President and CEO Larry Simkins to Retire After Distinguished 21 Year Career
Mark Lamarre, CEO of Seaspan Shipyards, to Assume Role of President and CEO of the Washington Companies
MISSOULA, Mont.--(BUSINESS WIRE)--The Washington Companies (“the Company”) today announced that Larry Simkins will retire as President, Chief Executive Officer and member of the Board of Directors after a distinguished 21-year career as CEO of the Company. The Washington Companies’ Board has appointed Mark Lamarre, CEO of Seaspan Shipyards, to assume the role of President and CEO, and Mr. Lamarre will join The Washington Companies’ Board. Mr. Simkins and Mr. Lamarre have worked closely on an orderly and seamless transition plan since 2021. Mr. Simkins will remain on the Board of Directors of Atlas Corporation (NYSE: ATCO).
Dennis R. Washington, Founder and Chairman of The Washington Companies, said: “As Larry prepares to retire after more than two decades with The Washington Companies, I want to personally thank him for his dedication, leadership and friendship over the years. He has been critical to the success of The Washington Companies throughout his tenure as he worked to successfully diversify our businesses, expand our footprint and develop strong leadership teams that will oversee the success of these companies for multiple generations into the future. I am grateful for his partnership and, on behalf of the entire Board, wish him well in the future.”
Mr. Lamarre’s appointment follows a thorough succession planning process by the Company’s Board in collaboration with Mr. Simkins as well as the Board of Seaspan Shipyards, which has announced its own leadership transition concurrent with this announcement.
Mr. Washington continued: “I am pleased to welcome Mark Lamarre, a proven leader with an impeccable track record, as the new President and CEO of The Washington Companies. Since joining Seaspan in 2018, Mark has been instrumental in building on the Company’s dominant position in the shipbuilding and ship repair industry and has also come to know the operations, people and culture of our other companies extremely well. We are fortunate to have such a deep bench of talent to pull from to oversee the continued success of our companies for the benefit of our employees, customers and communities.”
To support the succession planning process, The Washington Companies also announced today additional senior leadership changes, including:
Mr. Simkins commented: “It has been a tremendous honor to serve as President and CEO of The Washington Companies, as well as to have served on the Boards of our portfolio companies for over two decades. I am proud of the work we have done to position the Companies with Mr. Washington’s vision of long-term success for multiple generations. I am fortunate to pass the reins over to a seasoned leader from within the organization. Mark has been instrumental in building Seaspan into the market leader it is today. The world-class team that includes Jerry Lemon, Jeff Schwarz, Joe Racicot, Frank Butzelaar, and Haley Nelson, will begin to write their remarkable chapter of the Washington family legacy as they begin a new and exciting era for The Washington Companies.”
Mr. Lamarre said: “It is a privilege to be The Washington Companies’ next President and CEO. Larry laid the groundwork for such a strong organization with incredible talent and unmatched offerings, and I am excited to build on the momentum he created. I want to thank Mr. Washington and the Board for their vote of confidence and look forward to working in partnership with the team over the coming months as we continue executing on our long-term strategy.”
Mark Lamarre Biography
Mark joined Seaspan Shipyards as Chief Executive Officer in July 2018, bringing over three decades of experience in complex planning, operations management and restructuring experience. Before his appointment, Mark served as Chief Executive Officer at Australian Shipbuilding Company (ASC), where he led the division of the company engaged in the engineering, construction, activation and post-delivery support of Naval surface combatants to the Australian Navy. Before that, he spent 24 years at Bath Iron Works, the $1.2 billion shipbuilding business unit of General Dynamics Corporation, in increasingly senior roles.
About The Washington Companies
The Washington Companies are a group of privately held companies headquartered throughout the United States and western Canada and conducting business internationally. Holdings include Montana Resources, Montana Rail Link, Seaspan Marine and Shipyards and Southern Railway. The construction entities include Modern Machinery and Envirocon. The combined group generates revenues above $1.6 billion (USD). Our customer focus on reliably delivering commodities, ships, transportation, service, equipment, and technology, as the safe, low-cost operator earns us the reputation as a desired counterparty.
With over a half-century of experience in our focus industries, The Washington Companies have established a reputation for fulfilling their founding principles of integrity, performance, passion and vision. As part of giving back within our local communities, the Dennis and Phyllis Washington Foundation gives a boost to local charities in the communities where our employees live and work as well as support for prestigious national programs.
FGS Global
Jared Levy / Danya Al-Qattan
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INDIANAPOLIS--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI) is pleased to announce that its popular Tier 4 QSK95 engine can be safely used with renewable diesel, without any negative impact to its current EPA emission requirements or reliability.
“Cummins is ready to assist customers on the decarbonization journey. By working together, we can effect change for today’s climate crisis,” states Cummins General Manager – Rail and Defense, Regina Barringer.
Cummins partnered with Siemens Mobility to help customers meet their goal of running renewable diesel in QSK95-powered Charger locomotives to reduce emissions and use a fuel with lower carbon intensity. As such, Cummins undertook extensive testing and investigating of the impact of renewable diesel on their QSK95 Tier 4 fuel and aftertreatment systems through performance, emissions, and durability tests. For these tests, hydrogenated vegetable oil (HVO) was chosen.
HVO reduces well to work carbon intensity by up to 90% compared to conventional diesel fuel. HVO can be produced without fossil resources by processing lipids such as vegetable oil, tallow, or used cooking oil. Its chemical and physical properties are like those of diesel fuel, but its fossil-free composition and low carbon content provides a simple and efficient alternative to diesel. Importantly, HVO can be blended and used in any proportion with diesel which allows for ease of transition.
The tests showed that the QSK95 engine not only meets all of its Tier 4 EPA emissions targets using this renewable fuel, it also recorded additional positive environmental impacts:
“Siemens Chargers continue to transform passenger rail throughout North America,” said Armin Kick, vice president of Locomotives and High-Speed Trainsets, for Siemens Mobility in North America. “Now being able to incorporate renewable fuel into Charger operations will allow our customers to make even more meaningful inroads into their sustainability efforts.”
