LONDON--(BUSINESS WIRE)--$loco #cleannergy--LocoSoco Group Plc (“LocoSoco”, “LOCO”), the platform that profits from distributing products & technologies that contribute to sustainability and is listed on the Direct Market segment of the Vienna MTF, is pleased to announce discussions are underway with Proton Technologies, a leader in the field of Clean Hydrogen Production that utilises existing fossil fuel infrastructure.
LocoSoco is listed on the Direct Market segment of the Vienna MTF. For quotes and trading data, link here: https://www.wienerborse.at/en/market-data/shares-others/quote-direct/?ISIN=GB00BD5BTL23&ID_NOTATION=246035708&cHash=96818d4943bd602c7947d54b3503cb6f
Proton Technologies
Proton Technologies “Clear Hydrogen'' is a carbon-free, low-cost opportunity for extracting hydrogen using previously expensed infrastructure and known energy deposits. Operating for over 6 years and holding patented technology for the extraction of clean hydrogen whilst sequestering carbon within existing oil wells. Proton Technologies has the experience and technology to effect change on a global scale whilst profiting with purpose. Part of this includes the production of clean hydrogen and generating carbon credits to underpin further investment into the transition from dirty energy sources to sustainable low cost energy solutions.
LocoSoco CEO James Perry commented, "Having been in conversation with the team at Proton Technologies over the past year, we are excited to potentially deliver further opportunities for commercialising Proton’s patented technologies. At LocoSoco we get to see a wide range of game changing technologies coming to market that serve to increase the value that we bring to our client base, our partners and future customers who are looking to transition to sustainable alternatives. Clean Hydrogen Energy in my opinion is the future of land, air and sea transportation and the opportunities it presents are on a global scale.”
About LocoSoco
LocoSoco delivers products and technologies that contribute to economic and environmental sustainability, working within sectors including retail, hospitality, corporate and government organisations.
Enquiries:
LocoSoco Group PLC
James Perry, Chief Executive Officer
Simon Rendell, Non-Executive Chairman
+44 (0)203 154 9300
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Alan Green
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The agency will represent Current’s DOT and municipality lighting in the largest state in America.
CLEVELAND--(BUSINESS WIRE)--GE Current, a Daintree company has chosen Arctic Sales to carry its LED lighting and controls solutions for DOT and municipality applications in Alaska.
Arctic Sales is a leading agency that represents manufacturers within the commercial, architectural, industrial and roadway lighting industries. With over 25 years of experience, their team helps their lighting customers to not only save money and time, but also stay within their budget. They will also cover the breadth of Hubbell’s C&I Lighting business, which Current officially acquired back in February.
“We are excited to be partnering with Arctic Sales and have them cover our DOT and municipality verticals,” said Matt Webster, Northwest Region Utility/Roadway Sales Manager at Current. “They’re a well-respected agency in the state of Alaska. Because Arctic Sales already represents Hubbell’s C&I business, it made perfect sense for them to cover Current’s roadway portfolio as well. The resulting synergy will bring continuity and simplification to the marketplace.”
With the number of choices and decisions facing lighting architects continuously growing, the Arctic Sales team helps guide their customers towards a complete solution that’s the best fit for them. They know lighting and controls technologies are changing seemingly every few months, that’s why they leverage their 25 plus years of experience to help their customers adapt to the ever-evolving lighting industry.
“We are excited to continue to serve Alaska and strengthen the roadway market through our years of Valmont partnership,” said Robert Schnell, principal of Arctic Sales. “The timing couldn’t have been better to represent a manufacturer completely focused on their roadway solutions.”
About GE Current, a Daintree company:
Current enhances commercial and industrial facilities, cities, greenhouses and all spaces in between with advanced lighting and intelligent controls. Working with our partners, we deliver the best possible outcomes for our customers. See why Current is always on at www.gecurrent.com.
About Arctic Sales:
Lighting can be a complicated and confusing language. Arctic Sales works to make lighting simple. Arctic Sales exists to empower their customers to win and to grow their business by providing industry leading lighting and controls solutions to Alaska. Visit the Arctic Sales website to learn more.
Media
Jim Benson
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216-534-4155
The Low Carbon-developed wind farm in Finland will increase Ecolab's global renewable energy sourcing to nearly 80%
ST. PAUL, Minn.--(BUSINESS WIRE)--Ecolab Inc., the global leader in water, hygiene and infection prevention solutions and services, today announced the signing of a virtual power purchase agreement that will support the construction and operation of a five-turbine wind farm on the west coast of Finland.
The Mörknässkogen wind farm, developed by renewable energy investment and asset management firm Low Carbon, will produce approximately 100GWh of renewable energy each year, or enough energy to power more than 29,000 homes. It will reduce potential greenhouse gases by an estimated 20,900 tonnes and cover 100% of the electricity Ecolab uses to power all European sites including 15 major offices, 26 manufacturing facilities and seven RD&E centers. The wind farm is expected to begin operations by the end of 2023. The project is a further demonstration of how Ecolab is delivering on bold sustainability goals.
“At a time of increased scrutiny for energy use and net zero commitments, we are proud to be investing in renewable options that are good for both Ecolab’s business and our planet,” said Ecolab Chief Sustainability Officer Emilio Tenuta. “Many of Ecolab’s more than 47,000 associates globally are supporting our customers on their net zero transition, and this agreement provides a tangible example of how to move from commitment to action.”
“We are pleased to partner with a global sustainability leader in Ecolab to bring additional renewable energy infrastructure to Finland's already sought-after renewable power mix,” said John Graves, CIO of the Low Carbon Renewables Fund. “The Mörknässkogen wind project shows how forward-thinking companies can deliver real impact when we work together advance a sustainable future.”
Today’s announcement builds on a 2018 Ecolab investment, which added enough renewable energy sources to cover 100% of the company’s operations across North America. Combined, the two agreements will now allow Ecolab to source nearly 80%, up from 58%, of its power from renewable sources and deliver a significant step toward the company’s goal of achieving 100% renewable electricity globally by 2030. This progress puts Ecolab well ahead of schedule to meet renewable energy guidelines outlined by RE100, a global corporate initiative focused on achieving 100% renewable electricity by 2050, of which Ecolab is a member.
