“White Dragon” is poised to be an important step in the green energy transition to hydrogen technology
BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an innovation-driven company in the fuel cell and hydrogen technology space, today announced the achievement of an important milestone in the development of hydrogen technologies. Specifically, on Wednesday, May 5, the national proposal for hydrogen technologies "White Dragon" was submitted by a group of the largest energy companies in Greece. The proposal sets forth a future vision for the entire hydrogen value chain and a path to expand its role in the Greek energy system’s reduced carbon goals.
DEPA Commercial will serve as the project coordinator of “White Dragon” and, in collaboration with Advent Technologies, Damco Energy S.A. (Copelouzos Group Company), PPC Greece, The Hellenic Gas Transmission System Operator (“DESFA”) S.A., Hellenic Petroleum, Motor Oil, Corinth Pipeworks, TAP and Terna Energy (together the “consortium”), on May 5, 2021, submitted the consortium’s proposal, a more than 8 billion euro plan for the development of an innovative, integrated green hydrogen project in Greece, to the Greek government and the European Union. The proposal already has the support of the Region of Western Macedonia and the Cluster of Bioeconomy and Environment of Western Macedonia.
The objective of the project is to gradually replace the lignite power plants of Western Macedonia and transition to clean energy production and transmission, with the ultimate goal of fully decarbonizing Greece's energy system. The "White Dragon" project plans to use large-scale renewable electricity to produce green hydrogen by electrolysis in Western Macedonia. This hydrogen would then be stored and, through Advent’s high-temperature fuel cells, supply all of Greece with clean electricity, green energy and heat. Advent’s fuel cells provide a combination of both heat and electrical power, and the heat generated by the project can initially be used in conjunction with the district heating networks of Western Macedonia, and in the future in other applications that require a heating and/or cooling system, such as industrial workings, data centers and greenhouses.
Another primary goal of the "White Dragon" project is the development by the consortium of an integrated Hydrogen Industrial Research Center within the Hydrogen High Technology, Research, Development & Innovation Center that is anticipated to be created in Western Macedonia.
Upgrading the existing energy infrastructure, electricity networks and gas pipelines is particularly important to the continued success of the green energy efforts already underway across the EU. Gas pipelines can be used both for transporting green hydrogen to end users and to indirectly store the hydrogen for future use, with a regulatory framework for Energy Net Metering serving as a transition option until the full infrastructure required by the hydrogen economy is built out. To accelerate this development, under "White Dragon," the study and construction of a dedicated hydrogen pipeline in Greece would commence, as would plans to implement the first widescale hydrogen fueled projects for the entire transportation sector, which includes heavy duty trucks, trains and cars. A corresponding infrastructure for hydrogen refueling stations (HRS) and the transportation and distribution of hydrogen over the area’s roads and highways are planned to facilitate the project’s end goals. The dedicated hydrogen pipeline would link green hydrogen production with large hydrogen end users, such as refineries and the fertilizer industries, and will drive their efforts to make their production processes greener. Finally, through the integrated "White Dragon" project, the international transportation and export of hydrogen through the TAP Interstate Pipeline from Greece to Italy is expected to be explored as a future potential goal.
The combined budget for the project, if approved in its entirety by the European and Greek authorities, is €8.063 billion.
* Renewable hydrogen will be channeled almost entirely into pipelines.
Dr. Vasilis Gregoriou, Advent Chairman and CEO, stated that “The approval of the ‘White Dragon’ project would be an important step for the creation and development of clean energy hydrogen technologies in Greece. We are excited to participate as the fuel cell partner in the submission of such a large-scale project. This is a long-term venture that, although still in the submission phase and awaiting multiple levels of approval, presents exciting possibilities for the future. Its successful implementation could be the key that unlocks the transition to greener power creation and transmission across Greece and potentially, the EU.”
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents (issued and pending) for its fuel cell technology, Advent holds the IP for next-gen high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible ‘Any Fuel. Anywhere’ option for the automotive, maritime, aviation and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including the Company’s plans and expectations with respect to Project White Dragon. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 26, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
Joe Germani / James Goldfarb
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SEATTLE--(BUSINESS WIRE)--Zap Energy, a pioneer in fusion energy technology, today announced that it has raised $27.5 million in Series B funding. The round was led by Addition, with participation from Energy Impact Partners, GA Capital and Fourth Realm, as well as existing investors Chevron Technology Ventures and LowerCarbon Capital. The new financing comes just nine months after closing a $6.5 million Series A funding round, following the achievement of a major scientific milestone in late 2020 that brings Zap Energy closer to energy breakeven.
Zap Energy is building the most compact, low-cost and scalable fusion reactor that does not employ magnets. Zap Energy achieved thermonuclear fusion in 2018 and is targeting scientific energy breakeven by 2023. Success would mean the production of inexpensive and unlimited carbon-free energy.
“Our vision is to power the planet,” said Benj Conway, President and Co-Founder of Zap Energy. “We are thrilled to partner with Addition and our new investors who share our conviction that Zap Energy’s technology can become one of the key enablers for a sustainable global energy future.”
“As the transition towards sustainable energy accelerates, Zap Energy has the potential to change the way global energy is produced,” said Lee Fixel, Founder of Addition. “The Zap Energy team has developed transformational technology that will reduce the cost of and shorten the path to commercial fusion energy, and we look forward to supporting their continued innovation and growth.”
Zap Energy will use this latest funding round to advance key technologies relating to their fusion reactor.
About Zap Energy
Zap Energy was co-founded in 2017 and is managed by President, Benj Conway, Chief Technology Officer, Brian Nelson and Chief Science Officer, Uri Shumlak. Zap Energy’s sheared-flow stabilized (SFS) Z-pinch reactor requires no magnetic fields or auxiliary heating. Its compact, simple modular reactor is tolerant to high-energy neutrons. The technology builds on work first pioneered by the FuZE team at University of Washington together with Lawrence Livermore National Laboratory. Zap Energy is based in Seattle, WA.
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Will Gillespie
Finsbury Glover Hering
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The funding round will accelerate Moxion’s effort to decarbonize job sites across the country in partnership with some of the nation’s largest construction firms.
RICHMOND, Calif.--(BUSINESS WIRE)--Moxion Power, a Y Combinator backed, vertically integrated manufacturer of mobile energy storage systems, announced today it has raised a $10 million Series A financing led by Energy Impact Partners (EIP). The round was completed with the support of several of Moxion’s existing investors, including Tamarack Global and Liquid 2 Ventures.
Moxion is replacing inefficient, heavily-polluting, fossil-fuel-burning generators with its proprietary mobile energy storage technology and all-electric equipment rental solutions, helping customers reduce the costs of temporary power and decarbonize their operations. Moxion’s initial products are designed and engineered to meet the demands of the construction industry, which relies on renting generators and other equipment that traditionally runs on diesel fuel.
