SCALE-2 technology optimizes footprint, improves efficiency, performance and reliability of power inverters and converters to 3300 V
SAN JOSE, Calif.--(BUSINESS WIRE)--$POWI #PowerIntegrations--Power Integrations (Nasdaq: POWI), the leader in gate-driver technology for medium- and high-voltage inverter applications, today announced SCALE-iFlex™ Single gate-drivers for the popular “New Dual” 100 mm x 140 mm IGBT modules. The compact new drivers support modules up to 3.3 kV and are available now for design-in. The SCALE-iFlex Single gate-drivers are ideal for light-rail, renewable energy generation and other high-reliability applications that demand compact, rugged driver solutions.
Thorsten Schmidt, product marketing manager at Power Integrations commented: “SCALE-iFlex Single gate-drivers fit the outline of the latest standard IGBT power modules including the Mitsubishi LV100/HV100, Infineon xHP2 and xHP3, ABB LinPak, Hitachi nHPD² and other similar products.”
SCALE-iFlex Single gate-drivers use Power Integrations’ SCALE-2™ ASIC technology which dramatically reduces component count compared to conventional products. The ASIC also provides Advanced Active Clamping (AAC) over-voltage protection during normal operation, a substantial improvement over simple soft shut down, which adds extra protection in case of short-circuit during turn-on. Devices are conformally coated and feature reinforced isolation. Isolated housings ensure isolation between modules when they are mounted side-by-side. Devices are pre-qualified according to railway standards IEC 61373 – Class 1B (shock & vibration) and IEC 61000-4-x (EMC tests) and IEC 60068-2-x (serial environmental tests). Burn-in is optionally available.
The new gate drivers are rated at 20 A peak output current per channel at 85 °C ambient temperature with no air flow. Higher power levels are possible with cooling or a lower ambient temperature. Both electrical and fiber-optic interfaces are available.
The SCALE-iFlex Single gate-drivers are available for sampling now. For more information, please visit www.power.com/products/scale-iflex-single/.
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, SCALE-2, SCALE-iFlex and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc. All other trademarks are the property of their respective owner.
Media Contact
Nina Hurd
Power Integrations, Inc.
(408) 414-8785
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Press Agency Contact
Nick Foot
BWW Communications
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Logistics Service Providers can dramatically accelerate ocean carrier booking processes to improve customer outcomes and overcome global freight chaos
DALLAS--(BUSINESS WIRE)--#SAP--Slync.io, the technology provider behind Logistics Orchestration®, today unveiled its Booking and Allocation Management solution for logistics service providers (LSPs). The new offering streamlines ocean booking execution, matches vendor demand to carrier supply and delivers a comprehensive view of carrier performance empowering LSPs with insights in an environment of reduced certainty and increased volatility.
Recent global disruptions have exposed longstanding weaknesses in ocean logistics processes and communications. LSPs are trying to manage the chaos of a global shipping supply chain that is perpetually stuck in peak season while ocean freight carriers provide little insight into the process and lack accountability when delays occur.
Powered by the Logistics Orchestration® platform, Booking and Allocation Management by Slync.io allows logisticians to stop managing global value chains by email and spreadsheet – accelerating, streamlining, and automating processes while improving timeliness, data quality and transparency within a single system of record. It allows LSPs to navigate the perpetual peak season by juggling shifting schedules and quickly matching limited carrier capacity to customer freight.
“There’s never been a time like this in global logistics,” said Chris Kirchner, Founder, Chairman and CEO of Slync.io. “Recent events have exposed the urgent need to fix broken ocean booking processes and ensure that carriers are held accountable for their performance. With Booking and Allocation Management, Slync’s clients are already seeing that they can save time, reduce risk, and expand operational capacity.”
Booking and Allocation Management by Slync.io is already helping leading LSPs reduce manual reporting efforts by 75%, accelerate transaction times by 45% and save more than 15 minutes per booking transaction. Additional benefits include a dramatic reduction in errors by automating manual data entry, and increased agility and adaptability to shifting capacity constraints and market changes.
By digitizing the ocean carrier booking process, Slync.io offers LSPs a better view into what’s really happening across their end-to-end logistics operations so they can identify, assess and respond to operational impacts in real-time while driving greater accountability across carrier networks.
Learn more about how LSPs can optimize their operations for better customer outcomes with Booking and Allocation Management by Slync.io here.
About Slync.io
Slync.io is the innovator behind the first purpose-built operating platform for global shippers and logistics service providers that delivers higher productivity and process efficiency through intelligent automation. Logistics Orchestration® by Slync.io makes people more productive, companies more profitable, and customers more successful. Slync’s platform connects disparate systems, ingests structured and unstructured datasets, orchestrates teams, and automates processes seamlessly together to advance the global freight industry forward.
To get connected, visit www.slync.io or follow us on LinkedIn, Twitter, Instagram, or Facebook, for more on #TeamSlync.
Matt Gunn
VP, Product Marketing
Slync.io
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+1 (817) 541-9788
Eddie Kraft
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HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that it has entered into an amendment to its asset-based revolving credit facility (the “Credit Facility”). The key elements of the amendment include: (i) the maturity has been extended, subject to certain exceptions, to September 2026; (ii) the facility size has been reduced from $250 million to $179 million; and (iii) interest rates on borrowings outstanding under the Credit Facility were modified to LIBOR plus a margin of 2.25% to 2.75%, subject to the Company’s quarterly net leverage. Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A. and Bank of America, N.A. acted as Joint Lead Arrangers and Joint Bookrunners. Wells Fargo Bank, National Association will continue to act as the administrative agent. Zions Bancorporation, N.A. DBA Amegy Bank remained a lender under the Credit Facility.
The full text of the amended Credit Facility will be filed with the U.S. Securities and Exchange Commission on a Current Report on Form 8-K.
Lyle Williams, FET’s Executive Vice President and Chief Financial Officer, commented, “The extension of the Credit Facility’s maturity date to September 2026 and the $179 million of commitments provide significant flexibility for FET to fund organic and strategic growth. As of August 30, 2021, there were no borrowings outstanding under the facility and total availability was approximately $124 million. We appreciate the long-term partnership provided by our lending syndicate.”
FET (Forum Energy Technologies) is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.
Lyle Williams
Executive Vice President and Chief Financial Officer
713.351.7920
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA), nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center network, is honoring the nation’s professional drivers during National Truck Driver Appreciation Week, held Sept. 12 - 18. To celebrate professional drivers, TA is hosting events at sites nationwide, offering driver-centric deals in the TruckSmart app and holding a #TADriverAppreciation social media campaign to surprise drivers with prizes.
“We want all professional drivers to know that we thank them for working so hard throughout the pandemic,” said Jon Pertchik, Chief Executive Officer of TA. “While this week is to offer gratitude, we appreciate them all year long and are focused on enhancing their guest experience to show how much they are valued. As our company transformation continues, we are pleased that drivers will start seeing and feeling enhancements when visiting us; we are upgrading our physical sites nationwide, revamping our UltraONE loyalty program and continuing to invest in improving the driver experience.”
