Tesla Co-Founder and Spero Ventures Partner, Marc Tarpenning, Joins Board of Directors
NEW YORK--(BUSINESS WIRE)--Singularity Energy, the most intelligent grid decarbonization platform built on top of a transparent, traceable data layer by experts from Harvard, MIT, and Johns Hopkins, announced today the close of a $4.5 million Seed Round, led by Spero Ventures and Energy Impact Partners. The round also includes investments from existing investors; Third Sphere, J Ventures, and other individual investors. As part of the round, Marc Tarpening, Tesla co-founder and partner at Spero Ventures, will join the company’s board of directors.
Today, grid operators, utilities, and businesses have a limited understanding of their grid carbon emissions due to the lack of high-quality, time and location-based grid emissions data. Singularity’s mission is to change that by providing transparent and accurate data to grid operators, utilities, and businesses about their grid carbon emissions, while supplying them with actionable decarbonization insights and automated decision making via their platform. Singularity works with Harvard, Sense, Measurabl, Eversource, and several yet to be disclosed grid operators and utilities on decarbonization efforts.
Sense CEO Mike Philips said: "We used Singularity's intelligent decarbonization platform to demonstrate that automating EV charging can reduce carbon emissions by up to 14% nationwide and 43% in California. We chose Singularity for its high quality location and time-based emissions data, which play an important role in grid decarbonization. By combining smart home automation with carbon intensity data, we can accelerate emissions reduction in the residential sector as homes electrify."
“Blackstone estimates that the global decarbonization effort over the next three decades will require a massive $50 trillion investment,” said Wenbo Shi, Singularity Founder and CEO. “We’re excited to have both Spero Ventures and Energy Impact Partners support to help us build the most transparent, complete, and intelligent grid decarbonization tools available to grid operators, utilities, and end users.”
In addition to the Seed funding round, Singularity has received $1.2 million in grants from the National Science Foundation’s (NSF). The SBIR program aims to fund advanced research and development for cutting-edge scientific and engineering discoveries.
"Unlocking accurate and transparent data has been a critical catalyst for all sorts of innovation historically. Singularity is bringing the best quality carbon data & actionable intelligence to the market, and we are excited to see all the different ways their products get put to use by their broad set of customers. I believe Singularity will have a major impact on decarbonization efforts in the years to come and we are proud to back Wenbo and team,” said Marc Tarpenning, Venture Partner at Spero Ventures.
“The path to the net-zero economy runs through the electric grid,” said Sameer Reddy, Managing Partner at Energy Impact Partners. “Singularity’s platform provides unprecedented transparency and real-time carbon awareness to utilities, grid operators, and large enterprises across all sectors. With increasing scrutiny around emissions measurement, we believe this is an essential capability for the entire Fortune 1000 and beyond and are excited to be an early investor in the company’s journey.”
Singularity expects to use these funds to expand their product and technology roadmap, improve customer success, develop partnerships with key stakeholders, and continue to attract top talent.
For more information about Singularity Energy, please visit https://singularity.energy/.
About Singularity Energy
Founded in 2018, Singularity Energy is the most intelligent grid decarbonization platform built by experienced power systems and software experts from Harvard, MIT, and Johns Hopkins. Singularity’s platform provides high-quality, time and location-based grid emissions data, and a suite of innovative products such as developer APIs, and intelligent tools for grid operators, utilities, companies, and service providers to build data-driven decarbonization solutions. Singularity Energy is a winner of the Harvard Physical Science & Engineering Accelerator, the Greentown Labs Bold Idea Challenge in partnership with Schneider Electric, the National Science Foundation Small Business Innovation Research Grant, and a URBAN-X company.
About Spero Ventures
Spero Ventures is an early-stage venture capital investor in the things that make life worth living. We invest in determined founders building mission-driven technology companies in three focus areas: wellbeing; sustainability; learning, work, and play. We are high-conviction investors with backgrounds as startup founders, operators, and investors from landmark companies including eBay and Tesla. For more information, please visit us at https://spero.vc/, on Twitter @SperoVentures or on LinkedIn at https://www.linkedin.com/company/speroventures/.
About Energy Impact Partners
Energy Impact Partners LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.5 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of nearly 70 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and Oslo. For more information on EIP, please visit www.energyimpactpartners.com.
Ilyas Frenkel
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TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS technology, has been selected to provide multi-year monitoring of emissions for the expansion of rail infrastructure in the Province of Ontario.
“This is new customer, and a new infrastructure opportunity which was delivered by our team under the Kontrol Carbon solution platform,” says Paul Ghezzi, CEO of Kontrol Technologies. “In addition to the initial installation of analytics equipment and sensors, we will be monitoring the emissions generated from the site for three years which further expands our recurring revenues.”
Emission Monitoring and Compliance
Industrial facilities and infrastructure projects, operating continuously, and with a high level of constant emissions are often required to install a permanent, fixed, continuous emissions monitoring system (CEMS). CEMS must be able to identify correct ranges, response times and accuracy of measurement as well as have a reliable uptime and operation life so that the plant can continue to run.
Kontrol will be installing a customized CEMS solution as well as providing real-time monitoring over 3 years for a new rail infrastructure project. The rail infrastructure project is part of the current expansion of high-speed commuter rail expansion in the Province of Ontario. For Industry competitive purposes the customer will not be named at this time.
About Kontrol Technologies Corp.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company's product and service offering as expected, and government and regulatory factors impacting the energy conservation industry.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
Kontrol Technologies Corp.
Paul Ghezzi
CEO
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180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: (905) 766.0400
Investor Relations:
Brooks Hamilton
MZ Group - MZ North America
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NASHVILLE, Ark.--(BUSINESS WIRE)--Saint-Gobain, through its building products subsidiary CertainTeed LLC, has installed recycling technology at its gypsum wallboard plant in Nashville, Arkansas, which will allow the plant to recycle and reuse 65,000 tons of materials per year that otherwise would have been sent to a landfill.
The project represents a $1.3 Million investment from CertainTeed and comes as Saint-Gobain continues to roll out its new global Grow and Impact strategy, which includes reducing waste and increasing the circularity of raw materials at its manufacturing sites.
Gypsum wallboard is made from a gypsum slurry that is poured and dries between two sheets of paper. Some scrap materials, consisting of gypsum and paper, are normally created every time a production line is started up or shut down, or when production equipment is changed to manufacture different sizes of wallboard.
The new recycling technology in Nashville works by grinding the waste gypsum and waste paper down into fine particles, allowing the plant to capture and internally recycle the materials, which are sorted and then reintroduced to the production process at the plant. Today, each wallboard produced at CertainTeed’s Nashville facility includes some recycled content made available by this new process, and the company plans to increase the amount of recycled materials in its gypsum wallboard in the coming years.
“In Nashville and at our manufacturing sites around the world, we remain laser-focused on reducing waste, reducing our consumption of natural resources, and increasing recycling and circularity throughout our value chain,” said Jay Bachmann, Vice President and General Manager of CertainTeed Gypsum. “We will continue to look for ways to minimize our environmental footprint while maximizing our company’s positive impact for our customers and the communities where we do business.”
CertainTeed’s Nashville plant, and its nearby mine, sit on 3,500 acres of land in scenic southwest Arkansas. Today the plant and the mine employ nearly 200 people and are currently hiring mechanical engineers, process engineers, reliability engineers and for several roles in production. A complete listing of job openings at all Saint-Gobain locations, including the CertainTeed site in Nashville, can be found on the company’s careers website.
The recycling technology installed in Nashville follows several other recent actions taken by the company to solidify its commitment towards sustainability:
About CertainTeed
Through the responsible development of innovative and sustainable building products, CertainTeed, headquartered in Malvern, Pennsylvania, has helped shape the building products industry for more than 115 years. Founded in 1904 as General Roofing Manufacturing Company, the firm’s slogan “Quality Made Certain, Satisfaction Guaranteed,” inspired the name CertainTeed. Today, CertainTeed is a leading North American brand of exterior and interior building products, including roofing, siding, solar, fence, railing, trim, insulation, drywall and ceilings. www.certainteed.com.
