Electric utility ranked among top 1 percent of all American utilities for reliable and clean energy infrastructure
CHICAGO--(BUSINESS WIRE)--ComEd has been recognized again for its leading role in supporting economic growth and job creation across northern Illinois, according to new rankings today by Site Selection Magazine, which named ComEd as one of the Top 20 utilities in economic development. Selected from more than 3,300 electric companies across the country, ComEd is among the top 1 percent of all utilities in attracting new businesses, jobs and investments.
“Companies continue to invest in northern Illinois thanks to the unparalleled access to clean, affordable and reliable power that is essential for meeting the demands of today’s digital economy,” said Gil C. Quinones, CEO of ComEd. “With industry-leading reliability fueled by our investments in grid modernization, ComEd’s service territory is attracting investment from some of the most innovative and exciting industries in the nation. We are committed to continuing the grid investments needed to transition to a clean energy future and power growth of Illinois companies that bring jobs and opportunity into the communities we are proud to serve.”
This marks the ninth year ComEd has earned the recognition – a testament to the company’s strong record in delivering clean, reliable and affordable power for 9 million people and businesses in the region, including some of the world’s largest companies. Last year alone, ComEd helped launch 16 new commercial projects – with commitments to invest $3 billion locally and create 4,700 new jobs.
“Just as utilities’ generation and distribution portfolios turn toward renewables and smart technologies, the economic developers at Top Utilities like ComEd are helping their communities pursue sustainable growth by cultivating the flow of smart capital and talent,” said Adam Bruns, managing editor of Site Selection.
The magazine attributes ComEd’s investments to enhance grid infrastructure and promote reliable, clean energy service as key factors that are driving jobs and new business to Illinois. This includes:
RELIABILITY: ComEd has a key role to play in powering business, as it continues to make the investments necessary to enhance resiliency in the face of climate change, improve safety, and achieve new technology needs in an increasingly clean energy economy. These investments are paying off: ComEd’s overall reliability has improved 79 percent since investments began in 2011, avoiding more than 18.6 million customer interruptions and producing more than $3 billion in savings, including avoided business losses. ComEd’s industry-leading reliability performance continues in 2022, with the company providing its highest reliability on record for the first half of the year, and record storm restoration time amid an uptick in severe storms.
CLEAN ENERGY ACCESS: In support of Illinois’ goal of 100 percent clean energy by 2050, ComEd is working closely with a growing developer community to increase access to clean and affordable solar energy in the residential and commercial and industrial (C&I) sectors. Since the community solar program launched, subscribers have grown substantially – from 700 in 2016 to nearly 30,000 residential customers today.
ComEd offers C&I customers a Distributed Generation (DG) Rebate of $250 per kilowatt of installed solar energy, which helps offset the out-of-pocket costs of installing a qualified renewable energy generating system. In the past four years, ComEd has provided close to $94 million in DG rebates to expand solar projects in northern Illinois.
EV EXPANSION: ComEd has also proposed a Beneficial Electrification (BE) plan which commits $300 million over the next three years to help remove barriers to beneficial technologies, including electric vehicles (EVs). A mix of rebates and programs will help communities and customers advance toward clean transportation goals as outlined by the State of Illinois’ Climate and Equitable Jobs Act (CEJA) law, which seeks to put 1 million vehicles on the road by 2030. The plan also includes technical assistance for businesses with customized fleet assessments, and a new rate delivery class that would help large business customers offset the upfront costs of installing EV charging infrastructure at scale.
AFFORDABILITY: ComEd continues to expand programs that help customers save on energy, while keeping monthly bills among the lowest in the nation. ComEd customer bills today are in line with the past several years, and next year’s average bills are expected to remain below those of the 10 largest U.S. metropolitan areas. Recently, ComEd’s energy efficiency program hit a critical milestone, saving northern Illinois communities a total of over $7 billion on their electric bills – including nearly $3 billion in savings for businesses – since 2008.
WORKFORCE DEVELOPMENT: To prepare communities for a clean energy future, ComEd is expanding workforce training programs that prepare more diverse, local workers with clean technology skills. Last year, more than 1,700 local residents participated in job training programs sponsored by ComEd, including programs to prepare residents for overhead electrical, construction and solar careers. These programs have a strong job placement rate, with close to 75 percent or more hired upon completion.
“Access to reliable, affordable, and increasingly sustainable energy is key to companies making location decisions,” said Intersect Illinois CEO Dan Seals. “We’re pleased to see ComEd recognized for its commitment to economic development in Illinois.”
“We congratulate ComEd on news that it is recognized as a national leader in economic development by Site Selection Magazine,” said Michael Fassnacht, President & CEO, World Business Chicago, Chief Marketing Officer, City of Chicago. “This recognition is well deserved and testament to ComEd’s long-term commitment to the Chicagoland region, strong performance and innovative energy efficiency programs, all of which are vital to helping local businesses thrive.”
“ComEd’s track record on reliability, resiliency and affordability has been vital to the growth of our region, and will play a key role in driving economic investment and jobs here for many years to come,” said Will County Center for Economic Development CEO, Doug Pryor. “Businesses know that ComEd provides industry-leading reliability, low and stable pricing, business-focused energy efficiency programs and renewable energy solutions that are critical to businesses aiming for long term sustainability. This provides businesses confidence knowing that when they choose Will County and northern Illinois, they’ll remain competitive in an ever-changing climate.”
ComEd’s year over year investments in grid modernization continue to drive new business to the area. This includes strong growth by sectors like data centers, logistics and manufacturing, all of which depend on a high volume of clean energy to power local operations and customers served around the world.
To read the 2022 Top Utilities Ranking story by Site Selection magazine, click here.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd
Media Relations
312-394-3500
HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE:USDP) (the “Partnership”) announced today that its 2021 Schedule K-3 is available online. Unitholders requiring this information may access their Schedule K-3 at www.taxpackagesupport.com/USDP. As previously announced the Partnership’s tax package, which included the Schedule K-1 (Form 1065) was made available in March of this year.
A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. Unitholders should refer to the appropriate federal laws and guidance or consult with their tax advisors to determine whether the information contained in this form is applicable to them.
To receive an electronic copy of your Schedule K-3 via email, unitholders may call Tax Package Support toll free at (844) 275-9876.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.
USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USD’s solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USD is currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.
Adam Altsuler, 281-291-3995
Executive Vice President, Chief Financial Officer
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Jennifer Waller, 832-991-8383
Senior Director, Financial Reporting & Investor Relations
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BERLIN--(BUSINESS WIRE)--Sustainable homes should be accessible to all, not just a few. That’s the message Schneider Electric, the leader in digital transformation of energy management and automation, is bringing to IFA 2022. Back at the Europe’s biggest consumer tech show in person, Schneider Electric is unveiling the latest additions to its smart and sustainable home energy management portfolio: EVlink Home Smart charger, the all-in-one integrated Wiser App and Matter-ready Wiser.
Schneider’s technology is revolutionizing how homeowners manage and consume their energy loads, in a bid to tackle climate change and sharply rising energy costs. With customers tightening their purse strings and the effects of extreme weather being felt across Europe, the need to understand and take action to reduce energy consumption has never been more paramount.
World’s first EV charger to intelligently charge your car
Schneider Electric’s new EVlink Home Smart charger is the first on the market to integrate seamlessly into the wider home energy ecosystem, empowering users to monitor EV power consumption in real-time, predict spending, and set budgets with ease with four different modes: ‘charge now’, ‘green charging*’, ‘cost effective’, and ‘customized schedule’. This market-leading solution offers homeowners the complete energy control they’ve been craving.
Furthermore, it can fully integrate with the wider Schneider Electric Wiser ecosystem to ensure users can charge EVs with renewable energy and the cheapest tariff at home. EV charging adds an extremely heavy energy load to the home, increasing home energy consumption by up to 40%. With the Wiser home energy system, homeowners can avoid skyrocketing bills and prepare for a more sustainable future, with just a few taps on the App. Using the ‘cost effective’ mode, Wiser creates the most efficient schedule based on the cheapest electricity tariff, while ‘green charging’ only uses renewable electricity sources. Plus, Wiser stops charging each time consumption reaches the homeowner’s power limit contract, ensuring bills stay under control, forever.
Wiser's intelligent energy management system automatically balances the loads to enable minimal disruption and maximum efficiency for homeowners. For instance, if they begin cooking, the system syncs with Wiser to understand energy consumption in real time in conjunction with other appliances to avoid any disruption or tripping. It brings ultimate convenience, allowing you to charge your car without interrupting the rest of your lifestyle.
Connect your Wiser system to any Matter ecosystem, for complete home energy management
Schneider Electric is launching a Matter-ready Wiser Gateway, which will make the Wiser ecosystem Matter-compliant. Homeowners will have three different ways in which to control the energy use of their homes: through a voice control device such as Amazon’s Alexa, the Wiser smartphone App, or any Matter system.
The full range of devices planned to be Matter-ready is being previewed at IFA. With these devices, we are enabling customers to connect them to any Matter ecosystem, along with other devices, no matter the brand.
By providing consumers with complete remote control of their smart home devices, such as radiator thermostats, energy monitors, presence detectors, light switches and more, customers can reap the benefits of connected smart technology and gain more valuable insights to understand where they can make efficiencies.
All-in-one Wiser App is the one-stop shop for Home Energy Management
The foundation of effective Home Energy Management is the Wiser system App that’s able to monitor the entire electricity consumption in the house and monitor all the appliances, in particular the biggest energy guzzlers.
Understanding how, when and where energy is used is more important than ever as consumers look for ways to make savings. With Wiser, consumers enjoy full visibility of the electricity and energy sources they use, enabling data-backed decisions on appliance use. The App provides a live view of power flow and a history of consumption to help homeowners make more informed decisions. Similarly, it tracks daily bills and offers AI-powered hints and tips on how to shift behaviors and use electricity when tariffs are at their lowest, as well as prioritizing the greenest energy source. It also compares homeowners’ energy usage to similar homes and advises how the most efficient performers are managing usage to reduce consumption and costs.
The Wiser App also does the same for heating, removing the chance of any power-exceeding costs. With smart heating management control, homeowners can remotely monitor and adjust the temperature of each room in their house and automatically reduce setpoints in unoccupied rooms. Through the Wiser App, homeowners can also adapt heating according to the weather and home insulation—all for an energy bill saving of up to €540 per year (£450 as a study in UK has shown).
To complete the portfolio of sustainable Home Energy Management solutions, Schneider Electric will also showcase the following products at IFA: the Wiser Energy Center, Resi9 Connect, PowerTag and its Odace Sustainable and Merten Ocean Plastic sockets and switches made from recycled material and fishing nets.
Pricing and availability
Products will be available between Q4 2022 and Q1 2023, according to each market. Pricing to be shared at local launches.
Visit Schneider Electric at IFA: Stand 123, Hall 5.2 for on-stand experiences and 1:1 energy consultations on how to reduce your personal carbon footprint.
Notes to editors
*Green charging mode available in 2023 in select countries
Briefings are available on site with spokespeople. Please contact This email address is being protected from spambots. You need JavaScript enabled to view it. to book a time slot.
High-res images available on request
Interviews will be available with executives from the Global Home & Distribution Division:
Yan Golaz, SVP Global Innovation Offer, Schneider Electric Home & Distribution
Sitao Ma, VP Connected Systems, Chief Technology Officer, Schneider Electric Home & Distribution
Thomas Petuaud-Letang, SVP Europe, Schneider Electric Home & Distribution
Dirk Kohlerm, VP Strategy, Schneider Electric Germany
About Matter
Matter is the industry-unifying standard that builds upon market-proven technologies and best practices. It aims to simplify connected experiences and provide greater interoperability in smart homes and buildings.
The new open-source, unified connectivity protocol, Matter, previously named CHIP (Connected Home over IP), will be applicable to many smart home and building solutions, including lighting, locks, speakers, HVAC controls, security systems, and routers. With Matter, instead of being limited to only those products that work with the smart system already in place, homes and businesses will now have the choice to integrate the new Matter certified devices that best fit their needs, regardless of brand.
