MIAMI--(BUSINESS WIRE)--Intradeco Holdings is investing over $100 million in Central America to make the most of the CAFTA-DR and nearshoring opportunities, advance full circularity, and expand solar power with three major projects, it was announced today.
The first project is the Central American Spinning Works, a state-of-the-art ring spinning mill in Honduras, which began operations earlier this year.
The second project is the creation of a manufacturing plant in El Salvador that manufactures 100% recycled yarns -- both cotton and synthetics. This will allow the company to advance in its full circularity textile supply chain strategy.
The third project will allow the company to expand its solar energy power to attain 30 megawatts by the third quarter of 2022.
In making today’s announcement, Felix Siman, Intradeco Chairman said, “Today’s announcement is consistent with our 40 years of innovation and service which comes with being an integral part of the textile, apparel, and retail industries. With our comprehensive distribution channels and state-of-the-art supply chain, we can reach our customers in an efficient and cost-effective manner in the shortest time possible.”
“Intradeco is a founding member in Think HUGE (Honduras, USA, Guatemala, El Salvador) Business and Investment Council. Through these investments, our company is helping to create more than 1,000 jobs in Central America, while contributing to the region´s environmental sustainability objectives,” Mr. Siman concluded.
About Intradeco Holdings
With 40 years in the textile industry, Intradeco is a global vertical-manufacturing company supplying high-quality casual clothing and thermal underwear to major retailers in the United States, Mexico, and Canada. With state-of-the-art manufacturing facilities, pioneering logistics best practices, and merchandising trends, Intradeco is committed to sustainability which has earned the company recognition from multiple partners and retailers.
Intradeco embraces its social responsibility through its commitment to the community by supporting different charities and foundations around the globe.
Melissa M. Krantz
Krantz and Company
917-653-6716
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ATLANTA & LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that the UK Government’s Department of Business, Energy and Industrial Strategy (BEIS) will use the ICE Connect desktop platform for analysis of the UK’s Emissions Trading Scheme (ETS) markets.
ICE Connect brings together a range of cross-asset real-time data, news and analytics for global markets. The comprehensive platform helps customers manage price and currency risks, and streamline workflows. In addition to UK ETS market data, BEIS will have access to data for UK and European utility markets, including ICE’s benchmark natural gas, power and environmental products.
“As companies and governments continue to adopt net zero carbon policies, we are excited to work with forward-thinking organizations like BEIS as they expand their monitoring and analysis of environmental and utility markets,” said Amanda Hindlian, President of Fixed Income and Data Services at ICE. “Whether it’s through ICE’s futures markets or other innovative offerings - such as our ICE Climate Risk service - we have a robust and growing portfolio of solutions to help measure, evaluate and manage risk in markets affected by the energy transition.”
A leader in environmental markets and indices, ICE was appointed by BEIS to host emissions auctions for the UK Emissions Trading Scheme (UK ETS), which started on May 19, 2021. ICE offers customers access to the largest and most liquid environmental markets in the world. The company’s benchmark energy futures contracts help provide price discovery and risk management for natural gas, power, environmental products and oil markets across Europe and in key regions around the world.
A record 18 billion tons of carbon allowances traded on ICE in 2021, equivalent to an estimated $1 trillion in notional value and equal to over half the world’s estimated total annual energy-related emissions footprint. Reflecting how companies use these markets to manage and price carbon, as well as meet compliance obligations, a record 19 million environmental futures and options contracts traded on ICE in 2021. These traded contracts included a record 15.2 billion EU carbon allowances, a record 2.4 billion California carbon allowances, 346 million Regional Greenhouse Gas Initiative allowances and, following its launch in May 2021, 255 million U.K. carbon allowances.
For more information on ICE’s energy markets, please visit https://www.ice.com/energy. More information on ICE Connect can be found at: https://www.theice.com/market-data/desktop-solutions/ice-connect.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.
SOURCE: Intercontinental Exchange
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VANCOUVER, British Columbia--(BUSINESS WIRE)--$LPEN--Following on from the recent webinar, Loop Energy™ (TSX: LPEN) announces it plans to report consolidated financial results for the fourth quarter and full year 2021 after market close on Wednesday, March 23, 2022. Loop will host a conference call on Thursday, March 24 at 8:00 am PT (11:00 am ET) to discuss the company’s financial results for the fourth quarter and full year 2021 and the successful delivery of its 2021 objectives.
Please dial-in by phone 5 to 10 minutes prior to the start time and ask to join the Loop Energy call:
The Company’s past financial results are available at investors.loopenergy.com.
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the Company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
Investor Inquiries:
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DUBLIN--(BUSINESS WIRE)--The "LPG in World Markets" report has been added to ResearchAndMarkets.com's offering.
LPG in World Markets provides comprehensive information, analysis and data on the global LPG brokerage market.
The report provides global coverage of contract and spot LPG pricing, supply and demand, spot transactions, LPG shipping fixtures and trends, and monthly fundamentals data for the major LPG brokerage markets.
Clients benefit from in-depth features and analysis on key issues affecting the industry, along with developments in the Middle East, Asia Pacific and the Americas. The study places particular emphasis on industry trends and fundamental analysis of trade flows and supply and demand.
Every issue of LPG in World Markets includes:
Here are just of few of the areas LPG in World Markets covers in-depth:
The report is published monthly. Subscribers also receive the LPG Yearbook, released in the first quarter of each year, which summarizes and reviews the past year's events.
Key Topics Covered
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/smxo4k
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A Greentech start-up developing reversible fuel cell technology, Refhuel, has named former Sr. Director of R&D Product Development at StoreDot, Dr. Daniel Szwarcman, CEO of its R&D Centre.
The new business is the result of a partnership between Israeli University Bar-Ilan and Refhuel Limited, a subsidiary of investment company Decama Capital.
