DUBLIN--(BUSINESS WIRE)--The "Global Offshore Oil and Gas Pipeline Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The offshore oil and gas pipeline market is poised to grow by $3,754.62 million during 2023-2027, accelerating at a CAGR of 5.3% during the forecast period. The market is driven by the economic benefits of offshore pipelines than other oil and gas transportation modes, the surge in E&P activities, and rising global energy demand.
This report on the offshore oil and gas pipeline market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
The offshore oil and gas pipeline market is segmented as below:
By Product
By Sector
By Geography
This study identifies the advents in offshore pipeline inspection as one of the prime reasons driving the offshore oil and gas pipeline market growth during the next few years. Also, technological advents in offshore oil and gas pipelines and the increasing number of cross-border offshore oil and gas pipelines will lead to sizable demand in the market.
This report on the offshore oil and gas pipeline market covers the following areas:
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Sector
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/d78gop
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AUSTIN, Texas--(BUSINESS WIRE)--$ITI #EmergencyOperations--Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, announced that it has been chosen as the prime consultant for a multi-year master contract to design and integrate the network infrastructure at Fort Bend County’s new Emergency Operations Center.
This brand-new, $9.3 million facility is complete with state-of-the-art disaster management and public safety technology. It was built by the Fort Bend County Office of Homeland Security & Emergency Management to withstand hurricane winds and operate independently during an emergency should county utilities be unavailable.
Along with the brand-new facility, a new online dashboard will provide county residents with live weather and road information, including road closures, water levels, evacuation information and more.
Iteris will facilitate the design, construction oversight and integration of a minimum of 45 CCTV camera locations and the associated communication network to support this effort. The CCTV sites will monitor flood conditions around the nearby Brazos River and extensive levy system protecting Fort Bend neighborhoods.
The project will be conducted in two phases: phase one consisting of design and integration of six CCTV sites, as a proof-of-concept, and phase two for the design and integration of the remaining 39 locations. The master contract also includes a 5-year network maintenance agreement to manage and maintain the roadside devices.
“To date, there is no current network infrastructure completed on this building, so we are thrilled to make that happen,” said Cliff Heise, regional vice president consulting solutions at Iteris. “This project and this very capable facility will facilitate informing Fort Bend County citizens during emergency events and maximizing their safety when threatening conditions develop.”
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," “outlooks,” “target,” "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the impacts and benefits of our consulting services and statements about the awarded master contract. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to successfully carryout and complete the project on a cost-effective basis; government funding and budgetary issues, delays and timing; the impact of general economic, political, and other conditions in the markets we address; and the potential impact of product and service offerings from competitors and other competitive pressures. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
Media Contact
Breanna Wallace
Tel: (949) 996-5348
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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MADERA, Calif.--(BUSINESS WIRE)--Origo Investments is partnering with industry veterans, Amond World, to develop a state-of-the-art refrigerated cold storage facility in the Madera Airport Industrial Park, which will include two 250,000 square feet buildings, each holding approximately 50 million pounds of almonds or other recently harvested crops for farmers and processors.
The facility will provide short- and long-term storage and will increase profitability, extend almond shelf life by up to two years, and simplify hold costs and logistics. Cold storage for California's agricultural industry is a critical link in the supply chain that feeds our country and serves as an engine of economic growth for the state.
In order to guarantee energy access, reliability and cost economics while considering the sustainability of the facility, Origo has partnered with Scale Microgrids (“Scale”) to design, build, own and operate an off-grid clean energy microgrid providing cheaper, cleaner and more reliable power.
The microgrid system will include 1,200 kW of rooftop solar. Storage of the solar energy will be provided by a 1,200 kW/ 2,400 kWh battery system. The microgrid will include two 1,200 kW enhanced emission-reducing controllable generators.
“Central California produces 60% of all the nuts and citrus consumed in the U.S. each year, the almond industry alone produces 80% of the world’s global supply,” says Origo Investments principal Adam Hayner. “We believe that these new cold storage facilities will support local farmers through empowering them to more efficiently manage the sale of their crops over longer periods and ultimately to deliver higher profitability. To achieve this, we are building temperature-controlled storage that focuses on and prioritizes sustainability. Scale Microgrids is there to help support our commitment to the farmers.”
California is facing energy capacity shortfalls and extreme weather events, creating unpredictability for the local utility grid. The completely off-grid microgrid that Scale is building in Madera can run off of solar and storage alone for part of the day, a unique aspect for this size of a project.
“The developer came to us with a need for an off-grid, sustainable, and reliable power system for their facility in order to expedite their project development timeline”, says Ryan Goodman, Chief Executive Officer and co-founder at Scale Microgrids. “The sheer number of pounds of valuable inventory in this facility makes it absolutely impossible to have anything less than 100% continuous, reliable power. Our microgrid provides them with predictable, low energy costs for the long-term, clean power, and peace of mind. We both finance and operate the system, leaving Amond World with only needing to focus on the farmers and the almonds.”
Construction is already underway for the cold storage warehouses, where inside temperatures will dip down to 32 degrees. The energy system and buildings plan to be fully commissioned by May 2023.
About Scale Microgrids: Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge distributed energy assets that offer cheaper, cleaner, and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers, and OEMs, while also directly helping large energy-consuming customers to take charge of their energy infrastructure and future-proof their businesses.
About Origo Investments – www.origoinvestments.com
Origo Investments is an alternative investment platform focused on thematic real estate opportunities that deliver defensive, long-term, inflation adjusted income for institutional clients and family offices. Origo Cold Storage delivers secure, temperature / humidity controlled, and FDA compliant storage facilities for growers and processors at the start of the critical food supply chain.
Media Contact:
Nicole Green
Director, Marketing and Branding
Scale Microgrid
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401-595-3020
Positions Industry-Leading Provider to Capitalize on Innovation and Global Expansion Opportunities to Accelerate Growth
NEW YORK--(BUSINESS WIRE)--Z Capital Partners, L.L.C., the private equity fund management arm of Z Capital Group, L.L.C. ("ZCG"), a leading privately held merchant bank, today announced that affiliates of ZCG have acquired Universal Marine Medical Supply International (“Unimed” or the “Company”), the leading global provider of pharmaceutical and medical solutions to the maritime industry, serving both commercial and cruise end markets. Financial terms of the transaction were not disclosed.
Unimed provides a wide range of mission-critical medical and clinical supplies, including oxygen, surgery equipment, vaccines and pharmaceutical products, in addition to services such as oversight of procurement and replenishment, compliance audit and advisory, and clinical facilities management. The Company currently serves approximately 10,000 ships per year from 10 worldwide offices and access to over 2,000 ports, making Unimed the largest and most knowledgeable global operator within a highly fragmented sector of the maritime services industry.
