SAN FRANCISCO--(BUSINESS WIRE)--Riverbed | Aternity today announced that Shelf Drilling, an offshore drilling company providing shallow water services to the oil and gas industry, has successfully implemented Riverbed® SaaS Accelerator and Riverbed® SteelHead™ to overcome the inherent bandwidth limitations of the VSAT links used to connect its off-shore rigs to mission-critical on-premises and cloud-based applications. By delivering a 95% reduction to the company’s Intranet traffic while optimizing core applications by 80%, the solution has helped Shelf Drilling streamline critical rig operations including order processing, staff training, and operations management.
LinkedIn: Shelf Drilling selects Riverbed | Aternity to accelerate business critical applications, ensuring workforce productivity and superior user experience on offshore rigs: https://rvbd.ly/3Fe2SAM
Headquartered in Dubai, Shelf Drilling operates 30 rigs across eight countries and has 12 onshore locations, with approximately 3,000 employees and contractors. While technology plays a fundamental role in operations, the company’s offshore rigs present unique IT challenges.
“As satellite links are the primary means of connectivity, these rigs typically have low bandwidth of just 1-2 Mbps, and high latency of up to 750 milliseconds,” explained Ian Clydesdale, IT Director at Shelf Drilling. “As a result, some of our key applications require optimization to manage data replication effectively, including our JD Edwards ERP platform, responsible for generating purchase orders in the procurement process, as well as our operational management applications.”
Clydesdale added, “Additionally, all the usual administrative functions need to share and access large files especially during key rig operations. Also, employee satisfaction is another aspect that’s heavily dependent on connectivity. Our staff now rely on bandwidth-intensive applications to keep in touch with family and carry out personal functions such as mobile banking. It’s imperative for us to facilitate this.”
To address these challenges, Clydesdale and his IT team implemented Riverbed SaaS Accelerator to accelerate business-critical SaaS applications and Riverbed SteelHead™ for WAN Optimization to maximize network and application performance. These solutions integrate with key technologies such as Shelf Drilling’s VMware virtualization software, JD Edwards, and Microsoft 365 to improve performance.
Riverbed | Aternity has enabled the company to achieve a compression rate of over 50% on 1.2 terabytes of email data. Performance monitoring traffic is also accelerated at an average rate of 67% per month, and for their ERP suite, the company experiences 81% optimization along with a 95% reduction in database replication traffic. Additionally, Riverbed | Aternity streamlines replication of data from offshore instances to the virtual cloud environment.
Since Riverbed | Aternity began optimizing Shelf Drilling's Internet traffic, outages are now less likely to affect data transfer. This is key to the company’s cloud-first strategy which includes the migration to Microsoft Azure in the UAE. “Riverbed | Aternity is an integral part of our infrastructure, so when we’re considering new technology solutions, we have to prioritize technologies that integrate directly with it,” said Clydesdale. “We’re always striving for the best possible digital experience for our teams, and it simply doesn’t make sense to run a network of our size and complexity without Riverbed | Aternity’s optimization and SaaS Acceleration solutions.”
Commenting on the successful partnership between Shelf Drilling and his organization, Mena Migally, Regional Vice President, META at Riverbed | Aternity said, “This was a landmark project as Shelf Drilling was the first organization in the Middle East to implement our SaaS Acceleration solution. We take pride in providing them with technologies that are virtually ‘invisible’ – requiring minimal resources from their internal IT team – and thereby affording them the ability to focus on revenue generation and value creation for their end customers. As they now look to adopt a cloud-first strategy, Riverbed | Aternity is ready to actively guide them through their exciting transformation journey.”
About Riverbed | Aternity
Riverbed | Aternity enables organizations to maximize visibility and performance across networks, applications and end-user devices, so they can fully capitalize on their cloud and digital investments. Riverbed | Aternity solutions enable organizations to visualize, optimize, remediate and accelerate the performance of any network for any application, while supporting business objectives to mitigate cyber security risk and enhance the digital experience for all end-users. The Company offers two best-in-class product lines: end-to-end visibility – including NPM, APM and EUEM – that delivers actionable insights; and network and acceleration solutions, including application acceleration (SaaS, client and cloud acceleration), WAN optimization, and enterprise-grade SD-WAN. Riverbed | Aternity’s 30,000+ customers include 95% of the Fortune 100. Learn more at riverbed.com.
Riverbed and any Riverbed product or service name or logo used herein are trademarks of Riverbed Technology, Inc. All other trademarks used herein belong to their respective owners
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Helen Bainton
Riverbed Technology
+44 (0)7827 806990
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Automation technologies integral to world’s first offshore green hydrogen production process
RIJSWIJK, Netherlands--(BUSINESS WIRE)--Emerson (NYSE: EMR) is helping accelerate technology development for large-scale offshore green hydrogen production. The company is developing software and systems to enable safe and efficient operation of the world’s first offshore green hydrogen production process on an operational gas platform.
The PosHYdon project is a pilot that aims to validate the integration of offshore wind power and offshore natural gas and hydrogen production at sea—generating renewable fuels by harnessing a green energy source. The Neptune Energy-operated platform Q13a-A in the Dutch North Sea will host the project, which will provide insight into electrolyzer efficiency from a variable power supply and the cost of installing and maintaining a green hydrogen production plant on an offshore platform.
Green electricity will be used to simulate the fluctuating supply from wind turbines and power the production process, which will convert sea water into demineralized water and then safely produce hydrogen via electrolysis. The hydrogen is then blended with the natural gas and transported to the coast, via the existing gas pipeline, and fed into the national gas grid. The 1 MW electrolyzer is expected to produce up to three tons of hydrogen per week.
“Hydrogen is regarded as the ‘fuel of the future,’ but with ambitious decarbonization and net zero emission targets, it is essential to expand production capacity and accelerate the transition to hydrogen produced using sustainable energy,” said Mark Bulanda, executive president of Emerson’s Automation Solutions business. “Through the PosHYdon project, we – together with the consortium partners – hope to provide a pathway to large-scale offshore green hydrogen production and make a significant contribution to the energy transition process.”
Emerson’s DeltaV™ distributed control system, DeltaV safety instrumented system and DeltaV Live operator interface software will manage the desalination and electrolyzer units, gas blending and balance of plant equipment. By meeting the unique application challenges, including variable desalinated water feedstock and power supply, DeltaV software and systems will provide enhanced safety, process uptime and operational efficiency. The solution will ensure the existing natural gas operations remain unaffected and blended gas meets its required specification. Integration with the existing offshore systems and communication with onshore operations will maximize process visibility and prevent unforeseen issues.
“The PosHYdon project creates a unique opportunity to develop the steps required to ensure safe, large-scale green hydrogen production at sea,” said Bulanda. “Emerson’s experience across the hydrogen value chain, wind power and offshore energy industries will help achieve successful project execution, and our proven technology will ensure safe and efficient operations in this first of a kind application.”
PosHYdon is being developed by consortium partners Nexstep, TNO, Neptune Energy, Gasunie, Noordgastransport, NOGAT, DEME Offshore, TAQA, Eneco, Nel Hydrogen, InVesta, Hatenboer, Iv-Offshore & Energy and Emerson. The project has been awarded a €3.6 million grant from The Netherlands Enterprise Agency (RVO) under the agency’s Demonstration Energy and Climate Innovation scheme, which invests in renewable energy developments, including hydrogen pilots.
