HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its third quarter 2022 earnings conference call at 10:00 a.m. Central Standard Time on Friday, November 11, 2022. FET will issue a press release regarding its third quarter 2022 earnings prior to the conference call.
The call will be webcast through the Investor Relations link on FET’s website at ir.f-e-t.com.
Important note regarding the process for dialing in to the conference call: Participants who want to join the call and ask a question should register on FET’s Investor Relations website page or click here to receive the dial-in numbers and a unique PIN for the call. Participants are encouraged to log in to the webcast or dial in approximately ten minutes prior to the call’s start time. A replay of the call will be available on the Investor Relations website beginning on November 11, 2022, at approximately 5:00 p.m. Central Standard Time.
FET is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.
Rob Kukla
Director Investor Relations
281.994.3763
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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced (1) recent upgrades by Fitch Ratings, Inc. (“Fitch”) to the Company’s corporate credit rating and (2) $105 million in additional purchases of the Company’s outstanding senior notes.
Matador’s Credit Rating Upgraded by Fitch
On September 29, 2022, Fitch upgraded Matador’s Long-Term Issuer Default Rating (IDR) from ‘B+’ to ‘BB-’. In its September 29, 2022 press release, Fitch noted, “The upgrade reflects the company’s production growth momentum, Management’s continued commitment to a conservative financial policy and significant gross debt reduction, which has materially improved credit metrics. Matador’s ratings reflect the company’s high margin, oil-weighted Delaware acreage, supportive midstream assets, strong unit economics and cash netbacks, sub-1.0x leverage and clear maturity schedule.” More information regarding Fitch’s upgrade of Matador may be found at www.fitchratings.com.
$105 Million in Additional Bonds Repurchased
Between September 12, 2022 and September 30, 2022, Matador used a portion of its free cash flow to repurchase $105 million of its outstanding senior notes in a series of open market transactions, reducing its outstanding bonds from $862 million at September 12, 2022 (and $1.05 billion originally) to $757 million at the end of the third quarter. Over the past seven quarters, beginning in the fourth quarter of 2020, Matador has reduced its outstanding debt by $768 million or just over half of Matador’s then total revolving debt and senior notes outstanding.
Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “We are very pleased to receive Fitch’s upgrade to our corporate credit rating. As previously announced, Moody’s Investors Service upgraded Matador’s corporate family rating from ‘B1’ to ‘Ba3’ and S&P Global Ratings upgraded Matador’s corporate credit rating from ‘B+’ to ‘BB-’. We have now transitioned in the last 30 days from being a ‘single b’ company to a ‘double b’ company across the board. These upgrades reflect our ongoing commitment to repaying debt, improving capital efficiency, our production profile and cash returns to our shareholders. This upgrade also reflects the strength of both our balance sheet and our strong operational execution. We wish to express our appreciation to the rating agencies for their careful consideration of these factors in making their upgrade determination, and we look forward to working together with each of them as Matador continues to build value for its shareholders and bondholders. We look forward to sharing in late October our third quarter financial results, our operational progress and the growth in value of our oil and natural gas assets and our midstream business as part of our third quarter earnings release.”
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
Forward-Looking Statements
This press release includes “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. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; the operating results of the Company’s midstream’s oil, natural gas and water gathering and transportation systems, pipelines and facilities, the acquiring of third-party business and the drilling of any additional salt water disposal wells; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; impact on the Company’s operations due to seismic events; availability of sufficient capital to execute its business plan, available borrowing capacity under its revolving credit facilities and otherwise; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; the operating results of and the availability of any potential distributions from our joint ventures; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and its business; and the other factors which could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Mac Schmitz
Vice President - Investor Relations
(972) 371-5225
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared the quarterly cash distribution paid to Enterprise common unitholders with respect to the third quarter of 2022 of $0.475 per unit, or $1.90 per unit on an annualized basis.
The quarterly distribution will be paid Monday, November 14, 2022, to common unitholders of record as of the close of business Monday, October 31, 2022. This distribution represents a 5.6 percent increase over the distribution declared with regard to the third quarter of 2021.
This year will be the 24th consecutive year of distribution growth. Enterprise repurchased approximately $95 million of its common units in the open market during the third quarter of 2022 and has repurchased a total of $130 million of common units in 2022. Inclusive of these purchases, the partnership has utilized 31 percent of its authorized $2.0 billion buyback program.
Enterprise will announce its earnings for the third quarter of 2022 on Tuesday, November 1, 2022, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9 a.m. CDT with analysts and investors to discuss earnings. The call will be webcast live on the Internet and may be accessed through the “Investors” section of the partnership’s website at www.enterpriseproducts.com. A replay of the webcast will be available following the conference call and may be accessed approximately one hour after completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage and marine terminals; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets currently include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0 percent) of Enterprise’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Enterprise’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635
DUBLIN--(BUSINESS WIRE)--The "Solar Rooftop Market Opportunity in India" report has been added to ResearchAndMarkets.com's offering.
Solar rooftop is going to play a pivotal role in India's capacity addition through utilization of energy from sun. While the utility scale solar capacity addition saw a significant jump of ~ 5 GW when compared on y-o-y basis for CY 2020 and CY 2021, respectively.
Overall solar capacity addition in India breached the 10 GW in CY 2021 wherein the utility scale addition stood at 8.3 GW and solar rooftop contributed to 1.7 GW. This growth in momentum of solar rooftop capacity addition was driven mostly by commercial and industrial players at large.
It is, however, pertinent to note that despite the north-bound trajectory of overall costs in terms of installation which grew nearly 17%. This was on annual basis in CY 2021 when compared to CY 2020. The surge in costs are observed in Q1 2022 (CY) as well with close to 6% growth locked in cost when compared to Q4 2021 (CY).
Despite, an increasing cost trend the rate of installations observed in last 4 quarters beginning CY 2021 has seen an addition in excess of 400 MW per quarter till Q1 2022. India has added 456 MW in January-March 2022 period which is close to 34% higher than the installations of 341 MW during the same period in 2021.
The solar rooftop segment shall be crucial in India adding more RE capacities especially solar as it shall be a key resource driver with favorable Government policies & schemes.
What can lead solar rooftop be a game changer in decentralized energy solution in India and drive investments on a rapid pace?
Solar rooftop hold immense potential in securing last mile green connectivity in India with possibly least impact upon grid stability. Most of the RTS developers and value chain providers are building fast paced solutions to tip the key bottlenecks of awareness among consumers and purchasing power parity in the event of lack of apt finances.