Matter is built using IP and will deliver improved cyber security, native cloud connectivity and device interoperability to consumers, manufacturers, product designers and developers alike. Additionally, with standard definitions for device models, and lifecycle events such as provisioning/onboarding, removal, error recovery, and software update, developers can also be more confident in the consistency and quality of their users' experiences across ecosystems.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags: #HomesOfTheFuture #NetZeroHomes #SchneiderElectric, #BeWiser, #IFA2022, #SmartHome
Schneider Electric Media Relations – Thomas Eck, (919) 266-8623; This email address is being protected from spambots. You need JavaScript enabled to view it.
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) today announced that its 2021 Schedule K-3, reflecting items of international tax relevance, is available online. Unitholders may access the information at https://www.taxpackagesupport.com/cheniere.
A limited number of Cheniere Partners unitholders – primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders – may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. To the extent Schedule K-3 is applicable to a unitholder’s federal income tax return filing needs, Cheniere Partners encourages unitholders to review the information contained on this form and refer to the appropriate federal laws and guidance or consult with a tax advisor.
Cheniere Partners does not plan to mail copies of the Schedule K-3 to unitholders. To receive an electronic copy of the Schedule K-3 via email, unitholders may call Tax Package Support toll-free at 1-866-709-8182 weekdays between 8 a.m. and 5 p.m. CST.
About Cheniere Partners
Cheniere Partners owns the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, which has natural gas liquefaction facilities consisting of six operational liquefaction Trains with a total production capacity of approximately 30 mtpa of LNG. The Sabine Pass LNG terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers, and two marine berths with a third marine berth under construction. Cheniere Partners also owns the Creole Trail Pipeline, which interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines.
For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere Partners’ financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding Cheniere Partners’ anticipated quarterly distributions and ability to make quarterly distributions at the base amount or any amount, (iii) statements regarding regulatory authorization and approval expectations, (iv) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (v) statements regarding the business operations and prospects of third-parties, (vi) statements regarding potential financing arrangements, (vii) statements regarding future discussions and entry into contracts, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners’ actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners’ periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements.
Cheniere Partners
Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
Phil West, 713-375-5586
TORRANCE, Calif.--(BUSINESS WIRE)--Sonsray’s Salinas store expands as a dual location serving both construction and agriculture equipment. Previously, Sonsray Salinas was solely a CASE IH agriculture equipment distributor but is now a CASE Construction Equipment distributor as well. Customers can conveniently find both equipment lines under one roof. The state-of-the-art facility is equipped for new & used sales, rentals, parts and service.
“Bringing CASE Construction Equipment to the Salinas market is a great move. There has been no dealer representation for Case CE for over 10 years. The local contractors are excited to have Sonsray here to fulfill their equipment demands, especially with parts and service for their existing equipment. Having access to fully qualified technicians to handle all of their service needs is long overdue. As a dual branch, the Salinas team is looking forward to taking care of both our agriculture and construction customers,” says Tim DeFrece, General Manager at Sonsray Salinas.
About
Sonsray was founded in 2012 and is the largest CASE Construction Equipment distributor in the western US with 15 locations throughout Washington, Oregon, California, Nevada and Arizona.
Sonsray carries the complete line of CASE Construction Equipment in addition to Tiger Mowers, Okada demolition hammers, BOMAG and a wide variety of ground engaging tools and attachments.
Sonsray services 5 industries: Agriculture, Construction, Transportation, Rental Transportation and Rental Construction with many stores located throughout the United States.
Jasmine Sim
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HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, October 25, 2022, to discuss its third quarter 2022 financial results. The call will begin at 8 a.m. CT (9 a.m ET).
The Company will issue a press release regarding the third quarter 2022 earnings prior to the conference call. The press release will be posted on the Halliburton website at www.halliburton.com.
Please click here to pre-register for the conference call and obtain your dial in number and passcode. You can also visit the Halliburton website to listen to the call via live webcast. A recorded version will be available under the same link immediately following the conclusion of the conference call.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 45,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Investor Relations Contact
David Coleman
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281-871-2688
Press Contact
Emily Mir
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281-871-2601
LONDON--(BUSINESS WIRE)--Moove, the world’s first mobility fintech and Uber’s largest vehicle supply partner in EMEA, is announcing its launch in London as part of its global expansion.
Moove, an African-born startup with a growing global customer base of mobility entrepreneurs, has launched in Europe with a 100% EV rent-to-buy model that provides access to brand new, zero-emissions vehicles for a flat weekly fee. Moove aims to be the largest EV partner on Uber’s platform in London with plans to scale to up to 10,000 vehicles by the end of 2025, creating sustainable earnings opportunities and contributing to the city’s net zero carbon emissions goals.
London is the global leader for Uber’s electrification efforts with over 6,000 EVs on the platform – the most of any Uber city. Moove’s London launch will enable Uber to progress towards its goal of becoming an all-electric platform in the capital by 2025.
Transforming mobility gig economies through vehicle finance
Founded by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove launched in Lagos, Nigeria in 2020 to democratise access to vehicle ownership. Having now scaled to nine markets across sub-Saharan Africa and India, Moove is leading the charge in the ‘mobility fintech sector’, a white space it created and which is solving the challenge of limited access to vehicle financing for millions of gig workers across ride-hailing, logistics, and instant delivery sectors, of which there are around 4.5 million in the UK alone.
Moove’s alternative credit scoring technology provides access to vehicle financing to gig worker customers who may have previously been excluded from financial services. Over the past two years, Moove has enabled sustainable job creation and a path to asset ownership with its customers having completed over 7 million trips in Moove-financed vehicles.
In London, Moove’s innovative approach to vehicle financing is designed to empower its customers with access to brand new, zero-emission vehicles with an easy sign-up process as well as no credit checks, upfront costs, or deposit needed. Other services include regular maintenance, MOT, vehicle insurance, health insurance and a dedicated customer success team, a product offering not matched by any other company partnered with Uber's Clean Air Plan.
In addition, Moove customers driving with Uber can reduce their weekly payments by using funds raised through Uber’s Clean Air Plan to help them meet the cost of switching to an EV. Uber’s Clean Air Plan has raised over £145 million, equating to approximately £3,000 per driver. Moove estimates that the 10,000 EVs it plans to finance by 2025 in London will contribute a reduction of around 63,000 megatonnes of carbon dioxide emissions per year.
