No Change to 2022 Financial Guidance
ATLANTA--(BUSINESS WIRE)--Williams Industrial Services Group Inc. (NYSE American: WLMS) (“Williams” or the “Company”), a construction and maintenance infrastructure services company, today provided additional information related to its 2022 financial guidance issued on January 28, 2022. At that time, the Company disclosed that one of its largest customers had transferred certain work to a competitor. This has continued to occur, such that several multi-year contracts for nuclear decommissioning, currently worth approximately $360 million in backlog for 2022 through 2029, are expected to be lost, including $30 million for 2022 and $50 million for 2023. However, the Company’s previously issued guidance incorporated the $30 million impact for 2022 and thus remains unchanged. The Company is pursuing legal action, where appropriate, against ex-Williams employees and the competitor involved in this situation.
“We regret the loss of this long-term nuclear decommissioning work in our backlog,” said Tracy Pagliara, President and CEO of Williams. “On the other hand, the contracts in question did not represent a significant amount of our gross profit in any particular year – including the current one. We remain committed to keeping as much business with this customer as possible. At the same time, we continue to aggressively target other growth opportunities within our end markets, which are expected to expand in the future as a result of the Infrastructure Act of 2021. With this in mind, we are confident in our 2022 guidance and our ability to win new awards, in higher-margin areas, to offset such business going forward. Importantly, these losses were not tied to performance and thus do not affect our reputation or diminish our ability to serve our customers across the board. Our balance sheet and liquidity remain strong, as does our resolve to return Williams to improved results in the quarters to come.”
Williams’ total backlog as of December 31, 2021, excluding the lost decommissioning contracts, was approximately $275 million.
About Williams
Williams Industrial Services Group has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company is a leading provider of infrastructure related services to blue-chip customers in energy and industrial end markets, including a broad range of construction maintenance, modification, and support services. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers.
Additional information about Williams can be found on its website: www.wisgrp.com.
Forward-looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the term set forth in the Private Securities Litigation Reform Act of 1995. The forward-looking statements include statements or expectations regarding the Company’s ability to perform in accordance with guidance, build and diversify its backlog and convert backlog to revenue, realize opportunities, including receiving contract awards on outstanding bids and successfully pursuing future opportunities, benefit from potential growth in the Company’s end markets, including from increased infrastructure spending by the U.S. federal government, and successfully achieve its growth, strategic and business development initiatives, including decreasing the Company’s outstanding indebtedness, future demand for the Company’s services, and expectations regarding future revenues, cash flow, and other related matters. These statements reflect the Company’s current views of future events and financial performance and are subject to a number of risks and uncertainties, some of which have been, and may further be, exacerbated by the COVID-19 pandemic, including the Company’s level of indebtedness and ability to make payments on, and satisfy the financial and other covenants contained in, its debt facilities, as well as its ability to engage in certain transactions and activities due to limitations and covenants contained in such facilities; its ability to generate sufficient cash resources to continue funding operations and the possibility that it may be unable to obtain any additional funding as needed or incur losses from operations in the future; exposure to market risks from changes in interest rates; failure to maintain effective internal control over financial reporting and disclosure controls and procedures; the Company’s ability to attract and retain qualified personnel, skilled workers, and key officers; failure to successfully implement or realize its business strategies, plans and objectives of management, and liquidity, operating and growth initiatives and opportunities, including its expansion into international markets and its ability to identify potential candidates for, and consummate, acquisition, disposition, or investment transactions; the loss of, or reduction in business from, one or more of its significant customers; its competitive position; market outlook and trends in the Company’s industry, including the possibility of reduced investment in, or increased regulation of, nuclear power plants, declines in public infrastructure construction, and reductions in government funding; the failure of the Company and its end markets to benefit from the recently enacted 2021 Infrastructure Act ; costs exceeding estimates the Company uses to set fixed-price contracts; harm to the Company’s reputation or profitability due to, among other things, internal operational issues, poor subcontractor performances or subcontractor insolvency; potential insolvency or financial distress of third parties, including customers and suppliers; the Company’s contract backlog and related amounts to be recognized as revenue; its ability to maintain its safety record, the risks of potential liability and adequacy of insurance; adverse changes in the Company’s relationships with suppliers, vendors, and subcontractors; compliance with environmental, health, safety and other related laws and regulations; limitations or modifications to indemnification regulations of the U.S. or Canada; the Company’s expected financial condition, future cash flows, results of operations and future capital and other expenditures; the impact of general economic conditions including the current economic disruption and any recession resulting from the COVID-19 pandemic; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, and cash flows, including the potential for additional COVID-19 cases to occur at the Company’s active or future job sites, which potentially could impact cost and labor availability; the impact of supply chain constraints and labor shortages related to the COVID-19 pandemic; the uncertainty surrounding and the potential impact of the federal vaccination mandate on the Company’s labor supply and future results of operations, as well as any impact of such mandate on the Company’s customers; information technology vulnerabilities and cyberattacks on the Company’s networks; the Company’s inability to efficiently implement IT or ERP system upgrades; the Company’s failure to comply with applicable laws and regulations, including, but not limited to, those relating to privacy and anti-bribery; the Company’s participation in multiemployer pension plans; the impact of any disruptions resulting from the expiration of collective bargaining agreements; uncertainties surrounding any pending litigation; the impact of natural disasters and other severe catastrophic events (such as the ongoing COVID-19 pandemic); the impact of changes in tax regulations and laws, including future income tax payments and utilization of net operating loss and foreign tax credit carryforwards; volatility of the market price for the Company’s common stock; the Company’s ability to maintain its stock exchange listing; the effects of anti-takeover provisions in the Company’s organizational documents and Delaware law; the impact of future offerings or sales of the Company’s common stock on the market price of such stock; expected outcomes of legal or regulatory proceedings and their anticipated effects on the Company’s results of operations; and any other statements regarding future growth, future cash needs, future operations, business plans and future financial results.
Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the section of the Annual Report on Form 10-K for its 2020 fiscal year titled “Risk Factors.” Any forward-looking statement speaks only as of the date of this press release. Except as may be required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and you are cautioned not to rely upon them unduly.
Investor Contact:
Chris Witty
Darrow Associates
646-345-0998
This email address is being protected from spambots. You need JavaScript enabled to view it.
HARTFORD, Conn. & BOSTON--(BUSINESS WIRE)--Eversource Energy will webcast a conference call with financial analysts on Thursday, February 17, 2022, beginning at 8 a.m. Eastern Time, at which senior management will discuss the company's financial performance through 2021 and the outlook for 2022.
This listen-only, live audio presentation will be accessible from the Investors section of the Eversource website at https://www.eversource.com/Content/general/about/investors/presentations-webcasts.
Eversource (NYSE: ES) transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire. Celebrated as a national leader for its corporate citizenship, Eversource is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2021 and recognized as one of America’s Most JUST Companies. The #1 energy efficiency provider in the nation, Eversource harnesses the commitment of approximately 9,200 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.
INVESTOR CONTACT:
Jeffrey R. Kotkin
860-665-5154
The $18.6 million project saw more than 8,000 streetlights in the Portland Metro region replaced with energy-efficient LEDs
FRAMINGHAM, Mass. & SALEM, Ore.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its streetlight conversion pilot program with the Oregon Department of Transportation (ODOT). The $18.6 million project was funded by an energy savings performance contract (ESPC) and replaced more than 8,000 high-pressure sodium lighting fixtures across the greater Portland area with LEDs. Ameresco also upgraded lighting in 13 tunnels within ODOT Region 1.
The new LED streetlights are dark-sky friendly with a color temperature of 3,000 to 4,000 Kelvin, use 50 percent less energy than traditional highway and tunnel lighting fixtures and will reduce carbon emissions by an estimated 3,500 metric tons annually. Upgraded streetlights line the highways in Region 1 of the ODOT system, which includes the Clackamas, Hood River, Multnomah, eastern Washington counties and the Metro interstate bridges.
