PLANO, Texas--(BUSINESS WIRE)--#Blueoil--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) plans to issue its first quarter 2022 financial and operating results prior to the market opening on Thursday, May 5, 2022. On the same day, the Company is scheduled to host a webcast and conference call at 11:00 a.m. Central Time (12 p.m. Eastern Time). The presentation webcast will be available, both live and for replay, on the Investor Relations page of the Company’s website at www.denbury.com. Individuals who would like to participate in the conference call should dial in shortly before the scheduled start time.
What: Denbury 1Q 2022 Results |
Date: Thursday, May 5, 2022 |
Time: 11:00 a.m. Central Time (12 p.m. Eastern Time) |
Dial-in numbers: 1.844.200.6205 (domestic) and +1.929.526.1599 (international) |
Access Code: 328081 |
ABOUT DENBURY
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions within this decade, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--Under the theme “The riddim that connects the world”, the Jamaica Pavilion at the World Expo 2020 Dubai, aims to introduce and position Jamaica as a logistic hub connecting the Americas to the rest of the world. With the island strategically located, providing direct connections to major gateways, this makes the destination even more appealing to tourism investors and stakeholders in the airline industry.
Emirates Airlines is a premium airline from the Middle East region, and Jamaica’s Tourism Minister, Hon Edmund Bartlett, has initiated discussions with top representatives of the airline during his visits to the World Expo 2020 Dubai. The aim of these discussions is to enhance connectivity between the regions by facilitating airlift.
In an ongoing effort to enhance the connectivity efforts between Asia, Middle East, Africa and Europe to Jamaica and rest of the Caribbean and Latin American region, Minister Bartlett held meetings with His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and Chief Executive of the Emirates Group.
Other Jamaican dignitaries present at the meeting were, Senator The Honourable Kamina Johnson Smith, Minister of Foreign Affairs and Foreign Trade, leading the delegation to World Expo 2020 Dubai; Ambassador Alison Stone Roofe, Under Secretary for Multilateral Affairs; Donovan White, Jamaica’s Director of Tourism and Diane Edwards, President of JAMPRO. Sheikh Majid Al Mualla, Divisional Senior Vice President International Affairs and Mr. Adnan Kazim, Chief Commercial Officer from Emirates Airlines were also present at the meeting.
Jamaica’s well developed and world-class infrastructure was an essential element of the dialogue as mention was made of the highways, airports and sea ports including the existing air and sea connectivity within the region. The island’s meetings incentives conferencing and exhibitions (MICE) facilities which attract tens of thousands of business travellers for conferences, tradeshows and corporate activities are major advantages. Donovan White, Director of Tourism, Jamaica also presented relevant data on the island’s tourism product as he provided details on potential growth in airlift capacity in terms of potential flyers.
Minster Bartlett also briefed the Emirates delegation on the expansion of the Panama Canal and the benefits that Jamaica will gain from new and innovative commercial ventures as it seeks to position itself to join Rotterdam, Dubai, and Singapore as the fourth node in the international logistics chain. Director White gave an update that the Montego Bay Convention Centre is preparing to host the World Free Zone Organization (WFZO) AICE 2022 and is expecting 3,500 delegates from across the globe, with over 70% of that expected from Asia, Africa and Europe. Launched in UAE, the World Free Zone Organization will be hosting its annual AICE 2022 June 13 – 17 in Jamaica.
Given Jamaica’s geographical location in the center of the Americas, the efforts are being made at an opportune time between Emirates Airlines and Jamaica to be partners to the wider region.
Ms. Shweta Chawla | Public Relations
Jamaica Tourist Board
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2022.
Unitholders of record on April 18, 2022 will receive a distribution amounting to $4,887,500 or $0.425 per unit payable April 25, 2022.
Volumes, average price and net profits for the payment period were:
Volume (BOE) |
|
144,512 |
|
|
Average price (per BOE) |
|
$ |
77.07 |
|
Gross proceeds |
|
$ |
11,138,205 |
|
Costs |
|
$ |
4,584,949 |
|
Net profits |
|
$ |
6,553,256 |
|
Percentage applicable to Trust’s 80% |
|
|
|
|
Net profits interest |
|
$ |
5,242,605 |
|
MV Partners reserve for capital expenditures |
|
$ |
-- |
|
Total cash proceeds available for the Trust |
|
$ |
5,242,605 |
|
Provision for current estimated Trust expenses |
|
$ |
(249,688 |
) |
Amount withheld for future Trust expenses |
|
$ |
(105,417 |
) |
Net cash proceeds available for distribution |
|
$ |
4,887,500 |
|
As previously disclosed, in November 2021, the Trustee notified MV Partners, LLC (“MV Partners”) that the Trustee intends to build a reserve for the payment of future known, anticipated or contingent expenses or liabilities, commencing with the distribution payable in the first quarter of 2022. The Trustee intends to withhold a portion of the proceeds otherwise available for distribution each quarter to gradually build a cash reserve to approximately $1.265 million. This amount is in addition to the letter of credit in the amount of $1.8 million provided to the Trustee by MV Partners to protect the Trust against the risk that it does not have sufficient cash to pay future expenses. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the Trust Agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold $105,417 from the proceeds otherwise available for distribution this quarter, for a total amount of $210,834 withheld to date.
This press release contains forward-looking statements. Although MV Partners has advised the Trust that MV Partners believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended March 31, 2022. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
DUBLIN--(BUSINESS WIRE)--The "Electric Vehicles (EV) in Oil and Gas - Thematic Research" report has been added to ResearchAndMarkets.com's offering.
The automotive industry is undergoing a profound period of disruption. Four concurrent megatrends are shaking up business strategies-connected cars, autonomous vehicles, shared mobility services, and electrification, or 'CASE'. Of the four megatrends, battery electric vehicles (BEVs) are arguably the most critical at this moment in time.
