Adding solutions capabilities from Taiwan-based semiconductor and advanced manufacturing specialist allows cleantech water innovator to address high technology’s needs
BOSTON--(BUSINESS WIRE)--Gradiant, a global solutions provider and developer for cleantech water, today announced it has acquired WaterPark Environment Corp (WaterPark), a design and construction firm based in Taiwan that is focused in water technologies for advanced manufacturing in the high tech industries of semiconductor and microelectronics.
The acquisition strengthens Gradiant’s portfolio of proprietary technologies and applications expertise in industrial water, specifically high-rate biological wastewater, advanced oxidation, and ultrapure water. Gradiant’s full range of technologies and end-to-end solutions will also become accessible to the leading manufacturers of Taiwan’s advanced industries that WaterPark serves. Existing semiconductor and microelectronics clients of the combined business include the world’s most established brands such as Global Foundries, Micron, Intel, TSMC, UMC, AUO, and Chimei.
“This partnership will help semiconductor and other advanced industries achieve the purest water at the highest yield while meeting environmental discharge limits and recovering precious resources that would have otherwise been wasted,” said Prakash Govindan, COO of Gradiant. “For global industries under pressure from the supply chain shortage, climate change, and rising material costs, our technology innovations are essential to meet business needs for operational continuity, sustainability, and cost.”
We are experiencing a prolonged global shortage of semiconductors that are required to control everything from automobiles to smartphones to appliances. As the semiconductor shortage persists, manufacturers face increasingly greater pressure to adopt sustainable and efficient practices in their water operations.
“Taiwan leads the world in regulating industrial water reuse and wastewater discharge,” said Huey-Song You, Chairman of WaterPark. “The island is the world’s center for semiconductor manufacturing and currently holds 65% of the global market share. Driven by strategic interests for risk management in the supply chain and self-sufficiency, semiconductor manufacturing is extending to new regions that are leveraging Taiwan’s best practices in water management in their production. Combining our proprietary technologies and industry expertise with Gradiant’s total water and digital solutions, we will help advanced manufacturing facilities worldwide best manage their water.”
About Gradiant
Gradiant is a global solutions provider and developer of cleantech water projects for advanced water and wastewater treatment. Gradiant’s end-to-end solutions and technology expertise enable sustainable and cost-effective treatment of the world’s most important water challenges. With a full suite of differentiated and proprietary technologies, powered by the top minds in water, Gradiant serves its clients’ mission-critical operations in the world’s essential industries. Gradiant was founded at the Massachusetts Institute of Technology (MIT) to create and deploy sustainable water treatment solutions and is uniquely positioned to address the world’s increasing challenges created by industrialization, population growth, and water stress. Today, with over 450 employees, Gradiant operates from its global headquarters in Boston, regional headquarters and global technology labs in Singapore, and offices across twelve countries. For more information, please visit www.gradiant.com.
About WaterPark
WaterPark Environment Corp. is a water technology design and construction firm serving advanced manufacturing clients in the semiconductor and microelectronics industries. WaterPark’s proprietary technologies solve the range of water challenges of industrial clients throughout Asia Pacific using advanced biological, chemical, and physical processes. WaterPark is a spin-off from ITRI (Industrial Technology Research Institute); since its inception in 1973, ITRI has incubated over 280 innovative companies, including the world’s leading semiconductor foundries, TSMC and UMC. WaterPark is headquartered in Hsinchu, Taiwan. For more information, please visit www.waterpark-env.com.
Corporate:
Felix Wang
Gradiant, VP of Marketing
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE:AGR) will be releasing its second quarter 2022 financial results on Tuesday, July 26, 2022, after the market closes in a news release to be posted to the Investors’ section of the company’s website at www.avangrid.com/wps/portal/avangrid/Investors. The company will issue an advisory news release over Business Wire the evening of July 26th, which will include a link to the financial results news release on the company’s website.
In conjunction with the earnings release, AVANGRID will conduct a webcast conference call with financial analysts on Wednesday, July 27, 2022 beginning at 10:00 A.M. ET. AVANGRID’s Executive team will present an overview of the financial results followed by a question and answer session.
Interested parties, including analysts, investors and the media, may listen to a live audio-only webcast by accessing a link located in the Investors’ section of AVANGRID’s website at www.avangrid.com/wps/portal/avangrid/Investors.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
Analysts: Alvaro Ortega 207-629-7412
SANTA MONICA, Calif.--(BUSINESS WIRE)--Autonomy, the electric vehicle subscription company that offers the cheapest, fastest, and easiest way to get a Tesla Model 3, and soon other models and brands, is now available in the Google Play Store for those looking to subscribe to an EV with an Android phone. Autonomy’s Android app will be available on Android OS 10 and newer. Until now, the service was only available to iOS users.
“There’s a clear product market fit and enthusiasm for our service and the option to subscribe to a Tesla Model 3 by using Autonomy,” said Scott Painter, founder and CEO of Autonomy. “With growing interest and demand from Android users, we expedited our Android app launch, and it is now available on the Google Play Store. This opens the door for more consumers to get behind the wheel of a Tesla with flexibility and freedom from long-term debt.”
How to Subscribe:
“Android users can now experience the magic that is Autonomy,” said Georg Bauer, co-founder and president of Autonomy. “Instead of spending hours at a car dealership, qualified Android users can download an app, and in as little as 10 minutes begin their subscription to a Tesla Model 3. This is the digital experience consumers have been demanding in their car shopping experience.”
A payment dial allows customers to personalize their Model 3. Subscriptions range from as low as $490 per month with an initial $4,900 start fee, to $1,000 per month with an initial $1,000 start fee. A $500 refundable security deposit and taxes are required when the subscription is activated. Subscribers can start to reserve their car via Autonomy’s app with a $100 refundable deposit.
Autonomy’s start fee and monthly payment covers the traditional costs of ownership, including annual registration and licensing fees, routine maintenance, roadside assistance, and standard wear and tear on tires, which are all usually additional expenses with a traditional lease or loan.
Adding to the cost advantage, Autonomy drivers have the flexibility to subscribe month to month after a three-month minimum hold period with 28 days’ notice. The platform is a viable market option for those who do not want or cannot afford the long-term commitment of buying or leasing an electric car.
Autonomy’s subscription model offers a new radical solution to the rising demand for electric cars. An additional advantage is the company’s stock of Model 3s that are available for delivery or pickup within weeks (while supplies last), compared with the six- to nine-month wait for a lease or loan.