When visiting the TruckSmart app, drivers will find deals all week long on a variety of merchandise. Sites nationwide will hold special events for drivers, including complimentary cookouts, health and wellness checks, entertainment activities, window washing, mid-trip inspections and tire inspections, and more.
Drivers who follow and comment on #TADriverAppreciation posts during the week will randomly be chosen to receive gift packages. The social media campaign also features a Driver Appreciation Sweepstakes, with one lucky driver chosen each day to receive a special giveaway.
For a full list of sites hosting events and other information on the week, visit https://www.ta-petro.com/professional-truck-drivers/driver-appreciation.
About TravelCenters of America
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Tina Arundel
TravelCenters of America
440-250-4758
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New gate driver eliminates one in six modules; substantially reduces system complexity
SAN JOSE, Calif.--(BUSINESS WIRE)--$POWI #PowerIntegrations--Power Integrations (Nasdaq: POWI), the leader in gate-driver technology for medium- and high-voltage inverter applications, today announced its new plug-and-play SCALE-iFlex™ LT dual gate-drivers. The new drivers improve the performance of multiple parallel EconoDUAL modules by 20%, allowing users to eliminate one of every six modules from power inverters and converter stacks. In addition to saving the cost of the driver and module, this reduces control complexity and costs related to modules, wiring, hardware, and heatsinking. SCALE-iFlex LT targets multiple applications in renewable energy generation and storage, and is particularly applicable to offshore wind turbines in the 3 to 5 MW range.
Thorsten Schmidt, product marketing manager at Power Integrations commented: “Dynamic and static current sharing is critical for robust operation of modules arranged in parallel. For the same power output, systems using SCALE-iFlex LT require just five parallel modules whereas competitive approaches need six. This substantial saving of cost and complexity is achieved by guaranteeing less than 20 ns of variance in turn-on and turn-off commands between modules and less than 20 A of variance between modules when conducting the rated 600 A. This allows the modules to operate reliably without current derating, which is obligatory with less advanced driver solutions.”
Up to six EconoDUAL 3, or equivalent, power modules can be paralleled from the same Isolated Master Control (IMC) unit which has a more compact outline than conventional products. The Module Adapted Gate drivers (MAGs), which fit the footprint of the EconoDUAL module, each featuring two SCALE-2 ASICs – one per channel – to optimize symmetrical paralleling, efficiency and protection.
The new SCALE-iFlex LT gate-driver modules reduce switching losses by three to five percent, due to the fast turn-on and turn-off of the SCALE-2 ASIC which features an integrated booster stage. Power Integrations’ Advanced Active Clamping (AAC) protection enables higher DC link voltages to be achieved. A full suite of other protection features, including short-circuit, are provided. Drivers feature reinforced isolation to 1700 V and may be ordered naked or conformally coated.
As well as renewable energy, other applications include power quality, commercial air-conditioning units and medium-voltage drives. The new SCALE-iFlex LT gate drivers are available now. For more information, please visit www.power.com/scale-iflex-lt.
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, SCALE-2, SCALE-iFlex and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc. All other trademarks are the property of their respective owner.
Media Contacts
Nina Hurd
Power Integrations
(408) 414-8785
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Press Agency Contact
Nick Foot
BWW Communications
+44-1491-636 393
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This strategic investment provides Schlumberger with access to the fast-growing stationary energy storage solutions market through differentiated technology
HOUSTON--(BUSINESS WIRE)--Schlumberger New Energy announced today an investment and collaboration agreement to deploy EnerVenue’s uniquely differentiated nickel-hydrogen battery technology, which is a key enabler of stationary energy storage solutions. Schlumberger New Energy and EnerVenue will work together to progress large-scale deployment of nickel-hydrogen battery technology across selected global markets.
Energy storage solutions are critical to the evolution of the energy mix as the energy transition demands greater contribution from renewable sources. The focus on expanding electrification is accelerating the need for large scale deployment of safe, cost effective, sustainable and reliable stationary energy storage solutions. There is a rapidly growing market for such solutions across utility-scale grid storage, off-grid commercial and industrial storage, and residential sectors.
“At Schlumberger, we’re eager to leverage our technology expertise and global footprint in introducing EnerVenue’s technology to this important emerging market,” said Ashok Belani, Executive Vice President, Schlumberger New Energy. “We are excited about the potential this technology holds for the energy transition.”
“Schlumberger New Energy will emerge as one of the long-term energy transition infrastructure leaders,” said Jorg Heinemann, CEO, EnerVenue. “We look forward to supporting Schlumberger’s new energy vision, and to working with the company to bring our battery technology to organizations across the world.”
About Schlumberger New Energy
Schlumberger is the world's leading provider of technology to the global energy industry. Schlumberger New Energy explores new avenues of growth by leveraging Schlumberger’s intellectual and business capital in emerging new energy markets, with a focus on low-carbon and carbon-neutral energy technologies. Its activities include ventures in the domains of hydrogen, lithium, energy storage, carbon capture and sequestration, geothermal power and geoenergy for heating and cooling buildings.
Learn more about Schlumberger New Energy: newenergy.slb.com
About EnerVenue
EnerVenue builds simple, safe, maintenance-free energy storage for the clean energy revolution – based on technology proven over decades in extreme conditions, now scaled for large renewable energy integration applications. The first to bring aerospace-proven metal-hydrogen battery technology into the clean energy revolution, EnerVenue provides an affordable alternative to lithium-ion batteries with capabilities well-suited to harsh-desert, remote project sites and to customers desiring ‘install and forget’ energy storage solutions. The company is headquartered in Fremont, California.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “can,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as projected demand growth for stationary energy storage solutions and nickel hydrogen battery technology; forecasts or expectations regarding the development of, or anticipated benefits of, EnerVenue’s nickel-hydrogen battery technology and other Schlumberger New Energy initiatives; and other forecasts or expectations regarding the energy transition and global climate change. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from Schlumberger New Energy strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; and other risks and uncertainties detailed in the companies’ public filings, including Schlumberger’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
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UCL research on the environmental impact of DLT examined six Proof-of-Stake consensus mechanisms and found that Hedera Hashgraph has the lowest energy output
LONDON--(BUSINESS WIRE)--#bitcoin--University College London (UCL), a top-10 globally ranked university, has published a significant new research paper on the varying environmental impacts of different distributed ledger technologies (DLT). The paper examined the energy consumption of second-generation consensus models such as Proof-of-Stake, which promise to provide more favourable energy consumption characteristics than their Proof-of-Work predecessors. Researcher’s at UCL’s Centre for Blockchain Technologies (UCL CBT) quantified and compared the energy demands of six second-generation systems: Algorand, Cardano, Ethereum 2.0, Hedera Hashgraph, Polkadot, and Tezos. The full paper can be found here.
