Company to Expand its Digital Platform for Metal Recycling Operators
NEW YORK--(BUSINESS WIRE)--GreenSpark Software, a modern software platform for the metal recycling industry, today announced it has raised $5 million in Series A financing, led by Tiger Global, to expand its employee base and product suite. Additional investors who participated in the round include Bienville Asset Management and select strategic individuals. This round of fundraising brings GreenSpark’s total financing to $6 million.
GreenSpark helps metal recyclers streamline their entire operation, from point of purchase all the way to ultimate sale. With easy-to-use purchasing and sales features, inventory management, and CRM tools, metal recyclers can buy metal more quickly, understand their operation’s commodity positions, and move paper-driven processes online.
“The response to our platform throughout the metal recycling industry has been overwhelmingly positive,” said Gordon Driscoll, co-founder and CEO of GreenSpark. “Leaders of metal recycling operations across the U.S. recognize their success depends both on how well they can engage with their suppliers and consumers, and their ability to drive efficiencies within their operations. GreenSpark gives metal recycling professionals a platform to follow the metal all the way through their yard in a modern, easy-to-use manner that improves customer experience and saves clerical work.” Learn more about the Founder and CEO’s thoughts on the importance and potential of the metal recycling industry here.
About GreenSpark
Earlier this year, GreenSpark founders Gordon Driscoll and Evan Vandegriff set out to modernize and digitize the metal recycling industry. GreenSpark provides an end-to-end, web-based software solution for metal recyclers, helping them save time and money by streamlining their operation and increasing their access to data. GreenSpark has raised $6 million in venture financing from Tiger Global, Bienville Asset Management, and more. GreenSpark was launched with the support of Fractal, a company that helps entrepreneurs launch and scale vertical SaaS startups. For more information, visit www.greensparksoftware.com.
Gordon Driscoll
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SINGAPORE--(BUSINESS WIRE)--Atlantic, Gulf & Pacific International Holdings (AG&P), a leading downstream LNG platform and infrastructure development company, announced today that Osaka Gas Co. Ltd., through its affiliate Osaka Gas Singapore Pte. Ltd. and JOIN (Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development), have reinforced their commitment to AG&P by investing up to $120 million in AG&P CGD HoldCo SPV3 (Singapore) Pte. Ltd. (AG&P City Gas), a Singapore-based company that is developing twelve city gas distribution networks, or concessions, in India under the brand name AG&P Pratham.
The new equity will be used to continue to execute AG&P City Gas’s build-out of its 12 exclusive concessions in South India and Rajasthan. The AG&P network is expanding every day to reach millions of people with clean fuel, including compressed natural gas (CNG) for their vehicles and piped natural gas (PNG) in their homes as well as provide fuel for large and small industrial and commercial customers.
Osaka Gas is a leading energy company and the second largest gas supplier in Japan with a history going back more than one century. Founded in 1897 and in operation since 1905, the company serves around 5 million natural gas customers in the Kansai region, the most populated area in western Japan, including Osaka, where the company is headquartered.
“We are the first Japanese company to invest in the city gas sector in India through AG&P City Gas. It marks a milestone in a long-term relationship where AG&P and Osaka Gas have worked together to develop LNG infrastructure projects in South Asia and Southeast Asia, among others. We strongly believe that our investment in AG&P City Gas will provide Osaka Gas with a valuable asset. We look forward to developing it into one of our core businesses in Asia. With exclusive rights for a vast swath of southern India, roughly equivalent to three-quarters of the area of Japan, these 12 concessions are expected to generate over time a demand of 3.5 billion m3 in gas sales volume, or approximately 50% of Osaka Gas’ recorded gas sales volume last year on a non-consolidated basis. We are very privileged to work with our long-time partner AG&P and make this clean energy available quickly and safely to the citizens of India who live in these areas,” said Mr. Katz Sato, Senior General Manager, Asia Energy Business Department for Osaka Gas.
JOIN, a Japanese government-private sponsored infrastructure investment fund company with a market cap of US$1.4 billion as of June 2021, was established in 2014 to support Japanese businesses developing infrastructure projects overseas. JOIN received approval from the Minister of Land, Infrastructure, Transport and Tourism of Japan to invest in AG&P City Gas to support Osaka Gas’s ongoing collaboration with AG&P in expanding its overseas businesses.
“We, alongside Osaka Gas, are excited to participate in the future of AG&P and to expedite the roll-out of these vital gas network, LNG storage and transportation solutions being built in India by AG&P City Gas. Over the coming years, the AG&P City Gas network will continue to grow to serve millions of customers in their homes with clean, affordable, safe fuel while simultaneously continuing to build CNG stations for vehicles to transition and operate on clean fuel seamlessly. The partnership with AG&P and Osaka Gas is also very important because it will help Japanese companies develop a strong cargo transport business using CNG vehicles in India, which will contribute to Japan’s priority policy of carbon neutrality and protect the health and lives of thousands of Indians,” said Mr. Toshiyuki Suzuki, Managing Executive Officer and Head of the Project Department for JOIN.
“As an existing investor in AG&P’s parent, Osaka Gas has continued to demonstrate its support for AG&P’s downstream LNG and natural gas business. We are honored to welcome JOIN. The stability and strength of JOIN and the technical and commercial expertise of Osaka Gas and its long history in city gas will accelerate the smart deployment of our network across our concessions in India,” said Mr. Joseph Sigelman, Chairman and CEO of AG&P.
Mr. Sigelman continued: “Most importantly, this partnership comes at a time when natural gas is being recognized as the critical transition fuel that will have a profound impact on the reduction of carbon, NOX, SOX and particulates which not only contribute to climate change, but also to the ill health of thousands of Indians each year. We look forward to a network that can have such a major impact. We are truly humbled and very grateful to work with Osaka Gas and JOIN.”
Mr. Abhilesh Gupta, Managing Director of AG&P City Gas commented: “AG&P City Gas enjoys a world-leading group of managers, investors and technical and commercial experts, bringing local knowledge of India and global experience born over decades.”
This is the second investment that AG&P City Gas has received in 4 months. In August 2021, AG&P City Gas received US$ 200 million from I Squared Capital, through its ISQ Global Infrastructure Fund III and ISQ Growth Markets Infrastructure Fund. Combined with the investment from the Osaka Gas and JOIN consortium, the total equity infusion available for AG&P City Gas is over US$300 million.
About AG&P Group: Atlantic Gulf & Pacific (AG&P) develops LNG import and regasification facilities as well as downstream city gas networks. AG&P also provides engineering and project management services for LNG and other infrastructure. AG&P is part-owned by Osaka Gas, JBIC (the Japan Bank of International Cooperation) and Asiya, a publicly-traded Kuwait fund, as well as its management.
About AG&P City Gas: Operating under the brand of AG&P Pratham, AG&P City Gas is one of the largest private City Gas Distribution (CGD) companies in India. The company is developing CGD networks across 12 concessions in the Indian states of Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka. and Kerala.
