Schlumberger’s cloud-based solutions have the potential to digitally transform worldwide reservoir engineering modeling to achieve vast increases in innovation, efficiencies, and performance
HOUSTON--(BUSINESS WIRE)--Schlumberger today announced an enterprise-wide deployment of the cloud-based DELFI* cognitive E&P environment for ConocoPhillips. ConocoPhillips will use Schlumberger digital solutions enabled by the DELFI environment to bring its reservoir engineering modeling, data and workflows to the cloud.
“This digital platform will drive workflow and data efficiency, enabling ConocoPhillips to meet their diverse reservoir engineering modeling needs worldwide,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “Expert teams from both companies will work closely together to integrate our cloud-based digital solutions and AI with ConocoPhillips’ reservoir engineering modeling and workflows.”
Upon completion of the integration, ConocoPhillips reservoir engineers will have access to cloud-based, high-performance computing resources in the DELFI environment as well as Schlumberger’s reservoir engineering solutions—including Petrel* E&P software platform's Petrel Reservoir Engineering, INTERSECT* high-resolution reservoir simulator, and ECLIPSE* industry-reference reservoir simulator.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
*Mark of Schlumberger.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
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CLEAR LAKE, Iowa--(BUSINESS WIRE)--Pritchard EV, a division of Pritchard Companies, has been a stakeholder in the automotive industry for generations. At the beginning of 2021, Pritchard EV set out to demonstrate their leadership role in multimodal electric vehicle distribution and EV charging implementation around the country.
The tour hinged on an idea that creating a better world starts at the community level. The team visited 28 key markets throughout the country, featuring products from Polestar, Workhorse, Endera, CAKE bikes, Ford, Audi, ChargePoint and more to help bring electric vehicles to the market, all while bringing support to disadvantaged communities. Within Pritchard’s core values, they believe that consistent, small actions lead to big change. During each stop, the Pritchard EV team made a meaningful donation to a local nonprofit organization and conversed with community leaders to educate on why electrification can change everything at the macro and micro level.
After meeting with grassroots community organizations, Pritchard met with City Officials, legislators, EV Partners and Fortune 500 businesses to unify their message: all pillars within each community need to work in tandem to build the resources needed to fully adopt electrification. By bringing together all stakeholders of the community, each party could understand their role in a collaborative effort to build a sustainable future.
To cap off a historic tour, on 2.22.22 Pritchard EV celebrated bringing electric vehicles to North Iowa in scale. Hundreds of EVs arrived to Clear Lake, IA only to meet subzero temperatures and minimal charging infrastructure. Winnebago Industries joined in the effort, providing access to their Rally Grounds Activity Complex, with enough space and electrical hookups to accommodate over 1,300 EVs. ChargePoint enhanced the infrastructure, sending 2 portable DC Fast Chargers and our utility partner ensured power was available on site. Together, these organizations demonstrated the importance of collaboration between companies and resources as the singular way to accelerate our adoption of electrification.
“Our family has been a leader within the automotive industry for decades. Seven years ago, we turned our efforts to electrification, working with customers both domestically and globally to build best practices. It’s evident that the world is craving a more sustainable way of transportation. Thanks to the Purpose-Built Tour, we’ve been able to put Iowa and the Pritchard team in the forefront of commercial electrification.” - Ryan Pritchard, Chief Revenue Officer.
Applying lessons learned from the Tour paid off, with new electric vehicle registrations doubling their internal combustion counterparts (Source: New Car Reg Data, Clear Lake, IA, Dec 2021). While it may be a small market, this is a big statement. Through collaboration, we can accelerate a transition to electrified mobility and reduce the climate impact on our communities.
About Pritchard Companies
Established in 1913, Pritchard Companies is a national automotive enterprise, providing fully integrated, multimodal solutions to the commercial vehicle industry. The Company owns and operates locations across the United States, representing the world's finest vehicle manufacturers. As a leader in transportation as a service, they offer a full range of products, from sales of new and used vehicles to aftermarket parts and service, to financing, insurance, telematics, charging infrastructure, leasing, rental, and subscription services. Additional information about Pritchard Companies products and services is available at www.pritchardco.com.
Ryan Pritchard
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CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE: CHPT), a leading EV charging network, today announced that Chief Marketing Officer Colleen Jansen is confirmed to speak at the J.D. Power Auto Summit. The premier automotive retail event at the NADA Show is taking place at the Wynn Las Vegas on Thursday, March 10, 2022, and will feature key industry thought leaders, real-time auto industry data and cutting-edge insights needed to make informed decisions with lasting impacts. At the event, Colleen Jansen will speak on the panel session “Understanding Purchase Pain Points” alongside leaders from NADA (National Automobile Dealers Association), J.D. Power and Hyundai Motor North America.
Event details
What:
“Understanding Purchase Pain Points.” The paradigm shift to mass EV adoption is underway. Electric vehicle sales are rapidly increasing; however, they still make up only three percent of today’s retail transactions. Range and price remain key barriers to consumer adoption, but what factors are proving to be most important in driving EV acceptance, and how can franchised dealers leverage this knowledge to drive sales? From marketing to product and public charging perspectives, you’ll gain insights for a strategic EV go-to-market strategy and how to address buyer hesitations on the lot.
When:
Thursday, March 10, 2022, at 11:00 a.m. PT
Where:
Lafite Ballroom, Wynn Las Vegas
Who:
Colleen Jansen is a marketing strategist with 20 years of experience in both business-to-consumer and business-to-business marketing spanning early stage, privately held VC-funded companies as well as large cap, publicly traded firms. Prior to joining ChargePoint, she led marketing disciplines for a number of category-creating startups as well as established brands including Microsoft, Yahoo, Intuit and LinkedIn. An early EV adopter and currently a Tesla driver, Colleen is passionate about helping everyone realize the personal, societal and economic benefits of driving electric. As the head of the marketing organization, she oversees brand, communications, demand generation, consumer engagement and customer marketing.
Additional speakers:
To register for the event, please visit https://www.jdpowerautosummit.com/website/32081/register/.
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 105 million charging sessions have been delivered, with drivers plugging into the ChargePoint network approximately every two seconds. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.
Investor Relations
Patrick Hamer
VP, Capital Markets and Investor Relations
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Press
Jennifer Bowcock
VP, Communications
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AUSTIN, Texas--(BUSINESS WIRE)--$CORZ--Core Scientific, Inc. (NASDAQ: CORZ) ("Core Scientific" or “the Company”), a leader in high-performance, net carbon neutral blockchain infrastructure and software solutions, today announced preliminary financial results for the fiscal year ending December 31, 2021, initial fiscal year 2022 operating guidance and February production and operations updates.
2021 PRELIMINARY RESULTS AND EARNINGS RELEASE DATE
“Our team’s outstanding efforts this past year delivered strong financial results that comfortably exceeded our expectations,” said Mike Levitt, Core Scientific Chief Executive Officer. “We expect 2021 revenue to be $515 million to $545 million, net income of $50 million to $60 million and adjusted EBITDA of $225 million to $235 million. We ended the year having produced 5,769 bitcoins and operating total hashrate of 13.5 EH/s, well ahead of our anticipated 11.0 EH/s. We are pleased with the performance of our company, our team and our infrastructure, and look forward to continuing to build value for our shareholders in 2022.”
Core Scientific expects to release fourth quarter and full fiscal year 2021 results after the market closes on March 29, 2022 and will hold a conference call later that day. Please visit the Events and Presentations section of the Company’s website to learn more:
https://investors.corescientific.com/investors/events-and-presentations/default.aspx
2022 OPERATING GUIDANCE
“We believe that we are well positioned to achieve 40 to 42 EH/s of total hashrate by year end 2022, distributed approximately evenly between our self-mining and hosting segments. Demand for our hosting capacity remains strong and continues to exceed our available supply. Our construction and power team is on pace to achieve 1.2 to 1.3 GW of operating infrastructure by year end to continue expanding our hosting and self-mining capacity,” Mr. Levitt added.
