PG&E Has Pre-Positioned Crews to Restore Power Safely and as Quickly as Possible
SAN FRANCISCO--(BUSINESS WIRE)--With meteorologists forecasting an impactful storm system this Saturday and into next week in Northern and Central California, Pacific Gas and Electric Company (PG&E) has thousands of workers standing by to respond to potential widespread power outages.
In advance of the storm, PG&E vegetation-management crews are out today, working to keep trees away from powerlines during the forecasted wet and windy weather.
PG&E meteorologists, along with experts from the National Weather Service, forecast that the weather system is expected to begin across the north by Saturday afternoon and then spread east and south across our service area, delivering periods of gusty winds, widespread rain, heavy mountain snow and isolated thunderstorms. Most impacts of this stormy weather are likely to occur Sunday through Tuesday.
Rainfall totals with this system will be significant, with widespread totals of three to five inches of rain across the north, and rainfall equivalents of five to seven inches of rain likely across the northern Sierra. Significant snow in the Sierra above 5,000 feet is possible with multiple feet of accumulation in some locations. As the rain tracks southward through the storm’s progression, it will be joined by gusty winds, generally from the south, with expected widespread gusts of 30 to 40 miles per hour and localized gusts of at least 55 miles per hour possible in the higher terrain of PG&E’s service area.
“This strong storm has the potential to cause power outages due to significant rain, gusty winds and heavy snow in the mountains. We’re urging our customers to have a plan to keep themselves and their families safe. Our meteorology team is closely tracking the forecast and working with our crews in the field to ensure we’re ready to restore power safely and as quickly as possible,” said PG&E director of meteorology and fire science Scott Strenfel.
As seen with past storms, these wet and windy conditions might cause trees, limbs and other debris to fall into power lines, damage equipment and interrupt electric service. This remains a concern for this storm due to the drought-intensified conditions that weakened vegetation and could cause more trees to fall into our equipment and cause power outages.
PG&E’s meteorology team has developed a Storm Outage Prediction Model that incorporates real-time weather forecasts, historical data and system knowledge to accurately show where and when storm impacts will be most severe. This model enables the company to pre-stage crews and equipment as storms approach to enable rapid response to outages.
Workers are prepared to tackle restoration in challenging weather conditions and are supported by the utility’s geosciences team. Geosciences is monitoring potential post-wildfire debris flows from incoming rains which could impact PG&E’s equipment and vegetation around its equipment.
PG&E is also stockpiling power poles, power lines, transformers, and other electric equipment at yards throughout our service territory to restore power to impacted areas as quickly as possible.
We will also be activating local operations emergency centers throughout our service area in impacted regions to allocate all staff and resources to restoration efforts.
Keeping Customers Informed
PG&E knows how important it is to keep its customers informed. Customers can view real-time outage information on its website outage center and search by a specific address, by city or by county. This site has been updated to include in-language support for 16 languages.
Additionally, customers can sign up for outage notifications by text, email or phone. PG&E will let customers know the cause of an outage, when crews are on their way, the estimated restoration time, and when power is restored.
Storm Safety Tips
Other tips can be found at www.pge.com/beprepared.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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DUBLIN--(BUSINESS WIRE)--The "Biodiesel: 2021 World Market Outlook up to 2030 (with COVID-19 Impact Estimation)" report has been added to ResearchAndMarkets.com's offering.
The report is an essential resource for a one looking for detailed information on the world biodiesel market. The report covers data on global, regional and national markets including present and future trends for supply and demand, prices, and downstream industries.
In addition to the analytical part, the report provides a range of tables and figures which all together give a true insight into the national, regional and global markets for biodiesel.
Report Scope
Reasons to Buy
Key Topics Covered:
1. INTRODUCTION: BIODIESEL PROPERTIES AND USES
2. BIODIESEL MANUFACTURING PROCESSES
3. BIODIESEL WORLD MARKET IN 2015-2020
3.1. World biodiesel capacity
3.2. World biodiesel production
3.3. Biodiesel consumption
3.4. Biodiesel global trade
3.5. Biodiesel prices
4. BIODIESEL EUROPEAN MARKET ANALYSIS
5. BIODIESEL ASIA PACIFIC MARKET ANALYSIS
6. BIODIESEL NORTH AMERICAN MARKET ANALYSIS
7. BIODIESEL LATIN AMERICAN MARKET ANALYSIS
8. BIODIESEL MIDDLE EAST & AFRICA MARKET ANALYSIS
9. BIODIESEL GLOBAL MARKET FORECAST
9.1. Biodiesel capacity and production forecast up to 2030
9.2. Biodiesel consumption forecast up to 2030
9.3. Biodiesel prices forecast up to 2030
10. KEY COMPANIES IN THE BIODIESEL MARKET WORLDWIDE
11. BIODIESEL END-USE SECTOR
For more information about this report visit https://www.researchandmarkets.com/r/1wa3se
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Cryogenic Insulation Market Research Report by Type, Cryogenic Equipment, Form, End-use, and Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Cryogenic Insulation Market size was estimated at USD 2,815.50 million in 2020, is expected to reach USD 3,052.61 million in 2021, and projected to grow at a CAGR of 8.76% reaching USD 4,659.85 million by 2026.
Competitive Strategic Window
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Cryogenic Insulation Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Cryogenic Insulation Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Cryogenic Insulation Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Cryogenic Insulation Market?