Across the industry, automakers and suppliers are announcing bold strategies to pivot away from producing combustion vehicles and toward electric models. This has seen many companies race to secure vital supplies of batteries, EV components, and the raw materials needed to create them.
Scope
Reasons to Buy
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/jg1bji
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Geospace Technologies Corporation (NASDAQ: GEOS) today announced a $10M contract for the purchase of the Company’s OBX series of deepwater ocean bottom nodes from an international seismic contractor. The rental customer exercised an option in the Company’s rental agreement to purchase more than half of the nodes under this contract. The sale of the nodes occurred prior to the end of the Company’s second quarter of fiscal year 2022.
“We’re pleased our valued customer took advantage of the opportunity to convert a portion of this rental contract to a sale,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “Our company’s strengths lie in the design, manufacture and delivery of some of the world’s most robust marine seismic equipment. Incentives we provide, such as the rental equity accrual toward purchase, streamline the path for our customer to choose our quality products to deliver trusted, actionable information to their clients.”
Geospace principally designs and manufactures seismic instruments and equipment. The company markets seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. The company also markets seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. Geospace designs and manufactures other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.
Caroline Kempf, This email address is being protected from spambots. You need JavaScript enabled to view it., 321.341.9305
NORTH BETHESDA, Md.--(BUSINESS WIRE)--$ESAB #ESABCorporation--ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a premier global fabrication and specialty gas control technology company focused on welding technology, advanced equipment, consumables, specialty gas control, robotics, and digital solutions announced today the completion of its separation (the “Separation”) from Enovis Corporation, formerly known as Colfax Corporation (“Enovis”), and its launch as an independent, publicly traded corporation. ESAB’s common stock will begin trading “regular way” today, April 5, 2022, on the New York Stock Exchange under the symbol “ESAB.”
“Today marks a major milestone for ESAB Corporation as a premier fabrication technology company,” said Shyam P. Kambeyanda, President and Chief Executive Officer of ESAB Corporation. “We have a proven track record of revenue growth, margin expansion, and free cash flow generation, and our team is excited and ready to operate and thrive as an independent, publicly traded company. Given our rich history of innovation and culture of continuous improvement, the ESAB Business Excellence System will be the foundation of our initiatives to always improve our operational performance and meet our financial commitments. We believe our well-established playbook will create long-term value for all of our stakeholders.”
In addition to celebrating its spin-off as a public company, ESAB also announced its new purpose and values. “At our core, we at ESAB Corporation believe that the progress we make today makes the world we imagine possible. We are proud to announce, Shaping the world we imagine, as our new company purpose,” continued Kambeyanda. “As a global company with more than 9,000 associates serving 147 countries, we developed our purpose and values with the input of our associates and customers. As we launch into this next period in our company’s 117-year international legacy, we remain committed to creating an inclusive culture built on shared success, collaboration, continuous improvement, talent development and leadership.”
In connection with the Separation, on April 4, 2022, Enovis shareholders received one share of ESAB common stock for every three shares of Enovis common stock held at the close of business on March 22, 2022. Fractional shares will be aggregated and sold into the public market and the proceeds distributed pro rata to Enovis shareholders who otherwise would have received such fractional shares. The shares will be credited to “street name” shareholders through the Depository Trust Corporation. Approximately 54 million shares, or 90%, of ESAB’s common stock were distributed to Enovis shareholders, and approximately 6 million shares, or 10%, of ESAB’s common stock, were retained by Enovis.
About ESAB
ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and specialty gas control technology, providing our partners with advanced equipment, consumables, specialty gas control, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world. To learn more, visit esabcorporation.com.
Forward-Looking Statements
This press release includes forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning the Company’s plans, goals, objectives, outlook, expectations, and intentions, including with respect to the Separation, and the anticipated benefits of the Separation and other statements that are not historical or current fact. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including general risks and uncertainties such as market conditions, economic conditions, geopolitical events, changes in laws, regulations or accounting rules, fluctuations in interest rates, terrorism, wars or conflicts, major health concerns, natural disasters or other disruptions of expected business conditions. Factors that could cause the Company’s results to differ materially from current expectations include, but are not limited to, risks related to the impact of the COVID-19 global pandemic, including the rise, prevalence and severity of variants of the virus, actions by governments, businesses and individuals in response to the situation, such as the scope and duration of the outbreak, the nature and effectiveness of government actions and restrictive measures implemented in response; the war in the Ukraine and escalating geopolitical tensions as a result of Russia’s invasion of the Ukraine; macroeconomic conditions; supply chain disruptions; the impact on creditworthiness and financial viability of customers; risks relating to the Separation, Enovis’ ability to satisfactorily complete steps necessary for the Separation and related transactions to be generally tax-free for U.S. federal income tax purposes, the ability to realize the anticipated benefits of the Separation, and the financial and operating performance of the Company following the Separation; other impacts on the Company’s business and ability to execute business continuity plans; and the other factors detailed in the Company’s Information Statement filed as Exhibit 99.1 to the Company’s Registration Statement on Form 10B-12/A on March 17, 2022, as well as other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission. In addition, these statements are based on assumptions that are subject to change. This press release speaks only as of the date hereof. The Company disclaims any duty to update the information herein.
Investor Relations Contact
Mark Barbalato
Vice President, Investor Relations
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 1-301-323-9098
Media Contact
Tilea Coleman
Vice President, Corporate Communications
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Phone: 1-301-323-9092
Settings Automatically Turn Off Power Within One-Tenth of a Second When a Hazard on Powerline is Detected
PG&E Pledges Improved Customer Outreach, Offers Portable Power and Additional Support for Schools, Hospitals and Those with Access or Functional Needs
SAN FRANCISCO--(BUSINESS WIRE)--With California’s growing wildfire risk, Pacific Gas and Electric Company (PG&E) will expand its use of an advanced technology that quickly and automatically shuts off power within one-tenth of a second if a potential threat to the electric system, such as a tree branch falling into a powerline, is detected. Launched as a pilot in July 2021, Enhanced Powerline Safety Settings (EPSS) will be expanded to all distribution powerlines in high fire-threat areas this year.