ABOUT AUTONOMY
Autonomy is a technology company on a mission to make access to mobility easy and affordable through car subscriptions. The company was founded by auto retail, auto finance, and auto insurance disruptors Scott Painter and Georg Bauer, who founded Fair, the first-ever used-vehicle subscription offering, pioneering the Car-as-a-Service (CaaS) category. Building upon that experience, Autonomy has created a turnkey vehicle subscription platform for consumers and the automotive industry that enables vehicle subscriptions to scale profitably and become a mainstream alternative to traditional car buying. Autonomy is innovating through technology, finance, and insurance to power car subscriptions for the battery, electric vehicle, and zero-emissions vehicle sectors. Autonomy relies on partnerships with automakers and brick-and-mortar car dealerships to provide benefits to both consumers and the industry. Autonomy represents freedom from long-term debt, freedom from long-term commitments, and even freedom from fossil fuels. It means new choices and more control over your financial well-being. Autonomy is based in Santa Monica, California.
Autonomy PR Contacts:
Shadee Malekafzali
Head of Investor Relations and Corporate Communications
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Corporate Communications Manager
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PORTSMOUTH, United Kingdom & BALI, Indonesia--(BUSINESS WIRE)--#ICPC--Hosted by the Indonesian Naval Hydro-Oceanography Center (Pushidrosal), the International Hydrographic Organization (IHO) held its Hydrographic Services and Standards Committee Meeting (HSSC-14) from 16-19 May 2022 in Bali where the chairman of the International Cable Protection Committee (ICPC), (Mr Graham Evans), was presented with a token of appreciation by the Indonesian Chief Hydrographer Vice Admiral Nurhidayat. The personalised plaque was granted to ICPC due to its support and advice related to submarine cable route planning, installation, and maintenance best practices. On behalf of the global organisation that is dedicated to the sharing of information for the common interest of all seabed users, the plaque was graciously accepted by the ICPC.
ICPC advice and support had been provided at the request of Pushidrosal by way of an informative workshop that was led by Mr Evans from EGS Survey Group, and supported by Ms Geraldine Le Meur from SubCom, that was virtually-held on 4 March 2022. The workshop focused on enquiries raised by Pushidrosal and Indonesian Government stakeholders that were related to submarine cable industry best practices for both telecommunications and power cables within the context of both Indonesia’s development of submarine cable infrastructure to support the developing digital economy across the vast Indonesian Archipelago. How best practices aligned with the importance of Indonesian Marine Spatial Planning objectives were also discussed.
About the ICPC. The ICPC is the world’s premier submarine cable protection organisation. It was formed in 1958 to promote the protection of submarine cables against human-made and natural hazards. It provides a forum for the exchange of technical, legal, and environmental information about submarine cables and engages with stakeholders and governments globally to promote submarine cable protection. The ICPC has over 185 Members from over 60 nations, including cable operators, owners, manufacturers, industry service providers, as well as governments. For further information about the ICPC, see www.iscpc.org and www.linkedin.com/company/icpc-ltd/. If interested in joining the ICPC, click on the following link.
Earlier this year, the ICPC published ‘Government Best Practices for Protecting and Promoting Resilience of Submarine Telecommunications Cables' to assist governments in developing laws, policies, and practices to foster the development and protection of submarine telecommunications cables, the infrastructure of the internet. The full document may be found here.
ICPC:
Ryan Wopschall
ICPC General Manager
+1 541 306 549
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Representing Sound Financial Growth and Development Expertise
BLACKWOOD, N.J.--(BUSINESS WIRE)--Vision Solar continues to add new board members that come with tailored, highly- educated skill sets in order to strengthen their board, support their leadership, and contribute expertise to drive forward their success, both operationally and financially.
Elizabeth Addonizio is a seasoned finance professional with decades of experience in providing companies with strategic guidance on growth and development. Drawing on a long background in investment banking, private equity and venture capital investing with a focus on Impact and Environmental, Social, and Governance (ESG) investing, Elizabeth has an extensive background in the raising and deployment of capital to facilitate robust organic and inorganic growth. Addonizio will be responsible for providing strategic input on how Vision Solar can maintain a strong growth trajectory without losing sight of profitability and high customer satisfaction.
In addition to her experience in finance, Addonizio brings with her a wealth of experience in the utilities and renewables space in the United States, Latin America, and East Asia, and she has spent the better part of the past two decades as an officer in the United States Navy Reserve. She has a Ph.D. from Yale University, an M.P.A. from Princeton University, and a B.A. from Bucknell University.
“As the CEO, I am very keen on the idea of creating an advisory board of seasoned professionals who have the academic credentials along with the professional experience that can help guide us through the explosive growth we are experiencing - I am pleased to have Elizabeth Addonizio join our board.” - Jonathan Seibert, CEO of Vision Solar LLC
“Addonizio will be a great add to our Board team as she brings a wealth of experience and knowledge for guiding high growth companies with the right financial discipline.” - Faraz Khan, CFO at Vision Solar
“I am thrilled to join the board of Vision Solar, a dynamic, fast-growing company that has such a positive impact on climate, sustainability, and the pocketbooks of households across the country. I look forward to working with the company's stellar leadership team to continue to advance the company's growth and development goals.” - Elizabeth Addonizio, Board Member for Vision Solar
For any inquiries regarding this press release, please feel free to contact John Czelusniak at This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..
About Vision Solar:
Vision Solar is one of the fastest growing solar energy companies in the United States. Their full-service renewable energy company installs solar services for residential homes nationwide. Over the past three years, Vision Solar has grossed over $200+ million in revenue, with significant increase in projected growth to produce 1000+ high-quality Green Jobs by 2022. To learn more, visit: https://www.visionsolar.com
John Czelusniak
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Global leader details efforts to lower emissions and promote social, governance and environmental priorities; propelling the engineering and construction industry forward
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Recognizing the positive impact companies can make on social and climate matters, Black & Veatch released its Sustainability Report. The annual report provides a reflection on the global engineering, procurement, construction and consulting leader’s progress toward its 2020-2023 sustainability strategy, as well as a look ahead as sustainability measurement and goal setting evolves globally.
While outlining Black & Veatch’s sustainability commitments, the new report — available here — highlights the company’s alignment to the Ten Principles of the United Nations (UN) Global Compact, the CEO Water Mandate and its Caring for Climate pledge. Steps toward accomplishing each commitment are detailed across 2021, a year defined by reentry into workplaces and public spaces as the COVID-19 pandemic waned, evolving definitions of sustainability and its related benchmarks, and growing urgency to decarbonize our planet’s economies.
Black & Veatch’s 2020-2023 Sustainability Strategy – built upon the concept of “Accelerate Zero,” – guides the company’s work and evaluation of progress toward the sweeping environmental, social and governance responsibilities championed by the company’s employee-owners, involving such issues as carbon emissions, water use, diversity, equity and inclusion, anti-corruption, forced labor, human trafficking and safety. A key tenet of the strategy is the company’s pledge to operate at net-zero greenhouse gas emissions by 2025.
“Megatrends such as climate change, decarbonization and electrification – along with a focus on the principles embodied in the U.N. Sustainable Development Goals – are reshaping how we engage and co-exist with our clients and communities,” said Mario Azar, incoming chairman and CEO of Black & Veatch. “We appreciate that clients, community partners and other stakeholders not only share in our progress but work with us to identify new opportunities to help change the world through sustainable infrastructure.”
