DUBLIN--(BUSINESS WIRE)--The "Refinery Condensate Splitter Units Market Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The global refinery condensate splitter units capacity increased from 3,447 thousand barrels per day (mbd) in 2016 to 4,185 mbd in 2021 at an Average Annual Growth Rate (AAGR) of 3.9%.
It is expected to increase from 4,185 mbd in 2021 to 5,248 mbd in 2026 at an AAGR of 4.5%. United Arab Emirates, South Korea, Iran, the US, and Qatar are the major countries that accounted for 58.6% of the total Global condensate splitter units capacity in 2021.
Scope
Reasons to Buy
For more information about this report visit https://www.researchandmarkets.com/r/qf3c5u
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Laura Wood, Senior Press Manager
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Agreement initiates collaboration for planned pilot installations of PI Energy’s pioneering solar photovoltaic technology on residential, commercial and industrial buildings
SAN DIEGO--(BUSINESS WIRE)--Today, buildings account for almost 40 percent of global energy-related CO2 and will play a major role in a sustainable transformation, according to the US Green Building Council. To offset that, commercial building owners and managers are expected to invest $960 billion globally between now and 2023 on greening their existing built infrastructure.
Helping to lead this crucial step toward sustainable energy use in the industry is Acento Real Estate Partners, which has partnered with PI Energy for pilot installations of next-generation photovoltaic (PV) cell technology on its buildings across the US. Acento joined PI Energy’s Pilot Deployment Program, providing the company access to PI Energy’s revolutionary module PV technology, which is designed to be wrapped onto roofs, walls and other surfaces, so that sunlight can power a large portion of electricity needs, while decreasing energy purchases and lowering operating costs.
Solar photovoltaic installations on buildings usually only cover a small fraction of some roofs. High costs and physical limitations associated with conventional PV technology restricts how much solar energy can be generated onsite on buildings. PI Energy is changing that with its flexible and low-cost PV technology.
PI Energy’s Pilot Deployment Program is the first phase of the company’s commercialization of its PV cell technology, which is based on its proprietary nanofilm solar cell innovation, using ultrathin silicon, enables practical and low-cost installation of solar modules that are designed to be lightweight, flexible, nontoxic, and easy to install on most surfaces.
“Acento’s participation in PI Energy’s Pilot Deployment Program is aligned with our low-carbon infrastructure and social impact goals, so that we can have onsite electrical power from otherwise unused surfaces, from our buildings, parking areas and surrounding walls,” said Andrés González, CEO of Acento. “Enhancing our real estate portfolio’s energy resilience and sustainability is even more attractive with a cost-competitive approach to solar energy.”
Rooted in a twenty-year history of supporting the workforce populations of the United States and over US $1 billion of AUM, Acento specializes in increasing their access to high-quality and affordable rental workforce housing, expanding their opportunities for equity and inclusion, and empowering their lives through community development and the integration of essential human wellness factors. PI Energy’s new technology aligns well with Acento’s strategy to offer investments that deliver not only high returns for investors but greater benefits to the society and the environment.
“We are excited to partner with Acento, which is leading the shift to more sustainable buildings,” said Phil Layton, CEO of PI Energy. “A large-scale transition to sustainability requires both a low-carbon energy and cost-competitive path. Acento is creative and innovative in its approach to improving buildings’ performance while reducing their carbon footprint, which makes the company an ideal partner.”
David Andresen, PI Energy
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Hydrogen Becoming Viable Alternative to Battery Electric Vehicles
BASINGSTOKE, England--(BUSINESS WIRE)--#hydrogencar--A new study from Juniper Research has found the number of hydrogen vehicles in service globally will exceed 1 million in 2027, from just over 60,000 in 2022 – a substantial growth of over 1,500%.
Reduced Customer Anxiety
The research identified hydrogen vehicles as an increasingly viable alternative to BEVs (Battery Electric Vehicles). The potential for enhanced range and rapid refuelling compares favourably with BEVs; reducing customer anxieties around BEV ownership. These positives have led to significant investment by car manufacturers, including Hyundai, Toyota and BMW, and this will translate into an increasingly popular and available product over the next 5 years.
Download the Free Whitepaper: Why Hydrogen Vehicles are Ready for the Mainstream
Consumer Versus Commercial Hydrogen Vehicles
The research forecasts that the consumer market will lead the hydrogen vehicles space, with consumer vehicles accounting for over 60% of hydrogen vehicles in service globally in 2027. The report identified the nascent development stage of many commercial vehicle types and the high average cost of hydrogen‑powered commercial vehicles, at over $70,000 globally in 2022, as key factors limiting adoption.
Research co-author Olivia Williams explained: “Manufacturers will need to make hydrogen vehicles more affordable to become viable for fleets, but increased range and suitability for heavy goods transport will ultimately drive growth and economies of scale.”
Infrastructure Concerns Still Prominent
Additionally, the report identified the low availability of fuelling infrastructure as a key challenge for wider adoption, but highlighted heavy industry investment as key to reducing this concern over the next 5 years. The report recommends that infrastructure vendors provide ‘green’ hydrogen, produced using renewable energy sources, to best take advantage of concerns around the environment driving the adoption of alternative fuels.
Hydrogen Vehicles market research: https://www.juniperresearch.com/researchstore/key-vertical-markets/hydrogen-vehicles
Download the whitepaper: https://www.juniperresearch.com/whitepapers/why-hydrogen-vehicles-are-ready-for-the-mainstream
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.
Sam Smith, Press Relations
T: +44(0)1256 830002
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.045000 per unit, payable on July 15, 2022 to unitholders of record on June 30, 2022. The net profits interest calculation represents reported oil production for the month of March 2022 and reported natural gas production during February 2022. The calculation includes accrued costs incurred in April 2022.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
40,102 |
|
1,294 |
|
380,958 |
|
13,606 |
|
$ |
98.77 |
|
$ |
4.84 |
Prior Month |
|
40,553 |
|
1,448 |
|
331,076 |
|
10,680 |
|
$ |
86.55 |
|
$ |
5.00 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $4.0 million for the current month on realized wellhead prices of $98.77/Bbl, up $0.5 million from the prior month’s oil cash receipts.
