WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) today announced that it will release its fourth-quarter and full-year 2021 financial results before the market opens on Monday, February 28, 2022, and host a conference call that morning for investors and analysts.
| Time: | 10:00 a.m. ET | |
| Dial-in numbers: | (877) 709-8155 (U.S. and Canada) | |
| (201) 689-8881 (International) |
The call also will be webcast live and archived on the Investor Relations section of the Global Partners website, https://ir.globalp.com.
About Global Partners LP
With approximately 1,700 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit https://www.globalp.com/.
Gregory B. Hanson
Chief Financial Officer
Global Partners LP
(781) 894-8800
Sean T. Geary
Acting General Counsel, Secretary and
Vice President – Mergers & Acquisitions
Global Partners LP
(781) 894-8800
DUBLIN--(BUSINESS WIRE)--The "Digital Oilfield (Oil and Gas) - Thematic Research" report has been added to ResearchAndMarkets.com's offering.
The report assesses how companies are enabling digital transformation while undertaking exploration and production activities in the oil and gas industry.
Digital Oilfields enable oil and gas companies and oilfield service providers to remotely monitor and control critical activities at production facilities. These technologies aim to boost productivity and efficiency in exploration and production (E&P) by minimizing equipment downtime and improving hydrocarbon recovery.
This is especially critical in today's scenario where oil and gas producers are seeking to streamline their costs to recover from the COVID-led energy demand shock. Digital oilfields also help reduce the need for the physical deployment of personnel on site, thereby improving worker safety. Digital oilfield technologies have gained momentum with the advent of the Internet of Things (IoT).
They use artificial intelligence (AI), predictive analytics, and visualization tools to generate data-driven insights in real time to speed up decision-making processes. Companies are looking to automate as many processes as possible to mitigate operational risks as well as labor risks, potentially leading to cost savings in the long term.
Scope
Reasons to Buy
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/bwdeie
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Twenty20 Energy To Become An International Power Generation Group, Offering Reliable, Cost-Effective and Sustainable Solutions; Public Offering Planned for Q2, 2022
SINGAPORE--(BUSINESS WIRE)--Asia Pacific Energy Ventures Pte. (APEV) announced today that it will carve out subsidiary Twenty20 Energy Systems with plans to take it public on the Nasdaq in the second quarter of 2022.
Singapore-based Twenty20 Energy was formed in 2014 as a subsidiary to APEV, and has emerged as a leading engineering, procurement and construction (EPC), and operations and maintenance (O&M) service provider. The company specializes in providing innovative energy technology solutions to remote and coastal communities with reliable, cost-effective and sustainable power in ways that minimize environmental impact.
Geoff Lawrence, previously the CEO of APEV, has been named CEO of Twenty20 Energy, responsible for pursuit of its public listing. Steve Newman was named CEO at Asia Pacific Energy Ventures.
“Twenty20 Energy, as an energy-focused group, is poised to pursue power generation projects globally at a time when many developing nations are seeking to harmonize accelerated economic growth with minimized environmental impact,” said Lawrence. “Twenty20 is poised to help our customers liberate themselves from inefficient and environmentally unstable energy approaches and to open up new avenues for growth in many emerging markets. In particular, we are committed to freeing coastal and remote communities around the world from dependence on coal and diesel fuel as they move toward more efficient, environmentally friendly power generation solutions that will improve their economic, social and environmental health.”
Recognizing the demand for reliable power generation in developing countries, APEV realized those needs could best be served by a company devoted solely to meeting that demand. With a focus on clean-energy solutions, Twenty20 Energy has four priorities:
Since 2014, Twenty20 Energy’s management has focused on Papua New Guinea, where it has successfully delivered 16 nationally significant energy and construction projects. During this period, the company established two reliable revenue streams: EPC project work and long-term operations and maintenance contracts.
Twenty20 Energy is now poised to take advantage of the increasing economic development, urbanization and growing demand for electricity in the wider Asia Pacific region and around the world. It has a strong pipeline of power generation projects in Papua New Guinea and internationally that is set to deliver strong, continued earnings growth. Evolving revenues will be bolstered by additional project opportunities that offer both initial EPC revenues as well as long tail returns from both long-term O&M contracts and project ownership.
Twenty20 Energy will provide an economic boost to underserved remote and coastal communities by turning power into progress. In addition to enabling sustainable economic growth, Twenty20 Energy brings significant benefits from a social and environmental perspective. It prides itself on being a socially responsible employer that engages a local workforce to ensure all economic benefits are realized in the communities it serves.
Twenty20’s assets include light industrial vehicles and equipment, gas supply valve and piping assets, a power operations base in Papua New Guinea, and a proprietary “Power Island” Floating Storage Regasification & Power (FSRP) solution that is set to provide near- and long-term energy and electrification needs of Papua New Guinea, and will be applicable to archipelago and coastal communities around the world. The Power Island FSRP represents the innovative approach Twenty20 brings to “energy-challenged” environments.
Asia Pacific Energy Ventures, along with its PNG subsidiary Pacific Energy Consulting (PEC), will continue to be a construction and contracting services execution partner for Twenty20 Energy on its Papua New Guinea projects. APEV will also continue to serve PNG’s leading corporate and government institutions across new construction and infrastructure projects, and will provide ongoing service and maintenance of existing buildings and assets. PEC has a dedicated team of national and expatriate staff and established in-country operations including offices and warehousing, civil works and construction equipment, and a full fleet of service vehicles.
About Twenty20 Energy
Twenty20 Energy is a leading EPC and operations and maintenance provider focused solely on the energy sector – leading the transition toward low carbon energy. It specializes in providing innovative energy technology solutions to remote and coastal communities with reliable, cost-effective and sustainable power that minimizes environmental impact. Twenty20 is poised to take advantage of the increasing economic development, urbanization and increasing demand for electricity in the wider Asia Pacific region and around the world.
