IOTech's IoT platforms, Edge Xpert® and Edge XRT® enable Google Cloud customers to extract and process data from a broad range of OT devices at the edge
EDINBURGH, Scotland--(BUSINESS WIRE)--$Google #Buildingautomation--Edge software provider IOTech announced today it is expanding its partnership with Google Cloud to offer smart and integrated edge-cloud solutions for enterprise companies. With this partnership, industrial users including manufacturing, building automation, and smart energy can now deploy smart, no-code and integrated edge-cloud solutions at scale.
This expanded partnership will impact industrial IoT deployments which come with certain challenges including OT/IT integration. The northbound communication protocol to Google Cloud is typically MQTT or REST while the southbound communication protocols include Modbus, BACnet, Ethernet/IP, S7, OPC-UA and many more. Other challenges industrial users face include the ability to extract data from old and legacy IoT devices and the ability to control what data specifically is sent to Google Cloud, mainly for security, latency and/or cost reasons. Edge computing capabilities and features therefore play an increasingly important role in industrial IoT.
The partnership allows the industrial user to deploy a smart, no-code and integrated edge-cloud solution at scale. IOTech’s Edge Xpert typically resides on the edge gateway or server level while Edge XRT can reside on legacy or resource constrained hardware such as MCUs and PLCs, typically found at the far edge. Both platforms come with 20 plus OT connectors including Modbus, BACnet, Ethernet/IP, S7, OPC-UA, and many more. The platforms also include an SDK making it easy for customers to build new OT connectors, if required. Seamless data integration with Google Cloud is provided as standard.
“IOTech is excited to be a Google Cloud Edge ISV partner. The integrated edge-cloud solution allows for fast deployments, significantly reducing the time to value. Adding an OT device is enabled through simple configuration and no coding skills are required,” said Keith Steele, CEO of IOTech Systems.
About IOTech
IOTech builds and deploys vendor-neutral software platforms and tools to support the rapid development, deployment, and management of applications at the IoT edge helping drive IoT innovation, global market adoption, velocity and scale. The company’s products address the full spectrum of secure hard and soft real-time edge computing needs, dramatically reducing time to market, development and system integration costs for its partners, who are the supply chains to multiple vertical IoT market domains. IOTech leverages an open-source ecosystem to collaboratively improve time to market, develop global channel partnerships and achieve pervasive adoption of its software products.
Ken Zeszutko, Z Corp PR & Digital, 321-213-1818 / This email address is being protected from spambots. You need JavaScript enabled to view it.
WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, announced today that it was recognized by Chemical Week for Best Sustainable Product by an Emerging Company, as part of Chemical Week’s Sustainability Awards 2021.
The award recognizes emerging chemical companies with a product (or range of products) whose design and innovation serve a sustainable or environmental purpose. Award recipients will be honored during Chemical Week's Financial Outlook Forum and Sustainability Awards, taking place November 17th-18th.
“On behalf of the Origin Materials team, we are thrilled to accept this award for Best Sustainable Product by an Emerging Company. We created Origin to make a difference in the fight against climate change through our patented, breakthrough platform technology, which produces sustainable and recyclable carbon negative materials from wood residue,” said Origin Materials co-CEO John Bissell. “We are honored to be recognized by Chemical Week and extend our congratulations to our fellow award winners today.”
For more about the awards winners, see Chemical Week’s press release here.
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.
For more information, visit www.originmaterials.com.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Origin Materials’ business strategy and estimated total addressable market. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Origin Materials and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Origin Materials. These forward-looking statements are subject to a number of risks and uncertainties, including that Origin Materials may be unable to successfully commercialize its products; the effects of competition on Origin Materials’ business; disruptions and other impacts to Origin Materials’ business as a result of the COVID-19 pandemic and other global health or economic crises; changes in customer demand; failure to realize the anticipated benefits of the business combination; and those factors discussed in the Quarterly Report on Form 10-Q filed with the SEC on November 12, 2021 under the heading “Risk Factors,” and other documents Origin Materials has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Origin Materials presently does not know, or that Origin Materials currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Origin Materials’ expectations, plans, or forecasts of future events and views as of the date of this press release. Origin Materials anticipates that subsequent events and developments will cause its assessments to change. However, while Origin Materials may elect to update these forward-looking statements at some point in the future, Origin Materials specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Origin Materials’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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OAKLAND, Calif.--(BUSINESS WIRE)--Navis, a global provider of planning and scheduling software for freight railroads, has announced that Aurizon Bulk, part of the largest rail operator in Australia, has agreed to contract for the Navis Rail Operations System. This cloud-based software will be used to support Aurizon’s Bulk East corporate planning process. Navis will deliver integrated modules to support Aurizon’s locomotive, and crew shift and roster planning functions to improve planning and asset efficiencies.
The Navis Rail Operations System uses an intuitive user interface to apply specialized algorithmic and quantitative analysis tools to quickly build and test service design scenarios, including locomotive and crew planning. The platform also employs an integrated model of resources so that changes to the locomotive deployment plans or network details will be available for crew schedule and roster optimization and vice versa.
Previous implementations of the Navis Rail software have uncovered substantial savings in locomotives, wagons, and crews. According to Tom Forbes, the Head of Navis Rail, “Railways not only need the quantitative tools for optimizing asset utilization; they also need to develop plans and perform ‘what-if’ analysis with a finite amount of staffing. Systems such as Navis Rail help to preserve the institutional knowledge of a rail organization, which is endangered in the current business environment.”
Forbes also remarked that the supply chain issues that are stressing many businesses globally need new tools to keep up with rapid-fire changes in customer’s requirements. “The use of optimization to analyze changes in demand volumes and to quickly test new service design variations are absolutely necessary in today’s transportation environment.” Navis Rail has been working with Aurizon for several years on other projects and they have developed a great working relationship which will extend into the current engagement.
For more information on Navis Rail, visit; https://www.navis.com/en/products/rail-solutions
About Navis, LP
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain, making global trade smarter, safer and more sustainable for everyone. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
Tom Forbes
Navis, LLC
T+1 312 619 9969
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This is SDG&E’s second national award and 16th consecutive year it has received the ReliabilityOne® Award for Outstanding Reliability Performance among utilities on the West Coast
SAN DIEGO--(BUSINESS WIRE)--In recognition of San Diego Gas & Electric’s (SDG&E) continued superior performance and innovation in the utility industry, PA Consulting honored the company on Wednesday with three of its most prestigious awards: Outstanding Reliability Performance in the West Region Metropolitan Service Area (also known as the “Best in the West”), Outstanding Grid Sustainability, and the ReliabilityOne® National Reliability award.