Ladi Delano, co-founder and co-CEO at Moove, said: “We are proud to have built a business in Africa to now be able to scale our model here in Europe, which is something that no other African fintech company has done before. This also marks a milestone of firsts for us; as we are excited to be launching with our first 100% EV fleet. We are thrilled to be expanding our partnership with Uber to drive our commitments towards the electrification of mobility.”
Andrew Brem, general manager at Uber UK, said: “Our aim at Uber is to become a 100% electric platform in London by 2025 and we understand that drivers need access to financing if they want to make the transition to an electric vehicle. Moove’s model will help more Uber drivers switch to pure electric faster, to reduce their running costs and help clean up London’s air. With demand from riders higher than ever, our partnership with Moove will benefit drivers and riders alike.”
Driving the electrification of mobility
Moove aims to solve many of the pain points facing its customers when switching to an electric car over a petrol or diesel-powered vehicle. Moove has launched the first end-to-end charge experience and complete EV charging network app specifically for ride-hailing drivers called Moove Charge™. The app enables Moove customers to locate, control, and pay for charging across one of the largest roaming networks in London, covering over 6,600 slow, fast and rapid charge points. Altogether, this provides a better and easier experience for drivers as well as riders as it enables more electric cars to be on the road and reduced wait times for Uber’s growing customer base.
About Moove
Moove is an African-born global start-up and the world’s first mobility fintech, providing revenue-based vehicle financing and financial services to mobility entrepreneurs. By embedding its alternative credit scoring technology onto ride-hailing, e-logistics and instant delivery platforms, Moove uses proprietary performance and revenue analytics to underwrite loans to drivers that have previously been excluded from financial services.
Moove
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MUMBAI, India--(BUSINESS WIRE)--Indian Oil Corporation Limited, India’s flagship national energy major, has collaborated with Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, to enhance customer payment experiences and streamline its operations. IndianOil customers can now pay with their choice of multiple payment platforms through smart POS terminals deployed at over 15,000 IndianOil retail fuel outlets across the country, seamlessly redeem loyalty points, and reduce their wait time at the fuel outlet.
Through the Carat operating system from Fiserv, IndianOil has access to a cloud-based platform that enables the processing of debit cards, credit cards, FASTag-enabled payments, QR payments, Unified Payments Interface (UPI) instant real-time payments, and digital wallets. IndianOil outlets nationwide are seamlessly connected with Fiserv for acceptance of digital payments and IndianOil loyalty schemes, XTRAREWARDS and XTRAPOWER, enabling customers to redeem loyalty points for fuel purchases. This integration will benefit IndianOil with advanced analytics and reporting, and efficient and precise reconciliation.
Shri Sandeep Makker, Executive Director (Retail Transformation), IndianOil, said, “As one of the largest fuel retailers in the country, we aim to offer a world-class experience to customers at our retail outlets. The partnership with Fiserv will amplify our variety of payment solutions. We are confident that this partnership will further accelerate the use of digital payments at IndianOil retail outlets through an enhanced payment experience.”
Speaking on this partnership, Kunal Gothivarekar, Head of Merchant Acceptance at Fiserv in India, said, “Fiserv is committed to providing an enhanced payment experience for IndianOil at each of their outlets. Our innovative transaction processing system has been specifically designed to connect and integrate seamlessly with IndianOil systems, facilitating centralised reporting and analytics for better business management, while their customers benefit from a fast and convenient checkout experience. We intend to build on this partnership through the introduction of additional innovations.”
Carat from Fiserv is the unified, simple, global operating system that enables payments anywhere and anytime, optimizes commerce across channels, and delivers embedded finance in ways that create new customer experiences. Shifting consumer habits and rapid adoption of new technologies are transforming how consumers engage with businesses. Carat helps businesses lean into this transformation and build more engaging experiences by connecting commerce across digital and physical settings.
About Indian Oil Corporation Limited
IndianOil is a diversified, integrated energy major with presence in almost all the streams of oil, gas, petrochemicals, and alternative energy sources. With a net profit of Rs. 24,184 crores for the fiscal 2021-22, IndianOil is one of the largest and most trusted corporates in the country, touching the lives of over a billion Indians. With a 33,500-plus workforce, extensive refining, distribution & marketing infrastructure, and advanced R&D facilities, IndianOil has provided energy access to millions of people across the length and breadth of the country through its ever-expanding network of customer touchpoints, currently numbering over 50,000.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years.
Visit fiserv.com and follow on social media for more information and the latest company news.
FISV-G
Media Relations:
Amit Gidwani
Director, Marketing & Communications Fiserv, Inc.
+ 91 98200 45638
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Additional Contact:
Deepanshu Shukla
Account Manager
Ruder Finn India
+91 8888887892
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HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today that its 2021 Schedule K-3 reflecting items of international tax relevance is now available online. Crestwood unitholders requiring this information may access their Schedule K-3 at www.taxpackagesupport.com/CEQP. Crestwood preferred unitholders may access the Schedule K-3 at www.taxpackagesupport.com/CEQP_preferred. Additionally, the 2021 Schedule K-3 for Oasis Midstream Partners LP (“Oasis Midstream”), which was acquired by Crestwood on February 1, 2022, is available online at www.taxpackagesupport.com/Oasis.
A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. To the extent Schedule K-3 is applicable to your federal income tax return filing needs, Crestwood encourages you to review the information contained on this form and refer to the appropriate federal laws and guidance or consult with your tax advisor.
Crestwood is not planning to mail copies to the Schedule K-3 to investors. To receive an electronic copy of your Schedule K-3 via email, you may reach out to Tax Package Support at the respective numbers below:
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminaling, and marketing of NGLs; gathering, storage, terminaling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Crestwood Equity Partners LP
Investor Contacts
Andrew Thorington, 713-380-3028
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Vice President, Finance and Investor Relations
Rhianna Disch, 713-380-3006
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Director, Investor Relations
Sustainability and Media Contact
Joanne Howard, 832-519-2211
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Senior Vice President, Sustainability and Corporate Communications
DUBLIN--(BUSINESS WIRE)--The "Directional Drilling Solutions & Services Market - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Directional drilling or slant drilling is a method of drilling non-vertical drills. Directional drilling is used for various purposes including to increase the number of wells from a single location, increase access to remote surface locations, and others.
