EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary second quarter 2022 earnings results after the market close on Wednesday, July 27, 2022, followed by a conference call at 10:00 a.m. CT on Thursday, July 28, 2022. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 240 among Fortune 500 companies.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Senior Investor Relations Analyst
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, and part of The IBERDROLA Group, today announced it has signed on to the United Nations Global Compact Sustainable Ocean Principles, affirming its commitment to advancing sustainable and responsible ocean energy projects that accelerate the transformation to a cleaner and more resilient energy system. The framework, which was also signed by IBERDROLA and over 150 international businesses across various industry sectors, outlines responsible business practices for ocean activities and processes, including the development of offshore wind power.
“As we pioneer the offshore wind industry in the United States, AVANGRID is proud to join IBERDROLA and stand with the international community to reinforce our ongoing commitment to protect and preserve our ocean resources,” said Pedro Azagra, CEO of AVANGRID. “Through every stage of the development process, we have worked diligently to ensure that these historic offshore wind projects are built in an environmentally responsible manner that safeguards critical ecosystems and marine life, and in committing to this framework our company renews our promise to uphold these fundamental values.”
In signing the Sustainable Ocean Principles, AVANGRID commits to ensuring that material ocean-related risks and opportunities are integrated into its corporate strategy, risk management and reporting, and to taking action to promote the well-being of the ocean for current and future generations. The nine principles outline specific actions to safeguard Ocean Health and Productivity, ensure responsible Governance and Engagement, and promote Data Sharing and Transparency.
In January 2022, AVANGRID announced the completion of the restructuring of its existing Vineyard Wind joint venture to become the largest offshore wind supplier in New England. In total, AVANGRID has a projected offshore wind pipeline of 5 Gigawatts (GW) on the East Coast of the United States – enough to power more than two million households. In addition to its 50% stake in the first-in-the-nation Vineyard Wind 1 project (800 MW total), AVANGRID owns 100% of Commonwealth Wind (1200 MW to Massachusetts), Park City Wind (804 MW to Connecticut) and Kitty Hawk Wind (2500 MW off the coast of North Carolina).
The United Nations Global Compact has identified the development of clean renewable offshore energy such as offshore wind as a foundation of the societal transition toward a lower carbon future and a reduction in ocean and atmospheric pollution.
Building on its commitment to the Sustainable Ocean Principles, AVANGRID is attending the 2022 U.N. Ocean Conference, which seeks to propel much needed science-based innovative solutions aimed at starting a new chapter of global ocean action. Jay Borkland, AVANGRID’s Director of U.S. Ports & Supply Chain and an internationally-recognized expert on offshore wind port development, is participating in several panel discussions focused on infrastructure, decarbonization, and ocean-based climate solutions.
In November 2021, AVANGRID committed to United Nations (UN) Global Compact, the world's largest corporate sustainability initiative. In making this commitment, AVANGRID joined thousands of other companies from around the world in demonstrating its support for the development, implementation and disclosure of responsible business practices focused on a clean and just energy transition.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading sustainable energy company transitioning America toward a clean and connected future headquartered in Orange, CT, and has a footprint in 24 states with $40 billion in assets. Our primary businesses are Avangrid Networks, which serves 3.3 million electric and natural gas customers in the Northeast, and Avangrid Renewables, the third-largest renewable energy company in the U.S. with a diverse onshore and offshore renewable energy portfolio. With more than 7,000 employees, AVANGRID has built a culture that blends diversity, equity and inclusion guided by the company’s ESG+F framework and the UN Sustainable Development Goals. This has led to recognition by JUST Capital in 2021 and 2022 as one of America’s best corporate citizens and second in utilities for our commitment to the environment and the communities we serve. AVANGRID has been named one of the World’s Most Ethical Companies for three consecutive years by the Ethisphere Institute.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, the company posted revenues of €39 billion and a net profit of over €3.9 billion in 2021. Across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
Craig Gilvarg
(857) 998-1130 or This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "North America Solar Power Equipment Market Size, Share & Industry Trends Analysis Report By Equipment, By Application, By Country and Growth Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The North America Solar Power Equipment Market is expected to witness market growth of 10.4% CAGR during the forecast period (2021-2027).
The solar power industry's technology is continuously improving, and this trend is expected to continue in the future. Quantum physics and nanotechnology advancements have the potential to improve the efficiency of solar panels. The solar panel market has enormous development potential, and solar energy is predicted to become the most dominant energy source in the future. Solar energy system installations in commercial as well as residential end-use applications are on the rise, creating lucrative growth prospects in the market. Another important factor is the emphasis on CO2 emission reduction. Solar energy can boost green energy output while preserving natural gas and coal sources that are rapidly decreasing. As a result, governments all over the world are promoting renewable energy sources and encouraging the widespread deployment of solar systems, propelling the solar panel market growth.
Solar power can also be used during a drought or a heat wave. Natural gas, coal, and nuclear power use a lot of water to cool themselves. Power generation is at risk during heat waves and severe droughts, as witnessed in recent years. Solar power systems, on the other hand, do not need water to produce electricity. Solar power also produces jobs in the renewable energy sector.
In the United States, solar electricity is more economical, accessible, and widespread than it has ever been. As per the Office of Energy Efficiency & Renewable Energy, Solar power capacity in the United States has increased from 0.34 GW in 2008 to an anticipated 97.2 GW now. This is enough amount of energy to power 18 million American homes. Solar energy, in the type of solar photovoltaics and concentrating solar-thermal power, provides over 3% of all electricity in the United States. Usually, the cost of solar photovoltaic panels has decreased by about 70% since 2014. Solar energy markets are quickly growing across the country, as solar electricity is already cost-competitive with traditional energy sources in several states. Hopefully, despite government funding cuts to the EPA and DOE, this trend will continue as innovative and forward-thinking businesses embrace the changing landscape of energy generation and transition to renewables.
The US market dominated the North American Solar Power Equipment Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $33,167.7 Million by 2027. The Canadian market is poised to grow at a CAGR of 12.9% during (2021 - 2027). Additionally, the Mexican market is expected to exhibit a CAGR of 11.9% during (2021 - 2027).
