HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its subsidiary, Cheniere Marketing International, LLP (“Cheniere Marketing”), has entered into a binding 20-year liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Foran Energy Group Co., Ltd. (“Foran”). The SPA follows a Heads of Agreement signed between subsidiaries of Cheniere and Foran in November of 2020.
Under the SPA, Foran has agreed to purchase approximately 0.3 million tonnes per annum of LNG from Cheniere Marketing on a delivered ex-ship basis for a term of 20 years beginning in January 2023. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fee.
“We are pleased to finalize this 20-year SPA with Foran that builds upon our relationship. This long-term LNG solution supports Foran’s goals and provides additional supply as China continues to seek cleaner, lower-carbon natural gas to meet its economic and environmental goals,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “This SPA once again demonstrates the strength of the global LNG market today, particularly in China, and underscores the value of Cheniere’s leading ability to tailor solutions to help our customers advance their long-term energy and environmental priorities.”
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission.
About Foran
Foran Energy Group Co., Ltd., formerly Foshan Gas Group Co., Ltd., is one of the fastest growing city gas companies in China primarily engaged in the transmission and distribution of natural gas in the Guangdong region. Foran also provides gas engineering design and construction, integrated energy supply, natural gas trading, gas storage peak shaving and actively promotes the development of cutting-edge technologies and core equipment in the entire industrial chain of natural gas and hydrogen energy, such as solid oxide fuel cell (SOFC), furnace thermal equipment manufacturing, energy conservation and emission reduction, in-pipeline testing technology promotion and R&D, and integrated hydrogen production and hydrogenation equipment. Foran was founded in 1993 and is headquartered in Foshan, China. Foran mainly distributes its products within the domestic Chinese market and is expanding its business scope from a city gas company to a comprehensive energy service provider.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings 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 or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes 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. Cheniere’s 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 Cheniere’s periodic reports that are filed with and available from 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 under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) today announced that Balu Balakrishnan and Sandeep Nayyar, the company’s CEO and CFO, will participate in an online fireside chat at the Wells Fargo TMT Summit on December 1 at 9:40 a.m. Pacific time. A live webcast of the event will be available via the investor page of the company’s website, investors.power.com.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power-conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.
Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.
Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
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TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY, FSE:2LF) (“Greenland Resources” or the “Company”) is pleased to announce that a meeting took place in Nuuk, Greenland on November 17, 2021 between Dr. Ruben Shiffman, Chairman of Greenland Resources, Mr. Jørgen Hammenken-Holm, Deputy Minister for the Ministry of Mineral Resources and Ms. Naaja Nathanielsen, the Minister for Housing, Infrastructure, Minerals, Justice, and Gender Equality in Greenland.
During the meeting, the Company provided an update on the Malmbjerg molybdenum project. Ms. Nathanielsen reaffirmed the government support and importance of the Malmbjerg molybdenum project in East Greenland development, as well as the commitment to continue with the pro mining Mineral Strategy 2020-2024 approved by the Government of Greenland. Dr. Shiffman explained management’s successful track record on previous mining projects, with an emphasis on stakeholder social responsibility, and discussed the next steps in advancing the Malmbjerg molybdenum project to production.
Minister for Housing, Infrastructure, Minerals, Justice and Gender Equality, Naaja H. Nathanielsen commented: “The development of a strong environmentally and socially responsible mining industry, will enhance the diversification of Greenland’s economy for the benefit of all the people of Greenland. The Malmbjerg molybdenum project located in East Greenland has the potential to make a positive economic and social contribution to Greenland as well as to the European Green Deal and the European Raw Material Alliance”.
Dr. Shiffman, Chairman of Greenland Resources said: ”We thank the Minister and her team for the ongoing support. It has been a very positive experience to work with such a talented team. As an Associate Member of the European Union, and part of the European Raw Material Alliance network through their Ministry of Mineral Resources, Greenland has the enviable advantage of being able to supply critical minerals to the European Green Deal from a long-term responsible source. The world class Malmbjerg molybdenum project will be a big part of Greenland and will anchor east coast development. Molybdenum is a critical element in all green energy technologies; the European Union is the second largest molybdenum user in the world but has no production.”
Qualified Person Statement
Mr. Jim Steel, P.Geo., M.B.A., a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information in this press release.
About Greenland Resources Inc.
Greenland Resources is a Canadian reporting issuer with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned world-class Climax type pure molybdenum deposit located in central east Greenland. The Malmbjerg molybdenum deposit has pit-constrained Measured and Indicated Resources of 281 million tonnes at 0.18% MoS2, for 661 million pounds of contained molybdenum metal (Tetra Tech, 2021). The Malmbjerg molybdenum project benefits from a 2008 Feasibility Study completed by Wardrop (now Tetra Tech), an Environmental and Social Impact Assessment (SRK, 2007), an engineering optimization Concept Study (DRA, 2019) and had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) as well as our Canadian regulatory filings on Greenland Resources’ profile at www.sedar.com
About Molybdenum and the European Union
Molybdenum is a metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition (World Bank, 2020; IEA, 2021). When added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. Based on data from the International Molybdenum Association and the European Commission Steel Report, the world produced around 546 million pounds of molybdenum in 2020 where the European Union (“EU”) as the second largest steel producer in the world used approximately 25% of global molybdenum supply and has no domestic molybdenum production. To a greater degree, the EU steel dependent industries like the automotive, construction, and engineering, represent around 18% of the EU’s ≈ US$16 trillion GDP. Greenland Resources Malmbjerg molybdenum project has the potential to supply in and for the EU approximately 25 million pounds per year, of environmentally friendly molybdenum from a responsible EU Associate member country, for decades to come.
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan” and include, but are not limited to, statements with respect to: future opportunities, future operating and capital costs, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Malmbjerg molybdenum deposit, the technical viability of the Malmbjerg molybdenum deposit, the market and future price of and demand for molybdenum, the environmental impact of the Malmbjerg molybdenum deposit, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a Feasibility Study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Ruben Shiffman, PhD Chairman, President
Keith Minty, P.Eng, MBA Engineering and Project Management
Jim Steel, P.Geo, MBA Exploration and Mining Geology
Nauja Bianco, M.Pol.Sci. Public and Community Relations
Gary Anstey Investor Relations
Corporate office Suite 1410, 181 University Av. Toronto, Ontario, Canada M5H 3M7
Telephone +1 647 273 9913
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Web www.greenlandresources.ca
NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the "Company") (TSX:KEI) announces that it will conduct a rights offering (the "Offering") to raise net proceeds of up to approximately C$8.86 million, through the issuance of rights ("Rights") to all existing shareholders in eligible jurisdictions to subscribe for an aggregate of 126,585,714 common shares of the Company ("Common Shares") at a subscription price of C$0.07 per Common Share (the "Subscription Price").
The Company will issue one Right for each outstanding Common Share to holders of Common Shares of record at the close of business on December 1, 2021. Each Right will be exercisable to acquire 0.5435 Common Shares of the Company, upon payment of the subscription price per Common Share. Fractional shares will not be issued and any fractions will be rounded down to the nearest whole number. To illustrate: an eligible holder of 10,000 shares as of the record date would be issued 10,000 Rights, which would entitle the holder to subscribe for 5,435 shares (10,000 x 0.5435) for an aggregate price of C$380.45 (5,435 x C$0.07). Additional information is provided in the Company's rights offering circular dated November 23, 2021 (the "Rights Offering Circular"), which will be available as set out below.
The Rights will trade on the Toronto Stock Exchange under the symbol "KEI.RT" until 9:00 a.m. (Pacific Time) on December 29, 2021. The Rights will expire at 2:00 p.m. (Pacific Time) on December 29, 2021 (the "Expiry Time"), after which time unexercised Rights will be void and of no value.
Shareholders who fully exercise their Rights will be entitled to subscribe for Additional Common Shares in the Offering, if available, as a result of unexercised Rights prior to the Expiry Time, subject to certain limitations set out in the Rights Offering Circular (the "Additional Subscription Privilege").
Use of Proceeds and Potential Credit Facility Borrowing Base Increase
The Company intends to use the proceeds of the Offering to start a new drilling program in the Company’s Tishomingo Field. When the Company receives the shareholder commitments described below, the Company expects to be in a position to drill and complete at least one well when the Offering is completed. BOK Financial has agreed to increase the borrowing base under the Company’s wholly-owned subsidiary, BNK Petroleum US Inc.'s credit facility (the “Credit Facility”) by US$2,000,000 if the gross proceeds from the Offering are at least C$8,500,000 and certain other conditions are met. If the borrowing base is so increased, the Company intends to use the proceeds from the Offering and the borrowing base increase to drill and complete two wells in its Tishomingo Field, Oklahoma.
