DENVER--(BUSINESS WIRE)--Liberty Oilfield Services Inc. (NYSE: LBRT; “Liberty”) announced today the successful completion of the rigorous field testing of Liberty’s digiFrac™ electric pump. Developed by Liberty’s ST9 commercial equipment division, digiFrac is the industry’s first purpose-built fully integrated electric frac pump with high power density and significantly lower emissions relative to the best next generation frac technology available in the market.
Final field testing for digiFrac was completed on a three well pad with 24-hour operations for a large E&P partner in the Delaware Basin of West Texas. The digiFrac pump represented 10% of pumping capacity on location and affirmed confidence for commercial production. The system became Liberty’s preferred capacity for rate changes and adjustments with 0.1 barrel per minute micro control system ability during the completions.
The field test comes after three years of internal research and development resulting in the delivery of a state-of-the-art electric pump engineered for flexibility, from adaptable electric power sources to next generation equipment integration. The digiFrac platform will allow flexibility to incorporate electricity from central generation or the grid if available. The digiFrac pump will also anchor a fully electric frac fleet by integrating with Liberty’s existing electric wireline and backside equipment including blender, hydration, and sand handling, culminating in the industry’s first complete designed for purpose electric suite of frac technology.
“The successful development and field test of digiFrac is a milestone for the industry and reflects Liberty’s commitment to continued innovation in ESG technologies. When commercialized, digiFrac will represent the most advanced frac system available, allowing our customers to raise efficiency and control of their operations while lowering their emission profiles,” said Chris Wright, CEO of Liberty.
“Adding the digiFrac electric pump allowed for precision rate control we have not been able to accomplish before. The digiFrac pump quickly became the control center of location. This technology is going to be a game changer for future operations,” said Jesse Dees, Liberty Service Leader for Eclipse crew.
About Liberty
Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
Michael Stock
Chief Financial Officer
303-515-2851
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WASHINGTON--(BUSINESS WIRE)--Nodal Exchange announced new trading records in power and environmental futures as of end of June 2021. Nodal achieved record half year power volume for the first half of 2021 with 1.069 billion MWh traded. Nodal also set a new calendar month record for June with 175 TWh of traded power futures volume in the month. Power futures open interest also set a new record at the end of June with 1.092 Billion MWh.
Nodal's environmental futures volume grew 156% in Q2 2021 over Q2 2020 with 48,528 lots traded. Environmental futures open interest at the end of June 2021 was at 133,121 lots, up 85% from the prior year. Nodal, which is particularly strong in Renewable Energy Credits (RECs), saw volumes in Q2 across the 56 REC futures and options contracts on Nodal rise to 39,862 contracts, up 154% from 15,713 in Q2 2020 and open interest across the REC suite rise to 125,214 contracts, up 118% from 57,398 in Q2 2020.
Nodal, in collaboration with IncubEx, continues to expand its environmental offering and introduced new nitrogen oxides (NOx) futures and options and extended vintages on two Texas voluntary renewable energy certificate (REC) contracts in June, further expanding the broadest suite of environmental markets contracts in the world.
“Nodal Exchange is proud to see continued growth in our power and environmental futures markets and very much appreciates the support of our trading and clearing community,” said Paul Cusenza, Chairman and CEO of Nodal Exchange.
About Nodal
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas and environmental contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC.
Nodal Exchange Public Relations
Nicole Ricard
Phone : 703-962-9816
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.
KENNESAW, Ga. & PASADENA, Calif.--(BUSINESS WIRE)--Athena Technology Acquisition Corp. (“Athena”) (NYSE: ATHN), a special purpose acquisition company (SPAC), and Heliogen, Inc. (“Heliogen” or the “Company”), a leading provider of AI-enabled concentrated solar power, today announced that they have entered into a definitive agreement for a business combination. Following the business combination, Athena expects to be renamed “Heliogen, Inc.” and will remain listed on the New York Stock Exchange under the new ticker symbol “HLGN”.
Heliogen’s modular, AI-enabled, concentrated solar power plants have the potential to revolutionize the energy market by alleviating intermittency issues associated with renewable sources of power generation. Heliogen’s technology is designed to flatten the power generation curve by using concentrated solar power with storage to increase the availability of energy to industry. The Company’s proprietary heliostat layout and control system facilitate concentration of the sun’s rays and has the ability to generate temperatures at the point of focus that can exceed 1,000 degrees centigrade. This heat can then be captured and converted for industrial use, power generation, or to produce green hydrogen fuel, with the goal of providing near-24 hour renewable energy that could replace fossil fuels with concentrated sunlight. Heliogen is commencing the commercialization of its AI-enabled, concentrated solar power modules with internationally recognized customers in the industrial, mining, and energy sectors.
Athena, led by Chairwoman Isabelle Freidheim and CEO Phyllis Newhouse, is one of the only entirely women-led SPACs, with a diverse, all-female team of managers, advisors and investors. Athena's mission-driven management team combines extensive investment and operational expertise with a history of founding and scaling companies to positions of industry leadership. Through the Heliogen combination, Athena Chief Executive Officer Phyllis Newhouse is believed to be the first woman of color in the U.S. to take a company public through a SPAC.
Heliogen’s leadership will remain intact immediately after closing, with Bill Gross continuing as Chief Executive Officer of the combined company. Mr. Gross will work alongside Heliogen’s current executive team, including veterans of SpaceX, McKinsey & Company, Bechtel, Idealab, Deutsche Bank, and NRG Energy. Phyllis Newhouse is anticipated to join the Board of Directors of the combined company, which will include representation from both Heliogen and Athena.
“We are excited to combine with Athena to leverage our collective expertise as we execute our strategy to accelerate Heliogen’s growth and scale our groundbreaking concentrated solar technology for the global energy market,” said Bill Gross, Founder and Chief Executive Officer of Heliogen. “I have been building companies nearly my entire life, and the opportunity that Heliogen’s technology represents, to decarbonize power generation, replace other carbon-intensive sources of industrial heat, and contribute to the cost efficient production of alternative fuels such as green hydrogen, is at the head of the pack in terms of its potential to make a positive impact on society. As economies and industries worldwide continue to decarbonize, I believe Heliogen’s AI-enabled technology will play an important role in supporting and making those goals reality.”
“We very much look forward to working with Bill and the entire team at Heliogen in the pursuit of a cleaner, decarbonized world,” said Phyllis Newhouse, Chief Executive Officer of Athena. “Chairwoman Isabelle Freidheim and I co-founded Athena with a mission to work with disruptive technology companies with the potential to advance industry, and even society, through innovation. Heliogen absolutely meets that standard, not only in terms of solar-power generation, but in its ability to produce other sources of clean energy that may replace fossil fuels. The company’s pioneering use of AI and its scalable approach to project development are exciting innovations, and we couldn’t be more proud to combine with Heliogen as a publicly traded company.”
Transaction Overview
The business combination is structured as a statutory merger of Athena and Heliogen, with Heliogen surviving the merger as a wholly owned subsidiary of Athena. All of Heliogen’s stockholders are expected to rollover their equity into the combined company and to receive shares of Athena Class A common stock at closing as consideration.
The transaction is anticipated to generate gross proceeds of up to approximately $415 million of cash, assuming no redemptions by Athena’s public stockholders. The proceeds are expected to be used to scale heliostat manufacturing, to support research and development efforts on next generation heliostat technology, to support global project development, and to fund the balance sheet. These gross proceeds include investor commitments to purchase up to $165 million in shares of stock in Athena at $10.00 per share through a private investment in public equity (a “PIPE”), subject to satisfaction of customary closing conditions. Assuming no redemptions by Athena’s public stockholders and including anticipated proceeds from the PIPE, Athena estimates an initial pro forma implied enterprise value of the combined company immediately after closing of the business combination of approximately $2.0 billion.
The transaction has been unanimously approved by the boards of Heliogen and Athena. Completion of the proposed transaction is subject to customary closing conditions, including the approval of Athena’s and Heliogen’s respective stockholders and regulatory approvals, and is expected to occur in the fourth calendar quarter of 2021.