About Osaka Gas:
For more information on Osaka Gas, please visit https://www.osakagas.co.jp/en/
About Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN):
For more information on JOIN, please visit https://www.join-future.co.jp/english/
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MONTGOMERY, Ala.--(BUSINESS WIRE)--#AMEA--Lightsource bp has successfully closed on a $100 million financing package for its 130 megawatt (MWdc) Black Bear Solar energy project in Montgomery County, Alabama. When complete, Black Bear will meaningfully contribute to Alabama’s cumulative utility-scale solar capacity.
The tax equity investment for the project was secured from Minneapolis-based U.S. Bank. Debt for the project was provided by Banco Santander, one of the largest banks in the world by market capitalization, headquartered in Spain, and Sumitomo Mitsui Banking Corporation (SMBC), a top-tier global financial group headquartered in Tokyo. The balance of the equity requirements will be invested by Lightsource bp.
Kevin Smith, CEO of the Americas, Lightsource bp: “This project demonstrates the positive impacts that result from partnerships with shared goals to reduce carbon emissions, deliver affordable electricity, create jobs and contribute to local communities. It’s also a testament to the cost-effectiveness and bankability of solar energy that world-class lenders are supporting this project, and that AMEA has agreed to purchase the electricity on a long-term basis to the substantial benefit of its members.”
The power contract secured with Alabama Municipal Electric Authority (AMEA) played a critical role in enabling investment and financing of this new energy infrastructure for Alabama. AMEA, located in Montgomery, is the wholesale power provider for 11 public power utilities in Alabama, which serve some 350,000 customers in the cities of Alexander City, Dothan, Fairhope, Foley, LaFayette, Lanett, Luverne, Opelika, Piedmont, Sylacauga, and Tuskegee.
Fred Clark, President & CEO, AMEA: “AMEA is excited about our partnership with Lightsource bp. This large scale solar project will help diversify AMEA’s fuel resources, and will continue to provide low-cost electricity to our Members’ customers.”
Situated 15 miles from AMEA’s headquarters in Montgomery, Black Bear Solar will supply cost-effective, locally sourced, sustainable electricity to AMEA’s 11 Member utilities located across the state. In addition to providing clean energy and bill savings to AMEA’s Members and their customers, the project will contribute almost $7 million in property tax revenue to county schools over the first 35 years of the project life.
About Lightsource bp
Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Our team includes over 600 industry specialists, working across 15 countries. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta, and Austin. For more information visit lightsourcebp.com, follow us on Twitter @lightsourceBP and Instagram @lightsourcebp or view our LinkedIn page.
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Strategic Partnerships Designed to Boost Tourism and Provide Multimodal Transport, Logistics and Digital Solutions for the Hashemite Kingdom of Jordan
AQABA, Hashemite Kingdom of Jordan--(BUSINESS WIRE)--AD Ports Group, a leading facilitator of trade and logistics, has strengthened its regional footprint by signing a number of four strategic agreements and a Head of Terms Agreement (HoT) with the Aqaba Development Corporation that will see AD Ports Group support the development of tourism, logistics, transport, and digital infrastructure within Aqaba.
The signing ceremony took place in Aqaba in Jordan in the presence of H.E. Nasser Shraideh, Minister of Planning and International Cooperation, representing H.E. Dr. Bisher Al Khasawneh, Prime Minister of Jordan; H.E. Ahmed Ali Mohammed Al Baloushi, UAE Ambassador to the kingdom; H.E. Dr. Mohamad Al-Ississ, Minister of Finance; H.E. Eng. Khairy Amr, Minister of Investment; and H.E. Dr. Nawaf Tall, Minister of State for Follow-up and Government Coordination; and H.E Eng. Nayef Ahmad Bakheet, Chief Commissioner, Aqaba Special Economic Zone Authority, Chairman of Aqaba Development Corporation, along with a number of officials from both sides. The four strategic agreements and a Head of Terms Agreement were signed by Hussein Ali Alsafadi, CEO, Aqaba Development Corporation and Captain Mohamed Juma Al Shamisi, Group CEO, AD Ports Group.
The strategic partnerships concern the development of Marsa Zayed, a cruise terminal, and the development of an advanced digital Port Community System, in addition to Head of Terms agreements to explore the development and modernisation of a multipurpose port and King Hussein International Airport.
Marsa Zayed Land Agreement
The agreement is in relation to the development of a land area of 1.2 million sqm in phase 1 of the development of the 3.2 million Marsa Zayed area by AD Ports Group, which will include a cruise terminal, tourism, leisure, residential and other projects. The development is planned to position Aqaba as a major Red Sea destination of choice.
Cruise Terminal Agreement
Under this Agreement, which builds upon a Head of Terms Agreement announced earlier in the year, AD Ports Group will develop, manage and operate a new cruise terminal in Aqaba, which will serve as a gateway for passengers visiting the Red Sea.
Maqta Ayla, New Joint Venture
Maqta Gateway, the digital arm of AD Ports Group, has signed a joint venture Agreement with Aqaba Development Corporation establishing “Maqta Ayla” to develop and operate an advanced Ports Community System (PCS). The system will oversee the communication between the Port of Aqaba and terminal operators, as well as the Aqaba Special Economic Zone Authority (ASEZA), Aqaba Development Corporation, Jordan Maritime Commission and other stakeholders within the Port’s ecosystem. The system is expected to complete around two million digital transactions per year, generate considerable cost and time savings for stakeholders and customers, reduce CO2 emissions and streamline services.
HoT on the Development and Modernisation of a Multi-Purpose Port
The HoT sees the Aqaba Development Corporation and AD Ports Group cooperating on exploring the development and modernisation of a multi-purpose port with world-class facilities including Ro-Ro, general cargo, grain and livestock handling.
Development of King Hussein International Airport Agreement
The Agreement will see AD Ports Group collaborate with Aqaba Development Corporation on the development of King Hussein International Airport – Aqaba, to enable increasing volumes of international and domestic tourism, ensuring a seamless journey for passengers moving between the airport and the Aqaba Cruise Terminal, while enhancing air logistics and expanding Aqaba’s air network connectivity.
H.E Eng. Nayef Ahmad Bakheet, Chief Commissioner, Aqaba Special Economic Zone Authority, Chairman of Aqaba Development Corporation said: “We have found a key partner in AD Ports Group, which has the vision, expertise and track record necessary to develop world-class port and cruise and digital infrastructure.
“The agreements and HoT on the development of Marsa Zayed and a cruise terminal, exploring the modernisation of a multipurpose port, the development of King Hussein International Airport, and the establishment of “Maqta Ayla” for digital systems, represent a significant addition to our efforts that aim to develop Aqaba region, and enable rising volumes of visitors to come and experience the Golden Triangle of Jordan, with our unique tourism offerings of Wadi Rum, Aqaba and the ancient city of Petra.”
