
X-Caliber Capital is a nationally recognized direct commercial mortgage lender and loan servicer. We are an FHA-approved Multifamily Accelerated Processing (MAP) lender and GNMA-approved MBS issuer, and together with our affiliates, provide bridge, USDA, and C-PACE financing solutions.
We strive to deliver to our clients, and to the communities in which we lend, the best financing solutions available to support their business goals, while focusing on some of the nation’s greatest challenges – affordable housing, the environment, care for our seniors, and rural businesses. By leveraging the most effective private and government programs in the country, we can harness the power of our expertise and practice the values for which we stand, so we can make the world a better place for all.
About the Best Workplaces in New York™
Great Place to Work selected the Best Workplaces in New York by gathering and analyzing confidential survey responses from its study of thousands of companies representing more than 6.1 million U.S. employees at Great Place to Work-Certified™ organizations. Companies must be headquartered in the state of New York to be eligible. Company rankings are derived from 60 employee experience questions within the Great Place to Work Trust Index™ survey. Read the full methodology.
About Great Place to Work®
Great Place to Work is the global authority on workplace culture. Since 1992, it has surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Its employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything it does is driven by the mission to build a better world by helping every organization become a great place to work For All™.
Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that it entered into a Purchase Agreement (“Purchase Agreement”) to repurchase approximately $350 million of the Company’s common shares beneficially owned by Carl C. Icahn and certain of his affiliates (“Icahn Enterprises” or “IEP”), at a purchase price of $130.52 per share, the closing price of Cheniere’s common shares on June 14, 2022. The purchase of the shares will be funded from Cheniere’s cash on hand and is a part of the Company’s $1 billion share repurchase authorization. The transaction is expected to close no later than June 21, 2022.
Pursuant to a nomination and standstill agreement entered in 2015, the Company agreed to give Icahn Enterprises one board seat for as long as it continued to hold at least 7,741,412 Company common shares. This transaction will result in Icahn Enterprises’ holdings in the Company to be under this threshold and the remaining director designee, Andrew Teno, will resign from the board of directors within two business days following the closing of the Purchase Agreement.
“Today’s $350 million repurchase reflects efficient execution on our long-term capital allocation plan and underscores our conviction in Cheniere’s industry-leading LNG platform at a time when environmental priorities and energy security have natural gas as a key focus globally,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “We appreciate Carl Icahn and his Board representatives for their support of Cheniere over these last almost seven years as we have become the world’s second largest LNG operator. They have provided guidance and insight which has meaningfully contributed to Cheniere’s growth and strategy over that time.”
“Our investment in Cheniere is a shining example of IEP’s activism efforts. We were instrumental in hiring CEO Jack Fusco, who has assembled a great team and unlocked the value of a fantastic asset. As we have said many times, when the time for activism is over, we generally take a profit on a portion of our stock. To date, we have made over $1.3 billion in realized and unrealized gains on Cheniere and, even after the sale today, we still remain sizeable owners of Cheniere stock,” said Carl Icahn.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 mtpa of LNG in operation. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third-parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
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Company Demonstrates Ability to Stay Over Area of Operation
Announces Additional 2022 Test Flights
ROSWELL, N.M.--(BUSINESS WIRE)--Sceye, a manufacturer of High-Altitude Platform Stations (HAPS), announced today that it reached the stratosphere with the aim of demonstrating the ability to stay over an area of operation for months at a time using renewable energy sources. The milestone test launch, which is using patented solar and battery power, puts Sceye on track to expand internet access to remote populations, monitor greenhouse gasses down to individual emitters, and detect natural disasters as they begin. The company also announced additional test flights for Q3 and Q4 2022.
Sceye’s HAPS launched at 6:55 AM MDT from the company’s hangar at the Roswell International Airport.
“Today’s test flight holds extraordinary potential for stratospheric discovery,” said Sceye founder and CEO, Mikkel Vestergaard Frandsen. “By maintaining position in the stratosphere for extended periods of time, we can begin realizing the promises of the stratosphere for life on Earth. Universal internet access, methane monitoring, and wildfire detection are all at our fingertips.”
Today’s launch objectives were to:
Sceye’s HAPS design, in the form of an enhanced balloon, can lift a variety of payloads for connectivity, earth observation, and scientific research. Its hull fabric can manage the extreme environment of the stratosphere, and optimizes strength, helium retention, and thermal management. High-performance batteries and solar panels close the power loop: enough power storage to last until sunrise, and efficient solar cells to collect energy during the day.
“We are thrilled to see years of research and development culminating in this milestone moment,” said David Kim, Sceye’s Chief Technology Officer. “It is the very best application of material science pushing the boundaries of near space.”