4. What is the competitive strategic window for opportunities in the Global Cryogenic Insulation Market?
5. What are the technology trends and regulatory frameworks in the Global Cryogenic Insulation Market?
6. What is the market share of the leading vendors in the Global Cryogenic Insulation Market?
7. What modes and strategic moves are considered suitable for entering the Global Cryogenic Insulation Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/vb194t
ResearchAndMarkets.com
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CALGARY, Alberta--(BUSINESS WIRE)--8Sigma Energy Services Incorporated (“8Sigma” or “the Company”), a leader in multi-stage hydraulic fracturing technologies, today announced it has closed $6 million in growth financing.
“The upstream industry has realized that technological innovation is key to meeting reduced emissions, improved production and ROIs through interventionless fracturing technologies and improved plug-and-perf techniques. 8Sigma is proud to be playing a leading role in the future of multi-stage stimulation and this financing will allow us to continue to roll out our technologies throughout North America and the world,” said 8Sigma’s CEO, Blake Wood.
8Sigma is leading a major shift in the multi-stage hydraulic fracturing (MSHF) industry towards interventionless fracturing technologies with the Samurai™ and infintyFracX™ product lines which have been run onshore and offshore in the North Sea, Europe, China, Alaska and the United States of America. The Samurai™ and infinityFracX™ MSHF technologies allow energy companies to dramatically increase efficiencies during the fracturing process while also reducing operational complexity throughout the life cycle of the well. Increased efficiency not only lowers costs but also reduces greenhouse gas emissions emitted during the fracturing process.
8Sigma’s infinityFracX™, Samurai™ and Guardian™ Frac Plug deployments have led to over 900% in year-over-year Sales growth in 2021 as more operators realize the financial and ESG value of these technologies.
Results from a recent four well Samurai™ Interventionless Plug-and-Perf deployment delivered a 54% reduction in the time required to stimulate the wells while also dramatically lowering the cost of services and equipment before including the saved costs from reduced pumping times.
Along with this investment, 8Sigma announced that a Worldwide technology partnership has been entered into with NOV Inc., a leading worldwide provider of equipment and components used in oil and gas drilling and production operations. This partnership will provide worldwide customers to access 8Sigma technology while allowing 8Sigma to focus on the North American market.
“As we scale to meet Guardian™ and Voodoo™ Frac Plug demand in North America, we’re excited to have a strong strategic worldwide partner in NOV, a forward-thinking manufacturer and service company. We believe the caliber of our customers and investors demonstrates the market opportunity before us,” Blake added.
About 8Sigma
8Sigma Energy Services Incorporated (“8Sigma”) is a global leader in multistage hydraulic fracturing technologies. For more information: www.8sigmaes.com
For media enquiries or interviews:
Julie Anderson | This email address is being protected from spambots. You need JavaScript enabled to view it. | 310-513-3890
BUFFALO, N.Y.--(BUSINESS WIRE)--$ROCK #ROCK--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, today announced that President and Chief Executive Officer Bill Bosway and Chief Financial Officer Tim Murphy are scheduled to present at the Seaport Global Energy & Industrials: Transformation & Sustainability Conference, on Tuesday, December 14, 2021, at 11:00 a.m. ET, and hold meetings with investors that day.
The link to the live webcast of the Company’s presentation will be available by visiting Gibraltar’s website at https://ir.gibraltar1.com/reports-presentations.
About Gibraltar
Gibraltar Industries is a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets. With a three-pillar strategy focused on business systems, portfolio management, and organization and talent development, Gibraltar’s mission is to create compounding and sustainable value with strong leadership positions in higher growth, profitable end markets. Gibraltar serves customers primarily throughout North America. Comprehensive information about Gibraltar can be found on its website at www.gibraltar1.com.
LHA Investor Relations
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HAMILTON, Bermuda--(BUSINESS WIRE)--ST Energy Transition I Ltd. (the “Company”) announced today that further to its recently completed initial public offering of 25,000,000 Stakeholder Aligned Initial Listing, or SAILSM, security, at a price of $10.00 per SAILSM security, the over-allotment option granted by the Company to the underwriters to purchase an additional 3,750,000 SAILSM securities from the Company at a price of $10.00 per SAILSM security, or the Over-Allotment Option, was exercised in full. The Company received aggregate gross proceeds of $37,500,000 in connection with the Over-Allotment Option, which closed today. As a result of the exercise of the Over-Allotment Option in full, the aggregate gross proceeds from the Offering will total $287,500,000.
The SAILSM securities are listed on the New York Stock Exchange and began trading under the ticker symbol “STET.U” on December 3, 2021.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a target in any industry or geographic location, it intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology.
The Company’s board is led by John Fredriksen, chairperson, and includes independent directors Ole-Eirik Lerøy, Cato Stonex, James O’Shaughnessy, Tore Myrholt and Annika Sigfrid. Gunnar Eliassen is the Chief Executive Officer of the Company and Jan Erik Klepsland is the Chief Financial Officer of the Company.
Each SAILSM security consists of one Class A share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A share at a price of $11.50 per share. Once the securities constituting the SAILSM securities begin separate trading, the Class A shares and warrants will be listed on the New York Stock Exchange under the symbols “STET” and “STETWS,” respectively.
Morgan Stanley acted as sole bookrunning manager and joint lead manager and DNB Markets acted as joint lead manager in the offering.
The initial public offering was made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website (http://www.sec.gov), and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 or by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it..
A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on December 2, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these 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.
Cautionary note regarding forward-looking statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media:
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Disciplined Capital Allocation; Focus on Lower-Carbon Opportunities
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced its 2022 capital program of $1.9 billion. The plan includes $992 million for sustaining capital and $916 million for growth capital. Approximately 45% of growth capital supports lower-carbon opportunities.