With sustainability embedded into the company’s mission statement, 2023 strategy and client solutions, Black & Veatch’s Accelerate Zero program continued to advance, with 2021 highlights including:
For more information about Black & Veatch’s Corporate Sustainability Program, click here.
Editor’s Notes:
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
Black & Veatch Media Contact:
JIM SUHR | +1 913-458-6995 P | +1 314-422-6927 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 855-999-5991
4.4MW of Ground Mount Solar Advances Army Climate Change Strategy
FORT RILEY, Kan.--(BUSINESS WIRE)--Corvias is kicking off the third phase of its solar energy program at Fort Riley that, when complete, will bring nearly 17MW of renewable energy to power more than 40% of Fort Riley homes. For this phase, Onyx Construction will deliver approximately 4.4MW with two ground mount solar arrays located in the housing community. The project will incorporate a microgrid that can provide backup power to housing and other mission-critical facilities in an emergency.
When phase three is complete, the Corvias solar program will deliver more than 38MW of power across Fort Riley, Fort Meade, and Aberdeen Proving Ground. The military family housing partnership between Corvias and the U.S. Army at Fort Riley is committed to supporting the U.S. Army’s energy-independence goals to ensure mission infrastructure, installation security and the well-being of service members and their families.
“Corvias’ energy services are an extension of our commitment to helping our partners achieve their goals while materially improving the community in which we live and serve,” said Corvias Managing Director Peter Sims. “The Fort Riley solar program is a great example of how the Military Housing Privatization Initiative can contribute to the greater goals of the Army such as providing 100% carbon pollution-free electricity for installation needs by 2030.”
To date, the Corvias solar and energy efficiency program has delivered 28MW of rooftop and ground mount solar in eight phases benefitting three Army installations. This is the equivalent of removing almost 6,000 cars from the road or preserving 187 acres of U.S. forests per year. The solar project complements the Corvias utility management program, which is updating approximately 16,000 military homes with energy and water efficiency technology.
At Fort Riley, Corvias recently delivered 32 renovated and completely reconfigured homes in the Rim Rock neighborhood, a $12M energy upgrade project across 3,800 homes, and is constructing more than 40 new duplex homes in the Warner Peterson community for senior noncommissioned officers.
About Corvias and the Military Housing Privatization Initiative
Corvias is a partner to the U.S. Army as part of the U.S. Department of Defense Military Housing Privatization Initiative (MHPI) to revitalize, operate and maintain on-base military family housing. MHPI has enabled renovations, new construction, and water and energy-saving initiatives, including the largest solar project in Kansas located at the Fort Riley military housing community, which is part of Corvias’ partnership with the Army. In 2019, Corvias developed a $325 million Solutions Investment for its Department of Defense portfolio to fund strategic modernization and resiliency improvements to its U.S. Army base housing infrastructure.
Mary Humphreys
(571) 309-5943
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NEW YORK--(BUSINESS WIRE)--#KBRA--KBRA releases a report on trends across KBRA’s portfolio of 70 rated renewable transactions. As of 1H 2022, KBRA has an active renewable portfolio with over $16 billion in rated debt, that includes projects in solar, wind, hydropower, and other renewable sectors. The portfolio is located throughout North and South America (primarily in the U.S.) and Europe.
Renewable energy projects continue to progress at an accelerated pace as many municipalities, states, and countries set clean energy goals and work toward implementing their energy transition plans. While the expansion of renewable assets is positive from an environmental perspective, there are several credit risks that could impact the financial performance of these projects. The report notes that solar projects have performed more consistently in line with expectations compared to wind and hydropower projects, despite disruptions caused by natural disasters. KBRA expects to see continued growth in the solar and wind sectors driven by new projects coming online, particularly in the community solar space, and increased investor and stakeholder demand.
Key Takeaways
Click here to view the report.
Related Report
About KBRA
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
Analytical
Adeeti Amin, Director
+1 (646) 731-2332
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Helen Habegger, Analyst
+1 (646) 731-1288
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Andrew Giudici, Senior Managing Director
+1 (646) 731-2372
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Business Development
Michele Patterson, Managing Director
+1 (646) 731-2397
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DUBLIN--(BUSINESS WIRE)--The "Power to Gas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The power to gas market is expected to register a CAGR of more than 50% during the forecast period 2022 - 2027.
Companies Mentioned
Key Market Trends
Power-to-hydrogen to be the Fastest-growing Segment
Europe 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 million, till 2027
4.3 Existing Power-to-gas Plants, by Region and Capacity
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Technology
5.2 Capacity (Qualitative Analysis Only)
5.3 End User
5.4 Geography
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/yf8rx6
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) will release financial results for its second quarter of fiscal year 2022 on Thursday, July 28, 2022. The company’s second quarter results will be published in an Investor Letter, which will be issued at approximately 4:30 p.m. Eastern Time (ET) and made available at L3Harris.com.
The following morning, Friday, July 29, 2022, company leadership will host a call at 8:30 a.m. ET. The call will last approximately 45 minutes and be focused on questions and answers.
The dial-in numbers for the teleconference are (U.S.) 877-407-6184 and (International) 201-389-0877, and participants will be directed to an operator. Please allow at least 10 minutes before the scheduled start time to connect to the teleconference. Participants are encouraged to listen via webcast at L3Harris.com. A recording of the call will be available on L3Harris.com, beginning at approximately 12 p.m. ET on July 29.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has approximately $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.
Rajeev Lalwani
Investor Relations
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321-727-9383
Jim Burke
Media Relations
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321-727-9131
Proposed plan would provide $100 million per year in incentives, education and infrastructure support to remove barriers to electrification and deliver significant environmental and air quality improvements for communities
CHICAGO--(BUSINESS WIRE)--ComEd announced that it has submitted its plan to support the adoption of beneficial electrification (BE) technologies, including customer adoption of electric vehicles (EVs) to the Illinois Commerce Commission (ICC), which regulates the state’s public utilities. ComEd is proposing to commit $100 million annually over the next three years to promote beneficial electrification, with programs designed to reduce upfront costs of EVs and charging equipment; enable broad, equitable deployment of charging infrastructure and other electrification technologies; educate customers; and prioritize investments equitably for communities in need.
This plan would significantly lower carbon emissions and provide invaluable health and human welfare benefits including air quality improvements derived from a reduction of harmful pollutants from vehicle tailpipes. The plan marks the latest milestone in the implementation of the Climate and Equitable Jobs Act (CEJA). ComEd’s plan advances the objectives of CEJA, including the law’s goal of having 1 million EVs on the road in Illinois by 2030 and reducing greenhouse gas emissions and improving air quality for communities across the state.