Medical standards in the maritime industry are highly regulated, and ship operators can face severe consequences for lack of compliance with international standards and Flag of Convenience requirements. As the largest operator in the industry, Unimed is uniquely positioned to provide customers global just-in-time delivery, inventory management and decades of compliance experience with global maritime medical standards.
Under the ownership of the ZCG affiliates, Unimed will expand into the global areas of marine markets, including super yachts, yacht management companies and manufacturers, while continuing to expand and enhance medical supplies and services to cruise and commercial vessels, including tankers, cargo and freighters.
“Unimed has built a reputation for providing clients with exceptional value and essential, high-quality medical services, and there are a number of compelling opportunities in today’s fragmented maritime services market to grow its customer base and introduce new innovations,” said James Zenni, Founder, President and Chief Executive Officer of ZCG. “With Alan Kessman and the Unimed team, we look forward to leveraging new technologies and ZCG’s deep operational expertise to pursue the vast white space opportunities, further enhance customer service and ensure the health, safety and compliance of even more ships.”
“As we look to expand Unimed’s premier services to additional areas of marine traffic, having a partner with the resources, expertise and track record to help our business accelerate growth is invaluable,” said Alan Kessman, Chief Executive Officer of Unimed. “We have a long track record of innovation – including introducing the industry’s first subscription model in 2018 – and this partnership with ZCG will enable us to build on that momentum and reach new levels of success.”
About Unimed
Unimed is the industry leader in medical supply, equipment and oxygen distribution to global maritime industries, specializing in the delivery of integrated healthcare and safety supply chain logistical solutions to clients worldwide.
For more information, please visit https://universalmarinemedical.com/.
About ZCG
ZCG is a leading, privately held merchant bank comprised of private markets asset management, business consulting services, technology development and solutions.
For almost 30 years, ZCG Principals have invested approximately $30 billion and have industry leading track records in private equity and credit.
ZCG has approximately $5.2B of AUM in asset management and its investors are some of the largest and most sophisticated global institutional investors including pension funds, endowments, foundations, sovereign wealth funds, central banks, and insurance companies.
ZCG has a global team comprised of over 325 professionals. For more information, please visit www.zcg.com.
Media
Jonathan Keehner / Tim Ragones / Kate Thompson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Builds Upon Spearmint’s Significant Platform Growth and Development Since Launch in May 2022
MIAMI--(BUSINESS WIRE)--Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced that is has further expanded its team with the appointment of four energy industry professionals with deep expertise across project finance, technology, execution, and data science.
Spearmint’s recent hires include:
Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint, said, “We launched Spearmint with the goal of accelerating the delivery of stable, inexpensive, renewable energy to the power grid, and are extremely proud of the significant progress we have made in pursuit of this goal over the last seven months. We have worked hard to build a workplace environment that promotes integrity, innovation, and collaboration, comprised of a mix of talent across research, trading, development, and project finance. We are pleased to welcome Chris, Jeff, Nicolas, and Allen to Spearmint, and look forward to continuing to build upon our team growth and transaction momentum in the year ahead.”
The addition of these professionals follows other notable hires the Company has made since its launch in May 2022, including Nick Vamvakas as Chief Strategy Officer, Audrey Copeland as SVP of Strategy and Origination, Nick Dazzo as Head of Trading, and Prudence Heck as Head of Research and Analytics.
Richard Cardone, Chief Operating Officer of Spearmint, added, “Over the last several months, the Spearmint team has dedicated itself to solving today’s climate challenge, working diligently to begin adding storage capacity to the grid and building a team of professionals who share our passion of enabling the clean energy revolution. We are energized by the opportunities that lie ahead in the burgeoning battery energy storage market and are excited to execute on our robust development pipeline to advance energy reliability, resiliency, and safety.”
To date, Spearmint has acquired a 150 MW battery energy storage project from Con Edison Development, aptly named Revolution, which will serve West Texas’ ERCOT market. Expected to be one of the largest batteries in the state of Texas, Revolution is anticipated to reach notice to begin operation in the second quarter of 2023.
About Spearmint Energy
Founded by energy industry veteran Andrew Waranch in partnership with Kevin Kelley, CEO of Roscommon Analytics LLC, Spearmint is a next generation renewable energy company enabling the clean energy revolution through battery energy storage. The Spearmint platform is comprised of three distinct strategies, including battery and solar project development, energy storage offtake, and renewables power trading. For more information, please visit: https://www.spearmintenergy.com/
Media:
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Gasthalter & Co.
(212) 257-4170
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‘Living lab’ provides blueprint for sustainable residential electrical systems that could reduce emissions by 55% and save homeowners up to 44% of annual energy costs
PITTSBURGH--(BUSINESS WIRE)--Purdue University is using global software and engineering leader Emerson’s (NYSE: EMR) advanced digital technologies to automate its Nanogrid House, a living lab for energy-efficient home research. Compared to today’s homes and businesses that are powered predominantly by alternating current (AC) power, the Nanogrid House can shift between AC and direct current (DC) power, which increases the ability to use renewable energy and lowers homeowners’ energy costs.
High-voltage AC power from the grid must be converted to DC power to run household devices, wasting time and money. And while new renewable energy sources such as solar and wind deliver DC power directly, this power is not compatible with existing home electrical infrastructure. The Nanogrid House enables researchers to develop technologies to address these challenges in anticipation of a future nationwide shift to DC power.
"As we continue to face extreme weather, a DC-powered home is uniquely suited to the future of energy generation, empowering homeowners to turn their houses into nanogrids of efficient, self-sufficient production and consumption,” said Bob Yeager, president of Emerson’s power and water business.
Using Emerson’s renewable power expertise and Ovation™ software and technologies, Purdue University researchers have retrofitted an entire house to run on its own DC-powered nanogrid. The nanogrid integrates both AC power from local electric utilities and DC power from solar panels, wind turbines or battery storage.
These sustainable energy sources help reduce the house’s carbon footprint by an estimated 55% and lower annual energy costs by up to 44%. The Nanogrid House can also sustain itself for short periods of time by generating its own renewable energy and detaching from the grid through the help of on-site stored energy.
“As consumers add sustainable, DC-based electrical solutions to their homes, the need for a low-voltage, more energy efficient infrastructure will continue to increase,” said Eckhard A. Groll, William E. and Florence E. Perry head of mechanical engineering and Reilly professor of mechanical engineering, Purdue University. “Emerson’s expertise in automation software for power generation and sustainability helped us design a DC nanogrid solution that may someday become the national standard.”
Emerson’s Ovation™ software and technologies provide the project with a digital automation foundation integrating data provided by the home’s energy generation, heat and cooling production and battery storage assets. Ovation software operates as the “brain” of the home by managing voltage control, power distribution and load and intelligently optimizing operation of the nanogrid equipment.
Additional resources:
About Emerson
Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world’s essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.