Captain Mohamed Juma Al Shamisi, Group CEO, AD Ports Group, said: “This strategic alliance will boost the wider efforts of the leadership of Abu Dhabi to drive trade and tourism with our neighbours in the region, and to develop world-class infrastructure to expand global reach.
“Collectively, these mega-projects represent one of the most significant integrated transport, logistics and tourism development programmes announced in the Hashemite Kingdom of Jordan in recent years.
“Working with our partners in the Aqaba Development Corporation, these ambitious projects will significantly expand the facilities available to travellers and businesses via sea, land and air. This in turn will help grow the trade and tourism sectors, while strengthening Aqaba’s status as a major regional hub and support the kingdom’s economic development plans.”
Hussein Alsafadi, CEO, Aqaba Development Corporation stressed the importance of this collaboration and strategic partnership which will help in creating investment and job opportunities, as well as foster the role of Aqaba as a key regional hub in trade, logistics, and maritime and air transportation.
Abdulla Al Hameli, Head of Industrial Cities & Free Zone Cluster, AD Ports Group said, “We are excited to partner with the Aqaba Special Economic Zone Authority for the development of a land area of 1.2 million sqm comprising real estate development projects, tourist residential complexes, hotels, chalets, commercial centres and theme parks. This significant project contributes towards positioning Aqaba as a major tourism and business destination in the region.”
Saif Al Mazrouei, Head of Ports Cluster, AD Ports Group, said: “We are delighted to be able to play our part in the development of the Port of Aqaba and the new cruise terminal, drawing on our expertise in the cruise sector and our experience in providing advanced services across the supply chain.
“We are confident that this cooperation will prove beneficial for both sides, as it combines Aqaba’s significant growth potential as a cruise destination and a regional hub on the Red Sea with AD Ports Group’s leadership in providing advanced services and infrastructure for cruise passengers and cargo ships.”
Dr. Noura Al Dhaheri, CEO of Maqta Gateway, Head of the Digital Cluster- AD Ports Group, said: “As a result of these partnership agreements, Aqaba’s cruise, logistics and shipping sectors will have to access a broad range of innovative technologies that support optimised services across land, sea and air. Digitalisation will introduce important efficiencies and eliminate risks from the supply chain, with a fully integrated platform that delivers the best possible customer experience.”
Eng. Mohammad Al-Sakran, Executive Director, Transport & Logistics, Aqaba Development Corporation, noted: “This strategic partnership will promote Aqaba as a major player in the region’s supply chain. The digital transformation resulting from this partnership will also create a new ecosystem that will enhance the resilience of the maritime sector in Aqaba”.
About AD Ports Group
About Aqaba Development Corporation
*Source: AETOSWire
Sana Maadad
Director Corporate Communications, +971506250890
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DUBLIN--(BUSINESS WIRE)--The "Global Smart Textiles Market with COVID-19 impact analysis by Type (Passive, Active/Ultra-smart), Function (Sensing, Energy Harvesting & Thermo-electricity, Luminescence & Aesthetics), Vertical, & Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The smart textiles market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026; it is expected to grow at a CAGR of 23.2%
The major driving factors for the growth of the smart textiles market include implementation of advanced technologies in smart textiles, miniaturization of electronic components and an expanding wearable industry, among others.
Energy harvesting and thermoelectricity function to have the highest CAGR during the forecast period
The science of energy harvesting materials has witnessed phenomenal progress in recent years. Technological advancements have enabled the development of new and distinctive molecular materials and devise artificial photosystems, and their applications are far more remote than the conventional solar cell technology. The basic principle of wearable devices and their way of hybridizing with PV cells includes the mechanism of thermoregulation in humans.
The growth in the use of wearable, mobile, and electronic textile-sensing devices has increased the need for keeping these devices powered continuously. Many smart clothing providers have proposed the integration of energy harvesting capabilities into clothing, e.g., solar energy harvesting, which is one of the most investigated avenues due to the abundance of solar energy.
Many start-ups and research institutions are actively involved in developing this technology.
Military and protection vertical to dominate the smart textile market during the forecast period.
In 2020, the military and protection segment accounted for the largest size of the smart textiles market and is also expected to hold its dominant position throughout the forecast period.
Smart textiles for military application offer various features such as advanced insulation properties and ballistics protection, as well as are made from waterproof fabric, while some are capable of health monitoring and equipped with GPS systems, sensors, and motion trackers.
APAC to grow at highest CAGR during the forecast period
The market in APAC is expected to grow during the forecast period. APAC region is witnessing increased demand for smart textiles attributed to the rapidly expanding healthcare industry. Smart textiles are used for continuously monitoring the patient's condition and receiving communication and positioning. Development of manufacturing hubs in countries like China and India will drive the demand in APAC region.
AiQ Smart Clothing (Taiwan), Jabil (US), DuPont (US), and Alphabet (US) are some of the key players operating in the smart textiles market.
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For more information about this report visit https://www.researchandmarkets.com/r/sw4zg3
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ORANGE, Conn.--(BUSINESS WIRE)--Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR), announced today that its joint venture offshore wind project, Commonwealth Wind, has been selected as part of Massachusetts’ third offshore wind competitive procurement process. The 1,232 megawatt (MW) project, New England’s largest offshore wind project to date, will create 11,000 full time equivalent jobs over the project’s lifetime and generate enough energy to power 750,000 homes annually.
“Commonwealth Wind will power hundreds of thousands of homes and businesses in Massachusetts with clean energy, creating thousands of local jobs across the supply chain. It will also be a key project in helping the U.S. to achieve the 30 GW offshore wind target by 2030,” said Chairman and CEO of Iberdrola and Chairman of AVANGRID Ignacio Galán. “After investing $15 billion in 8 GW of onshore wind and solar, we are now leading the way in offshore wind energy in the U.S. with the construction of Vineyard Wind One and Park City Wind. With 15 years of experience delivering projects across the world, Iberdrola and AVANGRID are working hard to ensure our investments are transformational for the environment and the economy. Our U.S. offshore wind pipeline alone could deliver over $15 billion of investment in the coming years.”
“Commonwealth Wind is part of AVANGRID’s vision to build a clean energy economy through community investment and reimagination. This strategic project will diversify the energy workforce with good paying jobs while providing cost-effective, renewable energy,” said AVANGRID CEO Dennis V. Arriola. “The energy transition requires real commitment, expertise and vision and we thank the Baker Administration and the people of Massachusetts for their continued support as we work together to make this collective dream a reality.”
With the addition of Commonwealth Wind to AVANGRID’s existing portfolio of offshore wind development projects, the company will build, own and operate more than 2,400 MW of offshore clean energy once the joint venture restructuring with Copenhagen Infrastructure Partners and Avangrid Renewables closes.
Commonwealth Wind includes two transformative initiatives that convert former coal-fired power plant sites into clean energy centers including the creation of the state’s first offshore wind manufacturing facility at Brayton Point in Somerset and the establishment of a second offshore wind port in Salem Harbor, both of which will provide an anchor for building long-term jobs to service this new industry.