In this milieu with correct measures by Government has enabled a right atmosphere for increased pace of RTS capacity additions in the country. Having said so the realization of the potential of RTS will take some on ground factual understanding for the developers to bridge the gap of capacity additions pace in the country. To RTS market in a regional dynamism exists wherein the market is flooded with small unorganized players who pose significant competition in certain end use category with repeat orders.
Moreover, the regulatory & policy environment across the state's (due to concurrent structure) does not hold similarity and has specifics to it w.r.t to development models of RTS whether on RESCO or CAPEX. Therefore, factoring this a holistic potential assessment of RTS potential is required with a split across the key industries and on a state-wide basis which shall make the approach to go-to-market (GTM) strategies for the market players an easy job.
Keeping this in mind the domain specialists and market research experts at eninrac consulting thought to conduct a detailed "Voice of Consumer (VoC)" survey on pan India basis adapting a cluster-based approach for RTS uptake at an augmented pace in the country.
Companies Mentioned
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For more information about this report visit https://www.researchandmarkets.com/r/tixic2
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Funding will expand operations across the US and globally to meet increased property owner demand for affordable turnkey electric vehicle charging station networks
LOS ANGELES--(BUSINESS WIRE)--Please replace the release dated October 3, 2022, with the following corrected version due to multiple revisions.
The updated release reads:
LOOP GLOBAL INC. SECURES $60 MILLION TO REDEFINE EV CHARGING INFRASTRUCTURE
Funding will expand operations across the US and globally to meet increased property owner demand for affordable turnkey electric vehicle charging station networks
Loop Global Inc., an electric vehicle (EV) charging infrastructure company that provides property owners a turnkey, profitable solution for deploying EV charging networks, today announced the completion of a $40 million Series A-1 funding round. Loop will use the funds to expand its US operations, continuing to provide support to all 50 US states and expanding beyond the 15+ countries the company already supports. The funding round was co-led by Fifth Wall Climate, the largest venture capital firm focused on technology for the global real estate industry, and Agility Ventures, the corporate venture arm of Agility, a global leader in supply chain services, infrastructure and innovation. Keystone National Group, a leading private credit firm, provided Loop with a $20 million senior-secured credit facility to support the company’s rapid growth.
“At Loop, we believe the transition to clean electric vehicles will only move as quickly as the EV charging infrastructure that is there to support it,” said Dustin Cavanaugh, Co-Founder and CEO of Loop. “Loop is streamlining this transition by making next generation EV charging infrastructure solutions for property owners that are uniquely affordable and provide the lowest total cost of ownership on the market.”
With as many as 230 million electric vehicles expected to be on the road by 2030, the demand for affordable and reliable EV charging infrastructure is extremely high, yet many property owners do not know where to begin when it comes to implementing the technology across their properties. Loop’s comprehensive suite of smart, simple and affordable EV charging products provide ready-made solutions for passive charging at home, work and on the go.
“By focusing on implementing charging networks where drivers are already spending the majority of their day, we are enabling consumers to eliminate the burden of having to go out of their way to refuel and allowing them to prioritize convenience above all else,” said Cavanaugh. “Loop has the vision of making EV charging affordable and accessible to the world by empowering property owners with turnkey solutions to create passive and profitable charging networks that prioritize convenience for EV drivers.”
To date, Loop has sold over 7,000 charging stations worldwide through its Network Partner Program, which consists of over 100 resellers and distributors that make up a combined network of over 750 electrical contractors. The company’s next generation EV charging solutions are currently being adopted by both national and international municipalities, as well as some of the largest commercial, retail, multi-tenant, fleet and hospitality businesses in the world including AvalonBay Communities and also Fifth Wall strategic limited partners such as Hudson Pacific Properties, and Starwood Capital.
“It’s no secret that electric vehicles are the future of the transportation sector,” said Peter Gajdoš, Fifth Wall Partner and Co-Lead of its Climate team. “Loop’s vision is to completely transform the delivery of turnkey EV charging networks through an end-to-end, cost effective solution which enables property owners to passively offer EV charging services to their tenants, employees or customers.”
"The net zero transition is real, and it's already in progress. Governments, businesses, and consumers around the world are spending to make greener choices, including on electric vehicles,” said Henadi Al-Saleh, Agility Chairperson. “But to achieve scale, we need to take an ecosystem view. It's not any one green technology alone that will move the needle, but rather the ability to create the supporting infrastructure that allows for widespread adoption. That's what we like about Loop; it helps reduce the barriers to cleaner transport for more people."
For more information, visit evloop.io.
About Loop:
Loop is one of the fastest growing electric vehicle charging network infrastructure companies in the world. The company provides turnkey hardware, software and ongoing operating service-based solutions that simplify and streamline the delivery of cost-effective public and private EV charging network infrastructure for commercial, multifamily residential, fleet and municipal real estate markets. Since their launch in 2019, Loop has grown to provide comprehensive EV charging solutions in all 50 US states as well as over 15 countries and growing.
About Fifth Wall:
Founded in 2016, Fifth Wall, a Certified B Corporation, is the largest venture capital firm focused on technology for the global real estate industry. With approximately $3.2 billion in commitments and capital under management, Fifth Wall connects many of the world's largest owners and operators of real estate with the entrepreneurs who are redefining the future of the Built World. Fifth Wall is backed by a global mix of more than 100 strategic limited partners (LPs) from more than 15 countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Host Hotels & Resorts, Ivanhoé Cambridge, Kimco Realty Corporation, Lennar, Lowe's Home Improvement, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others. Fifth Wall believes this consortium represents one of the largest groups of potential partners in the global Built World ecosystem, which can result in transformational investments and collaborations with promising portfolio companies. For more information about Fifth Wall, its LPs, and portfolio, visit www.fifthwall.com.
About Agility Ventures:
Agility is a global leader in supply chain services, infrastructure and innovation. With a workforce of 50,000+ across its group of companies, Agility has a footprint in six continents and is a pioneer in emerging markets. Agility owns and operates businesses that include the world’s largest aviation services company; the market leader in industrial warehousing and logistics parks in the Middle East, South Asia, and Africa; a commercial real estate business developing a $1.2 billion mega-mall in the UAE; a liquid fuel logistics business; and companies specializing in customs digitization, remote infrastructure services, e-commerce enablement, digital logistics, and more. Agility invests in innovation, sustainability and resilience, and owns stakes in listed and non-listed companies that are reshaping logistics and transportation, energy, e-commerce, and other industries. For more information about Agility, visit: www.agility.com
About Keystone National Group
Keystone National Group, LLC is a leading private investment firm active in private credit lending/leasing and real estate investment. Keystone’s private credit group provides senior corporate loans, asset-based lending, equipment finance and real estate construction lending. Having completed over 500 direct transactions, Keystone provides capital solutions in a wide variety of industries to companies throughout the U.S. Keystone has offices in Salt Lake City, UT and Dallas, TX. For more information, please visit www.keystonenational.com.