Recorded natural gas cash receipts from the Underlying Properties totaled $1.8 million for the current month on realized wellhead prices of $4.84/Mcf, up $0.1 million from the prior month.
Total accrued operating expenses for the period were $2.3 million, a decrease of $0.5 million from the prior period. Capital expenditures increased $0.7 million from the prior period to $1.0 million primarily due to the drilling of four new, non-operated drilling projects by a private operator in the North Louisiana area.
Given the increase in rig count and operator activity on the Underlying Properties, COERT Holdings 1 LLC (the “Sponsor”), is withholding $0.35 million from the current month’s net profits to be added to the cash reserve for approved, future development expenses this year. To date, the Sponsor has established a total reserve of approximately $1.5 million for approved development expenses this year. This reserve is intended to fund an expected increase in development expenses; however, if those expenses are ultimately delayed or are less than expected, or if the outlook changes, amounts reserved but unspent will be released as an incremental cash distribution in a future period.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2021 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 25, 2022. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power LLC (“NuScale”) announced today that the company will make a strategic shift from product development to product delivery by establishing the new VOYGR™ Services and Delivery (VSD) business unit. Comprised of services, supply chain, and client management functions, this new organization will be dedicated to working with customers and tasked with the delivery of services and equipment associated with the sale, development, delivery, and commercial operation of NuScale VOYGR™ power plants.
After receiving the first ever small modular reactor design (SMR) approval from the U.S. Nuclear Regulatory Commission (NRC) in August 2020, NuScale has been focused on completion of its deployment readiness program, including finalization of the standard plant design and supply chain readiness like extensive manufacturing trials. In May 2022, NuScale became the first publicly traded company focused on the design and deployment of SMR technology; this growth, in combination with this announced strategic shift, will bolster and accelerate the commercialization of NuScale’s SMR technology.
Additionally, the customer-centric restructuring is a critical step to prepare the organization to scale and meet the rapidly growing global demand for NuScale’s premier clean energy solution. For NuScale’s current customer, Utah Associated Municipal Power Systems’ Carbon Free Power Project, current project activities include the placement of long-lead equipment orders. Other landmark customer engagements in Poland and Romania underscore the need for a proactive restructuring to ensure the efficient and effective delivery of NuScale’s contractual obligations for customer projects.
“Positioning NuScale towards product delivery is a natural and exciting next step for the company,” said NuScale President and Chief Executive Officer John Hopkins. “We are dedicated to changing the power that changes the world. Working closely with our customers to deploy our groundbreaking SMR technology that is setting a new standard for clean, reliable, and safe power is a critical part of that mission.”
The organization will be led by Thomas Mundy, who will transition from his role as NuScale’s Chief Commercial Officer (CCO) to President, VOYGR™ Services and Delivery, reporting to Hopkins, and will have full Profit and Loss (P&L) accountability for the new business unit. Mundy has served as NuScale’s CCO since 2017, and in this role, he oversaw critical commercial global business activities, including marketing, communications, business development and sales, and services functions for the United States and abroad.
“As more utilities, institutions, and countries see NuScale’s VOYGR™ plants as the premier energy solution to address the challenge of mitigating climate change while protecting global prosperity, NuScale is ready to meet the moment,” said Thomas Mundy, President, VOYGR™ Services and Delivery. “That is why now is the pivotal time for NuScale to undergo this tactical expansion to prepare our organization to scale and ultimately to improve the energy futures for all.”
In February 2022, the company expanded its leadership team to include Clayton Scott, who joined NuScale as Executive Vice President of Business Development in support of NuScale’s transition to a product and service delivery organization and was reporting to Mundy. Scott will continue to lead the sales and marketing and communications teams, and report directly to Hopkins.
About NuScale Power
NuScale Power Corporation (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.
Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.
Forward Looking Statements
This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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(C) (503) 270-9329
HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of June 2022. Unitholders of record on June 30, 2022 will receive distributions amounting to $0.149656742 per unit, payable on July 29, 2022. The Trust received $201,622, which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company and $105,910 which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in June 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc. or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s payment of administrative expenses, income from the distributable net profits was $278,899.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx
HOUSTON--(BUSINESS WIRE)--ExxonMobil today announced a unique process technology to enable the manufacture of sustainable aviation fuel (SAF) from renewable methanol.
“SAF produced from renewable methanol can play an important role in helping the aviation industry achieve the transition to a net-zero future. Reaching that goal by 2050 will require a multi-faceted approach, including advancements in aircraft-related technology, changes to infrastructure and operations, and a dramatic increase in SAF supply. Our process technology can be an important step in this direction,” said Russ Green, ExxonMobil’s lower-emission fuels venture executive.
Proprietary Methanol to Jet Technology
ExxonMobil has a long history of developing advantaged proprietary process technologies and catalysts to make energy products that society needs. ExxonMobil is leveraging its core capabilities to develop a solution that converts methanol to SAF.
Methanol derived from the gasification of biomass and waste, as well as from lower-carbon hydrogen and captured carbon dioxide (CO₂), can be converted into SAF using ExxonMobil’s methanol to jet proprietary process technology and catalysts. Preliminary estimates by ExxonMobil suggest that this solution has a higher yield of jet fuel than other options. The ExxonMobil solution also provides the flexibility to use a mix of alcohols as feedstock and produce renewable diesel and lower-carbon chemical feedstocks.
“Methanol to jet technology is scalable and suitable for the conversion of methanol produced from today's world-scale plants. The work necessary to qualify the resulting renewable jet fuel pathway has already started,” said James Ritchie, president of ExxonMobil Catalysts and Licensing LLC.
