DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Processing Seals Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The oil and gas processing seals market by revenue is expected to grow at a CAGR of over 2% during the period 2020-2025.
Several seal manufacturers are significantly focusing on innovations in terms of design and efficiency. Increasing investments and the recent discovery of oil fields in emerging countries such as India, Australia, and Brazil are expected to increase sealing solutions during the forecast period. With the increasing awareness of sustainability across the globe, oil and gas seal manufacturing companies adopt innovative manufacturing practices and technologies.
The adoption of smart precision manufacturing and the availability of raw materials for seal manufacturing is expected to propel the production. The COVID-19 outbreak has hit several industries; however, the oil and gas industry has been the worst affected. The spread of the coronavirus has compelled several companies to slow down their production, and, in many cases, production sites have been closed.
Hence, the demand for oil and gas processing sealing solutions has proportionally declined due to production slowdown. The global oil and gas processing seals industry focuses on improving efficiency and productivity, especially in the Middle East and Africa, and North America.
Global Oil and Gas Processing Seals Market Segmentation
In terms of material type, elastomer seals hold the largest share in the global oil and gas processing seals market and are expected to continue their growth. In terms of geography, APAC holds the highest share in the elastomeric market due to the growing demand from oil and gas and other related industries. Owing to the cost-effective nature of the material, high elasticity, and high resistance to chemicals, elastomeric demand is expected to increase during the forecast period, albeit moderately. However, low tolerance to high pressure and temperature than thermoplastics is likely to hinder the elastomeric segment's growth opportunity.
O-ring seals have the most application in the oil and gas industry, and they dominate the market. It is expected that these types will continue to dominate the market. Backup rings, S-seals, and T-seals are other types of seals applied in the industry. O-ring accounted for the largest share in the global industry, followed by u-cup and back-up ring seals. The Middle East and Africa region generated the highest demand for O-ring due to a well-established oil and gas industry.
However, APAC is expected to witness the highest growth among all other regions, growing at a promising CAGR for O-rings, u-cup, and back-up rings. In APAC, China and India are expected to witness the highest growth in demand and revenue. This is mainly attributed to increasing investments in the industry and recent discoveries of several oil and gas fields. It is expected that the demand for back-up rings will gain momentum during the forecast period.
The major reason for the growth can be attributed to the high demand for O-ring seals. It has been estimated that revenue generated from back-up rings will further increase during the forecast period. Therefore, increasing the industry's investments leads to high demand for oil and gas processing seals to prevent leakage and natural hazards, thereby boosting the demand globally.
The downstream industry accounts for the highest share of the global oil and gas industry. In terms of geography, the Middle East and Africa region accounted for the largest share in the global oil and gas processing seals market in 2019. However, North America and APAC are expected to grow steadily during the forecast period. The demand for diesel in India is expected to double by 2030 nearly. Moreover, favorable government regulations, such as 100% FDI in India's private refinery projects sector, are a major factor driving the growth of the APAC downstream industry.
INSIGHTS BY GEOGRAPHY
The Middle East and Africa region hold the highest revenue share in the global oil and gas processing seals market. The region has several highest oil and natural gas producing countries in the world. Saudi Arabia, Iran, Iraq, the UAE, and Nigeria are the major countries contributing to the high share of the region's market. The industry in the Middle East and Africa has been severely affected due to the eruption of the COVID-19 pandemic.
High disruptions in the supply chain in the Middle East and Africa and a sharp decline in oil and gas consumption have adversely affected the market. Moreover, the production is expected to decrease in the region as several countries focus on domestic production, which, in turn, results in a decrease in the demand for oil and gas processing seals.
Also, several renewable energy sources are challenging the traditional oil and gas production in the region. It is expected that the non-fossil fuels energy demand in the Middle East and Africa will increase from 1% in 2017 to over 13% by 2040. Several factors, such as the availability of high-volume proven reserves, well-established infrastructure, and the shift toward renewable sources of energy, are expected to hinder the growth of the oil and gas industry in the Middle East and Africa. Hence the growth is likely to be moderate.
INSIGHTS BY VENDORS
The global oil and gas processing seals market is moderately fragmented due to several highly established vendors across regions. Vendors in the market adopt several strategies to tackle intense competition among players offering their products with high efficiency across all downstream, upstream, and midstream oil and gas application industries.
Mergers and acquisitions in the market are observed at frequent intervals to gain scale and scope opportunities. Many companies are also focused on launching innovative products to strengthen their market position that significantly induces the competitive landscape.
Prominent Vendors
Other Prominent Vendors
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LONDON--(BUSINESS WIRE)--#GlobalPressureTransmittersMarket--The new pressure transmitters market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the growing popularity of pressure transmitters due to pressure equipment accidents,” says a senior analyst for industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the pressure transmitters market size to grow by USD 374.98 million during the period 2020-2024.
Pressure Transmitters Market Segment Highlights for 2020
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Global High-pressure Valves Market- The high-pressure valves market is segmented by product (quarter-turn valves, multi-turn valves, and control valves), end-user (oil and gas industry, mining industry, chemical industry, water and wastewater industry, and others), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global High-Integrity Pressure Protection System- The high-integrity pressure protection system is segmented by end-user (oil and gas, chemicals and petrochemicals, pharmaceuticals, and others) and geography (Europe, APAC, North America, MEA, and South America). Click Here to Get an Exclusive Free Sample Report
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DUBLIN--(BUSINESS WIRE)--The "Global Naval Combat Systems Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the naval combat systems market and it is poised to grow by $7.56 billion during 2020-2024 progressing at a CAGR of 3% during the forecast period.