Edelman
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CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer today announced that it has significantly expanded its global marina business with the completion of the previously announced acquisition of Island Global Yachting LLC (“IGY Marinas”), effective October 1, 2022.
IGY Marinas owns and operates a collection of iconic marina assets in key global yachting destinations. It distinguishes itself with a synergistic network of strategically positioned luxury marinas situated in the world’s most coveted yachting and sport-fishing destinations. IGY Marinas offers a global network of 23 irreplaceable marinas in the Americas, the Caribbean, and Europe, delivering year-round customer touchpoints catering to a wide variety of luxury yachts, while also being exclusive home ports for some of the world’s largest megayachts. The network of marinas is further bolstered by its exclusive Trident superyacht membership program, expansive service offerings, and comprehensive yacht management platform. IGY Marinas strategically expands MarineMax’s portfolio of marinas and creates cross-sell opportunities with its Fraser Yachts and Northrop & Johnson superyacht services businesses.
“We are excited to have completed the acquisition of IGY Marinas which is consistent with our strategic plan to grow our high-margin businesses, expand our product offerings, and increase our geographic reach,” said W. Brett McGill, Chief Executive Officer and President of MarineMax. “We extend a warm welcome to Tom Mukamal, CEO of IGY Marinas, and the IGY Marinas management team, who will continue to lead the growth and operations of the IGY business.”
MarineMax expects to provide additional financial information when the Company reports its fiscal 2022 results.
For more information on the IGY Marinas acquisition, please see the presentation in the Investor Relations section of our website found here: MarineMax's Acquisition of IGY Marinas
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts, and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 78 retail dealership locations, some of which include marinas. Collectively, with the IGY acquisition, MarineMax owns or operates 57 marinas worldwide. Through Fraser Yachts and Northrop & Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also owns Boatyard, an industry-leading customer experience digital product company. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Forward-Looking Statement
Certain statements in this press release may be forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the acquisition creating cross-selling opportunities, the acquisition being consistent with MarineMax's strategic plan to grow its high-margin businesses, expand its product offerings, and increase its geographic reach, and the post-closing management and growth of the IGY business. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions, and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2021 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Michael H. McLamb
Chief Financial Officer
727-531-1700
Media:
Katherine Cooper
MarineMax, Inc.
Investors:
Brad Cohen or Dawn Francfort
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--#offshorecranes--Thunder Cranes is pleased to announce it has launched operations in the Middle East and Africa. The offshore crane company had previously operated with a base in Dubai from 2009 to 2019 - now reopened - and in addition has just launched a new base of operations in Luanda to serve Angola and western Africa.
Dinesh Arumugam, CEO of Thunder Cranes, said, "As a market-leading provider of offshore rental cranes, Thunder Cranes is committed to helping customers in the Middle East and Africa with cost-effective and efficient lifting solutions to support offshore projects."
Arumugam continued, “The market outlook going into 2023 is excellent around these regions, and furthermore, we know that once given the opportunity to support offshore projects in new markets, clients will find Thunder Cranes invaluable from a performance and efficiency perspective.”
Since 1995, Thunder Cranes has been supplying its proprietary brand of API-compliant, portable-modular cranes which were developed in the USA. Today, Thunder Cranes is headquartered in Malaysia and operates globally, with bases in the UAE, Thailand, Malaysia, Brunei, and Angola.
Many of the older platforms are not equipped with sufficient crane capacity or coverage to support current projects, thus the need for temporary cranes that can be installed when required. Safe, efficient and cost-effective, the portable-modular crane has become an essential equipment used to facilitate a diverse range of offshore projects in well intervention, P&A, construction, crane changeouts and decommissioning.
In line with its vision to become a global leader in offshore lifting solutions, Thunder Cranes has focused on customer satisfaction through reliable, safe performance – a strategy that has resulted in consistently winning long-term service contracts with oil and gas companies in Malaysia, Thailand, Brunei and Dubai, as well as securing projects in China, Vietnam, Indonesia, and Angola.
In 2022 Thunder Cranes was awarded another long-term contract with an oil major in Thailand. Dinesh Arumugam said, “Thailand has been a core market for Thunder Cranes, and since our first contract there in 2007, we have worked regularly with Chevron, PTTEP and Mubadala. This latest award is a testament to our consistent performance and excellent safety record. We also recently secured a project in Angola to support crane changeout activities and in the next 6 months we will be bidding on contracts in several more countries including in the UAE, Brunei, Qatar, Turkmenistan, India, Vietnam and Indonesia."
Ywan Georges Carraz
Thunder Cranes
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+60128385716
Prestigious honor recognizes the regions fastest-growing privately-owned companies
DENVER--(BUSINESS WIRE)--Fluid Truck, the on-demand truck rental platform for businesses, is proud to announce that it has been named to the Denver Business Journal’s list of the fastest-growing private companies.
The Fast 50 List for 2022 recognizes the region's fastest-growing privately-owned companies in Denver based on revenue from 2019 to 2021.
Fluid Truck has additionally been named as a finalist in Colorado Inno’s fourth annual Inno Awards. The Inno Awards celebrate the most impactful and innovative organizations across the state that have had a banner year, people and companies with new funding, recent product launches, hot hires, innovative approaches to solving problems.
“Our commitment to driving success for our customers has been critical to our growth and success, and we look forward to deepening that commitment and accelerating our leadership in commercial mobility in 2023,” said Fluid Truck CoFounder and CEO James Eberhard.
The awards come on the heels of Fluid Truck’s inclusion in the Inc 5000 list of the “Fastest Growing Companies in America” last month.
To see the full list of finalists, visit https://www.bizjournals.com/denver/.