“From the start, we were thrilled to partner with Ameresco on a street lighting project that would save long term maintenance costs and enhances our commitment to reducing carbon emissions through renewable solutions. We couldn’t have foreseen all of the challenges but thanks to Ameresco, we successfully navigated hurdles as they came and the project was delivered in a seamless and smooth manner,” said Elizabeth Papadopoulos, Consultant Project Manager, ODOT.
Ameresco worked collaboratively with ODOT to develop a plan that minimized public traffic and safety concerns while adhering to ODOT directed design standards. The Ameresco team also worked in coordination with the major freight stakeholder on the project, Mobility Advisor Committee, to successfully complete the streetlight conversion project within the construction term.
“Working with the Oregon Department of Transportation on this project has been immensely rewarding as the solutions implemented are long-lasting and will provide benefits to commuters for years to come,” said Britta MacIntosh, Senior Vice President of Ameresco. “The LED lights we utilized are outfitted with lower color temperatures, which means that they won’t need to be replaced for at least 15 to 20 years, a much longer lifespan than the traditional two to four-year lifecycle of high-pressure lights.”
Construction began in May 2020 and officially reached completion in December 2021.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About The Oregon Department of Transportation
The Oregon Department of Transportation provides a safe and reliable multimodal transportation system that connects people and helps Oregon’s communities and economy thrive.
The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of September 30, 2021.
Media Contact:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Matt Sheehy to Become President and CEO, William Moler Appointed Non-Executive Chairman
LEAWOOD, Kan. & DENVER--(BUSINESS WIRE)--Tallgrass Energy, LP today announced that the Board of Directors of the general partner (“the Board”) has appointed William R. (Bill) Moler to Non-Executive Chairman of the Board effective July 1, 2022. At that time, Moler will step down as CEO and Tallgrass President Matthew (Matt) Sheehy will assume the role of President and Chief Executive Officer. Also effective July 1, Moler will become a Senior Advisor for Blackstone Infrastructure Partners.
“I have worked with Matt since our company’s inception,” Moler said. “I am excited about Tallgrass’ prospects and growth opportunities with him at the helm as President and CEO. During Matt’s tenure at Tallgrass, he has held vital roles as General Manager of Rockies Express Pipeline, as Chief Commercial Officer, and as President. Matt has had a long track record of success and has built a team of extremely talented individuals that will continue to advance our company’s initiatives in the coming years. The Board, our investors and I are confident that Matt is the right person to lead this company into the future.”
Tallgrass Director Matthew Runkle, a Senior Managing Director in Blackstone's Infrastructure Group, added, “Matt’s broad industry experience, knowledge of Tallgrass and clear leadership skills position him well for future success. As for Bill, Blackstone is incredibly pleased that he will remain involved with Tallgrass and its team in its next phase of growth. With more than three decades of experience and a deep expertise in the midstream and energy transition sectors, Bill has been invaluable at Tallgrass and we look forward to his continued leadership in his new roles.”
“I am thrilled to move into the Board Chairman role and to be a Senior Advisor to Blackstone,” Moler said. “Together we have built an outstanding Board with diverse knowledge of the global energy industry, and I look forward to continuing our work in a different capacity as we navigate the future.”
“I want to congratulate Bill on tackling the next phase of his career,” Sheehy said. “He leaves an incredible legacy at Tallgrass, and I’m honored to follow in his footsteps. Bill’s tireless efforts and steady leadership since 2012 have been tremendously appreciated by the entire Tallgrass Team, and we are thrilled with his continued involvement as Chairman of the Board. As President and CEO, I look forward to building on Bill’s legacy as Tallgrass looks to play an integral role in accelerating the energy transition.”
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Visit Tallgrass.com to learn more.
Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Investor and Financial Inquiries
Andrea Attel, 913-928-6012
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--$CRGY--Crescent Energy Company (NYSE: CRGY) (“we” or “our”) announced today that, subject to market conditions, its indirect subsidiary Crescent Energy Finance LLC (the “Issuer”) intends to offer for sale in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers $150 million aggregate principal amount of 7.250% Senior Notes due 2026 (the “Notes”). The Notes are being offered as additional notes under the indenture (the “Indenture”) pursuant to which the Issuer issued, on May 6, 2021, $500 million aggregate principal amount of 7.250% Senior Notes due 2026 (the “Existing Notes”). The Notes will have substantially identical terms, other than the issue price, the issue date and the first interest payment date, as the Existing Notes, and the Notes and the Existing Notes will be treated as a single class of securities under the Indenture. The Notes mature on May 1, 2026 and pay interest at the rate of 7.250% per year, payable on May 1 and November 1 of each year. The Issuer intends to use the net proceeds from this offering to repay a portion of the amounts outstanding under its revolving credit facility.
The Notes have not been registered under the Securities Act, or any state securities laws, and, unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuer plans to offer and sell the Notes only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.
This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Crescent Energy Company
Crescent Energy Company is a U.S. independent energy company with a portfolio of assets in basins across the lower 48 states.
Cautionary Statement Regarding Forward-Looking Information
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases “should”, “could”, “may”, “will”, “believe”, “think”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “target”, “goal” and similar expressions identify forward-looking statements and express our expectations about future events. This communication includes statements regarding this private placement and the use of proceeds therefrom that may contain forward-looking statements within the meaning of federal securities laws. We believe that our expectations are based on reasonable assumptions; however, no assurance can be given that such expectations will prove to be correct. A number of factors could cause actual results to differ materially from the expectations, anticipated results or other forward-looking information expressed in this communication, including liquidity and financial market conditions, adverse market conditions, governmental regulations, and the impact of world health events such as the ongoing COVID-19 pandemic. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, actual future results could differ materially from our expectations due to a number of factors, including, but not limited to, those items identified as such in the Final Prospectus, dated November 3, 2021, filed by Crescent Energy Company with the U.S. Securities and Exchange Commission.
Many of such risks, uncertainties and assumptions are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. We do not give any assurance (1) that we will achieve our expectations or (2) concerning any result or the timing thereof.
All subsequent written and oral forward-looking statements concerning this offering, the use of proceeds therefrom, Crescent Energy Company and the Issuer or other matters and attributable thereto or to any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. We assume no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
Emily Newport
This email address is being protected from spambots. You need JavaScript enabled to view it.
Integrates with Mitsubishi Power’s Hydaptive Standard Green Hydrogen Packages
LAKE MARY, Fla.--(BUSINESS WIRE)--#ChangeInPower--Mitsubishi Power Americas, Inc. has signed a purchase contract with HydrogenPro AS (OSE: HYPRO) for an initial delivery of 40 electrolyzers.
The HydrogenPro electrolyzer system will use wind and solar energy to produce green hydrogen by splitting water into hydrogen and oxygen through electrolysis. The green hydrogen will be stored and used for power generation, transportation and industrial applications.
This contract strengthens the partnership between Mitsubishi Power and HydrogenPro, building on their Herøya, Norway project for a first of its kind electrolyzer system. The cooperation between companies to rapidly develop hydrogen technology with a common focus to deploy utility-scale green hydrogen in the U.S. will facilitate achieving global decarbonization targets.
“This is a major breakthrough for HydrogenPro. It demonstrates that our technology is well suited for large-scale projects, making affordable, reliable and clean hydrogen widely available to customers. We are proud to partner with Mitsubishi Power in delivering technological advancements to attain a carbon-free hydrogen society,” said Elling Nygaard, CEO of HydrogenPro. “Today’s announcement is a confirmation of the significant potential that resides in the U.S. market for us.”