Chief of Mission Operations, Stephanie Luongo, said, “This launch is the second of six in our test program this year intended to verify payload and automated flight while ensuring safe operations. We’re excited to learn more from upcoming flight tests planned for late summer and fall.”
In October 2021, Sceye was the first to connect a Massive MIMO antenna with 3D beamforming from the stratosphere directly to smartphones on the ground over a 140 km distance — a world record in Open RAN. In March 2022, Sceye successfully validated its automated flight software which increases the reliability of its HAPS during its most critical phases of flight – launch and ascent.
Sceye has partnered with the U.S. Environmental Protection Agency (EPA), New Mexico Economic Development Department, and New Mexico Environment Department on a five-year study to monitor air quality in the State of New Mexico. Sceye’s HAPS will track methane emissions with a sub 1-m resolution, allowing them to determine pollution levels as well as pinpoint individual emitters.
About Sceye
Sceye is a material science company founded in 2014 to unleash the possibilities in the stratosphere by uplifting and connecting all people, and protecting our planet. The company has developed a new generation of stratospheric platforms to provide universal and equitable connectivity, improve climate change monitoring, natural resource stewardship, forest fire monitoring and better detect and contain disasters before they spiral out of control.
Sceye continues the humanitarian work of founder and CEO Mikkel Vestergaard Frandsen. As owner and former CEO of the public health companies Vestergaard and LifeStraw, he led innovations in material science that have saved millions of lives. LifeStraw water filters have helped nearly eradicate Guinea worm disease, and PermaNet, bed nets made from innovative fibers that release microscopic doses of insecticide, have helped reduce global malaria deaths by more than half.
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HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced today that President and Chief Executive Officer Roderick A. Larson will make a presentation at the J.P. Morgan Energy, Power & Renewables Conference, in New York on Wednesday, June 22, 2022. Mr. Larson and other members of management will also meet with institutional investors.
The conference handout is available through the Investor Relations section of Oceaneering’s website at www.oceaneering.com.
Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries.
For more information on Oceaneering, please visit www.oceaneering.com.
Mark Peterson
Vice President, Corporate Development and Investor Relations
Oceaneering International, Inc.
713-329-4507
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GEBZE KOCAELI, Turkey--(BUSINESS WIRE)--Togg is a forward-thinking mobility solution that brings together advanced electric, smart and connected technologies within one intelligent, user-centric, and empathetic design concept called USE-CASE Mobility®, integrated with their own next-generation smart- and connected-electric vehicles.
M. Gürcan Karakaş, Togg CEO said: "We are designing more than a smart car, What we are buildingservices is an open mobility ecosystem that is interconnected and interoperable with others. This is what the future of mobility holds.”
Merging Smart Technologies for a Seamless Mobility Experience
The automotive industry is going through the same evolution as the mobile phone industry did in the past. . This led Togg to (re)think the whole mobility experience that will connect the dots of the smart home, the mobile services used on the go, the smart city, and much more. We are building this intermodal future from the backend to the user experience.
We need to understand what users’ expectations will be in the years to come. This is as much a technological revolution as it is a social one, that put the user at the center of the experience New business models will be fundamental as blockchain systems allow data and other assets to be stored and transferred in a fast, secure, and environmentally friendly process.
New Players for a new Industry
The commitments made by governments to address climate change stand out among the factors shaping the transformation in the mobility ecosystem. The current race for range, battery technology, and comfort is 100% legitimate, and Togg is pushing forward with its own batteries developed by Siro Silk Road Clean Energy Solutions, a joint venture with Farasis Energy. Togg is building the best smart device they possibly can, but the gamechanger will be how we experience mobility and how cars are connected to our lives, as much as any other smart device.
Gürcan Karakaş, Togg CEO, concludes: “VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) is not a bad word, it is an opportunity. Fintech, AI or UX are integral to the challenges of this new area, and Togg is fully embracing them. Our industry will not only be shaped by the biggest companies, but the smartest and most agile ones.”
About Togg https://www.togg.com.tr/en/
An intellectual property of Turkey, Togg is a globally competitive USE-CASE Mobility ® brand. Togg was established on June 25, 2018, as a joint venture of Anadolu Grubu Holding A.Ş., BMC Otomotiv Sanayi ve Ticaret A.Ş., Turkcell İletişim Hizmetleri A.Ş., Zorlu Holding A.Ş. and the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
Togg will commence production of its high-tech innovations at its Gemlik facility in 2022, as part of the company’s focus on developing next-gen smart and connected electric vehicles as well as the advanced surrounding mobility ecosystem. The company also develops highly conceptual and pioneering technologies, services, customer experiences, and business models across many different industries.
