DUBLIN--(BUSINESS WIRE)--The "Gas Separation Membranes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Gas Separation Membranes Market to Reach US$1.1 Billion by the Year 2026
The global market for gas separation membranes is anticipated to receive a notable impetus from increasing adoption of the technology across an extensive spectrum of industries coupled with rising biogas production. Traditional separation technologies` negative impact on the environment and high energy costs are anticipated to spur demand for gas separation membranes in different applications.
Demand for these membranes is also on the rise due to the lower maintenance and operational costs of this gas separation process. Stringent regulations related to greenhouse gas emissions and increasing demand from natural gas treatment, hydrocarbon separation, hydrogen purification and carbon dioxide captures are stimulating the market growth.
Increasing biogas production across developing countries, particularly in Asia and Latin America, along with cost-efficiency of the technique is further favoring the market growth. The presence of numerous reservoirs across South East Asian nations and rising production of shale gas across North America are set to fuel global demand for gas separation membranes.
The technology is widely employed in the oil & gas and chemical industries to remove volatile organic compounds from the waste stream, natural gas dehydration, and separation of air into nitrogen and oxygen. In addition, consumer demand for green, organic fuels is benefitting the technology.
Amid the COVID-19 crisis, the global market for Gas Separation Membranes estimated at US$822.1 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 5.6% over the analysis period 2020-2027.
Polyimide & Polyaramide, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$583.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polysulfone segment is readjusted to a revised 5.1% CAGR for the next 7-year period.
This segment currently accounts for a 25.5% share of the global Gas Separation Membranes market. Polyimide and polyaramide has been widely employed in membrane production for separation of gas, especially for natural gas upgradation and extraction of CO2 from industrial off-gases.
Owing to low production cost and easy fraction, it is generally used in CO2 recovery during natural gas sweetening, separation of nitrogen and oxygen from air, and oil recovery.
Cellulose Acetate Segment to Reach $219.2 Million by 2026
Made of different polymers including cellulose acetate, gas separation membranes find use in carbon dioxide removal, hydrogen recovery, oxygen enrichment and nitrogen generation applications.
In H2S separation process, cellulose acetate is one of the most widely material in membrane separation processes. In the global Cellulose Acetate segment, USA, Canada, Japan, China and Europe will drive the 4.74% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$106.6 Million in the year 2020 will reach a projected size of US$151 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$31 Million by the year 2026, while Latin America will expand at a 6.2% CAGR through the analysis period.
The U.S. Market is Estimated at $171.2 Million in 2021, While China is Forecast to Reach $227.9 Million by 2026
The Gas Separation Membranes market in the U.S. is estimated at US$171.2 Million in the year 2021. The country currently accounts for a 20.13% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$227.9 Million in the year 2026 trailing a CAGR of 7.5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$245.2 Million by the end of the analysis period.
Asia-Pacific represents key regional market for gas separation membrane. Growth in the region is benefitting from increasing population, rapid urbanization and industrialization, rising international trade and infrastructure development in countries like Japan, China and India. Rising focus on CO2 removal and growing biogas demand in countries such as Indonesia, China, India, and South Korea are expected to stimulate market growth.
European region benefits from extensive use of these membranes to separate acid gases in natural gas processing facilities. The gas separation membrane technology is expected to find increasing use in medical and pharmaceutical applications, environmental issues and growth of the end-use industries.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 47 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/k7cvb8
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Intelis Smart Gas Meter Brings Enhanced Safety and Operational Savings for the Delivery of Natural Gas in Canada
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#Itron--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that its Intelis residential ultrasonic gas meter has received type approval from Measurement Canada, which confirms that it complies with PS-G-06 provisional specification for ultrasonic meters in Canada. As this is the first ultrasonic gas meter with an internal shutoff value to be approved by Measurement Canada, utilities can take advantage of Itron’s solution to transform how gas is delivered safely and efficiently.
With Itron’s Intelis smart gas meter, utilities can extend intelligence to the edge of the gas communications network. Utilities and cities can now take advantage of the smart capabilities of the Intelis gas meter, including a built-in automatic shutoff valve, to enhance customer and employee safety and improve operational savings.
With millions of Intelis gas meters contracted in North America, this proven meter is the most compact and lightweight 250 class gas meter on the market and offers self-monitoring shutoff capabilities benefiting both the homeowner and utility. The meter can be configured to shutoff automatically in the event of a high flow or high temperature incident, using local intelligence to minimize the risk of a gas explosion. Alarms can be brought back to the utility through network or mobile meter reading. Independent of reading topology, the smart meter can shut itself off without utility intervention.
“Open fuel lines caused from natural disasters, human error or malicious intent pose a threat to utility infrastructure. To prepare for the unexpected, utilities and cities can benefit from the enhanced gas safety measures found in Itron’s Intelis gas meter,” said John Marcolini, senior vice president of Networked Solutions at Itron. “With Measurement Canada approval, utilities can now deploy and rely upon the Intelis gas meter to automatically shutoff within seconds of incident detection, regardless of utility involvement or network connectivity. Additionally, utilities operating under a network have the added benefit of being able to remotely shutoff the valve in the event of an emergency. We are thrilled that the Intelis gas meter is the first residential ultrasonic meter with a shutoff valve to be approved by Measurement Canada.”
To learn more about Itron’s Intelis gas meter and its safe and efficient capabilities, click here.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
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BURLINGTON, Ontario & TREVIGLIO, Italy--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) signed a contract to supply its industry-leading organic waste treatment solutions to Societa’ Agricola Agriferr ss di Zagni Matteo & C (Agriferr), an agricultural industry company based in Rivarolo del Re Ed Uniti, Cremona, Italy.
Anaergia will build Agriferr’s new plant using a range of proprietary systems, including the Company’s first-ever renewable natural gas liquefaction system. Anaergia will also install its Triton™ digester, biogas upgrading system, and an on-site fueling station for end users. Under the terms of this agreement, Anaergia is to build and then operate this plant for a period of four years. This facility, which is expected to produce about 2,000 tons of liquid natural gas (LNG) annually, is slated to begin operations by the end of 2022.
“This is an important milestone for both Anaergia and Agriferr,” said Alessandro Massone, Anaergia’s President of Sales for Europe, the Middle East and Africa. “This underscores Anaergia’s strong market position in Italy while it provides Agriferr with the world’s best integrated approach for producing value from agricultural wastes.”
“Italy is a European leader in the adoption of renewable energy, and an increasingly important market for Anaergia,” noted Andrew Benedek, Anaergia’s Chairman and CEO. “Furthermore, this project is especially notable because it marks Anaergia’s first sale of a system that will produce renewable LNG at a time when there is fast growing demand across Europe for this vital commodity. We expect to see follow-up demand for this integrated solution in Italy as well as in a range of other European countries.”
About Anaergia
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information please see: www.anaergia.com
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Wind and Solar Projects to Generate up to 640 Megawatts of Reliable, Clean Energy through 15-Year Agreements
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy (“Leeward”) today announced that it has entered into 15-year Renewable Energy Purchase Agreements (REPAs) with Verizon Communications (“Verizon”), through which Verizon will purchase the energy generated from four of Leeward’s wind and solar projects under development: Blackford County Wind, Horizon Solar, White Wing Ranch Solar projects, and an 80 MW wind project in development with details to come (collectively, the “Projects”).
In aggregate, the Projects will have the capacity to generate up to 640 megawatts (MW) of reliable, clean energy, which will help Verizon achieve its goal to be net zero in its operational emissions (scope 1 and 2) by 2035. Construction of all projects is expected to be completed by June 30, 2024, with each project also providing jobs and economic benefits to its surrounding community.
