LEMONT, Ill.--(BUSINESS WIRE)--Energy generation and use in the U.S. is undergoing a rapid transformation in response to concerns about climate change. Carbon-free energy sources, such as wind, solar and nuclear power, are being pursued to reduce carbon emissions and improve the resiliency of power generation under extreme weather events caused by a warming planet. In September 2022, the U.S. Department of Energy’s (DOE) Argonne National Laboratory has launched a long-term agreement with Constellation to evaluate trends in the country’s energy system and develop technologies for more efficient, carbon-free power generation.
Constellation’s generation fleet powers approximately 20 million homes. Its retail business serves two million residential, public sector and business customers, including three fourths of the Fortune 100. The Cooperative Research and Development Agreement (Agreement) between Constellation and Argonne will support various projects through October 2028.
One such project will focus on the use of hydrogen from nuclear power to store and transmit energy in back-up power, transportation and a variety of other applications. Researchers at Argonne are already working with Constellation to assess market demand for hydrogen as well as the environmental and economic impacts of hydrogen production, storage and delivery.
“Clean hydrogen produced from carbon-free nuclear has the power to transform difficult-to-decarbonize industries. By combining Constellation’s nation-leading carbon-free energy resources with electrolysis technologies and Argonne National Laboratory’s technical expertise, we have an opportunity to deliver real world solutions to combat the increasing threats of climate change,” said Colleen Wright, Vice President of Corporate Strategy for Constellation.
By providing a legal framework and laying out intellectual property agreements, the Agreement allows Argonne and Constellation to quickly launch projects and pivot to address emerging challenges and opportunities in the nation’s rapidly changing energy system. In addition, the six-year timespan enables the parties to grow and expand their work to build on successes from previous projects, paving the way for Constellation to become a leader in emerging power technologies.
But perhaps the biggest impact of this Agreement is the pipeline it establishes for developing and applying innovative technologies that can help decarbonize the United States’ energy system.
“This Agreement can help align our research and development at the laboratory, because it gives us much better insight into what industry actually needs. The industry benefits because they get the power of Argonne National Laboratory’s capabilities and expertise to address specific technical issues that they may have,” says Mark Petri, Grid Security and Resilience Lead at Argonne.
Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
This email address is being protected from spambots. You need JavaScript enabled to view it.
Office: 630.252.5580
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced the FF 91 Futurist, the Ultimate Intelligent TechLuxury EV, was officially certified to have a robust rating of 381 miles of EV range from the U.S. Environmental Protection Agency (EPA). This rating is a significant increase from the company’s previous estimates and makes the FF 91 a leader in miles of range in the luxury electrified vehicle market.
“The confirmation of our 381 miles of range by the EPA is truly exciting news for FF and validates what we know about the FF 91: the segment-leading FF 91 will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “Our integrated propulsion system with a lithium-ion battery pack efficiently converts battery energy to power the vehicle and effectively recovers and reuses brake energy to optimize and extend range. FF’s segment-leading engineering provides a significant step forward in electric vehicle technology, providing a tremendous increase in EV range.”
FF 91’s propulsion architecture was designed to achieve unmatched levels of performance and efficiency, completed with 381 miles of range. The system produces 1,050 horsepower and accelerates the car from zero to 60 mph in less than 3 seconds. FF 91’s EV range is based on a vehicle that is fully equipped, with amazing power, 22-inch wheels, loaded with technology, luxurious interior space, and features that set it apart from all others. FF has tested and developed this car to offer the user a smart device on wheels with luxury, technology, performance, and superb emission-free EV range.
The FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is currently in pre-production at the FF ieFactory California. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, the Netherlands, China, Belgium, Switzerland and more.
“Completing this certification by the United States Environmental Protection Agency is a huge step in getting this car in the hands of our users, and I couldn’t be more proud of our team. We are excited by these outstanding range results, which speak to the quality of our design and product execution,” added Breitfeld.
Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/
Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future is a class defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.
FOLLOW FARADAY FUTURE:
https://www.ff.com/
http://appdownload.ff.com
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, and include (among others) statements regarding the expected timing of the launch of FF 91 and FF 81 vehicles and anticipated production capacity of the Company’s Hanford, California facility. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to close on its previously announced convertible notes financing, raise additional convertible notes and/or other financing the failure of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s ability to obtain the financial viability exception or stockholder approval under Nasdaq Rule 5635 to issue all of the shares issuable upon conversion of the above mentioned convertible notes; the Company’s ability to remain in compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the SEC investigation relating to the matters that were the subject of the Special Committee investigation; the implementation of the Special Committee’s actions and related internal review by the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; and the ability of the Company to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-1/A filed on August 30, 2022, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investors (English): This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors (Chinese): This email address is being protected from spambots. You need JavaScript enabled to view it.
John Schilling
Media: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tim Gilman
Media: This email address is being protected from spambots. You need JavaScript enabled to view it.
Grantham Foundation, Crowley and Berge Bulk support development of novel onboard carbon capture technology to decarbonize shipping
LOS ANGELES--(BUSINESS WIRE)--Carbon Ridge, Inc., a leading developer of modular onboard carbon capture & storage solutions (OCCS) for decarbonizing the maritime industry, today announced the Company has raised $6M in funding led by the Grantham Foundation for the Protection of the Environment, with additional investment from Crowley, a leading U.S.-based shipping and logistics company, and Berge Bulk, one of the world’s largest dry bulk owners, as well as Rusheen Capital Management and Plug and Play Ventures. The financing enables Carbon Ridge to continue development of the Company’s OCCS technology for an onboard pilot in 2023.
“We believe onboard carbon capture & storage will be the lowest cost and most efficient pathway to achieve near-term decarbonization in the maritime industry. We are very excited about partnering with The Grantham Foundation, Crowley and Berge Bulk, as leaders in their respective sectors, each with strong commitments to long-term climate stabilization,” said Chase Dwyer, Founder & CEO of Carbon Ridge.
