$92 million secured in financing and tax equity funding
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy, LLC (Leeward) today announced the company has successfully completed the full-scale repower of its Crescent Ridge Wind Project (“Crescent Ridge”) located in Tiskilwa, Illinois.
The 54.4 megawatt (MW) Crescent Ridge repower included decommissioning nine turbines, repowering 24 legacy turbines and constructing four new turbines. The upgrades utilize the latest Vestas technology, enhancing turbine capacity, reliability and performance, while reducing operating costs.
Wells Fargo served as coordination lead arranger, administrative agent, and collateral agent on the $92 million financing for the project, including a construction plus a five-year term loan, tax equity bridge loan, and a letter of credit facility, along with a commitment to provide tax equity. Concurrently with the completion of construction, the construction loan converted to a five-year term loan, and the tax equity bridge loan was discharged with proceeds from the funding of Wells Fargo’s tax equity commitment. Santander Bank, N.A. served as joint lead arranger.
The project will help Amazon meet its Climate Pledge commitment to reach net-zero carbon by 2040 and get one step closer to powering its operations with 100% renewable energy by 2025, 5 years ahead of the original 2030 target.
“We are pleased that our Crescent Ridge project is operational and are proud to have provided jobs and other economic benefits to the Tiskilwa community throughout the construction and repower process,” said Leeward VP of Project Management and Construction, Sam Mangrum. “I would like to thank the local landowners for their support and look forward to continue working closely with them in the years to come.”
“This project gave Leeward the opportunity to work with multiple new and existing partners,” added Chris Loehr, Chief Financial Officer at Leeward. “We were thrilled to continue our strong relationship with Wells Fargo and Santander in financing the construction and ongoing operations. The respective commitments made by these established companies demonstrates their confidence in our technology and team to deliver clean, reliable energy.”
About Leeward Renewable Energy
Leeward Renewable Energy, LLC is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$114 billion in net assets (as at June 30, 2021). For more information, visit www.leewardenergy.com.
Kelly Kimberly
Sard Verbinnen & Co.
713.822.7538
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EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary fourth quarter 2021 earnings results after the market close on Wednesday, February 2, 2022, followed by a conference call at 10:00 a.m. CT on Thursday, February 3, 2022. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.
Source: Murphy USA Inc. (NYSE: MUSA)
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Investor Relations Analyst
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Deal represents Generate’s debut transaction in Latin America as the sustainable infrastructure company grows its global footprint
LONDRINA, Brazil & SAN FRANCISCO--(BUSINESS WIRE)--Conasa Infraestrutura S.A., an owner and operator of concessions in water, wastewater sanitation, highway and public lighting across Brazil, today announced that it has closed a transaction raising significant equity capital from Generate Capital, a leading sustainable infrastructure company which owns and operates more than 2,000 assets across North America.
The transaction will provide Conasa with additional growth capital to accelerate the deployment of essential public services and sustainable infrastructure resources across Brazil. Conasa’s projects today serve 1,395,000 inhabitants in water and sanitation, operating 1.520 km (944 miles) of toll roads and 283,000 public lighting points, reaching 3.3 million inhabitants. Conasa has issued $R 403 million ($71.4 million) of new shares to Generate as part of the deal, and Generate will co-control the company with the founders.
“We’re happy to announce this transaction and partner with a leader in sustainable infrastructure like Generate,” said Mario Vieira Marcondes Neto, chief executive officer of Conasa. “Generate shares our vision of developing infrastructure that meets the needs of our customers, communities and the country, and will be a valued partner as we continue our rapid growth with responsible and sustainable projects across Brazil.”
Since its founding in 2007, Conasa has grown principally in the sanitation sector where Brazil requires $R 753 billion ($132 billion) of investment by 2033 to reach the country’s universal sanitation services goals across its population. Conasa is also growing its operations in infrastructure around energy, toll roads and lighting assets across Brazil, offering improvements that increase equitable access to resources. The company has more than 550 employees that provide operations and maintenance support for its assets. Conasa received the required approvals from its board, bondholders and shareholders to complete the transaction.
For Generate, the transaction represents an expansion of its portfolio of more than $2 billion in sustainable infrastructure assets in the Americas into the Brazilian private infrastructure market.
“Generate is excited about Conasa’s substantial growth in Brazil and the opportunity to partner with a proven infrastructure leader,” said David Perl, managing director at Generate. “This investment aligns with Generate’s vision of working across sectors and geographies to rebuild the world and enable broad participation in the benefits of the infrastructure transition. We look forward to partnering with the team at Conasa to continue building affordable, reliable and sustainable infrastructure across South America’s largest market.”
Generate builds, owns, operates and finances sustainable infrastructure that delivers affordable and reliable resource solutions for companies, governments and communities across North America. Since 2014, Generate has partnered with more than 40 leading technology and project developers to build assets across the energy, waste, water and transport markets. Generate serves the critical needs of over 2,000 customers, including companies, universities, school districts, cities and non-profits. The company announced last year that it had raised $2 billion from global institutional investors to expand its operations.
About Conasa
Conasa Infraestrutura, S.A. is an infrastructure holding company, focused on long term concessions, currently working in the sectors of sanitation, toll roads and lighting, especially for mid-sized concessions in Brazil. In sanitation, Conasa serves 1,395,000 inhabitants across 37 municipalities where it has substantially increased sewage treatment coverage where it was previously unavailable. Conasa manages 1.520 km (944 miles) of toll roads and manages 283,000 public lighting points for 3.3 million inhabitants in Brazil. For more information, please visit www.conasa.com
About Generate
Generate Capital, PBC is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates and finances solutions for clean energy, water, waste and transportation. Founded in 2014, Generate partners with over 40 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to over 2,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.
For Conasa
Cláudio Ramos
+55 43 3025 3636
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For Generate
Emily Chasan
(415) 480-2914
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WASHINGTON--(BUSINESS WIRE)--The world’s two largest economies—the United States and Mainland China—are poised to be the world’s top export and import markets for liquefied natural gas (LNG) in 2022, says a new report by IHS Markit, (NYSE: INFO), a world leader in critical information, analytics and solutions.
The report, entitled LNG Trade in 2021: Runaway Recovery finds that the United States, which was the third-largest LNG exporter behind Australia and Qatar for the full year of 2021, is poised to claim the top spot in 2022. The United States was the largest source of LNG supply growth in 2021, adding 25 million metric tons (MMt) amid continued buildup of liquefaction capacity as well as the ramping up of output from plants turned down the previous year. Average utilization for U.S. plants climbed from 43% in third quarter 2020 to 98% in third quarter 2021.