“The 2022 capital program demonstrates our commitment to disciplined capital allocation,” said Greg Garland, Chairman and CEO of Phillips 66. “Our plan for sustaining capital reflects our ongoing focus on operating excellence to ensure the safety and reliability of our operations. We are also investing in returns-focused growth opportunities, including projects that will help us advance a lower-carbon future. In addition to a disciplined capital program, we will continue to prioritize debt reduction and returns to shareholders.”
The Midstream capital plan of $703 million, which includes Phillips 66 Partners, comprises $426 million for growth projects and $277 million for sustaining projects. Growth capital will be directed toward completing construction of Sweeny Frac 4 and repayment of our 25% share of the Bakken Pipeline joint venture’s debt due in 2022. Midstream growth capital also includes Emerging Energy opportunities to advance the company’s lower-carbon efforts.
In Refining, Phillips 66 plans to invest $896 million, with $488 million for reliability, safety and environmental projects. Refining growth capital of $408 million is primarily for the reconfiguration of the San Francisco Refinery in Rodeo, California, as part of the Rodeo Renewed project. Upon expected completion in early 2024, the facility will initially have over 50,000 barrels per day, or 800 million gallons per year, of renewable fuel production capacity, making it one of the world’s largest facilities of its kind. The conversion will reduce emissions from the facility and produce lower-carbon transportation fuels. Refining growth capital will also support opportunities for high-return, low-capital projects.
The Marketing and Specialties capital plan reflects the continued development and enhancement of the company’s retail network, including energy transition opportunities.
Corporate and Other capital will primarily fund digital transformation projects.
Phillips 66’s proportionate share of capital spending by joint ventures Chevron Phillips Chemical Company LLC (CPChem), WRB Refining LP (WRB) and DCP Midstream, LLC (DCP Midstream) is expected to total $1.1 billion and to be self-funded.
CPChem’s growth capital will fund expansion of its normal alpha olefins production, optimization and debottleneck opportunities in the olefins and polyolefins chains, as well as continuing development of world-scale petrochemicals projects in the U.S. Gulf Coast and Qatar.
WRB’s capital spending will be directed to sustaining projects, crude flexibility and enhancing clean product yield.
Including Phillips 66’s proportionate share of capital spending for these large ventures, the company’s total 2022 capital program is projected to be $3.0 billion.
Millions of Dollars |
|||||||
Sustaining |
|
Growth |
|
Capital |
|||
Capital |
|
Capital |
|
Program |
|||
Capital Program |
|
||||||
Midstream1 |
$ |
277 |
426 |
703 |
|||
Chemicals |
- |
- |
- |
||||
Refining2 |
488 |
408 |
896 |
||||
Marketing and Specialties |
62 |
82 |
144 |
||||
Corporate and Other2 |
|
|
165 |
|
- |
|
165 |
Phillips 66 Consolidated |
|
|
992 |
|
916 |
|
1,908 |
|
|||||||
DCP Midstream |
65 |
63 |
128 |
||||
CPChem |
215 |
502 |
717 |
||||
WRB |
|
|
109 |
|
111 |
|
220 |
Selected Equity Affiliates |
|
|
389 |
|
676 |
|
1,065 |
|
|||||||
Total Capital Program |
|
$ |
1,381 |
|
1,592 |
|
2,973 |
1) Includes $2 million of capital expected to be cash funded by joint venture partners. |
|||||||
2) Excludes non-cash finance leases of $13 million in Refining and $9 million in Corporate and Other. |
|||||||
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,100 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Sept. 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains certain 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, which are intended to be covered by the safe harbors created thereby. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the continuing effects of the COVID-19 pandemic and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our Midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; the inability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities, expropriation of assets, and other political, economic or diplomatic developments, including those caused by public health issues and international monetary conditions and exchange controls; changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels pricing, regulation or taxation, including exports; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; the impact of adverse market conditions or other similar risks to those identified herein affecting Phillips 66 Partners, and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Use of Non-GAAP Financial Information — The disaggregation of capital spending between sustaining and growth is not a distinction recognized under generally accepted accounting principles in the United States. The company provides such disaggregated information to demonstrate management’s return expectations with respect to capital spending.
Jeff Dietert (investors)
832-765-2297
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SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) received an A- from CDP for its 2021 climate disclosure, securing a top score at CDP’s Leadership Level for the third year in a row. Once again, CRC received the highest ranking among all U.S. oil and gas companies, tying for first with one other U.S.-based E&P with global operations. Scoring at CDP’s Leadership Level for three years in a row further highlights CRC’s value as a differentiated and dependable low carbon intensity E&P producer in California.
Mac McFarland, CRC’s President and CEO, stated, “We are extremely pleased with CDP’s ranking of our 2021 climate disclosure. Achieving a leadership level ranking for three years in a row validates CRC’s consistent approach to Environmental, Social and Governance (ESG) matters, as well as our emphasis on fostering a culture of safety and transparency. We remain focused on safely, responsibly and sustainably meeting California’s energy demand today, and leveraging our position to contribute to decarbonizing California in the future.”
Chris Gould, EVP and Chief Sustainability Officer, continued, “Our recently announced 2045 Full-Scope Net Zero Goal and 2030 Sustainability Goals, as well as the carbon management opportunities within our portfolio, are strategic differentiators among global and North American energy producers. We are committed to advancing our carbon capture and storage, and solar projects to help California achieve its leading climate ambitions and energy transition efforts.”