About Fluid Truck
Fluid Truck is an on-demand truck rental platform that offers 24/7 mobile access to a wide array of trucks, vans, and SUVs. Hundreds of small and medium-sized businesses across the U.S. use Fluid Truck to flexibly and affordably build their fleet, manage employee scheduling on-the-go, and safely operate with GPS tracking and roadside assistance. The company is headquartered in Denver, Colorado and backed by Bison Capital, Ingka Investments part of IKEA, Sumitomo Corporation of Americas, and Fluid Vehicle Investors. For more information and to get started, simply book online at www.fluidtruck.com and pick-up your vehicle from a convenient nearby location using the Fluid Truck App on the App Store and Google Play. #TruckYeah
Emily Allen
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BEKASI REGENCY, Indonesia--(BUSINESS WIRE)--#RAINRFID--SATO Group company PT. SATO Label Solutions (hereafter, SATO), together with local partner CV Dharmatech Indonesia, provided a RAIN RFID(1) tracking system for PT. Sigma Cipta Utama (hereafter, SCU) to streamline stocktaking and locating of documents stored in its warehouse.
For asset management traceability, time is of the essence in identifying where an item is located. Ideally, a simple click of the mouse would give a full view of inventory and traceability reporting. This is possible when done properly with automation solutions like RFID.
SCU is part of the Elnusa Group, a subsidiary of PT. Pertamina Hulu Energi and Upstream Subholding, which manage oil and gas production in Indonesia. It specializes in data management services that target its customers in the energy sector, handling assets that include physical media such as cartridges and magnetic tapes.
The solution SATO provided included RFID printers, tags, handheld and gateway readers, coupled with a customized software package. The tags are attached to cartons which hold the documents in their large-scale 19,600 m2 warehouse. The RFID system helps monitor new stock placed on shelves and old stock taken out, enabling visibility on whether an item was loaned out temporarily or removed permanently in real time using a dashboard view. With this info, the company can now see the full history of assets and make quick decisions about how to best manage its stock.
Before implementing the new system, SCU had previously used a barcode-based system to track its physical assets in the warehouse. As its business grew, the volume of assets increased, making the job of individually scanning each item increasingly tedious. With the implementation of RFID, SCU was able to locate assets faster than before, to provide a 50 percent time savings in each stocktaking task(2).
SCU also leases out its warehouse space to third parties, adding complexity to asset management in its facility. SATO’s RFID tags are encoded and applied to each asset for full visibility of all assets safe-kept throughout its warehouse.
“I appreciate the attention to detail that SATO provided to streamline our traceability system,” said Lalang Sugiri, Manager of Warehouse at PT. Sigma Cipta Utama. “Now our staff is able to track and locate each asset in our warehouse faster with accuracy and ease.”
“We are dedicated to helping customers like PT. Sigma Cipta Utama connect every ‘thing’ in their warehouse to connect it to the world,” said Hirotaka Wada, President and Director of PT. SATO Label Solutions and Executive Officer, SATO Holdings Corporation. “We want to help firms in key sectors implement RFID to streamline workflows and boost productivity and make better decisions.”
For more, contact us.
(1) RAIN, derived from "RAdio frequency IdentificatioN" uses the GS1 UHF Gen2 protocol which ISO/IEC has standardized as 18000-63.
(2) SATO survey, based on average time spent reading and locating individual items
*All company names here are properties or registered trademarks of their respective owners.
Sales inquiries:
Muhammad Fajar Fiqri
(+62) 21-280 802 70
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Media contact:
Kevin Leidheiser
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it will issue a press release containing its third quarter 2022 financial results after the Nasdaq closes on Tuesday, November 1, 2022. On Wednesday, November 2, 2022 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results.
The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Wednesday, November 9, 2022. To hear the replay, dial (412) 317-0088. The replay pass code is 2272611.
A live audio webcast of the conference call will also be available in a listen-only mode on the company's website, which is located at www.ta-petro.com. Participants who want to access the webcast should visit the company's website about five minutes before the call. The archived webcast will be available for replay on the company's website after the call.
About TravelCenters of America Inc.:
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 19,000 team members serve guests in over 275 locations in 44 states, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Stephen Colbert, Director, Investor Relations
(617) 796-8251
DUBLIN--(BUSINESS WIRE)--Gazelle Wind Power (Gazelle), the developer of a breakthrough floating offshore wind platform, has appointed Jason Wormald, former Global Head of Innovation of Bridon-Bekaert Ropes Group, as Chief Technology Officer to lead the company’s product design and engineering.
“In order to realize the full potential of offshore wind and drive down costs, we have taken a different approach to the platform design, and there is nobody better to drive this technological vision than Jason,” said Gazelle CEO Jon Salazar. “Jason is one of the foremost experts on wire moorings and his track record and hands-on experience delivering innovative mooring solutions for floating offshore wind projects, along with his strategic vision, makes him uniquely qualified to lead our technology team.”
At Bridon-Bekaert, Jason was Global Head of Innovation, leading the company’s advances in renewables, specifically in mooring solutions. During his tenure, he held senior technical positions overseeing a bespoke technology centre directing new product developments and leading advanced services.
Prior to this, he spent over 20 years in various senior technical roles across a range of industries, including for the oil and gas crane firm TSC Engineering, cleantech and switchgear company DeepStream Technologies, and for Pace Micro Technology.
“The company is driving the innovation necessary to enable the potential of the offshore wind sector, and I want to play my part in delivering a smart solution that can revolutionise clean energy,” commented Jason.
Over the past 12 months, Gazelle has aligned itself with several partners who have developed leading solutions in their own fields. These have included Ferrofab FZE, VCE, Bridon-Bekaert Ropes Group, and Maersk Supply Service. Gazelle also recently announced four new industry leaders to its board of directors.
Gazelle’s unique hybrid floating wind platform splits the ‘two classical functions’ of buoyancy and stability for a lighter and more agile platform than current market designs and boasts the advantage of faster deployment in deeper waters.
About Gazelle Wind Power
Gazelle Wind Power Limited is unlocking the massive deep-water offshore wind market to achieve global decarbonisation. The company’s durable, disruptive hybrid floating platform with a high stability attenuated pitch surmounts the current barriers of buoyancy and geographic limitations while reducing costs and preserving fragile marine environments. The company is based in Dublin and has a presence in Dubai, London, Madrid, Paris, and Texas. For more information, visit www.gazellewindpower.com.
For Gazelle Wind Power:
Wendy Prabhu | Mercom Communications
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VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF), is pleased to announce that construction on Phase 1 of the GrowTEC RNG Expansion Project is 80% complete and is tracking ahead of schedule.