Summary of preliminary 2021 financial results and 2022 operating guidance:
Preliminary Financial Results |
Full Year 2021 |
|
Total Revenue |
$515 to $545 million |
|
Net Income |
$50 to $60 million |
|
Adjusted EBITDA |
$225 to $235 million |
|
Total Hashrate (EH/s) |
13.5 EH/s |
|
Operating Megawatts ("MW") |
457 MW |
|
Operating Guidance |
Full Year 2022 |
|
Total Hashrate (EH/s) |
40 to 42 EH/s |
|
Operating Gigawatts ("GW") |
1.2 to 1.3 GW |
CAPITAL MARKETS ACTIVITIES
Core Scientific’s Board of Directors voted unanimously to accelerate by approximately four months the expiration of the “lock-up” restricting the sale of stock held by early (pre-public) investors in the company. The Board determined that it was in the best interests of the company to increase the shares available for trading in the open market.
“By enabling early private round investors to sell shares we hope to increase our traded float,” commented Mr. Levitt. “We welcome these sales as we believe that increasing our float will benefit our company and is in the best long-term interests of all of our shareholders. Affiliates of the company, including myself, my fellow board members Matt Minnis and Darin Feinstein, and executive officers Todd DuChene, Michael Trzupek and Brian Neville, are not currently eligible to sell shares under the exemption provided by Rule 144.”
FEBRUARY UPDATE
Mr. Levitt continued, “We ended 2021 operating data centers in four states with total mining capacity of 13.5 EH/s. Two months later we were operating in five states, with a sixth state in view, and had increased our hashrate to 15.9 EH/s. Across our business, our team is delivering strong growth and outstanding results that continue to position Core Scientific as a leading blockchain infrastructure provider and digital asset self-miner.”
Self-Mining
Core Scientific’s self-mining operations produced 981 bitcoins in February, averaging 35 bitcoins per day, an increase from January’s 34.7 daily average, and representing a year over year increase of 313%. As of February 28, 2022, the Company held 7,355 bitcoins produced from operations.
As of February month end, Core Scientific operated its own fleet of more than 80,000 bitcoin miners, producing 8.2 EH/s.
Hosting
In addition to its self-mining fleet, as of February 28, 2022, Core Scientific provided infrastructure, technology and operating support for a diverse group of customers representing 7.7 EH/s.
“Strong demand for hosting is driven by both additional capacity requests from existing customers and inquiries from new customers,” said Mr. Levitt. “While requests for hosting currently exceed our available supply, planned infrastructure additions in late 2022 should create capacity for additional hosting customers.”
Infrastructure
Phase 1 of the Company’s Denton, Texas facility began operation on February 22 with an initial operating capacity approaching 22 MW. When completed, the Company anticipates the entire site will comprise seven of the Company’s proprietary cathedral structures as well as a fleet of three-dozen Antbox mining containers. The Company expects to approach full operating capacity of 300 MW at the Denton data center by the end of 2022.
Grid Support
In the month of February, the Company powered-down portions of its operations in two states on 14 separate occasions. Aggregate electrical curtailment for these events exceeded 4,400 megawatt-hours. As the Company has demonstrated throughout the winter months, it will continue to work with the communities and utility companies in which it operates to enable and ensure electrical grid stability.
ABOUT CORE SCIENTIFIC
Core Scientific is one of the largest publicly traded, net carbon-neutral blockchain infrastructure providers and miners of digital assets in North America. Core Scientific has operated blockchain infrastructure in North America since 2017, using its facilities and intellectual property portfolio that has grown to more than 70 patents or applications for digital asset hosted mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas, and expects to commence operations in Oklahoma in the second half of 2022. Core Scientific’s proprietary Minder® fleet management software combines the Company’s hosting expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network. To learn more, visit http://www.corescientific.com.
As of September 30, 2021, over 50% of the power used in Core Scientific’s operation was generated from non-carbon emitting sources by local power providers pursuant to long-term power contracts. The Company determines whether power is generated from non-emitting energy sources from dispatch reports or grid generation mix reports provided by the Company’s power providers. Based on these reports Core Scientific purchased Green-e certified renewable energy credits (“RECs”) to offset 100% of the carbon produced as a result of its contracted power. The Company expects to maintain its net carbon neutrality by increasing its overall use of renewable power and by purchasing RECs when necessary.
FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES
This press release includes “forward-looking statements'' within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, those related to the Company’s ability to scale and grow its business, source clean and renewable energy, the advantages and expected growth of the Company, future estimates of revenue, net income and adjusted EBITDA, future estimates of computing capacity and operating capacity, future demand for hosting capacity, future estimate of hashrate (including mix of self-mining and hosting) operating gigawatts, future projects in construction or negotiation and future expectations of operation location, orders for miners and critical infrastructure, future estimates of self-mining capacity, the public float of the Company’s shares, future Infrastructure additions and their operational capacity, and operating capacity and site features of the Company’s operations center in Denton, Texas. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including those identified in the Company’s reports filed with the U.S. Securities & Exchange Commission, and if any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Year over year comparisons are based on the combined results of Core Scientific and its acquired entities.
Core Scientific provides this and any future similar unaudited updates to provide shareholders with visibility into the Company’s results and progress toward previously announced capacity and operational projections.
ADJUSTED EBITDA
Adjusted EBITDA is a non-GAAP financial measure defined as our net income or (loss), adjusted to eliminate the effect of (i) interest income, interest expense, and other income (expense), net; (ii) provision for income taxes; (iii) depreciation and amortization; (iv) stock-based compensation expense; and (v) certain additional non-cash and non-recurring items. For additional information, including the reconciliation of net income (loss) to Adjusted EBITDA, please refer to the table below. We believe Adjusted EBITDA is an important measure because it allows management, investors, and our board of directors to evaluate and compare our operating results, including our return on capital and operating efficiencies, from period-to-period by making the adjustments described above. In addition, it provides useful information to investors and others in understanding and evaluating our results of operations, as well as provides a useful measure for period-to-period comparisons of our business, as it removes the effect of net interest income (expense), taxes, certain non-cash items, variable charges, and timing differences. Moreover, we have included Adjusted EBITDA in this press release because it is a key measurement used by our management internally to make operating decisions, including those related to operating expenses, evaluate performance, and perform strategic and financial planning.
The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, not driven by core results of operations and render comparisons with prior periods and competitors less meaningful. However, you should be aware that when evaluating Adjusted EBITDA, we may incur future expenses similar to those excluded when calculating these measures. Our presentation of this measure should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. Further, this non-GAAP financial measure should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. We compensate for these limitations by relying primarily on GAAP results and using Adjusted EBITDA on a supplemental basis. Our computation of Adjusted EBITDA may not be comparable to other similarly titled measures computed by other companies because not all companies calculate this measure in the same fashion. You should review the reconciliation of net income (loss) to Adjusted EBITDA below and not rely on any single financial measure to evaluate our business.