The research paper found that Hedera Hashgraph had the lowest overall energy consumption of the systems studied. Dr. Paolo Tasca, Executive Director at UCL CBT, said: “At this point, the benefits of Proof-of-Stake are well-recognised and understood in the blockchain space. However, through this research we have found that not all Proof-of-Stake networks are created equally. This is something that both investors and adopters need to be wary of when selecting their network of choice. While it’s fantastic to see that Ethereum 2.0 will be Proof-of-Stake, looking at these results it’s clear that we need to remain vigilant of its potential environmental impact.”
The research was conducted by UCL CBT by formalizing a basic mathematical consumption model for validator-based Sybil attack resistance schemes. This model allows quantifying the energy consumption per transaction based on common input variables, such as the number of validators and the throughput characteristics of the system analysed.
Ultimately, the study found that the energy needs of the varying consensus protocols was dependent on the number of active validators. The UCL researchers warned that distributed ledger technology (DLT) networks need to be wary of the effect of different design choices in their architecture over energy consumption, as well as of the quality of the hardware used by the node operators. The research concluded that DLT networks must remain focused on environmental friendliness as scale increases.
Dr. Tasca concluded: “The findings of this study are a fantastic starting point for improving existing DLT design options, as well as developing new consensus protocols while keeping sustainability front of mind. We found that, through applying contemporary throughput and validator counts, Hedera Hashgraph has the most favourable energy consumption characteristics.”
For more information, download the full report at: http://blockchain.cs.ucl.ac.uk/blockchain-energy-consumption/
About University College London
Founded in 1826 in the heart of London, UCL is London's leading multidisciplinary university, with more than 13,000 staff and 42,000 students from 150 different countries. Ranked 8th in the world by QS World University Rankings in 2022, University College London is amongst the best universities in the world. It was the first university in England to welcome students of any religion and the first to welcome women on equal terms with men. UCL's founding principles of academic excellence and research aimed at addressing real-world problems continue to inform its ethos to this day through focusing its research endeavours on the Grand Challenges of Global Health, Sustainable Cities, Cultural Understanding, Human Wellbeing, Transformative Technology, and Justice & Equality. UCL’s dedication to world-class research, education and innovation is recognised through its globally recognised ranking. In the most recent Research Excellence Framework, UCL was the top-rated university in the UK for research strength.
About the UCL Centre for Blockchain Technologies (UCL CBT)
UCL CBT is the world’s largest research centre on blockchain technologies by number of associates. Founded in 2015 by Prof. Paolo Tasca and Prof. Tomaso Aste, its mission is to research the effects of Distributed Ledger Technologies and Blockchain into our socio-economic systems and to promote the safe and organic development and adoption of Blockchain-based platforms.
For Media Enquiries
Zenobia Godschalk
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, announces their partnership with METTEM-M Ltd., a developer of vehicle control systems and systems integrator, to provide hydrogen electric powertrain solutions to commercial vehicle OEMs across Russia, the Commonwealth of Independent States (CIS), and greater Europe. The companies’ first joint project — a hydrogen electric transit bus for GAZ Group, a leading global commercial vehicle OEM provider — is presently on display at the International Commercial Vehicle Show 2021 (COMTRANS) in Moscow, Russia. The 12-meter passenger bus vehicle is expected to enter regular city transport service in Moscow, in early 2022, after completing customary road testing and vehicle level certification requirements.
Under this agreement, METTEM will use Loop’s eFlow™ powered fuel cell modules to develop and supply hydrogen electric subsystems, powertrains, and complete vehicle solutions for a variety of applications including transit buses, logistics vehicles, and rail transport.
The hydrogen electric transit bus, currently showcased by its OEM at COMTRANS 2021, marks the first commercial achievement between Loop Energy and METTEM. The vehicle’s hydrogen electric control system was developed by METTEM under the contract with GAZ Group — a leading manufacturer of light commercial and medium-duty vehicles, buses, powertrain and automotive components, and special-use vehicles headquartered in Russia. The solution is using GAZ Group’s existing battery electric passenger bus platform, Loop Energy’s high efficiency fuel cell modules, and METTEM’s fully integrated hydrogen electric fuel cell system.
“Partnering with Loop was a natural next step for METTEM as we look to supply our OEM customers with mobility solutions that meet the growing demand in Russia and beyond for electric and hydrogen fuel cell vehicles over the next decade,” said Jan Drewitz, CEO of METTEM. “With Loop’s innovative fuel cell modules and our extensive powertrain and vehicle integration expertise, we foresee hydrogen electric solutions, and the benefits of extended range, peak power performance, and fuel efficiency, becoming the gold standard in the commercial vehicle market.”
“Collaborating with METTEM is a key milestone for both the adoption of hydrogen electric solutions for commercial vehicles, as well as expanding Loop’s footprint in both Russian and greater European markets,” said George Rubin, Chief Commercial Officer of Loop Energy. “METTEM’s market knowledge and technical expertise bring an invaluable contribution to this partnership. We are seeing a steady demand for clean energy alternatives across the globe and are eager to work with a leading player in the commercial vehicle industry to provide sustainable solutions.”
About METTEM
METTEM-M, Ltd. is a company of the METTEM TRANSPORT Group. It is also a Russian enterprise that develops, integrates, and produces in series digital E/E control systems, onboard equipment for navigation and other purposes, as well as solutions for both vehicle manufacturers (buses, trucks, special vehicles, passenger cars) and transport operators. METTEM TRANSPORT Group is focused extremely on innovations to improve its products continuously and release new items. Cooperation with Loop Energy will make it possible to implement projects in a trendy area of hydrogen transportation. Applying its experience and competences, METTEM-M is designing hydrogen vehicles as effective and safe for use as possible. https://mettem-m.ru/
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the Company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.
Loop Energy Media Contact: Ashley Eisner | Tel: +1.212.697.2600 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Loop Energy Business Contact: George Rubin | Tel: +1.604.828.8185 | This email address is being protected from spambots. You need JavaScript enabled to view it.
METTEM Business Contact: Yuri Yanovich | Tel: +7.916.412.18.33 | This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "6th Mauritanian Mining, Oil & Gas Conference and Exhibition" conference has been added to ResearchAndMarkets.com's offering.
WHAT IS MAURITANIDES MINING, OIL & GAS CONFERENCE AND EXHIBITION?
Mauritanides is the region's largest international mining & energy conference and gathering of top mining & hydrocarbons executives, representatives of regional executive authorities, investors, banks, industry associations, service companies and equipment producers for three days of networking, knowledge-sharing and business matching.
The event has separate 2 days conference, with a free-to-attend exhibition, hosting the world's leading mining & technology providers and post-conference site-tours.
WHO WILL BE THERE?