About Saint-Gobain
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.
€44.2 billion in sales in 2021
167,000 employees, located in 75 countries
Committed to achieving Carbon Neutrality by 2050
For more details on Saint-Gobain, visit http://www.saint-gobain.com and follow us on Twitter @saintgobain.
David Rosen
Saint-Gobain Corporate Communications
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Accomplished manufacturing industry executive poised to lead NRE into the future
MT. VERNON, Ill.--(BUSINESS WIRE)--National Railway Equipment Company, an employee-owned global leader in the rail, marine, and power industries, today announced that it has appointed Merritt Becker chief executive officer. An accomplished executive and strategic business developer, Becker joins NRE from global engine and power generation company, Cummins Inc. He will join the company effective June 1, succeeding Steven Beal, who passed away in 2020. Since then, NRE has been led by its Board of Directors.
A veteran of the manufacturing sector, Becker spent the last 12 years at Cummins and its affiliates in a variety of executive-level roles, both in the U.S. and abroad. He most recently served as President and Managing Director of Cummins DKSH in Thailand. Before that he spent more than 12 years with diesel engine and truck manufacturer, Navistar Inc.
“This is an exciting day for NRE,” said John Miscione, Chairman of the NRE Board of Directors. “We have not been immune to the challenges facing our industry in recent years, which were exacerbated by the global pandemic and Steven’s passing. In the face of those obstacles, we have spent the last several years streamlining and stabilizing our operations to prepare the company for a successful future. Merritt’s appointment is a major piece of that strategy, and we are confident he is the leader who can take NRE forward in a rapidly changing industry.”
In taking the helm at NRE, Becker will be charged with serving OEM and aftermarket customers in the rail and inland waterway sectors, and creatively addressing the challenges the company’s customers face as the industry moves toward new technologies. NRE is well-positioned to assist them in the implementation of converging technologies in new and existing fleets to practically meet their objectives.
“I could not be prouder or more excited to join NRE and continue the wonderful legacy that the Beal family has nurtured for so many years,” Becker said. “The Board has worked diligently over the last few years to quietly develop and execute a strategy of streamlining and stabilization. This work has brought NRE to what I consider to be an ideal “fighting weight,” and ready to make some noise in the industry.”
Born, raised, and educated in the Midwest, Becker’s grandparents founded and owned small businesses with strong ties to their hometown – something that made a long-lasting impression on Becker from a young age. In fact, his understanding of the importance of companies like NRE to their local communities was also influential in the Board’s hiring decision.
“While Merritt certainly has the professional qualifications we sought in a new CEO, what also drew us to him was his emphasis on community and his embodiment of the culture and values that make NRE such a special place,” said NRE director, Susan Frangella. “So much of our culture is tied to the communities in which we operate, and from our very first meeting, Merritt eagerly embraced our family culture, our history, and above all else, our unwavering commitment to finding innovative ways to solve our customers’ business challenges.”
About National Railway Equipment
Headquartered in the U.S. heartland in Mt. Vernon, Illinois, employee owned NRE is a global leader in the rail, marine and power industries. With facilities around the world, NRE is proud to serve our customers with integrity and a commitment to industry leading customer service from each our global locations. NRE has delivered over 1200 new and remanufactured locomotives to North American and International railroads.
Jason Milch
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312-379-9406
Owner, OEM and EPC Guided by Charter to Achieve Execution Excellence
ELWOOD, Ill.--(BUSINESS WIRE)--#ChangeInPower--J-POWER USA Development Co. Ltd. (J-POWER USA) has achieved commercial operation with the first two Mitsubishi Power M501JAC gas turbines manufactured in North America at its Jackson Generation Project, a 1,200 megawatt (MW) combined-cycle power plant in Elwood, Illinois.
The Jackson plant dispatches power into the PJM regional transmission organization, modernizing and diversifying the Illinois power grid and generating enough electricity to power 1.2 million homes. The project supports Illinois’s commitment to renewable energy by providing efficient, flexible natural gas generation to complement wind and solar energy. It also reduces the state’s dependence on coal-fired generation.
J-POWER-USA, Mitsubishi Power, and the project’s engineering, procurement and construction contractor Kiewit Power Constructors Co. (Kiewit) together developed and signed a Charter to commit to honest and professional behavior, individually and as a team to build the new plant. The Charter highlights the team’s ability to achieve safety, quality, budget, schedule, stakeholder management, and teamwork as a measure of its success.
“The engineering, project execution, and teamwork for Jackson Generation have been exceptional,” said Mark Condon, President and CEO of J-POWER USA. “Mitsubishi Power and Kiewit have worked closely and transparently with the Jackson commissioning crews throughout the global pandemic to overcome the impact that it has had across the entire supply chain. We are proud to enter commercial operation on time with the first American-made M501JAC gas turbines and one of the most fuel-efficient natural gas power plants in the world.”
The JAC is the world's leading gas turbine, with an efficiency greater than 64 percent in combined cycle and the lowest emissions in its class. The Jackson Generation plant will be up to 50 percent more efficient than peaking plants and will produce more than 65 percent less carbon dioxide than a legacy coal-fired power plant. Mitsubishi Power’s TOMONI™ intelligent solutions will further optimize plant performance and reliability, while providing flexibility to respond to fluctuating energy demand and renewable energy supply. Remote monitoring services for Jackson Generation will detect anomalies and diagnose plant performance. These features along with a 25-year service agreement will enable J-POWER USA to reduce maintenance and operating costs as well as emissions.
Thomas Struchtemeyer, Project Manager, Kiewit, said, “J-POWER USA, Mitsubishi Power and our EPC team take pride in developing an efficient and reliable source of cleaner energy at Jackson Generation. We were able to overcome unprecedented challenges of building the plant during a global pandemic through consistent, open communication and extensive onsite safety measures. Working together, we effectively mitigated the impact and challenges related to the supply chain and logistics to successfully enter commercial operation on time.”
Steve Burris, Senior Vice President, New Generation Systems Project Execution, Mitsubishi Power Americas, said, “While we have executed this project during a challenging period with significant supply chain and labor interruptions, it has been one of our most efficient power plant startups for all makes and models of equipment. That's a testament to the corporate entities—owner, EPC and OEM—working together as a solid group and executing with a common focus. We truly align with the Charter that we all signed at project inception, which begins by stating that we will successfully design, procure, construct and commission Jackson Generation through open communication, mutual respect, trust and cooperation at all levels, and will proactively plan our work, coordinate with each other and be flexible. Together with our customers and partners, we are creating a Change in Power.”
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,300 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.
About Kiewit
Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada, and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; and mining. Kiewit had 2021 revenues of $12.1 billion and employs 28,800 staff and craft employees.
Communications Contacts
Christa Reichhardt
Senior Director, Marketing Communications
Mitsubishi Power
+1 407-484-5599
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Angela Nemeth
Media Relations Manager
Kiewit
+1-402-926-8951
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HOUSTON--(BUSINESS WIRE)--#cleanupenergy--Milestone Environmental Services, LLC (“Milestone”), one of the largest independent providers of energy waste sequestration services in the U.S., today announced the acquisition of an energy waste landfill permit in the Haynesville Shale for disposing of non-hazardous waste streams generated from oil and gas operations.
The permitted location is in Panola County, about 11 miles southeast of Carthage, Texas, and 18 miles northeast of Milestone’s active slurry injection facility outside of Center, Texas. Development plans are underway for the future site, which will ultimately be expanded to include integrated slurry injection and landfill waste management operations. This comprehensive disposal solution would provide E&P operators in the resurging Haynesville Shale with an efficient and environmentally sustainable option for disposing of their non-hazardous waste streams.
“The secure domestic supply of natural gas is crucial to the global economy and U.S. national security, and the increased use of natural gas is one of the most impactful green initiatives on the planet. The Haynesville Shale continues to be one of the most prolific natural gas basins in the U.S., and Milestone is excited to expand our infrastructure in the basin to enable our customers to increase their gas production in an environmentally responsible manner,” said Milestone President and CEO Gabriel Rio. “Development of the Panola Facility will compliment Milestone’s fast-growing and strategic energy waste management portfolio and enhances our efforts to Clean Up EnergySM by preventing soil and groundwater contamination, while also reducing our customers’ greenhouse gas emissions.”
