PITTSBURGH--(BUSINESS WIRE)--Governments must deliberately use public investment and regulation to rapidly scale-up clean energy technologies to bring down costs, achieve global climate goals and boost economies worldwide, according to a new report launched today by leading international economists and energy policy experts.
Ten Principles for Policymaking in the Energy Transition: Lessons from experience calls for governments to urgently reshape their policy approaches to accelerate innovation, job-creation, and cost reduction in the transition from fossil fuels to clean energy.
The report, based on a comprehensive analysis of the last three decades of global energy policy, shows that to replicate the outstanding successes of the energy transition so far, such as offshore wind and solar PV, governments must go beyond just providing a ‘level playing field’ where technologies are left to compete against each other. In fact, they should proactively use the three levers of policy: investment, tax and regulation, to accelerate innovation and cost reduction in clean technologies. The report recommends that governments should also target ‘tipping points’, where clean technologies gain an advantage over fossil fuels, leading to a rapid reallocation of investment.
Contrary to some of the advice given to governments over the past 30 years, government policy, investment and regulation can cut energy costs instead of increasing them, crowd in private investment instead of crowding it out, and accelerate innovation and growth. The successes of onshore wind, offshore wind, solar PV and electric vehicles were driven by governments directly identifying and supporting the technologies that they needed to succeed.
Laura Diaz Anadon, Professor of Climate Change Policy at the University of Cambridge, one of the lead authors, said: “Governments cannot simply set the goal and expect the market to deliver. They must be active participants; investing and regulating to bring down costs and making strategic technology choices to incentivise, de-risk and focus the private sector. Doing so in an adaptive fashion can deliver a transition to clean energy that is faster, cheaper and more sustainable for all.”
Investment into clean energy sectors, including power generation, electricity grids, road transport, steelmaking and hydrogen, could support 65 million jobs and $26 trillion of benefits by 2030.i The report shows how government interventions can create technology tipping points, which in turn unlock competitiveness, investment and the lowest cost decarbonisation – achieving a faster energy transition and lowering bills for consumers.
[ENDS]
Notes to editors
About the Economics of Energy Innovation and System Transition (EEIST) Project
Economics of Energy Innovation and System Transition (EEIST) is a three year project led by a consortium of academic experts in complexity economics and systems thinking across the UK, EU, Brazil, China, and India. The project aims to apply new economic approaches to support decarbonisation policy decision making in partner countries. The EEIST research is independent and does not represent the views of the UK government or governments of the partner countries and the EU.
i New Climate Economy https://newclimateeconomy.report/2018/wp-content/uploads/sites/6/2019/04/NCE_2018Report_Full_FINAL.pdf
Max Boon, Greenhouse Communications
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This news release constitutes a “designated news release” for the purposes of Emera’s prospectus supplement dated August 12, 2021 to its short form base shelf prospectus dated August 5, 2021.
HALIFAX, Nova Scotia--(BUSINESS WIRE)--On September 22, 2022 the Board of Directors of Emera Inc. (TSX: EMA) approved an increase in the annual common share dividend to $2.76 from $2.65 per common share and extended its dividend growth rate target of four to five per cent through 2025.
“Our strategy remains focused on executing on our clean energy commitments that will deliver value for our customers and in doing so will create value for our shareholders.” said Scott Balfour, President and CEO of Emera Inc. “Today’s dividend increase and the extension of our dividend growth guidance of four to five percent through 2025 reflect the confidence we have in our portfolio of high-quality regulated utilities and their ability to drive earnings and cash flow growth.”
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Business Risks and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR at www.sedar.com.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $36 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Emera Inc.
Investor Relations
Dave Bezanson, VP, Investor Relations & Pensions
902-474-2126
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Arianne Amirkhalkhali, Manager, Investor Relations
902-425-8130
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Media
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Despite Continued Low BTC Price Environment and Energy Market Volatility, Soluna Continues to Deliver Healthy Results and Remains Focused on Energizing Dorothy
ALBANY, N.Y.--(BUSINESS WIRE)--Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced the release of its August site level financials.
Michael Toporek, CEO of Soluna Holdings, stated, “Soluna continues to deliver healthy hashrate and margins despite low BTC prices and energy market volatility. Near term, we are focused on energizing the first 50MW of our next generation Dorothy Facility as it gets Soluna to scale. Our development pipeline continues to grow as renewable power producers continue to see computing power as their preferred curtailment solution.”
Key Summary Highlights:
Revenue & Contribution Margin Summary: |
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| *all numbers below exclude legacy hosting | ||||||||
| **August & July Adj. Cash Contribution Margins Normalized to June FCA costs - See pg. 21 of presentation for details | ||||||||
| **Excluding FCA cost adjustment July Cash Contribution Margin was $413 | ||||||||
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(Estimate) |
(Estimate) |
FY 21 |
Q1 2022 |
April 2022 |
May 2022 |
June 2022 |
Q2 2022 |
July 2022 |
August 2022 |
|
| Revenue | $13,010 |
$9,264 |
$3,392 |
$3,004 |
$2,280 |
$8,676 |
$2,254 |
$2,447 |
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| Cash Contribution Margin | $8,888 |
$5,206 |
$2,605 |
$1,600 |
$800 |
$5,005 |
$433 |
$413 |
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| Cash Contribution Margin (Normalized Power Costs) | $8,888 |
$5,206 |
$2,605 |
$1,600 |
$800 |
$5,005 |
$756 |
$877 |
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| Annualized Revenue | $13,010 |
$37,056 |
$40,705 |
$36,044 |
$27,362 |
$34,704 |
$27,043 |
$29,361 |
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| Annualized Contribution Margin | $8,888 |
$20,824 |
$31,262 |
$19,196 |
$9,599 |
$20,019 |
$9,076 |
$10,525 |
Note: Represents non-GAAP financial metrics. |
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A presentation and corresponding video is available on the Company’s website at: https://www.solunacomputing.com/investors/updates/august2022flash/
About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’
For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.
Philip F. Patman, Jr.
Chief Financial Officer
Soluna Holdings, Inc.
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+713 906 5705
MZ Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
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+561 489 5315
DALLAS--(BUSINESS WIRE)--HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) and Holly Energy Partners, L.P. (NYSE: HEP) (“HEP”), plan to announce results for the quarter ending September 30, 2022 on November 7, 2022, before the opening of trading on the NYSE. HF Sinclair and HEP have scheduled a joint webcast conference on November 7, 2022 at 8:30 a.m. Eastern time to discuss financial results.
This webcast may be accessed at:
https://events.q4inc.com/attendee/908108663
An audio archive of this webcast will be available using the above noted link through November 21, 2022.
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 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 two of its facilities in Wyoming and also at its facility in Artesia, 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.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
HF Sinclair Corporation
Craig Biery, 214-954-6510
Vice President, Investor Relations
or
Trey Schonter, 214-954-6510
Manager, Investor Relations
HOUSTON--(BUSINESS WIRE)--It is with great sadness that Magnolia Oil & Gas Corporation (“Magnolia” or the “Company”) (NYSE: MGY) mourns the passing of former Chairman, President and Chief Executive Officer, Stephen Chazen.