CDP is an international non-profit that developed a robust global evaluation and scoring system to assess the world’s companies on their environmental transparency and performance. CDP scoring measures the comprehensiveness of disclosure, awareness and management of environmental risks, and best practices associated with environmental leadership, such as setting ambitious and meaningful targets. The complete list of ratings of companies from around the world can be found at www.cdp.net/en/companies/companies-scores.
For more information about ESG at CRC, please visit our Sustainability page at www.crc.com/ESG.
About CDP
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.
About California Resources Corporation (CRC)
California Resources Corporation (CRC) is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing carbon capture and storage (CCS) and other emissions reducing projects.
Joanna Park
Investor Relations
818-661-3731
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DUBLIN--(BUSINESS WIRE)--The "Global Gear Manufacturing Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the gear manufacturing market and it is poised to grow by $73.66 billion during 2021-2025, progressing at a CAGR of 5.73% during the forecast period.
The report on the gear manufacturing 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 the adoption of industrial automation and growing investments in renewable energy.
The gear manufacturing market analysis includes product and end-user segments and geographic landscape. This study identifies the resurgence of investments in the oil and gas sector as one of the prime reasons driving the gear manufacturing market growth during the next few years.
Companies Mentioned
The report on gear manufacturing 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 Product
6. Market Segmentation by End-user
7. Customer landscape
8. Geographic Landscape
9. Vendor Landscape
10. Vendor Analysis
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/nwhqyb
ResearchAndMarkets.com
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded three frame agreements by Petrobras (NYSE: PBR) that reaffirm the Company’s leadership position in Brazil’s flexible pipe market – the industry’s largest and most established market. Altogether, the frame agreements form a large(1) contract for TechnipFMC.
The contracts were awarded as part of Petrobras’s drive to increase oil recovery in its brownfield developments, mainly in post-salt fields offshore Brazil.
The frame agreements cover the manufacture of more than 500 kilometers of flexible pipe over the next four years, as well as services. This brings the Company’s total contracted volumes in the current year with Petrobras to around 600 kilometers.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “Petrobras is a longstanding partner of ours. Through collaboration and leveraging our expertise to engineer, design, and manufacture solutions specifically for this environment, we successfully delivered a flexible solution that maximizes oil recovery in the Brazilian deepwater environment.”
(1) For TechnipFMC, a “large” contract is between $500 million and $1 billion. A portion of this award will be inbound in future periods.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments - Subsea and Surface Technologies - we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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DUBLIN--(BUSINESS WIRE)--The "Global Specialty Fuel Additives Market" report has been added to ResearchAndMarkets.com's offering.
Specialty fuel additives are defined as chemical compounds which are formulated to improve both quality & efficiency of fuels. Various specialty fuel additives like antifreeze treatment chemicals, fuel antioxidants, and cold flow additives are most commonly used across end use industries.
Key operating players in the specialty fuel additives market are focusing on producing products which are formulated to protect & improve fuel quality in storage systems, during distribution and in transports.
The increase in consumption of fuel additives in the automotive industry is a key driving factor which is expected to drive the global specialty fuel additives market growth.
Through the automotive sector has witnessed its ups & downs, several characteristics regarding manufacturing technique and buyers demands have drastically changed during this forecast period. These additives facilitate unclogging of the blocked injectors, eliminate knocking, and provide other parameters of fuel safety & quality, are anticipated to boost the product demand across the automotive industry.
Also, the rise in levels of toxic emissions as a result of fuel used in vehicles has led to an adverse impact on environment which is expected to increase demand for specialty fuel additives across the globe. The increase in trends of additives in biodiesel blends in Europe, and North America to achieve efficient cold flow performance is anticipated to propel the growth of global specialty fuel additives market growth.
The increase in demand for alternate fuels is a major challenge faced by market which expected to hamper the global specialty fuel additive market growth during this forecast timeframe. Also, huge investments in research and development activities may limit the market growth.
Companies Mentioned
Key Questions Addressed by the Report
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Specialty Fuel Additives Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Specialty Fuel Additives Market, By Product
6 Global Specialty Fuel Additives Market, By Application
7 Global Specialty Fuel Additives Market, By Region
8 North America Specialty Fuel Additives Market Analysis and Forecast (2020 - 2027)
9 Europe Specialty Fuel Additives Market Analysis and Forecast (2020 - 2027)
10 Asia Pacific Specialty Fuel Additives Market Analysis and Forecast (2020 - 2027)
11 Latin America Specialty Fuel Additives Market Analysis and Forecast (2020 - 2027)
12 Middle East Specialty Fuel Additives Market Analysis and Forecast (2020 - 2027)
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/dvfw9w
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ALEXANDRIA, Va.--(BUSINESS WIRE)--VSE Corporation (NASDAQ: VSEC, "VSE", or the "Company"), a leading provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for land, sea and air transportation assets for government and commercial markets, today announced the appointment of Edward P. Dolanski to its Board of Directors, effective January 1, 2022. With the addition of Mr. Dolanski, VSE’s board will comprise nine members.
“Ed is an accomplished public company executive within the commercial aerospace, business and general aviation, and defense industries with extensive experience and a successful track record of guiding organizations through transformational growth,” stated General Ralph E. Eberhart, Chairman of VSE Corporation. “We are pleased to welcome him to the VSE Board.”
John Cuomo, CEO of VSE Corporation, added, “Ed is an industry expert with a wealth of commercial aftermarket aerospace as well as business and general aviation distribution and MRO experience. He has served in senior leadership roles at Boeing and Raytheon over a successful career spanning more than thirty years. While at Boeing, he served as President and Chief Executive Officer of Aviall, the world's largest provider of new aviation parts and aftermarket services. His experience managing global supply chains, corporate strategy and business development, together with his extensive, senior-level aviation and defense industry relationships, position Ed as a valuable addition to our board.”