“This is more than just one project, it is part of an effort to build a clean energy infrastructure including the transformation of ports around our state as well as jobs and training that will support this clean energy industry for decades to come,” said President and CEO of Avangrid Renewables Offshore Bill White. “We are proud that Commonwealth Wind will help realize the vision of Governor Baker and the leaders of the Massachusetts Legislature in pioneering this new American industry.”
Transformative Partnerships
Commonwealth Wind will catalyze two major investments in Massachusetts communities that will generate significant long-term jobs and economic development:
Prysmian Cable Manufacturing Facility: Prysmian Group, a leading international subsea cable manufacturer, intends to build a state-of-the-art manufacturing facility for subsea transmission cables at Brayton Point, the former 1,600 MW coal-fired power plant in Somerset, MA.
Salem Offshore Wind Port: The Commonwealth Wind proposal enables Crowley Marine, in partnership with the City of Salem, to redevelop 42 acres surrounding Salem Harbor Station to serve as an offshore wind assembly and turbine staging port for the Park City Wind and Commonwealth Wind projects.
Clean Energy and Environmental Benefits
Commonwealth Wind offers the following additional clean energy and environmental benefits for the Commonwealth’s electricity consumers:
Investments in Workforce Diversity, Communities, and Innovation
Commonwealth Wind brings a ground-breaking set of commitments and partnerships to advance workforce diversity, community investment and technological innovation including:
Operations & Maintenance in New Bedford
The historic City of New Bedford will serve as the site for Avangrid Renewables’ Offshore Wind Control Center, a state-of-the-art facility that will provide remote control monitoring for the turbines, electrical service platforms and other offshore/onshore assets. The project also brings a first-in-nation, world class service and maintenance hub to New Bedford through a partnership with Semco Maritime, a leading international service provider that will employ up to 40 people at their new facility.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
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Digital PR and Marketing Firm Chosen Based on Experience Working with Category Disruptors
ATLANTA--(BUSINESS WIRE)--Trevelino/Keller, an integrated PR, marketing, and creative agency, today announced an ongoing partnership with Boatzon, an innovative online marine retailer offering a secure on-demand marketplace, giving boat and marine enthusiasts easy and direct access to vessels, engines, trailers, marine products and more.
Boatzon is the first of its kind, a 100 percent online boat and marine marketplace utilizing FinTech and InsurTech solutions. The company provides dealers a new and innovative sales channel while catering to seasoned professional boaters and beginners alike. Additionally, the platform allows buyers to choose from multiple finance offers from specialized marine banks and receive funding in as fast as 24 hours.
“The marine industry is lacking the innovation and technology that other industries have come to know and expect. Trevelino/Keller has a depth of experience working with emerging brands that use technology to disrupt a category,” shares Bryan Lenett, CEO of Boatzon. “Our team set out to develop a solution that offers a drastically different and elevated marine purchasing experience from start to finish. We are excited to work with Trevelino/Keller to amplify our visibility with a strategic public relations strategy,” continues Lenett.
“As an agency, we are drawn to collaborate with industry disruptors. Boatzon is a perfect fit as the emerging company is positioned to provide consumers with the most cutting-edge sales, finance, and insurance process,” notes Dean Trevelino, principal at Trevelino/Keller. “The pandemic has driven a heightened interest in outdoor activities and, in turn, consumer demand for new boats is significantly higher than in years past. We look forward to supporting Boatzon’s growth.”
Trevelino/Keller brings nearly 18 years of brand reputation, media strategy and social media experience to its partnership with Boatzon. According to the 2020 O’Dwyer’s PR Rankings, the firm ranks #2 in Technology and #2 in Lifestyle in Atlanta.
About Boatzon
Boatzon is the first 100 percent online boat and marine retailer utilizing FinTech and InsurTech solutions. The company’s digital marketplace gives boat and marine enthusiasts easy and direct access to vessels, engines, trailers, marine products and more. Boatzon allows for consumers to browse, finance, insure and purchase a boat or marine products entirely online in minutes.
About Trevelino/Keller
Trevelino/Keller is a 360-reputation marketing firm. It helps companies differentiate themselves utilizing the most efficient digital public relations and marketing capabilities. Successful across B2B and B2C, it has a diversified base of experience in technology, healthcare, financial services, franchising, environment as well as more mainstream segments like food and beverage, retail and consumer goods. Groovy Studios, its creative brand, delivers brand identity, graphic design and web services. Headquartered in Atlanta, the firm ranks as the year’s 12th fastest growing, second in Atlanta, with national rankings in nine industry segments. For more information, visit www.trevelinokeller.com.
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NEW YORK--(BUSINESS WIRE)--#KBRA--Kroll Bond Rating Agency (KBRA) releases its outlook on the U.S. transportation sector, which discusses trends impacting the airport, mass transit, and toll roads/bridges subsectors.
The COVID-19 pandemic has had a severe impact on U.S. airport passenger activity, mass transit ridership, and toll road and bridge traffic volumes. While the magnitude varies by mode and location, as does the degree of recovery, almost all public transportation providers have recorded revenue declines, which has necessitated expenditure reductions and service cutbacks. The tenor of transportation agency responses has varied widely, with multiple rounds of federal stimulus grants providing needed support for operations and debt service payments and affording a bridge toward recovery.
In this report, we explore the recovery in user demand, risks posed by the rise of COVID variants, and implications of changes in travel behavior. The article also examines the potential for capital development through the recently passed Infrastructure Investment and Jobs Act (IIJA), as well as some of the increasing ESG concerns that public transportation providers are contending with.
Key Takeaways:
Click here to view the report.
About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
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SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. ("Volta"), the industry leader in commerce and people-centric electric vehicle ("EV") charging, joined in support of the Environmental Protection Agency’s (EPA) announcement this morning that takes significant strides towards an all-electric, zero-emissions transportation future. The EPA is finalizing federal greenhouse gas (GHG) emissions standards for passenger cars and light trucks that target significant pollution reductions through Model Year (MY) 2026.
Today's announcement underscores the inevitable transition to a clean and carbon-free society, one that necessitates an increasingly faster shift to electric vehicles with a national, reliable, accessible charging network in the U.S. to match. Volta's EV charging technology was on hand at the announcement event in Washington D.C. to demonstrate the type of infrastructure needed to accelerate the reduction of emissions across the country.
"EV adoption demands open, reliable, and affordable charging in communities of every kind. Today's announcement underscores an unstoppable acceleration toward adoption at scale," said Scott Mercer, Founder and CEO of Volta. "Volta’s network is among the most utilized in the country. We've built the world's first intelligent, inclusive charging network centered on driver experience, and by uniquely connecting clean miles and local commerce, we can weave charging seamlessly into people's lives.”
The standards finalized today are the most ambitious vehicle emissions standards in Model Year 2026 for greenhouse gases ever established for the light-duty vehicle sector in the U.S. According to the EPA, they are based on sound science and grounded in a rigorous assessment of current and future technologies with supporting analysis that shows the standards are achievable and affordable. EPA's final standards for 2025 and 2026 are even more ambitious than those proposed in the initial rulemaking stage in August of 2021.