Generators are loud, expensive to operate and maintain, and most importantly, come at significant costs to society and the environment. The average diesel generator used in the construction industry emits almost 70% more carbon dioxide per kWh than a coal-fired power plant. The emissions and noise from these machines pollute job sites, neighborhoods, and communities across the US, causing serious health issues for millions of people — including construction workers who are in close proximity to this equipment on a daily basis.
Moxion Power is pioneering temporary power-as-a-service through its electrified equipment rental platform. The company’s vertically integrated business model is powered by AI and software, not clipboards and telephones, allowing the company to manage large fleets of electric equipment and deliver an unmatched rental service and customer experience to companies in industries such as construction, electrified transportation, events and entertainment, film production, and telecommunications.
"Electrifying industries such as construction, which rely heavily on generators for temporary power, presents an enormous, unaddressed market opportunity," said Paul Huelskamp, co-founder and CEO of Moxion Power. "Demand for Moxion Power’s technology and services grow almost exponentially as more and more vehicles and equipment transition away from internal combustion engines to electric power."
"We’re embarking on an era of unprecedented electrification globally, which is going to dramatically increase the need for clean, portable, and on-demand power. Moxion’s combination of proprietary storage systems and software-powered services is a unique approach to tackling the multi-billion-dollar temporary power and equipment rental industries, which have seen very little innovation over the past several decades," said Sameer Reddy, Partner at EIP.
This new funding follows a Seed round that was led by Tamarack Global late last year. Moxion will use the proceeds to scale its manufacturing operations, launch its first rental location in the San Francisco Bay Area in partnership with some of the nation’s largest construction firms, and execute on its significant backlog of customer orders.
"Moxion Power is reimagining equipment and technology that haven’t changed materially since the invention of the combustion engine. The Moxion team is bringing first-class products to market with strong secular tailwinds behind them. We are thrilled to be on board,” said Jamie Lee, Managing Partner of Tamarack Global.
Construction firms are making a big push to clean up their industry, which accounts for 10% of carbon emissions globally.1 In the United States in 2018, 6.3 billion gallons of diesel fuel were used by the construction industry, resulting in almost 70 million metric tons of CO22 - equal to the emissions produced by 25 million passenger vehicles. Moxion believes the benefits of electrification and the construction industry’s desire to decarbonize will ultimately drive the adoption of its technology and services, but the company plans to work closely with construction equipment manufacturers in order to accelerate this adoption.
“Manufacturing battery systems at near-automotive scale allows us to sell our core battery technology to construction OEMs at a competitive price per kWh,” said Alex Meek, President and co-founder of Moxion Power. “And by building the first and largest all-electric equipment rental company, we’re creating a viable go-to-market strategy and scalable sales channel for our OEM partners.”
Moxion Power believes that the rapidly declining costs of battery technology combined with the federal government’s support for clean technologies and domestic manufacturing, as laid out in the $2 trillion American Jobs Plan, creates a perfect storm for its products and business model. In fact, rebuilding the nation’s highways, bridges, and transit systems should make several federal and state government agencies some of Moxion’s largest end customers.
“Rebuilding and modernizing our nation’s infrastructure will result in significant private and public-sector demand for Moxion’s technology and services and create entirely new addressable markets for our products, such as EV fleet charging within the transportation and e-commerce industries. We look forward to playing an integral role as the Biden Administration executes on its vision for strengthening our infrastructure and economy and creating the jobs of the future,” said Paul Huelskamp, CEO of Moxion.
In addition to this latest Series A financing, Moxion Power is excited to announce pilot rental programs with some of the largest general contractors in California, including Turner, Swinerton, Webcor, and DPR. These companies represent some of the most innovative and environmentally conscious firms in the construction industry, and Moxion is encouraged to see their commitment to the environment and the decarbonization of their operations.
About Moxion Power
Moxion Power manufactures mobile energy storage technology and operates an all-electric equipment rental business, providing clean, temporary-power-as-a-service to customers in industries such as construction, electrified transportation, events and entertainment, and telecommunications. Moxion’s technology and vertically integrated business model offer the first viable alternative to fossil fuel-burning generators. Moxion has signed letters-of-intent with some of the largest construction firms and EV fleet operators in the US and plans to open its first rental location in the San Francisco Bay Area in Q3 2022. Moxion’s founders have backgrounds in battery engineering, vehicle electrification, renewable energy project finance, and construction. Visit moxionpower.com for more information and follow us on LinkedIn for future updates. HQ: Richmond, CA.
Related Links
120 Global Status Report for Buildings and Construction
2A - Fast Facts: US Transportation Sector Greenhouse Gas Emissions, 1990-2018
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The company also announced it has completed the hiring of a full development team.
AUSTIN, Texas--(BUSINESS WIRE)--#solarenergy--Solar Proponent LLC, a utility-scale solar developer based in Austin and focused on the ERCOT market in Texas, today announced veteran solar executive Alan Stringer has joined the company as Chief Operating Officer. Solar Proponent is backed by a capital commitment from EnCap Investments. L.P. (“EnCap”), the leading provider of equity capital to the independent sector of the U.S. energy industry. Yorktown Partners, an energy-focused private equity firm, Mercuria Energy and SolarPro management also have invested in the company.
“Alan has developed and led construction of more than eight gigawatts of solar generation, and he is uniquely qualified to lead Solar Proponent’s engineering, procurement and construction (“EPC”) operations. We are thrilled to have Alan join our executive team,” said Solar Proponent Chief Executive Officer Cassandra Rinaldo.
Before he joined Solar Proponent, Mr. Stringer served as vice president of EPC at First Solar (NASDAQ: FSLR), where he was responsible for construction of approximately $7 billion in solar projects. He most recently served as chief technical officer at Ceiba Energy Management.
“I’ve known and respected Alan for many years. He transformed EPC operations at First Solar through implementation of risk-based design, sourcing and construction processes, using new technology to reduce costs while improving quality, productivity and safety,” said EnCap Energy Transition Managing Partner Jim Hughes, the former CEO of First Solar and a board adviser to Solar Proponent. “Alan will be instrumental in advancing the company’s portfolio through construction as Solar Proponent contributes to ERCOT’s evolution to a reliable and diverse grid that is less dependent on carbon-intensive sources of power.”
The company also announced it has completed the hiring of its development team led by Chief Development Officer Jeffrey Sabins. “The composition of the Solar Proponent development team reflects our commitment to diversity and includes individuals from leading renewable energy companies with deep experience in ERCOT solar development,” Mr. Sabins said.