Technology to Convert Other Biofeeds to SAF
Additionally, ExxonMobil has process technology and catalysts that are available to customers today which convert other renewable biofeeds, such as used cooking oils, animal fats, and vegetable oil, into renewable jet fuel. Our analysis shows that our BIDW™ isomerization catalyst provides a jet fuel yield advantage versus alternatives currently available.
Decarbonization and Hydrogen Solutions
ExxonMobil is evaluating opportunities to deploy these process technology solutions within a portfolio of options to help the aviation industry to decarbonize.
“ExxonMobil is advancing integrated solutions to extend our Carbon Capture & Storage (CCS) and Hydrogen capabilities to support the decarbonization objectives of our biofuels customers and partners,” said Siva Ariyapadi, bioenergy global business manager.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement:
This material includes forward looking statements. Actual future conditions and results could differ materially from the projections provided herein, including as a result of changes in development plans; the ability to scale new technologies on a cost effective basis; changes in law or government policy; unforeseen technical difficulties or developments; and other factors. Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
Media Line (972) 940-6007
Awards provide best value, economic impact, and S/MWBE inclusion
HOUSTON--(BUSINESS WIRE)--Today, the Port Commission of the Port of Houston Authority met in a special session and awarded two of the largest contracts in the organization’s history. The Commission approved the staff’s recommendation to award Weeks Marine and Curtin Maritime Corporation contracts totaling $430 million to complete the remaining Galveston Bay segments of the Houston Ship Channel expansion project.
“It’s an exciting day for Port Houston and the entire region and the millions of people who rely on the Houston Ship Channel for their livelihood and to bring them essential goods,” Chairman Ric Campo said. “One of today’s contracts to support Houston Ship Channel Expansion – Project 11 is historic and, to our knowledge, the largest award ever made.”
Port Houston staff recommended Weeks Marine and Curtin Maritime Corporation based on the best value, including cost, schedule, environmental components, and Small, Minority and Woman-owned Business Enterprises (S/MWBE) inclusion.
“The teams recommended were the top proposers in all of these areas – best schedules, lowest costs and estimated NOx emissions, and most S/MWBE inclusion,” Executive Director Roger Guenther said in his report. “Nearly 32% of the contracts will go to S/MWBE companies furthering our commitment to business equity, which is a priority for Port Houston.”
Also noteworthy, nearly 52% of the contract amounts are dedicated to the creation of marshes, bird islands and oyster reefs.
Both Campo and Guenther expressed appreciation to all involved in the historic collaborative effort, especially the U.S. Army Corps of Engineers (USACE), the Houston Pilots, and industry partners.
According to the USACE, the Houston Ship Channel is the busiest waterway in the nation. Port Houston’s eight public terminals and more than 200 private facilities have an economic impact of nearly $802 billion in annual activity to the nation, and support more than 2.1 million U.S. jobs.
Project 11 is 82% funded, and efforts continue to secure the remaining federal funds. When complete, the USACE study shows Project 11 should add more than $133 million annually in national economic value.
The Port Commission approved all of the items on the agenda, totaling $450 million supporting the channel expansion efforts.
“The Houston Ship Channel is vital in our region and we are proud to continue to invest in our collective future,” Chairman Campo said.
Last month, during its regular meeting, the Port Commission also awarded approximately $30 million towards continued investments in landside infrastructure and terminal operations.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at PortHouston.com.
Lisa Ashley-Daniels, Director, Media Relations, Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it will issue financial results for the Company's fourth quarter and full fiscal year ended April 30, 2022, after the market closes on Tuesday, June 28, 2022. Management will host a conference call and live audio webcast to discuss the results at 4:30 p.m. Eastern Time that day.
Hosting the call to review results for the fiscal third quarter will be Wahid Nawabi, chairman, president and chief executive officer, Kevin P. McDonnell, senior vice president and chief financial officer, and Jonah Teeter-Balin, senior director corporate development and investor relations.
Conference Call Event Summary
Date: June 28, 2022
Time: 4:30 PM ET (1:30 PM PT, 2:30 PM MT, 3:30 PM CT)
Toll-free: (877) 561-2749
International: (678) 809-1029
Conference ID: 1238926
Investors with Internet access may listen to the live audio webcast via the Investor Relations section of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software.
Audio Replay
An audio replay of the event will be archived on the Investor Relations section of the Company's website at http://investor.avinc.com.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
Jonah Teeter-Balin
+1 (805) 520-8350 x4278
https://investor.avinc.com/contact-us
Training in Energy Efficiency, Electrification and Decarbonization Gives Architects, Engineers, Building Maintenance Professionals, HVAC Technicians and Others a Competitive Advantage
OAKLAND, Calif.--(BUSINESS WIRE)--Please replace the release dated June 13, 2022 with the following corrected version due to updated links in the second and sixth paragraphs.
The updated release reads:
PG&E’S ENERGY TRAINING CENTERS OFFER FREE EDUCATIONAL RESOURCES
Training in Energy Efficiency, Electrification and Decarbonization Gives Architects, Engineers, Building Maintenance Professionals, HVAC Technicians and Others a Competitive Advantage
With California’s burgeoning energy efficiency, electrification and decarbonization workforce expected to grow at least 8 percent in coming years, Pacific Gas and Electric Company (PG&E) is helping ensure current and future workers are ready to succeed.
Through PG&E Energy Training Centers, California clean energy workers and jobseekers can access more than 400 educational resources to help expand their technical skills.
Programs include live, online energy efficiency classes led by experts in fields such as architecture, construction, maintenance, and homebuilding. The courses provide training in new technology and practical skills architects, engineers, HVAC technicians and others can apply on their jobs immediately.
“We are proud to provide those who design, build and operate buildings in California with a broad range of no-cost, high-quality training experiences that will help them participate to their fullest potential in achieving California's climate goals, expand their skills and advance along their own career pathway,” said Angela McDonald, Workforce Education & Training Manager
New courses added this year expand training on the benefits of electrification and advanced electric technology such as pump water heating, induction cooking and heat pump space heating and cooling.