Who Should Attend:
Speakers
H.E ABDESSELAM OULD MOHAMED SALEH
Minister
Ministry of Petroleum, Mines and Energy
Mauritania
ANDREW G. INGLIS
CEO
Kosmos Energy
United States
BERNARD PIALES
Mauritania Country Manager
ExxonMobil
Mauritania
MOUSTAPHA BECHIR
General Director of Hydrocarbons
Ministry of Petroleum, Mines and Energy
Mauritania
For more information about this conference visit https://www.researchandmarkets.com/r/onevut
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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DALLAS--(BUSINESS WIRE)--Providence Energy Ltd. (“Providence” or the “Company”) and funds managed by Oaktree Capital Management, L.P. (“Oaktree”) today announce the formation of a new mineral and royalty acquisitions company, Sierra Energy Holdings, LLC (“Sierra”), backed with $500 million in equity commitments. Sierra will pursue the acquisition of mineral and royalty interests throughout the continental United States.
Formed in 1993, Providence is a privately held energy investment and management company headquartered in Dallas, Texas. The Company was originally formed to acquire and manage mineral, royalty and non-operated working interest assets throughout the United States. In 2010, Providence began investing in renewable energy resources, including wind, hydropower and alternative fuel-based power generation. In early 2015, Providence further differentiated itself by forming Providence Energy Operators, LLC (“PEO”), an exploration and production company primarily focused on direct investments in working interest assets in the most profitable oil and gas regions across the country.
“Providence has always been a company with a family atmosphere, committed to treating our staff and our business partners with respect and honesty. For these reasons Providence enjoys an excellent reputation throughout the energy industry, which has supported our efforts to create a sustainable company through responsible energy development, whether that be in minerals, direct working interest investment or renewable energy,” said Mike Allen, President of Providence Energy Ltd.
Phil Ream, COO of Providence Energy Management, LLC, the service provider for Sierra Energy Holdings added, “I am excited to lead the Sierra efforts and think our decades of industry experience and knowledge, combined with the strong financial backing and support from Oaktree will enable Sierra to quickly evaluate and close on targeted mineral and royalty opportunities. Our aim is to provide financial solutions to land owners, mineral companies, high net-worth families and institutional mineral owners, and do so with the highest level of integrity.”
Kaj Vazales, Co-Head of North America for Oaktree’s Global Opportunities strategy, said, "We are excited to partner with the Providence management team, who has extensive experience in acquiring and managing mineral and royalty assets. Oaktree's equity commitment will allow Mike and his team to apply their proven framework to opportunities which we believe will generate attractive returns to our investors over the long-term."
About Providence
Providence is a privately held energy investment and management company formed in 1993 and based in Dallas, Texas. Over the past 27 years, Providence has acquired and managed upstream oil and gas properties across the United States. Currently, Providence owns and/or manages interests in nearly 2 million gross acres of minerals, with interests in over 10,000 producing wells.
In addition to oil and gas, and since 2010, Providence has been an active investor in renewable energy resources, including in wind, hydropower and alternative fuel-based power generation.
For more information, please visit www.providence-energy.com
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments,
with $156 billion in assets under management as of June 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
Providence Media Contact:
Meggan Morrison
Redbird Communications Group
(972) 639-8715
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Manufacturers and stakeholders must consider battery design, warranties, and standards that incentivize environmentally friendly practices to boost confidence in new battery technology
BOULDER, Colo.--(BUSINESS WIRE)--#EV--A new report from Guidehouse Insights analyzes the growing rate of electric vehicle (EV) and energy storage adoption, as well as developments in battery technology and the measures that regulatory bodies are taking to increase their safety.
Even in conservative estimations, EV sales are expected to experience aggressive growth by 2030. As a result, consumers, integrators, and policymakers are turning their attention to battery performance, with special consideration given to safety and risk. According to a new report from Guidehouse Insights, building confidence in the technology is contingent on battery technology that is reliable, cost-effective, and safe to transport, use, and dispose of.
“The market is being flooded with new battery chemistries, configurations, applications, and capabilities that all have the potential to be the leading solution for EVs and energy storage,” says Maria Chavez, research analyst with Guidehouse Insights. “As regulators and consumers try to take stock of the various options being introduced to the market, it becomes more difficult to assess the safety and reliability of these systems.”
In the report, recommendations for improved safety are made. These include battery design that facilitates reuse or recycling, flexible warranties tailored to a battery system’s intended ambient conditions, updated safety information, and standards for manufacturers that incentivize environmentally friendly practices.
The report, Key Developments in Battery Energy Storage Safety, discusses key trends in battery safety, including recent technological developments, battery chemistry profiles, and current initiatives to improve battery safety across the industry. The report recommends a multilayered approach for manufacturers, integrators, regulatory bodies, and policymakers. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Key Developments in Battery Energy Storage Safety, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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Leading Northeastern residential and commercial solar installation company to jump start iSun’s East Coast Residential Strategy.
BURLINGTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, and SolarCommunities Inc (“SunCommon”) announced today that they have entered into a definitive agreement pursuant to which a subsidiary of iSun will acquire SunCommon, in a combination of cash and shares of Common Stock.
HIGHLIGHTS:
The transaction executes phase one of iSun’s recently announced East Coast residential strategy and builds on iSun’s commercial, industrial and utility-scale presence in Maine, New Hampshire, Vermont, Connecticut, Massachusetts, Rhode Island, New York, Maryland, North Carolina and South Carolina. The acquisition furthers iSun’s ability to both drive the transition from dirty to clean energy and capitalize on the increasing focus on the climate crisis. The combined organization generated net revenues of approximately $51.4 and $70.0 million in calendar years 2020 and 2019, respectively. SunCommon’s positive EBITDA will be immediately accretive to earnings. Management estimates year-1 SG&A synergies to be approximately $1.25 million related to integration of backend software and implementation of a shared services platform consisting of administrative related functions (finance, IT, software), while the differing revenue cycles of the two business will improve cash-flow.
“This is a milestone moment for iSun,” stated Jeffrey Peck, iSun Chairman and Chief Executive Officer. “Not only does this acquisition deliver on our promise to investors to execute our residential strategy, but also it honors our 50-year legacy of helping accelerate the wide-spread adoption of life-enhancing technological innovations. The Electrification of everything is going to rapidly increase energy demand across all sectors. With this acquisition, we are addressing this opportunity in the residential sector with a partner who has built a scalable residential platform with best-in-class capabilities, industry leading customer acquisition cost of $0.36/Wdc, and most important – who shares our values.”
“We have long respected SunCommon for their ability to provide customer-centric solutions to the climate crisis as well as their deep commitment to people, the planet, and the communities they serve,” continued Peck. “We’re excited to help enhance their capabilities, learn from their expertise, and have their guidance as we progress to phase two of our residential strategy.”
“As a market-solution to the climate crisis, scale matters. Joining iSun allows SunCommon to accelerate our growth plans and delight our customers with clean energy solutions that improve their lives and protect our planet. This is a great day for SunCommon, our employees, customers and investors,” said SunCommon co-president James Moore.