Animated video with English subtitles: https://vimeo.com/367724580.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit Emerson.com.
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Denise Clarke
512.587.5879
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NEW YORK--(BUSINESS WIRE)--Rob Gough, a portfolio manager for Strategy Shares’ newest ETF NZRO, has experience as an actor and serial entrepreneur, and is well acquainted with the plotlines of action-thriller Hollywood disaster films. He currently co-stars alongside Bruce Willis in the movie American Siege. Yet, despite warnings of a crisis, he knows the future doesn’t have to be all doom and gloom when it comes to climate change.
Over a decade ago, Gough started researching the effects of climate change because he wanted to make a difference. At the time, living in Indianapolis, some friends and family seriously questioned his decision to invest almost every penny he had saved up into a disruptive recycling business to try and make a change for the well-being of the environment. Since then, Gough found a buyer for that recycling company to take it to the next level and has had multiple other business exits along the way, but that thirst for making a significant impact in the fight against climate change never left him.
Fast forward 12 years, he was inspired by the efforts being made by a company named ClimeWorks when he read about them in September 2021. ClimeWorks recently built and opened “Orca,” the world’s largest direct air capture “carbon sucking” factory in Iceland that uses geothermal volcanic power to remove CO₂ from the atmosphere and sequester it beneath the rock layer. While many innovators and investors talk about reducing CO₂ emissions in the hopes of slowing climate change, companies like ClimeWorks are actively taking it to the next level with Orca by seeking to reverse climate change and actually reducing excess carbon in the atmosphere.
This was all great news, yet the math indicates that at least another 39,999 factories like Orca are needed to bring carbon emissions in check and make sure we avert a real-life climate disaster. Rob discussed his concern for the frightening impact of climate change and potential solutions with David Miller, CIO of Strategy Shares ETFs. The duo understood that investors in the U.S. would need to do their part and act in a more active way than just buying “green” stocks.
Miller and Gough decided to team up and launch the Strategy Shares Halt Climate Change ETF (Nasdaq NZRO), such that profits from the management fees earned by Strategy Shares from NZRO could be invested directly into projects and companies that seek to curb or reverse climate change. The first project for Strategy Shares is to purchase carbon removal services powered by the ClimeWorks Orca plant, an investment which began in January 2022. It is estimated that Orca removes more than 300 metric tons of CO₂ from the atmosphere each month and fuels ClimeWorks’ ambitions towards reversing climate change.
In addition to the impact that David and Rob seek to have on the environment through the climate initiatives, they also know that investors need to focus on sustainability for the well-being of their portfolios. The demand for greener investment products is rising, and this is with good reason. With large investors divesting from non-renewable energy sources and retail investors now following their lead, Strategy Shares is proud to offer an alternative approach for green conscious investors. Businesses specializing in electric vehicles, solar inverters, and technology powering remote work and virtual connectivity have seen real success, which the team behind NZRO believes has created investment opportunities. The tailwinds for these growing sustainable sectors of the economy are becoming increasingly obvious.
NZRO’s investment process begins by seeking out those companies that meet at least one of a set of climate-focused criteria:
Companies that meet any of the above criteria are then reviewed by the fund’s management team using a rigorous fundamental research approach focused on both their credit worthiness as well as their commitment to climate initiatives, with the final portfolio made up of those companies the team believes have the highest risk/return potential. When a company no longer meets the criteria according to the investment guidelines, the position will be sold.
“The push for net zero will be a defining economic event for the foreseeable future. Companies that are positioning themselves to play a leadership role in carbon reduction aren’t just going to have an impact on our planet, they will be well positioned in the eyes of climate-conscious investors,” added David Miller, Portfolio Manager of NZRO. “We are committed to offering a differentiated product that can hopefully be positioned to not only outperform the market over the long-term but can make a real difference in combating climate change. Investors coming together with a common goal can have a real impact on fixing the climate crisis, and at Strategy Shares we hope to be part of the solution.”
“I’ve been incredibly inspired by the advances in technology that we’ve seen to help push the world to net zero,” said Gough. “We believe that if enough people join this battle with us, we can put up a meaningful and significant fight against climate change before it becomes too late.”
For more information on Strategy Shares ETFs’ unique suite of investment products, please visit: www.StrategySharesETFs.com.
About Strategy Shares
Strategy Shares is a family of exchange traded funds (ETFs) focused on bringing unique strategies to the ETF marketplace. Currently, Strategy Shares offers four ETFs: the Strategy Shares Nasdaq 7HANDL™ Index ETF (HNDL), the Strategy Shares Nasdaq 5HANDL Index ETF (FIVR), the Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) and the Strategy Shares Gold-Hedged Bond ETF (GLDB). For more information on Strategy Shares and its fund offerings, please visit: www.StrategySharesETFs.com.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Strategy Shares ETFs. This and other important information about the Funds are contained in the full or summary prospectus, which can be obtained by calling (855) HSS-ETFS (855-477-3837) or at www.StrategySharesETFs.com.
The information in this communication is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This communication is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
For more complete information on Strategy Shares, download and view a prospectus or summary prospectus now or call (855) 477-3837 for a free prospectus or summary prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus or summary prospectus, which you should read carefully before investing.
Investing involves risk, including loss of principal. There is no guarantee that this, or any investment strategy, will succeed. Shares of these ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns. Climate Change Investment Focus Risk. The Fund’s focus on securities of issuers that seek prevent or mitigate the deleterious effects of climate change may affect the Fund’s exposure to certain sectors or types of investments. The Fund’s relative investment performance may also be negatively affected if such sectors or investments are out of favor with the market. Emerging Market Risk. Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. The Fund is a new fund with no history of operations as an ETF for investors to evaluate. Foreign Investment Risk. Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because, among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions, as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers are subject. There is no guarantee that this, or any investment strategy, will succeed. Shares of these ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.
The Strategy Shares are distributed by Foreside Fund Services, LLC, which is not affiliated with Rational Advisors, Inc., or any of its affiliates.
Chris Sullivan
MacMillan Sullivan Communications
(212) 473-4442
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SAN ANTONIO--(BUSINESS WIRE)--EnCap Flatrock Midstream (“EFM”) today announced the promotion of Morriss L. Hurt to managing partner and chief operating officer. Founded in 2008, EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm manages funds with institutional capital commitments of approximately $9 billion.
“Morriss joined EFM in 2008, representing our first commitment to adding energy finance professionals to our team,” EFM Managing Partner and Founder Billy Lemmons said. “He has contributed to the growth and success of our firm on every front. In his new role, Morriss will continue as a valued investment decision-maker and oversee many of the aspects of the firm’s day-to-day operating functions. Morriss is an outstanding teammate and a visible example of EFM’s values and commitment to integrity, strong relationships and performance.”
“I’m very proud to have been a part of the EFM team since our founding in 2008,” Mr. Hurt said. “The partnership between EFM investors, management teams and investment professionals has yielded tremendous successes for our stakeholders which, in turn, has benefited many others around us. Hydrocarbons remain essential to meeting current global energy demand. As a result, we believe there is a strong opportunity set for continued investment in the midstream oil and gas sector. Additionally, given the significant momentum behind the decarbonization of our energy systems, EFM is already applying our extensive experience to the development of midstream infrastructure beyond traditional hydrocarbons. I’m very excited about the EFM opportunity set and grateful for this opportunity to help lead the firm into the future.”