On behalf of the entire Magnolia team, Chris Stavros, President and Chief Executive Officer, said, “We are greatly saddened by Steve’s passing, and extend our thoughts and sympathies to his family. As Magnolia’s founder, Steve has left an indelible mark on the Company, the oil and gas industry and the greater Houston community. Professionally, Steve had a profound impact on how E&P companies are managed with an objective of creating long-lasting shareholder value. He was the type of businessman who didn’t follow trends, but rather established trends. Steve always had a great affinity for investors and enjoyed interacting with them.
Steve’s significant professional accomplishments are exceeded only by his humanitarianism and philanthropic generosity that has touched the lives of countless individuals. He spent much of his non-business-related time focusing on areas he cared deeply for including education, health care and the environment. As much as Steve was a wonderful leader, he was an even greater person.”
Mr. Chazen served on the University of Houston System Board of Regents, as a director of the Houston Methodist Institute for Academic Medicine, on the Advisory Board at Rice University’s Baker Institute for Public Policy and the U.S. National Park Foundation. He is a former Chairman of the Board of the American Petroleum Institute and the Catalina Island Conservancy. Most recently, he served as Chairman of the Board of Occidental Petroleum Corporation.
Investors
Brian Corales
(713) 842-9036
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Media
Art Pike
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a significant(1) engineering, procurement, construction and installation (EPCI) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) for the Jackdaw development, located in the United Kingdom North Sea.
The contract covers pipelay for a 30 kilometer tieback from the new Jackdaw platform to Shell’s Shearwater platform, as well as an associated riser, spoolpieces, subsea structures, and umbilicals.
The tieback will use pipe-in-pipe technology, which is designed for high pressure, high temperature use.
Jonathan Landes, President, Subsea at TechnipFMC, commented, “We’re excited to embark on this significant project together in the UK North Sea. Our strong technical record and our ability to design, engineer, construct and install were key to our success in winning this award.”
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.
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 “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
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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DUBLIN--(BUSINESS WIRE)--The "Autonomous Marine Vehicles Global Market Opportunities And Strategies To 2031: COVID-19 Impact And Recovery" report has been added to ResearchAndMarkets.com's offering.
The autonomous marine vehicles market reached a value of nearly $1,994.3 million in 2021, having grown at a compound annual growth rate (CAGR) of 14.2% since 2016. The market is expected to grow from $1,994.3 million in 2021 to $4,148.0 million in 2026 at a rate of 15.8%. The market is then expected to grow at a CAGR of 16.8% from 2026 and reach $9,021.5 million in 2031.
Growth in the historic period resulted from increasing military expenditure, low interest rates, strong economic growth in emerging markets and a rise in oceanographic surveys.
Going forward, the increasing focus towards unmanned platforms, labor shortage, increasing demand from offshore sector and faster economic growth will drive the growth. Factors that could hinder the growth of the autonomous marine vehicles market in the future include stringent regulations, cyber-attacks and low funding and budgets.
The autonomous marine vehicles market is segmented by type into surface vehicle and underwater vehicle. The underwater vehicle market was the largest segment of the autonomous marine vehicles market segmented by type, accounting for 69.7% of the total in 2021. Going forward, the underwater vehicle market is expected to be the fastest growing segment in the autonomous marine vehicles market segmented by type, at a CAGR of 17.1% during 2021-2026.
The autonomous marine vehicles market is segmented by application into military and defense, archeological, exploration, oil and gas, environmental protection and monitoring, search and salvage operations, and oceanography. The military and defense market was the largest segment of the autonomous marine vehicles market segmented by application, accounting for 32.7% of the total in 2021. Going forward, the military and defense market is expected to be the fastest growing segment in the autonomous marine vehicles market segmented by application, at a CAGR of 16.0% during 2021-2026.
The autonomous marine vehicles market is segmented by technology into imaging, navigation, communication, and collision avoidance. The collision avoidance market was the largest segment of the autonomous marine vehicles market segmented by technology, accounting for 24.1% of the total in 2021. Going forward, the navigation market is expected to be the fastest growing segment in the autonomous marine vehicles market segmented by technology, at a CAGR of 17.6% during 2021-2026.
Asia Pacific was the largest region in the autonomous marine vehicles market, accounting for 42.9% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the autonomous marine vehicles market will be Africa, and, Middle East where growth will be at CAGRs of 20.4% and 19.0% respectively. These will be followed by Asia Pacific, and Eastern Europe, where the markets are expected to grow at CAGRs of 17.2% and 16.0% respectively.
Like most industries, the marine sector was impacted by the stringent rules put in place because of the COVID-19 pandemic. With maritime being a key backbone of the global economy, the growth of the economy was restricted. As per the International Maritime Organization (IMO), in December 2020, an estimated 400,000 seafarers remained onboard commercial vessels, unable to be repatriated and past the expiration of their contracts. Furthermore, various ports were forced to shut due to quarantine periods, leading to lesser demand for cargo. Rising disputes were seen in laytime settlement between owners and charters, and many smaller companies engaged in the maritime and shipping industry had to file bankruptcy due to the fall in demand and their inability to remain solvent in this situation.
The global autonomous marine vehicles market is highly concentrated, and the market has limited number of players. The top ten competitors in the market made up to 83.91% of the total market in 2020. This can be due to high entry barriers along with high research and development costs associated with product development, licensing and commercialization. General Dynamics (Bluefin Robotics) was the largest competitor with 17.17% share of the market, followed by L3Harris Technologies, Inc with 16.66%, Kongsberg with 12.08%, BAE Systems with 12.01%, Saab AB with 5.99%, Huntington Ingalls Industries with 5.72%, Rafael Advanced Defense Systems Ltd., with 5.08%, Teledyne Technologies, Inc with 4.39%, Atlas Elektronik with 2.57% and Textron Inc. with 2.24%.
The top opportunities in the autonomous marine vehicles market segmented by type will arise in the underwater vehicle segment, which will gain $1,667.1 million of global annual sales by 2026. The top opportunities in segment by application will arise in the military and defense segment, which will gain $717.3 million of global annual sales by 2026. The top opportunities in segment by technology will arise in the communication segment, which will gain $517.1 million of global annual sales by 2026. The autonomous marine vehicles market size will gain the most in China at $632.7 million.
Market-trend-based strategies for the autonomous marine vehicles market include adopting artificial intelligence in products due to their versatility and wide array of features, adopting the use of 3D printing to manufacture light, customizable and inexpensive components, offer autonomous vehicle fleet to the oil and gas industry, adopt recent technological advancements in the sector, focus on strategic alliances for the expansion of distribution and focus on improving battery capacity and efficiency for enhancing mission durations.
Player-adopted strategies in the autonomous marine vehicles market include expanding maritime operations through building new facilities, focus on new product design and developments for military applications, increasing product reach through strategic collaborations and partnerships and expanding business through strategic acquisition of companies with similar business.