Kevin Tidwell, managing director at Grantham Foundation, said, “Shipping will be one of the most difficult industries to decarbonize. We believe that Carbon Ridge’s maritime carbon capture systems will be cost-effective, ubiquitous and ultimately bend down the curve of shipping emissions.”
“Crowley’s ambition is to become the most sustainable and innovative maritime, logistics company in the Americas. Investing in and developing cleaner, low-carbon solutions will be critical in reaching the maritime industry’s decarbonization goals. Carbon Ridge’s novel approach to significantly lessen the impact of maritime emissions aligns with our target sustainability goals and we are pleased to support the scale-up of their technology,” said Tom Crowley, chairman and CEO of Crowley.
“We believe in the potential of onboard carbon capture & storage as one of the effective solutions to enable Berge Bulk’s commitment towards zero emissions. Our partnership with Carbon Ridge is a strong step forward in achieving those goals and consistent with our broader sustainability mission,” said James Marshall, CEO of Berge Bulk.
About Carbon Ridge
Based in Los Angeles, California, Carbon Ridge is a leading developer of carbon capture & storage solutions for the maritime industry. Carbon Ridge’s OCCS technology provides a low-cost and near-term solution to reduce carbon dioxide and other greenhouse gases emissions from commercial shipping by up to 95%. Carbon Ridge’s technology allows for non-disruptive integration to vessel exhaust systems, enables up to a 75% reduction in process equipment size and volume in comparison to conventional CCS technologies, and is designed for the rigor of commercial maritime operations. In addition to its onboard OCCS technology, Carbon Ridge provides end-to-end solutions including CO2 transportation, sequestration, and credit monetization. For more information, visit www.carbonridge.net
About The Grantham Foundation for the Protection of the Environment
Grantham Foundation invests to redesign energy systems, improve soil health, spare the ocean from acidification, and directly recapture carbon from the atmosphere. The Grantham Foundation for the Protection of the Environment, and its affiliate, Grantham Environmental Trust, believe that innovation and technology are the best hope for an enduring future. The Grantham Trust and Foundation have, for over 15 years, focused almost exclusively on climate change mitigation and support over ninety grantees and fifty companies around the world. For more information, visit www.granthamfoundation.org.
About Crowley
Crowley is a privately held, U.S.-owned and operated maritime, energy and logistics solutions company serving commercial and government sectors with nearly $2.9 billion in annual revenues, over 170 vessels mostly in the Jones Act fleet and approximately 7,000 employees around the world – employing more U.S. mariners than any other company. The Crowley enterprise has invested more than $3 billion in maritime transport, which is the backbone of global trade and the global economy. As a global ship owner-operator and services provider with more than 130 years of innovation and a commitment to sustainability, the company serves customers in 36 nations and island territories through five business units: Crowley Logistics, Crowley Shipping, Crowley Solutions, Crowley Wind Services and Crowley Fuels. Additional information about Crowley, its business units and subsidiaries can be found at www.crowley.com.
About Berge Bulk
Berge Bulk is one of the world's leading dry bulk owners with an outstanding reputation for the safe, efficient, and sustainable delivery of commodities around the world. Berge Bulk has committed to be carbon neutral by 2025 at the latest. Berge Bulk owns and manages a fleet of over 80 vessels, equating to more than 14 million DWT. The fleet ranges from handy-size to cape-size to some of the largest vessels ever built, serving the world's major miners, steel mills and charterers. In 2021, Berge Bulk transported nearly 70 million tonnes of cargo around the world. For more information, visit www.bergebulk.com.
About Rusheen Capital Management
Jim McDermott and Jeff Green, the principals of Rusheen Capital Management, have a long and successful track record in investment, commercialization and project development for sustainable technologies. Their goal is to invest in and create sustainable companies in support of a low-carbon future. With involvement and investments in carbon capture, utilization and storage (CCUS), renewable energy, biofuels and water sustainability, Rusheen is focused on decarbonization, resource efficiency and leveraging waste streams as new resources. For more information, visit www.rusheen.com.
Carbon Ridge
This email address is being protected from spambots. You need JavaScript enabled to view it.
On the heels of a ship strike killing Fran, the most photographed whale in California, Whale Safe will be deployed in collaboration with The Marine Mammal Center to help detect endangered whale presence and track ship speeds to provide data to the shipping industry, public, and government to reduce preventable whale deaths
SAN FRANCISCO--(BUSINESS WIRE)--The Marine Mammal Center and The Benioff Ocean Science Laboratory have announced a collaboration to bring Whale Safe, a technology-based mapping and analysis system to help prevent whale-ship collisions, to the San Francisco Bay Area region. This extension of the Whale Safe platform, from its start in southern California, is being launched through the generous support of Marc and Lynne Benioff.
"Whale Safe is on a mission to help save the incredible mammals who have ruled the oceans for tens of millions of years,” said Marc Benioff, Chair & Co-CEO of Salesforce. “Whale-ship collisions continue to be a leading cause of death for endangered whales, but with these new kinds of monitoring technology and alert systems, fatalities have begun to decline. This is a triple win for the planet – we save the whales, fight climate change, and promote community health by cutting air pollution. We need more solutions like this coming out of alliances between science and business."
Last month’s tragic death of Fran, the most photographed whale in California, is the latest example of why Whale Safe is needed off the Northern California coast. Whale Safe technology will allow the public, media, government officials, and shipping companies and their vessel captains to go online and in near-real time, monitor ship speeds and whale presence in Northern California’s coastal waters. In addition to providing an immediate benefit for monitoring ship speeds, the data will also be saved and analyzed by the Benioff Ocean Science Laboratory and The Marine Mammal Center to help inform additional preventative safety recommendations.
