LONG BEACH, Calif.--(BUSINESS WIRE)--#SouthernCalifornia--Samantha Attwood and Art Levitt have officially joined the Aquarium of the Pacific’s Board of Directors. Attwood is the worldwide head of Amazon’s Devices Technology Licensing Business Development Team and contributes to new sustainability and energy initiatives across Amazon. Levitt has headed businesses in the media, hospitality, and entertainment.
“Attwood’s experience in tech, sustainability, and conservation and Levitt’s experience in media, hospitality, and entertainment will contribute new perspectives and expertise to the Aquarium’s Board. Both of these new board members come with valuable and relevant experience that will help enhance the Aquarium’s programs,” Aquarium Board Chair Ed Feo said. “Their knowledge and leadership will also help us plan strategically and increase our impact as we approach our twenty-fifth anniversary.”
Attwood previously worked with Amazon Web Services’ energy team to negotiate renewable energy access in international regions. Prior to Amazon, Attwood worked as a researcher for The Nature Conservancy, with a focus on Endangered Species Act efficacy and agricultural system sustainability. She holds a bachelor’s degree in ecology and evolutionary biology from Yale University and an MBA in enterprise management and sustainability from the Massachusetts Institute of Technology.
Attwood is also a founding member of the #RelistWolves campaign—a grassroots coalition of conservationists, environmental nonprofit organizations, wildlife advocates, and scientists committed to raising public awareness about wolves’ importance as ecosystem guardians and advocating to restore their protections under the Endangered Species Act.
Levitt served as chief of staff of the Dalio Foundation Inc., where he managed initiatives in microfinance, oceanographic work, and marine conservation. His other previous positions include CEO of the Nielsen Company’s Media Sync Platform, venture partner at Jerusalem Venture Partners, founding CEO of Fandango, Inc., president of Disney Regional Entertainment, and president and CEO of Hard Rock Cafe, International.
Levitt earned a bachelor’s degree in biology with a marine science focus from Southampton College and completed the program for management development from Harvard University. He also serves on the board of Reefcheck.org, an organization dedicated to saving the reef ecosystem through citizen science.
The nonprofit Aquarium of the Pacific is a community gathering place where diverse cultures and the arts are celebrated and where important challenges facing our planet are explored.
Marilyn Padilla, This email address is being protected from spambots. You need JavaScript enabled to view it.
AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox (B&W) (NYSE: BW) announced today that Babcock & Wilcox Construction Co., LLC (BWCC) has been awarded a contract for approximately $42 million to provide construction and installation services for an environmental upgrade project at a U.S. power plant.
“We have significant experience and expertise in large environmental installation projects to help the U.S. power fleet continue to operate cleanly and efficiently,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “BWCC is a single-source supplier of a full range of field construction, construction management and maintenance services and our customers can count on us to execute projects on schedule and with intense focus on delivering a finished product that meets every expectation.”
BWCC’s project scope includes the modification of the plant’s environmental equipment to optimize the plant’s operation.
As with all BWCC projects, safety and finishing each day incident- and injury-free will be a top priority.
“BWCC has a strong history of performing high-quality work and executing U.S. environmental projects safely,” said BWCC Vice President and General Manager Mike Hidas. “We look forward to delivering this critical upgrade project to our customer.”
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.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the awarding of a contract to provide construction and installation services for a power plant in the United States. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
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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LOS ANGELES--(BUSINESS WIRE)--$CGRN #Biogas--Capstone Green Energy (Nasdaq: CGRN) (“Capstone”, or the “Company”), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, today announced that it has commenced an underwritten public offering of shares of its common stock and warrants to purchase shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Lake Street Capital Markets, LLC is acting as the sole book-running manager for the offering and Joseph Gunnar & Co. is acting as co-manager for the offering.
Capstone intends to use the net proceeds from the offering for working capital, general corporate purposes and growth initiatives, including to expand its Energy as a Service long-term rental fleet.
A shelf registration statement on Form S-3 (File No. 333-254547) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 22, 2021, and became effective on April 14, 2021. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the shelf registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available on the SEC's website, located at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus may be obtained, when available, from Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by calling (612) 326-1305, or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it.. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus, together with the information incorporated therein, for more complete information about Capstone and the proposed offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Capstone:
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.
Forward-Looking Statements:
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s proposed offering and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” "goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, risks that the proposed offering is not completed due to market conditions, failure to satisfy the conditions to closing of the offering or other factors and other risks described in the Company's prior press releases and in its filings with the SEC, including under the heading "Risk Factors" in the Company's preliminary prospectus supplement and accompanying prospectus related to the proposed offering and any other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise this press release (including any forward-looking statements contained herein), whether as a result of new information, changed circumstances or future events or for any other reason, except as required by law. Furthermore, the Company cannot guarantee future results, events, levels of activity, performance, projections or achievements.
Investor Relations:
Capstone Green Energy
Investor and investment media inquiries:
(818)-407-3628
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BERLIN--(BUSINESS WIRE)--#EUGreenDeal--To become independent of Russian natural gas imports by 2027, the European Union is increasing near-term imports of US or Azerbaijan liquefied natural gas (LNG) or liquefied petroleum gas (LPG). The main element of LNG, methane, is the second leading greenhouse gas contributing to climate change. Environmental organizations warn that long-term supply contracts for the fossil LNG will undermine the European Green Deal. The German company Graforce has developed a methane electrolysis technology (plasmalysis) that uses LNG or LPG to produce hydrogen and solid carbon for dioxide-free energy generation. Compared to water electrolysis, plasmalysis requires only one fifth the energy to produce the same amount of hydrogen.
Plasmalysis is an electro-chemical technology that converts incoming LNG/LPG into clean-burning hydrogen and solid, high-purity carbon. A high-frequency plasma field generated by renewable electricity splits energy-rich hydrocarbon compounds (10kWh/kg H2) into hydrogen and solid carbon. This can be sequestered long-term in steel, cement or for soil enhancement.
“The EU can still achieve its decarbonization targets if LNG or LPG is not burned but rather converted into hydrogen and solid carbon using green electricity and our hydrogen plants directly at the terminal or at decentralized locations,” said Dr. Jens Hanke, CTO of Graforce.
Graforce has already built two demo plants – in Berlin and Brandenburg. Three additional projects with renowned investors will be completed by the end of this year: a Methane Plasmalyzer® for decarbonizing natural gas and producing solid carbon in an Austrian refinery, and two for carbon dioxide-free heat and energy generation in a hotel and a 40,000 square meter urban district in Germany.
For the development and customer-specific scaling of its modular plants, Graforce works with global leaders in the fields of engineering, procurement, and construction. The company is currently in the process of expanding its strategic partnerships with financial as well as strategic investors to quickly scale its hydrogen technology worldwide.
About
The German company Graforce is the technology leader in sustainable solutions and carbon dioxide removal technologies. The power-to-X plants produce dioxide-free or -negative hydrogen and synthetic feedstocks – with the highest efficiency and lower infrastructure costs in the multi-megawatt range. Thus, Graforce decarbonizes fossil energies, industrial sectors and the heat, transport and building sectors. www.graforce.com/EN
Graforce GmbH
Dr. Jens Hanke
Johann-Hittorf-Str. 8
12489 Berlin
Germany
Phone: +49 30 - 63 2222-110
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VENLO, the Netherlands--(BUSINESS WIRE)--QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) today released its 2021 Sustainability Report, outlining significant achievements in the areas of Environment, Social and Governance (ESG) as part of its strategy to become a stronger and more sustainable leader in providing Sample to Insight solutions that unlock valuable molecular insights for customers in the Life Science and Molecular Diagnostics industries.