Advisors
Cohen & Company Capital Markets (a division of J.V.B. Financial Group, LLC), is serving as financial advisor to Athena. Barclays is serving as financial advisor to Heliogen. Cohen & Company Capital Markets is also serving as placement agent to Athena. DLA Piper LLP (US) is serving as legal advisor to Athena. Cooley LLP is acting as legal advisor to Heliogen.
Investor Conference Call Information
Heliogen and Athena will host a joint investor conference call to discuss the proposed transaction today, Wednesday, July 7, 2021 at 8:30AM ET.
To listen to the prepared remarks via telephone from the U.S., dial 1-877-407-9039 and an operator will assist you. International investors may listen to the call by dialing 1-201-689-8470. A telephone replay will be available by dialing 1-844-512-2921 if in the U.S, and by dialing 1-412-317-6671 from outside the U.S. The PIN for access to the replay is 13721322. The replay will be available through July 21, 2021 at 11:59PM ET.
Athena will file the investor presentation relating to the proposed transaction with the U.S. Securities and Exchange Commission (the “SEC”) as an exhibit to a Current Report on Form 8-K prior to the call, which will be available on the SEC’s website at www.sec.gov. All materials can also be found at https://www.athena1.com.
About Heliogen
Heliogen is a renewable energy technology company focused on empowering a sustainable future by eliminating the need for fossil fuels in all sectors of the economy. The company’s Sunlight Refinery™ aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, and green hydrogen fuel at scale for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996.
For more information about Heliogen, please visit Heliogen.com or @heliogeninc.
About Athena Technology Acquisition Corp.
Athena Technology Acquisition Corp. is an entirely women-led special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the technology, direct-to-consumer and fintech industries.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the business combination between Athena and Heliogen, the consideration to be paid to Heliogen’s stockholders and its closing, statements regarding Heliogen’s listing on the NYSE, statements regarding the anticipated enterprise value of the combined company at closing, statements regarding Heliogen’s expected proceeds from the business combination, use of such proceeds and expected benefits of the business combination, statements regarding Phyllis Newhouse, statements regarding the impact of Heliogen’s technology on the energy market, and statements regarding the expected proceeds from the PIPE and its closing. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on current expectations and beliefs of the management of Athena and/or Heliogen in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effects on Heliogen and Athena as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Heliogen or Athena will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including changes in domestic and foreign business, market, financial, political and legal conditions, potential benefits and commercial attractiveness to its customers of Heliogen’s products and services, the potential success of Heliogen’s marketing and expansion strategies, Heliogen’s ability to scale and the timing of expected business milestones, the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the stockholders of the Company or Athena is not obtained, failure to realize the potential benefits of the business combination (including with respect to stockholder value), the effects of competition on the Company’s future business, the ability of the post-combination company to meet the NYSE listing standards, the amount of redemption requests made by Athena’s public stockholders, the ability of Athena or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, and expectations related to the terms and timing of the potential transactions and those factors discussed in Athena’s final prospectus filed on March 18, 2021, under the heading “Risk Factors,” and other documents of Athena filed, or to be filed, including the proxy statement/prospectus expected to be filed in connection with the business combination, with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of Athena’s filings with the SEC, and in Athena’s current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to Athena and/or Heliogen as of the date hereof, and Athena and/or Heliogen assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Important Information for Investors and Stockholders
In connection with the proposed business combination, Athena plans to file a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which includes a proxy statement to be distributed to the holders of Athena’s common stock in connection with Athena’s solicitation of proxies for the vote by Athena’s stockholders with respect to the business combination and other matters as described in the Registration Statement and a prospectus relating to the offer of the securities to be issued to the equity holders of Heliogen in connection with the business combination. This press release does not contain all the information that should be considered concerning the proposed business combination- and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. Athena and Heliogen urge investors, stockholders and other interested persons to read, when available, the Registration Statement, as well as other documents filed with the SEC, because these documents will contain important information about the proposed transaction.
When available, the Registration Statement and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of the record date to be established for voting of the proposed transaction. The Registration Statement, once available, can be obtained, without charge, at the SEC’s web site (http://www.sec.gov).
Participants in the Solicitation
Heliogen, Athena and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed Business Combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Form S-1 filed with the SEC on February 5, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be contained in the preliminary and definitive proxy statements/prospectus related to the proposed business combination and related transactions when it becomes available, and which can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Heliogen Contacts
For Media:
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For Investors:
Caldwell Bailey
ICR, Inc.
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Athena Technology Acquisition Corp. Contacts
For Media:
Berns Communications Group
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(973) 727-8400
(917) 922-4435
New partnership brings enhanced capabilities and insights to PEP’s energy-focused financial services expertise
HOUSTON--(BUSINESS WIRE)--Pickering Energy Partners (PEP), a Houston-based energy financial services firm, today announced a merger with Heikkinen Energy Advisors (“Heikkinen”), an investment advisor providing high-quality insights across all sectors of the energy industry, including Exploration and Production, Oilfield Services, Midstream, Energy Transition, Mobility and Technology. The new partnership builds on Pickering Energy Partners’ expertise in traditional energy and solidifies its role in Energy Transition subsectors.
Together, PEP and Heikkinen have hundreds of years of combined experience, providing clients with the deepest insights and counsel in the energy industry. “Bringing the Heikkinen team on board will enhance our traditional energy insights and focus our renewable energy expertise, allowing us to offer even greater value to clients across all energy subsectors, from traditional to renewables,” said Dan Pickering, Chief Investment Officer of Pickering Energy Partners. “Our two teams have more combined energy experience (including ESG) than anyone else in the sector. Add to that Heikkinen’s longstanding relationships across the industry and you see the creation of an energy powerhouse.”
“We are excited to be joining forces with PEP and are confident that our combined experience enables us to bring clients the most comprehensive investment advice in the industry,” said David Heikkinen, CEO of Heikkinen Energy Advisors. “The merger will provide greater opportunities to exploit growth opportunities in oil and gas, the energy transition, and the technology that enables both.”
The Pickering Energy Partners and Heikkinen Energy Advisors merger is the latest evolution from PEP of the firm’s offerings focused on the energy landscape. The merger comes on the heels of PEP’s establishment of a Consulting team and a partnership with MERGE Electric Fleet Solutions, a company that will help businesses and municipalities electrify and finance their vehicle fleets. Earlier in the year, PEP also merged with SailingStone, an investment firm with a long history of investing in both energy transition and global natural resources public equities.
To learn more about Pickering Energy Partners’ merger with Heikkinen Energy Advisors, PEP Insights, PEP Consulting, SailingStone, or other PEP offerings, click here.
About Pickering Energy Partners
Pickering Energy Partners is a leading energy-focused financial services institution with capabilities across the sector including public and private investments, operational and strategic consulting, and deep domain expertise via informative insights.
Headquartered in Houston, Texas, PEP delivers an expertly curated team with unmatched experience throughout the entire energy landscape that aims to provide guidance and long-term value for clients – from traditional energy through the ongoing energy transition.
About Heikkinen Energy Advisors
Heikkinen Energy Advisors is an investment advisor providing high-quality insights across all sectors of the energy industry. The firm is headquartered in Houston, Texas.
Walker Moody
(713) 804-7577
AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on June 30, 2021, it entered into agreements (the “Financing Agreements”) with PNC Bank, N.A. (“PNC”) and an affiliate of MSD Partners, L.P. (“MSD Partners”) under which PNC has provided an up to $50 million asset-based revolving credit facility and availability for up to $125 million of letters of credit to B&W, and MSD Partners will provide cash collateral to support the letter of credit availability. The Financing Agreements have a maturity date of June 30, 2025.
All obligations under the Company’s prior Credit Agreement with Bank of America N.A. as administrative agent have been discharged, and the Credit Agreement has been terminated. Under the terms of the prior Credit Agreement, approximately $9 million in deferred fees have been waived due to the Company’s successful refinancing prior to July 1, 2021.