As of Dec. 31, 2021, these enhanced safety settings reduced California Public Utilities Commission-reportable ignitions by 80% on EPSS-enabled circuits in High Fire-Threat Districts (HFTDs) last year. This is compared to the prior three-year average across more than 11,500 HFTD miles.
“As we strive for our goal of zero utility-caused wildfires, we recognize a critical need to deploy these enhanced safety settings on our powerlines in the areas that face the greatest threat,” said Mark Quinlan, PG&E’s Vice President of Transmission and Distribution System Operations. “In tandem with the company’s other wildfire prevention efforts for 2022, including beginning to underground 10,000 miles of electric distribution powerlines and installing more weather stations, high-definition cameras and microgrids, the expansion of these advanced safety settings will help make our system safer for our customers.”
This year, PG&E plans to expand the program across 25,500 HFTD distribution line miles within the company’s service area and in select adjacent areas. Compared to Public Safety Power Shutoffs, which are a last resort when severe weather conditions such as high winds are forecast, EPSS is effective any time when extremely dry fuels make powerline faults more likely to spark a fire.
(Watch a video of ongoing testing of the safety settings at PG&E’s Applied Technology Services lab in San Ramon.)
Enhanced Customer Support
Although these new safety settings make the electric system safer, having the power turn off quickly and automatically results in customer outages. PG&E is working hard to reduce the outages and increase the resources available to affected customers. During the 2021 pilot, after optimizing the equipment and improving the efficiency of restoration processes, the average customer outage length on EPSS-enabled circuits decreased by 40%.
Additional improvements to the program in 2022 will enable a more surgical approach to minimize the frequency and duration of outages and reduce the number of customers impacted. That includes being operationally flexible during wildfire season when it comes to enabling the enhanced safety settings circuits. PG&E is also bolstering communication and engagement efforts with potentially affected customers and communities in HFTDs and nearby areas during and after service interruptions. This will include automated outage alerts with improved estimated time of restoration information. Additional communications include newsletters, webinars, letters and emails; updating the EPSS page on our website; and providing information via social media sites such as Nextdoor and Facebook.
PG&E also has resources to help customers prepare for outages and stay safe. In 2022, changes to our programs include:
Additional actions include:
Before Wildfire Season: Engineering settings on devices on powerlines to ensure wildfire mitigation benefit and improved coordination amongst devices. Conducting preseason engagement with customers, media, agencies and additional stakeholders to proactively communicate the 2022 Enhanced Powerline Safety Settings expansion and available support. Performing system maintenance and vegetation management to make the electric system safer and improve reliability.
During Wildfire Season: Engaging customers and communities by sharing information, resources and support through multiple channels; pre-staging critical customer solutions, such as temporary generation and auto-transfer switches at schools and hospitals; informing customers when circuits return to normal settings with the onset of saturating rain. Staffing up and preparing helicopters to respond quickly to outages when they occur and establishing a robust outage review process to address outage causes and mitigate future outages.
After Wildfire Season: Sharing key program takeaways from the year via progress reports, emails, website updates and social media; and incorporating lessons learned into future program plans.
For more information, please visit pge.com/epss.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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DUBLIN--(BUSINESS WIRE)--The "Sea Freight Forwarding Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Sea Freight Forwarding Market is expected to grow at a CAGR of more than 3% during the forecasted period.
Key Market Trends
Rising Cross Broder E-Commerce driving Sea Freight Forwarding Market
In 2019, retail e-commerce sales worldwide amounted to around 3.53 trillion US dollars and e-retail revenues are projected to grow even further at a quicker pace in the coming few years. Online shopping is one of the most popular online activities worldwide, both domestic and cross-border e-commerce is booming in developing markets such as China, India, and Indonesia due to that reason. This encompasses not just direct-to-consumer retail, but also shipments of electronics, pharmaceuticals, and consumer packaged goods.
Growth in e-commerce is tied very closely to consumption growth in the region as developing economies make the gradual shift from growth by manufacturing for export to higher levels of consumption by expanding middle classes. In China, cross-border e-commerce transactions already account for up to 20 percent of total import and export trading volumes. Compared to China, in other regions, the size of e-commerce-related business is much smaller, but the growth is also rapid. One of the most preferred mode for e-commerce freight forwarding is through sea and many business are favoring that as evidenced by the growing ocean freight volumes to 11 billion tons in 2018.
Kuehne + Nagel leading the Ocean Freight Forwarders in 2019
In 2019, Kuehne + Nagel was ranked the world's leading ocean freight forwarder, with over 4.8 million twenty-foot equivalent units of ocean freight. Today headquartered in Switzerland, Kuehne + Nagel was founded in 1890 in Bremen, Germany. At the present time, Kuehne + Nagel Group has offices in more than 100 countries and employs approximately around 82,000 people.
In the year 2019, the company generated roughly around 25.3 billion Swiss francs from its worldwide operations, and about 2.7 billion Swiss francs from its operations in Asia Pacific alone. Between the fiscal year of 2013 and 2019, the operational expenses of Kuehne + Nagel increased somewhat continuously, reaching 6.25 billion Swiss francs. The company was followed by Sinotrans and DHL in the leaders ranking worldwide.