Togg aims to reach production of one million units across five connected electric vehicle models by 2030, with all five developments being created from a common architecture.
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LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) today announced amendments to and extension of its solicitation of consents (the “Consent Solicitation”) from the holders of its outstanding 7.125% Senior Notes due 2026 (CUSIP Nos. 13057QAH0, 13057QAJ6 and U1303AAE6) (the “Notes”) to the proposed amendment to the indenture governing the Notes (the “Proposed Amendment”) described in the Consent Solicitation Statement dated June 6, 2022, as amended by the Company’s press release dated June 13, 2022 and as further amended by a Supplement dated June 15, 2022 (as amended, the “Statement”). The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in the Statement.
The expiration time for the Consent Solicitation is being further extended to 5:00 p.m., New York City time, on June 17, 2022 (the “Expiration Time”), unless further extended or earlier terminated by the Company. The record date (the “Record Date”) for determining holders of the Notes entitled to give consents and receive the Consent Fee (as described below) remains 5:00 p.m., New York City time, on June 3, 2022.
The Company has increased the cash payment (the “Consent Fee”) to be paid if the Company receives the consents required to approve the Proposed Amendment and the other conditions to the Consent Solicitation are satisfied or waived. The aggregate Consent Fee will be $9,000,000, to be shared by all consenting holders who validly deliver consents to the Proposed Amendment before the Expiration Time. Specifically, the Consent Fee will be an amount, per $1,000 principal amount of Notes for which a holder has validly delivered (on or prior to the Expiration Time) its consent, equal to the product of $15.00 multiplied by a fraction, the numerator of which is the aggregate principal amount of Notes outstanding at the Record Date for the Consent Solicitation and the denominator of which is the aggregate principal amount of Notes for which the holders have validly delivered consents prior to the Expiration Time. As a result, the Consent Fee for the Notes will range from $15.00 per $1,000 (if all holders consent) to approximately $30.00 per $1,000 (if holders of only a majority of the aggregate principal amount of the Notes consent).
Receipt of the Consent Fee by a consenting holder will result in a “significant modification” of such consenting holder’s Notes for United States federal income tax purposes, resulting in a deemed exchange of such consenting holder’s Notes. Such a deemed exchange will be a taxable event (unless a non-recognition provision were to apply). Holders should consult their own tax advisors regarding the tax consequences of the Consent Solicitation.
The Supplement dated June 15, 2022 describes certain revisions to the Proposed Amendment and includes updated disclosure regarding tax consequences to the holders of the Notes in connection with the Consent Solicitation.
Holders of the Notes are referred to the Statement for the detailed terms and conditions of the Consent Solicitation, all of which remain unchanged except as set forth in this release and the Supplement dated June 15, 2022. Holders of the Notes who have validly delivered their consents with respect to the Proposed Amendment do not need to deliver new consents or take any other action in response to this announcement in order to consent to the Proposed Amendment. Consents (whether previously or hereafter delivered) with respect to the Proposed Amendment may not be revoked once given, except in the limited circumstances described in the Statement.
CRC reserves the right to modify the Statement and the terms and conditions of the Consent Solicitation or to terminate the Consent Solicitation at any time.
MUFG Securities Americas Inc. and Citigroup Global Markets Inc. are the Joint Solicitation Agents. Global Bondholder Services Corporation has been retained to serve as the Information and Tabulation Agent for the Consent Solicitation. Persons with questions regarding the Consent Solicitation should contact MUFG Securities Americas Inc. at (toll free) (877) 744-4532 or (New York) (212) 405-7481 or Citigroup Global Markets Inc. at (toll free) (800) 558-3745 or (collect) (212) 723-6106. Requests for the Statement should be directed to Global Bondholder Services Corporation at (toll free) (855) 654-2015 or (collect) (212) 430-3774 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it..
None of the Company, the Joint Solicitation Agents, the Information and Tabulation Agent, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether holders should deliver Consents in response to the Consent Solicitation. Holders must make their own decision as to whether to participate in the Consent Solicitation, and, if so, the principal amount of Notes in respect of which to deliver Consents.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Consent Solicitation is being made only pursuant to the Statement and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of the Company by the Joint Solicitation Agents, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About California Resources Corporation
CRC is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing Carbon Capture and Storage and other emissions reducing projects.
Forward-Looking Statements
All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements regarding the Consent Solicitation, the timing thereof, and the Company’s intention to fund the Consent Solicitation, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company’s business, most of which are difficult to predict and many of which are beyond the Company’s control. These risks include, but are not limited to, the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequently filed Quarterly Report on Form 10-Q.