His fellow co-president Duane Peterson remarked, “We’re proud of what we have accomplished, and are happy to recognize our people by ensuring that they directly benefit from this partnership. And this is only the beginning. SunCommon will continue operating as a Public Benefit Corporation and a certified B Corp, while helping our new parent iSun earn its B Corp certification as well. We intend to create the nation’s largest values-led clean energy business.”
Transaction Details.
Both iSun and SunCommon’s respective Boards of Directors unanimously approved the Definitive Agreement, which includes a cash payment of $24,034,621 and $15,965,379 in stock ($2.5 million of the consideration will be granted directly to SunCommon employees), $1.5 million working capital infusion and additional earnout provisions, subject to customary purchase price adjustments and customary seller representations and warranties and indemnification obligations.
In 2020, SunCommon generated approximately $33.1 million in revenue with gross margins of approximately 30.2% and maintained customer acquisition costs well below those advertised by other residential solar market leaders.
Mr. Peck will serve as the CEO of the combined organizations, and Mr. Peterson and Mr. Moore will serve as co-Presidents of SunCommon. The existing iSun Board of Directors will remain as currently constructed.
Additional details of the transaction will be included with the Company’s current report on Form 8-K, which will be filed with the United States Securities and Exchange Commission.
Conference Call to Discuss the Transaction
iSun and SunCommon will host a joint investor conference call tomorrow, September 9, 2021, at 08:30 Eastern Time to discuss details of the transaction.
Interested parties may join the conference call by dialing:
Following the conclusion of the live call, a replay of the webcast will be available on the iSun website for at least 90 days. Alternatively, a telephonic replay of the call will be available beginning at 12 p.m. Eastern Time on Thursday, September 9, 2021 and can be accessed until 11:59 p.m. Eastern Time on Thursday, September 23rd by calling 877-481-4010 in the U.S. or 919-882-2331 internationally, with access code 42785.
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
About SunCommon.
SunCommon is a market-solution to climate change. Operating in New York's Hudson Valley and as the market-leading provider of residential, community and commercial solar in Vermont -- we believe that everyone has the right to a healthy environment and brighter future – and renewable energy is where it starts. SunCommon is a Certified B Corp based on a rigorous third party assessment of our commitment to the triple bottom line of people, planet and profit. Our 200 employees are passionate about our values-led business and the positive impact we're creating. For more information, go to https://suncommon.com or connect with us on Facebook and Twitter @suncommon.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR Contact:
Tyler Barnes
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802-289-8141
HOUSTON--(BUSINESS WIRE)--Repsol has selected Univation Technologies’ UNIPOL™ PE Process for its 300,000 TPY polyethylene (PE) plant. This new PE plant will be constructed along with another polymer production unit with both plants located at Repsol’s Industrial Complex in Sines, Portugal. The combined project represents the largest industrial investment in Portugal in the last ten years with a total value at €657 million (ca. $775 million).
Repsol selected a full-density plant design with production capabilities for a broad range of HDPE and LLDPE products specifically targeting highly specialized PE applications serving the pharmaceutical, automotive and food industries. The UNIPOL™ PE Process’ flexible manufacturing platform further supports Repsol’s continued growth targeting key markets and capturing new opportunities within the greater European market. In addition to Univation’s HDPE and LLDPE capabilities, Repsol has also selected to access Univation’s XCAT™ Metallocene Technology to produce specialty metallocene PE grades aimed at the sophisticated European polyethylene film market.
Additionally, Repsol will utilize Univation’s advanced software platforms for process control capability (“PREMIER™ APC+”) and also virtual process training (“UNIPOL™ PE Virtual Plant Simulator – UVPS”). PREMIER™ APC+ is an advanced process control platform designed specifically for the UNIPOL™ PE Process. Its state-of-the-art process control capability is designed to maximize production rates, ensure efficient product grade transitions and enhance overall operational reliability of the UNIPOL™ PE Process. The UVPS software provides Repsol with the latest generation process simulator training tool that delivers a realistic training environment for a full range of unit operations for the UNIPOL™ PE Process.
“The UNIPOL™ PE Technology platform provides Repsol with multiple sustainable operational benefits ‒ including low carbon footprint, minimized emissions, reduced energy consumption, and maximized raw material utilization – to enable Repsol to achieve its objective of sustainable development while delivering positive economic activity within the regions that it operates,” commented Dr. Steven Stanley, President of Univation Technologies. Dr. Stanley continued his comments, “Additionally we look forward to supporting Repsol’s vision of producing value-added, recyclable materials for the European market with this new UNIPOL™ PE Plant. Univation is pleased to have already formed strong, collaborative relationships with the Repsol team and we look forward to a safe start-up of this new, flexible and sustainable manufacturing platform.”
José Luis Bernal, Repsol Química Executive Director, commented, “This project demonstrates Repsol's commitment to a more integrated and sustainable petrochemical industry and also shows our support for the strategically important Sines Industrial Complex. Partnering with a proven, experienced leader in the field of polyethylene was of utmost importance, and we are pleased to collaborate with Univation Technologies on this landmark project.”
About Univation Technologies, LLC
Univation Technologies is the global leader in licensed polyethylene technology. Univation has a proven track record of delivering process, product and catalyst technologies as well as related technical services to the global polyethylene industry for more than 50 years. More than one-third of all HDPE and LLDPE resins produced globally is supplied by the industry-leading UNIPOL™ PE Process. Univation is also the world's leading manufacturer and supplier of conventional and advanced polyethylene polymerization catalysts designed specifically for the UNIPOL™ PE Process. For more information, visit www.univation.com.
UNIVATION, XCAT, PREMIER, stylized “Univation Technologies,” and the stylized "U" are registered trademarks (Reg. U.S. Pat. and Tm. Off. and other countries) of Univation Technologies. UNIPOL is a trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow, licensed for use to Univation Technologies.
Univation Technologies, LLC
Duane Thompson
+1-713-892-3668
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EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) today announced participation in upcoming investor conferences.
Andrew Clyde, President and CEO, will participate in a “fireside chat” format presentation at the Goldman Sachs 28th Annual Global Retailing Conference on Friday September 10, 2021, at 8:20 a.m. Eastern Time (ET). The live audio webcast presentation will be available on the company’s website at https://ir.corporate.murphyusa.com.
The company will also be participating in investor meetings at the Raymond James 2021 Consumer Conference on Tuesday September 14, 2021.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest, and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.
Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Investor Relations Analyst
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TULSA, Okla.--(BUSINESS WIRE)--The Abu Dhabi National Oil Company (“ADNOC”) and its subsidiary ADNOC Drilling Company (“ADNOC Drilling”) and Helmerich & Payne, Inc. (NYSE: HP) (“H&P”), a global leader in rig technologies and drilling solutions, jointly announced today a strategic alliance, that will see ADNOC Drilling acquire eight FlexRig® land rigs from H&P for $86.5 million. Following this transaction, H&P will make a $100 million cornerstone investment into ADNOC Drilling’s recently announced Initial Public Offering (“IPO”).