LONDON--(BUSINESS WIRE)--Reversible fuel cell company, Refhuel (www.refhuel.com), has announced Dr Daniel Szwarcman as its R&D Centre CEO. He will join the company after nearly a decade working for StoreDot, a developer of extreme fast-charging lithium-ion batteries for electric vehicles, most recently as Sr. Director, R&D Product Development. StoreDot is owned by BP, Daimler, Samsung, and TDK.
Dr Szwarcman has worked with StoreDot since its inception in 2012 after finishing his PhD in Chemistry at Tel-Aviv University. He will bring his extensive knowledge and experience of the energy sector to his new role as CEO of the Refhuel R&D Centre.
Along with Dr Szwarcman, Refhuel is also delighted to be welcoming three new scientists to the research team; Bar Gavriel, Noam Zion and Yan Yurko. They are currently in the final stages of completing their doctorates under the supervision of Professor Lior Elbaz, Co-Founder of Refhuel and Associate Professor in Chemistry at Bar-Ilan University, and are joining the Refhuel team.
The announcement of these appointments comes as Refhuel establishes its own lab at Bar-Ilan University. Just two weeks ago the Bahraini Ambassador to Israel, Khaled Al Jalahma, visited Professor Elbaz and his team at the lab. Ambassador Al Jalahma’s visit was part of his tour of Israel’s growing tech industry and reflects growing international interest in Refhuel.
Refhuel is developing a reversible fuel-cell based on a proprietary hydrogen carrier technology that will enable efficient storage and production of energy.
Dr Daniel Szwarcman, incoming CEO of the Refhuel R&D Centre, said:
“I am very pleased to be joining Refhuel which is at the forefront of transforming fuel cell technology. Refhuel is full of exceptionally talented individuals, and I look forward to leading our exciting work, building on my background in the energy sector. GreenTech is a fast-growing and incredibly important sector, and it gives me great professional and personal satisfaction to know that I am joining a company with a big vision to change the world for the better.”
Nathanel Lorenzi, Co-Founder of Refhuel and CEO of Decama Capital Ltd, said:
“We are delighted to have appointed Dr Szwarcman as CEO of the Refhuel R&D Centre. He brings with him outstanding technical knowledge in energy storage as well as extensive management experience from his work at StoreDot. Alongside the appointment of our three research scientists, we are building the team to carry out our mission. This is an exciting moment for the Refhuel team as we look towards to the company’s future as a world leader in innovative fuel cell technology.”
- ENDS -
Integra Group
Mr Zaki Cooper
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Magnolia Agreement to Purchase 2,500,000 Shares of Class B Common Stock from EnerVest
HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) (“Magnolia” or the “Company”) today announced the pricing of the previously announced underwritten block trade of 7,500,000 shares of the Company’s Class A common stock (the “Class A Common Stock”) by certain affiliates of EnerVest, Ltd. (the “Selling Stockholders”) resulting in total gross proceeds to the Selling Stockholders of $162.9 million (the “Offering”). The Offering is expected to close on or about March 14, 2022, subject to customary closing conditions. The Company will not sell any shares of its Class A Common Stock in the Offering or receive any proceeds from the Offering.
In connection with the Offering, the Company has agreed to purchase from the Selling Stockholders 2,500,000 shares of the Company’s Class B common stock at a price per share equal to the price per share at which the underwriter purchases shares of the Company’s Class A Common Stock in the Offering (the “Class B Common Stock Purchase”). The Offering is not conditioned upon the completion of the Class B Common Stock Purchase, but the Class B Common Stock Purchase is conditioned upon the completion of the Offering.
Following the closing of the Offering and Class B Common Stock Purchase, the Selling Stockholders will own 13,528,823 Class A and 35,594,059 Class B shares of the Company, or approximately 21.9% of the total outstanding shares of the Company.
Citigroup is acting as the sole book-running manager for the offering. The Offering is being made pursuant to an effective shelf registration statement, which has been filed with the Securities and Exchange Commission (the “SEC”) and became effective August 30, 2018. The Offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the SEC’s website at www.sec.gov. Alternatively, Citigroup will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146).
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Magnolia Oil & Gas Corporation
Magnolia (MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, including, without limitation, statements regarding the Offering and the Class B Common Stock Purchase, Magnolia’s future financial position, business strategy, budgets, projected revenues, projected costs, and plans and objectives of management for future operations are forward looking statements. When used in this press release, the words could, should, will, may, believe, anticipate, intend, estimate, expect, project, the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Magnolia disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Magnolia cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Magnolia, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids. In addition, Magnolia cautions you that the forward looking statements contained in this press release are subject to the following factors: (i) the length, scope and severity of the ongoing COVID-19 pandemic, including the emergence and spread of variant strains of COVID-19, including the effects of related public health concerns and the impact of continued or new actions taken by governmental authorities and other third parties in response to the pandemic and its impact on commodity prices and supply and demand considerations; (ii) legislative, regulatory, or policy changes, including those following the change in presidential administrations; (iii) the market prices of oil, natural gas, NGLs, and other products or services; (iv) the supply and demand for oil, natural gas, NGLs, and other products or services; (v) production and reserve levels; (vi) the timing and extent of Magnolia’s success in discovering, developing, producing and estimating reserves; (vii) drilling risks; (viii) economic and competitive conditions; (ix) the availability of capital resources; (x) capital expenditures and other contractual obligations; (xi) weather conditions; (xii) inflation rates; (xiii) the availability of goods and services; (xiv) cyber attacks; (xv) occurrence of property acquisitions or divestitures; (xvi) the integration of acquisitions; (xvii) general market, political and economic conditions, including as a result of COVID-19 and the political environment of oil-producing regions, including uncertainty or instability resulting from civil disorder, an outbreak or escalation of armed hostilities or acts of war or terrorism; and (xviii) the securities or capital markets and related risks such as general credit, liquidity, market, and interest rate risks. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Magnolia’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Magnolia’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Investors
Brian Corales
(713) 842-9036
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Media
Art Pike
(713) 842-9057
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX: ALC) and Nova Marine today announced an increased investment in their global short sea shipping joint ventures, NovaAlgoma, by acquiring three cement carriers from KGJ Cement in Northern Europe and two handy-size bulk carriers from Swire Bulk Holdings Pte. Ltd. of Singapore. The vessels will be strong additions to NovaAlgoma’s already diversified vessel portfolio, which includes cement carriers, mini-bulkers and handy-size bulk carriers.