To take advantage of the opportunities, the publisher recommends the autonomous marine vehicles companies to focus on utilizing artificial intelligence (AI) in autonomous marine vehicles, utilize 3D printing technologies in autonomous marine vehicles, focus on advancements in batteries, set up authorized distributors and sales representatives, expand in developed markets, outsource activities to low-cost countries to save costs, consider offering innovative features at skimmed prices, offer premium pricing for new and innovative autonomous marine vehicles, leverage social media use to maximize reach, focus on direct marketing, participate in trade shows and events, focus on post purchase services and focus on targeting military and defense customers.
Autonomous Marine Vehicles Market Trends And Strategies
Key Mergers And Acquisitions In The Autonomous Marine Vehicles Market
Autonomous Marine Vehicles Market Competitive Landscape And Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/60d5tk
ResearchAndMarkets.com
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DALLAS--(BUSINESS WIRE)--HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) and Holly Energy Partners, L.P. (NYSE: HEP) (“HEP”), plan to announce results for the quarter ending September 30, 2022 on November 7, 2022, before the opening of trading on the NYSE. HF Sinclair and HEP have scheduled a joint webcast conference on November 7, 2022 at 8:30 a.m. Eastern time to discuss financial results.
This webcast may be accessed at:
https://events.q4inc.com/attendee/908108663
An audio archive of this webcast will be available using the above noted link through November 21, 2022.
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 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 two of its facilities in Wyoming and also at its facility in Artesia, 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.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
HF Sinclair Corporation
Craig Biery, 214-954-6510
Vice President, Investor Relations
or
Trey Schonter, 214-954-6510
Manager, Investor Relations
PITTSBURGH--(BUSINESS WIRE)--Intelligent power management company Eaton has endorsed the global Memorandum of Understanding (MOU) on Zero-Emission Medium- and Heavy-Duty Vehicles (MHDVs), which was announced today during the Global Clean Energy Action Forum in Pittsburgh. The initiative is propelled by CALSTART and calls for 30% of new MHDVs to be emissions free by 2030, and 100% of new MHDV trucks to be emissions free by 2040.
“We are joining this call to action accelerating a low-carbon future, which reflects our vision and the way we’re working with our global customers to help them achieve their decarbonization targets,” said Brian Brickhouse, president of Eaton’s Electrical Sector, Americas region. “At Eaton, we’re working to expand electrification and modernize energy systems everywhere to support the energy transition. Today, I’m participating in the Global Clean Energy Action Forum to spotlight the actions reducing global reliance on fossil fuels and emphasize the strategies helping decarbonize communities in Pittsburgh and around the world.”
As part of the agreement, Eaton pledges to work with its industry partners to overcome strategic, political and technical barriers; accelerate zero-emission vehicle production and deployment; and increase investment and economies of scale to make the transition faster and more cost effective.
Eaton has defined, science-based carbon reduction targets that focus both on reducing emissions in its facilities around the globe and innovating solutions that drive sustainable growth by more efficiently using the world's resources. The company is committed to reducing its global environmental footprint through initiatives such as the Zero-Waste-To-Landfill and Zero-Water-Discharge programs, the adoption of onsite renewables, and by using more connected, digital tools to prevent waste across our manufacturing ecosystem.
The U.S. is hosting the Global Clean Energy Action Forum in Pittsburgh for governments, international organizations, the private sector, academia and more. The three-day event includes energy and science ministers from 31 countries, CEOs and experts.
Eaton’s electrical solutions form the backbone of safe, reliable electricity supply and play a key role in global infrastructure and the energy transition. This includes streamlining electric vehicle charging infrastructure deployments, helping utilities accelerate renewable integration and modernize the grid, supporting always-on power in data centers, creating more flexible power systems to expand healthcare capacity, helping homeowners manage their energy needs and delivering essential solutions for intelligent electrical power management across industries.
Eaton’s vehicle and eMobility solutions provide on- and off-highway vehicle manufacturers worldwide with sustainable technologies that enhance vehicle efficiency, safety and performance. The company’s vehicle products include variable valve actuation systems, exhaust gas recirculation systems, exhaust thermal management systems, and automated transmission and clutch systems. Eaton’s eMobility portfolio includes intelligent power electronics, reliable power distribution and protection solutions, and efficient ePowertrain technologies for electrified vehicles. Learn more about Eaton’s Vehicle Group and eMobility businesses.
Learn more about how Eaton is accelerating the energy transition.
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. Eaton is guided by its commitment to do business right, operate sustainably, and help its customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, Eaton is accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for its stakeholders and all of society.
Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.
Hilary Spittle This email address is being protected from spambots. You need JavaScript enabled to view it. +1 (216) 712-2005
Regina Parundik, +1 (412) 559-1614
Blue Hour 3: The Warehouse will feature world-renowned artists David LaChapelle and Taiji Terasaki in collaboration with Parley for the Oceans, along with local artists as they blend art with ocean conservation in a visual journey at AltaSea’s expansive waterfront campus.
LOS ANGELES--(BUSINESS WIRE)--AltaSea at the Port of Los Angeles is proud to announce its third annual Blue Hour, an event that connects science, culture, and community by combining art and technology to tell the story of the emerging blue economy. Blue Hour 3: The Warehouse will be a multi-part visual experience, with various art installations created by established and emerging local artists along with an award ceremony. Headlining the fundraiser will be famed oceanographer and explorer Sylvia Earle, who has logged over 7,000 hours underwater, as she accepts the Explorer Award. The event will take place at AltaSea’s campus at the Port of Los Angeles on October 8, with doors opening at 5 PM and the awards ceremony starting at 7 PM. Tickets to the event are on sale now. More information and tickets can be found here: https://altasea-project-blue.org/the-blue-hour-2022/.
AltaSea, together with Visionary title sponsors Air Products, City National Bank, Toyota, and Vopak, will showcase artists and organizations that explore some of the same issues that the scientists and researchers based at AltaSea explore every day in their labs at AltaSea. The annual fundraiser helps fund Project Blue education programs that educate the next generation of ocean explorers and innovators.
“The blue economy is a major feature of Los Angeles’ economy, so it’s important to showcase its crucial work alongside art – one of LA’s biggest economic industries,” said AltaSea President & CEO Terry Tamminen. “The evening will amplify and promote the benefits of a healthy ocean and the growing blue economy, as well as help educate the next generation on ocean exploration and conservation through the powerful medium of art. We could not be more pleased to be able to honor one of the most legendary oceanographers of all time, Sylvia Earle, whose career has paved the way for generations of ocean explorers.”
Often called “Her Deepness” for the record number of hours she spent exploring underwater, Sylvia Earle’s career has pioneered research on marine ecosystems through her exploration and the development of technologies for accessing the deep sea and other remote environments. Earle is a former chief scientist for the National Oceanic and Atmospheric Administration, the first female to hold that position. Earle’s accomplishments include being named Time Magazine’s inaugural “Hero for the Planet,” a Library of Congress Living Legend, and a National Women’s Hall of Fame inductee.