The strategic alliance and rig acquisition will support ADNOC’s target of reaching 5 million barrels per day (mbpd) production capacity and gas self-sufficiency for the UAE by 2030, along with plans to unlock its unconventional oil and gas resources. These agreements will further drive ADNOC Drilling’s growth and expansion as well as enhance its rig-based operational performance by providing access to the world-class H&P FlexRig® land rig fleet and leveraging H&P’s expertise and technologies. In addition, the alliance will support ADNOC Drilling in further driving operational excellence through maintenance efficiencies, supplementing supply-chain capabilities, and adding engineering and rig design competencies. The alliance will also deliver more competitive well completion times, greater drilling efficiencies and improved well economics.
For H&P, these agreements help facilitate its goal of allocating capital internationally, particularly in the MENA region, by accelerating its access into the attractive and fast-growing Abu Dhabi market as a key platform for further regional expansion. H&P’s cornerstone investment in the upcoming ADNOC Drilling IPO also highlights its confidence in the attractiveness and long-term value creation potential of ADNOC’s unique energy assets to leading international market participants.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: “I am pleased to announce a strategic alliance with Helmerich & Payne, a globally renowned drilling solutions provider. This exciting alliance and value creation opportunity will provide ADNOC Drilling with access to new world-class rigs and services, enabling it to continue to support ADNOC in our ambitious production capacity expansion plans.
“H&P’s cornerstone investment in our planned ADNOC Drilling IPO further reinforces ADNOC’s continued success as a primary catalyst in attracting leading global investors and industry partners into Abu Dhabi and the UAE.”
On September 6, 2021, ADNOC announced its intention to float a 7.5 percent minority stake of ADNOC Drilling on the Abu Dhabi Securities Exchange (“ADX”) through an IPO, demonstrating the continued growth, strength and prominence of Abu Dhabi's financial marketplace. Both ADNOC and H&P will remain committed, long-term shareholders in ADNOC Drilling.
John Lindsay, H&P’s President and CEO commented: “We are excited to enter into this strategic alliance with ADNOC Drilling and the value this alliance can create for both companies and stakeholders. Our investment in ADNOC Drilling is an additional step in the execution of our international growth strategy to allocate additional capital outside the U.S. and serves as a testament of our belief in what ADNOC Drilling and H&P can achieve together. We look forward to partnering with ADNOC and ADNOC Drilling to help create a similar value proposition that we have for customers in the U.S. and other international locations.”
H&P’s cornerstone investment will be at the IPO price and is subject to a three-year lock-up. As stated in the ADNOC Drilling Prospectus, like other shareholders, H&P expects to benefit from ADNOC Drilling’s commitment to a robust dividend policy. The rigs are expected to be delivered and commissioned in stages over a twelve-month period subject to acceptance upon successful completion of a final inspection on customary terms and conditions.
The strategic alliance and cornerstone investment announced today represents a natural evolution in ADNOC’s value creation plan and will provide ADNOC Drilling with a significant competitive advantage in the region, enabling it to further capitalize on its leading position as the largest national drilling company in the Middle East with 96 rigs, nearly twice the size of the next largest regional drilling provider.
Moelis & Company acted as exclusive financial advisor to ADNOC.
Morgan Stanley & Co. LLC acted as exclusive financial advisor to H&P.
About ADNOC
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.
To find out more, visit www.adnoc.ae
About ADNOC Drilling
ADNOC Drilling was founded in 1972 and is the largest national drilling company in the Middle East by rig fleet size, as well as the sole provider of drilling rig hire services and certain associated rig-related services to ADNOC Group. ADNOC Drilling is also the first national Integrated Drilling Services (IDS) company in the region, offering start-to-finish wells and services that encompass the entire drilling value chain. The company is a critical link in ADNOC’s upstream business, as ADNOC continues to move towards its oil production capacity target of 5 million barrels per day by 2030 and enables gas self-sufficiency for the UAE.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. Factors that might cause actual results to differ include the possibility that the conditions to the closing of the pending transactions described herein (the “Transactions”), including the possible cancellation, recission, or termination of any rig purchase as a result of mechanical difficulties, performance issues, excessive delays, catastrophic loss or other reasons; the conditions related to obtaining regulatory approvals, may not be satisfied in a timely manner or at all, that if such conditions are not satisfied, they may not be waived, that the Transactions may not be completed on the terms currently contemplated or at all; the failure to realize the anticipated benefits of the Transactions, assuming they are completed; and the risk factors discussed from time to time in each of H&P’s documents and reports filed with the SEC. Except as required by law, H&P undertakes no obligation to revise or publicly release the results of any revision to any forward-looking statements.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.
H&P Contact:
Dave Wilson, Vice President of Investor Relations
+1-918-588-5190
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ADNOC Contact:
Oliver Thompson
Manager, Financial Communications
+971 50 851 8998
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Up to $315,000 in Prizes to be Awarded to Teachers for Finding Innovative Ways to Deliver Quality Lab Experiences to Students
ARLINGTON, Va.--(BUSINESS WIRE)--#NSTA--The fifth annual Shell Science Lab Regional Challenge is now accepting applications for the 2021-2023 program. The Challenge—sponsored by Shell Oil Company (Shell) and administered by the National Science Teaching Association—encourages science teachers (grades K-12) in select communities located throughout the U.S. who have found innovative ways to deliver quality lab experiences utilizing limited school and laboratory resources, to apply for a chance to win up to $315,000 in prizes, including school science lab makeover support packages valued at $10,000 (for the elementary and middle levels) and $15,000 (for the high school level). The deadline for submissions is February 17, 2022.
“Science teachers inspire future science leaders,” said Dr. Frazier Wilson, Vice President, Shell Oil Company Foundation and Director, Workforce Development Diversity Outreach, Shell Oil Company. “The Shell Science Lab Regional Challenge demonstrates our commitment to the communities, schools, and students, and the critical role the schools and teachers in those communities play in preparing a future workforce of technical talent.”
Judges will evaluate entries based on various criteria, including demonstrated science inquiry and innovation in the classroom with limited equipment; demonstrated impact and engagement with students and the community; and demonstrated need for additional professional development and science materials. Thirty-six regional winners will be selected: nine at the elementary level, nine at the middle level, and nine at the high school level. Of the 27 winners, three grand prize winners—one at each level—will be selected.
The elementary and middle-level regional winners will each receive a school science lab makeover support package valued at $10,000 and high school level regional winners will receive a school science lab makeover support package valued at $15,000. Each grand prize winner will receive an additional $5,000 of support to attend a future NSTA National Conference on Science Education. The grand prize winners and their principals will be honored at the Shell reception and NSTA Teachers Awards Gala, taking place at the conference.