For more information on Ecolab’s 2030 Impact Goals and progress to date, visit www.ecolab.com/corporate-responsibility/2030-Impact-Goals. For more information on Ecolab’s commitment to operating sustainably, visit ecolab.com/corporate-responsibility.
About Ecolab
A trusted partner at nearly three million customer locations, Ecolab (ECL) is the global leader in water, hygiene and infection prevention solutions and services that help protect people, planet and business health. With annual sales of $13 billion and more than 47,000 associates, Ecolab delivers comprehensive science-based solutions, data-driven insights and world-class service to advance food safety, help maintain clean and safe environments, optimize water and energy use, and improve operational efficiencies and sustainability for customers in the food, healthcare, hospitality and industrial markets in more than 170 countries around the world. www.ecolab.com
Follow us on LinkedIn @Ecolab, Twitter @Ecolab, Instagram @Ecolab_Inc and Facebook @Ecolab.
About Low Carbon
Low Carbon is a leading renewable energy investment and asset management platform committed to the development and operation of renewable energy at scale. Low Carbon invests into both renewable energy developers and projects across a range of renewable energy technologies including solar PV, wind, energy storage, waste-to-energy and energy efficiency. Low Carbon, a certified B Corp, has a proven track record in the development, construction, financing and management of renewable energy assets and remains involved in the projects for the long term with a dedicated asset management team that manages assets on balance sheet and for third parties. With a significant international renewable energy pipeline in development, Low Carbon are well-positioned to capitalise on opportunities as the need for renewable energy and energy security increases. www.lowcarbon.com
(ECL-C)
Kyle Kapustka
Ecolab Media Relations
612-708-4304
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--OPAL Fuels LLC, a vertically integrated producer and distributor of renewable natural gas (RNG), today announced Hugh Donnell has joined the company as its Senior Vice President of Business Development and Sustainability. In this new role, Mr. Donnell will help lead OPAL Fuels’ efforts to transition fleets to net-zero now solutions that drive cost savings and support their Environmental, Social and Governance (ESG) goals and objectives.
Mr. Donnell will lead an outreach program to fleets with proven, lower operating cost, clean technologies that are available at scale today. He will also assist in developing strategic partnerships with equipment suppliers and other channel partners to drive further adoption of RNG as a transportation fuel. In addition, Mr. Donnell will represent OPAL Fuels at industry trade organizations, host key sustainability events, and help coordinate regulatory relations efforts.
“At OPAL Fuels, we are focused on helping fleets navigate their decarbonization goals while also saving significantly on their total cost of operations – RNG can do that today,” said Adam Comora, Co-CEO of OPAL Fuels. “We welcome Hugh to the team and are excited about the experience and capabilities he brings that will help grow our company through the increased adoption of renewable natural gas and, in the future, green hydrogen produced from RNG.”
Mr. Donnell brings to OPAL Fuels three decades of sales growth and management experience at Cummins, an industry leader in clean, reliable, renewable natural gas engines. In his most recent role at Cummins Westport, reporting to the President of CWI Joint Venture, he was responsible for the business growth and market development of renewable natural gas engines, which included working closely with state and federal government air quality agencies. Additionally, Mr. Donnell brings extensive experience in and a thorough understanding of alternative technologies for on-highway goods movement.
“I look forward to collaborating with the team at OPAL Fuels to advance RNG adoption as a ‘right now’ sustainability solution with renewable natural gas engines and future technologies powered by green hydrogen,” said Mr. Donnell. “The team’s depth and breadth of expertise to execute on a robust pipeline of RNG projects is core to our ability to meet the fast-growing demand for cost-effective, low- and ultra-low carbon renewable fuel solutions.”
RNG is an abundant and proven low-cost, low-carbon fuel, chemically identical to the natural gas Americans use to cook and heat their homes, with one critical difference: it's not a fossil fuel pumped from the ground. Instead, RNG is created by capturing and purifying methane emissions from decomposed organic matter created by landfill and animal waste.
About OPAL Fuels LLC
OPAL Fuels LLC, a Fortistar portfolio company, is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (RNG) for the heavy-duty truck market. RNG is a proven low-carbon fuel that is rapidly decarbonizing the transportation industry now while also significantly reducing costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. OPAL Fuels also develops and constructs RNG and hydrogen fueling stations. As a producer and distributor of carbon-reducing fuel for heavy-duty truck fleets for more than a decade, the company delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL Fuels and how it is leading the effort to capture North America's harmful methane emissions and decarbonize the transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.
OPAL Fuels also previously announced an agreement for a business combination with ArcLight Clean Transition Corp. II (Nasdaq: ACTD) (“ArcLight”), which is expected to result in OPAL Fuels becoming a public company listed on the Nasdaq Stock Exchange in second quarter of 2022, subject to customary closing conditions.
Additional Information
ArcLight has filed with the SEC a Registration Statement on Form S-4 (as amended, the “Registration Statement”), which includes a preliminary proxy statement/prospectus of ArcLight, in connection with the proposed merger transaction (the “Business Combination”) involving ArcLight and OPAL Fuels. After the Registration Statement is declared effective, ArcLight will mail a definitive proxy statement/prospectus and other relevant documents to stockholders of ArcLight as of a record date to be established for voting on the Business Combination. ArcLight’s stockholders and other interested persons are advised to read, the preliminary proxy statement/prospectus, and amendments thereto, and, when available, the definitive proxy statement/prospectus in connection with ArcLight’s solicitation of proxies for its stockholders’ meeting to be held to approve the Business Combination because the proxy statement/prospectus will contain important information about ArcLight, OPAL Fuels and the Business Combination. Stockholders will also be able to obtain copies of the Registration Statement, without charge, once available, at the SEC’s website at www.sec.gov. In addition, the documents filed by ArcLight may be obtained free of charge from ArcLight at https://www.arclightclean.com or by directing a request to: ArcLight Clean Transition Corp. II, 200 Clarendon Street, 55th Floor, Boston, MA 02116.