“As the world faces key challenges, from international peace to climate change, at QIAGEN we are acting to show we are more than just a business. We are striving to widen access to healthcare for the world’s most vulnerable people, and taking action to protect our environment – for example by lowering our greenhouse gas intensity, reducing plastic packaging, and launching eco-friendly sample processing kits”, said Thierry Bernard, CEO of QIAGEN. “We made significant progress in 2021, but we still have much to do – and no time to lose. I am proud of the ongoing commitment of our more than 6,100 QIAGENers around the world who are making an impact every day in line with our vision of making improvements in life possible.”
Environment: visible progress in lowering greenhouse gas intensity
In terms of environment, the report lays out the company’s energy and emissions strategies. In 2021, QIAGEN lowered its greenhouse gas intensity, i.e., its Scope 1 and 2 emissions divided by net sales, by 16% compared to the previous year. The company recently committed to reducing carbon emissions to reach net zero by 2050. By 2030, the company aims to reduce scope 1 and 2 emissions by 42% through electric vehicles, green electricity, LED lighting and green heating solutions, among others. QIAGEN is already drawing 40% of its electricity from “green” power suppliers.
Similarly, plastic usage is also sinking, with the current footprint measuring 9.6% smaller compared to the previous year. For example, QIAGEN introduced plant-based material alternatives – either based on straw or paper – to replace the expanded polystyrene coolers in cold-chain shipments in 2021. QIAGEN also launched the first kits in the eco-friendly QIAwave portfolio of sample processing kits. Thanks to less internal plastic packaging, smaller bottles and collection tubes made of 100% recycled plastic, the new kit design needs up to 63% less plastic and 42% less cardboard.
Social: committed to leaving no-one behind
One of QIAGEN's key ESG goals is to improve access to healthcare globally. E.g., the company is committed to expanding screening for tuberculosis (TB) with modern blood-based assays for latent TB infection in regions with high rates of disease but limited resources. In 2021, the company reached a major milestone: more than 100 million QuantiFERON tests for tuberculosis have been made available in over 130 countries. QIAGEN launched QIAreach QuantiFERON-TB (QIAreach QFT), a test featuring ultrasensitive digital detection built into a fully portable device, in October 2021. It is ideal for low-resource, decentralized and rural areas.
Also in 2021, the company’s test kits have enabled screening of one million women for human papillomavirus (HPV), which can lead to cervical cancer. Here, too, QIAGEN focuses on low-resource areas.
“Our aim to provide equitable access to all QIAGEN products is proof of our commitment to leaving no one behind. Across all regions and business areas, we are working to ensure low-resource settings and vulnerable populations can access affordable diagnostics solutions to prevent disease and improve health and wellbeing,” said Thierry Bernard.
Governance: responsible business conduct is key to long-term success
The governance of an organization – how it operates and treats customers, staff, suppliers and communities – has great impact on all stakeholders. As one example, the global procedures of QIAGEN for clinical studies are conducted according to the Declaration of Helsinki Good Clinical Practice and ISO 20916.
QIAGEN is committed to conducting business lawfully, ethically and with high integrity around the world. To support this commitment, a comprehensive Compliance Program has been established that extends to all QIAGEN employees as well as third-party intermediaries such as distributors or agents. As an example, all new suppliers are required to commit to strict QIAGEN procurement standards. Employees also receive regular in-person compliance training, complemented by mandatory online trainings in their local language. In 2020 and 2021, our employees completed more than 7,000 training modules.
Recognized for sustainability efforts
For its sustainability efforts QIAGEN was recognized by the rating agencies ISS-ESG, MSCI as well as Sustainalytics which all specialize in sustainability.
ISS-ESG has awarded QIAGEN “Prime” status (ISS ESG C+), placing it among the top 20% of the 199 companies listed in the “Health Care Equipment & Supplies” sector. ISS-ESG evaluates more than 100 industry-specific indicators. In its first rating by MSCI ESG Research, QIAGEN received the grade A. The MSCI rating shows how resilient a company is to long-term, financially relevant ESG risks. Sustainalytics ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks. In its most recent rating, it placed QIAGEN once again in the low-risk group.
The full 2021 Sustainability Report can be downloaded here: https://www.qiagen.com/us/sustainability
About QIAGEN
QIAGEN N.V., a Netherlands-based holding company, is the leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions tie these together in seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics). As of June 30, 2021, QIAGEN employed approximately 6,100 people in over 35 locations worldwide. Further information can be found at http://www.qiagen.com
Forward-Looking Statement
Certain statements contained in this press release may be considered 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. To the extent that any of the statements contained herein relating to QIAGEN's products, collaborations markets, strategy or operating results, including without limitation its expected adjusted net sales and adjusted diluted earnings results, are forward-looking, such statements are based on current expectations and assumptions that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations, regulatory processes and dependence on logistics), variability of operating results and allocations between customer classes, the commercial development of markets for our products to customers in academia, pharma, applied testing and molecular diagnostics; changing relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN's products (including fluctuations due to general economic conditions, the level and timing of customers' funding, budgets and other factors); our ability to obtain regulatory approval of our products; difficulties in successfully adapting QIAGEN's products to integrated solutions and producing such products; the ability of QIAGEN to identify and develop new products and to differentiate and protect our products from competitors' products; market acceptance of QIAGEN's new products and the integration of acquired technologies and businesses. For further information, please refer to the discussions in reports that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange Commission (SEC).
Source: QIAGEN N.V.
Category: Corporate
QIAGEN:
Investor Relations
John Gilardi, +49 2103 29 11711
Phoebe Loh, +49 2103 29 11457
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Public Relations
Thomas Theuringer, +49 2103 29 11826
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Accelerating the Clean Energy Transition for Gas Turbine Power Generation
TAEAN-GUN, CHUNGCHEONGNAM-DO, South Korea & LEAWOOD, Kan. & JUPITER, Fla.--(BUSINESS WIRE)--KOWEPO, Tallgrass, and Power Systems Mfg, LLC (PSM) today announced their agreement to collaborate on key infrastructure investments for the conversion of natural gas-fired power generation to clean hydrogen fuel use in the United States. Focused on investment in utility-scale hydrogen-to-power projects in the United States, the parties will leverage KOWEPO’s global experience in power generation and asset management, Tallgrass’ experience throughout the U.S. in traditional and decarbonized energy infrastructure, supply and logistics, and PSM’s innovative, fuel-flexible FlameSheet™ gas turbine combustion system retrofit solution, part of their global multi-OEM aftermarket services portfolio.
Se-moon Lee, Head of New Overseas Business Department from KOWEPO, said, “We are delighted to cooperate with Tallgrass and PSM, which have expertise in clean hydrogen co-fired power generation projects. This cooperation is expected to greatly contribute to the ‘2050 carbon neutral’ vision of KOWEPO through sustainable energy transition. KOWEPO is developing a hydrogen co-firing project in The Netherlands and a green ammonia production project in UAE. By partnering with Tallgrass and PSM, we have a new opportunity to enter the US power industry and will help expand the foundation to meet future decarbonized energy needs in the US.”
“We are pleased to work with KOWEPO and PSM on another important step to spur investment in decarbonizing U.S. power generation through clean hydrogen,” said Blake Hotzel, Tallgrass’ Vice President of Business Development. “This initiative, coupled with our investments in the Escalante H2 project in New Mexico and the Trailblazer CO2 conversion project, reflects our expanding commitment to decarbonization broadly across the energy industry. By teaming with KOWEPO and PSM, we can advance investment in the type of affordable, reliable and dispatchable decarbonized energy that will be critical to meeting future energy needs in the US.”