“The closing of this new facility is a significant accomplishment that demonstrates the strength of our company going forward and reflects the confidence of our lenders and our shareholders in our business and its future growth,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “With financing in place through June 2025, and long-term availability to support multi-year projects, we have a new start to build on our strong global growth strategy, continue to invest in our renewable, environmental, thermal and decarbonization technologies and evaluate potential acquisitions. The new senior facility will directly support new projects this year and ongoing projects as we leverage the strength of our experienced management team, improved balance sheet and robust pipeline to increase shareholder value while driving a worldwide industrial transformation to a green environmental future.”
Evercore served as the exclusive financial advisor to B&W.
About Babcock & Wilcox Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets.
About MSD Partners, L.P.
MSD Partners, L.P., an SEC-registered investment adviser located in New York, was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital. MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family. MSD Partners utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. For further information about MSD Partners, please see www.msdpartners.com.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the Company’s strength and future growth going forward, global growth strategy, future investments and the impact of and support provided by the credit facility. Factors that could cause such actual results to differ materially from these contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable). These factors should be considered carefully, and the Company cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox Enterprises
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox Enterprises
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ComEd uses goats to clear grass and brush under power lines – a safer and greener way to help keep energy reliable
CHICAGO--(BUSINESS WIRE)--ComEd’s four-legged employees are taking a break from eating vegetation under power lines in Pekin, Ill., for a boat cruise on the Chicago River. Twenty goats will join ComEd employees today to take in downtown views from the river and educate customers about ComEd’s goat vegetation management program.
“ComEd is excited to bring the goats to Chicago this year to show one of our innovative and sustainable solutions to ensure reliable power for families and businesses,” said Michelle Blaise, senior vice president of technical services at ComEd. “The goats work hard to clear vegetation in hard-to-reach places, helping us to prevent power outages in an environmentally-friendly way. If anyone deserves a break, it’s them.”
The ComEd goats will cruise the Chicago River between the DuSable Bridge and LaSalle Street Bridge on Wednesday, July 7, from 10 a.m. until 3 p.m.
Since 2019, ComEd has enlisted the support of over 200 goats to help clear vegetation in Pekin, Ill., in terrain that is difficult to access. The goats’ “work” helps ComEd avoid power outages and service disruptions often caused by overgrown vegetation near power lines. Using goats cuts the cost and time required to clear the vegetation by more than half, reduces safety risks to workers and is an eco-friendly alternative.
The goats are on loan to ComEd from goat grazing company Goats on the Go. After clearing 13 acres of land last year, ComEd’s goats are continuing the hard work this summer through the month of July.
To learn more about the goats’ #HotGoatSummer and track their progress, check out ComEd’s Facebook, Twitter and Instagram.
ComEd is a unit of Chicago-based Exelon Corporation (NYSE: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
ISS Report Notes That Dissident Has Not Made a Compelling Case for Change
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today announced that the leading independent proxy advisory firm, Institutional Shareholder Services (“ISS”), has revised its initial recommendation and now recommends that all GeoPark shareholders vote “FOR” all eight of GeoPark’s highly qualified Director nominees at the Company’s Annual General Meeting of Shareholders, scheduled for July 15, 2021.
In its original report, ISS recommended that shareholders vote FOR seven of eight of GeoPark’s Director nominees. The change in ISS’ recommendation follows Mr. Pedro Aylwin Chiorrini’s resignation from the Board’s Nomination and Corporate Governance Committee, which accelerated the Board’s transition to maintain fully independent Board committees, consistent with GeoPark’s ongoing Board refreshment and corporate governance enhancements. Following Mr. Aylwin’s resignation, the Nomination and Corporate Governance Committee, the Audit Committee and the Compensation Committee now consist solely of independent Directors.
In making its recommendation, ISS notes1:
“We are gratified that ISS recognizes the Board’s commitment to evolving in line with corporate governance best practices and has revised its recommendation to support the re-election of all eight of GeoPark’s highly qualified Director nominees. We regularly review the mix of skills and experience of our Directors to ensure our Board is evolving in line with the increasing scale and demands of the business, and we are committed to continuous Director refreshment and further governance enhancements. We encourage GeoPark shareholders to follow ISS’ recommendation and vote “FOR” all of GeoPark’s nominees on the WHITE proxy card,” said Sylvia Escovar, Independent Chair of GeoPark’s Board of Directors.
WE STRONGLY URGE YOU TO VOTE “FOR” ALL 8 OF OUR BOARD NOMINEES
TO PROTECT THE VALUE OF YOUR INVESTMENT
VOTE USING THE WHITE CARD TODAY
Your vote is important. Please discard any blue proxy cards you may receive from Mr. Gerald O’Shaughnessy. If you have already returned a blue proxy card, you can change your vote simply by voting by telephone or via the Internet by following the instructions on the enclosed WHITE proxy card or by signing, dating and returning a WHITE proxy card today. Only your latest-dated proxy card will be counted.
If you have questions about how to vote your shares, please contact:
INNISFREE M&A INCORPORATED
Shareholders, Call Toll-Free: (877) 750-8166
Banks and Brokers, Call Collect: (212) 750-5833
NOTICE
A copy of GeoPark’s proxy statement and related materials as furnished to the SEC is available at no charge on the SEC website at www.sec.gov. In addition, copies of the proxy statement and other documents may be obtained free of charge by accessing the Company’s website at www.geo-park.com or at www.envisionreports.com/GPRK/2021/1B327AP21E/default.htm?voting=true.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the composition of the Board of Directors, the Board’s evolution and diversification, GeoPark’s positioning to continue delivering consistent value and free cash flow and GeoPark’s focus on value creation for shareholders. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
1 Permission to use quotations neither sought nor obtained from ISS.
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf
T: +1-212-750-5833
MEDIA:
Sard Verbinnen & Co.
Jared Levy / Kelsey Markovich
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ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV #AeroVironment--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today introduced Crysalis™, the company’s next-generation ground control solution. Crysalis is an integrated hardware and software-based ground control system (GCS) that provides command and control of compatible AeroVironment unmanned aircraft systems (UAS) and their payloads, through an intuitive user experience (UX).
Built around three core elements – software, hardware, and antennas – Crysalis was designed to make operating robotic systems easier than ever before. Crysalis offers complete interchangeability, either as modular elements or turnkey systems, both adaptable to meet specific mission requirements. Crysalis is cross-platform compatible with Android, Microsoft Windows and Linux operating systems. The new GCS is available in multiple configurations ranging from lightweight and wearable to mobile and command center systems that are modular and scalable.
Crysalis was designed with the operator in mind, featuring an intuitive user interface (UI) to reduce cognitive load and training burden while enhancing situational awareness and battlefield collaboration. Through the easy-to-use Crysalis Control app, users can plan and execute flight missions as well as navigate and control UAS assets and payloads with one-click access to critical information, modes and telemetry meta data. Additional operational participants can gain enhanced situational awareness, share information and collaborate on tactical decisions by accessing telemetry and downlink data through remote video terminals, while also allowing them to capture data directly on their devices. Crysalis standardizes the user experience across all AeroVironment small UAS platforms, simplifying the training requirements and operation of Puma™, Raven® and Wasp®.
“With the introduction of Crysalis, we are streamlining command and control of our small UAS and empowering warfighters with actionable intelligence at the speed of war to increase their tactical decision making,” said Wahid Nawabi, AeroVironment chairman and chief executive officer. “Crysalis can be integrated into our portfolio of intelligent, multi-domain robotic systems and deliver easy-to-use, yet powerful new capabilities that enable our customers to succeed in full spectrum operations.”
The Crysalis GCS is available in scalable hardware configurations with all necessary software components pre-configured for quick mission deployment. These range from the Crysalis Ultralight GCS that provides full control of UAS and payloads through virtual control or tactile joysticks on a wearable smartphone configuration to Crysalis Command GCS – a command center configuration featuring a ruggedized laptop. Every Crysalis GCS configuration is natively compatible with AeroVironment’s Digital Data Link™ (DDL™) radios and antennas, is designed for plug-and-play compatibility with Nett Warrior and can integrate with both third party command and control and battlefield management applications.