“We carefully consider each opportunity for growth and these vessel purchases fit perfectly into our long-term plan for sustaining a profitable business alongside our partners at Nova Marine,“ said Gregg Ruhl, President and CEO of Algoma Central Corporation. “The three cement carriers will support increasing cement requirements and significant global infrastructure investments. The two handy-size vessels will be part of our active international sales and purchase vessel platform, which has delivered strong returns since 2018,” concluded Mr. Ruhl.
“The cement carriers will supply additional capacity for NovaAlgoma Cement Carriers (“NACC”) and provide tailored and flexible short sea logistics solutions for our customers in this market,” said Vincenzo Romeo, Chief Executive Officer at Nova Marine. “Working together with our partners at Algoma, we continually review market conditions and add incremental investments so we can strategically evolve with fluctuations in industry demand,” added Mr. Romeo.
The first of the three cement vessels, the NACC Providence, previously named the Glory Atlantic, was delivered in early February. The second vessel will follow in early March and the third is expected to be delivered in late June. All three vessels will join the NACC fleet serving a growing list of clients around the world.
The two handy-size bulk carriers, to be named the Sider Athena and the Sider Bear will join the NovaAlgoma Bulk Holdings fleet in late April and will be commercially managed by Nova Marine.
About NovaAlgoma Cement Carriers Limited
NovaAlgoma Cement Carriers (“NACC”), is a joint venture between Nova Marine Holding of Luxembourg and Algoma Central Corporation of Canada that operates specialized pneumatic cement vessels worldwide. Once the above transactions close, NACC will be the largest and most diverse fleet of specialized cement carriers operating globally. The vessels utilize a compressor and pump system to load and unload cement powder; this system is fully enclosed with essentially no discharge to the atmosphere and significantly reduces the carbon intensity of cement transportation versus other modes. Cement shipping operates in regionalized markets in service of large global manufacturers and in support of infrastructure investments.
About NovaAlgoma Bulk Holdings
NovaAlgoma Bulk Holdings is a joint venture between Nova Marine Holding of Luxembourg and Algoma Central Corporation of Canada and operates handy-size bulk carriers worldwide. The vessels are part of a platform that pursues international sales and purchase opportunities in the handy-size market.
About Algoma Central Corporation
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with one under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally. Algoma truly is Your Marine Carrier of Choice™.
About Nova Marine
Nova owns and also operates through its subsidiary Nova Marine Carriers SA, headquartered in Lugano, Switzerland, a varied fleet of modern bulk carriers and belt self-unloading vessels ranging from 5,000 dwt up to 57,000 dwt. With around one hundred ships under control, Nova specializes in bulk traffic in the Mediterranean, Atlantic and Middle East and in Italian/European cabotage. In 2021 Nova Marine Carriers undertook over 2000 voyages and transported around 26 million tonnes of cargo. In 2021 Nova undertook its first carbon neutral voyage, offsetting the CO2 emitted by one of its vessels by voluntarily purchasing carbon credits for a Madagascan solar farm project.
Gregg A. Ruhl
President & CEO
Algoma Central Corporation
905-687-7890
J. Wesley Newton
Senior Vice-President, Corporate Development
Algoma Central Corporation
905-687-7836
Vincenzo Romeo
Chief Executive Officer
Nova Marine
41 91 822 73 05
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce that Vasilis Kopelas has joined the company as Vice President of Business Development (Green Mobility), based in Athens, Greece.
Mr. Kopelas holds extensive experience in the automotive and fuel cell industries, having established a successful 15-year career working for Toyota Motor Europe, serving in multiple senior roles across different functions, such as R&D, Sales & Marketing, Business Strategy, and countries, including Belgium, Japan, and Russia.
Over the past 2 years, Mr. Kopelas served as Manager (Business Development) of Toyota Motor’s Fuel Cells Business Group in Brussels Belgium, being responsible for the corporate fuel cell strategy development, the popularization of fuel cell technology solutions in a variety of sectors and applications, actively contributing to Toyota’s vision towards the creation of a hydrogen society in the EU region.
“Vasilis already has an impressive career in the automotive and fuel cell industries, and we expect him to be a valuable addition to our team. His role will be focusing on strategically developing our offerings for new markets, as well as increasing the supply of our vast range of clean and reliable fuel cell solutions at a global scale,” said Advent’s Chief Marketing Officer, Chris Kaskavelis.
“One of Advent’s main goals is to positively contribute to the global decarbonization efforts, by offering solutions that significantly cut emissions and increase efficiency. Vasilis’s extensive knowledge and global experience will help us in securing Joint Development Agreements of high strategic importance for the company. We are thrilled to welcome him to the Advent team and look forward to collaborating with him,” Mr. Kaskavelis added.
Mr. Kopelas stated, “I am proud and excited to be joining Advent in its mission towards global decarbonization through innovative fuel cell technology. I am eager to use my years of experience to bring their current and future products to market and establish lasting and sustainable partnerships that will further validate Advent’s leading position in the fuel cell industry.”