The report on naval combat systems 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 greater focus on ISR operations, increasing demand for unmanned underwater vehicle and aggressive expansion of China's naval fleets in critical regions.
The naval combat systems market analysis includes product segment, platform segment and geographical landscapes. This study identifies the open architecture combat management systems as one of the prime reasons driving the naval combat systems market growth during the next few years. Also, integration of naval combat system into unmanned aerial vehicles and adoption of innovative approach to naval procurement will lead to sizable demand in the market.
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The report on naval combat systems 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 an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Product
6. Market segmentation by Platform
7. Customer Landscape
8. Geographic Landscape
9. Vendor Landscape
10. Vendor Analysis
11. Appendix
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LONDON--(BUSINESS WIRE)--#GlobalMarineOutboardEnginesMarket--The marine outboard engines market is expected to grow by 87.78 K units, progressing at a CAGR of almost 2% during the forecast period.
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The rising sales of boats is one of the major factors propelling market growth. However, factors such as economic factors affecting sales of boats will hamper the market growth.
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Marine Outboard Engines Market: Geographic Landscape
By geography, Europe is going to have a lucrative growth during the forecast period. About 32% of the market’s overall growth is expected to originate from Europe. France and Italy are the key markets for Marine Outboard Engines in Europe.
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Truck-Mounted Aerial Work Platform (AWP) Market by End-user and Geography - Forecast and Analysis 2020-2024: The truck-mounted aerial work platform (AWP) market size has the potential to grow by USD 273.80 million during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 3.38%.
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Mining Truck Market by Product and Geography - Forecast and Analysis 2020-2024: The mining truck market size has the potential to grow by USD 861.57 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Engine power
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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IRVINE, Calif.--(BUSINESS WIRE)--Enevate, a pioneer in advanced silicon-dominant lithium-ion (Li-ion) battery technology featuring extreme fast charging and high energy density for electric vehicles (EVs), was selected from among thousands of companies around the world for Cleantech Group’s 2021 Global Cleantech 100 list. This is the second year in a row that Enevate has been named to the prestigious list.
Enevate develops innovative battery technologies to accelerate adoption of electrified mobility and has a vision to enable a cleaner and more sustainable environment. Enevate enables battery-powered applications and products that are accessible and affordable to everyone. Its 4th generation XFC-Energy™ Technology for EVs, announced earlier this year, will help lower CO2 emissions.
The 2021 Global Cleantech 100 is the 12th edition of the respected annual guide to the leading companies and themes in sustainable innovation. It features the private independent and for-profit companies best positioned to contribute to a more digitized, de-carbonized and resource efficient industrial future.
“We are honored to be named for a second year in this important bellwether listing as our mission is also to make a better world through development of clean technology,” said Enevate CEO Robert A. Rango. “Enevate’s innovative and industry-ready battery solutions to charge an EV as fast as refueling a gas car will accelerate EV adoption and be a critical piece of the puzzle in creating a truly sustainable world.”
The list combines Cleantech Group’s research data with qualitative judgments from nominations and insight from a global, 91-member expert panel of leading investors and executives from corporations and industrials active in technology and innovation scouting. From pioneers and veterans to new entrants, the panel broadly represents the global cleantech community and results in a list with a powerful base of respect and support from many important players within the cleantech innovation ecosystem.
This year’s list includes innovators from 15 countries, with just over half located in the U.S. and the rest hailing from Asia, Australia, Europe and the Middle East. The sectors covered include: Agriculture & Food, Enabling Technologies, Energy & Power, Materials & Chemicals, Transportation & Logistics and Resources & Environment.
“We are delighted to welcome 50 companies for their first time on this year’s new Global Cleantech 100. This replacement rate speaks to the healthy maturing of this innovation ecosystem and to some specific impacts of Covid-19,” said Richard Youngman, CEO, Cleantech Group. “On the one hand, the 2021 list reflects the long-running mega-trends like decarbonization, digitization, electrification, and the ever-increasing volumes of deployed renewable energy. On the other, Covid-19’s impact is evident – for example, in the uptick in automation and robotics-enabled solutions, in logistics and supply chain solutions, and solutions in the food chain to prevent, reduce and repurpose food waste. Resilience is a new critical factor at play.”
For detailed information on Enevate’s outlook as an innovator, visit Cleantech Group’s market intelligence platform i3 and search for Enevate.
Download the report and meet the companies solving our biggest challenges.
To meet many of the innovators and investors on the 2021 Global Cleantech 100 list, join Cleantech at its virtual events: Cleantech Forum Europe, January 12-14, and Cleantech Forum San Francisco, January 19-21.
The Global Cleantech 100 program continues to be sponsored by Chubb, the world's largest publicly traded property and casualty insurance company.
About Enevate (www.enevate.com)
Enevate develops and licenses advanced silicon-dominant Li-ion battery technology for electric vehicles (EVs), with a vision of EVs charging as fast as refueling gas cars, accessible and affordable to everyone, and accelerating EVs’ mass adoption. With a portfolio of more than 350 patents issued and in process, Enevate’s pioneering advancements in silicon-dominant anodes and cells have resulted in battery technology that features five-minute extreme fast charging with high energy density, low temperature operation for cold climates, low cost and safety advantages over conventional batteries.
Enevate’s vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. The Irvine, California-based company has raised over $110 million from investors including Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, Lenovo, CEC Capital and Bangchak. Enevate®, the Enevate logo, XFC-Energy™, HD-Energy®, and eBoost® are registered trademarks of Enevate Corporation.