Joanna Park (Investor Relations)
818-661-3731
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Richard Venn (Media)
818-661-6014
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Company’s clean energy, support of customers and community leadership on display
MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy released its 17th annual Sustainability Report today, highlighting the company’s commitment to delivering reliable, affordable natural gas and electricity service, while protecting the environment and building a better energy future for its customers.
“While we’re focused on meeting our customers’ needs today, our eyes are also on the future—on what value we can deliver in the next one to two decades,” said Bob Frenzel, chairman, president and chief executive officer of Xcel Energy. “We’re committed to continuing our clean energy leadership, meeting our 2030 clean energy goals, and addressing other pressing issues that affect our company and the communities we serve.”
Xcel Energy has led the clean energy transition since 2005 and was the first U.S. energy provider to set aggressive goals across all the ways its customers use energy: electricity, heating and transportation. Together, all three commitments represent a comprehensive vision that positions Xcel Energy to become a net-zero energy provider by 2050.
In the report, the company outlined progress on its clean energy transition:
Supporting our customers
Keeping customer bills low is a priority for Xcel Energy as it continues leading the clean energy transition. From 2017 to early 2022, Xcel Energy added 14 new wind farms across seven states providing customers $1.8 billion in reduced fuel costs and tax credits with a cleaner electricity product.
Xcel Energy has one of the longest running, most successful portfolios of energy efficiency programs to help customers manage energy use and their bills. Through 175 different programs in 2021, customers completed more than 4 million conservation projects, saving enough energy to power over 200,000 homes. Approximately 275,000 customers participate in the company’s renewable energy choice programs, which are among the most innovative and extensive in the industry.
Each of these programs helps support the company’s efforts to maintain some of the lowest priced energy in the nation. According to data from the U.S. Energy Information Administration, Xcel Energy’s residential bills have remained below the national average for more than a decade.
Investing in communities and people
Xcel Energy set and achieved new targets in 2021 for diversity, equity and inclusion. The company focused on using diverse interview panels for hiring, implementing executive sponsorships, and listening to employee feedback on inclusion in the workplace. As a result, 99% of employment offers were extended to candidates interviewed by diverse employees, female representation increased 6% and diverse representation increased 5% in three years among Xcel Energy’s senior leadership.
Sixty percent of the company’s spending on goods and services was with local businesses in 2021. The company purchased about $560 million in goods and services from diverse suppliers. Through the company’s economic development focus, it worked with local partners to attract 20 new business development projects that will add an estimated $1 billion in capital investment and approximately 5,000 jobs to support our communities.
Xcel Energy and its employees also stepped up in a big way to support these communities, volunteering nearly 70,000 hours with local nonprofits, and collectively—through the Xcel Energy Foundation, the company and employees—invested about $14.9 million in our communities through donations and volunteer time.
To view the entire report, xcelenergy.com/sustainability. For more coverage of the Sustainability Report and other stories about Xcel Energy, see the company’s recently relaunched blog, Between the Lines, at stories.xcelenergy.com.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
About Xcel Energy Foundation
The Xcel Foundation is a 501(c)(3) organization that awards charitable grants to nonprofit organizations and sponsors the volunteer programs of Xcel Energy and its subsidiaries. The majority of Xcel Energy Foundation funding comes from Xcel Energy shareholder dollars. For more information, visit https://www.xcelenergy.com/community/focus_area_grants.
Forward-Looking Statements
This release contains forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements include projections related to emission reductions and statements about changes in our generation portfolio, such as the end of coal use, renewable energy use targets and renewable energy expansion, are identified in this document by the words “aim”, “aspire”, “assuming”, “believe”, “could”, “expect”, “may”, and similar expressions. Actual results may vary materially. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including the availability of credit, actions of rating agencies and their impact on capital expenditures; business conditions in the energy industry: competitive factors; unusual weather; effects of geopolitical events; including war and acts of terrorism; changes in federal or state legislation; regulation; actions of regulatory bodies; and other risk factors listed from time to time by Xcel Energy in its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021 (including the items described under Factors Affecting Results of Operations) and the other risk factors listed from time to time by Xcel Energy Inc. in reports filed with the SEC.
Xcel Energy Media Relations
612-215-5300
www.xcelenergy.com
DUBLIN--(BUSINESS WIRE)--The "Automotive Electric Fuel Pumps - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Automotive Electric Fuel Pumps estimated at US$11.9 Billion in the year 2020, is projected to reach a revised size of US$16.8 Billion by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027.