“Solar Proponent has a highly capable team with the full spectrum of solar development and construction expertise enabling it to create a premier portfolio of solar projects in 2021 and beyond,” said EnCap Energy Transition Managing Partner Tim Rebhorn, who serves as the chairman of Solar Proponent’s board.
About Solar Proponent (“SolarPro”)
SolarPro’s mission is to leverage the enormous potential of solar power to create sustainable electricity infrastructure. With decades of combined experience in the energy sector, the Solar Proponent team is focused on building value for investors, communities, and landowners through responsibly developed solar generation projects. For more information, visit www.solarproponent.com.
Casey Nikoloric, TEN|10 Group
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Nearly one third of LMI customers struggled to pay an electric bill but they aren’t asking utilities for help
BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced results from its market research study showing that customers, especially those with low-to-moderate (LMI) income would benefit from personalized outreach from their utilities in order to take advantage of programs offered.
Uplight’s energy customer research found that in the last year, 32% of lower-income customers reported struggling to pay an electric bill, three times the rate of higher-income customers. On the other hand, LMI customers report they aren’t asking for the help they need with only 17% of LMI customers reaching out to their utility about a high bill or to ask for assistance in paying. Although most utilities offer a wide variety of programs that can help customers reduce or pay their bills, customers continue to lack awareness of the programs available to them, and need more engagement from utilities to help them find and understand the ones that would benefit them most.
Other Research Highlights:
LMI customers have less trust and awareness of utility programs – LMI customers show a consistent lack of awareness of utility programs overall, creating a significant opportunity for utilities to improve customer education and engagement in all communication touch points including call centers, email, mail, online portals and bill inserts.
Customers are caught off-guard by their energy bills – In this past year marked by the pandemic, customers have more on their minds and aren’t actively monitoring their energy usage, leading frequently to bill shock. Avoiding surprises for customers means helping push information to the customer including tools such as high bill alerts and mid-month bill projections to make it easier for customers to monitor their electricity use. Subscription billing can also help ensure bill consistency from month to month. According to the Uplight customer research:
Utilities have significant opportunities to better educate and engage customers – Interest in utility offers is high, and for many customers who are aware of available programs, many haven't successfully acted yet. There is an opportunity for utilities to ramp up personalized promotions and insights, nudge customers based on their profile and projected savings, and provide a seamless process to enroll in a program or make a purchase so that customers who want to engage can do so easily.
Customers are consulting their utility more frequently for information for advanced technology purchases – Customers see their utilities as trusted energy advisors for bigger ticket items that could have a larger impact on their electricity usage.
“In the past, customers have had a transactional relationship with their utilities focused on just paying their bill so they aren’t always aware of the robust program offerings utilities have to serve their needs such as rebates, marketplaces, bill alerts and demand management,” said Jay Grinde, Chief Customer Officer at Uplight. “Today's forward thinking utilities are focused on helping customers save more of their hard earned money, and reduce energy use as we collectively aim to hit ambitious decarbonization goals. The success of these programs requires a more personalized approach that helps build awareness and encourages customers to take critical steps to use less energy.”
Uplight partnered with See Change Institute to conduct its second annual nationally representative survey of 1,000 utility customers from the United States. Utilities interested in learning more about survey findings can sign up for a webinar on May 23rd at 1 pm ET.
Resources:
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
Elaine Reddy
720-252-8105
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CALGARY, Alberta--(BUSINESS WIRE)--#alberta--Inclusive Energy Ltd. (“Inclusive”), a leader in the oil and gas services sector, is pleased to announce a strategic partnership with ROK Resources Inc. (“ROK”), whereby Inclusive has invested in ROK as part of a recent private placement financing. ROK is a junior oil and gas producer focused on developing its light oil properties in the Glen Ewen area of southeast Saskatchewan. The investment in ROK is an integral part of Inclusive Energy’s recent initiative to diversify its investments into well-managed upstream energy companies, focused on return on capital and value creation. The funding by Inclusive will complement its existing oilfield equipment business and the partnership will offer unique synergies and efficiencies for ROK to accelerate growth. Inclusive Energy is pleased to be working with ROK Resources, and Inclusive will provide both equipment and capital for ROK’s operations and we look forward to advancing further opportunities through our creative partnership. The collaboration of both companies is expected to bring long-term growth and value to their stakeholders and further build their business relationship.
In addition, Inclusive Energy is pleased to announce that it has entered into a funding arrangement with Jayhawk Resources Ltd. (“Jayhawk”), whereby Inclusive will provide financing and a credit facility to Jayhawk to be utilized for strategic and complementary acquisitions in Jayhawk’s core operating areas. Jayhawk Resources is a junior oil and natural gas producer, primarily operating natural gas properties in Alberta and focused on operating efficiencies, production optimization and development opportunities.
As part of its recently announced initiative to diversify and expand its investments in the North American energy and natural resource industries, Inclusive Energy is actively seeking investment opportunities in energy companies, projects and assets which offer a strong financial return and sustainable growth potential. Inclusive Energy offers a broad range of flexible, creative, and accretive financing alternatives to assist companies or projects with capital requirements.
Bilal Hydrie, President and CEO of Inclusive Energy, expounds that, “The creation of these strategic partnerships adds to the strength of Inclusive’s position in the oil and gas services sector and is in line with its diversification in the North American energy and natural resource industries, including the upstream, midstream, infrastructure, oilfield services and renewables sectors.” Furthermore, he adds, “We are proud to promote foreign investment to boost the Canadian economy and we will continue to synergize with our global partners with operations in nine other countries, including the United Kingdom, Switzerland, UAE, Pakistan and China.”
Inclusive Energy’s capital investment fund complements its existing oilfield service business, where the company has established itself as an industry leader, focused on delivering the highest standard of customer service, quality, and value to its clients. Inclusive offers flexible payment options to industry on an extensive inventory of production and process equipment.
Bilal Hydrie, President and CEO
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Inclusivenergy.com
Virgin Group company to complete one of the country’s largest utility-scale solar facilities
NEW YORK--(BUSINESS WIRE)--BMR Energy, a developer, owner, and operator of clean energy projects in the Caribbean and Latin America, announced today it has started construction on its newest solar photovoltaic project, the Valle Escondido solar facility located in the municipality of Bagaces, province of Guanacaste, Costa Rica. The Virgin Group company will own and operate the long-planned project to provide up to 5 MW to the Costa Rican Electricity Institute (ICE) under a 20-year Power Purchase Agreement.
BMR assumed control of the Valle Escondido project in late April of 2021. Within days of acquiring the development project, BMR had initiated site activities. The new solar farm will be one of the largest solar generators in Costa Rica and the largest serving ICE. Costa Rica’s energy supply is nearly 98% renewable. Until now, however, solar energy provided only a small portion of that energy.