Participants in the Solicitation
ArcLight, OPAL Fuels and their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of ArcLight’s shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of ArcLight’s directors and officers, and OPAL Fuels’ directors and executive officers, in ArcLight’s filings with the SEC, including the Registration Statement.
Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements. Forward-looking statements are statements that are not historical facts and generally relate to future events or ArcLight’s or the OPAL Fuels’ future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements, including the identification of a target business and a potential business combination or other such transaction are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by ArcLight and its management, and OPAL Fuels and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Registration Statement and other filings with the Securities and Exchange Commission (SEC), as well as (1) the inability to complete the proposed transaction; (2) factors associated with companies, such as OPAL Fuels, that are engaged in the production and integration of renewable natural gas (RNG), including anticipated trends, growth rates, and challenges in those businesses and in the markets in which they operate; (3) macroeconomic conditions related to the global COVID-19 pandemic; (4) the effects of increased competition; (5) contractual arrangements with, and the cooperation of, landfill and livestock waste site owners and operators, on which OPAL Fuels operates its landfill gas and livestock waste projects that generate electricity and RNG prices for environmental attributes, low carbon fuel standard credits and other incentives; (6) the ability to identify, acquire, develop and operate renewable projects and RNG fueling stations; (7) the failure to realize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (8) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete the proposed transaction; (9) the outcome of any legal proceedings that may be instituted in connection with the proposed transaction; (10) the amount of redemption requests made by ArcLight’s public shareholders; and (11) the ability of the combined company that results from the proposed transaction to issue equity or equity-linked securities or obtain debt financing in connection with the transaction or in the future. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Both ArcLight and OPAL Fuels expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in ArcLight’s or OPAL Fuels’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities or the solicitation of any vote in any jurisdiction pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Media
Jason Stewart
Senior Director Public Relations and Marketing
914-421-5336
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ICR, Inc.
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CALGARY, Alberta--(BUSINESS WIRE)--#CO2--The Kopahawakenum (Cree for “Kicking up the dust”) 15-Megawatt Flare Gas to Power Facility announced by SaskPower, Flying Dust First Nation, and Genalta Power, online 2023, plans to purchase Flare Gas from Proton Canada’s nearby asset, according to a letter of intent recently signed between the CEO of Genalta, Paul Miller, and the CEO of Proton, Grant Strem.
To ensure sufficient supply for the Kopahawakenum Facility, plus Proton’s own 4.2 MW Power Purchase Agreement and other off-takers, the plan is to install a Cryogenic Air Separation unit (ASU), for injecting pure oxygen and third-party CO2 into Proton’s underground oil deposit to increase hydrogen-productive reactions.
Cold gases from the ASU can separate produced gases by freezing or liquifying these at various cold temperatures at the surface using passive heat exchange. Unwanted components like CO2 are planned to go back into the ground, where reactions can cause them to solidify into forms like carbonate rock. Proton has been demonstrating their patented method for accelerating carbonate creation within pores in the earth, by injecting steam boiler blow-down (reactive waste stream fluid) into their CO2-rich subsurface environment.
Proton’s PPA has final approval and plans and designs for construction are underway. Genalta’s Kopahawakenum PPA is conditionally approved under Saskatchewan’s Oil and Gas Processing Investment Incentive (OGPII), and the Saskatchewan Petroleum Innovation Incentive (SPII), which provide royalty credits at a rate of 15% and 25% of expenses respectively, after the private investments are made.
Grant Strem said, “I want to thank Genalta, the government of Saskatchewan, the First Nations Power Authority, and the Flying Dust First Nation for boldly and creatively enabling improvements over our current energy systems. There will be economic and ecological benefits from this first project, and we believe also from hundreds or even thousands of larger similar projects around the world in the long course of time, thanks to the efforts and investments of those involved in this global first. Proton is very pleased to have Genalta as our creative, positive customer. This flex-fuel offtake deal helps justify and enable a “small enough to be fast” commercial demonstration of core elements of Proton’s method to produce low cost hydrogen while sequestering carbon inside the earth as rock. Many oil assets late in their productive life cycle can be repurposed to make clean energy, leveraging the infrastructure and investments of the past. We plan to expand as fast as we can afford to.”
Paul Miller said, “Kopahawakenum is a cornerstone project that will help the energy industry in Saskatchewan to meet the goals announced by the federal government to reduce GHG emissions 30% in the industry by 2030. Additionally it will be including First Nations in energy stewardship in the province in a meaningful way, creating long term jobs and a replicable approach to utilizing Flare and Vent Gas for power generation. Proton’s fuel supply is critical for the Kopahawakenum project. We thank Proton for their collaboration and support; their visionary project is a game changer in the energy industry with tremendous potential to provide large quantities of emissions free fuel at an economical price to the global market. We are proud to be working with them to further reduce emissions in Saskatchewan and hope to utilize their clean Hydrogen in the future as we continue to expand our clean power base in the province.”
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Grant Strem
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EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary first quarter 2022 earnings results after the market close on Tuesday, May 3, 2022, followed by a conference call at 10:00 a.m. CT on Wednesday, May 4, 2022. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Investor Relations Analyst
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NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, today announced the appointment of Oscar Brown to the position of Group Chief Financial Officer (“CFO”) at FREYR Battery.
As CFO, Brown will report to FREYR’s Chief Executive Officer, Tom Einar Jensen, and will be responsible for financial planning, performance, reporting, and capital markets engagement across the organization. He will assume his new position at FREYR effective immediately.
“We are delighted to welcome Oscar to the FREYR executive leadership team. As we prepare to execute our strategic plan to establish clean battery production at giga scale in Norway, the U.S. and Finland, Oscar’s deep capital markets acumen and industry experience will be invaluable to support the next phase of FREYR’s development,” said Tom Einar Jensen, CEO of FREYR. “Our geographical expansion and growth plans along the battery value chain will require significant financing efforts. Oscar’s experience in large scale financing, M&A, and deep corporate development expertise in the energy space will continue to strengthen our financial capacity as we evolve into a global organization.”