Shareholder Commitments
Livermore Partners LLC (“Livermore”), a shareholder of the Company controlled by David Neuhauser, the Chairman of the board of directors of the Company, has agreed (i) to exercise all of the Rights it receives in the Offering pursuant to its basic subscription privilege and (ii) to subscribe for 29,673,225 additional Common Shares (“Additional Common Shares”) pursuant to the Additional Subscription Privilege, representing a total commitment of C$2,531,646 or approximately 28.57% of the fully subscribed Offering.
Polygon Global Partners LLP ("Polygon"), a shareholder of the Company, has entered into a Stand-By Commitment Agreement (the "Stand-By Agreement") with the Company. Subject to the terms of the Stand-By Agreement, Polygon will purchase all unsubscribed Common Shares issuable under the Rights Offering to a maximum of 54,249,548 Common Shares (collectively, the "Stand-By Guarantee"), less any Common Shares subscribed for by Polygon or certain third parties pursuant to the exercise of Rights or the Additional Subscription Privilege. Polygon is not required to subscribe for Common Shares that would result in Polygon owning or controlling more than 20% of the issued and outstanding Common Shares. If the Offering is only comprised of Livermore and Polygon, and no other rights are exercised, Polygon would only be required to purchase a maximum of 51,030,741 Common Shares, provided Polygon continues to hold 12,990,500 Common Shares prior to closing of the Rights Offering.
Exercising Rights
A rights offering notice ("Notice") and Rights DRS advice statements ("Rights DRS") will be mailed to each registered shareholder of the Company resident in Canada and certain other eligible jurisdictions as at the record date. Registered shareholders who wish to exercise their Rights must forward the completed Rights DRS, together with the applicable funds, to the Rights agent, Computershare Investor Services Inc., on or before the Expiry Time. Eligible shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.
It is important to note that many intermediaries may have different cut off times prior to the Expiry Time. As such, the Company recommends that all Eligible shareholders who own their Common Shares through an intermediary contact their broker or financial advisor about the Rights Offering to ensure that they can participate by the intermediary’s cut off time for subscriptions.
Further Information
Further details of the Rights Offering are contained in the Notice of Rights Offering and Rights Offering Circular, which will be filed on SEDAR under the Company's profile at www.sedar.com and will be available at the Company’s website at www.kolibrienergy.com, from your dealer representative or by contacting Gary Johnson by telephone at 805-484-3613, by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or at 3623 Old Conejo Road, Suite 207, Newbury Park, California 91320. The Company is also registering the offer and sale of the shares issuable on exercise of the Rights on a Form F-7 registration statement under the U.S. Securities Act of 1933, as amended. Shareholders in the United States should also review the Company’s Registration Statement on Form F-7 which will be filed with the United States Securities and Exchange Commission and can be found at www.sec.gov and may also be obtained by contacting Gary Johnson by telephone at 805-484-3613, by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or at 3623 Old Conejo Road, Suite 207, Newbury Park, California 91320.
The Rights Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the Toronto Stock Exchange.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. No offer, solicitation or sale of these securities shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws and “forward-looking statements” as such term is used in the United States, including statements regarding completion of the Offering, Livermore subscribing for Common Shares pursuant to its Rights and the Additional Committed Common Shares, fulfilment of the Stand-By Guarantee, the increase in the borrowing base under the Credit Facility, the Company's intended use of proceeds, the estimated costs of the Offering; the net proceeds to be available upon completion of the Offering, the adequacy of the net proceeds of the Offering, the use of proceeds from the Offering and anticipated results and the Company’s plans and objectives. Forward-looking information and statements are based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that required regulatory approvals will be available when required, that the development plans of the Company and its co-venturers will not change, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information or statements in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, the Company not being able to receive of all necessary regulatory approvals, including the acceptance of the Toronto Stock Exchange for the Offering, Livermore not subscribing for Common Shares pursuant to its Rights or the Additional Committed Common Shares, the Stand-By Guarantee not being fulfilled, failure to satisfy the conditions to borrow additional funds under the Credit Facility or those funds otherwise not being available to the Company, that unexpected geological results are encountered, that equipment failures, permitting delays labor or contract disputes or shortages of equipment or labor are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Wolf E. Regener, +1 (805) 484-3613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.kolibrienergy.com
DUBLIN--(BUSINESS WIRE)--The "Marine Propulsion Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global marine propulsion engine market exhibited moderate growth during 2015-2020. Looking forward, the publisher expects the global marine propulsion engine market to grow at a CAGR of 3.5% during 2021-2026.
Companies Mentioned
A marine propulsion engine burns fuel and enables ships to move across the water. It comprises a piston, valves, towers, casings, bearings, bedplates, crankcases, crankshafts, flywheels, generators, transformers, gearboxes, control panels, rotor blades, electrical controls, and cylinder blocks and liners. It has generators that supply electric power to motors and can operate on heavy fuel or diesel oil. Nowadays, it is widely utilized in modern merchant ships and offshore support vessels as prime movers across the globe.
The rising international trade on account of the increasing globalization and industrialization is escalating the demand for container ships to transport a variety of products, such as oil, natural gas, mineral ores and consumer products. This represents one of the major factors bolstering the global marine propulsion engine market growth. Moreover, the increasing focus on reducing fossil fuel consumption and improving energy efficiency is escalating the adoption of marine electric propulsion engines worldwide.
Apart from this, the advent of nuclear propulsion and the growing preference for liquefied natural gas (LNG) are further contributing to the market growth. Besides this, advancements in technology and the rising environmental awareness are resulting in the utilization of alternate fuels, such as bio-methane and algal oils, to run marine propulsion engines with minimal exhaust gas emissions. Moreover, the market players are focusing on enhancing the efficiency of marine propulsion engines to increase the cargo holding capacity of new-generation tankers, which is anticipated to fuel the market growth.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Marine Propulsion Engine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Engine Type
7 Market Breakup by Power Source
8 Market Breakup by Power Range
9 Market Breakup by Vessel Type
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/mw22mb
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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160MW mega-scale campus will be company’s largest in North America to welcome hyperscalers, cloud providers and large enterprises
DENVER--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced the topping out of its first 32MW data center in Goodyear, Arizona, just outside of Phoenix, one of the top five data center markets in the U.S. This will be the company’s largest North American campus when fully developed at 160MW and second largest globally, after its 270MW Cardiff campus in the U.K. The first phase of development will be comprised of a single-story facility offering 32MW of critical IT capacity and is scheduled to be operational in the spring.
“As we continue to expand globally, Vantage is also increasing our footprint across North America to meet our customers growing needs, providing high-quality data centers in strategic markets,” said Jeff Tench, president, North America, Vantage Data Centers. “Our customers have identified Phoenix as an ideal location due to its low power costs, rich connectivity and business-friendly environment. This is a fitting market for hyperscalers, cloud providers and larger enterprises who need a west coast presence for their digital infrastructure requirements.”
Located on 50 acres within Goodyear’s “Bullard Tech Corridor,” this growing campus will include three data centers and more than 1 million square feet once fully developed. This location will provide Vantage’s hyperscale, cloud and large enterprise customers with a viable alternative to the space-constrained and more costly Silicon Valley market.
“We are excited Vantage chose Goodyear for its flagship location in the southwest region. The company’s commitment to sustainability is demonstrated by design decisions which virtually eliminate water for cooling,” said Vice Mayor Brannon Hampton. “The city of Goodyear has established itself as a dynamic locality by attracting top technology companies and knowledge-based jobs. We look forward to a sustained partnership as the first facility opens its doors next year.”
Vantage is prioritizing environmental stewardship in Arizona as it has done in each of its global markets. The campus will employ a closed-loop chilled water system with air-side economizers that allows for reduced energy use based on outside ambient temperature. The system uses no ongoing water, a critical feature in this region, making the planned water usage efficiency (WUE) near zero (liters/kW/hr). This approach, along with other design features and access to renewable energy, enables Vantage to achieve industry-leading power usage effectiveness (PUE). Vantage has also committed to achieve net zero carbon emissions across every campus by 2030.
Vantage remains focused on growing its footprint across North America and worldwide. This milestone follows on the heels of two global expansions by Vantage, which recently entered both Asia Pacific and South Africa.
On Tuesday, November 23, a topping out celebration was held on site in honor of placing the last beam of steel atop the data center structure. Attendees included Vice Mayor Brannon Hampton, Council Member Joe Pizzillo, Council Member Sheri Lauritano, Council Member Bill Stipp, Assistant to the Council John Raeder, city staff and officials from Layton Construction (general contractor).