This initiative is a strong example of Cummins’ overall commitment to develop innovative solutions that enable decarbonization, and proactively advance the company’s current technology to achieve industry-leading emissions reductions. Through Planet 2050, Cummins pledges to address climate change, support communities and use resources wisely.
About Cummins Inc.
Cummins Inc., a global power technology 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 internal combustion, electric and hybrid integrated power solutions and components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, microgrid controls, batteries, electrolyzers 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 billion in 2021. Learn more at cummins.com.
James Wide
External Communications
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LUCERNE, Switzerland--(BUSINESS WIRE)--Schlumberger and Aramco have announced plans to collaborate and develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors.
The proposed platform will enable companies in industries such as oil and gas, chemicals, utilities, cement and steel to collect, measure, report and verify their emissions, while also evaluating different decarbonization pathways.
“Aramco and Schlumberger are hoping to draw on our long history of collaboration and partnership to deliver a digital sustainability ecosystem that enables global organizations to manage their carbon emissions and realize ambitious sustainability goals,” said Olivier Le Peuch, chief executive officer, Schlumberger. “The sustainability platform will be a game changer for the energy and hard-to-abate industry sectors as they look toward a lower-carbon future.”
“This collaboration represents an unprecedented opportunity for both companies to leverage digitalization to tackle one of the most critical challenges of our generation. At the same time, it would expand digital capabilities within the Kingdom of Saudi Arabia and harness Schlumberger’s global reach to potentially deliver a worldwide impact,” said Ahmad A. Al-Sa’adi, senior vice president of Technical Services at Aramco.
Customers will be able to measure and report baselines, targets, emissions, offsets and credits, which will help them manage their carbon footprints more effectively by increasing the availability and visibility of relevant data in a transparent and flexible solution.
Building on an open architecture, the platform will be extendable into other aspects of the industries’ sustainability efforts, both current and future, and will ultimately include workflows such as water sustainability and management, methane emissions measurement, flaring reduction and prevention, and carbon capture and storage.
About Schlumberger
Schlumberger (NYSE: SLB) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
Find out more at www.aramco.com
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This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “aspire,” “aim,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; the inability to achieve carbon emissions goals; the inability of technology to meet new challenges in sustainability and exploration; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking statements are aspirational and not guarantees or promises that goals or targets will be met. Forward-looking and other statements regarding environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in Schlumberger’s filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. The forward-looking statements speak only as of the date of this press release, Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
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Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
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ALAMEDA, Calif.--(BUSINESS WIRE)--To jump-start the energy transition and support the growing electric vehicle (EV) and grid storage markets, global lithium-ion battery capacity is expected to rise up to ten-fold in the next decade. The cathode active material (CAM) market alone will grow to $189 billion by 2032 and is the most expensive component and the bottleneck in the production of lithium-ion batteries. Improvements to the manufacturing of CAM are critical to meeting the long-term demand for batteries and exceeding EV automakers’ cost reduction targets.
Advanced materials technology company Sylvatex (SVX) is announcing a new production method that delivers premium EV-grade CAM at dramatically lower costs and allows for a broader material input supply base to enable demand growth. The Company’s simpler and more sustainable approach to CAM production is expected to enable a 25 percent reduction in CAM cost, a 40 percent reduction in plant capital requirements, and up to an 80 percent reduction in energy usage.
SVX recently closed its Series A funding of $8.4 million, with Catalus Capital serving as the lead investor, along with Amplify Capital and How Women Invest, and others to support commercializing and scaling its technology. The Company has also received additional grant financing from the National Science Foundation, the U.S. Department of Energy, and others. SVX continues to collaborate with battery industry experts and collaborators at the Lawrence Berkeley National Laboratory and Argonne National Laboratory.
To meet increasing EV demands, about 100 additional CAM plants (or 5 million additional tons) will need to be in production by 2032. Today’s cathode production methods would require $200 billion in manufacturing capital deployed and 20 billion gallons of water consumed annually - the equivalent water use of 182,000 American homes. SVX’s new method brings sustainability to cathode manufacturing by eliminating water use while delivering substantial cost reductions and using 80 percent less energy.
“Today’s method for producing cathodes is extremely costly and requires an incredible amount of resources. If we're to realize the clean energy transition, battery production must scale dramatically, and evolve into a more cost-effective and sustainable process,” says Danny Kennedy, CEO of New Energy Nexus, an international clean energy accelerator that awarded SVX a grant to further develop its technology. “Clean energy innovators like SVX are the next generation of pioneers that will ultimately drive the growth of the EV market.”
“The existing EV supply chain requires innovation to deliver materials faster, more sustainably, and at a lower cost. SVX’s production technology is core to that vision,” said SVX founder and CEO Virginia Irwin Klausmeier. “As EV production scales exponentially over time, conventional methods are not economically feasible or environmentally viable; battery manufacturing plants are too capital-intensive, production is too expensive, and the immense amount of water required cannot be sustained in a time of extended droughts. We are working to show our industry a more sustainable path forward while reducing costs for battery production that future-proofs manufacturing for decades to come.”
In less than twelve months, the Company has scaled its technology a hundred-fold from bench-scale to pilot-scale. SVX is collaborating with several top-tier EV automotive manufacturers and supply chain partners on qualifying materials and further scaling processes. SVX expects its technology to be deployed in cathode production worldwide and sees new promise in the domestic market after the passage of the Inflation Reduction Act and Bipartisan Infrastructure Law. SVX’s technology also enables flexibility on raw material inputs, such as transition or recycled metal oxides, which reduces geo-political and other supply chain risks while lowering the cost of the EV battery.
“We see a lot of growth potential in the EV battery space, especially in advanced manufacturing,” says Saif Qazi, Vice President of Catalus Capital, the Company’s lead investor in its Series A. “Most process improvements reduce operating costs but increase capital costs; however, this innovation from SVX is unique because it reduces both capital costs and operating costs simultaneously, resulting in a substantial reduction in battery costs on a $/kWh basis. The Company’s leadership in sustainable manufacturing has resulted in an industry-leading process ready for commercial applications. We look forward to their continued success as the use of lithium-ion batteries proliferates throughout society.”
