PORTLAND, Ore.--(BUSINESS WIRE)--The Board of Directors of Northwest Natural Holding Company (NYSE: NWN) has declared a quarterly dividend of 48.25 cents per share on the Company's common stock.
The dividend will be paid on Aug. 15, 2022 to shareholders of record on July 29, 2022. The Company's indicated annual dividend rate is $1.93 per share.
About NW Natural Holdings
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon and has been doing business for more than 160 years. It owns Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 785,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 21 Bcf of underground gas storage capacity in Oregon.
NW Natural Water currently provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. When all pending acquisitions close, NW Natural Water will serve nearly 150,000 people through approximately 61,000 connections across five states. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
Investor Contact: Nikki Sparley
Phone: 503-721-2530
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ATLANTA--(BUSINESS WIRE)--Accenture (NYSE: ACN) is using a proprietary database powered by artificial intelligence (AI) to help Colonial Pipeline, the largest refined products pipeline in the United States, reduce regulated and deregulated electric utility rates for its interstate pipeline system.
The energy-management project leverages Accenture’s Utility Tracking System (UTS), a proprietary database of approximately 30 million anonymized utility bills that the company has been aggregating for more than 20 years. Built to identify power tariff options around the world, UTS uses AI-powered insights and automation as part of Accenture’s SynOps platform to continuously improve the efficiency and reliability of electricity rate-savings recommendations.
Accenture is using insights generated by UTS to evaluate power bills for operations at approximately 80 Colonial Pipeline pump stations along its 5,500-mile pipeline system, which delivers approximately 100 million gallons of refined petroleum products daily to markets in the Southern and Eastern United States. Armed with information about tariff options, Accenture presents lower-cost options — e.g., reduced cost per kilowatt-hour — to Colonial Pipeline, and then works with utilities to help implement new rates.
“This initiative, which is part of our ongoing effort to optimize utility rates, has shown encouraging results early on and should continue to help us in our comprehensive review of all utility accounts on our system,” said Tony Leo, manager of energy management and power optimization for Colonial Pipeline. “We look forward to our continued partnership with Accenture as we identify opportunities to transition to renewable energy to power our pump stations.”
Yusuf Tayob, group chief executive of Accenture Operations, added, “Our work for Colonial Pipeline is a great example of how Accenture’s long-term investments in technologies are helping clients deepen business resilience amid evolving market conditions. We look forward to making further progress on this project and to helping Colonial Pipeline evaluate how it can buy green energy, which increasingly is powering infrastructure as consumers and stakeholders demand cleaner air and less environmental impact.”
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.
About Colonial Pipeline:
Colonial Pipeline Company, founded in 1962, connects refineries – primarily located in the Gulf Coast – with customers and markets throughout the Southern and Eastern United States through a pipeline system that spans more than 5,500 miles. The company delivers refined petroleum products such as gasoline, diesel, jet fuel, home heating oil, and fuel for the U.S. military. Colonial is committed to safety and environmental stewardship across its operations. More information about Colonial is available at www.colpipe.com.
Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture. This content is provided for general information purposes and is not intended to be used in place of consultation with our professional advisors. This document refers to marks owned by third parties. All such third-party marks are the property of their respective owners. No sponsorship, endorsement or approval of this content by the owners of such marks is intended, expressed or implied.
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Adding solutions capabilities from Taiwan-based semiconductor and advanced manufacturing specialist allows cleantech water innovator to address high technology’s needs
BOSTON--(BUSINESS WIRE)--Gradiant, a global solutions provider and developer for cleantech water, today announced it has acquired WaterPark Environment Corp (WaterPark), a design and construction firm based in Taiwan that is focused in water technologies for advanced manufacturing in the high tech industries of semiconductor and microelectronics.
“This partnership will help semiconductor and other advanced industries achieve the purest water at the highest yield while meeting environmental discharge limits and recovering precious resources that would have otherwise been wasted.”
The acquisition strengthens Gradiant’s portfolio of proprietary technologies and applications expertise in industrial water, specifically high-rate biological wastewater, advanced oxidation, and ultrapure water. Gradiant’s full range of technologies and end-to-end solutions will also become accessible to the leading manufacturers of Taiwan’s advanced industries that WaterPark serves. Existing semiconductor and microelectronics clients of the combined business include the world’s most established brands such as Global Foundries, Micron, Intel, TSMC, UMC, AUO, and Chimei.
“This partnership will help semiconductor and other advanced industries achieve the purest water at the highest yield while meeting environmental discharge limits and recovering precious resources that would have otherwise been wasted,” said Prakash Govindan, COO of Gradiant. “For global industries under pressure from the supply chain shortage, climate change, and rising material costs, our technology innovations are essential to meet business needs for operational continuity, sustainability, and cost.”
We are experiencing a prolonged global shortage of semiconductors that are required to control everything from automobiles to smartphones to appliances. As the semiconductor shortage persists, manufacturers face increasingly greater pressure to adopt sustainable and efficient practices in their water operations.
“Taiwan leads the world in regulating industrial water reuse and wastewater discharge,” said Huey-Song You, Chairman of WaterPark. “The island is the world’s center for semiconductor manufacturing and currently holds 65% of the global market share. Driven by strategic interests for risk management in the supply chain and self-sufficiency, semiconductor manufacturing is extending to new regions that are leveraging Taiwan’s best practices in water management in their production. Combining our proprietary technologies and industry expertise with Gradiant’s total water and digital solutions, we will help advanced manufacturing facilities worldwide best manage their water.”
About Gradiant
Gradiant is a global solutions provider and developer of cleantech water projects for advanced water and wastewater treatment. Gradiant’s end-to-end solutions and technology expertise enable sustainable and cost-effective treatment of the world’s most important water challenges. With a full suite of differentiated and proprietary technologies, powered by the top minds in water, Gradiant serves its clients’ mission-critical operations in the world’s essential industries. Gradiant was founded at the Massachusetts Institute of Technology (MIT) to create and deploy sustainable water treatment solutions and is uniquely positioned to address the world’s increasing challenges created by industrialization, population growth, and water stress. Today, with over 450 employees, Gradiant operates from its global headquarters in Boston, regional headquarters and global technology labs in Singapore, and offices across twelve countries. For more information, please visit www.gradiant.com.