For more information on Vantage’s Phoenix campus, please visit: https://vantage-dc.com/data-center-locations/north-america/phoenix-arizona/.
About Vantage Data Centers
Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.
For more information, visit www.vantage-dc.com.
Mark Freeman
Vantage Data Centers
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+1-202-680-4243
Robin Bectel
REQ for Vantage Data Centers
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+1-703-287-7827
Addition of Chile’s largest cold storage operator in one of the world’s
most important seafood and fruit export markets
SÃO PAULO, Brazil--(BUSINESS WIRE)--Emergent Cold Latin America (Emergent LatAm), Latin America’s newest temperature-controlled warehousing and logistics provider, announced today the acquisition of Friopacífico, the leading cold storage business in Chile and an integral part of the country’s thriving fishing and fruit industries. This acquisition marks Emergent LatAm’s entry into Chile, a major global food export market. Joaquin Del Campo, General Manager of Friopacífico, will continue to manage the business as part of the Emergent LatAm leadership team.
Friopacífico operates over 47,000 pallet positions across three facilities located in Talcahuano and San Pedro de la Paz, close to the main ports in Chile’s Eighth Region of Biobío. The company provides a full range of storage and value-added services, including product haulage, reefer connections, online stock monitoring and photographic reporting. As part of the Emergent LatAm network, Friopacífico will embark upon an ambitious growth plan that includes additional storage capacity and blast freezing capability.
Chile is an essential part of the global food trade. It currently holds the world’s largest horse mackerel quota and is second in global salmon production. These exports and others such as mussels and trout are expected to grow in the coming years. Notably, Blumar Seafoods – a leading fishing and aquaculture organization – is part of the company’s prior ownership group and will remain as an important client of Friopacífico. In addition to seafood, Chile is a significant exporter of fruit.
“We are proud to welcome the Friopacífico team to our growing Latin American network,” said Neal Rider, CEO of Emergent LatAm. “Our company’s vision is to bring together the leading cold storage and logistics businesses across the region’s most essential global trading markets, which makes Friopacífico a perfect fit for our organization. I wish to thank Blumar and Inversiones Galletue for their trust as we move forward and support this important marketplace.”
For Blumar Seafoods, the acquisition of Friopacífico by Emergent Latam is great news, given its broad experience globally in cold storage and logistics. “We are confident that best in class technology and best practices will be incorporated into Friopacifico for the benefit of our operations," said Gerardo Balbontín, CEO of Blumar.
According to Mark Stengel, general manager of Inversiones Galletué, the fact that Emergent LatAm is one of the leading cold storage and logistics companies in the industry strongly influenced the decision to sell the company, thus ensuring continuity of the excellent service the company currently provides to its customers. In addition, he highlighted the company is expected to grow rapidly.
44 Capital Finanças Corporativas acted as financial advisor and NLD Abogados acted as legal advisor to Emergent LatAm. Debt financing for the transaction was provided by Scotiabank.
About Emergent Cold Latin America
Emergent Cold Latin America (www.emergentcoldlatam.com) is building the highest quality cold storage network to provide integrated, end-to-end temperature-controlled logistics solutions to customers throughout Latin America. The Company was founded to fill a need for modern cold-chain solutions within the market and to serve the increasing demand from domestic and global trade customers.
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CALGARY, Alberta & KANSAS CITY, Mo.--(BUSINESS WIRE)--Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) (“CP”) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that the Surface Transportation Board (“STB”) has accepted the joint CP-KCS merger application as complete.
“We are pleased that the Board has accepted our comprehensive joint application and declared it complete,” said Keith Creel, CP President and Chief Executive Officer. “We look forward to moving forward with a robust regulatory review of this historic combination that will add capacity to the U.S. rail network, create new competitive transportation options, support North American economic growth, and deliver other important benefits to customers, employees, and the environment.”
“We have reached another important milestone and look forward to playing our part as the STB begins its formal review of the joint application for our historic combination with CP,” said Patrick J. Ottensmeyer, KCS President and Chief Executive Officer. “I would like to thank all those involved in submitting our successful application as part of our continuing work to bring our two companies together.”
In the same decision, the Board also set a procedural schedule for the regulatory review that calls for final briefs on July 1, 2022. CP and KCS anticipate that the STB review of CP’s proposed control of KCS will be completed in the fourth quarter of 2022.
For information on the benefits of a CP-KCS combination, visit FutureForFreight.com.
FORWARD LOOKING STATEMENTS AND INFORMATION
This news release includes certain forward looking statements and forward looking information (collectively, “FLI”) to provide CP and KCS stockholders and potential investors with information about CP, KCS and their respective subsidiaries and affiliates, including each company’s management’s respective assessment of CP, KCS and their respective subsidiaries’ future plans and operations, which FLI may not be appropriate for other purposes. FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “will”, “target”, “believe”, “likely” and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI.
Although we believe that the FLI is reasonable based on the information available today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. By its nature, FLI involves a variety of assumptions, which are based upon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by these FLI, including, but not limited to, the following: the timing and completion of the transaction, including receipt of regulatory and shareholder approvals and the satisfaction of other conditions precedent; interloper risk; the realization of anticipated benefits and synergies of the transaction and the timing thereof; the success of integration plans; the focus of management time and attention on the transaction and other disruptions arising from the transaction; changes in business strategy and strategic opportunities; estimated future dividends; financial strength and flexibility; debt and equity market conditions, including the ability to access capital markets on favourable terms or at all; cost of debt and equity capital; potential changes in the CP share price which may negatively impact the value of consideration offered to KCS stockholders; the ability of management of CP, its subsidiaries and affiliates to execute key priorities, including those in connection with the transaction; general Canadian, U.S., Mexican and global social, economic, political, credit and business conditions; risks associated with agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures, including competition from other rail carriers, trucking companies and maritime shippers in Canada, the U.S. and Mexico; North American and global economic growth; industry capacity; shifts in market demand; changes in commodity prices and commodity demand; uncertainty surrounding timing and volumes of commodities being shipped; inflation; geopolitical instability; changes in laws, regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; disruption in fuel supplies; uncertainties of investigations, proceedings or other types of claims and litigation; compliance with environmental regulations; labour disputes; changes in labour costs and labour difficulties; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; sufficiency of budgeted capital expenditures in carrying out business plans; services and infrastructure; the satisfaction by third parties of their obligations; currency and interest rate fluctuations; exchange rates; effects of changes in market conditions and discount rates on the financial position of pension plans and investments; trade restrictions or other changes to international trade arrangements; the effects of current and future multinational trade agreements on the level of trade among Canada, the U.S. and Mexico; climate change and the market and regulatory responses to climate change; ability to achieve commitments and aspirations relating to reducing greenhouse gas emissions and other climate-related objectives; anticipated in-service dates; success of hedging activities; operational performance and reliability; customer, shareholder, regulatory and other stakeholder approvals and support; regulatory and legislative decisions and actions; the adverse impact of any termination or revocation by the Mexican government of Kansas City Southern de Mexico, S.A. de C.V.’s Concession; public opinion; various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, as well as security threats and governmental response to them, and technological changes; acts of terrorism, war or other acts of violence or crime or risk of such activities; insurance coverage limitations; material adverse changes in economic and industry conditions, including the availability of short and long-term financing; and the pandemic created by the outbreak of COVID-19 and its variants, and resulting effects on economic conditions, the demand environment for logistics requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions, and disruptions to global supply chains.
We caution that the foregoing list of factors is not exhaustive and is made as of the date hereof. Additional information about these and other assumptions, risks and uncertainties can be found in reports and filings by CP and KCS with Canadian and U.S. securities regulators, including any proxy statement, prospectus, material change report, management information circular or registration statement to be filed in connection with the transaction. Reference should be made to “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Forward Looking Statements” in CP’s and KCS’s annual and interim reports on Form 10-K and 10-Q. Due to the interdependencies and correlation of these factors, as well as other factors, the impact of any one assumption, risk or uncertainty on FLI cannot be determined with certainty.
Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this news release is expressly qualified in its entirety by these cautionary statements.