Milestone currently operates seven slurry injection facilities utilizing a proprietary process that is both an economically efficient and environmentally superior method for oilfield waste disposal. The reinjection of hydrocarbon-contaminated waste is a form of permanent carbon sequestration, and thus materially reduces the carbon footprint of oil and gas operations. In addition to reducing carbon footprint, Milestone’s disposal methods enable E&P operators to avoid soil and groundwater contamination risks associated with onsite disposal methods that dispose of waste above the water table. Furthermore, Milestone’s two solid energy waste landfill disposal facilities are engineered to prevent contamination of soil and groundwater by using the most advanced protective technologies. Redundant liners, leak detection systems, groundwater monitoring wells, and rigorous maintenance programs are employed to meet or exceed the latest permitting requirements.
About Milestone Environmental Services
Milestone is a Net Negative energy waste sequestration company with assets throughout the Permian Basin, Eagle Ford Shale, and Haynesville Shale. We are one of the largest independent energy waste sequestration companies in the United States, and a key business partner to energy companies looking to reduce their carbon footprint through cost-efficient waste management solutions. Our network of slurry injection sites and best-in-class E&P landfills provides a new avenue for management and sequestration of hydrocarbon-rich energy waste streams. We are committed to protecting the environment and our communities by offering a better way to manage waste and play a key role in a forward-looking carbon agenda. Milestone is a partner in the transition to a sustainable energy future. For more information, please visit www.Milestone-ES.com.
Jessica Clements, This email address is being protected from spambots. You need JavaScript enabled to view it.
PHOENIX--(BUSINESS WIRE)--Arizona Public Service Co. (APS) announced today that Adam Heflin has been named Executive Vice President and Chief Nuclear Officer (CNO) at the Palo Verde Generating Station, effective June 6. Heflin succeeds Maria Lacal, who recently announced her intent to retire after a distinguished 41-year career in the commercial nuclear industry.
Heflin previously served as Chief Executive Officer (CEO) and CNO of the Wolf Creek Nuclear Operating Corporation in Kansas until his retirement in 2019. Prior to that, he was the CNO at Ameren’s Callaway Energy Center in Missouri. Heflin worked with Palo Verde this year as part of its Offsite Safety Review Committee and has served on the board of the STARS Alliance, a collaborative alliance of four western U.S. utilities who operate nuclear generating stations.
“Adam was selected to be our next CNO in large part because of his demonstrated ability to achieve and maintain excellent operational and financial performance at nuclear plants similar to Palo Verde,” said APS Chairman and CEO Jeff Guldner. “I’m confident that he will continue the tradition of excellence we’ve re-established at Palo Verde, and I’m excited for him to bring his energy and expertise to our leadership team.”
Heflin began his nuclear career in the United States Navy, followed by positions at Entergy’s Arkansas Nuclear One. Heflin holds a B.S. in Mechanical and General Engineering from Arkansas Tech University and has previously served on the boards of both the Nuclear Energy Institute and the Institute for Nuclear Power Operations.
Lacal will remain with APS through August to complete a thorough transition with Heflin and fulfill several industry commitments. Until then, she will serve as Executive Vice President and Advisor to the CEO.
APS serves more than 1.3 million homes and businesses in 11 of Arizona’s 15 counties, and is a leader in delivering affordable, clean and reliable energy in the Southwest. The company is committed to serving customers with 100% clean power by 2050. As owner and operator of Palo Verde Generating Station, the nation’s largest producer of carbon-free electricity, and with one of the country’s most substantial renewable energy portfolios, APS’s current energy mix is 50% clean. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).
Media Contact: Mike Philipsen (480) 647-7762
Analyst Contact: Amanda Ho (602) 250-3334
Website: aps.com/newsroom
DUBLIN--(BUSINESS WIRE)--The "Europe EV Charging Stations Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph, Connector, Wireless), Component, Mounting Type, Vehicle Type, End User, and Geography-Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
This research report provides an in-depth analysis of the European electric vehicle charging stations market and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029.
The European electric vehicle charging stations market is expected to reach $61.73 billion by 2029, at a CAGR of 34.7% during the forecast period, 2022-2029. By volume, this market is expected to reach 6,458.8 thousand units by 2029 at a CAGR of 37.8% during the forecast period.
The growth of this market is mainly driven by increasing government initiatives to drive the adoption of EVs and develop the associated infrastructure, the rising demand for EV fast-charging infrastructure, and the increasing prevalence of range anxiety among EV users. France, Germany, the Netherlands, Norway, and the U.K. are five front-runner countries in Europe in terms of EV adoption and the development of EV charging infrastructure.
The study offers a comprehensive analysis of the European electric vehicle charging stations market by charging type (Level 1, Level 2, DCFC), connection type (pantograph, connector, wireless), component (hardware, software, services), mounting type (wall, pedestal, ceiling), vehicle type (passenger cars, LCVs, two-wheelers & scooters, HCVs), end user (commercial EV charging stations, residential EV charging stations), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Geographically, Germany is estimated to account for the largest share of the European electric vehicle charging stations market in 2022. However, Sweden is expected to register the highest CAGR during the forecast period. Sweden is one of the leading European countries to ban diesel-powered vehicles and adopt electric mobility. The Swedish government has started investing in EV charging stations across the country.
The Swedish Transport Administration is investing to support the expansion of public EV fast-charging stations. For instance, in June 2020, the Swedish Transport Administration announced state support to expand public charging stations on major roads for the fast charging of electric vehicles.
Denmark is expected to record the second-highest CAGR during the forecast period. Increasing government initiatives to reduce carbon dioxide emissions and low taxation on the purchase of electric vehicles are key factors driving the EV charging stations market in the country. Denmark has installed charging spots in its 30 biggest cities.
The Danish government has pledged to roll out 775,000 electric/hybrid cars on its roads by 2030 to reduce greenhouse gas emissions by 70%. Also, Copenhagen is expected to become a carbon-neutral city by 2025. The growing use of electric vehicles has boosted the demand for EV charging stations across the country. Currently, Denmark also offers a tax exemption on the procurement and installation of commercial charging stations.
Key questions answered in the report:
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/l07y1o
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Global system integrator Shape Process Automation and robotics technology company Mujin to showcase mixed-case depalletizing and palletizing solution in booth #805 at Automate June 6-9 in Detroit
AUBURN HILLS, Mich. & ATLANTA--(BUSINESS WIRE)--#ACRs--Robotic system integrator and process cutting solutions provider Shape Process Automation (SPA) and robotics technology company Mujin today announced a collaboration to enhance SPA’s robotic automation solutions with Mujin’s intelligent robotics platform. At Automate 2022 Show and Conference June 6-9 in Detroit, SPA and Mujin will showcase a Mujin-powered mixed-case depalletizing and palletizing solution.
The SPA/Mujin collaboration is designed to more quickly bring difficult-to-automate tasks such as mixed-case depalletizing and palletizing to a greater number of warehouses and manufacturing facilities throughout North America. SPA is an integrator for the top robotic manufacturers, including Fanuc, one of several robot arms compatible with Mujin’s flagship product, the MujinController. To facilitate these applications, the MujinController uses machine intelligence, a type of AI that automatically manages potential downtime scenarios through perception, autonomous decision making, and real-time motion planning without the need for human intervention.
“The joining of Shape Process Automation’s and Mujin’s advanced technology and system integration capabilities will allow us to enhance our customers manufacturing operations, as well as discover new opportunities within Industrial Automation,” said Nino LaDuca, president, Shape Process Automation Group. “This partnership came at a perfect time since we are celebrating 50 years of providing intelligent automation solutions worldwide.”