About WaterPark
WaterPark Environment Corp. is a water technology design and construction firm serving advanced manufacturing clients in the semiconductor and microelectronics industries. WaterPark’s proprietary technologies solve the range of water challenges of industrial clients throughout Asia Pacific using advanced biological, chemical, and physical processes. WaterPark is a spin-off from ITRI (Industrial Technology Research Institute); since its inception in 1973, ITRI has incubated over 280 innovative companies, including the world’s leading semiconductor foundries, TSMC and UMC. WaterPark is headquartered in Hsinchu, Taiwan. For more information, please visit www.waterpark-env.com.
Corporate:
Felix Wang
Gradiant, VP of Marketing
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LYNCHBURG, Va.--(BUSINESS WIRE)--$BWXT #earnings--BWX Technologies, Inc. (BWXT) (NYSE: BWXT) will issue a press release detailing second quarter 2022 results on Monday, August 8, 2022, after market close and will host a conference call at 5:00 p.m. EDT.
Listen-only participants are encouraged to participate and view the supporting presentation via the Internet at www.bwxt.com/investors. The dial-in numbers for participants are (U.S.) 844-200-6205 and (International) 929-526-1599; access code: 875922. A replay of the call will remain available on the BWXT website for a limited time.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 14 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.
Media Contact
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Director, Media and Public Relations
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Investor Contact
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DUBLIN--(BUSINESS WIRE)--The "Natural Gas Liquid Market Research Report by Product (Ethane, Isobutene, and Propane), Application, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Natural Gas Liquid Market size was estimated at USD 45.47 billion in 2021, USD 48.42 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.73% to reach USD 67.24 billion by 2027.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Natural Gas Liquid Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Natural Gas Liquid Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Natural Gas Liquid Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Natural Gas Liquid Market?
4. What is the competitive strategic window for opportunities in the Global Natural Gas Liquid Market?
5. What are the technology trends and regulatory frameworks in the Global Natural Gas Liquid Market?
6. What is the market share of the leading vendors in the Global Natural Gas Liquid Market?
7. What modes and strategic moves are considered suitable for entering the Global Natural Gas Liquid Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/3mrbhr
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Density Meter Market (2022-2027) by Type, Applications, Industry Vertical, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Density Meter Market is estimated to be USD 1046.5 Mn in 2022 and is projected to reach USD 1285.52 Mn by 2027, growing at a CAGR of 4.2%.
Market dynamics are forces that impact the prices and behaviors of the Global Density Meter Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Density Meter Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Density Meter Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Market Segmentations
The Global Density Meter Market is segmented based on Type, Applications, Industry Vertical, and Geography.
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/fiq801
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Offshore Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global offshore wind energy market reached a value of US$ 9.14 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 24.71 Billion by 2027, exhibiting a CAGR of 18.03% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Offshore wind energy relies on wind turbines located in ocean waters to generate electricity, which is transmitted via cables to the mainland grid. It is a cost-effective, abundant, and clean source of energy. It can provide reliable and affordable renewable power near coastal energy load centers wherein there is a scarcity of sites for large-scale renewable energy development.
It helps reduce greenhouse gas (GHG) emissions, increase energy security and diversity, create jobs, and promote sustainable development. At present, there is a rise in the adoption of renewable sources of energy production and consumption across the globe, which is catalyzing the demand for offshore wind energy.
There is presently a considerable increase in the number of offshore wind farms worldwide. This, in confluence with the burgeoning energy sector, represents one of the key factors impelling the growth of the market. Moreover, onshore wind energy is nowadays near the development limit in several countries on account of the visual and noise impact constraints that make it increasingly challenging to find appropriate sites.
Besides this, physical blockages from buildings and landscapes like hills or mountains can also cause inconsistencies in production, and consequently, onshore wind cannot fails in generating energy year-round. However, recent developments in offshore wind energy are reducing visual impacts, minimizing turbulence, and lowering noise constraints. It is also more productive than land-based wind energy due to higher and more consistent wind speeds, which is impelling the market growth.
Furthermore, the construction of offshore wind turbine plants is more feasible as large offshore turbines can be transported using barges or ships. This, coupled with increasing investments in upcoming offshore wind power projects by governing authorities, is driving the market.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Offshore Wind Energy Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
7 Market Breakup by Foundation Type
8 Market Breakup by Capacity
9 Market Breakup by Location
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/zhn1dn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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OLDWICK, N.J.--(BUSINESS WIRE)--The U.S. inland marine line rebounded to pre-COVID-19 pandemic levels owing to a strong increase in top-line premium and a decline in the loss ratio, according to an AM Best report.
The new Best’s Special Report, titled, “Inland Marine Rebounding From Pandemic Obstacles,” states that inland marine insurance, typically among the most profitable property/casualty (P/C) lines, experienced its worst loss ratio in 12 years in 2020, even higher than the P/C industry’s overall loss ratio, breaking a decade-long trend. Amid the pandemic surge, inland marine insurers saw costs to settle damaged cargo claims and contingency claims from event cancellations increase significantly.
However, according to the report, inland marine premiums rebounded and grew by 15% in 2021, following a 2% decline in the previous year, attributable to the lifting of COVID-19 travel and cargo movement restrictions, the economic recovery and the general hardening of the commercial insurance market. “If the U.S. economy avoids a prolonged recession, inland marine premium should continue to grow,” said Christopher Graham, senior industry analyst, industry research and analytics, AM Best. “The general hardening in the property market and growing focus on adequate property valuations should contribute to inland marine premium growth.” The inland marine segment’s loss ratio also improved by approximately 15 percentage points to 49.5%, in line with the loss ratio prior to the pandemic.