About Asia Pacific Energy Ventures
Asia-Pacific Energy Ventures specializes in consulting, construction and contracting, with a focus on commercial, industrial and residential buildings, property development, infrastructure and power projects. With a dedicated team and established operations, APEV has proven capability and an exemplary track record of working closely with clients to identify and deliver solutions that support its operational objectives and major project mandates. APEV’s integrated services allow clients to work with one trusted partner on the full scope of any project. This can include initial solution development, engineering and design, project execution planning, civil and structural works, electrical, fire protection, plumbing and HVAC services installation, and ongoing service and maintenance. In all cases, APEV is committed to quality of work and client satisfaction, while being a driving force in the advancement of Papua New Guinea and the broader Asia-Pacific region.
Bob Zeitlinger / Makovsky
This email address is being protected from spambots. You need JavaScript enabled to view it. / 551 427 7298
DUBLIN--(BUSINESS WIRE)--The "India Hydrogen Fuel Cell Vehicle Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.
The report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the India market. Also, factors that are driving and restraining the hydrogen fuel cell vehicle market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market.
Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of hydrogen fuel cell vehicle market in India.
Highlights of the Report
The report provides detailed insights into:
1) Demand and supply conditions of hydrogen fuel cell vehicle market
2) Factor affecting the hydrogen fuel cell vehicle market in the short run and the long run
3) The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, and technological factors
4) Key trends and future prospects
5) Leading companies operating in hydrogen fuel cell vehicle market and their competitive position in India
6) The dealers/distributors profiles provide basic information of top 10 dealers & distributors operating in (India) hydrogen fuel cell vehicle market
7) Matrix: to position the product types
8) Market estimates up to 2027
The report answers questions such as:
1) What is the market size of hydrogen fuel cell vehicle market in India?
2) What are the factors that affect the growth in hydrogen fuel cell vehicle market over the forecast period?
3) What is the competitive position in India hydrogen fuel cell vehicle market?
4) What are the opportunities in India hydrogen fuel cell vehicle market?
5) What are the modes of entering India hydrogen fuel cell vehicle market?
Key Topics Covered:
1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for India Hydrogen Fuel Cell Vehicle Market
3.5. Growth Matrix Analysis
3.6. Competitive Landscape in India Hydrogen Fuel Cell Vehicle Market
4. India Hydrogen Fuel Cell Vehicle Market by Technology
4.1. Alkaline Fuel Cell
4.2. Proton Exchange Membrane Fuel Cell
4.3. Solid Oxide Fuel Cell
5. India Hydrogen Fuel Cell Vehicle Market by Vehicle Type
5.1. Passenger Cars
5.2. Commercial Vehicle
For more information about this report visit https://www.researchandmarkets.com/r/1b54ji
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TAMARACK, Minn.--(BUSINESS WIRE)--The US Department of Energy has awarded $2.2 million of funding to a Rio Tinto-led team to explore carbon storage potential at the Tamarack nickel joint venture in central Minnesota.
Rio Tinto has assembled a team of climate innovation and research leaders to explore new approaches in carbon mineralisation technology as a way to safely and permanently store carbon as rock. Rio Tinto will contribute $4 million in funding for the 3-year project, in addition to the funding from the Department of Energy’s ARPA-E Innovation Challenge.
Carbon mineralisation uses natural chemical reactions to convert captured carbon dioxide (CO2) into rock and store it underground. It has the potential to be an important technology in meeting global climate goals and is now being used at large scale by the world’s leading carbon mineralisation company Carbfix in Iceland.
Rio Tinto’s technical experts will work with partners including the Department of Energy’s Pacific Northwest National Laboratory (PNNL), which has demonstrated carbon mineralisation technology in Washington state; Columbia University; Carbfix; and Advantek Waste Management Services. Talon Metals, the majority owner and operator of the Tamarack Nickel Project and Rio Tinto’s joint venture partner, is contributing ore body knowledge and land access for scientific field work.
Rio Tinto Chief Scientist Dr Nigel Steward said “Our aim is to deliver carbon storage solutions that can help to meet climate targets by reducing and offsetting emissions from our operations and in other industries, and to explore the emerging commercial opportunities carbon storage may offer at Rio Tinto sites around the world. We will be working with leading researchers and innovators to prove the carbon storage potential of the Tamarack site and develop mineralisation solutions that can be used not just here but at other similar locations.”
PNNL CO2 subsurface sequestration expert Todd Schaef said “This work will leverage the knowledge gained from PNNL’s Wallula Basalt Carbon Storage Pilot Project, the only supercritical CO2 injection in basalt demonstration in the world. We will be developing forward-looking carbon storage strategies with Rio Tinto and the broader team. PNNL stewards a suite of capabilities that allow us to look at real-time CO2 interactions with rocks under extreme conditions. We are proud to bring interdisciplinary expertise with computational scientists, geochemists, and engineers who have been researching the subsurface mineralisation of CO2 for decades.”
Columbia Climate School Founding Dean Sir Alex Halliday said “We are truly excited by the opportunity that this partnership brings to rapidly advance carbon management technologies at scale. This is an important project and a superb example of the work for which the Columbia Climate School was established; bringing climate knowledge to action through transdisciplinary projects with critical public and private partnerships. We look forward to much more to come.”
Carbfix CEO Dr. Edda Aradottir said “This project will bring together leading industrial players, academics and experts demonstrating the international partnerships needed for accelerated climate action. Carbfix is a global pioneer in carbon mineralization with a proprietary technology that can play a vital role in climate action, having over a decade long experience in safely injecting and storing CO2 from emission sources as well as the atmosphere. We are excited to bring our expertise to this partnership and help find solutions for the unique geological conditions found at the Tamarack site.”
Talon Metals CEO Henri van Rooyen said “Rio Tinto has assembled a uniquely qualified team of scientists and innovators to explore new approaches to harness carbon mineralisation as a way to safely and permanently store carbon sourced from hard-to-abate industries and carbon removed from the atmosphere.