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT
CP has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form F-4, which includes a proxy statement of KCS that also constitutes a prospectus of CP. The registration statement has been declared effective. CP has filed with the SEC its prospectus and KCS has filed with the SEC its definitive proxy statement in connection with the proposed transaction, and the KCS proxy statement is being sent to the stockholders of KCS seeking their approval of the merger-related proposals. CP has filed a management proxy circular in connection with the transaction with applicable securities regulators in Canada and the management proxy circular will be sent to CP shareholders. INVESTORS, STOCKHOLDERS AND SHAREHOLDERS OF KCS AND CP ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND MANAGEMENT PROXY CIRCULAR, AS APPLICABLE, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE (INCLUDING ANY AMENDMENTS AND SUPPLEMENTS THERETO), AS THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT KCS, CP, THE TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other documents filed by CP and KCS with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the registration statement, proxy statement/prospectus, management proxy circular and other documents which have been or will be filed with the SEC and applicable securities regulators in Canada by CP online at investor.cpr.ca and www.sedar.com, upon written request delivered to CP at 7550 Ogden Dale Road S.E., Calgary, Alberta, T2C 4X9, Attention: Office of the Corporate Secretary, or by calling CP at 1-403-319-7000, and will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by KCS online at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’s Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
You may also read and copy any reports, statements and other information filed by KCS and CP with the SEC at the SEC public reference room at 100 F Street N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-732-0330 or visit the SEC’s website for further information on its public reference room. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
PARTICIPANTS IN THE SOLICITATION OF PROXIES
This news release is not a solicitation of proxies in connection with the transaction. However, under SEC rules, CP, KCS, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the transaction. Information about CP’s directors and executive officers may be found in its 2021 Management Proxy Circular, dated March 10, 2021, as well as its 2020 Annual Report on Form 10-K filed with the SEC and applicable securities regulators in Canada on February 18, 2021, available on its website at investor.cpr.ca and at www.sedar.com and www.sec.gov. Information about KCS’s directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the interests of such potential participants in the solicitation of proxies in connection with the transaction are included in the proxy statement/prospectus, management proxy circular and other relevant materials filed or to be filed with the SEC and applicable securities regulators in Canada when they become available.
ABOUT CANADIAN PACIFIC
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of CP. CP-IR
ABOUT KCS
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
Canadian Pacific
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DUBLIN--(BUSINESS WIRE)--The "Chemical Enhanced Oil Recovery (EOR / IOR) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Chemical Enhanced Oil Recovery (EOR/IOR) Market to Reach $1 Billion by 2026
Global Chemical Enhanced Oil Recovery (EOR/IOR) market is projected to register moderate growth over the near-to-long term. The market, estimated at US$776.4 Million in 2020 is projected to reach US$1 Billion by 2026, registering a compounded annual growth rate (CAGR) of 4.9% over the analysis period.
While primary and secondary recovery methods are capable of extracting around 20-40% of the oil from a reservoir, EOR techniques can recover around 30-60% of the total reservoir oil. At a certain point, during the well's life, the cost of recovering an additional barrel of oil is higher than the market value. Thus, under normal conditions, the well is deserted after recovering one-third of the original oil in place, leaving two-thirds under the ground.
Secondary recovery methods are normally used to repressure the reservoir and drive out some of the remaining oil. Enhanced oil recovery (EOR/IOR) is a technique for increasing the amount of crude oil that can be extracted from an oil field. The most advanced EOR methods are tertiary recovery methods, which include gas flooding, thermal recovery, and chemical recovery. Enhanced oil recovery techniques, include water flooding, steam injection, and hydrocarbon gas-injection methods in existing deep, light oil reservoirs to prolong the life of oil and gas reservoirs.
Other Enhanced Oil Recovery (EOR) Techniques include Microbial Recovery and Thermal Enhancement Recovery. Microbial recovery involves injecting bacteria and nutrients into the reservoir. The bacterium multiplies and biochemically manufactures surfactants and polymers.
Though the demand for energy has declined considerably due to the COVID-19 pandemic, long-term demand is expected to remain stable led by rising energy needs of the world. The rapid depletion of existing fossil fuel resources, and the need to increase production from existing wells is leading to the rising demand for enhanced oil recovery techniques. With oil reserves depleting rapidly and existing reserves maturing, there is growing need for technologies that can extract oil from challenging geologies.
Given the fact that the age of 'easy oil' has come to an end, and the industry is moving towards producing in tough sources such as highly tight oil fields, ultra-deep offshore fields, extra heavy oils reservoirs, and naturally fractured reservoirs, the challenge of recovery has increased. Emphasis is also on extracting crude oil from existing oil fields that can no longer produce oil using conventional techniques.
All of these factors coupled with the need to improve overall efficiency of extraction operations are fueling growth in the EOR chemicals market. Besides the rising production of crude oil, opportunities for the market are also emerging from the significant increase in deep drilling projects.
There is especially high demand for the chemicals for increasing output in mature onshore fields. With demand for chemical EOR technique growing in onshore as well offshore oilfields, the market for EOR chemicals is poised for growth. Chemical EOR market is being fostered by sustained focus on innovations as in case of hybrid processes, and the shift towards bio-based chemicals owing to its eco-friendly attribute.
The recent years have witnessed the emergence of nanotechnology with potential applications in the oil & gas industry. Nanofluid, referring to the application of nanotechnology to base fluid such as oil, gas, or water, is known to offer a solution to several issues related to oil & gas industry.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 69 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/3axwkq
ResearchAndMarkets.com
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LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that it received a letter (the “Nasdaq Letter”) from The Nasdaq Stock Market (“Nasdaq”) dated November 17, 2021, indicating that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1). The Nasdaq Letter, which the Company expected, was issued in accordance with standard Nasdaq procedures due to the delayed filing of the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021 (the “Q3 Form 10-Q”). The Nasdaq Letter advised the Company that it is permitted 60 calendar days to submit a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1), and that the Nasdaq staff can grant the Company an exception, up to 180 calendar days from the due date of the Q3 Form 10-Q, to regain compliance. The Nasdaq Letter further advised the Company that it will be placed on a list of non-compliant Nasdaq companies within five business days of November 17, 2021.
The Company previously filed a Form 12b-25 with the Securities and Exchange Commission on November 15, 2021, disclosing that the Company’s board of directors formed a special committee of independent directors (the “Special Committee”) to investigate allegations of inaccurate disclosures, including claims contained in a report issued by an investor with a history of seeking to drive down public companies’ stock prices for its own benefit. The Special Committee has engaged outside counsel to conduct an independent review of such allegations. The review is ongoing, and the Special Committee continues to work diligently with outside counsel and advisors to complete the review as soon as possible. The Company cannot predict the duration of the review, eventual scope, its outcome, or its impact on the Company’s financial results.
As noted in the Form 12b-25, the Company is working diligently towards the goal of being in a position to file the Q3 Form 10-Q, as well as its Form 8-K with the Company’s third quarter 2021 earnings press release and its amended Registration Statement on Form S-1 as soon as practicable after the conclusion of the review, but at this time cannot predict with certainty when the preparation and filing of those forms will be completed. The Company intends to timely submit a plan to regain compliance to the Nasdaq Listing Qualifications Department. During this time, and for the extension period which may be granted to the Company by the Nasdaq Listing Qualifications Department, the Company’s securities will continue to be listed on Nasdaq. Upon the Company’s filing of its Q3 Form 10-Q, the Company will again become compliant with Nasdaq Marketplace Rule 5250(c)(1).
ABOUT FARADAY FUTURE
Established in May 2014, Faraday Future is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, Faraday Future has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, Faraday Future was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.”, and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. The “I” in FFIE stands for Intelligent and Internet and the “E” stands for Ecosystem and Electric. FF is not just an EV company, but also an internet and technology company, an AI product company, a software company, and a user ecosystem company. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the ultimate intelligent techluxury brand positioning, Faraday Future’s first flagship product FF 91 Futurist is equipped with exceptional product power. It is not just a high-performance EV, an all-ability car, and an ultimate robotic vehicle, but also the third internet living space.
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NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Faraday Future’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the outcome of the Special Committee review; Faraday Future’s ability to file the Q3 Form 10-Q before the time period specified in the Nasdaq Letter and its ability to regain compliance with the Nasdaq continued listing standards; Faraday Future’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; Faraday Future’s estimates of the size of the markets for its vehicles and costs to bring its vehicles to market; the rate and degree of market acceptance of Faraday Future’s vehicles; the success of other competing manufacturers; the performance and security of Faraday Future’s vehicles; potential litigation involving Faraday Future; the result of future financing efforts and general economic and market conditions impacting demand for Faraday Future’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the preliminary registration statement on Form S-1 recently filed by Faraday Future and other documents filed by Faraday Future from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Faraday Future does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For Faraday Future
Mark Connelly
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DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Capstone Companies, Inc. (OTC: CAPC) (“Capstone” or the “Company”), a designer, manufacturer and marketer of consumer inspired products that simplify daily living through technology announced today that it will host a conference call during which Chairman and Chief Executive Officer, Stewart Wallach will discuss the status of the Smart Mirror launch.
