HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE:SLB) will hold a conference call on October 21, 2022 to discuss the results for the third quarter ending September 30, 2022.
The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until November 20, 2022, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America and giving the access code 1942759.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
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Media
Moira Duff – Director of External Communication, Schlumberger Limited
Office +1 (713) 375-3407
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DUBLIN--(BUSINESS WIRE)--The "India Hydrogen Fuel Cell Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.
The country research report on India hydrogen fuel cell market is a customer intelligence and competitive study of the India market. Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the India market. Also, factors that are driving and restraining the hydrogen fuel cell market are highlighted in the study.
This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market. Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of hydrogen fuel cell market in India.
Segments Covered
The report on India hydrogen fuel cell market provides a detailed analysis of segments in the market based on type, and application.
Segmentation Based on Type
Segmentation Based on Application
Highlights of the Report
The report provides detailed insights into:
1) Demand and supply conditions of hydrogen fuel cell market
2) Factor affecting the hydrogen fuel cell market in the short run and the long run
3) The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, and technological factors
4) Key trends and future prospects
5) Leading companies operating in hydrogen fuel cell market and their competitive position in India
6) The dealers/distributors profiles provide basic information of top 10 dealers & distributors operating in (India) hydrogen fuel cell market
7) Matrix: to position the product types
8) Market estimates up to 2027
The report answers questions such as:1) What is the market size of hydrogen fuel cell market in India?
2) What are the factors that affect the growth in hydrogen fuel cell market over the forecast period?
3) What is the competitive position in India hydrogen fuel cell market?
4) What are the opportunities in India hydrogen fuel cell market?
5) What are the modes of entering India hydrogen fuel cell market?
Key Topics Covered:
1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for India Hydrogen Fuel Cell Market
3.5. Growth Matrix Analysis
3.6. Competitive Landscape in India Hydrogen Fuel Cell Market
4. India Hydrogen Fuel Cell Market by Type
4.1. Phosphoric Acid Fuel Cells (PAFC)
4.2. Polymer Exchange Membrane Fuel Cells (PEMFC)
4.3. Solid Oxide Fuel Cells (SOFC)
4.4. Direct Methanol Fuel Cells (DMFC)
4.5. Molten Carbonate Fuel Cells (MCFC)
5. India Hydrogen Fuel Cell Market by Application
5.1. Automotive
5.2. Power Storage
5.3. Portable Power
5.4. Material Handling Equipment
5.5. Others
For more information about this report visit https://www.researchandmarkets.com/r/tj9dqk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LOS ANGELES--(BUSINESS WIRE)--#corporatesustainability--Amie Hedblom, Senior Marketing Manager, Corporate Sustainability at Ecolab, is a featured guest this week on the Impact Podcast with John Shegerian. The show is hosted by Shegerian, Co-Founder and Executive Chairman of ERI, the nation’s leading fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company.
Hedblom is responsible for engaging Ecolab associates, customers and stakeholders on how Ecolab technologies and solutions not only deliver business outcomes that matter but do so at the highest economic and environmental return. She has a distinguished track record leading global environmental, social and governance (ESG) reporting efforts and executing marketing campaigns centered around climate change, public health and food safety and security. She first joined Ecolab in 2013 as a chemical engineer and is based out of Ecolab's global headquarters in St. Paul, MN.
“It was an honor and privilege to have Amie on the show,” said Shegerian. “She is a true innovation leader in ESG and sustainability. It was great to hear her unique career story and about the impactful and game-changing work and initiatives she and her colleagues at Ecolab are spearheading. Our audience is sure to be inspired by her the insights she shares in this discussion!”
“Ecolab’s Global Sustainability Network has given a forum to our associates to rally together and meaningfully contribute to Ecolab’s commitment to protect the environment,” said Hedblom. “Joining John Shegerian on the Impact Podcast was a great opportunity to share best practices for employee engagement on sustainability issues, which will hopefully inspire other business leaders to adopt similar initiatives within their organizations.”
Impact Podcast guests are invited as thought leaders to share with listeners first-hand accounts of how they are able to help make the world a better place on a daily basis.
Recent guests have included leaders from Verizon, Best Buy, Samsung, General Motors, Ford, Unilever, Procter & Gamble, Johnson & Johnson, JetBlue, Comerica Bank, Goodyear Tire, Virgin, Dell, GE, IBM, Qualcomm, Nestlé, Texas Instruments, Gap Inc., Timberland, UPS, Hertz, The Hershey Company, FedEx, Intel, NVIDIA, T. Rowe Price, New York City, Beyond Meat, Panasonic, EPAM, Molson Coors, Seventh Generation, the NBA, the US Tennis Association, FICO, Waste Management, and a number of fascinating game-changers, including Martin Luther King III; best-selling author Ryan Holiday; Homeboy Industries founder Father Gregory Boyle; real estate powerhouse and television personality Ryan Serhant; writer/comedian/author Jeannie Gaffigan; ultra-endurance athlete Rich Roll; and hundreds more.
The Impact Podcast with John Shegerian is available for listening on ImpactPodcast.com, Apple’s iTunes, Amazon Music, Google Podcasts, Spotify, libsyn, and as part of iHeartRadio’s digital broadcast, reaching over 120 million users.
For more information, visit ImpactPodcast.com
Media contact: Paul Williams, 310/569-0023, This email address is being protected from spambots. You need JavaScript enabled to view it..
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced (1) recent upgrades by Moody’s Investors Service (“Moody’s”) to the Company’s corporate credit rating and senior unsecured notes and (2) $30 million in additional purchases of the Company’s outstanding senior notes.
Matador’s Credit Rating and Senior Unsecured Debt Upgraded by Moody’s
On September 9, 2022, Moody’s upgraded Matador’s Corporate Family Rating (CFR) from ‘B1’ to ‘Ba3’ and upgraded Matador’s senior unsecured notes from ‘B2’ to ‘B1’. In its September 9, 2022 press release, Moody’s noted, “The upgrade reflects Matador’s increased scale, reduced debt level and improved free cash flow generation ability that should provide greater resilience against volatile commodity prices. Management has taken advantage of higher oil and gas prices to accelerate growth, pay down debt and establish a sustainable shareholder return plan enhancing the company’s overall capital flexibility.” More information regarding Moody’s upgrade of Matador may be found at www.moodys.com.
$30 Million in Additional Bonds Repurchased
Between July 25, 2022 and September 12, 2022, Matador used a portion of its free cash flow to repurchase $30 million of its outstanding senior notes in a series of open market transactions, reducing its outstanding bonds from $892 million at July 25, 2022 (and $1.05 billion originally) to $862 million today. Over the past seven quarters, beginning in the fourth quarter of 2020, Matador has reduced its outstanding debt by $663 million or approximately 44% of Matador’s then total revolving debt and senior notes outstanding.
Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “We are very pleased with Moody’s upgrades to our corporate family rating and senior unsecured notes, which reflect our ongoing commitment to strengthening our balance sheet, repaying debt and returning cash to shareholders. This upgrade also reflects our strong operational execution. We expect to make additional progress on our debt through the opportunistic purchase of bonds during the remainder of the third quarter of 2022. We look forward to sharing our financial results, our operational progress and the growth in value of our oil and natural gas assets as well as our midstream business as part of our third quarter earnings release in late October.”