“We are very excited to be operating in Costa Rica, a country that utilizes its vast natural resources to demonstrate the capabilities of a fully renewable energy supply. We are also very proud to work alongside a highly reputable utility like ICE in making this project a reality. We believe that our experience constructing and operating renewable energy projects in the region is key to the growth of Costa Rica’s and ICE’s supply of clean energy” said Bruce Levy, CEO of BMR Energy. “By adding our project to ICE’s diverse renewable energy portfolio and bringing solar energy to the people of Costa Rica, we’re continuing our legacy of building resilient, renewable energy infrastructure in the Caribbean and Latin America.”
BMR was able to employ a team of local Costa Rican citizens to complete the transaction and start construction work on the project, minimizing the need for travel and avoiding potential COVID-19 related complications. The local team includes engineers, project managers, construction contractors and attorneys, all well versed in solar technologies and project execution. The Valle Escondido solar plant is scheduled to come online in the second half of 2021.
About BMR Energy
BMR Energy, a Virgin Group investment, is a developer, owner, and operator of clean energy projects in the Caribbean and Latin America. BMR Energy’s solution-minded team brings its industry expertise to efficiently executing projects that deliver affordable, sustainable energy generation. For more information, visit www.bmrenergy.com.
About Virgin Group
Virgin is a leading international investment group and one of the world's most recognized and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors including mobile telephony, travel & transportation, financial services, leisure & entertainment, and health & wellness.
About ICE Group
The Costa Rican Electricity Institute commenced operations on April 8, 1949, with the goal of establishing renewable energy resources for the electrification of Costa Rica. Since its founding, ICE’s electricity service coverage in Costa Rica has increased from 14% to 99.4%. ICE’s electrical generation mix consists mainly of hydro, geothermal, wind, solar, and biomass energy. ICE also focuses on the development of smart grids and electric mobility in Costa Rica.
Antenna Group for BMR Energy
Regan Keller
(415) 977-1933
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New vent meets electric vehicle requirements for battery pack exhaust at lower pressures
MINNEAPOLIS--(BUSINESS WIRE)--Donaldson Company, Inc. (NYSE:DCI), a leading worldwide manufacturer of innovative filtration products and solutions, has expanded its dual-stage battery pack vent line with the addition of the Dual-Stage Flex battery vent. The new battery vent enables pressure relief of automotive battery packs at lower pressures, helping support the life and reliability of electric vehicle (EV) batteries.
Battery packs are the heaviest and most expensive EV component. As the industry evolves, so has the need to lower the weight of the battery pack, which can be reduced with thinner battery pack walls. However, these thinner walls can’t withstand higher pressures within the battery pack. The new Dual-Stage Flex battery vent was developed to address this low-pressure requirement.
Donaldson’s Dual-Stage Flex battery vent contains a one-way umbrella valve that allows for quick exhaust if pressures within the battery pack increase. The low opening pressure means the internal pressure can quickly release through a flexible valve, helping avoid potential further disruption to other battery pack cells.
The dual-stage vent offering from Donaldson now includes the Flex and Burst vent options – both provide sealing and guarding against contaminants; offer continuous pressure equalization to help protect the battery housing from excess over- or under-pressure; expel damp air for effective ventilation; and help with mitigation of gasses in the case of a thermal runaway event inside the battery.
“The Dual-Stage Flex battery vent is easy to integrate into most battery pack configurations, and is a great choice for electric vehicle manufacturers looking for a venting solution with low opening pressure,” said Shane Campbell, senior product development engineer with Donaldson Integrated Venting Solutions. “Both of our dual-stage vents feature Donaldson’s proprietary Tetratex™ ePTFE filtration membrane that is engineered for maximum airflow and offers advanced ingress protection.”
For more information on the Dual-Stage Flex battery vent or Donaldson’s full range of integrated venting solutions, visit www.donaldson.com/en-us/venting/technical-articles/protecting-battery-enclosures-dual-stage-venting/ or email This email address is being protected from spambots. You need JavaScript enabled to view it..
About Donaldson Company, Inc.
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OE brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.
Dave Viertel 952 887-3165
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‘Official Motor Oil of NASCAR’ Launches ‘Mobil 1 Thousand’ Sweepstakes With Special Paint Scheme on Kevin Harvick’s No. 4 Ford
SPRING, Texas--(BUSINESS WIRE)--The Mobil 1™ brand launched Mobil 1 Thousand, a weekly sweepstakes that gives race fans an extra reason to cheer for any driver running with Mobil 1 lubricant technology in the NASCAR Cup Series™. Each week of the 2021 season, fans who sign up at Mobil1Thousand.com have the chance to win $1,000 or more in cash, as well as other racing collectibles and experiences if a Mobil 1 driver takes the checkered flag.
With many NASCAR Cup Series teams choosing to tap the competitive advantage of the ‘Official Motor Oil of NASCAR,’ fans will be celebrating alongside the drivers of multiple teams throughout the 2021 season. The Cup Series teams Joe Gibbs Racing, 23XI Racing, Front Row Motorsports, Live Fast Motorsports, Gaunt Brothers Racing and decade-long partner Stewart-Haas Racing (SHR) all benefit from the protection of Mobil 1 lubricant technology.
“We have a long and decorated history with NASCAR® as the ‘Official Motor Oil’ of the league, and we are in a unique position to provide our team partners with a competitive advantage on the track each week,” said Bryce Huschka, North America Consumer Marketing Manager for ExxonMobil. “We help teams win, and now we want to help fans win, too. The Mobil 1 Thousand sweepstakes helps bring awareness to our many team partners who utilize Mobil 1 lubricant technology on the track, giving us all a chance to win alongside them. Better yet, we’ll be adding more prizes later this summer with once-in-a-lifetime experiences and opportunities to win even bigger in the playoffs.”
To commemorate the announcement, the Mobil 1 brand, alongside partners SHR and Kevin Harvick, unveiled a new paint scheme that will be featured on the No. 4 Ford Mustang at the Circuit of the Americas this Sunday, May 23.
The Mobil 1 brand has moved away from its traditional jet black design to a special golden paint scheme decked out with dollar bills. Beyond the obvious monetary associations, the gold color was also inspired by the bottle design of Mobil 1 Extended Performance motor oil. The bright red Pegasus, an iconic part of the Mobil 1 brand history, sits behind the rear tires under the URL Mobil1Thousand.com, where fans can sign up for the chance to win.
“I always enjoy when our sponsors run special paint schemes, especially when it is something that gives fans an opportunity to win,” said Harvick. “Speaking for myself and the No. 4 Stewart-Haas Racing team I know we want to be the Mobil 1-powered team that delivers on those wins.”