The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for the fiscal years ended December 31, 2021 and 2020:
Core Scientific, Inc |
||||||||||||
Reconciliation of Forward Looking Non-GAAP Financial Measures |
||||||||||||
(In millions, unaudited) |
||||||||||||
2021 |
2020 |
|||||||||||
|
Low |
High |
Results |
|||||||||
Adjusted EBITDA |
||||||||||||
Net income (loss) |
$ |
50 |
|
$ |
60 |
|
$ |
(12 |
) |
|||
Adjustments: |
||||||||||||
Interest expense, net |
|
45 |
|
|
45 |
|
|
4 |
|
|||
Income tax expense (benefit) |
|
4 |
|
|
4 |
|
|
- |
|
|||
Depreciation and amortization |
|
29 |
|
|
29 |
|
|
9 |
|
|||
Loss on debt from extinguishment |
|
8 |
|
|
8 |
|
|
1 |
|
|||
Stock-based compensation expense |
|
39 |
|
|
39 |
|
|
3 |
|
|||
Loss on legal settlements |
|
3 |
|
|
3 |
|
|
- |
|
|||
Fair value adjustment on convertible note |
|
16 |
|
|
16 |
|
|
- |
|
|||
Gain from the sale of digital currency assets |
|
(3 |
) |
|
(3 |
) |
|
(0.1 |
) |
|||
Impairment of digital currency assets |
|
36 |
|
|
36 |
|
|
0 |
|
|||
Other |
|
0.1 |
|
|
0.1 |
|
|
0.1 |
|
|||
Adjusted EBITDA |
$ |
225 |
|
$ |
235 |
|
$ |
6.1 |
|
|||
/////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
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NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQB: KGEIF), is pleased to announce that its indirect wholly-owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) began completion operations last week on the Barnes 7-3H well (98.07% working interest) in its Tishomingo field in Oklahoma.
Wolf Regener, President, and CEO, commented. “I’m proud to say that our team is doing a great job and that the completion operations are going safely and are progressing well, with over half the stages having been completed already. We anticipate finishing the completion operations within the week. Once the completion equipment is rigged down and moved off, we will clean out the wellbore and begin the flow back of the well. The Company will update the market when we have stabilized production rates which are expected within a few weeks. With current market prices at their highest level since 2008, we are excited to be bringing on new production with unhedged pricing.”
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas, and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.
Cautionary Statements
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws and “forward-looking statements” within the meaning of United States securities laws (collectively, “forward looking information”), including statements regarding the timing of and expected results from planned wells development. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator’s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays, labor or contract disputes or shortages of equipment or labor are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the price of oil will decline, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
For further information, contact:
Wolf E. Regener +1 (805) 484-3613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.kolibrienergy.com
DUBLIN--(BUSINESS WIRE)--The "Worldwide Syngas Industry" report has been added to ResearchAndMarkets.com's offering.
The global syngas market reached a volume of 308.8 GWth in 2021. Looking forward, the publisher expects the market to reach 574.5 GWth by 2027, exhibiting a CAGR of 10.3% during 2022-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Syngas, or synthesis gas, is a fuel gas mixture of carbon monoxide, hydrogen, carbon dioxide and trace gases. It is produced through gasification of carbon-containing fuel such as coal when it is exposed to heat, air and water in a closed space. Since syngas has over half of the energy density of natural gas, it can be easily burnt and used as a fuel source. It is carbon-rich and is extensively used to generate Synthetic Natural Gas (SNG), oxo-chemicals, dimethyl ether, hydrogen and ammonia or methanol for industrial applications. It is also used to produce a variety of fertilizers, solvents, fuels and synthetic materials.
Growing demand for syngas from the chemical industry is one of the key factors driving the market growth. Furthermore, syngas is primarily used to produce SNG that is used in the form of Liquified Natural Gas (LNG) and Compressed Natural Gas (CNG) in rail, marine and road transportation industries. It can also be used to fuel gas engines for power supply owing to benefits such as low energy costs, increased stability and predictability.
Moreover, the development of underground coal gasification (UCG) method is also creating a positive outlook for the market. It facilitates the completion of in-situ gasification process that converts coal into syngas. This is catalyzing the market growth as it reduces the need to transport the feedstock to the gasification plants, which consequently provides significant cost benefits. Additionally, growing environmental consciousness and stringent government regulations regarding the usage of clean fuels are also significantly contributing to the market growth. Syngas is crucial in reducing the waste pollution in landfills and greenhouse gases from the atmosphere.
Key Questions Answered in this Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Syngas Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Gasifier Type
5.5 Market Breakup by Feedstock
5.6 Market Breakup by Technology
5.7 Market Breakup by End-Use
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Gasifier Type
7 Market Breakup by Feedstock
8 Market Breakup by Technology
9 Market Breakup by End-Use
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/7ijb12
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Corpus Christi Liquefaction Stage III, LLC (“CCL Stage III”), has entered into a lump sum, turnkey, engineering, procurement and construction (“EPC”) contract with Bechtel for the Corpus Christi Stage III Project. In addition, CCL Stage III has released Bechtel to commence early engineering, procurement and other site work at the Corpus Christi Stage III Project under a limited notice to proceed (“LNTP”).
The Corpus Christi Stage III Project is a fully permitted project consisting of up to seven midscale trains, each with an expected liquefaction capacity of approximately 1.49 million tonnes per annum (“mtpa”) with a total production capacity of more than 10 mtpa. The project is commercially underpinned by long-term agreements with creditworthy counterparties.
“We are pleased to once again partner with Bechtel on the Corpus Christi Stage III Project, and we look forward to building upon the unmatched track record for execution excellence the Cheniere and Bechtel relationship has established while successfully building our LNG platform. The signing of this EPC contract and the issuance of LNTP mark important steps towards a Final Investment Decision on the project, which we expect to occur this summer. We are excited to have the project underway and are focused on the remaining steps required in order to reach FID,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “The Corpus Christi Stage III Project commences as global LNG market fundamentals highlight the criticality of natural gas in the global energy mix. We look forward to providing our customers with reliable and flexible LNG from the Corpus Christi Stage III Project starting in 2025.”
“Cheniere’s award of the EPC contract for the third phase of the LNG development at the Corpus Christi complex is another important step in our long-term partnership to deliver affordable cleaner energy to the world,” said Brendan Bechtel, Chairman and CEO of Bechtel. “The industry leading results we have helped Cheniere achieve over the last nine years are a testament to the power of a ‘One Team’ approach built upon shared goals and trust.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 million tonnes per annum of LNG in operation. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission.
About Bechtel
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Energy; Infrastructure; Nuclear, Security & Environmental; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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’s 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’s LNG terminal and pipeline businesses, including liquefaction facilities, (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, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere 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’s 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’s 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 does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
Innovation-focused business unit of JB Poindexter makes inaugural appearance at NTEA’s premier industry event
INDIANAPOLIS--(BUSINESS WIRE)--EAVX, a business unit of JB Poindexter & Co (JBPCO) which collaborates with advanced electric and alternative power chassis producers as well as the most innovative technology partners today announced their Work Truck Week debut. Attendees can visit the EAVX booth No. 5143, located in the center of the five other JBPCO business unit booths exhibiting at the show.
EAVX’s presence will include an interactive design studio that asks conference attendees the question: “What’s your next?” This studio will illustrate the enterprise-wide collaboration occurring within the JBPCO family of businesses. The design studio will serve as an innovation hub at the conference, providing a location for industry experts and peers to meet and propel conversations around the future of commercial vehicles, while also discussing concrete applications and utilizations of the latest technology concepts.
“The EAVX team is on a mission to create the next generation of commercial vehicles by integrating body and chassis with leading-edge technology and innovation,” said Mark Hope, Chief Operating Officer and General Manager at EAVX. “We strive to be at the forefront of design, manufacturing and serviceability of the work truck industry by leveraging the resources of JBPCO and collaborating with industry leaders in electric- and alternative-power chassis and technology suppliers. Together, we are transforming the world’s largest fleets for a more sustainable future.”
Onsite JBPCO collaboration examples include Reading Truck with Zeus Electric Chassis, and Morgan Truck Body vehicles on electric chassis with EAVX technology upfitted within. Showcasing a wide variety of its next-generation technology for the work truck industry, EAVX will illustrate firsthand how these innovative concepts can be implemented into their VX Control system, the technology infrastructure of each vehicle. Among technologies integrated into the multiplexed system, attendees can expect to experience 360-degree camera systems, digital rear view and side view mirrors, and an RFID tool finder, a system that provides a dashboard notification when a user has left work truck items at a jobsite.