For more information about the Shell Science Lab Regional Challenge or to apply, visit https://www.nsta.org/shell-science-lab-regional-challenge.
About Shell Oil Company
Shell’s commitment to community and social responsibility has been in place for more than 50 years. During this time, we have contributed more than a billion dollars to support community, health and welfare, environmental, arts and cultural activities, various educational initiatives, including minority education, and diversity and inclusiveness programs in Houston and the U.S.
FOR INQUIRIES CONTACT: Shell Oil Company Media Line +1 (832) 337-4355
About NSTA
The National Science Teaching Association (NSTA) is a vibrant community of 40,000 science educators and professionals committed to best practices in teaching science and its impact on student learning. NSTA offers high quality science resources and continuous learning so that science educators grow professionally and excel in their career. For new and experienced teachers alike, the NSTA community offers the opportunity to network with like-minded peers at the national level, connect with mentors and leading researchers, and learn from the best in the field.
Kate Falk, NSTA
(703) 312-9211
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DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Hydrogen Generation, Flow Batteries, and Solar Cells" report has been added to ResearchAndMarkets.com's offering.
This edition of the Energy & Power Systems TOE features information on the use of engines powered by hydrogen for use in electric vehicles (EVs) and for decentralized energy production, an innovative approach for enhancing conductivity of perovskite solar cells, and the use of rechargeable cement-based batteries.
The TOE also profiles hydrogen production from brewery wastewater, and cost-effective hydrogen storage in liquid form. The TOE also features insights on the use of innovative anode materials for fabricating safer fast charging Li-ion batteries, and the use of novel electrode materials for organic redox flow batteries. The TOE also focuses on innovations associated with the development of intelligent battery solutions for EVs, and also focuses on autonomous green hydrogen refueling stations. The TOE additionally provides insights and the latest developments in decentralized green hydrogen production.
The Energy and Power Systems TOE provides insights on the latest advances in the broad range of technology related to the energy industry. The topics regularly presented range from energy storage technologies (solid state batteries, solar chemical storage and other advanced energy storage devices) to non-renewable energy such as oil and gas. Special emphasis is given to emerging areas in the renewable sector such as photovoltaics, wind energy, and geothermal energy, and emerging alternative fuels such as hydrogen, syngas, ethanol and biofuels. The EPS TOE keeps clients abreast of the latest R&D developments at major corporate and academic research centers, provides competitor intelligence and helps create strategic alliances.
The Energy and Environment cluster provides global insights and intelligence on a wide variety of disruptive emerging technologies and platforms ranging from energy storage, advanced batteries, solar and wind energy, to unconventional oil, bioenergy, geothermal energy, and energy transmission.
Key Topics Covered:
Innovations in Hydrogen Generation, Flow Batteries, and Solar Cells
For more information about this report visit https://www.researchandmarkets.com/r/a9k4n
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Laura Wood, Senior Press Manager
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NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter ended July 31, 2021.
“Second quarter revenues of $39.8 million represent a significant increase above the revenues of $20.4 million achieved in the same quarter last year. Similarly, pre-tax income from operations of $4.3 million is significantly greater than the $0.2 million earned in the same quarter of 2020. If we exclude the impact of COVID-19 related government assistance, pre-tax income from operations improved $7.5 million over the same quarter of 2020 and $9.2 million for the year-to-date versus the same period last year," noted President and CEO David Mansfield.
"As I stated in our last Earnings Release, the adverse business conditions arising as a result of the pandemic began to ease during the latter part of the first quarter. This continued through the second quarter, and we were able to begin the execution of some delayed projects. Further confirming the commencement of a recovery from the previously depressed conditions, almost all business units showed quarter over quarter growth. Overall, revenues increased 63%, or $15.4 million, over those achieved in the first quarter, and pre-tax income increased by almost $5 million.
"Steps taken earlier this year to enhance liquidity included the sale and lease back of our property in Lebanon, Tennessee. This provided capital to allow us to continue to move forward with investment plans that we had delayed as an act of prudence over any risk to working capital available to us in the future. With the recent recovery in our earnings, we are now in a much more secure position in this regard and we will continue to move forward with our growth plans.
"Our backlog currently stands at $53.2 million, which reflects a small increase from the backlog at January 31, 2021. In addition to the growth in revenue during the quarter and year-to-date, new awards have also continued at higher levels, allowing us to maintain our backlog at a similar level to that at the beginning of the year.
"While we continue to be faced with dealing with the adverse impact of the pandemic, including the challenges it has presented within the supply chains, it is nevertheless encouraging to have more confidence that we are emerging from the worst of its impact on our business,” Mr. Mansfield concluded.
Second Quarter Fiscal 2021 Results
Net sales were $39.8 million in the current quarter, an increase of $19.4 million, or 95%, from $20.4 million in the prior year quarter. The increase was a result of increased sales volumes in both North America and the Middle East due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.
Gross profit increased to $10.7 million, or 27% of net sales, in the current quarter from $2.4 million, or 12% of net sales, in the prior year quarter. This increase was driven by higher sales volumes and project mix.
General and administrative expenses increased $1.1 million, or 25%, from the prior year quarter. This increase was driven by personnel related expense increases corresponding to the business activity increases during the period.
Selling expenses decreased to $1.1 million in the current quarter, compared to $1.3 million in the prior year quarter due primarily to organizational changes in the roles of certain corporate employees.
Net interest expense increased to $0.3 million in the current quarter from $0.1 million in the prior year quarter. This increase was primarily related to the sale leaseback transaction for our operating facility in Tennessee entered into in April 2021.
Other income, net decreased to an income of $0.5 million in the current quarter, compared to income of $3.7 million in the prior year quarter. This decrease was a result of income recorded in the prior year quarter for funds received under the PPP program of $3.2 million.
Income from operations before income taxes increased by $4.1 million to $4.3 million in the current quarter from $0.2 million in the prior year quarter. The increase was a result of increased sales volumes in both North America and the Middle East due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.
The Company's worldwide effective tax rates ("ETR") were 20.1% and (56.8%) in the current quarter and the prior year quarter, respectively. The change in the ETR from the prior year quarter to the current year quarter is largely due to changes in the mix of income and loss in various jurisdictions.
The resulting net income of $3.4 million in the current quarter was an improvement of $3.1 million over the $0.3 million in the prior year quarter. The increase was a result of increased sales volumes in both North America and the Middle East due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.
Year-to-Date July 31, 2021 Results
Net sales were $64.2 million in the current year-to-date, an increase of $21.1 million, or 49%%, from $43.1 million in the prior year year-to-date. The increase was a result of increased sales volumes in both North America and the Middle East due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.
Gross profit increased to $15.2 million, or 24% of net sales, in the current year-to-date from $5.8 million, or 14% of net sales, in the prior year year-to-date. This increase was driven by higher sales volumes and project mix.