Market Segments Covered:
By Equipment
By Application
By Country
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
Chapter 3. Competition Analysis - Global
3.1 Publisher Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Feb - 2022, Feb) Leading Players
Chapter 4. North America Solar Power Equipment Market by Equipment
4.1 North America Solar Panels Market by Country
4.2 North America Mounting, Racking, & Tracking System Market by Country
4.3 North America Storage System Market by Country
4.4 North America Others Market by Country
Chapter 5. North America Solar Power Equipment Market by Application
5.1 North America Utility Market by Country
5.2 North America Residential Market by Country
5.3 North America Non-Residential Market by Country
Chapter 6. North America Solar Power Equipment Market by Country
6.1 US Solar Power Equipment Market
6.2 Canada Solar Power Equipment Market
6.3 Mexico Solar Power Equipment Market
6.4 Rest of North America Solar Power Equipment Market
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/opq6aw
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Investment Will Accelerate FiberLight’s Network Infrastructure Growth in Large and Fast-Growing U.S. Markets
Represents Morrison & Co’s First North American Digital Infrastructure Investment
ATLANTA & NEW YORK--(BUSINESS WIRE)--A consortium led by funds managed by H.R.L. Morrison & Co (“Morrison & Co”), a premier global infrastructure investment firm focused on the digital and renewables sectors, and including Australian Retirement Trust (“ART”) and a managed client of UBS Asset Management, today announced that it has signed a definitive agreement to acquire FiberLight, LLC (“FiberLight”), a leading fiber infrastructure provider with more than 20 years of experience building and operating mission-critical, high-bandwidth networks, from Thermo Companies. The investment will accelerate FiberLight’s network expansion, positioning it to take advantage of the rapidly growing fiber infrastructure market. Terms of the transaction were not disclosed.
Headquartered in Atlanta, Georgia, FiberLight is a pure-play, top-ten, high bandwidth fiber infrastructure provider in the U.S. The FiberLight network comprises approximately 18,000 route miles of fiber infrastructure, servicing customers in over 30 metropolitan areas, principally in the major markets of Texas and the Northern Virginia area, the largest data center market in the world. The company builds, owns and operates state-of-the-art, high-capacity networks and has a proven track record of execution for domestic and international wireless, wireline, cable, and hyperscale cloud providers as well as leading enterprise, government, and educational clients. FiberLight’s seasoned management team, led by Chief Executive Officer Christopher Rabii, will continue to lead the business through its next phase of growth and development.
Mr. Rabii said, “With our existing backbone infrastructure and unmatched density across the markets we serve, FiberLight is well equipped to deploy a multitude of solutions to ensure our customers can meet their growing bandwidth needs. Morrison & Co is our ideal new partner to support our growth strategy due to its commitment of capital and resources and shared belief that fiber infrastructure is the key to bridging the digital divide and rapid expansion required to meet the extraordinary long-term demand.”
Building on its 30+ year track record of infrastructure investing, Morrison & Co’s investment in FiberLight marks its first investment in the North American digital infrastructure market and third in the North American market, following investments in Longroad Energy and Clearvision Ventures, as the firm expands its boots on the ground presence in the region. Morrison & Co opened its New York office in 2021 and has since expanded the team to 10 investment professionals, including Morrison & Co’s Chief Investment Officer William Smales. Morrison & Co has significant digital infrastructure expertise and its portfolio of integrated digital assets includes Vodafone NZ, Amplitel Towers, CDC Data Centres, Kao Data Centres, Fore Freedom and Australian Registry Investments.
Perry Offutt, Head of North America for Morrison & Co, commented, “We are pleased to support FiberLight, a well-recognized provider of essential connectivity services to hundreds of businesses. As the company continues to scale and deepen its presence in key U.S. markets, we will leverage our significant digital infrastructure expertise and partner with management to address the rapidly growing demand for faster, more secure and more reliable internet access.”
Michael Weaver, Australian Retirement Trust’s Head of Private Real and Mid-Risk Assets, added, “We recognize the critical role of high-speed connections in today's society, and we look forward to working with the team to help build communication infrastructure for the future.”
Mr. Smales concluded, “This investment closely aligns with Morrison & Co’s strategy of backing strong purpose-driven companies with highly defensive characteristics and dependable long-term cashflows, supported by rising consumer and enterprise demand for high-speed broadband connectivity. As we actively expand our U.S. business, FiberLight presents an attractive investment opportunity for our investors due to its innovative business model and strong growth potential.”
The acquisition is expected to close following the fulfillment of customary closing conditions including regulatory approvals.
Bank Street served as exclusive financial advisor and Taft served as legal counsel to FiberLight. TD Securities served as exclusive financial advisor and Torys LLC served as legal counsel to Morrison & Co.
About FiberLight
FiberLight designs, builds, and deploys mission-critical high bandwidth networks to ignite our client’s digital transformation. With approximately 18,000 route miles of fiber networks and 78,000 pre-qualified near-net buildings, FiberLight operates in over 30 metropolitan areas in the U.S. Our service portfolio includes high-capacity Ethernet and Wave Transport Services, Cloud Connect, Dedicated Internet Access, Dark Fiber and Wireless Backhaul serving domestic and international telecom companies, wireless, wireline, cable and cloud providers as well as key players across enterprise, government, and education. For more information, visit fiberlight.com or follow us on Twitter @FiberLight_LLC.
About Morrison & Co
H.R.L. Morrison & Co (US), LLC is a registered investment advisor with the Securities Exchange Commission and is part of the Morrison & Co group. Morrison & Co is a global infrastructure investment management specialist, founded in 1988. Morrison & Co manages multiple client mandates, with total funds under management of over US$17 billion at 31 March 2022. Morrison & Co is a pioneer in innovative infrastructure investing, supporting businesses that help enhance the lives of local communities. It invests on behalf of sovereign wealth funds, pension funds, family offices, endowments and other public and private pools of capital. For more information, visit https://hrlmorrison.com/ & LinkedIn.
About Australian Retirement Trust
Australian Retirement Trust (ART) is the superannuation fund formed through the merger of Sunsuper and QSuper. One of Australia’s largest, it is proud to take care of over $200 billion in retirement savings for more than two million members. As a fund that works for members, not shareholders, ART works in members’ best interests, and is committed to returning profits to them as lower fees and better services.
MEDIA:
Morrison & Co
Nathaniel Garnick/Amanda Shpiner
Gasthalter & Co.