“As the innovation hub of JBPCO, EAVX is collaborating with chassis manufacturers and technology suppliers across our business enterprise to optimize the design and manufacture of next-generation commercial vehicles,” said John Poindexter, CEO and Chairman at JBPCO. “EAVX’s holistic approach to integration, deployment and serviceability empowers customers to meet higher standards for sustainability and performance—transforming the road ahead.”
To keep up with the latest industry news, learn more about EAVX or how the company is innovating the work truck industry, visit jbpoindexter.com/eavx.
About EAVX
EAVX, the newest business unit and subsidiary of JB Poindexter & Co, collaborates with the most advanced electric and alternative power chassis producers, allowing chassis partners to focus on their revolutionary and proprietary technologies. EAVX and the individual business units of JBPCO are the integration bodybuilders of choice for chassis producers serving present and future EV and alternative fuel markets and advanced vehicle technology markets. Visit jbpoindexter.com/eavx for more information.
About JB Poindexter & Co
JB Poindexter & Co is a portfolio of businesses that provide best-in-class commercial automotive and manufacturing goods and services. The company applies innovative operational and financial disciplines to truck and van bodies, pickup truck covers and accessories, industrial vehicle storage and shelving, funeral coaches, limousines, specialty industrial parts and expandable foam packaging. The portfolio of industry-leading business units includes Morgan Truck Body, Morgan Olson, Reading, Truck Accessories Group, EFP Corporation, Specialty Vehicle Group, MIC Group, Masterack and EAVX. For more information, visit JBPoindexter.com or LinkedIn.
Hunter Dodson
512-914-6745
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FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it entered into an agreement with Mosolf SE & Co. KG (“Mosolf”), one of Europe’s largest automotive logistics and service providers, to acquire a 65% equity interest in Tropos Motors Europe GmbH (“TME”), a wholly owned subsidiary of Mosolf, for €3.25 million and assume 100% of a shareholder loan from Mosolf to TME in the amount of €11.9 million. The transaction is subject to customary closing conditions and is expected to close in March 2022.
TME has been a strategic, private label channel partner and one of the largest customers of Cenntro since 2019. TME assembles and distributes light electric commercial vehicles, based on Cenntro’s Metro® model, in Europe under the brand “ABLE.” As of February 28, 2022, TME has a distribution network of 50 dealers in Germany and 13 importers in Europe across sixteen countries, including France, Spain, Portugal, the Netherlands, Belgium, Austria, Italy, Denmark, and the Czech Republic, and also sells directly to major fleet providers. Following the closing of the acquisition, it is anticipated that TME will assemble and distribute the full line of Cenntro’s products for the European market, including the Metro®, the Logistar™ series and the Neibor® series for last mile on-demand delivery and related services.
“This acquisition will accelerate Cenntro’s expansion within EMEA (Europe, Middle East and Africa) and represents a significant step in the Company’s growth strategy to be a leading provider of electric commercial mobility,” said Peter Wang, Chairman and CEO of Cenntro. “Through this acquisition, we gain a significant geographical advantage and the addition of key management personnel within the European region, unlocking significant global growth opportunities for the Company.”
The acquisition expands Cenntro’s assembly capabilities and distribution network in EMEA and adds a strategic customer network in Europe.
"This is a milestone for both companies. With Cenntro we have the perfect partner to offer different electric commercial vehicles across Europe, Middle East and Africa. We now can meet customer needs even better with a wide range of light to medium-duty commercial vehicles," said Dr Jörg Mosolf, Chairman and CEO of the MOSOLF Group.
About Cenntro Electric Group
Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology company with advanced, market-validated electric commercial vehicles. Cenntro plans to lead the transformation in the automotive industry through scalable, decentralized production and fully digitalized autonomous driving solutions empowered by the Cenntro iChassis. Cenntro has produced and delivered over 3,600 commercial EVs in more than 26 countries. For more information about Cenntro, please visit www.cenntroauto.com.
About TROPOS MOTORS EUROPE
Tropos Motors Europe, a subsidiary of the MOSOLF Group, is a specialist for compact, electric commercial vehicles for a wide range of target groups and applications. These include, in particular, delivery and parcel services, industry and intralogistics, technical trades and facility management, food retail, hospitality and tourism, zoos, amusement parks and sports facilities as well as cities and municipalities. www.tropos-motors.de
About MOSOLF Group
The MOSOLF Group is one of the leading system service providers for the automobile industry in Europe. The family business, which was founded in 1955, has its headquarters in Kirchheim unter Teck, and provides a range of services. These include tailor-made logistics, technical and service solutions provided using a network of business sites across Europe and a multi-modal fleet. The spectrum of services provided by the MOSOLF Group covers the complete value-added chain for automobile logistics from the end of the production line to recycling. In addition to transporting vehicles (cars, light vans, high & heavy vehicles), workshop services, special vehicle construction, industrial paintwork, mobility services, releasing agent services, and vehicle recycling are all part of the portfolio of services. Within this context, MOSOLF provides all-round, customized solutions for the automobile industry, fleet operators, and dealers from one source and also handles the associated data flow using modern software solutions. To learn more, visit www.mosolf.com.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding decentralized production, fully digitalized autonomous driving solutions and expected synergies and positive developments that could result from this acquisition. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. Among the key factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are the following: our inability to consummate the proposed transaction, including due to the failure to satisfy any closing conditions in the purchase agreement; our ability to successfully integrate the acquired business and to maximize expected synergies; and our ability to realize the expected benefits of the proposed transaction. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on January 5, 2022 and which may be viewed at www.sec.gov.
Investor Relations Contact:
Chris Tyson
MZ North America
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949-491-8235
Company Contact:
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Performance testing demonstrates patented polysiloxane technology provides long-term steel protection in challenging environments with single coat
PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE: PPG) today announced that its PPG PSX™ polysiloxane coatings have been tested successfully by an independent, third-party laboratory to the requirements for C4H (or high C4) certification under the ISO 12944-6:2018 international standard for corrosion protection of steel structures by paint systems.
Under this standard, an exposure environment classified as C4 is described as highly corrosive. Such environments include industrial and coastal areas with moderate salinity and interior exposure environments like chemical plants, natatoriums, and coastal shipyards and boatyards.
PPG PSX 700 and PPG PSX 805 coatings that are applied directly onto metal in a single coat demonstrated corrosion resistance that meets high C4 requirements, which estimate a durability range of 15 to 25 years.
PPG’s patented PSX coatings use a polysiloxane resin technology from Dow to provide long-term corrosion, weathering and chemical resistance in exposed steel applications, including stadiums, arenas, water towers and hospitals foyers, with fewer coats than traditional systems. Other coating technology can require multiple coats to achieve the same level of protection as a single PPG PSX topcoat or two-coat PSX coating system incorporating a zinc primer. Because of these performance capabilities, specifying a PPG PSX coating can result in material cost savings, less energy-intensive production and application, and fewer recoats over time.
“C4H certification is a significant achievement for the PPG PSX coating portfolio,” said Scott Doering, director of sales and technical service, protective and marine coatings, U.S. “It confirms the long-term protection these products can offer for steel assets in even very challenging conditions with fewer coats. We’re proud to offer customers this unique combination of high performance with lower environmental impacts.”
In addition to requiring fewer coats to achieve the same level of protection as alternative systems, PPG PSX coatings are ultra-high solids and isocyanate-free to meet the most stringent environmental emissions regulations. They also offer excellent color and gloss retention by resisting the fading, chalking and general deterioration over time that are a common limitation of more traditional finishes, such as epoxies and acrylic urethanes.