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; the operating results of the Company’s midstream’s oil, natural gas and water gathering and transportation systems, pipelines and facilities, the acquiring of third-party business and the drilling of any additional salt water disposal wells; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; impact on the Company’s operations due to seismic events; availability of sufficient capital to execute its business plan, available borrowing capacity under its revolving credit facilities and otherwise; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; the operating results of and the availability of any potential distributions from our joint ventures; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and its business; and the other factors which could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Mac Schmitz
Vice President - Investor Relations
(972) 371-5225
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SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO) announced today that it will host a conference call on October 25, 2022 at 10:00 a.m. ET to discuss third quarter 2022 earnings results, which will be released earlier that day, and provide an update on company operations.
Persons interested in listening to the conference call may join the webcast on Valero’s Investor Relations website at www.investorvalero.com.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (“U.S.”), Canada, the United Kingdom (“U.K.”), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which owns a renewable diesel plant in Norco, Louisiana with a production capacity of 700 million gallons per year, and Valero owns 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.6 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments. Please visit www.investorvalero.com for more information.
Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Director – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
Acquisition enhances AMCS’ operations management solutions for utilities and energy sector
LIMERICK, Ireland--(BUSINESS WIRE)--#AMCSNews--AMCS, the leading global supplier of integrated software and vehicle technology for the environmental, recycling, and resources industries, today announced that it has acquired Utility Cloud, a leading U.S.-based utility operations management platform for an undisclosed amount. This acquisition expands AMCS’ strategy to bring technologies to utility customers to help them sustainably manage resources, increase productivity, and enhance their bottom line while improving customer satisfaction.
Utility Cloud provides a cloud-based operations management software platform to enable operators of critical infrastructure to organize, action, and report against critical operational data. Built to maximize efficiency and improve oversight, Utility Cloud helps its global user base to simplify complex regulatory and operational workflows while ensuring the safety of employees and the communities they serve.
“The mission of AMCS is to optimize the sustainable use and production of resources such as water and energy. Our utilities customers are at the forefront of harnessing the benefits of digital transformation, using our technology to modernize their operations. Utility Cloud is a perfect fit within our portfolio of solutions which help utilities manage assets, reduce operational overhead, and increase customer engagement,” said Jimmy Martin, CEO, AMCS.
“AMCS is the ideal catalyst to accelerate the value we bring to our customers and end markets,” said Dan Calano, CEO, Utility Cloud. “Our combined customers will benefit from the expanded capabilities of the global AMCS organization.”
The acquisition follows AMCS’ recent purchase of Utilibill, a purpose-built customer management and billing solution for the utilities industry.
For more information, visit amcsgroup.com/utilities.
About AMCS
AMCS is headquartered in Limerick, Ireland with offices in North America, Europe, and Australia employing over 1000 people across 18 countries. AMCS is a global leader of integrated software and vehicle technology for the environmental, recycling, and resource industries and offers optimization solutions to the broader transport and logistics market. AMCS helps over 4,000 customers globally to reduce their operating costs, increase asset utilization, optimize margins, and improve customer service. Their enterprise software and SaaS solutions deliver digital innovation to the emerging circular economy around the world.
About Utility Cloud
Utility Cloud is the only operations management software built for compliance. Powerful and highly configurable, Utility Cloud lets you automate workflows, track asset health, streamline reporting, avoid errors from manual data collection and stay compliant – quicker and more accurately than ever before. More information can be found at www.utilitycloud.us.
Mark Abbas, CMO
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HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced that its board of directors has elected Mr. Dennis V. Arriola to serve as a board member.
Mr. Arriola has spent more than 28 years in the energy sector, most recently serving as chief executive officer of Avangrid, Inc. Prior to joining Avangrid, Mr. Arriola served as executive vice president and group president and chief sustainability officer at Sempra Energy. Throughout his career, Mr. Arriola has served in a broad range of leadership positions in gas and electric utilities as well as renewables, including as chairman, president and chief executive officer of Southern California Gas Co., senior vice president and chief financial officer of both San Diego Gas & Electric and Southern California Gas Co., vice president of communications and investor relations for Sempra, and regional vice president and general manager of Sempra’s South American operations.
“We are pleased to add Dennis to the ConocoPhillips board of directors,” said Ryan Lance, chairman and chief executive officer. “Dennis brings valuable perspective and expertise in the energy sector, particularly in renewables and low carbon energy. We look forward to his contributions as we deliver on our Triple Mandate of meeting energy transition pathway demand, generating competitive returns on and of capital, and achieving our net-zero emissions ambition.”
Mr. Arriola previously served on the boards of Avangrid, Inc., the California Latino Economic Institute, the U.S. Chamber of Commerce, the California Business Roundtable, the Edison Electric Institute, and the boards of several Sempra operating companies, including Infraestructura Energética Nova, a publicly traded company in Mexico, Luz del Sur SAA, a publicly traded company in Peru, and Chilquinta Energía in Chile.
The appointment of Mr. Arriola increases the number of ConocoPhillips directors to 14, of which 12 are independent. Mr. Arriola will serve on the Human Resources and Compensation Committee and the Audit and Finance Committee of the ConocoPhillips board.
About ConocoPhillips
ConocoPhillips is one of the world’s leading exploration and production companies based on both production and reserves, with a globally diversified asset portfolio. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 13 countries, $94 billion of total assets and approximately 9,400 employees at June 30, 2022. Production averaged 1,720 MBOED for the six months ended June 30, 2022, and proved reserves were 6.1 BBOE as of Dec. 31, 2021. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as “anticipate," “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict," “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from any ongoing military conflict, including the conflict between Russia and Ukraine and the global response to it, or from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; insufficient liquidity or other factors, such as those listed herein, that could impact our ability to repurchase shares and declare and pay dividends such that we suspend our share repurchase program and reduce, suspend, or totally eliminate dividend payments in the future, whether variable or fixed; changes in expected levels of oil and gas reserves or production; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks or unsuccessful exploratory activities; unexpected cost increases, inflationary pressures or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business, including any sanctions imposed as a result of any ongoing military conflict, including the conflict between Russia and Ukraine; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to complete any announced or any future dispositions or acquisitions on time, if at all; the possibility that regulatory approvals for any announced or any future dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of the transactions or our remaining business; business disruptions following the acquisition of assets from Shell (the “Shell Acquisition”) or any other announced or any future dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced or any future dispositions in the manner and timeframe we anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation, including litigation related directly or indirectly to our transaction with Concho Resources Inc.; the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions or developments, including as a result of any ongoing military conflict, including the conflict between Russia and Ukraine; the ability to successfully integrate the assets from the Shell Acquisition or achieve the anticipated benefits from the transaction; unanticipated difficulties or expenditures relating to the Shell Acquisition; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from accidents, extraordinary weather events, civil unrest, political events, war, terrorism, cyber attacks or information technology failures, constraints or disruptions; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Dennis Nuss (media)
281-293-1149
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Investor Relations
281-293-5000
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Award marks first Garmin integrated flight deck system owned and operated directly by the U.S. Department of Defense for military training operations in a tactical jet
OLATHE, Kan.--(BUSINESS WIRE)--Garmin International, Inc., a unit of Garmin Ltd. (NYSE: GRMN), today announced the selection of the Garmin G3000® integrated flight deck by Tactical Air Support, Inc. (Tactical Air) as part of a contract with the U.S. Department of Defense (DOD) F-5N+/F+ Avionics Reconfiguration and Tactical Enhancement/Modernization for Inventory Standardization (ARTEMIS) program. Tactical Air first selected the Garmin G3000 for their F-5 adversary aircraft training fleet in 2018. This recent award builds upon Tactical Air and Garmin’s strategic relationship now serving the DOD fleet of F-5 adversary aircraft. Garmin’s commercial-off-the-shelf (COTS) G3000 open architecture supports integration with a wide range of mission equipment including military sensors, helmet mounted displays, and advanced electrically scanned radar systems.