“For 21 years, the ReliabilityOne® Awards have highlighted outstanding electric utility providers who are focused on resiliently building a more positive future for their customers,” said Gregg Edeson, PA Consulting’s ReliabilityOne® Program Director. “We are pleased to name San Diego Gas and Electric Company as an industry leader for delivering outstanding service and restoration efforts while balancing customer needs and optimizing investments.”
SDG&E has invested in innovative, state-of-the-art technologies and programs since 2007 that have made it an industry leader in wildfire safety, grid resiliency and sustainability. The company has implemented grid hardening efforts and integrated enhanced situational awareness tools, like wildfire modeling and drones, to identify potential wildfire risks and reduce customer impacts associated with outages.
“It is an honor to be recognized at a national level by PA Consulting in this year’s ReliabilityOne® awards,” said Caroline Winn, SDG&E’s chief executive officer. “Innovation and progress are at the heart of our company culture and we will continue to pursue every opportunity to enhance grid resiliency, advance sustainability and keep our region safe in the face of a dynamic climate and worsening wildfire threat conditions.”
While the company shared the national stage with Florida Power & Light, this is also the 16th consecutive year that SDG&E has received the ReliabilityOne® Award for ‘Outstanding Reliability Performance’ among utilities in the West. To be named the most reliable utility in a metropolitan service area in the Western United States means electricity is available when customers need it, 24 hours a day, 365 days a year, with fewer interruptions than elsewhere in the West. The ReliabilityOne® Awards are given annually to utilities in eight regions that have excelled in delivering the most reliable electric service to its customers.
The award is also especially meaningful to the company given the operational challenges brought on by the ongoing pandemic. “It is a reflection of the work of our 4,500 incredible employees who show up each day to advance this mission and provide the safest, cleanest and most reliable service to our customers,” said Winn.
Despite the challenges the past two years have presented, utility workers continued to show up to carry out essential services, hardening efforts, repairs and maintenance to keep the lights on for 3.6 million customers in San Diego and Southern Orange counties, many of whom depended on reliable energy service more than ever before due to stay at home orders.
“Our IBEW 465 Union Utility Workers are extremely proud of the national recognition SDG&E is receiving for reliability,” said Nate Fairman, Business Manager for the International Brotherhood of Electrical Workers (IBEW) Local Labor Union 465. “These awards are earned through hard work, dedication and commitment from our frontline employees as well as a strong partnership with the communities we serve. These awards are shared with every single worker who helped keep the lights on during these challenging times.”
The IBEW Local 465 represents roughly 2,800 active members throughout San Diego and Imperial Counties, approx. 1,500 of which lend their unique talents to San Diego Gas & Electric.
“Our partnership with the IBEW Local Labor Union 465 has been essential to ensuring our customers receive safe and reliable energy during some of our most challenging times as a company,” said Winn. “We share this award with them and the crews who go above and beyond with their craft and unique skills to modernize our infrastructure and strengthen the grid.”
SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing natural gas pipelines; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter (@SDGE), Instagram (@SDGE) and Facebook.
About PA Consulting
We believe in the power of ingenuity to build a positive human future in a technology-driven world. As strategies, technologies and innovation collide, we create opportunity from complexity. Our diverse teams of experts combine innovative thinking and breakthrough use of technologies to progress further, faster. Our clients adapt and transform, and together we achieve enduring results. An innovation and transformation consultancy, we are 3,300 specialists in consumer and manufacturing, defense and security, energy and utilities, financial services, government and public services, health and life sciences, and transport. Our people are strategists, innovators, designers, consultants, digital experts, scientists, engineers and technologists. We operate globally from offices across the UK, US, Netherlands and Nordics. Discover more at paconsulting.com and connect with PA on LinkedIn and Twitter. PA. Bringing Ingenuity to Life.
PA Consulting’s ReliabilityOne® awards are presented to electric utilities providing their customers with the highest levels of reliability in the industry. PA Consulting’s ReliabilityOne® study is based on standard industry reliability statistics that measure the frequency and duration of electric power outages. ReliabilityOne® participants on average experienced 44% fewer sustained outages, and outages were 55% shorter than the average US investor owned utility. PA Consulting has been analyzing electric utility performance since 1987. For more information about PA Consulting, visit www.paconsulting.com/energy.
Media Contact:
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San Diego Gas & Electric
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sdge.com
Twitter: @sdge
Industrial Smart Contract Network Recognized for its Potential to Transform the Energy Industry
HOUSTON--(BUSINESS WIRE)--#ADIPEC--Data Gumbo, the industrial smart contract network company, today announced that it has been named as the Oil and Gas Start Up Company of the Year at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) Awards Gala — the largest annual oil and gas awards event in the Middle East.
Data Gumbo was recognized for its potential to reshape the energy industry based on its continued innovation, strong business model and the impressive impact of its global industrial smart contract network. The company was also acknowledged for its work with global energy players, including its collaboration with Blockchain for Energy to automate produced water haulage from field reading to invoice payment, and its pilot to automate production chemical delivery with a Texas-based hydrocarbon exploration company and a multinational chemical company.
“Our industrial smart contract network, GumboNet, offers the new gold standard for organizations to execute business better through guaranteed transactional certainty across commercial relationships,” said Andrew Bruce, CEO and Founder, Data Gumbo. “It’s an honor to be recognized by ADIPEC for our work and commitment to expanding our network across the global energy industry, allowing companies to eliminate the lack of trust in industrial sectors, streamline contract execution and capture significant cost savings.”
GumboNet™ is the only smart contract network that successfully incorporates real-time sensor level and field data to validate transactions and connect companies, suppliers and vendors in a secure, trusted network to eliminate 95% of payment delays, overpayments, disputes, and complicated reconciliations, saving organizations more than 10% on the cost of contract execution.
Now in its 11th year, the ADIPEC Awards honor the projects, innovators and ideas at the forefront of the energy industry’s transformation as it responds to the accelerating demand for sustainable energy and moves to a net-zero carbon future. To determine the winners, an independent jury of global energy leaders reviewed more than 700 entries from over 50 countries, handpicking the industry’s best-in-class that demonstrated digitalization, sustainability, research, innovation and more.
To read more about the ADIPEC Awards and see other winners, please visit: https://www.adipec.com/awards/
About Data Gumbo
Data Gumbo is the smart contract company trusted by global industrial enterprises. The only network of enterprises and their customers, suppliers and vendors that successfully incorporates real-time sensor level and field data to validate transactions, GumboNet™ reduces costs by more than 10% for all network members by automatically eliminating payment delays, disputes and complicated reconciliations.
To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and L37, a hybrid venture capital and private equity company. Data Gumbo is headquartered in Houston, Texas, with global offices in Stavanger, Norway, and London, UK. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.