Beginning with the May 23 race, one lucky winner will receive the first prize pot if a Mobil 1 driver crosses the finish line first. To ensure fans aren’t shortchanged by the six (6) wins Mobil 1 drivers have already accumulated this year, the Mobil 1 brand has added an extra $6,000 bonus to the prize pot, meaning the first winning fan could walk away with a huge $7,000 prize.
If a driver using Mobil 1 lubricant technology doesn’t make it to Victory Lane on any given week, the $1,000 dollar prize will roll over to the following week, with the amount accumulating until a Mobil 1 driver crosses the finish line in first place again.
In addition to the cash prizes, SHR and the Mobil 1 brand will provide extra prizes throughout the season triggered by SHR wins, including meet-and-greets with SHR drivers, the chance to design a paint scheme, exclusive signed swag and much more.
For more information and updates on the Mobil 1 Thousand sweepstakes throughout the season, visit Mobil1Thousand.com.
About Mobil 1
Mobil 1™ motor oil is the world's leading brand of synthetic motor oil. Our advanced technology allows Mobil 1 motor oils to meet or exceed some of the industry’s toughest standards and to provide exceptional protection under even extreme driving conditions. Mobil 1 motor oil is designed to help protect critical engine parts, maximize engine performance, and extend engine life. For more information, visit us online at www.mobil1.us or and follow @Mobil1 on Facebook, Instagram and Twitter.
NASCAR® is a registered trademark of the National Association for Stock Car Auto Racing, LLC
Alex Snow, Weber Shandwick, 314-552-6730
MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) highlights its asset growth and renewable generation investments in its investor newsletter, Inside View, which also includes the following topics:
- Renewable, technology investments transforming your community energy company
- Planned retirement of the Columbia Energy Center
- Utility’s planned downtown charging hub for electric vehicles
- Company’s Report on Giving
The newsletter is available on MGE Energy's website at:
http://www.mgeenergy.com/insideview
Inside View is published periodically to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.3 billion, and its 2020 revenues were $539 million.
Investor relations contact
Ken Frassetto
Director - Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced two contract awards totaling approximately $38 million.
The Company’s Marine segment has been awarded a contract valued at $28.5 million to perform demolition and construction to establish a new aquatic habitat to benefit juvenile salmon in the Puget Sound area of Washington. Construction on the project will begin during the second quarter this year and is expected to be completed by the end of the second quarter of 2023.
In addition, the Company has also been contracted for the design and construction of a private marine facility in the Tampa, Florida area. Valued at approximately $9 million, this work will commence in the second quarter of this year and be completed by mid-2022.
“We are pleased to be a part of the Puget Sound project to benefit the local environment,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “Additionally, the private sector project in Florida represents the type of opportunities we expect to see more of as the economy emerges from the pandemic.”
About Orion Group Holdings
Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.
Forward-Looking Statements
The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or “anticipates,” or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.
Please refer to the Company’s Annual Report on Form 10-K, filed on February 28, 2020, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.
Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
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www.oriongroupholdingsinc.com
Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com
SAN JOSE, Calif.--(BUSINESS WIRE)--Lumileds, a global leader in innovative lighting solutions, has released its 2020 Sustainability Report that details the company’s progress in supporting the transition to a low-carbon and sustainable economy. In the report, Lumileds highlights how its lighting solutions contribute to positive changes in energy usage, safety, and health and well-being, supporting the company’s commitment to making the world safer, more sustainable, and beautiful with light. In 2020, the company averted 6.42 metric tons of use-phase CO2 through its LED products. Lumileds follows a formalized sustainability agenda that identifies specific priorities and tracks progress.
Lumileds has aligned its sustainability efforts with external frameworks such as the United Nations Sustainable Development Goals (SDGs) and identified four SDGs where the most significant contribution can be made: Good Health and Well-Being, Affordable and Clean Energy, Responsible Consumption and Production, and Climate Action. Lumileds’ Climate Action and environmental results in 2020 were significant with reductions of Greenhouse Gas Emissions, Energy Consumed, Waste Produced, and Water Used.
“Despite the challenges of a global pandemic and its impact on the end markets we serve, Lumileds remained committed and on track toward reaching our sustainability goals,” said Matt Roney, CEO. “Our scientists and engineers continued to increase product performance while achieving significant reductions in energy use, carbon emissions, waste generated, and water consumption.”
An intrinsic part of Lumileds’ mission is its commitment to a safe workplace with diversity and inclusion as core values. Employee Health and Safety remains the highest priority. In 2020 all Lumileds’ manufacturing sites were migrated and certified from OHSAS 18001 to ISO 45001 as the basis for its Occupational Health and Safety Management System.
Lumileds recently reviewed its environmental, social, and governance issues that have the greatest impact on its business and the highest importance to its stakeholders. From that effort, nine priority issues form the focus of Lumileds’ sustainability efforts. Those are:
Employee Health and Safety |
Product Energy Efficiency |
Circular Economy |
Business Ethics |
Responsible Supply Chain |
Hazardous Substances |
Employee Engagement and Workforce Diversity |
Improving Vehicle and Road Safety |
Climate Change and Carbon Footprint |
The priority issues have been used as the foundation for our 2025 commitments which include reducing our environmental footprint by more than 15% on energy, emissions, water and waste as well as achieving Supplier Sustainability Performance at 95%. Complete details on Lumileds’ sustainability efforts can be found our website at https://lumileds.com/sustainability.
About Lumileds
For automotive, mobile, IoT and illumination companies who require innovative lighting solutions, Lumileds is a global leader employing more than 7,000 team members operating in over 30 countries. Lumileds partners with its customers to push the boundaries of light.
To learn more about our portfolio of lighting solutions, visit https://lumileds.com.
Steve Landau
Director Marketing Communications
408-710-4090
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ecobee and Alarm.com’s partnership continues to demonstrate ecobee’s commitment to providing customers with more choice and control through an open ecosystem
TORONTO--(BUSINESS WIRE)--ecobee, the inventor of the smart Wi-Fi thermostat and a leader in smart home technology, today announced a partnership with Alarm.com, a leader in cloud-based security and monitoring with over 6 million customers. Alarm.com’s professional dealers and installers can now integrate ecobee thermostats into Alarm.com-based security and smart home solutions, allowing customers to seamlessly control their ecobee smart thermostats in apps powered by Alarm.com.
ecobee currently offers a number of ENERGY STAR-certified thermostats and a suite of home monitoring products, all designed with comfort, security, and conservation in mind. By partnering with Alarm.com, customers now have more choice with how they can control their smart thermostat from home or away.