Inland marine insurance is composed of a very diverse group of coverages, including cargo, communications equipment (e.g., cell phones), event cancellation, fine art, personal watercraft and pet health insurance, among others. In particular, pet and travel-related insurance lines were bright spots in 2021, related to pandemic factors. “Although the market remains top-heavy, with two insurers writing more than 25% of direct premiums, concentration has been diluting slowly,” said David Blades, associate director, industry research and analytics, AM Best. “As niche coverages such as pet insurance grow, AM Best expects further market dilution.”
Going forward, the inland marine insurance segment could be impacted by lower shipping activity due to the inflationary pressures, and if the United States moves toward a recession. However, inflationary pressures on cargo values also could lead to premium increases that outpace the drop in goods shipped. At the same time, inflationary pressures also will challenge construction spending, which rebounded in 2021 and even exceeded 2019 levels. Housing starts, which were near a post-financial crisis peak, have started dropping as well.
To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=307908.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Christopher Graham
Senior Industry Analyst, Industry
Research and Analytics
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Christopher Sharkey
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NEW YORK--(BUSINESS WIRE)--#BestClassProducts--H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $50 billion of equity capital under management, is pleased to announce that its portfolio company, United Flow Technologies (“UFT”), a platform established to invest in the municipal and industrial water and wastewater market, has completed the acquisitions of Shape, Inc. (“Shape”), Engineered Equipment Solutions (“EES”), Newman Regency Group (“Newman Regency”) and Southwest Valve & Equipment (“Southwest Valve”). UFT has completed seven acquisitions since its formation in July 2021.
These acquisitions represent four leading providers of best-in-class products and value-added services to the municipal water and wastewater markets throughout the United States, and accelerate UFT’s strategic entry into new territories, product categories and OEM partnerships.
As part of the transactions, UFT will partner with the leadership teams of each business to support their growth initiatives within an integrated and operationally cohesive UFT, with each business’ leadership team and brand remaining in place. Additionally, each of the key principals from each acquired company will become shareholders of UFT. Terms of the transactions were not disclosed.
“We are very excited to partner with the Shape, EES, Newman Regency and Southwest Valve teams, all of whom represent market leaders in their respective regions throughout the United States. We believe that these outstanding companies will thrive as part of the UFT platform and be able to accelerate their long term growth and value creation plans,” commented Matt Hart, CEO of UFT.
“We are thrilled to continue supporting management and UFT in their efforts to further enhance and expand UFT’s product offering and geographical reach,” added Rahul Vinnakota, Managing Director at H.I.G.
About Shape, Inc.
Founded in 1979 and headquartered in Pleasanton, CA, Shape is a provider of pumps and process equipment to the municipal water and wastewater markets. Shape provides industry-leading products and repair services to its customers via multiple offices throughout California. For more information, visit www.shapecal.com.
About Engineered Equipment Solutions
Founded in 2003 and headquartered in State Center, IA, EES is a provider of process equipment products and services to the municipal water and wastewater markets. EES offers high quality, innovative solutions to its customers via multiple offices across Iowa, Colorado and Nebraska. For more information, visit www.e-equipmentsolutions.com.
About Newman Regency Group
Founded in 1999 and headquartered in Stafford, TX, Newman Regency is a provider of process equipment products and services to the municipal water and wastewater markets. Newman Regency provides market-leading products from top-tier manufacturers to its customers via multiple offices across Texas and Oklahoma. For more information, visit www.newmanregencygroup.com.
About Southwest Valve & Equipment
Founded in 2001 and headquartered in Fresno, CA, Southwest Valve is a provider of flow control products and services to the municipal water and wastewater markets. Southwest Valve offers its customers the most up-to-date sustainable custom manufacturing solutions via multiple offices across California, Nevada, Arizona and New Mexico. For more information, visit www.southwestvalve.com.
About United Flow Technologies
United Flow Technologies is a platform established in July 2021 to invest in the municipal and industrial water and wastewater market. UFT partners with leading equipment providers to provide world class products, efficient solutions, and valuable services to municipalities and industrial customers across the United States. For more information, visit www.uft.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates. |
Rahul Vinnakota
Managing Director
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Vivek Jain
Principal
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SAN FRANCISCO--(BUSINESS WIRE)--Stem, Inc. (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy software and services, will hold a conference call on Thursday, August 4, 2022, to discuss its financial results for the quarter ended June 30, 2022 and business outlook.
The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time.
The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (855) 327-6837, or for international callers, (631) 891-4304 and referencing Stem.
A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers, +44 (412) 317-6671. The passcode for the replay is 10019481. The replay will be available until Sunday, September 4, 2022. An archive of the webcast will be available shortly after the call on Stem’s website at https://investors.stem.com/overview for twelve months following the call.
About Stem, Inc.
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation, and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility, and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. Stem is a leader in the solar asset management space, bringing project developers, asset owners, and commercial customers an integrated solution for solar and energy storage management and optimization. For more information, visit www.stem.com.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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Stem Media Contacts
Suraya Akbarzad, Stem
Cory Ziskind, ICR
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NORTH BETHESDA, Md.--(BUSINESS WIRE)--$ESAB #ESABCorporation--ESAB Corporation ("ESAB" or the “Company”) (NYSE: ESAB), a world leader in fabrication and specialty gas control technology, announced today that it will issue a press release providing financial results for the second quarter of 2022 on the morning of Tuesday, August 9, 2022. The Company will hold a conference call to discuss these results beginning at 8:00 a.m. Eastern on that day, which will be open to the public by calling +1-888-550-5302 (U.S. callers) and +1-646-960-0685 (International callers) and referencing the conference ID number 4669992 and through webcast via ESAB’s website www.ESABcorporation.com under the “Investors” section.
ESAB’s financial results press release and supplemental information referenced on the call, if any, for the second quarter 2022 will be available under the “Investors” section of ESAB’s website prior to the conference call. A link to a replay of the call will also be available on the ESAB Corporation website later that day.