The business volume of ocean freight forwarders has been steadily increasing because in the last three decades, the seaborne trade transport volume roughly tripled, reaching 11 billion metric tons in 2018. In 2017, 1.83 billion metric tons of international seaborne trade were transported by container ships. As of January 2019, Japan possessed the second largest merchant fleet by operator domicile globally.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Value Chain / Supply Chain Analysis
4.3 Technological Trends
4.4 Investment Scenarios
4.5 Government Regulations and Initiatives
4.6 Spotlight - Sea Freight Transportation Costs/Freight Rates
4.7 Insights on the E-commerce Industry
4.8 Impact of Covid-19 on Sea Freight Forwarding Market
5 MARKET DYNAMICS
5.1 Drivers
5.2 Restraints
5.3 Opportunities
5.4 Industry Attractiveness - Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitutes
5.4.5 Intensity of Competitive Rivalry
6 MARKET SEGMENTATION
6.1 By Type
6.2 By Geography
7 COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 Kuehne + Nagel
7.2.2 Sinotrans
7.2.3 DHL
7.2.4 DB Schenker
7.2.5 DSV Panalpina
7.2.6 Kerry Logistics
7.2.7 Expeditors International
7.2.8 C.H. Robinson
7.2.9 Hellmann
7.2.10 Bollore Logistcs
7.2.11 Fr. Meyer's Sohn
7.2.12 Yusen Logistics/ NYK Logistics
7.2.13 Geodis
7.2.14 Ceva Logistics
7.2.15 Agility Logistics
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
9 DISCLAIMER
For more information about this report visit https://www.researchandmarkets.com/r/4myb6i
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Nine Energy Service, Inc. (NYSE:NINE) announced today that it has scheduled its first quarter 2022 earnings conference call for Thursday, May 5, 2022, at 9:00 am Central Time. During the call, Nine will discuss its financial and operating results for the quarter ended March 31, 2022, which are expected to be released prior to the conference call.
Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and ask for the “Nine Energy Service Earnings Call”. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.
For those who cannot listen to the live call, a telephonic replay of the call will be available through May 19, 2022, and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and enter passcode 13728777.
About Nine Energy Service
Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.
For more information on the Company, please visit Nine’s website at nineenergyservice.com.
Nine Energy Service Investor Contact:
Heather Schmidt
Vice President, Strategic Development, Investor Relations and Marketing
(281) 730-5113
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VANCOUVER, British Columbia & SHANGHAI--(BUSINESS WIRE)--$LPEN--Loop Energy™ (TSX: LPEN) announced its wholly-owned subsidiary, Loop Energy Technologies (Shanghai) Co. Ltd. ("Loop Energy Shanghai"), appointed Quan Hu as President on April 1, 2022. In addition, Dr. Leon Liu will join Loop Energy Shanghai's Board of Directors.
Quan brings 20 years of experience in the automotive and technology sectors in Asia, North America and Europe. As President of Loop Energy Shanghai, he oversees strategic planning, market expansion, manufacturing operations and partnership management for China. Quan joins from a Chinese developer of zero-emission hydrogen power cells for motive applications, where he served as General Manager for three years. He developed a 1,000 hydrogen-electric forklift pilot program and launched China's first commercial fuel cell forklift fleet during his tenure. Previously, Quan served in senior roles with Chetuan.com, lnfor and Mercedes-Benz. He holds an MBA from Goizueta Business School of Emory University.
"I am very excited to join Loop Energy Shanghai to accelerate the commercialization and market expansion of our products in China," said Quan Hu. "Our patented eFlowTM technology, the successful operation of the Nanjing bus fleet and the upcoming launch of our manufacturing facility in Shanghai set a strong foundation to capitalize on the anticipated demand for fuel cell solutions in China. I believe that now is the perfect time to commercialize our fuel cell technology as China pursues its medium- and long-term national hydrogen plan."
Dr. Liu's addition to the Loop Energy Shanghai board brings a deep understanding of the Chinese automotive industry. He is currently the co-founder and Chairman of InnoStone Capital Co. Ltd, an investment management business focused on the rapidly transforming Chinese automotive industry, and sits on the board of Punch Powertrain inc., an automotive transmission supplier. During his 30-year career, Dr. Liu gained experience at international automotive companies Ford Motor Co., WABCO Holdings and Qoros Automotive. Dr. Liu led WABCO in Asia and Europe for eleven years as the President, Asia Region and Global President, Truck, Bus and Car Division. In addition, serving as the CEO of Qoros Automotive and co-founder of Sinogold Automotive he brings experience in China's maturing electric vehicle industry. Dr.Liu holds an MBA from Michigan State University and a Ph.D. in Materials Science and Engineering from the Tokyo Institute of Technology. He will join Loop Energy President & CEO, Ben Nyland and Chief Financial Officer, Damian Towns on the Loop Energy Shanghai Board of Directors.
The appointments come as Loop Energy Shanghai continues its expansion in China. In 2021, the company made significant progress in developing its manufacturing facility to expand its global production capacity with the aim to open in Q2 2022. The Shanghai area-based facility will aim to increase production volumes and service its growing customer base in China reliably.
"We are extremely excited to welcome Quan and Dr. Liu and strengthen the leadership of Loop Energy Shanghai," said Loop Energy President & CEO, Ben Nyland. "We believe that China is committed to harnessing hydrogen to decarbonize its economy, including commercial mobility. We are confident that Quan and Dr. Liu will build upon the strong foundation laid by Vice-President Operations, Kirk Livingston, who will continue to focus on day-to-day operations."
China has announced an ambitious hydrogen strategy, including developing Beijing, Shanghai, Guangdong, Henan and Hebei into hydrogen cities and city clusters by electrifying transit and investing in clean energy. Both state-owned enterprises and the private sector have invested billions of RMB in hydrogen projects. The wave of investment is expected to target China's goal of becoming carbon-neutral by 2060.