About Cleantech Group
At Cleantech Group, we provide research, consulting and events to catalyze opportunities for sustainable growth powered by innovation. We bring clients access to the trends, companies and people shaping the future and the customized advice and support businesses need to engage external innovation.
Industries are undergoing definitive transitions toward a more digitized, de-carbonized and resource-efficient industrial future. At every stage from initial strategy to final deals, our services bring corporate change makers, investors, governments and stakeholders from across the ecosystem, the support they need to thrive in this fast-arriving and uncertain future.
The company was established in 2002 and is headquartered in San Francisco with people based in London, Paris and Boston.
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Enevate Corporation
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LONDON--(BUSINESS WIRE)--#GlobalOffshorePatrolVesselMarket--The offshore patrol vessel market is expected to grow by USD 4.91 billion, progressing at a CAGR of 4% during the forecast period.
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The increasing need to control drug trafficking is one of the major factors propelling market growth. However, factors such as the high cost of setting up a shipyard will hamper the market growth.
More details: https://www.technavio.com/report/offshore-patrol-vessel-market-industry-analysis
Offshore Patrol Vessel Market: Product Landscape
Based on the product landscape, the basic OPVs segment is expected to post significant growth during the forecast period.
Offshore Patrol Vessel Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 42% of the market’s overall growth is expected to originate from APAC. China, Japan, and India are the key markets for Offshore Patrol Vessel in APAC.
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Conveyor Systems Market in Europe by End-user, Type, and Geography - Forecast and Analysis 2020-2024: The conveyor systems market size in Europe has the potential to grow by USD 450.85 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Online On-demand Laundry Service Market by End-user, Service, and Geography - Forecast and Analysis 2020-2024: The online on-demand laundry service market size will record an incremental growth of USD 58.02 bn and a CAGR of 33% during 2020-2024.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Leading Owner and Operator of U.S. Power Plants Creates Council to Drive the Company’s Commitment to Diversity, Equality, Respect and Inclusion within the Organization
ALISO VIEJO, Calif.--(BUSINESS WIRE)--As part of its new diversity and inclusivity initiative, IHI Power Services Corp. (IPSC), a leading owner and operator of power plants across the U.S., recently created a council to further drive its commitment to infuse diversity and inclusivity in everything the company does – top to bottom. Using industry best practices, IPSC’s Diversity, Respect and Inclusion (DR&I) Council will focus on ensuring equal access to opportunities for professional growth and advancement by continuing to foster a sustainable culture that not only recognizes skill sets, but also values unique qualities and cultural experiences. The council will create strategic partnerships with a variety of organizations to engage and promote a more diverse pool of candidates. Additionally, the council is responsible for monitoring company accountability and will assess progress toward achieving IPSC’s DR&I objectives quarterly, to ensure continuous alignment.
“Diversity, respect and inclusion are a huge part of IPSC’s guiding pillars and are what fuels the company’s growth and success,” said Steve Gross, president and chief executive officer at IPSC. “Having a diverse workforce pools each employees’ unique experiences, perspectives and viewpoints to create a deeper level of trust amongst team members, strengthening their commitment to each other and IPSC. This adds greater value to IPSC’s ability to create and deliver the best possible service and operational excellence to our clients.”
IPSC’s DR&I Council will have two co-chairs or one chairperson, and report directly to the company’s president and CEO, Steve Gross. A member of IPSC’s senior management team will be voted on by the council and appointed as the council’s sponsor, who will provide guidance and serve as an intermediary between the co-chair(s) and senior leadership team. Council members will be selected by the chair(s) from among employees who have expressed interest in participation and have successfully navigated the selection process. The committee membership will reflect a diverse mix of employees, taking into consideration such factors as gender, race, ethnicity, age, gender identity, sexual orientation, disability, veteran status and more.
The DR&I Council will be responsible for the following initiatives:
To learn more about the IPSC DR&I Council and its initiatives and objectives, visit: www.ihipower.com.
ABOUT IHI POWER SERVICES CORP: IHI Power Services Corp’s (IPSC) parent company IHI Corporation, based in Tokyo, Japan, is a heavy industrial manufacturing and services company. The company is active in a number of industries, including aerospace, ship building, power generation, automotive and transportation infrastructure. IPSC was specifically formed to provide operations, maintenance, management and power plant support services to the U.S. power generation industry. The IPSC team of energy professionals deliver value-added service based on expertise gleaned through years of hands-on experience in the power generation industry. As an owner and operator, IPSC understands that minimizing operational risks and maximizing asset value while maintaining a safe work environment that is environmentally compliant is key to the success of every facility. By instituting proven programs, industry best practices and upholding the company’s guiding principles of growth, respect, accountability, integrity and lack of limitation – IPSC provides world-class service to each of the more than 30 facilities and 12.7 gigawatts it manages. For more information, visit www.ihipower.com and follow IPSC on LinkedIn.
Leslie Licano, Beyond Fifteen Communications, Inc.
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LONDON--(BUSINESS WIRE)--#apac--SpendEdge forecast the global Natural Gas Utilities market is expected to grow by USD 259 billion as we reach 2024. This is due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 5.11%.