Bill Newsom, President and CEO of Mitsubishi Power Americas, said, “Mitsubishi Power’s electrolyzer purchase further supports our mission to provide power generation and energy storage solutions to our customers, empowering them to affordably and reliably combat climate change and advance human prosperity. The electrolyzer system will work within our Hydaptive™ packages — the world’s first standard green hydrogen integration packages — to help accelerate the path to decarbonization. This order shows our confidence in HydrogenPro’s electrolyzer system due to work begun last year with HydrogenPro to construct and validate one of the world’s largest single stack high-pressure alkaline electrolyzer systems in Norway. Together with our customers and suppliers, we are creating a Change in Power.”
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,300 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.
About HydrogenPro AS
HydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001, ISO 45001 and ISO 14001 certified.
The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.
Our core product is the alkaline high-pressure electrolyser. With the new electrode technology, we are able to increase the efficiency of each unit by 14% to reach 93% of the theoretical maximum. This is a significant step forward as the cost of electric power, depending on market prices, amounts to 70–90% of the cost of producing hydrogen, the value of such increased efficiency equals approximately the investment cost for the entire plant in a Total Cost of Operation perspective. The Company is targeting a production cost for green hydrogen of USD 1.2 per kg.
Christa Reichhardt
Mitsubishi Power
+1 407-484-5599
This email address is being protected from spambots. You need JavaScript enabled to view it.
Martin T. Holtet
HydrogenPro
+47 92 24 49 02
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP), a subsidiary of Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG), announced today that Substantial Completion of Train 6 at the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the “SPL Project”) was achieved on February 4, 2022. Commissioning is complete and Cheniere’s engineering, procurement and construction partner, Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) has turned over care, custody, and control of Train 6 to Cheniere Partners.
Cheniere Partners and Bechtel have now declared Substantial Completion on all six liquefaction trains at the SPL Project ahead of each train’s guaranteed completion date and within project budgets. With the achievement of Substantial Completion, financial results of liquefied natural gas (“LNG”) sales from Train 6 going forward will be reflected in the statement of operations of Cheniere Partners and its applicable affiliates.
“The accelerated completion of Train 6 once again reflects the world-class standard of execution consistently achieved by the Cheniere and Bechtel teams, and we are proud to have the six train vision of Sabine Pass completed safely, ahead of schedule and on budget,” said Jack Fusco, Chairman, President and CEO of Cheniere Partners. “With nine total trains across both the Sabine Pass and Corpus Christi projects, the Cheniere liquefaction platform is the second largest in the world, reliably providing our global customer base with clean, secure and affordable energy. We look forward to opportunities to build upon our platform with disciplined, brownfield growth at both sites in the future.”
“Cheniere Partners plays a vital role in delivering reliable and safe energy to communities around the world,” said Brendan Bechtel, Chairman and CEO of Bechtel. “For us to be involved in supporting the development of these extraordinary projects is a great source of pride and we’re honored to help bring Cheniere’s vision to reality.”
“We have built a great partnership, based on trust and shared goals, that continues to deliver cleaner and more affordable energy for an ever-rising global demand for lower carbon alternatives,” added Paul Marsden, President of Bechtel Energy.
About Cheniere Partners
Cheniere Partners owns the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, which has natural gas liquefaction facilities consisting of six operational liquefaction Trains, with a total production capacity of approximately 30 mtpa of LNG. The Sabine Pass LNG terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers, and two marine berths with a third marine berth under construction. Cheniere Partners also owns the Creole Trail Pipeline, which interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines.
For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere Partners’ financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, and (vii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners’ actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners’ periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements.
Cheniere Energy Partners, L.P.
Investors
Randy Bhatia
713-375-5479
Frances Smith
713-375-5753
Media Relations
Eben Burnham-Snyder
713-375-5764
DUBLIN--(BUSINESS WIRE)--The "Managed Pressure Drilling Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The global managed pressure drilling market is expected to grow from US$ 4,298.97 million in 2021 to US$ 6,004.50 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021-2028.
The elevation of the use of modern technology for high-pressure, high-temperature (HPHT) wells drilling is expected to create an opportunity for using managed pressure drilling equipment in the coming years. The drilling activities experience many problems, such as circulation loss, stuck pipe, twisting off, kick, or loss scenarios. Thus, the advanced drilling equipment are used for safe drilling environment.
Further, the number of high-pressure, high-temperature (HPHT) wells has been rising year on year, and many more are planned for the near future. Extreme conditions in these wells trigger the potential for disaster and further minimize the margin of error. Managed pressure drilling is usually used in the HPHT well drilling activities as the equipment helps resolve these issues by improving penetration rate, avoiding kick or loss, narrowing passage window drilling, managing mud programs, allowing early identification of wellbore ballooning, ensuring high efficiency, and reducing non-productive time. Thus, the suitability of managed pressure drilling technique for high-pressure, high-temperature (HPHT) well drilling is providing significant growth opportunities for the managed pressure drilling equipment providers.
Impact of COVID-19 Pandemic on Managed Pressure Drilling Market
The COVID-19 pandemic has shaken several industries across the world. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has adversely affected economies and countless industries in various countries. The lockdown imposition has also reduced the production of commodities, goods, and services.
In 2020, the COVID-19 pandemic negatively influenced the oil industry owing to the considerable disruptions in the supply chain activities in the industry coupled with the restrictions on international trade by several countries in the wake of the pandemic. Furthermore, the global oil prices plummeted significantly owing to the limited demand and continuous production by the oil producing countries added to the considerable decline in production activities among the major oil producing countries. Consequently, the discontinuation of oil extraction activities virtually disrupted the demand for managed pressure drilling market. As a result, during the early months of 2020, several countries witnessed a reduction in the demand for managed pressure drilling due to the implementation of lockdown in several countries because of the COVID-19 pandemic, which hindered the global managed pressure drilling market growth.
In 2021, with the uplifting of lockdown and vaccination processes, the manufacturing and construction companies have started working again. Therefore, oil production and the demand for managed pressure drilling equipment and machinery are growing, which would propel the growth of the global managed pressure drilling market in the coming years.
A few key companies operating in the managed pressure drilling market are Ensign Energy Services; Archer; Blade Energy Partners; Nabors Industries Ltd.; Air Drilling Associates, Inc.; ADS Services, LLC; Halliburton Energy Services, Inc.; Schlumberger Limited; Weatherford International plc; and NOV Inc.
Reasons to Buy
Market Dynamics
Drivers
Restraints
Opportunities
Future Trends
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/hnb4it
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
GREENFIELD, Ind.--(BUSINESS WIRE)--As the urgent, time-sensitive issues of hunger and climate change lead headlines around the world, Elanco Animal Health (NYSE: ELAN) announces two new resources aimed at helping the cattle industry make a positive impact.
According to the United Nations, the world only has until 2030 – just eight years – to curb emissions or see irreversible damage to the planet1. Meanwhile, the World Health Organization shows a full 60% of the world’s population lacked proper nutrition in 2020, either through inadequate year-round access to nutrition2 or the wrong nutrition3, leading to problems ranging from hunger and malnutrition to obesity. These statistics are driving significant increased focus on the footprint and sustainability of many industries. They’re also creating value creation opportunities for industries, like animal agriculture, that can make an impact.
“We believe environmental sustainability is the next era of opportunity for livestock production,” said Jeff Simmons, president and CEO of Elanco Animal Health. “We have to empower our farmers and ranchers with innovation, tools and insights to help them create value and make a difference on these societal issues. We cannot solve these global challenges this fast any other way. We need innovation. We need better regulatory pathways to speed adoption. We need common metrics and an ability to measure progress.”
The stakes have never been higher, and Simmons addressed thousands of producers at the National Cattleman’s Beef Association annual meeting outlining significant advancements in Elanco’s efforts to move from commitments to action. The company has pledged to be a leading partner in helping its customers reach Net Zero emissions through four key areas: Innovation, Analytics, Value Creation, and Reputation Narrative. Elanco today announces forward-progress in both Analytics and Value Creation.