Turbine Style, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$11.3 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Roller Vane segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 18.3% share of the global Automotive Electric Fuel Pumps market.
The U.S. Accounts for Over 19.5% of Global Market Size in 2020, While China is Forecast to Grow at a 6.9% CAGR for the Period of 2020-2027
The Automotive Electric Fuel Pumps market in the U.S. is estimated at US$2.3 Billion in the year 2020. The country currently accounts for a 19.55% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$4.2 Billion in the year 2027 trailing a CAGR of 6.9% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR while Rest of European market (as defined in the study) will reach US$4.2 Billion by the year 2027.
Sliding Vane Segment Corners a 15.6% Share in 2020
In the global Sliding Vane segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.3 Billion by the year 2027, while Latin America will expand at a 4.8% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 56 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/yqh7tw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Florida’s newest Elite Seakeeper dealer brings reputation of excellent service to West Coast of Florida
MIAMI--(BUSINESS WIRE)--Florida Stabilizers, Florida’s newest Elite Seakeeper Dealer and the New Seakeeper Dealer of the Year in 2021, today announced that they have opened two new offices in the Tampa Bay area, one in St. Petersburg and another in Sarasota. These two new offices mark the first expansion of Florida Stabilizer’s service area outside of the Greater Miami area, and give Florida Stabilizers a significant new base of operations to service the growing number of Seakeeper marine stabilizers on the West Coast of Florida.
Seakeeper, Inc. is the global leader in marine stabilization, whose innovative technology changes the boating experience by eliminating up to 95 percent of all boat roll, the rocking motion that causes seasickness, fatigue and anxiety.
“We’re excited to bring our dedicated team of Seakeeper factory-trained and certified technicians to the Tampa Bay area, one of the fastest growing parts of the state and a mecca for boat owners,” said General Manager Ely Gracia. “We believe that our model of responsive, reliable service will translate well to the West Coast of Florida.”
The centrally-located new offices will house a team of mobile technicians and sales representatives who will execute new Seakeeper installations and provide service from Marco Island to New Port Richey. The team will be fully mobile and capable of executing most work onsite where the vessel is moored.
“We look forward to continuing to grow and providing customers with an excellent experience,” says co-owner Marty Martell. “Our passion for boats and experience as boat owners uniquely positions us to understand our customer’s needs, and we’re 100% focused on delivering the best Seakeeper experience in Florida.”
About Florida Stabilizers
Florida Stabilizers is an Elite Seakeeper dealer 100% dedicated to installing and servicing Seakeeper gyroscopic stabilizers in Florida and the Bahamas. Based in Miami, they now have four locations in Florida and provide service from Key West to West Palm Beach on Florida’s East Coast and Marco Island to New Port Richey on the West Coast of Florida.
Ely Gracia
General Manager
(941)404-4637
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Aaron Bridges
Business Development Manager
(941)404-4637
Partnership enables global institutions to leverage tailored cryptocurrency structured product solutions in their investment portfolios and offer such structured product solutions to their clients
CHICAGO--(BUSINESS WIRE)--BlockFills, a fast-growing global digital asset trading and financial technology company, today announced its partnership with TPAC Capital, LLC (“TPAC”) to offer institutions with cryptocurrency structured product solutions. TPAC is the cryptocurrency joint venture of Pack Creek Capital, LLC and Finance Michigan, Inc., both of whom are commodities industry leaders.
BlockFills will be one of the few global digital asset electronic trading firms to offer institutions with tailored cryptocurrency structured product options. In addition, institutions like banks, hedge funds and others in the financial services sector will have the opportunity to offer structured product solutions for their clients through this partnership.
Customized structured product solutions help institutions manage cryptocurrency exposure and develop solutions that assist with risk-return objectives, return enhancement, cost reduction, crypto pricing volatility and cash flow management.
"Institutions have sought increasingly customizable strategies to help maximize their cryptocurrency investments while hedging against or capitalizing on market volatility,” said Nick Hammer, co-founder and CEO of BlockFills. “This structured product solution is our answer for these institutions. Combining TPAC’s 40-plus years of experience tailoring such solutions for volatile commodities with our best-in-class electronic trading technology solutions like Vision and Phoenix, institutions now have more customization and control over their cryptocurrency investment strategies."
“This integration with BlockFills will help shape the future of institutional digital asset and crypto trading,” said Michael Ortiz, Founder of TPAC. “Now, with our customizable structured product solutions available, BlockFills clients can structure the right cryptocurrency investment solution that works for them, combining nonlinear and linear options on a case-by-case basis that will benefit their business and investment strategies.”