For Emerson
Denise Clarke
512.587.5879
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today that it will host investor one-on-one meetings at the Wells Fargo Midstream and Utilities Symposium on Wednesday, December 7 and Thursday, December 8, 2022 in New York City. The latest investor deck of slides, which may be used to facilitate investor meetings, is accessible on the Enterprise website.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
The carrier also announces the first of its Freightliner eCascadia order is ready to roll off the assembly line
GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, will soon begin taking delivery of nearly 100 Class 8 battery-electric vehicles (BEVs) at its intermodal operations in Southern California.
Schneider’s first Freightliner eCascadia, manufactured by Daimler Truck North America (DTNA), is set to roll off the assembly line at the Portland, Oregon, DTNA plant.
The carrier had previously reported orders for 62 eCascadias. Now the company will deploy an additional 30 BEVs from DTNA. As a result, Schneider will have one of the largest electric fleets in North America, marking a critical step in the company’s efforts to operationalize zero-emission vehicles into its truck fleet.
“The integration of nearly 100 zero-emission vehicles is an important milestone for Schneider as we are moving beyond the battery-electric truck testing phase to running an operation at scale,” said Schneider President and CEO Mark Rourke. “In combination with rail movement, we can offer our intermodal customers meaningful emissions reduction value by utilizing BEV dray trucks.”
Battery-electric trucks are crucial in meeting Schneider’s sustainability goals of reducing CO2 per-mile emissions by 7.5% by 2025 and 60% by 2035. Schneider has already achieved more than half of its 2025 goal by reducing per-mile emissions by 5%. Battery-electric trucks will help further meet these goals.
Schneider has long pushed innovation in efficiency by running one of the most efficient fleets in North America.
The new eCascadias have the potential to avoid over 81,000 pounds of carbon dioxide emissions per day. Over the course of a year, that is equivalent to removing 2,400 gas-powered cars from the road.
Schneider is already familiar with electric vehicle technology, having piloted an eCascadia for six months through Freightliner’s Customer Experience fleet. The drivers who tested the eCascadia reported really enjoying driving the truck.
“As the leading heavy-duty truck manufacturer, we are fully committed to reduce emissions with our vehicles and to move the commercial transportation industry into a more sustainable future,” said DTNA Senior Vice President Sales and Marketing David Carson. “We are proud to share the same vision with Schneider and to partner closely with them on integrating eCascadias into their fleet.”
For more information on Schneider’s sustainability and innovation efforts, please visit: https://schneider.com/company/corporate-responsibility.
About Schneider
Schneider is a premier provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.
With nearly $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.
For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.
Kara Leiterman, Media Relations Manager
M 920-370-7188
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PORTLAND, Oregon--(BUSINESS WIRE)--ZincFive®, the world leader in nickel-zinc battery-based solutions for immediate power applications, announced it has raised $54 million in Series D funding. The Series D investment brings ZincFive’s total funding since inception to $139 million.
The funding accelerates ZincFive’s penetration into existing markets including mission critical applications in data centers, intelligent transportation, and industrial engine starting as well as providing the growth capital to enter new high-power energy segments and geographies. In addition to investments in channel and product development, the funding will accelerate the build-out of annual high-volume production capacity to meet rapidly growing customer demand.
Helios Climate Ventures led the current round. In addition to Helios, other pre-existing investors who also chose to make an investment in this round in further support of ZincFive’s mission and nickel-zinc power solutions include Senator Investment Group and Standard Industries. New investors include OGCI Climate Investments and Japan Energy Fund, among others.
“ZincFive is transforming the energy storage market and we are happy to be a part of this journey,” says Jesse Johnson, Managing Director at Helios Climate Ventures. “ZincFive’s nickel-zinc battery energy storage solutions are powerful, reliable, safe, and highly sustainable, having significantly lower end-to-end climate impact than alternative battery chemistries. As a result, the market is responding with commercial demand spiking and the customer roster rapidly expanding.”
“We are excited to join the impressive roster of ZincFive investors,” says Marc van den Berg, Managing Director at OGCI Climate Investments. “ZincFive’s technology significantly decreases the environmental and carbon impact surrounding the growing use of batteries to electrify commercial and industrial sectors. We see significant potential for ZincFive to collaborate with OGCI members and fellow portfolio companies on a range of applications.”
“It is great to see our current investors returning in the Series D round as well as to welcome new investors who recognize the current commercial success and substantial future company growth,” said ZincFive Co-founder and CEO Tim Hysell. “We are grateful to the investor community for their fervent support of ZincFive’s mission and global expansion. We look forward to continuing to bring innovative nickel-zinc technology to the market.”
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries and power solutions. With more than 90 patents awarded, ZincFive technology harnesses The Power of Good Chemistry to propel the world forward. ZincFive technology leverages the safety and sustainability of nickel-zinc chemistry to provide high power density and performance to mission critical applications. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
This press release contains “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “potential”, ”projects”, “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” “believes,” “anticipates” or similar expressions. Forward-looking statements may include, without limitation, expected financial positions; financing plans; business strategies and expectations; operating plans; capital and other expenditures; expansion of markets and product production; competitive positions; alternative energy investments and regulations; growth opportunities for existing products; and benefits from new technology. Actual results may differ materially from what is stated in this release. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, current and future markets for the company’s products developing differently than anticipated, new technologies entering the market, risks related to expanding our manufacturing and production, including adverse international conditions; adverse conditions in the data center, traffic or energy markets; competition from substitute products, new technologies and new or emerging competitors; adverse effects from general global economic and financial conditions, including inflation; new regulations; or a decrease in infrastructure spending. The company assumes no obligation to provide any revisions to, or update, any forward-looking statements.
ZincFive is a registered trademark and the ZincFive logo and The Power of Good Chemistry are trademarks of ZincFive, Inc.
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ROCKFORD, Ill.--(BUSINESS WIRE)--Founded in 1966 in Walton, Kentucky, Verst Logistics is an Inbound Logistics “Top 100” third-party logistics (3PL) provider, specializing in omnichannel fulfillment, shrink-sleeve labeling, dedicated transportation, and shipping brokerage with warehouses nationwide.
Several years ago, when the 3PL began observing that its legacy integration technology systems could not keep pace with the company’s immense growth, Verst turned to Cleo, the pioneer and global leader of the Ecosystem Integration software category. Overreliance on legacy integration software providers pigeonholed Verst because the vendors only supported a limited amount of technologies, connections, protocols, and document types. Once it became clear that these outdated technologies were preventing Verst from conducting business with a good number of big-brand companies, Verst began searching in earnest for a modern, innovative cloud-based B2B integration solution to address their evolving needs.