About Sylvatex (SVX)
Sylvatex (SVX) is transitioning the world’s energy systems through foundational manufacturing improvements impacting our zero-emission electric future. The Company has developed and is commercializing a lithium-ion battery cathode production technology that uses a sustainable, waterless manufacturing process. By unlocking greater cost-efficiency in battery production, SVX is enabling EV automakers and the battery supply chain to meet the rising demand for lithium-ion batteries while accelerating the widespread adoption of electrified mobility. For more information, visit https://sylvatex.com.
Media:
Jake Wengroff
Technica Communications
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AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox (B&W) (NYSE: BW) is proud to announce its participation in the 2022 Global Clean Energy Action Forum, organized by the U.S. Department of Energy and Carnegie Mellon University, Sept. 21-23, 2022, in Pittsburgh, Pa. B&W Chairman and Chief Executive Officer Kenneth Young will be a featured speaker in a special roundtable discussion with other key energy industry leaders and U.S. DOE officials on Thursday, Sept. 22 at 6:30 p.m. ET.
The 4 C’s Celebration: Clemente, Community, Commerce & Climate roundtable will be held at the Roberto Clemente Museum and will focus on “The Pivot from Research to Commercialization.”
“I look forward to participating in the Cleantech Leaders Roundtable and joining U.S. DOE officials and industry leaders, including our energy storage partner EOS Energy Enterprises, Inc., for an in-depth discussion of the challenges and opportunities in taking clean energy technologies from the research phase to commercialization in support of the global clean energy transition,” Young said. “B&W is one of the leaders in the clean energy revolution, with technologies to help utilities and industry reduce emissions and fight climate change, including renewable energy generation, solar power construction and services, emissions control technologies, energy storage, and our ClimateBrightTM suite of decarbonization and hydrogen solutions.”
“Meeting the U.N.’s worldwide goal of net-zero greenhouse gas emissions by 2050 requires creative solutions and new ways to help move game-changing ideas from the research lab to the field,” he said. “The Global Clean Energy Action Forum is a great way to help foster the dialogue and public-private cooperation needed to turn bold ideas into world-changing actions and we’re honored to be invited to participate in this event.”
The first-ever U.S.-hosted Global Clean Energy Action Forum is being held Sept. 21-23, 2022, at the David L. Lawrence Convention Center in Pittsburgh. Clean energy leaders from around the world will unite to accelerate the clean energy transition while responding to global security needs. Key speakers will include U.S. DOE Secretary Jennifer Granholm, U.S. Special Presidential Envoy for Climate John Kerry, and many others.
The event is open to all who wish to attend, and more event details and registration can be found at https://gceaf.org.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.
Investor Contact:
Investor Relations
Babcock & Wilcox
704.625.4944
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today that the Company plans to host an FLNG Investor Day at the Kiewit Offshore Services (“KOS”) shipyard near Corpus Christi, Texas, on Wednesday, November 2nd, 2022, beginning at 10:00 A.M. Central Time. Specializing in the fabrication and integration of offshore projects, the 555-acre KOS facility is home to NFE’s Fast LNG program and the ongoing conversion of marine infrastructure into floating liquefaction units.
“With our partners at Kiewit, we look forward to hosting investors and analysts at this world-class facility in Texas,” said Wes Edens, Chairman and Chief Executive Officer of NFE. “We expect to achieve mechanical completion of our first FLNG unit in March 2023 and deploy FLNG 1 into operation by mid-year, with additional units to follow soon thereafter. Utilizing a highly skilled workforce on the U.S. Gulf Coast, we have developed an efficient and repeatable construction process – essentially an FLNG factory – that substantially reduces the cost and time to build incremental liquefaction capacity to meet the urgent needs of the global energy markets.”
Space will be limited to ensure the safety of visitors and to adhere to the security requirements of facility operations and personnel. Investment and sell-side research professionals wishing to attend the FLNG Investor Day should therefore express interest via email as soon as possible but in no instance later than Friday, September 30th, 2022: This email address is being protected from spambots. You need JavaScript enabled to view it..
About New Fortress Energy
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships, and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.
Cautionary Language Regarding Forward-Looking Statements
This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future performance or our projected results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: completion and operation of our projects within the expected timeline or at all; ability to develop additional units; anticipated benefits to be derived from our processes; and ability of energy infrastructure in addressing the needs of the global energy market. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations and financial condition or our stock prices. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: risks related to the development, construction, completion or commissioning schedule for the facilities; inability to effectively implement the Fast LNG program; unknown and unforeseen risks associated with the development of new technologies; inability to realize the anticipated benefits from the technology, including the cost and time savings anticipated; and risks related to the implementation of our mission and business strategy. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.
Investors
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Jake Suski
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of September 2022. Unitholders of record on September 30, 2022 will receive distributions amounting to $0.124452446 per unit, payable on October 31, 2022. The Trust received $275,783, all of which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company. No income was received in September 2022 from any other working interest owner. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $231,928.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
SANTA MONICA, Calif.--(BUSINESS WIRE)--Autonomy, the nation’s largest electric vehicle subscription company, today published the first issue of its electric vehicle market report: a comprehensive analysis on the state of the global electric vehicle market, with a focus on the U.S. market.
Worldwide demand for electric vehicles continues its unstoppable climb despite the increasing headwinds from supply-chain constraints, rising interest rates, inflation, and geopolitical instability. Autonomy’s EV Market Report highlights the major players, the challenges, the trends, and more in the global transition to electric vehicles.
“We are about to witness a 1,000% increase in EV sales in the U.S. within this decade. The transition from internal combustion engine vehicles to electric vehicles is nothing short of being one of the biggest transformations in not only mobility, but also personal technology,” said Scott Painter, founder and CEO of Autonomy. “As operators of the largest electric vehicle subscription company in the country, our EV Market Report represents our commitment to being students of the EV market and sharing our knowledge with the automotive industry, local, state, and federal government officials, and consumers.”
Topics covered in detail include the following:
In this issue, we have also included sections on the vehicle subscription model and how it helps increase electric vehicle adoption by making access to EVs easier and more affordable.
"The EV race is on. While today Tesla is synonymous with electric vehicles, 130 new electric vehicle models will be available by 2026, offered by over 40 different brands," said Georg Bauer, president and co-founder at Autonomy. "It's an exciting time to work in the automotive industry and an even more exciting time to be a consumer."