“At EPA, our priority is to protect public health, especially in overburdened communities, while responding to the President’s ambitious climate agenda,” said EPA Administrator Michael Regan. “Today we take a giant step forward in delivering on those goals, while paving the way toward an all-electric, zero-emissions transportation future.”
Unique in the market, Volta's intelligent charging network is AI and machine learning-powered, with the ability to predict and plan for charging needs in communities of all kinds. Currently, the company is working with utilities across the country to plan for future charging infrastructure that benefits everyone to build a more equitable and less polluted society. Volta’s media business offers a revenue stream uncoupled from a dependency on existing EV charging. Therefore, Volta's presence can act as a demand-pull for swifter adoption in underserved markets.
"Our electric future is inevitable," said Mercer. "The benefits of cleaner air and a regenerative economy belong to all of us. Volta's charging network is built to deliver those benefits no matter where you live, work, or play."
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Registration Statement on Form S-1, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Media / Press:
Jette Speights
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Investor / Analyst:
Katherine Bailon
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DUBLIN--(BUSINESS WIRE)--The "United States Submarine Power Cable Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.
The country research report on the United States submarine power cable market is a customer intelligence and competitive study of the the United States market. Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the United States market.
Also, factors that are driving and restraining the submarine power cable market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market.
Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of submarine power cable market in the United States.
Highlights of the Report
The report provides detailed insights into:
1) Demand and supply conditions of submarine power cable market
2) Factor affecting the submarine power cable market in the short run and the long run
3) The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, and technological factors
4) Key trends and future prospects
5) Leading companies operating in submarine power cable market and their competitive position in the United States
6) The dealers/distributors profiles provide basic information of top 10 dealers & distributors operating in (United States) submarine power cable market
7) Matrix: to position the product types
8) Market estimates up to 2027
The report answers questions such as:
1) What is the market size of submarine power cable market in the United States?
2) What are the factors that affect the growth in submarine power cable market over the forecast period?
3) What is the competitive position in the United States submarine power cable market?
4) What are the opportunities in the United States submarine power cable market?
5) What are the modes of entering the United States submarine power cable market?
Key Topics Covered:
1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for the United States Submarine Power Cable Market
3.5. Growth Matrix Analysis
3.6. Competitive Landscape in the United States Submarine Power Cable Market
4. United States Submarine Power Cable Market by Type
4.1. Single-core
4.2. Multicore
5. Submarine Power Cable Market by Voltage
5.1. Medium Voltage
5.2. High Voltage
6. United States Submarine Power Cable Market by Conductor Material
6.1. Copper
6.2. Aluminum
7. United States Submarine Power Cable Market by End User
7.1. Offshore Wind Power Generation
7.2. Inter-country and Island Connection
7.3. Offshore Oil & Gas
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/91g5gu
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Cryopumps Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global cryopumps market is projected to grow at a CAGR of 2.47% during the forecast period to reach US$1.282 billion by 2026, from US$1.081 billion in 2019.
Robust growth in Energy and Power Industry is expected to drive exponential demand for cryopumps during the forecasted period.
Based on the end-user industry, the global cryopump market is segmented into metallurgy, electronics, energy and power, and others. The energy and power industry is calculated to hold a significant share in the cryopump market and drive demand at an exponential rate during the forecasted period. Robust growth in the segment is projected to support the market growth. Energy and Power is a booming industry with rising demand and high investment by both government and private individuals. Moreover, the rise in renewable energy projects is expected to create substantial growth prospects for the market. The global installed capacity of renewable energy has increased from 4,197 terawatt-hours in 2010 to 7,444 terawatt-hours in 2020.
Furthermore, several upcoming projects in 2021 are expected to widen the market scope, providing stable growth. Wudongde Hydropower Station in China, for instance, is a US$15.4 billion project which is scheduled to be completed by December 2021. Inga 3 in the Democratic Republic of Congo, a US$14 billion project announced by the government in December 2019 can increase the country's capacity to generate hydro energy by 11,000 MW and will be a significant contributor.
Asia Pacific, Middle East, and Africa regions are expected to hold a dominating share of the market and are calculated to grow at the fastest rate during the study period.
Based on geography, the global cryopump market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific region. The Middle East and Africa cryopump market is predicted to grow at a significant rate owing to rising renewable energy projects. Similarly, in the Asia Pacific region, the booming growth of energy, especially renewable energy projects are predicted to provide robust growth potentials. Furthermore, in the Asia Pacific region, mushrooming growth of the electronics manufacturing industry is expected to create a promising and lucrative market for the cryopumps industry. India, China, Vietnam, and South Korea are emerging as electronics manufacturing hubs and are attracting significant investment.
COVID-19 Insights
The coronavirus pandemic moderately impacted the market. Owing to nationwide lockdown and halt in operations, construction and reconstruction projects were delayed, which reduced the demand for cryopumps. A halt in production across electronic and other industries also impacted the market growth. However, with economic recovery and the sanction of new projects in 2021, demand is anticipated to revive at a significant rate.
Key Developments:
Key Market Segments
By Functionality
By Gas Type
By Type
By End-User Industry
By Geography
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/uko9bi
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of December 2021. Unitholders of record on December 31, 2021 will receive distributions amounting to $0.129845651 per unit, payable on January 31, 2022. The Trust received $277,472, all of which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company. No income was received in December 2021 from any other working interest owner. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $241,979.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, unitholders may not receive any material distributions beyond 2021, because the Trust intends to increase cash reserves from $1.0 million to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2020, Form 10-Q for the quarter ended March 31, 2021, Form 10-Q for the quarter ended June 30, 2021 and Form 10-Q for the quarter ended September 30, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx
DUBLIN--(BUSINESS WIRE)--The "Marine Battery Market by Battery Type (Lithium, Nickel Cadmium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Ship Type, Sales Channel, Nominal Capacity, Battery Design, Battery Function, & Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Marine Battery Market size is projected to grow from USD 374 Million in 2021 to USD 1,897 Million by 2030, at a CAGR of 19.8% from 2021 to 2030.
The market is driven by various factors, such as rise in conversion of propulsion system in passenger vessel, Increasing sea borne trade across globe and growing maritime tourism industry.
With increasing operation in the commercial maritime sector across various countries spread across different region along with the rising demand of commercial vessels will drive the demand for Marine Battery Market. Commercial vessels are turning out to be an integral part of the electric ship industry with countries such as US, China, Norway, Greece and others are investing heavily in operations related to commercial electric shipping industry.
Whereas in the commercial marine industry companies such as Wartsila, Siemens, and others are working on building more efficient propulsion system for commercial vessels in order to increase the operational capacity of different types of commercial vessels.
The Marine Battery Market includes major players such Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanche SA (Switzerland).
These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected electric ship production and services globally in 2020.