212-257-4170
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Claudia Pritchitt
PritchittBland Communications
+61 (0) 438 221 550
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FiberLight
Jason Ouellette
Escalate PR
617-240-1516
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HANOVER, Md.--(BUSINESS WIRE)--Ernst & Young LLP (EY US) today announced that Robert M. Lee, CEO and Co-Founder of Dragos Inc., the global leader in cybersecurity for industrial controls systems (ICS)/operational technology (OT) environments, was named an Entrepreneur of the Year® 2022 Mid-Atlantic winner. Entrepreneur of the Year is one of the preeminent competitive business awards for entrepreneurs and leaders of high-growth companies who think big to succeed. An independent panel of judges selected Lee based on his entrepreneurial spirit, purpose, growth, and impact, among other core contributions and attributes.
“This award really goes out to the entire industrial cybersecurity community and is a reflection of the hard work and progress made to protect critical infrastructure around the world from cyberattacks,” said Robert M. Lee, CEO and Co-Founder, Dragos. “The path to securing the industrial operations that people rely on requires us to educate and empower each other to all be successful.”
Winners were evaluated based on their demonstration of long-term value through entrepreneurial spirit, purpose, growth and impact, among other core contributions and attributes. Since its launch, the program has expanded to recognize business leaders in more than 145 cities in over 60 countries throughout the world who are building a more equitable, sustainable and prosperous world for all.
Lee is a recognized pioneer in the industrial cybersecurity community. He serves on the Department of Energy’s Electricity Advisory Committee, and is Vice Chair of DOE’s Grid Resilience for National Security Subcommittee. He is also a member of the World Economic Forum’s subcommittees on Cyber Resilience for the Oil & Gas and Electricity communities, and serves on the board of the National Cryptologic Foundation.
A business leader and technical practitioner, Lee helped lead the investigation into the 2015 attack on Ukraine’s power grid, and has been involved in the most significant cyberattacks on industrial infrastructure around the globe, including the investigation and analysis of the 2016 attack on Ukraine’s electric system, the 2017 TRISIS attack on a Saudi Arabian petrochemical facility, and the 2021 Colonial Pipeline ransomware attack. Lee’s work has been featured in the book Sandworm, on 60 Minutes, and most recently, he was invited to present at the World Economic Forum Annual Meeting in Davos.
Entrepreneur of the Year Award winners become lifetime members of an esteemed community of multi-industry award winners, granting them unlimited access to the experience, insight and wisdom of fellow alumni across over 60 countries, in addition to extensive support from EY resources and other members of the entrepreneurial community.
Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.
About Dragos, Inc.
Dragos has a global mission: to safeguard civilization from those trying to disrupt the industrial infrastructure we depend on every day. The practitioners who founded Dragos were drawn to this mission through decades of government and private sector experience.
Dragos codifies the knowledge of our cybersecurity experts into an integrated software platform that provides customers critical visibility into ICS and OT networks so that threats are identified and can be addressed before they become significant events. Our solutions protect organizations across a range of industries, including power and water utilities, energy, and manufacturing, and are optimized for emerging applications like the Industrial Internet of Things (IIOT).
Contacts
Kesselring Communications for Dragos
Leslie Kesselring, 503-358-1012
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The Community-Led CSforALL Accelerator Program Aims to Increase Computer Science Learning Opportunities for Denver Students
DENVER--(BUSINESS WIRE)--Crusoe Energy Systems Inc. (Crusoe) today announced their sponsorship of the Denver cohort of the CSforALL Accelerator Program, a new initiative from computer science (CS) advocacy organization CSforALL. The Accelerator is a two-year, cohort-model program focused on accelerating the progress of local communities towards fundamental standards-aligned computer science education for all learners, and increasing access to interest-driven computer science learning opportunities.
The Denver cohort’s local partners will include the Boys & Girls Clubs of Metro Denver, the Colorado School of Mines and Denver Public Schools. They will design a program that will result in increased awareness of CS education in the community; increased capacity for community institutions to create a healthy ecosystem of opportunities; and increased opportunities and participation by learners in CS education activities for school-aged children. Accelerator funding will be used to support the community driven goals based on the specific needs of the Denver community.
“Crusoe is passionate about enabling the future of computing-led innovations and empowering our local communities, which starts with our education system,” said Chase Lochmiller, CEO and Co-Founder, Crusoe Energy. “As a Denver-based company, we’re thrilled to help bring the CSforALL Accelerator Program to the Denver Public School system to advance sustainable and equitable implementation of CS education.”
“CSforALL is energized by the launch of the Accelerator Program and the first locally-driven cohort that will drive sustainable CS education for our nation’s youth,” said Bernell Murray, Project Director, Accelerator Program, CSforALL. “As part of our inaugural cohort, with the support of Crusoe Energy and Friends and Affiliates, we will increase CS education opportunities for nearly 100,000 Denver K-12 students over the next two years.”
Denver is one of six communities chosen for the first cohort of the CSforALL Accelerator Program, along with: Miami, FL; Nashville, TN; Washington D.C.; Duluth, MN; and Detroit, MI. Together, these cities have the potential to reach over half-a-million youth who currently lack access to equitable CS education.
Crusoe Energy Systems’s donation to CSforALL was made with Bitcoin that was mined by the company’s methane reducing Digital Flare Mitigation systems. The donation was made through The Giving Block, a platform that enables charities to seamlessly accept cryptocurrency based donations. The Denver cohort is also supported by individual friends and affiliates of Crusoe Energy Systems.
Crusoe believes that technological advancement and computing-led innovation have enormous potential to uplift quality of life and advance human prosperity. Crusoe’s business provides the necessary computing infrastructure to enable this future without environmental costs. By investing in CSforAll, it gives today’s students the tools to deliver on the next era of computing led breakthroughs.
Added Lochmiller, “We view CSforAll’s Accelerator Program as an opportunity to empower students in our local community to become the next generation of great innovators, scientists and entrepreneurs.”
More Information:
Please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.crusoeenergy.com to learn more, and follow Crusoe on Linkedin and Twitter.
About Crusoe Energy Systems Inc.:
Crusoe is on a mission to align the future of computing with the future of the climate. We are the pioneers of clean computing infrastructure that reduces both the costs and the environmental impact of the world’s expanding digital economy. By unlocking stranded sources of energy to power crypto, cloud and data centers, we are creating a future for compute-intensive innovation that reduces emissions rather than adds to them. The world’s appetite for computation, energy, and progress will never stop growing. Crusoe is here to bring energy to ideas in ways that are aligned with the needs of our climate.
About CSforALL:
CSforALL is the national hub of the computer science for all movement with a mission to make high-quality computer science an integral part of K-12 education in the United States. We engage with diverse stakeholders leading computer science initiatives across the nation to support and facilitate the implementation of rigorous, inclusive, and sustainable computer science.