For more information on PPG PSX coatings and PPG’s broad offering of protective and marine coatings, visit www.ppgpmc.com.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for nearly 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $16.8 billion in 2021. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
We protect and beautify the world and PSX are trademarks and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.
PPG Media:
Gina Reid
Protective and Marine Coatings
+ 1 412-514-2960
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www.ppgpmc.com
Creating a Scaled Unconventional U.S. Oil Producer with a Premier Williston Basin Acreage Position Totaling 972K Net Acres and Combined 4Q21 Production of 167.8 Thousand Boepd
Transaction Accretive to Key Per-share Metrics While Maintaining a Strong, Relatively Unlevered Pro Forma Balance Sheet at Close
Combined Company to Benefit from Significantly Enhanced Operating Scale and Free Cash Flow; Expect to Deliver Sustainable Dividends and Attractive Returns to Shareholders
Transaction Expected to Generate Administrative and Operational Cost Synergies of Approximately $65MM Annually
Progressive ESG Profile with Top Tier Gas Capture Track Record in North Dakota
Lynn Peterson to Serve as Executive Chair of the Board; Danny Brown to Serve as President and CEO
Companies to Host Conference Call Today at 8:30 a.m. ET (7:30 a.m. CT)
DENVER & HOUSTON--(BUSINESS WIRE)--The sell-side dial-in phone number for the conference call should read: 1-877-328-5506 (instead of 1-877-382-5506).
The updated release reads:
WHITING AND OASIS TO COMBINE IN $6.0 BILLION MERGER OF EQUALS TRANSACTION
Creating a Scaled Unconventional U.S. Oil Producer with a Premier Williston Basin Acreage Position Totaling 972K Net Acres and Combined 4Q21 Production of 167.8 Thousand Boepd
Transaction Accretive to Key Per-share Metrics While Maintaining a Strong, Relatively Unlevered Pro Forma Balance Sheet at Close
Combined Company to Benefit from Significantly Enhanced Operating Scale and Free Cash Flow; Expect to Deliver Sustainable Dividends and Attractive Returns to Shareholders
Transaction Expected to Generate Administrative and Operational Cost Synergies of Approximately $65MM Annually
Progressive ESG Profile with Top Tier Gas Capture Track Record in North Dakota
Lynn Peterson to Serve as Executive Chair of the Board; Danny Brown to Serve as President and CEO
Companies to Host Conference Call Today at 8:30 a.m. ET (7:30 a.m. CT)
Whiting Petroleum Corporation (NYSE: WLL) (“Whiting”) and Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis") today announced they have entered into an agreement to combine in a merger of equals transaction. The combined company will have a premier Williston Basin position with top tier assets across approximately 972K net acres, combined production of 167.8 thousand boepd, significant scale and enhanced free cash flow generation to return capital to shareholders.
Under the terms of the agreement, Whiting shareholders will receive 0.5774 shares of Oasis common stock and $6.25 in cash for each share of Whiting common stock owned. In connection with the closing of the transaction, Oasis shareholders will receive a special dividend of $15.00 per share. The combined company will have an enterprise value of ~$6.0B based on the exchange ratio and the closing share prices for Whiting and Oasis as of March 4, 2022. Upon completion of the transaction, Whiting shareholders will own approximately 53% and Oasis shareholders will own approximately 47% of the combined company on a fully diluted basis.
Upon closing, Whiting’s President and CEO, Lynn Peterson, will serve as Executive Chair of the Board of Directors of the combined company. Oasis’ CEO, Danny Brown, will serve as President and Chief Executive Officer and as a member of the Board. The combined company will be headquartered in Houston upon closing but will retain the Denver office for the foreseeable future. The combined company will operate under a new name and is expected to trade on the NASDAQ under a new ticker to be announced prior to closing.
“The combination will bring together two excellent operators with complementary and high-quality assets to create a leader in the Williston Basin, poised for significant and resilient cash flow generation,” said Mr. Brown. “Over the last year, both companies have executed a series of deliberate strategic transactions, reducing costs and establishing a leading framework for ESG and return of capital. The combination of the two companies, together with the ongoing momentum from these strategic actions, will accelerate our efforts and ideally position the combined company to generate strong free cash flow, execute a focused strategy and enhance the return of capital.”
Mr. Peterson added, “We are bringing together two like-minded companies and cultures through a merger-of-equals transaction. Both organizations have outstanding talent and operational practices that we are excited to integrate to create an even stronger combined company. This is also an exciting and very positive development for the communities in which we operate and the great states of North Dakota and Montana. We look forward to unlocking the enormous potential of our assets and organizations for the benefit of our stakeholders.”
Combined Company Positioned to Succeed in Dynamic E&P Environment
Governance and Leadership
Upon closing, the Board of Directors of the combined company will consist of ten directors, comprising four independent directors from the current Whiting Board, as well as Mr. Peterson, and four independent directors from the current Oasis Board, along with Mr. Brown.
The remainder of the company’s leadership team includes Michael Lou, Oasis’ CFO, Chip Rimer, Whiting’s COO and Scott Regan, Whiting’s GC, who will serve in their respective capacities in the combined company.
Timing and Approvals
The transaction, which is expected to close in the second half of 2022, has been unanimously approved by the boards of directors of both companies. The closing of the transaction is subject to customary closing conditions, including, among others, approval by Whiting and Oasis shareholders.
Advisors
Citi is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Whiting. Tudor, Pickering, Holt & Co. and RBC Capital Markets LLC are serving as financial advisors and Vinson & Elkins LLP is serving as legal advisor to Oasis.
Conference Call and Additional Materials
Whiting and Oasis will hold a joint conference call today, March 7, 2022 at 8:30 a.m. Eastern Time / 7:30 a.m. Central Time to discuss the transaction. An investor presentation regarding the transaction can also be found at www.whiting.com and www.oasispetroleum.com.
Investors, analysts and other interested parties are invited to listen to the webcast:
Date: Monday, March 7, 2022
Time: 8:30 a.m. Eastern Time / 7:30 a.m. Central Time
Pre-registration link: https://dpregister.com/sreg/10164478/f1e3f0537c
Live Webcast: https://services.choruscall.com/mediaframe/webcast.html?webcastid=gwcvNTyw
Sell-side analysts wishing to ask a question may use the following dial-in:
Dial-in: 1-877-328-5506
Intl. Dial-in: 1-412-317-5422
Website: www.whiting.com and www.oasispetroleum.com
A recording of the conference call will be available beginning approximately two hours after the call on the day of the call and will be available until Monday, March 14, 2022 by dialing:
Replay dial-in: 1-877-344-7529
Intl. replay: 1-412-317-0088
Replay access: 6137428
The call will also be available for replay until March 14, 2022 at www.whiting.com and www.oasispetroleum.com.
About Whiting
Whiting, a Delaware corporation, is an independent oil and gas company engaged in the development, production and acquisition of crude oil, NGLs and natural gas primarily in the Rocky Mountains region of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and Montana. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit http://www.whiting.com.
About Oasis
Oasis is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. Oasis is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company's website at www.oasispetroleum.com.
Forward-Looking Statements
Certain statements in this document concerning the transaction, including any statements regarding the expected timetable for completing the transaction, the results, effects, benefits and synergies of the transaction, future opportunities for the combined company, future financial performance and condition, guidance and any other statements regarding Whiting’s and Oasis’ future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are “forward-looking” statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “probable,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “would,” “potential,” “may,” “might,” “anticipate,” “likely” “plan,” “positioned,” “strategy,” and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding Whiting’s and Oasis’ plans and expectations with respect to the transaction and the anticipated impact of the transaction on the combined company’s results of operations, financial position, growth opportunities and competitive position. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the possibility that shareholders of Oasis may not approve the issuance of new shares of Oasis common stock in the transaction or that shareholders of Whiting may not approve the merger agreement; the risk that a condition to closing of the transaction may not be satisfied, that either party may terminate the merger agreement or that the closing of the transaction might be delayed or not occur at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the diversion of management time on transaction-related issues; the ultimate timing, outcome and results of integrating the operations of Whiting and Oasis; the effects of the business combination of Whiting and Oasis, including the combined company’s future financial condition, results of operations, strategy and plans; the ability of the combined company to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance operations in the manner expected; regulatory approval of the transaction; the effects of commodity prices; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the transaction. Expectations regarding business outlook, including changes in revenue, pricing, capital expenditures, cash flow generation, strategies for our operations, oil and natural gas market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.