With 2,200 employees, 26 warehouse locations, 7.6 million square feet of warehouse space, and the ability to deliver to 85% of the U.S. in 1-2 days, Verst needed a cutting-edge EDI solution. When the 3PL came to Cleo, the two companies quickly got to work to migrate the 3PL to Cleo’s ecosystem integration platform and address Verst’s growth challenges.
Harnessing Cleo’s flagship product, Cleo Integration Cloud (CIC), Verst was able to tackle numerous EDI and integration challenges while simultaneously making vital operational improvements, including:
When asked why Verst selected Cleo to solve its EDI needs, SVP of IT, Macy Bergoon, said, “I worked with Cleo in the past and I appreciate how Cleo brings a strategic-partner mindset to each customer relationship. And some of our legacy partners just weren't in that category. When I need something from Cleo, I can make a phone call. It doesn't matter if it's a sales or technical person, I know Cleo will help me with whatever my problem is.”
Mr. Bergoon further added, “Cleo is continuously innovating Cleo Integration Cloud to support real-world EDI and API-based integration use cases with its unique single-platform solution, and as the B2B integration leader I’m confident Cleo will continue to meet and exceed the needs of the market.”
About Verst Logistics
Verst Logistics is an Inbound Logistics “Top 100” third-party logistics (3PL) company known for getting products to market faster, more efficiently, and more cost-effectively than most national or regional 3PL providers. Strategically headquartered in Northern Kentucky/Cincinnati, our family-owned supply-chain management firm specializes in fully integrated warehousing, logistics, transportation, and packaging services for a wide range of consumer goods and manufacturing companies. We make our customers first with their customers by providing those fully integrated supply chain services that streamline the logistics process, shorten dock-to-stock time, and reduce waste. For more information visit www.verstlogistics.com.
About Cleo Integration Cloud
Cleo Integration Cloud (CIC) is a cloud-based integration platform, purpose-built to design, build, operate and optimize critical ecosystem integration processes. The CIC platform brings end-to-end integration visibility across API, EDI and non-EDI integrations that gives technical and business users the confidence to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. On the platform, businesses have the choice of self-service, managed services, or a blended approach – ensuring complete flexibility and control over their B2B integration strategy.
About Cleo
Cleo is an ecosystem integration software company focused on business outcomes, ensuring each customer’s potential is realized by delivering solutions that make it easy to discover and create value through the movement and integration of B2B enterprise data. Cleo gives customers strategic, “outside-in” visibility into the critical end-to-end business flows happening across their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions empower teams to drive business agility, accelerate onboarding, facilitate the modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.
Kathleen See
10Fold Communications on behalf of Cleo
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Nordic Propeye’s HVAC solution leverages artificial intelligence to achieve 15-30% energy savings
CAMARILLO, Calif.--(BUSINESS WIRE)--Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, announced that Sweden-based Nordic Propeye, an end-to-end Internet of Things (IoT) solutions provider for smart buildings, has integrated Semtech’s LoRa® devices and the LoRaWAN® standard into its new HVAC optimization solution being launched today in the U.S. marketplace to reduce energy consumption.
Global pressure on energy prices, an increased focus on air quality and efforts to reduce carbon emissions are three factors prompting real estate owners to seek innovative IoT solutions to help manage their properties with building management systems. The U.S. Department of Energy estimates commercial buildings account for 35% of electricity consumed in the U.S. and generate 16% of the country’s carbon dioxide (CO2) emissions.
“Incorporating LoRa devices and connecting our solutions with LoRaWAN has proven extremely successful in achieving 15-30% energy savings for our customers since launching our European OY1210 HVAC optimization solution in 2019,” said Stefan Lindgren, CTO of Nordic Propeye. “We are excited to have adapted our solution to meet U.S. regulations and look forward to playing a key role making America’s real estate sector more efficient and sustainable.”
The U.S. version, OY1211, leverages LoRa to autonomously manage a facility’s control of HVAC systems using data from wireless sensor devices that continuously monitor CO2 levels, temperature, humidity, and real-time room occupancy. The adaptive reporting functionality of the solution can detect rapid changes in CO2 levels within less than a minute and the solution sends a trigger to the HVAC system every 15 minutes. The solution also leverages weather forecasting data and artificial intelligence (AI) technology to continuously learn and predict the temperatures of HVAC zones. The predictive maintenance feature alerts building operators when system anomalies arise to prevent equipment failures.
“LoRa devices and the LoRaWAN standard are digitally transforming property management with simplified, smart solutions around the globe,” said Marc Pégulu vice president and general manager for Semtech’s Wireless and Sensing Products Group. “Nordic Propeye’s unique solution, incorporating AI technology, allows existing properties to be easily converted to smart, sustainable buildings and delivers cost savings to customers and increased safety for occupants.”
For further information on Nordic Propeye’s IoT sensor solutions, please visit here.
Learn how LoRa devices enable cost-effective and efficient solutions for smart buildings here.
About Semtech’s LoRa® Platform
Semtech’s LoRa chip-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of long range, ultra-low power and cost efficient IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa technology provides the communication layer for the LoRaWAN® standard, which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 173 countries. Semtech is a founding member of the LoRa Alliance and produces the “The WAN Network Show” podcast to connect massive IoT end users to operators of LoRaWAN networks around the world. With the proliferation of LoRa devices and the LoRaWAN standard, the LoRa Developer Portal is a technical support platform for IoT innovators to learn, connect, collaborate, and find resources to help accelerate product development efforts and expedite time to market. To learn more about how LoRa enables IoT and creates a more sustainable and smarter planet, visit Semtech’s LoRa site.
About Nordic Propeye
Nordic Propeye has over 20 years of experience with digitization of residential housing buildings and has pioneered the Internet of Things industry with strong expertise in radio technology. The company connects over 60,000 apartments today and runs energy savings solutions on over ten million sq. ft. property. The company has made it its mission to help its customer to make their real estate and condominiums lean, clean and green. To learn more, visit www.nordicpropeye.com.
About Semtech
Semtech Corporation is a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the Nasdaq Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
Forward-Looking and Cautionary Statements
All statements contained herein that are not statements of historical fact, including statements that use the words “designed to” or other similar words or expressions, that describe Semtech Corporation’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the uncertainty surrounding the impact and duration of supply chain constraints and any associated disruptions; the uncertainty surrounding the impact and duration of the COVID-19 pandemic; export restrictions and laws affecting Semtech Corporation’s trade and investments including with respect to Huawei and certain of its affiliates and other entities identified by the U.S. government, and tariffs or the occurrence of trade wars; worldwide economic and political disruptions as a result of the current conflict between Russia and Ukraine; competitive changes in the marketplace including, but not limited to, the pace of growth or adoption rates of applicable products or technologies; downturns in the business cycle; and the additional risk factors set forth in Semtech Corporation’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (www.sec.gov) on March 16, 2022 as such risk factors may be updated, amended or superseded from time to time by subsequent reports that Semtech Corporation files with the Securities and Exchange Commission. Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its subsidiaries.