Various types of directional drilling include, horizontal wells, multilateral wells, and extended reach wells.
The market in this report is studied across solutions, services, and applications. Across solutions, the market is further segmented into new purchase and rentals. Both sub-segments include, measurement-while-drilling (MWD) tools, logging-while-drilling (LWD) tools, Rotary steerable systems (RSS) tools, mud motors, and others. Services segment is further studied across MWD services, LWD services, RSS services, repair & maintenance, and consulting & other services.
Market Dynamics
Advancement in directional drilling such as measurement while drilling (MWD) and downhole motor (DHM) technologies have led to development of unconventional oil and gas resources by improving access to the reservoir from surface locations and increasing reservoir contact.
Key features of the study:
Market Segmentation:
Global Directional Drilling Solutions & Services Market, By Solution:
Global Directional Drilling Solutions & Services Market, By Services:
Global Directional Drilling Solutions & Services Market, By Application:
Global Directional Drilling Solutions & Services Market, By Region:
Company Profiles - Manufacturers
Company Profiles - Rental Services Providers
For more information about this report visit https://www.researchandmarkets.com/r/y5pwh
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BERLIN--(BUSINESS WIRE)--IFA -- Schneider Electric, the leader in digital transformation of energy management and automation, is launching its revolutionary EVlink Home Smart Charger at IFA 2022. The charger is the world’s first to intelligently manage the heavy EV energy load at home and prioritize renewable energy sources.
Schneider Electric’s new EVlink Home Smart charger is the first on the market that integrates into a complete ecosystem of home energy management to monitor EV power consumption in real-time, predict spending, and set budgets with ease with four different modes: ‘charge now’, ‘green charging*’, ‘cost effective’, and ‘customized schedule’. Connecting to the complete Home Energy system, homeowners can control all of their electrical devices and monitor their consumption through a single application.
EV Charger uptake is on the rise as consumers make more sustainable lifestyle choices to reduce their carbon emissions but charging your car must be convenient and affordable. An EV can increase home energy loads by up to 40% (not to mention the impact on already skyrocketing energy bills). It’s a worry for eco-conscious homeowners as houses already generate more carbon emissions than transportation, industry, or energy production.
Thanks to its ability to connect seamlessly and fully integrate with Schneider Electric’s Wiser Home Energy Management system, users can face this worry head on, all from the palm of their hand. Users can control how and when their EV is charged and balance charging against other energy guzzling devices, via their mobile whenever they need to, wherever they are.
Initiating ‘cost effective’ mode
By activating the ‘cost effective’ mode, Wiser can help to avoid costly bills by creating the most efficient schedule based on the cheapest electricity tariff available. For homeowner’s who have set energy limits, Wiser can also stop charging each time consumption reaches the power limit contract, ensuring bills stay under control, forever.
Wiser's intelligent energy management system automatically balances the loads to enable minimal disruption and maximum efficiency for homeowners. For instance, if they begin cooking, the system syncs with Wiser to understand energy consumption in conjunction with other appliances in real time to avoid any disruption or tripping. It brings ultimate convenience, allowing you to charge your car without interrupting the rest of your lifestyle.
It’s easy being green
In 2023, users will have access to the ‘green mode’ where homeowners can fully utilize the power of renewable energy. For example, if solar energy is available, the system will automatically switch to this source. Additionally, when solar power is at its peak conversion time, your EV can be set to charge at this time, avoiding having to use costly grid energy.
For extra insights into your carbon footprint, the App also provides updates on your CO2 consumption, allowing you to make more informed decisions about where further savings can be made.
Optimizing our energy use, making better decisions about sustainability, and ensuring our cars are charged and ready to drive when we need them is all about making our energy, and homes, work harder for us and the planet.
The EVlink Home Smart charger is the latest addition to the smart and sustainable home energy management portfolio of EV chargers from Schneider Electric:
The EVlink Mureva socket - suitable for small vehicle, bikes or motorbikes
The new EVlink Pro AC - for residential, commercial, offices or industrial buildings
Pricing and availability
The EVlink Smart Home Charger will be available in Q4 2022. Pricing to be shared.
Visit Schneider Electric at IFA: Stand 123, Hall 5.2 to learn more about the full EV charger range and for 1:1 energy consultations on how to reduce your personal carbon emissions and energy consumption.
Notes to editors
*Green charging mode available in 2023 in select countries.
Briefings are available on site with spokespeople.
High-res images available on request
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags: #HomesOfTheFuture #NetZeroHomes #HomeCharging #SchneiderElectric, #BeWiser, #IFA2022, #SmartHome*
Thomas Eck
(919) 266-8623
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CAIRO--(BUSINESS WIRE)--In line with its mission to pioneer the energy transition industry, Alfanar has signed a memorandum of understanding (MoU) with the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA), aiming to develop a green ammonia facility in Sokhna. The $3.5 billion project will use renewable energy sources and produce 500,000 tons of green ammonia from 100,000 tons of green hydrogen per year.
The agreement was signed in the presence of His Excellency Mostafa Madbouly, Prime Minister of Egypt, Mohamed Shaker, Minister of Electricity and Renewable Energy, Hala Elsaid, Minister of Planning & Economic Development along with a number of Saudi officials, including Mr. Faisal Al-Yemni, Deputy Minister for Investment, and Mr. Mazyad Al-Hoishan, Saudi Consul in Egypt.
Sabah Al-Mutlaq, Chairman of Board of Directors of Alfanar Global Development stated, “We have enjoyed a long-standing relationship with Egypt and are thrilled to partner with such esteemed organizations of national importance on this program. Through this agreement, we will be developing a project to produce green hydrogen and green ammonia.”
Alfanar has enjoyed a strong presence in Egypt for many years through its design and energy industry as well as renewable energy development projects. Alfanar was one of the first companies across the globe to operate a 50MW solar project in the Benban Solar Park in the Aswan region of Egypt. The electricity generated from this solar plant currently offsets around 57,000 tons of carbon dioxide emissions per year.