About Morriss Hurt
Prior to joining EnCap Flatrock Midstream in 2008, Mr. Hurt was founder of The Encino Group, a boutique investment bank providing institutional quality financial advisory services for entrepreneur-owned companies. In this capacity, Mr. Hurt raised growth capital for high-quality management teams and provided mergers and acquisitions, financial and strategic advisory services. Prior to Encino, Mr. Hurt was a financial analyst with Salomon Smith Barney in New York, working in the firm’s Global Power group. Mr. Hurt earned a Bachelor of Business Administration degree in finance from Texas A&M University.
In addition to serving on EFM’s Investment Committee, he also serves on the firm’s ESG Committee and the Flatrock in Action Committee, which focuses on community service. Mr. Hurt is a member of the board of directors of several EFM portfolio companies, including Cogent Midstream, Ironwood Midstream Energy Partners and Rangeland Energy III. Mr. Hurt also serves as a member of the executive committee at The Children’s Shelter in San Antonio, where he is the chairman of finance and treasurer. He is a children’s education instructor at Redeemer Presbyterian Church and a member of the investment committee at San Antonio Academy of Texas.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages funds with investment commitments of approximately $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Casey Nikoloric, Managing Principal
TEN|10 Group
303.433.4397 x101 o
303.507.0510 m
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ROCKVILLE, Md.--(BUSINESS WIRE)--#Idahosolar--Standard Solar, a leader in the ownership, operation, funding and development of commercial and community solar assets, today announced it has acquired a fully operational 28.5 megawatt (MW) solar project from funds managed by True Green Capital Management. The acquisition, the company’s first in Idaho and one of its largest to date, underscores Standard Solar’s significant growth and leadership.
“We are actively pursuing growth opportunities through acquisition of existing and operating solar projects and adding the Mountain Home project to our asset base is a significant milestone for Standard Solar,” said Mike Streams, Standard Solar’s Chief Development Officer. “We are on track for 2022 to be our best year yet.”
“Following the sale of 79 MW in August 2021, this transaction completes the successful exit of our first and second funds, demonstrating the efficacy of our investment strategy,” said Chris Kirkman, Partner and Head of Project Finance at True Green Capital Management.
The system is located in Mountain Home, the largest city in Elmore County, and has been providing energy savings to area residents and businesses since it became active in 2017. Idaho Power purchases the power generated from the system to provide energy to its customers at a discounted price. The Mountain Home system produces 54,716 megawatt hours of clean energy annually, enough to offset over 4.3 million gallons of gasoline consumed and the charging of 4.7 million smartphones.
This announcement follows Standard Solar’s recent acquisitions of solar project portfolios in Maine and Oregon totaling more than 15 MW. With this project addition, the company's ownership footprint now spans 21 states.
Standard Solar was recently listed as the fifth largest portfolio owner of commercial solar by Wood Mackenzie, a leading energy research and consultancy group.
KeyBanc Capital Markets represented True Green Capital Management in connection with this transaction.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 250 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
For project acquisition and development inquiries, contact Mike Streams, Chief Development Officer, This email address is being protected from spambots. You need JavaScript enabled to view it. and on LinkedIn.
About True Green Capital Management LLC
True Green Capital Management LLC (“TGC”) is a specialized renewable energy infrastructure private equity firm based in Westport, Connecticut. Having developed the capabilities of an operating renewable energy focused company, TGC has raised four private equity funds and invested into distributed solar power generation portfolios across fourteen U.S. states delivering clean, renewable energy. The firm was founded in July 2011 and is led by a team of investment professionals with a proven track record and a demonstrated capacity to originate, finance, construct, and operate distributed renewable power generation projects.
Standard Solar
Leah Wilkinson
Wilkinson + Associates
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703-907-0010
True Green Capital Management
Christina Anzel
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917-608-3550
SAN DIEGO--(BUSINESS WIRE)--Kleinfelder, an industry leading engineering and environmental professional services firm, and Azimuth1, a team of geospatial, data analytics, and computer science experts, have partnered to deliver an enhanced asset/property management solution – Rapid Site Development|ML, powered by Azimuth1’s machine learning (ML) technology, EnviMetric®.
Having provided comprehensive environmental science and engineering services for over 50 years, Kleinfelder is well versed in the environmental risks associated with property selection and feasibility, asset sales, and property divestitures. The firm’s environmental site investigation and remediation services help clients understand the liability and costs associated with a potential investment as well as the corrective measures required to clean up a site.
Leveraging Azimuth1’s ability to develop specialty data analysis applications that utilize ML, Kleinfelder’s environmental services can be streamlined and enhanced to save clients time and money.
“By implementing modern day analytics and visualization into Kleinfelder’s environmental work, we can advance site investigation, prioritization, and management to increase the quality of site work,” commented Azimuth1 CEO Jason Dalton.
Through their exclusive teaming agreement focused on the commercial and independent petroleum retailer markets, Kleinfelder and Azimuth1 have piloted a predictive modeling tool that estimates the extent and magnitude of groundwater contaminant plumes. Through machine learning techniques and a proprietary database of nearly 100,000 contaminated sites from across the US, the technology can rapidly provide accurate results by applying a machine learning approach which requires minimal site-specific data. The model output can then be used to guide site assessment and remediation plans which streamlines environmental site investigation activities, reducing costs associated with well installation, on-going sampling, third party access fees, and permitting. In many cases, these efficiencies can reduce the project lifecycle by two to three years, thereby providing tremendous lifecycle value for a low upfront cost.
“Through our partnership with Azimuth1, we can provide site developers with increased confidence that their development project will not result in unforeseen groundwater contamination issues that threaten the overall financial viability of the project,” said Kleinfelder SVP, Strategic Growth Director Jay Clare.
Kleinfelder. Bright People. Right Solutions. Founded in 1961, Kleinfelder is a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Kleinfelder employs more than 3,000 professionals and operates from over 100 office locations in the United States, Canada, and Australia. The company is headquartered in San Diego, California. Poised for growth, Kleinfelder continues to provide high-quality solutions for our diverse client base. Visit Kleinfelder.com or follow us on LinkedIn/Kleinfelder.
About Azimuth1. Azimuth1 is a fast-moving team of data analytics and computer science experts on a mission to bring specialty data analysis applications to environmental, public safety, and national security challenges. Our products are used by Fortune 500 companies, government agencies, and emergency first responders to make better decisions faster. Azimuth1 tools are typically statistical learning methods, geospatial data modeling and GIS, and interactive data visualization on the web leveraging open-source software throughout our process.
Dustin Esposito
Marketing Communications Manager
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(617) 498-4627
BOSTON--(BUSINESS WIRE)--Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR), has completed the previously announced restructuring of its existing Vineyard Wind joint venture to become the largest offshore wind supplier in New England. In total, Avangrid Renewables now has a projected offshore wind pipeline of 4.9 GW on the East Coast of the United States – enough to power more than 2 million households.
“With our completed restructuring, we are now even better positioned to continue to lead the burgeoning offshore wind industry in the United States,” said Dennis V. Arriola, CEO of AVANGRID. “We’ve got the right team in place and the expertise to bring these projects to commercial operation, to develop and build new projects, and to help our country meet its clean offshore energy goal of 30 GW by 2030.”
“Today marks the next phase for the Avangrid Renewables Offshore team as we continue to bring financial capital, global experience and technical expertise in offshore wind to the U.S. market,” said Bill White, president and CEO of Avangrid Renewables Offshore. “We have built a strong team of industry-leading offshore wind professionals, with a balanced mix of U.S. and global experts, and plans to add as many as 100 additional professionals in the coming year.”