Meanwhile, Mainland China has already become the top global importer of LNG. Imports reached 81 MMt in 2021 (increase of 12.3 MMt or 18%), overtaking Japan where imports were flat year-over-year at 75 MMt. This marks the first time since the early 1970s that Japan has not been the world’s largest LNG importer.
“A new map of LNG is taking shape as 2021 became the year of rapid recovery, making the oversupply and price lows of 2020 seem like a distant memory,” said Michael Stoppard, chief strategist, global gas, IHS Markit. “It is a tale of two markets with China fueling the demand surge as the world’s top importer and the United States, poised to become the world’s leading exporter, providing the supply push.”
Among other key LNG trends observed in the report:
Additional Reference: IHS Markit’s headline 2021 LNG trade numbers
Total loaded LNG supply in 2021 reached 396.3 MMt, up 5.5% or 20.5 MMt relative to 2020. The largest LNG supplier in 2021 was Australia at 83.0 MMt (1% increase or 0.6 MMt), followed by Qatar at 81.3 MMt (2.0% increase or 1.6 MMt). The United States provided the largest supply growth with 25.3 MMt of additional LNG (52% increase), reaching 73.6 MMt.
Net delivered LNG trade* reached 381.9 MMt, up 5.8% or 21.0 MMt from prior year. The largest growth came from mainland China, propelling it to become the world’s largest LNG importer with 81.4 MMt (17.8% increase or 12.3 MMt). Japan fell to second place at 75.0 MMt (0.2% increase or 0.2 MMt), followed by South Korea at 46.4 MMt (13.6% increase or 5.6 MMt). The third largest growth in 2021 came from Brazil, which climbed by 5.1 MMt (210% increase) to reach 7.5 MMt.
For more information about the report LNG Trade in 2021: Runaway Recovery or about IHS Markit LNG research services visit https://ihsmarkit.com/products/LNG-market-outlook-demand-forecast.html
* Excluding re-exported cargoes and boil-off.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2022 IHS Markit Ltd. All rights reserved.
News Media:
Jeff Marn
IHS Markit
+1 202 463 8213
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Press Team
+1 303 858 6417
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Modern Energy and Industrial Sun join forces to scale solar for C&I customers
DURHAM, N.C. & AUSTIN, Texas--(BUSINESS WIRE)--#ENERGYTRANSITION--Modern Energy announced today an investment of $30 million into the launch and multi-year deployment of Industrial Sun, an Austin-based utility-scale solar developer.
Industrial Sun founders Dan Seif and Wade Gungoll bring decades of experience in the energy industry, and collectively the senior team at Industrial Sun has successfully executed multiple gigawatts of project development, power sales, and financings for large-scale power projects. Industrial Sun is focused on providing power projects that create dramatic cost savings for large energy-using facilities.
“Modern’s experience developing, aggregating, and marketing assets across multiple technologies and regulatory regimes, along with their track record for building novel development platforms from inception to scale, was important to us in looking for a partner,” said Dan Seif. “Modern understands the challenges associated with development. We are confident their world-class operations team will contribute to our success in this competitive environment.”
“This partnership is based on a shared cultural alignment and a long-term orientation, which we believe are necessary to achieve a significant impact on the energy transition,” said Jazib Hasan of Modern Energy. “Today, many developers find themselves with a large and eager universe of buyers ready to purchase and operate portfolios but limited capital to help them build their operation. We act as a bridge between early-stage and operational assets.”
The Modern Energy team leverages deep functional expertise to support the rapid growth and effective market deployment of its portfolio companies. Industrial Sun is already thoroughly engaged in project development activities, including contracting optimal locations for assets, securing necessary permits, de-risking projects through engineering studies, navigating the interconnection process, and securing power offtake agreements. Modern provides Industrial Sun with world-class commercial, operational, and capital markets support, as it does with its other portfolio development companies.
Kirk Bedell and Jazib Hasan led the transaction for Modern Energy. Before joining Modern, Bedell spent a decade building clean energy development businesses across the United States — most recently, he established and led the distributed generation development business at Brookfield Asset Management and formerly built and led commercial strategy for General Electric’s distributed solar development business, which Blackrock acquired in 2019.
Before Modern, Hasan raised and invested capital in energy, infrastructure, renewables, and commodities — most recently at Citibank as its Head of Commodities Structured Finance and Credit Solutions. Prior to that, Hasan held similar executive roles at Bank of America Merrill Lynch, Shell Energy North America and Deutsche Bank.
About Modern Energy
Modern Energy® is a clean energy company that invests in, builds and operates energy transition businesses to help the world reach a net-zero carbon economy. Modern’s portfolio includes fully-owned businesses delivering distributed energy solutions to customers and markets in the United States and Brazil. The firm has offices in Durham, NC, Austin, TX, and Sao Paulo, Brazil. As a certified B-Corp, Modern’s mission is affordable, reliable, sustainable energy for all. For more information, visit www.modern.energy.
About Industrial Sun
Industrial Sun is a renewable energy and storage developer, purpose-built to serve industrial and high energy demand customers, including refineries, pumping and compression stations, manufacturing and/or processing plants, terminals, and data centers. Our development team works with project landowners and surrounding communities to responsibly develop power projects that support the success of local communities for generations to come. Industrial Sun’s senior team shares more than 70 years of collective renewable energy experience and gigawatts of power project development, power sale, and financing experience. For more information, visit www.industrialsun.com.
Lauren Scolnic
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(919) 590-0327
Carolina Power Partners, LLC delivers reliable, low-cost energy to Appalachian State University’s New River Light & Power
BOONE, N.C.--(BUSINESS WIRE)--The new year marked a change in electric service providers for Appalachian State University’s electric utility, New River Light and Power (NRLP). Carolina Power Partners (CPP), the leading independent wholesale electric provider in the Carolinas, began delivering reliable, low-cost power to NRLP on January 1, 2022.
The university-owned electric utility is one of 12 utilities in the Carolinas to enter into a long-term power purchase agreement (PPA) with CPP. In each case, the communities opted to enter into an agreement with CPP because of its proven reliability, significant price savings and low emissions profile. CPP has long-term PPAs with three cities in South Carolina and nine in North Carolina.
“We are extremely proud to start our full requirement energy service for Appalachian State University,” said TJ Higgins, CPP’s Asset Manager. “We welcome them to the CPP family and are happy to deliver low-cost, clean and reliable energy to the university and NRLP’s 9,000 residential and commercial customers in the Boone community. We look forward to more communities throughout the Carolinas obtaining these same advantages.”