Media contact:
Jake Schuster
fama PR for Data Gumbo
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HOUSTON--(BUSINESS WIRE)--SANDRIDGE MISSISSIPPIAN TRUST II (OTC: SDRMU) today announced that there will be no further distribution to unitholders, as the Trust’s final expenses, including the expenses relating to the winding up and termination of the Trust, have exhausted the cash reserves of $1,230,013 previously withheld by the Trustee for the payment of future known, anticipated or contingent expenses or liabilities of the Trust following the distribution to unitholders in November 2020.
The Trust units will be removed from trading and cancelled following this press release. The Trust will remain in existence until the filing of a certificate of cancellation with the Secretary of State of the State of Delaware following the completion of the winding up process, which will occur on or before December 31, 2021.
The Trust owned royalty interests in oil and natural gas properties in the Mississippian formation in Alfalfa, Grant, Kay, Noble and Woods counties in northern Oklahoma and Barber, Comanche, Harper and Sumner counties in southern Kansas and was entitled to receive proceeds from the sale of production attributable to the royalty interests.
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the timing of the cancellation of the Trust. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither SandRidge nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by SandRidge Mississippian Trust II is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, the Trust’s Quarterly Report on Form 10-Q for the period ended June 30, 2020, and all of its other filings with the SEC. The Trust’s annual, quarterly and other filed reports are available over the Internet at the SEC’s website at http://www.sec.gov.
SandRidge Mississippian Trust II
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
GOLDEN, Colo.--(BUSINESS WIRE)--Power management company Eaton, in partnership with the U.S. Army Engineer Research and Development Center (ERDC), Construction Engineering Research Laboratory (CERL), and the Department of Public Works at Fort Hood, Texas, demonstrated a microgrid’s ability to operate Fort Hood’s Robert Gray Army Airfield independently from the utility grid. The effort is the result of grants Eaton received from the U.S. Department of Defense.
Eaton researchers led by Senior Principal Engineer Vijay Bhavaraju demonstrated the microgrid’s ability to seamlessly “island” itself from the grid and optimize the use of sustainable power and energy storage to minimize operation of the on-site backup generators. The generators never came on during the short demonstration.
“Eaton’s demonstration of long-term resiliency at a critical asset such as the Robert Gray Army Airfield is an important milestone for the implementation of resilient infrastructure at military installations,” said Bryan Farrens, senior manager, Government Programs, Eaton. “Air-strike training, for example, is a key mission that historically would be at-risk if there was a long-term loss of utility power. With this effort, we are proving that with intelligent controls, installations like Fort Hood across the military can rely more on sustainable resources such as solar to meet the resilience targets.”
Eaton’s microgrid controller leverages Eaton’s automatic transfer switches and recloser controller to island the Robert Gray Army Airfield from the grid. The microgrid uses the energy storage, backup generators, solar power, and uninterruptible power system to ensure the airfield continues to operate for a minimum of 14 days to meet Army Directive 2020-03 (Installation Energy and Water Resilience Policy).
Congressman John Carter, a key supporter for the program, stated, “As the representative of Ft. Hood, improving our nation’s military capabilities and readiness is a top priority. Eaton’s success with the microgrid is great news for Ft. Hood and I look forward to seeing it in action.”
Eaton’s advanced microgrid controller manages the safety of the power system with an integrated protection system that communicates at a high speed between the utility connection and the building controllers. This allows the system to minimize any downtime on an outage on the distribution line and protects the equipment and operators.
Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 85,000 employees. For more information, visit www.eaton.com
Jennifer Tolhurst, +1 (440) 523-4006
Ameresco has entered into a 15-year partnership with Kauai Beach Resort for a $15.5 million energy efficiency renovation project
FRAMINGHAM, Mass. & KAUAI, Hawaii--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced it has entered into a 15-year Energy as a Service (EaaS) agreement with Kauai Beach Resort. The partnership allows the 25-acre ocean front resort to update and replace its energy-related equipment without any up-front capital.
Ameresco will install new lighting and air conditioning equipment in several phases over the next two years and maintain the improvements for the following 15 years. The upgrades include replacing 350 fan coil units with smart thermostats and humidity controls, a new central chiller plant with added redundancy for AC and hot water, new electrical transformers, a new building automation system to monitor and control temperatures in guest rooms, the kitchens and ballrooms, and updating the exterior lighting with LEDs throughout the resort.
“For us, it is imperative that we continually look for ways to innovate and provide our guests with an unforgettable experience. In order to do so, we need to always be looking for ways to improve and update our resort with the latest energy-efficient technology,” said Ben Dookchitra, Kauai Beach Resort Board President. “We are so excited to partner with Ameresco on this project to implement solutions that will reduce our energy demand and make our resort more sustainable.”
Ameresco will begin design and construction this year to coincide with currently scheduled Kauai Beach Resort building upgrades. By coordinating both projects, Kauai Beach Resort will reduce the amount of guest room downtime. Ameresco expects to complete construction in the summer of 2023.
“Engaging in such an expansive project that will bring critical infrastructure upgrades to life is no easy feat for a business like the Kauai Beach Resort,” said Britta MacIntosh, Senior Vice President, Ameresco. “But by utilizing our Energy as a Service agreement, the resort will be able to simultaneously reduce its energy consumption and overall utility costs, while making no upfront capital investment and deferring all renovation fees until cost savings benefits are realized.”
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Kauai Beach Resort
Situated on 12 acres of lush Garden Isle goodness, the resort is centrally located between Kauai’s North and South shores, making it the perfect home base for island adventures. Just minutes from the airport and secreted down a tree-lined drive that leads straight to the ocean, the private sanctuary is framed by the island’s most sensational landscapes — paradise is our backdrop. Experience the perfect blend of traditional Hawaiian hospitality and culture, with all the modern touches that are the way to make the perfect day.
The announcement of a customer contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total backlog. This project was included in our previously reported assets in development as of September 30, 2021.
Media Contact:
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ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group, Inc., (OTCQB: CRTG), developers of engineered silicon and 3D volumetric displays, announces highlights from the November 17, 2021 shareholder call. The transcript of the call is available on the Company’s Investor Relations website at www.investors.thecoretecgroup.com.
On November 17, 2021, The Coretec Group CEO Matt Kappers, and other principals of The Coretec Group, conducted their first quarterly Shareholder Call. The team announced that they would be conducting quarterly shareholder calls going forward to keep shareholders abreast of the progress made by the company on a much more regular basis. During the call, Mr. Kappers detailed the progress made by the group during 2021. He explained:
The team closed the call by stating that all the questions submitted were answered already within the call and that a transcript would be made available. A copy of the full transcript is available at www.investors.thecoretecgroup.com.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
For more information, please visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and LinkedIn.
Forward-Looking Statements
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
The Coretec Group, Inc.