Through a mix of incentives, new rate design options, and educational and technical support, ComEd’s plan would help promote the transition to clean transportation and other clean technologies. The proposed investments would prioritize low-income customers and customers residing in environmental justice and Restore, Reinvest, Renew (R3) communities, as defined by the State of Illinois.
“ComEd is committed to supporting a clean energy future that promotes cleaner air and safer communities, and that helps all of our communities achieve the goals set forward by the state’s new clean energy law,” said Gil C. Quiniones, CEO of ComEd. “The threat of climate change requires us to take swift action to reduce emissions by moving faster to adopt cleaner technologies. Designed with input from a wide range of local stakeholders and experts, our plan will reduce barriers for customers and support broad adoption of electrification across homes, schools, and communities in our region – keeping the state at the forefront for clean energy while creating the infrastructure needed to eliminate harmful emissions across all our communities.”
ComEd made the announcement during a ribbon-cutting ceremony at a recently installed Multi-Unit Dwelling (MUD) EV charging station at 43rd Street and Calumet Avenue in Chicago’s Bronzeville neighborhood. This installation is the first of five planned MUD charging stations that will serve residential properties with three or more units and enable research funded in part by a U.S. Department of Energy grant. EV charging infrastructure, and especially infrastructure designed to provide accessibility to all communities, is vital for the broad adoption of EVs. The new BE Plan, combined with state and federal programs, will further expand deployment of EV infrastructure across northern Illinois.
“For too long, the health of our communities has been negatively impacted by harmful air pollution, but CEJA is giving us an opportunity to reverse that trend and accelerate the transition to EVs,” said Billy Davis, General Manager of Jitney EV and a member of the Bronzeville Community of the Future Advisory Council. “The Beneficial Electrification plan ComEd is proposing will give a much-needed boost to our efforts in Bronzeville and across the region to electrify transportation, eliminate charging deserts, improve air quality, and create economic opportunities for new businesses.”
In support of the state’s goals, the plan will contribute to long-term air quality improvements by enabling EV adoption to lower carbon and air pollutant emissions. ComEd estimates that vehicle and other incentives and rebates as outlined in the plan would help remove 900,000 metric tons of carbon emissions, the equivalent of the amount of carbon sequestered by approximately 1 million acres of U.S. forests in one year, an area approximately the size of Glacier National Park. What’s more, the plan would avoid an estimated 4,000 metric tons of local pollutants emitted from vehicle tailpipes, providing health and human welfare benefits, especially for disadvantaged communities where vehicle emissions have the greatest health impacts.
“CACC encourages the use of clean fuel vehicles, clean fuels, and advanced vehicle technologies to promote an improved environment, energy efficiencies, domestic and renewable fuels, and a reduction in the use of imported petroleum,” said John Walton, Chair of the Chicago Area Clean Cities (CACC) coalition. “Electric vehicles have a role in furthering our mission to improve air quality and reduce lung disease, and ComEd’s beneficial electrification plan will help expand access to infrastructure and encourage more robust EV participation for our region.”
“While Illinois has dramatically cut air pollution from fossil fuel power plants, vehicles are now the number one cause of carbon pollution in Illinois” said Brian Urbaszewski, Director of Environmental Health Programs at Respiratory Health Association. “With a focus on getting more zero-emission electric vehicles in communities, ComEd’s Beneficial Electrification plan is a serious roadmap for improving air quality precisely where the combination of high lung disease rates and unhealthy air pollution levels present the greatest threat to area residents.”
Earlier this year, ComEd participated in a series of workshops to engage regional partners, including 10 meetings hosted by the ICC, to formalize input from those representing communities, health advocacy, industry, local business, school districts and other customer groups and interests across the service region. ComEd embraced the feedback it heard and proposed a plan to address the priorities of the communities it serves.
The key components of the BE Plan include:
Residential Program
The BE Plan includes $15 million annually in incentives that will reduce upfront costs related to purchase and installation of EVs, in-home charging stations, and non-transportation electrification equipment (such as building heating and cooling, lawn equipment, electric stoves, etc.). Larger rebates will be available for low-income customers and those located in environmental justice and/or equity investment eligible communities. To ensure those with the greatest needs have access to resources, ComEd will target 50 percent of its residential program funds for customers in equity investment eligible communities.
C&I and Public Sector Program
To reduce the cost barriers associated with purchasing fleet vehicles and installing charging stations, the plan proposes $63 million annually to support new rebates for fleet electrification, with the majority of funding going toward vehicle rebates for public transit, commercial and school fleets. Funding will also support charging installation costs for public sector customers and public charging providers in environmental justice or R3 communities. This is intended to provide additional support to accelerate the benefits of clean transportation to environmental justice and equity investment eligible communities. Across the C&I and Public Sector Program, ComEd will target more than 40 percent of funding for customers within or primarily serving equity investment eligible communities.
“ComEd’s Beneficial Electrification Plan proposes strategies to accelerate electrification of transportation and buildings that are consistent with our Climate Action Plan for the Chicago Region,” said City of Geneva Mayor Kevin Burns, Chairman of the Metropolitan Mayors Caucus’ Environment Committee, Energy Subcommittee, and EV Readiness Advisory Committee. “The plan offers resources to help local governments, businesses and residents alike adopt new technologies that will reduce carbon emissions, reduce air pollution, and promote economic growth, particularly in communities that have faced barriers to electrification.”
“Innovative manufacturers not only use emerging new technology like electric vehicles and charging infrastructure, we create it and produce it,” said Mark Denzler, President & CEO of the Illinois Manufacturer’s Association. “Since 1990, manufacturing has reduced emissions more than any other sector in the United States. The manufacturing sector is developing new technologies that make energy more affordable, reliable, and cleaner every year. This new program will incent our state’s leading economic engine to further invest in electric-powered transportation and support Illinois jobs.”
New C&I EV Charging Class
In addition to incentives, ComEd is proposing a dedicated EV charging delivery customer class for (commercial and industrial (C&I) customers. The new rate class would significantly reduce upfront infrastructure or “make-ready” costs and would provide members an alternative to the default demand-based rate structures, which, at low utilization rates, can make the cost of charging high for customers. These efforts reflect recommendations from stakeholders and are intended to reduce barriers to the deployment of charging infrastructure in ComEd’s service territory. ComEd expects the benefits of this new customer class to multiply the impact of federal funding that the Illinois Department of Transportation will employ to support the development of charging stations across the highway system.
“We are pleased to partner with ComEd to help advance the move toward electrification and drive the expansion of green jobs in the region,” said Brian Robb, Government Relations Director at Lion Electric. “In the last several years, Lion has been working with the elected officials, advocacy groups, environmental justice groups and many organizations such as ComEd to demonstrate how electrification can deliver economic growth, benefit a community’s health and well-being, and help build a solid charging infrastructure network in the State of Illinois.”