In 2021, App State Chancellor Sheri Everts announced that with the new NRLP purchase agreement with CPP, it will purchase hydroelectric power to increase its renewable energy purchase portfolio from just under 2% to 15%. The contract with CPP will also allow the university and NRLP to continue exploring additional renewable energy sources.
“It is important that NRLP provides safe and reliable utilities to our customers at affordable and competitive rates,” said Ed Miller, NRLP’s General Manager. “CPP is a Carolina-based company that owns one of the most efficient, state-of-the-art power generating facilities and has demonstrated success in other similar communities. After an extensive review by our team and advisors, we believe this new energy contract with CPP will help us continue to meet our core objectives, while also providing increased accessibility to renewable energy opportunities.”
CPP provides much of its energy to App State and New River through the Kings Mountain Energy Center, a 475-MW combined-cycle power plant capable of efficiently providing energy to approximately 400,000 homes. Asset management services for the facility are provided by Consolidated Asset Management Services.
About Carolina Power Partners
Carolina Power Partners provides reliable electricity to local towns, cities, and universities in North and South Carolina. Strategically located in the fast-growing southeastern region of the United States, CPP is positioned to provide energy to local communities to help them achieve their economic and environmental needs.
About Appalachian State University and New River Light & Power
For more than 100 years, Appalachian State University’s nonprofit electric utility NRLP has provided power to Western North Carolina. Today, NRLP serves nearly 9,000 residential and commercial customers in and around the Town of Boone. In partnership with App State’s Office of Sustainability, Facilities Operations department and the university’s student-led, student-funded Renewable Energy Initiative organization, NRLP has assisted with numerous energy efficiency projects across App State’s campus and supported renewable energy projects including installing solar panels and providing funding for the Broyhill Wind Turbine. The utility holds the American Public Power Association’s highest Reliable Public Power Provider (RP3) designation for providing reliable and safe electric service, and approximately $650,000 of its budget is reserved annually for contributions to Appalachian’s general scholarship fund.
TJ Higgins, CPP Asset Manager
This email address is being protected from spambots. You need JavaScript enabled to view it. | 919-747-5056
Carolina Power Partners, LLC is the new service provider to deliver reliable, low-cost energy to Western Carolina University’s electric utility provider, Western Carolina Power.
CULLOWHEE, N.C.--(BUSINESS WIRE)--#energy--The new year marked a change in electric service providers for Western Carolina University’s electric utility provider, Western Carolina Power (WCP). Carolina Power Partners (CPP), the leading independent wholesale electric provider in the Carolinas, began delivering reliable, low-cost power to WCP on January 1, 2022.
WCP is one of 12 utility providers in the Carolinas to enter into a long-term power purchase agreement (PPA) with CPP. In each case, the utility providers opted to end long-term relationships with their previous power supplier in favor of an agreement with CPP because of its significant price savings. CPP has long-term PPAs with three utility providers in South Carolina and nine in North Carolina.
“We are extremely proud to start our full requirement energy service for Western Carolina Power,” said TJ Higgins, CPP’s Asset Manager. “We welcome them to the CPP family and are happy to deliver low-cost, clean and reliable energy to the WCP community. We look forward to more communities throughout the Carolinas obtaining these same advantages.
“As an established utility provider and community partner, Western Carolina Power’s mission is to provide safe and reliable utilities to our customers at affordable and competitive rates,” said Joe Walker, WCP representative. “After an extensive review by our team and utility advisor, CPP helps us meet this objective and has proven success with other similar providers.”
CPP provides much of its energy to WCP through the Kings Mountain Energy Center, a 475-MW combined-cycle power plant capable of efficiently providing clean energy to approximately 400,000 homes. Asset management services for the facility are provided by Consolidated Asset Management Services (www.camstex.com).
About Carolina Power Partners
Carolina Power Partners provides reliable electricity to local towns, cities and universities in North and South Carolina. Strategically located in the fast-growing southeastern region of the United States, CPP is positioned to provide energy to local communities to help them achieve their economic and environmental needs. For more information visit www.carolinapowerpartners.com.
About Western Carolina Power
Through Western Carolina University (WCU), Western Carolina Power (WCP) is responsible for providing electric power and service to approximately 3,800 customers in the community surrounding the WCU campus located in Jackson County, N.C. WCP maintains both overhead and underground electric infrastructure. As a public provider, the WCP strives to keep rates as low as possible.
TJ Higgins, CPP Asset Manager
This email address is being protected from spambots. You need JavaScript enabled to view it. | 919-747-5056
HOUSTON--(BUSINESS WIRE)--EnVen Energy Corporation announced today its execution of a drilling contract with a subsidiary of Transocean Inc. for the use of the Transocean Discoverer Inspiration, an ultra-deepwater drillship. EnVen has committed to one firm well with options for two additional wells and expects to take delivery of the drillship early in the third quarter of 2022.
“We are excited to again work with Transocean on the Discoverer Inspiration as we continue our infrastructure-led exploration program, consistent with our proactive and disciplined strategy to develop our deepwater portfolio. We have several robust prospects to drill that provide tremendous growth potential,” said Steve Weyel, EnVen’s Chairman and Chief Executive Officer.
About EnVen
EnVen is an independent oil and natural gas company engaged in the development, exploitation, exploration and acquisition of primarily oil properties in the deepwater region of the U.S. Gulf of Mexico.
Forward-looking Statements
This release contains forward-looking statements. When used in this release, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and 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 EnVen’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, EnVen disclaims any duty to update any forward-looking statements, all of which are expressly qualified by this statement, to reflect events or circumstances after the date of this release.
Investor Contact:
EnVen Energy Corporation
609 Main Street, Suite 3200
Houston, Texas 77002
713-335-7335
Media Relations Contact:
Linda Madden
Pierpont Communications
713-410-2869
TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX: SPB):
January 2022 Cash Dividend - $0.06 per share
Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of January 2022 of $0.06 per share payable on February 15, 2022. The record date is January 31, 2022 and the ex-dividend date will be January 28, 2022. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.
A summary of Superior’s dividends paid for the year 2021 is detailed below. These dividends are considered to be an eligible dividend for Canadian income tax purposes.