About ESAB Corporation
ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and specialty gas control technology, providing our partners with advanced equipment, consumables, specialty gas control, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world. To learn more, visit www.ESABcorporation.com.
Investor Relations Contact
Mark Barbalato
Vice President, Investor Relations
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Phone: 1-301-323-9098
Media Contact
Tilea Coleman
Vice President, Corporate Communications
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Phone: 1-301-323-9092
DUBLIN--(BUSINESS WIRE)--The "Global Biofuel Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global biofuel market is evaluated at US$102.162 billion for the year 2020, growing at a CAGR of 4.02% to reach US$134.589 billion by the year 2027.
The key drivers for market growth are the rising concerns regarding greenhouse gas emissions, which are contributing to global warming and climate change. Additionally, the increasing interest in the consumption of biofuels is due to the diminishing levels of fossil fuels, and the world has the pressure of moving to other alternative sources of energy. Particulate matter gets reduced by 10% and carbon monoxide by 11%, in contrast to diesel when biofuel is used. One of the most important factors in the development of biofuel is its ability to reduce air pollution (Environmental Protection Agency report).
To control the emissions of air polluting substances into the atmosphere, strict rules and guidelines have been set by governments across the globe. The utilisation of biofuel as a replacement for traditional fossil fuel is also going to support the sustainable development goals set up by the United Nations, which makes its role even more significant. This, in turn, is further propelling the business growth opportunities for the market players over the coming five years.
Concerns about pollution and climate change
The developing concerns concerning environmental pollution and greenhouse gas emissions around the world are one of the key components enhancing the worldwide biofuel market's development. Numerous nations across the globe have been progressively cognizant of the dangers concerning climate change and greenhouse gas emissions, and subsequently, there have been plans and approaches by various nations to embrace the utilisation of biofuels for controlling environmental pollution and climate change issues. The positive effect of utilising biofuels, like reducing environmental degradation, has made biofuels a viable option for development towards achieving sustainable development goals, for instance, those of the 2015 Paris Agreement. Additionally, with severe limitations on vehicular emissions and government backing and motivators for the advancement of biofuel, the worldwide biofuel market is anticipated to grow during the forecast period.
Global initiatives are being launched to promote biofuel as an environmentally friendly fuel.
Governments in various countries are implementing plans for sustainable development, and as a result, they are providing assistance for the production of biofuels, which can serve as a source of income for producers. There have been subsidies and initiatives such as commodity credit corporations, federal crop insurance subsidies, biomass crop assistance programs, and various others in the U.S. The European Union established funding programs such as the Investment Plan for Europe and the European Structural and Investment (ESI) Funds, the EU Horizon 2020 research and innovation framework program, Mission Innovation (MI), the Innovfin Energy Demo Projects (EDP) facility, and the Innovation Fund.
Exhausting non-renewable energy sources
Different options for non-renewable energy sources are being investigated for a long time as there is a danger of exhaustion of non-renewable energy sources later on. Alongside, there is a consistent quest for alternative options that additionally come from following the world's present needs, like sustainable development and climate safeguarding. Biofuel is a fuel that satisfies all these standards alongside its far and wide accessibility, which makes it a huge competitor in the list of choices for customary non-renewable energy sources.
The high cost and probable food shortages are the downsides.
Significantly high expenses are involved in producing biofuels as it is a complex and expensive procedure. The creation of biofuels requires land. This affects the cost of biofuels just like that of food crops. Additionally, though growing engineered biofuel crops can profit farmers financially, the overabundance of such crops can likewise prompt a loss of biodiversity. There are also worries that utilising important cropland to develop fuel yields could affect the cost of food and might prompt food shortages.
The growing popularity of electric vehicles can have a negative impact
Electric vehicles are acquiring a huge measure of prominence as an option in contrast to conventional petroleum derivative vehicles. The costs of electric vehicles have been decreased by the automaker organizations, making electric vehicles more mainstream and consequently adding to their market development. The legislatures of different nations are giving sponsorships to electric vehicles, and declarations have been made by significant automaker organisations to deliver more electric vehicles. Many nations, like China, have been contributing intensely to their electric vehicle infrastructure. Thus, the promotion of the electric vehicle market could hinder the development of the biofuel market in the coming five years.
Segmentation
By Production Technology
By Biomass Source
By State
By Geography
Companies Mentioned
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HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced a potentially significant expansion of its global liquefied natural gas (LNG) business through investment in a new large-scale LNG facility under development by Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), in Jefferson County, Texas. ConocoPhillips has entered into a Heads of Agreement (HOA) with Sempra to acquire a 30% direct equity holding in Port Arthur Liquefaction Holdings, LLC and an LNG offtake equivalent to approximately 5 million tonnes per annum (Mtpa) from the Port Arthur LNG project.
The first phase of the project is fully permitted and expected to include two liquefaction trains and LNG storage tanks, as well as associated facilities capable of producing, under optimal conditions, up to approximately 13.5 Mtpa of LNG. As one of the top five natural gas marketers in North America, ConocoPhillips will bring extensive commercial expertise and resources to benefit the project. Under the terms of the HOA, ConocoPhillips will supply the gas for its 5 Mtpa offtake and may provide additional gas supply services to the Port Arthur LNG facility. In addition, ConocoPhillips will have the option to acquire certain LNG offtake and equity ownership from future contemplated LNG trains at the Port Arthur LNG site, where a similarly sized Phase 2 project is also under development.
“ConocoPhillips has been a driving force in the LNG industry since we helped open the Atlantic LNG market beginning in the 1950s, and then the Asia-Pacific market by delivering the first LNG cargo to Tokyo Bay in 1969,” said Ryan Lance, chairman and chief executive officer. “The decision to enter into this agreement with Sempra provides us with a ground-floor opportunity to participate in premier LNG developments, reinforcing our commitment to helping solve the world’s energy supply needs as we transition to a lower-carbon future. Sempra brings a long history of successful LNG project development, and we look forward to working together to provide reliable LNG to support the energy transition and strengthen U.S. and global energy security.”