Mr. Dolanski currently serves as the co-founder of First Watch Group, a management consulting firm. Previously, he served in a variety of senior leadership roles at Boeing, including President, U.S. Government Services for Boeing Global Services, the largest performance-based logistics contractor for the U.S. Department of Defense; President, Global Services & Support within Boeing’s Defense, Space & Security unit; and President and CEO of Aviall, a Boeing subsidiary. Before joining Boeing, Dolanski served at Raytheon Company as Vice President, mission support, Network Centric Systems; Vice President, Aftermarket Businesses and Customer Support, Raytheon Aircraft Company (Hawker & Beechcraft); and Chief Information Officer, Aircraft Integration Systems.
Dolanski is a member of the Catalyze Dallas Board of Advisors, Business Executives for National Security (BENS) and the Texas Blockchain Council Advisory Board. He has served as a member of the Texas Diversity Council board of directors where he has been recognized with several diversity awards, including DiversityFIRST and CEO Champions of Diversity. He attended Vanderbilt University Owen Graduate School and holds a bachelor’s degree from John Brown University.
ABOUT VSE CORPORATION
VSE is a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets for government and commercial markets. Core services include maintenance, repair and overhaul (MRO) services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services. For additional information regarding VSE’s services and products, visit us at www.vsecorp.com.
FORWARD LOOKING STATEMENTS
This document contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this document. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that actual results will not differ materially from these expectations. “Forward-looking” statements, as such term is defined by the Securities Exchange Commission (the “SEC”) in its rules, regulations and releases, represent our expectations or beliefs, including, but not limited to, statements concerning our operations, economic performance, financial condition, the impact of widespread health developments, such as the ongoing COVID-19 outbreak, the health and economic impact thereof, and the governmental, commercial, consumer and other responses thereto, growth and acquisition strategies, investments and future operational plans. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “forecast,” “seek,” “plan,” “predict,” “project,” “could,” “estimate,” “might,” “continue,” “seeking” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the uncertainty surrounding the ongoing COVID-19 outbreak and the other factors identified in our reports filed or expected to be filed with the SEC including our Annual Report on Form 10-K for the year ended December 31, 2020. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers are cautioned not to place undue reliance on these forward looking-statements, which reflect management's analysis only as of the date hereof. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INVESTOR
Noel Ryan
(720) 778-2415
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DUBLIN--(BUSINESS WIRE)--The "Uninterruptible Power Supply (UPS) Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Uninterruptible Power Supply (UPS) Systems estimated at US$10.5 Billion in the year 2020, is projected to reach a revised size of US$14.7 Billion by 2027, growing at a CAGR of 5% over the analysis period 2020-2027.
Up to 5 kVA, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$5.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the 5.1 to 20 kVA segment is readjusted to a revised 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 6% CAGR
The Uninterruptible Power Supply (UPS) Systems market in the U.S. is estimated at US$2.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2027 trailing a CAGR of 6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.
20.1 to 50 kVA Segment to Record 5.4% CAGR
In the global 20.1 to 50 kVA segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$984.2 Million in the year 2020 will reach a projected size of US$1.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2027, while Latin America will expand at a 6% CAGR through the analysis period.
Select Competitors (Total 164 Featured) -
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/rurter.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced that, based on preliminary data through the end of November 2021 and its assessment of global nitrogen market conditions, management currently expects the Company’s adjusted EBITDA(1)(2) for the full year 2021 to be between $2.65 billion and $2.85 billion.
This represents an increase from the expected range of $2.2 billion to $2.4 billion that CF Industries disclosed during its November 4, 2021 conference call in connection with the release of the Company’s nine month and third quarter 2021 results. The updated range reflects continued strong global nitrogen market conditions that have supported higher-than-expected realized pricing for products sold on an index basis. Additionally, management projects higher-than-expected sales volumes through year-end driven primarily by favorable weather that has enabled the strongest fall ammonia application season in North America over the last decade. Current projections are based on management’s expectations of market and operational conditions, all of which are subject to change.
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Adjusted EBITDA is a non-GAAP financial measure. Please see the discussion below under the heading “Note Regarding Non-GAAP Financial Measure” for more information. |
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Guidance is provided for adjusted EBITDA on a non-GAAP basis only, because information regarding various items necessary to determine net earnings attributable to common stockholders, the most directly comparable financial measure calculated and presented in accordance with GAAP, on a forward looking basis is unavailable due to the uncertainty and inherent difficulty of predicting the occurrence and the future financial statement impact of such items, including, but not limited to, unrealized net mark to market gain or loss on natural gas derivatives; gain or loss on foreign currency transactions, including intercompany loans; asset impairments; and certain non-ordinary course matters. Because of the uncertainty and variability of the nature and amount of such items, which could be significant, CF Industries is unable to provide a quantitative reconciliation of the differences between expected adjusted EBITDA for 2021 and the most directly comparable financial measure calculated and presented in accordance with GAAP without unreasonable efforts. The unavailable reconciling items could significantly affect CF Industries’ 2021 financial results. |
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
Note Regarding Non-GAAP Financial Measure
CF Industries reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). Adjusted EBITDA is a non-GAAP financial measure. Management uses adjusted EBITDA, and believes it is useful to investors, as a supplemental financial measure in the comparison of year-over-year performance. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, CF Industries’ financial measures prepared in accordance with GAAP. In addition, because not all companies use identical calculations, adjusted EBITDA as disclosed by CF Industries may not be comparable to similarly titled measures of other companies.
