HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its wholly-owned subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a long-term liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with a subsidiary of PetroChina Company Limited (“PetroChina”).
Under the SPA, PetroChina subsidiary PetroChina International Company Limited (“PCI”) has agreed to purchase up to approximately 1.8 million tonnes per annum (“mtpa”) of LNG from Cheniere Marketing on a free-on-board basis. Deliveries under the SPA will begin in 2026, reach the full 1.8 mtpa in 2028, and continue through 2050. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee. Half of the total volume, or approximately 0.9 mtpa, is subject to Cheniere making a positive final investment decision to construct additional liquefaction capacity at the Corpus Christi LNG Terminal beyond the seven-train Corpus Christi Stage 3 Project.
“We are pleased to build upon our existing and successful long-term relationship with PetroChina and sign our first LNG contract that crosses over into the second half of this century,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “PetroChina is a leading energy company in one of the largest and fastest growing markets for LNG. This SPA increases Cheniere’s long-term sales to PetroChina to approximately 3 mtpa, and we are proud to support China’s progress toward a lower-carbon future with our reliable, cleaner burning LNG.”
Commenting on the agreement, Mr. Tian Jinghui, Executive Chairman of PCI stated “Natural gas continues to play a vital role in enabling energy transition in China. We are pleased to further expand our cooperation with Cheniere in delivering LNG, one of the cleanest fuel choices to our millions of customers for many years to come.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 mtpa of LNG in operation and an additional 10+ mtpa of expected production capacity under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission.
About PetroChina
PetroChina Company Limited is a joint stock limited company incorporated on November 5, 1999, upon the restructuring of China National Petroleum Corporation ("CNPC"). The American Depositary Shares ("ADS"), H shares and A shares of the Company were listed on the New York Stock Exchange, the Stock Exchange of Hong Kong Limited ("HKSE" or "Hong Kong Stock Exchange") and Shanghai Stock Exchange on April 6, 2000, April 7, 2000 and November 5, 2007, respectively. PetroChina is one of the major oil and gas producers and distributors in China, as well as a significant player in the global oil and gas industry. PetroChina is one of the largest natural gas sales enterprises in China and owns two LNG terminals in Jiangsu and Tangshan, with a loading and unloading capacity of 13 million tons. PetroChina is engaged in a wide range of activities related to oil, gas and new energy, and sustainably provide energy and oil products for economic and social development.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third-parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
Phil West, 713-375-5586
HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) plans to report its second quarter 2022 financial results on Thursday, August 4, 2022. Management will present the results during a conference call and webcast at 9:00 a.m. ET (8:00 a.m. CT).
A live webcast of the conference call, including presentation materials, can be accessed through NRG’s website at http://www.nrg.com and clicking on “Presentations & Webcasts” in the “Investors” section found at the top of the home page. The webcast will be archived on the site for those unable to listen in real time.
About NRG Energy
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Laura Avant
713.537.5437
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Project funded by Wells Fargo Innovation Incubator (IN2) shows novel solar window technologies’ steady climb up new energy-performance curve and potential improved energy efficiency
SANTA BARBARA, Calif.--(BUSINESS WIRE)--NEXT Energy Technologies, Inc., makers of a proprietary transparent photovoltaic (PV) coating that transforms commercial windows with uncompromised aesthetics into energy-producing solar panels, has announced results of a multi-year photovoltaic window project it has completed as part of the Wells Fargo Innovation Incubator (IN2) that shows the overall energy-efficiency performance of NEXT transparent PV windows compared to traditional commercial windows.
IN2 is a renewable technology initiative with a major focus on supporting scalable solutions to reduce the energy impact of commercial buildings. It is co-managed by the Wells Fargo Foundation and the U.S. Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL).
Results of this project are significant given that commercial buildings account for 36% of all US electricity consumption at a cost of more than $190 billion annually. Additionally, windows represent 30% of a commercial building’s heating and cooling energy, costing US building owners about $50 billion annually, according to DOE. Combined with President Joe Biden’s new goal of the US government achieving net-zero greenhouse gas emissions by 2050, it is imperative that the commercial real estate and construction industries transform how buildings manage energy and where they get it.
“To effectively mitigate climate change, we need to fundamentally rethink how we design, construct, power, and manage our built environment,” said Daniel Emmett, CEO of NEXT Energy Technologies. “Our project data shows these windows can help buildings reduce energy consumption by improving the efficiency of windows and generating electricity for the building.”
NEXT’s transparent energy harvesting technology allows architects and building owners to turn windows and glass facades into producers of low-cost, on-site, renewable energy for buildings. The photovoltaic technology is enabled by proprietary organic semiconducting materials that are earth-abundant and low-cost. This material is coated uniformly onto glass as an ink in a high-speed, low-cost, low-energy process, enabling the glass to harvest the sun’s light and convert it into electricity rather than heat.
In the IN2 NEXT project, NEXT windows were modeled and tested against traditional commercial windows, tracking performance based on their respective Solar Heat Gain Coefficient (SHGC), an industry-standard performance metric for commercial windows. SHGC measures the amount of heat – or solar gain – created by sunlight passively entering buildings through windows. Excessive solar gain can lead to overheating within a space and inefficient energy management throughout a building.
The results of the study show that NEXT’s technology could lower the SHGC from an otherwise equal window to something below .20.
Garret Henson, the Vice President Sales & Marketing at Viracon, a leading manufacturer of architectural glass for commercial buildings in North America, said: “These are extremely significant results for the energy efficiency of insulating glass. Achieving a SHGC below .20 while providing neutral aesthetics has been a monumental challenge for all of us that create vacuum deposition architectural coated glass. Balancing performance and appearance is the heart of ideal harmony and it appears NEXT has done just that.”