"Since 2019, Verizon has issued three $1 billion green bonds to support our climate strategy, including our expansive renewable energy initiatives," said James Gowen, Verizon's chief sustainability officer and senior vice president, global supply chain. "Through investments in clean energy solutions -- like these agreements with Leeward Renewable Energy -- Verizon is doing its part to green the U.S. energy grid."
The Projects will utilize wind turbines and thin-film panels from America’s industry leading renewable technology manufacturers. Leeward’s contracted solar panel supply with First Solar will enable reliable project delivery for Verizon and further positions Leeward to execute on its aggressive growth and resource diversification strategy. Together Leeward’s growth strategy and project execution reliability enhance its ability to continue delivering value-driven energy solutions to its customers.
Andrew Flanagan, Chief Development Officer at Leeward stated, “We are excited to expand our established relationship with Verizon, which speaks to Leeward’s strengths as a partner in helping our nation’s leading companies meet their sustainability goals. We are pleased to be recognized as a company that safely and successfully delivers reliable wind, solar and energy storage solutions to innovative companies across the country. We look forward to continue building on this momentum to achieve our vision of harnessing renewable energy to power the world.”
The four Projects include:
Verizon and Leeward have an existing relationship through previously signed REPAs for the 196 MW Big Plain and 100 MW Oak Trail solar projects.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy 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 and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 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.
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Sard Verbinnen & Co.
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$1M in funds will be distributed between seven programs supporting startups that are advancing the transition to a low-carbon economy
DENVER--(BUSINESS WIRE)--Today, the Wells Fargo Innovation Incubator (IN²), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), announced seven winners for its sixth cycle of Channel Partner Strategic Awards. Originally launched in 2017, the Channel Partner Strategic Awards program addresses gaps in the cleantech ecosystem and helps eliminate the barriers that startups face on the road to commercialization. For this round, winners will receive between $100,000-$175,000 for projects that help startups contribute to the circular economy, net-zero operations, electrification, sustainable agriculture and diversification of the cleantech space.
Applications were reviewed and awarded based on communicated need and the potential impact on the cleantech ecosystem. Awardees will collaborate with economic development agencies, local and state governments, foundations, universities, corporates and other key clean energy or agtech stakeholders. In addition to the Strategic Awards, Channel Partner Connector Awards totaling an additional $30,000 will be distributed to seven IN² Channel Partners to support conferences, summits and other events.
“Our Channel Partner network consists of more than 60 accelerators, incubators and universities that refer companies to the IN² program and provide mentoring and advice along the way,” said Trish Cozart, IN² program manager at NREL. “IN² de-risks investment and aims to act as a catalyst for each startup’s success. The Channel Partner Awards are a unique opportunity for the program to extend its reach and resources.”
The 2022 Channel Partner Strategic Award winners are:
“The Channel Partner Awards connect startups to a vast, diverse network of resources that can significantly impact a company’s ability to commercialize,” said Wells Fargo’s Vice President of Climate Aligned Philanthropy, John Moon. “We are committed to supporting ideas and technologies through the IN² program and awards that can deliver meaningful and equitable progress against the challenges of climate change.”
The nationwide network of IN² Channel Partners includes 63 cleantech and agtech business incubators, accelerators, universities and industry experts. Since the inception of the awards program in 2017, $6 million in competitive and non-competitive Channel Partner Awards have supported 55 Strategic Awards, 170 Ecosystem or Connector Awards and engaged all Channel Partners.
About the Wells Fargo Innovation Incubator (IN²)
The Wells Fargo Innovation Incubator (IN²) is a $50 million clean technology program funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL). IN² identifies and supports promising cleantech startups, with the goal of commercializing low-carbon solutions in order to achieve the associated social, economic, and climate benefits that are so urgently required. The program aligns creative entrepreneurial solutions with robust resources in order to reduce emissions across the economy, with a focus on minimizing the energy impact of commercial buildings, affordable residential housing, and agriculture sectors. More specifically, IN² helps early- and mid-stage clean technology startups overcome common market barriers by delivering up to $250,000 in non-dilutive funding in the form of research and development support from world-class scientists. Participants also gain access to lab facilities at NREL and the Donald Danforth Plant Science Center in St. Louis (Danforth Center), and connections to a robust, cross-industry network of foundations, investors and other stakeholders. For more information, visit www.IN²ecosystem.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo
Liz Crumpacker
Antenna Group for IN²
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Located in Plymouth, MN, USA, the new R&D center will include state-of-the-art facilities dedicated to fermentation research and development of new applications using Ingeo™PLA biopolymer.
PLYMOUTH, Minn.--(BUSINESS WIRE)--In response to rapid growth in the market for sustainable biomaterials, NatureWorks today announced their intent to open a new headquarters and advanced biopolymer research facility in Plymouth, MN. Expanded laboratory capabilities will support research into the full circular lifecycle of Ingeo™ biopolymers from next generation fermentation technology to new applications, to increased functionality.
The expanded R&D capabilities will also support the construction and operation of NatureWorks’s new fully integrated Ingeo PLA manufacturing complex located in Thailand. With an expected opening in 2024, the facility will have an annual capacity of 75,000 tons of Ingeo biopolymer and produce the full portfolio of Ingeo grades.
“In the face of these challenging times, we’ve designed a space that will enable research, invention, and collaboration between us, our partners, and the market, no matter where we are located in the world,” said Rich Altice, President & CEO of NatureWorks. “These new facilities will help accelerate the pace of research and innovation as the urgent need for real, safe solutions that help address climate and environmental challenges from plastics and chemicals continues to grow.”
The new space is designed to embody NatureWorks’s mission to create sustainable, high-performance materials by incorporating low environmental impact materials including lighting, flooring, and art made with Ingeo as well as systems for reducing water and energy usage. A robust organics recycling collection system will divert food waste away from landfills to compost with compostable food serviceware, coffee pods, and tea bags all available to visitors and employees.
Whether participating in trials in our applications lab or meeting with employees, visitors will find a redesigned experience that facilitates collaboration and showcases examples of Ingeo in applications from appliances to 3D printing, to compostable and recyclable paper coatings.
The move to the new headquarters and R&D facility located at 17400 Medina Road, Suite 800, Plymouth, MN, 55447, USA will begin in February 2022.
For more information about NatureWorks and Ingeo, visit www.natureworksllc.com, and follow NatureWorks on Twitter (@natureworks) for the latest updates.
About NatureWorks
NatureWorks is an advanced materials company offering a broad portfolio of biobased polymers and chemicals made from annually renewable resources. With performance and economics that compete with oil-based materials, naturally advanced Ingeo™ biomaterials are valued for their unique functional properties and used in products from compostable coffee capsules and food serviceware to appliances and 3D printing filament. NatureWorks is jointly owned by Thailand’s largest ASEAN leading integrated petrochemical and refining company, PTT Global Chemical, and Cargill, which provides food, agriculture, financial and industrial products and services to the world. For more information visit natureworksllc.com.
Americas & Europe
Andrea Ziadi
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Pauline Ning
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PARIS & ARNHEM, Netherlands & NEW YORK--(BUSINESS WIRE)--Allego Holding B.V. (“Allego” or “the “Company”), a leading pan-European electric vehicle charging network that recently announced a business combination with Spartan Acquisition Corp. III (“Spartan”) (NYSE: SPAQ), has secured 14 new ultra fast charging locations along major highways in Flanders, Belgium in a project co-financed by the European Union and the Flemish Agency for Roads and Traffic (Agentschap Wegen en Verkeer van de Vlaamse overheid) (“AWV”). These locations build upon two highway locations previously granted to Allego by the AWV in 2020.