The event will also feature multiple art exhibits, curated by AltaSea Board Member Cynthia Hirschhorn and artist Annie Sperling, that all reflect on humankind’s relationship with the ocean and its critical role in combating climate change. A large-scale immersive installation by artist Taiji Terasaki in collaboration with the environmental organization, Parley for the Oceans, will have its debut. The curated art will also feature prominent guest artist David LaChapelle, along with a dozen local artists and organizations, including AltaSea community partner Angels Gate Cultural Center and Otis College of Art and Design. The local artists include: Emma Akmakdjian, Maru Garcia, Ryan Graeff, Taylor Griffith, Blue McRight, Mason Rothschild, Debra Scacco, Jesse Small, and Annie Sperling.
AltaSea will present awards throughout the evening, recognizing individuals and organizations who have both paved the way and inspired the next generation:
Pacific6 is this year’s recipient of AltaSea’s Innovation Award. Founded in 2017 to invest in important initiatives that can positively impact communities, Pacific6 has been working with research institutions, government agencies, fishermen, aqua farmers, and environmentalists to help advance sustainable marine aquaculture in North America. The company is leading key aquaculture projects to meet the growing demands for healthy protein and demonstrate how our nation can sustainably grow more of the seafood we consume. This includes the development of state-of-the-art, commercial aquaculture vessels that represent a major step forward for safe, sustainable, and scalable open-ocean aquaculture in North America. Accepting on behalf of Pacific6 will be John Molina, founding partner of Pacific6.
EECI, a nonprofit based in Watts, will receive the NextGen Award. Since 1984, EECI has led an effort to assist, educate, train, and mentor multicultural entrepreneurs and at-risk youth. Earlier this year, AltaSea and EECI launched a collaboration that will open the doors to new career pathways for residents in Los Angeles County’s 2nd District, including a free series of business seminars called “Ride the Wave: Building Blue and Green Communities … One Small Business at a Time.” Barbara Stanton, Executive Director of EECI, will accept the award.
The first-ever Cornerstone Awards will go to Sandy Bradley and Kathy Walsh, who have both been instrumental in AltaSea’s growth since its founding.
The night will end with dancing and music from DJ Charlie B, whose music brings “happy, disco-inspired dance favorites to the dancefloor.”
AltaSea – a unique public-private ocean institute that convenes and nurtures the best and brightest pioneers and organizations in science, business, and education – hosted the first-ever Blue Hour in 2020, a drive-in experience that included a first-of-its-kind art installation projected onto the USS Iowa, a retired battleship-turned-museum moored on the San Pedro waterfront. Their 2021 fundraiser, Blue Hour 2: Ocean of Inclusion, was held at the Korean Friendship Bell in Angel’s Gate Park.
About AltaSea at the Port of Los Angeles
AltaSea at the Port of Los Angeles, located on 35 acres at North America’s leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world.
For more information on AltaSea, please see our website: https://altasea.org.
Jacob Scott
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BISMARCK, N.D.--(BUSINESS WIRE)--The North Dakota Tribal College System (NDTCS) today announced a new apprenticeship program developed in partnership with Hess Corporation to improve educational and employment opportunities for Native Americans across North Dakota.
Over the next four years, Hess will invest $12 million to provide tuition assistance, stipends and other support for establishing apprenticeships in a variety of industries designed by each of the state’s five tribal colleges based on the local job market and needs of their tribal communities. Halliburton and Nabors Industries will each invest $1 million in the new apprenticeship program.
Following the “earn and learn” model of the apprenticeship program currently in place at Lake Region State College, the new statewide program will provide tribal college students with on-the-job skills training through college work study, internships and apprenticeships as they progress toward completing a two-year degree or technical certification, with the possibility of earning a bachelor’s or master’s degree depending on the apprenticeship position and location. The new apprenticeship program is scheduled to begin in January 2023.
Speaking in the State Capitol at a ceremony commemorating the announcement, Gov. Doug Burgum recognized the significance of the new program.
“Public-private partnerships can be transformative, and the program being launched today is another great example of our state’s private-sector partners believing and investing in the future of North Dakota,” Governor Burgum said. “With today’s announcement, Hess, Nabors, and Halliburton are providing essential resources for our tribal colleges to invest in students in a way that can spark generational change and empower people, improve lives and inspire success.”
Also speaking at the announcement, Cankdeska Cikana (Little Hoop) Community College President Dr. Cynthia Lindquist said: “The partnership we are announcing today reflects the tireless efforts of everyone involved over the past 18 months to design a program that serves a traditional education mission while concurrently responding to deeper community needs. We are excited to develop new career and workforce opportunities for our young people and are very pleased to have the support from Hess, Nabors, Halliburton and the Governor.”
Hess CEO John Hess said: “Our company has a longstanding commitment to making a positive social impact on the communities where we operate. We are proud to support the North Dakota Tribal College System in developing a comprehensive program to provide students with education and employment opportunities that will lead to rewarding careers.”
Nabors Senior Vice President and Chief Administrative Officer Jade Strong said: “Nabors is committed to strengthening the communities that our employees call home. We are honored to support the NDTCS and advanced educational opportunities that can change lives and launch careers across North Dakota.”
Halliburton Chairman, President, and CEO Jeff Miller said: “As a company with a long history of operations in North Dakota, we see this program as a fantastic way to develop and nurture skills necessary for the future productivity of the local economy as well as for Halliburton. We are excited to support the NDTCS and this program.”
About the Initiative: The project to improve workforce, training, and education opportunities utilizes the apprenticeship pathway for Native people living in North Dakota via the North Dakota Tribal College System (NDTCS) in partnership with Lake Region State College (LRSC). The colleges under NDTCS have identified varied apprenticeship programs for consideration in areas such as HVAC, plumbing, heavy equipment, welding, building trades, auto tech, CDL, carpentry, IT, nursing, and professional positions at the colleges.
North Dakota Tribal College System (NDTCS): Chartered by federally recognized Tribal governments, North Dakota’s Tribal colleges teach and preserve culture and language as a component of the academic curriculum. Tribal colleges are public, affordable, non-profit post-secondary institutions accredited by the Higher Learning Commission, the same as state post-secondary institutions. Tribal colleges proactively collaborate with the North Dakota University System to enhance students’ academic experience that allows for seamless transfers. More information is available at www.ndtcs.org.
Hess Corporation (NYSE: HES) is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. The company is recognized as an industry leader in environmental, social and governance performance and disclosure. More information on Hess Corporation is available at www.hess.com.
Halliburton: Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 45,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company's website at www.halliburton.com.
Nabors Industries: Nabors Industries is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science, and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.
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Graco’s new facility incorporates solar energy and provides space for Company growth.
MINNEAPOLIS--(BUSINESS WIRE)--On Sept. 20, Graco Inc. (NYSE:GGG), a leading manufacturer of fluid handling equipment, held a ribbon-cutting ceremony for the grand opening of its new 538,000-square-foot building. It is the first building to open on the Patrick J. McHale campus in Dayton, Minnesota.