“Whale-vessel collisions are a global concern, so when addressing the problem and building the Whale Safe system we wanted it to be a blueprint to allow for replication and expansion into other regions. We are excited to expand the technology and expertise to the San Francisco Bay region where ship collisions are of high concern for endangered whales,” said Callie Steffen, Whale Safe project lead at the Benioff Ocean Science Laboratory.
Today, more than 50% of all container ship traffic coming to and from the United States passes through West Coast ports. Blue, fin, humpback, and gray whales are vulnerable to ship strikes as they migrate and feed in areas that overlap shipping lanes and routes. Scientists estimate that over 80 endangered whales are killed by ship strikes off the U.S. West Coast each year.
“Whale Safe utilizes best-in-class technology with best-practice conservation strategies to create a solution to reduce risk to whales. This is where tech meets Mother Nature for the benefit of marine life. I am incredibly grateful to Marc and Lynne Benioff. Whales and ships must coexist in an increasingly busy ocean. Whale Safe San Francisco provides data insights to empower decisions that protect whales while supporting efficient maritime commerce,” said Dr. Jeff Boehm, Chief External Relations Officer of The Marine Mammal Center.
The number of known whale deaths from ship strikes on the West Coast has been growing over the last decade and the ones we see are only a fraction of the total number that die each year. In fact, scientists estimate the carcass detection rate is only 5-17%, so the actual number of dead whales is much higher than the number observed and recorded.
Whale Safe utilizes an AI-enabled acoustic monitoring system, big data models and direct whale sightings recorded by trained observers and citizen scientists. The three data streams are validated, compiled and disseminated in an easily interpreted “Whale Presence Rating” ranging from low to very high whale activity. Additionally, shipping report cards are created to display a ship's or company’s cooperation with voluntary vessel speed reduction zones implemented by NOAA, EPA, and the U.S. Coast Guard. This gives the captains of large vessels the data they need to know when to slow down, which is the most effective measure to drastically reduce the number of deadly ship strikes.
Whale Safe has been deployed in the Santa Barbara channel since 2020. In creating a “school zone for whales” where vessel speeds have been reduced, major shipping companies have started implementing the data and slowing down while in transit. When ships slow down, the risk of collision and fatality decreases dramatically. Whale Safe Santa Barbara and the new San Francisco expansion will show the efficacy of this tool for other locations where whales are at risk of collision with ships, such as in San Diego, key ports along the Eastern Seaboard of the United States, and international sites such as Sri Lanka, Chile, Greece and the Canary Islands, to name a few.
“We look forward to the day that ‘whale safe’ becomes as ubiquitous as ‘fair trade.’ We believe consumers care about having retailers transport their products with shipping companies who achieve our shared conservation goal of ensuring whale safe waters,” said Dr. Boehm.
“Whales are animals of such great beauty, ecological importance, and antiquity. They do not deserve to become roadkill at sea. This is an avoidable problem. We can’t any longer be passive observers of endangered whales washing ashore along San Francisco’s beaches. Whale Safe is an exciting coming together of marine scientists, technologists, conservation organizations, business leaders and government partners to do something about this issue,” said Dr. Douglas McCauley, Director of the Benioff Ocean Science Laboratory.
Whale Safe San Francisco will be led by the Benioff Ocean Science Laboratory and The Marine Mammal Center, along with leading scientists from Cascadia Research Collective and Point Blue Conservation Science. The tool was developed in collaboration with leading scientists from Woods Hole Oceanographic Institution, Norwegian University of Science and Technology, the University of California Santa Cruz, University of Washington, Conserve.iO, and NOAA’s Southwest Fisheries Science Center.
Media Assets
About The Marine Mammal Center
The Marine Mammal Center is a global leader in marine mammal health, science and conservation, and is the largest marine mammal hospital in the world. The Center’s teaching hospital and training programs operate globally, with its headquarters in the Golden Gate National Recreation Area, part of the National Park Service. Expert teams from the Center travel around the world to work with emerging first responders and has itself rescued more than 24,000 marine mammals from 600 miles of its authorized rescue area of California coastline and the Big Island of Hawai’i. The Center’s mission is to advance global ocean conservation through marine mammal rescue and rehabilitation, scientific research, and education.
For more information, please visit MarineMammalCenter.org. Follow us on Facebook, Instagram and Twitter.
About The Benioff Ocean Science Laboratory
The Benioff Ocean Science Laboratory (previously The Benioff Ocean Initiative), based at the Marine Science Institute at University of California Santa Barbara, is an applied research center that leverages the power of science and technology to create scalable and replicable solutions to pressing ocean health challenges. The Benioff Ocean Science Laboratory collaborates with scientists around the world to address issues such as plastic pollution, endangered species, and climate change. UC Santa Barbara is a leading center of marine research that is committed to using science to promote effective ocean stewardship.
For more information, please visit https://bosl.ucsb.edu/. Follow us on Twitter.
Contacts for The Marine Mammal Center:
Jacob Scott
This email address is being protected from spambots. You need JavaScript enabled to view it.
412-445-7719
Contacts for The Benioff Ocean Science Laboratory:
Dr. Douglas McCauley
This email address is being protected from spambots. You need JavaScript enabled to view it.
310-614-7492
Callie Steffen
This email address is being protected from spambots. You need JavaScript enabled to view it.
701-309-0177
Since 2014, nearly 130,000 customers received approximately $30 million in free energy-saving products and incentives
CHICAGO--(BUSINESS WIRE)--Nearly 130,000 homeowners and renters across northern Illinois saved a total of approximately $17.5 million on their energy bills, based on 2021 rates, through a ComEd offering that assesses the interior of a home or unit to find ways to lower energy costs.
“I learned about the program at an event sponsored by my alderman. I signed up on the spot and the experience was absolutely wonderful,” said James, who received a ComEd home energy assessment for his residence in Chicago’s Beverly View neighborhood. “The energy advisor who visited my home was cordial and knowledgeable about what it took to help save energy at my home. The biggest benefit to me was the installation of energy-efficient showerheads and faucet aerators and hot-water pipe insulation. Not only has this helped my electric bill, but my wife was able to water the garden all summer and even our water bill was reasonable.”