Analytics: Creating a Platform to Track and Drive Progress
Elanco is piloting UpLook™, an insights engine based on more than 20 years of knowledge gained from its Elanco Knowledge Solutions (EKS) portfolio. UpLook is designed to predict greenhouse gas emissions and identify key drivers of an operation’s carbon footprint, providing producers with a baseline of their current stewardship efforts. UpLook can help cattle feeders better understand their baseline, be empowered to recognize the key drivers of their carbon footprint and determine actionable steps to help move their operation toward improved sustainability and stewardship along with access to Elanco’s industry-leading consultants. Elanco believes this established baseline and tracking of progress is the first step to certification and monetization of carbon reduction for producers. Initial pilots of the system are beginning with cattle feeders and availability is expected in the second quarter.
While livestock producers have long been stewards of the land, today they often don’t get credit for their efforts. Elanco believes livestock are a central solution to help address the dual challenges of nourishing the population while mitigating climate change. Voluntary use of tools and resources such as UpLook can help document the great stewardship efforts of cattle producers and evolve their sustainability efforts towards being a value-driver for their operations in the future.
“We are excited to start to turn our commitments into action,” said Dr. Sara Place, chief sustainability officer at Elanco. “This is the first step in a long-term commitment to learn and collaborate with our customers’ as we navigate this new frontier of opportunity, while helping to make a significant difference for our world.”
Value Creation: Creating a Marketplace for Economic and Reputational Value
Elanco is also announcing its investment in Athian, a start-up company created in partnership with venture studio High Alpha Innovation. Athian’s key mission will be to help the cattle industry capture and claim carbon credits earned through sustainability efforts where possible, primarily by validating and certifying GHG reductions and carbon capture from services like UpLook. Athian is expected to aggregate data for producers of all sizes and then work to create a carbon credit marketplace to monetize and capture value from sustainability efforts. Through Athian, farmers and ranchers may have a greater opportunity to keep this value within the food system so that carbon credits do not flow out of the food chain to other industries, which is often called “off-setting.” When an off-set occurs, the other industry is able to take credit for the reduction. By in-setting the credits, protein producers could potentially keep not just the economic value, but also the societal value of reducing the footprint for the products they produce.
“We are pleased to partner with Elanco and other thought leaders in the livestock production value chain as we launch Athian to certify, aggregate and monetize carbon credits,” said Paul Myer, CEO of Athian. “Our partnership enables farmers and ranchers to fund sustainability projects that will enable the industry to reach their Net Zero emissions targets.”
Elanco Launches Leave it Better™
Additionally, Elanco is announcing the launch of the Leave it Better™ initiative. Inspired by the universal desire of farmers and ranchers to leave their land, their livestock, and their business better than when they started, the initiative will serve as an overarching program for Elanco’s cattle sustainability outreach. This will include producer education, innovation, and partnerships, such as the multi-year partnership with Ducks Unlimited to help restore working grasslands in support of the U.S. Department of Agriculture Farm Service Agency’s SAFE (State Acres For Wildlife Enhancement) program.
Elanco believes platforms such as UpLook™, PenPoint™ livestock placement and sorting system, and Athian are important pieces in the complex matrix of sustainable beef production, which is key to both feeding families and reducing the warming impact of food production. This suite of Value Beyond Product offerings are foundational to the company’s differentiated approach in the livestock industry.
For more information on Elanco’s Sustainability Efforts, visit https://www.elanco.com/en-us/sustainability
ABOUT ELANCO
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders, and society as a whole. With nearly 70 years of animal health heritage, we are committed to helping our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our Elanco Healthy Purpose™ Sustainability/ESG Pledges –all to advance the health of animals, people, and the planet. Learn more at elanco.com.
ABOUT ATHIAN
At Athian, we are technology experts with farming in our genes. We enable environmental sustainability for animal agriculture because we believe in being good stewards of the earth’s resources for generations to come. We use software to aggregate, certify, and fund greenhouse gas reduction plans throughout the entire livestock value-chain.
Athian’s Sustainable Livestock Systems platform is an industry-based analytics tool powered by AI that enables the livestock industry to make good on its sustainability commitments by providing carbon “insetting” credits. Athian’s carbon credit marketplace provides quality greenhouse gas credits that fund livestock producers’ sustainability measures. Learn how to join us in this effort at Athian.ai.
_____________
1https://news.un.org/en/story/2021/08/1097362
2https://www.who.int/news/item/12-07-2021-un-report-pandemic-year-marked-by-spike-in-world-hunger
3https://www.who.int/news-room/fact-sheets/detail/obesity-and-overweight
Media Contact: Colleen Parr Dekker, +1.317.989.7011, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Contact: Kathryn Grissom, +1.317.273.9284, This email address is being protected from spambots. You need JavaScript enabled to view it.
Outsight, the winner of the 2022 LIDAR Leader Award, takes the lead in bringing LiDAR to the entire geospatial market
PARIS & DENVER, Colo.--(BUSINESS WIRE)--Outsight has received the 2022 LIDAR Leader Award for Outstanding Enterprise Achievement, presented by Geo Week and LIDAR Magazine within the framework of the 2022 Geo Week Awards. The Geo Week Awards is a central annual event in the field of LiDAR technologies, and the only industry event that celebrates the innovations at the intersection of geospatial technologies and the built world. The award confirms Outsight’s pivotal role in bringing LiDAR beyond automotive to the entire geospatial market, such as intelligent transportation systems, logistics, manufacturing, smart infrastructure, defense, space and agriculture.
Outsight, the pioneer of 3D Spatial Intelligence solutions, has received the 2022 LIDAR Leader Award for Outstanding Enterprise Achievement. The award criteria highlighted several of the company's industry achievements, including the company's significant impact on the community through technical excellence, professional development, and innovation in the field of geospatial LiDAR technology. Outsight was chosen as the best company in this category by numerous customers in the fields of mobile robotics, ITS, people crowd monitoring, and industrial applications.
This is not the company's first honor. Frost & Sullivan awarded Outsight the 2021 Global Technology Innovation Leadership Award for its Spatial Intelligence solution Augmented LiDAR Box (ALB), which can process LiDAR data from any LiDAR supplier in real time.
Outsight is also the only LiDAR processing company to have ever won the Best of CES Innovation Award, as well as the youngest company to have ever won the prestigious Prism Awards, which establishes a new standard in the photonics industry. Among numerous additional recognitions, the company was recently selected by the European Innovation Council as one of the TOP50 European Start-ups out of 3000 candidates for its EIC ScalingUp program.
The recognition of Outsight as the LIDAR Leader reflects a sea change in the LiDAR market: this 3D sensing technology is no longer a purely automotive technology. The capabilities of Spatial Intelligence technologies today extend far beyond determining the state of the road. Now, LiDARs are capable of performing more complex tasks, such as analyzing human and vehicles interactions in a given space, calculating the exact volume of objects in a truck, and enabling a variety of robotics applications. A good example of a non-automotive LiDAR application is Outsight's solution currently being used at Paris Charles de Gaulle Airport to conduct detailed analyses of passenger flows and their interaction with airport devices.
"This award recognizes not only our team's many years of dedication and experience, but also the growing awareness of the value of LiDAR technology and its potential applications in a variety of industries such as smart cities, robotics, security, traffic management, and people flow monitoring," notes Raul Bravo, President and Co-founder of Outsight.
"The market for Spatial Intelligence is currently undergoing an exciting phase of tremendous growth. LiDAR hardware is a critical component of it, it is rapidly maturing and becoming increasingly affordable. However, customers outside the automotive market are more concerned with the unique value of 3D Spatial Intelligence data to their business than with the LiDAR technology itself: they have no desire to become deep experts in 3D LiDAR processing.
Our goal is to make it as accessible as possible to the widest audience possible. I'm delighted that Outsight is making this happen leading the software aspect of the LiDAR market."
To better understand the challenges and solutions when using LiDAR in real-time applications, take a look at Outsight’s latest whitepaper.
About Outsight
Outsight develops real-time 3D LiDAR perception solutions.