The lowering of the SHGC represents a median source energy savings of approximately 10% across all locations and a maximum source energy savings of up to 50% in some locations (e.g., New Mexico, Texas, and Arizona) compared to baseline scenarios for today’s traditional windows.
“The results of the collaboration with NEXT give us data on how to redefine ways architects and building owners measure the performance of commercial windows,” said Trish Cozart, program manager of IN2 and director of the Innovation and Entrepreneurship Center at NREL. “If you can generate substantial amounts of electricity with a building’s windows, it can mark a new chapter. Now, the goal is the evaluation of SHGC to account for impacts of power generation as well as solar heat gain.”
About NEXT Energy Technologies, Inc.
NEXT Energy Technologies is a Santa Barbara, California company developing transparent energy harvesting window technology that allows architects and building owners to transform windows and glass facades into producers of low-cost, on-site, renewable energy for buildings. For more information, visit www.nextenergytech.com.
About the Wells Fargo Innovation Incubator (IN2)
The Wells Fargo Innovation Incubator (IN2) is a $50 million technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN2’s mission is to speed the path to market for early-stage, clean-technology entrepreneurs. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN2 has since expanded its focus to advance technologies that address the sustainable production of agriculture and housing affordability. For more information, visit in2ecosystem.com.
Cailey Henderson
104 West Partners for NEXT Energy Technologies
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BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced that Uplight’s Plus product received a Top Product of the Year Award in the elite Environment + Energy Leader Awards program. The win is an indication that the program’s expert judges consider Plus a top example of the exemplary work being done today in the fields of energy and environmental management.
Launched in August 2021, Plus bundles multiple utility programs into simple, personalized offers delivered through a consumer-friendly digital experience—making it easy for customers to understand and enroll in beneficial energy and billing programs. With Plus, Uplight became the first utility partner to offer a subscription-based customer experience allowing customers to pay the same amount each month, providing a new level of predictability and control over spending. The solution allows utilities to provide customers fixed bills without the need for true-ups. Rather than relying on price signals to customers to change their behaviors, Plus leverages automatic cost signals to devices, easing the burden on customers.
Leading utilities including AES Indiana, Duke Energy and others launched Plus as part of successful pilots. AES Indiana used Plus to pilot a subscription energy bundle with budget billing, digital payments and green energy enrollment. Within the first three months of launching Plus with a pilot population of 2,000 residential customers, AES Indiana saw a 26% increase in autopay enrollment and a 67% increase in green energy program enrollment.
One judge said of Plus, "Several companies [have] tried to simplify the utility/customer interface, with only limited results. Uplight has demonstrated consistent results across several utilities, managing to deliver both savings and accelerated access to clean energy."
Another added, "While the customer interface fills a much-needed gap for utilities, the service greatly reduces the friction between regulated utilities and customers, offering a better service to customers and a simple path to adopting DR [demand response] and clean energy. The service helps customers bundle bill savings while becoming greener and accelerating the transition to clean energy."
“To power the clean energy transformation, simplifying the energy usage, billing and savings process for utility customers is key,” said Indy Ratnathicam, Chief Marketing Officer, Uplight. “Plus helps utilities accomplish just that, and this recognition is further validation of our approach to better connecting utilities and their customers to achieve decarbonization goals.”
The Environment + Energy Leader Awards is a program recognizing excellence in products and services that provide companies with energy and environmental benefits, and in projects implemented by companies that improved environmental or energy management and increased the bottom line.
“With a very experienced and critical judging panel and a strict set of judging criteria, entrants faced an extremely high bar to qualify for an award in 2022,” said Sarah Roberts, Environment + Energy Leader publisher.
To learn more about Plus, visit https://uplight.com/plus.
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
About the Environment + Energy Leader Awards
For the past decade, the Environment + Energy Leader Awards have celebrated excellence in the world of environmental, sustainability and energy management. Award winners are truly buzz-worthy, and companies that sport a Top Project or Top Product of the Year Award badge are known to be the best of the best. When other companies are seeking a sustainability or energy management solution, they know that E+E Product of the Year Award winners offer a significant group of products, vetted by experts, to peruse for help in making their decisions. Project of the Year Award winners are known to illustrate how sustainability and energy management projects can successfully help other companies improve the bottom line.
Liam Sullivan
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DUBLIN--(BUSINESS WIRE)--The "Power & Natural Gas Weekly Regional Price Range Forecast including Six Regions through to 2023 - United States" newsletter has been added to ResearchAndMarkets.com's offering.
The Power & Natural Gas Weekly Regional Report employs the analyst's proprietary probabilistic models to present 6-year forward price range forecasts.
Gas Pricing Point:
Power Pricing Point:
Regions Include:
For more information about this newsletter visit https://www.researchandmarkets.com/r/qk0jku
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Recent Innovations and Developments and Future Growth Opportunities in Power Transmission and Distribution (T&D) Technologies" report has been added to ResearchAndMarkets.com's offering.
The study includes an introduction to modern grids, and it discusses power T&D industry trends and analyzes the new technological developments in the electricity T&D industry.
The energy sector is shifting to sustainable and green resources; as a result, the share of renewables in the power generation mix is rising. However, this presents another challenge for the power industry; renewable sources are intermittent, which pressurizes the power transmission and distribution (T&D) industry to maintain power supply in line with demand.
In response to the growing use of intermittent renewable sources and the rising energy demand, power T&D infrastructure has been evolving, particularly over the past 5 years.