James is one of many northern Illinois residents who, since 2014, have signed up for a home energy assessment and who, together, qualified for a total of nearly $30 million in free energy-saving products and incentives.
“ComEd is always looking for ways to make it affordable for families and individuals to access clean and reliable electricity,” said Melissa Washington, ComEd's chief customer officer and senior vice president of customer operations. “One of the biggest ways is by signing up for a free home energy assessment, which not only provides immediate home savings, but plans for unlocking additional savings into the future.”
Through home energy assessments, customers have saved more than 125 million kilowatt-hours of electricity, which is enough energy to power more than 14,000 ComEd customers’ homes for one year. The offering also helped reduce from the air more than 106 million pounds of carbon emissions that contribute to climate change, which is the equivalent of removing more than 10,000 cars off the road for one year or planting nearly 60,000 acres of trees.
Home energy assessments, which are part of ComEd’s award-winning Energy Efficiency Program, are designed to improve the energy efficiency of a home and lower its energy costs, while enhancing the comfort of those who live within it.
Homeowners and renters receive a free review of their home – either in-person or virtually – to identify areas for energy savings. An energy advisor will collect information about a home's energy features by looking at its lighting, heating and cooling systems, water heaters and appliances. The advisor then provides personalized recommendations for saving energy and money.
During the assessment, the advisor may install free and discounted energy-saving products, including LEDs, a programmable or smart thermostat, WaterSense certified showerheads and faucet aerators, hot water pipe insulation and advanced power strips. Assessments can be conducted for single-family homes. A separate program is available for multi-unit buildings. For certain qualifying low-income customers, ComEd also includes free weatherization improvements.
ComEd offers assessments in collaboration with Nicor Gas, North Shore Gas, and Peoples Gas. Customers can get more information and schedule an assessment online at ComEd.com/Assessment or by calling 855-433-2700.
More Ways to Save Money and Energy
The ComEd Energy Efficiency Program, which is funded in compliance with state law, is one of the largest programs in the nation offering residents, businesses and the public sector ways to control energy costs, including services and incentives that help them cut back on their energy use to reduce energy bills and help the environment.
In addition to saving customers a total of $7 billion on their energy bills since 2008, the energy-efficiency program helped customers save nearly 65 million megawatt-hours of electricity, which is enough energy to power more than 7.4 million ComEd customers’ homes for one year.
For more information on how ComEd helps customers save money and energy, visit ComEd.com/HomeSavings for residential customers and ComEd.com/BizSavings for business customers.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc. (NYSE:AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced that members of its management team will attend the following investor conference:
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent clean technology integrator of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
Media Relations
Leila Dillon, 508.661.2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Eric Prouty, Advisiry Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Lynn Morgen, Advisiry Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Programs will support Rhode Island-based renewables while offering community-wide access to competitively priced electricity
PROVIDENCE, R.I.--(BUSINESS WIRE)--Six Rhode Island cities and towns have joined together to launch aggregation programs that leverage community-wide buying power to provide their residents and businesses with new options for electricity supply. These Community Electricity Aggregation (CEA) programs will focus on providing competitively priced rates while also including additional clean energy from Rhode Island.
The new programs, set to launch in May 2023, are the culmination of a multi-year effort involving the communities of Barrington, Central Falls, Newport, Portsmouth, Providence and South Kingstown working with electricity aggregator Good Energy. By working together, these communities can harness significant buying power, collectively representing over 100,000 eligible electricity users.
Each municipality developed its own aggregation plan, customized to reflect its community priorities. These were then approved by votes of its City or Town Council, as well as by the Rhode Island Public Utilities Commission.
The primary electricity offering in each CEA program will exceed State renewable energy standards while maintaining focus on competitive pricing. With a combined load of roughly 15% of the State’s electric utility, the group will benefit from substantial economies of scale while also providing significant demand for new renewable energy in the region.
The municipalities have committed to sourcing their renewable energy from within New England. This will include specific Rhode Island-based projects such as solar power facilities built on brownfields in North Providence and Johnston, as well as wind turbines located in Providence, Coventry and Narragansett.
“Providing cleaner energy options, and making those options more accessible and affordable, is a key strategy of Providence’s Climate Justice Plan,” said Mayor Jorge O. Elorza. “We are proud to join these fellow cities and towns in beginning this program and excited to offer new options for energy supply in our community.”
"As cost of living expenses continue to skyrocket, like rent and energy, too many of our families in Central Falls are left struggling to meet their most basic needs. Energy aggregation is an opportunity for our city to work to address this growing challenge," said Central Falls Mayor Maria Rivera. "This program aims to help residents with electricity price stability and potential monthly cost savings, all while Central Falls moves toward a cleaner energy future."
“Aggregation is a step toward reducing not only the impact of rising energy costs, but also our carbon footprint through a cleaner supply of electricity,” Barrington Town Manager Philip Hervey said.
“We are happy to be joining with five other communities in Rhode Island in an initiative to bring green and low cost energy options to our residents,” noted Portsmouth Town Administrator Rich Rainer.
“We are excited to help communities combat climate change while also looking out for the energy spend of their residents and businesses,” said Philip Carr, New England Regional Director of Good Energy. “Community electricity aggregation programs are rapidly transforming the electricity sector in many states, and we are thrilled to bring this program to Rhode Island consumers.”
Providence-based non-profit Green Energy Consumers Alliance will provide a significant portion of the voluntary renewable energy from Rhode Island-based projects. “Our organization’s mission is to speed the transition to clean energy. And that’s exactly what this program does. We’re going to bring more wind and solar onto the grid and the best part is that it will be from projects located right here in the Ocean State,” said Larry Chretien, Executive Director of GECA.