Anyone can sign up for a free online course by visiting the Energy Centers catalog of classes.
The Energy Centers also offer resources for K-12 school programs, training to obtain certifications, and a free tool lending library for specific projects.
For more information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
DUBLIN--(BUSINESS WIRE)--The "Global Solid Oxide Fuel Cell (SOFC) Market - Analysis By Type, Application, End-User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2028)" report has been added to ResearchAndMarkets.com's offering.
The research report has analysed and segmented the SOFC Market by Value (USD Million). The report has also further analysed the SOFC Market By Type (Planar, Tabular), By Application (Portable, Transport, Stationary), By End User (Residential, Data canters, Military & Defence, Transportation, Communication & Industrial), By Region (Americas, Europe, Asia-Pacific, Middle East & Africa), By Country (United States, Canada, Brazil, Mexico, United Kingdom, Germany, France, China, Japan, South Korea) for the historical period of 2015-2021 and the forecast period of 2022-2028.
Company Profiles
More affordable electricity, more resilient power, and cleaner energy are three things demanded by businesses and communities in a post-climate-change environment where the concerns of growing carbon emissions, extreme weather events, and a fragile system are more serious than ever. Consequently, industry sectors across countries such as China, Germany, Japan and the United States are increasingly installing the SOFC units to address the growing cognizance pertaining to controlling the GHG emissions and utilizing the state-of-the-art technology offered by different SOFC companies.
The rising demand for clean energy over concerns of the environmental impact of energy generation from conventional sources such as coal and natural gas is expected to help grow the planar solid oxide fuel cell market across the globe.
Data canters need continuous and reliable power. A comprehensive backup power plan that includes fuel cells and other power sources is capable of providing the 99.99% availability needed by the data centers. This has encouraged companies to consider Solid oxide fuel cells at data canters. Also, Stationary fuel cells have found application in various sectors for primary as well as back-up power generation, and are generally based on combined heat and power (CHP) technology for both, heated water and air. That's why the demand of stationary SOFC is growing at a fast pace.
Scope of the Report:
Key Topics Covered:
1. Report Scope and Methodology
2. Strategic Recommendations
3. Global SOFC Market: Product Overview
4. Global SOFC Market: An Analysis
4.1 Market Size, By Value, Year 2015-2028
4.2 Global SOFC Market: Growth & Forecast
4.3 Impact of COVID-19 on SOFC Market
5. Global SOFC Market By Type
6. Global SOFC Market By Application
7. Global SOFC Market By End User
8. Global SOFC Market: Regional Analysis
9. Americas SOFC Market: An Analysis (2015-2028)
10. Europe SOFC Market: An Analysis (2015-2028)
11. Asia Pacific SOFC Market: An Analysis (2015-2028)
12. Middle East and Africa SOFC Market Analysis
13. Global SOFC Market Dynamics
13.1 Global SOFC Market Drivers
13.2 Global SOFC Market Restraints
13.3 Global SOFC Market Trends
14. Market Attractiveness
15. Competitive Landscape
15.1 Market Share of Leading Global Companies
15.2 Porter Five Force Analysis- Global SOFC Market
16. Global SOFC Market: Recent Developments, Merger & Acquisitions
17. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ufj76d
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BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announced today the results of voting at its annual meeting of shareholders held on June 17, 2022 (the “Meeting”). Each of the matters voted upon at the Meeting as set out below is described in greater detail in the Notice of Annual Meeting of Shareholders and Management Information Circular of Anaergia dated May 5, 2022 (the “Circular”).
There were present at the meeting registered shareholders and proxy holders holding or authorized to vote 18,132,849 subordinate voting shares (carrying one vote per share), being 56.71% of the issued and outstanding subordinate voting shares of Anaergia, and one registered shareholder authorized to vote 32,222,369 multiple voting shares (carrying four votes per share), being 100% of the issued and outstanding multiple voting shares of Anaergia.
Election of Directors
Each of the nominee directors listed in the Company’s Circular was elected as a director. The voting results for the seven directors nominated for election are set forth in the table below:
Name of Nominee |
Votes For
|
% |
Votes Withheld
|
% |
||||
Dr. Andrew Benedek |
143,245,095 |
97.57% |
3,572,592 |
2.43% |
||||
Dr. Diana Mourato Benedek |
142,624,481 |
97.14% |
4,193,206 |
2.86% |
||||
Peter Gross |
143,407,464 |
97.68% |
3,410,223 |
2.32% |
||||
Francis J. McKenna |
137,948,101 |
93.96% |
8,869,586 |
6.04% |
||||
Douglas Fridrik Parkhill |
143,022,912 |
97.42% |
3,794,775 |
2.58% |
||||
Alan Viterbi |
143,318,041 |
97.62% |
3,499,646 |
2.38% |
||||
Richard Chow |
143,175,619 |
97.52% |
3,642,068 |
2.48% |
Appointment of Auditors
KPMG LLP was appointed as auditor of Anaergia and the directors were authorized to fix the auditor’s remuneration by a resolution passed by a majority of the shareholders represented by proxy at the Meeting. The following represents the votes received with regard to such matter:
Votes For (Aggregate) |
% |
Votes Withheld (Aggregate) |
% |
|||
147,017,671 |
100.00% |
4,654 |
0.00% |
About Anaergia
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (RNG), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
For further information please see: www.anaergia.com
Source: Anaergia Inc.
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Service providers to offer solar smarter home solutions to consumers and the solar industry
TYSONS, Va.--(BUSINESS WIRE)--Solar is one of the fastest-growing sectors of the U.S. energy industry, with an average annual growth rate of 42 percent over the past decade. In response to increased demand, Alarm.com is offering an integrated solar monitoring solution for service providers with a new Solar Automation & Awareness service package and Solar Program Certification Course.