This research service focuses on new technologies and infrastructure that will improve grid resilience through digitalization; establishing two-way communication between energy providers and energy consumers; data analytics; and automation.
It also examines the major market participants and analyzes the smart grid T&D system patent landscape (highlighting the key patent owners/assignees and the patent jurisdictions with the highest activity). The research service also highlights emerging growth opportunities in the electricity T&D industry.
Key Topics Covered:
1 Strategic Imperatives
2 Research Context and Summary of Findings
3 T&D Technologies and Trends: An Overview
4 Power Transmission and Distribution: Technology Analysis
5 Companies to Watch
6 IP Analysis of the Building Energy Management System Industry
7 Growth Opportunity Universe
8 Key Contacts
For more information about this report visit https://www.researchandmarkets.com/r/z63sbi
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Delivery of First Boats to Dealers Expected in 2023
FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--#boating--Hercules Electric Marine, a division of Hercules Electric Mobility, Inc., today announced it has reached an agreement with Coach Marine Group (CMG) to supply CMG with electric propulsion systems for use in its Coach and Xcursion branded pontoon boats. The companies have entered the final design and integration phase in which they will partner to tailor the Hercules e-Drive system to CMG’s exact specifications to deliver a superior experience for Coach & Xcursion pontoon customers.
CMG intends to produce up to 1,500 electric pontoons annually featuring an electric inboard/outboard motor powered by the Hercules e-Drive system. Financial terms of the agreement are not being disclosed.
Hercules expects to deliver its initial e-Drive systems to CMG in the fourth quarter, enabling CMG to get electric-powered pontoons to its North American dealer network as early as May 2023. Customers can learn more by contacting This email address is being protected from spambots. You need JavaScript enabled to view it. or by visiting www.coachpontoons.com.
“We’re thrilled to partner with an industry leader like Coach to bring state-of-the-art electrification technology to the marine industry without sacrificing performance,” said James Breyer, CEO of Hercules.
“By working together, we’re confident this will be a successful venture for both parties,” said Chris Riddle, CMG CEO. “This is a collaborative effort from design to sales. We’re looking forward to the retail boat show season and other display opportunities this year, showcasing the power, performance and quiet luxury that comes with a Hercules e-Drive mated to a Coach pontoon.”
The Electric Boat Benefits
Stringent regulations, such as those set by the California Air Resource Board (CARB), to reduce emissions from engines in boats and other recreational vehicles go into effect at the beginning of 2023. Electric powertrain systems in boats not only remove emissions, they also eliminate the need for gasoline or diesel fuel and the associated risks.
“Electrification makes for a clean and quiet boating experience, while also opening key areas on the deck of our pontoon for more usable space,” Riddle said. “The Hercules e-Drive makes boating on a Coach or Xcursion pontoon even more fun without any compromises.”
CMG pontoons powered by the Hercules 200-kilowatt e-Drive system will have a top-end speed above 40 mph and approximately 12 hours of cruising time between battery charges. Programmable software enables users to customize power levels for optimal range or to meet waterway horsepower or speed restrictions.
“Our powerful, ultra-clean and quiet e-Drive system, derived from advanced automotive technology and developed under a robust design process, can be applied across recreational mobility to enhance performance and ownership experience without the negative environmental impacts that come with combustion engines,” Breyer added.
About Hercules Electric Mobility
Hercules Electric Mobility, Inc. was founded in 2018 by auto veteran James Breyer. Hercules is a Farmington Hills, Mich.-based company that is focused on bringing electric propulsion systems to the market for recreational boating and marine applications through its Hercules Electric Marine brand. Interested parties can learn more about strategic partnership opportunities by reaching out to This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.hercules-marine.com.
Daniel Henry
Hercules Electric Mobility
800-397-8267
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John Tews
The Millerschin Group
248-320-3814
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Company Provides Progress Updates and Standards for Environmental Responsibility, DEI, Community Impact and More
PHILADELPHIA--(BUSINESS WIRE)--Rite Aid (NYSE: RAD) today published its fourth annual Environmental, Social and Governance (ESG) Report, detailing the company’s strategy and progress against goals over the past year. This year’s report addresses the four ESG pillars introduced in the company’s 2021 report: Thriving Planet, Thriving Business, Thriving Workplace and Thriving Community.
“As a purpose-driven healthcare organization, we recognize the need to do our part in minimizing our environmental footprint and making a positive impact through our associates in the communities we serve,” said Paul Gilbert, Chief Legal Officer overseeing ESG efforts at Rite Aid. “Our advancement thus far is exciting, and we look forward to further progress in the months and years ahead.”
This year’s report furthers Rite Aid’s commitment to transparency and accountability on important topics and acts as a benchmark to help inform future ESG priorities and goals.
Thriving Planet
Rite Aid advanced its objective of reducing the company’s environmental impact by lessening energy demand, transitioning to lower carbon energy sources, minimizing waste and improving fleet efficiency. Specifically:
Thriving Business
Rite Aid is working to embed sustainability in every level of its value chain, improving supply chain transparency and engagement, formalizing environmental and social sourcing guidelines and policies and enhancing consumer transparency around sustainable products and sourcing. To support these goals:
Thriving Workplace
To encourage a thriving workplace and optimize associate experience, opportunity and well-being across the organization, Rite Aid is implementing a transformative DEI strategy and recruitment and retention practices to drive positive business outcomes.
Thriving Community
Rite Aid continues to improve health equity, outcomes and access to care in the communities it serves.