After a competitive bidding process, the group selected NextEra Energy Services, LLC as its electricity supplier. Final pricing will be announced about two months in advance of the launch, in March 2023, via community-wide outreach and education initiatives.
When each program launches, any electricity customer using Last Resort Service supply from the utility, RI Energy (formerly National Grid), will be eligible for automatic enrollment in the new CEA program. Customers will be provided with an opportunity to opt-out before the program starts and, if enrolled, will be able to leave the program at any time without penalty.
RI Energy will continue to deliver electricity, respond to outages and manage all billing. Customers who participate in the programs will continue to receive a single electricity bill, but will see a change in the bill’s “Supply” section. Utility discount programs, budget billing, and solar or net-metering benefits will not be affected by participating in the CEA programs. To learn more, visit goodenergy.com/rhode-island/.
About Good Energy: Good Energy is a national leader in the design, development, implementation and ongoing management of community electricity aggregation programs, serving cities and towns in Rhode Island, Massachusetts, New York, New Hampshire, New Jersey and Illinois. goodenergy.com
Jamie Rhodes, Good Energy Sales Manager, Rhode Island, 401-225-3441 This email address is being protected from spambots. You need JavaScript enabled to view it.
CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company welcomed more than 20 government and industry leaders from around the world today to tour the AP1000® Plant Control Room Simulator at the company’s headquarters. Westinghouse was honored to be selected as an official site visit of the 2022 Global Clean Energy Action Forum being held in Pittsburgh.
“The innovation we saw today at Westinghouse demonstrates their critical role and leadership in supporting the global clean energy transition,” said Dr. Kathryn Huff, U.S. Department of Energy Assistant Secretary for Nuclear Energy. “It was exciting to get hands-on experience with proven technology that can help advance the world’s net zero and energy security aims right now.”
“Westinghouse proudly welcomes these global leaders to our hometown and to our headquarters,” said Patrick Fragman, Westinghouse President and CEO. “Our spirit of innovation originated in Pittsburgh over 100 years ago and we continue to deliver clean energy solutions for today and into the future. Our proven, next-generation nuclear technologies will help address the world’s most pressing climate and energy security goals.”
Global leaders experienced the AP1000® Plant Control Room Simulator, which operates continuously and realistically through all modes of plant operation featuring real-time, hands-on applications. The state-of-the-art simulator is used to train operators from all over the world on all plant procedures from startup to shutdown, including operations under an extensive range of transients.
The AP1000 plant is the only operating Generation III+ reactor with fully passive safety systems and has the smallest footprint per MWe on the market. In addition to two AP1000 units being completed at the Vogtle site in Georgia, USA; four AP1000 units are currently setting operational performance records in China at the Sanmen and Haiyang sites and construction has begun on four additional units at these same sites. Ukraine has committed to nine AP1000 units, and the AP1000 technology is under consideration at multiple sites in Central and Eastern Europe, the United Kingdom, and in the United States.
For full programming of the week’s activities at the 2022 Global Clean Energy Action Forum, visit the website.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
Media: Cathy Mann, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Digital Freight Forwarding Market (2022-2027) by Mode of Transport, Deployment Mode, Function, Application, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Freight Forwarding Market is estimated to be USD 6.98 Bn in 2022 and is expected to reach USD 20.63 Bn by 2027, growing at a CAGR of 24.2%.
Market dynamics are forces that impact the prices and behaviors of the Global Digital Freight Forwarding Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario.
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 Digital Freight Forwarding 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 Global Digital Freight Forwarding 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.
Report Highlights:
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/61e98p
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
NEW YORK--(BUSINESS WIRE)--#Energy--DarrowEverett LLP, a full-service business law firm with offices in Massachusetts, Rhode Island, New York, Tennessee, North Carolina, South Carolina, and Florida, is actively representing solar energy companies who have suffered damages as a result of product issues with Generac PWRcell systems that were installed on their customers’ homes.
“Our team at DarrowEverett LLP is actively investigating product issues with Generac’s PWRcell systems, including SnapRS failures. We have significant experience representing solar installation companies and are uniquely positioned to assist those businesses who have suffered damages due to Generac’s product issues,” said Michael Burke, Partner, and Chairman of DarrowEverett’s Business Litigation Practice.
Generac Power Systems (GNRC) is a multi-billion dollar, publicly traded company. Generac, a longtime manufacturer of generators and energy storage equipment, recently entered the solar energy market through its acquisitions of Pika Energy and Chilicon Power.
“Our team is paying close attention to the impact these Generac product issues are having on customers and regional and national solar energy installation companies,” said Douglas Otto, Partner, and DarrowEverett Business Litigation Practice Leader.
DarrowEverett, through their extensive capabilities in the representation of solar energy companies and an expansive geographic footprint, is uniquely positioned to assist solar installers across the country who have experienced losses due to Generac’s product failures.
DarrowEverett is a full-service business law firm with offices in Boston, MA, Providence, RI, New York, NY, Nashville, TN, Charlotte, NC, Charleston, SC, & Miami, FL. The firm, with a team of over 70, offers a diversity of services, including banking & finance, business litigation & dispute resolution, commercial real estate, corporate & business acquisitions, energy & natural resources, environmental, government investigations, healthcare & life sciences, intellectual property & technology, labor & employment, private equity, capital markets, & securities, private wealth services, regulatory & compliance, restructuring, & tax. In addition, DarrowEverett serves a wide range of domestic & international publicly traded & privately-held companies, and non-profit organizations. To learn more, visit www.darroweverett.com.
Media:
Michael Burke
Partner, Business Litigation Chairman
617-443-4500, ext. 254
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Belgium Vehicle To Grid Market By Charging Type, By Component Systems, Others, By Vehicle Type, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, By Application, By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Belgium vehicle to grid market is projected to grow at a formidable rate during the forecast period, 2023-2027
The market growth can be attributed to the high penetration of smart power generation systems across various end-user sectors. Besides, rising demand for electric vehicles and rapid technological advancements are contributing to the market growth.