“Our goal with this report is to guide decision makers in this very dynamic marketplace, assist media with interesting angles and analyses, as well as empower consumers with the most current trends and data available in the EV segment,” said Jesse Toprak, chief analyst at Autonomy.
Autonomy’s EV Market Report is available to download for free here: www.autonomy.com/company/evmarketreport
Scott Painter, Georg Bauer, and Jesse Toprak are available for media interviews on any topic included in this report. Contact the Autonomy Public Relations team at This email address is being protected from spambots. You need JavaScript enabled to view it. for media requests, including commentary and bespoke analysis.
ABOUT AUTONOMY
Autonomy is a technology company on a mission to make access to mobility easy and affordable through car subscriptions. The company was founded by auto retail, auto finance, and auto insurance disruptors Scott Painter and Georg Bauer, who founded Fair, the first-ever used-vehicle subscription offering, pioneering the Car-as-a-Service (CaaS) category. Building upon that experience, Autonomy has created a turnkey vehicle subscription platform for consumers and the automotive industry that enables vehicle subscriptions to scale profitably and become a mainstream alternative to traditional car buying. Autonomy is innovating through technology, finance, and insurance to power car subscriptions for the battery, electric vehicle, and zero-emissions vehicle sectors. Autonomy relies on partnerships with automakers and brick-and-mortar car dealerships to provide benefits to both consumers and the industry. Autonomy represents freedom from long-term debt, freedom from long-term commitments, and even freedom from fossil fuels. It means new choices and more control over your financial well-being. Autonomy is based in Santa Monica, California.
Follow Autonomy on LinkedIn, Twitter, Instagram, Facebook, YouTube, and TikTok.
Autonomy Public Relations Contacts:
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Board of Directors Takes Action to Protect Long-Term Value for All Stockholders in Response to Significant Third-Party Share Accumulation
HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today announced that its Board of Directors (the “Board”) has unanimously adopted a limited-duration stockholder rights plan (the “Rights Plan”) to protect the interests of all stockholders. The Rights Plan is effective immediately.
The Board adopted the Rights Plan in response to recent significant accumulations of portions of SilverBow outstanding common stock. The Rights Plan is similar to other rights plans adopted by publicly held companies, and is intended to promote the fair and equal treatment of all stockholders. The Rights Plan is designed to enable all Company stockholders to realize the long-term value of their investment and is intended to protect SilverBow and its stockholders from efforts by a single stockholder or group to obtain control of the Company without paying a control premium.
Marcus C. Rowland, Independent Chairman of the Board said: “SilverBow’s Board is committed to acting in the best interests of all of the Company’s stockholders, and will continue to take actions that we believe will drive long-term value. We want investors to realize the full value of their investment and receive fair and equal treatment, which is what the Rights Plan is designed to ensure.”
ADDITIONAL INFORMATION ON STOCKHOLDER RIGHTS PLAN
The rights will be exercisable only if a person or group acquires 15% or more of the Company’s outstanding common stock. Each right will entitle stockholders to buy one one-thousandth of a share of a new series of junior participating preferred stock at an exercise price of $160.00.
If a person or group acquires 15% of the Company’s outstanding common stock, each right will entitle its holder (other than such person or members of such group) to purchase for $160.00, a number of Company common shares having a market value of twice such price. In addition, at any time after a person or group acquires 15% of the Company’s outstanding common stock, the Company’s Board of Directors may exchange one share of the Company’s common stock for each outstanding right (other than rights owned by such person or group, which would have become void).
Prior to the acquisition by a person or group of beneficial ownership of 15% of the Company’s common stock, the rights are redeemable for one cent per right at the option of the Board of Directors.
Certain synthetic interests in securities created by derivative positions-whether or not such interests are considered to constitute beneficial ownership of the underlying common stock for reporting purposes under Regulation 13D of the Securities Exchange Act-are treated as beneficial ownership of the number of shares of the Company’s common stock equivalent to the economic exposure created by the derivative position, to the extent actual shares of the Company’s stock are directly or indirectly held by counterparties to the derivatives contracts.
The dividend distribution will be made on October 5, 2022, payable to stockholders on that date and is not taxable to stockholders. The rights will expire on the earliest of (i) the close of business on the first day following the date of the Company’s first annual meeting of its stockholders following the date of the rights plan and (ii) June 30, 2023, unless the rights are earlier redeemed or exchanged.
A copy of the stockholder rights plan will be contained in a Form 8-K to be filed with the Securities and Exchange Commission.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs that it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This 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. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this press release, including those regarding our strategy, the benefits and impacts of the rights plan, relations with shareholders, plans and objectives of management are forward-looking statements. When used in this report, the words “will,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “budgeted,” “guidance,” “expect,” “may,” “continue,” “predict,” “potential,” “plan,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the following risks and uncertainties: the severity and duration of world health events and related economic repercussions, actions by the members of the Organization of the Petroleum Exporting Countries (“OPEC”) and Russia, general economic and political conditions, our acquisition strategy, interest rates, inflationary pressures, a general economic slowdown or recession, political tensions or war, risks related to acquisitions, operational challenges, volatility in natural gas, oil and NGL prices, future cash flow and its adequacy to maintain our ongoing operations, liquidity, borrowing capacity and future covenant compliance, operating results, asset disposition efforts or the timing or outcome thereof, ongoing and prospective joint ventures, capital expenditures, impairments, availability, cost and terms of capital, timing and successful drilling and completion of wells, availability and cost for transportation of oil and natural gas, costs of exploiting and developing our properties and conducting other operations, competition in the oil and natural gas industry, opportunities to monetize assets, our ability to execute on strategic initiatives, effectiveness of our risk management activities, governmental regulation, and other risks and uncertainties discussed in the Company’s reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2021 (the “Annual Report”), and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K.
All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements. The Company’s capital budget, operating plan, service cost outlook and development plans are subject to change at any time. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved. The risk factors and other factors noted herein and in the Company's SEC filings could cause its actual results to differ materially from those contained in any forward-looking statement. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the foregoing. We undertake no obligation to publicly release the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.