New this year, Rite Aid proclaimed its support of eight of the 17 United Nations Sustainable Development Goals (UN SDGs), which are designed to facilitate significant global development by 2030. The report maps Rite Aid ESG achievements and priorities to the eight goals, including Zero Hunger, Good Health and Wellbeing, Affordable and Clean Energy, Gender Equality, Decent Work and Economic Growth, Reduced Inequalities, Responsible Consumption and Production, and Peace, Justice and Strong Institutions.
About Rite Aid Corporation
Rite Aid is a full-service pharmacy that improves health outcomes. Rite Aid is defining the modern pharmacy by meeting customer needs with a wide range of vehicles that offer convenience, including retail and delivery pharmacy, as well as services offered through our wholly owned subsidiaries, Elixir, Bartell Drugs and Health Dialog. Elixir, Rite Aid’s pharmacy benefits and services company, consists of accredited mail and specialty pharmacies, prescription discount programs and an industry leading adjudication platform to offer superior member experience and cost savings. Health Dialog provides healthcare coaching and disease management services via live online and phone health services. Regional chain Bartell Drugs has supported the health and wellness needs in the Seattle area for more than 130 years. Rite Aid employs more than 6,400 pharmacists and operates more than 2,350 retail pharmacy locations across 17 states. For more information, visit www.riteaid.com.
MEDIA:
Alicja Wojczyk
585-957-4060
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DUBLIN--(BUSINESS WIRE)--The "LNG Liquefaction Terminals Capacity and Capital Expenditure (CapEx) Forecast by Region, Countries and Companies including details of New Build and Expansion (Announcements and Cancellations) Projects, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
Global LNG liquefaction capacity is expected to grow by 75% during the outlook period, 2022 to 2026 from new build and expansion projects.
Among regions, North America accounts for majority of the global liquefaction capacity additions from new build and expansion projects accounting for 69% of the total growth by 2026. Among countries, the US leads globally with 220.3 mtpa of liquefaction capacity additions by 2026. Russia and Qatar follow, with capacity additions of 44.7 mtpa and 32.0 mtpa, respectively.
Scope
Reasons to Buy
Key Topics Covered:
1 Introduction
2. Global LNG Liquefaction Industry Outlook to 2026
3. Key Projects Announcements and Cancellations
4. Global LNG Liquefaction Capacity and Capex Outlook
5. Regional Capex Outlook by Country and Company
6. Global Planned and Announced LNG Liquefaction Terminals
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/26v7uo
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Highlighting goals, progress and steps the company is taking to keep energy moving safely and responsibly
MONTGOMERY, Texas--(BUSINESS WIRE)--Kodiak Gas Services, LLC (Kodiak), a leading provider of contract compression services, today released its second sustainability report. Kodiak’s 2021 report reflects the progress made on the company’s mission to set the standards for environmental, social and governance leadership in the midstream sector by lowering greenhouse gases (GHG) and reducing waste; prioritizing the safety, training and development of its diverse workforce; and building strong communities through service.
“We have strategically approached sustainability by looking to the future and examining the role Kodiak can and will play to safeguard the environment, positively impact society and do business ethically and with integrity,” said Mickey McKee, president and chief executive officer of Kodiak. “We see this report as an opportunity to demonstrate how Kodiak will lead the midstream sector through the energy transition to a lower carbon future, and I’m proud of our team’s work to-date and what I know we can achieve in the future.”
Delivering on a commitment to environmental stewardship
Through Kodiak’s services, industry-leading mechanical availability and lowest emissions fleet in the industry, the company keeps energy moving while also helping customers advance their environmental goals. Environmental highlights from the 2021 report include:
Building a foundation for the future
Kodiak continues to leverage the company’s strong safety, workforce development and community relations foundation to advance careers, improve safety and support neighborhoods where the company operates. In 2021, Kodiak’s social highlights included:
Instilling accountability through leadership and execution
Governance at Kodiak is a priority, as the company is dedicated to doing business ethically and with integrity. The company is managed by a diverse six-member Board of Directors with over 140 years of combined industry experience. Together with the leadership team, they oversee Kodiak’s economic performance, business continuity and corporate resiliency.
“From inception through today, Kodiak has been an industry leader in many metrics, said Terry Bonno, audit committee chair & board member at Kodiak. “While maintaining industry-leading performance of guaranteed mechanical availability, acquiring amazing talent, setting audacious safety metrics and providing exceptional employee benefits, Kodiak, not complacent with the status quo, has continued to be a leader in the industry and is striving to change the ESG landscape.”
To download Kodiak’s 2021 Sustainability Report or learn more about the company, visit: KodiakGas.com.
About Kodiak Gas Services, LLC
Kodiak Gas Services, LLC is the third largest contract compression services provider in the continental United States with a revenue generating fleet of over 3 million horsepower. The company focuses on providing contract compression services to oil and gas producers and midstream customers in high‐volume gas gathering systems, processing facilities, multi‐well gas lift applications and natural gas transmission systems. More information is available at www.kodiakgas.com.
Jaylon Brinkley
Pierpont Communications
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NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, will host its second-quarter 2022 financial results conference call on Wednesday, August 3, 2022 at 9:00 a.m. ET.
On the call, Chairman, President and Chief Executive Officer Alan S. McKim, Executive Vice President and Chief Financial Officer Michael L. Battles, Executive Vice President and Chief Operating Officer Eric W. Gerstenberg and Senior Vice President of Investor Relations Jim Buckley will discuss Clean Harbors’ financial results, business outlook and growth strategy.