“It is an honor to team with Tactical Air and have our versatile G3000 integrated flight deck chosen for the ARTEMIS contract with the Department of Defense,” said Carl Wolf, Garmin vice president of aviation sales and marketing. “Garmin is proud to see our integrated flight deck technologies, deployed now on over 25,000 aircraft, also being adopted by the U.S. military and enhancing the mission and safety capabilities of our nation’s warfighters.”
The F-5 is a supersonic, multi-role tactical fighter and attack aircraft that in this role will provide air-to-air combat training, close-air support training, tactical development and evaluation support. The upgraded F-5 Advanced Tiger (AT) will be used in an aggressor training role, and the G3000 will transform the cockpit with one large area display and two touchscreen controllers. These upgrades bring modern safety systems and new tactical capabilities to the older airframes while also solving parts obsolescence and reliability issues within the existing avionics system.
“Tactical Air is thrilled to have Garmin’s cutting edge G3000 in the F-5 AT cockpit,” said RC Thompson, Tactical Air CEO. “The Garmin integrated flight deck gave us an outstanding COTS solution to the Navy and Marine Corps’ recently purchased fleet of F-5 aircraft to make them an even more capable adversary fighter for our aviators to train against.”
The G3000 boasts a large and vibrant high-resolution flight display that seamlessly interfaces to the F-5’s existing mission computer, enabling advanced mapping, tactical radio capabilities, radar display and more. The non-proprietary interface, software-based Human Machine Interface (HMI), and mission integration will enable the DOD to rapidly deploy new technologies in the future, while providing access to the latest in commercial Communication, Navigation, Surveillance/Air Traffic Management (CNS/ATM) capabilities. Tactical Air has integrated the L3Harris ForceX mission computer along with a wide range of military sensors, communications equipment, and weapons systems into the G3000 touchscreen HMI.
In addition to night vision goggle (NVG) compatibility, the G3000 contains modern, state-of-the-art synthetic vision technology (SVT™) that blends an “out-the-window” view of surroundings on the large area, primary flight displays, which is particularly helpful during nighttime operations and during close air support missions. Additional features within the G3000 integrated flight deck on the F-5 include Terrain Awareness and Warning System (TAWS), Traffic Collision Avoidance System (TCAS), Automatic Dependent Surveillance-Broadcast (ADS-B IN) traffic.
For additional information regarding Garmin aviation solutions for government and defense, visit www.garmin.com/defense. For additional information about Tactical Air please visit www.tacticalairsupport.com.
Garmin’s aviation business segment is a leading provider of solutions to OEM, aftermarket, military and government customers. Garmin’s portfolio includes navigation, communication, flight control, hazard avoidance, an expansive suite of ADS-B solutions and other products and services that are known for innovation, reliability, and value. For more information, visit Garmin's virtual Newsroom, This email address is being protected from spambots. You need JavaScript enabled to view it., connect with @garminaviation on social media, or follow our adventures at garmin.com/blog.
About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin and G3000 are registered trademarks and SVT is a trademark of Garmin Ltd. or its subsidiaries.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 25, 2021, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at https://www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Mikayla Minnick
913-397-8200
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today provided an update regarding the company’s expected results for the third quarter ending September 30, 2022.
“These period specific events are expected to negatively impact our reported and adjusted EPS by 18 to 22 cents in the 2022 third quarter,” said Scott Rowe, Flowserve’s president and chief executive officer. “While we are disappointed by these developments, we have confidence that the impact will be largely limited to the third quarter. With respect to the ERP implementation, we have allocated substantial resources to resolve the issues and return the impacted facilities to their traditional production levels. The progress we have made in the past few weeks is significant, which should ensure that the impact to Flowserve and our customers is largely behind us.”
“Despite these challenges, Flowserve has continued to see robust bookings momentum thus far in the quarter, positioning the company to potentially achieve the highest quarterly bookings by value thus far in 2022,” Rowe continued. “The fundamentals of the business are strong, and our traditional end-markets remain supportive, as energy independence and energy security have become national priorities almost globally. In addition, our 3D strategy has proven successful to date and has provided accelerated bookings growth. We expect these trends to continue in future quarters based on the current market environment and that this strength will result in improving financial performance.”
Flowserve will provide updates to its full year target range metrics, as needed, when it reports its Third Quarter 2022 earnings, currently expected to occur in the last full week of October. As previously announced on September 9, 2022, Flowserve will participate in certain investor conferences this week.
About Flowserve
Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon second-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer (972) 443-6560
Mike Mullin, Director, Investor Relations (214) 697-8568
Media Contact:
Morgan Contreras, Director, Corporate Communications (214) 476-0084
The portfolio builds on a multi-year partnership and makes SRE one of the largest energy storage operators in NYC
NEW YORK--(BUSINESS WIRE)--#communitysolar--Leading renewable energy developer and operator, Summit Ridge Energy (SRE), today announced three standalone energy storage projects in New York City in partnership with Qcells, a leading provider of complete energy solutions. The projects, located in Staten Island and Brooklyn, will produce approximately 12 megawatts (MW) and 46 megawatt hours (MWh) of energy capacity as part of New York State’s Value of Distributed Energy Resources (VDER) program.
The projects are under construction and expected to complete commissioning in early 2023, making SRE one of the largest operators of energy storage under the VDER program in New York City. Since 2019, SRE has worked in close coordination with local governments and safety experts to shape legislation to support battery storage development in the city.
The agreement builds on a three-year partnership between SRE and Qcells. Qcells will supply energy storage hardware and energy management software for the projects, including its Geli energy management system (EMS) to optimize performance of the assets under the VDER program guidelines. Geli’s newest software capabilities will allow users to accurately predict the system-wide NYISO peak and export energy to the grid via standalone energy storage systems to support grid flexibility and energy stability in New York. With these projects, the Qcells Geli EMS will be managing one of the largest fleets of dispatchable assets under the VDER program, and will be the first to intelligently address peak hour dispatch for New York in the program’s history.