“At Sempra, we believe bold new partnerships will be central to solving the world’s energy security and decarbonization challenges,” said Jeffrey W. Martin, chairman and chief executive officer of Sempra. “That is why we are excited to announce this proposed partnership with ConocoPhillips, a leading global energy producer that also shares our vision of responsibly developing and delivering cleaner energy resources.”
The companies will also evaluate development of low-carbon projects, including a carbon capture and storage (CCS) project for the Port Arthur LNG facility, and Sempra Infrastructure would have the opportunity to participate in carbon capture and sequestration projects developed by ConocoPhillips in Texas or Louisiana in connection with the Port Arthur LNG project. Additionally, the HOA provides an opportunity for ConocoPhillips to acquire offtake and equity participation in Sempra’s development of the Energia Costa Azul LNG Phase 2 Project to be located north of Ensenada, Baja California, Mexico. This future expansion of the existing Energia Costa Azul project is ideally located to supply Asia-Pacific markets.
The referenced HOA is a preliminary, non-binding arrangement, with development of the Port Arthur LNG project subject to concluding definitive agreements and resolving a number of risks and uncertainties, including, among others, signing engineering and construction contracts, obtaining financing and reaching a final investment decision between the parties.
“This HOA aligns with our Triple Mandate, the objectives of which are to reliably and responsibly deliver production to meet energy transition pathway demand, deliver competitive returns on and of capital to our shareholders, and achieve our Paris-aligned targets and 2050 net-zero operational emissions ambition,” added Lance. “We are now positioned among the largest natural gas producers in the U.S. through our recent acquisitions of Concho and Shell’s Permian assets and are interested in expanding our LNG presence. Equity ownership in the Port Arthur LNG project would allow ConocoPhillips to participate in future expansions and lower-carbon activities in line with our own strategic initiatives.”
The use of natural gas in place of coal and refined products represents an opportunity for significant reductions in greenhouse gas emissions across the globe. ConocoPhillips will leverage existing strengths in natural gas marketing and trading and emissions reduction projects in support of the Port Arthur LNG project as well as its growing global LNG portfolio. That portfolio includes the recent announcements of the company increasing its equity share in Australia Pacific LNG to 47.5% and selection as a partner in the North Field East Project in Qatar, further bolstering ConocoPhillips’ presence in the country. The company also licenses its liquefaction Optimized Cascade Process® in 27 trains around the world and has become one of the largest natural gas producers and marketers in North America.
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About ConocoPhillips
ConocoPhillips is one of the world’s leading exploration and production companies based on both production and reserves, with a globally diversified asset portfolio. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 13 countries, $93 billion of total assets and approximately 9,400 employees at March 31, 2022. Production averaged 1,747 MBOED for the three months ended March 31, 2022, and proved reserves were 6.1 BBOE as of Dec. 31, 2021. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as “anticipate," “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict," “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from any ongoing military conflict, including the conflict between Russia and Ukraine and the global response to it, or from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; insufficient liquidity or other factors, such as those listed herein, that could impact our ability to repurchase shares and declare and pay dividends such that we suspend our share repurchase program and reduce, suspend, or totally eliminate dividend payments in the future, whether variable or fixed; changes in expected levels of oil and gas reserves or production; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks or unsuccessful exploratory activities; unexpected cost increases, inflationary pressures or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business, including any sanctions imposed as a result of any ongoing military conflict, including the conflict between Russia and Ukraine; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to complete any announced or any future dispositions or acquisitions on time, if at all; the possibility that regulatory approvals for any announced or any future dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of the transactions or our remaining business; business disruptions following the acquisition of assets from Shell (the “Shell Acquisition”) or any other announced or any future dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced or any future dispositions in the manner and timeframe we anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation, including litigation related directly or indirectly to our transaction with Concho Resources Inc.; the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions or developments, including as a result of any ongoing military conflict, including the conflict between Russia and Ukraine; the ability to successfully integrate the assets from the Shell Acquisition or achieve the anticipated benefits from the transaction; unanticipated difficulties or expenditures relating to the Shell Acquisition; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from accidents, extraordinary weather events, civil unrest, political events, war, terrorism, cyber attacks or information technology failures, constraints or disruptions; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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Aircarbon replaces traditional plastics, providing scalable approach to decarbonization, sustainability
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Looking to significantly expand its regenerative practice of transforming air and greenhouse gas into a biodegradable, plastic-like material called “Aircarbon,” Newlight Technologies has chosen decarbonization solutions leader Black & Veatch to design the biotechnology company’s first commercial-scale plant.
Newlight uses a nature-inspired technology found in ecosystems throughout the world, including in the ocean, wherein naturally occurring microorganisms consume air and greenhouse gas through fermentation to produce a muscle-like material inside of their cells called PHB. PHB is an energy storage material made in most living organisms – from marine microorganisms to the roots of plants – and can be melted into shapes as a replacement for plastic. Founded in 2003, Newlight is the first company to directly transform greenhouse gases into PHB, a biomaterial that the company calls “Aircarbon,” at commercial scale.
Aircarbon competes on performance with various grades of polypropylene, the second largest-volume plastic in the world. With a variety of potential industries to serve, Newlight’s primary focus is on delivered material for the foodware, fashion and automotive industries. Customers and partners of Newlight, which launched its first commercial-scale Aircarbon production facility in 2020, include Shake Shack, Nike, Target, H&M, Ben & Jerry’s, Sumitomo, US Foods and Sysco, with millions of Aircarbon units delivered to consumers to date.
“Newlight’s goal is to help provide scalable, market-driven solutions to solving plastic pollution and climate change,” said Mark Herrema, Newlight’s CEO. “The Ohio plant will move us another step closer to our goal of large-scale impact, and we are thrilled to partner with Black & Veatch as part of that.”
“At a time when concerns about both climate change and ocean plastic are at the forefront of the push to make the world cleaner and greener, Newlight is a shining example of the innovative spirit needed to make a difference in our environment,” said Kevin Currence, project director at Black & Veatch. “This project that aligns with our values and our company emphasis on accelerating sustainability across all of the markets we serve.”