These new ultra fast charging locations are located just offramp of main highways, at “park and ride” or carpool parking sites, and are well dispersed along the main transport corridors throughout Flanders. To initiate the project, Allego will construct 14 charging hubs that will provide a full range of medium charging speed to ultra fast charging to meet the demands of Flanders’ EV drivers. In the first phase, Allego expects to install 28 ultra fast charging stations and to roll out 28 AC sockets by the end of 2022. Allego expects that the second phase of the project will raise the total number of ultra fast charging stations to 56 by the middle of 2024. Allego plans to boost the customer experience in these green field sites by adding a canopy concept to the locations and ensuring that the ultra fast charging stations have excellent customer interfaces in multiple languages.
“We are very pleased to have been awarded these 14 new prime locations, supporting the expansion of our ultra fast charging network across Belgium. Expanding our network is critical in our mission to accelerate zero emission mobility. We are additionally pleased to increase our presence in Belgium, an important nation for cross-border mobility that connects the Netherlands, France, Luxembourg and Germany,” said Harold Langenberg, Managing Director of Allego Belgium. “As the market for electric vehicles continues to grow rapidly, vehicle owners require proportional scaling of charging equipment. Allego is here to provide that charging infrastructure, not only in Flanders, but also across all of Europe.”
About Allego
Allego delivers charging solutions for electric cars, motors, buses and trucks, for consumers, businesses and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprised of more than 26,000 charge points operational throughout Europe – and growing rapidly. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives us and our customers a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient and more enjoyable for all.
About Spartan Acquisition Corp. III
Spartan Acquisition Corp. III is a special purpose acquisition entity focused on the energy value-chain and was formed for the purpose of entering into a merger, amalgamation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Spartan is sponsored by Spartan Acquisition Sponsor III LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (NYSE: APO). For more information, please visit www.spartanspaciii.com.
Forward-Looking Statements.
All statements other than statements of historical facts contained in this press release (“Press Release”) are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of Allego’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Allego. These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks related to the rollout of Allego’s business strategy and the timing of expected business milestones; (iii) risks related to the consummation of the proposed business combination with Spartan being delayed or not occurring at all; (iv) risks related to political and macroeconomic uncertainty; (v) the risk that the installation of the charging stations in Flanders is delayed or does not occur at all; and (vi) the risk that Allego does not receive any additional locations from the AWV or that the benefits to Allego of the new charging locations are delayed, are less than anticipated or do not occur at all; and (vii) the impact of the global COVID-19 pandemic, including its impact on any of the foregoing risks. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego does not presently know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this Press Release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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New joint venture, Lynher Energy, will invest in large-scale green energy assets amid global net-zero journey
LONDON--(BUSINESS WIRE)--Napier Park Global Capital (“Napier Park”) and Ethical Power Group (“Ethical Power”) today announced the formation of a joint venture, Lynher Energy, that plans to invest in large-scale solar and battery storage assets in the UK and Europe. Ethical Power will act as servicer to the joint venture, including the provision of services relating to development, construction, operations and maintenance, and asset management.
The partnership intends to invest in development assets to which Ethical Power can bring its extensive experience in the design, optimisation and construction of renewable energy projects to build high-quality, valuable assets.
Ethical Power Chief Executive and Founder Tom Kneen said, “I am very excited that Ethical Power will have the opportunity to work with a partner such as Napier Park, which has an extensive record in sponsoring industry-leading joint ventures in long-lived assets and working constructively with entrepreneurial management teams such as ours in achieving shared success. This joint venture will give us a real opportunity to capitalise on the extensive experience we have gained over a decade of working in the sector. It will also allow Ethical Power to accelerate the growth of our European teams and move into new markets thus achieving our target of becoming an international renewable energy generator.”
Chris Sparrow, Principal at Napier Park, added, “We are thrilled to announce this new alliance with Ethical Power, who has deep experience in the development and construction of solar and battery assets and is an ideal partner in this program. This new venture represents a continuation of our strategy to partner with leading businesses in equipment asset classes where we see the opportunity to provide our investors with strong yields and attractive risk-adjusted returns.”
The venture will invest in assets that will form a critical part of global strategies to reduce carbon consumption and transition the world to green energy sources. There is a significant investment gap in these green energy assets that must be addressed to meet these goals. Napier Park and its Real Assets investment program are focusing significant resources to the global green energy transition and to this partnership, at a pivotal moment for the UK and European renewable energy sectors. Napier Park plans to fund the investment in the venture from its Multi-Asset Fund.
About Napier Park
Napier Park is a leading alternative asset manager with approximately $19 billion in assets under management across credit funds, CLOs and real assets, predominantly within the US and European markets. Napier Park differentiates itself through its decades of specialized credit expertise, world-class infrastructure and creativity, providing effective solutions to a broad range of institutional clients. Napier Park’s Real Assets group has deployed $7 billion in equipment assets and seeks to generate attractive returns through investments in long-lived essential use industrial and transportation equipment. The Multi-Asset Fund’s existing investments include JVs with leading industry operating partners, including Air Lease Corporation, Trinity Industries, Inc., AAR Corp. and Heritage Global Inc.
Napier Park has offices in New York, London and Switzerland. For more information visit www.napierparkglobal.com.
About Ethical Power
Ethical Power is a leader in the UK market for the financing, development, construction and maintenance of renewable energy projects. With a core competency in the provision of construction and grid connection services, it is one of the only fully integrated renewable energy businesses in the UK. Ethical Power is a subsidiary of Hive Energy, one of the largest and most successful solar power developers in Europe. For more information visit www.ethical-power.com.
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Comprehensive review of multiple industries says persistent supply chain challenges are without precedent
WASHINGTON--(BUSINESS WIRE)--The highly synchronized global supply chain system developed over the past 30 years is under strain like never before and resolving the disruption will be less a “sprint” and more of a “marathon” that runs well into 2022, according to a new report by IHS Markit, (NYSE: INFO), a world leader in critical information, analytics and solutions.
The report, entitled The Great Supply Chain Disruption: Why it Continues in 2022 provides a comprehensive review and forward-looking perspectives from leading IHS Markit experts across a broad spectrum of the global economy. The complete report is available at: https://ihsmarkit.com/Info/0122/great-supply-chain-disruption.html
“What is unfolding in supply chains globally is not only disruptive, it is also historic,” says Daniel Yergin, vice chairman, IHS Markit and editor of the report. “Moreover, the intense new focus on inflation adds to the urgency to understand what is ahead for supply chains in 2022.”
While COVID-19 has been a significant factor in driving the disruptions—with the current Omicron variant creating new uncertainties—it is not the only factor, the report says. Substantial capacity, logistical and labor challenges also exist beyond the pandemic.
“Each industry is grappling with its own set of challenges and circumstances that, combined, make up the Great Supply Chain Disruption,” says Peter Tirschwell, vice president, maritime and trade, IHS Markit and co-editor of the report. “Only by taking an integrated perspective can one truly understand the problem, and why untangling it is going to take longer than anyone would like.”
Key insights and observations from the report IHS Markit experts follow. The complete report is available at: https://ihsmarkit.com/Info/0122/great-supply-chain-disruption.html
Delivery times lengthened significantly in 2021, and January 2022 began with many companies reporting severely constrained output, input costs rising faster than at any point in the decade prior to the pandemic, and Omicron causing fresh uncertainty, Williamson writes.