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Natural Gas Utilities 2020-2024: Scope
SpendEdge presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The Natural Gas Utilities market report covers the following areas:
Natural Gas Utilities Market Geographic Landscape Outlook
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Natural Gas Utilities Market 2020-2024: Key Highlights
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Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
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SAN ANTONIO--(BUSINESS WIRE)--Howard Energy Partners (HEP) today announced that it has executed an agreement with a subsidiary of MPLX LP (NYSE: MPLX ) to purchase the Javelina Facility (Javelina) located in Corpus Christi, Texas. Javelina is a treating and fractionation plant that extracts olefins, hydrogen, and natural gas liquids (NGLs) from the gas streams produced by local refineries, creating purity products that are then sold to local markets on behalf of its refiner-customers.
“The Javelina facility is a multi-generational asset linked to stable, demand-driven refinery activity, further supporting our long-term growth strategy and diversification into new services and markets,” said HEP Chairman and Chief Executive Officer, Mike Howard. “We are very excited to broaden our existing footprint in the Corpus Christi market, and look forward to welcoming Javelina’s great team of employees that has been safely and efficiently running the facility for several years. We will continue to provide world class service to Javelina’s long-term customers.”
The Javelina facility has a long history of reliably producing a wide range of product streams including hydrogen, ethylene, ethane, propylene, propane, mixed butane and other pentanes+ for use in the energy and petrochemical markets. Javelina is connected by pipeline to all of the major refineries in the Corpus Christi area and provides a critical service to help ensure the refineries’ productive capabilities. Additionally, excess capacity at the facility provides the opportunity for growth in the future.
HEP expects to close the acquisition in early 2021.
About Howard Energy Partners
San Antonio-based Howard Midstream Energy Partners, LLC d/b/a Howard Energy Partners is an independent midstream energy company, owning and operating natural gas and crude oil gathering and transportation pipelines, natural gas processing plants, liquid storage terminals, deep-water dock and terminal facilities, rail, terminal and transloading facilities and other related midstream assets in Texas, New Mexico, Oklahoma, Pennsylvania and Mexico. The company has corporate offices in San Antonio, Houston and Monterrey, Mexico. For more information on Howard Energy Partners, please visit our website www.howardenergypartners.com.
Meggan Morrison
Redbird Communications Group
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DUBLIN--(BUSINESS WIRE)--The "Marine Cables and Connectors - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Marine Cables and Connectors Market to Reach $15 Billion by 2027
Amid the COVID-19 crisis, the global market for Marine Cables and Connectors estimated at US$10.7 Billion in the year 2020, is projected to reach a revised size of US$15 Billion by 2027, growing at a CAGR of 5% over the period 2020-2027.
Cable, one of the segments analyzed in the report, is projected to record 5.2% CAGR and reach US$10.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Connector segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
The U. S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 4.8% CAGR
The Marine Cables and Connectors market in the U. S. is estimated at US$3.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2027 trailing a CAGR of 4.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
IV. COMPETITION
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) and Navigator Holdings Ltd. (NYSE: NVGS) today announced that service has begun on a new 30,000-ton refrigerated ethylene storage tank at the ethylene export terminal, which is owned 50/50 by affiliates of the two companies. Navigator Atlas, a 21,000 cubic meter ethylene gas carrier, became the first vessel to utilize the new service when it was loaded at the facility located in Morgan’s Point, Texas on December 23, 2020. The tank will facilitate faster loading, increasing efficiency for the terminal’s customers and enabling the terminal to reach an annual nameplate export capacity of 1 million tons per year.
“Our fully commissioned Morgan’s Point ethylene export facility is the largest and most reliable supply source for waterborne ethylene in the world,” said A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “The terminal is backed by the supply of the entire U.S. Gulf Coast via our growing ethylene midstream services, which include our open access storage and market hub in Mont Belvieu. Our ethylene export, storage, and transportation services highlight our vision to provide midstream services for the petrochemicals industry that allow our customers to focus on their unique competitive advantages in the U.S. and in growing international markets.”
“The commissioning of the Morgan’s Point terminal in the face of a yearlong pandemic is testimony to the high-quality talent and dedicated team assigned to this project. We congratulate all employees and third-party contractors for the superb job in completing the export terminal on time and under budget,” said David Butters, Executive Chairman of Navigator Holdings. “We expect the terminal to operate at capacity, utilizing Enterprise’s vast interconnected ethylene platform, and to create strong demand for Navigator's fleet of specialized ethylene capable vessels.”
The new ethylene storage tank is supplied by a 600 million pound ethylene storage cavern at Enterprise’s Mont Belvieu, Texas complex. Enterprise also has the capability to further expand its underground caverns to accommodate additional ethylene storage. Ethylene is the primary feedstock for a wide variety of consumer products, including cell phones and computer parts, food packaging, apparel, textiles, and personal protective equipment.
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. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 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.
Navigator Holdings Ltd. is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia. We play a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with our sophisticated vessels providing an efficient and reliable ‘floating pipeline’ between the parties. Please visit www.navigatorgas.com for more information.
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner, as well as Navigator expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s and Navigator’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise and Navigator do not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Enterprise Contacts
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations, (713) 381-3635
Navigator Contacts
Oeyvind Lindeman, Chief Commercial Officer, +44 (0)20 7340 4575
Niall Nolan, Chief Financial Officer, +44 (0) 20 7340 4852
LONDON--(BUSINESS WIRE)--#GlobalSubseaProductionandProcessingMarket--The subsea production and processing market is expected to grow by USD 6.73 billion, progressing at a CAGR of almost 6% during the forecast period.
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The advances in subsea processing is one of the major factors propelling market growth. However, factors such as fluctuating crude oil prices owing to cancellation or delay of oil and gas drilling activities will hamper the market growth.