“We’re excited to be able to deliver improved convenience and energy savings to customers in partnership with Alarm.com,” said Greg Fyke, ecobee Vice President of Product. “Our smart thermostats save up to 26% on heating and cooling costs making them not only a great choice for your wallet, but also a way to help create a more sustainable world.”
ecobee has a long-standing partnership with EnergyHub, an Alarm.com subsidiary, within the North American energy sector. Since 2015, the two companies have partnered on more than 40 programs that deliver grid management services to utilities and wholesale market operators. With this new Alarm.com partnership, ecobee and EnergyHub continue to deepen their commitment to energy efficiency, while also delivering comfort and security to more homeowners.
About ecobee
Founded in 2007, ecobee’s mission is to improve everyday life while creating a more sustainable world. After launching the world’s first smart thermostat, ecobee has helped customers across North America save more than 17.6 TWh of energy. Today, ecobee continues to innovate with smart home solutions that solve everyday problems for customers with comfort, security, and conservation in mind with products like the ecobee SmartThermostat with voice control, ecobee SmartCamera with voice control, ecobee SmartSensors for doors and windows and Haven smart monitoring solution. For more information, visit ecobee.com.
Fatima Reyes, Senior Communications Manager, ecobee
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CHICAGO--(BUSINESS WIRE)--ADM (NYSE: ADM) and the University of Illinois announced today the successful completion of the Illinois Basin - Decatur Project (IBDP), a carbon capture and storage (CCS) project designed to evaluate and test the technology at commercial scale. This is one of two CCS projects located adjacent to ADM’s corn processing plant in Decatur, Illinois.
The first-of-its-kind project was primarily funded through the Midwest Geological Sequestration Consortium (MGSC) by the U.S. Department of Energy – National Energy Technology Laboratory with the goal to confirm the ability of the Mt. Simon Sandstone to accept and store one million metric tons of carbon dioxide over a period of three years, the equivalent of annual emissions from about 1.2 million passenger cars according to EPA calculations. Working together through the MGSC, the Illinois State Geological Survey at the University of Illinois designed, implemented, and monitored the project and ADM was the host and operator.
“ADM is committed to leveraging innovation and technology to advance sustainability across every aspect of our business. Deploying carbon capture and storage technology in our processing operations is one of the many ways we are reducing our environmental footprint,” said Alison Taylor, Chief Sustainability Officer, ADM.
As part of its Strive 35 sustainability goals, ADM aims to reduce absolute greenhouse gas emissions by 25% against a 2019 baseline.
“Today’s announcement marks an important milestone, not only for the Illinois Basin - Decatur Project but also for the advancement of CCS to combat the climate crisis,” said Dr. Jennifer Wilcox, Acting Assistant Secretary for Fossil Energy and Carbon Management at the U.S. Department of Energy. “We congratulate ADM and the University of Illinois, and we’re proud to be a part of this achievement.”
The project utilized 20,000 feet of wells to successfully inject carbon dioxide from ADM’s processing plant more than 6,500 feet underground. More than 2,000 visitors from 30 countries have come to the site throughout the project to learn more about the process and technology.
“The Illinois Basin - Decatur project has successfully achieved its desired outcome to demonstrate that carbon capture and storage can be undertaken safely and effectively. This milestone represents a launching point for the future of this technology, including commercial scale deployments around the world,” said Sallie Greenberg, Principal Scientist Energy & Minerals, Illinois State Geological Survey.
“Addressing climate change in a meaningful way requires carbon emission reductions across the board,” U.S. Senator Dick Durbin (D-IL) said. “The Illinois Basin - Decatur Project shows how carbon capture and storage can play an important role in reducing these emissions. I congratulate ADM and the University of Illinois on reaching this milestone, and will continue advocating for federal investments in a clean energy economy.”
“Agribusiness leaders and producers have a vital role to play in reducing our carbon footprint, and game-changing innovation to do just that is occurring right here in central Illinois,” said Congressman Rodney Davis (IL-13). “ADM and the U of I’s partnership to capture and store carbon underground will serve as a global model on how to reduce emissions. I’d like to thank ADM and the U of I for proactively taking on this project.”
ADM also began injection operations at a second CCS project, the Illinois Industrial Sources Carbon Capture and Storage Project, in Decatur in April 2017. The project is currently permitted to operate through 2022 and has the potential to store up to 5.5 million metric tons of carbon dioxide.
Collectively, these two projects have successfully stored more than 3.4 million metric tons to date.
About Illinois State Geological Survey
The Illinois State Geological Survey (ISGS) is part of the Prairie Research Institute at the University of Illinois at Urbana-Champaign. The ISGS is a premier state Geological Survey serving the needs of Illinois with earth science information relevant to the State's environmental quality, economic vitality, and public safety.
About ADM
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
Source: Corporate Release
ADM Media Relations
Jackie Anderson
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312-634-8484
CAMBRIDGE, Mass.--(BUSINESS WIRE)--#enegystoragesystems--Malta Inc. is teaming up with Duke Energy to study the socioeconomic, environmental and operational benefits of converting retiring coal units into long-duration, zero-emissions energy storage systems by integrating Malta’s 100-megawatt, 10-hour pumped heat energy storage system into existing infrastructure at a Duke Energy coal plant in North Carolina.
A U.S. Department of Energy grant is funding the year-long study of the emerging technology.
Malta is developing a pumped heat energy storage system that leverages well-understood subsystems, components and thermodynamics in a novel energy storage application. By leveraging existing subsystems from well-established industries, the system relies on decades of performance data to ensure safe, resilient operations.
The system stores electricity either directly from a power plant or from the grid by converting electricity into thermal energy (heat and cold). Heat is stored in molten salt, a decades-old and proven method of storing thermal energy. Cold is stored in an antifreeze-like solution with components and subsystems widely used in the liquefied natural gas industry.
The system operates like a conventional power plant. When electricity is needed, the thermal energy powers a heat engine to produce clean, reliable energy.
“Malta is excited to work with Duke Energy to identify cost-effective, common-sense paths forward for fossil assets that consider all stakeholders,” said Ramya Swaminathan, Malta’s CEO. “For utilities like Duke Energy to meet their net-zero carbon emissions goals, major advancements in technology are needed. The Malta system could be part of the solution by providing zero-emissions, load-following technology that provides reliable, resilient and around-the-clock power.”
Though the study will focus on the energy industry’s current need for 10-12 hours of energy storage, the Malta system can be configured to store up to 200 hours of energy storage.
“Duke Energy is investing in innovation as part of our clean energy transformation plan to achieve net-zero carbon emissions by 2050,” said Regis Repko, senior vice president of Duke Energy’s Generation and Transmission Strategy organization. “For years, Duke Energy has actively evaluated emerging technologies, and the Malta study marks the first time we will evaluate long-duration thermal energy storage. We expect the results to influence the future of energy and apply to our larger generation fleet.”