“IHS Markit has been conducting surveys of purchasing managers for 30 years, and we have not seen supplier delivery times lengthen to anything similar to the degree witnessed in 2021,” says Williamson. “Going into 2022, companies reporting that output was constrained by shortages was running 3.5 times the long-run average.
“As a result of these pressures, we have been nudging our global economic growth forecast down and our inflation forecast up. The longer the pandemic keeps affecting supply chains, the weaker the growth outlook. Back in mid-2021 we were forecasting 4.5% global GDP growth for 2022. That’s now down to 4.2%, largely because inflation has become more pervasive than anticipated.
“Meanwhile, our business outlook survey for 2022 of 12,000 companies showed profit expectations to be the weakest in the pandemic so far. There are widespread fears about price hikes, supply shortages, customer resistance to high prices and an inability to pass costs on to customers after a year of sharply rising prices, damaging profit margins.”
Port congestion continues to significantly slow the circulatory movement of ships, containers and other transport assets including chassis—removing capacity, lengthening transit times and forcing shipping rates much higher, writes Tirschwell.
“As 2022 begins, the situation is not improving. We would like to be able say that we see signs of the log jam breaking. But frankly, we don’t,” says Tirschwell. “A recurring problem since the pandemic is that the system does not have time to recover before the next shock hits.
“During the 2020 lockdown, when consumer spending in the United States swung wildly from services—travel, leisure and entertainment—to home improvement, and from brick and mortar to e-commerce, the container supply chain was placed under unprecedented strain. E-commerce requires distribution centers, and distribution center capacity was nowhere near prepared. It remains unprepared today. Five to seven years of e-commerce growth has been compressed into a single year. Moreover, stimulus programs enhanced spending power. As a result, for example, U.S. import container volumes in 2021 versus 2019 were up nearly 20%—a far higher rate of growth than during the pre-COVID decade.
“Exacerbating the crisis in container supply chains is capacity. Ocean carriers and freight forwarders report that there are enough ships and containers to handle even the elevated demand. The problem is that so much of that capacity is idled or circulating more slowly. The result has been to take significant capacity off the table. Estimates are that 10-15% of capacity has been removed due to congestion.”
Global semiconductor and electrical steel shortages will continue into 2022, forcing automakers to limit production and pivot away from longtime assumptions such as lean inventories and just-in-time manufacturing, Fini writes.
“The supply chain issues in automotive are unprecedented. If the question is whether this gets fixed right away, the answer is no,” says Fini. “The recent experience of these input shortages is forcing automakers to go against everything they have done in the past 30 years when it comes to supply chain management.
“This means going against the famous ‘Toyota Way’, which was predicated upon lean supply and having as little inventory as possible. Carmakers are now considering taking on inventory for certain parts because, in relative terms, it costs peanuts to have that inventory compared with having a line stoppage, which can cost upwards of $50 million per week to an original equipment manufacturer.”
Compared with a year ago, crude oil, coal and natural gas prices are substantially higher, all owing to strong demand that has come with economic rebound. These rising prices are feeding into inflation and geopolitical risks that could cause further disruptions, which hangs over the market, Burkhard writes.
“The reason for the spot gas increases in Europe and Asia is pretty straightforward—we’ve had a strong demand push,” says Burkhard. “Third quarter 2021 demand was up about 9% globally. That’s been scraping up against production capacity, which means supply is relatively inflexible in the short term. Coal maxed out, which pushed up gas demand, and the only way to ration that supply is to see these really unanchored gas prices we’ve seen recently.
“Oil hasn’t gone up nearly as much as liquefied natural gas, but it’s still up substantially—one reason is the strong demand recovery in 2021 as we saw in so many other sectors. We’re not bumping up against spare capacity in oil as we have against LNG and coal. However, there is less spare capacity of crude oil production today—about 3 million barrels per day—compared with a year ago. If there is not significant supply growth from the United States and other sources outside of the OPEC+ agreement in 2022, then spare capacity could shrink further, which will make the oil market more crisis prone.”
Major impact on agricultural production seen from COVID-driven labor shortages in labor-intensive processes such as meat packing, as well as disruptions in containerized transportation, are driving up costs and, as in other sectors, leading to reconsideration of lean inventories and a greater emphasis on automation, Scott writes.
“The increasing tightness in labor supply means that the negotiating power is shifting even more from employers to employees,” says Scott. “As a result, if you have not been looking at automation as a solution to labor cost and availability before the pandemic, you’re going to have to look at it coming out of the pandemic.
“Another consequence is that a generation of business leaders have focused on building ‘just-in-time’ supply chains that by their nature have kept inventories minimal. That is not going to be reversed 100%, but we’re definitely encouraging our clients to think about inventory levels—and more broadly their supply chains—and what they need in terms of buffer stocks and other forms of resiliency to guard against future supply chain disruptions.”
Businesses in 2022 will be forced to pay more for labor, especially to service workers who were some of the lowest paid workers, most in danger of getting COVID and have been most hesitant to return come to work, Anton writes.
“The bottom line is if you are a business, you are going to pay more for labor in 2022. It’s that simple,” says Anton. “Labor supply issues are hitting as demand for goods remains elevated. In the United States, consumer spending on goods was up 17% in the fourth quarter of 2021 compared with the fourth quarter of 2019. Spending on durables was up 23%. Even in normal conditions employers would have to hire a lot more workers to meet demand, and with tight labor market conditions employers are finding they need to pay more to attract and retain workers.
“Another thing to consider in 2022 is inflation. Higher inflation rates are no longer transitory, nor are they limited to the United States. Rising inflation rates in the Americas and Europe will add to wage pressure. Workers are looking for an increased base to keep up with inflation, which can lead to a self-fulfilling spiral on the way up. If workers anticipate inflation, they ask for raises based on it, which makes inflation worse.”
Political decisions will play a much more significant role in supply chains in 2022 as governments seek to control strategic resources and secure competitive advantage, Wlodarczyk writes.
“There are two key strands to the longer-term challenges we see to supply chain resilience—both ultimately anchored in more systemic shifts,” says Wlodarczyk. “On the one hand, there is geopolitical risk impacting supply chains—this is really just a small slice of the challenges and disruption we see today, which is primarily about blowback from the pandemic and logistical challenges.
“But we expect to see political decisions playing a much more significant role for supply chains going forward, particularly as governments make decisions about strategic resources and how to secure their competitive advantage. Strategic minerals and components critical to energy transition are likely to be the key focus, but also a broader desire to secure advantageous trade relationships more generally to support domestic resilience. On the other hand, there is increased focus on climate risk and ESG responsibility more broadly.
“There are two dimensions: direct disruption to supply chains from climate stress and social and governance instability; and regulatory, shareholder and consumer pressure to improve sustainability credentials and protect corporate reputations.”
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.
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Anniversary marks 4 decades of industry-leading HVAC technology
ROCKLAND, Mass.--(BUSINESS WIRE)--Sometimes, things really do come full circle.
When Airxchange was founded 40 years ago, the Massachusetts-based company set out to develop a product that improved HVAC efficiency while simultaneously allowing building owners to increase ventilation. Today, in the midst of a global pandemic, that longstanding mission is more relevant than ever.
As the leading provider of energy recovery wheels – the workhorse of an energy recovery ventilator (ERV) – Airxchange has developed a range of products that make it affordable to introduce fresh outside air into a building. That four-decade long focus has garnered loads of attention in recent months as engineers, facility managers and others look for proven, cost-effective ways to improve indoor air quality.
“Now that we understand the importance of well-ventilated buildings, the only reason not to do so is cost and comfort,” said Randall Steele, president and CEO of Airxchange. “Our technology eliminates those obstacles to making fresh air affordable and comfortable. It feels good to have developed products that really do make a difference in people’s lives.”