“Talon is pleased to host this project here in Aitkin County Minnesota, which will be at the forefront of new approaches to climate science.”
Analyses by the UN Intergovernmental Panel on Climate Change show that billions tons of CO2 must be removed from the atmosphere in order to keep global warming to less than 2°C, and that this will not only require deep reductions in emissions but also carbon dioxide removal technologies. While Rio Tinto is prioritising emissions reductions at mines and smelters, it is also exploring the potential role of carbon capture and mineralisation to safely and permenantly store carbon in solid form.
Notes to editors
Tamarack is a nickel, copper and cobalt project located in central Minnesota that is currently progressing towards feasibility studies. The project is managed by Rio Tinto’s joint venture partner Talon Metals, which holds a 51 per cent share and has a right to earn-in to acquire up to 60 per cent.
Until now, large scale carbon mineralisation projects have focussed on areas with certain types of rock formations known as basaltic lava geology, such as Carbfix’s sites in Iceland. In contrast, the Tamarack Nickel Project includes a large bowl of what is known as porous ultramafic rock. While this bowl sits outside the resource of nickel and other battery minerals, it has the potential to safely store hundreds of millions of tons of carbon in solid form through natural reactions.
The project will include laboratory studies and field work to confirm the carbon storage potential of the site, understand the area’s hydrology and assess different carbon mineralisation technologies, developing a roadmap by 2025 to guide decisions on implementation.
The Tamarack site is also planned to host the first deployment of climate technology start-up Carbon Capture’s innovative Direct Air Capture technology, which captures carbon dioxide from the atmosphere and offers a potential supply source of carbon for mineralisation. Rio Tinto has invested $4 million in Carbon Capture to support the development of its technology and feasability studies for the deployment at Tamarack are now underway.
Rio Tinto is also partnering with Carbfix to help deliver the world’s first carbon mineral storage hub in Iceland and implement carbon capture and mineral storage at the ISAL aluminium smelter.
Please direct all enquiries to This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Relations, UK
Illtud Harri
M +44 7920 503 600
David Outhwaite
M +44 7787 597 493
Media Relations, Australia
Jonathan Rose
M +61 447 028 913
Matt Chambers
M +61 433 525 739
Jesse Riseborough
M +61 436 653 412
Media Relations, Americas
Matthew Klar
T +1 514 608 4429
Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178
David Ovington
M +44 7920 010 978
Clare Peever
M +44 7788 967 877
Investor Relations, Australia
Natalie Worley
M +61 409 210 462
Amar Jambaa
M +61 472 865 948
Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
Category: General
DUBLIN--(BUSINESS WIRE)--The "Current Status of Carbon Pricing Worldwide" report has been added to ResearchAndMarkets.com's offering.
Carbon pricing mechanisms include emissions trading systems (ETS), carbon taxes, carbon credits, and internal carbon pricing. Carbon prices around the world rose during 2021, in large part due to net zero targets and tightening pollution restrictions related to COP26. Other contributing factors have been greater use of coal due to higher natural gas prices, a price floor push from Germany, and upcoming deadlines for options trading. Just 22% of global GHG emissions are priced, and only 4% are priced at Paris-compatible levels.
Most ETS's are focused on heavy industry and power sectors, while carbon taxes sometimes include all sectors. Generally, the taxes are applied to the highest level of the value chain (i.e. producers and importers), and in a minority of cases applied directly to users. In the US, a methane fee is under consideration in Congress. It would apply a tax of $900/ton to oil & gas operations in 2023, increasing to $1500/ton in 2025. Europe has the most mature ETS, with other carbon pricing leaders being Canada and, South Korea, and New Zealand.
Carbon pricing is an effective economic measure for reflecting the true costs associated with greenhouse gas emissions. This report provides an introduction to the different types of carbon pricing mechanisms, current global price levels, sectors that are covered by carbon pricing, gives context to the current scope and scale of carbon pricing coverage, addresses the pricing level needed to reduce emissions and the effectiveness of using carbon pricing, and shows which countries or regions currently use or are considering implementing carbon pricing.
Companies Mentioned
Scope
Reasons to Buy
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/ybesfh
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Red Rock Biofuels LLC (the Company), a next-generation producer of low-carbon biofuels, today announced that it is working with GLC Advisors & Co. to source a development partner to finance the completion of its biofuels facility that will produce sustainable aviation fuel (SAF) and renewable diesel. The facility will be one of the first SAF plants in North America to produce drop-in fuels and is designed to produce approximately 20 million gallons per year of low-carbon intensity renewable biofuels.
As part of the process to source a development partner, the Company has parted ways with Terrance Kulesa and Jeffrey Manternach and put in place new management, a new engineering team and an independent committee of the board, each with deep expertise and experience in engineering, energy project construction and turnaround management. Specifically, the Company terminated its arrangements with companies affiliated with Kulesa and Manternach and transitioned to a best-in-class engineering, procurement and construction (EPC) team that includes: S&B Engineers and Constructors, Ltd.; Nexus Program Management Group, LLC, which will be evaluating startup and commissioning efforts, a world leading engineering construction company; and EthosEnergy, which is providing asset management services.
Chip Cummins, an Executive Director at RPA Advisors who began working with the Company in March 2021, is serving as the interim Chief Executive Officer. Mr. Cummins will work closely with the Company’s independent board and with GLC, S&B, Nexus, the world-class construction manager and Orrick, Herrington & Sutcliffe, as legal counsel, to find a development partner.
“I am honored to serve as interim CEO for Red Rock Biofuels and look forward to tackling the growing need for low-carbon, renewable jet and diesel fuels,” Cummins said. “The Company is uniquely positioned to deliver sustainable biofuel with attractive financials and a scalable model and I’m very focused on delivering upon that mission. I am confident that we have the right advisors to execute on our vision of being an early market entrant in the renewable biofuels space for the transportation and aviation industries.”
Going forward, the Company expects to be a significant contributor in the SAF Grand Challenge to reduce the costs, enhance the sustainability and expand the production of SAF, as the aviation industry seeks to reach its goal of net-zero emissions.