Additional factors that could cause results to differ materially from those described above can be found in Whiting’s Annual Report on Form 10-K for the year ended December 31, 2021, as amended by Amendment No. 1 thereto, which is on file with the Securities and Exchange Commission (the “SEC”) and available from Whiting’s website at www.whiting.com under the “Investor Relations” tab, and in other documents Whiting files with the SEC; and in Oasis’ Annual Report on Form 10-K for the year ended December 31, 2021, which is on file with the SEC and available from Oasis’ website at www.oasispetroleum.com under the “Investor Relations” tab, and in other documents Oasis files with the SEC.
All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Whiting nor Oasis assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
No Offer or Solicitation
Communications in this news release do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer 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.
Additional Information and Where You Can Find It
In connection with the proposed transaction, Whiting and Oasis intend to file materials with the SEC, including a Registration Statement on Form S-4 of Oasis (the "Registration Statement") that will include a joint proxy statement/prospectus of Whiting and Oasis. After the Registration Statement is declared effective by the SEC, Whiting and Oasis intend to mail a definitive proxy statement/prospectus to the shareholders of Whiting and the shareholders of Oasis. This news release is not a substitute for the joint proxy statement/prospectus or the Registration Statement or for any other document that Whiting or Oasis may file with the SEC and send to Whiting’s shareholders and/or Oasis' shareholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF WHITING AND OASIS ARE URGED TO CAREFULLY AND THOROUGHLY READ THE JOINT PROXY STATEMENT/PROSPECTUS AND THE REGISTRATION STATEMENT, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY WHITING AND OASIS WITH THE SEC, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT WHITING, OASIS, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS.
Investors will be able to obtain free copies of the Registration Statement and joint proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by Whiting and Oasis with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Whiting will be available free of charge from Whiting’s website at www.whiting.com under the “Investor Relations” tab or by contacting Whiting’s Investor Relations Department at (303) 837-1661 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Copies of documents filed with the SEC by Oasis will be available free of charge from Oasis’ website at www.oasispetroleum.com under the “Investor Relations” tab or by contacting Oasis’ Investor Relations Department at (281) 404-9600 or This email address is being protected from spambots. You need JavaScript enabled to view it..
Participants in the Solicitation
Whiting, Oasis and their respective directors and certain of their executive officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from Whiting’s shareholders and Oasis’ shareholders in connection with the transaction. Information regarding the executive officers and directors of Oasis is included in its definitive proxy statement for its 2021 annual meeting filed with the SEC on March 18, 2021. Information regarding the executive officers and directors of Whiting is included in its definitive proxy statement for its 2021 annual meeting filed with the SEC on March 29, 2021. Additional information regarding the persons who may be deemed participants and their direct and indirect interests, by security holdings or otherwise, will be set forth in the Registration Statement, joint proxy statement/prospectus and other materials when they are filed with the SEC in connection with the transaction. Free copies of these documents may be obtained as described in the paragraphs above.
Whiting
Brandon Day
Investor Relations Manager
(303) 837‑1661
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Oasis
Bob Bakanauskas
Director, Investor Relations
(281) 404-9600
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CEO Andrew Bruce Joins ExxonMobil, Blockchain for Energy and S&P to Discuss the Value and Adoption of Blockchain-powered Smart Contracts During CERAWeek by IHS Markit 2022
HOUSTON--(BUSINESS WIRE)--CERAWeek 2022 — Data Gumbo, the industrial smart contract network company, today announced the launch of GumboStore, the first industry-grade smart contract marketplace. GumboStore enables companies to easily create, deploy, publish or license intuitive smart contract templates to eliminate transactional and informational friction in commercial relationships.
“GumboStore makes smart contracts accessible to companies wanting to streamline operations and automate contractual relationships without having to code,” said Andrew Bruce, Founder and CEO, Data Gumbo. “The marketplace contains numerous open source templates and other smart contracts published by leading blockchain and industrial organizations. By enhancing GumboNet’s smart contract network with a marketplace, businesses gain access to pre-built, intuitive smart contracts that can be deployed immediately, resulting in significant cost and time savings.”
Access to GumboStore requires a subscription to Data Gumbo’s global, enterprise smart contract network, GumboNet™. Industrial companies on the network can access pre-integrated data sources configured by Data Gumbo, existing templates in the marketplace and the ability to publish smart contracts to create new revenue streams. GumboStore enables companies to implement blockchain-powered smart contracts to free up working capital and currently includes an array of smart contracts built for industrial use cases such as:
In addition to launching GumboStore, Andrew Bruce is participating in CERAWeek 2022, which is currently taking place in Houston, TX. Bruce will join executives from Blockchain for Energy, S&P Global Commodity Insights and ExxonMobil in a panel discussion entitled “Growth & Success of Blockchain in Oil & Gas Supply Chains” taking place on March 8 from 9:30 am - 10:10 a.m. CST. The panel will offer attendees insights into how the adoption of blockchain-powered smart contracts can afford operators and service providers a surefire way to guarantee transactional certainty, automate environmental, social and governance (ESG) reporting and improve bottom lines in a low-risk environment.
About Data Gumbo
Data Gumbo is the smart contract company trusted by global industrial enterprises. The only network of enterprises and their customers, suppliers and vendors that successfully incorporates real-time sensor level and field data to validate transactions, GumboNet™ reduces costs by more than 10% for all network members by automatically eliminating payment delays, disputes and complicated reconciliations.
To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and L37, a hybrid venture capital and private equity company. Data Gumbo is headquartered in Houston, Texas, with global offices in Stavanger, Norway, and London, UK. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.
Media:
Tim Morin
fama PR for Data Gumbo
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Increase brings total credit facility size to $495 million, intended to fund future growth objectives
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced it has entered into an amendment and restatement to the company’s current senior secured credit facility with a group of lenders led by Bank of America. This amendment and restatement resulted in a $262 million increase, bringing Ameresco’s credit facility total to $495 million.
The financing was secured with Bank of America and included an increase in Ameresco’s revolver to $200 million, as well as an increase to the existing term loan to $75 million and a new 18-month Delayed-Draw Term Loan A of up to $220 million. Ameresco plans to use the facility to fund various near and long-term growth objectives, including support of Ameresco’s design-build agreement with Southern California Edison’s 537 megawatt (MW) large distribution battery energy storage systems (BESS) and longer-term goals such as growth of Ameresco’s energy asset portfolio, potential acquisition opportunities and general corporate purposes.
“This large-scale facility will provide a low cost and flexible source of capital as we continue to develop and diversify our portfolio of cleantech solutions and renewable energy projects,” said Doran Hole, EVP and Chief Financial Officer, Ameresco. “We are grateful that Bank of America has continued to share our vision for a more sustainable future through energy resiliency and efficiency solutions.”
“We welcomed the opportunity to again work with our long-time client, Ameresco, Inc., and to support the continued growth of the company. The increased financial capacity behind this amendment speaks to our shared commitment for a greener future,” said Michael Palmer, Bank of America Market Executive. “At Bank of America, we help our clients access financial resources to achieve success in making the world more sustainable.”
BOFA Securities, Inc., Fifth Third Securities, Inc. and KeyBanc Capital Markets, Inc., acted as joint lead arrangers and joint bookrunners, Webster Bank N.A. acted as Co-Documentation Agent, and Bank of America, N.A., is acting as Administrative Agent for the facility.