Record Date |
Payment Date |
Dividend |
||||||
November 30, 2021 |
December 15, 2021 |
$0.06 |
||||||
October 31, 2021 |
November 15, 2021 |
$0.06 |
||||||
September 30, 2021 |
October 15, 2021 |
$0.06 |
||||||
August 31, 2021 |
September 15, 2021 |
$0.06 |
||||||
July 31, 2021 |
August 13, 2021 |
$0.06 |
||||||
June 30, 2021 |
July 15, 2021 |
$0.06 |
||||||
May 31, 2021 |
June 15, 2021 |
$0.06 |
||||||
April 30, 2021 |
May 14, 2021 |
$0.06 |
||||||
March 31, 2021 |
April 15, 2021 |
$0.06 |
||||||
February 28, 2021 |
March 15, 2021 |
$0.06 |
||||||
January 31, 2021 |
February 12, 2021 |
$0.06 |
||||||
December 31, 2020 |
January 15, 2021 |
$0.06 |
||||||
|
2021 Total |
$0.72 |
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2020, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)
HWASEONG, South Korea--(BUSINESS WIRE)--#AdvancedMaterial--ThermVac Inc., a developer of vacuum furnaces based in Korea, continues to develop a variety of ultra-high temperature furnaces that can be optimally applied to diverse types of materials, which are to be fired in the range of 2,500°C or higher ultra-high temperature. This is particularly relevant for high-quality graphite materials of which global demand is rapidly increasing in secondary battery, electric vehicle and photovoltaic industries.
With regard to graphitization treatment, as the competition to advance material properties becomes intense and the firing process requires a higher temperature than the current operation of 2,700~2,800°C, ThermVac has recently developed a resistance heating type of ultra-high temperature vacuum furnace which can stably operate under 3,000°C mass production process. They supplied it to company T, a carbon catalyst manufacturer. In case of over 2,800°C, the furnaces have conventionally been manufactured using the induction-heating method because resistance-heating type carbon heater is extremely consumed. In this case, however, the cost of the induction power device is excessive and the temperature in the hot zone is not uniform. This time, ThermVac has succeeded in lowering the temperature of the carbon heater as much as possible, securing the standard for a 3,000°C resistance-heating furnace that can stably maintain the life of the heater.
Meanwhile, ThermVac developed a two-chamber type graphitization furnace where the heating and cooling chambers are separated, and has tested the graphitization process for more than two years, securing the durability and stability of the equipment through complementary work. The commercialization model of the two-chamber graphitization furnace will be launched in the first half of 2022. This two-chamber furnace heats a product while maintaining the hot zone at 800°C to 2,400°C at all times, and then transfers it to the cooling chamber for rapid cooling. Thereby, the process cycle, which previously took 2 to 3 days, can be shortened to less than one day, and electricity consumption can be reduced to 60% or less.
In addition, with respect to carbon purification treatment, ThermVac is diversifying the types of furnaces into horizontal and vertical types. It is also developing related purification processes along with equipment types to be suitable for various graphite products such as graphite fibers and felts as well as bulk materials.
ThermVac
Inseok Choi
+82-10-2735-4944
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DUBLIN--(BUSINESS WIRE)--The "Fiber Optic Sensor Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application (Temperature Sensing, Pressure Sensing, Acoustic Sensing, Strain Sensing, and Others) and Vertical (Oil & Gas, Manufacturing, Infrastructure, Power and Utilities, and Others)" report has been added to ResearchAndMarkets.com's offering.
The fiber optic sensor market is projected to reach US$ 5,506.24 million by 2028 from US$ 2,980.47 million in 2021; it is estimated to register a CAGR of 9.16% during 2021-2028.
Companies Mentioned
Factors such as surging applications in the oil & gas sector and growing demand in the automotive sector are fueling the fiber optic sensor market growth. Moreover, the growing development of smart cities is providing lucrative opportunities for the future growth of the market players. However, the difficulties associated with the installation of fiber optic sensors are restraining the market growth.
The fiber optic sensor market is segmented into application, vertical and geography. Based on application, the fiber optic sensor market is segmented into temperature sensing, pressure sensing, acoustic sensing, strain sensing, and others. The temperature sensing segment held the largest market share in 2020. Based on vertical, the fiber optic sensor market is segmented into oil & gas, manufacturing, infrastructure, power and utilities, and others. The oil & gas segment held the largest share in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America dominated the fiber optic sensor market.
According to Electronic Components Industry Association (ECIA), the outbreak of COVID-19 resulted in a delay in product releases and disruption in supply chain events and other industry activities. Several manufacturers have temporarily halted the manufacturing units due to lesser demand for the products due to lockdown measures and limited manufacturing resources. Additionally, the manufacturers of various electronic and semiconductor products, including sensors, have been experiencing a substantial delay in lead times. During the first quarter of 2020, numerous Chinese manufacturers had temporarily shut down their manufacturing facilities, thereby showing a decline in supply and demand for electronics and semiconductor products worldwide. These factors have negatively impacted the fiber optic sensor market.
Reasons to Buy
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Fiber Optic Sensor Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Fiber Optic Sensor Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Applications in Oil & Gas Sector
5.1.2 Escalating Demand in Automotive Sector
5.2 Market Restraints
5.2.1 Difficulties in Installation of Fiber Optic Sensors
5.3 Market Opportunities
5.3.1 Development of Smart Cities
5.4 Future Trends
5.4.1 Ongoing Technological Developments in Fiber Optic Sensors
5.5 Impact Analysis of Drivers and Restraints
6. Fiber Optic Sensor Market - Global Analysis
6.1 Fiber Optic Sensor Market Global Overview
6.2 Fiber Optic Sensor Market - Global Revenue and Forecast to 2028 (US$ million)
6.3 Market Positioning - Five Key Players
7. Fiber Optic Sensor Market Analysis - By Application
8. Fiber Optic Sensor Market Analysis - By Vertical
9. Fiber Optic Sensor Market - Geographic Analysis
10. Fiber Optic Sensor Market - COVID-19 Impact Analysis
10.1 Overview
10.1 Impact of COVID-19 Pandemic on Global Fiber Optic Sensor Market
10.1.1 North America: Impact Assessment of COVID-19 Pandemic
10.1.2 Europe: Impact Assessment of COVID-19 Pandemic
10.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.1.5 South America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/di1nt3
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Laura Wood, Senior Press Manager
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Rouzbeh Fazlinejad Joins as a Managing Director to Lead Oil and Gas Coverage
DUBAI, United Arab Emirates--(BUSINESS WIRE)--Houlihan Lokey (NYSE:HLI), the global investment bank, announced today the expansion of its global Oil & Gas team into the Middle East with the appointment of Rouzbeh Fazlinejad as a Managing Director, based in Dubai. This appointment also marks the launch of the firm’s first industry group in the Middle East.