"The opening of our fourth Minnesota campus is driven by our commitment to continuous improvement," said Mark Sheahan, President and CEO. "Our business segments in Minneapolis have reached full capacity, which created a need to expand both our factory and office spaces. The new state-of-the-art facility in Dayton will continue providing enough space for these segments to grow for many years to come."
Graco, working with Impact Power Solutions (IPS), is investing in solar energy with this new building. The Company has added a 1.4-megawatt solar array, consisting of over 3,100 solar panels on the roof of the building. This investment will improve Graco's environmental footprint. Over the next 30 years, the solar array is expected to offset over 23,000 tons of CO2.
In recognition of Graco's sustainability efforts, IPS has also partnered with American Forests to plant 1,400 trees, one for each kilowatt of solar installed.
"Graco will continue to invest in the communities and environments we live in," said Angie Wordell, Executive Vice President of Operations. "With this new campus, Graco will replace some of our traditional energy consumption methods with solar energy. We've chosen to invest in more sustainable energy because it's the right thing to do for the environment, our communities, customers, employees and the business."
Graco partnered with general contractor, McGough, architectural services firm, HGA, and project manager, Tegra Group, to complete building construction. Graco also recognizes the support of the City of Dayton on this project. The new facility will house office and factory space.
ABOUT GRACO
Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.
Investors: David Lowe, 612-623-6456
Media: Taylor Juve, 612-623-6153
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Major CCUS industry/government collaboration announced at Global Clean Energy Action Forum (GCEAF) in Pittsburgh, USA
PITTSBURGH--(BUSINESS WIRE)--The Clean Energy Ministerial CCUS (CEM CCUS) and the Global Cement and Concrete Association (GCCA) have today, at the first-ever Global Clean Energy Action Forum (GCEAF), announced an agreement that will help scale up the deployment of carbon capture, utilisation and storage (CCUS) throughout the cement and concrete industry, in a move to stimulate innovation, investment and increase the pace of decarbonisation efforts.
Central to the agreement will be exploring incentives, policy frameworks and finance solutions at a global level that can enable industrial-scale CCUS projects over the next ten years. The two organisations will work together to ensure the long-term deployment of CCUS, beyond 2030, via both policy and technological development.
The agreement sets out the role CCUS can have in safely and effectively delivering a net zero future and facilitates the identification and mapping of potential cement-sector CCUS projects. It will explore the transport and storage infrastructure needs involved in integrating cement CCUS projects into strategic CCUS transport and storage hubs. It will also help to foster project partnerships and lead to acceleration of projects in developing economies.
Thomas Guillot, CEO of the Global Cement and Concrete Association, said: “Cement is the vital ingredient in concrete, the world’s most-used human-made material. It is the backbone of the modern world. The industry is striving to innovate at every stage of the concrete life cycle. We see carbon capture as a vital lever for the global cement industry to achieve its ambitious goal of net-zero concrete by 2050.
“We are starting to see the first CCUS projects already emerge. We have mapped 35 projects announced and underway across the world and up to 100 additional projects are also in the pipeline among our member companies who operate all around the globe.”
Mr Guillot added: “This is good progress, but we cannot achieve our decarbonisation mission alone. CCUS is a key enabling technology, and it is a critical area for collaboration to ensure that government policy, enabling infrastructure and wider investment is in place. That is why the partnership with the Clean Energy Ministerial CCUS Initiative is so important, to help unlock and accelerate further progress and deployment.”
Henriette Nesheim, Assistant Director General, Norwegian Ministry of Petroleum and Energy – and CEM CCUS Initiative Co-Lead from Norway, said: “This is a great opportunity to work together with a vitally important industry. In Norway we are already building our first cement-CCS project in Brevik, and we look forward to sharing the experience with others.”
Brad Crabtree, Assistant Secretary, Fossil Energy and Carbon Management, US Department of Energy, said: “Reaching our ambitious climate goals requires the decarbonization of various heavy industries, including cement production. In the United States, through the support of Congress, we are currently funding projects to develop carbon capture technologies in cement and other key industrial sectors that are essential to modern life, with the aim of helping to achieve net-zero emissions economywide by 2050 and retaining and creating high-wage industrial jobs. The U.S. Government is keen to drive progress in this area, together with our partners in the CEM CCUS Initiative and the Global Cement and Concrete Association.”
To reach these objectives, both parties have agreed to the organisation of expert workshops, inclusive of CEM CCUS and GCCA members, as well as relevant stakeholders and partners including the CEM Industry Deep Decarbonisation Initiative (IDDI). Both parties will also produce joint reports and organise public events outlining progress in opportunities to implement CCUS projects at strategic hubs.
The agreement was announced at a GCCA and CEM CCUS led event at the Global Energy Action Forum, focused on the challenge and opportunity for CCUS as a major decarbonisation lever for the global cement and concrete sector. This aligns with a core pillar of the GCCA’s 2050 Net Zero Roadmap, launched last year, in which its members have committed to the deployment of at least ten industrial-scale CCUS projects by 2030.
At the event, the industry summarised the key challenges in accelerating the deployment of CCUS and outlined the enabling factors crucial to increasing its rollout to create a greener concrete future. These factors include supporting policies and financing, public procurement progress and CO2 infrastructure and storage options alongside strategic hubs.
-ends-
Notes to editors:
Speakers at the GCCA and CEM CCUS led event at the Global Energy Action Forum included:
Panel:
About the GCCA
Launched in January 2018, the Global Cement and Concrete Association (GCCA) is dedicated to developing and strengthening the sector’s contribution to sustainable construction. The GCCA aims to foster innovation throughout the construction value chain in collaboration with industry associations as well as architects, engineers, and innovators. The association demonstrates how concrete solutions can meet global construction challenges and sustainable development goals while showcasing responsible industrial leadership in the manufacture and use of cement and concrete. It complements and supports the work of associations at national and regional levels.
About CEM CCUS
The Clean Energy Ministerial CCUS Initiative is a group of 14 member countries who have joined forces to accelerate CCUS together. The CEM CCUS countries all develop comprehensive CCUS programmes, with the intent to decarbonise all relevant industrial sectors. The objective of the Initiative is to accelerate CCUS as a viable CO2 mitigation option, facilitate diffusions of knowledge on technologies, regulations, and policies, and lead to strategic partnerships to accelerate both near- and longer-term investment in CCUS. As an action-orientate platform, the Imitative does not perform analysis, but serves to bring government, industry and the financial and investment sectors together.
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Pacific Gas and Electric Company Offers Tips to Help You Prepare
OAKLAND, Calif.--(BUSINESS WIRE)--Disasters can happen without warning. To help keep your family safe, Pacific Gas and Electric Company (PG&E) encourages customers to talk with their families or coworkers and make emergency plans.
September is National Preparedness Month, and this year the Federal Emergency Management Agency has a theme - “The life you’ve built is worth protecting. Prepare for disasters to create a lasting legacy for you and your family.”