Despite low demand for EVs in Belgium compared to other nations such as the Netherlands and Germany, rising awareness among consumers and persistent efforts by EV manufacturers to promote the adoption of EVs are expected to further support the growth of the Belgium vehicle to grid market in the future.
Technology known as "vehicle to grid" allows electric vehicles to send any unused electricity to the grid. Future plans to use car to grid technology to power homes as well as the use of electric vehicles to store energy and use that energy to power other systems such as mobile phones, laptops, and similar gadgets are potential applications of the system.
The technology allows for energy provision during peak times. When the renewable energy sources that depend on the weather are unable to meet the demand for electricity, this system has the ability to produce an additional source of power.
High investments by market players to increase the sales of electric passenger car and commercial vehicles and expanding the electric vehicle charging infrastructure are also fueling the growth of the Belgium vehicle to grid market. Enhanced support by government authorities and more foreign direct investments are likely to positively impact the Belgium vehicle to grid market growth.
The development of the market would also be aided by coordination between electric car manufacturers and those that operate charging stations and points. In the next five years, the expansion of the Belgium vehicle to grid market will be facilitated by increasing potential customers' awareness of the financial ramifications, the existing and planned charging infrastructure, the various types of charge points, and the offered driving range.
The bidirectional charging segment is expected to register the fastest growth in the market during the forecast period, owing to their rising adoption for recharging the vehicle battery and utilize the stored energy during peak hours.
Major players operating in the Belgium vehicle to grid market are Elia Group, Jedlix BV, FUERGY Industries j.s.a., NUVVE Corp., ABB Group., YUSO BV, among others.
Objective of the Study:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Belgium vehicle to grid market.
Report Scope:
Years considered for this report:
Belgium Vehicle To Grid Market, By Charging Type:
Belgium Vehicle To Grid Market, By Component:
Belgium Vehicle To Grid Market, By Vehicle Type:
Belgium Vehicle To Grid Market, By Application:
Belgium Vehicle To Grid Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/f1a5be
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Leap’s California heat wave response generates $1 million in grid services revenue opportunities for their technology partners.
SAN FRANCISCO--(BUSINESS WIRE)--Leap, a leading energy market access provider, announced today that it has surpassed 50 technology partners under contract and over 50,000 customer meters on its platform. Since launching in 2017, Leap has added over 430 MW in flexible load to its portfolio across four electricity markets in the U.S.
“Leap has experienced tremendous growth over the past few years by developing strong partnerships with technology providers who recognize that they can leverage their portfolios of cloud-connected energy devices to help stabilize the grid,” said Leap’s Chief Executive Officer Thomas Folker. “During the recent heat wave in California, Leap virtually aggregated over 77 MW in flexible load across 24 partners and over 21,000 unique devices to deliver meaningful relief to the strained grid and keep the lights on for millions of California residents.”
Leap’s partners serve millions of consumers and commercial businesses, including some of the biggest and most recognizable consumer brands. They use Leap’s platform to simplify energy market participation for grid-connected distributed energy resources (DERs) such as smart thermostats, electric vehicle (EV) chargers and battery storage systems. The platform makes it easy for the developers and operators of DERs to connect their customer meters to the grid and respond to market pricing signals during peak demand periods. This makes the grid more resilient and creates new sources of value for technology providers and their end customers.
“As an early investor, I’m thrilled to see the impact Leap and its partners have had on the grid over the past five years,” said Nick Grossman, General Partner at Union Square Ventures, “It’s really the triple bottom line in action. By partnering with Leap, technology providers can unlock new revenue streams to invest in their business, help keep the electricity flowing and provide the flexibility needed for the grid to handle more renewable energy generation.”
About Leap
Leap is the leading global platform for generating new value from grid-connected resources and devices through integration with energy markets. Leap does all of the heavy lifting, seamlessly connecting technology partners to high-value revenue streams and providing a simplified, automated access point for market participation with batteries, electric vehicle charging, smart thermostats, HVAC systems, industrial facilities, and other flexible assets. By making it easy for new distributed resources to participate in energy markets, Leap lays the groundwork for virtual power plants (VPP). Leap empowers its partners to provide resilient, zero-carbon capacity to the grid while strengthening engagement with their customers through new value streams.
Caroline Thompson
Corporate Marketing Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) will host a conference call webcast on Thursday, Nov. 3, 2022, at 12:00 p.m. Eastern time to discuss third-quarter 2022 financial and operating results. The company’s financial and operating results will be released before the market opens on Nov. 3.
To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the "Register" link in the Investor Presentations section. You should register at least 15 minutes prior to the start of the webcast. The event will be archived and available for replay later the same day, with a transcript available the following day.
--- # # # ---
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 thousand barrels of oil equivalent per day for the six months ended June 30, 2022, and proved reserves were 6.1 billion barrels of oil equivalent as of Dec. 31, 2021. For more information, go to www.conocophillips.com.
Dennis Nuss (media)
281-293-1149
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
281-293-5000
This email address is being protected from spambots. You need JavaScript enabled to view it.
WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) (“Global” or “the Partnership”), one of the Northeast and mid-Atlantic’s largest independent owners, suppliers, and operators of gasoline stations and convenience stores, today announced the purchase of Tidewater Convenience, Inc. (Tidewater), further expanding the Partnership’s retail footprint in the mid-Atlantic region.
The acquisition includes 15 locations (14 company-operated) in Southeast Virginia.
“We are committed to continuing to expand by adding strategic locations to our vertically integrated network. Virginia is a key market that complements our existing portfolio,” said Mark Cosenza, SVP Gasoline, Distribution and Station Operations. “We share Tidewater’s values around community and a commitment to guest experience, and we look forward to continuing to deliver high-quality service at these locations.”