How it started
Airxchange first came to the market in 1982 with a residential ERV, capable of reducing the cost of ventilation by 80%. Several years later they expanded, providing products for commercial, institutional and industrial customers.
The company became the leading provider of energy recovery wheels for original equipment manufacturers (OEMs) with the development of their famed polymer energy recovery wheel. As the only truly segmented option in the market, it takes up less space, is easier to maintain, clean and repair, and ultimately is more reliable than its metal counterparts.
How it’s going
As the pandemic took hold, the renewed interest in indoor air quality put new eyes on energy recovery ventilation.
For Steele, this was a double-edged sword: Until now, many people ignored the importance of air quality and the role of ventilation inside buildings. It’s unfortunate it took a pandemic to bring this to our attention – something Steele and other experts knew was significant to people’s well-being.
“I’m genuinely hopeful the recent pandemic has highlighted the importance of increased ventilation to the point where we will see a behavioral change in building ventilation design,” Steele said. “For too long it’s been secondary to other factors engineers consider when creating comfortable indoor climates for occupants.”
With an ever-expanding line of energy recovery products, Airxchange continues to grow. Today the company, which makes all its products in the U.S., has 80 employees serving customers worldwide.
“I’m proud to have helped develop a technology that has become an important contributor to energy efficient building design. But I am most proud of the team we’ve built,” Steele said. “When on more than one occasion an employee shares with me that Airxchange has been the best company they have ever worked for, I’d say it doesn’t get any better than that.”
Media contact:
Andrea Leung
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CALGARY, Alberta & HOUSTON--(BUSINESS WIRE)--#cleanenergy--Validere, a leading data analytics SaaS platform that provides commodity data transparency to the energy industry , today announced the company has completed its acquisition of Phoenix Energy Consultants (“Phoenix”). Phoenix provides Western Canadian energy producers with transportation and marketing optimization services for crude oil, natural gas, NGL, and sulfur production.
Significant inefficiencies exist in the energy supply chain because of the lack of real-time visibility into critical attributes of oil and gas commodities such as volume, quality, and emissions footprint. This is compounded by the fact that commodities change hands amongst counterparties up to eleven times from wellhead to refinery. For producers, this data gap limits their ability to execute on critical insights based on the full range of a commodity’s attributes, including emerging ESG factors like methane intensity.
Validere’s data analytics platform provides insights on the molecule that informs what it is worth and where it should go, allowing energy companies to identify higher netback opportunities. The acquisition of Phoenix supports Validere’s core strategy to reduce friction across the energy supply chain by enabling Validere to translate its data-driven insights into action for its customers.
“I got to know Validere as an early partner. The energy supply chain is changing where sellers, buyers, and stakeholders increasingly care about an entirely new array of attributes that describe the molecule, including the emissions data that Validere pulls in and connects,” said Dave Maffitt, president, Phoenix. “Validere is at the forefront of acting as a data layer for everything that concerns the market. The next step for us as a firm was to incorporate this data so we could continue to service our clients in the best way possible, as has always been our promise.”
“We’ve always respected Dave and the team's focus on the client and its ability to be fair-minded throughout the crazy cycles this industry faces. That transparent approach has allowed him to have longevity in his career that few others achieve, and we are excited to be able to more closely partner with his team going forward,” said Nouman Ahmad, co-founder and CEO, Validere. “The ability to now offer our customers support in the administrative and back-office functions that may be needed to activate the critical insights that we validate and predict was a natural step.”
Phoenix will become a wholly owned subsidiary of Validere. Existing Phoenix clients will continue to receive the same services without interruption or change, in addition to accessing additional resources and insights from Validere to improve operations and track and reduce emissions.
This transaction, and all future transactions, align with Validere’s approach of never owning physical assets or commodities, so its independence as a data analytics platform for the entire energy supply chain is maintained.
Tudor, Pickering, Holt & Co. (“TPH”) acted as exclusive financial advisor to Validere in connection with the purchase. TPH has provided Valdiere with valuable support during its journey from a technology start-up to currently servicing over 50 energy clients globally and acting as the sole data layer for ESG specific commodity trades taking place on registries in North America to date.
Additional details on the acquisition can be found here.
About Validere
Validere is a leading data and analytics SaaS provider that is digitally transforming the world’s largest supply chain to be more sustainable and efficient. Our Product Data Cloud enables energy companies to aggregate all commodity inventory data into a complete, accurate, and auditable repository that allows them to create a real-time digital fingerprint of the molecule. Using this single-source-of-trust and our digital infrastructure models, energy professionals across operations, commercial, and ESG functions can quickly make data-driven decisions daily. By partnering with us, business leaders leverage our unique datasets and our experts in data science, physical science, and oil and gas to create a company-wide value engine. As a result, more than 40 of North America’s leading energy companies now realize the total value of their commodities through higher commercial margins, reduced operational costs and risks, and meaningful ESG progress.
About Phoenix
Phoenix Energy Marketing Consultants is an intellectual capital corporation specializing in optimization of transportation and marketing of crude oil, natural gas, NGL, and sulfur production of junior and intermediate producers in Western Canada using a trusted advisor/long-term relationship and value-added model. The company was incorporated in the Province of Alberta in April 1990 to meet the growing demand for oil and gas marketing consulting services.
Its mandate is to assist small to medium-sized exploration and production companies in optimally marketing their energy (crude oil, natural gas, NGL, sulfur) production.
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Validere
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BOSTON--(BUSINESS WIRE)--Dive Technologies, Inc., a Boston-based subsea robotics designer and manufacturer, announced today a grant received from the DARPA (Defense Advanced Research Projects Agency) Embedded Entrepreneurship Initiative (EEI). This grant will propel Dive Technologies’ ability to continue to bring innovations and scalability of subsea technologies born for defense purposes to the commercial market.
The goal of the EEI is to accelerate Dive’s DARPA funded transformational innovations for dual-impact defense and commercial products and capabilities. This prestigious DARPA EEI award, in partnership with IQT EmergeTM, advances Dive’s recruitment of top entrepreneurs, funding, deep commercialization strategies, and connections for Dive’s commercial growth through Dive’s Robot-as-a-Service fleet and Autonomous Underwater Vehicle (AUV) sales.
“The technologies being developed at Dive demonstrate great utility across the defense and commercial markets,” says Simon Davidson, EVP at IQT Emerge. “We are excited to see how this collaboration will help accelerate the progression of innovative technologies, like AUVs, to market.”
In April 2021, Dive Technologies launched the DIVE-LD commercial AUV in a Robot-as-a-Service model which has been pursued and contracted by defense and commercial customers for seafloor data collection. Amongst others, the US Navy, DARPA, and other government customers have partnered with Dive to fulfill challenging seafloor data acquisition needs. The pier-launched, long range, 6,000m depth rated DIVE-LD is ideal for commercial operations including oil and gas pipeline inspections and offshore wind cable route and pre-construction surveys.
“Since the beginning, we have always been hyper-focused on delivering the most reliable, flexible, and technologically advanced AUV that could tackle the extremely challenging industry demands of seabed survey.” says Sam Russo, Co-Founder and CSO, Dive Technologies. “This grant, and the ability to work more closely with DARPA and EEI, will accelerate our ability to grow as an organization, scale our business and technology, and deliver something truly game changing to the defense and commercial markets.”
About Dive Technologies: Founded in 2018, Dive Technologies designs, develops, and deploys premier autonomous underwater vehicles for large-scale commercial and defense data collection. Utilizing deep domain expertise, Dive Technologies is building highly scalable and flexible, fastest to the sea, and best-in-class AUV platforms that combine purpose-driven technology with an intuitive architecture to help customers rapidly and efficiently collect underwater data. For more information, please visit www.divetechnologies.com.