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(281) 874-2700, (888) 991-SBOW
DUBLIN--(BUSINESS WIRE)--The "Green Hydrogen Market Size, Share & Trends Analysis Report by Technology (PEM Electrolyzer, Alkaline Electrolyzer), by Application (Power Generation, Transportation), by Distribution Channel, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global green hydrogen market size is expected to reach USD 60.56 billion by 2030, according to this report. The market is expected to expand at a CAGR of 39.5% from 2022 to 2030. The growing government investments and subsidies benefitting clean fuel usage along with hydrogen economy being touted as an environment-friendly alternative to fossil fuel economy are likely to strengthen the demand over the forecast period.
The market is driven by the proliferating deployment of renewable energy sources in various end-use industries. Green hydrogen is produced through the electrolysis of water, with renewable power generation sources such as wind energy, solar energy, and other renewable energy sources. Furthermore, the growing scale of renewable energy is estimated to result in lowering the cost of clean power generation, thereby positively influencing the market growth over the forecast years.
The alkaline electrolyzer segment accounted for 66.18% of the market in 2021 owing to being the conventional electrolyzer technology used in green hydrogen projects. The alkaline electrolyzer uses the liquid alkaline solution of potassium or sodium hydroxide as its electrolyte and it has higher operating hours than PEM electrolyzers. However, PEM electrolyzers are expected to witness a higher growth rate than alkaline electrolyzers in the forecast period.
The transportation segment was the largest in the application segmentation with it accounting for about 40.61% of the global green hydrogen market in 2021. The transportation industry shifting away from fossil fuels and towards renewable energy such as solar energy and green hydrogen is expected to boost the segment in the forecast period. The power generation segment is also expected to grow at a steady pace owing to reducing costs of green hydrogen production.
The pipeline segment in the distribution channel accounted for 63.11% of the market in 2021. A pipeline is the most economically viable method to transport large volumes over long distances. Cargo segmentation is expected to grow at a CAGR of 40.9% in the forecast period owing to increased demand for green hydrogen.
The market in North America is anticipated to attain a prominent growth rate over the forecast period, with U.S. and Canada leading the region owing to the implementation of clean energy policies. In the U.S., California holds the majority of the market share with the growth driven by aggressive de-carbonization targets, such as phasing out of gas or diesel-powered public buses by 2040.
Major players in the industry are focusing on innovation and technological advancements to reduce the high cost of electrolyzer units, boosting the commercialization of green hydrogen production. In addition, market participants are emphasizing practicing several strategic initiatives such as joint ventures, partnerships, mergers & acquisitions, and others to enhance their foothold in the market over the coming years.
Countries realizing their untapped potential in hydrogen markets are expected to enhance the industry landscape over the coming years. In October 2019, Siemens announced a technical partnership on a 5 GW wind and solar combined energy project in Australia. The company is expected to provide its electrolyzer technology to generate green hydrogen through renewable-powered electrolysis. The clean hydrogen produced is intended to be exported to Asian markets.
Market Dynamics
Market Drivers
Market Restraints
Key Topics Covered:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 Green Hydrogen Market: Technology Movement Analysis, 2021 & 2030
Chapter 5 Green Hydrogen Market: Application Movement Analysis, 2021 & 2030
Chapter 6 Green Hydrogen Market: Distribution Channel Movement Analysis, 2021 & 2030
Chapter 7 Green Hydrogen Market: Regional Estimates & Trend Analysis
Chapter 8 Green Hydrogen Market: Hydrogen Refueling Stations
Chapter 9 Green Hydrogen Market - Competitive Landscape
Chapter 10 Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/babciq
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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) today announced a major expansion of its partnership with South Korea’s Hyundai Heavy Industries Group by bringing Palantir Foundry to additional companies within the conglomerate. Korea Shipbuilding & Offshore Engineering (KSOE) will utilize the Palantir Foundry operating system across its shipbuilding subsidiaries — Hyundai Heavy Industries Co, Hyundai Samho Heavy Industries, and Hyundai Mipo Dockyard — in order to advance the “Future of Shipyard” vision.
Teams across the shipbuilding subsidiaries will use Foundry to help them make better, data-driven decisions, focused especially on safety and operational efficiency. During the successful pilot phase, shipbuilding teams used Foundry to improve architectural design of ships, ensure quality on production lines, and bring the power of big data analysis to standard safety procedures.
This expansion, valued at $20M over 5 years, deepens Palantir's partnership with Hyundai Heavy Industries Group and helps with the digital transformation of South Korea's storied shipbuilders.
As announced in January, Foundry is already in use across Hyundai Oilbank for crude oil selection, daily refinery operations, and more. Hyundai Doosan Infracore, another HHI Group subsidiary, has been using Foundry since 2019 for process management, parts management, supply chain optimization, and more. These contracts are valued at over $25M, bringing the total of our contracts to over $45M over 5 years.
“We will change the way we work by working with Palantir Technologies,” said Taejin Lee, CDO of HHI Group. “We aim to enhance the competitiveness of our group by setting up an environment where we can make data-based decisions.”
Today’s announcement marks a significant step towards the formation of a joint venture. In January 2022, at an executive gathering at CES in Las Vegas, the two companies signed an agreement to establish a big data platform for use across the Group and in Hyundai Heavy’s core markets in both the public and private sectors.
“Hyundai Heavy is an industrial leader working at the leading edge of some of the most complex engineering challenges that we collectively face,” said Alexander C. Karp, co-founder and chief executive officer of Palantir Technologies Inc. “We could not be more enthusiastic about expanding our partnership and are actively working to extend access to our software across Hyundai Heavy’s operations, as well as the country’s commercial and government sectors.”
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the terms and the expected benefits of the partnership. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond Palantir’s control. These risks and uncertainties include Palantir’s ability to meet the unique needs of its customers; the failure of its platforms to satisfy its customers or perform as desired; the frequency or severity of any software and implementation errors; the reliability of Palantir’s platforms; the terms and conditions of any strategic agreements or relationships; and the ability of Palantir’s customers to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties is included in the filings Palantir makes with the U.S. Securities and Exchange Commission from time to time. Except as required by law, Palantir does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Lisa Gordon
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PITTSBURGH--(BUSINESS WIRE)--Wabtec (NYSE: WAB) and Kazakhstan Temir Zholy (KTZ) signed a historic memorandum of understanding (MOU) for 150 FLXdriveTM battery-electric shunters and modernization work to transform the mainline fleet into NextFuelTM liquid natural gas-powered (LNG) locomotives. The investment marks the largest sustainable technology agreement by the CIS railroad, and will further revolutionize KTZ’s mainline and yard operations, while significantly reducing greenhouse gas emissions and operating costs.