Adjusted EBITDA is defined as EBITDA adjusted to exclude unrealized net mark to market gain or loss on natural gas derivatives; gain or loss on foreign currency transactions, including intercompany loans; asset impairments; and loss on debt extinguishment. In addition to these adjustments, CF Industries excludes, when they occur, the impacts of certain non-ordinary course matters. EBITDA is defined as net (loss) earnings attributable to common stockholders plus interest expense—net, income taxes and depreciation and amortization, less other adjustments. Other adjustments include the elimination of loan fee amortization that is included in both interest and amortization, and the portion of depreciation that is included in noncontrolling interest.
Forward-Looking Statements
All statements in this communication by CF Industries Holdings, Inc. (together with its subsidiaries, the “Company”), other than those relating to historical facts, are forward-looking statements. Forward-looking statements can generally be identified by their use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” or “would” and similar terms and phrases, including references to assumptions. Forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. Forward-looking statements in this communication include statements about the Company’s expectations with respect to its adjusted EBITDA for 2021.
Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, the cyclical nature of the Company’s business and the impact of global supply and demand on the Company’s selling prices; the global commodity nature of the Company’s nitrogen products, the conditions in the international market for nitrogen products, and the intense global competition from other producers; conditions in the United States, Europe and other agricultural areas; the volatility of natural gas prices in North America and Europe; weather conditions; the seasonality of the fertilizer business; the impact of changing market conditions on the Company’s forward sales programs; difficulties in securing the supply and delivery of raw materials, increases in their costs or delays or interruptions in their delivery; reliance on third party providers of transportation services and equipment; risks associated with cyber security; the Company’s reliance on a limited number of key facilities; acts of terrorism and regulations to combat terrorism; risks associated with international operations; the significant risks and hazards involved in producing and handling the Company’s products against which the Company may not be fully insured; the Company’s ability to manage its indebtedness and any additional indebtedness that may be incurred; the Company’s ability to maintain compliance with covenants under its revolving credit agreement and the agreements governing its indebtedness; downgrades of the Company’s credit ratings; risks associated with changes in tax laws and disagreements with taxing authorities; risks involving derivatives and the effectiveness of the Company’s risk measurement and hedging activities; potential liabilities and expenditures related to environmental, health and safety laws and regulations and permitting requirements; regulatory restrictions and requirements related to greenhouse gas emissions; the development and growth of the market for green and blue (low-carbon) ammonia and the risks and uncertainties relating to the development and implementation of the Company’s green and blue (low-carbon) ammonia projects; risks associated with expansions of the Company’s business, including unanticipated adverse consequences and the significant resources that could be required; risks associated with the operation or management of the strategic venture with CHS (the “CHS Strategic Venture”), risks and uncertainties relating to the market prices of the fertilizer products that are the subject of the supply agreement with CHS over the life of the supply agreement, and the risk that any challenges related to the CHS Strategic Venture will harm the Company’s other business relationships; and the impact of the novel coronavirus disease 2019 (COVID-19) pandemic, including measures taken by governmental authorities to slow the spread of the virus, on the Company’s business and operations.
More detailed information about factors that may affect the Company’s performance and could cause actual results to differ materially from those in any forward-looking statements may be found in CF Industries Holdings, Inc.’s filings with the Securities and Exchange Commission, including CF Industries Holdings, Inc.’s most recent annual and quarterly reports on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the Company’s web site. It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of CF Industries Holdings, Inc.’s forward-looking statements and, consequently, its descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the events, plans or goals anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on the Company’s business, results of operations, cash flows, financial condition and future prospects. Forward-looking statements are given only as of the date of this communication and CF Industries Holdings, Inc. disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Media
Chris Close
Director, Corporate Communications
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Investors
Martin Jarosick
Vice President, Investor Relations
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DUBLIN--(BUSINESS WIRE)--The "Butadiene (BD): 2021 World Market Outlook up to 2030 (with COVID-19 Impact Estimation)" report has been added to ResearchAndMarkets.com's offering.
The report is an essential resource for a one looking for detailed information on the world butadiene market. The report covers data on global, regional and national markets including present and future trends for supply and demand, prices, and downstream industries.
In addition to the analytical part, the report provides a range of tables and figures which all together give a true insight into the national, regional and global markets for butadiene.
COVID-19 Impacts
Report Scope
Reasons to Buy
Key Topics Covered:
1. INTRODUCTION: BUTADIENE PROPERTIES AND USES
2. BUTADIENE MANUFACTURING PROCESSES
3. BUTADIENE WORLD MARKET IN 2015-2020
3.1. World butadiene capacity
3.2. World butadiene production
3.3. Butadiene consumption
3.4. Butadiene global trade
3.5. Butadiene prices
4. BUTADIENE EUROPEAN MARKET ANALYSIS
5. BUTADIENE ASIA PACIFIC MARKET ANALYSIS
6. BUTADIENE NORTH AMERICAN MARKET ANALYSIS
7. BUTADIENE LATIN AMERICAN MARKET ANALYSIS
8. BUTADIENE MIDDLE EAST & AFRICA MARKET ANALYSIS
9. BUTADIENE GLOBAL MARKET FORECAST
9.1. Butadiene capacity and production forecast up to 2030
9.2. Butadiene consumption forecast up to 2030
9.3. Butadiene prices forecast up to 2030
10. KEY COMPANIES IN THE BUTADIENE MARKET WORLDWIDE
11. BUTADIENE END-USE SECTOR
11.1. Consumption by application
11.2. Downstream markets review and forecast
For more information about this report visit https://www.researchandmarkets.com/r/q9ffik
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LIMASSOL, Cyprus--(BUSINESS WIRE)--Famatown Finance Limited (“Famatown”), a company indirectly controlled by trusts settled by Mr. John Fredriksen1 and a member of the Seatankers Group, today announced that it has accumulated through open market transactions approximately 5.0% of the common shares of Valaris Limited (NYSE: VAL) (“Valaris”) and has executed a support agreement with Valaris reflecting the Seatankers Group’s support of and commitment to the Company.