About Al Fanar:
Today, Alfanar is a prominent global player in energy transition and green fuel with ambitious renewable energy projects across Saudi Arabia, United Kingdom, Spain, India, and Egypt. It is currently developing a pioneer project to produce green aviation fuel from waste in the United Kingdom, and aspires to continue its active participation in the new and renewable energy industry, whether with its industrial arm among the major manufacturers of wind turbines in the Asia, or by expanding the development of wind and solar energy projects in Egypt.
*Source: AETOSWire
Sherif Ghanem
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Mobile : +966544729387
TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that Mark Smith, Senior Vice President and Chief Financial Officer; John Bell, Senior Vice President of International and Offshore Operations; and Dave Wilson, Vice President of Investor Relations plan to participate in the following investor conferences during the month of September 2022. Participation by the management team will vary by event.
Investor slides to be used during the conferences are available for download on the company’s website, within Investors, under Presentations.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.
IR Contact:
Dave Wilson, Vice President of Investor Relations
918-588-5190
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today new contracts and contract extensions, with associated contract backlog of $149 million, awarded subsequent to issuing the Company’s most recent fleet status report on July 28, 2022. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are 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 include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," “likely,” "plan," "project," "could," "may," "might," “should,” “will” and similar words. The forward-looking statements contained in this press release are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the COVID-19 outbreak and global pandemic and the related public health measures implemented by governments worldwide; the cancellation, suspension, renegotiation or termination of drilling contracts and programs, including drilling contracts which grant the customer termination rights if final investment decision (FID) is not received with respect to projects for which the drilling rig is contracted; oil and natural gas price volatility, customer demand for drilling rigs; downtime and other risks associated with offshore rig operations; severe weather or hurricanes; changes in worldwide rig supply, competition and technology; risks inherent to shipyard rig reactivation, upgrade, repair or maintenance; our ability to enter into, and the terms of, future drilling contracts; suitability of rigs for future contracts; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to obtain financing, fund capital expenditures and pursue other business opportunities; the effects of our emergence from bankruptcy on the Company's business, relationships, comparability of our financial results and ability to access financing sources; actions taken by regulatory authorities or other third parties, including related to the COVID-19 global pandemic; increased scrutiny of Environmental, Social and Governance (“ESG”) practices and reporting responsibilities; changes in customer strategy; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; environmental or other liabilities, risks or losses; debt agreement restrictions that may limit our liquidity and flexibility; failure to satisfy our debt obligations; and cybersecurity risks and threats. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, which is available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contacts:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
Tim Richardson
Director - Investor Relations
+1-713-979-4619
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) announced today that Doug Pferdehirt, Chair and Chief Executive Officer, will address attendees on Tuesday, September 6, at 1:50 p.m. EDT at the following event:
Barclays CEO Energy-Power Conference
September 6 – 8, 2022
Location: Sheraton New York Times Square, 811 Seventh Avenue, New York, NY 10019
The live webcast and accompanying presentation slides will be available at the time of the event and can be accessed at the Investor Relations website. An audio replay of the webcast for the presentation will be available on this same website for 180 days.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments – Subsea and Surface Technologies – we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Senior Vice President, Investor Relations and Corporate Development
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 281 591 5405
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Leading Australian consumer health manufacturer upgrades to latest generation enterprise SaaS Platform
ATLANTA--(BUSINESS WIRE)--#SCM--Demand Management Systems (DMS), a leading global resource for Logility’s cloud-based digital supply chain management solutions, today announced its client PharmaCare Laboratories will upgrade to the latest generation of the Logility Digital Supply Chain Platform, helping them to support strategic, operational and tactical supply chain initiatives with preeminent planning capabilities.
Australian and family owned, PharmaCare is the largest private, consumer health, wellness and consumer goods company in the country. Their brands can be found in thousands of pharmacies, supermarkets, department and variety stores across 40 countries worldwide, including in Australia, Asia, America and Europe. To better manage its increasingly global and complex network, PharmaCare went to market to look for a solution that would enable its teams to plan demand and supply, collaborate, and manage inventory within a single platform.
“To successfully manage our many brands and the markets we serve, it is critical for our teams all over the world to be operating together in one easy-to-use platform,” said Howard Biggs, General Manager – Ops, Supply Chain, Warehousing and Distribution, PharmaCare. “The Logility Platform positions us to better streamline our supply chain efforts globally and ensure we can successfully plan for whatever the future has in store.”
The Logility SaaS platform supports the speed of today’s business by enabling supply chain professionals to leverage real-time analytics and power a more digital supply chain network. The solution combines artificial intelligence (AI) and advanced analytics to automate planning, accelerate cycle times, increase precision, improve operating performance, break down business silos and deliver greater visibility.
“When you have over a dozen product lines in high demand across the world, supply chain planning and real-time visibility become crucial to keeping your network up and moving,” said Bill Harrison, president, Demand Management, Inc. “We value our continued partnership with PharmaCare as they enter this next stage of their growth journey and look forward to what’s next for this beloved Australian-built brand.”
About PharmaCare Laboratories
Founded in 1985 and headquartered in Warriewood, Australia, PharmaCare is proud to be one of the largest Australian Owned Consumer Packaged Goods companies spanning multiple household industries.
About Demand Management, Inc.
Leveraging a software-as-a-service (SaaS)-based Digital Supply Chain Platform, Demand Management, Inc. (DMI) a wholly owned subsidiary of Logility, Inc., part of the American Software, Inc. (NASDAQ: AMSWA) portfolio, delivers easy-to-use solutions for manufacturers and distributors designed to sense and respond to dynamic markets, accelerate and automate decisions, increase forecast accuracy, improve customer service levels, and reduce overall inventory to maximize profits and lower costs.
The digital supply chain platform available through DMI transforms sales and operations planning (S&OP) and integrated business planning (IBP) processes; demand, inventory and replenishment planning; global sourcing; quality and compliance management; product life cycle management; supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning, assortment and allocation spanning the entire concept to customer lifecycle, including PLM, SCM, quality and compliance, as well as integrated business planning and demand, inventory, supply and retail optimization.