Lindsay McCarthy
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Propulsion technology company adds wind turbine monitoring to list of industries its RF sensing technology serves
DAYTONA BEACH, Fla.--(BUSINESS WIRE)--As scientists and innovators work to find the replacement of fossil fuels, one renewable energy source is at the forefront – wind. Sensatek Propulsion Technology is bringing efficiency to the race for renewable energy with its passive RF temperature sensors.
Sensatek’s in situ sensing system measures, monitors, and reports data back, which will provide wind turbine farms the information needed to be successful and keep their equipment running longer.
Over the last few years, there has been a growth in interest for renewable energy around the world, with an emphasis on wind energy. Wind turbines and land-based farms are steadily increasing, and research is at an all-time high for off-shore wind farms. As the world ramps up its interest in this renewable energy source, Sensatek brings its RF sensors to the playing field.
The technology company, funded in part by the National Science Foundation, takes the same technology it has had major success with in power generation, aerospace, oil and gas and aviation industries to wind turbine testing. Sensatek’s manufactured RF sensors will be able to online monitor and measure downtime of wind turbines that results in loss of revenue, as well as monitor shaft, gearbox, and generator failures.
“Expanding into the wind turbine industry was a no-brainer for us,” said Reamonn Soto, founder and CEO of Sensatek. “At Sensatek, our mission is to provide quicker, more accurate data on engines. Our team has learned a lot and received early success increasing efficiency for gas turbines, and we’re confident we can apply this experience to wind turbines as well. We’re working to make our communities safer, greener places.”
Sensatek’s technology comes with many benefits for the wind turbine industry. With the knowledge and measured data on how and precisely when the wind turbines are operating, companies will be able to the lower the cost of energy production for their turbines.
“We look forward to continuing to expand how and where our technology is used,” said Soto. “We knew wind turbine testing was the next step in the right direction.”
With a meeting already on the books this fall with a major power plant, Sensatek will continue to research and develop the future of wind turbine measuring technology.
To learn more about Sensatek, visit www.sensatek.com.
About Sensatek Propulsion Technology, Inc.
Sensatek Propulsion Technology, Inc. is a venture capital backed company headquartered on Florida's Space Coast in Daytona Beach, Florida. Sensatek offers advanced sensing technology to help optimize systems used in harsh environments. Their manufactured rotating sensing system, Turbotrack™, measures and tracks changes in temperature, strain, and torque allowing system owners to capture more value on revenue generating assets. To learn more about Sensatek’s revolutionary technology, visit www.sensatek.com.
Will Wellons
Wellons Communications
407-339-0879
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SAN RAMON, Calif.--(BUSINESS WIRE)--GE Digital today announced that Counties Energy, an electricity distribution network provider, will implement GE Digital’s Advanced Distribution Management System (ADMS) as part of its Digital Utility transformation program. The ADMS solution in combination with the utility’s existing implementation of GE Digital’s Smallworld Electric Office, a network-based Geographic Information System (GIS), will drive greater reliability, resiliency and flexibility for its network assets through richer multi-source data. The combination of the two platforms will enable smarter, sustainable, and innovative energy services and solutions that deliver better customer experiences, operational efficiencies, and the ability to manage growth intelligently, ultimately shaping a future-proofed energy platform.
Servicing one of the fastest-growing areas of New Zealand, Counties Energy is 100% consumer-owned and focused on transforming its network for the low carbon future. “We are committed to creating intergenerational value for our customers by enabling a reliable electricity network and diverse energy choices and offerings,” said Moonis Vegdani, Group General Manager Technology and Digital for Counties Energy.
“Driven by the ambition to deliver an exemplary customer experience, the use of today’s digital capabilities will enhance the efficiency of our day-to-day operations and our long-term investments. We aim to build new digital technologies to transform our existing service delivery, keeping the organisation ahead of the digital curve and delivering good service to our community,” Mr. Vegdani continued.
“Counties Energy is well underway on this important journey with its extensive low voltage visibility through the smart meter network. This ADMS transformation programme with GE Digital as a partner, is a key foundational step towards the next phase of our journey.”
GE Digital’s ADMS solution for Counties Energy combines SCADA, Distribution Management System (DMS), and Outage Management System (OMS) capabilities. By implementing this solution, the utility will have a single platform to safely interact with its network, control work, and share information in real-time. In addition, by integrating ADMS and Electric Office, Counties Energy will be able to provide operators with an accurate connected single view of the end-to-end network of assets with a fully digital as-built process flowing from the field to Smallworld Electric Office and on to the ADMS. The company also plans to create a rich picture of its network by utilizing its smart meter coverage to increase the accuracy of the traditional SCADA high and medium voltage view.
Counties Energy intends to leverage the improved knowledge about their physical assets in new and expansive ways. The company can leverage advanced analytics to simulate weather impacts and improve storm preparedness and outage response or understand how the network will behave under different load and future Distribution Energy Resources (DER) growth scenarios.
GE Digital’s Smallworld Electric Office software is a scalable solution with data quality and integrity enforced to support a fully connected, phase aware, network model. Electric Office models and manages location and connectivity of electric transmission and distribution (T&D) network assets from generation through consumption and distributed energy resources to provide insights down to the low voltage network.
“Counties Energy is applying innovative technology to further network reliability for their customers and increase resiliency and flexibility for network assets” said Jim Walsh, General Manager for GE Digital’s Grid Software business. “With these new capabilities, they will enable greater visibility across the network and manage the growth of distributed energy resources so they can lower the carbon footprint needed for energy distribution.”
More information about GE Digital’s Grid Software solutions can be found here.
About Counties Energy
Counties Energy is an electricity distribution network provider that runs from coast to coast across the southern Auckland and northern Waikato regions. The company is 100 percent owned by the Counties Energy Trust who holds the shares on behalf of electricity consumers. The region is one of the fastest growing areas in New Zealand, with the company upscaling the business to meet demand, invest in core business and new technology, from EV charging to smart grid infrastructure. For more information visit www.countiesenergy.co.nz.
About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.
Media:
Ellie Holman
GE Digital
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Kilroy Earns Three Highest Rankings Among the GRESB 2021 Real Estate Assessment;
Recognized as Dow Jones Sustainability World Index Member for Five Consecutive Years;
Debuts on U.S. Environmental Protection Agency’s Top 100 List of Green Power Users
LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC, “Kilroy”) today announced that it has advanced its sustainability leadership position among the world's most accredited organizations and ranking systems. Specifically, the GRESB 2021 Real Estate Assessment, the Dow Jones Sustainability World Index (DJSI), and the U.S. Environmental Protection Agency’s (EPA) National Top 100 List of the largest green power users. These honors and rankings underscore Kilroy’s extraordinary leadership in industry-pioneering sustainability initiatives, policies, and performance.