###
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 100 patents issued and licensed for its fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
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DUBLIN--(BUSINESS WIRE)--The "Ferrystat Monthly" newsletter has been added to ResearchAndMarkets.com's offering.
Ferrystat is a branded monthly report on the UK ferry market. The twenty-page statistical report is based on monthly returns from the leading passenger ferry operators in the UK. The report provides passenger, car and coach traffic by route by mode of transport with clearly-laid-out tables and illustrative charts.
This definitive monitor of the UK ferry industry tracks the competitive position of all major routes on a monthly basis. The report is available soon after the end of each reporting month.
Ferrystat provides timely information for tactical action to improve sales and to give guidance to suppliers, service providers and financiers on the latest trends in the industry.
Key Topics Covered
For more information about this newsletter visit https://www.researchandmarkets.com/r/v9g0mh
ResearchAndMarkets.com
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Energy experts examine current battery technologies, hydrogen energy storage to address renewable intermittency
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Unprecedented amounts of renewable energy are being integrated onto the grid, but with intermittency a major barrier to large-scale decarbonization, the world needs cost-effective long-duration energy storage. Hydrogen 2022: The Road to Energy Storage – a new eBook from Black & Veatch – examines the pros and cons of current battery energy storage technologies and explores hydrogen’s role as an economically viable, technically scalable long-duration energy storage solution.
Available as a free download, Hydrogen 2022: The Road to Energy Storage explores the role of hydrogen energy storage, which can both complement and serve as a reliable alternative to batteries to solve the intermittency issue in a fast, economical manner. Hydrogen surpasses the physical limitations of current mineral-based battery technologies to provide essentially infinite duration storage and backup power. Hydrogen prices are becoming more competitive going forward, while “green” hydrogen, produced with renewable energy, offers a carbon-free solution.
Black & Veatch experts also examine traditional battery technologies – from lithium-ion batteries, which control more than 90 percent of global market share but are constrained to eight hours of storage – to medium-duration energy storage options such as iron-air batteries and zinc-ion batteries, which promise to store multiple days’ worth of energy.
“Long-duration energy storage is the key that will help unlock global decarbonization,” said Jason Rowell, director of new energy solutions with Black & Veatch. “With viable options such as iron and zinc batteries now scaling, stakeholders should be looking to create flexible, complementary systems that can evolve as technologies advance. With the potential to store unlimited hours of energy, hydrogen would enable seasonal shifting, helping to ensure the success of a carbon-free global energy future.”
The eBook also outlines the necessary next steps to move hydrogen energy storage technologies forward. First, these projects need to be demonstrated and scaled, helping to lower cost. Second, true adoption will require regulation changes and government incentives to speed the transition. In the next five to seven years, the market should expect to see a rapid increase in the viability, scalability and availability of long-duration storage solutions.
“We are in a period of exploration and development as the market tries to understand where hydrogen technology stands right now,” said Frank Jakob, director of advanced energy storage solutions with Black & Veatch. “With traditional battery energy storage and hydrogen energy storage on the table, we’ll soon arrive at a future where energy can be balanced and managed, enabling tomorrow’s net-zero future.”
Editor’s Notes:
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
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WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, today announced it has suspended business with Russian entities in response to the ongoing military conflict and humanitarian crisis.
“Chemours condemns the senseless violence taking place and views continuing business as inconsistent with our company values. As always, we will work to meet the needs of our global customers throughout this process, however, we believe suspending business with Russian entities is the right thing to do,” said Mark Newman, President and CEO for Chemours. "We will continue to monitor the situation closely and reassess in the future.”
Chemours also announced a $100,000 donation to the International Committee of the Red Cross to support humanitarian efforts in the region.
“Every day we encourage our people to operate with the courage to make a difference. Over the past two weeks the people of the Ukraine have embodied such courage and perseverance. Now, we want to do our part and help make a difference by supporting those in need,” said Newman.
Chemours has a small office in Moscow and is working closely with employees to ensure their safety.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
INVESTORS
Jonathan Lock
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NEW YORK--(BUSINESS WIRE)--Today, Siemens Smart Infrastructure and Siemens Financial Services launched a $100 million capital program aimed at advancing the decarbonization goals of small to medium sized enterprises. This infusion of capital will help small and medium businesses in the U.S. jumpstart their decarbonization efforts.
As greater emphasis is placed on decarbonization and sustainability worldwide, stakeholder and legislative pressures have been put on the entire supply chain. Small and medium sized businesses make up more than 99 percent of the U.S. economy and have an outsized impact on the country’s ability to meet national and global climate goals. Emissions of suppliers, known as Scope 3 emissions, represent the majority of a large organization’s total greenhouse gas emissions and are increasingly being analyzed in the supplier selection process.
“Small and medium sized enterprises are the backbone of our economy, yet they may not have access to the same capital as our country’s largest corporations when it comes to making sustainability improvements,” said Anthony Casciano, CEO of Siemens Financial Services, Inc. “With each part of the supply chain being evaluated, there is an opportunity for smaller companies to make necessary changes to remain competitive. We are launching this loan program to ensure essential resources for these companies are available to keep pace with our nation and economy’s climate goals.”
Companies interested in the program are encouraged to send an inquiry expressing their commitment and challenges in implementing sustainable operations. Entities chosen to participate in the program will consult with a team of Siemens financial and technological experts to create a custom end-to-end decarbonization roadmap. The scalable roadmap will integrate Siemens’ Smart Infrastructure sustainable-oriented products, solutions, and services such as energy efficiency technologies, alternative renewable energy sources and electric vehicle charging infrastructure.