Following the closing of its restructuring agreement with Copenhagen Infrastructure Partners on January 10, Avangrid Renewables now owns 100% of the Park City Wind (804 MW to Connecticut) and Commonwealth Wind (1232 MW to Massachusetts) offshore wind projects and retains a 50% share of the 800 MW Vineyard Wind 1 project serving Massachusetts, which is also the nation’s first commercial scale offshore wind farm. Avangrid Renewables is also the 100% owner of Kitty Hawk Offshore Wind (2500 MW) located off the coast of North Carolina and Virginia with the potential to deliver power to both states.
In addition, Avangrid Renewables has promoted two senior leaders responsible for implementing the company’s growing offshore wind project pipeline and securing its next generation of projects and growth. The appointments further strengthen the company’s world class offshore wind management team.
Sy Oytan has been appointed Senior Vice President for Offshore Project Management. Oytan is now responsible for the leadership and completion of Park City Wind and Commonwealth Wind. Oytan also continues in his role as Deputy CEO of Vineyard Wind 1 and will remain integral to the project’s successful construction. Oytan joined Avangrid Renewables in 2020 and has held significant leadership positions with Siemens Gamesa, the State of New Jersey, and Nord Renewable Energy Consulting. Oytan holds a degree in mechanical engineering from Middle East Technical University and a master’s in engineering from Clemson University.
Eric Thumma is promoted to Vice President for Offshore New Business. Thumma is responsible for the businesses’ commercial agreements, growth opportunities and strategies. Thumma joined Avangrid Renewables in 2007 serving as Director of Policy and Regulatory Affairs before joining the offshore business in 2019 as Senior Director for New Business. Thumma served as a Director of the Pennsylvania Energy Office and Deputy Secretary for Pollution Prevention and Compliance Assistance at the Pennsylvania Department of Environmental Protection and received his bachelor’s and master’s degrees from the University of Pittsburgh.
About Avangrid Renewables Offshore Wind Portfolio
Vineyard Wind 1: a 50/50 joint venture with Copenhagen Infrastructure Partners and the first commercial scale U.S. Offshore Wind Project. The project began onshore construction last year and when completed will deliver 800 MW to Massachusetts customers.
Park City Wind: an 804 MW project that will deliver clean energy to Connecticut customers while revitalizing Bridgeport’s waterfront as home to the project’s office and transition piece staging and operations and maintenance port.
Commonwealth Wind: a groundbreaking 1232 MW project that will deliver clean energy to Massachusetts customers. The project supports historic economic development investments in the Commonwealth, including a tier I cable manufacturing facility and the Commonwealth’s second offshore wind port in Salem, MA.
Kitty Hawk Offshore Wind: a 2,500 MW development project off the coast of North Carolina and Virginia. The project can deliver clean energy to both states and has received its notice of intent to proceed with permitting from the Bureau of Ocean Energy Management.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
Forward-Looking Statements
Certain statements in this release may relate to our future business and financial performance and future events or developments involving us and our subsidiaries that are not purely historical and may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as “may,” “will,” “should,” “would,” “could,” “can,” “expect(s),” “believe(s),” “anticipate(s),” “intend(s),” “plan(s),” “estimate(s),” “project(s),” “assume(s),” “guide(s),” “target(s),” “forecast(s),” “are (is) confident that” and “seek(s)” or the negative of such terms or other variations on such terms or comparable terminology. Such forward-looking statements include, but are not limited to, statements about our the impacts of the Vineyard Wind restructuring, the expected benefits of the Vineyard Wind restructuring, our offshore wind pipeline, the expected timetable for completing offshore wind projects, the ability to recruit and retain a highly qualified and diverse workforce in the competitive labor market, future opportunities, plans, objectives and intentions, outlooks or other future financial or business performance, strategies or expectations, results of operations or financial condition of the business and other statements about future events or performance. Such statements are based upon the current reasonable beliefs, expectations, and assumptions of our management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Important factors are discussed and should be reviewed in our Form 10-K and other subsequent filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may vary in material respects from those expressed or implied by these forward-looking statements. You should not place undue reliance on these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this release, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Other risk factors are detailed from time to time in our reports filed with the SEC, and we encourage you to consult such disclosures.
MEDIA:
Zsoka Mcdonald
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203-997-6892
INVESTORS:
Patricia Cosgel
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203-499-2624
HALIFAX, Nova Scotia--(BUSINESS WIRE)--On January 11, 2022, the Board of Directors of Emera Inc. (TSX: EMA) declared quarterly dividends on its common shares and First Preferred Shares, each of which is payable on and after February 15, 2022 to the applicable shareholders of record at the close of business on February 1, 2022, as follows:
Emera Inc. hereby notifies the shareholders of its common shares and its First Preferred Shares that such dividends declared qualify as eligible dividends pursuant to the Income Tax Act (Canada) and corresponding provincial legislation.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.
Emera Inc.
Investor Relations:
Dave Bezanson – Vice President, Investor Relations & Pensions
902-474-2126
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902-222-2683
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World leading transparent solar technology dramatically reduces the carbon footprint of buildings—the planet’s biggest energy consumers
REDWOOD CITY, Calif.--(BUSINESS WIRE)--#UEPower--Ubiquitous Energy, the world leader in transparent solar technology — the conversion of light into electricity using semiconducting materials all while maintaining visible transparency — announces today that the company closed a $30 million Series B funding round late last year. The raise was led by participation from both new and existing investors, including Andersen Corporation, ENEOS, Safar Partners, Hostplus, Red Cedar Ventures, and Riverhorse Investments. Ubiquitous Energy’s technology is the only patented and transparent photovoltaic glass coating that harnesses solar power to generate energy, all while remaining visibly indistinguishable from traditional windows.
Including this Series B round, a total of $70 million of funding has been raised by the company to date showing the significant interest that exists amongst investors as the company ramps its transparent solar UE Power™ technology towards commercialization. The company has begun the site selection process for its first high volume manufacturing line that will be located in the U.S., which will enable the company to bring its UE Power™ technology to the window industry. Broad adoption of UE Power™ within architectural glass has the opportunity to offset up to an estimated 10% of global CO2 emissions, greatly reducing the 40% of global carbon emissions that come from buildings and improving their energy efficiency at the same time. With more than 20 billion square feet of windows installed in homes and buildings every year, homeowners and businesses have an opportunity to increase value from these surfaces by installing transparent solar window products that produce energy and reduce the building’s carbon footprint.
To both residential and commercial building occupants, Ubiquitous Energy’s transparent solar windows provide a clear, natural experience that is expected from traditional windows, but with renewable energy generation that can be used for self-contained, on-board power and smart functionality or to offset energy consumption elsewhere. It is a complementary solar power asset that works within a portfolio of other renewable technologies for a larger, cumulative effect. The Series B funding allows the company to direct resources to continued research and development, manufacturing and product deployment, ultimately allowing more people to experience the power of solar.
“Ubiquitous Energy’s transparent photovoltaic technology is revolutionary and represents a new horizon for the fenestration industry,” said Jay Lund, chairman and chief executive officer, Andersen Corporation. “As America’s premier window and patio door manufacturer, Andersen is excited to support the work of Ubiquitous Energy to bring solar power into homes and commercial buildings through windows and doors, creating new opportunities for energy efficiency, cost savings and smart home integrations that will both delight homeowners and contribute to a healthier planet.”