“The opportunity for energy storage in New York is significant––not only will standalone storage support grid resilience as the state continues to transition to renewable energy, but it will also help reduce reliance on fossil fuel peaker plants and help to regulate grid frequency,” said Brian Dunn, Chief Operating Officer at SRE. “We are thrilled to partner with Qcells on the first of many energy storage projects from our team in New York City, and happy to lead the way for other clean energy advocates looking to expand storage in the state.”
“We are excited to partner with SRE to provide our industry-leading clean energy solutions. With Qcells’ innovative Geli platform designed to maximize project returns with multiple value-stacked applications, coupled with our bankable energy storage systems, we are committed to supporting SRE’s path to becoming an energy storage leader in New York City. We look forward to seeing SRE accelerate the adoption of storage in New York and beyond,” said Ben Brown, SVP of Qcells’ Distributed Energy division.
Like community solar, community storage projects provide additional pathways to renewable energy adoption for residents and businesses, beyond onsite facilities.
The portfolio solidifies SRE’s position as the largest community solar and storage provider in the nation. Since its founding, SRE has grown its portfolio of operational and in-development projects to more than 700 MW of clean energy projects and more than 100 MWh of standalone storage. The company began developing energy storage assets in 2019.
About Summit Ridge Energy
Launched in 2017, Summit Ridge Energy is the nation’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. With over 100 active solar projects across markets, the team has established itself as a reliable industry partner. Since its founding, SRE has grown its portfolio of operational and in-development projects to more than 700 MW of clean energy and more than 100 MWh of standalone storage. Learn more at www.srenergy.com.
About Qcells
Qcells is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Qcells strives to offer Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: www.qcells.com/us.
Qcells North America Distributed Energy
Qcells, through its Distributed Energy division, offers a variety of tailored solutions designed to help organizations unlock new revenue streams and tap into savings potential associated with solar PV + energy storage systems. Qcells partners with a variety of businesses to offer one-stop shop industry-leading hardware and software offerings that help organizations meet financial and sustainability goals, all backed by a Fortune Global 500 company.
Media Contacts
Regan Keller
Summit Ridge Energy
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Mark Sokolove
Qcells
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LONDON--(BUSINESS WIRE)--Energy Impact Partners (“EIP”), a global venture capital firm supporting the transition to a sustainable future, announced today its first global expansion with the launch of its European Fund (“the Fund”), targeting mission-driven companies advancing the net zero carbon economy. EIP has EUR 390 million to deploy in European investments to accelerate the growth of innovative technologies which have the potential to drive the transition towards net zero.
“Europe is leading in the energy transition and is a key market on the road to net zero where we are seeing thousands of investable opportunities. We are thrilled to now be able to partner with brilliant European entrepreneurs to help accelerate the innovations tackling climate change,” said Hans Kobler, Founder & CEO of Energy Impact Partners. “Our model of collaboration across entrepreneurs, industrial partners, and our highly-experienced team should also make it easier for European technologies to access the North American market.”
The Fund will seek growth and venture investments across the continent, targeting mission-driven companies with established products, markets and customers across the full spectrum of the energy transition. This includes high impact European tech companies that contribute to safer, more flexible and cleaner energy sources.
Mirroring the successful strategy of its North American funds, this Fund is structured to enable EIP to partner with European entrepreneurs, supporting their growth and success with a combination of capital and commercial support through EIP’s powerful coalition of industrial firms. EIP’s established presence in North America also offers European companies support to expand in the market and gives founders access to opportunities to exit in North America. Across its platform, EIP has already invested in eleven companies in Europe including:
EIP’s collaborative model brings together a global coalition of over 50 forward-looking corporations who are committed to decarbonize the global economy. The partnership-driven model has a proven track record in driving revenues from EIP’s corporate LPs to portfolio companies. The platform has enabled over 350 contracts and delivered more than $1 billion in bookings and business to a portfolio of 100+ companies. The new Fund will bring the partnership-driven model to the European market.
Contributions to the Fund are drawn from a broad set of institutional investors, impact investors and corporates in a range of industries, including energy, utilities, technology and infrastructure and transport. Amongst others, partners and investors in the Fund include a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), AGL Energy Ltd, APG on behalf of its pension fund client ABP, Chubu, DNV, Électricité de France (EDF) Group through its corporate venture capital arm EDF Pulse Ventures, EWE AG, Ferrovial, Fortum, Galp, Mainova AG, Microsoft’s Climate Innovation Fund, Nysnø Climate Investments – a wholly owned subsidiary of the Norwegian Ministry of Trade, Industry & Fisheries, Shell Ventures and TrønderEnergi AS.
“The energy transition is the most promising investment opportunity of our generation with a global estimated USD $9 trillion to be spent annually. A lot of this money will be spent on new climate-technologies. At EIP, we are deeply rooted in the energy-sector through our industrial coalition and our start-up portfolio. We use this central role to back the brightest founders in their efforts to build the most impactful businesses,” said Matthias Dill, CEO and Co-Managing Partner, EIP Europe.
“We experienced tremendous demand for climate tech as an investment theme among financial and corporate LPs.” said Nazo Moosa, Co-Managing Partner, EIP Europe. “A key challenge for many of these companies is lack of access to larger, more scalable markets. Through our strong foothold in the U.S., and our powerful coalition of industrial partners, EIP’s European Fund is well placed to play a crucial role in scaling up companies to decarbonize asset and carbon intensive industries.”
Brandon Middaugh, Director of the Microsoft Climate Innovation Fund, said: “Microsoft is committed to become carbon negative by 2030. As part of the company-wide efforts, the Microsoft Climate Innovation Fund selected EIP as its first fund investment in climate tech due to the shared vision of a digitized, decarbonized energy system of the future, which will be essential in the clean energy transition.”
Dr. Urban Keussen, Chief Technical Officer of EWE AG, said: “These days the energy transition is becoming even more important not only to reduce CO2 emissions but to replace fossil molecules with green ones and to reduce energy dependency on individual countries. EWE is engaged with EIP to learn from the best, partner with start-ups and collaborate with other industrial investors for the benefit of our customers.”
About Energy Impact Partners
Energy Impact Partners LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and many of the world's most forward-looking energy and industrial companies to advance innovation. With over $2.5 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of over 70 professionals based in its offices in New York, San Francisco, Palm Beach, Washington DC, London and Cologne. For more information about Energy Impact Partners and the European Fund, please visit www.energyimpactpartners.com
¹ European EDF Pulse Ventures identifies new activities and innovative solutions and the related investments are carried by the EDF Pulse Holding.
Lindsay Jepp - Kekst CNC
+44 07890 058 325
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SAN ANTONIO--(BUSINESS WIRE)--Stakeholder Midstream (“Stakeholder”), has received approval from the U.S. Environmental Protection Agency (“EPA”) for its monitoring, reporting and verification (“MRV”) plan for the permanent sequestration of carbon dioxide (“CO2”) at its Pozo Acido injection well located in the Permian Basin near the Texas-New Mexico border. This is the first MRV plan approved by the EPA for permanent geologic sequestration of CO2 within the state of Texas that is not associated with enhanced oil recovery operations.