Taking just a little time planning for emergencies today can make a tremendous difference if a disaster happens at your home or business, said Angie Gibson, PG&E Vice President of Emergency Preparedness and Response.
“My team and I focus on preparedness year-round. We believe firmly that the time spent preparing for emergencies reflects not only our commitment to the communities we service, but also an investment in the future. The more prepared we are today, the faster we can respond when emergencies occur,” Gibson said.
Gibson said these teams, from meteorologists and geologists to emergency managers and career public safety leaders, work every day to help PG&E and our customers prepare for wildfires, earthquakes, volcanic eruptions, or major storms. She also encourages customers to check with their local emergency preparedness experts.
“Visit your County Emergency Services website and understand the risks and hazards around you,” she said. “This will provide a great framework to know what you need to be prepared for and how to keep your family and neighbors safe.”
To help you protect your family, PG&E’s Safety Action Center offers tips on preparing emergency plans and other ways to keep your family safe. When preparing your emergency supplies, consider these tips -
The Ready.Gov website also offers a wide range of emergency preparedness tools and tips, including ways to prepare your family to respond before, during and after an emergency.
About PG&E
PG&E, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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DUBLIN--(BUSINESS WIRE)--The "Batteries for Solar Energy Storage Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Battery Type, Application, and Connectivity" report has been added to ResearchAndMarkets.com's offering.
The batteries for solar energy storage market size is projected to reach US$ 9,478.56 million by 2028 from US$ 3,149.45 million in 2022. It is expected to grow at a CAGR of 20.2% during 2022-2028.
Increasing investments in the renewable industry are propelling the batteries for solar energy storage market growth. As per the US Energy Storage Monitor report, 345 MW of new energy storage systems were brought into operation in the second quarter of 2021. For instance, in August 2021, Reliance Industries Ltd planned to invest US$ 50 million in American renewable energy storage company Ambri Inc. to develop cheap alternatives to lithium-ion batteries.
Similarly, in September 2021, EDF Renewables North America and Clean Power Alliance signed a 15-year Power Purchase Agreement (PPA) for the Solar-plus-Storage project. The project consists of a 300 MW solar project coupled with a 600 MWh battery energy storage system.
In June 2022, the New York State Energy Research and Development Authority (NYSERDA) awarded EDF Renewable North America a 1 GW solar and battery storage contract as part of its 2021 solicitation for large-scale renewable energy certificates. Energy storage developers in the US have plans to attain a capacity of 9 GW in 2022.
Thus, such upcoming investment prospects, along with an increasing number of solar energy projects, are augmenting the growth of batteries for solar energy storage market size over the forecast period.
A rise in demand for solar energy is driven by an increase in environmental pollution, and the funding of government incentives and tax rebates to install solar panels. Supportive government policies and regulations for installing solar panels are driving the market. FiT, investment tax credits, and capital subsidies are the prominent policies and regulations boosting the installation of solar plants in countries such as China, the US, and India.
China's Energy Transition Policies 2020 and 14th Five Year Plan, and Japan's 2021 - Energy Policy are attributed to the growth of the solar power industry. Furthermore, in March 2022, China planned to add a major government fund worth US$ 63 billion to pay off debt subsidies to the country's renewable power generators.
India and other countries, wherein solar energy holds a potential share in its energy mix, have introduced various schemes - including Solar Park Scheme, CPSU Scheme, VGF Schemes, Defense Scheme, Bundling Scheme, Canal bank & Canal top Scheme, and Grid Connected Solar Rooftop Scheme - to encourage the generation of solar power.
Thus, the proliferation of this energy segment with such supportive regulations, policies, and incentive schemes is propelling the demand for battery storage solutions which helps drive the batteries for solar energy storage market over the forecast period.
Growing investments in grid-scale battery storage systems are fueling the growth of batteries for solar energy storage market. For instance, in July 2022, Solar Energy Corp. and NTPC successfully executed the tenders for standalone energy storage systems. This initiative would accelerate investment, support domestic manufacturing, and facilitate the development of new business models.
In March 2021, Tata Power - in collaboration with Nexcharge, a lithium-ion battery and storage company - installed a 150 KW (kilowatt)/528 kWh (kilowatt hour) battery storage system, offering six-hour storage to enhance the supply reliability at the distribution side and reduce the peak load on the distribution transformers. Thus, such growth prospects in storage solutions is likely to drive the batteries for solar energy storage market over the forecast period.
Key players profiled in the batteries for solar energy storage market analysis are Alpha ESS Co., Ltd.; BYD Motors Inc.; HagerEnergy GmbH; ENERSYS; Kokam; Leclanche SA; LG Electronics; SimpliPhi Power; sonnen GmbH; and SAMSUNG SDI CO., LTD.
The adoption of batteries for solar energy storage among commercial, residential, and industrial sector drives the growth of the batteries for solar energy storage market. In June 2022, General Electric announced its plans for expanding its solar and battery energy storage manufacturing capacity to 9 GW per annum.
In many countries, government agencies encourage people to adopt solar energy by offering tax credits to those who install rooftop solar panels. Thus, such growing initiatives from key players, along with the rising deployment of solar systems in the industrial sector, are anticipated to drive the batteries for solar energy storage market growth during the projected period.
Asia Pacific held the largest share of the batteries for solar energy storage market in 2021. In October 2021, First Solar, US, announced an investment worth US$ 684 million in a Tamil Nadu-based solar photovoltaic (PV) thin film module manufacturing facility. Similarly, in June 2021, Risen Energy Co. Ltd, a solar power company in China, announced to invest US$ 10.1 billion in Malaysia from 2021 to 2035, with a prime goal of expanding its production capacity.
In June 2022, Glennmont (UK) and SK D&D (South Korea) signed a co-investment memorandum of understanding with a plan to invest US$ 150.43 million into solar photovoltaic projects. In addition, in May 2022, Solar Edge opened a new 2 GWh lithium-ion battery cell facility in South Korea to cater to the growing demand for batteries. Thus, such investments in the solar power industry and battery systems are driving the batteries for solar energy storage market dynamics over the projected timeframe.
Key Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Future Trends
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/zbxf6r
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OAKLAND, Calif.--(BUSINESS WIRE)--Second paragraph of release dated September 20, 2022, should read: In order to be considered a shareholder of record for the dividend payment, you must have purchased the stock at least two trading days before the record date (instead of: In order to be considered a shareholder of record for the dividend payment, you must have purchased the stock at least one trading day before the record date).
The updated release reads:
DATES SET FOR PACIFIC GAS AND ELECTRIC COMPANY QUARTERLY PREFERRED STOCK DIVIDEND
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), declared the regular preferred stock dividend for the three-month period ending October 31, 2022, to be payable on November 15, 2022, to shareholders of record on October 31, 2022. Pacific Gas and Electric Company will pay a dividend on its eight series of preferred stock as follows:
First Preferred Stock, |
Quarterly Dividend to |
Redeemable |
|
5.00% |
$0.31250 |
5.00% Series A |
$0.31250 |
4.80% |
$0.30000 |
4.50% |
$0.28125 |
4.36% |
$0.27250 |
Non-Redeemable |
|
6.00% |
$0.37500 |
5.50% |
$0.34375 |
5.00% |
$0.31250 |
In order to be considered a shareholder of record for the dividend payment, you must have purchased the stock at least two trading days before the record date.