Kilroy’s recent 2021 rankings follow a monumental year for the company’s asset base, having successfully achieved carbon neutral operations after becoming the first North American REIT to commit to this ambitious goal. In championing sustainability initiatives that promote the health and well-being of its tenants and enhance local communities, Kilroy’s portfolio also earned the distinction of encompassing more designated Fitwel buildings than any other organization outside of the U.S. Government.
“Looking ahead, over the next five years, our focus will be on reducing our ‘Scope 3’ emissions through careful management of the embodied carbon of our construction projects and stabilized properties,” said John Kilroy, Chairman of the Board and CEO of Kilroy. “We’ll continue to advocate for a national policy that creates a more sustainable real estate industry, and based on our performance history, I’m confident we can achieve even greater sustainability goals, despite challenges we know the future will bring.”
Kilroy Earns Three Highest Rankings Among the GRESB 2021 Assessment:
GRESB is a leading ESG benchmark for real estate and infrastructure investments worldwide. The 2021 GRESB Assessment covers more than $5.3 trillion assets under management, giving clarity and direction to the real asset investment market as a means to address complex sustainability challenges.
This year, Kilroy earned noteworthy global rankings as the highest performing real estate company among the GRESB 2021 Assessment. Specifically, Kilroy was named the 1st Listed Leader in the Americas across all asset classes as well as 1st Listed Office Sector Leader in the U.S, earning a GRESB 5 star rating. The company also earned a global ranking in its diversified peer group as 2nd Listed U.S. Development Leader in the Office/Residential sector. Kilroy’s GRESB survey score rose to 95, a two-point increase from the year prior, and for the sixth consecutive year, Kilroy earned an “A” disclosure score for its transparency around ESG practices and reporting of the company’s progress.
Kilroy Recognized as Dow Jones Sustainability World Index Member for Five Consecutive Years:
Launched in 1999, the Dow Jones Sustainability World Index (DJSI) is widely regarded as one of the world’s foremost sustainability indices. The global index benchmarks the sustainability performance of leading (best 10%) companies worldwide based on environmental, social and economic performance, including forward-looking indicators.
Kilroy has been recognized as one of the industry leaders on this prestigious index since 2017—reflecting the company’s commitment to continually improving its sustainability performance. Only five North American real estate companies were named to the DJSI World Index this year.
Kilroy Makes Debut on U.S. Environmental Protection Agency’s Top 100 List of Green Power Users:
The U.S. Environmental Protection Agency’s (EPA’s) Green Power Partnership (GPP) is a voluntary program that helps increase green power use among U.S. organizations to advance the American market for green power and development of those sources as a way to reduce air pollution and other environmental impacts associated with electricity use.
For the first time, in 2021 Kilroy appeared on the EPA’s National Top 100 List of the largest green power users from the GPP (Kilroy ranks at No. 77). Kilroy is using nearly 177 million kilowatt-hours (kWh) of green power annually, which represents 69 percent of its operations’ total power needs. Kilroy’s choice to use green power helps advance the voluntary market for green power, as well as accelerating the development of renewable energy sources. By moving the needle in the voluntary green power market, Kilroy is helping to reduce carbon emissions and the negative health impacts of air emissions including those related to ozone, fine particles, acid rain, and regional haze.
* * *
About Kilroy Realty Corporation
Kilroy Realty Corporation (NYSE: KRC, the “company”, “Kilroy”) is a leading U.S. landlord and developer, with operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, the Pacific Northwest and Austin, Texas. The company has earned global recognition for sustainability, building operations, innovation and design. As pioneers and innovators in the creation of a more sustainable real estate industry, the company’s approach to modern business environments helps drive creativity and productivity for some of the world’s leading technology, entertainment, life science and business services companies.
The company is a publicly traded real estate investment trust (“REIT”) and member of the S&P MidCap 400 Index with more than seven decades of experience developing, acquiring and managing office, life science and mixed-use projects.
As of September 30, 2021, Kilroy’s stabilized portfolio totaled approximately 15.2 million square feet of primarily office and life science space that was 91.5% occupied and 93.9% leased. The company also had more than 1,000 residential units in Hollywood and San Diego, which had a quarterly average occupancy of 79.9%. In addition, the company had six in-process development projects with an estimated total investment of $2.6 billion, totaling approximately 3.0 million square feet of office and life science space. The office and life science space was 52% leased.
A Leader in Sustainability and Commitment to Corporate Social Responsibility
The company is listed on the Dow Jones Sustainability World Index and has been recognized by industry organizations around the world. The company’s stabilized portfolio was 78% LEED certified, 44% Fitwel certified, the highest of any non-government organization, and 72% of eligible properties were ENERGY STAR certified as of September 30, 2021.
The company has been recognized by GRESB as the listed sustainability leader in the Americas for eight of the last nine years. Other honors have included the National Association of Real Estate Investment Trust’s (NAREIT) Leader in the Light award for eight consecutive years and ENERGY STAR Partner of the Year for eight years as well as ENERGY STAR’s highest honor of Sustained Excellence, for the past six years.
A big part of the company’s foundation is its commitment to enhancing employee growth, satisfaction and wellness while maintaining a diverse and thriving culture. For the second year in a row, the company has been named to Bloomberg’s Gender Equality Index—recognizing companies committed to supporting gender equality through policy development, representation, and transparency.
More information is available at http://www.kilroyrealty.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated or implied in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: global market and general economic conditions and their effect on our liquidity and financial conditions and those of our tenants; adverse economic or real estate conditions generally, and specifically, in the States of California, Texas and Washington; risks associated with our investment in real estate assets, which are illiquid, and with trends in the real estate industry; defaults on or non-renewal of leases by tenants; any significant downturn in tenants’ businesses; our ability to re-lease property at or above current market rates; costs to comply with government regulations, including environmental remediation; the availability of cash for distribution and debt service and exposure to risk of default under debt obligations; increases in interest rates and our ability to manage interest rate exposure; the availability of financing on attractive terms or at all, which may adversely impact our future interest expense and our ability to pursue development, redevelopment and acquisition opportunities and refinance existing debt; a decline in real estate asset valuations, which may limit our ability to dispose of assets at attractive prices or obtain or maintain debt financing, and which may result in write-offs or impairment charges; significant competition, which may decrease the occupancy and rental rates of properties; potential losses that may not be covered by insurance; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired, developed and redeveloped properties; the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts; delays or refusals in obtaining all necessary zoning, land use and other required entitlements, governmental permits and authorizations for our development and redevelopment properties; increases in anticipated capital expenditures, tenant improvement and/or leasing costs; defaults on leases for land on which some of our properties are located; adverse changes to, or enactment or implementations of, tax laws or other applicable laws, regulations or legislation, as well as business and consumer reactions to such changes; risks associated with joint venture investments, including our lack of sole decision-making authority, our reliance on co-venturers’ financial condition and disputes between us and our co-venturers; environmental uncertainties and risks related to natural disasters; our ability to maintain our status as a REIT; and uncertainties regarding the impact of the COVID-19 pandemic, and restrictions intended to prevent its spread, on our business and the economy generally. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2020 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the dates on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.