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Subsea Production And Processing Market: Application Landscape
Based on the product landscape, the shallow water segment is expected to post significant growth during the forecast period.
Subsea Production And Processing Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 34% of the market’s overall growth is expected to originate from APAC. China is the key market for Subsea Production and Processing in APAC.
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Wetgas Meters Market by Application and Geography - Forecast and Analysis 2020-2024: The wetgas meters market size has the potential to grow by USD 497.60 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Sand Control Systems Market by Application and Geography - Forecast and Analysis 2020-2024: The sand control systems market size has the potential to grow by USD 418.62 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
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LONDON--(BUSINESS WIRE)--#GlobalShaleGasMarket--Technavio forecast the global shale gas market is expected to grow by USD 13.51 billion during 2021-2025. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 4%.
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The shale gas market is driven by the advantages of shale gas. In addition, the increasing consumption of natural gas is anticipated to boost the growth of the shale gas market.
Rising economic activities have resulted in growth in carbon dioxide emissions worldwide. To reduce the environmental impact of fossil fuels, governments across the world are encouraging the use of fuels such as natural gas and biomethane as alternatives to fossil fuels. These gases provide several benefits when compared with conventional heating fuels in the commercial, residential, and industrial sectors. They burn completely and have the lowest carbon content among all fossil fuels. Moreover, the use of clean fuels such as natural gas reduces the energy dependency of countries. Many such benefits are fueling the growth of the global shale gas market.
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Major Five Shale Gas Companies:
BP Plc
BP Plc operates its business through segments such as Upstream, Downstream, and Rosneft. The company is into the exploration and production of natural gas, including shale gas.
Chevron Corp.
Chevron Corp. operates its business through segments such as Upstream and Downstream. The company produces shale gas in the US, Canada, and Argentina.
China Petrochemical Corp.
China Petrochemical Corp. operates its business through segments such as Exploration and Production, Refining, Marketing and Distribution, and Chemicals. The company deals in the exploration and production of shale gas.
ConocoPhillips
ConocoPhillips operates its business through segments such as Alaska, Lower 48, and Canada. The company is involved in the exploration and production of shale gas in Eagle Ford, Bakken, Niobrara, and Delaware in the US and Montney in Canada.
Devon Energy Corp.
Devon Energy Corp. operates its business through the Unified segment. The company produces shale gas including oil, natural gas, and natural gas liquids from the most prolific shale basins in the U.S.
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Shale Gas Market Application Outlook (Revenue, USD Billion, 2020-2025)
Shale Gas Market Geography Outlook (Revenue, USD Billion, 2020-2025)
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The deployment is a unique collaboration between two leading Zayed Sustainability Prize winners to provide sustainable energy solutions to fishing communities
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--The UAE-led humanitarian initiative, 20by2020, continues to extend sustainable solutions to various parts of the world with the latest deployment in Pulau Laut Selatan - South Kalimantan, Indonesia. The objective of this deployment is to provide 20,700 people from a large fishermen community with improved energy access through off-grid solar lighting.
Pulau Laut Selatan is in the Kota Baru Regency (Borneo), where a quarter of the population still live in the dark, and most households earn their living by fishing. 3,600 solar lanterns and 1,000 mobile-charging solar lanterns will be distributed to fishermen living without access to electricity to assist them and their families with household lighting and income generation, enabling greater economic activities by fishing early in the morning and at night.
Additionally, the lanterns will improve health conditions by replacing kerosene lamps, a basic indoor power source for most households in unelectrified areas, along with candles and diesel generators that can adversely affect people’s safety, the environment, and levels of productivity.
This deployment represents a unique collaboration between two leading Zayed Sustainability Prize winners. D.light is a 2013 Prize winner and a US-based pioneer in delivering affordable solar-powered solutions for households and small businesses that have been commissioned to provide the technology for 20by2020. Kopernik, is an Indonesian non-profit organisation and the 2016 Zayed Sustainability Prize winner which specialises in sustainable energy. Its mandate is to reduce poverty in last mile communities. Kopernik was in charge of implementing the project in the field.
H.E Ahmed Ali Al Sayegh, UAE Minister of State and Chairman of Abu Dhabi Global Market (ADGM), a founding partner of the 20by2020 initiative said: “The UAE and Indonesia are aligned with the UN 2030 agenda and share a common focus on building sustainable cities and communities and supporting vital growth sectors.”
H.E Al Sayegh added, “Over the years, both countries have embarked on several joint sustainability projects that are designed to build resilient societies and economies. The latest 20by2020 deployment of environmentally friendly solar solutions in Indonesia’s South Kalimantan region aims to enhance the quality of life for local residents and will also help to connect unelectrified populations to the grid. We are glad to be part of this meaningful initiative and outreach. ”
H.E. Mr. Arifin Tasrif, Minister for Energy and Mineral Resources of Indonesia, said: “We welcome and appreciate the support extended by the 20by2020 initiative and its partners to the people of South Kalimantan. The leadership of the United Arab Emirates Government, showcased through the Zayed Sustainability Prize, complements our Ministry’s programmes of accelerating the deployment of solar energy since 2017.”
“We strongly believe that this donation will effectively support the Indonesian Government to achieve our target of 23% new and renewable energy in the energy mix and help lead the country’s transition to a cleaner energy future. We would like to extend our appreciation to the United Arab Emirates and we hope that we can continue to work closely together in the field of new and renewable energy to achieve our shared vision of a sustainable future,” he added.