This update only refers to Pacific Gas and Electric Company preferred shares, not to shares of PG&E Corporation common stock, for which a dividend has not been reinstated.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.
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RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised D&H United Fueling Solutions (D&H United), a portfolio company of KLH Capital (KLH), on its sale to Wind Point Partners (Wind Point). D&H United is a leading provider of testing, inspection, repair, and installation services for fueling stations and electric vehicle (EV) charging infrastructure across the United States. The transaction was led by Luke Semple, Sean Bielawski, and Henry Frost of the Harris Williams Energy, Power & Infrastructure (EPI) Group and Graham Gillam of the firm’s Business Services Group.
“It has been a pleasure working with CEO Bo Sasnett and the rest of the D&H United team on this important transaction,” said Luke Semple, a managing director at Harris Williams. “D&H United has grown into a premier platform in its industry, as the remarkable breadth and quality of its testing, inspection, and compliance; maintenance; and installation services across both retail fueling and EV charging infrastructure make the company an essential partner for its customers.”
“We continue to see strong investor appetite for companies like D&H United that provide mission-critical, non-deferrable services in fragmented industries,” said Graham Gillam, a director at Harris Williams. “The company has done an excellent job executing on its growth strategy, both organically and through M&A, and we look forward to seeing the next phase of growth under Wind Point’s ownership.”
D&H United is a leading provider of both petroleum fueling and EV charging system service, equipment, and installation. D&H United is an authorized distributor and service provider for Gilbarco Veeder-Root as well as other major equipment brands. The company has 16 branch offices and more than 570 employees. D&H United also provides compliance testing for tanks and lines in 25 states through its Valley Tank Testing subsidiary.
Founded in 2005, KLH is a private equity firm serving family- and founder-owned, lower-middle market companies in the specialty services, value-added distribution, and niche manufacturing industries. The firm makes majority and minority equity investments in U.S.-based businesses to support the company’s growth plans, provide ownership opportunities for key managers, and allow owners to harvest the value in their businesses.
Wind Point Partners is a Chicago-based private equity investment firm with approximately $5 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products and business services sectors. Wind Point is currently investing out of Wind Point Partners X, a fund that was initiated in 2022.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams EPI Group has significant experience advising market leading providers of technology, services and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.
The Harris Williams Business Services Group has experience advising companies that provide a range of commercial, industrial and professional services. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: This email address is being protected from spambots. You need JavaScript enabled to view it.). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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Its fourth-generation hydrogen fuel cell engine, LFP battery pack and newly acquired Meritor ePowertrain technologies are making their debut
COLUMBUS, Ind.--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI) is showcasing its platform of zero-emissions technologies this week at the IAA Transportation show, the world's largest mobility show, in Hannover, Germany. A range of new Cummins technologies and the recently acquired Meritor ePowertrain technologies are available publicly together for the first time. With over a century of experience as a global power leader, Cummins is solidifying its commitment to providing comprehensive zero-emissions technology on a global scale.
"Cummins has deep application expertise, and we are uniquely positioned to deliver solutions that truly fit the needs of commercial applications," said Amy Davis, Vice President and President of New Power at Cummins. "Realizing a net-zero future will require a range of technologies. Our extensive zero-emissions portfolio is how we will meet varied customer demands across the hardest-to-abate industries and make the energy transition possible."
One key zero-emissions product Cummins revealed at IAA is its fourth-generation hydrogen fuel cell engine. Designed to meet the duty-cycle, performance and packaging requirements of medium- and heavy-duty trucks and buses, the fuel cell technology is available in 135 kW single and 270 kW dual modules.
Scania in Europe and Daimler Trucks North America have each announced collaborations with Cummins to develop and integrate these next-generation fuel cell engines into demonstrator vehicles. The systems use fourth-generation variable pressure technology to provide higher power density, power nodes and operating temperatures for easier system integration into vehicles. They also have strong operating cycle efficiency and durability for a lower total cost of ownership.
“We know our customers have diverse needs and complicated duty cycles to support, which is why we focus on continued innovation and improvement,” said Amy Adams, Vice President of Fuel Cell and Hydrogen Technologies at Cummins. “We’re developing hydrogen fuel cell technology that demonstrates the capacity and flexibility required to meet or exceed the power needs for on-highway commercial vehicles – proving hydrogen as a viable solution to decarbonize the economy.”
Attendees at IAA will also get the first glimpse of a drivetrain assembled with a newly introduced Cummins lithium iron phosphate (LFP) battery pack, Meritor’s 17xe ePowertrain and Meritor’s Power Control and Accessory System (PCAS). Cummins recently added the ePowertain and PCAS solutions to its portfolio through its acquisition of Meritor. The ePowertrain leverages market-leading technologies in the axle, motor and inverter, delivering performance, efficiency and packaging advantages at a competitive cost. Additionally, the PCAS provides power where needed and control of necessary sub-systems while reducing packaging size and simplifying integration.
Cummins is adding an LFP battery to its line of lithium-ion battery products to expand support of electrified commercial vehicle applications. The LFP solution gives customers access to faster charging and longer-life batteries, targeting the medium-duty truck and school bus markets. By using a multi-chemistry strategy, Cummins is positioned to expand its manufacturing capacity further and diversify its supply chain, providing customers with more cost-effective electrification solutions.
"We are giving customers options to enable them to adapt to a zero-emissions future faster," said Brian Wilson, General Manager of Electrified Components at Cummins. "With the recent acquisition of Meritor and our new multi-chemistry approach, we will be able to tailor our solutions and offer a one-stop-shop for customers' powertrain needs."
Cummins' portfolio includes four batteries, each of which targets a different duty cycle and use case and complement each other. In addition to the LFP option, this includes three nickel manganese cobalt (NMC) batteries – the BP95E, BP74E and BP30E. The BP95E is Cummins’ next-generation solution that prioritizes greater energy density in applications for customers who need more weight-sensitive solutions or have longer ranges. The BP30E is ideal for meeting limited-space applications and rugged demands, and the BP74E is the foundation for Cummins’ BEV innovation and progress.
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About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains, and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment, and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24.0 billion in 2021. See how Cummins is powering a world that is always on by accessing news releases and more information at https://www.cummins.com/always-on.
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HOUSTON--(BUSINESS WIRE)--M6 Midstream (“Momentum” or “the Company”) today announced a final investment decision (“FID”) on its new natural gas gathering and carbon capture project, New Generation Gas Gathering (“NG3”), which will gather natural gas produced in the Haynesville Shale for re-delivery to premium Gulf Coast markets, including LNG export. In addition, the Company completed the acquisitions of Midcoast Energy’s East Texas business (“Midcoast ETX”) from an affiliate of ArcLight Capital Partners, LLC and Align Midstream from Tailwater Capital to establish a leading presence in the Haynesville Shale.