Stakeholder’s MRV plan documents how the company will ensure permanent carbon capture and storage (“CCS”) of CO2 in the Pozo Acido well from natural gas that is processed and treated at Stakeholder’s Campo Viejo gas plant. The MRV approval, in conjunction with meeting other statutory requirements, will allow Stakeholder and other parties who contract to permanently sequester CO2 in the Pozo Acido injection well, to qualify for 45Q tax credits, further facilitating the growing movement toward more responsible energy production. Stakeholder is currently developing the final phases of its carbon capture equipment buildout with plans to install additional facilities in 2023.
Stakeholder’s Pozo Acido well is a state-of-the-art injection well designed to permanently sequester CO2 by injecting the greenhouse gas into the Devonian formation more than two miles below surface and 10,000 feet below the water table. Stakeholder operates two permanent sequestration wells responsible for the secure geologic storage of more than 85,000 metric tons per year of carbon dioxide. This effort is equivalent to eliminating the carbon emissions of 11,000 U.S. households or removing 18,000 internal combustion vehicles from the road.
Stakeholder’s CCS Assets Are Uniquely Positioned to Assist Others in Managing Their Carbon Intensity
The company’s Pozo Acido well is located adjacent to the Kinder Morgan Cortez pipeline, which spans three states and is capable of transporting 1.5 billion cubic feet of CO2 per day. Other major CO2 transport lines in immediate proximity include the Occidental Petroleum Bravo and Sheep Mountain pipelines, Kinder Morgan Central Basin pipeline and Trinity CO2 pipelines. The very close proximity of these pre-existing CO2 transportation options to Stakeholder’s CCS infrastructure creates opportunity for Stakeholder to service third-party carbon sequestration customers in and beyond the Permian Basin. [See regional CO2 system map here.]
“Carbon and emissions management is an integral focus and business segment for our company,” said Stakeholder Midstream Chief Commercial Officer Brett Baker. “We believe that by offering these services to third parties, including other gas processing plants in the Permian region and beyond, we can provide an environmentally responsible solution for CO2 emitters to reduce the carbon intensity of their oil and gas operations and to meet their ESG goals. Our vision is to become one of the leading carbon solutions providers in the United States by helping producers and like-minded midstream companies across multiple basins decarbonize their operations.”
About Stakeholder Midstream, LLC
Based in San Antonio and founded in 2015, Stakeholder Midstream is an independent midstream company serving oil and gas producers operating throughout North America. Stakeholder’s vision of success is built on fostering strong, long-term relationships with all constituents. Stakeholder cultivates these relationships based on trust, accountability and fairness to ensure that all stakeholders are heard, valued and served. Capabilities include in-field natural gas gathering, compression, treating and processing services; innovative NGL solutions; crude oil gathering, transportation, and storage; and carbon capture and sequestration services. Stakeholder is backed by growth capital commitments from EnCap Flatrock Midstream. www.stakeholdermidstream.com
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Redbird Communications
Bevo Beaven
Mobile: 720-666-5064
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DUBLIN--(BUSINESS WIRE)--The "Global Engine Oil Additives Market (2022-2027) by Type, End User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Engine Oil Additives Market is estimated to be USD 10.94 Bn in 2022 and is expected to reach USD 13.32 Bn by 2027, growing at a CAGR of 4.01%.
Market Segmentations
The Global Engine Oil Additives Market is segmented based on Type, End User, and Geography.
Countries Studied
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Engine Oil Additives Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach. The analyst analyses the Global Engine Oil Additives Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position. Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Engine Oil Additives Market, By Type
7 Global Engine Oil Additives Market, By End User
8 Americas' Engine Oil Additives Market
9 Europe's Engine Oil Additives Market
10 Middle East and Africa's Engine Oil Additives Market
11 APAC's Engine Oil Additives Market
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/mzi27c
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Brightmark and Buoy Team to facilitate recycling of inoperative mooring, boundary, and informational buoys in the Florida Keys
SAN FRANCISCO & FLORIDA KEYS, Fla.--(BUSINESS WIRE)--Brightmark LLC, the global waste solutions provider, and Florida Keys National Marine Sanctuary (FKNMS), today announced a new plastic recycling partnership that will reduce landfill waste and amplify concerns about ocean plastics.
The sanctuary’s buoy team is responsible for maintaining the mooring and informational buoys throughout the Florida Keys National Marine Sanctuary. These buoys mark ecological reserves and also provide an option for boats engaged in fishing, diving, snorkeling or conducting research to tie up to as opposed to anchoring, which protects the reefs below. Previously, when these buoys reached end-of-life status, they were sent to landfills as they were considered too difficult to recycle. However, through this new partnership with Brightmark, FKNMS buoys and downlines will be recycled for the first time and converted into new circular plastics and lower-carbon fuel, and wax, allowing for cleaner waters and reduced plastic waste in landfills.
The partnership’s launch follows a successful pilot phase, with an initial goal to recycle plastic buoys and downlines annually from the sanctuary's upper and lower Keys locations, effectively and sustainably decreasing marine plastic pollution in the Florida Keys and increasing plastic recycling. By recycling these buoys and downlines into materials for new products instead of being sent to a landfill, Brightmark and FKNMS are taking meaningful and tangible steps to aid in handling the plastic waste crisis. Ultimately, Brightmark and FKNMS aim to expand this program nationally.
“Our partnership with the sanctuary is an essential and first-of-its-kind collaboration that will pull and divert plastic from our oceans,” said Bob Powell, Brightmark Founder and Chief Executive Officer. “This program is another proof point of how our innovative advanced recycling technology can play a critical role in ‘Reimaging Waste’ to solve the plastic waste crisis in our oceans with a truly circular solution.”
“This initiative elevates our commitment to protect the environment,” said Sarah Fangman, Florida Keys National Marine Sanctuary Superintendent. “I’m proud that buoy team member Benjamin D'Avanzo recognized the need for a sustainable alternative to our plastics waste and pursued this partnership with Brightmark.”
To commemorate the partnership, Brightmark has produced a short documentary on the buoy team which will be available to view today. This documentary will follow the daily operations of the FKNMS Buoy Team, starting with the buoy maintenance and how the mooring materials are sent to be recycled through Brightmark - highlighting the all-important work of NOAA in the Florida Keys, as well as the innovative solutions provided by Brightmark.
For additional information and to access video content covering the partnership, click here.
ABOUT BRIGHTMARK
Brightmark LLC is a global waste solutions company with a mission to Reimagine Waste. The company takes a holistic, closed loop, circular economy approach to tackling the planet’s most pressing environmental challenges with imagination and optimism for the future. Through the deployment of disruptive, breakthrough waste-to-energy solutions focused on plastics renewal (plastic-to-plastic) and renewable natural gas (organic waste-to-fuel), Brightmark enables programs specifically tailored to environmental needs in order to build scalable project solutions that have a positive impact on the world and communities in which its stakeholders live and work. For more information, visit www.brightmark.com.