Media Contact:
Sam Russo
Dive Technologies, Inc.
617.275.5500
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ZincFive’s BC Series UPS Battery Cabinets will make Wyoming Hyperscale the first data center of its kind to solely rely on safe & sustainable nickel-zinc batteries for backup power
PORTLAND, Ore.--(BUSINESS WIRE)--ZincFive, the world leader in nickel-zinc battery-based solutions for data centers, announced today its BC Series UPS Battery Cabinets have been specified by sustainable data center developer Wyoming Hyperscale White Box, which plans to commission its first development site in Aspen, Wyo., later this year. The data center will be the first of its kind to utilize sustainable nickel-zinc battery-based uninterruptible power supplies (UPS) as its sole source of backup energy storage, complementing its commitment to minimizing its environmental footprint.
Wyoming Hyperscale seeks to build sustainably operated data centers around the world, providing greater access to data, with less waste and greater energy efficiency. Their Aspen Mountain Hyperscale Data Center Project will manage 30MW of critical IT load in its first phase and will be the first geothermal coupled hyperscale data center in Wyoming. Steps being taken by the data center to minimize its environmental footprint include liquid cooling with zero water use, the use of renewable power and heat, and now, the utilization of the highly sustainable ZincFive nickel-zinc batteries.
“This project will showcase to the world cutting-edge technologies that can take data center sustainability to new heights,” said Wyoming Hyperscale founder Trenton Thornock. “We’re excited to take advantage of the environmental benefits provided by ZincFive’s sustainable battery solution, as well as their benefits in terms of performance, reliability and exceptional safety.”
ZincFive BC Series UPS Battery Cabinets are the first nickel-zinc battery energy storage solution with backward and forward compatibility with megawatt class UPS inverters. Nickel-zinc technology offers a smaller footprint, minimal maintenance requirements, no thermal runaway, and the higher reliability demanded for mission-critical data centers. A third party expert analysis has validated that ZincFive’s nickel-zinc batteries have a significantly lower end-to-end climate impact than lead-acid and lithium batteries.
“As the importance of sustainability in data center backup battery systems continues to grow as a requirement, Wyoming Hyperscale is leading the way by incorporating nickel-zinc batteries into their sustainability strategy,” said ZincFive CEO and Co-Founder Tim Hysell. “Our shared commitment to reducing carbon footprint and operating costs without sacrificing safety or performance is what makes our solution a great fit for all future and current data centers.”
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries, applying transformational technology and solutions that provide the power to advance the world with less harmful impacts. With more than 90 patents awarded, ZincFive leverages safe, sustainable nickel-zinc chemistry within its solutions to provide high power density and performance simultaneous with superior safety and environmental advantages. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
About Wyoming Hyperscale White Box LLC
Founded in 2020 by members of a 6th generation ranching family, the company is combining resources to sustainably satisfy parabolic demand for hyperscale data center capacity while implementing best-in-class solutions to directly address global climate change and eliminate the waste inherent in conventional datacenter designs. Wyoming Hyperscale decided to change the industry with patented and patent-pending technologies that are innovative, efficient, sustainable, and significantly less costly to build and operate.
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DUBLIN--(BUSINESS WIRE)--The "U.S. Forklift Battery Market by Type, Capacity and Application: Country Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The U.S. forklift battery market size was valued at $810.5 million in 2020, and is projected to reach $1,785.3 million by 2030, growing at a CAGR of 8.5% from 2021 to 2030.
The emergence of fuel cell forklifts as an alternative to the electric forklift along with an increase in investment toward public and private sectors to maintain the lead in the hydrogen economy is expected to drive the growth of the market in the upcoming years. Moreover, growth in the manufacturing and retail & wholesale sectors in the U.S. needs to expand space in warehouses for their product storage. Thus, for the loading, unloading, and material handling there is a need for an electric forklift, which in turn drives the forklift battery market growth in the U.S. Moreover, growth in awareness toward minimizing environmental pollution and rapid growth in green logistics is expected to create opportunities in the U.S. forklift battery market during the forecast period.
The U.S. forklift battery market is segmented into type, capacity, and application. Depending on the type, the market is categorized into lithium-ion battery, lead acid battery, fuel cell battery, and others. The fuel cell segment is further segmented into Proton Exchange Membrane Fuel Cell (PEMFC) and Direct-Methanol Fuel Cell (DMFC). On the basis of capacity, it is bifurcated into 0-600 Ahr, 600-1200 Ahr, and above 1200 Ahr. The applications covered in the study include warehouses, manufacturing, construction, retail & wholesale stores, and others
KEY MARKET SEGMENTS
By Type
By Capacity
By Application
KEY MARKET PLAYERS
Other players operating in the value chain of the U.S. forklift battery market are NITCO, American Battery Company, Power Battery Company, Inc., Dyno Battery, Inc., Union Battery Corporation, and others.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the market
3.3. Value chain analysis
3.4. Top investment pockets
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Emergence of fuel cell forklifts as an alternative to the electric forklift
3.5.1.2. Expanding warehouse spaces and the manufacturing industry
3.5.2. Restraints
3.5.2.1. High cost associated with lithium-ion battery
3.5.3. Opportunity
3.5.3.1. Growth in penetration of green logistics
3.6. Patent analysis
3.6.1. By region, 2013-2020
3.7. Impact of government rules and regulations
3.7.1. Occupational Health and Safety Act (OSHA) clauses pertinent to condition of powered forklift trucks
3.8. Impact of COVID-19 outbreak on the market
3.9. Barrier to lithium-ion battery penetration in the market
3.10. Competitive Factors of Forklift Batteries
3.11. Pricing analysis forklift batteries
3.12. Market share analysis
3.13. Distributor analysis
CHAPTER 4: U. S. FORKLIFT BATTERY MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Lithium-ion battery
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, 2020-2030 ($Million)
4.3. Lead acid battery
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, 2020-2030 ($Million)
4.4. Fuel cell battery
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, 2020-2030 ($Million)
4.4.3. Proton Exchange Membrane Fuel Cell (PEMFC)
4.4.4. Direct Methanol Fuel Cell (DMFC)
4.5. Others
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, 2020-2030 ($Million)
CHAPTER 5: U. S. FORKLIFT BATTERY MARKET, BY CAPACITY
5.1. Overview
5.1.1. Market size and forecast
5.2.0-600 Ahr
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, 2020-2030 ($Million)
5.3.600-1200 Ahr
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, 2020-2030 ($Million)
5.4. Above 1,200 Ahr
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, 2020-2030 ($Million)
CHAPTER 6: U. S. FORKLIFT BATTERY MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Warehouses
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, 2020-2030 ($Million)
6.3. Manufacturing
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, 2020-2030 ($Million)
6.4. Construction
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, 2020-2030 ($Million)
6.5. Retail & wholesale stores
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast, 2020-2030 ($Million)
6.6. Others
6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast, 2020-2030 ($Million)
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.1.1. Market player positioning, 2020
7.2. Top winning strategies
7.3. Product Mapping of Players
7.4. Competitive heatmap
7.5. Key developments
CHAPTER 8: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/fiillv
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SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it will conduct a conference call on Thursday, February 3 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the fiscal third quarter ended December 31, 2021. The financial results will be issued in a press release prior to the call.
Iteris president and CEO Joe Bergera, and CFO Douglas Groves will host the call, followed by a question and answer period.