About Red Rock Biofuels
Red Rock Biofuels was founded in 2011 to tackle the escalating problem of catastrophic wildfire in the Western U.S. and the rapidly growing need for renewable, low-carbon jet and diesel fuels. Red Rock is building one of the world’s first commercial-scale cellulosic biorefineries in Lakeview, Oregon to convert woody biomass residue into SAF and cellulosic renewable diesel fuels.
For Red Rock media inquiries, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
For development partner inquires, please contact GLC Advisors & Co.:
Michael Kizer
This email address is being protected from spambots. You need JavaScript enabled to view it.
Abe Han
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that it plans to release its results for the fourth quarter and full year 2021 after the close of the New York Stock Exchange (NYSE) on Wednesday, February 23.
The following morning, on Thursday, February 24 the company will hold its conference call with the financial community at 11 a.m. Eastern time. Scott Rowe, president and chief executive officer, and other members of management will present.
The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties at www.flowserve.com under the "Investor Relations" section.
About Flowserve
Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes 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 are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon second-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
DUBLIN--(BUSINESS WIRE)--The "Global Vessel Traffic Management System Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the vessel traffic management system market and it is poised to grow by $ 533.83 mn during 2022-2026, progressing at a CAGR of 4.61% during the forecast period.
The report on the vessel traffic management system market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by enhanced port and harbor security and safety and strict regulations promoting the adoption of VTMS.
The vessel traffic management system market analysis includes the end-user segment and geographic landscape. This study identifies the increased business efficiency as one of the prime reasons driving the vessel traffic management system market growth during the next few years.
Companies Mentioned
The report on vessel traffic management system market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by End-user
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/q59zkx
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today said it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first discovery.
Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is expected to reach its target of 220,000 barrels of oil later this year, as operations continue to be brought safely online. It adds to the more than 120,000 barrels per day of capacity at the Liza Destiny FPSO, which began production in December 2019 and is now delivering at better than design capacity. The Stabroek Block’s recoverable resource base is currently estimated at more than 10 billion oil-equivalent barrels.
“We are collaborating closely with the government and people of Guyana to develop this world-class resource responsibly, helping to meet the world’s energy needs and delivering enhanced value for all stakeholders at a record pace and well ahead of the industry average,” said Liam Mallon, president, ExxonMobil Upstream Oil and Gas. “With unparalleled project execution, we now have two production facilities operating offshore Guyana.”
The current resource has the potential to support up to 10 projects. ExxonMobil anticipates that four FPSOs with a capacity of more than 800,000 barrels per day will be in operation on the Stabroek Block by year-end 2025. Payara, the third project in the Stabroek Block, is expected to produce approximately 220,000 barrels of oil per day using the Prosperity FPSO vessel, which is currently under construction. The field development plan and application for environmental authorization for the Yellowtail project, the fourth project in the block, have been submitted for government and regulatory approval.
Timely development of these additional projects and continued exploration success offshore will enable the steady advancement of Guyanese capabilities and enhanced economic growth. More than 3,500 Guyanese are now supporting ExxonMobil’s activities in Guyana. ExxonMobil and its direct contractors spent approximately $219 million with more than 880 local suppliers in 2021, a 37% year-over-year increase.
The Liza Unity arrived in Guyana in October 2021. It is moored in water depth of about 1,650 meters and will be able to store around 2 million barrels of crude. The Liza Unity is the world’s first FPSO to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping in recognition of the sustainability of its design, documentation and operational procedures.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, timing, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; restrictions in trade, travel or broader government responses to current or future waves of COVID-19; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K. References to “recoverable resource” include quantities of oil and gas that are not yet classified as proved reserves under SEC rules but that are expected to be ultimately recoverable and are provided on a gross basis.
ExxonMobil Media Relations
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DUBLIN--(BUSINESS WIRE)--The "High Performance Seals Market" report has been added to ResearchAndMarkets.com's offering.
This report includes the factors fueling market growth, revenue estimation and forecast, and market share analysis along with the identification of significant market players and their key developments.
The high- performance seals market was valued at US$ 7,920.82 million in 2020 and is projected to reach US$ 10,426.16 million by 2028; it is expected to grow at a CAGR of 4.0% from 2021 to 2028. High-performance seals are used against high-pressure gases and liquid chemicals to withstand mechanical deformation. Seals are either machined or molded and are carefully designed using sophisticated simulation software. Seals are made of a variety of materials, such as polyurethane, rubber, or polytetrafluoroethylene (PTFE). High-performance seals are of different types such as hydraulic seals, rotary shaft seals, oil seals, packings, gaskets, and other high- performance rubber and plastic parts. High-performance seals offer high resistance from fluid, heat, and wear & tear.
Based on end-use industry, the high- performance seals market is categorized into oil & gas, chemical, power generation, aerospace & defense, pharmaceutical, automotive, food & beverage, and others. The chemical segment held the largest share in 2020. High-performance seals are used in various chemical processing applications, such as sealing pumps, valves, tanks, and fluid metering devices. The chemical industry consists of a variety of processes and materials requiring individually tailored sealing solutions. These seals ensure that nothing harmful infiltrates into the process. The high-performance seals to be used in the chemical industry require outstanding chemical resistance to various aggressive media, resistance to high and low temperature extremes, and robust mechanical strength.
The global high- performance seals market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2020, Asia Pacific contributed to the largest share in the global high- performance seals market. The dominance of the high-performance seals market in this region is primarily owing to the presence of a strong industrial base with prominent manufacturers significantly contributing to market growth. The rise in investment in manufacturing sector across economies further provides lucrative opportunities for the growth of the high- performance seals market in Asia Pacific. The robust automotive manufacturing base in Asian economies, has supported the growth of high-performance seals to augment regional market growth.