“Ubiquitous Energy’s passionate team has created a next-generation technology that’s effective, affordable, and beautifully designed,” said Yaz Yazaki, ENEOS executive officer. “Ubiquitous Energy’s transparent solar products can bring renewable energy to every surface around the globe, and we look forward to working with the team as they increase solar adoption in the U.S. and beyond.”
The investment concludes a significant 10th year anniversary for Ubiquitous Energy, which saw numerous installations of its technology, including the following:
“We are thrilled to bring on new and existing investors as partners, including ENEOS, a leader in the renewable energy sector, and Andersen, America’s premier window manufacturer,” said Susan Stone, Ubiquitous Energy’s CEO. “Since our technology’s inception at MIT & MSU over 10 years ago to now, looking towards the future, we are committed to making an enormous impact environmentally. This latest funding round will help expand what’s possible in a renewable energy portfolio and change the way the world utilizes solar power – one window at a time.”
About Ubiquitous Energy, Inc.
Founded in 2011, Ubiquitous Energy was started by a group of MIT and MSU scientists and engineers looking for new ways to reduce humanity’s carbon footprint by seamlessly integrating solar power technology into everyday products and surfaces. Ubiquitous Energy has the world’s leading transparent solar technology – the conversion of light into electricity using semiconducting materials all while maintaining visible transparency. To both residential and commercial building occupants, Ubiquitous Energy’s solar windows provide a clear, vibrant experience that is expected from traditional Low-E windows, but with self-contained, on-board power and smart functionality. For more information please visit us at https://ubiquitous.energy/ or connect with us via Linkedin.
Kathy Berardi
JMG Public Relations
678-644-4122
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BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), is announcing FM OnBoard™, a digital maintenance platform and remote video collaboration product enhancing the defense contractor's virtual support services, today at the Surface Navy Association Symposium. The remote collaboration tool positions FMD as the only naval defense turnkey solutions provider to offer mixed reality technology that gives customers access to immediate comprehensive technical support when and where it's most needed – from the shipyard to the open sea.
FM OnBoard's remote video collaboration allows onsite users to engage directly with a live, offsite FMD service technician using party-to-party video conferencing viewed through mixed reality headsets. The headset also enables users and remote technicians to see 3D visualizations of connected assets and their performance data so the remote support technician can guide onsite users through troubleshooting, maintenance, or repair services.
"The U.S. fleet and its allies rely on FMD's onboard solutions and global technical support to maximize mission confidence. We consider technology such as our FM OnBoard to represent the future of maintaining U.S. Navy and U.S. Coast Guard fleets," said George Whittier, FMD CEO. "FM OnBoard gives our customers instant access to support services and allows them to leverage the OEM expertise of our senior-level technicians – all while saving money and reducing the length and number of field service mobilizations."
FMD launched FM OnBoard in 2021. When onsite service technicians wear the mixed reality headsets, the program's IoT Remote Visualization tool projects 3D digital assets communicating the asset’s current state. This enables users to interact with the asset and its components to monitor performance, detect anomalies, and conduct necessary maintenance or repairs. FM OnBoard subscribers receive mixed reality training, guided maintenance, standard work procedures, and evidence recording to keep accurate maintenance and service records – all accessible through the mixed reality headsets.
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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DENVER & CHICAGO--(BUSINESS WIRE)--Wolf Carbon Solutions US LLC (Wolf Carbon Solutions) and ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, today announced that they have signed a Letter of Intent paving the pathway toward further decarbonization of ADM’s footprint via construction of a pipeline – developed, owned and operated by Wolf Carbon Solutions – which, together with a commercial agreement, will allow for the capture, compression and transportation of carbon dioxide produced at ADM’s Clinton and Cedar Rapids, Iowa, facilities.
Designed as the backbone infrastructure needed to support the region’s lower carbon transition, the 350-mile steel trunk line will be capable of transporting 12 million tons of CO2 per year. The pipeline will offer dedicated capacity to transport CO2 from ADM’s ethanol and cogeneration facilities in Clinton and Cedar Rapids to be stored permanently underground at ADM’s fully permitted and already-operational sequestration site in Decatur, Illinois. The pipeline would have significant spare capacity to serve other third-party customers looking to decarbonize across the Midwest and Ohio River Valley.
“This partnership is an excellent example of industries working together to decarbonize and deliver upon their ESG strategies and commitments,” said David Schmunk, President, Wolf Carbon Solutions. “Our organizations offer a great combination of complementary skills and experience — ADM with more than 10 years of experience owning and operating CO2 sequestration wells, and the Wolf Carbon Solutions team with expertise in owning and operating carbon capture facilities and pipeline transportation systems, including North America’s largest third-party CO2 pipeline in Alberta, Canada. We are delighted to share our expertise to further the effort to develop low carbon fuels in the U.S.”
ADM’s carbon capture and sequestration capabilities in Decatur have allowed it to safely and permanently store more than 3.5 million metric tons of CO2 a mile and a half under the surface of the earth, and have paved the way for increased decarbonization of the company’s operations, including its announcements in 2021 of a partnership to construct a zero-emissions power plant adjacent to the company’s Decatur corn complex, and its achievement of the wheat milling industry’s first carbon-neutral footprint.
“ADM is continuing to lead the way to decarbonize the industries in which we operate,” said Chris Cuddy, President, Carbohydrate Solutions for ADM. “Customers are increasingly turning to us to help them meet their Scope 3 emissions commitments with low carbon-intensity sustainable solutions. This is an exciting opportunity for ADM to connect some of our largest processing facilities with our carbon capture capabilities, advancing our work to significantly reduce our CO2 emissions while delivering sustainable solutions for our customers. These efforts are core to our purpose, our culture and our growth, and we look forward to working with Wolf Carbon Solutions to finalize this agreement and further decarbonize our operations and our industry.”
About Wolf Carbon Solutions www.wolfcarbonsolutions.com
Wolf Carbon Solutions US LLC (Wolf Carbon Solutions) is a private company backed by Canada Pension Plan Investment Board (CPP Investments). Wolf Carbon Solutions is an affiliate of Wolf Midstream (Wolf), a $4 billion multi-faceted energy infrastructure organization based in Calgary, Alberta. The company is committed to transforming the future of carbon reduction through the development of world-scale CO2 infrastructure in the U.S. and Canada. Wolf constructed and operates the Alberta Carbon Trunk Line (ACTL) system – a fully-integrated, world-scale carbon capture, utilization and storage (CCUS) system that captures, transports and permanently sequesters CO2 that would otherwise be emitted to atmosphere. The ACTL system has safely delivered over two million tons of CO2 to permanent storage since the system began operations in 2020.
About ADM www.adm.com
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities, and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over.
Source: Corporate Release
Wolf Carbon Solutions
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ADM
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Jackie Anderson
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THE WOODLANDS, Texas--(BUSINESS WIRE)--#efrac--Evolution Well Services announces a long-term electric hydraulic fracturing contract with a Permian Basin operator to begin in Q4 2022. The contract will employ Evolution’s patented electric fracturing technology coupled with an innovative Simul-frac completions technique.
The electric fracturing technology will be fueled by 100% natural gas via aero-derivative turbines rather than conventional fleets that rely on diesel engines. By switching to a lower carbon fuel, the Evolution Well Services team will help reduce the GHG emissions required to complete wells in the Permian Basin. The contract highlights the operator’s focus on leveraging industry-leading technology to lower the emissions of its operations.