Those who wish to listen to the conference call webcast should visit the Investor Relations section of the Company’s website at www.cleanharbors.com. The live call also can be accessed by dialing 877.709.8155 or 201.689.8881. Please dial in at least 10 minutes prior to the start of the call. If you are unable to listen to the live call, the webcast will be archived on the Company’s website.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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DUBLIN--(BUSINESS WIRE)--The "Boat Restoration Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global boat restoration market is expected to grow at a CAGR of 11.5% during the forecast period of 2022 to 2030. The market for ship restoration services is expected to be driven by the increasing demand for passenger ships and ferries across East Asia, South Asia, and the Pacific.
A primary element that is driving the growth of the worldwide ship repair and maintenance services market is the continuous rise in shipbuilding operations. The size of the worldwide marine fleet was 1.3 million units in 2010, and reached about 2 million units at the end of 2020, representing a growth of 53%.
Because shipping by water has a noticeably lower overall cost compared to other modes of transportation and a noticeably greater carrying capacity, international commerce has a tendency to choose this mode of transport. As a result of this, it is anticipated that the market for ship repair and maintenance services would continue to expand.
Increasing Demand from Recreational Boating Industry
It is projected that the growing need for boats used for leisure purposes will enhance demand in the market for boat construction. Boating for pleasure is a well-liked pastime activity in many countries throughout the world. Recreational boating includes a wide variety of activities, such as water skiing, fishing, and travel, that is enjoyed by a large number of people.
Application of Cutting Edge Technologies to Increase Efficiency
In the marine business, robots are utilised for the performance of a wide variety of duties, ranging from cleaning and maintenance to fully driverless ships, with the goals of lowering the danger of injury to humans and improving the overall efficacy of the process.
Therefore, cutting-edge robotics that are having an impact on maritime operations is a significant development that is driving a crucial trend in the maritime business. Platforms based on the SaaS model are assisting in the reduction of unanticipated costs in the field of ship repair and maintenance.
Environment-Friendly Solutions to Boost the Market Growth
Shipbuilding enterprises all around the world are rapidly turning to environmentally friendly shipbuilding technology in order to comply with environmental laws and standards.
Ships with no ballast systems, which prevent organisms from entering the ship and eliminate the need for sterilisation equipment, sulphur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems, and the use of LNG fuels for propulsion and auxiliary engines are all examples of technologies that are currently being used in shipbuilding.
Bulk Carriers to Dominate in terms of type of Vessels
In 2021, it is anticipated that bulk carriers will hold more than 30 % of the market share for vessels categorised as bulk transport. Ships specialised in carrying unpackaged bulk cargo, such as coal, grains, ore, and cement, are known as bulk carrier ships. The demand for bulk carriers is particularly high in developing countries like India, Brazil, Mexico, and the countries of the ASEAN.
Electrical Repairs to Account for Most of the Restoration Activities
Electrical and instrumentation repairs, including electrical motors, generators, and electrical equipment maintenance and repair, are estimated to be major forms of repairs. This is based on the fact that these types of repairs are common. As a consequence of this, the electrical and instrumentation repairs segment accounted for a significant portion of the global ship repair and maintenance services market.
Market Segmentation
By Vessel Type (2020-2030; US$ Mn)
By Application (2020-2030; US$ Mn)
By Components (2020-2030; US$ Mn)
By End User (2020-2030; US$ Mn)
Key Topics Covered:
1. Preface
2. Executive Summary
3. Boat Restoration Market: Business Outlook & Market Dynamics
4. Boat Restoration Market: By Vessel Type, 2020-2030, USD (Million)
5. Boat Restoration Market: By Application, 2020-2030, USD (Million)
6. Boat Restoration Market: By Components, 2020-2030, USD (Million)
7. Boat Restoration Market: By End User, 2020-2030, USD (Million)
8. North America Boat Restoration Market, 2020-2030, USD (Million)
9. UK and European Union Boat Restoration Market, 2020-2030, USD (Million)
10. Asia Boat Restoration Market, 2020-2030, USD (Million)
11. Latin America Boat Restoration Market, 2020-2030, USD (Million)
12. Middle East and Africa Boat Restoration Market, 2020-2030, USD (Million)
13. Company Profile
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/97m2p5
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HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea”) (NYSE: LFG) announced today that it plans to issue its earnings release with respect to second quarter 2022 financial results on Tuesday, August 16, 2022 before the market opens. Archaea will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Tuesday, August 16, 2022 to discuss second quarter results.
A listen-only webcast of the call and accompanying slide presentation will be available on Archaea’s website at www.archaeaenergy.com. After completion of the webcast, a replay will be available for 12 months on Archaea’s website.
ABOUT ARCHAEA
Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry-leading platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, faster project timelines, and lower development costs. Archaea partners with landfill and farm owners to help them transform potential sources of emissions into RNG, transforming their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels.
Additional information is available at www.archaeaenergy.com.
ARCHAEA
Megan Light
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346-439-7589
Blake Schreiber
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346-440-1627
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--#ATSG--GA Telesis Engine Services (“GATES”) announces industry veteran, Bradley Carucci, has joined GATES as Managing Director of the US-based Specialized Procedures Aeroengine Hospital (“SPAH”) in Wilmington, Ohio. This new 72,000 sq. ft. facility is a joint venture with GA Telesis, LLC and Air Transport Services Group, Inc. (“ATSG”).
Carucci brings a broad range of aviation experience with increasing levels of responsibility in the commercial aircraft maintenance industry. He began his career as a Jet Engine Specialist with the United States Air Force. Carucci received his bachelor’s degree in Applied Arts and Aviation Sciences from Eastern New Mexico University.