“A well-designed sustainability plan is now a business imperative for any company, and here at Siemens we take these commitments seriously – both internally within our own operations, and for our customers,” said Ruth Gratzke, President of Siemens Smart Infrastructure USA. “In this program we are providing a complete sustainability strategy that encapsulates every step -- from consulting services and financing solutions through to the cutting-edge technologies that make our customers efficient, resilient and sustainable. This capital is the fuel that will jumpstart the process.”
The capital is available for a wide variety of carbon reduction focused projects. Companies interested in obtaining additional information about the kick-starter capital program can complete an inquiry form at http://www.usa.siemens.com/kickstarter and must meet basic credit worthiness criteria. Those interested in a preliminary emissions assessment can utilize Siemens’ Energy Configurator at eco-web.siemens.com/quick-check.
For further information on the Kick-starter Capital Program and to submit an inquiry for review, please visit www.usa.siemens.com/kickstarter
Follow us on Twitter at: www.twitter.com/siemensUSA
Siemens Smart Infrastructure (SI) is shaping the market for intelligent, adaptive infrastructure for today and the future. It addresses the pressing challenges of urbanization and climate change by connecting energy systems, buildings and industries. SI provides customers with a comprehensive end-to-end portfolio from a single source – with products, systems, solutions and services from the point of power generation all the way to consumption. With an increasingly digitalized ecosystem, it helps customers thrive and communities progress while contributing toward protecting the planet. SI creates environments that care. With around 70,000 employees worldwide, Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland, and its U.S. corporate headquarters in Peachtree Corners, Ga., USA.
Siemens Financial Services (SFS) – the financing arm of Siemens – provides business-to-business financial solutions. A unique combination of financial expertise, risk management and industry know-how enable SFS to create tailored innovative financial solutions. With these, SFS facilitates growth, creates value, enhances competitiveness, and helps customers access new technologies. SFS supports investments with equipment financing and leasing, corporate lending, equity investments and project and structured financing. www.usa.siemens.com/finance
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, Siemens Group USA generated revenue of $17 billion and employs approximately 40,000 people serving customers in all 50 states and Puerto Rico.
For journalists
Ashley Lagzial
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ORLANDO, Fla.--(BUSINESS WIRE)--In line with shared commitments to decarbonize, National Grid and Siemens Energy are teaming up to undertake a cutting-edge upgrade of a National Grid substation using Siemens Energy designed fluorinated gas free “Blue circuit breakers” with clean air insulation and vacuum switching technology.
The installation is an example of how the two companies are leading the energy transition. The elimination of fluorinated gasses, specifically SF6, aggressively mitigates greenhouse gas emissions and furthers each company’s goal of addressing climate change, as the global warming potential (GWP) of SF6 is 23,500 times higher than the GWP of CO2. One kg of SF6 has the same greenhouse gas effect as 23,500 kg of CO2. SF6 also remains in the atmosphere for more than 3,000 years.
“The availability of a SF6-free circuit breaker for this voltage class will go a long way toward helping us meet our net-zero carbon emissions targets,” says Jim McGrath, New England Director of Substation Engineering for National Grid. “Climate change is one of the greatest challenges that we currently confront as a society, requiring bold, creative solutions. The Blue circuit breaker is an excellent example of a solution that will help reduce our emissions.”
Scheduled for commissioning in 2023, Siemens Energy’s Blue circuit breakers will be installed in National Grid’s Ayer, Massachusetts, substation that serves several North Central Massachusetts communities. It will be the first Siemens Energy Blue circuit breaker installation in National Grid’s U.S. electricity network.
The core element of Siemens Energy’s Blue circuit breaker is the vacuum interrupter unit. This revolutionary technology enables fluorinated gas-free and climate neutral high-voltage power grids. Instead of SF6 used in most high-voltage circuit breakers, Siemens Energy’s Blue portfolio combines 80 percent nitrogen and 20 percent oxygen as the insulating medium, called clean air. The gas can be released into the atmosphere with zero harmful effects to people and the environment, and with zero greenhouse gas (GHG) emissions.
“The Blue portfolio design leverages our 150 years of industry experience and has an 11-year proven track record of successful vacuum high-voltage circuit breaker applications,” says Tim Holt, member of the Siemens Energy managing board responsible for the Transmission business. “It shows we are fully committed not only to being carbon neutral ourselves, but to supporting partners like National Grid who care about the environment and human safety.”
Follow us on Twitter at: www.twitter.com/siemens_energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 91,000 people worldwide in more than 90 countries and generated revenue of €28.5 billion in fiscal year 2021. www.siemens-energy.com.
Contact for journalists
Stacia Licona
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SPYDR Fang delivers an optimized spectrum and output for craft growers and home hobbyists at a competitive price point
AUSTIN, Texas--(BUSINESS WIRE)--Fluence by OSRAM (Fluence), a leading global provider of energy-efficient LED lighting solutions for commercial cannabis and food production, launched the latest luminaire in its SPYDR series: SPYDR Fang. Designed specifically for the retail buyer, SPYDR Fang is built with Fluence’s trusted, research-backed and science-led engineering leveraged by commercial growers throughout the world.
SPYDR Fang delivers a 1,600 μmol/s photosynthetic photon flux (PPF) output ideal for full-cycle cannabis cultivation, includes a 0% to 100% dimmer for easy control, and leverages Fluence’s proprietary PhysioSpec™ BROAD R4 spectrum for rapid growth and complete, efficient plant development.
“Craft growers and home hobbyists can leverage SPYDR Fang to achieve expert plant performance in a variety of cultivation environments,” said David Cohen, CEO of Fluence. “The SPYDR series has always been designed for easy installation right out of the box, and SPYDR Fang provides an equally seamless, plug-and-play functionality. The solution harnesses years of commercial cannabis cultivation research and insight into a value-optimized top light available at retailers and distributors throughout the world.”