SMTC-P
Tam Nguyen
Semtech Corporation
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New partnerships expand footprint in core Davisware market
WEST DUNDEE, Ill.--(BUSINESS WIRE)--Davisware, a leading provider of cloud-based software for commercial field service companies, today announced its latest partnerships with Pump and Meter Service Inc. and Zahl-Petroleum Maintenance Company. These strategic partnerships strengthen Davisware’s position within the petroleum equipment services industry (PEI), which it has been serving for more than 20 years. By working closely with industry leaders to accelerate their digital transformation, Davisware has grown its PEI footprint by more than 135% over the last year.
Davisware’s all-in-one software is tailored to address the petroleum services industry’s unique business needs including scheduling and dispatching, inventory tracking, estimating, core returns management and mobile technician effectiveness. “Petroleum service organizations are increasingly looking for solutions to drive profitability and unlock greater organizational efficiency,” said Davisware CEO Curtis Brewer. “By collaborating with our partners, we have designed purpose-built software to increase customer cash flow and provide transparency into key operational metrics that help customers achieve their growth goals.”
As a company grows, the need for a system that offers efficiency and scale becomes a top priority. From the back office to field technicians, Davisware’s software can manage all functions and extends better visibility into new market opportunities. “Pump and Meter chose Davisware to provide a scalable solution that pulls all the pieces of the business together into one true enterprise resource planning (ERP) software,” said Travis Rittenbach, vice president of sales at Pump and Meter Service Inc. “It offers the highest-ranking multifaceted solution that fits our needs now and is customizable as we grow.”
The petroleum equipment industry is also complex, requiring a partner that fully understands its changing environment. Davisware’s experience and growth within this industry solidifies its role as a leader and it continues to enhance its technology to meet the demands of its expanding customer base. “After a six-month search for a partner, Davisware came to the table with solutions that fit our specific needs,” commented Jonas Layer, operations manager at Zahl-Petroleum Maintenance Company. “The team continues to listen to us while keeping us on track throughout the implementation process. We chose Davisware as a partner because of their commitment to evolving with us and helping us stay ahead of the game.”
To learn more about Davisware’s all-in-one solution and features available for the petroleum equipment services industry, visit www.davisware.com/petroleum-equipment-service-software/.
About Davisware
Davisware is a rapidly growing, leading provider of business management software to commercial field service organizations in the United States and Canada. Core industries served include petroleum equipment services, commercial food equipment services, and commercial HVAC. Headquartered in Chicago, Illinois, the company offers two premier SaaS solutions, GlobalEdge and Vision, that give businesses one fully integrated platform for all their operational, financial, and field needs in real-time. The company employs a diverse team who combines deep technical and industry expertise, along with the most current technology, to provide their customers with the tools and operational best practices that generate business-wide efficiencies, and greater profits. In 2019, Serent Capital made a meaningful investment in Davisware, which supports Davisware’s plan to further expand and strengthen its technology and customer support. For more information, visit davisware.com.
About Pump and Meter Service Inc.
Pump and Meter Service Inc., with headquarters in Hopkins, Minnesota, is a specialty contractor in the Petroleum and Automotive Industry since 1930. Not only has it been an industry leader for over 90 years but now with the adoption of EV Vehicles & Chargers it is strengthening its stance to be the EV Charging leader as well. Anything from vehicle fueling/EV charging, vehicle lifts/hoists, vehicle exhaust evacuation systems, Rotary wheel service (Tire changers, balancers & alignment systems). Complete Lube systems from bulk tanks to the dispensing nozzle. Pump & Meter can provide a turnkey system. pump-meter.com.
About Zahl-Petroleum Maintenance Co.
Zahl-Petroleum Maintenance Co. is a construction, service, and fuel recycling company with offices in Minneapolis, Minnesota and Mankato, Minnesota. It is a family-owned business established in 1952, is currently in its third generation and it is still going strong! One thing it is very proud of is its employees. It wouldn't be what it is today without them. Many of them have been working for the company for nearly 30 years. Each employee is hardworking and provides exceptional service and diligent work. All the employees know the company's equipment and products thoroughly. Count on Zahl-Petroleum Maintenance Co. when trained service techs are needed for petroleum equipment installations and other related services. zahl-pmc.com.
Liz Kozaritz
Davisware
847-426-6000
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Nithya Venkatesan and Patrick McKinnon provide expertise to support the growth of alternative assurance for energy
HOUSTON--(BUSINESS WIRE)--#AlternativeAssurance--Navitas Assurance Partners today announced the addition of two senior leaders to its energy team: Nithya Venkatesan as First Vice President - Risk, and Patrick McKinnon as First Vice President - Energy Markets and Digital Distribution. The adoption of insurance balance sheets acting as alternative options for energy commodity assurance is growing throughout the North American energy markets.
Nithya Venkatesan joins Navitas following her role as Senior Manager of Corporate Risk for a global energy company. She has more than 20 years of energy risk management experience spanning credit risk, market risk, regulatory reporting, and enterprise risk.
Venkatesan has experience with multiple commodities including natural gas, power, crude oil, refined products, natural gas liquids, emissions credits, and derivatives products. She has also held prior roles as Director of Finance; Director, Enterprise Risk; and Manager, Credit Risk within the energy sector. In addition, Venkatesan is an active board member and participant in the International Energy Credit Association and the Committee of Chief Risk Officers.
“We are extremely grateful to have Nithya join the Navitas team,” says Jay Rose, Managing Director at Navitas Assurance Partners. “Nithya will bring unique expertise of credit, risk, and compliance to enable Navitas to best evaluate transactions and counterparty risk to serve our market’s needs while supporting our strategic carrier partners at all times.”
Venkatesan may be reached via This email address is being protected from spambots. You need JavaScript enabled to view it..
Patrick McKinnon has more than 30 years of energy market experience spanning the energy lifecycle, which he will leverage his new leadership role with Navitas.
McKinnon joins Navitas from after founding and operating an energy consulting firm engaged in commodity infrastructure development and the growth of alternative assurance markets. Previously, McKinnon was Senior Director with one of the world’s largest credit insurance providers where he was instrumental in developing alternative assurance markets through product development and distribution across the energy sector. McKinnon also has experience as an Associate Director with a global financial derivatives exchange and as President of a consortium of independent drillers and operators.
“There are few in the industry that incorporate Pat’s combined expertise across all facets of both the energy and credit spectrum,” says Rose. “His vision is to create a seamless, digital world of physical credit clearing and alternative assurance to propel liquidity and trade across the North American energy market.”
McKinnon may be reached via This email address is being protected from spambots. You need JavaScript enabled to view it..