Demand Management clients include Siemens Healthineers, AutomationDirect.com, and Newfoundland Labrador Liquor Corporation. To learn more how Demand Management can help you, please visit www.demandsolutions.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. References below to the Company means Demand Management, Inc. There are a number of factors that could cause actual results or performance to differ materially from what is anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty and the timing and degree of business recovery; the irregular pattern of the Company’s revenues; dependence on particular market segments or clients; competitive pressures; market acceptance of the Company’s products and services; technological complexity; undetected software errors; potential product liability or warranty claims; risks associated with new product development; the challenges and risks associated with integration of acquired product lines, companies and services; uncertainty about the viability and effectiveness of strategic alliances; American Software, Inc.’s ability to satisfy in a timely manner all Securities and Exchange Commission (SEC) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc.’s current Form 10-K and other reports and documents subsequently filed with the SEC. For more information, contact: Kevin Liu, American Software, Inc., (626) 657-0013 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Marti Kirsch
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Innovative new energy platform allows residents, communities, and businesses to share excess clean power and “island” from the legacy distribution system
HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, announced it has applied to the California Public Utilities Commission (“CPUC”) to develop a first-of-its-kind solar and storage focused “micro-utility” in California.
Sunnova formed a wholly-owned subsidiary called Sunnova Community Microgrids California, LLC (“SCMC”) to own and operate EaaS offerings in new communities including energy generation, storage, and distribution infrastructure. SCMC seeks to develop largely self-sustaining micro-utilities by equipping new home communities with solar and storage to provide consumers with a better energy service that allows them to live in a more resilient home and community with latest-generation energy infrastructure. SCMC will focus on newly constructed homes, allowing the company to work with developers to design and implement distributed solar-powered microgrids for communities that will benefit from improved sustainability and clean, resilient and reliable power. These communities will be known as Sunnova Adaptive Communities™.
“Community microgrids are the future as they offer the unique ability to share excess electricity, putting the power in the hands of homeowners and significantly enhancing the resiliency of communities,” said William J. (John) Berger, founder and Chief Executive Officer of Sunnova. “Sunnova is breaking new ground by expanding its distributed energy service platform from homes to whole communities. We see a future where communities, neighborhoods, and businesses can operate independently from the legacy grid with sustainable energy sources that provide uninterrupted power.”
“We believe microgrids address a strong need in the market for more robust energy solutions and better connectivity,” added Berger. “The Sunnova Adaptive Community™ will provide consumers with the ability to produce, share, and deliver power when it’s needed most. SCMC’s application highlights the relief that the existing transmission and distribution system will experience given that most of the power that will be consumed by these communities will be generated locally from renewable resources. We hope the CPUC moves expeditiously to approve our application so that we can begin serving new communities.”
On August 16th, President Biden signed the Inflation Reduction Act, which brings incentives for renewables and the clean technology required to monitor and control microgrids where communities share power and can island from the grid.
Today, SCMC took formal steps before the CPUC to qualify as a “micro-utility” and to request a certificate to construct and operate microgrids under Section 2780 and Section 1001, respectively, of the California Public Utilities Code. Sunnova views micro-utilities as a path forward for qualified companies to propose to construct multi-property microgrids for residential and commercial customers in California. By submitting its application to the CPUC, SCMC seeks to be the first solar and storage focused “micro-utility” company in California to be certificated to own and operate nanogrids (behind the meter) and community assets, including the distribution infrastructure (front of the meter), as part of integrated microgrid communities. SCMC community assets will include complete distribution infrastructure and energy assets including solar, battery storage, and emergency generation.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “going to,” “could,” “intend,” “target,” “project,” “contemplates,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the implementation and benefits of the application and the microgrid program. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, supply chain uncertainty, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021 and our subsequent Quarterly Reports on Form 10-Q. The forward-looking statements in this press release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading Energy as a Service (EaaS) provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®. For more information, please visit sunnova.com.
Media Contact
Alina Eprimian, Director, Communications
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Investor Relations Contact
Rodney McMahan, Vice President, Investor Relations
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877-770-5211
Previously drilled and completed horizontal Austin Chalk well is showing over 500% improvement in oil production after completed project
FAYETTEVILLE, Ark.--(BUSINESS WIRE)--Fortium Holdings Corp. (“Fortium”) (OTC: FRTM), today announced that Fortium’s indirect wholly-owned subsidiary, White River Operating LLC (“White River”), has successfully completed a workover project as the operator of record on the Deshotel 24H 001 Well (“Deshotel Well”) in the Bayou Jack North Field in Avoyelles Parish, Louisiana. The Deshotel Well was originally drilled and completed by White River in early 2021 as an open-hole lateral Austin Chalk oil and gas well (see press release here). Production had been inhibited on the Deshotel Well due to a build-up of paraffin in the well’s vertical casing and tubing. White River performed a workover procedure on the Deshotel Well, which involved a heavy water flush into the wellbore to remove a substantial paraffin blockage and also installed artificial lift to increase the production rate. The initial results of the workover procedure have greatly exceeded expectations with over a 500% increase in current production rates being realized at the Deshotel Well. As the well has returned online numerous pumper readings have shown initial production rates as high as 30 barrels of oil produced per hour, although typically initial production rates decline over time.
Fortium’s Executive Chairman, Randy May, stated, “We are ecstatic with not only the results of this workover procedure but also the return on investment as this was an extremely low-cost procedure performed by our own vertically integrated oil and gas operation. In addition to our plan to continue drilling new oil wells, we will continue to monitor our existing portfolio of wells for opportunities to perform workover procedures to increase oil production in an efficient manner.”
White River’s Field Operations Superintendent, Larry Parker, stated, “My team and I analyzed the paraffin issue at the Deshotel Well and correctly determined that removing the well’s packer, adding chemicals to the well’s casing, and performing the heavy water flush and artificial lift addition would be the optimal procedure to remove the blockage in the well’s tubing. We’re very happy with the well’s post-procedure production and oil cut and are looking forward to aggressively drilling out our leasehold now that White River has been acquired by Fortium.”
As previously announced, White River is currently conducting a drilling project at the Harry O’Neal 20-9 No. 1 well and recently committed to acquiring two additional drilling rigs to add to its equipment portfolio (see press release here). White River will have both the equipment and the new enhanced team, which will be capable of conducting completely in-house drilling projects up to 30,000’ horizontally in formations on our leases, including the Austin Chalk and Tuscaloosa Marine Shale.