Alarm.com’s solar monitoring offering allows customers with SolarEdge and Enphase inverters (which combined account for more than 90 percent of all solar inverters in the U.S.) to monitor home solar panel energy production and consumption. With the Solar Monitoring add-on, Alarm.com subscribers can track energy data for the day, week, past month, and past 12 months. All within the Alarm.com mobile app, they can monitor the property’s solar data alongside security and other energy-saving devices and features, to lower power bills, and reduce environmental footprint. As part of a comprehensive smart energy management solution, solar monitoring gives subscribers the information and insights to reduce overall energy consumption and manage a broad ecosystem of automation devices to compensate when solar production is low, such as raising the thermostat setpoint or turning off lights.
“Alarm.com offers solar monitoring as part of an all-in-one solution in response to the customer’s desire for sustainable energy solutions with their home automation and security system,” said Shawn Barry, Vice President of Strategic Sales at Alarm.com. “The Alarm.com Solar Monitoring integration enables homeowners with SolarEdge or Enphase inverters to monitor home solar panel energy production and consumption in the Alarm.com mobile app, empowering them to make smarter decisions about home energy use.”
Alarm.com’s service provider partners recognize the growing opportunity that solar energy solutions can have on their business but many haven’t been sure where to start. The Alarm.com Solar Program can help service providers by integrating third-party solar market leaders into the proposal, licensing, and installation process. The Alarm.com Solar Program offers two new solar service plans that are available to either prospective or current Alarm.com customers.
The Solar Program officially launches this month. Alarm.com solutions have limited international availability. For more information, please visit alarm.com.
About Alarm.com
Alarm.com is the leading platform for the intelligently connected property. Millions of consumers and businesses depend on Alarm.com's technology to manage and control their property from anywhere. Our platform integrates with a growing variety of Internet of Things (IoT) devices through our apps and interfaces. Our security, video, access control, intelligent automation, energy management, and wellness solutions are available through our network of thousands of professional service providers in North America and around the globe. Alarm.com's common stock is traded on Nasdaq under the ticker symbol ALRM. For more information, please visit alarm.com.
Julie Rollend
Alarm.com Public Relations
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TUCSON, Ariz.--(BUSINESS WIRE)--Tucson Electric Power (TEP) is seeking updated rates in late 2023 to support safe, reliable service and its transition to cleaner energy. The proposed rates would cover the cost of new wind and solar energy resources, grid improvements, technology and security upgrades and other key investments that support service reliability, including:
TEP’s request, filed today with the Arizona Corporation Commission (ACC), would increase the average monthly bills of typical residential customers by 11.7 percent, or $14.22, over current levels starting in September 2023. That change would vary with usage, and customers will be able to mitigate the impact through energy efficiency and Time-of-Use pricing plans that offer lower rates during off-peak periods.
TEP has effectively managed its costs amid rising prices for equipment, parts, construction materials and other necessities since 2018, the year upon which current rates are based. The company’s operations and maintenance (O&M) costs increased just 2.4 percent annually, on average, from 2018 through 2021 despite average annual inflation of 3.6 percent during that period.
“The cost of providing safe, reliable service is increasing rapidly as inflation exacerbates the impacts of supply chain challenges, regional energy capacity constraints and extreme weather events,” said Susan Gray, TEP’s President and CEO. “Our proposed rates are needed to support systems and infrastructure that protect and upgrade our grid, expand our use of cleaner energy and help us serve the expanding energy needs of our growing community.”
Peak energy demand on TEP’s local energy grid has increased by 5.7 percent since 2019, driven by record heat events and the addition of more than 14,000 new homes and businesses to its customer base over the past three years. The cost of fuel and wholesale energy also has increased significantly in recent years, driving up expenses that, like O&M costs, are passed along to customers without any markup.
Supporting Cleaner Energy
TEP’s proposed rates support investments that will help the company manage long-term energy costs through increased use of wind and solar power systems that will generate 70 percent of its power by 2035. They also support the company’s plan to ramp down and ultimately retire its two units at the coal-fired Springerville Generating Station in eastern Arizona in 2027 and 2032. Those steps will help TEP end its use of coal and achieve an 80 percent reduction in carbon dioxide emissions by 2035, key objectives articulated in its 2020 Integrated Resource Plan, which the ACC acknowledged as being in the public interest.
TEP also is proposing more gradual recovery of anticipated costs related to its transition to cleaner energy. This proposal would support the development of wind farms, solar arrays, battery storage systems and other investments that help reduce our community’s carbon footprint. Allowing these costs to be passed along as they occur will mitigate the larger impacts that result from accumulations over longer periods between rate requests.
Assisting Customers
The proposed rates will increase the Lifeline discount from $18 to $20 per month for customers whose household income does not exceed 200 percent of the federal poverty level. They also would eliminate TEP transaction fees for most credit card payments from residential and small business customers as well as for cash payments made at third-party payment processors.
TEP has supported customers and our community during the ongoing pandemic through increased philanthropic giving, delayed recovery of higher energy expenses, direct bill credits and a campaign to connect qualifying customers to expanded federal aid and other bill payment assistance – efforts that have included door-to-door visits. Including all federal funding, contributions and other resources, TEP has directed nearly $33 million in assistance to customers and our community since 2020.
“We know our community has faced real challenges over these past few years because we’ve been there with support every step of the way,” Gray said. “Our systems and employees have delivered admirable reliability and strong service for customers throughout this extraordinarily difficult period. I am very proud of our company’s performance in living up to our values and the expectations of our customers.”
Additional information about TEP’s rate proposal is available online at tep.com/rate-proposal. Images and video clips showing some of the recent upgrades that would be reflected in the proposed rates are available online at tep.com/key-investments-gallery/.
TEP provides safe, reliable electric service to more than 438,000 customers in Southern Arizona. For more information, visit tep.com. TEP and its parent company, UNS Energy, are subsidiaries of Fortis Inc. (TSX/NYSE: FTS), a leader in the North American electric and gas utility business, with regulated utilities that serve more than 3.4 million customers across Canada and in the United States and the Caribbean. For more information, visit fortisinc.com.