Sarah King
Senior Vice President, Sustainability
Kilroy Realty Corporation
(425) 990-7130
DUBLIN--(BUSINESS WIRE)--The "Australia Electric Motor Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.
Australia's Electric Motor Market size is projected to grow at CAGR of 4.4% during 2021-27. The demand for electric motors increased owing to the growth of industries such as mining and construction which grew by 14.2% and 6.0% respectively in 2020.
Furthermore, the Australian automobile market showed positive signs with a 13% increase in sales compared to Q1 2020, and government regulation to optimize the energy consumption are major factors contributing to the growth of the electric motor market in Australia.
The Australian Electric Motor Market thoroughly covers the market by motor type, output, voltage and industries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Australia Electric Motor Market Synopsis
Australia's Electric Motor Market witnessed a standard growth in recent years on account of the growing demand for electric motors due to the expansion of industrial activities such as mining, automotive, packaging, power generation, consumer appliances and manufacturing.
Further, underpinned by increased demand for HVAC systems from the residential sector and the rising inclination of the automobile industry towards electric vehicles, the demand for electric motors is expected to increase in the upcoming years.
However, the spread of COVID-19 in 2020 resulted in turmoil for the industrial sector due to the lockdown measures adopted to curb the spread of the virus, which in turn led to a downfall in revenue of the products during the pandemic. Although, with the gradual upliftment of lockdown restrictions, sales of electric motors have begun to get back on track as operations in industries and construction resumed, which led the market back to its growth trajectory.
Market Analysis by Products
By motor type, AC motor has the majority of market revenue share in the overall market revenues in 2020 owing to its surging demand in industries for automation and electrification. However, the growing popularity of DC motors due to their high efficiency and wide demand in electric vehicles are likely to drive the DC motor's market revenue size over the coming years.
By voltage, the low voltage motor has the majority of market revenue share owing to its wide applicability in consumer electronics products, owing to the rise in online consumer sales, which grew by 25.8% in the year 2020 and the same trend is projected in the coming years, leading to high demand for low voltage motors in the country.
Key Attractiveness of the Report
Company Profiles
Key Highlights of the Report
The report provides a detailed analysis of the following market segments:
By Motor Type
By Output
By Voltage
By Industries
For more information about this report visit https://www.researchandmarkets.com/r/62pbw5
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today the following unaudited results for the periods ended September 30, 2021 and 2020:
|
Three Months Ended
|
Nine Months Ended
|
||||||||||||
|
2021 |
2020 |
2021 |
2020 |
||||||||||
Revenues |
$ |
19,035,000 |
|
$ |
11,792,000 |
$ |
47,670,000 |
|
$ |
45,178,000 |
||||
Net Income |
$ |
(1,163,000 |
) |
$ |
6,501,000 |
$ |
(5,021,000 |
) | $ |
65,000 |
||||
Earnings per Common Share: |
|
|
|
|||||||||||
Basic |
$ |
(0.58 |
) |
$ |
3.26 |
$ |
(2.52 |
) |
$ |
0.03 |
||||
Shares Used in Calculation of: |
|
|
|
|
||||||||||
Basic EPS |
|
1,994,177 |
|
|
1,994,177 |
|
1,994,177 |
|
|
1,994,177 |
||||
Total assets at September 30, 2021 were $202,178 compared to $200,484 at December 31, 2020.
Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the three and nine months ended September 30, 2021 and 2020 were as follows:
Nine months ended September 30, |
||||||||||
|
2021 |
|
2020 |
Increase /
|
Increase /
|
|||||
Barrels of Oil Produced |
|
|
480,000 |
|
|
538,000 |
|
|
(58,000) |
(10.80)% |
Average Price Received |
|
$ |
63.28 |
|
$ |
38.41 |
|
$ |
24.88 |
64.8% |
Oil Revenue (In 000’s) |
|
$ |
30,376 |
|
$ |
20,663 |
|
$ |
9,713 |
47.0% |
Mcf of Gas Sold |
|
|
2,395,000 |
|
|
2,038,000 |
|
|
357,000 |
17.5% |
Average Price Received |
|
$ |
3.32 |
|
$ |
1.20 |
|
$ |
2.12 |
177.1% |
Gas Revenue (In 000’s) |
|
$ |
7,948 |
|
$ |
2,441 |
|
$ |
5,507 |
225.6% |
Barrels of Natural Gas Liquids Sold |
|
|
298,000 |
|
|
319,000 |
|
|
(21,000) |
(6.60)% |
Average Price Received |
|
$ |
26.11 |
|
$ |
10.07 |
|
$ |
16.04 |
159.3% |
Natural Gas Liquids Revenue (In 000’s) |
|
$ |
7,781 |
|
$ |
3,212 |
|
$ |
4,569 |
142.2% |
Total Oil & Gas Revenue (In 000’s) |
|
$ |
46,105 |
|
$ |
26,316 |
|
$ |
19,789 |
75.2% |
Three months ended September 30, |
|||||||||
|
2021 |
|
2020 |
Increase /
|
Increase /
|
||||
Barrels of Oil Produced |
|
152,000 |
|
|
160,000 |
|
|
(8,000) |
(5.0)% |
Average Price Received |
$ |
68.70 |
|
$ |
39.62 |
|
$ |
29.08 |
73.4% |
Oil Revenue (In 000’s) |
$ |
10.442 |
|
$ |
6,339 |
|
$ |
4,103 |
64.7% |
Mcf of Gas Sold |
|
950,000 |
|
|
496,000 |
|
|
454,000 |
91.5% |
Average Price Received |
$ |
4.21 |
|
$ |
2.12 |
|
$ |
2.09 |
98.5% |
Gas Revenue (In 000’s) |
$ |
3,998 |
|
$ |
1,052 |
|
$ |
2,946 |
280.0% |
Barrels of Natural Gas Liquids Sold |
|
103,000 |
|
|
106,000 |
|
|
(3,000) |
(2.80)% |
Average Price Received |
$ |
35.26 |
|
$ |
13.91 |
|
$ |
21.35 |
153.5% |
Natural Gas Liquids Revenue (In 000’s) |
$ |
3,632 |
|
$ |
1,474 |
|
$ |
2,158 |
146.4% |
Total Oil & Gas Revenue (In 000’s) |
$ |
18,072 |
|
$ |
8,865 |
|
$ |
9,207 |
103.9% |
PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.