“Today’s installed fleet of gas turbines play a fundamental role in the US grid infrastructure by offering reliable, flexible and responsive capacity, complementing the growing portfolio of intermittent, zero emission renewable power,” said Jeff Benoit, PSM’s Vice President for Clean Energy Solutions. “Our FlameSheet™ combustor retrofit, first installed in OEM gas turbines in 2015, will ultimately enable operational flexibility with 0-100% clean hydrogen and single digit NOx emissions, allowing these ‘future-proof’ assets to fully participate in our country’s clean energy transition. By partnering with Tallgrass and KOWEPO, we will pull this vision forward.”
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the execution of definitive collaboration documents; the identification and selection of suitable utility-scale hydrogen-to-power projects for investment; the successful development and completion of the projects; the expectation that these projects will achieve the stated carbon offset and power generation goals; and the expected benefits, economic or otherwise, of the proposed projects to local communities and the broader US. Such statements are subject to several assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About KOWEPO
KOWEPO is one of six generation subsidiaries of Korea Electric Power Corporation(“KEPCO”). We have a domestic generation capacity of 11,441MW, or approximately 8.6% of total electricity generation capacity in Korea. Based on our mission to contribute to social development by creating safe and clean energy through continuous innovation, we plan to expand our generation capacity and enhance our generating systems in the electricity generation industry both domestically and internationally. In particular, given a shift in the energy paradigm that focuses on the environment, we are fully committed to increasing the portion of electricity we generate using renewable and alternative energy sources. Learn more at KOWEPO.com.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.
About PSM
Jupiter, Florida-based PSM, a wholly owned subsidiary of Hanwha Group, is the leading high-technology aftermarket service provider for multi-OEM platform gas turbine power plants worldwide. Our mission is to provide our own technology-enabled solutions that improve operational performance, fuel flexibility and maintenance life cycle costs for the asset owners. Complementing this service business is our portfolio of advanced, high-hydrogen fuel-flex combustion system retrofit solutions. Learn more at PSM.com.
KOWEPO Media Inquires
Seok Hee Lee, +82 41 400 1295
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Tallgrass Media Inquiries
Steven Davidson, 817-988-4284
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PSM Media Inquires
Jeff Benoit, +1 561 262 5211
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Bunge has once again been named as a Most Loved Workplace®, backed by Best Practice Institute (BPI) research and analytics, for its collaboration, leadership and alignment with values
ST. LOUIS--(BUSINESS WIRE)--Bunge (NYSE:BG), a global leader in agribusiness, food and ingredients, announced today that is has been honored with the certification of being a Most Loved Workplace® for 2022. This is the second year in a row the company has been recognized by the Best Practice Institute for being a place where employees love to work. The validation provides a thorough look at how companies align business outcomes and benefits with core values and support.
“We are so proud of our team around the world that values acting as one team, driving for excellence and doing what’s right. The Most Loved Workplace designation is a strong reminder of the incredible talent we have and the support we provide to one another. Our employees should be very honored to be recognized for their passion and commitment,” said Greg Heckman, Bunge’s Chief Executive Officer.
Bunge has been certified as a Most Loved Workplace® based on the scores it received within the index from surveyed employees on key factors including collaboration, vision, respect, company practices, alignment with values and the strength of leadership. More information about Bunge’s certification can be found here.
Bunge has almost 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries. The company has been investing and growing, using technology and digital solutions to make it easier to innovate and increase efficiency. If you want to find out more about career opportunities, check out openings at jobs.bunge.com. You can also learn more about what is like to work for Bunge by following the company on LinkedIn, Instagram and Facebook.
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper. As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they’re grown to where they’re consumed. At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company is headquartered in St. Louis, Missouri, and we have almost 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
Website Information
We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
Investor Contact:
Ruth Ann Wisener
Bunge Limited
636-292-3014
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Media Contact:
Bunge News Bureau
Bunge
636-292-3022
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EnFocus™ “Simple, Secure, Healthy Light” for Retrofit or New Construction Installations Over Existing Power Lines is Now Available
SOLON, Ohio--(BUSINESS WIRE)--#CircadianLighting--Energy Focus, Inc. (NASDAQ: EFOI), a leader in sustainable, energy efficient LED lighting control systems and products for the commercial, military maritime and consumer markets introduces the updated EnFocus™ Power Line Controlled commercial LED lighting system that is simpler to install, commission and operate and less costly than other dimming and color tuning systems. EnFocus™ offers dimming, and color tuning control over retrofit lamps, including tubular LEDs, A19 and BR30 LED lamps with availability planned for LED flat panel and downlight fixtures. EnFocus™ delivers simple, safe, and reliable retrofit lighting across any industrial or commercial building over existing wire lines, making it a turnkey solution without the reliability and security concerns of wireless controls or the high costs of adding control wiring.
EnFocus’™ patented power line control capability, including dimming and color tuning, is now available in both 3 Amp and 8 Amp wall switches -- serving the broad needs of health care, elder care, education, and military sectors plus a host of other industrial and commercial applications including hospitality and retail.
Rick James, Director of Operations for The Bryce Jordan Center at Penn State University commented, “Bryce Jordan Center installed the EnFocus™ system in five spaces. Two of these spaces serve diverse clients with different needs in our meeting rooms. The ability to change the brightness and Kelvin color temperature output enables us to provide clients softer or brighter light to serve their needs. EnFocus™ allowed us a simple retrofit solution, with a user-friendly interface that was easily adopted by our guests and clients. This flexibility in our space lighting gives us an advantage that many other buildings do not have and presents a progressive edge to our clients.”
Greg Galluccio, Senior Vice President, Product Management and Engineering concluded, “With the introduction of the EnFocus™ update, Energy Focus builds upon its established reputation for LED lighting industry innovation and quality. Our updated line of EnFocus™ power line control products that enable hard wired, digital dimming and color tuning control over existing wirelines demonstrates our commitment to provide flexible and cost-effective lighting solutions to the commercial marketplace. By delivering ‘simple, secure, healthy light,’ we create a more robust business proposition for better lighting environments for our customers and their end users around the world.”
Additional Information and Order Inquiries for the EnFocus™ Power Line Controlled System can be found at https://energyfocus.com/products/.
About Energy Focus
Energy Focus is an industry-leading innovator of sustainable light-emitting diode (“LED”) lighting and lighting control technologies and solutions, as well as UVC Disinfection (“UVCD”) technologies and solutions. As the creator of the first flicker-free LED lamps, Energy Focus develops high quality LED lighting products and controls that provide extensive energy and maintenance savings, as well as aesthetics, safety, health, and sustainability benefits over conventional lighting. Our EnFocus™ Power Line Control (“PLC”) platform enables existing and new buildings to provide quality, convenient and affordable, dimmable, and color-tunable, autonomous circadian and human-centric lighting capabilities. In addition, our patent-pending UVCD technologies and products aim to provide effective, reliable, and affordable UVCD solutions for buildings, facilities and homes. Energy Focus’ customers include U.S. and U.S. ally navies, U.S. federal, state and local governments, healthcare, and educational institutions, as well as Fortune 500 companies. Since 2007, Energy Focus has installed approximately 900,000 lighting products across the U.S. Navy fleet, including tubular LEDs, waterline security lights, explosion-proof globes, and berth lights, saving more than five million gallons of fuel and 300,000 man-hours in lighting maintenance annually. Energy Focus is headquartered in Solon, Ohio. For more information, visit our website at www.energyfocus.com.