The Seatankers Group holds significant interests within industries such as shipping and energy, oil services and diversified industrials. These investments include, among others, a strategic ownership position in 14 publicly listed companies, of which five are U.S. listed with a combined enterprise value of approximately $45 billion. Supported by the Seatankers Group’s active involvement as a major shareholder, these companies have over the last ten years executed private and public transactions with a combined value of approximately $75 billion and created significant shareholder value.
The Seatankers Group’s investment philosophy is comprised of core tenets that include: (i) targeting industry leaders in their respective spaces, (ii) identifying advantageous timing for potential investments, (iii) executing such investments with a focus on shareholder returns, and (iv) providing long-term shareholder support, as applicable.
Following several years of headwinds, the Seatankers Group believes the offshore drilling industry is in the early stages of an exciting recovery, driven by industry consolidation and a growing recognition of a need for sustained drilling activity to facilitate an orderly energy transition over time. This inflexion point, which is seeing utilization and dayrates rapidly recovering, coincides with low asset values across the offshore drilling sector.
The Seatankers Group also believes continued industry consolidation is critical and that Valaris will be an industry leader in the years to come, and that it represents by far the most compelling value proposition for investors in what is an increasingly attractive industry.
Investment Rationale
With decades of experience and a network in the offshore drilling industry, the Seatankers Group is confident it can be helpful in accelerating Valaris along the attractive trajectory it is already on. The Seatankers Group has confidence in the Valaris management team and board of Directors and is very excited about the prospects of increased involvement through potential Board representation should Famatown acquire additional shares in an amount the Valaris Board deems sufficient.
The Seatankers Group’s ambition is to create shareholder value and it is determined to be a long-term shareholder of Valaris. Famatown may increase its position further from today’s levels.
Cautionary Statements
Statements contained in this press release that are not historical facts are 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. Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “could,” “may,” “might,” “should,” “will” and similar words and specifically include statements relating to future financial performance and shareholder value. Forward-looking statements are aspirational and are not guarantees or promises that such expectations, plans, or goals will be met. They are also subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking or other statements, except as required by law and notwithstanding any historical practice of doing so.
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1 The beneficiaries of the Trusts are members of Mr. Fredriksen’s family. Mr. Fredriksen is neither a beneficiary nor a trustee of either Trust. Therefore, Mr. Fredriksen has no economic interest in the Shares and Mr. Fredriksen disclaims any control over these Shares, save for any indirect influence he may have with the trustee of the Trusts, in his capacity as the settlor of the Trusts.
Investor & Media Contact:
Elena Varnava
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+ 357 25 858300
Funding focuses on disadvantaged, vulnerable, and historically underserved communities
SAN FRANCISCO--(BUSINESS WIRE)--The PG&E Corporation Foundation (Foundation) today announced the four 2021 recipients of the Better Together Resilient Communities grants, a program to support local initiatives to build greater climate resilience in Northern and Central California, with a particular focus on disadvantaged, vulnerable, and historically underserved communities.
The program awarded $100,000 each to the Tribal EcoRestoration Alliance, the Blue Lake Rancheria, the Yurok Tribe, and the City of Richmond, California. The projects are designed to support wildfire prevention, disaster response preparation, and local emergency cooling for extreme heat events.
“In California, the communities we are privileged to serve face a growing threat from a changing climate,” said Carla Peterman, Executive Vice President of Corporate Affairs and Chief Sustainability Officer for PG&E Corporation. “For the past five years, this program has enabled PG&E to partner with our communities to find new and creative community-driven solutions to build local climate resilience, with a focus on under-represented and vulnerable populations.”
The Better Together Resilient Communities grant program, now in its fifth and final year, has invested $1.7 million in funding from The PG&E Corporation Foundation and $300,000 from Pacific Gas and Electric Company (a subsidiary of PG&E Corporation). Strategies and solutions resulting from the grants are made publicly available to assist all communities in resilience planning and work, and to encourage local and regional partnerships.
Project Proposals
The Tribal EcoRestoration Alliance’s project, “Fire as Medicine,” will build capacity and provide Native American tribal members with relevant firefighting certifications to participate in prescribed burns, purchase equipment for participating in prescribed burns, and share traditional tribal knowledge and techniques with a broader audience of practitioners.
“The Tribal EcoRestoration Alliance was founded in 2019 with seed funding from PG&E’s Better Together Resilient Communities grant,” said Lindsay Dailey, Program Director of the alliance. “With PG&E's catalytic support, we have been able to get our program off of the ground in record time to bring indigenous voices to the table around land stewardship, wildfire resilience, and building an eco-culturally literate workforce to meet the challenges of our times.”
The Blue Lake Rancheria’s project, “Humboldt County COAD Launch,” will fund 12-months of rapid start-up activities for the recently formed Humboldt County COAD (Community Organizations Active in Disaster) network, which is designed to help local non-governmental organizations prepare and coordinate for disaster response. The grant will help establish a network of communications in the region, enable disaster response training, and support outreach and information events.