Stewart Wallach, Capstone’s Chairman and CEO, commented, “The frustrations that shareholders are experiencing have been intensified by the hiatus in messaging. I plan on bringing our shareholder community up to date on all pertinent aspects of the Smart Mirror program including status of certifications, production plans, inventory availability for consumer orders as well as marketing directives leading up to the Consumer Electronics Show 2022.”
Wednesday, December 1, 2021
11:00 am Eastern Time
Phone: 1-201-689-8562
Internet webcast link available at: www.capstonecompaniesinc.com
A telephonic replay will be available from 2:00 p.m. Eastern the day of the call until Wednesday, December 8, 2021. To listen to the archived call, dial (412) 317-6671 and enter conference ID 13725384.
The Company welcomes you to visit its updated website at www.capstoneconnected.com that now enables users to reserve their preferred mirror.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing and marketing of consumer products to retail channels throughout North America and certain international markets.
Visit our websites; www.capstonecompaniesinc.com for more information about the Company and www.capstoneconnected.com for information on our current product offerings. Contents of referenced URL’s are not incorporated herein.
Forward Looking Statements. This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing Company’s views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this press release and involve a number of risks and uncertainties, some beyond the Company’s control or ability to foresee, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including, including: the prospects of a new product line like the Smart Mirrors; the impact of Coronavirus/COVID-19 pandemic on the Smart Mirror product line and consumer responsiveness to that product line; any difficulty in manufacturing the products or marketing Company products in its target markets; growing competition in the very competitive market; and impact of evolving technologies in Smart Mirrors on Company’s prospects and products. Coronavirus/COVID-19 pandemic continues to restrict or adversely impact the general economy as well as business operations of companies and retailers, especially consumer product companies like our company that has traditionally relied on retail distribution. Further, whether resulting from Coronavirus/COVID-19 pandemic or our status as a smaller reporting company or both factors, an increase in the cost or the difficulty to obtain debt or equity financing necessary to produce and promote our product line could affect our ability to fund operations or future financial and business performance. The future impact of Coronavirus/COVID-19 pandemic and the emerging variants of that virus on our company and its Smart Mirror launch continues to very difficult to foresee or predict. Additional information that could lead to material changes in Company’s performance is contained in its filings with the Securities and Exchange Commission. Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of current information, future events or otherwise. Any investment in the Company’s common stock, which is a “penny stock,” is highly risky and not suitable for investors who require liquidity and are unable to withstand the loss of their investment. Investors should only rely on public information in our filings with the SEC, especially disclosures of Risk Factors, as a basis for investment decisions about Company common stock. Company’s SEC filings can be accessed through SEC website: www.sec.gov or the corporate website listed below.
Aimee C. Brown
Corporate Secretary
(954) 252-3440, ext. 313
LONDON--(BUSINESS WIRE)--Meeting the EU’s 2030 climate target needs €3.5 trillion of investment this decade to decarbonise Europe’s buildings through renovation, according to a new report from the Green Finance Institute (GFI). Based on Member States’ current plans, the investment gap to 2030 is estimated at €2.75 trillion1, making it the largest climate investment gap of any sector.
The report: Unlocking the Trillions: Public-private innovation to deliver the EU’s renovation wave ambition provides new analysis of how Member States can mobilise private finance and investment for building renovation. The paper highlights a combination of finance market maturity, an enabling environment, and policy ambition as pillars upon which financial innovation stands, and the landscape for these differs across Europe. The report launched in partnership with independent climate think tank E3G with funding from the Laudes Foundation, conducted a unique mapping exercise to identify high-potential countries with a mature financial landscape, which have an enabling environment and ambitious built environment plans. It then looked at existing projects and networks in each country.
The Green Finance Institute, is the UK’s principal forum for public and private sector collaboration in green finance, and alongside the report it is launching the Coalition for the Energy Efficiency of Buildings Europe (CEEB Europe) to bring together leaders in finance, real estate and energy sectors, and policy, academia and non-profit organisations, to co-develop financial products to address this investment gap, building on the success of the GFI’s UK-based Coalition, Coalition for the Energy Efficiency of Buildings (CEEB).
As a next step, CEEB Europe will partner with key players in finance and real estate sectors to join or set up in-country coalitions which will work through the country-specific challenges and opportunities for widescale renovation.
“At COP26 we heard renewed calls for the built environment to fully decarbonise. As this report notes, the investment gap to realise these ambitions is huge. The real gap is now one of collaboration – across the worlds of finance, buildings, policy and more – to align ambition, and establish the practical instruments that help millions of citizens and businesses bring their buildings up to climate-aligned standards. The CEEB model is leading the way here.” – James Drinkwater, Head of Built Environment, Laudes Foundation.
For further information, please contact
1 https://ec.europa.eu/energy/sites/ener/files/eu_renovation_wave_strategy.pdf added to the Commission’s current estimated spend of €85-90bn x10
SEC Newgate UK
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DUBLIN--(BUSINESS WIRE)--The "Offshore Mooring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global offshore mooring systems market exhibited moderate growth during 2015-2020. Looking forward, the publisher expects the market to grow at a CAGR of 6.3% during 2021-2026.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Offshore mooring systems comprise mooring lines, anchors, and connectors for berthing ships in floating structures, including piers, bridges, dry docks, and oil drilling and production facilities. At present, several manufacturers are focusing on developing new offshore mooring systems for safe and secure oil and gas exploration and production in unfavorable environmental conditions. This, along with the rapid expansion of the oil and gas industry, is driving the demand for offshore mooring systems around the world to support oil exploration in deeper water.
The escalating demand for energy across the globe and a significant decrease in the number of shallow and onshore gas reserves have resulted in the shifting oil and gas extraction activities to deep-water areas. This represents one of the primary factors bolstering the growth of the offshore mooring systems market. Moreover, the development of advanced features, such as high-temperature gas hydrate basins, to enable precise operations while maximizing safety measures and reducing human efforts is catalyzing the demand for offshore mooring systems.
Apart from this, several leading manufacturers are introducing a new generation of deep-water mooring and anchoring vessels and systems. These systems provide solutions to different issues arising on account of seabed conditions, vessel anchoring capabilities, and higher weights and tensions. This, in confluence with the rising adoption of renewable energy sources due to growing environmental concerns and the implementation of stringent regulation by government authorities of numerous countries, is anticipated to fuel the market growth in the forthcoming years.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Offshore Mooring Systems Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
7 Market Breakup by Anchorage
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/udsgs1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Solar Panel Cleaning Market Report and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global solar panel cleaning market attained significant market value in 2020. Aided by rapid adoption of solar photovoltaics, the market is projected to grow at a CAGR of 17.1% between 2021 and 2026.
Companies Mentioned
Solar panel cleaning is the act of removing collected elements from the panel surface, such as dust, bird droppings, and ashes from wildfires. When collected particles act as a barrier between the sunlight and the panels, this procedure is used to regain the PV's power conversion capabilities. Additionally, several approaches are used throughout the process due to their usefulness in recovering module efficiency and giving improved power output.
The cleaning enhances photovoltaics' power conversion performance, which has been deteriorating due to obstruction caused by undesired objects on the panel surface. Rising solar PV installation trends along with decreasing overall unit cost will drive the industry potential. The growing focus toward panel efficiency optimisation, followed by increasing renewable integration across the global energy mix will positively stimulate the industry landscape. The overall cost of solar panels has decreased as a result of technological advancements, boosting the solar panel cleaning industry's growth. The overall cost of solar panels has decreased as a result of technological advancements, boosting the solar panel cleaning industry's growth.
Stringent environmental norms coupled with favourable government incentives and subsidies toward the deployment of solar PV will further fuel the service adoption. The growing customer inclination toward eco-friendly cleaning methods coupled with the adoption of advanced technologies to effectively remove the accumulated particles without affecting the modules will positively propel the industry landscape. The accessibility of organic chemicals as a substitute for water-based cleaning techniques will complement the product adoption. Moreover, low unit cost, high reliability and easy accessibility are some major features that will stimulate the product demand. The region's rising industrialisation is fuelling the rise of the solar power industry, which is driving up demand for solar panel cleaning.