In addition to reducing the carbon footprint, the electric fleet is designed to provide a safer operation for the employees on the wellpad with roughly 50% less physical footprint on location and operations below 85db sound levels. The contract will also employ innovative high pressure hose technology that further minimizes the safety risks on pad and drives higher pumping efficiencies. With over six years of successful electric frac operating experience and two years of electric Simul-frac successes within Evolution, the teams are well-positioned to partner on continuous innovation within the completions industry.
“We could not be more excited that Evolution was chosen after an extensive, multi-year selection process. We look forward to providing high-efficiency, lower carbon, and safe Simul-frac operations for our new partners in the Permian Basin,” said Steven Anderson, President & Chief Executive Officer of Evolution Well Services.
ABOUT EVOLUTION WELL SERVICES
Evolution Well Services is the largest and most experienced provider of electric hydraulic fracturing services. Since inception in 2011, the company has completed over 40,000 stages with its patented electric frac technology across the United States. The company is focused on advancing fracturing technology through digital transformation of the well site & lower carbon technologies. For more information, visit https://evolutionws.com/
Nick Ruppelt
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281-296-1550
Utility Solution is First Smart Home Solution to Be Certified by EPA
PHILADELPHIA--(BUSINESS WIRE)--#AMI--SmartMark Communications announced today that the EPA has certified the BGE Smart Home Solutions as the first ENERGY STAR SHEMS product in the market. SmartMark Communications supported the BGE Connected Home and Small Business Demonstration technology trial and was a critical player in helping evaluate energy reduction by the devices through data collection and AMI energy use analysis.
SmartMark Communications is the leader in customer education strategies and solutions for utilities. The company has been supporting the advancement of customer facing technologies to improve energy management for more than two decades.
BGE serves more than 1.3 million electric customers and more than 680,000 gas customers in a diverse, 2,300-square-mile area encompassing Baltimore City and all or part of 10 central Maryland counties. It is an Exelon company.
“We believe that the success of the BGE smart home solution is contributed to the perfect balance of education, technology and customer support and we are thankful to SmartMark for helping us design a customer-centric program with impactful results for the utility,” said Sam duPont, Principial in BGE’s Utility of the Future Group. “It is exciting to demonstrate how a utility can leverage its AMI investments to further build customer facing tools to help improve energy management and customer service.”
To learn more about how SmartMark Communications is working with utilities to understand the benefits of smart homes, visit smartmarkglobal.com.
About SmartMark Communications, LLC
SmartMark Communications has redefined the role of traditional marketing communications companies and uses a blend of industry knowledge and business strategy to help organizations—public, private, and not for profit—shape industry. This unique blend of policy, communications and creative expertise is a critical component to successful storytelling. SmartMark’s passionate interest and deep domain expertise in the industries that it serves has allowed it to emerge as a leader in the conversation around innovation, technology adoption and transformation. To learn more visit www.smartmarkglobal.com.
Media:
Meredith Salefski
SmartMark Communications, LLC
615-864-7840
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, today was recognized on the annual JUST 100—a list of America’s best corporate citizens published by JUST Capital and its media partner CNBC. This is the company’s second consecutive year appearing on the list. AVANGRID improved its overall ranking from 78 in 2021 to 48 in 2022. AVANGRID is ranked second within the utility industry for its commitment to the environment and communities it serves. Additionally, AVANGRID is ranked fifth within the utility industry for its overall commitment to customers, ranking first in the industry in transparent communications with customers and beneficial products.
“Being recognized as one of America’s Most JUST Companies once again demonstrates that our ESG+F strategy and priorities are making a difference to our diverse stakeholders,” said CEO of AVANGRID Dennis V. Arriola. “We’re focused on delivering long term and sustainable value by investing in clean energy technologies, building an engaged and vibrant workforce, and operating under the highest ethical standards with a purpose-driven culture of accountability. This recognition by JUST again confirms our belief in doing business in a better and balanced way – doing well by doing good for our customers, employees, communities and shareholders.”
Through extensive, objective analysis, JUST Capital, in partnership with CNBC, evaluates and celebrates U.S. corporations that outperform on the issues that matter most to the American public – such as creating jobs in the U.S., paying a fair, living wage, prioritizing accountability to all stakeholders, protecting worker health and safety, providing benefits and work-life balance, cultivating a diverse and inclusive workplace, producing sustainable products, and protecting customer privacy.
“We’ve entered a new era of accountability where employees, customers, and investors want to understand if companies are not just talking the talk, but walking the walk to drive change on the critical issues of our time,” said Martin Whittaker, CEO of JUST Capital. “The companies featured in the 2022 JUST 100 are demonstrating that purpose and profits can go hand in hand by delivering value to all stakeholders, including shareholders.”
For their annual Rankings, JUST collects and analyzes corporate data to evaluate the 1,000 largest public U.S. companies across 20 stakeholder-focused Issues as identified through the most comprehensive ongoing public opinion research on Americans’ attitudes toward responsible corporate behavior, engaging more than 150,000 participants since 2015.
The full list of the 2022 JUST 100 and a comprehensive interactive ranking and benchmarking platform is available at www.justcapital.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and JUST Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
About JUST Capital: The mission of JUST Capital, an independent nonprofit, is to build an economy that works for all Americans by helping companies improve how they serve all their stakeholders – workers, customers, communities, the environment, and shareholders. We believe that business and markets can and must be a greater force for good, and that by shifting the resources of the $19 trillion private sector, we can address systemic issues at scale, including income inequality and lack of opportunity. Guided by the priorities of the public, our research, rankings, indexes, and data-driven tools help measure and improve corporate performance in the stakeholder economy. To learn more about how data-driven insights are creating a more just future for capitalism, visit: www.JUSTCapital.com.
MEDIA CONTACT:
Sarah Warren
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585-794-9253
DALLAS--(BUSINESS WIRE)--Lucid Energy Group (“Lucid”), the largest privately held natural gas processor in the Permian Basin, today announced the U.S. Environmental Protection Agency (“EPA”) has approved the company’s previously submitted monitoring, reporting and verification (“MRV”) plan to sequester carbon dioxide (“CO2”) from its Red Hills gas processing complex in Lea County, New Mexico. The plan, following subsequent approval by the Internal Revenue Service, will provide section 45Q tax credits for the sequestration and permanent storage of CO2 in Lucid’s existing and permitted disposal wells.
The MRV plan documents Lucid’s means of safely ensuring permanent carbon capture and storage (“CCS”) of CO2 removed from the natural gas stream during the processing and treating of natural gas from its customers. The plan is scalable and provides growth capacity, enabling Lucid to offer a lower-carbon-intensity service to its customers and reduced carbon footprint to its stakeholders.
“Since our entry to the Delaware Basin five years ago, Lucid has targeted investments in large-scale gas treating assets, which empower our customers to develop highly economic drilling locations with associated off-spec gas,” said Lucid CEO Mike Latchem. “This strategy has proven beneficial for all stakeholders, as Lucid currently removes more CO2 from Permian Basin shale production than any other midstream operator. In turn, Lucid is the perfect candidate to develop the largest CCS project in the Permian Basin by simply modifying and expanding our existing operations. We are committed to finding safe, creative and effective ways to serve the growing needs of our customers while reducing our environmental footprint.”