Impact of the COVID-19 Pandemic on the High- Performance Seals Market
The ongoing pandemic has drastically altered the status of the industrial sector and has negatively impacted the growth of the high-performance seal market. Industries such as oil & gas, chemical, power generation, aerospace & defense, pharmaceutical, semiconductor, automotive, and food & beverages have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. The significant disruptions in terms of sourcing of raw materials from suppliers and temporary closure of manufacturing bases due to indefinite lockdowns and temporary quarantines have impacted the growth of the market. Nevertheless, as the economies are planning to revive their operations, the demand for high-performance seals is expected to rise globally. The increasing demand for high-performance seals across automotive, aerospace & defense, power generation, oil & gas, and other industries, along with significant investment by prominent manufacturers is, expected to drive its market growth.
Reasons to Buy
Market Dynamics
Drivers
Restraints
Opportunities
Future Trends
Companies Mentioned
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New Director on The Board, Justin Klaudt
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Wilson & Company, Inc., Engineers & Architects has elected Justin Klaudt, PE, ENV SP as a new Director on the Board. Klaudt has been with Wilson & Company for more than 24 years serving a variety of clients and leading the municipal services group. His experience paired with his dedication to Wilson & Company enables him to be a great fit on the Board of Directors. Klaudt’s three-term is effective January 1, 2022.
“Justin excels in developing great people and having a shared ownership with our clients and his teammates at Wilson & Company. I am excited to leverage his strengths in support of the board and the entire company.” said Jim Brady, PE, Wilson & Company’s President and Chief Executive Officer.
This growing company is flourishing into new horizons, onboarding passionate people to practice their craft, and accomplish great things. As Wilson & Company continues to expand, the Board of Directors goals are achieved. Justin Klaudt will consistently lead the company to carry on the growth vision and Multi-Horizon Growth Plan.
Meet Wilson & Company’s Board of Directors and learn more about the leadership of Wilson & Company.
About Wilson & Company, Inc., Engineers & Architects
Wilson & Company is a comprehensive solution for multi-disciplinary engineering, architecture, surveying and mapping, planning, and construction management needs. Founded in 1932, the company has provided a variety of services to a diverse client base including federal and municipal governments, public transportation agencies, railroad companies, industrial and commercial corporations, and private developers. Wilson & Company employs a staff of over 500 and is located in 15 offices in 9 states. The distinguishing characteristic that defines Wilson & Company’s culture is Higher Relationships. This is a genuine offer made to every employee and to every client and community we serve to build exceptional relationships with discipline, intensity, collaboration, shared ownership, and solutions.
More at wilsonco.com | LinkedIn | Facebook | Twitter
Todd Riddle
Communications and Creative Services Manager
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DUBLIN--(BUSINESS WIRE)--The "On Demand Product - 2022 Russia Natural Gas Map Analyst Edition (Terrain)" map has been added to ResearchAndMarkets.com's offering.
The map represents the latest status and the whole picture of Russia's natural gas system (fields, pipelines, critical transfer points, underground gas storages, LNG facilities, and gasified regions etc);
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NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today announced startup of production from the Liza Phase 2 development on the Stabroek Block offshore Guyana, utilizing the Liza Unity floating production, storage and offloading (FPSO) vessel. The Liza Unity is expected to reach its production capacity of 220,000 gross barrels of oil per day later this year as operations are safely brought online.
The Liza Unity arrived in Guyana in October 2021, following construction in shipyards in China and Singapore. It is moored in water depth of about 1,650 meters and will be able to store approximately 2 million barrels of crude oil. The Liza Unity is the world’s first FPSO to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping (ABS) in recognition of the sustainability of its design, documentation and operational procedures.
“We are proud to be a partner in the successful development of this world class oil resource and congratulate ExxonMobil as operator for outstanding project execution,” CEO John Hess said. “We look forward to continuing to work with the Government and the people of Guyana to realize the remarkable potential of the Stabroek Block for the benefit for all stakeholders. The world will need these low cost oil resources to meet future energy demand and help ensure an affordable, just and secure energy transition.”
The Liza Phase 1 development, utilizing the Liza Destiny FPSO, began production in December 2019 and this year its production capacity is expected to increase to more than 140,000 gross barrels of oil per day following production optimization work. The third development on the block at the Payara Field, utilizing the Prosperity FPSO, is on track for production startup in 2024 with a production capacity of approximately 220,000 gross barrels of oil per day. The field development plan and application for environmental authorization have been submitted for government and regulatory review for the fourth development at Yellowtail, with a production capacity of approximately 250,000 gross barrels of oil per day and startup expected in 2025.
At least six FPSOs with a production capacity of more than 1 million gross barrels of oil per day are expected to be online on the Stabroek Block in 2027, with the potential for up to 10 FPSOs to develop the gross discovered recoverable resources currently estimated at more than 10 billion barrels of oil equivalent.
The Stabroek Block is 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.
Cautionary Statements
This news release contains “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. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation, the expected number, timing and completion of our development projects and estimates of capital and operating costs for these projects; estimates of our crude oil and natural gas resources and levels of production; and our future financial and operational results. Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices or demand for crude oil, NGLs and natural gas, including due to COVID-19, competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions, and in achieving expected production levels; changes in laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring as well as fracking bans; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures which we may not control and exposure to decommissioning liabilities for divested assets in the event the current or future owners are unable to perform; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; potential disruption or interruption of our operations due to catastrophic events, including COVID-19 or climate change; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the oil and gas disclosures in Hess Corporation’s Form 10-K, File No. 1-1204, available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our website at www.hess.com. You can also obtain this form from the SEC on the EDGAR system.
Investor Contact:
Jay Wilson
(212) 536-8940
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Media Contact:
Lorrie Hecker
(212) 536-8250
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DUBLIN--(BUSINESS WIRE)--The "On Demand Product: 2022 Asia Pacific LNG Map Analyst Edition" map has been added to ResearchAndMarkets.com's offering.
The map represents the latest status and project type (land-based or offshore) of 34+ LNG plants and 196+ Import Terminals in Asia (the exact project number is subject to the date your map is tailor-made).