“As a software-based ecosystem, Crysalis will continue to develop and evolve based on customer needs and front-line user feedback with expanded aircraft command and control capabilities, software features and IoBT compatible functionality,” said Tom Vaneck, AeroVironment vice president of solution strategy.
For more information on AeroVironment’s Crysalis next-generation ground control solution, visit www.avinc.com/crysalis.
ABOUT AEROVIRONMENT UNMANNED AIRCRAFT SOLUTIONS
AeroVironment’s portfolio of intelligent, multi-domain robotic systems includes small footprint, runway-independent unmanned aircraft systems. The JUMP® 20, T-20™ and Puma™ LE provide extended range, multi-payload capabilities, and the Puma™ RQ-20, Raven® RQ-11B, Wasp® RQ-12A, VAPOR® Helicopter and automated Quantix™ Recon deliver highly tactical, frontline situational awareness. These solutions deliver increased, multi-mission capabilities and the option of selecting the appropriate aircraft based on the type of mission to be performed. These capabilities have the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel, as well as greater safety, scalability and cost-savings to commercial operators. AeroVironment provides turnkey ISR and support services worldwide to ensure a consistently high level of mission success. AeroVironment has delivered tens of thousands of new and replacement unmanned air vehicles to customers within the United States and to more than 50 allied governments. For more information, visit https://www.avinc.com/uas.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Makayla Thomas
AeroVironment, Inc.
+1 (805) 520-8350
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) announced today it has acquired the assets of a retail propane distribution company based in North Carolina, operating under the tradename, Williams Energy Group (“Williams Energy”).
“The acquisition of Williams Energy is Superior’s fifth acquisition in 2021 and supports our Superior Way Forward growth strategy initiative of executing on accretive acquisitions in our operational areas. This acquisition scales our existing footprint in North Carolina, and provides us with a strong customer base and synergy opportunities from combining our existing operations and the recent Freeman Gas acquisition,” said Luc Desjardins, Superior’s President and CEO. “Williams Energy is a well-run, customer-focused business and we look forward to welcoming the team and customers to Superior.”
Founded in 1998, Williams Energy is an established independent retail propane distributor delivering approximately ~7 million gallons of propane annually to 12,000 retail and commercial customers in North Carolina.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Beth Summers, Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
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NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--Spartan Acquisition Corp. II, a publicly traded special purpose acquisition company (“Spartan”) (NYSE: SPRQ), announced today that it expects all closing conditions, other than those that have already been met or which Sunlight and Spartan have agreed to waive, to be satisfied and closing of the business combination (the “Business Combination”) with Sunlight Financial (“Sunlight”), a premier, technology-enabled point-of-sale financing company, to occur on Friday, July 9, 2021. Based on proxies submitted to date, which may be changed at or before the meeting to be held on Thursday, July 8, 2021, a majority of stockholders support all key proposals, and Spartan anticipates closing the Business Combination with Sunlight Friday, July 9, 2021.
Following closing, the combined company will be renamed Sunlight Financial Holdings Inc. and its common stock and warrants are expected to be trading on the New York Stock Exchange under the ticker symbols “SUNL” and “SUNLW”, respectively, commencing on Monday, July 12, 2021.
The special meeting of Spartan stockholders is scheduled to be held on Thursday, July 8, 2021, at 11:00 a.m., Eastern time virtually at https://www.cstproxy.com/spartanspacii/2021, as described in Spartan’s definitive proxy statement/prospectus, dated June 18, 2021 (the “Proxy Statement”).
About Sunlight Financial
Sunlight Financial is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
About Spartan Acquisition Corp. II
Spartan is a special purpose acquisition entity focused on the energy value chain in North America and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Spartan is sponsored by Spartan Acquisition Sponsor II LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (together with its subsidiaries, “Apollo”) (NYSE: APO). For more information, please visit www.spartanspacii.com.
Additional Information on the Business Combination and Where to Find It
In connection with the proposed Business Combination, Spartan filed a registration statement on Form S-4 (File No. 333-254589) (the “Registration Statement”) with the SEC, which includes a preliminary proxy statement/prospectus of Spartan. The Registration Statement is now effective, and the definitive proxy statement/prospectus has been mailed to the stockholders of Spartan SECURITYHOLDERS OF SPARTAN AND SUNLIGHT ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS AND RELEVANT MATERIALS RELATING TO THE PROPOSED BUSINESS COMBINATION FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED BUSINESS COMBINATION BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE BUSINESS COMBINATION. Stockholders will be able to obtain free copies of the definitive proxy statement/prospectus and other documents containing important information about Spartan and Sunlight once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements may include, but are not limited to, statements regarding the special meeting and the closing of the Business Combination. These forward-looking statements are not guarantees of future performance, reflect the current views and expectations of Spartan’s management and Sunlight’s management, are based on various assumptions, whether or not identified herein, and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from expectations or results projected or implied by such forward-looking statements. Such risks and uncertainties include, among others: changes in domestic and foreign business, market, financial, political and legal conditions; the inability of Spartan and Sunlight to successfully or timely consummate the Business Combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Business Combination or that the approval of the stockholders of Spartan or equityholders of Sunlight is not obtained or whether conditions to closing of the proposed Business Combination in the agreements related to the proposed Business Combination will be met or waived; failure to realize the anticipated benefits of the Business Combination; the amount of redemption requests made by Spartan’s public stockholders; the ability of Spartan or the combined company to issue equity or equity-linked securities in connection with the Business Combination or in the future; risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Spartan’s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on March 11, 2021, as amended on May 11, 2021, and Registration Statement on Form S-4 as filed with the SEC on March 22, 2021, as amended on May 12, 2021 and June 1, 2021, and other documents of Spartan filed, or to be filed, with the SEC. All forward-looking statements used herein speak only as of the date they are made and are based on information available at that time. Neither Spartan nor Sunlight assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
Participants in the Solicitation
Spartan and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Spartan in connection with the proposed Business Combination. Sunlight and its officers and directors may also be deemed participants in such solicitation. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Spartan’s executive officers and directors in the solicitation by reading Spartan’s definitive proxy statement/prospectus, Spartan’s Amendment No. 1 to Annual Report on Form 10-K/A for the year ended December 31, 2020, filed with the SEC on May 11, 2021 and Quarterly Report on Form 10-Q for the three months ended March 31, 2021, filed on May 21, 2021. Information concerning the interests of Spartan’s participants in the solicitation, which may, in some cases, be different than those of Spartan’s stockholders generally, is set forth in the definitive proxy statement/prospectus relating to the proposed Business Combination.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Sunlight Financial:
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888.315.0822
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Doug Donsky / Brian Ruby, ICR
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DUBLIN--(BUSINESS WIRE)--The "Global Refinery Vacuum Distillation Units (VDU) Outlook to 2025 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Vacuum Distillation Units" report has been added to ResearchAndMarkets.com's offering.