Brown comes with more than 30 years of energy industry experience, having most recently been Senior Vice President of Strategy, Business Development and Supply Chain for Occidental Petroleum Corporation. Prior to joining Occidental in 2016, he held positions of increasing responsibility as an investment banker with CS First Boston, Lehman Brothers, Barclays Capital, and Bank of America Merrill Lynch, where he was co-head of Americas Energy Investment Banking. He is a board member and chairs the ESG Committee of Western Midstream Partners LP (NYSE: WES) and is a past director of Plains All-American Pipeline LP (NYSE: PAA) and Plains GP Holdings LP (NYSE: PAGP). Brown holds a bachelor’s degree in Business Administration, Finance and Marketing from the University of Texas at Austin.
“Oscar brings FREYR extensive capital markets experience as a public company executive, board member and former investment banker. He has executed more than $300 billion of capital markets and M&A transactions over the course of his career,” said Torstein Dale Sjøtveit, Executive Chairman and Founder of FREYR.
“I am very excited to be joining FREYR at such a dynamic time in the battery industry. I look forward to working with our team to shape FREYR’s capital formation and strategic positioning as we advance our ambition to build a global clean battery champion and create value for all our stakeholders,” said Oscar Brown.
In conjunction with Brown’s appointment as Group CFO, Steffen Føreid is released from the tasks pertaining to the FREYR Group CFO position but will continue in the position as CFO for FREYR Battery Norway AS until the closing of Q1 2022.
“Steffen has been an integral member of our executive management team,” said Jensen. “Steffen is a financial heavy-weight, and I have deep appreciation and high regard for his counsel and leadership in building the financial foundation of FREYR Battery as a publicly listed company. I am grateful for what Steffen has contributed during his time with us, steadily steering the company’s financial strategy and processes, and building a strong financial team.”
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028. To learn more about FREYR, please visit www.freyrbattery.com
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding (i) FREYR’s ability to execute its strategic plan to establish clean battery production at giga scale in Norway, the U.S. and Finland, (ii) FREYR’s geographical expansion and growth plans along the battery value chain and (iii) the ability of Mr. Brown’s experience in large scale financing, M&A and deep corporate development in the energy space to strengthen FREYR’s financial capacity as it evolves into a global organization are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-1 initially filed with the Securities and Exchange Commission (the "SEC") on August 9, 2021, as amended, and in other SEC filings available on the SEC’s website at www.sec.gov.
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals. The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day starting in 2025.
“Yellowtail’s development further demonstrates the successful partnership between ExxonMobil and Guyana, and helps provide the world with another reliable source of energy to meet future demand and ensure a secure energy transition,” said Liam Mallon, president of ExxonMobil Upstream Company. “We are working to maximize benefits for the people of Guyana and increase global supplies through safe and responsible development on an accelerated schedule.”
Yellowtail production from the ONE GUYANA floating production storage and offloading (FPSO) vessel will develop an estimated resource of more than 900 million barrels of oil. The $10 billion project will include six drill centers and up to 26 production and 25 injection wells.
ExxonMobil’s ongoing offshore exploration in Guyana has discovered a recoverable resource of more than 10 billion oil-equivalent barrels. The company anticipates up to 10 projects on the Stabroek Block to develop this resource.
Development of projects and continued exploration success offshore are enabling the steady advancement of Guyanese capabilities and enhanced economic growth. More than 3,500 Guyanese are supporting ExxonMobil’s activities in Guyana, an increase of more than 50% since 2019. ExxonMobil and direct contractors have spent more than $600 million with more than 880 local suppliers since 2015. More than 3,000 Guyanese companies are registered with the Centre for Local Business Development, which was founded by ExxonMobil and its co-venturers in 2017 to build local business capacity and support global competitiveness.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; reservoir performance; the outcome of future exploration efforts; timely completion of development and construction projects; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K and quarterly reports on Form 10-Q. References to “recoverable resources,” “oil-equivalent barrels,” and other quantifies of oil and gas include estimated quantities that are not yet classified as proved reserves under SEC definitions but are expected to be ultimately recoverable. The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
ExxonMobil Media Relations
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IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Japan Bank for International Cooperation (JBIC), through Japan NuScale Innovation, LLC, a special purpose investment entity that also includes JGC Holdings Corporation (JGC) and IHI Corporation (IHI), has purchased a preferred equity position in NuScale Power, LLC, (NuScale) for $110 million from Fluor and other existing NuScale investors. The transaction is based on an approximate $1.9 billion equity valuation for NuScale.
Following the sale and the currently pending merger of NuScale with Spring Valley Acquisition Corporation, Japan NuScale Innovation, LLC, is expected to hold approximately 8 to 9 percent of NuScale. Fluor will continue to hold a majority interest in NuScale and assist in achieving full commercialization and perform work to advance the Carbon Free Power Project in Idaho.
“This strategic investment by JBIC, together with previous Japanese investments by JGC and IHI, further validates the successful 11-year, $1.3 billion private-public partnership of Fluor, NuScale and the U.S. Department of Energy,” said David Constable, chief executive officer, Fluor. “The newly-formed Japanese private-public partnership, along with other strategic investors, provides a strong financial and execution-ready platform for the widespread deployment of safe, affordable, carbon-free energy solutions.”
The United States and Japan launched the U.S.-Japan Climate Partnership and the U.S.-Japan Competitiveness and Resilience Partnership. These cooperation agreements, confirmed on April 16, 2021, include the importance of advanced energy technologies such as small modular reactors as a vital component to a clean energy future.
These important cooperation agreements have helped to strengthen commercial partnerships, resolve market barriers, support economic growth, job creation, and energy security, and improve research and development to promote innovative reactor technology development. They serve as a foundation for United States-Japan nuclear energy cooperation and reaffirm the strong history of collaboration between the United States and Japan on nuclear energy issues.
Fluor has been serving the nuclear industry for more than 70 years, having provided design and construction support for more than 25 nuclear plants, and nearly 100 million hours of nuclear operations and maintenance work.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.
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Brian Mershon
Media Relations
469.398.7621
Jason Landkamer
Investor Relations
469.398.7222
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today announced it has made a final investment decision to proceed with development of Yellowtail offshore Guyana after receiving government and regulatory approvals. Yellowtail, the fourth oil development and the largest on the Stabroek Block, is expected to produce approximately 250,000 gross barrels of oil per day starting in 2025.