“Since early 2000, KTZ has been the regional transportation leader in adopting state-of-the-art technologies and is honoring that legacy by pioneering the transition to a low-carbon rail network with Wabtec’s FLXdrive battery-electric technology,” said Rafael Santana, President and CEO for Wabtec. “Battery power is an ideal solution to reduce the environmental impact and costs of yard operations. Using the FLXdrive in a rail yard can significantly improve local air quality and reduce noise for neighboring communities. We are proud to partner with KTZ on this strategic investment.”
The FLXdrive shunters will be 100% battery powered with more than 1.5 megawatt hours of energy. These new shunters are a zero-emission solution for KTZ, enabling the railroad to reduce the fuel cost of its yard operations by approximately $75,000 per shunter per year. The FLXdrives also will reduce scheduled maintenance by up to 97% and avoid costly electrification investments.
To support KTZ’s mainline fleet sustainability efforts, Wabtec will provide NextFuel kits to convert the traditional diesel locomotives to LNG. Wabtec’s NextFuel LNG mainline locomotives will increase the operational range of travel by more than two-fold – from 1,300 km to 3,000 km and decrease fuel costs by up to 26%.
Wabtec and KTZ also will collaborate on digital solutions for the fleet. The first digital product is Trip Optimizer, providing fuel-efficient operation modes for freight trains to reduce fuel consumption by at least 5%. Pilot testing is planned for the fourth quarter and with successful results it will be deployed on KTZ locomotives.
Wabtec will build the FLXdrives and convert the locomotives to LNG at the LKZ facility in Nur Sultan, Kazakhstan. Production will begin in 2024.
About Wabtec
Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide. Visit Wabtec’s website at: www.WabtecCorp.com.
Media Contact:
Tim Bader
Wabtec
682-319-7925
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Investor Contact:
Kristine Kubacki, CFA
412-450-2033
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SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its Saudi Arabian subsidiary has recently been awarded a contract for $14.0 million for the King Salman Park Project - Vision 2030. The project is expected to be executed in the fourth quarter of 2022.
The project is part of major infrastructure developments planned in Saudi Arabia’s Vision 2030. The project will utilize Perma-Pipe’s pre-insulated pipes and fittings and the XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene.
Raed Al Saleh, General Manager for Perma-Pipe Saudi Arabia states, “We are pleased to be part of the King Salman Park project, and we are delighted that Al Haif Contracting have placed their trust in Perma-Pipe. It is exciting to be part of this project that will assert Riyadh as one of the most livable cities in the world.”
Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region commented, “I am glad to announce that this important project has been assigned to Perma-Pipe. The King Salman Park project attests to our leading market position in Saudi Arabia and gives us the opportunity to demonstrate our expertise and our industry-leading products and services to another new, strategically valuable customer.”
David Mansfield, President and CEO commented, "The Saudi Arabian market is becoming increasingly more active and important to us. We are delighted with this award, and the opportunity to participate in Saudi Arabia’s pursuit of its Vision 2030.”
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.
Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
847.929.1200
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LOS ANGELES--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – and Wallbox (NYSE: WBX), a leading provider of electric vehicle and energy management solutions worldwide, name Wallbox as Fisker's global partner for home EV charging solutions.
Fisker and Wallbox are partnering to offer Fisker EV owners Wallbox home EV chargers for purchase through the Fisker website in the U.S., Canada, and European launch markets. The Pulsar Plus, Wallbox's best-selling charger worldwide and one of the smallest smart universal EV chargers, will be available to the North American market through Fisker.
In Europe, Fisker will be the first OEM to offer Wallbox's Pulsar Max charger, providing localized charging solutions to drivers in seven European countries. Like Pulsar Plus, Pulsar Max delivers top charging speeds and offers the full Wallbox energy management suite, including solar charging, so users can enjoy their EVs to the fullest.
Both chargers display customized Fisker and Wallbox logos and can be installed in homes, offices, and multi-unit dwellings to provide straightforward and efficient charging.
"Fisker is laser-focused on giving our customers simple and intuitive technology combined with clever design to make owning an EV easier. Together with Wallbox, we are providing class-leading, competitively priced chargers for Fisker owners," Chairman and CEO Henrik Fisker said. "Wallbox's track record of delivering well-designed, innovative, and dependable charging systems on a global scale makes the partnership a perfect fit for our customers and our business."
"Making home charging accessible is key to accelerating the transition to EVs globally, and partnering with Fisker will allow us to support more drivers as they make the transition," said Douglas Alfaro, General Manager of Wallbox North America. "There is a natural alignment between our two brands, so we are excited to announce our partnership with Fisker."
Fisker and Wallbox also plan to offer home installation services provided by Wallbox in Europe. In the U.S. and Canada, installation services will be provided by COIL, a recent Wallbox acquisition.
Wallbox Pulsar Plus smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in the U.S. and Canada. Wallbox Pulsar Max smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in our European launch markets: Austria, Denmark, France, Germany, Norway, Sweden, and The United Kingdom. Pricing to be announced.
The Fisker Ocean, Fisker's ground-breaking all-electric SUV, is available in three trim levels: Extreme, Ultra, and Sport. The top trim Fisker Ocean Extreme travels 350 miles1 on a single charge, with dual-motor, all-wheel-drive, three driving modes, Revolve 17.1" rotating screen, SolarSky roof, California Mode, Smart Traction, and many first-to-market safety features, including the world's first digital radar, all for $68,9992 in the U.S.
Production of the Fisker Ocean is on track for November 17, 2022, at a carbon-neutral factory in Graz, Austria. Deliveries to customers will begin shortly after.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by the vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.