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Energy Vault to begin trading on the New York Stock Exchange on February 14, 2022 under the ticker symbols NRGV and NRGV WS
Transaction proceeds coupled with recent $107 million Series C and announced Korea Zinc and Atlas Renewable agreements provide capital above business plan needs
INDIANAPOLIS & LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Novus Capital Corporation II (NYSE: NXU, NXU WS and NXU.U) (“Novus”) today announced the completion of its business combination with Energy Vault, Inc. (“Energy Vault”), the company developing sustainable, grid-scale energy storage solutions.
In connection with the completion of the business combination, Novus has been renamed Energy Vault Holdings, Inc. (the “Company”) and its common stock and warrants are expected to commence trading on the New York Stock Exchange on Monday, February 14, 2022 under the ticker symbols “NRGV” and “NRGV WS” respectively.
“We are tremendously excited to have completed this business combination with Energy Vault as they bring their proprietary energy storage solution to scale,” said Robert Laikin, Chief Executive Officer of Novus. “Rob Piconi and his team have built an incredible platform to help drive a more sustainable tomorrow through decarbonization. We are thrilled to help enable and accelerate their time to market through the capital raised from this transaction. We look forward to working with Mr. Piconi and his team over the years.”
“Our recent capital raises and strategic growth agreements more than fully funds our business and allows us to be laser focused on executing our global growth plan, and to us that means executing for customers” said Robert Piconi, Co-Founder and Chief Executive Officer of Energy Vault. “As a public company with a strong balance sheet, we are well positioned to globally scale our energy management and storage solutions toward our core mission of sustainable decarbonization.”
Company Overview
Energy Vault develops sustainable, grid-scale energy storage solutions designed to advance the transition to a carbon free, resilient power grid. Energy Vault’s mission is to accelerate the decarbonization of our economy through the development of sustainable and economical energy storage technologies. To achieve this, Energy Vault is developing a proprietary gravity-based energy storage technology. Energy Vault is also designing proprietary energy management software based on artificial intelligence (AI), advanced optimization algorithms designed to control and optimize entire energy systems and a flexible energy storage integration platform suitable for storage technologies of many durations. Energy Vault’s product platform aims to help utilities, independent power producers, and large energy users significantly reduce their levelized cost of energy while maintaining power reliability.
Energy Vault’s gravity-based solutions are based on the well-understood physics and mechanical engineering fundamentals of pumped hydroelectric energy storage, but replace water with custom-made composite blocks, or “mobile masses”, that can be made from low-cost and locally sourced materials, including local soil, mine tailings, coal combustion residuals (coal ash), and end-of-life decommissioned wind turbine blades.
Additionally, the Energy Vault systems are intended to minimize environmental and supply chain risks. The systems are automated with advanced computer control and machine vision software that orchestrate the charging and discharging cycles while meeting a broad set of storage durations starting from 2 hours and continuing to 12 hours, or more.
Following investment and energy storage collaboration announcements in 2021 from industry leaders Saudi Aramco Energy Ventures and Enel Green Power, including joint development for the remediation and beneficial reuse of waste wind blade fiberglass with Enel, Energy Vault continued its global commercial progress and market strategy with:
Transaction Overview
As a result of this transaction, the Company has received approximately $235 million of gross proceeds, including $195 million from a common stock PIPE anchored by strategic partners Korea Zinc and Atlas Renewable and institutional investors, including funds and accounts managed by Adage Capital Partners LP, Pickering Energy Partners, Sailingstone Capital Energy Transition Strategy Fund, SoftBank Investment Advisers, Cemex Ventures (NYSE: CX), Palantir Technologies Inc., (NYSE: PLTR) and other investors.
Advisors
Goldman Sachs served as the lead placement agent along with Cowen and Company LLC and Guggenheim Securities, LLC in the PIPE transaction. Guggenheim Securities, LLC, Goldman Sachs and Stifel served as financial advisors to Energy Vault. Cowen and Company LLC is serving as lead capital markets advisor and sole financial advisor to Novus. Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP served as legal advisor to Energy Vault. BlankRome LLP served as legal advisor to Novus.
About Energy Vault
Energy Vault develops sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage for grid resiliency. The company’s proprietary, gravity-based Energy Storage Technology and the Energy Storage Management and Integration Platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers.
About Novus Capital Corporation II
Novus is a special purpose acquisition company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities and its securities are listed on the NYSE under the ticker symbols “NYSE: NXU, NXU.U, NXU WS.”. Novus Capital is led by Robert J. Laikin, Jeff Foster, Hersch Klaff, Larry Paulson, Heather Goodman, Ron Sznaider and Vince Donargo, who have significant hands-on experience helping high-tech companies optimize their existing and new growth initiatives by exploiting insights from rich data assets and intellectual property that already exist within most high-tech companies.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “designed,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the benefits of the proposed business combination, the competitive environment, and the expected future performance (including future revenue, pro forma enterprise value, and cash balance) and market opportunities of Energy Vault.
These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Energy Vault and Novus.
These forward-looking statements are subject to a number of risks and uncertainties, including failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of the projected financial information with respect to Energy Vault; the risk that the business combination disrupts current plans and operations of Energy Vault as a result of the consummation of the business combination; costs related to the business combination; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; risks related to the rollout of Energy Vault’s business and the timing of expected business milestones; risks related to the inability or unwillingness of Energy Vault’s customers to perform under sales agreements; risks related to the performance and availability of EVS; demand for renewable energy; ability to commercialize and sell its solution; ability to negotiate definitive contractual arrangements with potential customers; the impact of competitive technologies; ability to obtain sufficient supply of materials; unanticipated costs; the impact of Covid-19; global economic conditions; ability to meet installation schedules; construction and permitting delays and related increases in costs; the effects of competition on the Company’s future business; and those factors discussed in the Registration Statement and in the Company’s Registration Statement on Form S-4 relating to the business combination under the caption “Risk Factors”, and its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 under the heading “Risk Factors,” and other documents of the Company filed, or to be filed, with the SEC.