Yellowtail will utilize the ONE GUYANA floating production, storage and offloading vessel (FPSO), which will develop an estimated resource base of approximately 925 million barrels of oil. Six drill centers are planned with up to 26 production wells and 25 injection wells.
Hess’ net share of development costs, excluding pre-sanction costs and FPSO purchase cost, is forecast to be approximately US$2.3 billion, of which approximately US$210 million is expected in 2022, US$430 million in 2023, US$585 million in 2024, US$390 million in 2025 and US$295 million in 2026.
“We are excited to sanction our fourth oil development and the largest FPSO to date on the Stabroek Block,” CEO John Hess said. “We look forward to continuing to work with the Government of Guyana and our partners to realize the remarkable potential of this world class resource for the benefit of all stakeholders. The world will need these low cost oil resources to meet future energy demand and help ensure an affordable, just and secure energy transition.”
The Liza Phase 1 development, utilizing the Liza Destiny FPSO, began production in December 2019; its production capacity is expected to increase to more than 140,000 gross barrels of oil per day following production optimization work currently under way. The Liza Phase 2 development, utilizing the Liza Unity FPSO, began production in February 2022 and is expected to reach its production capacity of 220,000 gross barrels of oil per day later this year as operations are safely brought online. The third development on the block at Payara is on track for production startup in 2024, utilizing the Prosperity FPSO with a production capacity of approximately 220,000 gross barrels of oil per day.
At least six FPSOs with a production capacity of more than 1 million gross barrels of oil per day are expected to be online on the Stabroek Block in 2027, with the potential for up to 10 FPSOs to develop gross discovered recoverable resources of more than 10 billion barrels of oil equivalent.
The Stabroek Block is 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on is available at www.hess.com.
Cautionary Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. Our forward-looking statements may include, without limitation, the expected number, timing and completion of our development projects and estimates of capital and operating costs for these projects; estimates of our crude oil and natural gas resources and levels of production; and our future financial and operational results. Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. 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. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices or demand for crude oil, NGLs and natural gas, including due to COVID-19, competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions, and in achieving expected production levels; changes in laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring, fracking bans as well as restrictions on oil and gas leases; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures which we may not control and exposure to decommissioning liabilities for divested assets in the event the current or future owners are unable to perform; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; potential disruption or interruption of our operations due to catastrophic events, including COVID-19 or climate change; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the oil and gas disclosures in Hess Corporation’s Form 10-K, File No. 1-1204, available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our website at www.hess.com. You can also obtain this form from the SEC on the EDGAR system.
Investor Contact:
Jay Wilson
(212) 536-8940
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Media Contact:
Lorrie Hecker
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MIDLAND, Texas--(BUSINESS WIRE)--On March 31, 2022, ProPetro Services, Inc. (“ProPetro” or the “Company”), a wholly-owned subsidiary of ProPetro Holding Corp. (NYSE: PUMP), entered into an Amended and Restated Pressure Pumping Services Agreement (the “Amended Agreement”) with Pioneer Natural Resources USA, Inc. (“Pioneer”), a wholly-owned subsidiary of Pioneer Natural Resources Company (NYSE: PXD), pursuant to which ProPetro will provide pressure pumping services to Pioneer.
ProPetro entered into a Pressure Pumping Services Agreement with Pioneer in 2018 in connection with its acquisition of Pioneer’s pressure pumping services assets. Since that time, ProPetro and Pioneer have worked collaboratively to improve completions performance in the Permian Basin, achieving industry-leading results. The Amended Agreement provides for updated performance standards, operating procedures, pricing, and term. The Amended Agreement is effective as of January 1, 2022, will terminate on December 31, 2022, and may be extended through 2023.
ProPetro’s Chief Executive Officer, Sam Sledge, commented, “On behalf of the ProPetro team, we are excited to continue and progress our relationship with Pioneer to reflect our shared and relentless commitment to efficient and safe operations in the Permian Basin. As operating standards of both companies have increased over the life of our unique collaboration, this amendment memorializes those changes. We are thankful for a partner like Pioneer that has and continues to entrust us with a significant component of their completions operations. We also look forward to enhancing our relationship into the future as ProPetro expands its next-generation equipment offering and continuously improves reliable completions performance that Pioneer and our other valued customers have come to expect. Finally, I’d like to thank all of our ProPetro teammates in the field and throughout our organization that make this possible.”
Rich Dealy, President and Chief Operating Officer of Pioneer added, “This amendment to our existing agreement with ProPetro reflects Pioneer’s desire for continuous improvement in completions performance as demonstrated through the material progress achieved since our partnership began. We thank ProPetro for its commitment to meet and exceed the high standards Pioneer expects in our operations.”
Pursuant to the Amended Agreement, ProPetro will deliver and dedicate hydraulic fracturing fleets to provide fracture stimulation pumping services and provide associated products in connection with such services. Pioneer will pay ProPetro certain fees, including a service fee invoiced by well or by pad and calculated based on the equipment and other services provided to Pioneer.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information, please visit www.propetroservices.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding growing the business and performance at the wellsite. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the operational disruption and market volatility resulting from the COVID-19 pandemic and other factors are described in ProPetro’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission. In addition, ProPetro may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
ProPetro Holding Corp
David Schorlemer, 432-227-0864
Chief Financial Officer
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Josh Jones, 432-276-3389
Director of Finance
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Momentum continues for Texas pipeline company
HOUSTON--(BUSINESS WIRE)--Texas pipeline company Max Energy continues to make moves as it today announced the purchase of the Upper Gulf Coast Pipeline System from Southcross Gulf Coast Transmission, Ltd. Southcross Gas Pipeline system. This purchase will add another 328 miles of existing pipeline to the impressive collection of transportation, terminaling, and loading infrastructure Max is putting together on the Texas Gulf Coast.
“By purchasing the Southcross Gas Pipeline, Max Energy can now connect oil from all over the state to our Edna facility,” said Todd Edwards, Max Chairman. “We believe this will provide customers with alternatives to better optimize their crude oil movements and increase value throughout their supply chains.