About Wallbox
Wallbox is a global company, dedicated to changing the way the world uses energy in the electric vehicle industry. Wallbox creates smart charging systems that combine innovative technology with outstanding design and manage the communication between vehicle, grid, building and charger. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 100 countries. Founded in 2015, with headquarters in Barcelona, Wallbox's mission is to facilitate the adoption of electric vehicles today to make more sustainable use of energy tomorrow. The company employs approximately 1,100 people in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Fisker Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology and include, among other things, the quotation of our CEO, the timing of the availability of smart chargers, the statements regarding the planned launch timing and delivery, pricing and estimated range of the Fisker Ocean, the Company's future performance, and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker's limited operating history; Fisker's ability to enter into additional manufacturing and other contracts with Magna or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed-upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, regulatory approval, launch and financing of its vehicles; Fisker's ability to execute its business model, including market acceptance of its planned products and services; Fisker's inability to retain key personnel and to hire additional personnel; competition in the electric vehicle market; Fisker's inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and those factors discussed in Fisker's Annual Report on Form 10-K, under the heading "Risk Factors", filed with the Securities and Exchange Commission (the "SEC"), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
1 Based on Fisker simulations. Actual results vary with conditions such as external environment and vehicle use. Official EPA and WLTP ratings are forthcoming.
2 Pricing shown is for the continental U.S. and excludes delivery, finance, and government charges. Maintenance is not included. Pricing depends upon specifications and options chosen by customers as they configure the actual vehicle closer to production. Pricing does not include various state and federal incentives and benefits which may be available.
Photo credit: Michael Muller
Fisker Contact:
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Fisker Inc. Communications:
Matthew DeBord
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Rebecca Lindland
Director, Communications
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Fisker Inc. Investor Relations:
Frank Boroch
VP of Investor Relations
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Wallbox Contact:
Public Relations:
Elyce Behrsin
Public Relations
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+1 404-574-1504
TULSA, Okla.--(BUSINESS WIRE)--Advances being made by NGL Energy Partners LP’s (“NGL” or “Partnership”) Water Solutions segment (“NGL Water Solutions”) in sustainable produced water reuse technology and practices were featured recently in an episode of the Emmy-nominated series Tomorrow’s World Today on the Discovery Channel. The Water from the Desert episode explores NGL’s collaboration with XRI Holdings, LLC (“XRI”) -- a collaboration providing holistic water management to their customers in the Permian Basin. Below is a link to the program:
Tomorrow's World Today NGL Episode - YouTube
This program is centered on recycling and reusing produced water in order to minimize the amount of fresh water that is needed in oil and gas activities. The episode also explores the potential for this reuse technology to push the boundary outside of oil and gas activities, including the use of recycled produced water in agricultural development and other uses in the future. “We are really pleased to share what we are doing at NGL Water Solutions to advance our reuse technology and practices so the public can see firsthand the efforts we are making to provide safe, efficient, reliable and sustainable solutions to our customers today and potentially even wider application down the road,” commented Doug White, EVP of NGL Water Solutions.
NGL owns and operates the largest integrated network of large diameter produced water pipelines, recycling facilities and disposal wells in the Delaware Basin. The Partnership’s Water Solutions segment operates in a number of the most prolific crude oil and natural gas producing areas including the Delaware Basin in New Mexico and Texas, the Midland Basin in Texas, the DJ Basin in Colorado and the Eagleford Basin in Texas.
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, treats, recycles and disposes of produced water generated as part of the energy production process as well as transports, stores, markets and provides other logistics services for crude oil and liquid hydrocarbons.
For further information, visit the Partnership’s website at www.nglenergypartners.com.
NGL Energy Partners LP
Investor Relations, 918-481-1119
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Commercial:
Christian Holcomb, 303-815-1010
Senior Vice President & Chief Operating Officer – NGL Water Solutions
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DUBLIN--(BUSINESS WIRE)--The "Offshore Oil & Gas Paints and Coatings Market By Resin, By Installation: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global offshore oil & gas paints and coatings market was valued at $537.6 million in 2020, and is projected to reach $764.9 million by 2030, growing at a CAGR of 3.7% from 2021 to 2030.
Offshore oil & gas exploration activities lead to formation of foul and corrosion layers on the vessel equipment, which are further coated system to provide protection. Moreover, continuous contact with rough seawater and prolonged exposure to penetrating UV rays adversely affect the life of coating systems.
Coatings systems for offshore structures are designed to protect the marine infrastructure from most corrosive environments. Moreover, huge investments in the exploration and production of offshore oil & gas fields in remote areas require long-term protection of these structures.
This is efficiently managed by high cost of coating materials and require less maintenance. In addition, offshore oil & gas paints and coatings have gained popularity in recent years, owing to increase in application of epoxy resin-based coats, which possess more abrasion and chemical-resistant properties, that topcoat the marine vessels, providing anticorrosive protection against atmospheric exposure.
In addition, the LAMEA offshore oil & gas paints and coatings market offers lucrative opportunities for industry players, owing to growth in exploration and drilling activities in this region. In addition, technological developments in the production of offshore oil & gas paints and coatings by manufacturers, are further expected to fuel the market growth during the forecast period.
Impact of COVID-19 on Global Offshore Oil & Gas Paints and Coatings Market
Key Market Segments
By Resin
By Installation
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/gmixhs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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OAKLAND, Calif.--(BUSINESS WIRE)--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 one trading day 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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DALLAS--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced it is further expanding its Digital AECOM offering with the launch of PipeInsights, a digital platform that helps clients deliver superior rehabilitation and maintenance outcomes for their sewer systems. The PipeInsights platform augments conventional CCTV inspections using advanced machine learning algorithms to provide automated defect detection and recommend optimal maintenance decisions.
“With PipeInsights, our clients can accelerate inspections and dedicate more time to their core mission: solving today’s critical water infrastructure challenges,” said Beverley Stinson, chief executive of AECOM’s global Water business. “We’ve applied our digital expertise and decades of experience to mitigate the inefficiencies typically associated with inspections, using artificial intelligence to rapidly review CCTV footage and identify defects. AECOM’s robust Water business line has already cemented itself as a leader in delivering safe, sanitary, and resilient sewer system solutions. Digital AECOM’s tools bolster our capabilities, enabling our clients to revitalize their water infrastructure with greater efficiency and precision.”