“Staying at the forefront of the emergence of electric-powered transportation options is important to the customers retailers serve and, therefore, important to us,” said Rob Karr, President, Illinois Retail Merchants Association. “This proposal by ComEd includes a provision that will make it more convenient and cost affordable for Illinois retailers to install beneficial electrification infrastructure such as charging stations.”
Customer Education and Pilot Programs
A $9 million community education program will empower customers to make the transition to electrification. This program will help residential and business customers understand the timeline and impact of electrifying personal vehicles and fleets, as well as how utility programs and rates can benefit them. ComEd is also proposing $5 million annually for pilots to study the benefits of various electrification strategies for customers and the grid.
Non-Transportation Opportunities
In addition to EV benefits, the BE Plan offers a broad opportunity to reduce carbon and other emissions across sectors. While most of the BE Plan focuses on clean transportation, ComEd is also proposing a set of non-transportation rebates to work in tandem with energy efficiency offerings to spur adoption of electric technologies in the residential, commercial and industrial sectors.
Rate Impact
ComEd is proposing a cost recovery plan that aligns benefits with costs, avoids large rate impacts, and that minimizes impact on low-income customers. Pending approval, the average residential bill won’t see an increase until 2025, with an average impact of 11 cents a month, and up to 21 cents a month by 2027. For C&I bills, customers would see a slow increase of 42 cents per Megawatt hour (MWh) in 2025, and up to 83 cents per MWh in 2027, year three of the program.
“I appreciate ComEd’s Beneficial Electrification plan,” said Rockford Mayor Tom McNamara. “It puts $300M over three years towards educating consumers on the benefit of electric vehicles, making EV charging stations in residential homes more easily attainable regardless of income through incentives and rebates, and should spur the use of a cleaner energy for commercial companies.
"The IEC Powered by Future Green is particularly excited with ComEd'S inclusion of a School Bus Vehicle-to-Grid (V2G) Pilot and a new rate class for electric school bus chargers that will alleviate the upfront cost burden of infrastructure upgrades,” said Tim Farquer, Administrative Lead for the Bus-2-Grid Initiative, a service of IEC Powered by Future Green, and Superintendent of Williamsfield Schools. “Add in ComEd's proposed electric school bus/charger rebates, and the upfront cost hurdle of school bus electrification will become much easier to clear. We welcome the opportunity to explore a partnership with ComEd to implement these new programs alongside new solar installs that benefit our most vulnerable students & schools. These programs bring us one step closer to the day our kids no longer recognize the smell of harmful diesel emissions."
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd
Media Relations
312-394-3500
BOSTON--(BUSINESS WIRE)--4AIR, the first and only rating system focused on comprehensive sustainability in private aviation, today congratulated the winners of the Waterloo Institute of Sustainable Aeronautics “Designing the Flight School of the Future” contest. First place went to Aileron Consulting Group; second place was awarded to Stack Effect; and third place went to 2FH Design. The contest was organized by the University of Waterloo-based institute, among the world’s leading centers for sustainable aviation research and education. As the basis of the competition, the institute asked contestants to support sustainability by reimagining the Waterloo Wellington Flight Centre, one of Canada’s largest flight training facilities. 4AIR President Kennedy Ricci served on the panel of judges for the contest that 4AIR co-sponsored.
“While carbon offset credits and Sustainable Aviation Fuel are today’s tools to reduce emissions from flight operations, we have to think about a comprehensive approach to sustainability,” said Ricci. “This holistic thinking requires looking at sustainability across all functions of our industry, from ground facilities and operations to training and flight schools. Aviation has a long history of innovation, and this contest is a great opportunity to encourage these kinds of ideas for the entire ecosystem.”
Entrants were invited to design two new buildings for the Waterloo Wellington Flight Centre: a main building for administration, instruction and other functions; and a hangar for aircraft maintenance. The design of these buildings was required to meet net-zero energy and carbon neutral performance targets using strategies such as high-performance envelope and sustainable materials, energy efficiency measures and integration of electric charging stations and electric storage for ground vehicles and aircraft, among other ideas. A judging premium was placed on real-world feasibility.
Winners’ designs incorporated novel and sustainable construction materials, renewable energy, flight-inspired architecture and thoughtful designs for stakeholder usage that could easily be replicated across other locations. The $5,000 first place prize, co-sponsored by 4AIR and the Waterloo Wellington Flight Centre, was part of nearly $10,000 awarded to three winning teams.
4AIR’s sponsorship of the “Designing the Flight School of the Future” contest organized by the University of Waterloo in Ontario, Canada also spoke to the company’s global focus. “Sustainability is a global challenge that requires global solutions,” said Ricci. “We want to advance aviation sustainability throughout the world and seek the best partners anywhere in the world to do so.”
Another example is 4AIR’s partnership with the Aviation Impact Accelerator (AIA), led by the University of Cambridge in the United Kingdom. The partnership supports the AIA’s research and development of interactive, evidence-based tools to engage decision-makers, the aviation industry and the public about how to achieve the ultimate goal of Net Zero Flight, under which flight activity would generate no additional climate-changing emissions.
Contributions generated from “Climate Champions” – the highest of 4AIR’s four levels of aviation sustainability – allows 4AIR to issue grants and make contributions in research to support new technologies aimed at reducing emissions in aviation. Established as the Aviation Climate Fund, to which individuals, companies and other aviation industry participants may contribute, it advances leading-edge research that shapes the future of aviation.
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, support for new technologies and other strategies.
For more information, visit us at www.4air.aero.
About the Waterloo Institute for Sustainable Aeronautics
The Waterloo Institute for Sustainable Aeronautics (WISA) mission is to be the world’s leading hub for sustainable aeronautics research, technology, and education. Designed to be different, WISA mobilizes the interdisciplinary research capacity of all six faculties at the University of Waterloo to drive meaningful and lasting change within the aviation and aerospace industries. Find out more at uwaterloo.ca/wisa.
About the Waterloo Wellington Flight Centre
Founded in 1932 at Lexington field in North Waterloo, the Waterloo Wellington Flight Centre (WWFC) is deeply rooted in the Waterloo region. WWFC is proud to offer a state-of-the-art facility, partner with two prestigious post-secondary institutions, offer industry-recognized training to individuals seeking a career in aviation and still strongly support the general aviator. WWFC’s Vision is to be the most respected flight school in Canada, providing excellence in training, equipment and facilities creating the highest degree of customer satisfaction and success.
Media:
Sarah Churbuck
The Hubbell Group, Inc.
Mobile: +1-561-289-6362
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Over 130 drivers recognized for exceptional professional driving achievements
GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, honored 132 drivers who have achieved career milestones that exemplify safety and excellence. These drivers include inductees into the esteemed Schneider Haul of Fame, and recipients of the Million Mile Driver Award and Consecutive Safe Driving Year Award.
“Driving is one of the noblest professions and we are proud to honor our drivers,” said Schneider President and CEO Mark Rourke. “Safety doesn’t just mean reliability for our customers, it means that our associates, who are the core of our business, are protected. Which is why it’s so important to highlight their commitment to safety.”