Max Energy will immediately begin work on converting segment of the pipeline to crude operations. Before the end of the year, Max plans to have completed an interconnect with the Grey Oak Pipeline and the Victoria Express Pipeline, which will further expand access to growing crude production from the Permian and Eagle Ford basins. Max is also developing plans to connect its growing pipeline system to both the Houston and Corpus Christi markets. This will provide customers with more options for crude movements. Ultimately, this will allow customers the ability to utilize the Port of Calhoun to better optimize their logistics compared to more congested ports. Max will be able to transport crude via pipelines between the major export ports of Houston, Corpus Christi and Calhoun including connected header systems in Edna, Three Rivers, Taft and Helena. And, Max will continue to develop all assets within the commitments of maintaining a carbon-neutral export facility.
To see a map of the Max pipeline system, click here: Max Map
About Max Energy: Max Energy is creating a modern and evolved Energy Asset and Trading Company. Throughout its development, it will instill innovation, forward-thinking, and new solutions for its market and customers. As the world’s energy needs and requirements are rapidly changing, Max Energy is prepared to offer value-driven solutions for today and the future. Through its subsidiary Max Midstream, it operates a carbon neutral export terminal at the Port of Calhoun, Texas and linking pipeline on the US Gulf Coast. For further information about Max Energy and Max Midstream, visit https://www.maxmidstream.com.
Kasey S. Pipes
817-542-3870
DUBLIN--(BUSINESS WIRE)--The "Autonomous Underwater Vehicles Market Size, Trends & Growth Opportunity, By Technology, By Shape, By Payload Type, by Application By Region and Forecast till 2027." report has been added to ResearchAndMarkets.com's offering.
The Autonomous Underwater Vehicles market was valued at USD 1.5 billion in 2020 which expected to reach USD 4.3 billion by 2027 at a CAGR 10.9% from 2020-2027.
Companies Mentioned
Autonomous underwater vehicles are useful for a variety of missions, including shipwrecks, mapping rock formations, and other hazards that may pose a hazard to recreational and commercial navigation vessels. Autonomous underwater vehicles are outfitted with cutting-edge sensor technologies, such as sonar systems and oceanographic sensors, that allow them to complete the entire mission without the need for operator intervention.
Market Drivers
Defense spending is increasing in a number of countries around the world.
Security concerns, as well as concerns about contested territories and threats, have resulted in a significant increase in global defence spending. AUVs are used by defence forces for mine countermeasures, rapid environmental assessment, intelligence, surveillance, and reconnaissance, harbor protection and port clearance operations, and anti-submarine warfare. As a result, AUVs are expected to be used more frequently in the coming years to combat underwater security threats, resulting in global market growth.
Market Restraints
AUVs have high operating costs.
AUVs are high-priced maritime systems. The A18 AUV (ECA GROUP), for example, has a depth rating of up to 3,000 m and a price range of USD 2- 6 million. The deployment costs of AUVs used in exploration or surveying activities increase the overall cost of exploration and surveying missions. Furthermore, the high costs of maintenance, manufacturing, R&D, and system complexity associated with AUVs are slowing their adoption, despite the fact that they are increasingly being used in simple missions such as environmental monitoring.
Impact of COVID-19
COVID-19's impact on the AUV market and consumer demand is currently unknown. However, it is expected that there will be a short-term reduction in AUV production because the oil and gas industry, which is the largest consumer of AUVs, is experiencing a shortage of oil and gas. Travel restrictions imposed in a number of countries, including Albania, Armenia, Australia, Azerbaijan, Bosnia and Herzegovina, Brunei Darussalam, Canada, Japan, Jordan, New Zealand, Qatar, the Republic of Moldova, Saudi Arabia, Serbia, Singapore, South Korea, Ukraine, and China, are causing a shortage in demand for oil and gas.
Market Taxonomy
By Technology
By Shape
By Payload Type
By Application
By Region
Key Questions Addressed by the Report
For more information about this report visit https://www.researchandmarkets.com/r/v9ufhp
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Marine Battery Market by Battery Type, Ship Type, Function, Nominal Capacity, Sales Channel and Battery Density: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Marine battery is a primary or auxiliary power source for the vessels, which provide power for the various applications such as start-stop, lighting, a windlass, depth finders, and fish locators. Marine batteries have robust construction and equipped with heavier plates. These batteries are designed specifically for use on a ships or vessels to sustain the vibration and pounding that can occur onboard any boat.
The report on the global marine battery market focuses on current market trends and future growth opportunities of various battery types such as lithium, lead acid, and others. It categorizes the market in terms of ship type into commercial, and defense and by function, the market is divided into starting, deep cycle, and dual purpose. By nominal capacity, it is classified into less than 150 Ah, and more than 150 Ah.
On the basis of sales channel, the market is divided into OEM, and aftermarket. In addition, the report provides information on battery density such as < 100 WH/KG and More than 100 WH/KG. Furthermore, it analyzes current trends of marine battery across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
Key Benefits
Market Dynamics
Drivers
Restraints
Opportunities
Key Segments
By Battery Type
By Ship Type
By Function
By Nominal Capacity
By Sales Channel
By Battery Density
By Region
Key Players
For more information about this report visit https://www.researchandmarkets.com/r/baxm43
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Southern food chain launches gas giveaway to relieve pain at the pump for its customers and communities
CHARLOTTE, N.C.--(BUSINESS WIRE)--Bojangles, the legendary Southern food chain known for its chicken, biscuits and tea, is giving away $1 million in free gas to help customers offset the rising cost of fueling up their tanks.
Beginning today until supplies run out, every purchase of a Bojangles Family Meal – featuring 12 or 20 pieces of bone-in chicken, plus scratch-made biscuits, choice of home-style fixins and Legendary Iced Tea® – will come with a $10 gas gift card.
“Southerners are known for being friendly neighbors, so as a Southern brand, it’s in our DNA to want to help our customers who are feeling the pain of soaring gas prices,” said Jackie Woodward, Bojangles Chief Brand and Marketing Officer. “We don’t want anyone to have to choose between enjoying a delicious meal with the family or buying gas, so let Bojangles help with both.”