ABOUT FKNMS
Florida Keys National Marine Sanctuary is one of 16 marine protected areas that make up the National Marine Sanctuary System. Administered by NOAA, a federal agency, and jointly managed with the State of Florida, Florida Keys National Marine Sanctuary protects 3,800 square miles of waters surrounding the Florida Keys, from south of Miami westward to encompass the Dry Tortugas, excluding Dry Tortugas National Park. The shoreward boundary of the sanctuary is the mean high-water mark, which means once you set foot in Keys waters, you have entered the sanctuary.
Brightmark
Cory Ziskind
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t. (646) 277-1232
NOAA/Florida Keys National Marine Sanctuary
Scott Atwell
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t. (850) 694-0406
AUSTIN, Texas--(BUSINESS WIRE)--As the Inflation Reduction Act increases investments in and deployments of climate tech, Yotta Energy is debuting three new products that will not only propel the renewable energy industry forward by providing simplified solar, storage, and electric vehicle technologies but also position the company as a single, one-stop provider for clean energy services for commercial properties.
The company’s new solutions include the new Yotta DPI-208 and DPI-480, a native 3-phase microinverter for commercial solar and storage applications; Yotta EV a line of commercial EV chargers offering a simplified level 2 charging experience ideal for fleets; and Yotta REV a solar-powered EV Charging Station that can be deployed in less than 48 hours and deliver up to 510 miles of solar-powered charging daily and is grid optional.
“With the e-mobility market projected to grow to more than $1.5 trillion by 2028, we believe that the future of EV charging, solar, and energy storage will be synergistic for businesses,” said Omeed Badkoobeh, CEO of Yotta Energy. “To meet this demand and to strengthen the existing grid, Yotta is rolling out a suite of products, including commercial EV chargers and rapid EV charging solutions, to support these electrification goals and create a one-stop shop for all of our customers’ renewable energy needs. By introducing these solutions to the market, we are creating an ‘Energy Made Simple’ ecosystem.”
Developed to meet the rapidly growing market demand, all three products will be commercially available in Q1 2023 for installation throughout the continental United States and are built to deliver a higher return on investments (ROI) for customers wanting to deploy solar and electric vehicle technologies. In addition, because the electric vehicle charging stations use solar power, they are eligible for incentives under the Inflation Reduction Act.
Yotta DPI-208, DPI 480 (Dual Power Inverter)
Yotta’s new DPI line of 3-phase micro inverters that can accommodate up to four High-Capacity PV Modules, each up to 525W+. The Dual Power Inverter also integrates directly with Yotta’s SolarLEAF Energy Storage Technology and is UL-1741 (SA) compliant. This utility-interactive microinverter has Reactive Power Control (RPC) technology that exceeds recent NEC Rapid Shutdown requirements. Yotta’s DPI can be installed 300 percent faster than other products on the market and has a maximum continuous output of up to 1800VA. Micro-inverters are a safe bet over high-voltage string inverters and eliminate the risk for DC arc faults.
Yotta EV (Commercial EV Charger)
Yotta’s commercial line of EV chargers include the single port and dual port charger designed for ease of installation, functionality, and reliability. These commercial charging solutions are rated at 48A (11.5kW) but can be adjusted to 40A, 32A, and 16A to accommodate more chargers into existing electrical infrastructure saving on costly upgrades. The single charger can be wall mounted or pedestal mounted using Yotta’ custom mounting solution. The dual charger comes with a 4.3” full LCD and robust mount with retractable cord system. Using Wifi or 4G, the chargers seamlessly connect to Yotta’s software management platform to reduce demand charges alongside solar+storage. By combining EV charging installation with solar+storage installation, end customers get the best value from a comprehensive solution.
Yotta REV (Solar Powered EV Charging Station)
REV is an integrated, scalable charging solution designed around solar production capacity that can be grid-connected or operate completely off-grid. REV has an East-West bifacial panel design that optimizes direct and indirect sunlight for maximum solar energy optimization. The charger is always connected and monitored via 4G or satellite and is designed to work year-round in all weather conditions due to Yotta's patented core battery thermal technology.
This customizable solar-powered EV station has the ability to be deployed in remote, off-grid locations as well as within urban areas because of its 48-hour rapid deployment. Users have access to between 240 and 510 miles of solar charge daily and 50 to 300 kWh battery capacity. REV also qualifies for the recent Inflation Reduction Act incentives with its combination of solar + storage + e-mobility charging that utilizes Yotta’s power conversion and solar system design. Each REV station has a 10-year warranty and is operated via a remote fleet monitoring system.
“Our goal was to create the most aesthetic products that make solar energy extremely easy to use and functional,” said Emilio Collado, Head of Design at Yotta Energy. “To develop each of these products, we leaned on exhaustive customer feedback and user experience of consumers and businesses considering the purchase of EVs, needing to meet an increased demand for electricity, or seeking to reduce greenhouse gas emissions. This launch establishes Yotta as the single, go-to resource for clean energy products as the company grows and transitions into the e-mobility space.”
Beyond releasing these three new solutions, Yotta recently announced an award of $1.23 million from the California Energy Commission (CEC) to develop solar and energy storage technologies for an underserved community in Santa Ana, California. Yotta will also be participating in the RE+ event and will be exhibiting at booth #3648.
About Yotta Energy
Headquartered in Austin, Texas, Yotta Energy is delivering a green future with ‘Energy Made Simple’ solutions that incorporate solar, energy storage, and electric vehicle charging technologies into commercial buildings. Yotta has developed a unique PV-Coupled™ architecture, a smart energy storage solution designed to scale with rooftop solar PV projects effortlessly, in addition to a number of electric vehicle charging products to create a holistic ecosystem of renewable energy technologies. Yotta's technology features advanced thermal management to maintain an optimal working temperature even under extreme outdoor conditions. As an integrated software plus hardware solution, Yotta also helps address grid outages by enhancing grid resilience and reliability. Yotta’s technology allows for a much lower total installation cost for rooftop solar-plus-storage and EV charging infrastructure than that available by any other current providers today. Learn more at www.yottaenergy.com.
Technica Communications for Yotta Energy
Jake Wengroff
408-806-9626 ext. 6816
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LOVELAND, Colo.--(BUSINESS WIRE)--$ZEV #commercialevs--Lightning eMotors (NYSE: ZEV), a leading provider of zero emissions medium duty commercial vehicles and electric vehicle technology for fleets, announced today it will now offer a second generation repower program for high-demand 40-foot transit buses. This new offering in Lightning’s growing lineup of Class 3-8 commercial electric vehicles will be available to municipal and private transit agencies throughout North America.
By repowering existing transit buses from diesel or CNG internal combustion to zero-emission battery-electric powertrains, Lightning will help transit customers electrify their fleets at less than half the cost and in one-third the lead time of acquiring new electric buses. Repowered buses will feature an up to 560-kWh battery system and deliver more than 200 miles of real-world range on a single charge.
While repowering diesel-powered commercial vehicles has been common practice for many years, due to the chassis and body often outlasting the powertrains, repowering these vehicles with electric powertrains presents a fast, affordable and environmentally responsible opportunity for many fleet operators.