Of those recognized this year, drivers who accumulated three million safe driving miles or 20 consecutive years of safe driving without a preventable accident received the exclusive honor of being added to Schneider’s Haul of Fame. To permanently honor the recipients, plaques with their names are installed on the Haul of Fame wall at corporate headquarters in Green Bay, WI. This year 35 drivers met the criteria for the first time or had their plaque updated to reflect a higher-level award.
The Million Mile Award is an honor earned by Schneider drivers who have transported freight over one million miles while remaining accident-free. We’re honored to also recognize drivers who have remained accident-free for 10 consecutive years and each five consecutive year increment thereafter.
This year, 62 new inductees are joining the ranks of 6,416 existing Schneider million-plus milers. This amounts to over six billion miles driven without a single accident.
“Our drivers safely deliver food and goods - almost everything in our homes has been on a truck at one point,” said Rourke. “To safely accumulate a million or more miles is a commendable accomplishment.”
This year’s Million Mile Award winners include:
This year’s Consecutive Safe Driving Year Award winners include:
This year, 118 drivers earned a Safe Driving Award, joining over 9,000 active Schneider drivers who have attained at least one of the Consecutive Safe Driving Year milestones.
To learn more about earning a spot in the Haul of Fame professional drivers can visit SchneiderJobs.com
About Schneider
Schneider is a premier multimodal provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.
With $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.
For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.
Source: Schneider SNDR
Kara Leiterman, Media Relations Manager
M 920-370-7188
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, July 29, 2022, at 11:00 a.m. ET (8:00 a.m. PT).
Conference Call Information:
Date: Friday, July 29, 2022
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 800-491-5082
Conference ID #: 1185585
Speakers:
Jay Johnson – Executive Vice President, Upstream
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations
To access the live webcast, visit www.chevron.com.
The meeting replay will also be available on the company website under the “Investors” section.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
Media Contact:
Braden Reddall
+1 (925) 842-2209
DUBLIN--(BUSINESS WIRE)--The "Marine Propulsion Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global marine propulsion engine market reached a value of US$ 36.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 42.9 Billion by 2027, exhibiting a CAGR of 2.64% during 2021-2027.
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. These insights are included in the report as a major market contributor.
A marine propulsion engine burns fuel and enables ships to move across the water. It comprises a piston, valves, towers, casings, bearings, bedplates, crankcases, crankshafts, flywheels, generators, transformers, gearboxes, control panels, rotor blades, electrical controls, and cylinder blocks and liners. It has generators that supply electric power to motors and can operate on heavy fuel or diesel oil. Nowadays, it is widely utilized in modern merchant ships and offshore support vessels as prime movers across the globe.
The rising international trade on account of the increasing globalization and industrialization is escalating the demand for container ships to transport a variety of products, such as oil, natural gas, mineral ores and consumer products. This represents one of the major factors bolstering the global marine propulsion engine market growth.
Moreover, the increasing focus on reducing fossil fuel consumption and improving energy efficiency is escalating the adoption of marine electric propulsion engines worldwide. Apart from this, the advent of nuclear propulsion and the growing preference for liquefied natural gas (LNG) are further contributing to the market growth.
Besides this, advancements in technology and the rising environmental awareness are resulting in the utilization of alternate fuels, such as bio-methane and algal oils, to run marine propulsion engines with minimal exhaust gas emissions.
Moreover, the market players are focusing on enhancing the efficiency of marine propulsion engines to increase the cargo holding capacity of new-generation tankers, which is anticipated to fuel the market growth.
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 Marine Propulsion Engine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Engine Type
7 Market Breakup by Power Source
8 Market Breakup by Power Range
9 Market Breakup by Vessel Type
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/mw1fbs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DALLAS--(BUSINESS WIRE)--HF Sinclair Corporation (NYSE:DINO) (“HF Sinclair”) today announced that its Board of Directors (the “Board”) appointed Rhoman J. Hardy to the Board, effective July 2, 2022. This appointment increases the size of the Board to twelve directors and increases the number of independent directors on the Board from nine to ten.
Mr. Hardy joined Shell USA, Inc. (formerly Shell Oil Company, Inc.) in 1988, and at the time of his retirement in 2022, Mr. Hardy served as Senior Vice President, Shell Chemicals and Products, for the U.S. Gulf Coast, a position he held since 2021. Prior to that time, Mr. Hardy served in a number of leadership positions, including as Vice President, Shell Chemicals and Products/General Manager, Shell Geismar Chemical Site from 2018 until 2021 and as General Manager, Shell Geismar Chemical Site from 2015 to 2018.
With more than 34 years of experience in the oil and gas industry, Mr. Hardy brings to the Board significant insight in the development of energy infrastructure and extensive technical and operational expertise, as well as executive and general management experience.
“As we continue to further diversity and strengthen our Board, we are excited to welcome Rhoman. He brings strong industry experience and expertise to the HF Sinclair Board. We look forward to his contributions to our Board and HF Sinclair,” said Franklin Myers, Chairman of the Board.
About HF Sinclair Corporation
HF Sinclair Corporation, headquartered in Dallas, Texas, is an independent energy company that produces and markets high value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products in 19 states principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,300 Sinclair branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries. Through its subsidiaries, HF Sinclair produces renewable diesel at three of its facilities in Wyoming and New Mexico. HF Sinclair also owns a 47% limited partner interest and a non-economic general partner interest in Holly Energy Partners, L.P., a master limited partnership that provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HF Sinclair subsidiaries.