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop's products feature the company's proprietary eFlow™ technology in the fuel cell stack's bipolar plates. eFlow™ enables commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
Forward Looking Information Warning
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations and projections regarding future events. Particularly, statements regarding the company's expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information, including without limitation, the ability of Loop Energy Shanghai to accelerate the commercialization and market expansion of our products in China, the successful operation of the Nanjing bus fleet, the expected launch and operational date of our manufacturing facility in Shanghai, the expected timing of commercialization of our fuel cell technology and China's expected pursuit of its' national hydrogen plan. Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of the company's products, growth in demand for the company's products both inside and outside of China, the company's ability to execute on its strategy and achieve its targets; and is subject to a number of risks and uncertainties, many of which are beyond the company's control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward‐looking information. Such risks and uncertainties include, but are not limited to, the realization of electrification of transportation, the elimination of diesel fuel and ongoing government support of such developments, the expected growth in demand for fuel cells for the commercial transportation market, our ability to obtain future patent grants for our proprietary technology and the effectiveness of current and future patents in protecting our technology and the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 23, 2022. Loop disclaims any obligation to update these forward-looking statements.
Investor Inquiries:
Bill Zhang | Tel: +1 604.222.3400 Ext. 299 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Laine Yonker | Tel: +1 646.653.7035 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Inquiries:
Lucas Schmidt | Tel: +1.604.222.3400 Ext. 603 | This email address is being protected from spambots. You need JavaScript enabled to view it.
OSAKA, Japan--(BUSINESS WIRE)--Daigas Gas and Power Solution Co., Ltd. (DGPS), 100% subsidiary of Osaka Gas Co., Ltd. (OG) (TOKYO:9532), has been awarded Front End Engineering & Design (FEED) and technical consulting service for the Phase-4 Expansion Project of Taichung LNG Receiving Terminal owned and operated by CPC Corporation, Taiwan (CPC).
The Taiwanese government has been pursuing an energy policy which targets nuclear power phase-out and reduction of greenhouse gas emission. Under this energy policy, the government is planning to increase the share of natural gas in power generation to 50% by 2025 and CPC is expanding its LNG regasification and storage capacity in tandem with the plan.
The Phase-4 Expansion Project includes building 4 LNG storage tanks (each with 180,000 kl storage capacity), regasification facilities and a jetty for LNG tankers. After the completion of this project scheduled in 2029, LNG handling capacity of Taichung LNG Receiving Terminal will increase to 13 million ton per annum. (*1)
OG has accumulated skills and know-how for efficient and safe LNG receiving terminal operation and maintenance through the experiences at its world-class terminals since the arrival of its first LNG cargo in 1972.
DGPS’s first business experience with CPC dates back to 1990 when Osaka Gas Engineering Co., Ltd. (OGE, a predecessor company of DGPS), provided technical support for the commissioning of CPC’s Yung-An LNG Receiving Terminal. Since then, OGE/DGPS has established close business relationship with CPC through continuous involvement in CPC’s LNG receiving terminals including the ongoing technical consulting service for the construction of CPC’s third LNG receiving terminal in Guantang, Taoyuan City.(*2) DGPS believes that Daigas Group’s technical capabilities for designing, construction and operation of LNG receiving terminal and its own relentless efforts and contributions in the preceding projects were highly evaluated by CPC when awarding DGPS the FEED and technical consulting service contract for the Phase-4 Expansion Project. DGPS is committed to keep providing a high level of technical services (*3) to CPC for the successful completion of the Phase-4 Expansion Project of Taichung LNG Receiving Terminal.
Daigas Group including DGPS is going to expand its overseas energy business from upstream to downstream by fully utilizing its experiences in and out of Japan and its existing overseas business platforms.
(*1) |
Based on the information in “Feasibility Study Report on Taichung plant outer port expansion (Phase-4)” |
(*2) |
“Osaka Gas Engineering to Provide Consulting Services on Construction of LNG Receiving Terminals in Taiwan” - Press release of Osaka Gas Co., Ltd. on May 17, 2018 |
(*3) |
DGPS has provided technical consulting services related to the construction, operation and maintenance of LNG receiving terminal for 40 projects in 9 countries including Taiwan |
HINAKO MATSUO
OSAKA GAS CO., LTD.
CORPORATE COMMUNICATION DEPT.
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AKRON, Ohio--(BUSINESS WIRE)--$bw #coolingtower--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment has been awarded a contract for more than $12 million by Lotte Engineering & Construction Co. to supply hybrid cooling systems for Korea District Heating Corporation’s (KDHC) power generation and district heating projects in Daegu and Cheongju, South Korea.
B&W Environmental will design and supply two SPIGTM hybrid cooling towers that utilize advanced wet and dry cooling technologies to efficiently cool the plants while reducing water consumption, minimizing plume formation and decreasing noise emissions.
“B&W Environmental is seeing significant business growth in East Asia, as demand for hybrid cooling technology grows,” said Babcock & Wilcox Executive Vice President and Chief Operating Officer, Jimmy Morgan. “Our SPIG hybrid cooling systems are flexible and reliable, and particularly well-suited for locations where reduced plume formation is important, such as in residential areas.”
Since opening its Asia-Pacific headquarters in 2020, B&W has added significant resources and personnel in the region, while focusing on key growth areas for its business, such as plant upgrades, advanced emissions control and cooling technologies, parts, equipment and other services to customers in the renewable, environmental, power and industrial markets.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.