Established in December 2019, 20by2020 is a natural extension of the Zayed Sustainability Prize’s commitment to work with its winners and finalists by continuing to support their goals and allowing their solutions to reach a much wider number of people around the globe.
20by2020 is led by the Zayed Sustainability Prize in partnership with Abu Dhabi Global Market, Abu Dhabi Fund for Development, Mubadala Petroleum, the UAE Ministry of Tolerance and Coexistence, Masdar, and BNPP Paribas; the most recent partner to join the initiative and the first international private company.
The initiative exemplifies the commitment of its partners to enable sustainable development at home in the UAE, and abroad, and is complemented by the inspiring work powered by some of these partners in parallel on the ground. In Indonesia, since 2015 Mubadala Petroleum has provided over 174 scholarships to students from fishing communities in Kotabaru, South Kalimantan to pursue higher education at the Kotabaru Polytechnic, while funding has also been provided for soft skills and safety training for students.
Mubadala Petroleum has also been engaging with local fishermen in West Sulawesi since 2014 to support the deployment of artificial fish aggregating devices (rumpon) in the Makassar Strait and fishing lighting technology opening new fishing grounds and additional income sources. In 2018, Mubadala Petroleum funded a skills empowerment training programme for fishermen’s wives in this coastal area, in addition to implementing a Waste Management project which saw the introduction of a waste bank and reuse-recycle waste activities. The project not only improved the village’s environment but also empowered women in the community to generate additional income by producing recycled products and marine-based goods that they could then sell at the local market.
Dr Bakheet Al Katheeri, CEO of Mubadala Petroleum, a founding partner of the initiative, commented: “As a partner in the 20by2020 initiative, we are proud of all the work to date to support disadvantaged communities around the world. This deployment in South Kalimantan in Indonesia will harness the power of innovative technologies to enable sustainable solutions for the local fishing community. Since 2014, we have been involved in empowering this community through a range of well-established projects designed to enhance education, environmental and development goals. Our involvement in the 20by2020 initiative complements these efforts and we look forward to seeing the real-world impact on local communities as these schemes progress.”
Eight deployments have been rolled out to date, including energy, health, water and food solutions in Cambodia, Madagascar, Egypt, Jordan, Nepal, Tanzania, and Uganda. 20by2020 will conclude its 1st phase with a project in Costa Rica and additional solutions will be deployed in another 10 countries as part of phase two.
*Source: AETOSWire
Medhat Juma
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LONDON--(BUSINESS WIRE)--#GlobalUnmannedSeaSystemsMarket--The new unmanned sea systems market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the growing demand for stealth platform,” says a senior analyst for Industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the unmanned sea systems market size to grow by USD 3.15 billion during the period 2020-2024.
Unmanned Sea Systems Market Segment Highlights for 2020
Regional Analysis
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DUBLIN--(BUSINESS WIRE)--The "Autonomous Ships Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.
The concept of autonomous cargo ships has been into existence since decades. The concept has gained momentum with the advent of advanced sensor technology enabling the development of driverless cars and unmanned aircraft. Autonomous ships are unmanned vessels that are operated remotely from control stations onshore. This virtually eliminates the need for any human personnel onboard.
Autonomous ships are based on three basic components viz. sensor combination, control algorithm and communication. Sensor combination includes fusing different types of radars, thermal imaging sensors, LiDAR, visual cameras and several other sensors. The data gathered from all of the aforementioned devices is used to gain an accurate perspective of the surrounding conditions. Control algorithm is designed to analyze the data gathered from sensor network for navigation and collision avoidance. The communication module is responsible for connectivity with satellite and control station.
The overall autonomous ships market is expected to be driven by the enhanced operation offered by these vessels over conventional manual vessels. Autonomous ships are believed to be capable of reducing operating costs by nearly 20%. In addition, autonomous ships eliminate the possibility of human errors, thereby reducing the number of accidents. Furthermore, the market growth is also expected from the rising military budgets over unmanned systems. Rising technological advancement is estimated to provide substantial boost to the adoption of autonomous ships across the defense sector. Nevertheless, lack of regulatory framework and threat of cyber-attacks pose significant challenge to the market growth.