Based out of Chicago and founded in 2018, BlockFills is one of the fastest growing crypto liquidity and technology providers globally. Their digital asset technology is already serving over 800 institutional clients across 50 countries.
To reach BlockFills regarding business opportunities, please email This email address is being protected from spambots. You need JavaScript enabled to view it., or for more information, please visit www.blockfills.com.
To learn more about TPAC, email This email address is being protected from spambots. You need JavaScript enabled to view it., or visit www.tpaccapital.com.
About Structured Products
Structured products are a combination of options (puts and calls) combined into a pre-packaged trade. These trades are not offered on “legacy” or decentralized finance (DeFi) exchanges at this time and are considered “over-the-counter” (OTC) in legacy markets. The pre-packaged trade is negotiated between BlockFills and the prospective institutional client.
The primary benefit of structured product solutions is customization. Specifically, these solutions give institutions the ability to define risk parameters by customizing size, timeframe, desired payout and duration of the trade. Structured products also offer an alternative liquidity source.
About BlockFills
BlockFills is a disruptive financial technology firm dedicated to the provision of end-to-end solutions for global crypto currency market participants. The Company has successfully built and deployed a cutting-edge multi-asset technology platform that solves major liquidity fragmentation problems in the marketplace. The platform provides price discovery, price aggregation, electronic order matching, smart order routing and trade reconciliation solutions for institutions in the digital spot, derivatives, and lending markets. In addition, BlockFills provides software-as-a-service (SaaS) solutions that simplify all aspects of the trade lifecycle for institutions in the sector.
About TPAC
TPAC Capital, LLC is a newly formed provisional swaps dealer by Pack Creek Capital and Finance Michigan, Inc. The traders at TPAC are leaders in structured products with extensive careers running some of the largest OTC desks in the commodities markets. TPAC focuses on bringing innovative structures and exotic options to the emerging markets of cryptocurrency starting with Bitcoin and Ethereum. As a dealer, TPAC offers competitive pricing, trades that suit the clients’ risk profile, and educational materials in order for all clients to trade structured products with a strong knowledge base. Please reach out to hear more about the library of cryptocurrency structured products that are ready to offer.
RISK DISCLOSURE AND IMPORTANT INFORMATION
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
All investing is subject to risk, including the possible loss of all of the money invested. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future results.
Media Contact for BlockFills:
Michael Grimm, Reputation Partners
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Media Contact for TPAC:
Taylor Ortiz, TPAC
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SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO) announced today that it will host a conference call on July 28, 2022 at 10:00 a.m. ET to discuss second quarter 2022 earnings results, which will be released earlier that day, and provide an update on company operations.
Persons interested in listening to the conference call may join the webcast on Valero’s Investor Relations website at www.investorvalero.com.
About Valero
We are a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and we sell our products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America. We own 15 petroleum refineries located in the U.S., Canada, and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day (BPD). We are a joint venture member in Diamond Green Diesel Holdings LLC (DGD), which owns a renewable diesel plant in Norco, Louisiana with a production capacity of 700 million gallons per year, and we own 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.6 billion gallons per year. We manage our operations through our Refining, Renewable Diesel, and Ethanol segments. Please visit www.investorvalero.com for more information.
Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
A strong list of investors including TravelCenters of America Inc., Evergy Ventures, and Anzu Partners joined the oversubscribed $12M round
SAN DIEGO--(BUSINESS WIRE)--XENDEE Corporation, a leader in distributed energy resources (DER) planning and operation software, today announced that it has raised $12M in Series A financing to increase the company’s Net-Zero DER and ultra-fast Electric Vehicle (EV) charging platform deployments.
Anzu Partners led the round, with additional financing from TravelCenters of America Inc., (Nasdaq: TA), the nation's largest publicly traded full-service travel center network, Evergy Ventures, the non-regulated investment arm of Evergy, Inc. (NYSE: EVRG), and Surlamer Investments.
“We are pleased to announce new financing from these strategic investors and partners that will help increase XENDEE’s market presence and accelerate the global adoption of alternative energy systems needed to achieve superior business outcomes and net-zero carbon emissions goals,” said Adib Naslé, CEO and Co-Founder of XENDEE. “We look forward to working closely with our new partners to improve the adoption, delivery, and operation of reliable clean energy systems worldwide.”
“At TA, we are strongly committed to sustainability and alternative energy,” said Jon Pertchik, Chief Executive Officer of TravelCenters of America. “The nation needs a viable infrastructure to increase the adoption of sustainable fuels, and TA’s investment in XENDEE reflects our ongoing commitment to this goal. By using an optimized solar-powered microgrid, XENDEE is developing a powerful and publicly accessible electric truck charging source that is ideal for use at travel centers. We believe it could serve as a blue-print for deployment and operation of Net-Zero EV fast charging stations nationwide.”