According to data compiled by AAA, gas prices reached the highest levels on record in March 2022. As a family-forward chain known for providing great food and tremendous value, Bojangles saw an opportunity to rally and help thousands of customers during the gas crunch.
“This is the first time in Bojangles’ history that we’ve ever given away $1 million, but we know our customers are worth it, and we’re just glad that we could come together with all of our franchisees to support them,” said Woodward.
The $10 gas cards are available while supplies last on all 12- or 20-piece bone-in chicken Family Meals purchased in-store, at the drive-thru or with order ahead using the Bojangles app. Family Meals featuring Chicken Supremes, as well as all delivery orders, are not eligible.
About Bojangles, Inc.
Bojangles, Inc. is a highly differentiated and growing restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from our Southern recipes, including breakfast served All Day, Every Day. Founded in 1977 in Charlotte, N.C., Bojangles® serves menu items such as made-from-scratch biscuit breakfast sandwiches, delicious hand-breaded bone-in chicken, flavorful fixins (sides) and Legendary Iced Tea®. Currently, Bojangles has approximately 760 system-wide restaurants in 14 states. For more information, visit www.bojangles.com or follow Bojangles on Facebook, Instagram and Twitter.
Media Contacts:
Hallie Dean, Luquire (This email address is being protected from spambots. You need JavaScript enabled to view it., 704-807-2083)
Stacey McCray, Bojangles (This email address is being protected from spambots. You need JavaScript enabled to view it., 704-940-8736)
MUNICH--(BUSINESS WIRE)--Panasonic has welcomed experts from across the sector to address key issues around the future of electric vehicle technology and its effects on decarbonisation.
The Livestream held on 17th March 2022, “Driving Net-Zero: How electronic components are essential for green mobility”, highlighted the development of the electric vehicle (EV) sector which relies on quality components that not only address current requirements but also meet the needs of future growth.
Panasonic is leading the way in preparing for the future of e-mobility, and earlier this year set out its Green Impact strategy, a wide-reaching reform to develop solutions addressing climate change in regards to energy and resource use/circular economy. All with the aim to drive forward sustainability and cut carbon emissions to zero by 2030 in its own operations. To address the key issues impacting the sector, Panasonic invited to the stage: Professor Markus Lienkamp, Technical University of Munich; Matthias Schmidt, European Automotive & E-mobility Researcher; Johannes Spatz, President Panasonic Industry Europe; Alexander Schultz-Storz, Director, Cross Value and Open Innovation Division, Panasonic Industry Europe; and Pascal Lieberherr, Project Manager System Design & Controls Team at Rowesys.
Demand for electric vehicles has been rising steadily in recent years. According to Matthias Schmidt, BEV pure electric new car volumes surpassed new diesel car volumes for the first month ever during December 2021 across Western Europe. Due to the impact of the ongoing war and its effect on the rising diesel price these last two weeks, the shift to EVs is forecast to accelerate even more. He then detailed his data on electric vehicle implementation and examined the fluctuations of EV demand from country to country.
According to Professor Markus Lienkamp, some of the major trends in the electric vehicle take-up include carbon reduction policies, air quality in urban centres and the key issues driving the technical developments of new power train technologies in compact-class cars up to 2030.
Panasonic’s Johannes Spatz outlined Panasonic's ambitious global plans to drive net-zero by becoming carbon-neutral by 2030 - a massive undertaking with 250 factories worldwide and more than 240,000 employees. Within Panasonic Industry Europe and his direct area of influence at 16 different European locations, his carbon footprint analysis showed that over 80% of emissions were caused by transportation and distribution from the time products and components are shipped from the factories to customers. An area which is in big need of cleaner mobility.
Alexander Schultz-Storz of Panasonic lifted the lid on the importance of component development and spoke in detail about innovation and the digitalization of future mobility. He also introduced how the agriculture sector held many opportunities in robotics to drive carbon reduction in global food production, increasing efficiency and tackling the growing issue of ageing farmers.
Pascal Lieberherr from the Rowesys project concluded the presentations by further exploring the necessity for technology within the agriculture sector. The Rowesys robot, Rosie, removes weeds reducing the need for herbicides and conserving limited labour resources via automation.
Related Press Releases:
- Our Team – Rowesys (ethz.ch)
About the Panasonic Group
A global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022, with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. Founded in 1918, the Group is committed to enhancing the well-being of people and society and conducts its businesses based on founding principles applied to generate new value and offer sustainable solutions for today’s world. The Group reported consolidated net sales of Euro 54.02 billion (6,698.8 billion yen) for the year ended March 31, 2021. Devoted to improving the well-being of people, the Panasonic Group is united in providing superior products and services to help you Live Your Best.
To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/
Media Contact:
Dorotea Horina, Panasonic Europe, Corporate Communications
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Petro Raphine Expected to Be One of Largest Travel Centers in the U.S. with Nearly 900 Truck Parking Spaces
WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it has completed the previously announced acquisition of two travel center locations for $45 million. Located along the Interstate 81 corridor in Virginia, Petro Raphine and TA Lexington have been successful TA franchise locations since 2011. TA expects to realize significantly more cashflow from owning these locations than as franchise locations and forecasts these locations will generate approximately $9.0 million of site-level EBITDA in 2023.
The Petro Raphine site is currently under renovation to add 170 new truck parking spaces and greatly expand existing retail space. Following the renovation, which is anticipated to be completed this summer, Petro Raphine is expected to be one of the nation’s largest travel centers based on its nearly 900 truck parking spaces.
“Investing in growth through the addition of company-owned sites is one of our key priorities for capital deployment this year,” said Jonathan Pertchik, Chief Executive Officer of TA. “Located along a busy and strategic highway corridor which serves professional truck drivers, four-wheel travelers and the local communities, we expect these sites to exceed our minimum return thresholds. With the size and breadth of offerings at Petro Raphine, we are adding a flagship location to our company-owned sites and will also benefit from the experienced managers at these locations joining our company.”