With greater control, SPYDR Fang delivers the precision and uniformity growers need to increase yields and produce higher-quality plants. SPYDR Fang is available through Fluence’s extensive network of retail partners and distributors.
For more information on Fluence and SPYDR Fang, visit www.fluence.science.
About Fluence by OSRAM
Fluence Bioengineering, Inc., a wholly-owned subsidiary of OSRAM, creates powerful and energy-efficient LED lighting solutions for commercial crop production and research applications. Fluence is a leading LED lighting supplier in the global cannabis market and is committed to enabling more efficient crop production with the world’s top vertical farms and greenhouse produce growers. Fluence global headquarters are based in Austin, Texas, with its EMEA headquarters in Rotterdam, Netherlands. For more information about Fluence, visit www.fluence.science.
For Fluence,
Emma Chase
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SAN DIEGO--(BUSINESS WIRE)--$DFCO #BrianBonar--Dalrada Corporation (OTCQB: DFCO, “Dalrada”) is privileged to announce that the Company’s clean energy subsidiary Likido® is earning serious interest from major commercial entities and top-federal agencies.
Recent attention comes from governmental bodies recognizing Likido®ONE’s heat pump capabilities that produce “clean” energy – at a rate seven times more efficient than traditional water heaters and boilers while reducing energy consumption up to 75%. Interest in the unique heat pump stems from aggressive cost-cutting goals in federal buildings and market transformation with new carbon-reducing technologies.
The U.S. government is committed to sustainability and interagency collaboration for clean energy initiatives like Net Zero by 2050, and recent global developments accelerated those efforts. The current administration’s renewed push for clean energy shifts America from dependence on certain petrostates.
Exponentially-rising oil and natural gas costs, and potential embargos, will ultimately prevent the import of fuel sources from oil-rich areas, particularly in Europe. Outside of the U.S., other leading nations are expected to follow suit as a means of jumpstarting energy transition efforts.
At a time when all energy sources are in high demand, to combat worldwide shortages and high prices, fossil fuels may once again be viewed to provide energy. Likido® provides readily-available energy and cost-efficient heat pumps that run on alternative fuel sources, not depending solely on natural gas, reduces carbon footprints, and drives global sustainability initiatives.
According to Dalrada Founder & CEO, Brian Bonar, “Recognition as a global leader in clean energy is an honor. It’s our mission to create innovation that positively impacts the world and meets sustainability needs head-on. Becoming a true solution in this space while directly addressing noble and just causes – like our current situation – is what drives Likido® forward.”
Dalrada leads with disruptive advanced technology solutions to reduce time and expense to market as an alternative to greenhouse gas-producing energy sources that contain fossil fuels. These innovative resources enable institutions, industries, businesses, and government agencies to implement long-term clean energy and Net Zero sustainability initiatives by or before 2050.
Dalrada continuously creates innovative, impactful solutions to address the complex challenges of today and the future. To learn more about Dalrada Corporation, please visit www.Dalrada.com.
About Dalrada (DFCO)
With perseverance, valor, dedication, and vision, Dalrada Corporation is dedicated to tackling worldwide challenges of today and tomorrow.
Dalrada is a global company that operates under the tenet of creating impactful innovations that matter for the world. The Company works continually to produce disruptive solutions that bridge the gap of accessibility and accelerate positive change for current and future generations.
Established in 1982, the Company has since grown its footprint to include the business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. Each of Dalrada's subsidiaries actively produces affordable and accessible world-class solutions to global problems. For more information, please visit www.dalrada.com.
Disclaimer
Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Denise Mahaffey
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SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) announced today that members of management will participate in virtual meetings with members of the investment community at the Sixth Annual Mizuho Energy Summit on Monday, March 14, 2022 and Tuesday, March 15, 2022. The materials to be discussed in the meetings will be available on the partnership’s website at 10:30 a.m. Eastern Time, Monday, March 14, 2022.
NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 64 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The partnership’s combined system has approximately 57 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/.
NuStar Energy L.P., San Antonio
Investors, Pam Schmidt, Vice President, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314/210-410-8926
MONTREAL--(BUSINESS WIRE)--Today, Montreal-based AON3D announced their AON M2+ High Temperature Industrial 3D Printer will be receiving an optional firmware upgrade to enable Duplication Mode and Mirror Mode 3D printing. This powerful new feature will double the output of new and existing M2+ machines to meet the growing demands of factory floors. Combined with ungated access to the world’s most advanced thermoplastics, largest-in-class build volume, and features that minimize part post-processing, the AON M2+ continues to be the agile manufacturing solution of choice by companies globally — capable of producing functional end-use parts at scale in half the time compared to any other high temperature 3D printer.
With this upgrade, the AON M2+ will be able to print two of the same part, or two mirrored parts concurrently via an Independent Dual Extrusion (IDEX) system, doubling the machine’s output. In addition to increased production capabilities, the IDEX system provides greater design freedom, such as the ability to print large internal geometries and non-liner holes with water-soluble support options, while reducing labor intensive post-processing.
Unlike other 3D printers with IDEX currently available, the AON M2+ is also capable of printing high-performance materials, like PEEK, PEKK, and ULTEM™, which offer some of the strongest and best material properties currently available in 3D printing including:
With the Duplication Mode upgrade, the AON M2+ offers twice the size, twice the output, and more material options than any sub-$60k high temperature 3D printer on the market. Duplication and Mirror Mode are expected to be available via firmware upgrade by fall of this year. Existing AON M2+ customers on a success plan will receive the update free of charge. To learn more about the AON M2+, easy financing options, and high-performance material options, please visit AON3D.com.
About AON3D
Founded in 2015 by a team of materials engineers, AON3D is a Montreal-based additive manufacturing hardware, software, and material science company.
Our solutions drive innovation for hundreds of companies in 25+ countries, ranging from small businesses to multi-national Fortune 500 corporations and government agencies.