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DUBLIN--(BUSINESS WIRE)--The "On-Demand Product: 2022 China Crude Oil Pipeline Map Analyst Edition" map has been added to ResearchAndMarkets.com's offering
The map represents the latest status and project type of 1082+ Crude Oil Pipelines (the exact project number is subject to the date your map is tailor-made).
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Shandong Province's Crude Oil Pipeline Network and Oil Refineries.
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) will issue a press release reporting its fourth quarter and full year 2021 results on Monday, February 21, 2022, after the close of business. The press release and associated slide presentation will be available on Helix's website, www.HelixESG.com.
Helix will review its fourth quarter and full year 2021 results on Tuesday, February 22, 2022, at 9:00 a.m. Central Time via a live webcast and teleconference. The live webcast will be available on our website under "For the Investor." Investors and other interested parties wishing to dial in to the teleconference may join by dialing 1-800-748-8543 for participants in the United States or 1-212-231-2912 for international participants. The passcode is "Staffeldt." A replay of the webcast will be available on our website under "For the Investor" by selecting the "Audio Archives" link beginning approximately two hours after the completion of the event.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit our website at www.HelixESG.com.
Erik Staffeldt - Executive Vice President and Chief Financial Officer
Ph: 281-618-0465
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DUBLIN--(BUSINESS WIRE)--The "On-Demand Product: 2022 China Oil Fields Map Analyst Edition" map has been added to ResearchAndMarkets.com's offering.
The map introduces the latest status of 1104+ oil fields, key blocks and oil-bearing structures in China (the exact project number is subject to the date your map is tailor-made);
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Enters into Cooperation Agreement with Ancora
CARNEGIE, Pa.--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) (“Ampco-Pittsburgh” or the “Corporation”) today announced that it has appointed three independent directors to its Board of Directors (the “Board”), two of whom were appointed in connection with an agreement with Ancora Holdings Group, LLC (together with its affiliates, “Ancora”), a shareholder which currently owns approximately 5.6% of the Corporation’s outstanding shares. Frederick D. DiSanto and Darrell L. McNair will join the Board as members of the class of directors to be elected at the 2023 Annual Meeting of the Corporation’s shareholders, effective immediately pursuant to a Cooperation Agreement entered into between Ampco-Pittsburgh and Ancora. Laurence E. Paul will also join the Board as a member of the class of directors to be elected at the 2022 Annual Meeting of the Corporation’s shareholders, effective immediately. Dr. Paul is expected to be nominated for election at the Corporation’s 2022 Annual Meeting of Shareholders (the “2022 Annual Meeting”).
“We are exceptionally pleased to welcome this group of directors to the Ampco-Pittsburgh Board at this important time for the Corporation,” said Jim Abel, Chairman of the Board. “With these appointments, our Board reflects our strong commitment to executing on our strategic plan while providing for a diversity of views on our Board. The constructive engagement between management and Ancora during the last few months will benefit the long-term interests of our shareholders and our other stakeholders.”
Fred DiSanto, Chairman and Chief Executive Officer of Ancora, said, “We are pleased to have worked constructively with the Board and management team to reach this agreement to bring additional perspectives to the Board, which we believe will help enhance value for shareholders. We appreciate the thoughtful dialogue with Jim Abel, J. Brett McBrayer and the Board as we worked together to ensure Ampco-Pittsburgh is best positioned to execute on its strategic plan for the future.”
Pursuant to the agreement, Ancora has agreed to not make director nominations to the Corporation and to support the Board’s full slate of directors at the 2022 Annual Meeting of the Corporation’s shareholders. In addition, Ancora has agreed to customary standstill, voting and other provisions. The complete agreement will be filed on Form 8-K with the U.S. Securities and Exchange Commission.
About Frederick D. DiSanto
FREDRICK D. DISANTO (age 59, Class of 2023). Mr. DiSanto is the Chairman and Chief Executive Officer of The Ancora Group, a holding company that oversees three investment advisors, and has served in such capacities since 2014 and 2006, respectively. Mr. DiSanto was the President and Chief Operating Officer of Maxus Investment Group from 1998 until December of 2000. In 2001, after Maxus Investment Group was sold to Fifth Third Bank, Mr. DiSanto served as Executive Vice President and Manager of Fifth Third Bank’s Investment Advisor Division. Mr. DiSanto has served since 2016 as a director of The Eastern Company, a company that manages industrial businesses that design, manufacture and sell unique engineered solutions to niche markets, and is Chairman of the Audit Committee and a member of its Nominating and Corporate Governance Committee. He also currently serves as a director for Regional Brands, Inc., a privately held holding company seeking to acquire substantial ownership in regional companies with strong brand recognition, stable revenues and profitability, and Alithya Group Inc., a North American leader in strategy and digital transformation. Mr. DiSanto previously served on the respective Boards of Directors of Axia Net Media Corporation and LNB Bancorp, Inc. Mr. DiSanto holds a B.S. in Management Science and an MBA from Case Western Reserve University.
About Darrell L. McNair
DARRELL L. MCNAIR (age 59, Class of 2023) Mr. McNair is currently the President and Chief Executive Officer of the MVP Group of Companies, a privately held group of companies which provide injection molding services, mechanical design engineering services and distribution of foam products to the automotive, medical, industrial, recreational industries and all five branches of the military, since 2000. Previously, Mr. McNair was Executive Director and a member of the board of directors of Detroit Neighborhood & Family Initiative, a non-profit organization sponsored by the Ford Foundation & Southeast Foundation serving various communities in the Detroit area, from 1999 to 2000; Owner & Chief Executive Officer for GERIC Home Health Care, Inc., a home health care organization serving residents in southeast Michigan, from 1996 to 1999; and held various positions at the Ford Motor Company (NYSE: F), an automotive company that designs, manufactures, and markets Ford vehicles worldwide, from 1988 to 1996. Mr. McNair is also currently a member of the board of directors of Medical Mutual of Ohio, the largest health insurance company based in Cleveland, Ohio, since May 2020. In addition, Mr. McNair is currently a board member, trustee and counsel to a number of civic and community organizations, including the Cleveland/Cuyahoga County Port Authority, The President’s Council, the Minority Business Financing Advisory Board, University Hospital, Northeast Ohio Medical University, ECM Chemicals, the Greater Cleveland Sports Commission, Crain’s Business Diversity Council, the Cleveland Federal Reserve Local Advisory Council and Jumpstart. Mr. McNair received his M.B.A. in finance and marketing from Baldwin Wallace University and his B.G.S. in political science from Kent State University.