GrowTEC is an operating biogas facility which focuses on sustainable agriculture through the conversion of organic waste to soil amendments and clean energy. Since acquiring a 67% interest and assuming operatorship of the Project earlier this year, EverGen has been successful to date in implementing the Project designed to upgrade existing biogas and power production to renewable natural gas (RNG). The Project is finalising construction of the injection infrastructure for tie-in into the local pipeline network and is anticipated to be ready to commission in the next month.
Once complete, Phase 1, is expected to produce 80,000 gigajoules of RNG annually, which is underpinned by a long-term offtake agreement with FortisBC. The Phase 2 expansion is expected to add an additional 60,000 gigajoules of RNG annually for a total of 140,000 gigajoules of RNG production annually from the Project.
“We are thrilled with the pace at which our team has delivered this project,” said Chase Edgelow, CEO of EverGen. “Phase 1 is tracking ahead of schedule and once commissioned, the project will further contribute to and strengthen our positive cash flow position.”
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns, and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
EverGen Investor Contact
Victoria Rutherford
480-625-5772
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THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) announced today that it has signed a binding Shipbuilding Contract (SBC) with Hyundai Heavy Industries Co., Ltd. (“HHI”) for a new floating regasification and storage unit (“FSRU”) to be delivered in June 2026. The FSRU will have a storage capacity of 170,000 m3 and a maximum regasification capacity of one billion standard cubic feet per day (1,000 MMscf/d).
The state-of-the-art FSRU will be equipped with HHI’s proprietary LNG regasification system, dual fuel engines, selective catalytic reduction system, best-in-class boil-off gas management, and other innovative technologies which will drive improved performance and efficiency while lowering emissions.
“This shipbuilding contract with HHI demonstrates our commitment to grow our FSRU fleet at a time when the world needs FSRUs and flexible LNG infrastructure the most,” said Steven Kobos, President and CEO of Excelerate. “Recent geopolitical events, including the energy crisis in Europe, have highlighted the essential role FSRUs play in providing energy security and serving as a complementary backstop to balance the intermittency of renewable energy. Upon delivery, this newbuild FSRU will enhance the capabilities of our existing fleet and support the execution of our integrated growth projects.”
With this newbuild order, Excelerate will have 11 FSRUs in operation or under construction, further strengthening its position as the world’s premier provider of flexible LNG services.
ABOUT EXCELERATE ENERGY:
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.
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JENBACH, Austria--(BUSINESS WIRE)--INNIO announced today that it has launched its next generation Jenbacher Type 3F engine. This forms part of INNIO’s commitment to empower the transition to net zero with flexible, scalable, and resilient energy solutions and services. The new and improved Jenbacher Type 3F engine offers customers proven robustness and reliability while delivering up to two percentage points of efficiency boost, the engine line’s highest efficiency ever. In addition to delivering efficiency as high as 43.3% when operating on pipeline gas, the Type 3F engine is optimized for reduced total hydrocarbon (THC) emissions, future-proofed fuel flexibility, and enhanced serviceability. Moreover, the latest 3F technology is offered with a “Ready for H2” option and retrofittable for most of the installed Type 3 fleet.
“INNIO’s innovative engine technology is engineered to help drive industries and communities to net zero power generation. INNIO’s hydrogen-ready Jenbacher 3F technology is the latest energy solution committed to a climate-neutral, greener and more secure energy future,” said Dr. Olaf Berlien, president and CEO of INNIO.
"We have been working with the Jenbacher Type 3 engines for over twenty years. Given our positive experience with the upgrade of the first engine to the new Jenbacher 3F generation model in 2020, it was an easy decision for us to implement this current upgrade. Thanks to the improved fuel usage of the Jenbacher 3F generation engine, we have been able to both increase our profitability and to reduce our environmental footprint,” commented Thomas Roth, head of power and engineering at Dominikust-Ringeisen-Werk and operator of one of the field test plants.
Building on the Jenbacher Type 3 more than 35 years of experience, more than 11,000 engines worldwide, and more than 130,000 operating hours, the new generation of the Jenbacher Type 3 brings numerous advantages to customers such as:
The Jenbacher Type 3F is available for applications in 50 Hz countries and will be available in 60 Hz countries in 2024.
About INNIO
INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.
INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 3,500 experts provides life-cycle support to the more than 54,000 delivered engines globally through a service network in more than 80 countries.
INNIO’s ESG Risk Rating places it number one of more than 500 worldwide companies in the machinery industry assessed by Sustainalytics.
For more information, visit INNIO’s website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
For further information:
Susanne Reichelt
INNIO
+43 664 80833 2382
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DUBLIN--(BUSINESS WIRE)--The "Marine Engines Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global marine engines market.
The global marine engines market is expected to grow from $8.76 billion in 2021 to $9.38 billion in 2022 at a compound annual growth rate (CAGR) of 7.06%. The marine engines market is expected to grow to $11.10 billion in 2026 at a compound annual growth rate (CAGR) of 4.32%.
Reasons to Purchase
Major players in the marine engines market are Cummins Inc, Caterpillar, Mitsubishi Heavy Industries Ltd, Volvo Penta, Yanmar Holdings Co Ltd, Wartsila, Hyundai Heavy Industries Co Ltd, Daihatsu Diesel Mfg Co Ltd, MAN Energy Solutions, Volkswagen Group, WinGD, Siemens Energy, Wabtec, Isotta Fraschini Motori, CNPC Jichai Power Company Limited, Bergen Engines, Rolls-Royce Holdings and Bergen Engines.
The marine engines market consists of sales of marine engines by entities (organizations, sole traders, partnerships) that refer to a heat engines used to transform heat energy into mechanical energy by burning fuel to propel a ship. It is installed or planned to be installed on a marine vessel. Marine engines are categorized as propulsion marine engine, propels or guides the movement of a ship through the sea, and auxiliary marine engine refers to a propulsion-less marine engine.
The main types of marine engines are diesel engine, gas turbine, natural engine, and other engine types. The gas turbine can convert natural gas or other liquid fuels to mechanical energy. These marine engines are used ships like oil tankers, bulk carriers, general cargo ships, and container ship. The fuel used to power the marine engines categorized as heavy fuel oil, intermediate fuel oil, marine diesel oil, marine gas oil, LNG, and other fuel types. The marine engines are categorized as four stroke, and two stroke with power ranging from up to 1,000 HP, 1,001-5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, and above 20,000 HP.