Please reach out to Holly Gordon: This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.crusoeenergy.com to learn more, and follow Crusoe on Linkedin and Twitter.
Holly Gordon
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ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has acquired KNOT Shuttle Tankers 35 AS, the company that owns the shuttle tanker, Synnøve Knutsen, from Knutsen NYK Offshore Tankers AS (“KNOT” “Sponsor”) (the “Acquisition”). The purchase price of the Acquisition, which has been financed on a non-dilutive basis using borrowings under a new and separate sale and leaseback agreement with respect to the Torill Knutsen, is $119 million, less $87.7 million of outstanding indebtedness.
The Synnøve Knutsen, a 153,000-deadweight ton DP2 Suezmax class shuttle tanker, was built by Hyundai Heavy Industries and delivered in October 2020. The vessel is operating in Brazil under a five-year time charter with Equinor Shipping Inc., providing fixed-rate firm employment through to at least the first quarter of 2027. The charterer has options to further extend the charter for up to 15 additional years. The Synnøve Knutsen is the Partnership’s eighteenth vessel.
The Acquisition was approved by the Partnership’s Board of Directors and independent Conflicts Committee, who were supported by an outside independent financial advisor and outside legal counsel.
New Torill Knutsen Sale and Leaseback
On June 30, 2022, the Partnership through its wholly-owned subsidiary, Knutsen Shuttle Tankers 15 AS, which owned the Torill Knutsen, closed a sale and leaseback agreement with a Japanese-based lessor for a lease period of ten years. The gross sales price was $112 million and a portion of the proceeds was used to repay the outstanding loan and cancelation of the interest rate swap agreements related to the vessel. The bareboat rate under the lease consists of a fixed element per day and there is a fixed-price purchase obligation at maturity. After repayment of the loan and related interest rate swaps, the Partnership realized net proceeds of approximately $40 million after fees and expenses, then used approximately $31 million of those net proceeds towards the Acquisition.
Outlook
Gary Chapman, CEO of the Partnership, commented, “By successfully executing this dropdown with an attractively priced sale-leaseback, we are pleased to strengthen our distribution coverage and lengthen our average remaining charter duration, while also meaningfully reducing our medium-term refinancing needs and adding the surplus proceeds raised to our pool of liquidity. This dropdown demonstrates not only our ability to deliver accretive fleet growth, but also our commitment to acting in the best interests of our unitholders keeping the priority of our distribution in mind.”
“While the current shuttle tanker charter market continues to reflect the effects of temporary capex pauses instituted by the oil majors at the onset of the COVID-19 pandemic, we are increasingly seeing a catch-up in offshore development activity in the form of both FPSO orders and deliveries and a marked increase in inbound shuttle tanker chartering inquiries for the quarters and years ahead in our main market of Brazil. Additional discoveries in shuttle tanker-reliant deep-water regions, substantial committed development capex from our customers and a rapidly dwindling shuttle tanker orderbook give us confidence that the medium and long-term prospects for our business are very promising.”
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.
Forward-Looking Statements
This press release contains certain forward-looking statements concerning future events and the Partnership’s operations, performance and financial condition, including the expected impact and benefits of the Acquisition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “believe”, “anticipate”, “expect”, “estimate”, “project”, “will be”, “will continue”, “will likely result”, “plan”, “intend” or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the Partnership’s control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to:
All forward-looking statements included in this release are made only as of the date of this release. New factors emerge from time to time, and it is not possible for the Partnership to predict all of these factors. Further, the Partnership cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. The Partnership does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Partnership’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.
KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
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+44-1224-618-420
Helping our Customers and Communities Stay Safe this Independence Day
OAKLAND, Calif.--(BUSINESS WIRE)--It’s critical to put safety first this Fourth of July with the triple digit heat combined with extremely dry conditions from an extended drought and climate change.
Celebrations that involve fireworks, barbeques and swimming can increase the risk of fires, electric hazards, heat-related illnesses, and other perils. Echoing recommendations from first responders, PG&E asks customers to follow local rules and regulations regarding fireworks.
Here are additional ways to stay safe this summer:
Electric Safety
Summer Safety
Heat Safety
PG&E encourages customers to confirm their phone number, email, language preference, and mailing address are current in their online account by visiting pge.com/mywildfirealerts.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
First pipeline system to implement PCG aggregation pooling service
HOUSTON--(BUSINESS WIRE)--Tennessee Gas Pipeline Company, L.L.C. (TGP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI) today received approval for its producer certified gas (PCG), or responsibly sourced gas (RSG), aggregation pooling service from the Federal Energy Regulatory Commission (FERC). The PCG aggregation pooling service is now available at all pooling points across the TGP system. PCG is conventional natural gas sourced from production facilities that have been certified by a qualified third party to meet certain environmental, social and governance standards that typically focus on management practices for methane emissions, water usage and community relations. The service is designed to enable shippers on TGP to purchase and sell PCG supply at non-physical pooling locations, ultimately serving end-users, utilities, power plants and LNG facilities connected to the TGP system.
“After working closely with producers and customers, we are pleased to offer a PCG aggregation pooling service that meets their needs as they exist today,” said TGP’s Vice President of Commercial Ernesto Ochoa. “We believe this positions TGP as a leader in the energy transition because this service facilitates greater transparency and liquidity into markets for this important, lower-emissions energy source.”
Parties who have obtained certifications from qualified third-party organizations are supplying the PCG needed for the pooling service, and the supply is expected to grow as PCG becomes the fuel of choice among customers. TGP plans to continue working with producers and customers to refine this service as regulations and markets evolve.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines, 141 terminals, and 700 billion cubic feet of working natural gas storage capacity. Our pipelines transport natural gas, refined petroleum products, renewable fuels, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, renewable fuel feedstock, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning demand for PCG and the anticipated timing and benefits of the proposed PCG pooling program. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2021 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com.
KINDER MORGAN CONTACTS
Katherine Hill
Senior Corporate Communications Specialist
(713) 469-9176
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Investor Relations
(800) 348-7320
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www.kindermorgan.com
HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential energy service provider, announced today it will release its second quarter 2022 results after the markets close on July 27, 2022, to be followed by a conference call to discuss the results at 8:00 a.m. Eastern Time on July 28, 2022.
The conference call can be accessed live over the phone by dialing 844-200-6205, or for international callers, 929-526-1599. The access code for the live call is 818563.
Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of Sunnova’s website at https://investors.sunnova.com.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential energy service provider with customers across the U.S. and its territories. Sunnova’s goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.
For more information, visit www.sunnova.com, follow us on Twitter @Sunnova_Solar and connect with us on Facebook.
Investor & Analyst Contact
Rodney McMahan
Vice President, Investor Relations
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(281) 971-3323
Press & Media Contact
Alina Eprimian
Director, Communications
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DUBLIN--(BUSINESS WIRE)--The "On-Site Photovoltaic Solar Power for Data Centers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The on-site photovoltaic solar power for data centers market is expected to grow at a CAGR of more than 15% during the forecast period.
The primary drivers for the market include the growing sustainable business practices of having an independent and renewable power source for data centers rather than depending upon fossil fuel-powered national power grid that impacts the environment by releasing toxic carbon particles. However, the lack of space on small data centers to install solar panels is expected to hinder the market growth during the forecast period.
Companies Mentioned
Key Market Trends
Decrease in Solar Power Installation Cost is Likely to Drive the Market
North America to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in MW, till 2025
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 Geography
5.1.1 North America
5.1.2 Europe
5.1.3 Asia-Pacific
5.1.4 South America
5.1.5 Middle-East and 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/4bzm64
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Delivering Expanded Customer Service and Community Impact
HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority met Tuesday in its regular monthly meeting and received news of continued record-breaking activity across the public terminals. In his staff report, Executive Director Roger Guenther said business remains strong for the container and general cargo terminals, with 21.6 million tons handled through May.
Container activity continues at record levels for the year and is 20% higher through May. “In fact, the 335,866 TEU (twenty-foot equivalent unit) total represents the best month in Port Houston history,” Guenther said. “There are really no signs of imports backing off, and exports – especially resins – are beginning to rebound” as well, Guenther added. Port Houston also experienced another record day of transactions through its truck gates last week.
General cargo volumes through the multi-purpose facilities are also up 116% for the year, with nearly 3.3 million tons recorded.
During the meeting, Guenther highlighted the Saturday availability of truck gates at the container terminals. Port Houston added the additional day earlier in June to provide more opportunity for handling the tremendous amount of freight moving through Houston. “It is critical our industry take advantage of the extended hours we are providing for our customers,” he stressed.
“Expanding these hours must be a way of the future,” Guenther emphasized. “We are making this commitment to continued efficiency, and we strongly encourage our truckers and shippers to take advantage of this opportunity.”
Separately, Chairman Ric Campo expressed his appreciation to the men and women working at the terminals and keeping goods and commerce moving, and reminded them to stay safe and hydrated through the hot summer months.
Actions taken on Tuesday included the award of Port Houston’s Community Grants Program funding to 15 community groups. This program is an outreach initiative, focused on investing resources into projects and programs that enhance the community and are consistent with the mission and vision of Port Houston’s 2020 Strategic Plan. More details and a list of the award recipients can be accessed at this link: https://porthouston.com/community-outreach/grantsprogram/
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at PortHouston.com.
Lisa Ashley-Daniels, Director, Media Relations,
Office: 713-670-2644; Mobile: 832-247-8179;
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
MILWAUKEE--(BUSINESS WIRE)--Zurn Water Solutions Corporation (NYSE: ZWS) announced today that it completed the previously announced combination with Elkay Manufacturing Company, a market leader of commercial drinking water solutions.
“The addition of Elkay is part of our ongoing strategy as a pure play water business to create significant value for our stakeholders,” said Todd A. Adams, Chairman and CEO of Zurn Elkay Water Solutions. “This combination brings together two iconic brands that serve the same end markets with complementary products, shared values and cultures – ultimately creating an unrivaled portfolio of water solutions in North America. Planning teams have worked to prepare for a smooth integration, and we remain confident in our ability to deliver on $50 million of synergy opportunities. Together we can provide customers the capability to advance their sustainability initiatives while reducing their initial and operating costs and providing a hygienic environment for the end-user.”
Transaction Structure
Under the terms of the transaction agreements, subject to certain holdbacks and post-closing adjustments, the merger consideration to Elkay shareholders consisted of approximately 51.6 million shares of Zurn common stock, which results in former Elkay shareholders owning approximately 29% of the combined company.
Following the closing of the transaction, Zurn changed its legal name from Zurn Water Solutions Corporation to Zurn Elkay Water Solutions Corporation. Zurn Elkay common stock will continue to trade on the New York Stock Exchange under the ticker symbol “ZWS.”
Zurn Elkay Water Solutions will continue to be led by the existing Zurn Water Solutions Board of Directors with the addition of two new directors who currently serve on the Elkay Board of Directors. The combined company is headquartered in Milwaukee, Wisconsin, and Todd Adams remains Chairman and Chief Executive Officer.
Website
In conjunction with the new company name, Zurn Elkay Water Solutions launched a new company website www.Zurn-Elkay.com.
About Zurn Elkay Water Solutions
Headquartered in Milwaukee, Wisconsin, Zurn Elkay Water Solutions is a growth-oriented, pure-play water business that designs, procures, manufactures, and markets what we believe is the broadest sustainable product portfolio of solutions to improve health, human safety, and the environment. The Zurn Elkay product portfolio includes professional grade water control and safety, water distribution and drainage, drinking water, finish plumbing, hygienic, environmental and site works products for public and private spaces. Visits www.zurn-elkay.com for additional information about the Company.
Forward-Looking Statements
Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Zurn Elkay Water Solutions Corporation as of the date of the release, and Zurn Elkay Water Solutions Corporation assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in the Company’s Form 10-K for the period ended December 31, 2021 as well as the Company’s annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the SEC for a further discussion of the factors and risks associated with the business.
Investor Relations:
Dave Pauli, Vice President – Investor Relations
414-223-7770
Media Relations Zurn:
Angela Hersil, Director – Corporate Communications
855-480-5050
414-808-0199
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Total commitments increased to $1.1 billion and are expected to be sufficient to fund Archaea’s development capital expenditures and acquisition of INGENCO
HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea,” “the Company,” or “we”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that it1 has successfully closed the previously announced amendment to its Revolving Credit and Term Loan Agreement. Aggregate commitments now total $1.1 billion, an increase of approximately $630 million from the original facilities, including a $400 million senior secured term loan credit facility and a $700 million senior secured revolving credit facility (together, the “Amended Facilities”). The interest rate for the Amended Facilities remains unchanged at the secured overnight financing rate (“SOFR”) plus 275 basis points for the revolving credit facility and SOFR plus 325 basis points for the term loan credit facility. The maturity date of the Amended Facilities remains unchanged at September 15, 2026.