Media:
Eric Beardslee
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Sustainability Risk Mapping Visibility Ramps Up 370% As Carbon Action Module Adoption Accelerates
PARIS & NEW YORK--(BUSINESS WIRE)--EcoVadis, the world’s most trusted provider of business sustainability ratings, today announced that the EcoVadis Network has grown to include over 750 requesting organizations, a 50% increase since the start of 2021, and over 90,000 of their trading partners and suppliers.
The network has nearly tripled in Improvement Magnitude this past year heading into the Sustain 2022 virtual conference. Improvement Magnitude measures the total scope of EcoVadis score improvement by companies across the network and is a core indicator of the capacity to drive positive sustainability impact. More than 260 new requesting customers (such as procurement teams and investors) joined the network, with the Northern Europe/UK and North America regions leading the way (at 79 and 76 respectively). These customers extend the reach of the EcoVadis Network into key industries including technology, apparel and energy, all contributing to the rise in risk mapping visibility, carbon emissions reductions engagement and sustainability performance improvement practices:
“As the environmental and social challenges of our planet pass critical tipping points, the need for organizations to transform their practices and business models has never been more urgent,” said Pierre-Francois Thaler, co-CEO of EcoVadis. “With EcoVadis’ network growth, solution adoption, and team capabilities all advancing faster than expected, it’s clear that the momentum of sustainable value chain action is accelerating, to secure business resilience and drive positive impact at scale.”
EcoVadis currently has 1,189 employees, a growth of 50% since last year’s Sustain conference, working across 13 countries and representing 52 nationalities, all dedicated to helping their customers translate ambition into positive social and environmental impact.
Register here to attend Sustain 2022 and hear updates on the product roadmap, adoption goals and experiences of practitioners using the EcoVadis solution.
About EcoVadis
EcoVadis is the world's most trusted provider of business sustainability ratings. Global supply chains, financial institutions and public organizations rely on EcoVadis to monitor and improve the sustainability performance of their business and trading partners. Backed by a powerful technology platform, EcoVadis’ evidence-based ratings are validated by a global team of experts, and are adapted to more than 200 industry categories, 160 countries, and companies of all sizes. Its actionable scorecards provide benchmarks, insights, and a guided improvement journey for environmental, social and ethical practices. Industry leaders such as Amazon, Johnson & Johnson, L’Oréal, Unilever, LVMH, Salesforce, Bridgestone, BASF, and ING Group are among the 90,000 businesses that collaborate with EcoVadis to drive resilience, sustainable growth and positive impact worldwide. Learn more on ecovadis.com, Twitter or LinkedIn.
Press Inquiries
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Joins Roeslein Alternative Energy and Smithfield Foods to further develop, implement, and expand next generation renewable natural gas technologies to curb methane emissions
SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, today announced an investment in Monarch Bioenergy (“Monarch”), a joint venture between Roeslein Alternative Energy (“RAE”) and a subsidiary of Smithfield Foods, Inc. (together with its subsidiaries, “Smithfield”). Launched in 2018, Monarch leverages RAE’s state-of-the-art technology and Smithfield’s innovative sustainable farming practices to capture methane emissions and convert them into carbon-negative renewable natural gas (RNG) to power homes, vehicles and businesses. Chris Roach, President of RAE, will serve as Monarch’s Chief Executive Officer, a newly created role.
Accelerating the transition to renewable energy, greening the industrial sector, and scaling greenhouse gas abating technologies are core pillars in TPG Rise Climate’s multi-sector investing strategy. As an equal partner in the JV, TPG Rise Climate will work with RAE and Smithfield to advance agricultural innovation, enhance existing projects in Missouri, and develop new ones in select states across the U.S.
“For years, Rudi Roeslein and his eponymous company RAE have been developing proven, market-based solutions to demands for both sustainable agriculture and renewable energy,” said Marc Mezvinsky, Business Unit Partner in TPG Rise. “Applying RAE’s anaerobic digester technology, as well as additional circular technologies and environmental protections, to Smithfield’s hog farms is a significant and meaningful step towards addressing methane emissions at their source. Advancing and scaling proven GHG abating technologies like those used by Monarch is central to our mission at TPG Rise Climate, and we look forward to working with RAE and Smithfield to advance and drive operational best practices for these emerging technologies.”
Monarch’s technology and proprietary process are key to creating closed loop, zero-waste systems on large farms. Its anaerobic digester infrastructure captures methane emissions from manure and converts those emissions into pipeline-quality natural gas, which is distributed to RNG markets across the country. The type of biogas created by Monarch’s process has consistently received the lowest LCFS carbon intensity scores, reducing greenhouse gas emissions and providing air quality health benefits by reducing surface ozone. Additionally, the byproducts of Monarch’s anaerobic digestion are feedstock for other important farm-related circular uses including fertilizer, irrigation, and soil regeneration. The JV is also actively seeking partnerships that would leverage emerging technological solutions to turn effluent waste from the digester process into organic fertilizer, clean water, and compostable fiber. In connection with its mission, Monarch will also explore becoming a Certified B Corporation.
As part of Smithfield’s commitment to becoming carbon negative across its U.S. company-owned operations by 2030, the company established Smithfield Renewables in 2017 to unify its GHG-reduction efforts with a focus on emissions reduction and efficiency efforts on farms, processing facilities and across its transportation and logistics network.
“We are excited to integrate TPG Rise Climate’s rigorous impact and operational capabilities into Monarch,” added Kraig Westerbeek, Vice President of Smithfield Renewables. “TPG Rise Climate’s mission to scale emerging climate solutions that result in quantifiable greenhouse gas avoidance is consistent with our commitment to lead in agricultural innovation and sustainability.”