Ross Diankov, co-founder of Mujin, expects immediate benefits for joint customers struggling to automate the labor-intensive depalletizing and palletizing applications, among others. “SPA’s experience and reputation in deploying robotics automation solutions make them an ideal fit as Mujin seeks to empower the North American logistics market with Mujin's revolutionary machine intelligence,” Diankov said. “Together, we can accelerate a new wave of robotics technology in the U.S. and help to advance the vision of a completely autonomous warehouse.”
In addition to the Mujin-powered depalletizing and palletizing application, Shape Process Automation will also feature its innovative robotic laser cutting solution showcasing how its Newton technology can increase part throughput and dimensional quality compared to traditional CNC cutting processes, specifically when dealing with EV lightweight materials. This demo will specifically focus on how battery trays can be manufactured and assembled.
Visit Shape and Mujin in booth 805 in Automate’s Integrated Solutions Center, dedicated to automation, robotics, and machine integrators.
Mujn’s Brandon Coats to Discuss Intelligent Robotics for the Modern Warehouse
At Automate, Mujin director of system integration, Brandon Coats, will discuss how logistics facilities can leverage intelligent robotics—through the new approach to robotics called Machine Intelligence —to optimize deploy more robotic systems into production and into new, more advanced applications. Coats’ conference presentation is at 3:30 p.m. on June 7.
About Shape Process Automation
Shape Process Automation provides industrial automation solutions that address efficiency, productivity, and safety challenges within manufacturing operations. As a globally recognized integrator of robotic systems, Shape Process Automation offers solutions for material handling and assembly applications as well as advanced materials cutting with robotic laser, router, knife and waterjet processes. Shape Process Automation is a Shape Technologies Group Company. For more information, visit https://shapeprocessautomation.com/
About Mujin
Mujin, a robotics technology company, develops “machine intelligent” robot controllers that are designed as a common platform for industrial and collaborative robots specializing in logistics and other pick-and-place applications. Launched in Tokyo in 2011 with offices in China and operating in the United States at Mujin Corp., Mujin works with many of the world’s largest companies to make material handling applications easier to deploy, more accurate and less costly. The company’s flagship product, the MujinController, uses machine intelligence technology to give robotic systems real-time decision-making ability that enables truly autonomous, reliable and production-capable robot applications. For more information, visit http://www.mujin-corp.com
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Watch a video on the MujinController solution here.
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Company details:
Josh Cloer
Mujin Corp.
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Lauren Ciampichini
Shape Process Automation
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Kelly Wanlass
HCI Marketing and Communications, Inc.
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ROSH HAAYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, announced today that its ordinary shares have been approved for listing on the Nasdaq Capital Market (“Nasdaq”). Brenmiller’s shares will begin trading on Nasdaq on Wednesday, May 25, 2022, under the ticker symbol “BNRG.” The Company will maintain the listing of its ordinary shares on the Tel Aviv Stock Exchange under the symbol “BNRG.”
The listing of the Company’s shares on the Nasdaq constitutes compliance with the closing requirements of a securities purchase agreement with certain private investors as previously announced on November 2, 2021. On May 24, 2022, the Company closed the second tranche of the investment by such investors and, as a result, the balance of $7.5 million of the $15 million private placement has been paid to the Company by the investors against the issuance of the Company’s securities.
“Brenmiller Energy’s listing on Nasdaq is a major milestone in the Company’s history and represents another step forward in our Company’s effort to deliver utilities and industrial companies the thermal energy storage solutions they need to realize their electrification and decarbonization goals,” said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. “Our new listing on Nasdaq will help us better educate the global investment community about our innovative thermal storage decarbonization technology, while at the same time making it easier for us to access any capital we may need to help us continue to grow our company.”
Patented Technology Enables Carbon-Free Thermal Energy Storage
Brenmiller’s patented technology stores heat at high temperatures using crushed rocks and provides clean and sustainable thermal energy for utilities and industrial plants.
This innovative technology combines thermal storage, heat exchange, and steam generation together in a sustainable and modular solution. With this solution utilities and industrial companies can cost-effectively use renewable energy resources (including solar, wind, and biomass) and/or waste heat – rather than fossil fuels – to generate steam, hot water, and hot air for a wide array of industrial processes or power generation.
Brenmiller is currently working to deploy its TES solution with some of the largest industrial and utility customers globally, including Philip Morris International, Enel (Italy), Fortlev (Brazil), and the Israeli Defense Forces.
The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form F-1 (File No. 333-264398) relating to the ordinary shares issued in a private placement with certain investors. Additionally, as of the date Brenmiller Energy’s shares begin trading on Nasdaq (i.e., May 25, 2022), the Company will start reporting in accordance with the provisions of Chapter E3 of the Israeli Securities Law, 5728-1968, and the regulations enacted thereunder (the “Securities Law”), i.e., based on a reporting format of U.S. securities law, pursuant to the provisions of Sections 35(32) of the Securities Law.
Sullivan & Worcester LLP acted as Brenmiller Energy’s U.S. legal counsel and Shibolet & Co. acted as Brenmiller Energy’s Israeli legal counsel in connection with the Nasdaq listing.
About Brenmiller Energy
Brenmiller Energy’s innovative thermal energy storage solutions are accelerating the electrification and decarbonization of the global economy. Founded in 2012 by Avi Brenmiller, former CEO of Siemens CSP and Solel, and a team of other experts in the field of renewable energy, its patented technology heats crushed rocks to very high temperatures, enabling utility and industrial customers to cost-effectively store energy and then convert this energy into steam, hot water or hot air for a variety of applications. The Company has raised more than $90 million and is traded on the Tel-Aviv Stock Exchange and will begin trading on Nasdaq on May 25, 2022. For more information visit https://bren-energy.com/ and follow us on LinkedIn https://www.linkedin.com/company/brenmiller-energy/mycompany/
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the impact of the Nasdaq listing on its profile, growth, visibility and liquidity and the date for its ordinary shares to begin trading on Nasdaq. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Registration Statement on Form F-1 filed with the SEC on April 21, 2022, and any subsequent amendments thereto. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
U.S. Investors:
Chase Jacobson, Vallum Advisors
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+1 980-265-2597
Media:
Isaac Steinmetz
Antenna for Brenmiller Energy
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HOUSTON--(BUSINESS WIRE)--Air Liquide officially opened its largest liquid hydrogen production and logistics infrastructure facility in North Las Vegas, Nevada. The facility aims to supply the growing needs for hydrogen mobility, but will also allow to provide hydrogen to a wide array of industries while the mobility market continues to mature.
The facility, and the associated logistics infrastructure, marks a $250 million investment by Air Liquide in the United States hydrogen market and will position Nevada as a leader in hydrogen energy production. Air Liquide’s investment created jobs for 700 contractors and 25 full-time jobs with the plant at full capacity. With this facility, Air Liquide also developed the infrastructure necessary to attract other companies to move into the area, creating additional jobs and new revenue for the city of North Las Vegas and the state of Nevada.
The North Las Vegas facility will produce 30 tonnes of liquid hydrogen per day which will be utilized by various customers, notably by those in the growing clean mobility market on the West Coast, especially California. The facility will be powered by fully renewable electricity. The facility can also use renewable natural gas to meet the California Low Carbon Fuel Standard (LCFS) when supplying the California mobility market1. In this context, the facility can provide enough renewable hydrogen for over 40,000 fuel cell vehicles in California. This will significantly improve the hydrogen supply for mobility, a critical enabler for market growth. While the clean mobility market continues to mature, the plant configuration will also allow for the sale of hydrogen to a wide array of sectors with a range of renewable and low-carbon options for customers.
Air Liquide executives and employees were joined by local, state and federal leaders for the event including Nevada Governor Steve Sisolak, Congressman Steven Horsford (NV-4), North Las Vegas Mayor John J. Lee, with a special recorded welcome message from U.S. Secretary of Energy Jennifer Granholm and U.S. Senator Catherine Cortez Masto (D-NV), who visited the facility earlier in the month.
In alignment with Air Liquide’s Sustainability Objectives, the North Las Vegas liquid hydrogen production facility aims to accelerate hydrogen development and contribute to the Group’s goal of at least tripling hydrogen sales in order to reach 6 billion euros, or nearly $6.5 billion USD, by 2035.