Forward-Looking Statements
The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: The statements in this press release relating to matters that are not historical facts are “forward-looking statements” based on management’s beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in our filings with the Securities and Exchange Commission (the “SEC”). Forward-looking statements use words such as “anticipate,” “project,” “will,” “expect,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding our plans and objectives for future operations. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that our expectations will prove correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Any differences could be caused by a number of factors, including, but not limited to, HF Sinclair’s and HEP’s ability to successfully integrate the Sinclair Oil Corporation (now known as Sinclair Oil LLC, “Sinclair Oil”) and Sinclair Transportation Company LLC (“STC”) businesses acquired from REH Company (formerly known as The Sinclair Companies) (collectively, the “Sinclair Transactions”) with their existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline; HF Sinclair’s ability to successfully integrate the operation of the Puget Sound refinery with its existing operations; the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing coronavirus (“COVID-19”) pandemic on future demand and increasing societal expectations that companies address climate change; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products or lubricant and specialty products in HF Sinclair’s markets; the spread between market prices for refined products and market prices for crude oil; the possibility of constraints on the transportation of refined products or lubricant and specialty products; the possibility of inefficiencies, curtailments or shutdowns in refinery operations or pipelines, whether due to infection in the workforce or in response to reductions in demand; the effects of current and/or future governmental and environmental regulations and policies, including the effects of current and/or future restrictions on various commercial and economic activities in response to the COVID-19 pandemic; the availability and cost of financing to HF Sinclair; the effectiveness of HF Sinclair’s capital investments and marketing strategies; the HF Sinclair’s and HEP’s efficiency in carrying out and consummating construction projects, including the HF Sinclair’s ability to complete announced capital projects, such as the construction of the Artesia renewable diesel unit and pretreatment unit, on time and within capital guidance; HF Sinclair’s and HEP’s ability to timely obtain or maintain permits, including those necessary for operations or capital projects; the ability of HF Sinclair to acquire refined or lubricant product operations or pipeline and terminal operations on acceptable terms and to integrate any existing or future acquired operations; the possibility of terrorist or cyberattacks and the consequences of any such attacks; uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for HF Sinclair’s refined products and create instability in the financial markets that could restrict HF Sinclair’s ability to raise capital; general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; a prolonged economic slowdown due to the COVID-19 pandemic which could result in an impairment of goodwill and/or long-lived asset impairments; and other financial, operational and legal risks and uncertainties detailed from time to time in the HF Sinclair’s and HEP’s SEC filings. The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
HF Sinclair Corporation
Craig Biery, Vice President, Investor Relations
214-954-6510
or
Trey Schonter, Manager, Investor Relations
214-954-6510
Authorization enables advanced drone operations to inspect 40+ power facilities in 7 states
RICHMOND, Va.--(BUSINESS WIRE)--Dominion Energy (NYSE: D) and Skydio, the leading U.S. drone manufacturer and world leader in autonomous flight, today announced the Federal Aviation Administration (FAA) has granted Dominion Energy a pivotal approval to fly Skydio drones beyond visual line of sight (BVLOS) to inspect power generation facilities in seven states. Dominion obtained the waiver in partnership with Skydio’s regulatory team under the FAA BEYOND program, as part of the Virginia team led by the Virginia Tech Mid-Atlantic Aviation Partnership (MAAP) along with the Virginia Innovation Partnership Corporation.
Representing the democratization of advanced drone operations, the waiver allows individual operators — like plant engineers — to fly drones beyond their line of sight with unprecedented efficiency. There is no requirement to use an additional crew member or technology to detect crewed aircraft. Skydio's AI technology allows the pilot to safely fly their missions in close proximity to structures in a way that would be difficult or impossible with a drone that uses less sophisticated technology. As a result of this waiver, Dominion Energy — one of the nation’s largest energy companies — may conduct scaled BVLOS operations to inspect more than 40 power facilities in Connecticut, Georgia, Indiana, North Carolina, South Carolina, Virginia and West Virginia.
Dominion Energy first deployed drones in 2014, focusing primarily on identifying electrical transmission line defects. Since then, Dominion has expanded its drone program to include approximately 50 drones and drone pilots serving multiple operational business segments. At power generation facilities, Dominion Energy drones take volumetric measurements and assess construction progress, provide surveying and mapping services, and inspect infrastructure.
“A 20-minute inspection by a battery-powered drone will increase safety for our colleagues, who will no longer need to rappel down the side of a structure, as well as save time during inspection-related preparations,” said Nate Robie, Dominion Energy’s manager of unmanned systems program. “As a pioneer in beyond visual line of sight drone use, Dominion Energy contributes to a safer, greener future, as well as potentially lowering operations and maintenance costs, which ultimately benefits our customers.”
Dominion Energy will conduct these operations using Skydio X2, the ultimate intelligent aerial tool for enterprise applications. Skydio X2 pairs a rugged, foldable airframe with Skydio Autonomy, the world’s most advanced AI-based autonomous flight engine, which enables Skydio drones to safely navigate any environment, including areas without GPS, with 360° obstacle avoidance. Designed, assembled, and supported in the USA, the Skydio X2 also meets the demanding supply chain and cyber security requirements necessary for inspecting critical infrastructure.
"This pivotal approval brings Dominion Energy, Skydio and the entire drone industry one step closer to advanced drone operations at scale," said Jenn Player, Skydio’s Director of Regulatory Affairs. "When it comes to scaling beyond visual line of sight operations, having an intelligent drone makes all the difference and Skydio was proud to support Dominion Energy in obtaining this waiver that enables them to inspect critically important facilities."
MAAP leads Virginia’s BEYOND team and other major federal UAS-integration efforts, and their work has consistently led to landmark authorizations and operations that have advanced the industry. They work with the FAA, other federal agencies, and leading companies on fundamental research and advanced testing, bridging industry goals and regulatory priorities to develop practical, powerful, evidence-based solutions that set new precedents and lay the groundwork for expanded operations.
“Two major goals of the research we conduct as an FAA-designated test site are helping companies like Dominion develop practical ways to use drones to make their operations safer and more efficient, and working with drone companies like Skydio to find opportunities to leverage the real power of their technology to make new kinds of operations possible,” said Tombo Jones, MAAP’s director. “This waiver achieves both of those things and is a real win for us in our efforts in the BEYOND program. We’re excited to see the difference it will make for Dominion and Skydio now, and what it lays the groundwork for in the future.”
About Dominion Energy
About 7 million customers in 13 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.
About Skydio
Skydio is the leading U.S. drone manufacturer and world leader in autonomous flight. Skydio leverages breakthrough AI to create the world’s most intelligent flying machines for use by consumer, enterprise, and government customers. Founded in 2014, Skydio is made up of leading experts in AI, robotics, cameras, and electric vehicles from top companies, research labs, and universities from around the world. Skydio designs, assembles, and supports its products in the U.S. from its headquarters in Redwood City, CA, to offer the highest standards of supply chain and manufacturing security. Skydio is trusted by leading enterprises across a wide range of industry sectors and is backed by top investors and strategic partners including Andreesen Horowitz, Levitate Capital, Next47, IVP, Playground, and NVIDIA.
Skydio Head of Communications
Kate Sheehy
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has signed a Letter of Intent with Equinor Energy do Brazil Ltda., a subsidiary of Equinor ASA (Equinor), for an integrated Front End Engineering and Design (iFEED™) study on its BM-C-33 project offshore Brazil.
The study will finalize the technical solution for the proposed gas and condensate greenfield development in the pre-salt Campos Basin before Equinor makes its final investment decision (FID).
The FEED study includes an option to proceed with a direct award to TechnipFMC for the integrated Engineering, Procurement, Construction and Installation (iEPCI™) phase of the project.
The major(1) iEPCI™ contract would cover the entire subsea system, including Subsea 2.0™ tree systems, manifolds, jumpers, rigid risers and flowlines, umbilicals, pipeline end terminations, and subsea distribution and topside control equipment. TechnipFMC would also be responsible for life-of-field services.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited about this iFEED™ award, which demonstrates our collaborative relationship with Equinor and their continued confidence in our technologies and integrated approach. This integrated project will be the first time Equinor uses our Subsea 2.0™ configure-to-order production systems, of which we’re seeing increased customer adoption.”