The report titled "Global Autonomous Ships Market- Growth, Future Prospects and Competitive Analysis, 2020 - 2028" offers strategic insights into the global autonomous ships market along with the market size and estimates for the duration 2018 to 2028. The said research study covers in-depth analysis of multiple market segments based on type, application and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
Companies Mentioned
Other in-depth analysis provided in the report includes:
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Autonomous Ships Market Revenue and Growth, 2018 - 2028, (US$ Bn) (Y-o-Y)
3.2 Market Inclination Insights
3.2.1 Heavy research and development in autonomous ships
3.3 Market Drivers
3.3.1 Enhanced operation of autonomous ships over manual ships
3.3.2 Increasing expenditure over autonomous vehicles from the defense sector
3.4 Challenges
3.4.1 Security threats and regulatory framework
3.5 Future Prospects
3.6 See-Saw Analysis
3.6.1 Impact Analysis of Drivers and Restraints
Chapter 4 Global Autonomous Ships Market, By Type
4.1 Overview
4.1.1 Global Autonomous Ships Market Revenue Share, By Type, 2019 & 2028 (% Value)
4.1.2 Attractive Investment Proposition, By Type
4.2 Partially Autonomous Ships
4.2.1 Global Partially Autonomous Ships Market Revenue, 2018 - 2028, (US$ Bn)
4.3 Fully Autonomous Ships
4.3.1 Global Fully Autonomous Ships Market Revenue, 2018 - 2028, (US$ Bn)
Chapter 5 Global Autonomous Ships Market, By Application
5.1 Overview
5.1.1 Global Autonomous Ships Market Revenue Share, By End-use Application, 2019 & 2028 (% Value)
5.1.2 Attractive Investment Proposition, By Application
5.2 Commercial
5.2.1 Global Autonomous Ships Market Revenue for Commercial Applications, 2018 - 2028, (US$ Bn)
5.3 Military & Security
5.3.1 Global Autonomous Ships Market Revenue for Military & Security Applications, 2018 - 2028, (US$ Bn)
Chapter 6 North America Autonomous Ships Market Analysis
Chapter 7 Europe Autonomous Ships Market Analysis
Chapter 8 Asia Pacific Autonomous Ships Market Analysis
Chapter 9 Rest of the World Autonomous Ships Market Analysis
Chapter 10 Company Profiles
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NEW YORK--(BUSINESS WIRE)--RMG Acquisition Corp. (“RMG”) today announced the results for the five proposals considered and voted upon by its stockholders at its Special Meeting on December 28, 2020. RMG reported that all of the various proposals giving effect to the previously announced business combination between RMG and Romeo Systems, Inc. (“Romeo Power”) were approved by approximately 99.8% of the shares of RMG voted at the special meeting. A Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission on December 28, 2020.
Additionally, the deadline for electing redemptions has passed and no stockholder has properly elected to redeem its shares in connection with the business combination. As a result, RMG will have approximately $394 million in its trust account prior to the business combination, which amount includes $160 million received in the private placement, which has been approved by stockholders and is expected to occur concurrently with the closing of the business combination.
The closing of the business combination is anticipated to take place on or around December 29, 2020. Following closing of the business combination, the combined company will be renamed Romeo Power, Inc. and trade on the New York Stock Exchange under the ticker symbol “RMO.”
About RMG Acquisition Corp.
RMG Acquisition Corp is a special purpose acquisition company whose management and board has deep experience in power, renewable energy, environmental services, energy technology and corporate governance. RMG’s team includes top level executives from Goldman Sachs, Carlyle Group, Cogentrix Energy, Deloitte & Touché, Access Industries, Calpine Corporation and Riverside Management Group. For additional information, please visit http://www.rmgacquisition.com/.
About Romeo Power
Romeo Power, founded in 2016 in California by Michael Patterson, is an industry leading energy technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles. Through its energy dense battery modules and packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer lasting batteries with longer range and shorter charge times. With greater energy density, Romeo Power is able to create lightweight and efficient solutions that deliver superior performance, and provide improved acceleration, range, safety and durability. Romeo Power’s modules and packs are customizable and scalable, and they are optimized by its proprietary battery management system. The company has approximately 100 employees and more than 60 battery-specific engineers and a 113,000 square foot manufacturing facility in Los Angeles, California with key battery development capabilities performed in-house. On October 5, 2020, Romeo Power and RMG announced a definitive agreement for a business combination that would result in Romeo Power becoming a publicly listed company. Upon closing of the transaction, the combined company will be named Romeo Power, Inc. and is expected to remain listed on the NYSE and trade under the new ticker symbol “RMO.” For additional information on Romeo Power, please visit https://romeopower.com.
No Offer or Solicitation
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Forward Looking Statements
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside RMG’s or Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the transactions contemplated by the proposed business combination; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the ability to meet the NYSE’s listing standards following the consummation of the transactions contemplated by the proposed business combination; costs related to the proposed business combination; Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; the performance of Romeo Power’s products; potential litigation involving RMG or Romeo Power; and general economic and market conditions impacting demand for Romeo Power’s products. Other factors include the possibility that the proposed transaction does not close, including due to the failure of closing conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of RMG’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and related proxy statement/consent solicitation statement/prospectus, and other documents filed by RMG from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and neither RMG nor Romeo Power undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Romeo Power
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ICR, Inc.
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ICR, Inc.
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RMG Acquisition Corp.
Philip Kassin
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212-785-2579
DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Start-up Companies to Action - Issue 19" report has been added to ResearchAndMarkets.com's offering.
The upstream oil and gas industry is increasingly focused on cutting costs and improving recovery rates through radical innovation and digital transformation. The Start-up Tracker is a resource to help the upstream industry identify providers with specific solutions to industry challenges.
The tracker provides a rich database of start-up companies that have an industrial application or an application for another industry that can be translated into upstream oil and gas. Each issue contains detailed company profiles, an analyst viewpoint, and an overall score for every start-up included.
In addition, the publisher provides guidance on potential acquisitions, investments, partnerships, and implementation for clients.
Key Topics Covered:
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2. Companies to Action
3. The Last Word
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GONZALES, La.--(BUSINESS WIRE)--Specialty Welding and Turnarounds, LLC (SWAT), a leading provider of specialty welding and other highly technical services to the oil and gas refinery, biodiesel, petrochemical, and industrial markets, announced today the acquisition of Hydroprocessing Associates, LLC (HPA). Headquartered in Moss Point, MS, and with substantial operations across the South-Central and Western U.S., HPA provides specialized catalyst handling services for oil and gas refineries and petrochemical facilities. As part of the transaction, SWAT will also acquire Breathing Systems Inc. (BSI), a wholly-owned subsidiary of HPA which provides manufacturing, maintenance, and repair for NIOSH-approved life support systems worn by workers conducting catalyst change-out services.