The global vacuum distillation units (VDU) capacity increased from 28,168 thousand barrels per day (mbd) in 2015 to 28,213 mbd in 2020 at an Average Annual Growth Rate (AAGR) of 0.03 percent. It is expected to increase from 28,213 mbd in 2020 to 30,593 mbd in 2025 at an AAGR of 1.6 percent. The US, Russia, Japan, India, and Germany are the major countries that accounted for 48.9 percent of the total global VDU capacity in 2020.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
2. Global Refinery VDU, Snapshot
2.1. Global Refinery VDU, Key Data, 2020
2.2. Global Refinery VDU, Planned and Announced VDUs
2.3. Global Refinery VDU, New VDUs and Capacity Expansions by Region
2.4. Global Refinery VDU, Regional Comparisons
3. Africa Refinery VDU
3.1. Africa Refinery VDU, Snapshot
3.2. Africa Refinery VDU, Planned and Announced VDUs, Capacity Expansions and Capex by Country
3.3. Africa Refinery VDU, New VDUs and Capacity Expansions by Key Countries
3.4. Africa Refinery VDU, Nigeria
3.5. Africa Refinery VDU, South Africa
3.6. Africa Refinery VDU, Egypt
3.7. Africa Refinery VDU, Morocco
3.8. Africa Refinery VDU, Cote d'Ivoire
3.9. Africa Refinery VDU, Djibouti
3.10. Africa Refinery VDU, Cameroon
3.11. Africa Refinery VDU, Algeria
3.12. Africa Refinery VDU, Congo Republic
3.13. Africa Refinery VDU, Senegal
3.14. Africa Refinery VDU, Libya
3.15. Africa Refinery VDU, Angola
3.16. Africa Refinery VDU, Zambia
3.17. Africa Refinery VDU, South Sudan
3.18. Africa Refinery VDU, Ethiopia
3.19. Africa Refinery VDU, Ghana
3.20. Africa Refinery VDU, Zimbabwe
4. Asia Refinery VDU
4.1. Asia Refinery VDU, Snapshot
4.2. Asia Refinery VDU, Planned and Announced VDUs, Capacity Expansions and Capex by Country
4.3. Asia Refinery VDU, New VDUs and Capacity Expansions by Key Countries
4.4. Asia Refinery VDU, Japan
4.5. Asia Refinery VDU, India
4.6. Asia Refinery VDU, China
4.7. Asia Refinery VDU, South Korea
4.8. Asia Refinery VDU, Thailand
4.9. Asia Refinery VDU, Taiwan
4.10. Asia Refinery VDU, Indonesia
4.11. Asia Refinery VDU, Pakistan
4.12. Asia Refinery VDU, Singapore
4.13. Asia Refinery VDU, Malaysia
4.14. Asia Refinery VDU, Philippines
4.15. Asia Refinery VDU, Bangladesh
4.16. Asia Refinery VDU, Sri Lanka
4.17. Asia Refinery VDU, Mongolia
5. Caribbean Refinery VDU
6. Central America Refinery VDU
7. Europe Refinery VDU
8. Former Soviet Union Refinery VDU
9. Middle East Refinery VDU
10. North America Refinery VDU
11. Oceania Refinery VDU
12. South America Refinery VDU
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/drib2e
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BONN, Germany--(BUSINESS WIRE)--Deutsche Post DHL Group (Symbol: DPW), the world’s leading logistics company, has today released preliminary results for the second quarter of 2021. Simultaneously, the outlook for the current financial year and for 2023 has been raised. Furthermore, an one-time corona bonus1 for approximately 550,000 employees worldwide has been decided. Preliminary operating profit (EBIT) for the second quarter has improved to record level with around EUR 2,075 million (Q2 2020: EUR 912 million) and has more than doubled compared to previous year. Against the backdrop of the excellent business performance, the Group has raised its EBIT outlook for 2021 to more than EUR 7.0 billion (so far: more than EUR 6.7 billion). The mid-term EBIT outlook for 2023 is now expected to be more than EUR 7.4 billion (so far: more than EUR 7.0 billion).
“The second quarter proved once again that global trade volume continues to recover and the e-commerce boom is sustainable – and we benefit strongly from both. All divisions continue to operate at full speed worldwide and achieve double-digit EBIT growth rates. We want to thank our employees who do fantastic work around the world and deserve another corona bonus“, said Frank Appel, CEO of Deutsche Post DHL Group.
Group grants once again one-time corona bonus of around EUR 200 million
As an appreciation for their tireless efforts during the pandemic the Group has decided to grant again a corona bonus of EUR 3002 to employees worldwide. This one-time payment is aimed at approximately 550,000 colleagues in all divisions and countries. Excluded are Executives. The corresponding expenses of around EUR 200 million will be booked in the third quarter 2021 and are already included in the updated earnings outlook for 2021.
All divisions achieved a significant jump in earnings
All divisions significantly exceeded the previous year's results. Network capacity utilization was constantly high in the second quarter 2021. B2C shipment volumes remained ahead of last year in all networks, while the recovery in the B2B businesses continued to gain momentum. At the same time the tight capacity situation both in Ocean and Air Freight markets remained unchanged.
Express: EBIT in the Express division reached around EUR 1,170 million in the second quarter 2021 compared to EUR 565 million in the previous year’s quarter.
Global Forwarding, Freight: EBIT in Global Forwarding, Freight stood at around EUR 315 million in the second quarter 2021, also clearly ahead of previous year’s result of EUR 190 million.
Supply Chain: EBIT at Supply Chain came in at around EUR 195 million in the second quarter 2021. It was at EUR 33 million in Q2 2020 in the initial stage of the pandemic.
eCommerce Solutions: eCommerce Solutions recorded EBIT of around EUR 115 million in the second quarter 2021, significantly above last year’s Q2 result which stood at EUR 1 million.
Post & Parcel Germany: EBIT in Post & Parcel Germany in the second quarter 2021 was around EUR 315 million (Q2 2020: EUR 264 million).
The positive business development is underpinned by a continued strong development of cash flow. Free cash flow in the second quarter 2021 amounted to more than EUR 800 million (Q2 2020: EUR 605 million). For the first half of 2021 free cash flow now stands at more than EUR 2.0 billion (H1 2020: EUR 196 million).
Earnings outlook raised in expectation of unchanged high shipment volumes and improved efficiency
In light of the ongoing earnings momentum the Group EBIT for 2021 is now expected to be more than EUR 7.0 billion (so far: more than EUR 6.7 billion). This includes additional expenses of around EUR 200 million for the one-time corona bonus. For the full year 2021, the Group now forecasts a free cash flow of more than EUR 3.2 billion (so far: more than EUR 3.0 billion). Gross capex in 2021 is expected to reach around EUR 3.9 billion (so far: around EUR 3.8 billion). The full year 2021 Group tax rate will now reach 28 percent, the upper end of the previously guided range of 26-28 percent.
Mid-term guidance for Group EBIT 2023 is now expected to be more than EUR 7.4 billion (previously: more than EUR 7.0 billion). The aggregated 2021-2023 guidance for free cash flow was left unchanged at around EUR 9.0 billion. The cumulative outlook for gross capex was also confirmed at around EUR 11.0 billion for the period 2021 to 2023.
The comprehensive disclosure for Q2/H1 2021 will be published as planned on August 5, 2021.
– End –
Deutsche Post DHL Group Deutsche Post DHL Group is the world’s leading logistics company. The Group connects people and markets and is an enabler of global trade. It aspires to be the first choice for customers, employees and investors worldwide. The Group contributes to the world through responsible business practice, corporate citizenship and environmental activities. By the year 2050, Deutsche Post DHL Group aims to achieve zero emissions logistics.
Deutsche Post DHL Group is home to two strong brands: Deutsche Post is Europe’s leading postal service. DHL offers a comprehensive range of international express, freight transport, and supply chain management services as well as e-commerce logistics solutions. Deutsche Post DHL Group employs approximately 570,000 people in over 220 countries and territories worldwide. The Group generated revenues of more than 66 billion Euros in 2020.
THE logistics company for the world.
1 EUR 300 per full-time employee
2 EUR 300 per full-time employee
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GENOA, Italy--(BUSINESS WIRE)--#Helbiz--Helbiz, a global leader in micro-mobility that is the business combination target of GreenVision Acquisition Corp (Nasdaq: GRNV) today announced a partnership with IrenGo and Telepass to deploy 50 MiMoto electric mopeds throughout Portofino, Santa Margherita Ligure, Rapallo, Paraggi and Punta Pedale. As the first and only operator in the Ligurian area, this partnership will bring micro-mobility and sustainable transportation solutions to the local community. To celebrate the launch, the companies welcomed the Governor of Liguria, Giovanni Toti, to introduce the services to the city, followed by an exclusive concert by Italian singer-songwriter, Giovanni Caccamo.