Available capacity under the Amended Facilities is expected to be used to fund (a) the Company’s previously announced acquisition of NextGen Power Holdings LLC (together with its subsidiaries, “INGENCO”), which is expected to close on or after July 1, 2022, and other Permitted Acquisitions as defined thereunder, (b) capital expenditures related to the Company’s previously announced Lightning Renewables joint venture with Republic Services Inc., and other Permitted Investments as defined thereunder, (c) other capital expenditures within the Company’s development plan, (d) expenses related to the Amended Facilities, and (e) to provide working capital and for other general corporate purposes.
The Amended Facilities, along with the Company’s other existing sources of liquidity, are expected to be sufficient to fund the Company’s acquisition of INGECO and development capital needs, including capital expenditures related to projects within the Company’s Lightning Renewables joint venture with Republic Services, Inc., projects related to INGENCO, and core development projects, for the foreseeable future, thereby eliminating the need for additional external capital in the near-term based on the Company’s current development plans and backlog.
“The successful amendment and upsize of our bank facilities is a momentous achievement for Archaea, one that puts us in a strong position to successfully execute on the robust project backlog we have worked diligently to develop over the past year,” said Nick Stork, Archaea's Co-Founder and Chief Executive Officer. “The strong support from our lender group, as evidenced by the over $600 million incremental commitments under the Amended Facilities, demonstrates confidence in our differentiated business model and ability to execute on our project backlog at industry-leading speed and cost due to our technology-driven approach and gas processing expertise. The Archaea team today is more unified than ever in our commitment, passion, and excitement for achieving our development goals, and we look forward to seeing the meaningful decarbonization impact our RNG facilities will bring to our stakeholders including partners, customers and local communities.”
1. Through Archaea Energy Operating LLC, a subsidiary of the Company.
ABOUT ARCHAEA
Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry-leading platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, faster project timelines, and lower development costs. Archaea partners with landfill and farm owners to help them transform potential sources of emissions into RNG, transforming their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels.
Additional information is available at www.archaeaenergy.com.
FORWARD-LOOKING STATEMENTS
This release contains certain statements that may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that do not relate strictly to historical or current facts are forward-looking and usually identified by the use of words such as “anticipate,” “estimate,” “could,” “would,” “should,” “will,” “may,” “forecast,” “approximate,” “expect,” “project,” “intend,” “plan,” “believe” and other similar words. Forward-looking statements may relate to expectations for future financial performance, business strategies or expectations for Archaea’s business. Specifically, forward-looking statements may include statements concerning the expected closing of the Amended Facilities, the expected use of proceeds therefrom and the expected size thereof. Forward looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of Archaea, and such statements involve known and unknown risks, uncertainties and other factors.
The risks and uncertainties that could cause those actual results to differ materially from those expressed or implied by these forward looking statements include, but are not limited to, the ability to meet the conditions to closing the Amended Facilities; general economic conditions and the possibility that Archaea may be adversely affected by general economic, business and/or competitive factors; and other risks and uncertainties indicated in Archaea’s Annual Report on Form 10-K for the year ended December 31, 2021 and Archaea’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, including those under “Risk Factors” therein, and other documents filed or to be filed by Archaea with the Securities and Exchange Commission.
Accordingly, forward-looking statements should not be relied upon as representing Archaea’s views as of any subsequent date. Archaea does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
ARCHAEA
Megan Light
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346-439-7589
Blake Schreiber
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346-440-1627
HOUSTON--(BUSINESS WIRE)--WM (NYSE: WM) announced that it will release second quarter 2022 financial results before the opening of the market on Wednesday, July 27, 2022. Following the release, WM will host its investor conference call at 10 a.m. ET.
Listeners can access a live audio webcast of the conference call by visiting investors.wm.com and selecting “Events & Presentations” from the website menu. A replay of the audio webcast will be available at the same location following the conclusion of the call.
Beginning this quarter, conference call participants should register to obtain their dial in and passcode details. The new, streamlined process improves security and eliminates wait times when joining the call.
The Company participates in investor presentations and conferences throughout the year. Interested parties can find a schedule of these conferences at investors.wm.com by selecting "Events & Presentations."
ABOUT WM
WM (WM.com) is North America's largest comprehensive waste management environmental solutions provider. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants and the most gas-to-electricity plants in North America. WM's fleet includes nearly 11,000 natural gas trucks – the largest heavy-duty natural gas truck fleet of its kind in North America – where more than half are fueled by renewable natural gas. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.
Waste Management
Website:
www.wm.com
Analysts:
Ed Egl
713.265.1656
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Media
Toni Werner
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MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro”) (NYSE: PUMP) today announced that it will issue its second quarter of 2022 earnings release on Tuesday, August 2, 2022 after the close of trading. ProPetro will host a conference call on Wednesday, August 3, 2022 at 8:00 AM Central Time to discuss its second quarter results.
To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s website, www.propetroservices.com.
A replay of the conference call will be available for one week following the call and may be accessed toll free by dialing 1-877-344-7529 for U.S. callers, 1-855-669-9658 for Canadian callers, as well as 1-412-317-0088 for international callers. The access code for the replay is 1560734.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
Josh Jones
Director of Finance
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432-276-3389
Matt Augustine
Investor Relations
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432-848-0871
DUBLIN--(BUSINESS WIRE)--The "Middle-East Oil and Gas Line Pipe Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Middle East oil and gas line pipe market is expected to register a CAGR of more than 4% during the forecast period, 2022 - 2027.
The COVID-19 outbreak in Q1 of 2020 had delayed pipeline projects due to imposed lockdown restrictions. Also, it led to a decrease in gas demand due to the decline in electricity consumption, and travel restrictions also negatively affected oil consumption.
Key Market Trends
Seamless Type Segment to Witness a Significant Growth
Saudi Arabia to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, 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 Type
5.1.1 Seamless
5.1.2 Welded
5.2 Geography
5.2.1 United Arab Emirates
5.2.2 Saudi Arabia
5.2.3 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Arabian Pipes Company
6.3.2 Rezayat Group
6.3.3 EEW Group
6.3.4 Sumitomo Corporation
6.3.5 Vallourec SA
6.3.6 Abu Dhabi Metal Pipes & Profiles Industries Complex LLC
6.3.7 Jindal SAW Ltd
6.3.8 ArcelorMittal
7 MARKET OPPORTUNITIES and FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/91yl0f
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
BILBAO, Spain--(BUSINESS WIRE)--H2SITE, a deep-tech pioneer in on-site hydrogen (H2) production, announced today that it has raised 12,5 M€ in a Series A funding round led by Breakthrough Energy Ventures (BEV), with participation from Equinor Ventures, ENGIE New Ventures, TECNALIA and institutional investors from the Basque Country (Capital Riesgo País Vasco (EZTEN FCR) and Seed Capital Bizkaia (SCB)).