The Lithium battery segment is projected to witness the highest CAGR during the forecast period
Based on the battery type the lithium battery operated vessels are projected to grow at the highest CAGR rate for the Marine Battery Market during the forecast period. With the increasing demand for commercial vessels across regions throughout the industry the demand for battery operated vessels is also increasing. A battery operated vessel helps in giving a more eco friendly solution to maritime operations along with more efficiency and reliability.
Commercial vessels are projected to witness the highest CAGR during the forecast period
Based on ship type, the commercial vessels segment is projected to grow at the highest CAGR rate for the Marine Battery Market during the forecast period. Commercial vessels are as varied as the jobs they are required to do. Different type of commercial vessels according to the purpose they serve are passenger vessels, cargo vessels, and others. Further, passenger vessels is segmented into yachts, ferries, cruise and others. Under which the passenger and cargo vessels will be seeing the maximum growth as these are the short ranged vessels which require less power to operate efficiently.
75-150KW are projected to witness the highest CAGR during the forecast period
Based on power, the 75-150KW power is projected to grow at the highest CAGR for the Marine Battery Market during the forecast period. Medium-size passenger ferries are considered under ships having power between 76-150 kW. The need for a reduced, or zero-emission transport system across countries is high. Countries such as Japan, New Zealand, and Australia are also moving toward using fully electric ferries for passenger transport. Norway has incorporated fully electric, and hybrid technology in its ferries.
The European market is projected to contribute the largest share from 2021 to 2030
Europe is projected to be the largest regional share of the Marine Battery Market during the forecast period. The key factor responsible for Europe, leading the Marine Battery Market owing to the rapid growth of the technologically advanced electric ships in the region. In Europe, the rise in manufacturing industries and growing commercial and defence maritime industry is encouraging manufacturers of electric ships to introduce technologically advanced and efficient products across various vessel type.
The increasing demand for electric ship and the presence of some of the leading players operating in the market, such as Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanche SA (Switzerland).
These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing electric ship.
Premium Insights
Market Overview
Milestones of Implementation Plan for Electrification in Marine Transport (2025-2035-2050)
Drivers
Restraints
Opportunities
Challenges
Case Study Analysis
Emerging Trends
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/azk39x
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Report features the company's plan to end the use of coal and efforts to achieve net-zero carbon electricity.
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE) has published its Annual Corporate Responsibility and Sustainability Report detailing its environmental commitment and progress toward the company's goal of net-zero carbon electricity by 2050. The report covers the company's commitment to diversity, equity and inclusion; clean energy investments; plans to end the use of coal; and partnerships to advance energy efficiency, sustainability and the electrification of transportation.
"MGE is committed to building a more sustainable energy future for the benefit of our customers, investors and the broader community," said Chairman, President and CEO Jeff Keebler. "By working with customers to grow our use of clean energy, advance energy efficiency and electrify transportation, we can meet our goal of net-zero carbon by 2050. If we can go further faster through the use of new technologies and partnerships with our customers and communities, we will."
Report highlights
The 2021 report features information about MGE's corporate strategy and climate-related matters; safety and operations; metrics and targets; customer and employee engagement; risk management; and governance and oversight. Highlights include:
Commitment to transparency and disclosure
MGE's report is consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). MGE is committed to helping customers, investors and other stakeholders better understand the company's long-term strategies, challenges and opportunities as it transitions to a more sustainable, net-zero carbon future.
MGE also continues to participate in the Edison Electric Institute's (EEI) environmental, social, governance (ESG) and sustainability reporting templates. EEI, which represents all U.S. investor-owned electric companies, developed the voluntary, industry-specific templates to provide more uniform and consistent reporting of data and information from the electric sector. The templates include data related to MGE's portfolio (generation and capacity), emissions, capital expenditures, human and natural resources, and other matters.
About MGE
MGE generates and distributes electricity to 157,000 customers in Dane County, Wisconsin, 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.
Kaya Freiman
Corporate Communications Manager
608-252-7276 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Energy-saving tips also available to help customers safely prepare their homes for cold-weather season
CHICAGO--(BUSINESS WIRE)--ComEd customers saved a total of more than $6 billion on their energy bills as a result of the company’s energy efficiency program that launched in 2008. The ComEd Energy Efficiency Program is one of the largest programs in the nation offering residents, businesses and the public sector a variety of options that help them cut back on their energy use, which reduces energy bills and helps the environment.
Since 2008, the program helped customers save enough energy to power more than 6.5 million homes for one year, the equivalent of removing more than 6 million cars off the road for one year and reducing over 61 billion pounds of carbon emissions that contribute to climate change into the air.
“ComEd remains committed to safely delivering the clean, reliable and affordable energy our families, communities and businesses depend on to power their lives,” said Erica Borggren, vice president of customer solutions at ComEd. “For over 13 years, our energy efficiency offerings have empowered residential and business customers to take control of their energy use, while helping hard-working families – many facing economic hardships – to reduce their electric bills and save money.”
For more information on the ComEd Energy Efficiency Program and to enroll, visit ComEd.com/HomeSavings for residential customers and ComEd.com/BizSavings for business customers.
ComEd also offers the following energy-saving tips to help customers safely prepare their homes for winter weather, manage their energy use and reduce their electricity bills.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.025000 per unit, payable on January 14, 2022 to unitholders of record on December 31, 2021. The net profits interest calculation represents reported oil production for the month of September 2021 and reported natural gas production during August 2021. The calculation includes accrued costs incurred in October 2021.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
40,878 |
|
1,363 |
|
280,503 |
|
9,048 |
|
$ |
68.90 |
|
$ |
3.78 |
Prior Month |
|
43,832 |
|
1,414 |
|
263,613 |
|
8,504 |
|
$ |
67.71 |
|
$ |
3.62 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $2.8 million for the current month on realized wellhead prices of $68.90/Bbl, down $0.1 million from the prior month distribution period.
Recorded natural gas cash receipts from the Underlying Properties totaled $1.1 million for the current month on realized wellhead prices of $3.78/Mcf, up $0.2 million from the prior month distribution period.
Total accrued operating expenses for the period were $2.5 million, an increase of $0.1 million from the prior period. Capital expenditures increased $0.1 million from the prior period to $0.2 million.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from COERT Holdings 1 LLC (the “Sponsor”) with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the actions taken by Russia and the members of the Organization of Petroleum Exporting Countries regarding production levels. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2020 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 23, 2021. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
GONZALES, La.--(BUSINESS WIRE)--Specialty Welding and Turnarounds, LLC (SWAT), a leading provider of highly technical maintenance services to the chemical, refinery, renewable, and industrial markets, announced today the acquisition of Midwest Cooling Tower Services (MWCTS or Midwest) from Dorilton Capital. Headquartered in Krotz Springs, Louisiana, and with operations across the U.S., Midwest is a leading provider of mission-critical cooling tower solutions, including inspection, maintenance and repair, specialty distribution, and rental.