Forward-Looking Statements:
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “feels,” “seeks,” “forecasts,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could” or “would” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies, capital expenditures, and the industry in which we operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Although we base these forward-looking statements on assumptions that we believe are reasonable when made in light of the information currently available to us, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and industry developments may differ materially from statements made in or suggested by the forward-looking statements contained in this release. We believe that important factors that could cause our actual results to differ materially from forward-looking statements include, but are not limited to: (i) instability in the U.S. and global economies and business interruptions experienced by us, our customers and our suppliers, particularly in light of supply chain issues, and related long-term impacts on travel, trade and business operations, as a result of the COVID-19 pandemic; (ii) the competitiveness and market acceptance of our LED lighting, control and UVCD technologies, services and products; (iii) our ability to compete effectively against companies with lower prices or cost structures, greater resources, or more rapid development capabilities, and new competitors in our target markets; (iv) our ability to extend our product portfolio into new end markets, including consumer products; (v) our ability to realize the expected novelty, effectiveness, affordability and availability of our UVCD products and their appeal compared to other competing products; (vi) our ability to increase demand in our targeted markets and to manage sales cycles that are difficult to predict and may span several quarters; (vii) the timing of large customer orders, significant expenses and fluctuations between demand and capacity as we manage inventory invest in growth opportunities; (viii) our ability to successfully scale our network of sales representatives, agents, distributors and other channel partners to compete with the sales reach of larger, established competitors; (ix) our ability to implement plans to increase sales and control expenses; (x) our reliance on a limited number of customers for a significant portion of our revenue, and our ability to maintain or grow such sales levels; (xi) our ability to add new customers to reduce customer concentration; (xii) our need for and ability to obtain additional financing in the near term, on acceptable terms or at all, to continue our operations; (xiii) our ability to refinance or extend maturing debt on acceptable terms or at all; (xiv) our ability to continue as a going concern for a reasonable period of time; (xv) our ability to attract and retain a new chief executive officer and a new chief financial officer; (xvi) our ability to attract, develop and retain qualified personnel, and to do so in a timely manner; (xvii) our reliance on a limited number of third-party suppliers and development partners, our ability to manage third-party product development and obtain critical components and finished products on acceptable terms and of acceptable quality despite ongoing global supply chain challenges, and the impact of our fluctuating demand on the stability of such suppliers; (xviii) our ability to timely, efficiently and cost-effectively transport products from our third-party suppliers by ocean marine and other logistics channels despite global supply chain and logistics disruptions; (xix) the impact of any type of legal inquiry, claim or dispute; (xx) the general macro-economic conditions, including recessionary trends, in the United States and in other markets in which we operate or secure products, which could affect our ability to obtain raw materials, component parts, freight, energy, labor, and sourced finished goods in a timely and cost-effective manner; (xxi) our dependence on military maritime customers and on the levels and timing of government funding available to such customers, as well as the funding resources of our other customers in the public sector and commercial markets; (xxii) business interruptions resulting from geopolitical actions, such as war and terrorism, natural disasters, including earthquakes, typhoons, floods and fires, or from health epidemics, or pandemics or other contagious outbreaks; (xxiii) our ability to respond to new lighting and air disinfection technologies and market trends; (xxiv) our ability to fulfill our warranty obligations with safe and reliable products; (xxv) any delays we may encounter in making new products available or fulfilling customer specifications; (xxvi) any flaws or defects in our products or in the manner in which they are used or installed; (xxvii) our ability to protect our intellectual property rights and other confidential information, and manage infringement claims made by others; (xxviii) our compliance with government contracting laws and regulations, through both direct and indirect sale channels, as well as other laws, such as those relating to the environment and health and safety; (xxix) risks inherent in international markets, such as economic and political uncertainty, changing regulatory and tax requirements and currency fluctuations, including tariffs and other potential barriers to international trade; (xxx) our ability to maintain effective internal controls and otherwise comply with our obligations as a public company; and (xxxi) our ability to maintain compliance with the continued listing standards of The Nasdaq Stock Market. For additional factors that could cause our actual results to differ materially from the forward-looking statements, please refer to our most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
Media Contact:
DGI Comm
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ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announces today that Rainer H. Bosselmann, Founder, Chairman and Chief Executive Officer retired effective August 16, 2022. The Board of Directors of Argan (the “Board”) has appointed David H. Watson to succeed Mr. Bosselmann as President and Chief Executive Officer (“CEO”) and Mr. Watson will also join the Board.
“On behalf of the Board, the management team, and Argan’s employees, we want to thank Rainer for his leadership and significant, positive impact over almost two decades with the organization,” said James Quinn, Argan’s lead independent board member. “A steadfast and conservative leader, Rainer founded Argan in 2003 and fostered the management team that is in place today. During his tenure, he played a significant role in transforming the Company from a small, $30 million company to an international business with annual revenues and a market cap that exceed $500 million today. He built up the balance sheet, focused on margins, empowered employees throughout the organization and returned to shareholders approximately $175 million in dividends and $75 million in share repurchases. In addition, Rainer was instrumental in the evolution of Argan with the transformative acquisition of Gemma Power Systems in 2006. The Board is sincerely grateful to Rainer for his dedication to Argan and positive impact on shareholder value. We are all thankful that he has agreed to continue serving as a member of the Board.”
“David has worked closely with me as Chief Financial Officer (“CFO”) of Argan for almost seven years and the transition should be seamless,” said Mr. Bosselmann. “He has a deep understanding of our businesses, good rapport with investors and a strong track record of leadership and execution.”
“I want to thank Rainer and the Board for their confidence in me as I step into this role,” said Mr. Watson. “These are big shoes to fill and I pledge to work tirelessly with all of our employees to build on past successes and to lead the Company into its future.”
With Mr. Watson taking on the President and CEO position, long time Corporate Controller, Richard H. Deily, will step into the CFO position. Mr. Deily joined the Company in October 2007 and has worked closely with Mr. Watson and Mr. Bosselmann over the years. Additionally, current Board member William F. Leimkuhler has been appointed Chairman of the Board.
About Argan, Inc.
Argan’s primary business is providing a full range of services to the power industry, including the renewable energy sector. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company’s future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, the Company’s ability to successfully complete the projects that it obtains and the resurgence of the COVID-19 pandemic due to the spread of various variants. The Company has several signed EPC contracts that have not started and may not start as forecasted due to market and other circumstances beyond its control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company’s SEC filings.
Company Contact:
David Watson
301.315.0027
SAN FRANCISCO--(BUSINESS WIRE)--Motive, the leader in Automated Operations, has published a study showing that businesses can improve fuel efficiency and optimize vehicle maintenance by using data insights and AI-powered automation.
In the study, Motive analyzed over 800 commercial fleets across a two-year period beginning in January 2020, identified what top fleets with the best fuel performance increase did to improve their fuel efficiency, and measured their impact. Top-performing fleets used the Motive Automated Operations Platform insights to reduce fuel consumption by 13%. Using fuel performance data and identifying coaching opportunities, these fleets achieved savings by improving driving behaviors, averaging 79% reduction in hard acceleration, 40% reduction in hard braking, and 20% reduction in idling time. The top fleets also had an increased focus on maintenance, with 80% more inspections compared to other fleets.
Motive enabled the top fleets in the sample to save an estimated three million gallons of fuel in 2021 alone. This is equivalent to 31,000 tons of CO2 that were not released into the atmosphere. Motive fleets paid an average price of $3.29 per gallon of fuel during this time, which equates to an average savings of 769 gallons or $2,530 per vehicle in 2021.