Lightning eMotors is a proven manufacturer in the public transit market, having deployed over 300 new and repowered vehicles across multiple sectors, including full-sized transit, micro-transit, last mile delivery, emergency response, school buses and others. A leader in repowering commercial vehicles since 2008, Lightning produced the first repowered electric transit bus, deployed in Colorado for the city of Boulder in 2018. This first-generation vehicle is still in operation today and continues to provide valuable proof-of-concept data over thousands of miles and service routes. Lightning has since become a preferred provider of commercial vehicle electrification via its certified repower programs for motor coaches, school buses and recreational vehicles with market leading partners including Blue Bird, Forest River, Collins Bus and ABC Companies.
“Lightning’s transit bus repower program provides transit agencies a significantly more affordable and faster way to electrify their bus fleets and ensure clean and quiet operation for passengers and pedestrians alike,” said Mac Burns, director of product management, Lightning eMotors. “With increasing pressure to reduce carbon emissions and offer clean transportation solutions, we are confident fleet operators will see the sustainability benefits of converting existing diesel-powered vehicles to electric power rather than letting them end up in a landfill.”
Customers who choose Lightning eMotors repowered transit buses will qualify for the same federal and state funding as new electric buses, including the Federal Transit Administration’s Low and No Emission Vehicle Program. Lightning will advise customers on how to best leverage the government incentives currently available.
“There has never been a better time for transit fleet operators to accelerate the transformation of their fleets to zero-emission electric,” said Nick Bettis, director of marketing and sales operations for Lightning eMotors. “Available federal and state-level funding provides a much-needed solution to the financial challenge in electrifying fleets in this sector and, with Lightning’s Transit Repower program, fleet managers can extend the lifecycle of current fleets quickly, affordably and responsibly versus new purchases.”
Lightning will repower the buses at its Loveland, Colorado, factory or at one of Lightning’s Authorized Repower Partners located nationwide. Additionally, for large fleets that want to repower a large quantity of buses, Lightning can train the fleets’ maintenance teams to install Lightning’s electrification kit on their own.
Additionally, Transit Repower operators will also have access to Lightning’s full suite of complementary products and services, including Lightning Insights open API fleet telematics software, Lightning Energy stationary chargers and Lightning Mobile portable chargers.
The first repowered buses under this program are expected to deploy in 2023.
About Lightning eMotors
Lightning eMotors (NYSE: ZEV), based in Loveland, Colorado, has been providing specialized ad sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, Class 4 and 5 cargo vans and shuttle buses, Class 4 Type A school buses, Class 6 work trucks, Class 7 city buses, and motor coaches. The Lightning eMotors team designs, engineers, customizes, and manufactures zero-emission vehicles to support the wide array of fleet customer needs including school buses and ambulances, with a full suite of control software, telematics, analytics, and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency. Lightning eMotors also offers charging technologies and “charging as a service” (CaaS) to commercial and government fleets via its Lightning Energy division. To learn more, visit https://lightningemotors.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include, but are not limited to, the expected production capacity by the end of 2022 and 2025, the expected doubling of Lightning eMotors’ workforce by the middle of 2022, and Lightning eMotors’ expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future business plans. 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 certain assumptions and analyses made by the management of Lightning eMotors in light of their respective experience and perception of historical trends, current conditions and expected future developments and their potential effects on Lightning eMotors as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Lightning eMotors will be those anticipated. These forward-looking statements contained in this press release are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and other factors include, but are not limited to: (i) those related to Lightning eMotors’ operations and business and financial performance; (ii) the ability of Lightning eMotors to execute on its business strategy and grow demand for its products and revenue; (iii) the potential increases in costs or shortage of materials required to develop and manufacture Lightning eMotors’ products; (iv) the potential severity, magnitude and duration of the COVID-19 pandemic as it affects the business operations, global supply chains, financial results and position of Lightning eMotors and on the U.S. and global economy; (v) current market conditions and federal, state, and local laws, regulations and government incentives, particularly those related to the commercial electric vehicle market; (vi) the size and growth of the markets in which Lightning eMotors operates; (vii) the mix of products utilized by Lightning eMotors’ customers and such customers’ needs for these products; (viii) market acceptance of new product offerings and whether this will be a catalyst for others to purchase electric vehicles and (ix) the rate at which customers deploy its electric vehicle. These and other risks are described more fully in Lightning eMotors’ filings with the Securities and Exchange Commission and other documents that it subsequently files with the SEC from time to time. Moreover, Lightning eMotors operates in a competitive and rapidly changing environment, and new risks may emerge from time to time. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Lightning eMotors undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Lightning eMotors news media contact:
Nick Bettis
(800) 223-0740
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CAMPBELL, Calif.--(BUSINESS WIRE)--With recent reports indicating the United States needs 20 times more electric vehicle (EV) charging stations than what’s available today, Paired Power announced the launch of its new, transportable solar canopy, PairTree, with built-in EV charging capabilities. With its modular, fast-install design, PairTree can be utilized with or without grid connection and gives customers quick and convenient access to the infinite renewable energy of the sun without the costly construction and infrastructure requirements of traditional solar canopy installations.
EV charging is one of the primary use cases for PairTree. It is designed to optimize EV charging loads to deliver up to 75 miles of daily range to an EV, well above the U.S. daily commuter national average of 30 miles, according to a 2022 McKinsey & Company Report. For greater resiliency and reliability, PairTree also supports the integration of up to 40 kWh of LFP (lithium iron phosphate) batteries. The addition of a battery can extend the EV’s daily range delivered to up to 230 miles. PairTree’s modular design is available in 5 kW units, using ten bifacial solar panels each, and can be equipped with customizable specifications, such as branding, lighting and media options, depending on the customer’s operational needs.
“With traditional solar canopies, locations can wait as long as two years to be connected to the local utility grid, just to use their chargers,” said Tom McCalmont, CEO and co-founder of Paired Power. “The installation of traditional EV chargers and solar canopies is a time and labor-intensive process, not to mention the disruption and delays of construction. We designed PairTree to eliminate these hassles and make the transition to solar and EV charging simple and scalable while also being modular enough to accommodate future needs.”
PairTree can be installed within a single workday with just two workers using standard hand tools and without lengthy permit approvals or heavy equipment. That is at least 30 times faster than conventional solar canopies, which require an extensive permitting and construction process. The solution is designed to fit a variety of applications, including EV charging access in locations that have either maxed out their local grid capacity or that lease their property and don’t want to invest in permanent infrastructure, such as workplaces and retail locations. PairTree also can provide emergency backup power and temporary power for events.
The ballasted steel foundation allows customers to avoid costly foundation work and permitting delays and can be deployed anywhere in the U.S. and globally as it can withstand various climates and environmental conditions. PairTree offers additional options of batteries or ground screws to secure the charger in high winds. Moreover, PairTree is designed to be installed side by side in multi-unit configurations for additional energy output to power additional chargers.