“There were several reasons for joining GATES, but the one that stood out was the solid team of professionals. GA Telesis has always held the highest standards for customer service, and I am proud to be part of the team,” said Bradley Carucci, Managing Director, US SPAH. “This new capability enhances our support to airlines and lessors with quality engine maintenance while supporting their fleets,” added Carucci.
"We are excited to have Brad on the team. His prior experience in MRO Quality and Training Management will be of great value in establishing the operation," commented Russ Shelton, President, Engine Strategy Group. "His knowledge of the industry brings us an extremely valuable competitive edge as we move forward into the future," added Shelton.
About GA Telesis
GA Telesis is the leading provider of integrated services in the commercial aviation industry. Through the GA Telesis Ecosystem™, the Company is distinctly positioned, across six continents, to leverage its resources to create innovative solutions for its customers. Consisting of global operations encompassing Component Solutions, Leasing/Financing, Logistics Solutions, and MRO Services business units for landing gear, component/composite, and turbine engine repair, as well as digital solutions, the GA Telesis Ecosystem™ provides an unparalleled resource to airlines. The Company’s core business is its mission to ensure “Customer Success,” built from a reputation for unsurpassed excellence and integrity.
For further information, please contact Cathy Moabery at This email address is being protected from spambots. You need JavaScript enabled to view it..
About GA Telesis Engine Services
GA Telesis Engine Services (GATES) is a fully integrated subsidiary of GA Telesis, offering customers a seamless engine solution that combines high-quality repair and overhaul services as well as world-class supply chain services. The GATES facility is based in Helsinki, Finland, and operates under FAA, EASA, CAAC, TCCA, DGAC, GACA, ANAC, and ECAA approvals for CFM56-5B, CFM56-7B, and General Electric CF6-80C2 turbine engines. GATES has an integrated test cell capable of up to 100,000 pounds of thrust and can overhaul up to 200 engines per year. GATES Go-Team is also one of the few companies authorized by EASA to perform remote repairs on engines that are installed on aircraft.
GA Telesis
Cathy Moabery
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AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that leading transportation management provider Ruan has ordered 10 units backed by deposits to secure Hypertruck ERX™ production slots.
With nearly 4,000 trucks and 300 operating locations nationwide, Ruan is one of the top 10 privately-owned transportation and logistics companies in the country. A proponent of alternative fuels, the Hypertruck Innovation Council member was an early adopter of CNG fueled trucks, logging millions of miles per year on natural gas power and reducing millions of pounds of carbon emissions. The order comes after Ruan’s visit to Hyliion’s headquarters and a successful Hypertruck ERX Ride and Drive experience.
“The Hypertruck ERX’s commercialization path is paved with input from Innovation Council members like Ruan, whose determination to run its fleet more effectively and efficiently through sustainable technologies is key to transforming the transportation industry. I’m pleased that Ruan will be adding Hypertruck ERX units to its fleet as they continue their steadfast commitment to electric and alternative fuel vehicles,” said Thomas Healy, Founder and CEO of Hyliion.
“Driving toward a cleaner future isn’t just an aspirational goal; it’s an integral part of our business and the way we serve our customers and support our communities. We see the potential the Hypertruck ERX has in further facilitating our carbon reduction goals and in supporting our efforts to lead the way as environmental stewards in the commercial trucking industry,” said Brad Gehring, Vice President of Fleet Services for Ruan.
About Hypertruck ERX™
The Hypertruck ERX™ is an electric powertrain that is recharged by an onboard natural gas generator for Class 8 commercial trucks that aims to provide lower operating costs, emissions reductions, and superior performance. Utilizing the 700+ commercial natural gas vehicle filling stations across North America, it enables long range and quick refueling, and when fueled with renewable natural gas, can provide net-negative carbon emissions to commercial fleets.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Hyliion Holdings Corp.
Ryann Malone
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(833) 495-4466
Sharon Merrill Associates, Inc.
Nicholas Manganaro
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DALLAS--(BUSINESS WIRE)--Eyelit Inc., a global leader in Manufacturing Execution (MES), Quality Management (QMS), and Factory Automation solutions, announces several new additions to its leadership team to grow the company and support functional depth for its clients. In addition to recently naming Jason Adams as CEO and Board Member, there are several new additions to Product, Sales, and Marketing leadership, adding robust, proven layers of authority and decades of experience.
To lead the company's efforts and unleash the potential of robust solutions to markets across the globe, Eyelit has several new members joining its leadership team:
Rav Grover, Global Chief Financial Officer & Board Director
Rav brings significant experience in executive leadership, strategy, corporate finance, M&A, and financial reporting. Rav is a CPA, chartered accountant, and proven entrepreneur who has co-founded two previous start-up companies and seen them through maturation. Rav has served as a CFO in diverse industries and has led infrastructure development to support transformative industry growth.
John Lischefska, Vice President of Product Management
John has 30+ years of experience in manufacturing, supply chain software markets, and product management leadership roles. He has been involved in the design and development of two manufacturing execution systems and was a co-founder or officer of three manufacturing software companies. John has also managed the design and development of several Enterprise Resource Planning and supply chain management systems, including three modules of Microsoft's flagship ERP, Microsoft Dynamics 365 Enterprise Edition. Prior to joining Eyelit, John was Group Product Manager at Nuvolo. He has also served as Director of Industry Product Management at Microsoft, Vice President of Product Management and Marketing at Fullscope, and Vice President of International Operations at SynQuest.