About Lucid Energy Group
Lucid Energy Group is the largest privately held natural gas processor in the Permian Basin, providing the full range of gas midstream services to more than 50 customers in New Mexico and West Texas. Lucid is supported by growth capital commitments from a joint venture formed by Riverstone Global Energy and Power Fund VI, L.P., an investment fund managed by Riverstone Holdings LLC, and investment funds managed by Goldman Sachs Asset Management. Please visit www.lucid-energy.com for more information.
Casey Nikoloric
TEN|10 Group
303.433.4397, x101 o
303.507.0510 m
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HOUSTON--(BUSINESS WIRE)--Today, Harvest Midstream (Harvest) announced the signing of a Purchase and Sale Agreement (PSA) to acquire the remaining interest in Arrowhead ST Holdings, LLC (ASTH) from its joint venture partner. Harvest is already the operator of ASTH and a 25% owner of the joint venture. ASTH, a fully integrated Eagle Ford midstream business, spans the most active areas of the Eagle Ford. The system delivers to numerous crude export docks and into Flint Hills Corpus Christi and Valero Three Rivers refineries. This is part of Harvest’s ongoing efforts to expand its suite of crude oil transportation and logistics services for upstream and downstream customers.
“This is another example of our continued commitment to South Texas and the Gulf Coast. When we close this transaction, we will own 100% of these assets that we have safely and reliably operated for over a decade,” said Jason Rebrook, CEO of Harvest Midstream. “This is an exciting opportunity for Harvest to continue to grow and provide first-in-class service. We believe strongly in the outlook for the Eagle Ford as a top producing oil basin.”
The ASTH system includes about 515 miles of pipeline with a total throughput capacity of 380 MBbl/d. The system is a key link between the Eagle Ford Basin producers and Corpus Christi, the leading crude export market in the United States.
Pending regulatory approval, the sale is expected to close in the first quarter of 2022.
Harvest Midstream:
Harvest Midstream is a privately held midstream service provider based in Houston, TX that operates various crude oil and natural gas gathering, storage, transportation, treatment and terminalling assets across the United States.
Justin Furnace
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PHOENIX--(BUSINESS WIRE)--KORE Power, the U.S.-based developer and manufacturer of battery cell technology, today announced that Seema Phull has joined the company as chief operations officer. As COO, Ms. Phull will play a critical role in the manufacturing and delivering of KORE’s U.S.-made lithium-ion battery cells and the operation of the KOREPlex battery manufacturing facility in Arizona.
Ms. Phull is a transformational leader with more than twenty years of management consulting and industry experience in the high-tech manufacturing, consumer goods, and aerospace defense sectors, focusing on global supply chains and operations. Previously, she was the founder and CEO of ForeOptics, a management consultancy, and VP of Supply Chain Strategy and Integration at Honeywell Aerospace.
“KORE Power is leading a new era in domestic, clean energy manufacturing in Arizona’s Sustainable Valley,” said Lindsay Gorrill, KORE Power CEO. “Seema’s vision and experience leading high-tech organizations will be invaluable to us as KORE enters the next phase of its growth strategy.”
“By bringing American innovation and manufacturing strength to the development of modern battery cells, KORE Power is responding to the growing supply chain demands of the e-mobility and energy storage sectors,” Phull said. “I look forward to helping KORE deliver on this opportunity.”
In the coming months, KORE Power will announce new partnerships with electric mobility and energy storage customers, deploy the first Nomad Transportable Power System and begin the construction of the KOREPlex battery cell manufacturing facility near Phoenix.
Ms. Phull serves on the boards of several early-stage technology companies and mentors woman- and minority-owned businesses. She volunteers with non-profit organizations to help individuals with their life transitions and operations. She earned a Master's degree from Johns Hopkins University.
About KORE Power, Inc.
KORE Power, Inc., is the leading U.S.-based developer of battery cell technology for the clean energy industry. With clients in energy storage, e-mobility, utility, industrial and mission-critical markets, KORE Power provides the backbone for decarbonization across the globe. Optimized by its battery management system, KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs.
KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology and Tier 1 product availability. Focused on building sustainable communities, clean energy jobs and green economic expansion, KORE Power is proud to offer a functional solution to real-world problems and fulfill market demand to deliver a zero-carbon future. The KOREPlex is coming to the Sustainable Valley in 2023.
For more information, visit www.korepower.com.
Cautionary Statement
Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives and expectations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. Forward-looking statements included in this news release are made as of the date of this news release and KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
David Jakubiak This email address is being protected from spambots. You need JavaScript enabled to view it.
312-285-9622
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208-758-9392
WILLIAMSBURG, Va.--(BUSINESS WIRE)--Index AR Solutions, a leading creator of digital workforce training, announced that it has joined the Center for Energy Workforce Development (CEWD) as an Associate Member, supporting the organization’s objective to build a skilled and diverse workforce pipeline. Index is one of CEWD’s first three Associate Members which include Fortune Global 500 professional services firm Accenture and DitchWitch, a leading provider of underground utility construction equipment.
Formed in March 2006, the CEWD is a non-profit consortium of electric, natural gas, nuclear, and renewable energy companies, and their associations, committed to the development of a skilled, diverse energy workforce.
“We welcome Index to the CEWD community and are inspired by their passion for using technology to reimagine worker training and education,” said Missy Henriksen, Executive Director at CEWD. “Collaboration is in the Index DNA, and we are excited to have them as a key partner who shares our commitment to moving the energy workforce forward.”
Index is an active participant in the CEWD mission. Last month, Index Senior Director of Client and Corporate Development Chris Biernacki co-presented at the CEWD’s 2021 Energy Workforce Development Summit alongside MidAmerican Energy’s Director of Corporate Training, Andrea Bruxvoort. MidAmerican serves 774,000 natural gas customers and 795,000 electric customers throughout Iowa, Illinois, South Dakota and Nebraska.
The Summit session with MidAmerican showcased how Index mobile apps and eBooks provide a powerful new way of teaching and engaging today’s workers. Those technologies are being put to use today and helping major utilities address a variety of staffing and education challenges.
“By switching up the way we deliver information, we can align the best training method with each trainee’s learning style and preference,” said Bruxvoort. “Our employees can better retain information and recall it when they need it, leading to a higher level of preparedness and ultimately a safer work environment.”
Organizations use Apprentice Program solutions from Index to create multimodal digital curriculums that streamline and replace legacy training materials. The solutions help organizations address remote learning requirements, the increase in skilled worker retirement and more.
“As a CEWD member, we look forward to collaborating with Missy and the other members to solve pressing turnover, recruitment and education challenges,” said Dan Arczynski, CEO at Index AR Solutions.
For more information on Apprentice Program solutions visit indexarsolutions.com/apprentice-programs.
About Index AR Solutions
Index AR Solutions is an American enterprise eBook and augmented reality mobile application provider creating custom and off-the-shelf products that make workers safer, more capable and more productive. Learn more about Index AR Solutions at IndexARSolutions.com.
About the CEWD
Formed in March 2006, the Center for Energy Workforce Development (CEWD) is a non-profit consortium of electric, natural gas and nuclear utilities and their associations, contractors, unions, and educators united in building a skilled workforce pipeline that will meet future industry needs. Learn more about CEWD at cewd.org.