To learn more about the energy solutions offered by Ameresco, visit www.ameresco.com/solutions/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. 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.
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to use of the proceeds from the facilities as well as Ameresco’s growth plans. For a list and description of risks and uncertainties, please see Ameresco's reports and other filings with the U.S. Securities and Exchange Commission. Ameresco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--4AIR, the first and only rating system focused on comprehensive sustainability in private aviation, today announced that it will purchase carbon offset credits to make Corporate Jet Investor London 2022 carbon-neutral. 4AIR will offset the emissions from the travel of the event’s 500 attendees to and from the conference in London on March 8-9, 2022, as well as the emissions impact of other activities during the conference.
“Corporate Jet Investor London ranks among the world’s most prestigious private aviation gatherings, and, by making it carbon-neutral, we are raising the visibility of sustainability globally,” said 4AIR President Kennedy Ricci. “In addition to carbon offset credits, we also will help educate attendees about how they can reduce carbon emissions and incorporate sustainability into all aspects of the event, seeking to minimize private aviation’s impact on the natural environment.”
Ricci will be a featured speaker during the March 8th panel “Can Business Aviation Become Sustainable?” on comprehensive decarbonization strategies.
“We are delighted to have 4AIR offsetting the CJI event series, ensuring that corporate aviation leaders can gather in a more sustainable manner while discussing opportunities to further environmental initiatives for their organisations,” said Alasdair Whyte, Co-founder of Corporate Jet Investor.
The impact of travel-related activity at major conferences, such as air travel, ground travel and hotels, can be significant, accounting for 90 percent or more of the carbon footprint of many global events.
The carbon offset credits purchased by 4AIR on behalf of event participants help fund verified emissions reduction projects, including renewable energy and nature-based projects in developing nations, that also generate societal benefits. The number of credits required to offset the emissions from each aircraft traveling to and from the conference is calculated using globally recognized greenhouse gas accounting for energy-intensive activities.
Carbon dioxide emissions will be offset at 4AIR’s carbon-neutral Bronze Level, the first of the four levels in 4AIR’s increasingly progressive rating programs to promote sustainability. Since its launch in January 2021, 4AIR has helped private jet owners, operators, and passengers, reduce more than 1 million metric tons of carbon dioxide using verified carbon offsets and Sustainable Aviation Fuel (SAF). During the year, 4AIR enabled more than 250,000 carbon-neutral flight hours, offset more than 80,000 emissions-neutral flight hours, and made possible more than 125 million carbon-neutral flight miles.
In addition to Corporate Jet Investor 2022, 4AIR has promoted awareness and education of sustainability by offsetting the carbon impact of major events such as the Snow Polo World Cup in St. Moritz, Switzerland; Corporate Jet Investor Miami; and the National Business Aviation Association’s 2021 Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas, as well as extending awareness by offsetting and supplying SAF to private flights arriving and departing from major private fly-in events such as Monterey Car Week.
“Sustainability is everybody’s responsibility and, by taking steps at Corporate Jet Investor London that will reduce carbon emissions, we can demonstrate to leaders in private aviation worldwide the kind of positive impact they and their organizations can have on the environment,” said Ricci.
About 4AIR
4AIR is an industry pioneer offering sustainability solutions beyond just simple carbon neutrality. Its industry-first framework seeks to address climate impacts of all types and provides a simplified and verifiable path for private aviation industry participants to achieve meaningful aircraft emissions counteraction and reduction.
The 4AIR framework offers four levels, each with specific, science-based goals, independently verified results, and progressively greater impacts on sustainability that make it easy for private aviation users to pursue sustainability through access to carbon markets, use of Sustainable Aviation Fuel, and support for new technologies and other strategies.
All carbon credits through 4AIR are quantified and verified through the most respected and international leading bodies that issue and register credits, including the American Carbon Registry, Climate Action Reserve, Verified Carbon Standard (VERRA), and The Gold Standard. Additionally, end-of-year commitment audits are independently verified by third parties. 4AIR also serves the demand signal working groups with the World Economic Forum’s Clean Skies for Tomorrow Coalition.
For more information, visit us at https://www.4air.aero/.
Media Contact:
Erin Daigle
The Hubbell Group, Inc.
Phone: 781-815-2827
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DUBLIN--(BUSINESS WIRE)--The "Oil Price Sensitivity Analysis and Macroeconomic Opportunities" report has been added to ResearchAndMarkets.com's offering.
The model was developed through a comprehensive scenario-based analysis of demand- and supply-side factors influencing oil prices. Price forecasts until 2025 were generated under 3 scenarios - baseline, high, and low oil prices.
International crude oil prices are sensitive to oil production policies, geopolitical issues, government regulations, and several other factors. For improved foresight and scenario-planning capabilities, this research service encompasses an oil price forecast model until 2025.
To establish the sensitivity of industry output to oil prices, a comprehensive correlation exercise was undertaken for multiple countries. Food products, chemicals, pharmaceuticals, wholesale and retail trade, and finance and insurance demonstrated a strong negative correlation with oil prices. Qualitative findings further support the nature and strength of the correlation between oil prices and these industries.
The study delves into a scenario-based impact assessment across countries. The impact of the high and low oil prices scenarios was explored for a combination of net oil exporters and importers, that is, Saudi Arabia, Qatar, the United Kingdom, and India.
For the United States, Saudi Arabia, and Russia, GDP growth, inflation, and fiscal deficit outlooks were explored in detail in light of price scenarios. For industries showing a strong negative correlation with oil prices, scenario-based industry forecasts were generated.
Key Issues Addressed
Key Topics Covered:
1. Strategic Imperatives
2. Oil Prices and the Global Macroeconomic Environment
3. 2025 Oil Demand, Supply, and Price Model
4. Oil Price Impact on Macroeconomic Factors
5. Oil Price and Industry Correlation Analysis
6. Oil Prices and Industry Impact Assessment
7. Growth Opportunity Universe
8. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/kzc5t
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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CASPER, Wyo.--(BUSINESS WIRE)--Cowboy Midstream (Cowboy), a full-service midstream provider, has announced the planned opening of their Ross Road Terminal. The Ross Road Terminal is a Crude Oil Truck Offload Facility in the Powder River Basin. The Terminal will be capable of offloading and shipping Powder River crude in volumes of up to 20,000 bbls/day. Cowboy’s Ross Road Terminal is strategically placed in the Powder River Basin on Ross Road and sits directly adjacent, and is tied into, Cowboy Midstream’s Powell Lateral II Pipeline. Ross Road Terminal will initially include truck offloading LACTs, storage capacity of 10,000 barrels, full PDC/MCC, and pipeline pumps. The Powell Lateral II Pipeline is connected into a larger transmission system that will give shippers the opportunity to access and capitalize on multiple downstream markets for their Powder River Crude.
“Cowboy is excited to place its crude transportation system in operation to bring high quality Rocky Mountain Sweet Crude to market via its low-cost Powell Lateral II transportation system connected to Midwest, Wyoming and all destinations beyond,” said Gregg Werger of Cowboy Midstream, LLC.
Construction activities are underway, and Cowboy expects the new Terminal to be ready for crude oil receipt and transportation 1 April 2022.
COWBOY TEAM
Headquartered in Casper, Cowboy was formed in May of 2017 to provide efficient, cost-effective gathering and transportation services to oil and gas producers.
The Cowboy team includes Gregg Werger, Managing Operations Partner, whose experience in the pipeline and crude transportation sector is unmatched; and Isaac Swanson, Business Development, who’s decades of equipment and system experience enable Cowboy to optimize its asset infrastructure.