About Navitas Assurance Partners
Navitas Assurance Partners is a managing general underwriter (MGU) representing some of the strongest balance sheets in North America. Created for an evolving market and tapping into more than 100 years of operational development and risk management experience from the energy and insurance industries, Navitas is built for today’s changing marketplace. Navitas acts as the leading conduit among the energy markets, their broker-partners, and carrier-partners—specializing in the energy assurance markets and offering a new approach that brings additional capacity, unrivaled speed, and exceptional broker support. To learn more, visit www.navitasassurance.com or contact us via This email address is being protected from spambots. You need JavaScript enabled to view it..
Patrick McKinnon
Navitas Assurance Partners
(832) 606-9319
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PARIS--(BUSINESS WIRE)--After less than three years in business and close to 100 GEH2® (110kVA) and onboard REXH2®(70kW) electro-hydrogen power generators sold across the world, French manufacturer EODev announces the commercialization of new products from 10kVA to 1,750kVA. The first models will enter production in 2024 and will be available for order from mid-2023.
EODev's assembly line near Paris already delivers one 110kVA GEH2® per day. The objective being to avoid the emission of 30 million tons of CO2 over the next 10 years, EODev now initiates the second phase of its product development by expanding its range to offer new high power "plug & play" solutions for existing customers, such as equipment rental leaders Loxam and United Rentals, and for new markets with high power back up or fast EV charging in mind.
The acceleration of our deployment continues. We have proven the validity of our products throughout the world and built a leading know-how in the design and management of fuel cell systems over the last years. Whatever the applications, the replacement of diesel gensets by zero emission solutions is possible and this new range will allow us to respond to many requests, » explains Stéphane Jardin, EODev's chief commercial officer.
Powerful electro-hydrogen gensets adapted to each market
On land: The new high power GEH2® modules come in three complementary models: a 350kVA 20' container version and two 1,050kVA 40' container versions – an air cooled system of 1050kVA and a water cooled one of 1750kVA – especially developed for highly sensitive applications such as industrial and airport facilities, hospitals, water treatment plants, data centers, or for peaking power plants; but also for events and construction sites — where demand is already strong for the new 350kVA GEH2®. This range is completed by a 20' container 280kW version specifically designed for EV charging, and a modular 10kVA "Mini" GEH2® to meet the needs of the telecoms industry and residential market.
At Sea: The 2nd generation of the REXH2®, in the process of Type Approval Certification, paves the way for the development of three more powerful modules ranging from 280kW (10' container) to 1,400kW (40' container) with a 560kW 20' container version in between. Designed to operate in parallel, these new REXH2® will be able to meet the needs of large vessels, in particular cargo ships such as the upcoming Energy Observer2.
For more information, visit www.eo.dev and follow us on social networks LinkedIn, Twitter and Instagram.
Press contact: Charlotte Gabet, +33 (0)1 76 21 67 54, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Instrumentation Tubing Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the instrumentation tubing market and it is poised to grow by $502.74 mn during 2022-2026, accelerating at a CAGR of 4.87% during the forecast period.
The report on the instrumentation tubing market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the rising adoption of instrumentation and control solutions, gradual recovery of upstream oil and gas activities, and presence of stringent government regulations related to safety.
The instrumentation tubing market analysis includes the end-user segment and geographic landscape. This study identifies the preference for metals in additive manufacturing as one of the prime reasons driving the instrumentation tubing market growth during the next few years. Also, changing regulations and advances in tube-manufacturing techniques will lead to sizable demand in the market.
Companies Mentioned
The report on instrumentation tubing market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4. Five Forces Analysis
5. Market Segmentation by End-user
6. Customer landscape
6.1 Customer landscape overview
7 Geographic Landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Rising adoption of instrumentation and control solutions
8.1.2 Gradual recovery of upstream oil and gas activities
8.1.3 Presence of stringent government regulations related to safety
8.2 Market challenges
8.2.1 High need for maintenance
8.2.2 Slowdown in manufacturing output
8.2.3 Fluctuations in metal prices
8.3 Impact of drivers and challenges
8.4 Market trends
8.4.1 Preference for metals in additive manufacturing
8.4.2 Changing regulations
8.4.3 Advances in tube-manufacturing techniques
9. Vendor Landscape
10. Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/r/mras1v
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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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
DUBLIN--(BUSINESS WIRE)--The "Argentina Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Law 27.191
3 Term Market from Renewable Energy Sources (MATER)
4 Renewable Energy Auctions
5 RenovAr Program
For more information about this report visit https://www.researchandmarkets.com/r/qi5z4q
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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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
HOUSTON--(BUSINESS WIRE)--SLB (NYSE: SLB) today announced the early results of the previously announced offer by Schlumberger Holdings Corporation, an indirect wholly-owned subsidiary of SLB (“SHC”), to purchase for cash up to an aggregate purchase price amount, including premium but excluding any Accrued Interest (as defined below), of $500,000,000 (such amount, as it may be amended, the “Maximum Purchase Price”) of the notes listed in the table below (the “Notes”). The offer to purchase the Notes is referred to herein as the “Offer.” Additionally, SLB announced the increase of the Maximum Purchase Price from $500,000,000 to up to $800,000,000, and no Notes with Acceptance Priority Levels 3 and 4 will be accepted for purchase. All other terms of the previously announced Offer remain unchanged.
The Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated November 21, 2022 (as may be amended or supplemented from time to time, the “Offer to Purchase”). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase.
Title of Security |
CUSIP Numbers |
Acceptance
|
Principal Amount
|
Principal Amount
|
||
3.750% Senior Notes
|
806851AJ0 (144A) /
|
1 |
$750,000,000 |
$394,869,000 |
||
4.000% Senior Notes
|
806851AG6 (144A) / U8066LAE4 (Reg S) |
2 |
$932,597,000 |
$409,252,000 |
||
3.900% Senior Notes
|
806851AK7 (144A) / U8066LAH7 (Reg S) |
3 |
$1,500,000,000 |
$682,441,000 |
||
4.300% Senior Notes
|
806851AH4 (144A) /
|
4 |
$850,000,000 |
$201,039,000 |
||
| _________________________ | ||||||
(1) |
SHC will accept Notes in accordance with their Acceptance Priority Level specified in the table above (each, an “Acceptance Priority Level,” with 1 being the highest Acceptance Priority Level and 4 being the lowest Acceptance Priority Level), subject to the terms and conditions described elsewhere in the Offer to Purchase, including the Maximum Purchase Price and proration. No Notes with Acceptance Priority Levels 3 and 4 will be accepted for purchase. | |||||
All documentation relating to the Offer, including the Offer to Purchase, together with any updates, are available from the Tender and Information Agent (as defined below) and are also available at the following website: http://www.dfking.com/slb.
SLB expects to announce the pricing of the Offer, including any proration with respect to the Notes accepted for purchase, later today, December 6, 2022.