“One of the biggest benefits of PairTree’s solar canopy design and model is that you can start charging on day one,” continued McCalmont. “EV charging is no longer a fringe benefit for any location where a car might park; it’s quickly becoming a service that both average citizens and employees expect. There are various reasons why site owners don’t want to wait or might have restrictions on grid-connected EV charging or conventional solar canopies, and PairTree is the solution to bring any location quickly into the EV future.”
PairTree is also designed with minimal maintenance needed since there are no moving parts, and the cellular cloud connectivity gives Paired Power the ability to make updates and run diagnostics remotely - all of which are included with the purchase of PairTree. AC charging stations are offered to support Level 2 charging, and 120V outlet panels can be added to support emergency or temporary power. Customers also have access to online support and payment methods through the Paired Power app developed in partnership with EvGateway.
As part of its efforts to expand solar EV charging nationwide, Paired Power has installations from its family of products throughout Northern and Southern California. This announcement also comes on the heels of Paired Power’s first direct-DC off-grid solar PV electric farm tractor charging project that was completed in 2021 in central California.
Orders for PairTree can be placed now and are expected for general delivery starting in Q2 2023.
About Paired Power
Paired Power is a leading provider of solar-powered EV charging products, including its pop-up solar canopies. Since its founding in 2015, the company has been dedicated to providing flexible and affordable EV charging solutions that can be installed in less time and at lower cost than other solutions in the market. The company has a proven track record of creating flexible and solar-powered, off-grid EV charging canopy solutions for a variety of markets, including municipalities, workplaces, and public and private fleets. The company’s SunStation products are the world’s first 100% solar EV chargers designed to deliver more renewable power to EVs than is available from the grid. Visit www.PairedPower.com for more.
Lauren Nickl
Technica Communications
408-806-9626 Ext. 7052
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“Virtual Ride and Drive” to Showcase Company’s Hypertruck ERX Powertrain Solution
AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, will host a Virtual Ride and Drive event today, September 13, at 11:00 a.m. ET / 10:00 a.m. CT.
The all-virtual event will feature a tour of Hyliion’s headquarters in Austin, Texas, and product demonstrations of the Company’s Hypertruck ERX. Additionally, Hyliion’s Chief Executive Officer, Thomas Healy, will present an updated investor presentation, followed by a live question-and-answer session.
Hyliion’s Virtual Ride and Drive
Date: Tuesday, September 13, 2022
Time: 11:00 a.m. ET / 10:00 a.m. CT
Register for and access the Virtual Ride and Drive here:
https://hyliionvirtualrideanddrive.open-exchange.net/welcome
Following the Virtual Ride and Drive, the Company will post a replay of the event and an updated investor presentation to Hyliion’s investor relations website.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Ryann Malone
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(833) 495-4466
Sharon Merrill Associates, Inc.
Nicholas Manganaro
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(617) 542-5300
In partnership with leading endowments, pensions, insurance companies and institutional investors
Nearly $220 million already committed to businesses leading decarbonization
REDWOOD CITY, Calif. & NEW YORK--(BUSINESS WIRE)--#ESG--SER Capital Partners (SER), a private investment firm dedicated to sustainability, today announced the final closing of its SER Capital Partners I, LP and affiliated vehicles. SER raised a total of $475 million in support of its strategy to meaningfully capitalize middle-market businesses and infrastructure assets. SER’s inaugural fundraise exceeded its stated target with the support of aligned and well-capitalized limited partners that include a diverse group of leading endowments, state pensions, insurers, health systems and family offices.
SER invests and enhances value in businesses positioned to meet the growing demand for economic and sustainable assets, products, and services across North America. SER is led by four partners – Rahul Advani, Sara Graziano, Christopher Smith and Rhem Wooten – who bring meaningful overlapping experiences to SER. Each has successfully pioneered sustainability-focused investments and held key executive operating roles at public and private businesses over the last two decades.
“We collectively built SER to meet the critical market need for an experienced and aligned private investment firm dedicated to sustainable, environmental and renewable sectors,” said Rahul Advani, SER’s founder and Managing Partner. “We are committed to economically meeting the burgeoning customer demand for decarbonized, distributed, digitized, and electrified solutions.”
SER has already directly originated investments in four portfolio companies. These businesses collectively implement and manage battery storage, EV charging infrastructure, energy efficiency and solar assets.
“Looking ahead, we see a myriad of compelling investment opportunities that move us beyond legacy industrial processes heavily reliant on fossil fuels and subject to extreme commodity volatility – including those benefitting from the supportive patchwork of local, state, regional and recently expanded federal policies. Importantly, we are enthusiastic about our ability to invest in teams, businesses and assets that are poised to deliver attractive returns and protect our energy security and climate future,” Advani continued.
Metric Point Capital, a boutique private capital advisory firm, served as the placement agent. DLA Piper represented SER in connection with the fund formation.
About SER Capital Partners
SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North American sustainable industrial, environmental, and renewable businesses. Over the past two decades, its team members have amassed successful experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to actively create attractive investments underpinned by critical assets while also authentically measuring and improving key sustainability metrics in line with the UN Principles for Responsible Investing. SER is also committed to aligning interests across its investors, team members, portfolio company management teams, and communities. More is available at www.sercapitalpartners.com.
About Metric Point Capital (Member FINRA and SIPC)
Metric Point is a boutique private capital advisory firm that specializes in raising institutional capital and executing transactions across the full spectrum of primaries, secondaries, and other liquidity solutions for alternative investment managers.
SER Capital Partners
Gil Melman
(713) 304-2396
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Metric Point Capital
Alex Leykikh, Partner
(860) 478-7359
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DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client Proctor Sales, Inc. to AH Equity Investments. The acquisition closed August 1, 2022.
Proctor Sales (PSI), located in Lynwood, Washington, and operating from four additional locations (Seattle, Portland, Spokane, Anchorage), is a full-service manufacturers’ representative distributing boilers, burners, pumps, controls, steam process accessories, and related mechanical room equipment. The Company also provides combustion system maintenance and custom fabrication services.
Located in Hickory, North Carolina, AH Equity Investments (AH), is the United States holding company for Alternative Holdings, a Panama based permanent capital vehicle. AH enters each partnership with the intention of never selling. They are a holding company with no exit dates. Due to their long-time horizon, the culture of a potential company is just as important as its financials.
AH is always looking to acquire growing, profitable, privately held companies with proven business models, records of revenue and earnings growth, and a plan to sustain that growth. They prefer to work with the current management team or promote from within and are open to purchasing outright the business or partnering with the current owners for future growth.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham and his team, led by Managing Director, M&A, Cole Preston with the support of Sr. Managing Director - Western Region, Lori Galloway closed the transaction. Executive Managing Director, Tom Braun established the initial relationship with PSI.
“The principals of Proctor have built an outstanding, multi-location organization with a long track record of achievement serving the expansive Pacific Northwest and beyond, and one that prospered during the challenging pandemic of 2020 and 2021,” said Preston.
Preston added, “AH Equity Investments is an excellent operator serving customers and clients internationally and are well positioned to grow Proctor and their portfolio holdings into the future. The professional advisors on both sides contributed to a much-appreciated, smooth transaction process.”
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 300 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
Carl Doerksen
972-342-0968
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