The study’s deliverables include an engineering conceptual study, a technology maturation plan and a socioeconomic report on potential benefits, including:
The Department of Energy announced the grant in March, and the team is identifying which of Duke Energy’s six coal plants in North Carolina is best suited to serve as the test site.
Malta Inc.
Malta is a developer of grid-scale long-duration thermal energy storage solutions. Incubated at X, the Moonshot Factory (formerly Google [X]), Malta is based in Cambridge, Mass. For more information, visit www.maltainc.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 7.9 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 51,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,500 people.
Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with goals of at least a 50% carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to operate or purchase 16,000 megawatts of renewable energy capacity by 2025. The company also is investing in major electric grid upgrades and expanded battery storage, and exploring zero-emitting power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2021 “World’s Most Admired Companies” list and Forbes’ “America’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Malta Inc.
Matt Burke
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Duke Energy
Heather Danenhower
24-Hour Media Line: 800.559.3853
Cell: 352.497.4534
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DUBLIN--(BUSINESS WIRE)--The "Construction in Nigeria - Key Trends and Opportunities to 2025 (Q2 2021)" report has been added to ResearchAndMarkets.com's offering.
Nigeria's construction industry declined by 7.7% in real terms in 2020, hit by the disruption caused by the COVID-19 pandemic. The industry plummeted by 31.8% year on year (YoY) in Q2 2020, but it improved in the second half of the year - according to the National Bureau of Statistics (NBS), the Nigerian construction industry grew by 1.2% YoY in Q4, and 2.8% in Q3.
In 2021, the industry is expected to improve, assuming a slowdown in COVID-19 cases and recovery in the global economy. The publisher expects the construction industry to grow by 3.9% this year. This growth will be driven by a sharp recovery in output levels compared to periods when works were not permitted or were severely restricted in 2020, with Q2 2021 in particular recording high growth YoY, assuming there is no repeat of the strict lockdown similar to last year.
The industry is expected to post an annual average growth rate of 3.2% in real terms between 2022-2025, supported by the government's plan to invest in the country's infrastructure and energy sector. The 2021 Appropriation Bill, presented by President Buhari to the National Assembly, is designed to continue achieving the goals of the Economic Sustainability Plan, which provides a road map for post-COVID-19 economic recovery to transition from the Economic Recovery and Growth Plan (2017-2020) to the successor Medium-Term National Development Plan (2021-2025).
The industry's output is also expected to be supported by the government's plans to improve energy and transport infrastructure. Moreover, the Petroleum Industry Bill (PIB) will be discussed in the Nigerian Senate, which has faced legislative delays since 2007, and is expected to bring in new investments in energy infrastructure.
The PIB aims to increase government revenue from oil and establish a strong legal and regulatory framework for the Nigerian oil industry. The plunge in global oil prices due to the COVID-19 pandemic, which triggered a 60% collapse in Nigerian government revenues in 2020, may lead to a pressing need to reform the sector. Without the reforms under the PIB, the country remains, to some extent, an uncertain investment.
This report provides detailed market analysis, information, and insights into Nigeria's construction industry, including:
Scope
Key Topics Covered:
1. Executive Summary
2. Construction Industry: At-a-Glance
3. Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
4. Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5. Key Industry Participants
5.1 Contractors
5.2 Consultants
6. Construction Market Data
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/pw5g23
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Fightertown, here we come! The nation’s 4th-largest hotel owner-operator acquires the Hilton Garden Inn Beaufort in the heart of the South Carolina coast.
NEW YORK--(BUSINESS WIRE)--The latest member of the squadron! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 115-room Hilton Garden Inn Beaufort in South Carolina’s beautiful Lowcountry region.
The hotel is just a 40-minute drive to Hilton Head Island and less than an hour from the Spanish moss splendor of Savannah, Georgia. But the real action is minutes away at the U.S. Marine Corps Air Station, one of the only places in the world where pilots train to operate F-35B Lightning II jets, which can reach speeds of Mach 1.6 (that’s about 1,200 miles per hour in civilian language). Grab your aviators and practice your call signs because Tom Cruise has nothing on the daring flyers of Fightertown East.
On neighboring Parris Island, you’ll find the Marine Corps Recruit Depot, the primary training center for generations of Marines since 1915. The base welcomes more than 17,000 recruits annually. In town to celebrate a new graduate? Bunk at the Hilton Garden Inn Beaufort and say “Semper Fi” with a hand-crafted cocktail at the fully stocked bar.
The Hilton Garden Inn Beaufort welcomes military and civilians alike — as long as they can drop and give us 50 at our 24-hour fitness center. (Kidding! At ease, at ease.) Take leave in the sun-soaked pool and lounge around in the outdoor areas. Pile your plate with grub at the on-site Garden Grille, serving cooked-to-order hot breakfasts every morning and, at night, pasta, steak, ribs and other hearty fare. Prefer to dine in? Order room service or prep a meal in the comfort of your guestroom (all are equipped with a mini-fridge, microwave and coffee maker).
Still more R&R awaits a quick walk from the hotel in Beaufort’s historic district. Founded in 1711, the city boasts majestic live oaks and stunning old homes that go back centuries. (Beaufort is routinely named one of the most picturesque and charming areas in the South!) Those looking for maritime pursuits will want to book in time for the city’s 65th annual Beaufort Water Festival, planned for July 16–25. Expect raft races, fishing tournaments, sailing regattas and shrimp — lots and lots of delicious shrimp served with corn, sausage and potatoes in a traditional dish known as Beaufort Stew.
The Hilton Garden Inn Beaufort is located at 1500 Queen Street and features:
Reserve rooms by phone at (843) 379-9800 or online at hilton.com.
About MCR
MCR is the 4th-largest hotel owner-operator in the United States with a $4.0 billion portfolio of 110 premium-branded hotels containing more than 15,000 guestrooms across 33 states and 75 cities. Founded in 2006, the firm has offices in New York City, Dallas, Chicago and Richmond, Virginia. MCR has 3,600 team members across the country and operates hotels under 12 Marriott and Hilton brands. MCR is a recipient of the Marriott Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners, as well as the Hilton Legacy Award for Top Performer. For the TWA Hotel at New York’s JFK Airport, MCR won the Development of the Year (Full Service) Award at The Americas Lodging Investment Summit (ALIS), the Urban Land Institute New York Excellence in Hotel Development Award and the American Institute of Architects national Architecture Award, the highest honor given by the AIA. MCR was also named one of Fast Company’s 10 Most Innovative Travel Companies of 2020. For more information, please visit. For more information, please visit mcrhotels.com.