The Motive Vehicle Gateway captures telematics data across a wide range of light, medium and heavy duty vehicles. Motive uses AI to analyze vehicle telematics data, surface insights, and automate the coaching of drivers to improve performance. From the Motive Fleet Dashboard, customers can monitor vehicle activity, driver behavior, engine diagnostics, compare benchmarks, and take action to improve their operations.
“The data clearly shows that using telematics data and AI to track and improve performance in commercial fleets can result in significant savings on fuel costs and emission,” said Jai Ranganathan, Chief Product Officer at Motive. “This is part of our commitment to leveraging data and automation across our entire suite of products to improve safety, productivity, and profitability for the businesses that power the physical economy.”
The complete Motive 2022 Fuel ROI Report can be found here.
About Motive
Motive builds technology to improve the safety, productivity, and profitability of businesses that power the physical economy. The Motive Automated Operations Platform combines IoT hardware with AI-powered applications to automate vehicle and equipment tracking, driver safety, compliance, maintenance, spend management, and more. Motive serves more than 120,000 businesses across a wide range of industries, including trucking and logistics, construction, oil and gas, food and beverage, field service, agriculture, passenger transit, and delivery. Visit gomotive.com to learn more.
Lubor Ptacek
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.024500 per unit, payable on September 15, 2022 to unitholders of record on August 31, 2022. The net profits interest calculation represents reported oil production for the month of May 2022 and reported natural gas production during April 2022. The calculation includes accrued costs incurred in June 2022.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
37,350 |
|
1,205 |
|
297,117 |
|
9,904 |
|
$ |
107.77 |
|
$ |
5.37 |
Prior Month |
|
41,122 |
|
1,371 |
|
301,477 |
|
9,725 |
|
$ |
105.29 |
|
$ |
4.52 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $4.0 million for the current month on realized wellhead prices of $107.77/Bbl, down $0.3 million from the prior month’s oil cash receipts.
Recorded natural gas cash receipts from the Underlying Properties totaled $1.6 million for the current month on realized wellhead prices of $5.37/Mcf, up $0.2 million from the prior month.
Total accrued operating expenses for the period were $2.7 million, an increase of $0.5 million from the prior period. Capital expenditures decreased $1.9 million from the prior period to $1.7 million, but remained elevated compared to prior months in 2022 given continued elevated operator activity, including a Haynesville refract by a large operator and a number of Permian workover activities.
Given the increase in rig count and operator activity on the Underlying Properties, COERT Holdings 1 LLC (the “Sponsor”) has notified the Trustee that it is withholding $0.1 million from the current month’s net profits to be added to the Sponsor’s previously established cash reserve for approved, future development expenses this year. With this addition, the total reserve is currently approximately $0.7 million. This reserve is intended to fund an expected increase in development expenses; however, if those expenses are ultimately delayed or are less than expected, or if the outlook changes, amounts reserved but unspent will be released as an incremental cash distribution in a future period.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders and expectations regarding the cash reserve for future development expenses. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2021 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 25, 2022. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
SAN DIEGO--(BUSINESS WIRE)--In response to rising cybersecurity vulnerabilities within the Power and Utilities (P&U) sector, Dalrada Financial Corporation (OTCQB: DFCO, "Dalrada Corporation,” Dalrada") – an innovator in clean energy, healthcare, and technology – announced today the appointment of cyber intelligence industry expert, Heather McMahon, to its Clean Energy Advisory Board.
Ensuring data security is paramount to the ongoing success of clean energy technology, and preventing cyber-attacks on energy infrastructure can eliminate industry breaches and shut-downs before they become national, regional, and local emergencies.
Now, more than half (53%) of P&U cybersecurity leaders are concerned about the ability to manage threats, as the sector presents an attractive target due to its societal impact. Across all sectors of the energy industry, companies today are faced with more extensive and sophisticated threats, including weak links in supply chains and increased vulnerability with the ongoing adoption of digital transformation initiatives. (Source: EY Global Information Security Survey)
Brian Bonar, Chairman and CEO of Dalrada states, “Protecting energy infrastructure from cybersecurity threats is a vital component of ESG, as integrating disruptive clean energy technologies adds to network complexity. For this reason, Dalrada welcomes Heather McMahon to the Clean Energy Advisory Board. Her expert guidance provides tremendous value to Dalrada, its clean energy initiatives, and its ESG clients.”
Ms. McMahon’s experience spans more than two decades of directing the U.S. Department of Defense’s national security and counterintelligence efforts across multi-billion-dollar programs with more than 4.5 million personnel worldwide. Currently serving as the Professor of Practice and Deputy Executive Director at UMD Applied Research Lab for Intelligence & Security, Ms. McMahon previously held the position of Senior Director of the U.S. President's Intelligence Advisory Board.
Dalrada's agility allows it to respond immediately to demands for advanced ESG resources and safer alternative products and services that provide significant value and benefit. The Company continuously creates innovative, impactful solutions to address the complex challenges of today and the future. To learn more about Dalrada Corporation, please visit www.Dalrada.com.
About Dalrada (DFCO)
Dalrada Corporation drives innovation that positively impacts people, businesses, and the planet. With subsidiaries that are firmly positioned in the world's top three-growing industries of healthcare, clean energy, and technology, Dalrada creates solutions that are sustainable, affordable, and accessible.
The company works continually to produce disruptive products and services that accelerate positive change for current and future generations. Dalrada's global solutions directly address climate change, post-pandemic gaps in the healthcare industry, and technology solutions for a new era of human behavior and interaction, ensuring a bright future for the world around us.
Established in 1982, Dalrada has since grown its footprint to include the unique business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. Please visit www.dalrada.com and follow us on Twitter, Facebook, and LinkedIn for more information.
Disclaimer
Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Michael Eslinger
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BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--The Board of Directors of GrafTech International Ltd. (NYSE:EAF) (the “Company”) declared a quarterly cash dividend of $0.01 per share to stockholders of record as of the close of business on August 31, 2022, to be paid on September 30, 2022.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, a key raw material for graphite electrode manufacturing. This unique position provides us with competitive advantages in product quality and cost.
Michael Dillon
216-676-2000
SOLDOTNA, Alaska--(BUSINESS WIRE)--Yamaha U.S. Marine Business Unit and the Alaska Maritime Education Consortium (AMEC) signed a Yamaha Marine Training Program Agreement under Yamaha’s Technical School Partnership Program. This Agreement will establish a comprehensive Yamaha marine technical training program throughout the state, specifically in remote regions.
Governor Mike Dunleavy, Dr. Tamika L. Ledbetter, Commissioner, Alaska Department of Labor and Workforce Development, and University of Alaska President Pat Pitney signed the Training Program Agreement during the 2022 Kenai Classic, establishing an infrastructure for Yamaha Marine products training across the state.
Under the Agreement, Yamaha will provide training curricula and will train the trainers for the program. In addition, Yamaha will allow AMEC to acquire materials at or below cost, including outboard motors and tools. AMEC is a partnership between the University of Alaska and the Alaska Department of Labor and Workforce Development, Alaska Vocational Technical Center.
“This program is now a reality thanks to the efforts of the late Congressman Don Young, who originally brought the need for more technicians in remote areas to our attention,” said Ben Speciale, President, Yamaha U.S. Marine Business Unit. “He inspired us to improve our level of service to customers in Alaska and encouraged us to redouble our efforts to train technicians.”
The maritime business in Alaska includes 34,000 miles of coastline that produces more than 60 percent of the nation’s seafood harvest and generates millions of dollars for the state’s economy. Many Alaskan communities depend on a skilled workforce to service the boats and outboards that fuel a healthy, sustainable marine industry.