“The addition of HPA into the SWAT platform enables us to offer an additional highly specialized and mission-critical service,” said Johnny Holifield, Founder & CEO of SWAT. “We will now be able to provide high-quality catalyst handling services as a core part of our differentiated offering. We’re excited to extend the SWAT brand into this attractive market.”
“SWAT’s consistent focus on customer service, execution quality, and safety make it a perfect match for HPA,” said Rodgers Thibodaux, General Manager of HPA. “With SWAT, we anticipate tapping into a significant base of resources that will allow us to further leverage our highly-trained workforce and proprietary technology to better serve our customers.” At close, Mr. Thibodaux will lead the newly formed division as Vice President of SWAT Catalyst Services.
SWAT was acquired by the private equity firm ORIX Capital Partners in January 2020, in partnership with Hastings Equity Partners and the SWAT management team. HPA represents the partnership’s first add-on acquisition as SWAT executes on a multi-pronged growth strategy.
“We continue to be impressed with SWAT’s commitment to being an industry-leading provider,” said Mohammed Khalil, Director at ORIX Capital Partners. “Expanding SWAT’s service offering is an opportunity to demonstrate to both new and existing clients SWAT’s best-in-class capabilities.”
Specialty Welding and Turnarounds
Founded in 2014, SWAT has evolved into an elite and trusted provider of highly specialized turnaround services with an industry-leading safety record, superior execution capabilities, and a wide range of specialty welding and mechanical service offerings. The company currently has master service agreements with more than 50 U.S. facilities, including some of the world’s largest oil refineries, and maintains multiple touchpoints across its key customer relationships. SWAT has a diverse geographic presence with offices in Louisiana, Texas, and California, a coverage area spanning more than 14 states and a nationwide craft labor database of over 4,000 highly experienced professionals.
Hydroprocessing Associates
Founded in 2005, HPA initially formed as an affiliated entity of HPA Global, a global full-service catalyst and reactor maintenance company. Two years later, HPA was formed as a U.S. entity and began building its business out of Moss Point, MS, performing turnarounds for gulf coast refineries and later securing a national MSA with Chevron and adding customers including BP, Citgo, P66, and Exxon Mobil. In 2014, HPA acquired BSI, an independent manufacturer of NIOSH approved life support systems supplying the global catalyst industry – HPA was an existing BSI customer exclusively using their lock-on helmets and life support units.
ORIX Capital Partners
ORIX Capital Partners (OCP), the operationally-focused private equity team of ORIX Advisers, LLC and a wholly-owned subsidiary of ORIX Corporation USA (ORIX USA), seeks to make direct equity investments in established middle-market companies throughout North America, spanning a variety of industries, including industrial services, business services, and general industrials. For more information about OCP and its capabilities, please visit www.orixcapitalpartners.com.
Hastings Equity Partners
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market industrial service and business services segments. Hastings' approach is to leverage the firm's managers and investors' extensive operational experience, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of industrial service and business service companies, it is able to share best practices, technology trends, and contacts across its platform to ensure that all of its investments benefit.
ORIX Corporation USA
Jeff Smith
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Tel: 214.237.2301
DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client Tradewinds to Energy North Incorporated (ENG).
Located in Bangor, Maine, Tradewinds is a locally owned and operated business with 15 convenient locations across the state. The stores offer premium Citgo fueling stations with ethanol-free options, as well as retail shops and popular eateries for customers to enjoy such as Dunkin’ Donuts and Tradewinds’ own Anchor Deli brand. Craft beers and wines sourced from Maine and the world over are also available. Several locations also feature car washes.
Based in Lawrence, Massachusetts, ENG operates 52 gas stations, convenience stores, car washes and food service locations. “We are excited to welcome the Tradewinds employees and customers from ten properties into the ENG family,” said Jeff Black, Owner & COO, ENG. “We’re looking forward to expanding our gas station, convenience store, car wash and food service footprint within Maine.”
As one of the largest wholesale distributors of fuel in the New England and Upstate New York areas, ENG offers all of the major brands, including: Exxon, Mobil, Sunoco, Gulf and Citgo while continuing to grow its Haffner’s and new Tradewinds proprietary brand. The Haffner’s brand also distributes oil and propane while providing burner service to nearly 50,000 customers in Massachusetts, New Hampshire and Southern Maine. Gasoline, diesel, oil and propane are transported through its sister company, ABS Fuel Systems. Over the past decade, ENG has grown rapidly because of its many successful acquisitions. For more information, please visit www.EnergyNorthGroup.com or www.Haffners.com.
Generational Equity Executive Managing Director and M&A-Technology Practice Leader David Fergusson and his team, led by Managing Director, M&A Moses Shmueli and Vice President M&A, Tristan Keefe, successfully close the deal. Senior Managing Director Brian Hendershot established the initial relationship with Tradewinds.
“The combination of these family-run businesses was a very logical fit, not only from the perspective of shared core values of providing superior customer experience, treating employees like family, and giving back to the community, but also geographically, as ENG has been acquiring assets in New England and bolstering its presence in Maine,” said Shmueli.
“The acquisition will allow the owners, Chuck and Belinda Lawrence, to focus on running their core supermarket businesses, knowing their customers and employees will be in the good hands of Jeff Black and his family, providing it with the resources needed to continue to grow, thrive and benefit the communities where they do business,” added Shmueli.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company the 2017 and 2018 Investment Banking Firm of the Year and 2020 Valuation Firm of the Year. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
For more information:
Carl Doerksen
972-232-1125
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