Forward-Looking Statements
This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.
Connie Ng, (713) 735-0000 ext 6416
Addition of world-class cold storage and logistics operator with locations in Brazil’s largest reefer ports
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 Martini Meat S.A., a market leader for cold storage, logistics and value-added services in Brazil. This acquisition, which Emergent LatAm completed through its operating subsidiary DMX Logística, adds four cold storage facilities to its growing regional network.
Martini Meat is one of the largest cold storage operators in Latin America, with facilities throughout the States of Paraná, Santa Catarina and Rio Grande do Sul, all near South Brazil’s largest refrigerated cargo ports. Its network consists of 74,000 pallet positions, 69,000 square meters of storage capacity, and over 400 employees. Martini Meat offers customers best-in-class temperature-controlled storage, handling and transportation services.
The combination of Martini Meat and DMX Logística unlocks significant new opportunities. Customers will now benefit from a full end-to-end logistics and transportation solution, from the processing plant to an Emergent LatAm warehouse, a container terminal or directly to the port. Both companies enjoy deep industry expertise, which will create new and innovative service offerings, and a seamless customer experience.
“I’ve long admired Martini Meat for its leading market position and deep customer relationships,” said David Palfenier, President of Emergent LatAm. “This transaction, combined with the transportation services of DMX Logística, allows us to offer customers a fully integrated cold chain logistics solution to Brazil’s growing protein market.”
“We are thrilled to welcome the team of Martini Meat to Emergent Cold Latin America,” said Evandro Calanca, Managing Director of Emergent Cold LatAm. “Brazil is the world’s largest and fastest growing protein export market, which makes it an essential part of our strategy. Martini Meat provides us a base for a complete network of cold storage facilities across Brazil.”
44 Capital Finanças Corporativas acted as financial advisor and Lefosse Advogados acted as legal advisor to Emergent LatAm.
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.
About Martini Meat
Martini Meat (http://www.martinimeat.com.br/) was founded in 1973 in the municipality of Apucarana. With the heated demand for the export of its products, the need for a refrigerated warehouse in Paranaguá emerged, which led Martini Meat to invest in the first warehouse of its kind in the Paraná port complex. The business has since grown to include operations in the South of Brazil in the cities of Paranaguá (PR), Ponta Grossa (PR), Itajaí (SC) and Rio Grande (RS). Martini Meat is focused on operations with accurate results and creative solutions. For this, it has in its structure an exclusive sector of planning and operations control, composed of highly qualified technical professionals capable of offering excellent operational support.
Media:
Emergent Cold Latin America
Greg Mitchell
+1 (601) 479-9162
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RAM Communications
Ron Margulis
+1 (908) 337-0020
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STERLING, Va.--(BUSINESS WIRE)--#JKCommunityFarm--After purchasing historic White’s Ferry in February 2021, Chuck and Stacy Kuhn encountered obstacles to reopening this important Potomac River crossing, considering it needed to regain use rights in Virginia. In response to the suspended service, Loudoun and Montgomery Counties conducted a study to evaluate alternatives and address issues, challenges and opportunities for restoring this important regional transportation link. Following Loudoun County’s Board of Supervisors and Montgomery County Department of Transportation meetings this week to review the study, Chuck Kuhn, owner of White’s Ferry, released this statement:
“I want to express my sincere appreciation to the governments on both sides of the river for their hard work and commitment to reopening White’s Ferry. This is important for my wife Stacy and me. We live and work here and know the importance of this historic crossing. After its closure in December 2020, there was no plan to reopen the ferry. The prior owner, Herb Brown, had attempted repeatedly and unsuccessfully to work with the Rockland Farm organization to find a way to land the ferry and serve his customers in a way that made business sense. His reasonable offers weren’t accepted, and he was forced to close the business.
We purchased the ferry in hopes for a different outcome. We were under no allusions that the ferry would be a profitable venture, as recent studies captured the difficulty and costs for running the ferry. Our goal was to offer an affordable, safe product with pricing that is fair and predictable for riders while protecting a unique, historic, and valued transportation route. Unfortunately, we have encountered the same issues as the previous owner when trying to negotiate with the Rockland Farm organization, part of a portfolio of assets owned by hedge fund CEO Peter Brown, along with his minority shareholders, Libby Devlin and Harriett Dickerson.
We have made numerous offers to lease and/or purchase the landing site with no success. At their request and our cost, we had the entire Rockland Farm appraised three times to explore the possibility of purchasing the whole farm as an option for reopening the landing site. We subsequently made a $13.5 million cash offer to purchase the entire farm--which was higher than two of the proposals. There was no counteroffer and was ultimately rejected. Rockland Farm’s repeated demands for $2 million cash or 50 cents a car each way along with unacceptable deal terms made negotiations impossible. We further offered to donate the ferry and the land to the respective governments in an attempt to reopen the ferry for our region.
Instead, we have been maligned through Rockland Farm’s aggressive and misleading online and signage campaigns and insulted in public by a Rockland Farm owner…as recently as Tuesday night in front of the Loudoun County Government Center. Given the difficulty and lack of professionalism negotiating with the Rockland Farm ownership, no further negotiations with them appear possible.”
Established in 1786, the ferry remains a significant transportation route between Maryland and Virginia, carrying nearly 800 daily users when operational. White’s Ferry represents a piece of the region’s past as an early commerce route that built and sustained local economies. The Kuhns have already embarked on a number of upgrades to the ferry to bring more operational and environmental efficiencies to improve services and preserve a piece of history. More information and updates about the ferry can be found at https://www.whites-ferry.com/.
The Kuhn family seeks land acquisitions that can be sold, leased, developed, placed into conservation easement, or utilized by sister companies JK Moving Services and CapRelo, a global employee relocation and assignment management firm serving private and public sector clients. Over the past decade, they have placed more than 22,000 acres of its purchases into conservation easement, ensuring vulnerable vistas and habitats are preserved and protected for future generations. www.JKLandHoldings.net
Shawn Flaherty, 703-554-3609
LONDON--(BUSINESS WIRE)--#COP26--One week after Glasgow, 174 governments will meet this week at the International Maritime Organization (IMO) in London to address the pressing carbon emission reduction challenges facing international shipping, in what industry is calling the ‘first litmus test’ of government’s decarbonisation commitments following COP26.
A critical meeting of the Marine Environment Protection Committee (MEPC), held by the global shipping industry’s UN regulator, will decide whether to go ahead with a USD 5 billion R&D fund – the ‘IMO Maritime Research Fund (IMRF)’.
Paid for entirely by the industry, at no cost to governments or taxpayers, the fund would be used to accelerate the rapid increase of Technology Readiness Levels to ensure zero-carbon fuels can be used on large ocean-going ships.