Joseph Barrios
(520) 884-3725
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DUBLIN--(BUSINESS WIRE)--The "Global Fatty Acid Methyl Esters Market by Source, Product Type, Application, and Region - Size, Share, Outlook, and Opportunity Analysis, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
This report provides an in-depth analysis of the global fatty acid methyl esters market, and provides market size (US$ Million & Kilotons) and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering 2021 as the base year.
FAME (fatty acid methyl ester) is a form of fatty acid ester produced by transesterifying fats with methanol. The primary molecules in biodiesel are FAME, which are obtained by transesterification from vegetable oils. When base chemicals like sodium methoxide, potassium hydroxide, or sodium hydroxide are present, an alkali-catalyzed reaction between methanol and lipids produces FAME, which is employed in the manufacturing of biodiesel and detergents.
The most widely accessible biodiesel type in the marine industry is FAME-based biofuel, which is typically blended with regular marine diesel. FAME's application in the food industry as a thickening & emulsifying agent is expected to drive the market growth during the forecast period.
Growing demand for fatty acid methyl ester from various end-use industries is expected to benefit the global fatty acid methyl esters market. Fatty acid methyl ester is the most preferred alternative to conventional mineral-based products for applications in lubricants, paints & coatings, food & agriculture, detergent & surfactants, metal working, emulsifiers, and others.
This is owing to its superior properties such as high lubricity, excellent solubility inorganic solvents, high boiling points, non-toxicity, and biodegradability. Additionally, growing demand for fatty acid methyl ester in agrochemicals such as pesticide and fertilizer preparation is anticipated to further drive the fatty acid methyl ester market growth. Thus, the aforementioned properties and applications are expected to be key factors driving the global fatty acid methyl ester market growth over the forecast period.
However, the market's growth is expected to be restrained by high manufacturing costs due to unpredictable prices of raw materials and the global outbreak of coronavirus. Fatty acid esters required high processing cost. As a result, emerging nations such as Asia Pacific and the Middle East and Africa are still not able to employ high-cost technologies, which could limit the market for fatty acid esters.
Key features of the study:
Detailed Segmentation
Global Fatty Acid Methyl Esters Market, By Source:
Global Fatty Acid Methyl Esters Market, By Product Type:
Global Fatty Acid Methyl Esters Market, By Application:
Global Fatty Acid Methyl Esters Market, By Region:
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xslqx7
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Laura Wood, Senior Press Manager
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BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (NYSE: GPRK) (the “Company”) today announced that it has received the requisite consents in connection with its previously announced solicitation of consents (the “Consent Solicitation”) from holders of its 5.500% Senior Notes due 2027 (the “2027 Notes”). The Consent Solicitation was made pursuant to a Consent Solicitation Statement, dated June 8, 2022 (as amended, supplemented or otherwise modified, the “Consent Solicitation Statement”). The proposed amendments (the “Proposed Amendments”) to the indenture (the “Indenture”) governing the 2027 Notes intend to (i) address the impact of adverse market conditions and related drop in the price of crude oil during 2020 on the Company’s results, which in turn negatively impacted the restricted payments builder basket as currently in effect, and (ii) increase and reset the general restricted payments basket in the Indenture to provide the Company additional restricted payments capacity, which will give the Company additional financial flexibility that is aligned to its improved performance beginning in 2021. Full details of the terms and conditions of the Consent Solicitation, including the Proposed Amendments, were included in the Consent Solicitation Statement.
The Company has been advised that it has received consents from holders of at least a majority of the aggregate principal amount of the 2027 Notes (not including any 2027 Notes held by the Company or any of its affiliates) (the “Requisite Consents”). In connection with the receipt of the Requisite Consents, the Company expects to execute a supplemental indenture to the Indenture to effect the Proposed Amendments with respect to the 2027 Notes on June 21, 2022. The Company will make a cash payment equal to $10.00 per $1,000 principal amount of 2027 Notes (the “Consent Fee”) to holders of the 2027 Notes on the applicable record date that delivered their consents prior to June 17, 2022 at 5:00 p.m., New York City time (the “Expiration Time”) and did not revoke such consents. The Company expects to pay the Consent Fee on June 27, 2022. No Consent Fee will be paid to any holder of the 2027 Notes unless such holder delivered (and did not revoke) a consent in accordance with the terms of the Consent Solicitation Statement prior to the Expiration Time. The supplemental indenture will become effective upon its execution and delivery by the Company and the trustee but will provide that the Proposed Amendments will not become operative until the Company has paid the Consent Fee in full.
Credit Suisse Securities (USA) LLC acted as solicitation agent for the Consent Solicitation and D.F. King & Co., Inc. acted as the information agent, tabulation agent and paying agent for the Consent Solicitation.
Neither the Consent Solicitation nor any related documents have been filed with the U.S. Securities and Exchange Commission, nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Consent Solicitation Statement or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary.
The Consent Solicitation was made solely on the terms and conditions set forth in the Consent Solicitation Statement. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the 2027 Notes or any other securities of the Company or any of its affiliates. The Consent Solicitation has not been made to, nor has the Company accepted deliveries of consents from, holders in any jurisdiction in which the Consent Solicitation or the acceptance thereof would not have been in compliance with the securities or blue sky laws of such jurisdiction. This press release is also not a solicitation of consents to effect the Proposed Amendments.
ABOUT GEOPARK
GeoPark is a leading independent oil and natural gas exploration and production company with operations in Latin America and a proven track record of growth in production and reserves since 2006. GeoPark operates in Colombia, Chile, Brazil and Ecuador.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,” “assumes,” “will” or similar expressions. The forward-looking statements contained herein include statements about the consent solicitation. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, GeoPark’s business and operations involve numerous risks and uncertainties, many of which are beyond the control of GeoPark, which could result in GeoPark’s expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of GeoPark. Some of the factors that could cause future results to materially differ from recent results or those projected in forward-looking statements are described in GeoPark’s filings with the United States Securities and Exchange Commission.