Date: Thursday, February 3, 2022
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Toll-free dial-in number: +1 888-220-8451
International dial-in number: +1 323-794-2588
Conference ID: 8805832
If joining by phone, please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MKR Investor Relations at 1-213-277-5550.
To listen to the live webcast or view the press release, please visit the investor relations section of the Iteris website at www.iteris.com.
During the question and answer period, management will take questions live from covering sell-side analysts, as well as answer select questions submitted to the company in advance of the call. If you would like to submit a question in advance, please do so before 5 p.m. Eastern time (2 p.m. Pacific time) on February 2, 2022 by emailing Iteris investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through February 10, 2022. To access the replay dial information, please click here.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Contact
Douglas Groves
Senior Vice President and Chief Financial Officer
Tel: (949) 270-9643
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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Developed in collaboration with PEI Energy Corporation, the Slemon Park microgrid is designed to strengthen renewable energy solutions in Prince Edward Island
FRAMINGHAM, Mass. & SUMMERSIDE, Prince Edward Island--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that it has been awarded the Slemon Park Microgrid project, which it will develop in collaboration with Prince Edward Island (PEI) Energy Corporation.
The Slemon Park Microgrid will consist of a 10-MW solar facility with direct current-coupled energy storage, meaning that the co-located solar and energy storage assets will share the same interconnection. Implementation of behind-the-meter energy storage solutions, as well as a small deployment of residential energy storage systems, will benefit Slemon Park commercial businesses and local residents by storing energy for later use.
By incorporating energy storage components to better balance renewable energy generation, the microgrid will help manage peak load demands within Slemon Park and is expected to offset approximately 4500 tonnes CO2e/year over its useful life.
“The Slemon Park Microgrid project will further our goal of achieving Net Zero energy by 2030 on Prince Edward Island. With the addition of a new, clean renewable energy grid, we’ll be able to better reduce our baseline greenhouse gas emissions and create a more resilient future,” said Steven Myers, Minister of Environment, Energy and Climate Action.
Ameresco and PEI Energy Corporation will work collaboratively with the Slemon Park Corporation to utilize the park’s unique infrastructure to successfully implement the microgrid. The completed project will enhance local economic development and strengthen renewable energy solutions in Prince Edward Island.
“We are so excited to partner with PEI Energy Corporation on such an impactful project. Improving grid resiliency will enable the province of Prince Edward Island to successfully implement renewable energy projects that will help serve to protect the Island’s environment and lead to a more sustainable and economically robust future,” said Bob McCullough, President, Ameresco Canada.
Construction began in December 2021 with a target energize date scheduled for Fall 2022.
Federal funding for this project is provided by Natural Resources Canada’s Smart Grid Program, part of the Government of Canada’s Investing in Canada Infrastructure Program: Green Infrastructure stream.
To learn more about the microgrid solutions offered by Ameresco, visit www.ameresco.com/microgrid/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About PEI Energy Corporation
In Prince Edward Island, the PEI Energy Corporation is responsible “to develop and promote the development of energy systems and the generation, production, transmission and distribution of energy in all its forms on an economic and efficient basis, to provide financial assistance for the development, installation and use of energy systems, and to coordinate all government programs in the establishment and application of energy systems in the province.” The Province of Prince Edward Island has developed a North American, if not global, reputation in the development of renewable energy. PEI has always been viewed as an innovator in developing, demonstrating and deploying renewable energy systems with due regard for the environment. PEI has a strong reputation as a leader in the development of its wind resources with the highest per capita penetration of this renewable energy in its provincial electricity portfolio.
The announcement of a project award is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of September 30, 2021.
Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Project to be developed in partnership with Vlot Calf Ranch in Chowchilla, CA
SAN FRANCISCO & SAN RAMON, Calif.--(BUSINESS WIRE)--Brightmark RNG Holdings LLC – a joint venture partnership between Chevron U.S.A. Inc. and Brightmark Fund Holdings LLC, a subsidiary of the global waste solutions provider Brightmark LLC – today announced plans to construct an anaerobic digestion project at Vlot Calf Ranch in Chowchilla, California.
The Vlot anaerobic digestion project is anticipated to capture, clean, and convert methane from manure that would otherwise escape to the atmosphere on the Vlot Calf Ranch and dairy farm into renewable natural gas (RNG). When used in the transportation sector, renewable natural gas from dairy operations has a negative carbon intensity on a lifecycle basis under California’s Low Carbon Fuel Standard. The Vlot Project is Brightmark RNG Holdings LLC’s first renewable natural gas project in the state of California.
"The Vlot Project represents a major milestone for Brightmark and its RNG production efforts," said Bob Powell, founder and chief executive officer of Brightmark. "Being able to partner with Chevron and the Vlot Calf Ranch on our largest RNG project to date and first project in our home state of California represents a particular point of pride for our company and efforts.”
“As a California company, Chevron has provided the state’s residents with affordable, reliable energy for more than 140 years,” said Andy Walz, president of Americas Fuels & Lubricants for Chevron. “Developing and delivering renewable natural gas with Brightmark and the Vlot Calf Ranch, once completed, demonstrates our commitment to working across critical sectors of the state’s economy to increase the supply of fuels with a lower lifecycle carbon intensity.”
"Sustainability considerations and agriculture go hand-in-hand; one cannot exist without the other," said Case Vlot of Vlot Calf Ranch. "As farmers and livestock owners, we take pride in caring for our land and environment because we know that when we do that, it will in turn, take care of us and our animals. It is what farmers, ranchers and dairy farmers do. Innovation in agriculture is constant and ever-changing. This digester is another step in providing environmental benefits to our farm and surroundings. In this case, it's utilizing the manure from our cattle in an anaerobic digester that will help generate those benefits to continue our legacy in sustainability. We are looking forward to seeing this project completed."
The project is expected to be completed in 2023. Other renewable products generated by the project include recycled water back to the farm, biofertilizer and digested dairy fiber, which can be used as cow bedding or as a peat moss substitute.
About Brightmark
Brightmark is a global waste solutions company with a mission to reimagine waste. The company takes a holistic, closed loop, circular economy approach to tackling the planet’s most pressing environmental challenges with imagination and optimism for the future. Through the deployment of disruptive, breakthrough waste-to-energy solutions focused on plastics renewal and renewable natural gas, Brightmark enables programs specifically tailored to environmental needs in order to build scalable project solutions that have a positive impact on the world and communities in which its stakeholders live and work. For more information, visit www.brightmark.com.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Brightmark
Cory Ziskind
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t. (646) 277-1232
Chevron
Tyler Kruzich
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t. (925) 549-8686
RYE BROOK, N.Y.--(BUSINESS WIRE)--#LetsSolveWater--Global water technology company, Xylem (NYSE:XYL), announced today that almost 80 percent of its 16,000 employees volunteered their time to help solve urgent water challenges in 2021. Xylem’s global team collectively donated 113,000 hours in their communities, across 55 countries.
The commitment of volunteer hours doubled from 2020 to 2021, despite the challenges of COVID-19. Xylem employees stepped up both in person, in their own communities, and virtually, finding new ways to make a difference. Initiatives included cleaning up waterways, supporting disaster response teams, and providing water education.
"Volunteering is one way we invest in our mission to solve the world’s biggest water challenges,” said Austin Alexander, Vice President of Sustainability and Social Impact at Xylem. “Our colleagues, customers and NGO partners showed real passion, last year – doubling the number of hours they volunteered, compared with 2020. It was particularly encouraging to see this uplift in the face of COVID-19. They found so many creative ways to help communities become more resilient – mentoring young people online, championing the efforts of our NGO partners, and supporting humanitarian relief efforts. It’s just so inspiring to see the impact they’ve had.”