Global delivers essential products including fuel, food, and supplies to local communities and supports non-profits and community organizations throughout its footprint at approximately 1,700 retail locations and more than 20 bulk energy terminals.
Matrix Capital Markets Group, Inc. served as the exclusive financial advisor to the seller.
About Global Partners
With approximately 1,700 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.
Investors:
Gregory B. Hanson
Chief Financial Officer
Global Partners LP
(781) 894-8800
Media:
Catie Kerns
SVP Corporate Affairs
Global Partners LP
(781) 894-8800
Defense contractor named exclusive field service and parts provider for maritime defense markets
BELOIT, Wis.--(BUSINESS WIRE)--#BuffaloPumps--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has finalized an agreement to serve as the exclusive services provider for Buffalo Pumps, a division of Air and Liquid Systems Corporation. Buffalo Pumps has been a quality manufacturer of centrifugal pumps since 1887 to the global maritime defense and commercial markets. The agreement combines more than a century of expertise from these two industry leaders to expand service capabilities for the U.S. Navy, Military Sealift Command and U.S. Coast Guard customers.
“Fairbanks Morse Defense understands that our work means more than supporting well-maintained, high-performing ships. Our customers require a service partner who can deliver superior service with zero compromises in safety or quality,” said Jamie McMullin, President of FMD Services. “Through our collaboration with Buffalo Pumps, we bring added value to our customers with the ability to deliver rapid, local, OEM expertise and complete turnkey service solutions for a broader range of mission critical systems.”
Based in North Tonawanda, New York, Buffalo Pumps has established itself as a premier pump manufacturer, with most of its customers representing the defense and commercial sectors. Through this agreement, Buffalo Pumps will have access to FMD’s global network of highly trained field service technicians and the defense contractor’s strategically located service centers to provide service and overhaul solutions for the company’s maritime defense customers.
“Fairbanks Morse Defense’s extensive field service network and focus on supporting naval customers will provide unparalleled support to our customers when and where they need it,” said David Anderson, President of Air and Liquid Systems Corporation. “FMD shares our values regarding delivering superior customer service, and we are confident this agreement will provide tremendous value to our Buffalo Pumps customers.”
For more than 100 years, FMD has provided products and services to the Navy. Today, the defense contractor powers more than 80% of the Navy’s ships with medium-speed applications. The defense contractor has rapidly expanded its array of best-in-class marine technologies, OEM parts and turnkey services for marine defense customers through expansion and the acquisitions of companies that include Federal Equipment Company (FEC), Hunt Valve, Maxim Watermakers, Research Tool & Die (RT&D), Ward Leonard, and Welin Lambie. The defense contractor was named an exclusive naval field service provider for The Ideal Electric Company and is co-developing an intelligent search and recovery system (LARS) with DECK Marine Systems. FMD is unlocking the future of maritime technology through its recently launched Center of Technology Excellence.
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
About Buffalo Pumps
Buffalo Pumps, a division of Air and Liquid Systems Corporation, is a manufacturer and supplier of quality centrifugal pumps based in North Tonawanda, New York. The company’s commercial use pumps date back to 1887, and its marine pumps predate World War I. The single-source supplier also offers overhaul capabilities to reproduce parts for pump equipment that can be up to 50 years old. Buffalo Pumps has an ISO 9001-2015 certification as a pump supplier of the highest quality and dependability.
To learn more, visit https://www.buffalopumps.com/.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Please replace the release dated September 20, 2022 with the following version due to multiple revisions.
The updated release reads:
MESA ROYALTY TRUST ANNOUNCES TRUST INCOME FOR SEPTEMBER 2022
Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of September 2022. Unitholders of record on September 30, 2022 will receive distributions amounting to $0.186638855 per unit, payable on October 31, 2022. The Trust received $275,783, which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company and $115,890 which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in September 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc. or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $347,818.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
DUBLIN--(BUSINESS WIRE)--The "Global Ship Building Market (2022-2027) by Product 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 Ship Building Market is estimated to be USD 149.12 Bn in 2022 and is expected to reach USD 177.11 Bn by 2027, growing at a CAGR of 3.5%.
Market dynamics are forces that impact the prices and behaviors of the Global Ship Building Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario.
Some of the companies covered in this report are BAE Systems Damen Shipyards Group, Huntington Ingalls Industries, Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Yangzijiang Shipbuilding Ltd, etc.
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 Ship Building 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 Global Ship Building Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Report Highlights:
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/7mqn4w
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DENVER--(BUSINESS WIRE)--Liberty Energy Inc. (NYSE: LBRT) announced today that it will release its financial results for the third quarter ending September 30, 2022 after the market closes on Wednesday, October 19, 2022. Following the release, the Company will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Thursday, October 20, 2022. Presenting the Company’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer.
Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 7534551. The replay will be available until October 27, 2022.
About Liberty
Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
Michael Stock
Chief Financial Officer
303-515-2851
This email address is being protected from spambots. You need JavaScript enabled to view it.
PITTSBURGH--(BUSINESS WIRE)--The University of Pittsburgh and Peoples Gas, an Essential Utilities company, are teaming up to explore the use of hydrogen as a future energy source. Together, the organizations announced today they will enter a research partnership to study the potential of safely and securely transporting hydrogen through its natural gas systems.
Initially engineers at Peoples and Pitt’s Swanson School of Engineering will conduct benchmarking and research of existing information and data related to the distribution of hydrogen, focusing on technical issues involved with using natural gas pipelines to transport hydrogen or a blend of hydrogen and natural gas. Following this initial research phase, the organizations expect to work together on a pilot project to test the impacts of hydrogen on Peoples’ natural gas distribution infrastructure.
“Peoples has a long history of innovation and we’re excited to partner with experts from the University of Pittsburgh to stay on the leading edge of energy industry development,” said Mike Huwar, president of Peoples. “Hydrogen has the potential to transform the way we heat our homes and power our businesses, using the existing natural gas distribution system. Pitt and the Swanson School have the expertise we need to test and study its feasibility as a transformative energy resource.”