Dan Wilson, Vice President of Sales
Dan joins Eyelit as VP of Sales, Americas. He has 20+ years of experience selling enterprise software solutions and leading sales teams, mostly in the manufacturing and industrial Internet of Things space. He has worked for big players like Siemens and Rockwell but also has a wealth of knowledge from roles at smaller software companies. Most recently, Dan led a global manufacturing sales team for Element AI, an artificial intelligence company recently purchased by ServiceNow, and led sales and marketing for WorldQuant Predictive, a predictive analytics startup.
Steve McCafferty, Marketing Director
Steve McCafferty joins Eyelit as a Marketing Director. Steve has 20+ years in marketing, business development, and sales, with nearly a decade of experience positioning Industrial Internet of Things/Manufacturing Execution Systems (IIoT/MES). Having worked at companies like PTC & Rockwell Automation, Steve has an extensive background in launching and executing growth strategies in the manufacturing space.
Proven Team; Ambitious Growth Objectives
Jason Adams says: "Adding these leaders is a significant step toward the company's pursuit of becoming a world leader in factory Digital Transformation Solutions. This team is excited to engage with the manufacturing industry at a critical time in our journey, and I am confident they will accelerate our ambitious growth objectives."
About Eyelit
Eyelit, Inc. is the leader in Manufacturing Execution (MES), Quality Management (QMS), and Automation solutions for visibility, control, and coordination of manufacturing operations for the aerospace & defense, battery technology, electronics, medical device, semiconductor, and solar industries. Eyelit uniquely delivers a broad set of smart factory and Industry 4.0 solutions, including Asset Management, Factory and Equipment Integration (Automation/IoT), Manufacturing Execution (MES), Recipe Management, Quality Management, and Business Process Management. These solutions enable customers to rapidly and cost-effectively optimize production and company processes. Learn more at www.eyelit.com.
About MESTEC
MESTEC's Manufacturing Execution System (MES) software drives and improves factory performance by focusing on key manufacturing business pain points, including people, time, cost, and compliance. By eliminating spreadsheets, paper-based operations, and manual data collection, MESTEC MES delivers improved performance driven by dynamic production planning, automated shop-floor data collection, and real-time performance analytics. MESTEC is a cloud-based solution designed to be rapidly deployed with minimal up-front costs. This provides customers with immediate operational and financial value. Major customers in Europe include companies from across diverse manufacturing sectors, such as Siemens, Thales, Martin's Rubber, and Higgidy, who benefit from improved insight into shop floor data to increase productivity and reduce manufacturing costs. Learn more at www.mestec.net.
For questions or queries, please contact: Steve McCafferty, Marketing Director, at This email address is being protected from spambots. You need JavaScript enabled to view it. or 484-919-5621.
NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE:NGVT) announced today that it will release its second quarter 2022 earnings after the stock market close on Tuesday, August 2, 2022.
The company will host a live webcast on Wednesday, August 3, 2022, at 10:00 a.m. (Eastern) to discuss second quarter 2022 fiscal results. The webcast can be accessed here or on the investors section of Ingevity’s website.
You may also listen to the conference call by dialing 833 927 1758 (inside the U.S.) or 929 526 1599 (outside the U.S.) and entering access code 067253. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on August 3, 2022, through August 2, 2023, at this replay link.
Information on how to access the webcast and conference call, along with a slide deck containing other relevant financial and statistical information, will be posted on the investors section of Ingevity’s website prior to the call.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect, and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers; and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,850 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information visit www.ingevity.com.
Caroline Monahan
843-740-2068
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Investors:
John Nypaver
843-740-2022
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DUBLIN--(BUSINESS WIRE)--The "Innovations in Wellhead Compression, Produced Water Remediation, Methane Pyrolysis, and Advanced Digital Solutions in the Oil & Gas Industry" report has been added to ResearchAndMarkets.com's offering.
The Oil and Gas TOE provides intelligence on innovations pertaining to technologies, products, and processes, along with strategic insights, in the upstream and downstream processes in the oil and gas industry.
This edition of the Oil and Gas (O&G) TOE features information on the use of digitized compressors to improve gas lift operations' stability and efficiency in the upstream oil and gas sector. The TOE covers innovations based on the deployment of drones and digital twins for efficient oil and gas assets inspection and management to reduce expenditures.
The TOE additionally provides insights on the developments in micro-expansion turbine systems for cost effective and emissions free power generation from natural gas. The TOE also provides latest innovations in the use of innovative and cost effective methane pyrolysis system for emissions free hydrogen production from natural gas.
The TOE finally provides intelligence on the use of membrane bioreactors for produced water remediation in fracking oil fields, and the use of cognitive-AI solutions to optimize oil and gas operations.
Innovations in Wellhead Compression, Methane Pyrolysis, and Advanced Digital Solutions
For more information about this report visit https://www.researchandmarkets.com/r/iroe2b
ResearchAndMarkets.com
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HOUSTON--(BUSINESS WIRE)--Today, Harvest Midstream (Harvest) announced the signing, funding, and closing of a transaction to purchase the remaining interest of Arrowhead Gulf Coast Holdings, LLC (AGCH), a critical network of pipelines and terminals serving the Louisiana refinery market and regional production. The transaction will bring AGCH under full ownership of Harvest. Prior to today’s announcement, a fund managed by BlackRock Real Assets held a 37.5% stake and Harvest owned the remaining 62.5%.
“Harvest has a long history of operating in southern Louisiana,” Harvest CEO Jason Rebrook said. “The closing on AGCH is a continuation of our longstanding commitment to the region. It also shows the tremendous potential we see along the Louisiana Gulf Coast. We are committed to providing best-in-class service to our customers as the region continues to grow.”