About B&W Environmental
Babcock & Wilcox Environmental offers a full suite of best-in-class emissions control products and solutions for utility and industrial steam generation applications around the world. The segment’s broad experience includes systems for ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control, along with cooling solutions.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to being awarded a contract to supply advanced, low-emissions cooling systems in South Korea, as well as growth opportunities in the Asia-Pacific region. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Chief Strategy Officer and Senior Vice President, Corporate Development
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations Lead
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Completion of Project Odyssey and ISO 9001:2015 Recertification Elevate MFG Standing
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--MFG Chemical, a global leader in specialty and custom chemical manufacturing, has achieved the Silver level, moving up from Bronze in Eco Vadis’ sustainability ranking program. MFG Chemical joined the Eco Vadis quality ranking system last year with the goal of achieving their Gold ranking.
Eco Vadis evaluates companies across 21 criteria based on four major themes: Environment, Ethics, Labor & Human Rights and Sustainable Procurement. Some of the leading companies participating in the Eco Vadis sustainability program include Coca Cola, P & G, Johnson & Johnson, Bayer and Nestle, to name a few.
Eco Vadis Ratings
The Eco Vadis assessment models measure 21 sustainability criteria across four themes:
Environment
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Labor and Human Rights
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Ethics
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Sustainable Procurement
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Joe Welch, MFG Chemical Vice President EHS&S declared, “MFG Chemical has worked hard to improve its sustainability ranking in the Eco Vadis program. Last year MFG employees underwent Eco Vadis training on all four of their sustainability themes. We also upgraded our pilot plant and all three of MFG’s custom chemical manufacturing plants under our Project Odyssey. Additionally, our three custom manufacturing plants were recertified ISO 9001: 2015 for the third consecutive year.”
MFG Chemical’s CEO Paul Turgeon added, “I’m pleased to see MFG Chemical moving up in Eco Vadis’ sustainability ranking program. This is a continuous improvement process, so our next goal is to achieve Eco Vadis’ Gold ranking. This program fits nicely with MFG Chemical’s work culture of customer satisfaction and quality.”
About MFG Chemical
MFG Chemical, LLC is a leading specialty and custom chemical manufacturer for a variety of global markets. The Company is headquartered in Chattanooga, TN, and operates three manufacturing facilities with world-class product development capabilities in Northwest Georgia.
Key chemistries include Dioctyl Sodium Sulfosuccinates (DOSS), Amides, Esters, Imidazolines, Rheology Modifiers Surfactants, Specialty Anhydrides and Water Soluble Polymers. In addition, the company recently upgraded its plants under Project Odyssey, received two SOCMA Awards for plant safety and process efficiency and was recertified for ISO 9001: 2015 Certification. For more information, visit www.mfgchemical.com.
Jon Amdursky
MFG Chemical
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HOUSTON--(BUSINESS WIRE)--Hess Midstream Operations LP (the “Issuer”), a consolidated subsidiary of Hess Midstream LP (NYSE: HESM) (“HESM” and, together with the Issuer, “Hess Midstream”), today announced that it intends to offer $400 million in aggregate principal amount of senior unsecured notes due 2030 (the “Notes”) in a private offering.
Hess Midstream intends to use the net proceeds from the offering to repay the borrowings under its revolving credit facility used to finance the previously announced repurchase by the Issuer of 13,559,322 Class B units from affiliates of Hess Corporation and Global Infrastructure Partners.
The Notes are being sold only to “qualified institutional buyers” in the United States pursuant to Rule 144A and outside the United States to non-U.S. Persons in compliance with Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Hess Midstream
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of U.S. securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. You should keep in mind the risk factors and other cautionary statements in the filings made by HESM with the U.S. Securities and Exchange Commission, which are available to the public. HESM undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
HOLZMINDEN, Germany--(BUSINESS WIRE)--The new market opportunities for environmentally friendly technology are boosting further training in the German heating trade: Stiebel Eltron alone trains around 5,000 participants a year at its locations in Hamburg, Frankfurt, Böblingen, Nuremberg, Oberhausen and Holzminden, as well as online. Even if the difference between boiler and heat pump installation is not serious, the company says: Some work steps are omitted, others are newly added. Getting to know the heat pump technology better and reducing fear of contact - that's what the seminar "Heat pump driving license" is all about, for example.
This ensures that the heating systems of the future are selected, installed and maintained properly.
"Since last autumn, we've experienced another massive increase in the rush to our seminar offerings," reports Jürgen Kijek, head of Stiebel Eltron's Energy Campus. "To meet the huge demand, we offer the training courses nationwide and have expanded the course system to include the online version 'Heat Pump Driving License' - and it's a real success."
Professionals training
Heating engineers who have so far mainly installed oil and gas systems are of course also basically very well equipped for heat pump installation. Nevertheless, the practice-oriented seminars make sense: "The Stiebel trainers are themselves trained heating engineers and accompany the course participants as they acquire the initial basic knowledge up to professional status. It's all about the quick, easy selection of a suitable complete system, the few differences compared to the installation of a gas or oil unit, the right steps to take during commissioning and how to prevent simple hydraulic or electrical errors," explains Jürgen Kijek. "At the end of the course, the graduates are perfectly prepared for the rapidly increasing customer demand for the environmentally friendly heating system heat pump."
Heat pump Know-how
The pace of changeover to environmentally friendly heating systems is accelerating. For specialist tradesmen, know-how in heat pump technology is now indispensable. Further information on the heat pump driving license can be found at: www.stiebel-eltron.de/seminare
About Stiebel Eltron
Stiebel Eltron is one of the world’s market leading suppliers of technology products for building services and green tech: STIEBEL ELTRON Group (stiebel-eltron.com)
econNEWSnetwork
Carsten Heer
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~Acquires Superyacht Management Company Based in the South of France~
~Strengthens Position as World’s Largest Superyacht Services Provider~
~Committed to Growing Higher Margin Businesses~
~Acquisition Expected to be Accretive in First Full Year~
CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that it has acquired Superyacht Management, S.A.R.L., better known as SYM. SYM is a superyacht management company based in Golfe Juan, France. The acquisition is expected to be accretive in its first full year.