This partnership is bound by each of the companies’ commitment to environmental sustainability, and the MiMoto service provides a practical, economical and green method of shared transportation to quickly move from one point to another. The service is accessible through the MiMoto app, available for iOS and Android. E-mopeds can be found and booked through the application interface, with rides costing €0.35 per minute, €14.90 per hour or €59 for the whole day. Each e-moped can hold two passengers, and is equipped with two helmets, sanitizer, disposable hygienic caps and self-drying helmet foam for riders to access before and after each trip.
"Micro-mobility solutions encourage the reduction of traffic and emissions in Tigullio and have proven over the last year to be a great success," said President of the Liguria Region Giovanni Toti. "We are pleased to bring the e-mopeds back to the area, one that is so important for tourism in our region. We strive to implement green and environmentally friendly policies, and through the use of electric vehicles Liguria will continue to be at the forefront."
"Through its effectiveness, practicality and sustainability, MiMoto is the perfect service for transportation between the cities that overlook the Gulf of Tigullio," said Matteo Tanzilli, Head of Institutional Relations at Helbiz. "There is no better solution to facilitate short and medium-range travel in popular tourist areas that also allows a reduction in traffic congestion."
“This partnership continues to position us as leaders in the mobility sharing services sector across Liguria," said Gianluca Bufo, CEO of Iren Luce Gas e Servizi. "We are proud to be a provider of 100% green energy produced in the group's hydroelectric plants. In addition, we have decided to convert all of our domestic supplies into green energy at no additional cost for new and existing customers across the city. This way, we can help the environment from our homes, while also experiencing our cities in a fun, safe and sustainable way.”
"Telepass has chosen MiMoto to integrate the electric moped sharing mobility service into its Telepass Pay app, a digital platform of integrated services that continues to grow," said Luca Daniele, CEO of Telepass Pay. "Our mission is to ease people's lives through a new mobility experience, and this partnership with MiMoto allows shared mobility for sustainable, easy and fast transportation. We are aligned with the urban electric mobility provider that contributes to making the city more livable and less congested by traffic, to bring all of these advantages to the large tourist area of Portofino and the Gulf of Tigullio."
ABOUT HELBIZ
Helbiz is a global leader in micro-mobility services. Launched in 2016 and headquartered in New York City, the company operates e-scooters, e-bicycles and e-mopeds in nearly 30 cities around the world including Washington, D.C., Alexandria, Arlington, Atlanta, Miami, Milan and Rome. Helbiz utilizes a customized, proprietary fleet management platform, artificial intelligence and environmental mapping to optimize operations and business sustainability. In Q1 2021, Helbiz Inc announced a merger with SPAC GreenVision Acquisition Corp. (Nasdaq: GRNV), resulting in it becoming the first micro-mobility company listed on Nasdaq upon completion.
ABOUT TELEPASS
Telepass Group was born in 2017 with the aim to create an integrated system for mobility both in an urban and extra-urban contest. Today, Telepass is an ecosystem that offers to individuals and businesses a growing selection of solutions, even in digital mode, for a flexible, safe and sustainable mobility. A pioneer of mobility committed to facilitate the freedom of movement to people, expanding its offer, investing in state-of-the-art startups and ensuring the access to its services in Europe. So that every travel is an experience without borders. www.telepass.com
ABOUT IREN
Iren is a multi-utility company operating in the sectors of electricity, gas, district heating, environmental services, integrated water services and technological services for public administrations. The group operates in a multi-regional area with over 8,600 employees, a portfolio of approximately 1.9 million customers in the energy sector, nearly 2.8 million inhabitants served in the integrated water cycle and more than 3 million inhabitants in the environmental cycle. Iren is a holding company with headquarters in Reggio Emilia and operating hubs in Genoa, Parma, Piacenza and Turin. Iren Luce Gas e Servizi, the commercial name of Iren Mercato S.p.a., is the business unit of the Iren Group that manages commercial activities for customers of all segments, both private individuals and companies. The supply chain includes procurement, sale and post-sales customer management. IrenGO is the business line dedicated to e-mobility that pursues its strategic lines of development, namely transversal innovation, environmental awareness, value-added investments and a customer-resident focus. It offers complete zero-emission mobility solutions for families, companies, small and medium enterprises and public administrations.
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s or GreenVision’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (ii) the ability of the Company to meet Nasdaq listing standards following the transaction and in connection with the consummation thereof; (iii) the inability to complete the transactions contemplated by the Merger Agreement due to the failure to obtain approval of the stockholders of the Company or the stockholders of GreenVision or other reasons; (iv) the failure to meet the minimum cash requirements of the Merger Agreement due to GreenVision stockholder redemptions and the failure to obtain replacement financing; (v) the failure to meet projected development and production targets; (vi) costs related to the proposed transaction; (vii) changes in applicable laws or regulations; (viii) the ability of the combined company to meet its financial and strategic goals, due to, among other things, competition, the ability of the combined company to pursue a growth strategy and manage growth profitability; (ix) the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; (x) the effect of the COVID-19 pandemic on the Company and GreenVision and their ability to consummate the transaction; and (xi) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in GreenVision’s periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21, 2021. GreenVision's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to GreenVision and Helbiz and speaks only as of the date on which it is made. GreenVision and Helbiz undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
Additional Information about the Transaction and Where to Find It
In connection with the proposed business combination, GreenVision filed a preliminary proxy statement with the SEC. Additionally, GreenVision will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Security holders of GreenVision are urged to read the preliminary proxy statement, the definitive proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release. GreenVision’s stockholders may also obtain a copy of the preliminary or definitive proxy statement, once available as well as other documents filed with the SEC by GreenVision, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: GreenVision Acquisition Corp., 8 The Green, Suite #4966, Dover, DE 19901, Attention: Chief Financial Officer, Tel. (302 289-8280).
Participants in Solicitation
GreenVision and its directors and officers may be deemed participants in the solicitation of proxies of GreenVision’s shareholders in connection with the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in GreenVision is contained in the preliminary proxy statement with respect to the proposed business combination filed on April 8, 2021 with the SEC, and in GreenVision’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and subsequently amended, which was filed with the SEC Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of GreenVision’s executive officers and directors in the solicitation by reading GreenVision’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and the definitive proxy statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of GreenVision’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the definitive proxy statement relating to the business combination when it becomes available.
Helbiz and its officers and directors may also be deemed participants in such solicitation. A list of the names of such directors and executive officers and information regarding their interests in the business combination are set forth in the preliminary proxy statement, which was filed on April 8, 2021 with the SEC and the definitive proxy statement for the business combination when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
Non-Solicitation
This press release does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
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Flagship Innovation Contest Draws Students From 47 Countries to Solve Water Challenges
RYE BROOK, N.Y.--(BUSINESS WIRE)--#LetsSolveWater--Xylem (NYSE: XYL), a leading water technology company, is investing in the future of the global water industry with a new dedicated student development program – Xylem Ignite – targeting high school and university students worldwide. Midway through its inaugural year, Xylem Ignite has already engaged more than 1,700 students in creative water-oriented hackathons and sustainability events, including 650+ participants from 47 countries competing in the Xylem Global Student Innovation Challenge for $20,000 in total cash prizes.
“Young leaders are playing such an essential role in our collective ability to solve the global water crisis facing us,” said Patrick Decker, Xylem’s Chief Executive Officer. “We want to encourage them. So we’re investing in them with Xylem Ignite. The future of water innovation is coming from many places, including students who are engaging passionately to help address our water challenges. We have a tremendous opportunity to embrace their ideas and enable them to become the next generation of leaders working for a sustainable world. Investing in them today will provide enormous dividends for the communities we serve.”
Decker added, “I am deeply inspired to be working with so many talented people who are passionate about solving water challenges and creating a better future for our planet.”
Decker shared his remarks as part of today’s virtual student award ceremony recognizing the winners of the inaugural Global Student Innovation Challenge, Xylem Ignite’s flagship innovation competition. The competition generated 103 final projects over eight weeks, with three winners in each of the high school and university categories receiving cash prizes totaling $20,000. Contestants were invited to submit solutions to one of four challenge statements, with access to masterclasses and support from mentors across the water industry. The challenges included: reducing the water footprint of everyday products; gamifying water quality education; urban flood prediction; and water for life on Mars.