Press:
Consociate Media for Index AR Solutions
Brian Harris
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Former Ameriflight Executives, Jeff Drees and David DeRose, and experienced cargo industry professional Lee Tomlinson join to establish airline operations
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--#AdvancedAutopilot--Reliable Robotics, a leader in automated aircraft systems, today announced the appointments of David DeRose as Director of Finance and Lee Tomlinson as Director of Operations to the company’s fully owned Part 135 airline subsidiary in preparation for commercial cargo flights. DeRose and Tomlinson join Jeff Drees, Director of Cargo Strategy, to begin cargo services this year. Reliable Robotics will continue to grow its airline team and operational experience as part of a phased certification approach to bring its Remotely Operated Aircraft System and services to market.
“We are working with leading cargo carriers eager to integrate remotely piloted systems into their fleets,” explained Jeff Drees, Director of Cargo Strategy for Reliable Robotics and former Co-owner and Chief Commercial Officer of Ameriflight. “By demonstrating crewed air cargo delivery first, we will build a solid foundation for the transition to remotely operated flights.”
Investing in an Experienced Team
Reliable Robotics is focused on launching a new type of airline powered by advanced automation. Starting from the ground up, the airline team is prioritizing hiring world-class talent and establishing safety management and operational procedures. Drees, DeRose and Tomlinson bring a combined 80-plus years of strategic and tactical expertise in the air cargo industry and will build the business while developing operational procedures specific to remotely piloted aircraft that are aligned with the company’s certification plans.
“We’ve taken deliberate steps to recruit a reputable team and further develop our experience in the air cargo sector, but certifying aircraft systems for safe routine operations takes time,” said Robert Rose, Co-founder and CEO of Reliable Robotics. “We will introduce automation into the airline operation once we have proven to ourselves and the FAA that these systems can be deployed safely for commercial use.”
Jeff Drees, Director of Cargo Strategy
Drees will lead cargo operations and recruit key hires for the Part 135 subsidiary. He spent 40 years in the aviation industry starting as a pilot and spanning all aspects of airline operations. Drees served as Chief Commercial Officer for Ameriflight and oversaw more than 1,500 domestic and international departures per week while the company was flying over 75,000 hours per year. He managed customer relationships with FedEx, UPS and DHL, a large bank consortium and nuclear medicine organizations with time-sensitive deliveries. During his 35-year tenure, Drees became a co-owner of the company and also held the position of Executive Vice President of Operations.
David DeRose, Director of Finance
DeRose will lead finance for the new airline subsidiary. He has spent much of his career in aviation including 25 years at Ameriflight. He became a co-owner of the airline, and in his roles as Executive Vice President and Chief Financial Officer, DeRose provided strategic vision and established formal policies, procedures and reporting metrics for all operational departments across 700 employees. Notably, he led the acquisition and integration of airlines, and he was key in the company’s management buyout and subsequent sale. Ameriflight became the biggest 135 cargo carrier in the world, operating 175 aircraft in the U.S. and Puerto Rico for the largest logistics integrators and all overnight shippers. DeRose also has significant aircraft purchase, lease and financing experience participating in over 100 transactions.
Lee Tomlinson, Director of Operations
Tomlinson will run the airline and serve as the contact with the Federal Aviation Administration. His operational experience in the cargo feeder industry spans over 20 years. Tomlinson has worked with numerous cargo airlines including IFL Group, Mountain Air Cargo, West Air, American MedFlight, serving as line pilot, Chief Pilot and Director of Operations. He has Part 135 and Part 121 experience and has flown across the U.S. operating various airframes such as the Cessna 208, King Air 350, ATR, Metroliner, Convair 5800 and F27. He is experienced in conducting comprehensive audits to ensure regulatory compliance in all key areas including operations specifications, manuals and safety management to meet local, state and federal requirements.
Today commercial aircraft typically fly through larger hubs, while many rural and remote communities are not serviced regularly. Reliable Robotics is building a remotely piloted system that has the capability to land on almost any airstrip, enabling point-to-point deliveries to underserved regional airports. Once the system is certified for commercial use, cargo operators will be able to expand direct routes to more locations and gain the flexibility to fly more frequently with remotely piloted aircraft. The versatile system can be adapted to almost any aircraft, including new electric and hybrid electric propulsion platforms.
Reliable Robotics recently announced Series C funding to continue to expand its team, support certification plans for the Cessna 208 program and launch cargo service.
To learn more and see open roles, visit https://reliable.co/careers/
About Reliable Robotics
Reliable Robotics launched in 2017 to bring certified autonomous vehicles to commercial aviation as soon as possible. The company’s automation system enables remote operation of any aircraft type and expands access to more locations. Reliable’s vision is to transform the way we move goods and people around the planet with safer, more convenient and more affordable air transportation.
The company is headquartered in Mountain View, CA and has a distributed global workforce. Learn more and see job openings at https://reliable.co
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DUBLIN--(BUSINESS WIRE)--The "Video Inspection Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The global video inspection equipment market is expected to grow from US$ 1,311.63 million in 2021 to US$ 1,834.35 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021-2028.
The off-shore and on-shore businesses within the oil & gas industry are growing considerably. The inspection of pipelines using camera systems is economical and fast for various industries, such as oil & gas. Several companies, such as Visioprobe, provide waterproof industrial inspection cameras for inspecting caissons, pipelines, tanks, and pressure vessels for corrosion. The gas pipe involves challenges in both, metal and plastic piping, where video inspection plays a crucial role. Compliance with standards in the oil & gas industry for pipe inspection is stimulating the market growth of video inspection equipment because of operations, such as production services, drilling, reservoir engineering, well servicing, refining, and transportation of petroleum products. All the above-mentioned operations require timely pipeline inspection.
Therefore, the entire oil & gas inspection industry runs according to stringent standards and endeavors to have efficient running equipment. Some of the oil & gas industry applications that require video inspection include burners and tips, compressors, pumps, gas lines, furnace stacks, gas and steam turbines, waste heat boiler stacks, and steam lines.
Maverick Inspection Ltd. provides CSA-rated explosion-proof video inspection equipment for various applications, such as turbine blades, exchanger tubes, and process troubleshooting. The company also offers industrial drone inspections with collision tolerant drones, especially designed for internal inspections.
The video inspection equipment market is segmented on the basis of component, application, end user, and geography. Based on component, the market is segmented into cameras, transporters, monitors & recorders, software, and others. The cameras segment represented the largest share of the overall market in 2020. In terms of application, the video inspection equipment market is segmented into drain & sewer, electrical conduit & ducts, pipeline, and others. In 2020, the drain & sewer segment accounted for the substantial share of the market. Based on end user, the market is segmented into oil & gas, manufacturing & construction, food & beverages, chemicals & pharmaceuticals, and others. The oil & gas segment represented the largest market share in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
Spain, Italy, Germany, the UK, and France are among the worst affected member states in Europe due to COVID-19 outbreak. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. The region is a major manufacturing and industrial hub for sectors such as automotive, construction, energy & power, pharmaceuticals, and food & beverages. Various member states in Europe, such as Italy, Spain, France, the UK, and Germany, have implemented drastic measures and travel restrictions to limit the spread of the novel coronavirus among its citizens.
The video inspection equipment market in Europe witnesses increased demand and growth owing to the stringent quality and safety industry/government regulations in various countries. The lockdown has adversely affected new industrial projects and investments in various European countries, thus hindering the growth of the video inspection equipment market in this region. In addition, the video inspection equipment manufacturers in this region faced the supply problems due to the disrupted supply of raw materials and electronic component from China.
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