The forward-looking statements are made only as of the date hereof, and GeoPark does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions on which certain of such forward-looking statements are based, investors should keep in mind that the results, events or developments disclosed in any forward-looking statement made in this document may not occur, and that actual results may vary materially from those described herein, including those described as anticipated, expected, targeted, projected or otherwise.
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Market Access Director
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-- Investment focused on Permian Basin Opportunities --
HOUSTON & FORT WORTH, Texas--(BUSINESS WIRE)--EnCap Investments L.P.(“EnCap”) and the team behind the Double Eagle family of companies (“Double Eagle”) announced today that they have entered into a strategic partnership to form Double Eagle Energy Holdings IV, LLC (“Double Eagle IV”) and Tumbleweed Royalty IV, LLC (“Tumbleweed IV”). The new entities have also received minority investments from Apollo Natural Resource funds (“Apollo”), Magnetar Capital (“Magnetar”), and other strategic institutional partners. Headquartered in Fort Worth, Texas, Double Eagle IV will primarily focus on investing in oil and gas properties in the Permian Basin, and Tumbleweed IV will focus on royalty and mineral investments across the Permian Basin. Double Eagle IV was formed by the same management team that successfully led its predecessor companies, with John Sellers and Cody Campbell continuing to serve as Co-Chief Executive Officers. Double Eagle has been one of the largest independent acquirers of oil and gas leasehold interests across Texas, the Rockies, and the Mid-Continent.
Formation of this new company follows the recent successful sale of Double Eagle III Midco 2 LLC (“Double Eagle III”), wholly owned by DoublePoint Energy, LLC (“DoublePoint”) to Pioneer Natural Resources Company (NYSE: PXD) for approximately $6.4 billion. Double Eagle IV will pursue a similar strategy that led to the success of the predecessor companies, but on a considerably larger scale and with a more substantial upfront commitment from funds managed by EnCap, along with Apollo, Magnetar, and the Double Eagle management team.
Cody Campbell and John Sellers, Co-Chief Executive Officers of Double Eagle, commented, “We are excited about this new partnership with EnCap and are thrilled to do business with a group of people who have been longtime personal friends. Pairing EnCap with our longtime investors, Apollo and Magnetar, along with several large strategic institutions and our own personal capital, provides us with a unique strategic advantage. Together with the financial strength of our partnership, our track record of success, and our world-class operating team, we can confidently and aggressively pursue very large acquisitions while continuing to organically assemble smaller opportunities and undertake an ambitious development program.”
Gary Petersen, Founder of EnCap Investments, said, “I have known Cody and John for many years and our team at EnCap has long admired their approach to business.” Kyle Kafka, Partner of EnCap Investments, added, “The Double Eagle team brings unique relationships and a proven track record of success in the industry. We are excited to partner with John, Cody and the entire management team and look forward to building a substantial business together.”
Advisors
EnCap engaged Vinson & Elkins LLP and Double Eagle engaged Akin Gump Strauss Hauer & Field LLP as their respective legal advisors.
About Double Eagle
Double Eagle is a Fort Worth, Texas-based energy company focused on acquiring and developing oil and gas assets throughout North America.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 22 institutional funds totalling approximately $38 billion and currently manages capital on behalf of more than 350 U.S. and international investors. For more information, please visit www.encapinvestments.com.
For Double Eagle:
Jordan Huelse
Vice President – Finance
817-928-3260
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For investor inquiries regarding EnCap:
Charles W. Bauer
Partner – Investor Relations
713-659-6100
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Matt Crystal
Managing Director – Investor Relations
713-659-6100
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Redbird Communications Group
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BASEL, Switzerland--(BUSINESS WIRE)--Syngenta Group today announced succession plans for its leadership team. Jeff Rowe, currently President, Global Seeds, will take over the leadership of Syngenta Crop Protection, effective July 1, 2022. His former role will be assumed by Justin Wolfe, currently Regional Director North America Seeds. As members of the Group Leadership Team, the two will report to CEO Erik Fyrwald. Jeff will relocate to Basel, Switzerland; Justin will continue to be based in Downers Grove, Illinois, USA.
Jon Parr, President, Global Crop Protection, will retire on September 30, after a 35-year tenure at the company, including the last seven years as head of the global crop protection business.
“I would like to thank Jon for his many achievements, steering the business and the team successfully through the pandemic and unprecedented supply chain challenges. During Jon’s tenure, Syngenta Crop Protection has grown back into the global market leader and has become a leader in biologicals and innovation,” said Syngenta Group CEO Erik Fyrwald. “At the same time, I am excited to have Jeff and Justin taking on their important new roles, building on our momentum to drive further growth of the Crop Protection and Seeds businesses and advancing our commitment to regenerative agriculture.”
Jeff Rowe was instrumental for the successful turnaround of the Seeds business, with outstanding growth and return to profitability. Most recently, he has spearheaded Syngenta Group’s efforts into regenerative agriculture and soil health. Prior to joining Syngenta in 2016, Jeff served in several leadership roles at DuPont Pioneer over a 20-year period. He has nearly 30 years’ diverse experience as an agriculture leader.
Justin Wolfe’s leadership and focus on strong commercial execution were key to significant business growth and market share gains in North America. He joined Syngenta in 2018 as Regional Director EAME Seeds, where he successfully led the creation of the specialized Seeds business. Prior to joining Syngenta, Justin had a strong track record with Monsanto over 20 years, holding roles in operations, strategy, sales and marketing, including Vice President, Europe and Middle East Commercial Operations.
With increasing ambitions for Syngenta Group’s Vegetable Seeds and Flowers business, Matthew Johnston will continue in his current global role as Head of Vegetable Seeds and Flowers, now reporting directly to CEO Erik Fyrwald as from July 1, 2022.