“Alaska has more coastline than all of other 49 states combined making the maritime sector one of the great growth industries in our state,” said Governor Mike Dunleavy. “I look forward to Alaskans reaping the benefits of this unique partnership with Yamaha.”
The agreement between Yamaha and AMEC also expands the Yamaha Tech School Partner (TSP) program. Developed in 2015, Yamaha’s TSP program aims to develop a stronger marine technician workforce through a certified curriculum, Yamaha systems access and product donations used in the classroom for hands-on training. The AMEC network includes six training locations strategically positioned in coastal communities throughout Alaska and is committed to working with other educational institutions in Alaska to increase access to this and other training. There are currently more than 100 technical schools participating in the Yamaha TSP program including Prince William Sound College in Valdez, which is part of AMEC and serves as an example for the new program.
The facilitation and growth of Yamaha Marine’s technical school relationships led to the development of Yamaha-sponsored curricula available to technical schools for use in the classroom. The first curriculum, titled “Introduction to Outboard Systems,” (ITOS) includes textbook materials and hands-on learning experiences for students who wish to learn more about Yamaha outboard maintenance. ITOS will be the initial course offering through the new agreement in Alaska.
The Alaska Maritime Education Consortium (AMEC) is a partnership between The University of Alaska (UA) and the Alaska Vocational Technical Center (AVTEC). The mission of the AMEC is to “collaborate to prepare Alaskans for afloat and ashore careers that will support and strengthen the maritime workforce” by combining efforts to provide maritime training and education across the state. These careers align with the priority occupations in boat and ship building, vessel repair and maintenance, port maintenance, and vessel operations identified in the 2014 Alaska Maritime Workforce Development Plan.
Yamaha U.S. Marine Business Unit, based in Kennesaw, Ga., markets and sells marine outboard motors ranging in size from 2.5 to 425 horsepower. It also markets and sells fiberglass, jet-drive sport boats ranging from 19 to 27 feet, and personal watercraft. The unit includes manufacturing divisions of Yamaha Marine Systems Co., Inc., including Kracor of Milwaukee (rotational molding), Bennett Marine of Deerfield Beach, Fla. (trim tabs), and Yamaha Marine Precision Propellers of Indianapolis (stainless steel propellers). Yamaha Marine Group is a division of Yamaha Motor Corporation, U.S.A., based in Cypress, Calif.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
Nicholas Genesi
Public Relations Manager
Yamaha U.S. Marine Business Unit
Mobile: (470) 898-7278
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Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
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EL DORADO, Ark.--(BUSINESS WIRE)--The Board of Directors of Murphy USA Inc. (NYSE: MUSA) today declared a quarterly cash dividend on the Common Stock of Murphy USA Inc. of $0.32 per share, or $1.28 per share on an annualized basis, reflecting a 3% increase from the prior quarter. The dividend is payable on September 8, 2022, to stockholders of record as of August 30, 2022.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 240 among Fortune 500 companies.
Forward-Looking Statements
Certain statements in this news release contain or may suggest “forward-looking” information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainties, including, but not limited to our M&A activity, anticipated store openings, fuel margins, merchandise margins, sales of RINs, trends in the Company’s operations, dividends and share repurchases. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual future results may differ materially from historical results or current expectations depending upon factors including, but not limited to: the Company’s ability to realize projected synergies from the acquisition of QuickChek and successfully expand our food and beverage offerings; the Company’s ability to continue to maintain a good business relationship with Walmart; successful execution of the Company’s growth strategy, including the Company’s ability to realize the anticipated benefits from such growth initiatives, and the timely completion of construction associated with the Company’s newly planned stores which may be impacted by the financial health of third parties; the Company’s ability to effectively manage the Company’s inventory, disruptions in the Company’s supply chain and the Company’s ability to control costs; the impact of severe weather events, such as hurricanes, floods and earthquakes; the impact of a global health pandemic, such as COVID-19, including the impact on the Company’s fuel volumes if the gradual recoveries experienced throughout 2020 and 2021 stall or reverse as a result of any resurgence in COVID-19 infection rates and government reaction in response thereof; the impact of any systems failures, cybersecurity and/or security breaches of the company or its vendor partners, including any security breach that results in theft, transfer or unauthorized disclosure of customer, employee or company information or the Company’s compliance with information security and privacy laws and regulations in the event of such an incident; successful execution of the Company’s information technology strategy; reduced demand for our products due to the implementation of more stringent fuel economy and greenhouse gas reduction requirements, or increasingly widespread adoption of electric vehicle technology; future tobacco or e-cigarette legislation and any other efforts that make purchasing tobacco products more costly or difficult could hurt the Company’s revenues and impact gross margins; changes to the Company’s capital allocation, including the timing, declaration, amount and payment of any future dividends or levels of the Company’s share repurchases, or management of operating cash; the market price of the Company’s stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company’s cash flows from operations, and general economic conditions; compliance with debt covenants; availability and cost of credit; and changes in interest rates. Murphy USA’s SEC reports, including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, contain other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. Murphy USA undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Senior Investor Relations Analyst
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Project is First of its Kind in Commonwealth of Virginia
RICHMOND, Va.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been awarded a sub-contract by the Virginia Department of Transportation (VDOT) for connected and automated vehicle (CAV) related planning services, representing continued demand for Iteris’ specialized consulting services in a key geographic market.
The project supports VDOT’s initiative to keep pace with advancements in CAV technologies. The goal is to ensure an efficient transition to future transportation systems management and operations. This is achieved through an understanding of CAV data needs, cybersecurity and privacy risks, technology trends, and the potential for altering the transportation data paradigm.
Under the terms of the sub-contract, Iteris will deliver a CAV data strategic plan to help VDOT gain a high-level understanding of how to integrate CAV data from external sources into VDOT’s information technology (IT) and operations technology (OT) related systems. This will help enhance their business functions, and conversely, by sharing agency-wide business data from their IT- and OT-related systems, help serve CAV data needs and support deployment of CAV applications.
“We are proud to support VDOT’s forward-thinking CAV initiative with what will be the first strategic plan of its kind in the Commonwealth of Virginia,” said Dr. Moe Zarean, general manager, Mobility Operations Services at Iteris. “Iteris’ involvement in the growing connectedness of multimodal road users positions us to help communities around the nation prepare for the future, and enhance the value, effectiveness and resilience of their existing transportation infrastructure.”
The project is in line with several CAV deployments Iteris is working on across the U.S. – including oversight of pilot deployments, smart work zones, advanced pedestrian detection and automated commercial vehicle inspections. Iteris also led the development and evolution of the U.S. ITS architecture reference for over three decades, initiating the Connected Vehicle Reference Implementation Architecture in 2012 and continues to support the evolution of the combined ARC-IT for the US Department of Transportation’s Federal Highway Administration.
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," “outlooks,” “target,” "plans," "seeks," "estimates," "may," “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the awarded sub-contract and capabilities and benefits of our specialized consulting services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide our services on a timely and cost-efficient manner; government funding and budgetary issues, and potential related funding delays; and the potential impact of product and service offerings from competitors and other competitive pressures and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
Media Contact
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
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Building Trades, Laborers, Operating Engineers Join Toyota, Hyundai and Fuel Suppliers Asking for $300 Million to Speed Construction of 1,000 Hydrogen Fueling Stations Statewide
SACRAMENTO, Calif.--(BUSINESS WIRE)--Leaders of the state’s leading labor groups, along with CEOs of some of the world’s leading auto and energy companies, today called on California Governor Gavin Newsom to allocate $300 million in the state budget to fund the final construction of 1,000 hydrogen fueling stations statewide in the next decade to meet the state’s climate goals.