Mr. Fazlinejad joins the firm having held senior positions at both Berenberg and TD Securities. Most recently, he spent three years as Head of M&A at Berenberg, where he led the establishment of its international M&A franchise and also headed the firm’s relationships in the global energy and infrastructure industry. Prior to this, he spent 12 years at TD Securities, ultimately becoming Head of European Energy, advising clients on both M&A and capital markets assignments.
“Having expanded our Oil & Gas team into Europe earlier this year, we are now delighted to be launching our dedicated coverage team in the Middle East with Rouzbeh’s appointment,” said J.P. Hanson, Head of Houlihan Lokey’s global Oil & Gas Group. “He brings significant experience and deep industry knowledge as a trusted advisor to clients across the energy spectrum, including supermajors, NOCs, and independents as well as mid-cap energy and infrastructure companies in EMEA. His focus on achieving superior results for his clients makes him an ideal cultural fit for Houlihan Lokey.”
Arun Reddy, Managing Director and Head of Middle East and Africa at Houlihan Lokey, commented: “We are pleased with the progress that our Middle East business has made since we established our office here in 2017, advising on some of the largest and most complex transactions. We are excited to be expanding our client offering in the region and plan to add more expertise to our local team in due course to provide clients with the full suite of advisory services offered across Houlihan Lokey’s global network.”
Mr. Fazlinejad holds a BsC in Finance, Investment and Risk from Cass Business School and Emory University.
With more than 70 industry-dedicated professionals in seven offices around the world, Houlihan Lokey’s global Oil & Gas Group provides superior service and achieves outstanding results for its clients in M&A, A&D, capital markets, capital formation, corporate finance, and recapitalizations throughout the upstream, midstream, and downstream sectors of the oil and gas sector. The group has advised on more than 100 transactions over the past three years across every key global region.
About Houlihan Lokey
Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. Houlihan Lokey is the No. 1 M&A advisor for the past six consecutive years in the U.S., the No. 1 global restructuring advisor for the past seven consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv.
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DENVER--(BUSINESS WIRE)--CoreSite, the leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced new senior leadership appointments effective immediately. This new executive management structure is designed to position the company for accelerated growth, while continuing to provide the native digital supply chain its valued enterprise, network, cloud and service integrator customers have come to depend on.
CoreSite is now led by Juan Font, President of CoreSite and SVP of American Tower, reporting to Steve Vondran, Executive Vice President and President, U.S. Tower Division of American Tower (“U.S. Tower”). Font is responsible for leading CoreSite’s strategy, innovation and growth while delivering value to the customers, partners, shareholders, and communities where CoreSite and American Tower operate. He has held positions of increasing responsibility within the organization since 2010 and brings more than 20 years of experience in general management, direct sales, business operations and finance in the data center and telecommunications industries. Font will operate CoreSite as a standalone entity within U.S. Tower.
“In the short time that I’ve gotten to know Juan, I’ve been impressed by his passion for the CoreSite team and business, as well as the depth and breadth of his experience. I am very excited about the future of CoreSite as part of American Tower and look forward to working with Juan, and his newly appointed senior leadership team, to build on CoreSite’s impressive track record”, stated Vondran.
CoreSite’s recently appointed senior leadership team is comprised of:
Adam Post and Mark Jones are new to the leadership team and will take on leadership oversight for several functions including acquisitions, investor relations, procurement, and internal audit.
Janae Walker is currently a member of the American Tower legal team and joins CoreSite’s senior leadership team with overall responsibility for the CoreSite legal function. She served as the lead attorney on the CoreSite transaction and brings experience with American Tower to the CoreSite team.
Matt Gleason is newly appointed to the leadership team and is responsible for the general management function as well as providing oversight for sales engineering and capacity inventory management functions.
Maile Kaiser broadens her responsibility on the leadership team with oversight of marketing, sales operations, and the solutions architects in addition to maintaining responsibility for the CoreSite sales organization.
“I am proud to lead CoreSite, and my newly appointed leadership team, into our exciting next chapter. The acquisition of CoreSite by American Tower enables us to create a differentiated, comprehensive, and interconnected communications real estate platform optimally positioned to benefit from the convergence of wireline and wireless networks amid accelerating global 5G deployments. This will allow us to continue to deliver on our commitment to future-proof our customers’ digital transformation strategies now – and well into the future,” stated Font.
Other Highlights
About CoreSite
CoreSite Realty Corporation, an American Tower company (NYSE: AMT), provides hybrid IT solutions that empower enterprises, cloud, network, and IT service providers to monetize and future-proof their digital business. Our highly interconnected data center campuses offer a native digital supply chain featuring direct cloud onramps to enable our customers to build customized hybrid IT infrastructure and accelerate digital transformation. For more than 20 years, CoreSite’s team of technical experts have partnered with customers to optimize operations, elevate customer experience, dynamically scale, and leverage data to gain competitive edge. For more information, visit CoreSite.com and follow us on LinkedIn and Twitter.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the level of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; the effects on our business operations, demand for our services and general economic conditions resulting from the spread of the Novel Coronavirus (“COVID-19”) in our markets, as well as orders, directives and legislative action by local, state and federal governments in response to such spread of COVID-19; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
CoreSite
Megan Ruszkowski
Vice President of Marketing
720-446-2014
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Construction Projects, 2021 Update" report has been added to ResearchAndMarkets.com's offering.
The publisher is currently tracking oil and gas construction projects with a total value of US$3.52 trillion at all stages from announced to execution.
This pipeline mostly comprises production facilities, liquefaction plants, refineries, pipelines, and storage tanks. In terms of the current project pipeline value, the Middle East and Africa has the largest share, with its total of US$1.23 trillion accounting for nearly 35% of the global pipeline - ahead of the Asia-Pacific with 28% (US$1 trillion) and Americas with a 26% share (US$943 billion).
The pipeline in Europe is relatively small, totaling US$342 billion
Scope
Reasons to Buy
Key Topics Covered:
1. Global Overview
2. Regional Overviews
2.1 Americas
2.2 Asia-Pacific
2.3 Europe
2.4 Middle East and Africa
3. Project Analytics by Country
3.1 The US
3.2 Canada
3.3 Brazil
3.4 India
3.5 Russia
3.6 Iraq
3.7 Iran
3.8 Nigeria
3.9 Australia
3.10 Indonesia
4. Construction
For more information about this report visit https://www.researchandmarkets.com/r/qkflql
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Laura Wood, Senior Press Manager
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Purchase of share of 92-megawatt wind project in southwestern Wisconsin will happen after construction is completed
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE), in partnership with Wisconsin Public Service (WPS), a subsidiary of WEC Energy Group, received approval from the Public Service Commission of Wisconsin (PSCW) to purchase part of the Red Barn Wind Farm. MGE will own 9.1 megawatts (MW) of the 92-MW wind farm that will be built in the Towns of Wingville and Clifton in Grant County.