If approved, the R&D fund is expected to be up and running by 2023, with the ability to put large numbers of zero-carbon ships in the water by 2030, making net zero shipping by 2050 a reality.
Esben Poulsson, Chairman of ICS said: “If governments do not support the IMRF, we have to ask the question… why?”
“The fund is a ‘no brainer’. Something you’d have thought governments would jump at to send a clear message to the world that they are serious about achieving their climate goals.”
A proposal for the IMRF was first put forward in 2019 and is now supported by major shipping nations including Denmark, Greece, Japan, Panama, Singapore and the United Kingdom, plus developing nations such as Liberia, Nigeria and Palau, who collectively represent the majority of the world’s shipping.
However, the IMRF needs regulatory approval from the majority of governments attending MEPC for the mandatory R&D contribution system to be passed, which will be funded by collecting USD2 per tonne of marine fuel consumed by ships trading internationally.
Guy Platten, Secretary General of ICS said: “This really is the first ‘litmus test’ on governments’ commitments to decarbonisation since COP26
“The USD 5 billion R&D provides governments with the opportunity to prove that their words have meaning, and they are serious about the transition to a zero-carbon sector.
“At COP 26, governments announced many plans, but we need to ensure we have the necessary zero-carbon technologies to actually make this happen? Importantly this needs to be for all and not just the few, as the R&D Fund provides.”
Despite widespread calls during COP26 for global shipping to decarbonise completely by 2050, a goal which the shipping industry fully supports, ICS fears that some governments may raise procedural obstacles to the establishment of an R&D fund. This is due to suspicions that collaborative action benefiting global CO2 reduction efforts might negatively affect what governments perceive to be their national or regional interests. A comprehensive impact assessment was conducted to placate these concerns, it demonstrates the negative effect on national economies will be virtually zero.
---ENDS---
Notes to editors
Stats
a. Figures from the IEA on Private Sector R&D in maritime reveals spending has fallen from 2.7billion USD in 2017 to 1.6 billion USD in 2019.
b. Ricardo report identifies that more than 260 R&D projects, with total cost of around USD 5 billion, are needed to overcome key technical challenges involved with the use of new fuels.
About ICS
The International Chamber of Shipping (ICS) is the principal international trade association for merchant shipowners and operators, representing all sectors and trades and over 80% of the world merchant fleet.
Media Contact:
Duncan Bray
Tel.: +44 (0) 7972 224445
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today that there will be no distribution paid for the month of November 2021 to holders of record as of the close of business on November 30, 2021, as costs, charges and expenses attributable to the Trust’s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, unitholders may not receive any material distributions during the remainder of 2021 and beyond, because the Trust intends to increase cash reserves from $1.0 million to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2020, Form 10-Q for the quarter ended March 31, 2021, Form 10-Q for the quarter ended June 30, 2021 and Form 10-Q for the quarter ended September 30, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx
SICHUAN, China--(BUSINESS WIRE)--Sichuan Daily reported recently, that in the trading hall of Sichuan United Environment Exchange (SUEE), the first of its kind outside China’s carbon emissions trading pilot areas and the eighth in the country, the huge electronic screen has looped more than 50 Chinese Certified Emissions Reductions (CCER) projects from more than 20 provincial-level regions. These projects, from various industries covering wind power, hydropower and photovoltaic power generation, demonstrate the robust vitality of Sichuan’s CCER market. Since early this year, the CCER trading volume in Sichuan has increased by 483% YOY
SUEE launched its carbon neutrality platform in June 2019. The platform is open to government organizations, public institutions, enterprises and individuals from such fields as food, accommodation services and retails. By the end of 2020, the platform has helped offset over 1,950 tons of emissions under CCER projects, equivalent to the one-day emissions of 220,000-plus private cars.
By July 31, 2021, Sichuan has seen 98 low-carbon social activities attended by more than 8,621 people, offsetting greenhouse gas emissions of 4,828.91 tons of carbon dioxide equivalent. An innovative carbon neutrality service platform will be set up by 2022.
Recently, the Sichuan Scheme for Promoting and Standardizing Carbon Neutrality, the first of kind nationwide, was released. According to the scheme, Sichuan will promote realization of carbon neutrality in social activities. Focusing on activities by organizations and individuals, the scheme allows multiple ways to realize carbon neutrality, including afforestation and purchase of emission credits.
Therefore, Sichuan encourages organizers and operators of competitions, conferences, forums, exhibitions and tourism, production and other activities to pursue carbon neutrality and reduction of greenhouse gas emissions, to carry out demonstration projects featuring carbon neutrality relying on forests, grasslands and wetlands for large-scale activities, and to adopt carbon emission reduction measures for carbon neutrality under the international, national and regional carbon credit systems.
Moreover, Sichuan will also create the “Green List” and “Black List” for supervision over carbon neutrality activities, and will promote related service platforms to tap into Tianfu Credit.
Contact: Zhang Peng
Tel: 008628-86968621
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
NEWCASTLE, England & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) and PETRONAS Technology Ventures Sdn Bhd (PTVSB), a subsidiary of PETRONAS, today entered into an agreement to commercialize a unique natural gas processing membrane which reduces greenhouse gas (GHG) emissions.
Through the technology commercialization agreement, TechnipFMC will utilize and integrate the membrane technology licensed from PETRONAS as part of its production portfolio in projects worldwide, outside China.
The technology, which removes carbon dioxide and hydrogen sulfide by using wetted membranes, is 30 percent more efficient than existing gas treatment processes and can reduce GHG emissions by significant amounts. The membrane has potential applications in both offshore and onshore hydrocarbon production environments.
Luana Duffé, Executive Vice President, New Energy Ventures at TechnipFMC, commented: “Our ability to industrialize processes is at the core of this partnership, which is another important step in TechnipFMC’s efforts to help our clients reduce their upstream carbon footprint.”
Bacho Pilong, Senior Vice President of Project Delivery and Technology at PETRONAS, commented: “We are excited to bring to fruition this innovation which will effectively reduce GHG emissions, together with TechnipFMC as our strategic commercialization partner. We believe this collaboration will inspire more innovative solutions towards cleaner, sustainable energy for a better tomorrow.”
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
About Petroliam Nasional Berhad
We are a dynamic global energy group with presence in over 50 countries. We produce and deliver energy and solutions that power society’s progress in a responsible and sustainable manner.
We seek energy potential across the globe, optimising value through our integrated business model. Our portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.
Sustainability is at the core of what we do as we harness the good in energy to elevate and enrich lives. People are our strength and partners for growth, driving our passion for innovation to progress towards the future of energy sustainability.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Media Engagement Department
Group Strategic Communications
PETRONAS
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