ABOUT COWBOY MIDSTREAM
Cowboy Midstream LLC is a growth-oriented midstream company based in Casper, WY with assets in the Wind River and Powder River Basins.
Cowboy’s focus on crude oil gathering and transportation provides our customers integrated solutions and services that allow them to develop resources while maximizing their netback potentials.
Cowboy Midstream LLC is a privately owned and privately funded company. For more information, visit www.cowboymidstreamllc.com.
Isaac Swanson
307-337-1412
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DUBLIN--(BUSINESS WIRE)--The "Oil Price Sensitivity Analysis and Macroeconomic Opportunities" report has been added to ResearchAndMarkets.com's offering.
The model was developed through a comprehensive scenario-based analysis of demand- and supply-side factors influencing oil prices. Price forecasts until 2025 were generated under 3 scenarios - baseline, high, and low oil prices.
International crude oil prices are sensitive to oil production policies, geopolitical issues, government regulations, and several other factors. For improved foresight and scenario-planning capabilities, this research service encompasses an oil price forecast model until 2025.
To establish the sensitivity of industry output to oil prices, a comprehensive correlation exercise was undertaken for multiple countries. Food products, chemicals, pharmaceuticals, wholesale and retail trade, and finance and insurance demonstrated a strong negative correlation with oil prices. Qualitative findings further support the nature and strength of the correlation between oil prices and these industries.
The study delves into a scenario-based impact assessment across countries. The impact of the high and low oil prices scenarios was explored for a combination of net oil exporters and importers, that is, Saudi Arabia, Qatar, the United Kingdom, and India.
For the United States, Saudi Arabia, and Russia, GDP growth, inflation, and fiscal deficit outlooks were explored in detail in light of price scenarios. For industries showing a strong negative correlation with oil prices, scenario-based industry forecasts were generated.
Key Issues Addressed
Key Topics Covered:
1. Strategic Imperatives
2. Oil Prices and the Global Macroeconomic Environment
3. 2025 Oil Demand, Supply, and Price Model
4. Oil Price Impact on Macroeconomic Factors
5. Oil Price and Industry Correlation Analysis
6. Oil Prices and Industry Impact Assessment
7. Growth Opportunity Universe
8. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/kzc5t
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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DUBLIN--(BUSINESS WIRE)--The "Global Naval EO/IR Competitive Landscape and Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The naval electro-optical/infrared (EO/IR) market will continue to grow and evolve as countries continue to implement naval modernization and force expansion programs as tensions around the world rise and neglected fleets reach their expected end-of-life dates.
The need for modern and more capable multi-role fleets comes as European and North American navies are becoming involved in the Arctic arms race, and as trade fleets require greater protection from piracy and Iranian actions. The threat of Chinese expansionism as a result of more frequent airspace violations and a rapidly increasing fleet has compelled the United States to develop a larger fleet that can operate in littoral environments and created a resurgence of submarine programs across the Asia-Pacific region.
The main trends seen in the EO/IR market include a merging of different sensor types into a single package; digitization and sensor fusion; hyperspectral and multispectral sensing; and a continual need for reduced size, weight, and power (SWaP) properties of systems. Traditionally separate EO/IR systems will merge into single packages to increase efficiency.
This report will cover the major market drivers, restraints, and growth opportunities across North America, Asia-Pacific, Europe, Central and South Asia, South America, Africa, and the Middle East. Each region is analyzed in detail to highlight the major opportunities for companies to target, and the likely competition that already exists. The global market also is examined to indicate the regions that will likely spend the most across the forecast period.
Key Topics Covered:
1. Strategic Imperatives
2. Market Overview
3. Research Scope and Methodology
4. Growth Opportunity Analysis
5. Growth Opportunity Analysis: Africa
6. Growth Opportunity Analysis: Asia-Pacific
7. Growth Opportunity Analysis: Central and South Asia
8. Growth Opportunity Analysis: Europe
9. Growth Opportunity Analysis: Middle East
10. Growth Opportunity Analysis: North America
11. Growth Opportunity Analysis: South America
12. Growth Opportunity Universe
13. The Last Word
14. Appendix
15. Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/46hupd
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
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Net Zero Carbon Emission Rebar, Wire Rod and Merchant Bar
PORTLAND, Ore.--(BUSINESS WIRE)--Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), one of North America’s largest manufacturers and exporters of recycled metal products, today announced the launch of GRN SteelTM, a line of net zero carbon products from its Cascade Steel manufacturing operations located in McMinnville, Oregon.
“The launch of our GRN SteelTM product line provides our customers with net zero carbon steel solutions as they build tomorrow’s essential infrastructure,” said Tamara Lundgren, Chairman and Chief Executive Officer. “The introduction of this new product line illustrates Cascade’s longstanding reputation for delivering exceptional service and innovative products over the last 50 years. GRN SteelTM represents a critical next step for our Company as we offer sustainable solutions to meet the needs of an increasingly metal-intensive economy.”
“Cascade has created some of the lowest carbon emission steel products in the world through electric arc furnace technology powered by primarily carbon-free hydroelectricity,” said Matt Ruckwardt, Chief of Steel Operations. “GRN SteelTM further reduces the limited Scope 1 and 2 emissions generated during our manufacturing process through a carbon offset and renewable energy credit purchase program.”
In partnership with ACT Commodities, a carbon offset broker, Cascade will source carbon offset projects to address Scope 1 emissions from the manufacturing of GRN SteelTM. Upon the sale of GRN SteelTM products, Cascade will retire credits on behalf of a customer in an amount commensurate with the carbon footprint of steel ordered. Scope 2 emissions from Cascade steel manufacturing are minimal because most electricity used to operate the facility is carbon-free hydropower. Cascade addresses Scope 2 emissions by purchasing and retiring Renewable Energy Credits each year that allow the facility to achieve net carbon-free electricity.
The launch of GRN SteelTM also represents an important step toward achieving Schnitzer’s sustainability goal of Net Zero Emissions by 2050.
“We believe that steel is an essential building block of the low-carbon future in the United States and around the world,” said Judodine Nichols, Chief Sustainability Officer. “By offering a net zero carbon solution, we are working to further our Sustainability goals which are aligned with the Paris Climate Agreement and the United Nations Sustainable Development Goals and support our customers as they advance climate commitments across multiple industries.”
GRN SteelTM products are available across the entirety of Cascade’s product offerings. Learn more at grn-steel.com.
About Schnitzer Steel
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 25 states, Puerto Rico, and Western Canada. Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over 4.3 million annual retail visits. The Company’s steel manufacturing operations, Cascade Steel Rolling Mills, produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.
Investor Relations
Michael Bennett
(503) 323-2811
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Public Affairs & Communications
Eric Potashner
(415) 624-9885
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Company Info:
www.schnitzersteel.com
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DUBLIN--(BUSINESS WIRE)--The "Biogas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The biogas market is expected to register a more than 4.5% CAGR during the forecast period 2022-2027. The outbreak of the COVID-19 in Q1 of 2020 has harmed the global biogas market. For instance, due to the outbreak of COVID-19 in 2020 much of the groundwork was stopped for Mount Everest Biogas Project in Nepal.
Further, due to the COVID-19 India is likely to miss its 15 million biogas production by 2023. The biogas market is primarily driven by rising electricity demand and the growing focus on alternative fuels to achieve an imperishable form of energy and security. However, a lack of awareness and understanding about biogas as a source of energy in the general public is likely to hinder the market growth.
Companies Mentioned
Key Market Trends
Electricity Generation to Witness a Significant Growth
Europe to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Biogas Production Installed Capacity and Forecast in GW, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Electricity Generation
5.1.2 Biofuel Production
5.1.3 Heat Generation
5.2 Feedstock
5.2.1 Livestock Manure
5.2.2 Sewage
5.2.3 Food Waste
5.2.4 Crop Residues
5.2.5 Energy Crops
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3bpo23
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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