Michael Graff, Chairman & CEO of American Air Liquide Holdings, Inc. and Executive Vice President, Air Liquide Group said: “Air Liquide has supported the clean mobility market on the west coast since its infancy and the North Las Vegas facility is a milestone in our decades-long leadership of the U.S. hydrogen market. This facility is an illustration of our commitment, and ability, to usher sustainable markets into the future, while creating jobs and fostering economic growth in the present. By providing a reliable supply of hydrogen to California’s mobility market and the region’s industrial customers, we are making a significant investment in the transition towards a more sustainable future, one with hydrogen at its core.”
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1 California mobility market and the California Low Carbon Fuel Standard (LCFS) - The LCFS is a California state regulation designed to encourage the use of cleaner low-carbon transportation fuels in California, encourage the production of those fuels, and therefore, reduce GHG emissions and decrease petroleum dependence in the transportation sector.
Air Liquide’s commitment to hydrogen In full support of the 2015 Paris agreement, the Air Liquide commitments address the urgency of climate change and energy transition, targeting carbon neutrality by 2050. As a pioneer in hydrogen, the Group is convinced that hydrogen is a cornerstone of the energy transition. In the past 50 years, the Group has developed unique expertise enabling it to master the entire supply chain, from production and storage to distribution, contributing to the widespread use of hydrogen as a clean energy carrier for a wide range of applications such as industrial usages and clean mobility. Air Liquide is committed to reaching several goals, investing approximately 8 billion Euro in the low-carbon hydrogen full value chain by 2035, and a total of 3 GW electrolysis capacity by 2030. |
Air Liquide in the U.S. Air Liquide employs more than 20,000 people in the U.S. in more than 1,300 locations and plant facilities including a world-class R&D center. The company offers industrial and medical gases, technologies and related services to a wide range of customers in energy, petrochemical, industrial, electronics and healthcare markets. www.airliquide.com/USA
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A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.
www.airliquide.com
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DUBLIN--(BUSINESS WIRE)--The "Automotive TIC Market Research Report by Services (Certification Service, Inspection Service, and Testing Service), Source, 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 Automotive TIC Market size was estimated at USD 16.76 billion in 2021, USD 17.82 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.45% to reach USD 24.40 billion by 2027.
In this report, the years 2019 and 2020 are considered historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered the forecast period.
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 Automotive TIC 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.
Competitive Scenario:
The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate.
Company Usability Profiles:
Key Topics Covered:
1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Growing demand and production of automobiles
5.1.1.2. Strict regulatory standards from the governments on automotive
5.1.1.3. Increasing vehicle recall due to component failure
5.1.1.4. Consumer awareness on product quality and safety
5.1.2. Restraints
5.1.2.1. Shortage of trained professionals and infrastructure
5.1.3. Opportunities
5.1.3.1. Increasing penetration of electric vehicles globally
5.1.3.2. Adoption of advanced technologies and connected devices in vehicles
5.1.4. Challenges
5.1.4.1. Fluctuating regulations across different countries
5.2. Cumulative Impact of COVID-19
5.3. Cumulative Impact of 2022 Russia Ukraine Conflict
6. Automotive TIC Market, by Services
6.1. Introduction
6.2. Certification Service
6.3. Inspection Service
6.4. Testing Service
7. Automotive TIC Market, by Source
7.1. Introduction
7.2. In-House
7.3. Outsource
8. Automotive TIC Market, by Application
8.1. Introduction
8.2. Electric Vehicles, Hybrid Electric Vehicles, and Battery System
8.3. Electrical System & Component
8.4. Fuel, Fluid, and Lubricant
8.5. Homologation Testing
8.6. Interior & Exterior Material and Component
8.7. Telematic
8.8. Vehicle Inspection Service
9. Americas Automotive TIC Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States
10. Asia-Pacific Automotive TIC Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
11. Europe, Middle East & Africa Automotive TIC Market
11.1. Introduction
11.2. France
11.3. Germany
11.4. Italy
11.5. Netherlands
11.6. Qatar
11.7. Russia
11.8. Saudi Arabia
11.9. South Africa
11.10. Spain
11.11. United Arab Emirates
11.12. United Kingdom
12. Competitive Landscape
12.1. FPNV Positioning Matrix
12.1.1. Quadrants
12.1.2. Business Strategy
12.1.3. Product Satisfaction
12.2. Market Ranking Analysis
12.3. Market Share Analysis, By Key Player
12.4. Competitive Scenario
12.4.1. Merger & Acquisition
12.4.2. Agreement, Collaboration, & Partnership
12.4.3. New Product Launch & Enhancement
12.4.4. Investment & Funding
12.4.5. Award, Recognition, & Expansion
13. Company Usability Profiles
For more information about this report visit https://www.researchandmarkets.com/r/aezo2s
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Neara is expanding globally, with a strategic focus on the U.S., to help energy providers manage the growing impact of climate change and extreme weather, improve network safety and reliability, and accelerate the integration of clean energy
SYDNEY, Australia--(BUSINESS WIRE)--Neara, a provider of cloud-based digital twin solutions for global utilities, today announced it secured USD14M (AUD20M) in Series B funding led by Skip Capital, and joined by Square Peg Capital (who led Neara’s Series A raise) and OIF. The Australian-based SaaS platform will use this latest funding to expand its global footprint (with a particular focus on further growing its U.S. presence), and broaden its platform functionality, including into new industries. Following its USD5M (AUD7.25M) Series A secured in 2021, Neara’s Series B brings its investment total to USD19M (AUD27.25M) to date.
Neara solves the greatest issues faced by utilities, including an increasingly unstable climate, extreme weather events, and commitments to scale up renewable energy generation. Neara creates digital models of entire infrastructure networks which enable utilities to prepare for and better withstand weather emergencies. It also enables the complex engineering analysis required to optimize existing networks and integrate renewables far more efficiently and effectively.
“The critical infrastructure we all rely on daily for fundamental needs like electricity is under pressure from annual weather emergencies like floods and fires. The utility industry is spending billions physically assessing and maintaining their aging assets, and simultaneously trying to resolve how to integrate renewable assets. Our platform enables a holistic approach to addressing these key challenges while enabling leaps forward in cost reduction, safety, and reliability for our customers and the communities they serve,” said Jack Curtis, Chief Commercial Officer at Neara.
Founded in 2016 by ex-Google software engineer Daniel Danilatos, Neara uses artificial intelligence and machine learning to create a dynamic ‘digital twin’ - a virtual model of an infrastructure network. Neara’s software can be used to design or redesign parts of the network, analyze potential risks, and manage physical assets with a sophisticated physics and engineering engine.
To date, Neara has modeled ~390K total network miles, ~510K total network square miles (larger than the area of California and Texas combined), and ~2.4M total number of assets, covering distribution, sub-transmission, and transmission structures.
Since its Series A funding, Neara has been working with a number of U.S. utilities, helping to pilot a suite of digital solutions. With its Series B, it will accelerate its growth throughout the country to assist more network operators impacted by the ever growing electricity disruptions caused by weather and aging infrastructure. The company plans to double its U.S. staff in the next six months.
“We are delighted to lead this round and really excited about Neara’s global potential,” said Kim Jackson, Head of Skip Capital. “This is our third investment in the company and they continue to impress us with their product, focus and vision. They have already digitally modeled more than half of Australia’s electricity network, helping to transform the way utilities operate their infrastructure and respond to weather crises such as wildfires and floods, which have now become regular events. I am excited about their expansion globally, especially with utilities in the U.S. and Europe.”
James Tynan, Neara’s lead investor at Square Peg Capital, added, “We’re thrilled to be backing Dan and the team at Neara as they leverage the power of software to help utilities transform. It’s obvious to see that solutions like Neara are required to protect communities from the effects of climate change while also helping utilities to design, analyze and manage the changes to their network that are necessary to hit climate targets.”