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
About Newlight
Newlight is a nature-inspired biotechnology company converting air and greenhouse gas into a biomaterial called Aircarbon®. Aircarbon is a high-performance, carbon-negative PHB biomaterial produced by naturally occurring microorganisms that is being used to replace plastic in industrial segments ranging from foodware to fashion. Newlight’s mission is to help end plastic pollution and climate change by replacing plastic with Aircarbon, creating global-scale economic and environmental value. For more information about Newlight and Aircarbon, visit www.aircarbon.com.
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WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources (NYSE: NJR) invites investors, customers, members of the financial community and other interested parties to listen to a live webcast of its fiscal 2022 third-quarter earnings results on Thursday, August 4, 2022, at 10 a.m. ET. President and Chief Executive Officer Steve Westhoven and Senior Vice President and Chief Financial Officer Roberto Bel will present an overview of NJR’s financial and operational performance for the fiscal 2022 third quarter ended June 30, 2022.
A few minutes prior to the webcast, visit www.njresources.com and select “Investor Relations.” Scroll down and click the webcast link under “Latest Events” on the right side of the page.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR: www.njresources.com.
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CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)--CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition and thermal process equipment, today announced increased order demand in the second quarter of 2022. Orders exceeded $12.6 million in the second quarter of 2022 compared to approximately $6 million in the second quarter of 2021 and orders of $16.7 million for the first half of 2022 compared to $9.7 million in the same period of 2021, yielding an increase of 73.2% in the first half of 2022 over 2021.
CVD’s orders in the first half of 2022 were attributed to the strong demand for the PVT-150 system developed to support the manufacturing of Silicon Carbide wafers used in high power electronics for EV charging & power transmission. Also contributing to the order flow is the need for nanotechnology materials including carbon nanotubes/fibers, nanomaterials on powder and superconducting tape. All these orders support the electrical vehicle market as well as the trend of the electrification of everything. In the first half of 2022, 20 combined CVD systems were ordered. The systems are planned to ship in the 2nd half of 2022 and into 2023.
“Our focus in 2022 is on applications that support electric vehicles and more broadly the electrification of everything, while sustaining our presence and support of our aerospace applications,” said Emmanuel Lakios, President and CEO of CVD Equipment Corporation. “We are encouraged and pleased with the response of the market place to our products, technologies and services.”
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by its customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, battery nanomaterial, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through its application laboratory, the Company provides process development support and process startup assistance with the focus on enabling tomorrow’s technologies™. It’s wholly owned subsidiary CVD Materials Corporation provides advanced materials and metal surface treatments and coatings to serve demanding applications in the electronic, biomedical, petroleum, pharmaceutical, and many other industrial markets.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, market and business conditions, the COVID-19 pandemic, the success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of, or failure to receive orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements, and other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor of the Private Securities Litigation Reform Act of 1995. The Company assumes no obligations to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Past performance in not a guaranty of future results.
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WALL, N.J.--(BUSINESS WIRE)--The board of directors of New Jersey Resources Corporation (NYSE: NJR) (the “Company” or “NJR”) unanimously declared a quarterly dividend on its common stock of $0.3625 per share. The dividend will be payable on October 3, 2022, to shareowners of record as of September 26, 2022.
The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
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www.njresources.com.
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CHICAGO--(BUSINESS WIRE)--Harbor Capital Advisors, Inc. (“Harbor”), a premier multi-manager investment firm offering access to innovative and specialized expertise across a range of investment strategies and vehicles, today announced the launch of the Harbor Energy Transition Strategy ETF (RENW).
The fully transparent ETF will seek to track the performance of the Quantix Energy Transition Index (the “Index”) before fees and expenses. The Index was developed by Quantix Commodities LP (“Quantix”) and is owned by Quantix Commodities Indices, LLC.
The commodities that comprise the Index serve one of the three purposes associated with the theme: (1) they are used to construct the new energy infrastructure (e.g. copper, aluminum, and silver); (2) they are “bridge fuels” that are less carbon-intensive and will provide energy between now and the net-zero state (e.g. natural gas); or (3) they incentivize investment in the new energy infrastructure (e.g. carbon credits).
Kristof Gleich, President and CIO of Harbor Capital Advisors said: “The world is undergoing a dramatic energy regime shift that has only been accelerated by recent events. We believe this will be one of the most significant macro themes in the financial markets for the next several decades. RENW is built to provide the opportunity to invest in this transition, through the commodities needed to facilitate change, as the world marches towards a net zero carbon emissions goal.
“As we continue our pursuit of delivering powerful and forward-looking investment solutions to meet the growing needs of our clients and investors, we are excited to bring this compelling strategy to market and are thrilled to be partnering again with Don Casturo and his team at Quantix. Their background and extensive experience investing, trading, and developing innovative commodities strategies at Quantix and previously at Goldman Sachs helps make them the ideal partner in managing this strategy for our clients,” added Gleich.
Quantix Commodities, the subadvisor to RENW, is a commodities focused asset manager specializing in the development and management of commodities-based investment strategies. The firm is an industry leader in delivering innovative and comprehensive commodity investment solutions to the marketplace.
“The investment in infrastructure required to build a new energy system is massive, and it will fundamentally change the commodities landscape. The Quantix Energy Transition index offers exposure for investors seeking to capture this evolutionary theme. We are pleased to partner with Harbor in bringing this cost-effective, exciting new ETF to market,” said Don Casturo, Founding Partner & CIO at Quantix.
The launch of RENW expands Harbor’s existing suite of ETFs to eight with additional offerings in the commodity, equity, fixed income, and thematic categories.
Harbor Capital specializes in identifying and partnering with best-in-class specialists in investment management. Managers and investment strategies are chosen based on the results of a rigorous and robust evaluation process, which Harbor defines as its Alpha Edge due diligence methodology.