Key Topics Covered:
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Solar Panel Cleaning Market Analysis
8.1 Key Industry Highlights
8.2 Global Solar Panel Cleaning Historical Market (2016-2020)
8.3 Global Solar Panel Cleaning Market Forecast (2021-2026)
8.4 Global Solar Panel Cleaning Market by Technology
8.5 Global Solar Panel Cleaning Market by Process
8.6 Global Solar Panel Cleaning Market by Operation
8.7 Global Solar Panel Cleaning Market by Application
8.8 Global Solar Panel Cleaning Market by Region
9 Regional Analysis
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter's Five Forces Analysis
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
12 Industry Events and Developments
For more information about this report visit https://www.researchandmarkets.com/r/yxa1y3
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Laura Wood, Senior Press Manager
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Team Comprised of Director of Fly-By-Wire Control System, Sergio Ferreira, Director of Vehicle Management Systems, Damien Bardon and Flight Control and Avionics Program Lead, Perrine Mathieu
PALO ALTO, Calif.--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR), a leading developer of electric vertical takeoff and landing (eVTOL) aircraft, has constructed a best-in-class Flight Control and Software team as the company ramps up to its first flight later this year recently appointing Sergio Ferreira to lead the company’s fly-by-wire flight control system development. Ferreira brings two decades of experience developing, integrating, validating, verifying and certifying fly-by-wire flight control systems. He joins Archer after nearly 10 years with Gulfstream Aerospace, where he most recently was the Flight Control Systems Lead for Advanced Aircraft Systems. Previously he was Gulfstream's Flight Control Systems lead for the Gulfstream G400, G500 and G600 fly-by-wire flight control systems, where he was responsible for the development, integration, validation and certification of the flight control computers for that aircraft family. Ferreira’s decades of aviation experience will strengthen the Flight Control and Software team as Archer moves closer to first flight.
“This is an exciting time for Archer and the broader aviation industry. I’m thrilled to have the opportunity to work on the flight control system that will undergird the entire aircraft and usher in the future of air travel,” said Sergio Ferreira. “Fly-by-wire systems leverage computational power and electronics to simplify operation and reduce pilot workload. At the same time, they provide protection functions, allowing us to design an aircraft as safe as it is innovative. Through Archer, I’m looking forward to pushing the industry forward as we look towards the transportation of tomorrow.”
Damien Bardon, one of Archer’s earliest employees, is assuming the role of Director of Vehicle Management Systems. In this position, Bardon will lead the Flight Control and Software team in the development of the essential aircraft components that enable control of the aircraft.
Prior to his time with Archer, Bardon spent several years at ACubed, Airbus’ Silicon Valley innovation center, leading the avionics development for the Vahana eVTOL demonstrator. He led the development of the Vahana avionics systems from an early concept up to the completion of a successful flight test campaign. He has significant experience working with avionics components around navigation, communication, flight controls, embedded flight software and other complex aircraft systems that make fly-by-wire flight controls possible.
“It’s a privilege to be a part of a company like Archer that is paving the way for urban air mobility,” said Bardon. “Our work developing and implementing the systems that ultimately control the aircraft will be critical towards achieving first flight and other milestones.”
Rounding out the Flight Control and Software team is Perrine Mathieu, Flight Controls and Avionics Program Lead. She will work alongside Bardon, Ferreira and the broader team and will be accountable for the development and implementation of the fly-by-wire flight control system of Archer’s production aircraft. She brings experience with aviation flight control and vehicle management systems, most recently with Bell, where she was responsible for vehicle management systems. At Bell, Mathieu led the development and implementation of software development, flight controls, avionics, electrical systems and handling qualities across several platforms.
Prior to her time at Bell, Mathieu worked as a design engineer for Triumph Aerostructures, in the Vought Aircraft Division. Her broad range of experience in the aviation industry further strengthens the Flight Control and Software team as Archer continues to work towards achieving its flying goals.
“It is an incredible opportunity to work with this team at Archer that is so full of talent and experience, I am excited to contribute to the development of the aircraft and the industry as a whole,” said Perrine Mathieu.
“In the last year, Archer has hired some of the best and brightest from the aviation community to transform how we move around cities,” said Brett Adcock, Archer co-founder and co-CEO. “It’s thanks to this team that we’ve accomplished so much in such a short time and sit at the precipice of achieving our next milestone, first flight.”
“Damien, Sergio and Perrine have decades of flight control and systems experience and are exceptional additions to the Archer team,” said Adam Goldstein, Archer co-founder and co-CEO. “We are excited to share their contributions as we move closer to first flight and to making sustainable urban air mobility a reality.”
Continue to follow along with Archer’s journey via www.archer.com.
About Archer
Archer’s mission is to advance the benefits of sustainable air mobility. Archer’s goal is to move people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility. Archer's team is based in Palo Alto, CA. To learn more, visit www.archer.com.
Source: Archer
Text: ArcherIR
For Media
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Archer
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NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, has become a member of the Fair Cobalt Alliance ("FCA") to underscore FREYR’s commitment to developing a sustainable global battery industry.
The FCA is a multi-stakeholder action platform committed to developing responsible and fair supply of artisanal mined cobalt from the Democratic Republic of Congo, creating and diversifying sustainable livelihoods for surrounding communities. The FCA focuses on economic diversification, improving worker conditions at mine sites and supporting child rights.
“We are undergoing a major energy transition, moving from fossil fuels to battery-powered technology. Cobalt is one of the essential components in battery production and we are focused on sustainable supply of cobalt to support our production of clean, low-cost and low-carbon battery cells for a better planet,” said Tom Einar Jensen, the CEO of FREYR. “This alliance is an important arena for us to drive impact by making investments to empower the people working in the artisanal mines, as well as the communities around them.”
FCA executive director Dr. Assheton Carter said: “We welcome FREYR to the Fair Cobalt Alliance. They join other industry players in recognizing the legitimacy of cobalt from responsible artisanal mining operations and commit to investing in action to make artisanal mines safer, minimize environmental impact and create better working conditions for people working at the mines.”
One of the world’s largest global diversified natural resource companies, Glencore announced its membership of the FCA in 2020. In November, FREYR and Glencore announced a contract for recycled and sustainable supply of cobalt.
FREYR is committed to developing responsible and sustainable supply chains for battery materials. The FREYR Supplier Code of Conduct sets the company’s sustainability expectations to its suppliers.
About FREYR Battery
FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 with an ambition of up to 83 GWh in total capacity by 2028 to position the company as one of Europe’s largest battery cell suppliers. Five of the facilities are planned to be in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear, and energized environment. FREYR aims to supply safe, high-energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.
About the Fair Cobalt Alliance
The Fair Cobalt Alliance (FCA) is a multi-stakeholder action platform launched in August 2020 that brings together actors from across the entire cobalt mineral supply chain to provide an answer to increasing scrutiny on the cobalt artisanal mining (ASM) industry and the DRC mining sector. Its purpose is to assist in the building of a DRC cobalt mining sector that is known to be a responsible partner in providing the minerals needed for a new green economy. This includes mobilizing the resources of the whole supply chain to deliver technical assistance and investment to realize the vision of a formal, fair, and safe ASM cobalt sector. To find out more, visit: https://www.faircobaltalliance.org/
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding FREYR's ability to utilize a sustainable supply of cobalt to support its production of clean, low-cost and low-carbon battery cells, the development of responsible and sustainable supply chains for battery materials, the move from fossil fuels to battery-powered technology, the development of a sustainable global battery industry and the development of responsible and fair supply of artisanal mined cobalt creating economic diversification and improving worker conditions are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the "SEC") on August 9, 2021, as amended, in FREYR's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 15, 2021, and in other SEC filings available on the SEC’s website at www.sec.gov.
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Media contacts:
Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 9920 54 570
Helen Embleton
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(+44) 7935 056408
CAMPBELL, Calif.--(BUSINESS WIRE)--Velo3D, Inc. (NYSE: VLD), a leading additive manufacturing technology company for mission-critical metal parts, announced today that Benny Buller, CEO, will speak at the Credit Suisse 25th Annual Technology Conference on December 1, 2021 at 9:55 a.m. Pacific Time.
The live webcast and replay of the presentation can be accessed from the Events page of the Investor Relations section of Velo3D’s website at ir.velo3d.com.
About Velo3D:
Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.
Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow™ print preparation software, the Sapphire® family of printers, and the Assure™ quality control system—all of which are powered by Velo3D’s Intelligent Fusion® manufacturing process. The company delivered its first Sapphire® system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. For more information, please visit velo3d.com, or follow the company on LinkedIn or Twitter.
Investor Relations:
Velo3D
Bob Okunski, VP Investor Relations
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Media Contact:
Velo3D
Dan Sorensen, Senior Director of PR
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DUBLIN--(BUSINESS WIRE)--The "Marine Fleet Management Software Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
A latest study collated and published analyzes the historical and present-day scenario of the global marine fleet management software market to accurately gauge its potential future development.
The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the marine fleet management software market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the marine fleet management software market is expected to progress during the forecast period of 2021-2031.