“This support from PG&E’s Better Together Giving Program, in partnership with the Blue Lake Rancheria Tribe, enables the Humboldt County Community Organizations Active in Disaster to succeed in this important work for our communities,” said Jason Ramos, Rancheria’s Tribal Councilman. “It will serve all of Humboldt’s people, especially those with economic disadvantages, cultural barriers, access and functional needs, and other impediments to effective emergency preparedness and resilience.”
The Yurok Tribe’s project will use prescribed and cultural burns to collect scientific data on the impacts to soil quality, wildfire fuel, and invasive species and serve as a framework for future studies and wildfire mitigation plans. The project will also support food security by creating a traditional foods calendar to plan for climate-driven changes in seasonality for the foods they depend on for nutrition and culture.
"As a way to keep the environment in balance, Yurok people have implemented prescribed and cultural burns within ancestral territory since time immemorial,” said Louisa McCovey, Yurok Tribe Environmental Program Director. “This project will allow us to quantify some of the benefits of cultural and prescribed burns, such as preventing catastrophic forest fires, reducing invasive species, and improving soil quality for traditional food systems. This grant will also support the creation of a traditional foods calendar, which will quantify past seasonal shifting of traditional food harvest times, increasing cultural resiliency to global climate change by creating a model for future shifts.”
The City of Richmond’s project, “Emergency Cooling Structures for Extreme Heat Events,” will increase access to cooling centers by installing cooling misters and canopies in local parks or community centers. Unsheltered residents will be trained and hired to staff the cooling centers and do outreach, along with a broader effort to educate the public in the ways climate change will directly affect the community and how to reduce that impact.
“The City of Richmond is dedicated to building community resilience to climate change,” said Sasha Curl, interim City Manager. “As global temperatures continue to rise, we must ensure communities have a way to stay cool.” The 2021 Better Together Resilient Communities grant will invest “in a project that will reduce the impacts of extreme heat on our residents while providing employment and training opportunities.”
About the Program
Grant proposals for the Better Together Resilient Communities program were evaluated for the extent to which they were designed to build community resilience and capacity to withstand climate-related hazards. Priority was given to proposals that demonstrated past or projected exposure to climate hazards and that addressed the needs of disadvantaged and/or vulnerable communities. To be eligible, applicants must be a governmental organization, educational institution or 501(c)3 nonprofit organization. All applicants must include a local or tribal government within PG&E's service area as a partner.
Please check the Better Together Resilient Communities website for more information.
MEDIA RELATIONS:
415-973-5930
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or "the Company") today announced that Famatown Finance Limited, a company indirectly controlled by trusts settled by John Fredriksen and a member of The Seatankers Group, has accumulated through open market transactions approximately 5% of the common shares of Valaris.
Anton Dibowitz, President and Chief Executive Officer of Valaris, commented: “Valaris welcomes the interest and investment from The Seatankers Group, who have extensive offshore drilling knowledge and experience. We appreciate the confidence expressed in the Valaris management team and Board of Directors, and the recognition of Valaris’ compelling value proposition. We look forward to a collaborative and long-term relationship.”
Further to that, Valaris has entered into a support agreement with Famatown, granting Board observer rights to a Famatown designee upon the satisfaction of certain conditions specified in the support agreement. The support agreement also provides Famatown with the potential to designate a member of the Valaris Board should Famatown increase its ownership of Valaris shares in an amount that the Board deems sufficient.
The Seatankers Group has expressed its determination to be a long-term shareholder while working alongside the Company as a resource and partner to continue driving long-term value for Valaris shareholders. Valaris looks forward to a continued collaborative relationship.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are 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. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," "should," "will" and similar words and specifically include statements relating to future financial performance and shareholder value. Forward-looking statements are aspirational and are not guarantees or promises that such expectations, plans, or goals will be met. They are also subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated. In addition to the factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking or other statements, except as required by law and notwithstanding any historical practice of doing so.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
DUBLIN--(BUSINESS WIRE)--The "Fuel Management Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Fuel Management Systems estimated at US$576.4 Million in the year 2020, is projected to reach a revised size of US$814.3 Million by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027.
Hardware, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$348.7 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 34.5% share of the global Fuel Management Systems market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 4.8% CAGR for the Period of 2020-2027
The Fuel Management Systems market in the U.S. is estimated at US$169.8 Million in the year 2020. The country currently accounts for a 29.46% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$144.2 Million in the year 2027 trailing a CAGR of 4.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$144.2 Million by the year 2027.
Services Segment Corners a 21% Share in 2020
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$97 Million in the year 2020 will reach a projected size of US$137.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$93.9 Million by the year 2027.
Select Competitors (Total 64 Featured) -
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/y85czj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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OVERLAND PARK, Kan.--(BUSINESS WIRE)--Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today declared the December monthly distribution of $0.06 per share payable on December 31, 2021, to shareholders of record on December 24, 2021.
You should not draw any conclusions about TPZ’s investment performance from the amount of this distribution or from the terms of TPZ’s distribution policy.
TPZ estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the distribution may be return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TPZ is paid back to you. A return of capital distribution does not necessarily reflect TPZ’s investment performance and should not be confused with “yield” or “income.”
TPZ will report the sources for its distributions at the time of the payment in the applicable Section 19(a) Notice. The amounts and sources of distributions TPZ reports are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on this fund, please visit cef.tortoiseecofin.com.
About Tortoise
Tortoise focuses on energy and power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, visit www.TortoiseEcofin.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may include “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. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the fund and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
Safe harbor statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
For more information contact Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it..
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