Harbor applies these principles to all of their investment offerings including ETFs—delivering powerful, compelling, and forward-looking strategies to the marketplace. Each is powered by specialized expertise, built for today’s investor, and leverage the distinct characteristics of ETFs.
The Quantix Energy Transition index
The Quantix Energy Transition Index (QET) was developed by Quantix with the objective of providing diversified exposure to the building blocks of the accelerating transition from carbon-intensive energy sources to less carbon intensive sources of energy using commodity futures. Commodity futures that provide exposure to the energy transition theme are considered component candidates for inclusion in the Index. Examples of component commodity candidates include copper, aluminum, nickel, zinc, lead, natural gas, silver, palladium, platinum, soybean oil, ethanol, emissions – European Union Allowances (EUA), and emissions – California Carbon Allowances (CCA). The selection of commodities is subject to periodic review by Quantix Commodities Indices (QCI). Under normal conditions, the Index maintains exposure to at least 10 commodities from its eligible universe in the United States (U.S.), Canada, United Kingdom (U.K.) and other European exchanges. Commodity futures from the component candidates are selected for the Index and weighted based on QCI’s quantitative methodology. Under normal circumstances, the Index is rebalanced on a monthly basis. The index listed is unmanaged and does not reflect fees and expenses and is not available for direct investment.
About Harbor Capital
Harbor offers a diverse family of cost-aware investment solutions managed by institutional-caliber firms. We source talented investment teams to manage portfolios and apply a rigorous fiduciary oversight program to monitor their performance and investment decisions. Harbor had combined assets under management of approximately $54.7 billion as of March 31, 2022. For more information, visit www.harborcapital.com.
CALL 1-800-422-1050 TO OBTAIN A PROSPECTUS. BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER A FUND’S INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES. THIS AND OTHER INFORMATION IS IN THE PROSPECTUS. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST.
All investments involve risk including the possible loss of principal.
Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. The ETF is new and has limited operating history to judge.
Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.
There is no guarantee that the investment objective of the Fund will be achieved.
Commodity and Commodity Linked Derivative Risk: The Fund has exposure to commodities through its and/or the Subsidiary’s investments in commodity-linked derivative instruments. The Fund’s investments in commodity-linked derivative instruments (either directly or through the Subsidiary) and the tracking of an Index comprised of commodity futures may subject the Fund to significantly greater volatility than investments in traditional securities. The Fund is non-diversified and may invest a greater concentrate of its assets in a particular sector of the commodities market (such as metal, gas or emissions products). As a result, the Fund may be more susceptible to risks associated with those sectors. Authorized Participant Concentration/Trading Risk: Only authorized participants (“APs”) may engage in creation or redemption transactions directly with the Fund. Energy Transition Risk: The commodities included in the Index may become less representative of energy transition trends over time and the Fund’s investments may be significantly impacted by government and corporate policies. Foreign Currency Risk: Because the Index may include futures contracts denominated in foreign currencies, the Fund could be subject to currency risk.
ETFs are subject to capital gains tax and taxation of dividend income. However, ETFs are structured in such a manner that taxes are generally minimized for the holder of the ETF. An ETF manager accommodates investment inflows and outflows by creating or redeeming “creation units,” which are baskets of assets. As a result, the investor usually is not exposed to capital gains on any individual security in the underlying portfolio. However, capital gains tax may be incurred by the investor after the ETF is sold.
The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice.
Quantix Commodities LP. is a third-party subadvisor to the Harbor Energy Transition Strategy ETF.
Foreside Fund Services, LLC. is the Distributor of the Harbor Energy Transition Strategy ETF.
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VANCOUVER, British Columbia--(BUSINESS WIRE)--$EVGIF #EVERGEN--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), Canada’s Renewable Natural Gas (“RNG”) Infrastructure Platform, is pleased to announce it has completed the acquisition of a 67% interest in Alberta’s Grow the Energy Circle Ltd. (“GrowTEC”).
“We are very pleased to complete the acquisition of GrowTEC and begin working alongside the GrowTEC team to convert the project to an RNG facility that supports the transition to carbon negative energy production in Alberta,” said Chase Edgelow, CEO of EverGen. “Along with our recently announced acquisition of RNG development projects in Ontario, EverGen is expanding across the country, now in three of the four largest Canadian jurisdictions for RNG. Our focus on industry consolidation and the build out of our RNG infrastructure platform is well underway as we move toward the potential to produce over 1,000,000 GJ of RNG annually.”
GrowTEC, located on the Perry Family farm near Lethbridge, Alberta, is a multi-faceted bioenergy venture of sustainable agriculture, integrating responsible best practices and renewable energy. At the core of GrowTEC is an operating farm scale biogas facility consisting of an anaerobic digester which has been converting biodegradable waste into biogas and generating renewable power for over seven years. EverGen and GrowTEC will be completing additions to the facility this year to process the biogas and upgrade it to RNG which will be tied into the local pipeline network. The Project has an offtake agreement with FortisBC and will contribute to FortisBC’s target to have at least 15% of its gas supply carbon neutral by 2030.
The Project is currently in Phase 1 of development which is expected to produce 80,000 gigajoules of RNG annually and will be complete by Q4 2022. EverGen will work with the GrowTEC team to commence Phase 2 expansion which is expected to add an additional 60,000 gigajoules of RNG annually for a total of 140,000 gigajoules of RNG production annually from the project.