University category finalist, the Mars-WET team, for example, provided detailed solutions to sustaining life on Mars. “After going through so much research on Mars, we realized that [our innovations] can be applied on Earth, too. [We] believe that clean water and sanitation is a human right and is fundamental to human dignity.”
Young innovators developing solutions to various water problems can also apply to be a part of the Xylem Ignite Innovation Incubator. The Incubator program provides up to 12 months’ support for participants to scale up their innovations and advance them toward market readiness. Interested students can send an email to This email address is being protected from spambots. You need JavaScript enabled to view it. for more information and to submit applications.
Xylem Ignite was conceived in mid-2020 by a team of young professionals in Xylem, as a platform to engage the passion and creativity of students around the world. The investments are targeted to give interested students access to the resources needed to develop their ideas and innovations.
The Xylem Ignite program engages students to:
For more information about Xylem Ignite, including on-demand access of the awards event visit www.xylem.com/ignite. The full Xylem Ignite media kit with high-res downloads, is available at info.xyleminc.com/ignite. General inquiries about the program can be directed to This email address is being protected from spambots. You need JavaScript enabled to view it..
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.
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Amanda Holloway
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#Civic50GreaterPhiladelphia--UGI Corporation (NYSE: UGI) has been named a 2021 honoree of The Civic 50 Greater Philadelphia by Philadelphia Foundation, in partnership with Points of Light and local partners. Modeled after Points of Light’s national program, The Civic 50 Greater Philadelphia provides a standard for corporate citizenship and showcases how employers use their time, skills and resources to drive social impact in their communities and company.
“UGI has a long history of strengthening the communities we serve by providing financial assistance and supporting employee volunteer efforts. Our dedicated teams of employees continue to make meaningful impact in our communities,” said Roger Perreault, President and Chief Executive Officer of UGI Corporation. “We are honored to receive this recognition and will continue to support and partner with organizations that are committed to strengthening our communities through greater inclusion and equity.”
Since 2011, The Civic 50 has provided a national standard for superior corporate citizenship and has showcased how companies use their time, skills and other resources to drive social impact in their business and community.
“Philadelphia Foundation is proud to recognize UGI’s outstanding civic engagement,” said Pedro Ramos, President and Chief Executive Officer of Philadelphia Foundation. “All of the 2021 honorees have demonstrated great passion and dedication to making a meaningful impact in the local communities they serve. It is this type of commitment that resonates throughout a region and sets the standard for corporate stewardship. We thank UGI for their efforts and congratulate them on this exciting honor.”
Also in keeping with Philadelphia Foundation’s role in advancing civic initiatives through partnerships and collaboration, it serves as home to the Greater Philadelphia Corporate Volunteer Council, as well as the Key Skills Hub – an ecosystem that matches community nonprofits with skills-based volunteers, free of charge.
“Points of Light believes that corporate leadership and commitment to civic engagement is critical to strengthening communities, and The Civic 50 Greater Philadelphia honorees including UGI exemplify that,” said Natalye Paquin, President and Chief Executive Officer of Points of Light. “Their inclusiveness and comprehensive approach to corporate citizenship, as well as their responsiveness to reflect, learn from each other and respond to community needs, make the Greater Philadelphia region a better place for all. We are so pleased to recognize them for taking their civic responsibility seriously, and for the role they play in shaping their communities.”
The Civic 50 Greater Philadelphia honorees were officially recognized on Wednesday, June 30th, at a celebratory event on the central Delaware River waterfront.
The Civic 50 Greater Philadelphia assessment is administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value and consists of quantitative and multiple-choice questions that inform scoring process.
To learn more about The Civic 50 Greater Philadelphia and honorees, please visit philafound.org/civic-50.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in twelve states and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About Philadelphia Foundation
Founded in 1918, Philadelphia Foundation strengthens the economic, social and civic vitality of Greater Philadelphia. Philadelphia Foundation grows effective philanthropic investment, connects individuals and institutions across sectors and geography, and advances civic initiatives through partnerships and collaboration. A publicly supported foundation, the Philadelphia Foundation manages more than 1,000 charitable funds established by its donors and makes over 1,000 grants and scholarship awards each year. To learn more, visit www.philafound.org.
About Points of Light
Points of Light is a nonpartisan, global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. We envision a world in which every individual discovers the power to make a difference, creating healthy communities in vibrant, participatory societies. Through 177 affiliates across 38 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 5 million volunteers in 16 million hours of service each year. We bring the power of people to bear where it’s needed most. For more information, visit www.pointsoflight.org.
Investor Relations
Tameka Morris, 610-456-6297
Arnab Mukherjee, 610-768-7498
Shelly Oates, 610-992-3202
New addition to executive team brings extensive talent management and petrochemical experience
HOUSTON--(BUSINESS WIRE)--#engineering--Audubon Companies, a global provider of engineering, consulting, construction, fabrication, and technical services supporting the energy, power, and industrial markets, announced today the addition of Leah L. Temple to the position of Director of In-Plant Staffing Services. Overseeing Audubon Companies’ In-Plant Engineering Services, she will be responsible for strategies and activities related to placing Audubon technical experts at petrochemical and refinery clients’ worksites to support all stages of plant operations.
Temple brings more than 20 years of talent management, recruiting, business development, and culture-building experience. Her approach to in-plant talent acquisition combines strong industry knowledge with recruiting and talent relationship management expertise. Before joining Audubon Companies, Temple served in a range of service coordination and business development roles for Siemens, Engineering & Inspection Services, Mullin, and Hargrove Engineers & Constructors.
Shawn Senf, Audubon Companies’ Vice President of Petrochemical and Refining, said, “I am pleased to welcome Leah in her new appointment. Her leadership experience and proven track record will be key in providing our clients with the multidisciplinary site-base experts they need to maintain and upgrade existing facilities.”
Temple adds, “I look forward to joining the Audubon team and helping clients achieve their business objectives. Our goal for turnkey in-plant staffing services is to provide clients with technical personnel who are focused on quality, safety, and effective performance.”
The petrochemical and refinery markets are evolving to meet new and emerging global demands, such as sustainability, energy storage and generation, and clean-burning fuel technology and additives. Providing the right in-plant experts will play a crucial role in helping operators enhance their competitiveness in the new landscape; keep pace with aggressive project schedules; and improve safety, throughput, reliability, and utilization.
On Twitter: @audubonco
About Audubon Companies
Audubon Companies is a leading provider of engineering, consulting, construction, fabrication, and technical services supporting the energy, power, infrastructure and industrial markets. Together with our family of companies – Audubon Engineering, Audubon Field Solutions, Audubon Industrial Solutions, Audubon Inspection Solutions, Audubon Carbon, Audubon Construction, Opero Energy, and Affinity – we deliver repeatable project success – safely, on-schedule, and within budget.
For more information, please visit auduboncompanies.com.
Ivonne Hallard
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PERRYSBURG, Ohio--(BUSINESS WIRE)--#distribution--Miner Ltd., the loading dock and door division of OnPoint Group, today announced it has closed the acquisition of Dock & Door Handling Systems, the leading loading dock and commercial door provider in Maine, Massachusetts, and New Hampshire for over 20 years.
Founded in 1997 and headquartered in Saco, Maine with facilities in Wilmington, MA and Hooksett, NH, Dock & Door Handling Systems serves a long-standing list of customers. Their focus to keep facilities running with prescriptive services that limit down time is supported by a team of highly talented sales and service professionals and a shared mindset with Miner Ltd. of “Done Right, Right Now.” This acquisition further expands Miner’s national presence as the preeminent loading dock and door company in North America and opens new opportunities in the Northeast.
“We are thrilled the Dock & Door Handling Systems team has joined Miner, furthering our mission to mitigate risk and improve efficiency at the loading dock. We share a common commitment to customer care and ensuring our customers’ supply chain is always safe and running. Their well-established presence in the Northeast states strengthens our existing geographic footprint in this key market,” stated Miner’s President, Dave Wright.