About TravelCenters of America Inc.:
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in over 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Warning Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever TA uses words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "will," "may" and negatives or derivatives of these or similar expressions, TA is making forward-looking statements. These forward-looking statements are based upon TA’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and involve known and unknown risks, uncertainties and other factors, some of which are beyond TA’s control. Among others, the forward-looking statements which appear in this press release that may not occur include:
Investors are cautioned not to place undue reliance upon any forward-looking statements. Except as required by law, TA does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
Kristin Brown, Director, Investor Relations
(617) 796-8251
MGE's newest solar array serves the City of Madison and Madison Metropolitan School District.
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric's (MGE) latest solar array, the 8-megawatt (MW) Hermsdorf Solar Fields, is fully operational and delivering locally generated, sustainable energy to MGE's distribution grid. The project in southeast Madison provides solar energy to the City of Madison and to the Madison Metropolitan School District (MMSD) under MGE's innovative Renewable Energy Rider (RER).
"We are excited to have this solar array in service, providing carbon-free, cost-effective electricity as we continue to grow our use of renewable energy and move toward net-zero carbon electricity by 2050," said Jeff Keebler, MGE Chairman, President and CEO. "Thank you to the City of Madison and MMSD for their partnership on this project, which provides another source of locally generated clean energy and is another step toward our shared sustainability goals."
"I'm delighted to be partnering with MGE and MMSD to bring sustainable energy to Madison," said Madison Mayor Satya Rhodes-Conway. "The clean solar-powered electricity generated by Hermsdorf Solar Fields helps the City of Madison take a significant step toward our 100% renewable energy goal for City operations."
The City is served by 5 MW of the output and MMSD is served by 3 MW of the output under separate RER agreements with MGE. The electricity generated by this distributed solar project is expected to increase renewable energy use in City operations by nearly 20% and by about 16% for MMSD.
Hermsdorf Solar Details
Located on more than 50 acres of land off of East Buckeye Road in southeast Madison, the solar array includes nearly 30,000 solar panels consisting primarily of bifacial panels that produce energy from both sides as they track the sun throughout the day. The project was developed by NextEra Energy Resources Development, LLC.
MGE owns the array and leases the land from the Hermsdorf family. MGE will add pollinator plantings in certain areas of the Hermsdorf site to provide pollinator habitat for dwindling monarch and honeybee populations.
Renewable Energy Rider Grows Local Clean Energy
MGE's RER enables MGE to partner with a large energy user to tailor a renewable energy solution to meet that customer's energy needs. The City of Madison and MMSD have entered into separate RER agreements with MGE, which were approved by the Public Service Commission of Wisconsin. RER customers are responsible for costs associated with the renewable generation facility and any distribution costs to deliver energy to the customer. The RER model grows clean energy in our community.
Working Toward Net‐Zero Carbon Electricity
MGE has a goal to reduce carbon emissions at least 80% by 2030, consistent with global climate science to limit global warming. MGE continues to transition its energy supply to cleaner sources, with the anticipated addition of nearly 400 MW of wind, solar and battery storage between 2015 and 2024.
In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities in the nation to commit to net-zero carbon by mid-century. MGE's net-zero goal is consistent with climate science from the Intergovernmental Panel on Climate Change (IPCC) October 2018 Special Report on limiting global warming to 1.5 degrees Celsius. To achieve deep decarbonization, MGE is growing its use of renewable energy, engaging customers around energy efficiency and working to electrify transportation, all of which are key strategies identified by the IPCC.
About MGE
MGE generates and distributes electricity to 159,000 customers in Dane County, Wis., and purchases and distributes natural gas to 169,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Steve Schultz
Corporate Communications Manager
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it will issue a press release containing its first quarter 2022 financial results after the Nasdaq closes on Monday, May 2, 2022. On Tuesday, May 3, 2022 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results.
The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Tuesday, May 10, 2022. To hear the replay, dial (412) 317-0088. The replay pass code is 1678798.
A live audio webcast of the conference call will also be available in a listen-only mode on the company's website, which is located at www.ta-petro.com. Participants who want to access the webcast should visit the company's website about five minutes before the call. The archived webcast will be available for replay on the company's website after the call.
About TravelCenters of America Inc.:
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in over 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Kristin Brown, Director, Investor Relations
(617) 796-8251
Acquisition Strengthens ARM’s Natural Gas Market Connectivity and Links ARM Supply Portfolio with Near-Term Demand
HOUSTON--(BUSINESS WIRE)--ARM Energy Holdings, LLC (“ARM”), a premier infrastructure and energy marketing services firm, today announced that it, along with certain of its affiliates and various financial partners and co-investors has acquired Monument Pipeline, LP (“Monument”), a Houston-based natural gas pipeline, from affiliates of NextEra Energy Partners, LP. Monument provides natural gas transportation and marketing services to end-users in the Houston area and will be operated by affiliates of ARM.
Monument is a natural gas transportation system with approximately 156 miles of pipeline originating at the Katy Hub, with connections to the Houston Ship Channel, La Porte and League City market areas. The pipeline also services several residential city gates in high-growth areas of the Greater Houston metroplex. Through Monument’s extensive existing footprint and growth potential, ARM will expand its marketing reach to a diverse group of additional end-users. ARM will continue to provide efficient and quality transportation services across Monument and other adjacent markets.
Zach Lee, Chief Executive Officer of ARM, said, “ARM has worked throughout its history to connect energy suppliers to demand centers and provide outstanding service and excellent results for our clients. Monument is a natural expansion of this mission, with strategic capabilities that enable our combined team to deliver enhanced services to meet our customers’ rising energy demand needs.”
Greenhill & Co. served as exclusive financial advisor, and Vinson & Elkins LLP and Eversheds Sutherland (US) LLP acted as legal advisors to the buyer for this transaction.
About ARM Energy Holdings, LLC
Headquartered in Houston, with offices in Calgary, Denver, Los Angeles and Nashville, ARM Energy Holdings, LLC is a premier marketing services and infrastructure firm, active in every sector of the energy value chain across all major North American oil and gas basins and many key supply centers. For more information, please visit www.armenergy.com.
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