The AGCH system includes nearly 300 miles of crude and condensate pipelines and terminal assets in South Louisiana. The BOA/CAM pipelines are integral to the crude supply of the Valero Meraux and PBF Chalmette refineries. Other pipeline and terminal assets include Golden Cocodrie, Atchafalaya, Eugene Island, Erath Tank Farm, Burns dock, Burns terminal, and Sabine.
Harvest Midstream:
Harvest Midstream is a privately held midstream service provider based in Houston, TX that operates various crude oil and natural gas gathering, storage, transportation, treatment and terminalling assets across the United States. Learn more about Harvest at www.harvestmidstream.com
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As investors become more selective, fintech, cyber, supply chain and alternative energy opportunities remain hot and key beneficiaries of global VC funding, reaching $120.2 billion during Q2’22.
Investors increased focus on profitability while the Americas and Europe show most resilience, attracting $66.2 billion and $27.3 billion in VC funding, respectively, in Q2’22.
Global fundraising reached $158.6 billion at mid-year: a record pace despite market uncertainty
NEW YORK--(BUSINESS WIRE)--Against a backdrop of geopolitical, supply chain and economic uncertainty, overall global VC investment is falling, but several sectors, including fintech and cleantech, are beneficiaries of more selective investments.
According to the Q2’22 edition of Venture Pulse — a quarterly report, published by KPMG Private Enterprise, that analyzes key VC deals and trends globally — fintech, cybersecurity, supply chain management and alternative energy and energy storage opportunities are continuing to attract significant interest from investors. This is despite global VC investment dropping to $120.2 billion across 8,420 deals in Q2’22.
The Americas attracted $66.2 billion in VC investment — over half of the total global VC investment — during Q2’22, with the US accounting for $62.3 billion of this amount. Europe’s market showed strong resilience during the quarter, attracting $27.2 billion in investment during Q2’22. Despite the second successive quarter of decline, VC investment in Europe remained high compared to pre Q2’21. Q2’22 was the most subdued in Asia, dropping to an eight-quarter low of $24.5 billion across 2,206 deals.
Investor interest in supply chain and logistics continues to grow as industry challenges continue to have an impact. Soaring global energy prices and increased concerns around energy security has driven investors to look at alternative energy and storage options. Investments in electric vehicles, battery technologies and increasingly hydrogen are becoming more attractive.
The US attracted the world’s largest VC deals during Q2’22, including a $2 billion raise by Epic Games, a $1.7 billion raise by Space X, and a $1.5 billion raise by Gopuff. With its $1.2 billion raise, Germany-based fintech company Trade Republic accounted for the fourth spot — the only company outside of the US to raise a $1 billion plus round during the quarter. In Asia, the largest deal of the quarter was an $805 million raise by India-based Dailyhunt.
“With valuations declining, many tech companies performing poorly on the public markets, and no end in sight to the level of geopolitical uncertainty, notwithstanding other challenges facing the VC market globally, we’re starting to see investors instructing their portfolio companies to preserve cash,” said Jonathan Lavender, Global Head, KPMG Private Enterprise, KPMG International.
“Heading into Q3’22, this trend is expected to continue as start-ups look to survive in an increasingly challenging environment where profitability will be of critical importance.”
Key Highlights – Q2’22
Global fundraising remains on record pace, driven by activity in the US
Global fundraising activity remained on record pace at mid-year, with $158.2 billion in fundraising by the end of Q2’22. The US helped buoy global fundraising amounts, accounting for $121.5 billion at mid-year, compared to the $138.9 billion annual record high the region saw in 2021. VC investment in cybersecurity, alternative energy, electric vehicles, and battery storage in the US held strong in Q2’22 and is well-positioned to remain hot heading into Q3’22.
Fundraising activity in Europe fell off record pace, with $13.3 billion in fundraising at mid-year, while fundraising in Asia remained very subdued compared to previous highs, with $16.9 billion raised in the first half of 2022.
No end in sight to uncertainty but interest in new tech to grow
Heading into Q3’22, the global uncertainty plaguing the world is expected to continue, which will likely continue to keep the IPO window shut and VC investment soft. Down rounds could become more common as companies are forced to raise funding rounds despite the challenging fundraising environment.
M&A activity globally could increase as investors look for deals among companies experiencing challenges and start-ups in various industries look to consolidate to improve their economies of scale and market positions. In tech, the crypto tide is likely to turn with further consolidation among firms heading into Q3’22 as many try to cope with a major sell-off in assets.
“While there’s still dry powder out there, over the next quarter, VC investors are going to become a lot more critical of targets and are likely to place increasing emphasis on profitability,” said Conor Moore, Head of KPMG Private Enterprise in the Americas Region & Partner at KPMG in the US.
“We’ve been talking about potential consolidations for a while, particularly in more mature industries like e-commerce. While the top one or two or three companies in a particular space might continue to be attractive to investors, the rest will likely see a pullback. This will likely drive consolidation as companies run out of cash.”
Notes to Editors
About KPMG Private Enterprise You know KPMG, you might not know KPMG Private Enterprise. We’re dedicated to working with businesses like yours. It’s all we do. Whether you’re an entrepreneur, a family business, or a fast-growing company, we understand what’s important to you.
The KPMG Private Enterprise global network for Emerging Giants has extensive knowledge and experience working with the startup ecosystem. From seed to speed, we’re here throughout your journey. You gain access to KPMG’s global resources through a single point of contact—a trusted adviser to your company. It’s a local touch with a global reach.
About KPMG International
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 144 countries and territories with more than 236,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
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