SYM is being acquired by Northrop & Johnson, a superyacht brokerage and charter services business, which MarineMax acquired in 2020. SYM expands Northrop & Johnson’s service offerings by enabling it to enter the important yacht management business and more effectively serve its expanding base of superyacht clients, while also strengthening its new build construction capabilities.
W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, "The addition of SYM complements MarineMax’s ongoing diversification into a higher margin and global business. By adding SYM, the Company strengthens its commitment to providing exceptional customer service experiences across all superyacht service offerings, including buying, selling, insuring, building, crewing, and chartering. We are very excited that Ben Young MBE, founder of SYM, and his team with their many years of invaluable yacht management experience will join forces with Northrop & Johnson.”
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 79 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the acquisition being accretive and the related timing, and the post-closing management of SYM. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2021 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investors:
Michael H. McLamb
Chief Financial Officer
727-531-1700
Brad Cohen or Dawn Francfort
ICR, LLC
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Media:
Abbey Heimensen
MarineMax, Inc.
APG, Mainova join EIP’s coalition of industry leaders focused on advancing a sustainable energy future
NEW YORK, LONDON, AMSTERDAM & FRANKFURT, Germany--(BUSINESS WIRE)--Energy Impact Partners (EIP), a global venture capital firm leading the transition to a sustainable future, announced today APG Asset Management (APG) and Mainova AG (Mainova) joined the firms’ growing global coalition of industrial partners, which consists of European energy utilities and global financial asset managers. EIP works with its strategic partners in a proprietary model to find, screen and scale technologies that are critical for the global net zero carbon economy. In collaboration with its partner network, EIP shares insights, invests in innovative businesses and stimulates the growth of its portfolio companies.
“Our coalition is focused on accelerating the net zero carbon economy and adding strategic partners such as APG and Mainova are critical to the mission,” said Matthias Dill, CEO & Managing Partner at Energy Impact Partners Europe. “We are thrilled to welcome both companies to our expanding platform and look forward to working with them to scale the key technologies critical for a cleaner future. We thrive on the strength of our network and APG and Mainova will add further leverage to our efforts.”
APG and Mainova join a diverse group of industry leaders across the energy, mobility and sustainability industries including Nysnø Climate Investments, EWE, Galp and the Microsoft Climate Innovation Fund. Their participation in EIP’s global coalition furthers both companies’ commitments and strategies to contribute to innovation and reduce their carbon footprint. APG will join EIP’s ESG advisory board and Mainova will play an active role in the coalition.
“APG is committed to the energy transition in several ways and endorses the importance of long term partnerships such as with EIP’s global coalition. APG’s commitment will contribute to the impact growth of companies relevant to the energy transition thereby contributing to fulfilling society’s urgent need and ambition to become carbon neutral. APG is therefore pleased to formally announce its commitment to EIP,” said Nienke Vledder, Senior Portfolio Manager Private Investments.
“As the leading energy supplier in the Frankfurt metropolitan region, Mainova is constantly looking for new energy solutions that help our clients to become carbon neutral. EIP provides us with intelligent food for thought as well as early access to promising ideas and founders. We are looking forward to taking an active part in EIP’s coalition and to collaborating with innovative startups. They will help us and our customers to successfully get through the energy transition,” said Mainova CEO Dr. Constantin H. Alsheimer.
“EIP has for instance introduced us to Instagrid, a provider of portable power stations. Together with the startup, we have successfully tested their battery power packs. They can replace diesel gensets and thus reduce the carbon footprint of our DSO and street lighting business,” added Simon Wisseler, Senior Project Manager Corporate Strategy and Venture Capital at Mainova.
For more information on EIP, please visit www.energyimpactpartners.com.
About Energy Impact Partners
Energy Impact Partners LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.5 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of nearly 70 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit www.energyimpactpartners.com.
About APG
Every day APG is busy with something that already concerns millions of Dutch people and one day will concern millions more: pensions. APG strives to provide a good pension in a livable world for all participants, employers and pension funds. Together we work on a sustainable future in which we do not only look at prosperity, but also at well-being. Because pensions are about people, life and how we live together. So that we, our parents, and our children can enjoy a good income. Today, tomorrow, and beyond. As the largest pension provider in the Netherlands APG looks after the pensions of 4.7 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €605billion (February 2022) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.
About Mainova
Mainova is one of the largest regional energy suppliers in Germany and supplies about one million customers in Hesse and neighboring provinces with electricity, gas, district heating and water. Mainova also provides a wide range of energy-related products and services in areas like renewable energy, energy efficiency and e-mobility. Mainova generated around € 2.3 billion in annual revenue in 2020 with approximately 2,900 employees. Mainova was founded in 1998 and is headquartered in Frankfurt am Main, Germany.
Tori McDonnell
Silverline Communications – on behalf of EIP
703-338-2362
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Thomas Kögler
Mainova AG
+49 (0)69 213 23541
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BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has been awarded a contract by Newport News Shipbuilding (NNS) to provide essential parts through Hunt Valve for the Ford Class aircraft carriers CVN 78 – CVN 81. The contract, valued at approximately $2 million, covers parts that will be delivered during the second and third quarters of 2022. Hunt Valve, acquired by Fairbanks Morse Defense in 2021, manufactures valves and electromechanical actuators for naval defense applications.
This contract reinforces FMD’s position as a critical supplier to its core naval defense customers. Having traditionally been a naval engine supplier, Fairbanks Morse Defense has expanded into a single-source product and service solutions provider for the entire vessel. Over the last 18 months, the defense contractor has been acquiring a number of companies, including Hunt Valve, and currently offers a large array of best-in-class marine technologies, OEM parts and turnkey services for the entire vessel to ensure Navy and Coast Guard fleets are always mission ready.