The funding will accelerate the scale up of H2SITE's integrated membrane reactor and membrane separation technologies to obtain fuel cell purity hydrogen from ammonia or methanol cracking, or enable hydrogen transportation in existing natural gas infrastructure. H2SITE will also increase its membrane manufacturing capabilities, operating a world unique membrane manufacturing plant in the North of Spain.
“While much focus is given to hydrogen generation cost reduction, less attention is given to reduction of hydrogen transport cost. Transporting hydrogen is a complex task, it being a small molecule that is difficult to contain. The current compression, storage, decompression, and transport solutions are both economically and environmentally inefficient”, says Andrés Galnares, H2SITE’s CEO.
TECNALIA, Spain’s largest private research center, and the Technical University of Eindhoven realized that 13 years ago and developed the advanced membrane reactors. They combine special membranes with one-process-step reactors to produce onsite, low-cost renewable hydrogen. ENGIE’s R&D entity CRIGEN contributed to the development of the commercial version of the reactor. Intellectual Property was transferred into the newly created H2SITE to commercialize the technology.
H2SITE has since developed these onsite hydrogen generation units. Double skin inorganic membranes with long lifespan, integrated into process units can both crack hydrogen carriers and separate the hydrogen from blends in natural gas infrastructure or purify it in dedicated hydrogen infrastructure.
“Hydrogen is a promising pathway to decarbonize many parts of the economy but transporting it remains one of the biggest challenges. H2SITE has developed a solution that solves the transportation issue and will change the game for how quickly hydrogen can be deployed in already established pipelines which in turn could save billions of dollars in infrastructure costs,” said Carmichael Roberts of Breakthrough Energy Ventures.
H2SITE has shown strong commercial traction in 2022 and has recently been awarded projects to transform ammonia into H2 for the bus fleet in Birmingham, England, biogas into H2 for hydrogen refueling stations in Spain and in France, as well as several separation projects from H2 / natural gas blends in the gas transport infrastructure that are under construction.
“As an early investor from the very beginning of H2SITE journey, ENGIE New Ventures showed its commitment to the development of a promising and versatile technology to scale up sustainable and efficient solutions for industry and mobility needs; this support materialized also through ENGIE developing some commercial projects in H2 refueling stations using H2SITE technology,” said Johann Boukhors, Managing Director of ENGIE New Ventures.
According to BNEF’s New Energy Outlook 2021, the “green scenario” will require 1300M tons of H2 to reach net zero. If only 10% will be separated or transported with H2 carriers at an average cost of 0,5USD/kg, the market size in 2050 will be over 50 billion USD/year in 2050. H2SITE makes it possible to have access to these separation costs as of today and will further reduce them in the future.
“Equinor has high ambitions for clean hydrogen and Equinor Ventures invests in technologies that support the development of novel hydrogen value chains,” says Gareth Burns, head of Equinor Ventures. “H2Site has developed innovative technologies enabling the use of existing natural gas infrastructure to bring clean hydrogen to end users. These solutions have a potential for direct application within Equinor’s future hydrogen projects and I look forward to seeing the technology further developed and deployed,” he adds.
“H2SITE is a unique combination of: excellent research, mostly funded by European Commission framework programs resulting in state-of-the-art membrane reactor technology developed by Tecnalia and TUe; a purposeful entrepreneurial “A-Team”; some of the best smart capital in the realm of decarbonization in the World, topped with strong public support from with the participation of the sovereign funds of the Basque region, EZTEN FCR and Biscay region, SCB in the funding round; resulting in a gazelle massively incorporating top talent and anchoring a regional supply chain. This is the type of deep tech venture building endeavor that Tecnalia Ventures fosters, aimed at unfolding the potential Europe has to lead the global decarbonization challenge,” said Asier Rufino, CEO Tecnalia Ventures and H2SITE Chairman.
“This investment by BEV-E is much needed. The hydrogen economy needs to take off and I believe investments such as the current one may indeed be one of the triggers we’re waiting for,” said Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth. “Facilitating hydrogen transport will be important to scale-it-up. This shows that public funds can be married with private funds successfully, as happened with BEV-E. Investments in the energy transition must however take place at an even faster pace if we want to succeed in our climate ambition.”
Breakthrough Energy Ventures Europe (BEV-E) was established by the European Commission, the European Investment Bank and Breakthrough Energy Ventures to invest in innovative European companies and bring radically new clean energy technologies to the market. It was established to support Europe's best clean energy entrepreneurs whose solutions can deliver significant and lasting reductions in greenhouse gas emissions—H2SITE and this investment in the company is an example of that.
European Investment Bank (EIB) Vice-President Ricardo Mourinho Félix said: “To meet the global climate and energy challenges, we must scale up investment for clean energy technologies. Together with our partners at the European Commission, we are supporting Breakthrough Energy Ventures Europe which is investing in European companies such as H2SITE to find innovative solutions that will put the world on track to net-zero emissions. Transporting green hydrogen from geographies with strong renewable energy resources to demand centres is an important part of the EU Hydrogen and decarbonisation strategy. At the EIB, we will continue to work with our partners and project promoters to support the clean energy transition in Europe and around the world.”
H2SITE is currently hiring in the Bilbao region. To learn more, follow H2SITE on LinkedIn.
About H2SITE
H2SITE is a deep-tech start-up that uses advanced membrane reactor technology to solve the hydrogen transport problem by converting hydrogen carriers with well-known supply chains and separating hydrogen gas blends into fuel cell purity hydrogen.
About Breakthrough Energy Ventures
Founded by Bill Gates and backed by many of the world’s top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.
BEV is a part of Breakthrough Energy, a network of investment vehicles, philanthropic programs, policy advocacy and other activities committed to scaling the technologies we need to reach net-zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
About EQUINOR Ventures
Equinor Ventures is Equinor’s corporate capital venture fund dedicated to investing in attractive and ambitious early phase and growth companies. We believe that the innovation, creativity and agility of start-ups can drive change and transition towards a low carbon future.