The report offers intricate dynamics about the different aspects of the marine fleet management software market that aids companies operating in the market in making strategic development decisions. This study elaborates on the significant changes that are highly anticipated to configure the growth of the marine fleet management software market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the marine fleet management software market, and estimates statistics related to the market progress in terms of value (US$ Mn).
The study covers a detailed segmentation of the marine fleet management software market, along with country analysis, key information, and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the marine fleet management software market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Companies Mentioned
Key Questions Answered in this Report on Marine Fleet Management Software Market
Key Topics Covered:
1. Preface
2. Assumptions and Research Methodology
3. Executive Summary - Global Marine Fleet Management Software Market
4. Market Overview
4.1. Market Definition
4.2. Technology/ Product Roadmap
4.3. Market Factor Analysis
4.3.1. Forecast Factors
4.3.2. Ecosystem/ Value Chain Analysis
4.3.3. Market Dynamics (Growth Influencers)
4.3.3.1. Drivers
4.3.3.2. Restraints
4.3.3.3. Opportunities
4.3.3.4. Impact Analysis of Drivers and Restraints
4.4. COVID-19 Impact Analysis
4.4.1. Impact of COVID-19 on Marine Fleet Management Software Market
4.4.2. End-user Sentiment Analysis: Comparative Analysis on Spending
4.4.2.1. Increase in Spending
4.4.2.2. Decrease in Spending
4.4.3. Short Term and Long Term Impact on the Market
4.5. Overview of Marine Fleet Management, by Geography of Operation
4.5.1. Deep-sea shipping
4.5.2. Short-sea shipping
4.5.3. Coastal shipping
4.5.4. Inland waterways
4.6. Market Opportunity Assessment - by Region (North America/ Europe/ Asia Pacific/ Middle East & Africa/ South America)
4.6.1. By Component
4.6.2. By Deployment Type
4.6.3. By End-user
5. Global Marine Fleet Management Software Market Analysis and Forecast
5.1. Market Revenue Analysis (US$ Mn), 2016-2031
5.1.1. Historic Growth Trends, 2016-2020
5.1.2. Forecast Trends, 2021-2031
5.2. Pricing Model Analysis/ Price Trend Analysis
6. Global Marine Fleet Management Software Market Analysis, by Component
7. Global Marine Fleet Management Software Market Analysis, by Deployment Type
8. Global Marine Fleet Management Software Market Analysis, by End-user
9. Global Marine Fleet Management Software Market Analysis and Forecast, by Region
10. North America Marine Fleet Management Software Market Analysis
11. Europe Marine Fleet Management Software Market Analysis and Forecast
12. APAC Marine Fleet Management Software Market Analysis and Forecast
13. Middle East & Africa (MEA) Marine Fleet Management Software Market Analysis and Forecast
14. South America Marine Fleet Management Software Market Analysis and Forecast
15. Competition Landscape
15.1. Market Competition Matrix, by Leading Players
15.2. Market Revenue Share Analysis (%), by Leading Players (2020)
16. Company Profiles
17. Key Takeaways
For more information about this report visit https://www.researchandmarkets.com/r/fc5vwi
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) (the “Company”) today announced that it has commenced offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) up to $250,000,000 aggregate principal amount of its outstanding senior notes listed in the table below, subject to the terms and conditions described in the Company’s Offer to Purchase dated November 23, 2021 (the “Offer to Purchase”).
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Dollars per U.S. $1,000 Principal Amount of Notes |
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Title of Notes |
CUSIP
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Aggregate
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Acceptance
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Tender Offer
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Early
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Total
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2025 Notes(3) |
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4.95% Senior Notes due 2025 |
845467AL3 |
$689,454,000 |
1 |
$1,075 |
$30 |
$1,105 |
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2027 Notes: |
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7.75% Senior Notes due 2027 |
845467AN9 |
$440,007,000 |
2 |
$1,060 |
$30 |
$1,090 |
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(1) |
Does not include accrued interest, which will also be payable as provided herein. |
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(2) |
Includes the Early Tender Premium. |
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(3) |
On April 7, 2020, S&P downgraded the Company’s bond rating to BB-, which had the effect of increasing the interest rate on the 2025 Notes to 6.45% following the July 23, 2020 interest payment date. The first coupon payment to the holders of the 2025 Notes at the higher interest rate was paid in January 2021. Following the closing of Southwestern’s acquisition of Indigo Natural Resources LLC, S&P upgraded the Company’s bond rating to BB, which had the effect of decreasing the interest rate on the 2025 Notes to 6.20%, beginning with coupon payments paid after January 2022. On November 4, 2021 S&P placed the Company on CreditWatch Positive for an upgrade to BB+ upon closing of the GEPH Merger (as defined below), assuming no changes to their assumptions. This ratings upgrade, if received, would result in a further reduction on the interest rate on the 2025 Notes to 5.95% beginning with coupon payments paid after January 2022. |
Specifically, the Company is offering to purchase for cash (i) its 4.95% Senior Notes due 2025 (the “2025 Notes”) and (ii) its 7.75% Senior Notes due 2027 (the “2027 Notes” and, together with the 2025 Notes, the “Notes”) in an aggregate principal amount of up to $250,000,000 (the “Maximum Tender Amount”) and, with respect to the 2027 Notes, subject to a maximum principal amount equal to the lesser of (x) the Maximum Tender Amount minus the principal amount of 2025 Notes tendered at or prior to the Expiration Date and (y) $100,000,000 (the “2027 Tender Sub Cap”), at the respective purchase prices set forth below. As a result of the 2027 Tender Sub Cap and the proration provisions described below, and subject to any of the conditions contained in the Offer to Purchase, any 2025 Notes validly tendered in the Tender Offers will be accepted in priority to 2027 Notes tendered in the Tender Offers.
The Company intends to purchase up to the Maximum Tender Amount, subject to the 2027 Tender Sub Cap, of the 2025 Notes and the 2027 Notes validly tendered (and not validly withdrawn), subject to the conditions contained within the Offer to Purchase. If the principal amount of 2025 Notes tendered exceeds the Maximum Tender Amount at the Expiration Date (as defined below), including the 2025 Notes tendered at the Early Tender Time, all of the 2025 Notes tendered will be subject to proration based on the total principal amount of 2025 Notes tendered at or prior to the Expiration Date. In addition, if the Maximum Tender Amount is met or exceeded by the aggregate principal amount of tendered 2025 Notes, the Company will not purchase any 2027 Notes. If the principal amount of 2025 Notes does not exceed the Maximum Tender Amount at the Expiration Date, all of the 2027 Notes tendered, subject to the 2027 Tender Sub Cap, will be subject to proration based on the total principal amount of 2027 Notes tendered at or prior to the Expiration Date.
The Tender Offers will expire at 5:00 p.m., New York City time, on December 29, 2021, unless extended or terminated by the Company (the “Expiration Date”). No tenders submitted after the Expiration Date will be valid. Holders of Notes that are validly tendered (and not validly withdrawn) at or prior to 5:00 p.m., New York City time, on December 7, 2021 (subject to extension, the “Early Tender Time”) pursuant to the applicable Tender Offer will be eligible to receive the total consideration that includes the early tender premium for such series of Notes set forth in the table above (the “Early Tender Premium” and, together with the applicable Tender Offer Consideration (as defined below), the “Total Consideration”) for each $1,000 principal amount of their Notes accepted for purchase pursuant to the applicable Tender Offer. Holders of Notes validly tendering their Notes after the Early Tender Time will not be eligible to receive the Early Tender Premium and will be eligible to receive only the applicable tender offer consideration set forth in the above table (with respect to each series of Notes, the “Tender Offer Consideration”) for each $1,000 principal amount of their Notes accepted for purchase pursuant to the applicable Tender Offer. All Notes accepted for purchase pursuant to the Tender Offers will also receive accrued and unpaid interest on such Notes from the last interest payment date with respect to those Notes to, but not including, the settlement date.
Notes that have been tendered may be withdrawn from the applicable Tender Offer prior to 5:00 p.m., New York City time, on December 7, 2021 (subject to extension, the “Withdrawal Deadline”). Holders of Notes tendered after the Withdrawal Deadline cannot withdraw their Notes unless the Company is required to extend withdrawal rights under applicable law. The Company reserves the right, but is under no obligation, to increase the Maximum Tender Amount and/or 2027 Tender Sub Cap at any time, subject to applicable law. If the Company increases the Maximum Tender Amount and/or 2027 Tender Sub Cap, it does not expect to extend the applicable Withdrawal Deadline, subject to applicable law.
The settlement date is expected to occur on December 30, 2021, the first business day following the Expiration Date.