Asia Pacific was the largest region in the marine engines market in 2021. The regions covered in the marine engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The marine engines market research report is one of a series of new reports that provides marine engines market statistics, including marine engines industry global market size, regional shares, competitors with a marine engines market share, detailed marine engines market segments, market trends and opportunities, and any further data you may need to thrive in the marine engines industry. This marine engines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Growth in international marine freight transport is expected to drive the marine engine market. Marine freight transport refers to ships or cargo used to move goods from one location to another. Marine transport is cheaper and more feasible than railroad and air transportation for international transport.
According to an article published by World Economic Forum, in 2021, approximately 90% of the world's products were transported by water transport. Further, in the last 20 years, the average size of a container ship has doubled, with the most prominent ships capable of transporting 24,000 containers. Thus, an increase in international marine freight transport will increase the demand for marine engines.
Cloud-based technology to monitor marine engines is the key trend gaining popularity in the marine engines market. Cloud monitoring is a technique for examining, evaluating, and regulating the operational workflow of a cloud-based IT infrastructure. Increasing efforts toward expanding engine capacities have further led to the development initiatives for designing reliably advanced systems.
For instance, in April 2021, Cummins Inc. introduced PrevenTech Marine, an advanced remote monitoring solution for marine vessels. PrevenTech Marine monitors Cummins powered assets remotely, using connectivity, big data, advanced analytics, and IoT and boosts uptime, reduces maintenance costs, and improve the service experience.
In January 2022, Langley Holdings, a UK-based engineering and industrial manufacturing group, acquired Bergen Engines AS from Rolls-Royce, for $103 million (€91 million). Through this acquisition, Langley Holdings will accomplish its net-zero goals and long-term environmental objectives through the developing microgrid industry. Bergen Engines is a Norway-based company that manufactures gas and diesel engines for land based, commercial marine and naval.
The countries covered in the marine engines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
For more information about this report visit https://www.researchandmarkets.com/r/sbdrrw
ResearchAndMarkets.com
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As part of the agreement, thirteen Massachusetts municipalities will purchase renewable energy credits and clean energy produced by two of FirstLight’s hydroelectric facilities in Connecticut
BURLINGTON, Mass.--(BUSINESS WIRE)--FirstLight Power, a leading clean provider of renewable energy and energy storage resources, today announced the expansion of the company’s landmark municipal electric department purchase agreement with Energy New England (ENE). As part of the agreement, thirteen Massachusetts-based municipal public power entities have agreed to purchase over 110 gigawatt hours per year of hydroelectric power produced by two of FirstLight’s hydroelectric facilities in Connecticut. The industry-leading agreement will help participating communities continue to make progress toward meeting Massachusetts’ requirements for municipal utilities to obtain 50 percent of their supply from carbon-free sources by 2030 under the climate legislation passed into law and signed by Governor Baker in 2021.
“We are pleased to build on our successful collaboration with Energy New England by expanding our power purchase agreements with Massachusetts municipal utilities. These thirteen communities are showing tremendous climate leadership by choosing locally-produced, cost-competitive, and clean hydropower to advance their own clean energy goals,” said Alicia Barton, President and CEO of FirstLight Power. “Long-term clean power commitments such as these agreements not only bolster our region’s ability to decarbonize the electric grid, but they also lock in affordable energy supply for Massachusetts homes and businesses at a time when fossil fuel prices are driving customer bills up.”
Working in collaboration with ENE, the new power purchase agreement will run from 2024 through 2030. In addition, it expands on the successful partnership with ENE and power purchase agreement that FirstLight entered with 21 municipal utilities in 2020, which at the time represented the largest renewable energy purchase by municipal utilities in New England to date. In 2021, FirstLight extended many of these agreements with several participating utilities including Middleborough Gas and Electric Department (MGED) and Taunton Municipal Lighting Plant (TMLP).
“We are excited to expand our collaboration with FirstLight Power, and we are incredibly proud that our members continue to lead the way by aggressively procuring new sources of clean energy to meet Massachusetts’ 2030 requirements for municipal utilities,” said John Tzimorangas, President and CEO of Energy New England. “Not only have our members made major strides in meeting the state’s goals, they have also shown that these long-term procurements help deliver safe, reliable, and cost-competitive electricity to ratepayers across the Commonwealth.”
The public power entities participating in the contract include: Belmont Municipal Light Department, Braintree Electric Light Department, Concord Municipal Light Plant, Danvers Electric Division, Groveland Municipal Light Department, Hingham Municipal Lighting Plant, Mass Development Finance Agency (MDFA)/Devens Utilities, Merrimac Municipal Light Department, Norwood Municipal Light Department, Reading Municipal Light Department, Rowley Municipal Lighting Plant, Wellesley Municipal Light Plant, and Westfield Gas & Electric.
As part of the latest agreement with ENE, FirstLight’s Shepaug Generating Station (in Southbury, Conn) and Stevenson Generating Station (in Monroe, Conn) will supply the energy and renewable energy credits. One of the largest hydroelectric facilities in Connecticut, Stevenson Station was recently qualified as a Class I (in Maine) renewable energy facility. As Connecticut’s largest hydroelectric generation station and the second largest source of carbon-free electricity in the state, Shepaug Station is a Maine Class II renewable energy facility.
About FirstLight Power
FirstLight Power (FirstLight) is a leading clean power producer, developer, and energy storage company serving North America. With a diversified portfolio that includes over 1,400 megawatts of operating renewable energy and energy storage technologies, FirstLight specializes in hybrid solutions that pair hydroelectric, pumped-hydro storage, utility-scale solar, large-scale battery, and offshore wind assets. The company’s mission is to accelerate the decarbonization of the electric grid by supporting the development, operation, and integration of renewable energy and storage solutions to advance an electric system that is clean, reliable, affordable, and equitable. Based in Burlington, MA, with operating offices in Northfield, MA and New Milford, CT, FirstLight is a steward of more than 14,000 acres and hundreds of miles of shoreline along some of the most beautiful rivers and lakes in the Northeast. To learn more, visit www.firstlightpower.com or follow us on LinkedIn or Twitter.
About Energy New England (ENE)
ENE is the largest wholesale risk management and energy trading organization serving the needs of municipal utilities in New England. ENE works with numerous businesses, residents, and utilities to help promote the principles of conservation, efficiency, and environmental stewardship, and advances the many benefits available through integrated sustainability planning – including home energy audit programs, electric vehicle programs, wholesale energy procurement and risk management programs, regulatory and lobbying services. www.ene.org.
Media:
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NEW ORLEANS--(BUSINESS WIRE)--#energy--NuQuest Energy LLC, a Louisiana-based utility-scale solar development company, has had six of its projects totaling 1.0 Gigawatt submitted to the MISO queue for evaluation.