In a letter to the Governor today, the State Building & Construction Trades Council, California State Council of Laborers, District Council of Ironworkers and the California-Nevada Conference of Operating Engineers, along with the chief executives of Toyota, Hyundai, Chevron, Shell, Linde and True Zero, called for the immediate funding in the 2022-2023 state budget. This funding will support the buildout of 1,000 hydrogen fueling stations statewide, which will provide fueling access for 97% of disadvantaged communities and 94% of the geographic state.
“This is the dawn of an entirely new, clean and domestic power source made to serve the energy and transportation markets to achieve our shared goals,” notes the letter. “Funding to ‘finish the launch’ of the statewide fueling network is a low-risk, high-reward investment. At this still early stage in market development, the signal California sends on hydrogen will impact private investment decisions.”
The business and labor leaders note the development of a statewide network will create between 2,280-3,720 hydrogen production and station construction jobs annually. By 2032, between 12,010-13,460 permanent jobs will be created. The average salary of those jobs is forecast to be between $84,000-$91,000 per year across engineering, construction, installation, equipment maintenance and hydrogen testing professions.
The letter was signed by: Joe Cruz, President, California State Council of Laborers; Tim Cremins, Director, California-Nevada Conference of Operating Engineers; Andy Walz, President, Americas Fuels and Lubricants of Chevron; Keith Dunn, Commodore, District Council of Iron Workers; Joel Ewanick, Chairman and CEO, FirstElement Fuel; Jose Munoz, President and CEO, Hyundai North America; Dan Yankowski, President, Linde Gases, North America; Andrew Meredith, President, State Building and Construction Trades Council; Gretchen Watkins, President, Shell USA; and Tetsuo Ogawa, President and CEO, Toyota North America.
For more information, visit https://californiahydrogencoalition.org.
Steven Maviglio, 916-607-8340
Leverage Existing IoT Assets to Manage Carbon Footprint
IRVINE, Calif.--(BUSINESS WIRE)--Phoenix Energy Technologies (“Phoenix Energy”), a leading provider of Enterprise Energy Management (EEM) Software and Solutions, today announced the launch of Carbon Manager™, a cloud-based, Smart Building application that makes it easy for enterprises to measure and report carbon intensity from Scope 2 emissions sources. It also provides actionable measures to mitigate carbon impacts on businesses and the environment.
As concerns around global warming become more pronounced, regulators will soon require companies to disclose climate-related metrics across all scopes of their operations, including commercial buildings. Many stakeholders--consumers, shareholders, communities, governments, and activist groups--are also becoming more insistent that large companies disclose their ESG efforts with easy-to-understand, credible metrics.
Without incurring additional capital costs, Carbon Manager consolidates data from all existing IoT devices used across an enterprise’s building facilities with third-party data sources, like utility and weather data. This allows a company to track and report progress towards meeting its CO2 carbon emissions goals in a single, reportable dashboard.
Carbon Manager is unlike other emissions reporting software in that it captures device-level data from major Scope 2 emissions equipment like HVAC, lighting, and refrigeration to provide an unparalleled view of carbon intensity at each site. By combining device data with timely carbon intensity reports from utility generation sources, Phoenix Energy customers can operate more efficiently and reduce electricity demand at times when energy production is most carbon intensive. Carbon Manager provides access to the valuable insights needed to manage a company’s energy needs and consumption more efficiently and more cost effectively.
“We developed Carbon Manager to meet growing demand from our leading enterprise customers for a cost-effective, powerful software solution that leverages existing assets to achieve corporate sustainability goals,” said Glen Schrank, CEO of Phoenix Energy Technologies. “The key for companies to ultimately achieve energy efficiency and climate goals is having the right data. We provide our customers with detailed, actionable plans that include associated consumption and climate reporting KPIs to reduce costs and the risk of climate-disclosure errors. Carbon Manager is a solution that meets the business objectives of our customers, while supporting their commitment to community, society, and other stakeholders.”
Features of Carbon Manager™ include:
Phoenix Energy Technologies has a proven record of helping customers use data to reduce energy, maintenance costs, and operational risk. As an industry leader in Smart Building IoT analytics, Phoenix Energy Technologies partners with customers to continuously create products that save businesses time and money while making buildings more comfortable. Its solutions harness energy data across an organization in a uniquely powerful way that provides control over energy-consuming assets and reduces costs with immediately tangible results.
For information on how your organization can begin measuring its carbon footprint please visit: Request an Assessment | PhoenixET.
About Phoenix Energy Technologies
Phoenix Energy Technologies has been providing Smart Building IoT analytics solutions to customers for more than 15 years. Phoenix Energy Technologies pairs industry expertise with solutions that are uniquely capable of integrating new and existing systems to create a seamless web-based platform that drive cost efficiencies and improve comfort. The Company’s EnterpriseDX® IoT data platform generates ROI for customers by optimizing equipment efficiency that reduces energy costs, decreases repair and maintenance spend and lowers capex by extending the life of assets. For more information about Phoenix Energy Technologies, visit http://www.phoenixet.com
Media: Financial Profiles
Tricia Ross
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HOUSTON--(BUSINESS WIRE)--PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today the following unaudited results for the periods ended June 30, 2022 and 2021:
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||
|
|
2022 |
|
2021 |
|
|
2022 |
|
2021 |
|
||||
Revenues |
$ |
35.7 |
$ |
13.7 |
|
$ |
61.9 |
$ |
28.6 |
|
||||
Net Income (loss) |
$ |
11.0 |
$ |
(2.4 |
) |
$ |
22.1 |
$ |
(3.9 |
) |
||||
Earnings per Common Share: |
|
|
|
|||||||||||
Basic |
$ |
5.57 |
$ |
(1.20 |
) |
$ |
11.18 |
$ |
(1.93 |
) |
||||
Diluted |
$ |
4.02 |
$ |
(1.20 |
) |
$ |
8.08 |
$ |
(1.93 |
) |
||||
Shares Used in Calculation of: |
||||||||||||||
Basic EPS |
1,972,979 |
1,994,177 |
1,979,690 |
1,994,177 |
||||||||||
Diluted EPS |
2,730,164 |
1,994,177 |
2,736,569 |
1,994,177 |
||||||||||
During July 2022 the Company amended its Credit agreement adding West Texas National Bank to our bank group which includes Citibank and Fifth Third Bank. This reserves based line of credit totals $300 million, with an increased borrowing base of $75 million. As of August 18, 2022, the Company has no outstanding borrowings under this line and has ample liquidity on its balance sheet to execute its current business plan. The Company has returned $4,515,000 to its shareholders during 2022 under its ongoing share repurchase program which represents approximately 3% of the outstanding shares.
Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the three and six months ended June 30, 2022 and 2021 were as follows:
|
Six months ended June 30, |
||||||||||
|
|
2022 |
|
2021 |
Increase /
|
Increase /
|
|||||
Barrels of Oil Produced |
|
508,000 |
|
328,000 |
|
180,000 |
54.9 |
% |
|||
Average Price Received |
$ |
102.64 |
$ |
60.77 |
$ |
41.87 |
68.9 |
% |
|||
Oil Revenue (In millions) |
$ |
52.1 |
$ |
19.9 |
$ |
32.2 |
161.8 |
% |
|||
|
|
|
|
|
|||||||
Mcf of Gas Sold |
|
1,577,000 |
|
1,445000 |
|
132,000 |
9.1 |
% |
|||
Average Price Received |
$ |
5.35 |
$ |
2.73 |
$ |
2.62 |
96.0 |
% |
|||
Gas Revenue (In millions) |
$ |
8.4 |
$ |
3.9 |
$ |
4.5 |
115.4 |
% |
|||
|
|
|
|
|
|||||||
Barrels of Natural Gas Liquids Sold |
|
210,000 |
|
195,000 |
|
15,000 |
7.7 |
% |
|||
Average Price Received |
$ |
39.40 |
$ |
21.28 |
$ |
18.12 |
85.2 |
% |
|||
Natural Gas Liquids Revenue (In millions) |
$ |
8.2 |
$ |
4.1 |
$ |
4.1 |
100 |
% |
|||
|
|
|
|
|
|||||||
Total Oil & Gas Revenue (In millions) |
$ |
68.1 |
$ |
28.0 |
$ |
40.1 |
143.2 |
% |
|||
|
Three months ended June 30, |
|||||||||||
|
|
2022 |
|
2021 |
Increase /
|
Increase /
|
||||||
Barrels of Oil Produced |
|
235,000 |
|
165,000 |
|
70,000 |
|
42.4 |
% |
|||
Average Price Received |
$ |
109.95 |
$ |
64.63 |
$ |
45.32 |
|
70.1 |
% |
|||
Oil Revenue (In millions) |
$ |
25.8 |
$ |
10.6 |
$ |
15.2 |
|
143.4 |
% |
|||
|
|
|
|
|
||||||||
Mcf of Gas Sold |
|
800,000 |
|
780,000 |
|
20,000 |
|
2.6 |
% |
|||
Average Price Received |
$ |
5.86 |
$ |
2.94 |
$ |
2.92 |
|
99.3 |
% |
|||
Gas Revenue (In millions) |
$ |
4.6 |
$ |
2.2 |
$ |
2.4 |
|
109.1 |
% |
|||
|
|
|
|
|
||||||||
Barrels of Natural Gas Liquids Sold |
|
106,000 |
|
109,000 |
|
(3,000 |
) |
(2.8 |
)% |
|||
Average Price Received |
$ |
41.72 |
$ |
22.06 |
$ |
19.6 |
|
128.1 |
% |
|||
Natural Gas Liquids Revenue (In millions) |
$ |
4.4 |
$ |
2.4 |
$ |
2.0 |
|
83.9 |
% |
|||
|
|
|
|
|
||||||||
Total Oil & Gas Revenue (In millions) |
$ |
34.9 |
$ |
15.3 |
$ |
19.6 |
|
127.3 |
% |
|||
PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily Texas and Oklahoma. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.
Forward-Looking Statements: This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.
PrimeEnergy Resources Corporation
Connie Ng at (713) 735-0000 ext 6416
With global demand soaring for protecting enterprise operations, TXOne Networks attracts significant Series B funding
IRVING, Texas & TAIPEI, Taiwan--(BUSINESS WIRE)--#OTZeroTrust--TXOne Networks, a global leader in industrial Internet of Things (IIoT) security, announced that it has entered into definitive agreements in connection with its Series B financing with total investment proceeds of $70 million. The latest capital injection will be used to expand TXOne Networks' global presence and defend industry verticals worldwide against complex and volatile cybersecurity threats to industrial control systems (ICS).
The new funding round was led by TGVest Capital ($20 million), with participation from KAiA Capital, CDIB Capital Group, CDIB-Innolux L.P., MediaTek, Ta Ya Electric Wire & Cable, Ta Ya Venture Capital, Simplo Technology Group, CHT Security Corporation and Ash Tower Limited, as well as Steven Pan, Silks Hotel Group Chair, and Chun-I Wu, TAYIH Group Chair. TXOne Networks completed its Series A financing in August 2021, and lead investors in that round—JAFCO Asia and Jade Stone Jinghua Limited Partnership Fund—increased their investment in Series B.
“Now, and more than ever, manufacturing companies and critical facilities globally are facing increasing pressure to ensure cybersecurity,” said DC Cheng, TGVest Capital Chair. “TXOne, as an early mover and with the unique technology and solutions it has developed, is undoubtedly well positioned to capitalize such growing demand and to protect companies from potential cybersecurity impacts. We at TGVest share TXOne’s vision to be a global leader for Operation Technology cybersecurity. Through the growth investment that we lead, we are proud to be partnering with the TXOne team to achieve the mission.”
According to MarketsandMarkets’ latest report, the market for ICS cybersecurity will grow to $32.4 billion by 2027. Not only high-value manufacturing and semiconductor sectors but also governments and critical information infrastructure have become the target of hackers. ICS vulnerabilities are being targeted in greater numbers, disrupting production, damaging assets worldwide and, in some cases, threatening lives and national security.
As the global pioneer of an “OT zero trust” approach to preserving critical assets’ integrity and productivity in operational technology (OT) environments, TXOne Networks provides the most advanced solutions to address enterprises’ needs to prepare for, avert and respond to ever-changing cybersecurity threats and keep operations running. TXOne Networks has been recognized by CRN as a 2022 Emerging Vendor in the Security category. The company serves a wide range of customers, such as large enterprises and international conglomerates, as well as the upstream, midstream and downstream supply chains in various sectors, including semiconductor, medical and pharmaceutical, automobile, aerospace, smart manufacturing, food processing, public transportation and critical electric infrastructure. The surge in cybersecurity demand contributed to a 107% increase YoY in TXOne Networks’ revenue in the first half of 2022. Furthermore, TXOne Networks’ employment in Europe and the United States increased by 67%, and that trend will continue with the overall number of staff in Asia, Europe and the United States expected to double by the end of this year.
“With cyberattacks on the rise, the zero trust era has arrived for OT networks. TXOne Networks’ highly adaptable, OT-native cybersecurity solutions for ICS are proving uniquely up to the task of helping enterprises safeguard operations from known and unknown threats, comply with regulatory requirements and improve core competitiveness,” said Dr. Terence Liu, TXOne Networks chief executive officer. “This unusually large round of Series B funding is proof of the market’s belief in TXOne Networks. Having won the trust of our investors in our innovative technologies and products and strong operations team, we are exceeding expectations. We will continue to expand our global market presence, recruit world-class talent and grow the world's first OT zero trust-based cybersecurity platform.”
Learn more about TXOne Networks ICS cybersecurity:
Follow TXOne Networks on Blog, Twitter, and LinkedIn.
About TXOne Networks
TXOne Networks offers cybersecurity solutions that ensure the reliability and safety of industrial control systems and operational technology environments through the OT zero trust methodology. TXOne Networks works together with both leading manufacturers and critical infrastructure operators to develop practical, operations-friendly approaches to cyber defense. TXOne Networks offers both network-based and endpoint-based products to secure the OT network and mission-critical devices in a real-time, defense-in-depth manner. www.txone.com
About TGVest Capital
TGVest Capital is an Asia based technology-focused private equity investment firm. It manages funds in technology growth capital and buyout investments with focuses in Taiwan and Japan. TGVest Capital was founded in 2016 by a group of senior investment professionals with corporate investment background. The firm aims to bring attractive returns and values to its portfolio through following long-term and disciplined investment approaches and fully utilizing its value-added resources. Please visit TGVest Capital’s website at https://www.tgvestcapital.com/ for additional information.
TXOne Networks press contact:
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tel. +886 2-2378-9666 ext.5133
Americas press contacts TXOne Networks:
De Anne O’Connell
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Vivian Kelly
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+1 703 509 5412
European press contacts TXOne Networks:
GlobalCom PR-Network GmbH
Martin Uffmann / Caroline Hannig-Sachon
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Tel.: +49 (0)89 360 363-41 / -42
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