Xylem’s volunteering initiatives are part of its corporate social responsibility program, Xylem Watermark. Xylem provides 10 hours of time off annually for employees to volunteer, with some of the volunteers’ efforts also contributing to Xylem’s 2025 Sustainability Goals, which include: providing access to clean water and sanitation for at least 20 million people living at the base of the global economic pyramid; providing water and WASH (Water and Sanitation Hygiene) education for 15 million people; and giving 1% company profits to water-related causes and education around the world.
In 2021, Xylem Watermark volunteering included:
About Xylem
Xylem (XYL) is a leading global water technology company committed to solving critical water and infrastructure challenges with innovation. Our more than 16,000 diverse employees delivered revenue of $4.88 billion in 2020. We are creating a more sustainable world by enabling our customers to optimize water and resource management, and helping communities in more than 150 countries become water-secure. Join us at www.xylem.com.
About Xylem Watermark
Xylem Watermark, the Company’s corporate citizenship program, was initiated in 2008, with a focus on protecting and providing safe water resources around the world and also educating people on water-related issues. The global initiative, which encompasses employee and stakeholder engagement, provides access to clean drinking water and sanitation, and humanitarian emergency response to help communities become more water-secure and sustainable.
Houston Spencer, Xylem
+1.914.240.3046
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Gill Curran, Edelman
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VISTA, Calif.--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion battery packs for commercial and industrial equipment, will hold a conference call on Thursday, February 10, 2022 at 4:30 p.m. Eastern Time to discuss its results for the fiscal second quarter ended December 31, 2021. A press release detailing these results will be issued prior to the call.
Flux Power CEO Ron Dutt and CFO Chuck Scheiwe will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.
To access the call, please use the following information:
Date: |
Thursday, February 10, 2022 |
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Time: |
4:30 p.m. Eastern Time, 1:30 p.m. Pacific Time |
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Toll-free dial-in number: |
1-877-407-4018 |
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International dial-in number: |
1-201-689-8471 |
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Conference ID: |
13726247 |
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1523649&tp_key=a303c51997 and via the investor relations section of the Company's website here.
A replay of the webcast will be available after 7:30 p.m. Eastern Time through May 10, 2022.
Toll-free replay number: |
1-844-512-2921 |
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International replay number: |
1-412-317-6671 |
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Replay ID: |
13726247 |
About Flux Power Holdings, Inc.
Flux Power designs, manufactures, and sells advanced lithium-ion energy storage solutions for a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.
Forward-Looking Statements
This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of operations, financial condition and performance will not differ materially from the results of operations, financial condition and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
Follow us at:
Blog: Flux Power Blog
News Flux Power News
Twitter: @FLUXpwr
LinkedIn: Flux Power
Media & Investor Relations:
Justin Forbes
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External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
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www.mzgroup.us
ATLANTA--(BUSINESS WIRE)--Sustainable packaging leader DS Smith today announced its ambitious commitment to align its global operations to a 1.5°C scenario as set out in the Paris Climate Agreement. The roadmap to 1.5°C has been submitted for verification by the Science Based Targets initiative (SBTi)*.
DS Smith North America will participate in the acceleration of the reduction of carbon emissions for its operations, as well as those of its partners and suppliers, by committing to reducing its Scope 1, 2 and 3 Green House Gas (GHG) emissions by 46% on an absolute basis by 2030, compared to 2019 levels. These targets will keep DS Smith, which is a member of the UN’s Race to Zero initiative, in line with its prior commitment to reach Net Zero** carbon emissions by 2050.
“Today’s announcement demonstrates our ambition in reducing carbon as part of our long-term sustainability focus,” said Miles Roberts, Group Chief Executive at DS Smith. “This commitment not only ensures our business is leading the way in reducing our carbon footprint, but also guarantees we are challenging our suppliers and partners to do the same.”
“Our business has ambitious growth plans over the coming years as we lead the transition to a circular economy and these commitments are a crucial part of our Now and Next sustainability strategy which will see us create a positive impact for people and the planet both now and in the future,” said Roberts.
Investing in the future
To deliver on this commitment, DS Smith will invest consistently over the next 28 years in its own operations. Investment will be made into the adoption of next generation engineering solutions, such as biomethane boiler technology. The company will also harness self-generated renewable energy sources, such as wind and solar, and power purchasing agreements to replace grid electricity.
Working with our partners
“Now more than ever before, it is critical for businesses to demonstrate their commitments to the fight against climate change,” said Keith Ledbetter, Managing Director of DS Smith North America. “DS Smith is uniquely positioned to provide integrated circular economy solutions to its customers and today’s announcement will enable us to do that with even more impact.”
DS Smith will also engage with all its strategic suppliers to encourage them to adopt science-based targets by 2027. This follows feedback from stakeholders, who are seeking to work with like-minded businesses committed to Science Based Targets and Net Zero, alongside a commitment to the circular economy. As part of this approach, DS Smith will work closely with partners, suppliers, customers and policymakers to collectively tackle climate change through the circular economy in line with DS Smith’s ambitious goals.
Committing to Net Zero
Supporting the delivery of these commitments is an ambitious Net Zero transition plan which will set out the key strategic actions and milestones that will define DS Smith’s transition to Net Zero. The plan, which will be published this summer, is aligned with the Group’s growth strategy and outlines the initiatives that will be undertaken, prioritizing the greatest sources of GHG emissions***.
“The Foundation's report, Completing the Picture: How the Circular Economy Tackles Climate Change, shows that although the renewable energy transition is vital to tackling climate change, almost half of global GHG emissions come from the way we make and use products and food,” said Andrew Morlet, CEO of the Ellen MacArthur Foundation. “We need a circular economy — one designed to eliminate waste, circulate products and materials, and regenerate nature, to tackle those emissions and achieve the targets set out in the Paris Agreement. Today’s announcement shows that our Strategic Partner, DS Smith, is committed to ambitious action on both renewables and the circular economy.”
*The Science Based Targets initiative engages and supports companies in defining how much and how quickly they need to reduce their greenhouse gas emissions.
**The term Net Zero refers to the balance between the amount of greenhouse gas produced and taken out of the atmosphere.
*** DS Smith’s Net Zero transition plan considers future carbon costs, technology and commodity availability and cost projections. It will be periodically updated, supported by robust governance processes and regularly communicated to stakeholders.
Background on DS Smith’s carbon reduction journey to date:
About DS Smith:
DS Smith is a leading provider of sustainable fiber-based packaging worldwide, which is supported by recycling and papermaking operations. It plays a central role in the value chain across sectors including e-commerce, fast moving consumer goods and industrials. Through its purpose of ‘Redefining Packaging for a Changing World’ and its Now and Next sustainability strategy, DS Smith is committed to leading the transition to the circular economy, while delivering more circular solutions for its customers and wider society – replacing problem plastics, taking carbon out of supply chains and providing innovative recycling solutions. Its bespoke box-to-box in 14 days model, design capabilities and innovation strategy sits at the heart of this response. Headquartered in London and a member of the FTSE 100, DS Smith operates in 34 countries employing around 30,000 people and is a Strategic Partner of the Ellen MacArthur Foundation. Its history can be traced back to the box-making businesses started in the 1940s by the Smith family.
North American operations are based in Atlanta, with 15 manufacturing, paper and recycling facilities, totaling more than 2,000 employees.
DS Smith will report annually its progress across its climate targets in its Sustainability and Annual Reports.
Mindy Myrick, Head of Corporate Affairs
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Caroline Curran, Hill+Knowlton Strategies
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