Our mission is to make LiDAR-based Spatial Intelligence become plug & play, so it can be used by application developers and integrators in any market. Using any LiDAR with our pre-processing capabilities allows Smart Machines and Smart Cities to achieve an unprecedented level of situational awareness.
We believe that accelerating the adoption of LiDAR technology with easy-to-use and scalable pre-processing will highly contribute to creating transformative solutions and products that will make a smarter and safer world.
Media Contacts Outsight
Jean-François Kitten +33(0)611293028 This email address is being protected from spambots. You need JavaScript enabled to view it.
Ilinca Spita +33(0)664751298 This email address is being protected from spambots. You need JavaScript enabled to view it.
Anna Azarova +33(0)749295104 This email address is being protected from spambots. You need JavaScript enabled to view it.
Growth in ESG Investments Increasing Popularity of C-PACE Financing
ATLANTA--(BUSINESS WIRE)--Stonehill PACE announced it had completed approximately $150 million in commercial property assessed clean energy (“C-PACE”) loans over the past 12 months for renewable energy and energy-efficient components and seismic retrofitting within the hospitality, multifamily, senior living, industrial and mixed-use real estate sectors.
“We effectively doubled our commercial property assessed clean energy originations last year, growing to more than $300 million,” said Jared Schlosser, SVP and head of Stonehill PACE. “While we are known predominantly for our lending activities within the hospitality arena, a large percentage of our 2021 volume was in other real estate asset classes.”
Of the 18 transactions completed over the past year, eight were multifamily and senior housing, seven were hotels, and one was in industrial and mixed-use sectors. Stonehill PACE also completed one of the first condominium developments utilizing C-PACE with a $10.6 million loan for a high-rise development at 950 3rd Street in Washington DC.
Other notable transactions include a $13.8 million loan for Mesa at Laguna Ridge apartments in Elk Grove, California. Stonehill PACE achieved a 95% combined loan-to-value with C-PACE financing. Additionally, Stonehill PACE provided $17.8 million in C-PACE retroactive funding for the Element San Jose Milpitas.
Commercial property owners utilize C-PACE to obtain low-cost, long-term financing for energy efficiency and renewable energy upgrades to commercial buildings. C-PACE uses borrowed capital, which is repaid as a surcharge on their property taxes for up to 30 years.
According to research in the Journal of Structured Finance, a driving factor in the growth in C-PACE financing is the increased focus of Environmental, Social and Governance (“ESG”) initiatives. As more property owners become aware of C-PACE, they find it an attractive addition to their capital stack for financing building improvements to address climate change and natural disaster concerns.
“As PACE funding becomes increasingly accepted, our volume of business has grown in tandem,” Schlosser said. “To meet the demands of our new growth, we have added nine full-time members in 2021 with plans to add another half dozen associates in 2022.”
About Stonehill PACE
Stonehill PACE, a division of Stonehill, is a direct lender for Property Assessed Clean Energy (PACE) financing. The group specializes in providing PACE funding for all commercial asset classes. Its depth of experience in sourcing, underwriting and closing real estate transactions is unparalleled in the PACE industry. The team at Stonehill PACE has earned a reputation for providing a professionally managed, efficient execution. For additional information, please visit www.stonehillpace.com.
Charles Talbert
678-823-7683
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Mechanical Pump Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The global mechanical pump market is expected to grow from US$ 49,639.6 million in 2021 to US$ 72,732.2 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028.
A mechanical pump is a device that uses mechanical action to move fluids (liquid or gas) and slurries. Mechanical pumps are classified based on how they operate, but they all work on the same principle of consuming energy and moving fluid through mechanical action. Eight major industries, namely coal, fertilizers, oil & gas, refinery products, steel, cement, and electrical, are driving the adoption of pumps. Agriculture and construction services are also important end-use segments in developing economies like India and China. The mechanical pumps market's major players are primarily focused on quality and a low-cost proposition. One of the major success factors for standing out in the global market is to build a stronger brand and expand market reach in new geographies.
The mechanical pump market is segmented on the basis of stage, type, application, and geography. Based on stage, the market is bifurcated into single stage and multi-stage. Based on type, the market is bifurcated into positive displacement and centrifugal pumps. Based on application, the market is segmented into residential, commercial, and industrial. Additionally, based on region, the mechanical pump market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
APAC has several developing countries, high industrial presence, and positive economic outlook. Increasing urbanization and industrialization in APAC countries is presenting ample growth opportunities to the mechanical pump market players. The increasing use of enhanced technologies; growing adoption of Industrial Internet of Things (IIoT) across various industrial facilities; and rising safety mandates in developing countries such as India, Japan, and China are propelling the adoption of mechanical pumps in the region. The COVID-19 outbreak has brought the entire manufacturing sector to a halt, causing major supply chain disruptions.
As a result, there was a shortage of raw materials required for mechanical pump manufacturing, as the key raw material suppliers are located in China and Taiwan. The trade war between the US and China has had a negative effect on the trade of raw materials and on the demand for mechanical pumps. Further, the scarcity of raw materials has led to increase in their prices, resulting in high mechanical pump manufacturing costs. However, in the Asia Pacific market, the need for mechanical pumps has been driven by rising demand for power generation in economies such as India, Japan, and Indonesia. The increased usage of the Internet of Things, which allows mechanical pumps to monitor, analyze, and boost productivity, will have a favorable impact on the market growth.
The overall mechanical pump market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the mechanical pump market with respect to all the segments.
It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions - North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the mechanical pump market.
Reasons to Buy
Market Dynamics
Drivers
Restraints
Opportunities
Future Trends
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/z63dcy
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Establishes Chicago as North America Headquarters; Deepens Investment in Mexico to Drive Innovation and Growth
CHICAGO--(BUSINESS WIRE)--FarEye, a global SaaS platform provider transforming last-mile logistics, today announced it has expanded operations in the United States and Mexico, including the establishment of Chicago as its North American headquarters. FarEye has also deepened its presence in Mexico to support customers, drive co-innovation with partners and create a Center of Excellence for customers in the Latin America region.
Chicago named FarEye North America Headquarters
FarEye’s Chicago office in Wacker Drive will support U.S. operations, with plans to have 50% of global field operations driven out of the office by the end of 2022. Both CEO and co-founder Kushal Nahata, and co-founder and CTO Gaurav Srivastava have relocated to Chicago from India to spearhead FarEye’s global growth.
FarEye has accelerated its hiring of employees in 2022 in the U.S. across sales, marketing, product and service delivery functions. This strategic shift is designed to support FarEye’s growth strategy, and expand its software platform capabilities to meet the needs of carriers and shippers. FarEye enables carriers and shippers to do faster, reliable, customer-centric deliveries at scale, making the delivery experience better for everyone.
FarEye’s intelligent platform is used by brands to launch and champion multiple delivery models like same-day, next-day, on-demand, and curbside from multiple inventory locations. FarEye’s growth has accelerated over the last 12 months with strong traction in Europe and North America. These markets comprise over half of FarEye’s revenues and have grown nearly three times in the same period.
FarEye to build innovation hub in Mexico
Latin America has become a fast-growing region for FarEye. To underpin this growth, the company will establish a Center of Excellence to both drive innovation and support local customers. FarEye will invest in customer service teams locally, with a long-term vision to have approximately 15% of the North American customer service team hosted out of Mexico by the end of 2023.
The Center of Excellence will be co-managed and co-innovated with FarEye and its partners in the region, to fuel innovation and expanded technology capabilities addressing last mile delivery while providing a localized and consistent experience for its customers.
“We’re proud to officially establish roots in the U.S. in Chicago as our hub, and to deepen our operations in Latin America,” said Kushal Nahata, CEO of FarEye. “The home delivery market shows no signs of slowing and we’re now even more well-positioned to scale and support our customers’ needs, no matter where they’re located in the world. With a stronger foundation in North America, we look forward to helping more companies reduce complexity in the last mile and deliver a superior consumer experience every time.”