Subject to satisfaction or waiver of the General Conditions by such date, all Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time and accepted for purchase will be purchased by the Company on the “Early Settlement Date,” which is expected to occur on December 8, 2022. All Holders of Notes that are purchased will receive, in addition to the applicable Total Consideration, a cash amount equal to the accrued and unpaid interest on the Notes, from, and including, the immediately preceding interest payment date up to, but excluding, the Early Settlement Date, rounded to the nearest cent per $1,000 principal amount of Notes.
The Offer is scheduled to expire at 11:59 p.m., New York City time, on December 19, 2022 (unless the Offer is extended or terminated) (such date and time, the “Expiration Time”). Withdrawal rights expired at 5:00 p.m., New York City time, on December 5, 2022. Notes that have been tendered may no longer be withdrawn. Since the amount of Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time exceeded the Maximum Principal Amount, no additional Notes will be accepted for purchase after the Early Tender Time.
Subject to applicable law and limitations described in the Offer to Purchase, SHC expressly reserves the right, in its sole discretion, to amend, extend or, upon failure of any condition described in the Offer to Purchase to be satisfied or waived, to terminate the Offer at any time at or prior to the Expiration Time.
SHC has retained Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC to act as the Dealer Managers in connection with the Offer (collectively, the “Dealer Managers”). Questions regarding terms and conditions of the Offer should be directed to Deutsche Bank Securities Inc. by calling toll free at (866) 627-0391 or collect at (212) 250-2955, or to J.P. Morgan Securities LLC by calling toll free at (866) 834-4666 or collect at (212) 834-3424.
D.F. King & Co., Inc. has been appointed as tender and information agent (the “Tender and Information Agent”) in connection with the Offer. Questions or requests for assistance in connection with the Offer or for additional copies of the Offer to Purchase, may be directed to D.F. King & Co., Inc. by calling toll free (800) 290-6424 or collect at (212) 269-5550 or via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offer. The Offer to Purchase can be accessed at the following website: http://www.dfking.com/slb.
Neither this press release nor the Offer to Purchase, or the electronic transmission thereof, constitutes an offer to sell or buy Notes, as applicable, in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities laws or otherwise. The distribution of this press release in certain jurisdictions may be restricted by law. In those jurisdictions where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer and the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offer shall be deemed to be made by the Dealer Managers or such affiliate (as the case may be) on behalf of SHC in such jurisdiction.
About SLB
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “plan,” “potential,” “expectations,” “estimate,” “intend,” “anticipate,” “target,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements regarding the expected timing for completion of the Offer, and the consideration of the Tender Offer. SLB and SHC cannot give any assurance that such statements will prove correct. These statements are subject to, among other things, the risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should SLB’s underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in the forward-looking statements. The forward-looking statements speak only as of November 21, 2022, and SLB and SHC disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Media
Moira Duff – Director of External Communication, SLB
Tel: +1 (713) 375-3407
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, SLB
Joy V. Domingo – Director of Investor Relations, SLB
Tel: +1 (713) 375-3535
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
MONTREAL--(BUSINESS WIRE)--$LMR.V #graphite--Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) announces the increase in the size of its previously announced $1 million non brokered- private placement (the “Private Placement”) to a total 40,520,497 units (the “Units”) at a price of $0.03 per Unit for aggregate gross proceeds of $1,215,615 (see news release dated October 25, 2022 for more details regarding the initial announcement). Each Unit consists of one common share of the Company and one warrant. Each warrant shall entitle the holder to acquire one (1) additional common share of the Company at a price of $0.05 for a period of 60 months.
Closing of the Private Placement is expected to occur on or about December 9, 2022. The increase remains subject to the approval of the TSX Venture Exchange
As announced previously, the net proceeds of the units will be used to incur expenses on its exploration graphite and lithium properties. Below is a summary of the major categories applied to the net proceeds as required by TSXV policy, in addition to working capital requirements:
15% - Technical report update to provide resource update.
30% - Metallurgical testing and value-added work activities including micronations, spheroidization, purification and coating as well as battery testing.
Not more than 10% - Investor Relations and strategic advisory work.
The balance will be applied to working capital, finder fees payable under the Private Placement and other project expenses.
Closing is subject to several prescribed conditions, including, without limitations, approval of the TSX Venture Exchange. All securities issued pursuant to this private placement will be subject to a hold period of four months and one day from the closing date. The Private Placement remains subject to TSX Venture Exchange approval.
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. Lomiko is ECOLOGO certified.
The Company holds exclusive mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 76 minerals claims totaling 4,528 hectares (45.3 km2). Lomiko Metals published a Preliminary Economic Assessment (“PEA”) on September 10, 2021 which indicated the project had a 15-year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
Mr. Mike Petrina, Project Manager, a Qualified Person (“QP”) under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact Belinda Labatte at 647-402-8379 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" (“FLI”). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", “proposes”, "potential", "target", "implement", “scheduled”, "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the closing of the Private Placement (if at all); the demand for Units (if any); the use of proceeds of the Private Placement; the approval of the TSX Venture Exchange relating to the Private Placement; the Company’s objective to become a responsible supplier of critical minerals, exploration of the Company’s projects, including expected costs of exploration and timing to achieve certain milestones, including satisfactory completion of due diligence and ability to reach an agreement with third party owners in connection with projected acquisitions, timing for completion of exploration programs; the Company’s ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. FLI reflects the Company’s current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: receipt of all required regulatory approvals and successful closing of the Private Placement; current market for critical minerals; current technological trends; the business relationship between the Company, local communities and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company’s competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the “Forward-Looking Statements” section contained in the Company’s most recent management’s discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
For more information:
Kimberly Darlington
Investor Relations, Lomiko Metals Inc.
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514-771-3398
ALBANY, N.Y.--(BUSINESS WIRE)--Equinor and bp, will kick-off a three-part Industry Supplier roadshow with an inaugural event in the Capitol Region at Hudson Valley Community College (HVCC), in Troy New York, on December 13, beginning with registration at 8:00 AM. The roadshow is designed to help local and regional manufacturers participate in New York’s new offshore wind industry and provide them with the opportunity to directly connect them with Equinor and its key suppliers.
Through the Industry Supplier Expos, Equinor is facilitating the growth and sustainability of a New York-focused supply chain to supply and service the offshore wind industry for decades to come. The series offers a springboard for New York businesses to find out more about working in the offshore wind industry and prepare for future industry opportunities. The second and third supplier events will occur in New York City and Long Island, respectively.
“The Supply Chain Expo is a great opportunity for New York businesses to learn how to get involved in this exciting industry. Offshore wind is still new to the United States, and Equinor is committed to helping create a new, bourgeoning supply chain. The Supplier Expos are designed to help us connect with a variety of manufacturers, especially those in adjacent sectors like aerospace, maritime, and heavy industries that are well-positioned to join the offshore wind ecosystem,” said Molly Morris, President of Equinor Wind US.