“Partnering with Neara has allowed us to evolve our digital asset management capability so that we are more agile in our decision-making,” said Luke Jenner, Chief Operating Officer at Essential Energy. “In a changing climate where we’re already seeing the effects of unprecedented natural disasters impacting our customers, our team can now use digital twin modeling to assess scenarios across the network and determine how resilient our network assets are under various environmental conditions and stresses. This allows us to forecast network reliability and balance our customer’s expectations of performance with the required investment to achieve network resilience.”
For more information about Neara, visit www.neara.com or email This email address is being protected from spambots. You need JavaScript enabled to view it..
About Neara
Neara is a physics-based platform that builds 3D interactive models of critical infrastructure networks and assets, providing the ability to run real-world scenarios, assess current and future risk, and prioritize maintenance and disaster response. Neara is focused on connecting industry knowledge and data with our digital twin technology to solve the complex problems facing infrastructure companies globally. We share our customers’ goals for safety and reliability, and are committed to their success by collaborating with them to realize sustainable value through our transformative solutions. Neara has offices in Australia, North America, and Europe. For more information visit www.neara.com.
Sylvester Palacios
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210-951-3313
10-year diverse supplier spend reaches $6.4 billion
CHICAGO--(BUSINESS WIRE)--ComEd spent $893 million with businesses owned by women, people of color and veterans in 2021, or 42% of its total supply chain spend, bringing its diverse supplier spend since 2012 to $6.4 billion. Maintaining its focus on investing locally, ComEd spent $641 million, or more than 71% of its total diverse spend last year, with Illinois-based suppliers, as detailed in the company’s annual report to the Illinois Commerce Commission, which regulates the state’s public utilities.
“Hundreds of diverse suppliers play critical roles on our power grid and throughout our company, and the transition to clean energy will create even more opportunities for them to grow and make a positive impact within their communities,” said Gil Quiniones, CEO, ComEd. “Investing in businesses owned by people of color, women and veterans is one of our greatest opportunities to build equity throughout our service territory.”
ComEd partners with 662 diversity-certified suppliers, including 153 added last year, and they work throughout the company in utility construction, engineering, and materials, among others. A growing sector for diverse suppliers is energy efficiency, which is expected to accelerate as a result of the Climate and Equitable Jobs Act, which increases funding for expanded offerings with an emphasis on income eligible customers. To take full advantage of the opportunity, ComEd is partnering with diverse supplier Walker-Miller Energy Services, an energy efficiency specialist, led by CEO Carla Walker-Miller. It will focus on supplier and customer engagement.
“Because building energy efficiency is key to helping fight climate change and facilitating the necessary decarbonization of our country, the growth opportunities in energy efficiency are endless,” said Walker-Miller, who has 30 years of energy industry experience. “ComEd’s energy efficiency team is empowered and expected to identify, engage and develop diverse suppliers, and it has empowered us to do the same,” said Walker-Miller. “We are also helping ComEd reach economically distressed communities to reduce customers’ energy and water consumption.”
ComEd’s report profiles Milhouse, Inc., a Chicago-based African American-owned engineering and construction company led by CEO Wilbur Milhouse. It plays a key role in ComEd’s Voltage Optimization program, which enables ComEd to deliver power with enhanced precision, helping customers to reduce their energy consumption by up to 2 percent annually.
The report also highlights ComEd’s work in the growing data center sector where it’s creating opportunities for diversity-certified suppliers, such as Environmental Design International, a woman-owned company specializing in environmental consulting and civil engineering; McKissack & McKissack, the oldest minority-owned architecture and construction company in the United States; and Meade Electric, a leader in diversity advocacy with hundreds of active diversity-certified supplier relationships.
Illinois utility companies’ diverse supplier spend contributed $11.8 billion to the Illinois GDP from 2017-2020, with $4 billion in purchases from Illinois-based diverse businesses, according to the
Illinois Utilities Business Diversity Council (IUBDC), which was formed in 2015 to help utilities establish and share best practices for diverse supplier participation and development. Members include Ameren Illinois, Aqua, ComEd, Illinois American Water, Nicor Gas, North Shore Gas, and Peoples Gas.
ComEd’s 2021 Supplier Diversity report: https://www.comed.com/SiteCollectionDocuments/AboutUs/338828.pdf
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
Evergy publishes three key stakeholder reports:
KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy (NYSE: EVRG) published three reports, including its 2021 Sustainability Report, that provide details on the company’s achievements and progress toward environmental, social and governance (ESG) initiatives. Evergy’s continued transition to more sustainable energy sources, being a great place to work for its employees, and commitment to the communities it serves are central to its ESG strategy.
“Since forming Evergy in 2018, we've enhanced our ESG practices and disclosures. Last year, we introduced our 2045 net-zero carbon target, with an interim goal of 70 percent reduction by 2030, building on our track record and trajectory of historical emissions reductions.” said David Campbell, Evergy’s president and chief executive officer. “Beyond environmental policy, we've also taken a comprehensive approach to reviewing and updating our social and governance policies and related disclosures including a corporate human rights policy, expanded shareholder rights and a formalized water policy.”
The updated reports provide stakeholders with valuable ESG information on how Evergy is providing safe, reliable, affordable and sustainable energy to customers while employing a diverse workforce, being a great place to work for employees and supporting the communities it serves. Highlights include:
“Our Board of Directors has linked executive compensation to the successful execution of both environmental and diversity, equity, and inclusion aspects of our business,” said Heather Humphrey, senior vice president, general counsel, and corporate secretary. “We're proud of the advancements we've made to further demonstrate our commitment to leading ESG practices. We are focused on maintaining this momentum as we execute our plan and deliver sustainable results in the years ahead.”
Reports, including the reports newly published or updated last week, available on Evergy’s investor relations site make ESG related material easily accessible:
About Evergy
Evergy, Inc. (NYSE: EVRG), serves 1.6 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.
Cautionary Statements Regarding Certain Forward-Looking Information
Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as “anticipates,” “believes,” “expects,” “estimates,” “forecasts,” “should,” “could,” “may,” “seeks,” “intends,” “proposed,” “projects,” “planned,” “target,” “outlook,” “remain confident,” “goal,” “will” or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively, the Evergy Companies) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; changes in business strategy or operations; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation, securitization and restructuring of the electric utility industry; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; the impact of climate change, including increased frequency and severity of significant weather events and the extent to which counterparties are willing to do business with, finance the operations of or purchase energy from the Evergy Companies due to the fact that the Evergy Companies operate coal-fired generation; prices and availability of electricity in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of the Coronavirus (COVID-19) pandemic on, among other things, sales, results of operations, financial condition, liquidity and cash flows, and also on operational issues, such as supply chain issues and the availability and ability of the Evergy Companies’ employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations (RTO) and independent system operators; financial market conditions and performance, including changes in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; the transition to a replacement for the London Interbank Offered Rate (LIBOR) benchmark interest rate; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of physical and cybersecurity breaches, criminal activity, terrorist attacks, acts of war and other disruptions to the Evergy Companies’ facilities or information technology infrastructure or the facilities and infrastructure of third-party service providers on which the Evergy Companies rely; ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays and cost increases of generation, transmission, distribution or other projects; the Evergy Companies’ ability to manage their transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to the Evergy Companies’ ability to attract and retain qualified personnel, maintain satisfactory relationships with their labor unions and manage costs of, or changes in, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence Evergy’s strategic plan, financial results or operations; the possibility that strategic initiatives, including mergers, acquisitions and divestitures, and long-term financial plans, may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, regulators or suppliers; and other risks and uncertainties.
This list of factors is not all-inclusive because it is not possible to predict all factors. You should also carefully consider the information contained in our other filings with the Securities and Exchange Commission (SEC). Additional risks and uncertainties are discussed in the Annual Report on Form 10-K for the year ended December 31, 2021 filed by the Evergy Companies with the SEC, and from time to time in current reports on Form 8-K and quarterly reports on Form 10-Q filed by the Evergy Companies with the SEC. Each forward-looking statement speaks only as of the date of the particular statement. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law
Media Contact:
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BOLOGNA, Italy--(BUSINESS WIRE)--#Autopromotec--EV fast-charging solutions provider Kempower will showcase its state-of-the-art fast-charging technology for the first time in Italy at Autopromotec in Bologna on May 25-28, 2022. Autopromotec is the most specialized international exhibition of automotive equipment and aftermarket products.