"The Red Barn Wind Farm will help MGE to meet future energy and capacity needs cost-effectively as we continue our ongoing transition to a more sustainable energy supply. We are working every day toward net-zero carbon electricity by 2050 for all our customers," said Jeff Keebler, MGE Chairman, President and CEO. "We have said since announcing our net-zero goal, if we can go further faster through partnerships with our customers and the evolution of new technologies, we will."
The Red Barn Wind Farm will be developed by PRC Wind and constructed by ALLETE Clean Energy. The approximately 12,000-acre project will feature 28 turbines. WPS will own the remaining 82.5 MW.
Construction is expected to begin this year, and the Red Barn Wind Farm is expected to begin serving customers by the end of the year. The project is expected to generate enough clean energy to power approximately 40,000 households. MGE's share of the project will power about 4,000 households.
Working toward net‐zero carbon electricity
MGE has reduced its carbon emissions 30% since 2005 and expects to achieve carbon reductions of at least 65% by 2030, consistent with global climate science to limit global warming. MGE continues to transition its energy supply to cleaner sources, with the anticipated addition of nearly 400 MW of wind, solar and battery storage between 2015 and 2024.
In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities in the nation to commit to net-zero carbon by mid-century. MGE's net-zero goal is consistent with climate science from the Intergovernmental Panel on Climate Change (IPCC) October 2018 Special Report on limiting global warming to 1.5 degrees Celsius. 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.
About MGE
MGE generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 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
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- Hyundai Heavy Industries (HHI) Group and Palantir Technologies to establish a big data platform for HHI Group’s core businesses
- Palantir Technologies and Hyundai Heavy Industries plan to form a joint venture to commercialize big data solutions
- Hyundai Heavy Industries will deploy Palantir Foundry
DENVER & SEOUL, South Korea--(BUSINESS WIRE)--Hyundai Heavy Industries (HHI) Group and Palantir Technologies Inc. (Palantir, NYSE: PLTR), a leading builder of operating systems for the modern enterprise, will collaborate to build a big data platform for HHI’s core businesses, including shipbuilding and offshore engineering. The two parties will also consider establishing a joint venture to promote the big data platform business in the mid- to long-term.
HHI Group and Palantir signed a memorandum of understanding on January 4 for the establishment of the big data platform and a joint venture. The signing event was held in a hybrid online and offline format one day before “CES 2022” and was attended by Kisun Chung, CEO of Hyundai Heavy Industries Holdings; Young-cheul Cho, CEO of Hyundai Doosan Infracore; Seok Cho, CEO of Hyundai Electric; as well as chief executives from Palantir Technologies.
Based on the agreement, HHI Group and Palantir will jointly build a big data platform for the Group’s key affiliates related to shipbuilding & offshore engineering, energy, and industrial machinery. HHI Group will provide the affiliates’ process expertise and sales know-how whereas Palantir will offer software and development personnel.
Once the big data platform for each affiliate is built, the two parties plan to create a joint venture that specializes in developing and selling big data platform services. Based on the accumulated achievements, the joint venture will commercialize big data solutions from platform construction to operation to generate sales targeting domestic and foreign companies.
Hyundai Heavy Industries, a shipbuilding and offshore engineering affiliate of HHI Group, is working on the “Future of Shipyard (FOS)” project to transform itself into a smart shipyard, the first of its kind in the world, by 2030. All processes from design to production are connected in real time to build a shipyard that enables smart work management where Palantir’s Foundry data platform is applied.
The big data platform will also be adopted by energy affiliates, such as Hyundai Oilbank. The energy company plans to build a platform at its plant in Daesan, South Chungcheong Province, South Korea, for five years from this year with a strategy to maximize process efficiency by integrating more than 100 production management systems into one.
Hyundai Doosan Infracore, an affiliate of industrial machinery, already developed “DI 360,” a big data collaboration platform, with Palantir Technologies in 2019, and is currently using it to manage its parts supply chain, handle on-site quality claim issues, and seize sales opportunities. HHI Group and Palantir Technologies are also planning to consider building a platform for other affiliates, such as Hyundai Construction Equipment.
Kisun Chung, CEO of Hyundai Heavy Industries Holdings, said, “We expect that this partnership with Palantir Technologies will substantially improve the competitiveness of core businesses of the Group. It will be an important turning point in innovation of organizational culture that changes the way we work using data.”
“HHI Group shaped one of the most significant industries of the twentieth century and is absolutely vital to the lives we lead,” said Alexander C. Karp, co-founder and chief executive officer of Palantir Technologies Inc. “We are deeply grateful for the opportunity to partner with a company that is not only a leader among the world’s industrial giants but one whose continued growth and success are critical to our collective welfare and security.”
About Palantir Technologies Inc.
Palantir Technologies Inc. builds and deploys operating systems for the modern enterprise. Additional information is available at https://www.palantir.com.
Who dares, wins.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir Technologies’ expectations regarding the terms and the expected benefits of the partnership and the expected benefits of Palantir Technologies’ software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond Palantir Technologies’ control. These risks and uncertainties include Palantir Technologies’ ability to meet the unique needs of its customers; the failure of its platforms to satisfy its customers or perform as desired; the frequency or severity of any software and implementation errors; the reliability of Palantir Technologies’ platforms; the terms and conditions of any commercial agreements or relationships; and the ability of Palantir Technologies’ customers to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties is included in the filings Palantir Technologies makes with the U.S. Securities and Exchange Commission from time to time. Except as required by law, Palantir Technologies does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Lisa Gordon
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BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (“Arcline”), today announced its acquisition of Federal Equipment Company (FEC). The acquisition significantly expands FMD’s product capabilities and service solutions for shipyard, defense, and industrial customers – with emphasis on its support for and offerings to the U.S. Nuclear Navy.
The transaction includes FEC Military, a global leader in designing and manufacturing mission-critical components and systems for the U.S. Navy and U.S. Coast Guard, including its advanced cargo elevators, engineered doors and specialized material handling equipment. The transaction also includes FEC’s commercial business, which delivers handling solutions to manufacturing customers outside the defense market.