Through the supplier expos, Equinor also seeks to foster involvement in the supply chain from Minority- and women-owned businesses and service-disabled veteran-owned businesses. Key suppliers will include Nexans, Vestas, Great Lakes Dredge and Dock, Marmen and Welcon, Edison Chouest, and more.
Companies are encouraged to register for the first Supplier Expo at HVCC in Troy on December 13 here. Pre-registered attendees may attend short, one to one ‘matchmaker’ sessions to introduce and share their capabilities with project representatives.
Future supplier expos will take place in New York City at the CUNY Graduate Center on February 7th and on Long Island at Farmingdale State College on March 10th.
Equinor Renewables US
Equinor is one of the largest offshore wind developers in the world. Its work in the United States includes the development of two lease areas off of in New York, Empire Wind and Beacon Wind. The projects plan to provide New York State with 3.3 gigawatts (GWs) of energy—enough to power nearly two million homes—including more than 2 GWs from Empire Wind and 1,230 megawatts from Beacon Wind 1. www.equinor.com/NY
bp in the US
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $130 billion in the economy and supporting about 245,000 jobs. For more information on bp in the US, visit www.bp.com/us.
About Empire Wind
Empire Wind is being developed by Equinor and bp through their 50-50 strategic partnership in the US. Empire Wind will power more than 1 million homes and generate 2.1 GW of power. For more information, please visit www.empirewind.com.
About Beacon Wind
Beacon Wind is planned for an area of 128,000 acres in federal waters between Cape Cod and Long Island. The lease area was acquired in 2019 and is being developed in two phases. Beacon Wind 1 is on track to deliver 1.2 GW of renewable energy directly to New York City in the late 2020s – enough to power 1 million homes. Beacon Wind 2 has the capacity to generate another 1.2 GW of clean energy for consumers in the US Northeast. www.beaconwind.com
Lauren Shane, Senior Communications Manager, Equinor Renewables US
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+1-917-392-4252
Brian Young, Senior Consultant Communications, Equinor US
+1-917-915-6461
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SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2022.
“Revenues for the third quarter were $37.9 million, an increase of $2.7 million versus the same quarter last year. The resulting income from operations of $2.9 million was also an increase from the $1.5 million earned in the same quarter of 2021, despite a $0.9 million non-cash pre-tax charge in the current quarter resulting from a pension plan termination," noted President and CEO David Mansfield.
“While maintaining overhead cost management, pre-tax earnings for the year to date increased versus last year with revenues remaining stable throughout the year. We continue to see strong oil and gas demand in Canada and our other North American operations also improved substantially due to increased activity in the district heating and cooling market. Despite revenues at similar levels, the returns from our operations in Egypt have improved as we venture into new products and services.
"Backlog has grown $7.7 million largely because of contracts in Saudi Arabia, where activity levels there and elsewhere in the Middle East have increased.
“Year to date versus prior year both revenue and income from operations increased despite recognizing a non-cash pre-tax charge of $0.9 million for the termination of a pension plan, and after the cessation of government subsidies for COVID-19 received in the prior year. Excluding these non-recurring items year over year, pre-tax earnings increased by 45%,” concluded Mr. Mansfield.
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in six countries.
Forward-Looking Statements
Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the impact of global economic weakness and volatility; (iv) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (v) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (vi) the Company’s ability to repay its debt and renew expiring international credit facilities; (vii) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (viii) the Company's ability to collect a long-term account receivable related to a project in the Middle East; (ix) the Company’s ability to interpret changes in tax regulations and legislation; (x) the Company's ability to use its net operating loss carryforwards; (xi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s over-time revenue recognition; (xii) the Company’s failure to establish and maintain effective internal control over financial reporting; (xiii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xiv) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xv) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xvi) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xvii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xviii) reductions or cancellations of orders included in the Company’s backlog; (xix) risks and uncertainties specific to the Company's international business operations; (xx) the Company’s ability to attract and retain senior management and key personnel; (xxi) the Company’s ability to achieve the expected benefits of its growth initiatives; and (xxii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)
Additional information regarding the Company's financial results for the three and nine months ended October 31, 2022, including management's discussion and analysis of the Company's financial condition and results of operations, is contained in the Company's Quarterly Report on Form 10-Q for the quarterly period ended October 31, 2022, which will be filed with the Securities and Exchange Commission on or about the date hereof and will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website.
PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES |
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
||||||||||||||||
(In thousands, except per share data) |
||||||||||||||||
|
||||||||||||||||
|
|
Three Months Ended October 31, |
|
Nine Months Ended October 31, |
||||||||||||
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
||||||||
Net sales |
|
$ |
37,903 |
|
$ |
35,199 |
|
$ |
106,128 |
|
$ |
99,426 |
||||
Gross profit |
|
11,130 |
|
7,629 |
|
28,065 |
|
22,877 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses |
|
6,594 |
|
5,938 |
|
20,043 |
|
18,040 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations |
|
4,536 |
|
1,691 |
|
8,022 |
|
4,837 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
717 |
|
270 |
|
1,585 |
|
717 |
||||||||
Other (expense)/income |
|
(948 |
) |
|
98 |
|
(963 |
) |
|
997 |
||||||
Income before income taxes |
|
2,871 |
|
1,519 |
|
5,474 |
|
5,117 |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
1,143 |
|
1,024 |
|
2,763 |
|
2,049 |
||||||||
Net income |
|
$ |
1,728 |
|
$ |
495 |
|
$ |
2,711 |
|
$ |
3,068 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.22 |
|
$ |
0.06 |
|
$ |
0.33 |
|
$ |
0.38 |
||||
Diluted |
|
$ |
0.21 |
|
$ |
0.06 |
|
$ |
0.33 |
|
$ |
0.36 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Earnings per share calculations could be impacted by rounding. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES |
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
(In thousands) |
||||||||
|
||||||||
|
|
October 31, 2022 |
|
|
January 31, 2022 |
|
||
|
|
(Unaudited) |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
Current assets |
|
$ |
89,392 |
|
$ |
78,389 |
||
Long-term assets |
|
36,417 |
|
45,012 |
||||
Total assets |
|
$ |
125,809 |
|
$ |
123,401 |
||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities |
|
$ |
47,456 |
|
$ |
38,397 |
||
Long-term liabilities |
|
23,562 |
|
30,547 |
||||
Total liabilities |
|
71,018 |
|
68,944 |
||||
Stockholders' equity |
|
54,791 |
|
54,457 |
||||
Total liabilities and stockholders' equity |
|
$ |
125,809 |
|
$ |
123,401 |
||
Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
(847) 929-1200
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