The Tender Offers are not conditioned on the tender of any minimum principal amount of Notes or the consummation of the other Tender Offer in respect of any other series of Notes. However, the Tender Offers are subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the Company having received proceeds from one or more debt financings of at least $1.65 billion aggregate principal amount (the “Financing”) and completion of the merger of GEP Haynesville, LLC (“GEPH”) with and into a subsidiary of Southwestern (the “Merger Condition”), with GEPH surviving the merger (the “GEPH Merger”). The Company reserves the right to waive the any conditions to the Tender Offers and, subject to applicable law, to modify or terminate the Tender Offers.
The purpose of the Tender Offers is to purchase the Notes, thus retiring debt.
RBC Capital Markets, LLC and Wells Fargo Securities, LLC are the Lead Dealer Managers in the Tender Offers and BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. are Co-Dealer Managers in the Tender Offers. Global Bondholder Services Corporation has been retained to serve as the Tender Agent and Information Agent for the Tender Offers. Persons with questions regarding the Tender Offers should contact RBC Capital Markets, LLC at (toll free) (877) 381-2099 or (collect) (212) 618-7843 and Wells Fargo Securities, LLC at (toll free) (866) 309-6316 or (collect) (704) 410-4756. Requests for the Offer to Purchase should be directed to Global Bondholder Services Corporation at (toll free) (866) 807-2200 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it..
None of the Company, the Dealer Managers, the Tender and Information Agent, the trustees or any of their respective affiliates (x) makes any recommendation that holders of Notes tender or refrain from tendering all or any portion of the principal amount of their Notes, and no one has been authorized by any of them to make such a recommendation or (y) except as expressly set forth herein with respect to the Company, the Dealer Managers, the Tender and Information Agent or any of their respective affiliates, makes any representations or warranties. The trustees do not assume any responsibility for the accuracy or completeness of the information concerning the Company, its affiliates or the Notes contained herein or any failure by the Company to disclose events that may have occurred and may affect the significance or accuracy of that information. Holders of Notes must make their own decision as to whether to tender their Notes, and, if so, the principal amount of Notes as to which action is to be taken.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Tender Offers are required to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of the Company by the Dealer Managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About Southwestern Energy Company
Southwestern Energy Company is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution.
Forward-Looking Statements
Certain statements and information in this news release may constitute “forward-looking statements.” Forward-looking statements relate to future events, including, but not limited to the Tender Offers and the Financing. The words “believe,” “expect,” “anticipate,” “plan,” “predict,” “intend,” “seek,” “foresee,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “project,” “potential,” “may,” “will,” “likely,” “guidance,” “goal,” “model,” “target,” “budget” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, Southwestern Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Management cautions you that the forward-looking statements contained herein are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements herein include, but are not limited to: completion of the GEPH Merger; the timing and extent of changes in market conditions and prices for natural gas, oil and natural gas liquids, including regional basis differentials and the impact of reduced demand for our production and products in which our production is a component due to governmental and societal actions taken in response to COVID-19 or other public health crises and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets; our ability to fund our planned capital investments; a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate; the extent to which lower commodity prices impact our ability to service or refinance our existing debt; the impact of volatility in the financial markets or other global economic factors; difficulties in appropriately allocating capital and resources among our strategic opportunities; the timing and extent of our success in discovering, developing, producing and estimating reserves; our ability to maintain leases that may expire if production is not established or profitably maintained; our ability to realize the expected benefits from acquisitions; costs in connection with acquisitions and transactions contemplated thereby; integration of operations and results subsequent to acquisitions; our ability to transport our production to the most favorable markets or at all; the impact of government regulation, including changes in law, the ability to obtain and maintain permits, any increase in severance or similar taxes, and legislation or regulation relating to hydraulic fracturing, climate and over-the-counter derivatives; the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally; the effects of weather; increased competition; the financial impact of accounting regulations and critical accounting policies; the comparative cost of alternative fuels; credit risk relating to the risk of loss as a result of non-performance by our counterparties; and any other factors listed in the reports we have filed and may file with the Securities and Exchange Commission that are incorporated by reference herein. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Company expands technical leadership with appointment of Mr. David Allen
CALGARY, Alberta--(BUSINESS WIRE)--#NAH--North American Helium Inc. (“NAH” or the “Company”) today announced the Company recently closed a non-brokered common share equity financing of approximately $127 million. Proceeds from the financing will be used to, among other things, advance the Company’s active exploration and development plan for the 2021/22 drilling season and to bring additional helium production online in 2022.
This current round of financing was led by XM Capital Partners Opportunity Fund LP, a new investor in NAH, with significant participation from existing institutional shareholders.
“I would like to thank our existing shareholders for their continued support and welcome XM Capital Partners as a significant new shareholder. This financing, along with internally generated cash flow, positions us to have maximum flexibility to develop multiple production assets simultaneously, and to support our strategy of building a platform to provide reliable long-term sources of green helium supply in North America.” stated Mr. Nicholas Snyder, Chairman and Chief Executive Officer. Mr. Snyder continued:
“With the increased focus on the sustainability and reliability of supply chains globally, our company is uniquely positioned to help ensure that there will be sufficient helium supplies into the future for the rapidly growing space exploration and semiconductor manufacturing industries. In our view, the Government of Saskatchewan continues to recognize the importance of this industry and this month launched the Helium Action Plan, which provides policy and program commitments to support and grow green helium production in the province.”
EXECUTIVE APPOINTMENT
The Company also announces the appointment of Mr. David Allen in the role of Executive Vice President, Exploration and Planning. Dave is a geologist with over 35 years of experience in senior leadership roles across broad business functions. Dave has extensive experience working with diverse teams to build, characterize, and optimize drilling prospect inventories for use in guiding corporate asset acquisition and capital programming activities.
Dave will be spearheading the classification and prioritization of growth opportunities across the Company’s five-million-acre land position, working collaboratively with the geology and geophysics teams to advance tactical and strategic growth initiatives. He will also be actively involved in engineering and long-term planning as the Company increases production and continues to build a regional green helium hub in Saskatchewan, Canada.
Mr. Marlon McDougall, President and Chief Operating Officer added, “It is a very exciting time at NAH as we have entered a significant growth phase. In order to meet these expectations, we will continue to expand roles and functions as necessary in order to build on our reputation as the leading helium exploration and production company in North America. I’m happy to have someone of Dave’s caliber onboard to help drive this effort.”
UPCOMING CONFERENCE PARTICIPATION
The Company has been invited to participate in the Helium Super Summit 2021 in Houston, Texas, which is set to take place from December 7th – 9th, 2021. This event provides a forum for helium market and technological discussions by various leading industry participants, analysts, and experts.
Mr. Marlon McDougall will be presenting at the event.
Presentation date: December 9, 2021
Time: 12:30pm CST
ABOUT NORTH AMERICAN HELIUM INC.
NAH has been the most active helium driller in Saskatchewan with over 30 wells drilled to date. The Company plans to have a continuous capital investment program, which will include acquisition of additional third-party and proprietary seismic data, drilling 15-20 wells per year, and concurrently building additional helium processing facilities as new fields are developed.
Founded in 2013, North American Helium is a Calgary-based, private helium exploration and production company. To our knowledge, NAH is the only company in the past 40 years to successfully explore for and discover new economic fields of high helium gas in North America. Over the past several years, NAH has made four new discoveries and acquired rights to explore for and produce helium on a land base of over 5.0 million contiguous acres, primarily in Saskatchewan, Canada and Utah, USA. The Company owns and operates Canada’s largest helium purification facility, providing reliable, long-term North American supply of this scarce resource to meet growing demand. For more information please visit: https://nahelium.com.
ABOUT HELIUM
Helium is an inert gas produced by the decay of uranium and thorium that can be trapped in underground reservoirs proximal to the source. Its unique physical properties make it vital for several high technology applications where there is often no substitute. Helium's low boiling point and non-reactive nature make it vital for the pressurization and purging of liquid fuels in rockets for space exploration and satellite infrastructure. Helium is also required for semiconductor manufacturing, MRI machines and certain welding applications due to its high heat capacity. A well-known but minor use is as a lifting gas in balloons and airships.
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Note: All financial figures are in Canadian dollars unless otherwise noted.
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 the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will be pursuant to available prospectus exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions, and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.
Legal Notice Regarding Forward Looking Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include statements with respect to use of proceeds, operational plans, and plans for increased production and building at certain properties held by the Company. Several factors could cause actual results to be materially different from such statements including market conditions. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.
FOR INVESTOR AND MEDIA INQUIRIES:
Marlon McDougall, President & COO
North American Helium Inc.
Clayton Paradis, Vice President
Incite Capital Markets
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