Kempower’s e-mobility and EV charging specialists will be present to showcase the company’s charging technology to event visitors. At Kempower stand, visitors can see and test the Kempower S- and C-Series fast-charging system and the Kempower T-Series movable DC fast charger. Meet the Kempower team in Hall 18, stand B 6.
“We are excited to be showcasing our leading EV fast-charging technology at one of Europe’s most prominent exhibitions of automotive equipment and aftermarket. We will have a great opportunity to interact with customers in Italy and across Europe and introduce our unique solutions to the region. Thanks to the country’s strong industrial automotive background, the Italian EV charging market has the potential to grow very rapidly in the future, and we aim to be part of this journey,” says Tomi Ristimäki, CEO of Kempower.
Dynamic and scalable fast-charging solutions with first-class user-experience
Kempower provides easily scalable, modular, dynamic, user-friendly, and reliable fast chargers for EVs for many different needs. Our chargers are modular, and therefore, charging hubs can easily be scaled up and additional charging power can easily be added as demand grows.
The Kempower product portfolio includes the following solutions: Kempower S-Series charging satellites that enable simultaneous and frequent fast charging for several EVs, Kempower C-Series charging power unit which is a modular and scalable power unit providing fast-charging capacity, Kempower T-Series movable DC chargers which are weatherproof and suitable for both outdoor and indoor use, and Kempower C-Station which is a combined charging power unit and charging satellite post as a single unit.
Kempower ChargEye™ is a comprehensive, easy-to-use, cloud-based charging management system for charge point operators and retailers, bus and truck operators, and off-highway vehicle fleets. When Kempower chargers are connected to the ChargEye system, charging network operators can easily monitor, manage, and diagnose the day-to-day operations of both the chargers and vehicles. ChargEye ensures that a commercial vehicle fleet is always ready for duty when needed while optimizing energy costs and managing battery health. The software can also be directly integrated into other IT systems to provide seamless operations and reporting.
About Kempower:
Kempower designs and manufactures DC fast charging solutions for electric vehicles and machines. We’re a team of electric vehicle enthusiasts with a deep understanding of the charging market and a hands-on mentality. Our product development and production are rooted in Finland, with a majority of our materials and components sourced locally. We focus on all areas of transportation, from personal cars and commercial vehicles to mining equipment, boats and motorsports. With Kemppi Group’s 70 years’ experience in perfecting DC power supplies, we set the bar high in engineering and user-experience design. Kempower is listed in the Nasdaq First North Growth Market Finland. www.kempower.com
Follow Kempower on LinkedIn!
Further information:
Tomi Ristimäki, CEO, Kempower
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Tel. +358 29 0021900
Kempower Italy:
Marco Bettega, Senior Sales Manager, Kempower
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Tel. +358 29 0021900
Fabio Schiavino, Sales Manager, Kempower
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Tel. +39 333 387 1519
Kempower, media relations:
Paula Savonen, Director, Communications, Kempower
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HOUSTON & DENVER--(BUSINESS WIRE)--Rockcliff Energy (Rockcliff), a Quantum Energy Partners-backed exploration and production company operating in the East Texas Haynesville Shale play, has made the commitment to undergo Project Canary’s TrustWell™ environmental certification on all of the natural gas produced from Rockcliff completed Haynesville Shale wells. Rockcliff’s Haynesville Shale wells represent more than 95 percent of its total production. Thus far, 143 wells have been assessed and certified by TrustWell™, and the current remaining Rockcliff Haynesville Shale wells will be assessed by the end of June 2022.
Rockcliff initiated the TrustWell™ assessment and certification process with SaaS-based ESG data analytics firm Project Canary in late 2021, measuring the company’s operations against the highest environmental and social standards related to air, land, water, and community practices. By the end of June 2022, nearly all Rockcliff’s natural gas production will be independently certified as responsibly sourced gas (RSG), a distinct classification of natural gas produced under the highest environmental and operational standards as assessed by Project Canary. The company has also deployed 171 Canary X advanced continuous emissions monitors at well sites to precisely detect, monitor, and mitigate methane emissions in real-time.
Strategically located along the Gulf Coast, Rockcliff will soon deliver approximately 1.3 billion cubic feet (bcf) per day of independently certified RSG to domestic and international gas buyers.
Localized, actual versus estimated emissions reporting, and pad-level certification standards are quickly becoming industry best practices. Domestic utility buyers and LNG operators are recognizing the value of RSG validated with high-fidelity data. RSG is a major market opportunity for upstream, midstream, and downstream companies as it has gained further prominence and higher desirability within the market. Given geopolitical circumstances, and as the EU looks for strategic LNG supply sources, advanced environmental assessments, and pad-level emissions monitoring to independently certify RSG at the highest standards is a significant differentiator. The market is demanding responsible, low emission production in addition to low emission gathering, processing, and transmission. The RSG market has arrived, and site-level monitoring will continue to build confidence in emissions disclosures.
“Our independent analysis confirms Rockcliff’s commitment to ESG leadership,” Project Canary co-founder and CEO Chris Romer said. “Buyers consistently seek independent, verified emissions data, and our well-by-well environmental assessments accurately monitor and quantify environmental and operations performance.”
“Our sector has embarked on the ESG 2.0 era,” Alan Smith, CEO of Rockcliff Energy, said. “As new regulations and reporting standards demand more credible disclosures, Rockcliff desires to focus on our strategic direction as well as near-term action. Our reliance on asset-level independent RSG Certification from TrustWell™ positions us at the forefront of what’s next.”
ABOUT ROCKCLIFF ENERGY
Rockcliff is a top-tier energy company helping to fuel the U.S. and global economy with clean-burning natural gas. A leading Haynesville Shale producer, Rockcliff owns more than 270,000 net acres in East Texas and produces approximately 1.4 bcf gross of natural gas per day. Given our strategic location to the Gulf Coast markets, large and highly economic Haynesville core acreage position, and industry-leading operating margins, Rockcliff is well-positioned as a leader in the natural gas industry. And importantly, we operate in an environmentally, regulatory, and socially responsible manner. Learn more at www.rockcliffenergy.com.
ABOUT PROJECT CANARY
Project Canary is a SaaS-based data analytics company focused on accurate corporate climate ESG data for emission-intensive industrial companies. We are the leaders in holistic environmental assessments (air, water, land, and community). Project Canary scores responsible operations, delivering independent emission profiles via high-fidelity continuous monitoring technology to provide actionable environmental performance data. Our sensor portfolio includes high-fidelity spectroscopy-based methane detection and emissions quantification for the oil and gas sectors, plus Aeris Technologies’ laser-based gas analyzers covering other emissions, including ethane, nitrous oxide, formaldehyde, ethylene oxide, benzene, and more. Formed as a Public Benefit Corporation, Project Canary’s Denver-based team of scientists, engineers, and seasoned industry operators identify and quantify areas to reduce emissions. www.projectcanary.com
Rockcliff Energy
Ted Wurfel
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Project Canary
Rachael Shayne
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LONDON--(BUSINESS WIRE)--Rio Tinto and bp have agreed to work together on a one-year biofuel trial to help reduce carbon emissions from Rio Tinto’s marine fleet.
Under the trial, bp is supplying Rio Tinto with marine biofuel for approximately 12 months. The fuel will be trialled on Rio Tinto’s RTM Tasman vessel on a mix of Transatlantic and Atlantic-Pacific routes, in one of the longest-duration marine biofuel trials to date. The results of the trial will help Rio Tinto study ways to reduce its carbon emissions from its marine fleet and inform its future biofuel strategy.
Rio Tinto Head of Commercial Operations, Laure Baratgin said, “Sustainable biofuels have the potential to be an important transition fuel on the way to net-zero marine emissions and we are pleased to be working with bp to carry out this long-term trial.