“We continue to see Monarch as a blueprint for how to address environmental challenges with fully integrated, closed-loop innovations,” said RAE Chairman and CEO Rudi Roeslein. “With investments in technology and innovation, farming, both large and small, can be a keystone in the circular economy. Not only do Smithfield’s operations create a natural feedstock for low carbon or carbon negative natural gas, but it also gives us an opportunity to begin to sustainably replant and harvest prairie grasses that naturally sequester carbon, store and filter water, and create biomass for the production of additional RNG.”
As part of RAE’s goal to restore 30 million acres of land to native prairie plants strategically located around waterways, streams, rivers, and highly erodible lands, Monarch and RAE have already planted several thousand acres of prairie grass, providing ecological services and wildlife habitat for monarch butterflies across Missouri. The partnership is actively exploring ways to expand this initiative to other Monarch projects.
“Monarch is taking an innovative approach to tackling methane emissions – one of the most complex challenges we face in the fight against climate change. With additional capital and expertise from TPG Rise Climate, Monarch will continue to advance RAE’s technology and commercialize its adoption to large and small agricultural operations across the country,” said Chris Roach, newly appointed CEO of Monarch.
More information on RAE's sustainability commitments is available here and information on Smithfield Renewables can be found here.
Kirkland & Ellis is serving as legal advisor to TPG Rise Climate. Hunton Andrews Kurth is serving as legal advisor to Smithfield.
About TPG Rise Climate
TPG Rise Climate is the dedicated climate investing strategy of TPG's global impact investing platform TPG Rise. TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG's investing professionals, the strategic relationships developed across TPG's existing portfolio of climate-focused companies, and a global network of executives and advisors. The fund takes a broad-based sector approach to investment types, from growth equity to value-added infrastructure, and focuses on five climate sub-sectors: clean energy, enabling solutions, decarbonized transport, greening industrials, and agriculture & natural solutions. Jim Coulter, TPG Founding Partner and Executive Chairman, serves as Managing Partner of TPG Rise Climate and former U.S. Treasury Secretary Hank Paulson serves as TPG Rise Climate's Executive Chairman. For more information, please visit www.therisefund.com/tpgriseclimate.
About Roeslein Alternative Energy, LLC
Roeslein Alternative Energy (RAE) is the owner, operator and developer of renewable energy production facilities that convert agricultural and industrial wastes, along with renewable biomass feedstocks to renewable natural gas and sustainable co-products. RAE engages in these business operations with a focus on incorporating native prairie restoration. RAE is a limited liability company with its principal offices located in St. Louis, Missouri. RAE was launched in 2012 by Rudi Roeslein, co-founder and CEO of St. Louis-based Roeslein and Associates, Inc. (a global leader in engineering, modular fabrication, and construction of industrial plant facilities).
About Smithfield Foods, Inc.
Headquartered in Smithfield, Va. since 1936, Smithfield Foods, Inc. is an American food company with agricultural roots and a global reach. With more than 60,000 jobs globally, we are dedicated to producing "Good food. Responsibly®" and serve as one of the world's leading vertically integrated protein companies. We have pioneered sustainability standards for more than two decades, including our industry-leading commitments to become carbon negative in our U.S. company-owned operations and reduce GHG emissions 30 percent across our entire U.S. value chain by 2030. We believe in the power of protein to end food insecurity and have donated hundreds of millions of food servings to our communities. Smithfield boasts a portfolio of high-quality iconic brands, such as Smithfield®, Eckrich® and Nathan's Famous®, among many others. For more information, visit www.smithfieldfoods.com, and connect with us on Facebook, Twitter, LinkedIn and Instagram.
TPG Rise
Ari Cohen
Director, External Affairs
415-743-1550
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Roeslein Alternative Energy
Brandon Butler
Director of Communications
660-281-9804
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Smithfield Foods
Jim Monroe
Vice President, Corporate Affairs
757-365-3559
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HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced that David R. Looney plans to retire from the company and will relinquish his position as Executive Vice President and Chief Financial Officer on June 30, 2022. The Board of Directors has elected Thomas J. “Tom” Mireles to serve as his replacement effective upon Mr. Looney’s retirement. Mr. Mireles will assume Mr. Looney’s responsibilities, as well as maintain oversight of the company’s sustainability function.
Mr. Looney joined Murphy in 2018, and will conclude his 38-year financial career by modernizing Murphy’s financial function, as well as leading efforts to strengthen the balance sheet following the global pandemic.
Joining the company in 2005, Mr. Mireles has a proven track record with Murphy as he earned roles with increasing responsibility culminating in his most recent position as Senior Vice President, Technical Services. While working at the company, Mr. Mireles has gained extensive experience in managing multiple disciplines, including Senior Manager Planning and Business Development, as well as gaining significant operational experience serving as a senior vice president in both the Western and Eastern Hemispheres. Prior to Murphy, he started his career in 1996 as a petroleum engineer for a major integrated energy company. Mr. Mireles received bachelor’s and master’s degrees in petroleum engineering from Texas A&M University and a Master of Business Administration from the London Business School. In addition, he completed the following executive programs through Harvard Business School: Advanced Management Program, High Potentials Leadership Program, and Succeeding as a Strategic Chief Financial Officer.
“As a key member of the executive team, we want to recognize and thank David for his significant contributions during a transformative time in our company, and wish him all the best on his pending retirement,” stated Roger W. Jenkins, President and Chief Executive Officer. “In addition, we want to acknowledge that Tom’s outstanding leadership skills and in-depth knowledge about Murphy, financial operations and sustainability position him to be successful with his new responsibilities, and I want to congratulate him on his new role. As we look to the future, Tom and his team will continue with Murphy’s ongoing commitment to sustainability efforts, as well as fulfill Murphy’s commitment to delever, execute and explore.”
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
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