“Midwest has been a leading provider of cooling tower services for decades with a strong reputation for excellent inspection and maintenance execution. Along with its critical components inventory and cooling towers rental fleet, the company is well-differentiated as a key player in the industry,” said Marcus Deal, CEO of SWAT. “With this acquisition, we will now be able to provide high-quality cooling tower services as a core part of our offering. We are excited to extend SWAT’s technical capabilities into this attractive market by supporting Midwest’s exceptional management and operations team.”
On a combined basis, SWAT will employ over 2,100 people. The combined entity will have a long-standing blue-chip customer base across the U.S.
“As we sought out a new partner for our next chapter, we felt SWAT strongly aligned with our values, including our shared focus on safety, customer service and employee engagement,” said Danny Wiltz, President of Midwest. “We have a lot of pride in what Midwest has grown to. The company was started by our father nearly 35 years ago, so it was important for us to find a partner who was focused on our future and also appreciates our history,” added Paul Wiltz, Vice President of Midwest. At the close of the transaction, Danny Wiltz and Paul Wiltz will continue to lead the business under the SWAT platform.
“Midwest is a great fit with the broader offering of SWAT’s existing industrial maintenance service lines provided by an outstanding workforce of highly trained and experienced specialists,” said Craig Kahler, Managing Director of ORIX Capital Partners, whose managed fund acquired SWAT in January 2020 in partnership with Hastings Equity Partners and the SWAT management team. “This acquisition supports our strategic growth plan to expand technical industrial maintenance capabilities across a diversified customer base, while assisting leading industrial companies maintain safe, compliant and efficient facilities.”
Kirkland & Ellis LLP served as legal counsel to ORIX Capital Partners and SWAT on this transaction. Jones Day served as legal counsel and Stifel served as financial advisor to Midwest. Financial terms of the transaction were not disclosed.
Specialty Welding and Turnarounds
Founded in 2014, SWAT has evolved into an elite and trusted provider of highly specialized turnaround services with an industry-leading safety record, superior execution capabilities, and a wide range of specialty welding and mechanical service offerings. The company currently has master service agreements with more than 50 U.S. facilities, including some of the world’s largest oil refineries, and maintains multiple touchpoints across its key customer relationships. SWAT has a diverse geographic presence with offices in Louisiana, Texas, and California, a coverage area spanning more than 14 states and a nationwide craft labor database of over 4,000 highly experienced professionals.
Midwest Cooling Tower Services
Founded in 1984, MWCTS is a leading provider of inspection, repair and rental services for cooling towers. Based in Krotz Springs, LA, Midwest services leading chemical, refinery, agriculture, and other industrial customers across the U.S. It also supplies components to over 85 other cooling tower companies and contractors in the U.S. and more than 110 partners around the world. Midwest has a dedicated workforce of approximately 450 employees.
ORIX Capital Partners
ORIX Capital Partners (OCP), the operationally-focused private equity team of ORIX Advisers, LLC and a wholly-owned subsidiary of ORIX Corporation USA (ORIX USA), manages a fund that seeks to make direct equity investments in established middle-market companies throughout North America, spanning a variety of industries, including industrial services, business services, and general industrials.
Hastings Equity Partners
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market industrial service and business services segments. Hastings' approach is to leverage the firm's managers and investors' extensive operational experience, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of industrial service and business service companies, it is able to share best practices, technology trends, and contacts across its platform to ensure that all of its investments benefit.
Dorilton Capital
Dorilton is a private investment firm that invests in businesses across a range of industry sectors, working in partnership with management to grow value over the long-term. By providing funding and expertise to drive growth, Dorilton helps its companies and its people achieve their full potential. To learn more visit www.DoriltonGroup.com
Rohini Pragasam, Head of Communications & Marketing
ORIX Corporation USA
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DUBLIN--(BUSINESS WIRE)--The "North America Nuclear Waste Management System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Waste Type, Reactor Type, and Disposal Options" report has been added to ResearchAndMarkets.com's offering.
According to the research study, the market is expected to reach US$ 5,447.63 million by 2028 from US$ 4,473.37 million in 2021. The market is estimated to grow at a CAGR of 2.9% from 2021 to 2028.
Rising deployment of nuclear power plants is the major factor driving the growth of the North America nuclear waste management system market. However, issues associated with nuclear waste management system being expensive hinders the growth of North America nuclear waste management system market.
Segment Insights
The North America nuclear waste management system market is segmented on the bases of waste type, reactor type, disposal options, and country.
North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly attributed to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region.
Presently, the US is the world's worst-affected country due to the COVID-19 outbreak pandemic. The nuclear waste management industry's reliance on manufacturing industry, such as companies using nuclear reactors and electricity produced from them, has been highlighted by the recent pause in manufacturing units due to the pandemic.
Several industries, such as healthcare and research facilities, saw a sharp drop in waste generation during the early stages of the pandemic, when factories and offices were partially or entirely closed. As a result, the expansion of the North American nuclear waste management system market was hampered.
In the US, there are 60 nuclear plants with around 98 nuclear reactors, officials have suggested isolating or quarantining critical nuclear power plant (NPP) specialists and allowing them to live on-site to reduce their closeness to others if this is required. The overall demand for nuclear waste management system is likely to increase once the industries attain normal operational conditions as these systems are much needed because of the rise in nuclear waste.
Competitive Insights
Ansaldo Energia S.p.A.; Bechtel Corporation; BHI Energy; Energysolutions; Perma-Fix; US Ecology, Inc.; Veolia; and Waste Control Specialists LLC are among the leading companies in the North America nuclear waste management system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
For instance, in 2020, Veolia's Veolia North America has signed an agreement to occupy Alcoa USA Corporation's Hazardous Waste Treatment Site. With this strategy, the company continues the worldwide growth of its hazardous waste treatment and recycling activity and adds a flagship site to its existing portfolio.
Companies Profiled
Market Dynamics
For more information about this report visit https://www.researchandmarkets.com/r/xwm3xe
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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OSAKA, Japan--(BUSINESS WIRE)--Osaka Gas Co., Ltd. (“Osaka Gas”) today announced its participation in the City Gas Distribution (CGD) business in India through its wholly-owned subsidiary Osaka Gas Singapore Pte., Ltd. (“OGS”) by investing in AG&P CGD HoldCo SPV3 (Singapore) Pte., Ltd. (“AG&P SPV3”), together with Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (“JOIN”). AG&P City Gas is developing the 12 CGD geographical areas it was awarded in South India and Rajasthan. Osaka Gas is the first Japanese company to participate in the CGD sector in India through this investment.
As a successful bidder for the city gas development projects supported by the Government of India, AG&P City Gas obtained exclusive gas sales rights and infrastructure ownership rights (“exclusive rights”) in India for a fixed period of time for its 12 concessions. India promotes greater use of natural gas1 through the development of city gas infrastructure that supports the wider use of compressed natural gas vehicles (“CNG vehicles2”) in response to the increasing energy demand and a need to reduce carbon emissions and air pollution resulting from economic growth in the country.