About Laurence E. Paul
LAURENCE E. PAUL (age 57, previously a Director 1998-2018, Class of 2022). Dr. Paul has been a managing principal of Laurel Crown Partners, a private investment company, for more than five years and prior to that was an investment banker for ten years. He became a President of The Louis Berkman Investment Company, a private investment company, in 2013. Dr. Paul holds an A.B. in biology from Harvard College, an M.D. from Harvard Medical School and an MBA from Stanford Business School. Dr. Paul is the brother of the Corporation’s incumbent director Stephen E. Paul.
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.
About Ancora Holdings, Inc.
Ancora Holdings, Inc. is an employee owned, Cleveland, Ohio based holding company which wholly owns four separate and distinct SEC Registered Investment Advisers and a broker dealer. Ancora Advisors LLC specializes in customized portfolio management for individual investors, high net worth investors, investment companies (mutual funds), and institutions such as pension/profit sharing plans, corporations, charitable & “Not-for Profit” organizations, and unions. Ancora Family Wealth Advisors, LLC is a leading, regional investment and wealth advisor managing assets on behalf families and high net-worth individuals. Ancora Alternatives LLC specializes in pooled investments (hedge funds/investment limited partnerships). Ancora Retirement Plan Advisors, Inc. specializes in providing non-discretionary investment guidance for small and midsize employer sponsored retirement plans. Inverness Securities, LLC is a FINRA registered Broker Dealer.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on behalf of Ampco-Pittsburgh Corporation (the “Corporation”). This press release may include, but is not limited to, statements about operating performance, trends, events that the Corporation expects or anticipates will occur in the future, statements about sales and production levels, restructurings, the impact from global pandemics (including COVID-19), profitability and anticipated expenses, future proceeds from the exercise of outstanding warrants, and cash outflows. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Act and words such as “may,” “will,” “intend,” “believe,” “expect,” “anticipate,” “estimate,” “project,” “forecast” and other terms of similar meaning that indicate future events and trends are also generally intended to identify forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made, are not guarantees of future performance or expectations, and involve risks and uncertainties. For the Corporation, these risks and uncertainties include, but are not limited to: cyclical demand for products and economic downturns; excess global capacity in the steel industry; fluctuations of the value of the U.S. dollar relative to other currencies; increases in commodity prices or shortages of key production materials; consequences of global pandemics (including COVID-19); changes in the existing regulatory environment; new trade restrictions and regulatory burdens associated with “Brexit”; inability of the Corporation to successfully restructure its operations; limitations in availability of capital to fund the Corporation’s operations and strategic plan; inoperability of certain equipment on which the Corporation relies; work stoppage or another industrial action on the part of any of the Corporation’s unions; liability of the Corporation’s subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of those subsidiaries; inability to satisfy the continued listing requirements of the New York Stock Exchange or NYSE American; failure to maintain an effective system of internal control; potential attacks on information technology infrastructure and other cyber-based business disruptions; and those discussed more fully elsewhere in this report and in documents filed with the Securities and Exchange Commission by the Corporation, particularly in Item 1A, Risk Factors, in Part I of the Corporation’s latest Annual Report on Form 10-K. The Corporation cannot guarantee any future results, levels of activity, performance or achievements. In addition, there may be events in the future that the Corporation may not be able to predict accurately or control which may cause actual results to differ materially from expectations expressed or implied by forward-looking statements. Except as required by applicable law, the Corporation assumes no obligation, and disclaims any obligation, to update forward-looking statements whether as a result of new information, events or otherwise.
Additional Information and Where to Find It
In connection with the forthcoming solicitation of proxies from shareholders in respect of the Corporation’s 2022 Annual Meeting of Shareholders, the Corporation will file with the U.S. Securities and Exchange Commission (the “SEC”) a proxy statement on Schedule 14A (the “proxy statement”), containing a form of proxy card. Details concerning the nominees for the Class of 2025 of the Board of Directors of the Corporation for election at the Corporation’s 2022 Annual Meeting of Shareholders will be included in the proxy statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS, INCLUDING THE CORPORATION’S PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO AND ACCOMPANYING PROXY CARD, FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN, OR WILL CONTAIN, IMPORTANT INFORMATION ABOUT THE CORPORATION. Shareholders may obtain free copies of the proxy statement and other relevant documents that the Corporation files with the SEC on the Corporation’s website at ampcopgh.com/investors or from the SEC’s website at www.sec.gov.
Participants in the Solicitation
Ampco-Pittsburgh, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the Corporation’s 2022 Annual Meeting of Shareholders. Information regarding certain of the directors and officers of Ampco-Pittsburgh is contained in its definitive proxy statement for the 2021 Annual Meeting of Shareholders which was filed with the SEC on March 26, 2021. To the extent holdings of the Corporation’s securities by directors or executive officers have changed since the amounts set forth in Ampco-Pittsburgh’s 2021 proxy statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the identity of potential participants and their respective interests, by security holdings or otherwise, will be included in Ampco-Pittsburgh’s proxy statement and other relevant documents filed with the SEC in connection with Ampco-Pittsburgh’s 2022 Annual Meeting of Shareholders.
Michael G. McAuley
Senior Vice President, Chief Financial Officer and Treasurer
(412) 429-2472
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