Western Pennsylvania is in the heart of the Appalachian Basin, which has abundant natural gas reserves that the energy industry could leverage to become a leader in the development and commercialization of hydrogen. Hydrogen’s unique physical and chemical characteristics require answers to technical questions, such as its effects on pipeline materials, to determine whether natural gas utilities can safely and effectively transport it through existing infrastructure.
Hydrogen can serve as a non-carbon source of energy when used in combustion appliances or fuel cells that produce clean electricity. Its potential use as a supplement to natural gas could have an important role in future energy transition strategies in our region to significantly reduce emissions.
Brian Gleeson, the Harry S. Tack Professor and Chair of the University of Pittsburgh’s Department of Mechanical Engineering and Materials Science (MEMS), and Dr. Doug Konitzer, adjunct professor in the department, will lead the project. Both are metallurgists with expertise in materials science and engineering.
“This is an outstanding partnership of capabilities. Although much progress has been made over the past decades, further research and testing are needed for the safe and affordable implementation of carbon-neutral hydrogen technologies,” Gleeson said. “We are very excited to work the technical personnel at Peoples Gas on this highly relevant project.”
The University of Pittsburgh’s Swanson School of Engineering is one of the oldest engineering programs in the U.S. and excels in basic and applied research with focus areas in sustainability, energy systems, advanced manufacturing, bioengineering, micro- and nano-systems, computational modeling, and advanced materials development. More than 210 faculty members serve nearly 3,600 undergraduate, graduate and PhD students across six departments: bioengineering, chemical and petroleum, civil and environmental, electrical and computer, industrial, and mechanical and materials science.
Peoples, an Essential Utilities company, provides natural gas service to approximately 750,000 homes and businesses in Western Pennsylvania, West Virginia and Kentucky. Peoples is committed to its customers, its employees, the environment, and to the regions it serves. For more information, visit peoples-gas.com and follow Peoples on social media @peoplesnatgas.
Paul Kovach, University of Pittsburgh
This email address is being protected from spambots. You need JavaScript enabled to view it.
412-624-0265
Nathan Petrillo, Peoples Gas
This email address is being protected from spambots. You need JavaScript enabled to view it.
412-208-6614
DALLAS--(BUSINESS WIRE)--Silver Hill Energy Partners, LP (“Silver Hill”), announced today that it has closed the franchise’s third partnership and first institutional private equity fund, Silver Hill Energy Partners III, LP (the “Partnership”), representing total capital commitments of $1,020,000,000. The Partnership has formed Silver Hill Energy Partners III, LLC, Silver Hill III Midstream, LLC and other regional affiliates (together with the Partnership, “Silver Hill III”), which is focused on the direct acquisition and development of operated onshore oil, natural gas and related infrastructure assets in premier basins across the U.S.
“Silver Hill is strongly committed to responsible and environmentally-conscious development of energy resources in the United States,” said Silver Hill Founder, President and CEO Kyle D. Miller. “Through our direct partnership with like-minded institutional partners, we are uniquely positioned to make rapid decisions as attractive oil and gas assets become available for acquisition.”
Miller added, “We have a tenured, multi-disciplinary team of leaders who have experience building and managing large-scale oil and gas companies; operating and developing oil and gas assets; and sourcing, evaluating and underwriting oil and gas investments. I particularly want to thank our partners for providing their full support as we continue to grow this strong franchise with Silver Hill III. Our goal, as always, is to generate compelling risk-adjusted returns and outcomes for all of our stakeholders, including our investing partners, the communities in which we operate and the landowners, employees, and contractors we support.”
Silver Hill Energy Partners was formed in 2011 with a focus on the direct ownership and operation of oil, natural gas and related infrastructure assets. Prior partnerships built, developed, and monetized assets in the Delaware Basin of West Texas. Today, after five upstream acquisitions across the Haynesville Shale and South Texas since August 2021 and significant subsequent development activity, Silver Hill III’s asset portfolio consists of approximately 250 MMcf/d (net) of dry natural gas production from 75 producing wells and approximately 150 gross drilling locations across approximately 30,000 net acres prospective for the Haynesville, Eagle Ford and Austin Chalk formations. Silver Hill III is currently running three operated rigs in the Haynesville Shale and South Texas while its working interest partners operate a fourth rig in the Haynesville. In addition to its upstream activity, Silver Hill III is actively developing meaningful new midstream infrastructure projects in both the Haynesville and South Texas.
Aviditi Financial, LLC and Shearman & Sterling LLP served as Silver Hill’s placement agent and legal counsel, respectively, during the fundraising process.
About Silver Hill Energy Partners III, LP
Silver Hill Energy Partners III, LP is a private energy fund based in Dallas, Texas, supported by a diverse group of institutional partners. The Partnership is focused on direct investments in acquisitions and development of operated oil, natural gas, and related infrastructure assets across the Lower 48, with current investments in the Haynesville Shale and South Texas. For more information, please visit silverhillenergy.com.
About Silver Hill Energy Partners
Silver Hill Energy Partners was founded in 2011 by Kyle D. Miller to provide a long-term vehicle for profitable energy development across the U.S. From 2011 through 2017, Mr. Miller and his team assembled what was, at the time, the largest privately held contiguous acreage position in the Delaware Basin of West Texas through multiple operating companies and strategic joint ventures that successfully acquired, developed and ultimately sold large-scale unconventional oil, natural gas and related infrastructure assets. Silver Hill I & II generated strong risk-adjusted returns across cycles for a diversified base of investors, including private equity, institutions and family offices. The formation of Silver Hill III follows the successful merger of Silver Hill I and II’s upstream assets into RSP Permian for $2.5 billion in cash and stock. For more information, please visit silverhillenergy.com.
Redbird Communications
Meggan Morrison
972.639.8715 m
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.