Under Jon Parr’s leadership in the past seven years, the Syngenta Crop Protection business grew 50 percent. He joined Syngenta Group and its predecessor companies in January 1987. Prior to his current role, Jon Parr was Chief Operating Officer EAME & Latin America from 2015 to 2016. Before that, he was Head of Global Crops & Assets for Syngenta from 2014, Regional Director for EAME from 2009 to 2013 and Head of Syngenta Flowers from 2007 to 2008. Through his long career at Syngenta Group, Jon has also held other roles across marketing, strategy and manufacturing.
About Syngenta Group
Syngenta Group is one of the world’s leading agriculture innovation companies, with roots going back more than 250 years. In more than 100 countries, the company strives to transform agriculture through breakthrough products and technologies that play a vital role in enabling the food chain to feed the world safely, sustainably and with respect for our planet. Syngenta Group, registered in Shanghai, China and with its management headquarters in Switzerland, draws strength from its four business units – Syngenta Crop Protection headquartered in Switzerland, Syngenta Seeds headquartered in the United States, ADAMA® headquartered in Israel, and Syngenta Group China – that provide industry-leading ways to serve customers everywhere.
For Syngenta Group photos and videos, please visit the Syngenta Group Media Library.
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Cautionary Statement Regarding Forward-Looking Statements
This document may contain forward-looking statements, which can be identified by terminology such as “expect,” “would,” “will,” “potential,” “plans,” “prospects,” “estimated,” “aiming,” “on track” and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. For Syngenta Group, such risks and uncertainties include risks relating to legal proceedings, regulatory approvals, new product development, increasing competition, customer credit risk, general economic and market conditions, compliance and remediation, intellectual property rights, implementation of organizational changes, impairment of intangible assets, consumer perceptions of genetically modified crops and organisms or crop protection chemicals, climatic variations, fluctuations in exchange rates and/or grain prices, single source supply arrangements, political uncertainty, natural disasters, and breaches of data security or other disruptions of information technology. Syngenta Group assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
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Based in Saudi Arabia, CNTXT aims to bring new cloud and industrial software solutions to the digital transformation space.
RIYADH, Saudi Arabia--(BUSINESS WIRE)--Aramco and Cognite, a global leader in industrial software, have launched CNTXT, a joint venture based in the Kingdom of Saudi Arabia. Headquartered in Riyadh, CNTXT will support industrial digitalization in the Kingdom and the wider MENA region.
CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software. These solutions and services will help companies in the public and private sectors future-proof their data infrastructure, increase revenue, cut costs, and reduce risks while enhancing operational sustainability and security. CNTXT is Google Cloud’s reseller for cloud solutions in the Kingdom and the exclusive reseller of Cognite Data Fusion® in the MENA region. Additionally, Google Cloud is expected to launch a “Center of Excellence” later this year to provide training to developers and business leaders on how to use cloud technologies.
Led by Abdullah Jarwan, appointed CEO of CNTXT, and a management team of local and international talent, CNTXT plans to significantly grow the team this year in hopes of becoming the top tech employer in the Kingdom.
The launch of CNTXT is a major milestone in the collaboration between Aramco and Aker ASA, the majority owner of Cognite. The partnership began in 2019 with the signing of a Memorandum of Understanding (MoU) to develop synergies and share knowledge on industrial digitalization and sustainability initiatives.
Ahmad A. Al-Sa'adi, senior vice president of Technical Services at Aramco, said: “CNTXT brings together industrial legacy, unmatched technology, and a truly talented team that will aid in the digitalization of the public and private sectors in the Kingdom. CNTXT will be an important catalyst of digitalization of the Kingdom.”
Øyvind Eriksen, president of Aker ASA and chair of the Cognite Board of Directors, said: “CNTXT will be an important vehicle for driving profitability and sustainability of the Kingdom’s industries through innovative use of technology. I look forward to seeing the company accelerate the digital transformation of the most important sectors in the region.”
Abdullah Jarwan, CEO of CNTXT, said: “The untapped potential in the digital transformation of the Kingdom of Saudi Arabia and the greater Middle East is enormous. With Google Cloud and Cognite offerings in our portfolio, we can help the public and private sectors innovate faster, scale AI-driven solutions, and turn data into value.”
Abdul Rahman Al Thehaiban, managing director, Middle East, Turkey, and Africa, Google Cloud, said: “Businesses all around the world turn to Google Cloud to enable growth and help them solve their most business-critical challenges. With CNTXT as Google Cloud’s reseller in the Kingdom, we will be leveraging the latest technologies and decades of expertise to help businesses grow and develop safely and securely.”
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
About CNTXT
Founded in 2022 and based in Saudi Arabia, CNTXT is a joint venture between Aramco and Cognite that delivers premium cloud and digital transformation products and services in the Middle East and North Africa. CNTXT’s digital offerings, including Google Cloud and Cognite Data Fusion, enable customers to achieve greater efficiency, sustainability, and profitability throughout their digital transformation journeys.
About Cognite
Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability.
Michelle Holford
Global PR Lead, Cognite
+47 482 90 454 (NO)
+1 (512) 744-3420 (US)
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DUBLIN--(BUSINESS WIRE)--The "Aviation Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The aviation fuel market was valued at USD 77.91 billion in 2020, and it is anticipated to reach USD 224.67 billion by 2027, registering a CAGR of more than 16.3% during the forecast period of 2022-2027.
Companies Mentioned
Key Highlights
Key Market Trends
Aviation Turbine Fuels Expected to Dominate the Market
Asia-Pacific Expected to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Air Turbine Fuel
5.1.1.1 Jet A-1
5.1.1.2 Jet A
5.1.1.3 Jet B
5.1.2 Aviation Biofuel
5.1.3 AVGAS
5.2 End-User
5.2.1 Commercial
5.2.2 Defence
5.2.3 General Aviation
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/u6zmnu
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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