Furthermore, White River was recently sold by Ecoark Holdings, Inc. (“Ecoark”) (NASDAQ: ZEST) to Fortium in exchange for $30,000,000 of non-voting convertible preferred stock. Ecoark plans to spin off the underlying Fortium common stock to its shareholders of a future to be determined record date, subject to compliance with applicable securities laws (see press release here).
About Fortium Holdings Corp.
Fortium is a diversified holding company. Fortium’s principal subsidiary is White River. White River is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Louisiana and Mississippi.
Cautionary Note Regarding Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding Fortium’s drilling plans, acquisition of drilling rigs and Ecoark’s planned spin-off These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and Fortium does not undertake any obligation to update any of these statements publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. In addition to risks relating to the continuation of high oil prices, oil and gas drilling risks including dry hole risks and production issues like White River experienced with the Deshotel Well, regulatory pressures, and regulatory delays with Ecoark’s planned spin-off, investors should review risk factors, that could affect Fortium’s business and financial results which are included in Fortium’s Form 10-Q for the six months ended June 30, 2022 filed with the Securities and Exchange Commission.
Fortium Holdings Investor Contact:
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil affiliates have signed an agreement to sell all of ExxonMobil’s interests in the Aera oil-production operation in California to Green Gate Resources E, LLC, a subsidiary of IKAV.
The transaction involves a share sale of Mobil California Exploration & Producing Asset Company. In addition, ExxonMobil affiliates have entered into a separate agreement for the sale of an associated loading facility and pipeline system.
“This sale is part of our strategy to continually strengthen our industry-leading portfolio, focusing our investments in low-cost-of-supply oil and natural gas to meet consumer demand and create value for our shareholders,” said Liam Mallon, president of ExxonMobil Upstream Company.
Mobil California Exploration & Producing Company holds a 48.2% share of Aera Energy LLC and a 50% share of Aera Energy Services Company, a joint venture with Shell. It was formed in June 1997 and has operations in eight onshore fields. In 2021, Aera produced about 95,000 oil-equivalent barrels per day.
The sale does not affect ExxonMobil’s branded network of about 500 independently owned retail sites in California.
The transaction is expected to close in the fourth quarter of 2022, subject to regulatory approvals.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
Follow us on Twitter and LinkedIn.
Cautionary Statement
Statements of future events, strategic plans or future payments in this release are forward-looking statements. Actual future results, including future business plans, contingent payments and closing of the sale and purchase agreements, could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; granting of regulatory approvals for the closing of the agreements; satisfaction of other conditions specified in the agreements; the outcome of commercial negotiations; current or future market values and performance of assets; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com. We assume no duty to update these statements as of any future date.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
Media Relations
972-940-6007
MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. ("ProPetro" or the “Company") (NYSE: PUMP) today announced that STEP Energy Services (USA) Ltd., a subsidiary of STEP Energy Services Ltd. (“STEP”) (TSX: STEP) has acquired ProPetro’s Coiled Tubing assets, which were used for services including frac plug mill-out, wellbore clean-out, tubing-conveyed perforating and nitrogen pumping. ProPetro elected to receive consideration in the form of cash and shares in STEP, reflecting ProPetro’s confidence in STEP’s ability to grow the business and create value.
“This is a great transaction for ProPetro and all of our stakeholders,” said Sam Sledge, Chief Executive Officer of ProPetro. “Our goal was to rationalize our portfolio while positioning the Coiled Tubing business’ assets and talented team for even greater success. STEP is a leader in the coiled-tubing market, with a proven track record of growth and ability to bring new technologies to market. As part of STEP, the assets will have the appropriate scale to effectively compete and achieve their full potential. We are grateful for the contributions of our teammates who supported this business over the past several years, and are pleased that they will have the opportunity to transition to STEP, which shares our dedication to customers, and focus on operating safely, efficiently and effectively.”
Sledge continued, “We will continue to actively manage ProPetro’s portfolio of assets to ensure we have the best mix to serve our customers and create value for shareholders. At the same time, we continue to pursue value-enhancing opportunities to drive sustainable long-term growth, margin expansion and cash flow generation. We are confident we are taking the right steps to unlock the value inherent in ProPetro.”
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
About STEP
STEP is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Its combination of modern equipment along with its commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures. STEP has a high-performance, safety-focused culture and its experienced technical office and field professionals are committed to providing innovative, reliable and cost-effective solutions to its clients. Founded in 2011 as a specialized deep capacity coiled tubing company, STEP has grown into a North American service provider delivering completion and stimulation services to exploration and production (“E&P”) companies in Canada and the U.S. Its Canadian services are focused in the Western Canadian Sedimentary Basin (“WCSB”), while in the U.S., its fracturing and coiled tubing services are focused in the Permian and Eagle Ford in Texas, the Uinta-Piceance and Niobrara-DJ basins in Colorado and the Bakken in North Dakota.
Advisors
PPHB, LP acted as financial advisor to ProPetro in the transaction. Bracewell LLP acted as legal counsel for ProPetro.
Forward-Looking Statements
Except for historical information contained herein, the statements and information in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words “may,” “could,” “plan,” “project,” “budget,” “predict,” “pursue,” “target,” “seek,” “objective,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” and other expressions that are predictions of, or indicate, future events and trends and that do not relate to historical matters identify forward‑looking statements. Our forward‑looking statements include, among other matters, statements about our business strategy, industry, future profitability, expected fleet utilization, sustainability efforts, the future performance of newly improved technology, expected capital expenditures and the impact of such expenditures on our performance and capital programs, as well as STEP’s ability to grow its business and create value. A forward‑looking statement may include a statement of the assumptions or bases underlying the forward‑looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable.
Although forward‑looking statements reflect our good faith beliefs at the time they are made, forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the volatility of oil prices, the operational disruption and market volatility resulting from the COVID-19 pandemic, the global macroeconomic uncertainty related to the Russia-Ukraine war, and other factors described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it, including matters related to shareholder litigation. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements and are urged to carefully review and consider the various disclosures made in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings made with the SEC from time to time that disclose risks and uncertainties that may affect the Company’s business. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
Investor Contacts:
David Schorlemer
Chief Financial Officer
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432-688-0012
Matt Augustine
Senior Manager - Corporate Development & Investor Relations
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432-848-0871
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