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(212) 277-5602
Industry to convene in May 2022 to address accelerating a sustainable future for the world’s power and water supply
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--The Abu Dhabi National Energy Company PJSC (“TAQA”), one of the EMEA region’s largest listed integrated utility companies, announced today that it will be the official host of the World Utilities Congress, a new global exhibition and conference addressing the future of low carbon power and water supplies.
Organised by dmg events, the Congress will be an in-person event taking place in Abu Dhabi in May 2022. It will be supported by the UAE’s Ministry of Energy & Infrastructure, Abu Dhabi Department of Energy (DoE), Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), Emirates Nuclear Energy Corporation (ENEC) and Abu Dhabi National Exhibitions Company (ADNEC).
The World Utilities Congress is an opportunity for the global power and water industry to converge and discuss trends and technologies impacting future power and water demand. The focus will be on the proactive measures for decarbonisation, curbing carbon emissions and attracting the long-term capital investment needed for a sustainable future.
Utilities are already at the heart of delivering global reductions in greenhouse gas emissions, whilst keeping the world supplied with vital energy and water. The challenge to decarbonise is immense and requires sector leaders to share knowledge and most importantly – work together. Coming six months after COP26, the World Utilities Congress will provide a platform to help the industry reflect on the next phase.
In the UAE, the ‘National Integrated Energy Model’ was recently launched to support the UAE Energy Strategy to increase the contribution of clean energy into the country’s total energy mix to 50 per cent by 2050. There is also a major shift underway towards energy efficient water production, by way of reverse osmosis desalination.
Event host TAQA is at the centre of the UAE’s efforts having recently announced its 2030 strategy for sustainable and profitable growth. The company is setting out to become a champion of low carbon power and water for Abu Dhabi and will leverage the UAE’s strong global relationships to further the growth of its power and water portfolio at home and internationally.
Jasim Husain Thabet, Group CEO and MD of TAQA, commented: “We are excited to host the World Utilities Congress in Abu Dhabi and hope it will enable us to meet with our peers from around the world to learn from each other and to work together for a sustainable future. Developing low carbon power and water is not just a matter of doing good, but it is also good business. As we at TAQA embark on our own journey, we value our partners and are proud to be part of a sector that is fundamental to delivering a better tomorrow. This new global conference and exhibition will provide a great opportunity for the sector to showcase ideas, solutions and best practice in front of an audience that matters.”
The World Utilities Congress will give power and water utility leaders an unrivalled opportunity to explore innovation and technological advances across the global industry, whilst addressing challenges of rapid urbanisation, decarbonisation, decentralised energy, customer empowerment, sector convergence and more.
To be held at the Abu Dhabi National Exhibition Centre (ADNEC) as both an exhibition and conference, the World Utilities Congress will grant the utilities industry direct access to growth opportunities in the UAE and wider MENA region, as well as with the fast-growing economies of Asia.
Further information available at www.worldutilitiescongress.com
*Source: AETOSWire
Zoe Cusi, +971559416684
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Nutanix Cloud Deployment Delivers Agility, Scalability, and Simplified Operations
SAN JOSE, Calif.--(BUSINESS WIRE)--Nutanix (NASDAQ: NTNX), a leader in private, hybrid and multicloud computing, announced today that Serbian energy giant NIS (Naftna Industrija Srbije) has chosen Nutanix to meet the IT demands of the fast-paced, often volatile, energy markets. Additionally, they have implemented Nutanix to simplify IT management and provide a more scalable and agile platform for future developments.
Like many energy companies across the globe, NIS is involved in a diverse range of activities, from oil and gas exploration, refining and distribution to, more recently, the development of electrical and thermal energy from a mix of traditional and renewable sources. However, progressing and managing those businesses in an era of rapid change was putting increasing strains on its legacy infrastructure. These strains limited the company’s ability to cope with day-to-day demand and prevented it from moving the business forward to stay ahead of the competition.
“Rather than an asset, our legacy IT infrastructure was becoming a liability, restricting our ability to keep pace with market pressures and take advantage of new opportunities,” said Dimitry Shevchenko, CIO of NIS. “Like others in our sector, we needed to modernize and do so quickly, moving to a more agile software-defined architecture. For us, that meant hyperconverged infrastructure and, with Nutanix as the clear market leader, it was our obvious first choice.”
Since moving to Nutanix, NIS has seen an approximately 50% performance improvement across its application base and, with Nutanix in its datacenters, they no longer suffer from the constraints imposed by end-of-life servers and network storage. Additionally, the team is able to manage everything from the same Nutanix Prism interface to keep on top of demand, deliver more agile solutions, and trial the latest Nutanix features in support of innovative new projects going forward.
NIS also selected Nutanix Calm to add application-centric automation tools as well as native application orchestration and lifecycle management to the Nutanix cloud platform. This enables NIS to build self-service portals and automate key business processes, significantly simplifying day-to-day operations for the IT team.
“Simple management is fundamental in everything that Nutanix has to offer,” said Andrew Brinded, VP & GM of EMEA, Nutanix. “From being able to manage physical and virtual IT assets together from the same Prism console integrated into the Nutanix cloud platform to tools, like Nutanix Calm, that allow customers to automate business processes and build more intuitive hands-off IT solutions. These solutions can free up staff to work on projects of real value to the business rather than simply fire fighting to keep the datacenter lights on.”
Despite the Covid-19 pandemic, the new infrastructure at NIS was installed and commissioned in record time with help from both Nutanix and local partner S&T Serbia. In addition to migrating workloads to the Nutanix AHV hypervisor, NIS plans to host new SAP HANA development and adopt the latest cloud native container technologies, which will be made easier using Nutanix Karbon, an enterprise Kubernetes management solution designed to dramatically simplify container provisioning, operation, and lifecycle management.
For more information about the NIS deployment, read the full case study here.
About Nutanix
Nutanix is a global leader in cloud software and a pioneer in hyperconverged infrastructure solutions, making computing invisible anywhere. Companies around the world use Nutanix software to leverage a single platform to manage any app at any location at any scale for their private, hybrid and multi-cloud environments. Learn more at www.nutanix.com or follow us on Twitter @nutanix.
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Nutanix
Giulia Borracci
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MADISON, Wis.--(BUSINESS WIRE)--The board of directors of MGE Energy, Inc. (Nasdaq: MGEE) today declared the regular quarterly dividend of $0.37 per share on the outstanding shares of the company's common stock, payable June 15, 2021, to shareholders of record at the close of business June 1, 2021.
MGE Energy has increased its dividend annually for the past 45 years and has paid cash dividends for more than 110 years.
About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties.
Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.
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