XENDEE’s platform integrates all stages necessary to achieve bankable distributed energy systems in a more intelligent way that ensures superior business outcomes with unmatched speed and accuracy. It generates sophisticated CFO and engineer-ready reports for DER project decision support, planning, design, resilience, and real-time operation. XENDEE also implements a physically based economic decision support system that couples financial optimization with detailed electrical power system analysis to verify resilience and financial viability before the first cable is laid.
Evergy Ventures Vice President Dennis Odell added, “XENDEE’s transformational software technology unlocks the DER value chain by delivering the sophistication and speed electric utility planners and their customers need to decarbonize and democratize access to clean, reliable energy.”
XENDEE serves government and private entities who share its mission for a cleaner, and more energy-efficient planet. As the rate of severe climate disasters has increased, the company has taken on several projects to help develop and implement environmentally and financially sustainable zero-carbon DER systems in geographies most prone to climate disasters, such as Puerto Rico, where in partnership with Idaho National Labs, the company is helping to create a zero-carbon microgrid in the mountain region. XENDEE also earned the prestigious Edison Gold Award in 2021 in the human critical infrastructure category for the potential of its technology to transform how the world transitions towards resilient and carbon-free alternative energy systems.
XENDEE also announced that Whitney Haring-Smith, managing partner at Anzu Partners will be joining its Board of Directors.
To learn more about XENDEE, please visit https://xendee.com/.
About XENDEE
XENDEE brings unparalleled speed and sophistication for project decision support, planning, design, resilience, and real-time operation. We serve government and private entities who share our mission for a cleaner planet, and for our contributions we received the 2021 Edison Gold Award for Critical Human Infrastructure. To learn more about how we can help you rapidly generate and compare complete bankable solutions with confidence and identify the best opportunities for you to meet your scope 1 & 2 emissions goals, and Net-Zero commitments, visit www.xendee.com or request a demo here.
Warning Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon TA’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond TA’s control. For example, the type of information TA receives, or TA’s use of such information, may not improve TA’s operations or financial performance. Investors are cautioned not to place undue reliance upon any forward-looking statements. Except as required by law, TA does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
Press
Jay Gadbois | This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Riverbend Energy Group (“Riverbend”), on behalf of certain of its affiliates, announced today the execution of a definitive agreement with a private buyer for the sale of all of the equity interests in Riverbend Oil & Gas VI, LLC, Riverbend Oil & Gas VI-B, LLC and Riverbend Oil & Gas VIII, LLC, for total consideration of $1.8 billion. The transaction is subject to customary terms and conditions and is expected to close in the third quarter of 2022, with an effective date of May 1, 2022.
The divested portfolios represent a substantial, diversified asset base of non-operated interests across the Bakken/Three Forks, Utica, Fayetteville and Haynesville. As of the effective date, these properties produced approximately 47,000 barrels of oil equivalent per day from over 11,000 wells.
Of Riverbend’s five (5) currently active traditional energy portfolios, this transaction represents a successful and complete monetization for Riverbend of three (3) portfolios, Riverbend VI, VI-B and VIII.
“Today marks another major milestone for Riverbend and our institutional investors, representing the culmination of nearly six years of diligent acquisition and asset management efforts since the launch of specific traditional energy business plans in delineated and de-risked liquids rich as well as dry gas basins,” said Randy Newcomer, Jr., Riverbend’s CEO. “These core assets, in top-tier North American horizontally exploited producing areas, were assembled through an extremely prudent acquisition approach across nearly 100 discrete transactions in the midst of volatile commodity price and commercial environments. Since the building of these specific business plans and growing/managing these assets, all of the disciplines of the Riverbend team produced diligent, courageous and exemplary efforts to ultimately effectuate this transaction. We are additionally thankful to our equity investors and bank syndicate partners, both groups representing a significant backbone to the Riverbend franchise.”
Barclays served as financial advisor to Riverbend in connection with the transaction and Kirkland & Ellis served as legal advisor.
About Riverbend Energy Group
Riverbend Energy Group, based in Houston, Texas, is a multi-faceted investment firm, utilizing risk-weighted deal evaluation processes to deploy capital into a variety of investment theses in the U.S. energy sector. As a trusted name in the energy investment space, Riverbend’s portfolios have included, and continue to include, operated, non-operated, and mineral and royalty assets in traditional energy, as well as investments in the energy transition sector. Since 2003, Riverbend has successfully acquired, developed, and managed over $5 billion of total enterprise value across ten asset portfolios and continues to aggressively pursue opportunities in the energy marketplace. For more information, visit riverbendenergygroup.com.