FarEye plans to increase its strength to over 1,000 employees in the coming year. Today with 150+ customers, across 30+ countries, FarEye's platform processes over 100 million transactions on a monthly basis, supports more than 25,000 drivers and is integrated into a network of over two million vehicles, improving billions of deliveries worldwide. The company is on a journey to achieve 100+ million transactions per day by processing petabytes of data.
To learn more about FarEye’s platform and capabilities, visit www.getfareye.com
About FarEye:
FarEye’s Intelligent Delivery Management Platform is making the delivery experience better for everyone. FarEye enables enterprises to deliver at reduced cost with a superior customer experience. The low-code approach provides an environment to develop applications with a quick turn-around time and minimal code to shorten the “concept to ship” cycle. The platform leverages millions of data points to predict the shipment journey and improve the delivery experience.
Jolene Peixoto, VP, brand & corporate communications, FarEye, This email address is being protected from spambots. You need JavaScript enabled to view it.
Komal Puri, senior director, marketing, FarEye, This email address is being protected from spambots. You need JavaScript enabled to view it.
Ventium marks Enedym’s entry into the renewables market and is the Company’s first commercialized non-propulsion product
HAMILTON, Ontario--(BUSINESS WIRE)--Enedym, Inc. (“Enedym”), the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, announced today that it is receiving a $2.4 million non-repayable contribution from Sustainable Development Technology Canada (“SDTC”) to commercialize and advance its Ventium wind pitch motor technology.
Utilizing its unique wind pitch motor technology, Ventium, whose name is a combination of Latin words for wind (Ventus) and power (Imperium), increases the reliability and efficiency of wind turbines, which means an increase in energy production. Over time, increased wind energy production will displace fossil fuel electricity generation resulting in significant reductions in greenhouse gas emissions. In addition, increased efficiency of wind turbines reduces the cost of wind energy, making investments in clean wind energy more attractive.
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, commented, “Canadian entrepreneurs are leading the global shift to a stronger, greener and more resilient economy. Today’s investments will enable cleantech innovators across multiple sectors to commercialize their ideas, helping Canada meet its 2030 climate commitments and reach net-zero emissions by 2050, providing a more sustainable future for all Canadians.”
Leah Lawrence, President and CEO of SDTC, said, “Enedym’s technology has the potential to make wind turbines an even more effective source of sustainable electricity. SDTC is proud to support Canadian entrepreneurs, like Enedym, who are leading the global effort in developing solutions and driving the innovation that will move us towards a greener and prosperous future.”
Dr. Ali Emadi, Founder, President, and CEO of Enedym, commented, “We wish to thank SDTC for their continued support toward the advancement and commercialization of our next-generation wind pitch motor system for wind turbines, Ventium. Wind power is one of the fastest-growing renewable energy technologies today, and Enedym believes it is a critical tool in creating a sustainable future for all. Enedym’s Ventium system makes wind turbines more efficient, more affordable, and can make a significant contribution to solving climate change challenges. Through our partnership with SDTC, as well as with support from our consortium of industry partners, we can reach our collective goal to ensure wind power infrastructure can run more efficiently, reliably, and economically.”
Enedym’s consortium partners for the development of the Ventium system, in addition to collaborations with several of the largest wind owners and operators globally, include:
Smartricity Inc. (Ballinafad, ON)
JFE Shoji Power Canada Inc. (Burlington, ON)
IEC Holden (Montreal, QC)
WECS RENEWABLES (Palm Springs, CA)
Innovative Thermal Solutions Inc. (Waterloo, ON)
EECOMobility (Hamilton, ON)
Michael Sonsogno, CEO of Smartricity, commented, “Wind pitch systems are one of the largest reliability concerns in a wind turbine, with regular failures occurring on both the motor and traditional DC converter. Smartricity is very excited to join forces with Enedym to bring Ventium to the market as it directly addresses all of the pain points in the existing pitch systems and solves them using state-of-the-art SRM technology from Enedym.”
About Enedym, Inc.
Enedym is a technology start-up company from McMaster University. The company is headquartered at the McMaster Innovation Park in Hamilton, Ontario, Canada. Enedym has ownership of over 50 patents and pending patent applications and related inventions developed by the Canada Excellence Research Chair in Hybrid Powertrain Dr. Ali Emadi and his research group at the McMaster Automotive Resource Centre (MARC), McMaster University. Enedym’s vision is to reduce the cost of electric propulsion motors significantly and power a new paradigm in the electric motor industry through novel switched reluctance motor (SRM) drive technologies. Enedym aspires to help save the planet, one electric motor market at a time. To learn more about Enedym, please visit www.enedym.com and our YouTube channel at Enedym YouTube.
About Sustainable Development Technology Canada
SDTC supports companies attempting to do extraordinary things.
From initial funding to educational support and peer learning to market integration, SDTC is invested in helping small and medium-sized businesses grow into successful companies that employ Canadians from coast to coast to coast. The innovations SDTC funds help solve some of the world’s most pressing environmental challenges: climate change, regeneration through the circular economy, and the well-being of humans in the communities they live in and the natural environment they interact with. For more information, please visit www.sdtc.ca
Media Contact for Enedym Inc.
Melissa Sheer
Kent Place Communications, LLC
917-690-2199
This email address is being protected from spambots. You need JavaScript enabled to view it.
Dixon to offer unique insight on how crypto miners can improve power consumption and generate revenue through the Voltus DER software technology platform
SAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Voltus, Inc., the leading distributed energy resource (DER) software technology platform, today announced that its CEO, Gregg Dixon, will present at the Scott’s Mining Conference on February 8, 2022, at 10:10 am CT.
Working with several major crypto miners in the United States, Voltus will offer a unique perspective on technology and strategies that can make crypto mining ventures more profitable, while supporting the clean energy transition.
In a presentation entitled “Don't Mess With Texas,” Dixon will address attractive programs for Bitcoin Mining operations, from load balancing and economic incentives, to preventing curtailment of renewable energy. He will also address what states have the best programs that miners can take advantage of, and how Bitcoin Miners are helping these states.
Scott’s Mining Conference is being held in Round Rock, Texas on February 7-8. The conference will feature experts speaking about current trends in the bitcoin mining industry. More info is available at https://scottsconference.com.
About Voltus, Inc.
Voltus, Inc. (“Voltus”) is the leading platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and grid services partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
Voltus previously announced an agreement for a business combination with Broadscale Acquisition Corp. (“Broadscale”) (Nasdaq: SCLE), which is expected to result in Voltus becoming a public company listed on the Nasdaq in the first half of 2022, subject to customary closing conditions.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, revenue and other metrics, planned products and services, business strategy and plans, objectives of management for future operations of Voltus market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet Nasdaq's listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the business combination, 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 its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s registration statement on Form S-4 (File No. 333-262287), filed with the SEC on January 21, 2022 (the “Registration Statement”), and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release 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, which speak only as of the date they are made. Neither Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.
Use of Projections
This press release may contain financial forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.
Additional Information and Where to Find It
In connection with the proposed transaction, Broadscale has filed with the U.S. Securities and Exchange Commission the Registration Statement, which included a preliminary proxy statement and a preliminary prospectus. After the Registration Statement has been declared effective, Broadscale will mail a definitive proxy statement /prospectus relating to the proposed transaction to its stockholders as of the record date established for voting on the proposed transactions. Broadscale’s stockholders and other interested persons are urged to carefully read the Registration Statement, including the preliminary proxy statement / preliminary prospectus, and any amendments thereto, and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials contain, or will contain, important information about the proposed transaction and the parties to the proposed transaction.
Broadscale’s stockholders and other interested persons will be able to obtain free copies of the Registration Statement, the preliminary proxy statement / preliminary prospectus, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC, without charge, when available, at the website maintained by the SEC at www.sec.gov.