With the final investment decision, the natural gas gathering and carbon capture project will have an initial capacity of 1.7 Bcf/d and is expandable to 2.2 Bcf/d and will also capture and permanently sequester up to 2.0 million tons per annum of CO2. The project is expected to commence operations in the second half of 2024.
“With significant long-term volume commitments from several leading Haynesville Shale producers, including Chesapeake Energy, we are pleased to reach a positive FID on our new gathering and treating project, which, combined with our existing capacity on the Midcoast system, will serve to address bottlenecks in the Haynesville Shale and provide much needed capacity to the growing LNG markets on the Gulf Coast,” said Frank Tsuru, CEO of Momentum. “Our customers are also excited to be part of the first of its kind net negative gas gathering project.”
Mr. Tsuru added, “Consistent with our past business practices, Chesapeake Energy’s anchor commitment for NG3 comes with an option to own 35 percent of the project, creating alignment between Momentum and one of the largest Haynesville Shale producers.”
With the combined assets of Midcoast ETX and Align Midstream, Momentum is currently servicing volumes in excess of 2.0 Bcf/d across a footprint including approximately 3,000 miles of gathering pipelines, 1.5 Bcf/d of treating capacity, 700 MMcf/d of processing capacity, 200,000 HP of compression and 820 miles of transportation pipelines delivering gas to the Gulf Coast markets in southeast Texas and the Carthage and Bethel markets in east Texas. The assets serve a diverse customer base comprised of producers, utilities, end-users and LNG exporters.
“Pairing the extensive footprints of the Midcoast and Align assets with NG3, Momentum is able to relieve existing constraints in the Haynesville Shale, particularly the Shelby Trough, and allow our producer customers to reach premium Gulf Coast markets,” said Brant Baird, President of Momentum. “We also provide these Gulf Coast markets and LNG facilities with direct access to growing Haynesville Shale production.”
“We have been closely associated with the management team at Momentum for more than three decades and are incredibly proud to help accelerate their plans to establish a leading presence in the Haynesville Shale,” EFM Managing Partner and Founder Billy Lemmons said. “EnCap Flatrock Midstream came alongside several proven institutional energy investors in Yorktown Energy Partners, Martin Sustainable Resources, Ridgemont Equity Partners, Bengas Midstream Partners and Blackstone Credit to support Momentum’s Haynesville Shale growth plans.”
Terms of the transactions were not disclosed.
Advisors
Barclays served as exclusive financial advisor to Momentum on the Midcoast ETX acquisition, and Barclays, Jefferies Finance LLC, Blackstone Credit and Wells Fargo Securities, LLC arranged the acquisition financing. Jefferies LLC served as exclusive financial advisor to Momentum on the Align acquisition, and Vinson & Elkins LLP served as legal counsel to Momentum on both the Midcoast ETX and Align Midstream acquisitions.
Jefferies LLC and Latham & Watkins LLP advised ArcLight Capital Partners, LLC on the sale of Midcoast. Piper Sandler & Co and Locke Lord advised Tailwater Capital on the sale of Align Midstream.
About Momentum
Momentum is an independent midstream energy company that provides natural gas producers with flexible, responsive and reliable services to link the wellhead to the market. Since 2004, Momentum has developed or acquired more than 5,000 miles of pipeline, 18 processing facilities, three NGL fractionation facilities, over 1 million barrels of storage and approximately 500,000 horsepower of compression. The Company’s core focus is building high-quality greenfield projects and acquiring natural gas assets in growing U.S. basins that meet the emerging needs of its customers. Momentum is backed by equity commitments from EnCap Flatrock Midstream, Yorktown Energy Partners, Martin Sustainable Resources, Ridgemont Equity Partners, Bengas Midstream Partners and Blackstone Credit. For more information, please visit https://www.momentummidstream.com.
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MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto and Shougang Group, one of the world’s top 10 steel producers, have signed a Memorandum of Understanding (MoU) to promote research, design and implementation of low-carbon solutions for the steel value chain. The MoU’s focus areas include low-carbon sintering technology, blast furnace (BF) and basic oxygen furnace (BOF) optimisation, and carbon capture and utilisation (CCU).
This partnership with Shougang underlines Rio Tinto’s strategic commitment to partner with customers on steel decarbonisation pathways and to invest in technologies that could deliver reductions in steelmaking carbon intensity.
Initial efforts will be focused on, but not limited to, BF slag heat recovery, BOF slag utilisation, CCU and low-carbon sintering technology.
The MoU builds on the nearly 30-year relationship between Rio Tinto and Shougang as trade and technical partners. The two companies will work together, leveraging their respective strengths in research and development, technologies, processes, equipment, logistics and industry coordination to support their shared objectives of limiting the impacts of global climate change and reducing carbon emissions.
Rio Tinto Chief Commercial Officer Alf Barrios said “Steel is a vital material for economic growth and low-carbon infrastructure. At Rio Tinto, we want to play a strong role as an industry partner to support the decarbonisation of steel. We are delighted to be able to extend our partnership with Shougang to jointly work towards our shared vision of a ‘greener’ steel value chain.”
Wang Jianwei, Vice President of Shougang Group, said, “Green and low-carbon transition and upgrading is the only way for high-quality and sustainable development of the steel industry. The cooperation between Shougang Group and Rio Tinto Group to develop low-carbon generic technologies for the steel sector and explore decarbonization solutions is a positive move for both sides to cooperate and promote low-carbon technology innovation.”
Around 70 percent of global steel is produced using the BF-BOF route, according to the World Steel Association1.
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1 https://worldsteel.org/about-steel/about-steel/
Notes to editors
Rio Tinto
Rio Tinto is a mining and metals company operating in 35 countries. As set out in Rio Tinto’s Climate Action Plan, approved by shareholders in the 2022 AGMs, we aim to reduce Scope 1 & 2 carbon emissions by 15 per cent by 2025, and by 50 per cent by 2030. These targets are expected to be supported by around $7.5 billion of direct investments to lower emissions between 2022 and 2030. Working in partnership with governments, suppliers, customers, academia and others, Rio Tinto will continue to develop technologies and explore multiple pathways to produce green steel.
In 2022, Rio Tinto committed to engaging with all its direct iron ore customers, representing approximately 75 percent of its iron ore sales and related Scope 3 emissions, to share information on respective climate change goals and roadmaps, and actively seek areas of mutual collaboration on pathways to net zero.
Shougang Group
Founded in 1919, Shougang Group is one of China’s oldest industrial enterprises. In China’s 14th Five-Year Plan period (2021-2025), Shougang has committed to accelerating the adoption of innovative solutions to contributing to China’s duo carbon goals. The company has identified four areas of focus, including process optimisation and energy efficiency improvement, clean energy and CCUS technology development, recycling and green product development, and low-carbon cross-sector partnership development.
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