The six utility-scale solar projects advanced to the MISO queue, and exceeded their strategy to build a 1 Gigawatt portfolio in three years.
“We’re excited to have our first portfolio of utility-scale projects advanced to the MISO queue,” said Alex Guitart, NuQuest Co-Founder. “In just fifteen months, we have demonstrated our ability to assemble a 1 Gigawatt portfolio and are on track for originating the next Gigawatt of high-quality sites.”
Mr. Guitart is joined by industry executives Kirk Barrell, Founder, Amelia Resources LLC and Barrell Energy Inc., Bob Rosamond, Co-Founder & Partner, Audubon Companies, LLC, and Denis Taylor, Co-Founder & Partner, Audubon Companies, LLC. Together, the four NuQuest co-founders have accumulated more than 120 years of experience in the energy sector. Building on each partner’s industry expertise and strong relationships in the community, the team has rapidly identified, secured, and marketed an advanced portfolio of solar projects.
“We’ve rapidly scaled a high-quality portfolio of projects utilizing our technologically-driven approach with our proprietary system called TerraVolt,” said Kirk Barrell. “The combination of technology and strong historical relationships in the community have enabled us to construct a project portfolio two years faster than planned.”
The company is currently focused on utility-scale solar development across Louisiana, Mississippi, Texas, and Arkansas. Due to the rapid growth, the company has plans to significantly expand their development and land teams. Leveraging 120 years of energy and technology experience allows the company to quickly identify high-quality sites in targeted marketplaces. The company believes in strong partnerships with third parties where alignment creates strong results with excellent financial outcomes for all parties.
About NuQuest Energy, LLC
NuQuest Energy, LLC is a solar development company pursuing an aggressive plan to assemble and construct a diverse portfolio of utility, industrial, and corporate projects across the United States with a current focus on Louisiana, Texas, Arkansas, and Mississippi. The company leverages existing relationships and project development experience to build a robust, scalable renewables portfolio.
CAUTIONARY STATEMENT: This press release contains certain forward-looking statements regarding renewable energy, development and operation activities, anticipated and potential developments and the economic potential of properties. Accuracy of these forward-looking statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. NuQuest Energy LLC cautions readers that it assumes no obligation to update or publicly release any revisions to the forward-looking statements in this press release and, except to the extent required by applicable law, does not intend to update or otherwise revise these statements more frequently than quarterly. Important factors that might cause future results to differ from these forward-looking statements include adverse conditions such as variations in the market prices of renewable energy, environmental laws and situations, solar and wind accessibility, the ability to satisfy future cash obligations and environmental costs, and other general development risks and hazards.
Alex Guitart
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504-628-7727
NuQuest Energy, LLC
Agreement Represents Fourth Task Order Under $19.5 Million IDIQ Contract
FAIRFAX, Va.--(BUSINESS WIRE)--$ITI #FHWA--Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has received a fourth task order with funding of $2.95 million under its indefinite delivery/indefinite quantity (IDIQ) contract from the Federal Highway Administration (FHWA) to provide continued development, evolution and deployment support for the Intelligent Transportation Systems (ITS) reference architecture program.
The new task order agreement, which is part of a five-year IDIQ contract with a contract ceiling of up to $19.5 million, will continue to support the evolution of the Architecture Reference for Cooperative and Intelligent Transportation (ARC-IT) content to reflect changes in ITS, and connected and automated vehicle (CAV) developments. The program supports statewide and regional ITS planning and deployment to encourage interoperability and CAV preparedness through workshops, training and technical assistance. An important aspect of the program is alignment with and support for standards development activities, as well as international coordination of ITS architecture, and standards concepts and approaches.
“Iteris is honored to continue our activities in support of the US Department of Transportation’s efforts to improve safety and mobility with this new task order under the ITS architecture program,” said Cliff Heise, program manager for the ITS reference architecture program, and regional vice president at Iteris. “Iteris is privileged to have had the opportunity to lead the development and evolution of the U.S. ITS architecture reference over the past three decades, including the evolution of connected and automated vehicle capabilities, and support for evolving ITS and CAV standards.”
The ITS architecture enables transportation stakeholders to see the linkages between their ITS and CAV technologies, and facilitates integration and interoperability discussions as they plan and implement ITS and CAV projects.
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, the new task order agreement and our mobility consulting services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to successfully perform the services on a cost effective basis; agency funding and budgetary allocations and constraints; utilization needs of the agency for the services subject to the contract (e.g., seasonality); impact of adverse influences and variances of general economic, political, environmental, and other conditions; performance timing and cancellation of task orders; and the potential impact of product and service offerings from competitors. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
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MKR Investor Relations, Inc.
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The carbon capture and sequestration facility will capture 95 percent of emissions from a Nebraska ethanol production facility and permanently store the CO₂ underground
ARVADA, Colo. & BRIDGEPORT, Neb.--(BUSINESS WIRE)--Carbon America, the first vertically integrated carbon capture and sequestration (CCS) super developer, announced today an agreement with Bridgeport Ethanol, LLC to develop a carbon capture and storage project in Nebraska. The project will capture and store approximately 175,000 tons of carbon dioxide (CO₂) per year, equivalent to 95 percent of total emissions from the ethanol facility’s fermentation process. This is the first commercial project of its kind in the state of Nebraska.
“We look forward to permanently removing 175,000 tons of carbon dioxide annually from the Bridgeport Ethanol plant, equivalent to taking 38,043 passenger vehicles off the road. And with new federal funding for carbon capture and sequestration projects – through the Inflation Reduction Act – carbon removal projects will play an even larger role helping the United States achieve our emission reduction goals,” said Brent Lewis, CEO and Co-Founder of Carbon America. “The Bridgeport carbon capture and storage project will safely divert CO₂ to a secure underground facility, benefiting local communities and the environment.”
This is Carbon America’s third agreement this year to finance, build, own and operate CCS systems at ethanol facilities. As the second largest ethanol-producing state in the U.S., this project marks an important milestone for the Nebraska ethanol industry. The project will enable Bridgeport Ethanol, LLC to reduce the carbon intensity of ethanol production, and increase their competitiveness in the market.