“Fairbanks Morse Defense is committed to the values that define us as a leading defense contractor. The capabilities, experience, and quality reputation that we’re acquiring with FEC reinforce this commitment and solidify our position as a proven, single-source provider to our naval customers,” said FMD CEO George Whittier. “Both FEC and Fairbanks Morse Defense have highly experienced teams who understand the critical role that our customers play in protecting the nation, and they are all dedicated to delivering the highest quality service in support of that mission. Combining our knowledge and capabilities makes us a powerful asset for the defense industry.”
The FEC acquisition adds extensive capabilities to FMD, solidifying Fairbanks Morse Defense’s position as an integrated defense contractor and turnkey solutions provider to the U.S. Navy and U.S. Coast Guard. In recent years, FMD has completed multiple acquisitions to better serve defense customers, including its acquisitions of Hunt Valve Company, Ward Leonard, and Welin Lambie.
Founded in Ohio in 1982, FEC has approximately 145 employees. The company is headquartered on its campus near Cincinnati, Ohio, which includes two facilities totaling 100,000 square feet. In addition, FEC has begun construction on a 50,000 square foot facility, which will further increase its manufacturing capacity and capabilities. This building is expected to open in mid-2022.
“Through the process of designing and creating the systems for today’s and tomorrow’s marine fleets, we’re proud to have earned a reputation for successfully taking on some of the most difficult engineering and manufacturing challenges for the Navy, Marines, and the Coast Guard,” said FEC President Doug Ridenour. “Fairbanks Morse Defense has earned a similar reputation for excellence in the defense industry, which makes this a great fit for both companies.”
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
About Federal Equipment Company (FEC)
Federal Equipment Company (FEC) was incorporated in Ohio in 1982 as a partnership of experienced shipboard equipment engineers and technical experts in specialized material handling equipment. Working closely with the many domestic shipyards for their various projects, the company grew with the added benefit of the expansive machining capabilities located in and around the Ohio Valley Area. Since then, the company has vastly expanded its capabilities and geographic presence, emerging as an internationally recognized organization.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#RenewableEthanol--UGI Corporation (NYSE: UGI) announced today that it has entered into a 15-year agreement with California-based technology developer, Vertimass, to utilize their catalytic technology to produce renewable fuels from renewable-ethanol in the U.S. and Europe.
The agreement centers on the development of production facilities using Vertimass’ catalytic technology to convert renewable ethanol into renewable-propane and sustainable aviation fuel (SAF). The technology enables flexible production of the renewable fuels to align with regional market demand. Up to 50% of the total production capacity from the facilities can be renewable-propane that will support UGI’s ongoing efforts to provide innovative, low-carbon, sustainable energy solutions to its customers.
UGI expects to invest either solely, jointly with Vertimass or in partnership with third parties to build and operate multiple production facilities over the next 15 years in locations across the U.S. and Europe, significantly increasing the supply of renewable-propane and SAF. UGI anticipates a total investment of roughly $500 million for the bolt-on production facilities over a 15-year period, including potential third party investment, with total production target from these aggregated facilities of approximately 1 billion gallons of combined renewable fuels per annum. The goal is to have the first production facility onstream in fiscal year 2024 with an annual production target of approximately 50 million gallons of combined renewable fuels.
Vertimass employs catalytic technology to convert renewable ethanol and other renewable alcohols into renewable hydrocarbon fuels that are compatible with the existing equipment and infrastructure. This technology can be bolted on to existing ethanol production facilities, optimizing GHG emissions reduction, and bringing further end product diversification to the existing ethanol producer. The introduction of such ethanol-based “bio-refineries” is an attractive proposition for skilled job development and the opportunity to further drive energy independence using local resources.
“This is another significant milestone in our commitment to providing renewable fuels to our customers,” said Roger Perreault, President and Chief Executive Officer of UGI Corporation. “Our business development team continues to seek out innovative opportunities and I am delighted with our newly established partnership with Vertimass. We believe this partnership will deliver significant renewable LPG for our customers as well as bring investment opportunity to interested stakeholders.”
Charles Wyman, Vertimass President and Chief Executive Officer, continued “Vertimass is extremely excited to work with UGI to commercialize our breakthrough technology. UGI and Vertimass have built strong relationships over the last year, which we believe will cement success.” Bill Shopoff, Vertimass Chair, noted “Together we will take advantage of this unique low-cost technology to transform ethanol facilities and produce renewable fuels that will cover UGI’s global footprint, as well as enable the production of SAF.”
More About the Technology
Vertimass is developing a unique Consolidated Alcohol Deoxygenation and Oligomerization (CADO) technology to allow ethanol producers to 1) produce sustainable aviation fuel (SAF) and diesel blendstocks that are compatible with the current transportation fuel infrastructure as well as LPG (liquified petroleum gases, mainly propane and butane), 2) eliminate the ethanol “blend wall” by converting ethanol into fungible gasoline components for powering light duty vehicles, 3) produce intermediates used to make plastics and other higher value products, and 4) possibly debottleneck processes to increase throughput with little additional costs other than for feedstock. CADO completely converts wet ethanol (and other alcohols) into targeted hydrocarbons in a simple reactor system at moderate temperatures and near atmospheric pressure without adding hydrogen. Other benefits include the ability to lower plant water usage, reduce overall energy consumption, and drop GHG emissions to levels required for the Renewable Fuel Standard (RFS) Advanced Biofuel category.
Introduction to Renewable-LPG (Renewable Propane)
Renewable LPG, also known as renewable-propane, is chemically identical to today’s fossil LPG (C3H8) and therefore can be used with existing infrastructure. It has up to 80% lower carbon footprint than that of conventional LPG.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About Vertimass
Vertimass LLC is based in Irvine, California. The mission of Vertimass LLC is to develop and widely license breakthrough technologies that substantially expand production of sustainable transportation fuels and chemicals that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization of proprietary Vertimass technology can overcome the blend wall that currently impedes expansion of ethanol production from multiple sources of biomass and open up large new markets for aircraft and heavy-duty vehicle fuels and for chemicals not currently amenable to ethanol.
For more information, visit http://www.vertimass.com/.
This is neither an offer to sell nor a solicitation of an offer to buy any security. Such an offer may only be made by means of an offering document that must accompany or precede this information. There is no assurance that this strategy will succeed to meet its objectives. An investment in this type of product involves a high degree of risk including loss of investment, and is illiquid with an uncertain illiquidity date. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC.
Media
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LAS VEGAS--(BUSINESS WIRE)--Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, announced the expansion of its digital presence of CES to bring CES2022 and its innovations to the living rooms of technology enthusiasts around the world.