“A longer-duration trial will provide important information on the potential role and wide scale use of biofuels, and aligns with our goals to reduce marine emissions across our value chain and support efforts to decarbonise the maritime industry.
“Our ambition is to reach net-zero emissions from shipping of our products to customers by 2050 and to introduce net-zero carbon vessels into our portfolio by 2030. We know that we won’t meet these ambitions alone and along the way will need to work with capable and experienced companies such as bp.”
Sven Boss-Walker, senior vice president refining & products trading, bp said, “Sustainable biofuels are important to help decarbonise the shipping industry in the near- and mid-term as we transition towards longer term net zero solutions. We’re proud to be working with Rio Tinto to support their work to decarbonise. These trials are part of our ongoing efforts to help accelerate the shipping industry’s energy transition.”
The extended trial agreement follows a successful journey on the RTM Tasman after it refuelled with biofuel in Rotterdam in March 2022 for the first time and then picked up its first load of the trial at the Iron Ore Company of Canada’s Sept-Îles port in Quebec in April. All biofuel refuelling during the trial will be at Rotterdam.
The trial is using a bp-manufactured B30 biofuel blend composed of 30% fatty acid methyl esters (FAME) blended with very low sulphur fuel oil (VLSFO). This B30 biofuel blend can reduce lifecycle carbon dioxide emissions by up to 26% compared to standard marine fuel oil.
FAME is a renewable alternative fuel (biodiesel) largely produced from recycled cooking oils and renewable oil sources. It has physical properties similar to conventional diesel, and is a ‘drop in fuel’, requiring no modifications to the engine or vessel. The origination and production of the feedstocks used to produce the FAME is certified for its sustainability to internationally recognized standards.
Working with bp and the ship managers Anglo Eastern, the trial will analyse a series of engine and fuel performance factors, including engine efficiency and fuel consumption, corrosion and degradation, microbial growth, temperature impact, fuel switching impacts and fuel stability.
Rio Tinto is also accelerating the delivery of its climate commitments on shipping. It has delivered a 30% intensity reduction on its owned and time-chartered fleet from a 2008 baseline, and is on track to meet the International Maritime Organisation’s 2030 targets of a 40% reduction in emissions five years early, by 2025.
bp is working with companies in key industrial sectors such as shipping, that have significant carbon emissions to manage, supporting their work to decarbonize.
About bp
bp’s purpose is to reimagine energy for people and our planet. It has set out an ambition to be a net zero company by 2050, or sooner and help the world get to net zero, and a strategy for delivering on that ambition. For more information visit bp.com.
About Rio Tinto
Rio Tinto is a leading mining and metals company, operating in 35 countries and producing high-quality iron ore, copper, aluminium, and other materials essential for the low-carbon transition. We are also one of the world’s largest dry bulk shippers. We are committed to reaching net-zero by 2050 and are targeting a 15% reduction in scope 1&2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. For more information visit riotinto.com.
Rio Tinto Media Relations
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United Kingdom
David Outhwaite
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Canada
Simon Letendre
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Australia
Matt Chambers
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bp press office
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Category: General
HOUSTON--(BUSINESS WIRE)--#NewHopeEnergy--S&B Engineers and Constructors (S&B) signs a multi-year master service agreement to provide engineering, procurement and construction (EPC) services for New Hope Energy’s plastics pyrolysis unit. The initial project under this partnership is the expansion in Tyler, Texas. The expansion will add 420 metric tons per day of capacity to convert plastic waste to chemical feedstocks in the existing facility. This expansion will allow the Tyler plant to divert more than 300 million pounds of plastic waste from landfills annually. The project also represents a long-term alliance between S&B and New Hope Energy, an environmental technology company developing advanced chemical recycling systems.
“We selected the S&B team for this significant project because of their deep technical expertise, fully-integrated EPC capabilities and 50+ year history of successfully delivering industrial-scale facilities,” said Ron Nussle, COO and President of New Hope Energy. “We look forward to the long-term program and collaborative partnership with S&B and its highly developed supply chain as we grow our advanced chemical recycling systems to create a circular economy that moves the U.S. toward a sustainable future.”
S&B will provide full EPC services for the pyrolysis unit expansion to industrial-scale using the Lummus New Hope Plastic Pyrolysis Technology to process plastic waste into renewable chemical feedstocks.
“We’re excited to partner with New Hope to boost its advanced recycling capacity to create solutions for plastic waste,” said Ray Sherman, President of S&B’s Energy Transition, Power and Industrial business unit. “S&B remains at the forefront of energy transition projects because of our engineering expertise and the ability to safely execute on time and within budget.”
The project began in late 2021, with construction completion and commissioning expected in early 2024.
About S&B Engineers and Constructors
S&B Engineers and Constructors is part of the S&B Family of Companies - one of the leading engineering, procurement, construction and fabrication firms in the United States, with more than 50 years of experience. S&B designs, builds and delivers world-scale projects, serving the oil and gas, petrochemicals, renewables, power and public sectors, with quality, integrity and safety always on the forefront. Connect with us on LinkedIn.
About New Hope Energy
New Hope Energy is a pioneer in the field of chemical recycling. Their first pyrolysis plant has been successfully operating in Tyler, TX since 2018, with a current expansion underway. New Hope Energy is developing additional projects to support the circular economy through the conversion of waste plastic into renewable chemical feedstock. To learn more, visit https://newhopeenergy.com.
Lindsay Burke, Director of Communications and Marketing
S&B Engineers and Constructors, Ltd.
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518.879.2101
Ariel Herr
New Hope Energy
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469.235.2708
Companies to implement first-of-its-kind digital twin for field development
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced that it and Aker BP, a Norwegian oil and gas exploration and production company, will co-develop next generation field development planning software. The collaboration delivers a new cloud application – Field Development Planning (FDP) – from Halliburton. It also expands the scope of the current Digital Well Program®, a DecisionSpace® 365 cloud application, built on an open architecture to provide integrated well planning and design to increase collaboration and connectivity across drilling activities.
Built on the OSDUTM Data Platform, FDP converts the manual process of collating field development data to make the decision gate process more efficient and auditable and provides a common audit trail across the subsurface community. FDP helps organizations better understand uncertainty and risks associated with field development concepts.
“We are excited to extend our close collaboration with Aker BP and develop a cutting-edge intelligent system to evolve field development from the manual FDP process that exists in most enterprises,” said Halliburton Chairman, President and CEO Jeff Miller. “FDP creates a holistic view of field development and well construction, which will allow Aker BP to make more informed and expediated subsurface and reservoir/production decisions to optimize its investment and maximize the return on its assets.”
“Aker BP aims to be fully digital and nearly fully automated towards the end of this decade. We are creating an ecosystem where work processes are seamlessly integrated, and data is flowing without friction. Halliburton is a key partner in this strategy. FDP will give us the ability to increase efficiency, maximize value and make data-driven decisions for entire field concepts. Furthermore, we will then understand and mitigate risk and uncertainty on a whole new level,” said Karl Johnny Hersvik, CEO of Aker BP. “Keeping different development scenarios in place for future use gives us a cutting-edge capability to understand how engineering work matures during the development phases. It will make it possible to collaborate and drive transparency across the assets as never seen before in the industry.”
Halliburton and Aker BP build on a close and collaborative strategic relationship over many years.
“Together we are already revolutionizing well construction through transformative expertise, agile processes and game changing technology. We have successfully implemented Collaborative Well Planning for optimal well placements, reduced risk and increased resources. We are close to designing a well in a day with high quality in the open Digital Well Program built on Halliburton’s iEnergy solution. With Field Development Planning we are accelerating our digital transformation to the next level,” said Tommy Sigmundstad, senior vice president of Drilling and Wells for Aker BP.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About Aker BP
Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKRBP’. More about Aker BP at www.akerbp.com.
For Halliburton
Investors:
David Coleman
Investor Relations
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281-871-2688
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Emily Mir
External Affairs
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281-871-2601
For Aker BP
News Media:
Ole Johan Faret
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