(1) |
For TechnipFMC, a “major” contract is over $1.0 billion. Order inbound for the iEPCI™ phase of the project remains subject to FID and contract approval. |
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
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Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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Company Marks Milestone Growth and Looks Ahead to Next Steps in Successful Journey
IRVINGTON, N.Y.--(BUSINESS WIRE)--#castlegreenfinance--X-Caliber Capital, a national, direct commercial real estate lender, today announced it is commemorating its five-year anniversary by celebrating and acknowledging the key milestones that have positioned the company for future success. Since its establishment, X-Caliber has added three lending verticals and an investment management firm, and its legacy of lending is built on decades of success.
X-Caliber Capital was born on July 1, 2017, when Co-Founders Chris and Sharon Callahan completed the purchase of a predecessor company called The Phares Company, a Kentucky-based, nationally recognized HUD and GNMA-approved mortgage lender and loan servicer with twenty-six years of experience. They subsequently changed the company’s name to X-Caliber Capital and established its headquarters in Irvington, NY with five team members.
The following year, in 2018, they launched X-Caliber Funding LLC, a bridge lending platform that provides borrowers of seniors housing, healthcare and multifamily properties with interim lending solutions until a permanent FHA loan can be executed.
Over the last eighteen months, they have integrated national, innovative lending platforms including CastleGreen Finance, a Commercial Property Assessed Clean Energy (C-PACE) capital provider, as well as X-Caliber Rural Capital, a USDA-licensed lender. Most recently, the company introduced X-Caliber Investment Management (XCIM), a specialist firm and investment fund.
X-Caliber Capital’s rapid and strategic growth has positioned them to offer lending products across most asset classes, with a strong focus on affordable and market-rate multifamily housing. X-Caliber also services the loans it originates, and has a current and growing portfolio of $1.3B.
“In 2017, we started out with five key members of our team and a vision, and I am both pleased and proud of the company we have developed - one that has evolved into a full-service real estate finance and investment firm,” said Chris Callahan, President and CEO. “I am fortunate to be surrounded by sixty amazing team members to date, with top experts in all of our diverse lending and investment platforms, whose deep knowledge and strong leadership have helped support our growing platform and our impact lending mission.”
“In X-Caliber Capital, I not only found a partner that shared my enthusiasm for the future of the business and supported the vision and goal, but also exceeded every expectation in terms of a company culture that truly puts people first and where everyone pulls together as a unified team focused on providing the best commercial real estate finance solutions out there," said Sal Tarsia, Managing Partner, CastleGreen Finance. “I knew when we formed CastleGreen, we would be able to successfully partner with the talent and extensive experience of the individuals to be successful, however, the result of joining the X-Caliber family was a consolidated company far greater than the sum of its parts.”
“I had no idea how far-reaching and impactful of an organization the X-Caliber group of companies would become when I joined,” said Jordan Blanchard, Co-Founder and Executive Manager of X-Caliber Rural Capital (XRC). “The XRC team and I have been fortunate to be part of the tremendous growth and to see the benefits for the residents of affordable housing, senior citizens in need of enhanced medical care, sustainable energy, and rural economic development. As a family of companies, we can provide significantly more impact than we could as a standalone entity. I can’t wait to see what we can mutually accomplish over the next five years.”
Through its expansive lending program, X-Caliber Capital focuses on some of the nation’s greatest challenges – affordable housing, the environment, care for our seniors, and rural businesses. The company is built on a foundation of twelve core principles and has been recognized nationally for its positive culture.
“A strong working environment provides a positive atmosphere for employees to be themselves and to share their expertise and talents to the fullest,” said Callahan.” A company’s bottom line benefits from happy team members who want to do their best and become invested in the journey, and we have a great adventure ahead of us. I look forward to the next five years and well beyond that.”
This year, X-Caliber was certified a Great Place to Work®, a national certification that means X-Caliber Capital is one of the best companies to work for in the country. In fact, X-Caliber’s employees agreed, with 100% of the company agreeing it is a great place to work. Last month, the company was named a Fortune Best Places to Work in New York, a highly competitive recognition that means they are one of the best companies to work for in New York.
About X-Caliber – https://x-calibercap.com/
X-Caliber Capital is a nationally recognized direct commercial mortgage lender and loan servicer. We are an FHA-approved Multifamily Accelerated Processing (MAP) lender and GNMA-approved MBS issuer, and together with our affiliates, provide bridge, USDA, and C-PACE financing solutions. We strive to deliver to our clients, and to the communities in which we lend, the best financing solutions available to support their business goals, while focusing on some of the nation’s greatest challenges – affordable housing, the environment, care for our seniors, and rural businesses. By leveraging the most effective private and government programs in the country, we can harness the power of our expertise and practice the values for which we stand, so we can make the world a better place for all.
Media:
Bonnie Habyan
914.815.9806
HOUSTON--(BUSINESS WIRE)--MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the second quarterly payment period ended June 30, 2022.
Unitholders of record on July 15, 2022 will receive a distribution amounting to $8,050,000 or $0.700 per unit payable July 25, 2022.
Volumes, average price and net profits for the payment period were:
Volume (BOE) |
|
158,092 |
|
|
Average price (per BOE) |
|
$ |
102.11 |
|
Gross proceeds |
|
$ |
16,142,188 |
|
Costs |
|
$ |
5,299,150 |
|
Net profits |
|
$ |
10,843,038 |
|
Percentage applicable to Trust’s 80% |
|
|
|
|
Net profits interest |
|
$ |
8,674,430 |
|
MV Partners reserve for capital expenditures |
|
$ |
-- |
|
Total cash proceeds available for the Trust |
|
$ |
8,674,430 |
|
Provision for current estimated Trust expenses |
|
$ |
(202,762 |
) |
Amount withheld for future Trust expenses |
|
$ |
(421,668 |
) |
Net cash proceeds available for distribution |
|
$ |
8,050,000 |
|
As previously disclosed, in November 2021, the Trustee notified MV Partners, LLC (“MV Partners”) that the Trustee intends to build a reserve for the payment of future known, anticipated or contingent expenses or liabilities, commencing with the distribution payable in the first quarter of 2022. The Trustee intends to withhold a portion of the proceeds otherwise available for distribution each quarter to gradually build a cash reserve to approximately $1.265 million. This amount is in addition to the letter of credit in the amount of $1.8 million provided to the Trustee by MV Partners to protect the Trust against the risk that it does not have sufficient cash to pay future expenses. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the Trust Agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold $421,668 from the proceeds otherwise available for distribution this quarter, for a total amount of $632,502 withheld to date.
This press release contains forward-looking statements. Although MV Partners has advised the Trust that MV Partners believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended June 30, 2022. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
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