EverGen acquired a 67% interest in the Project for cash consideration of $2.1 million, subject to working capital adjustments, and the issuance of 600,000 common shares of EverGen that were issued on July 13, 2022. Additional cash consideration of up to $4.0 million will be made upon achievement of certain operational milestones. Cash consideration for EverGen’s interest in the Project was funded from existing working capital and cash flow from operations.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
Forward Looking Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities legislation that involve risks, uncertainties and assumptions and relate to the Company’s current expectations and views of future events. . All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can often, but not always, be identified by the use of words such as “forecast”, “target”, “goal”, “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “project”, “predict”, or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. . The Company has based these forward-looking statements on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs.. In particular, this news release contains forward-looking statements including, but not limited to, the timing of the development of Phase 1 and Phase 2 of GrowTEC, the RNG production and amounts of the working capital adjustments as part of the purchase price. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are encouraged to review and carefully consider the risk factors pertaining to EverGen described in EverGen’s Annual Information Form dated January 31, 2022, which is accessible on EverGen's SEDAR issuer profile at www.sedar.com. Except as required by law, EverGen assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities law.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
EverGen Investor Contact
Kelly Castledine
416-576-8158
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EverGen Media Contact
Katie Reiach
604.614.5283
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Tom Linebarger to Serve as Chairman of the Board and Executive Chairman
COLUMBUS, Ind.--(BUSINESS WIRE)--Today, Cummins Inc. (NYSE: CMI) announced that, effective August 1, 2022, Tom Linebarger will end his term as Chief Executive Officer (CEO) and Jennifer Rumsey, President and Chief Operating Officer (COO), will assume the role of President and CEO.
Rumsey will be the seventh CEO and first woman to lead the company since it was founded in 1919. Linebarger will continue to serve as Chairman of the Board of Directors and in an Executive Chairman role, working directly with Rumsey on specific initiatives that position the company for continued success, including completing the pending acquisition of Meritor.
“Jen is a once in a generation talent and the right leader for Cummins at this important time in our history,” said Linebarger. “She has been my partner in developing the Destination Zero strategy, which sets forth how the decarbonization of our industry will be a significant growth opportunity for Cummins. Her background as an engineer and technology expertise provides her a deep understanding of the major technical changes taking place and how to capitalize on them. Jen uniquely understands our customers and business, having worked in many different parts of the business during her more than 20-year career, and in every role, she has consistently delivered results. Most recently, she led our global operations as COO during one of the most challenging periods in our history, delivering record revenues and dramatically improving product quality and our market position while addressing unprecedented supply chain constraints. Most importantly, Jen is a principled leader who cares deeply about our stakeholders. We share a common vision for Cummins, and I am confident that Jen will lead Cummins into an even more prosperous future.”
Tom Lynch, Cummins Lead Director, said, “On behalf of the Cummins board, I want to thank Tom for his three decades at the company, including the last 15 years where he served first in the COO role and then as CEO. His leadership has grown Cummins’ global business, positioned the company to lead in zero- and low-carbon solutions, and developed a highly capable and diverse management team to lead us through the technology transition. We look forward to his continued contributions as Executive Chairman. During our long-term strategic planning, the Board had the opportunity to see Jen lead on key business initiatives and co-author the Destination Zero strategy with Tom. Jen is the ideal choice to lead Cummins into its next chapter, and we are confident that Jen will drive continued success for our business and customers.”
Since taking on the role of COO in March 2021, Rumsey has overseen Cummins’ global operations. In February 2022, she was elected to the Cummins Board of Directors, and she will maintain her seat on the board.
“I am honored and proud to be appointed the next CEO of Cummins and excited about what the future holds for the company,” said Rumsey. “Growing up in Columbus, Indiana, where Cummins was founded, and spending most of my career here makes this announcement incredibly meaningful. I am grateful to Tom for his support and mentorship over the years and to the Board for their confidence in my leadership. My technical background, business experience and focus on people, purpose, and impact have prepared me for this moment. At Cummins, we build solutions that serve our customers’ needs and better our planet both now and in the future. At a time when technology is evolving more rapidly than at any point in our history, we must emphasize the critical role people play in our collective success. By putting people at the center of everything we do, we will power the path to decarbonization and advance our mission of powering a more prosperous world.”
Rumsey began her Cummins career working in Research and Technology, primarily focused on advancing technology to reduce criteria pollutants from diesel engines. Since then, she has held numerous positions of increasing responsibility and impact, including bringing new platforms and technologies to the market, driving improvements in product quality, and developing the capability of global teams. She has also been deeply engaged with some of the company’s most important original equipment manufacturer (OEM) partners. The leadership roles Rumsey has held include President of Components, where she oversaw a global portfolio of business units that delivered profitable growth while ensuring power solutions met performance and emissions goals, and Chief Technical Officer, where she led strategic investments in key technologies and applications to transition to lower carbon emissions products, laying the foundation years ago for the company’s New Power Business and Destination Zero strategy. Prior to Cummins, Rumsey worked for a fuel cell technology company.
Rumsey is a member of the Society of Women Engineers, Society of Automotive Engineers, the Purdue Engineering Advisory Council and Women in Trucking Association. She holds a Bachelor of Science in Mechanical Engineering from Purdue University and a Master of Science in Mechanical Engineering from Massachusetts Institute of Technology. Throughout her career, she has been an advocate for diversity, equity and inclusion and women in STEM fields. She resides in Columbus with her husband and has two college age daughters who are both pursuing engineering degrees.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24.0 billion in 2021. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/always-on.
Forward-looking disclosure statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; changes in international, national and regional trade laws, regulations and policies; any adverse effects of the U.S. government's COVID-19 vaccine mandates; changes in taxation; global legal and ethical compliance costs and risks; increasingly stringent environmental laws and regulations; future bans or limitations on the use of diesel-powered products; any adverse effects of the conflict between Russia and Ukraine and the global response (including government bans or restrictions on doing business in Russia); failure to successfully execute or integrate the acquisition of Meritor, Inc.; failure to realize all of the anticipated benefits from our announced acquisition of Meritor, Inc.; raw material, transportation and labor price fluctuations and supply shortages; aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, bankruptcy or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; failure to complete, adverse results from or failure to realize the expected benefits of the separation of our filtration business; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; challenging markets for talent and ability to attract, develop and retain key personnel; climate change and global warming; exposure to potential security breaches or other disruptions to our information technology environment and data security; political, economic and other risks from operations in numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; labor relations or work stoppages; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2021 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.
Jon Mills – Director, External Communications
317-658-4540
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