The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation
Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.
No Offer or Solicitation
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Investor Relations Contact – Voltus
Sioban Hickie, ICR, Inc.
Eduardo Royes, ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact – Voltus
Cory Ziskind, ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Fuel Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The global fuel management system market is expected to grow from US$ 1,084.64 million in 2021 to US$ 2,089.56 million by 2028; it is estimated to grow at a CAGR of 9.82% from 2021 to 2028.
In fuel management systems, introducing cutting-edge technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), will enhance demand and develop possibilities. The continued research and development efforts are assisting in developing sophisticated fuel management systems that benefit end users. Artificial intelligence can aid in properly measuring and tracking fuel stocks through an automated tank monitoring system. As a result, the fuel management system market is expected to be driven by the effective use of AI solutions to control the supply-demand gap and ensure the lowest fuel prices and environmental impact across the globe during the forecast period.
Telematics systems can do a lot more than just track vehicle movement, and many of those features may help with fuel management. Besides tracking the movement of cars and projecting the consumption of fuels, firms benefit from various other aspects, such as viewing fuel efficiency statistics for individual drivers, individual cars, a specific portion of the fleet, or the entire fleet. This information may then be utilized to spot patterns and indicate areas where efficiency can be improved. Similarly, keeping track of gasoline purchases to verify that drivers are only buying what their cars require and aren't filling up during off-peak hours, buying more fuel than their tanks can hold, or filling up outside a pre-determined zone.
Furthermore, the COVID-19 outbreak has affected the overall growth rate of global fuel management system market in the year 2020 in a negative manner to some extent, due to decline in revenue and growth of companies operating in the market owing to supply and demand disruptions across the value chain. Thus, there was a decline in y-o-y growth rate during the year 2020. However, the sudden growth in vaccinations, COIVD-19 safety protocols, the restrictions are getting lifted which would positively impact the production capabilities of different industries, and thereby fuel management system also. This upward growth is expected to normalize the fuel management system market growth over the forecasted period.
Reasons to Buy
Market Dynamics
Drivers
Restraints
Opportunities
Future Trends
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/7pg5tm
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
SANTA CLARA, Calif.--(BUSINESS WIRE)--Propel, creator of the Product 360 cloud solution, today announced the appointment of Kirsten Allegri Williams to its board of directors. Williams, chief marketing officer of Optimizely, joins Propel as the company redefines how product companies collaborate across their entire value chain to deliver customer-centric experiences. With expertise in areas like corporate positioning, category creation and global go-to-market strategy, Williams will help expand Propel’s reach of innovative cloud-based products to enterprise customers in the technology, medical device and consumer goods industries.
“Our Product 360 approach allows companies to engage with their customers in new and innovative ways that drive long term revenue growth,” said Ray Hein, CEO of Propel. “Kirsten’s expertise will be invaluable as we continue to provide whole product solutions that disrupt antiquated processes and siloed legacy solutions.”
Williams brings more than 20 years’ experience to the Propel board, with over 15 years at SAP Success Factors and SAP Ariba driving end-to-end global marketing strategy, corporate messaging, brand strategy, sales enablement, demand generation and go-to-market initiatives. Currently, Williams is CMO of Optimizely, where she leads global marketing and communications.
“I’m thrilled to join Propel’s board at such an exciting time. The company’s rapid growth, superior technology and delighted customer base are a testament to its team of industry trailblazers, challengers and innovators. This team understands that building products in today’s world requires putting customers at the center of the process, and they are not afraid to defy conventional thinking with a completely new approach,” said Williams. “I look forward to helping guide the company as it continues to shake up the market with an alternative way of thinking.”
“Kirsten is an industry dynamo who will spark creativity and collaborative energy amongst board members as we tap our collective expertise to further define this new product cloud category,” said Sean Jacobsohn, partner at Norwest Venture Partners and Propel board member. “From her success at SAP launching cloud-based solutions, to her work with the United Nations helping businesses forge sustainable supply chains, to her impressive 20-year career as a mezzo-soprano trained opera singer, Kirsten approaches every opportunity with an ‘all in’ mentality. I look forward to her contributions on the Propel board.”
For more information, visit propelplm.com.
About Propel
Propel enables Product 360, the modern way to take products from concept to customer. Born in the cloud and built on Salesforce, Propel enables collaboration across the entire value chain to deliver the right products to market faster, at higher margins. As a trusted partner to hyper-growth startups like Desktop Metal, Imperative Care, and Inari Medical, corporate pioneers such as Traeger, Simplisafe, and Vizio, and Fortune 500 leaders Shell and Zoetis, Propel drives innovative product success. For more information, visit propelplm.com and follow us on LinkedIn.
Samantha Chapman
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Industrial X-ray Inspection System Market by Component (Hardware, Software), Imaging Technique (Digital, Film-Based), Dimension (2D X-ray Systems, 3D X-ray), Vertical (Electronics & Semiconductors, Oil & Gas), and Geography - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Industrial X-ray Inspection System Market is expected to reach a value of $1.03 billion by 2028, at a CAGR of 10.3% during the forecast period 2021-2028.
The report provides an in-depth analysis of the industrial X-ray inspection systems market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2028.
The growth of this market is attributed to the stringent government regulations regarding the safety of assets, increasing consumer awareness regarding quality standards, and rising security concerns in strategic infrastructure installations.
Based on component, the industrial X-ray inspection systems market is segmented into hardware, software, support services, and consumables. The hardware segment is expected to account for the largest share of the industrial X-ray inspection systems market in 2021. The large market share of this segment is attributed to the increasing demand for high-quality X-ray detection solutions and technological advancements.
Based on imaging technique, the industrial X-ray inspection systems market is segmented into digital imaging and film-based imaging. The digital imaging segment is expected to account for the largest share of the industrial X-ray inspection systems market in 2021. The large market share of this segment is attributed to factors such as digitalization, rising industrial automation, and rising quality and safety standards. Additionally, this segment is expected to register the highest CAGR throughout the forecast period.
Based on type, the digital imaging market is segmented into direct radiography, computed radiography, and computed tomography. The direct radiography segment is expected to account for the largest market share in 2021. Effective dynamic range, high contrast detectability, accurate image capture, less radiation exposure, high flexibility, and lower operational costs are the factors attributed to the large market share of this segment. These features contribute to the adoption of direct radiography in various industries.
Based on dimensions, the industrial X-ray inspection systems market is segmented into 2D X-ray systems and 3D X-ray systems. The 2D X-ray system is expected to account for the largest market share in 2021. The large market share of this segment is attributed to its use in various automotive, aerospace, defense, and manufacturing industries to detect defects or faults in the final products. The increasing adoption of 2D X-ray systems across these industries drives the growth of this segment.
Based on the vertical, the industrial X-ray inspection systems market is segmented into electronics and semiconductors, aerospace, automotive, public infrastructure, power generation, oil & gas, food & beverages, manufacturing, and other verticals. Among these verticals, the electronics and semiconductors segment is expected to account for the largest market share in 2021.
The large market share of this segment is attributed to the rising usage of X-ray inspection systems for 3D packaging in electronics and the integration of X-ray inspection in non-destructive testing of components, PCB assemblies, and solder joints. Additionally, this segment is slated to register the highest CAGR during the forecast period.
North America is estimated to account for the largest share of the industrial X-ray inspection systems market in 2021. The large market share of this region is attributed to the rising demand for industrial X-ray systems in the oil & gas industry.
North America is followed by Asia-Pacific and Europe in terms of revenue share. Asia-Pacific is expected to register the highest CAGR during the forecast period.
The COVID-19 pandemic had a massive negative impact on the industrial X-ray inspection systems market in North America. Major oil & gas companies in the region decreased their investments in inspection-related activities due to low production and depressed oil prices.