“Bridgeport Ethanol is pleased to be a leader in producing low carbon ethanol,” said Dave Kramer, President and Founding Member of Bridgeport Ethanol, LLC. “We look forward to working with Carbon America to reduce our carbon emissions at the Bridgeport ethanol plant. Carbon capture and storage increases the value of Bridgeport ethanol in the marketplace. Our ethanol and distillers grains are important contributors to our local farming and cattle business economics and we are constantly looking for ways to improve our products and their competitiveness.”
Carbon America plans to install carbon capture equipment that will extract CO₂ from the ethanol production process and transfer the gas via a new carbon dioxide pipeline to an underground geologic sequestration site near the plant. The sequestration site is rigorously designed to comply with Federal Class VI and California Air Resource Board Low Carbon Fuel Standard Permanency requirements.
“Biofuels have a vital role in providing a secure and environmentally friendly domestic supply of energy. Adding carbon capture and sequestration into the process of producing ethanol brings value to Nebraska. Capture and sequestration of carbon enhances the environmental benefits of ethanol by reducing the carbon footprint of liquid fueled vehicles,” said Steve Wellman, Director of the Nebraska Department of Agriculture. “This project will further ensure ethanol saves drivers money at the pump, cleans up our environment, and creates opportunities for our farmers and ranchers.”
Carbon America is working closely with the U.S. Environmental Protection Agency and multiple Nebraska regulatory agencies to ensure the project meets all environmental regulations. Carbon America expects the first injection to begin in 2024.
“This carbon capture and sequestration project, and others like it, is another example of the innovation and growth the ethanol industry brings to our state,” said Anthony Goins, Director of the Nebraska Department of Economic Development. “Nebraska ethanol facilities produce over 2.2 billion gallons of ethanol annually. According to a recent University of Nebraska – Lincoln study ethanol production delivers more than $4.04 billion of ethanol and co-products and an overall impact to our economy of over $4.5 billion. The economic development created by ethanol production creates jobs in rural Nebraska and is a primary driver to growing Nebraska.”
“Carbon America’s carbon capture and sequestration facility for the Bridgeport Ethanol plant is the first project of its kind planned in Nebraska that we believe will support our state’s vibrant ethanol and agriculture industries,” said Dawn Caldwell, Executive Director of Renewable Fuels Nebraska. “Expanding carbon capture and sequestration in Nebraska will help our farmers and ethanol producers participate in the growing market for low-carbon plant-based fuels, while also benefiting the environment.”
Please send comments and questions about the projects to Carbon America at https://www.carbonamerica.com/contact-us.
About Carbon America
Carbon America is a vertically integrated super developer of carbon capture and sequestration (CCS) projects with a mission to accelerate deployment for wide-scale climate change mitigation. For more information, visit www.carbonamerica.com/.
About Bridgeport Ethanol LLC
Bridgeport Ethanol, LLC is owned by local investors that include farmers, ranchers and business people that primarily reside in Nebraska and Colorado. We produce low carbon-intensity ethanol for mixing with gasoline from locally grown corn and supply nutritious distiller’s grains to local animal feed operations. For more information visit http://www.bridgeportethanol.com/.
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Carbon America
Cassandra Sweet
Antenna Group for Carbon America
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Bridgeport Ethanol LLC
Dave Kramer
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Companies team up to develop magnet-free electric motors for battery and hydrogen-powered commercial tuggers at airports and manufacturing plants
HAMILTON, Ontario--(BUSINESS WIRE)--Enedym, Inc. (“Enedym”), the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, today announced a strategic collaboration with Toyota Tsusho Canada, Inc. (“Toyota Tsusho”), a Toyota group company and general trading arm of Toyota Motor.
Through the collaboration, Enedym will design and develop SRMs and inverters with rated nominal power of approximately 45kW for use in North America and Japan. The magnet-free electric motors will convert small commercial vehicles, or tuggers, commonly used at airports and manufacturing plants, from diesel fuel to battery or hydrogen power.
Through Enedym’s advanced SRM motor technologies, the refitted tuggers will reduce carbon output and lower costs, while maintaining exceptional performance.
The collaboration’s first output, an electric-powered commercial tugger, will be piloted at one of Toyota Tsusho’s affiliates located at one of Toyota Motor’s North American manufacturing plants in 2023.
“This collaboration marks a transformation in the design and use of airport and industrial tuggers that traditionally run on diesel fuel,” said Dr. Ali Emadi, Founder, President, and CEO of Enedym. “We are excited to join forces with Toyota Tsusho to be on the forefront of converting these diesel-powered vehicles into electric vehicles using Enedym’s patented SRM motor technologies.”
“We are pleased to work with the Enedym team to power a new generation of commercial tuggers,” said Grant Town, President, Toyota Tsusho Canada. “Together, we are aiming to accelerate electrification in industrial vehicles by creating solutions that are environmentally sustainable and cost-effective, and still deliver quality results.”
Enedym’s innovative SRM motor technologies remove the need for rare earth metals, thereby reducing costs by approximately 40%, improving supply chain stability, and supporting global environmental goals. “As we meet with strategic investors for our upcoming funding round,” Emadi added, “we are encouraged by the excitement around Enedym’s role in helping to fulfill global environmental goals to reduce emissions and improve air quality, while adding real business value through technology.”
About Enedym Inc.
Enedym is a technology start-up company from McMaster University. The company is headquartered at the McMaster Innovation Park in Hamilton, Ontario, Canada. Enedym has ownership of over 60 patents and pending patent applications and related inventions developed by the Canada Excellence Research Chair in Hybrid Powertrain Dr. Ali Emadi and his research group at the McMaster Automotive Resource Centre (MARC), McMaster University. Enedym’s vision is to significantly reduce the cost of electric motors and electrified powertrains, and power a new paradigm in electrification through novel electric motor drive technologies, controls, and digitization techniques. Enedym aspires to help save the planet, one electric motor market at a time. To learn more about Enedym, please visit www.enedym.com.
About Toyota Tsusho Canada, Inc.
Toyota Tsusho Canada, Inc. is a wholly-owned subsidiary of Toyota Tsusho America, Inc. With 60+ years in America, Toyota Tsusho America, Inc., together with its subsidiaries and affiliates, is a multi-market, multi-business enterprise with expertise in exporting and importing, supply chain management, new manufacturing, intermediate goods processing and logistics in the United States, Canada, Mexico, and the Caribbean. The company strives for comprehensive excellence by cultivating a vibrant culture of creativity, reliability, accountability, flexibility, and teamwork to activate the full potential of its employees, customers, suppliers, and communities. To learn more, visit www.taiamerica.com.
Media:
Kent Place Communications
Melissa Sheer
917-690-2199
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