“Every ship and every shipyard play a crucial role in advancing American interests and countering our rivals at sea. Fairbanks Morse Defense and our sub-brands are deeply committed to supporting our country’s critical naval operations with American-made OEM parts throughout the ship,” said FMD CEO George Whittier. “In light of the post-pandemic supply chain challenges and uncertainty about the war in Ukraine, NNS is being extremely prudent by stocking the parts necessary.”
Earlier this year, Vice Admiral Roy Kitchener, commander of naval surface forces, spoke with maritime defense industry leaders about the need for prioritizing ship maintenance and crew training to ensure fleets are fully mission-capable. This vital initiative includes analyzing the Navy’s current and projected requirements for maintenance, spare parts and labor. By streamlining maintenance services, parts and labor through a single provider such as Fairbanks Morse Defense, the Navy will be able to accomplish this goal while reducing time and costs.
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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FRANKFURT, Germany & VIENNA--(BUSINESS WIRE)--RIDDLE&CODE Energy Solutions, a 50:50 joint venture between Wien Energie and RIDDLE&CODE, has joined the 2Tokens consortium as a founding member for the Energy Token working group. After having been an associated partner since 2020, the company’s decision to become an active contributor is a consequent step on its path to developing an international service portfolio.
The main goal of the collaboration is to turn 2Tokens into the leading European consortium in the industrial blockchain and finance space, representing and supporting the most relevant projects. "We have proven the technical and economic viability of tokenizing energy assets in several individual projects at the regional level. Now it is time to think on a larger scale. The token standards being developed at 2Tokens will most likely have a decisive impact on the future standards of the European energy market,” says Kai Siefert, the newly appointed managing director of RIDDLE&CODE Energy Solutions.
“The joining of a true pioneer such as RIDDLE&CODE Energy Solutions will significantly strengthen European collaboration in the tokenization sector,” underlines Alex Bausch, Executive Chairman of 2Tokens. “RIDDLE&CODE Energy Solutions plays an important role in the adoption of tokenization technology in commercial projects with interoperable banking grade solutions. Our working groups on the EURO stable coin and Energy Tokens are paramount to the joint mission for mass adoption of token technology in the energy industry. “
Next steps: Apart from driving things forward in the 2Tokens working groups, leading 2Tokens members, as well as the RIDDLE&CODE group companies, will discuss commercial partnerships in the areas of Custody of Digital Assets, Tokenization platforms and blockchain hardware research. "For critical infrastructures and in order to turn our European values of democratic governance and the Rule of Law into efficient backend solutions, we need infrastructure that is secure from end-to-end. Crypto hardware anchors will play a key role in this, and that's why 2Tokens is excited to have RIDDLE&CODE joining as the leading European blockchain interface company,” says Jos Röling, Captain of the Energy working group.
About RIDDLE&CODE Energy Solutions
RIDDLE&CODE Energy Solutions provides the blockchain-powered infrastructure that enables resilient, decentralized and fully decarbonized energy markets. With the development of the MyPower platform, the company has shown an effective way for energy players to move into the machine economy. By tokenizing energy, machines, and data, RIDDLE&CODE Energy Solutions significantly increases the liquidity of distributed assets, making them easily accessible to broad investor segments, while their output can be traded and tracked with unprecedented transparency and security.
More information about MyPower: www.riddleandcode.com/energy
About 2Tokens
2Tokens has the ambition to raise awareness, stimulate relevant discussions, and bring together knowledge/expertise to reduce the barriers to the adoption of tokenization and help realise wider social benefits. The mission of 2Tokens is to formulate a guide, as part of a larger vision, for any type of organisation that wants to leverage token technology. It aims to come to a shared understanding of token finance and, as such, is a public-interest initiative supported by a diverse community of technology companies, policymakers, financial advisors, banks, and legal & regulatory experts and academia. 2Tokens is a non-profit organisation funded in part by the European Union and Industry partners with the endorsement of the Erasmus University Rotterdam, government and several industry players.
More information: www.2tokens.org
Nataša Gudelj
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HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Expro Group Holdings N.V. (“Expro” or the “Company”) (NYSE: XPRO) today announced the publication of its 2021 Environmental, Social, and Governance (ESG) Report, which provides transparency on the Company’s performance and establishes Expro’s near- and long-term ESG priorities. The report can be viewed and downloaded on the Company's website.
“Promoting ESG is an integral part of our culture and mission and woven into all aspects of our business,” said Mike Jardon, Chief Executive Officer of Expro. “In 2021, we brought together Frank’s International and Expro to create a leading full-cycle energy services company and advance our shared desire for creating a more sustainable business and better future for our employees, customers and communities. Our 2021 ESG report outlines the significant steps we are taking toward this goal, including our goal to reach net zero carbon emissions by 2050. We are focused on building on our policies for the energy transition while fostering a rich culture that celebrates diversity and emphasizes the health, safety and wellbeing of our global Expro team.”
“We recognize the role Expro can play in creating a more sustainable world,” said Karen David-Green, Chief Communications, Stakeholder & Sustainability Officer of Expro. “The policies and objectives in our ESG report are our guiding light to achieve our potential and help our customers and communities advance down the path toward a lower carbon future. Our people are at the heart of our success, and we want to empower them to innovate, execute, and grow to embody our core values and unlock the true power of the Expro platform for the benefit of all stakeholders.”
Highlights of Expro’s 2021 ESG report include:
About Expro
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.
With roots dating to 1938, Expro has more than 6,600 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s environmental, social and governance goals, targets and initiatives, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
Investor contact:
Karen David-Green – Chief Communications, Stakeholder & Sustainability Officer
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+1 281 994 1056
Media contact:
Hannah Rumbles – Global Marketing and Communications Manager
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+44 1224 796729
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