By seamlessly integrating footage and results into a simple geographic information system (GIS) interface, the PipeInsights platform enables users to manage multiple sewer programs simultaneously while enhancing the understanding of overall sewer system health. To date, PipeInsights has been used on real-world inspections and captured images of hundreds of thousands of defects as it continues to learn. The platform enables secure access to inspections from any mobile device, allowing users to visualize and share the health of their systems from the office or the field.
“We’re proud to launch PipeInsights and believe it will become an industry-leading product, one that provides our clients with an innovative approach to inspections and maintenance, and helps them sustain their water infrastructure more confidently and cost-effectively,” said Todd Battley, AECOM’s chief strategy officer. “PipeInsights’ accessibility and capability make it a premier solution. Users can evaluate inspection results, diagnose problems, and anticipate future needs through an intuitive platform. This commitment to simplifying challenges with technological agility defines Digital AECOM’s record of client success.”
Digital AECOM brings together the company’s global digital-focused consulting services, hosted services products, and digital tools that enhance the delivery of core engineering and design services to help clients accelerate their digital journeys and achieve better project outcomes. Leveraging the strengths of the firm’s more than 2,000 integrated digital practitioners globally and proven AECOM technology to connect data, projects, and communities, Digital AECOM is a key enabler of the company’s Sustainable Legacies strategy. To learn more about PipeInsights and how it streamlines sewer inspections, visit PipeInsights.com.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and inadequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital’s real estate development; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure, power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
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NEW YORK--(BUSINESS WIRE)--#AnaerobicDigester--H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce that it has acquired a controlling interest in Northern Biogas, LLC (“Northern Biogas” or “the Company). Northern Biogas is a leading waste-to-renewable natural gas company, specializing in the development, construction, and operation of renewable natural gas (“RNG”) facilities that represent sustainable, clean energy solutions for waste generated from dairies, landfills, and other facilities producing organic waste, including food waste.
Based in Morgantown, WV, Northern Biogas designs, builds, owns, operates, services, and maintains anaerobic digester and RNG facilities, drawing from its team’s extensive, decades-long experience of rapidly scaling and operating pipeline and gas treatment infrastructure in the natural gas industry. The Company has successfully deployed its own proprietary anaerobic digester designs at many locations across the U.S. Northern Biogas operates the Middleton, Wisconsin RNG facility, a joint venture with EnTech Solutions, whereby waste from dairy cows is converted to RNG through an anaerobic digestion process. The Company has recently received final approval to commence execution of its next two dairy RNG projects. Additionally, Northern Biogas is actively developing a number of other dairy, landfill, and food waste RNG projects across the country.
Northern Biogas’ CEO, Chris Akers said, “We appreciate H.I.G.’s confidence in our business plan and are excited to partner with H.I.G. as we continue to execute on our development pipeline of dairy, landfill, and food waste RNG projects. We are solidly positioned to provide rapid, best-in-class service to our customers and partners, given our unique combination of development experience, in-house technical knowledge, and full scale, proven construction and operation expertise, all of which are now supported by H.I.G., an outstanding financial partner.”
George Watts, Managing Director with H.I.G. Infrastructure, said, "We are delighted to be partnering with this uniquely capable management team in a dynamic part of the renewables market. The commercial opportunity is immense, and we look forward to supporting the company and the team in its growth." Ed Pallesen, Co-head of H.I.G. Infrastructure added, "We have a strong commitment to facilitating the transition to a clean energy economy, and Northern Biogas is an excellent example of our approach of investing in sustainable, critical infrastructure. This investment is a strong addition to our existing portfolio of middle market, value-add infrastructure companies."
Sidley Austin LLP served as legal counsel to H.I.G. on the transaction. Vinson and Elkins LLP served as legal counsel to Northern Biogas on the transaction.
About Northern Biogas
Based in Morgantown, WV, Northern Biogas is a waste-to-renewable natural gas company that designs, builds, owns, operates, services, and maintains anaerobic digester and renewable natural gas facilities across the U.S. Northern Biogas has decades of experience successfully developing and operating creative, sustainable clean energy solutions for its farm and industry partners. For more information, please visit www.northernbiogas.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
George Watts
Managing Director
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Ed Pallesen
Managing Director
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Third-party integration solution continues to expand with even more onboard systems
OLATHE, Kan.--(BUSINESS WIRE)--Garmin International, Inc., a unit of Garmin Ltd. (NYSE: GRMN), the world’s most innovative and recognized marine electronics manufacturer, today announced that several leading marine brands have been incorporated into OneHelm™, Garmin’s third-party integration platform. OneHelm simplifies the process of controlling onboard systems through a Garmin multifunction display (MFD), making the boating experience more automated and intuitive at the helm, while also eliminating the need for multiple control displays and devices.
“The MFD is the most visible and utilized display onboard a boat—it’s the command center of the helm,” said Dan Bartel, Garmin vice president of global consumer sales. “Garmin’s OneHelm has been simplifying the control and customization of the boat’s most crucial systems to one source, the MFD, since it launched nearly five years ago, and we’re thrilled to continue to work with so many respected marine brands to incorporate their systems and technologies into the platform in an effort to provide the best end-user experience onboard.”
The following companies are the latest to have been integrated into OneHelm:
OneHelm is currently available for the GPSMAP® 7x3/9x3/12x3 and GPSMAP 8400/8600 series chartplotters as well as the GPSMAP 8700 Black Box. To see the full list of systems and technologies that integrate with OneHelm, visit Garmin.com/OneHelm. To inquire about becoming a OneHelm industry associate, please email This email address is being protected from spambots. You need JavaScript enabled to view it..
Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most innovative, highest quality, and easiest to use marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the seventh consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Fusion® and Navionics®. For more information, visit Garmin’s virtual Newsroom, This email address is being protected from spambots. You need JavaScript enabled to view it., connect with @garminmarine on social media, or follow our adventures at garmin.com/blog.
About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, Fusion and Navionics are registered trademarks and OneHelm is a trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 25, 2021, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Carly Hysell
913-397-8200
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