As part of its digital campaign the company has transformed the in-person immersive experience available at its 3000 square feet booth at CES into a virtual reality (VR) and 360 degree experience that can be viewed for free on their Youtube channel. The VR experience showcases the scope of technology and innovation that Wallbox is presenting in person at CES and is designed to allow people to see how its next generation technology can change the user's day-to-day life.
“Innovation can be hard to explain in words, so we really wanted to show people what we are doing. Our virtual reality experience allows people to understand how these relatively new technologies like vehicle to home (V2H) or sustainable energy management work in real life situations.” said Bárbara Calixto, CMO of Wallbox.
The company also plans to produce daily content to share more of what’s happening at the show with home viewers. Part of this content will be dedicated to presenting the two latest pieces of hardware being unveiled at the event.
Copper 2 - Wallbox will present its latest Business charger for the European market. With 22kW charging power, Copper 2 has been rigorously designed to close the gap in business charging needs, bringing a new take on Business EV charging. The new charger addresses companies’, installers’ and drivers’ need for more robust and reliable chargers, that are user-centric and come with energy management, installation and maintenance options. Copper 2 is expected to begin production in Q3 2022.
Quasar 2 - the latest generation of its bidirectional home charger designed specifically for the North American market. As well as enabling EV owners to charge and discharge their electric vehicle to power their home or the grid, Wallbox’s latest innovation is designed to give EV drivers the ability to isolate their home from the grid and use their EV for backup power during a blackout.
“Wallbox continues to innovate pioneer technologies that make it easier for consumers all over the world to choose and adopt electric driving and the use of renewable energy in their daily lives. Quasar 2 and Copper 2 are our latest products designed to respond to the needs we anticipate as millions of people are expected to make this transition,” said Enric Asunción, CEO and co-founder of Wallbox. “We want to get people excited about our technology and show them how it is changing the way the world uses energy”
Through their digital content, the company will also give viewers insight into the design process behind Wallbox products, for which the company has been presented with many awards, including at CES2020. The company also plans to offer a tour of some of the hottest trends in the electric vehicle space at CES this year.
“CES is an opportunity for the tech community to showcase where technology is headed,” said Barbara Calixto, Chief Marketing Officer for Wallbox. “It’s an important event globally, and we wanted to ensure that we could share the experience with as many people as possible and get them excited for the future of EV charging and energy.”
Where to find Wallbox
Viewers can see Wallbox’s product unveilings, a guided tour of their booth and more through their official Youtube channel, Linkedin, Twitter, Instagram, and their CES2022 landing page.
For those attending CES2022 in person, Wallbox can be found in the West Hall 6627 of the Las Vegas Convention Center.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 80 countries.
Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes "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 statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the content to be produced during the CES. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to the factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Sara Long
Spark for Wallbox
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KENNESAW, Ga.--(BUSINESS WIRE)--The Yamaha Rightwaters plastics recycling program returned more than 10,000 pounds of Polyethylene and Polypropylene sheet plastics back to base materials during 2021, proving a pilot concept the sustainability initiative hopes to expand in 2022. Yamaha Rightwaters announced the program in August and continues to work with Nexus® of Atlanta, Georgia and Tommy Nobis Enterprises® of Marietta, Georgia, to develop a larger national program intended to reduce plastic waste in America’s waterways.
“Polyethylene and Polypropylene constitute a substantial portion of the plastic in our oceans harming fish populations. This pilot program proves these plastics can be broken down in a cost-effective manner that Yamaha Rightwaters can potentially replicate on a national level,” said Martin Peters, the Government Relations Division Manager for the Yamaha U.S. Marine Business Unit. “It also demonstrates that Yamaha builder and dealer partners are willing to become active participants in the program, further underscoring a marine industry commitment to conservation and sustainability.”
Yamaha developed a reverse logistics program to return the protective covers from select boat builders, retail dealers and its three boat production facilities. The sheet plastic used in the pilot program comes from protective boat covers at Contender Boats, Regulator Marine, Xpress Boats, Yamaha Jet Boat Manufacturing (YJBM), Skeeter and G3 Boats.
The materials ship to Tommy Nobis Enterprises, which separates recyclable plastics from other materials, such as plastic zippers, cords and eyelets. Tommy Nobis Enterprises then ships the material - known as feedstock in the recycling industry - to Nexus® for processing into raw materials, which range from gasses to waxes. Those raw materials are used for other products.
Yamaha Rightwaters is a national sustainability program that encompasses all of Yamaha Marine’s conservation and water quality efforts. Program initiatives include habitat restoration, support for scientific research, mitigation of invasive species, the reduction of marine debris and environmental stewardship education. Yamaha Rightwaters reinforces Yamaha’s long-standing history of natural resource conservation, support of sustainable recreational fishing and water resources and Angler Code of Ethics, which requires pro anglers to adhere to principles of stewardship for all marine resources.
Yamaha’s U.S. Marine Business Unit, based in Kennesaw, Ga., is responsible for the sales, marketing, and distribution of Yamaha Marine products in the U.S. including Yamaha Outboards, Yamaha WaveRunners, Yamaha Boats, G3 Boats and Skeeter Boats. Supporting 2,400 dealers and boat builders nationwide, Yamaha is the industry leader in reliability, performance, technology and customer service.
Tommy Nobis Center is a Marietta-based nonprofit that helps individuals with disabilities enter or return to employment.
Nexus®, based in Atlanta, Ga., is an end-to-end plastics recycling business – an operational, commercially scaled, continuous system. The Nexus® plant in Atlanta is the first multi-polymer pyrolysis operation in the US to receive ISCC Plus™ certification. Nexus has developed a highly efficient system built at low capital cost and without a need for catalysts or post-processing, yielding clean, ISCC Plus™ on-specification outputs. Nexus® has converted more than 2.5 million pounds and counting of landfill-bound plastics into virgin resins for customers like Royal Dutch Shell and Chevron Phillips Chemical. Investors include Cox Enterprises®, a $21-billion family-owned business committed to global sustainability. The Nexus® process is efficient, environmentally friendly, and encompasses rigorous operational and business standards. The company’s operating philosophy is founded on the principle that for any recycling solution to succeed, it must be profitable, technically proven at scale, and operate as a robust stand-alone business, while creating a meaningful and positive environmental impact.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
Brad Massey
Manager, Corporate Communications and Video
Yamaha U.S. Marine Engine Systems
Office: (770) 701-3294
Mobile: (470) 227-9024
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Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
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