Thomas Galloway, Riverbend Energy Group
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AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced its participation in the following investor conferences:
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Hyliion Holdings Corp.
Ryann Malone
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(833) 495-4466
Sharon Merrill Associates, Inc.
Nicholas Manganaro
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KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Hong Seng Consolidated Berhad (“Hong Seng” or “the Group”) announced today that it has entered into a Memorandum of Understanding (“MoU”) with EoCell Inc. (“EoCell”) to develop a regional manufacturing hub in Malaysia, to manufacture batteries for Electric Vehicles (EV) and progress to energy storage solutions (“ESS”) which will eventually be supplied to EV manufacturers, assemblers and users in the Southeast Asian region (“Project”).
EoCell, based in Silicon Valley, California, is a research and technology company specializing in the design and development of high-energy nano-silicon anode materials and non-flammable electron technologies for advanced silicon and solid-state batteries. EoCell holds a number of patents in battery technology in the United States, is currently in a collaboration arrangement with Morrow Batteries AS in Norway, and in discussions with a number of tier-1 OEM suppliers to the EV industry and other global battery manufacturers.
On the potential tie-up with EoCell, Hong Seng Group Managing Director Dato’ Seri Teoh Hai Hin said: “EoCell is a next generation battery technology company with a world-class team of battery experts. EoCell engineers have been key contributors to design and manufacturing of PHEV and EV batteries for prestigious brands such as BMW, VW, Audi, Porsche, and Daimler. They are truly pioneers in the electrification movement, and we look forward to working with them to design and develop world-class EV batteries to be produced in our factory. As the world enters into the electrification revolution era, the Group has determined that the MoU is expected to provide a timely opportunity to venture into the EV battery and ESS sector. The global energy storage market has a very bright outlook, with a valuation of USD10.37 billion in 2020 and forecasted to reach USD37.06 billion by 2027. This translates into a CAGR of 19.9% between 2022 and 2027, and the batteries segment is expected to account for the largest share in the energy storage market.”
Dato’ Michael Loh, Chief Executive Officer of EoCell said: “We believe Hong Seng is poised to become one of Southeast Asia’s leading battery producers with a focus on sustainable production facilities powered with clean green energy. We are excited to partner with them to develop their first generation best-in-class battery for the EV market and look forward to collaborating on additional projects with them in the future. The Southeast Asian electrification movement is underway, and Hong Seng has a great strategy to fulfill this upcoming demand. We are excited to enter the Southeast Asian market and participate with Hong Seng’s and Malaysia’s clean energy initiatives.”
According to the MoU signed today, the parties have identified Malaysia as a suitable location to scale up the EV battery and ESS sector to serve the Southeast Asian region. The MoU contemplates that Hong Seng’s main duties will include assisting to identify and propose suitable locations for the Project’s site, propose suitable consultants to undertake the necessary studies and liaise with the Malaysian government to obtain incentives and necessary authorisations. Meanwhile, EoCell is expected to provide licenses of battery and manufacturing technology for EV batteries, relevant industry and technology knowledge in relation to the implementation of the Project, and expertise in battery production line design and installation. The MoU is non-binding statement of the parties’ current intentions. Over the next 90 days, subject to the negotiation of a mutually acceptable definitive agreement, the parties intend to enter into a joint venture agreement and set up a new joint venture company.
“The Malaysian Government has earmarked clean energy and electric vehicle industries as one of the growth sectors for the country, and as the nation is striving for a greener world and decarbonization by replacing combustion engine vehicles with Electric Vehicles, the demand for battery will experience an exponential growth.
We are confident that the vision to develop Malaysia into the central of battery technology and manufacturing for Southeast Asia will materialise with the Malaysian government’s strong support, the country’s strategic location in the centre of Southeast Asia, and Malaysia’s neutral political position which will be able to encourage bilateral trades among the countries involved,” added Teoh.
About EoCell, Inc.
Founded in 2015 and based in Silicon Valley’s San Jose, EoCell specializes in high-energy nano-silicon anode materials, innovative electrolyte technologies, and advanced graphite, silicon, and solid-state batteries. EoCell has developed an expert battery team from world-wide battery manufacturers with prior high-scale commercialization experience working with tier-1 automotive OEMs.
EoCell, Inc.
Patrick Gray, This email address is being protected from spambots. You need JavaScript enabled to view it.
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