Key Questions Answered in the Report:
Market Insights
Drivers
Restraints
Opportunities
Challenges
Trends
Company Profiles
Scope of the Report:
Industrial X-ray Inspection Systems Market, by Component
Industrial X-ray Inspection Systems Market, by Imaging Technique
Industrial X-ray Inspection Systems Market, by Dimension
Industrial X-ray Inspection Systems Market, by Vertical
Industrial X-ray Inspection Systems Market, by Geography
For more information about this report visit https://www.researchandmarkets.com/r/iuuv2z
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
LONDON--(BUSINESS WIRE)--A ground-breaking survey by research group Omdia showed that within the next four years data center operators will deploy uninterruptible power supplies (UPS) which are able to interact with the electric grid and support essential energy-management initiatives.
The use of renewable energy is growing on all fronts and is becoming the new normal in the data center industry. The integration of variable renewable energy resources into a more dynamic electric grid comes with new challenges and technical requirements. Data centers are in a unique position to increase the reliability of the electric grid by allowing access to a part of their backup power systems. Data center UPSs have evolved to attain high efficiency, smaller footprints, improved battery energy storage systems (ESS), and monitoring systems.
Smart grid ready UPSs incorporate technologies that enable the equipment to sense and interact with the electric grid, helping data centers to become smarter about the amount and timing of energy consumption, contributing to the pursuit of a more sustainable data center.
“The integration of renewable energy into the smart electric grid can benefit from smart grid ready UPS, to smooth out the unpredictability of renewable resources, balancing energy supply and demand, and to reduce or defer electric grid infrastructure investment”, said Moises Levy, PhD, Principal Analyst and lead of Omdia’s data center power, cooling and sustainability research practice. “Manufacturers like Eaton, Schneider Electric, and Vertiv are already offering UPSs with these capabilities.”
To capture all viewpoints of this critical subject, Omdia surveyed a combination of data center operators, engineering, architecture and consulting firms, as well as, utility companies, across North America, the Nordics, UK, Ireland, France, Germany, and Australia.
The nearly 380 respondents indicated that the top driver for adopting smart grid ready UPS is contributing to sustainability initiatives. This was followed by technology innovation pioneer, and reputation and competitive advantage. Importantly, the lion’s share* of respondents indicate they are confident that using smart grid ready UPS will not put their mission critical workloads at risk.
Cloud service providers were pointed out as the vertical that is most likely to benefit from smart grid ready UPS by nearly half of the survey respondents. However, enterprises from all vertical industries are a part of the conversation as long as they operate a data center. From a regional perspective, the Nordics, and UK and Ireland are the two regions leading the number of UPS with capabilities to interact with the grid being deployed.
About 80% of respondents estimated that 10-50% of the capacity of batteries in the data center today is excess and can be potentially used to support the electric grid. This would be a significant enabler to the integration of variable renewable energy sources into the electric grid. Most respondents indicated that solar and wind were the two microgrid applications which would most benefit from utilizing this technology.
“The data center industry is the backbone of the digital economy and has enabled significant efficiencies in how we conduct business, communicate with one another, and develop innovative technologies. From this perspective the data centers are already a force for good which is making the world more sustainable. With emergence and proliferation of smart grid ready UPS technology data centers are enabling an even more sustainable world,” said Vlad Galabov, Research Director at Omdia’s Cloud and Data Center Research Practice.
The Omdia Uninterruptible Power Supplies (UPS) Intelligence Service covers comprehensive insights and forecast of the UPS hardware and services markets. Omdia’s UPS trackers continue to evolve and build on our existing, detailed database of the market. Using the reports clients can master with detailed data, trends, forecasts, and trusted insights.
* 77% (very confident and confident), and 98% (including somewhat confident)
ABOUT OMDIA:
Omdia is a leading research and advisory group focused on the technology industry. With clients operating in over 120 countries, Omdia provides market-critical data, analysis, advice and custom consulting.
Omdia was formed in 2020 following the merger of IHS Markit, Tractica, Ovum and Heavy Reading. Sitting at the heart of the Informa Tech portfolio, Omdia reaches over four million technology decision makers, influencers and practitioners that form part of the wider Informa Tech community and has specialist research practices focusing on Enterprise IT, AI, Internet of Things, Communications Service Providers, Cybersecurity, Components & Devices, Media & Entertainment and Government & Manufacturing.
For more information about Omdia, please visit www.omdia.com
Stay connected with Omdia on Facebook, LinkedIn, Twitter and YouTube.
Fasiha Khan
PR Manager | Omdia
Mobile: +44 7503 666806
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW DELHI, India & CHICAGO--(BUSINESS WIRE)--#coalgasification--Dastur Energy Pvt. Ltd. India ("Dastur") has entered into an agreement with Gas Technology Institute ("GTI") to jointly develop solutions to advance the transition to low-carbon, low-cost energy systems in India.
Dastur, a leading clean energy engineering firm with deep roots in the Indian market and extensive design and solution engineering expertise, will complement GTI's unique experience with gasification of high ash coals and U-GASTM fluidized bed technology.
Together, they will collaborate to lower costs and minimize environmental impacts with scalable gasification-based solutions for a range of Indian coals.
As part of India's clean energy and energy security goals, the Government of India has initiated several missions, including budget outlays for coal gasification and new clean energy carriers like hydrogen and methanol. Specifically, the Prime Minister's Coal Gasification Mission has a stated goal of gasifying 100 million tons of coal by 2030 with a potential investment budget of Rs 4 Lac Crore Rupees (about US$50 billion).
Coal gasification, combined with carbon capture, use, and storage, is expected to be the basis for affordable clean fuels and feedstock substitution for producing clean steel, hydrogen, ammonia, methanol, and other lower-carbon chemicals. The Coal Gasification Mission of India and the Ministry of Coal are currently shaping the direction of these important initiatives.
GTI President and CEO David Carroll said, "We are motivated to shape and accelerate clean energy transitions that protect the planet while enhancing the quality of life for our fellow citizens. Through our partnership with Dastur, we look forward to improving access to the affordable, low-carbon energy required to sustain India and its impressive record of progress."
Dastur President and CEO Atanu Mukherjee said, "We envision that India's energy transition has significant opportunities to leverage its vast resource endowments to create an "Atma Nirbhar" clean energy future. We believe that our gasification solutions based on GTI's technology will be technologically superior, capable of scaling up to meet the nation's needs, and be commercially attractive for gasifying India's high ash coals. We look forward to working with GTI in enabling India's low-carbon energy ecosystem with increasingly localized and indigenized technologies and solutions."
Dastur and GTI intend to provide integrated solutions for the widest range of Indian coals with complete gasifier process design packages, technology licensing and gas conditioning know-how, comprehensive engineering for the gasifier and other plant components, implementation support, project management, operations training, plant start-up, and commissioning.
About Dastur Energy
Dastur Energy Pvt Ltd is the Indian subsidiary of Austin, TX-based clean energy firm Dastur Energy. Dastur Energy envisions the enablement of an affordable and clean energy future through industrial decarbonization and low carbon transformation of solid fuels and hydrocarbons. Along with its affiliate, MN Dastur & Co, it has conceptualized and designed several pioneering industrial-scale low-carbon energy projects around the globe in gasification, hydrogen, methanol, chemicals, steel, hydrocarbons, and carbon capture.
About GTI
GTI is an organization dedicated to advancing the economy-wide transformation needed to deeply decarbonize energy systems while supplying the energy needed to support rising standards of living and economic growth worldwide. GTI embraces a vision for integrated, low-carbon, low-cost energy systems that leverage gases, liquids, efficiency, and infrastructure to meet the urgent challenges presented by climate change and global energy access.
For media requests:
GTI
Diane Miller, GTI Marketing Communications Director, This email address is being protected from spambots. You need JavaScript enabled to view it., T : +1 847-768-0683
Dastur Energy Pvt. Ltd. India
DLN Murthy, Corporate Advisory, This email address is being protected from spambots. You need JavaScript enabled to view it., T : +91 98300 92312
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.