About ENGIE New Ventures
ENGIE New Ventures (ENV) is the investment fund of ENGIE, Research & Innovation division, dedicated to innovative climate technology startups and the corporate venture capital arm of ENGIE, the global energy and services provider. ENGIE is committed to lead the energy revolution, towards a more decarbonized, decentralized, and digitized world. ENV makes minority investments in innovative start-ups bringing strategic value to the Group with a focus on both the current ecosystem and on future breakthrough technologies. Since 2014, investments have been made in more than 45 solutions in the cleantech sector. Investment thesis is now focused in particular on renewables, energy efficiency solutions and flexibility, green gases including hydrogen. ENV’s offices are represented in Paris, San Francisco, Singapore, Santiago and Tel Aviv.
About TECNALIA
TECNALIA is the largest applied research and technological development center in Spain, a European benchmark and member of the Basque Research and Technology Alliance. We work with companies and institutions to increase their competitiveness, quality of life of people and achieve sustainable growth. Its main areas of action are digital transformation, smart manufacturing, energy transition, sustainable mobility, urban ecosystem, circular economy and personalized health. (www.tecnalia.com)
Through TECNALIA Ventures, its deep tech venture builder, the center collaborates in the identification and deployment of deep tech business opportunities with commercialization potential, through the development of its technological asset’s incubation acceleration program. (www.tecnaliaventures.com)
About EZTEN FCR
EZTEN FCR is a venture capital fund managed by Gestión de Capital Riesgo del País Vasco, a company belonging to the SPRI Group-Basque Agency for Business Development.
EZTEN FCR invests in innovative Basque companies, especially in the areas of biosciences, advanced manufacturing, and clean energy, in order to promote their development.
About Seed Capital Bizkaia
Public Company attached to the Department of Economic Promotion of the Provincial Council of Bizkaia, intended for the administration and management of various financing instruments. Founded in 1989, Seed Capital Bizkaia, during more than 30 years of work, has always made a firm commitment to promoting innovation, social impact and the promotion and regeneration of the business fabric in Bizkaia.
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‘EV Charge Schools’ Pilot Aims to Add Up to 130 Chargers at 22 Schools and Provide EV Curriculum to K-12 Teachers
OAKLAND, Calif.--(BUSINESS WIRE)--Today, Pacific Gas and Electric Company (PG&E) announced it has broken ground on the first of up to 130 new electric vehicle (EV) charging ports at 22 schools in its service area.
The first installation is at Eastside College Preparatory School in East Palo Alto, Calif. Overall, PG&E’s EV Charge Schools pilot program aims to help fill charging gaps at these locations and support California’s clean transportation and decarbonization goals.
Through the EV Charge Schools pilot, PG&E will install level 2 charging stations at school facilities and educational institutions for staff, parents and students to charge their EVs, with access varying by location. PG&E will help fund the costs of purchasing and installing the EV charging equipment and networking fees at these schools as well as ongoing maintenance and operations. With up to 40% of the new chargers located in disadvantaged communities, the pilot will help to bring EV charging options to customers who might not have had them before.
PG&E also will develop EV and sustainability curriculum for all schools in its service area along with teacher training options. The kindergarten through grade 12 curriculum will allow teachers to connect classroom learning to real-world infrastructure and help expand awareness of clean energy transportation.
“By increasing charging access at schools, we strive to make electric vehicles a viable option for more Californians. Expanding the use of clean transportation and reducing vehicle emissions is good for our state, our customers and the environment,” said PG&E’s Aaron August, Vice President, Business Development and Customer Engagement.
Why Clean Transportation Matters
Clean transportation efforts are a central pillar of PG&E’s Climate Strategy Report, which outlines the company’s plans to reach net zero greenhouse gas emissions by 2040, five years ahead of the state’s target, and to start actively removing more greenhouse gases from the environment than it emits by 2050. To help reach these goals, PG&E plans to be the industry’s global model by preparing its grid to fuel at least 3 million EVs by 2030—leading to a cumulative reduction of 58 million metric tons of carbon emissions.
These recent commitments build upon PG&E’s history of leadership in the area of clean transportation. Over 420,000 EVs have been sold in PG&E’s service area, representing one in six EVs in the country. Increasing EV adoption can play a critical role in supporting California’s goals to reduce emissions as transportation is the single largest source of greenhouse-gas emissions in the state, contributing nearly 40%. Passenger vehicles alone account for nearly 29% of the state’s total emissions. By 2035, 100% of California sales of new passenger cars and trucks will have zero tailpipe-emissions.
The electricity fueling EVs in California comes from one of the cleanest energy mixes in the country. PG&E estimates that 93% of its customers’ electricity in 2021 came from greenhouse gas-free resources.
PG&E’s Continued Support for EVs
For more information, visit pge.com/ev.
About PG&E
PG&E, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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Quorum’s Planning Space Integrated with the Schlumberger FDPlan Solution
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), a global software leader dedicated to the energy industry, announced today that it has entered into an agreement with Schlumberger to jointly integrate Quorum’s industry-leading Planning Space, a business planning and petroleum economics offering, with the FDPlan field development planning solution, which is enabled by the DELFI cognitive E&P environment. The integrated solution will be offered directly by Schlumberger with Planning Space as its petroleum economics engine.
As part of the agreement, Quorum will also acquire Merak planning, risk, and reserves software from Schlumberger.
“Quorum and Schlumberger have developed longstanding relationships with our customers and partners over decades of serving the energy industry,” said Gene Austin, Chief Executive Officer at Quorum. “Bringing together our market-leading planning and economics solutions gives customers around the world access to the industry’s most complete technology ecosystem, backed by our team of energy experts.”
“The partnership between Quorum and Schlumberger will enable our customers to seamlessly integrate cross domain data and workflows, to accelerate decision making across planning, operations, and the boardroom,” said Trygve Randen, Director Digital Subsurface Solutions at Schlumberger. “By integrating the DELFI environment and domain workflows with Quorum’s business planning solutions, we are enabling an industry first—a truly integrated experience that connects all functions in the organization.”
With the agreement effective immediately, Quorum and Schlumberger are already actively engaged with several major energy companies to enhance their performance and profitability through improved business planning across their organization.
About Quorum Software
Quorum Software is a leading energy industry software provider worldwide, serving more than 1,800 customers across the entire energy value chain in 55 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.
Media:
Lauren Force
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617 502 4366
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