This city gas venture has been developed by the AG&P Group led by AGP International Holdings Pte., Ltd. (“AGPIH”), AG&P SPV3’s parent company, in which Osaka Gas also invests in3. With exclusive rights for a vast swath of southern India, roughly equivalent to ¾ the area of Japan, the venture aims to develop into a business in a scale of 3.5 billion m3 in gas sales volume, which is approximately half of Osaka Gas’ city gas sales volume in Japan4. The venture also plans to promote city gas demand for CNG vehicles as well as for household, commercial, and industrial uses, and utilize LNG lorries as one of the main gas supply system, which is introduced for the first time to India, to reduce the time for the development and roll-out of the city gas infrastructure.
AG&P CGD, the operator of this city gas business, is jointly owned by AGPIH, the leading downstream LNG platform and infrastructure development company, is rapidly expanding its business in new and emerging demand centers in Southeast Asia and India, I Squared Capital Advisors, LLC. (“ISQ”), a US infrastructure investment fund with a successful track record for projects in India, JOIN, a public-private fund supporting Japanese businesses for developing infrastructure projects overseas with their knowledge, technology, and experience accumulated in Japan, and Osaka Gas, which is dispatching its members to provide support to the venture for engineering solutions and commercial know-how of a city gas business.
Osaka Gas has been expanding its business of gas distribution, gas sales to industrial customers, energy services, rooftop solar power generation in Southeast Asia. Following the investment in AGPIH and the Collaboration Agreement signed with AGPIH in 2019, Osaka Gas has been building a natural gas value chain that includes LNG receiving terminal, power plant, and LNG supply businesses in emerging LNG markets in the region. Osaka Gas aims to develop this city gas venture in India into one of its core businesses in Asia and to contribute to carbon emissions reduction and stable energy supply in India.
1In December 2019, the Indian government announced a goal of increasing the percentage of natural gas as a primary energy source from 6% in 2019 to 15% by 2030.
2More than 4 million CNG vehicles were registered in India as of FY2020 (cf. just under 50,000 in Japan).
3As announced in Osaka Gas Co., Ltd.: Investments and a Conclusion of Collaboration Agreement with AGP International Holdings Pte. Ltd., as Development of Natural Gas Infrastructure Proceeds.
（https://www.osakagas.co.jp/en/whatsnew/__icsFiles/afieldfile/2019/09/18/190722.pdf）
4Osaka Gas’ city gas sales volume (45MJ/m3) on a non-consolidated basis for FY2020 was 7.121 billion m3.
1. Venture Overview |
|
Company |
AG&P LNG CGD HoldCo Pte., Ltd. (AG&P CGD Company) |
Address |
65 Chulia Street, #47-04 OCBC Centre, Singapore 049513 |
Date Established |
October 2017 |
Shareholders |
ISQ Asia Midstream Investment Pte., Ltd. (ISQ Asia), AG&P SPV35 |
Business Overview |
Natural gas transport, receiving, storage, distribution, sales, and demand development for an area centered in southern India (12 GAs6)7 |
5 The shareholders for AG&P SPV3 are AGP IH, OGS (expected to invest a maximum of USD65 million), and JOIN.
|
|
2. Company Overview |
|
OGS |
|
Company Name |
Osaka Gas Singapore Pte., Ltd. |
Date Established |
March 2013 |
Address |
182 Cecil Street, #30-02 Frasers Towers, Singapore 069547 |
Representative |
Motoyuki Hirabayashi |
Business Description |
Assessments, development, and investment specific to energy-related businesses, as well as the management and operation of group companies in Southeast Asia and South Asia |
JOIN |
|
Company Name |
Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development |
Date Established |
October 2014 |
Address |
2-2-3 Marunouchi, Chiyoda Ward, Tokyo Metropolitan District |
Representative |
Tatsuhiko Takesada |
Business Description |
Investment support for Japanese companies involved in overseas infrastructure business projects |
AG&P SPV3 |
|
Company Name |
AG&P CGD HoldCO SPV3 (Singapore) Pte., Ltd. |
Date Established |
April 2021 |
Address |
8 Marina View, #13-02A Asia Square Tower 1, Singapore 018960 |
Business Description |
Holding company for city gas operating companies |
ISQ |
|
Company Name |
I Squared Capital Advisors (US), LLC |
Date Established |
April 2012 |
Address |
Delaware, United States |
Business Description |
Global infrastructure fund focusing on energy, utilities, telecom and transport |
Direct Business Wire inquiries to:
Energy Resources and International Business Unit.,
Asia Energy Business Dept.,
Osaka Gas Co., Ltd.
Telephone: +81-6-6205-4564
HOUSTON--(BUSINESS WIRE)--#DNOW--NOW Inc. (NYSE:DNOW) announced today that it has entered into an amendment (the “First Amendment”) to the existing senior secured credit facility with a syndicate of lenders, with Wells Fargo Bank, National Association serving as the administrative agent (as amended, the “Credit Agreement”).
The First Amendment amends certain terms, provisions and covenants of the Credit Agreement, including, among other things: (i) extends the maturity date under the Credit Agreement to December 14, 2026; (ii) provides for a five-year $500 million global revolving credit facility, with potential to further increase the credit facility to $750 million; (iii) increases availability under the Credit Agreement by expanding the borrowing base definition to include certain pledged cash deposits of the Borrowers; and (iv) decreases by 0.250% the applicable rate for borrowings of base rate loans and Eurocurrency rate loans when the Fixed Charge Coverage Ratio (as defined in the Credit Agreement) is less than or equal to 1.50 to 1.00.
David Cherechinsky, President and Chief Executive Officer of NOW Inc., stated, "I am pleased that we have completed the amended credit facility which extends our agreement through December 2026 and provides cost savings and improved terms. Working capital efficiencies converted our inventory and receivables into record cash levels. Under the updated credit facility, including the accordion feature, we maintain a considerable runway for growth with the potential to triple our reported third quarter credit facility availability of $248 million. We are appreciative of our bank group’s support and continued commitment to DNOW. The amended credit facility along with our strong cash position and debt-free balance sheet provide significant strategic flexibility and capital for continued growth."
Additional information regarding the First Amendment can be found on a Form 8-K to be filed with the Securities and Exchange Commission.
About NOW Inc.
NOW Inc. is one of the largest distributors to energy and industrial markets on a worldwide basis, with a legacy of over 150 years. NOW Inc. operates primarily under the DistributionNOW and DNOW brands. Through its network of approximately 195 locations and 2,400 employees worldwide, NOW Inc. offers a comprehensive line of products and solutions for the upstream, midstream and downstream energy and industrial sectors. Our locations provide products and solutions to exploration and production companies, energy transportation companies, refineries, chemical companies, utilities, manufacturers and engineering and construction companies.
Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to documents filed by NOW Inc. with the U.S. Securities and Exchange Commission, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.
Mark Johnson
Senior Vice President and Chief Financial Officer
(281) 823-4754
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