“Dock & Door Handling Systems has long serviced customers with the most experienced team and best product offerings in the industry. Joining Miner provides our team and our customers with an ability to gain nationwide service coverage, broaden their equipment options and enjoy value-added services like MinerCare,” stated Dock & Door Handling Systems’ President and Founder, Karl Rausch.
For additional information about Miner and Dock & Door Handling Systems visit www.minercorp.com or www.onpointgroup.com/mergers-acquisitions.
About Miner Ltd.
Miner Ltd., an OnPoint Group company, is a self-performing facility expert for docks and doors, improving safety and uptime while lowering costs for some of the largest industrial facilities and Fortune 500-class companies in North America. Our suite of proactive MinerCare services makes for smarter, safer loading docks with data-driven solutions. From real-time electronic evidence to equipment monitoring to asset management and expert installations, our mission is to mitigate risk and improve efficiency at the loading dock. Our geographic footprint includes the largest network of best in class service professionals and qualified affiliates across the country delivering superior speed, consistency and results 24/7/365. Learn more at https://www.minercorp.com/.
About Dock & Door Handling Systems
Founded in 1997, Dock & Door has been installing and servicing loading dock equipment & industrial doors in New England for over 20 years with thousands of successful projects. Headquartered in Saco, ME with operations in Hooksett, NH and Wilmington, MA, Dock & Door prides itself on its ability to keep facilities running and recommending products that minimize service needs and down time.
Lexington Public Relations
Suki Mulberg Altamirano
646-265-0675
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DUBLIN--(BUSINESS WIRE)--The "Alternatively Powered Commercial Vehicles: Global Fuel Markets 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global market for alternative fuel for all classes of commercial vehicles with oil prices at $40 per barrel should grow from $11.1 billion in 2021 to $19.4 billion by 2026 with a compound annual growth rate (CAGR) of 11.8% for the period of 2021-2026.
This report focuses on 10 major alternative fuels for commercial vehicles across North America; Latin America; Europe, the Middle East and Africa (EMEA); and the Asia-Pacific.
Alternative fuels are increasingly popular as countries seek energy independence and attempt to lower harmful emissions. The U.S. has led this effort and makes fuels from vegetables, restaurant grease and other materials for use in dedicated and flex-fuel vehicles. In dedicated vehicles, a single type of fuel can work but in flex-fuel vehicles, multiple types of fuels can be used by blending of fuels in a standard ratio as suggested by vehicles manufacturers.
This report considers several types of vehicles. Medium and heavy-duty type commercial vehicles command a major share of the market.
There are three price points considered for developing a complete understanding of alternative fuels for commercial vehicles: $40 barrel per thousand units, $80 barrel per thousand units and $120 barrel per thousand units. Most commonly, the price of fuel depends on the quality and effectiveness of fuel.
We have also covered information for industry leaders as well as for followers in the company profile chapter, key developments, and competition landscape, and others. The impact of COVID-19 is also covered in the scope of this report.
All market values are in U.S. dollar ($) millions and all are calculated as nominal value; 2020 is considered as the base year and 2021 as the projected year, with values forecast from 2022 to 2026. The market values are forecasted based on projected growth in various industries.
This updated report includes the impact of COVID-19 on the consumption of alternative fuels for commercial vehicles. Although there is a lack of data pertaining to the consumption of alternative fuels for commercial vehicles in 2020, the passenger car segment was hard-hit compared to commercial vehicles. Furthermore, the prices of conventional fuels went high during the pandemic period, which indirectly pushed the sales of alternatively powered vehicles as well as the consumption of alternative fuels.
The Report Includes
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Background
Chapter 4 Requisite Enabling Systems for Alternative Fuels
Chapter 5 Business Case Economics by Fuel Type and Region
Chapter 6 Market Size and Forecast for Alternative Fuels by Vehicle Class
Chapter 7 Company Profiles
Chapter 8 Appendix: Acronyms
For more information about this report visit https://www.researchandmarkets.com/r/s9zk2l
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Blackbuck Resources LLC (“Blackbuck”), which designs, builds, and operates water infrastructure, announced it has closed on a sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated energy and power credit fund managed by Riverstone Holdings LLC (“Riverstone”). The financing provides an initial commitment of $50 million plus an accordion feature, which gives Blackbuck additional liquidity for growth. The facility’s pricing will be adjusted based upon Blackbuck’s adherence to certain sustainability performance targets, which are defined by key performance indicators set internally by Blackbuck.
“This unique structure further supports Blackbuck’s commitment to being an industry leader in sustainability and demonstrates our ongoing efforts to find innovative solutions to reduce our cost of capital and bring differentiated value to our customers,” said Blackbuck CEO and President Justin Love. “The additional capital will allow us to expand the capabilities of our produced water platform and grow with our customers as partners in production.”
“We have a longstanding relationship with the Riverstone team and are excited to partner with one of the leading asset managers in the energy sector. More importantly, this partnership promotes Blackbuck’s environmental stewardship and commitment to the broader goal of decarbonization within the oil and gas industry,” added Blackbuck CFO Jamie Liang.
Chris Abbate, a Partner and Managing Director at Riverstone, said, “We are pleased to partner with Blackbuck on this next stage of environmentally sustainable growth. This capital commitment underscores Blackbuck’s track record of operational excellence and aligns with Blackbuck’s commitment to sustainability.”
Foley & Lardner LLP served as legal adviser to Blackbuck. Baker Botts L.L.P. served as legal adviser to Riverstone.
About Blackbuck Resources LLC
Based in Houston and Midland, Blackbuck designs, builds, and operates water infrastructure and provides services for the oil and gas industry, with a primary focus on the Permian Basin. The team is comprised of professionals with experience in water disposal and treatment, pipeline management, and oil and gas operations. Blackbuck is backed by private equity sponsor Cresta Funds Management. For more information, visit www.blackbuckresources.com.
About Riverstone Holdings LLC
Riverstone Holdings LLC is an energy and power‐focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $41 billion of capital raised. Riverstone conducts buyout, growth capital, and credit investments in the exploration & production, midstream, oilfield services, power, and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, Riverstone has committed over $40 billion to more than 190 investments in North America, Latin America, Europe, Africa, Asia and Australia. Visit www.riverstonellc.com for more information.
About Cresta Fund Management
Blackbuck is a portfolio company of Cresta Fund Management (“Cresta”), a growth-oriented private equity firm that invests in sustainable and conventional energy and industrial infrastructure. Founded in 2016 and headquartered in Dallas, Texas, Cresta Management’s founding partners are seasoned industry veterans who bring value across the investment cycle from initial diligence through business operations. For more information, please visit: www.crestafunds.com.
Erika Allgood
Phone: 713.804.9460
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Fourth Episode in 7 Saturdays Series Helps take the Anxiety out of Emergency Planning
SAN FRANCISCO--(BUSINESS WIRE)--As California enters the height of wildfire season, PG&E is continuing to offer information to help all Californians protect their homes and communities. In the fourth episode of its new 7 Saturdays to a More Fire-Resistant Home online video series, PG&E Senior Public Safety Specialist David Hawks and Co-Host Alicia Mason dig into how viewers can prepare emergency kits and plans for safe home evacuations.
Customers can stream the show on PG&E’s preparedness website, the Safety Action Center, which provides a wide array of information to help customers keep their families, homes and businesses safe during natural disasters and other emergencies.
Hawks, former CAL FIRE Chief of the Butte Unit, knows firsthand how important it is to have an emergency plan in place. According to Hawks, preparing in advance can ease fear and anxiety and help people respond quicker during an actual emergency. “Every household should have their own emergency plan that they review and update every six months. This includes having at least two emergency exit routes mapped out of your home and community, packing an emergency go-bag and signing up for emergency alerts,” said Hawks.
In this episode, viewers will learn:
Watch the fourth episode now on the Safety Action Center (safetyactioncenter.pge.com). New episodes will launch every week, for seven weeks.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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