General and administrative expenses were $10.0 million in the current year-to-date, an increase of $1.2 million, or 14%, from $8.8 million in the prior year year-to-date. This increase was driven by personnel related expense increases corresponding to the business activity increases during the period.
Selling expenses decreased to $2.1 million in the current year-to-date, compared to $3.0 million in the prior year year-to-date due to organizational changes in the roles of certain corporate employees as well as the continued effects of cost reduction strategies implemented during the COVID-19 pandemic.
Net interest expense remained relatively consistent, increasing slightly from $0.3 million in the prior year year-to-date to $0.4 million in the current year-to-date. This increase is primarily related to the sale leaseback transaction for our operating facility in Tennessee entered into in April 2021.
Other income, net decreased to $0.9 million in the current year-to-date, compared to $3.7 million in the prior year year-to-date. This decrease was a result of income recorded in the prior year for funds received under the PPP program of $3.2 million, offset by funds received under the CEWS and CERS programs in Canada.
Income/(loss) from operations before income taxes increased by $6.2 million to income of $3.6 million in the current year-to-date from a loss of ($2.6 million) in the prior year year-to-date. The increase was a result of increased sales volumes in both North America and the Middle East due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.
The Company's worldwide ETR's were 28.5% and 12.3% in the current year-to-date and the prior year year-to-date, respectively. The change in the ETR from the prior year to the current year was largely due to changes in the mix of income and loss in various jurisdictions.
The resulting net income of $2.6 million in the current year-to-date was an improvement of approximately $4.9 million over the net loss of ($2.3 million) in the prior year year-to-date. The increase was a result of increased sales volumes in both North America and the Middle East due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.
Percentages set forth above in this press release have been rounded to the nearest percentage point and may not exactly correspond to the comparative data presented.
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in six countries.
Forward-Looking Statements
Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s percentage-of-completion revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)
The Company's Form 10-Q for the quarter ended July 31, 2021 will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website.
PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) |
||||||||||||||||
|
|
Three Months Ended July 31, |
|
|
Six Months Ended July 31, |
|
||||||||||
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
||||
Net sales |
|
$ |
39,804 |
|
|
$ |
20,364 |
|
|
$ |
64,227 |
|
|
$ |
43,106 |
|
Cost of sales |
|
|
29,061 |
|
|
|
18,000 |
|
|
|
48,979 |
|
|
|
37,275 |
|
Gross profit |
|
|
10,743 |
|
|
|
2,364 |
|
|
|
15,248 |
|
|
|
5,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative expenses |
|
|
5,602 |
|
|
|
4,488 |
|
|
|
10,008 |
|
|
|
8,792 |
|
Selling expenses |
|
|
1,053 |
|
|
|
1,331 |
|
|
|
2,094 |
|
|
|
2,978 |
|
Total operating expenses |
|
|
6,655 |
|
|
|
5,819 |
|
|
|
12,102 |
|
|
|
11,770 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income/(loss) from operations |
|
|
4,088 |
|
|
|
(3,455 |
) |
|
|
3,146 |
|
|
|
(5,939 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
268 |
|
|
|
118 |
|
|
|
446 |
|
|
|
304 |
|
Other income, net |
|
|
457 |
|
|
|
3,739 |
|
|
|
899 |
|
|
|
3,674 |
|
Income/(loss) from operations before income taxes |
|
|
4,277 |
|
|
|
166 |
|
|
|
3,599 |
|
|
|
(2,569 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense/(benefit) |
|
|
861 |
|
|
|
(101 |
) |
|
|
1,026 |
|
|
|
(315 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss) |
|
$ |
3,416 |
|
|
$ |
267 |
|
|
$ |
2,573 |
|
|
$ |
(2,254 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
8,151 |
|
|
|
8,126 |
|
|
|
8,158 |
|
|
|
8,087 |
|
Diluted |
|
|
8,321 |
|
|
|
8,278 |
|
|
|
8,290 |
|
|
|
8,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings/(loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
0.42 |
|
|
|
0.03 |
|
|
|
0.32 |
|
|
|
(0.28 |
) |
Diluted |
|
|
0.41 |
|
|
|
0.03 |
|
|
|
0.31 |
|
|
|
(0.28 |
) |
Note: Earnings per share calculations could be impacted by rounding.
PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) |
||||||||
|
|
July 31, 2021 |
|
|
January 31, 2021 |
|
||
|
|
(Unaudited) |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
5,509 |
|
|
$ |
7,174 |
|
Restricted cash |
|
|
1,217 |
|
|
|
1,201 |
|
Trade accounts receivable, less allowance for doubtful accounts of $497 at July 31, 2021 and $474 at January 31, 2021 |
|
|
43,699 |
|
|
|
25,226 |
|
Inventories, net |
|
|
14,603 |
|
|
|
12,157 |
|
Prepaid expenses and other current assets |
|
|
9,125 |
|
|
|
4,110 |
|
Costs and estimated earnings in excess of billings on uncompleted contracts |
|
|
1,713 |
|
|
|
4,007 |
|
Total current assets |
|
|
75,866 |
|
|
|
53,875 |
|
Property, plant and equipment, net of accumulated depreciation |
|
|
25,626 |
|
|
|
26,897 |
|
Other assets |
|
|
|
|
|
|
|
|
Operating lease right-of-use asset |
|
|
11,848 |
|
|
|
13,384 |
|
Deferred tax assets |
|
|
879 |
|
|
|
823 |
|
Goodwill |
|
|
2,388 |
|
|
|
2,332 |
|
Other assets |
|
|
5,078 |
|
|
|
5,380 |
|
Total other assets |
|
|
20,193 |
|
|
|
21,919 |
|
Total assets |
|
$ |
121,685 |
|
|
$ |
102,691 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
Trade accounts payable |
|
$ |
16,735 |
|
|
$ |
10,365 |
|
Accrued compensation and payroll taxes |
|
|
1,875 |
|
|
|
1,448 |
|
Commissions and management incentives payable |
|
|
1,116 |
|
|
|
218 |
|
Revolving line - North America |
|
|
3 |
|
|
|
2,826 |
|
Current maturities of long-term debt |
|
|
3,177 |
|
|
|
3,941 |
|
Customers' deposits |
|
|
2,774 |
|
|
|
2,088 |
|
Outside commission liability |
|
|
2,357 |
|
|
|
1,431 |
|
Operating lease liability short-term |
|
|
1,367 |
|
|
|
1,402 |
|
Other accrued liabilities |
|
|
4,279 |
|
|
|
2,616 |
|
Billings in excess of costs and estimated earnings on uncompleted contracts |
|
|
1,781 |
|
|
|
762 |
|
Income taxes payable |
|
|
1,470 |
|
|
|
1,155 |
|
Total current liabilities |
|
|
36,934 |
|
|
|
28,252 |
|
Long-term liabilities |
|
|
|
|
|
|
|
|
Long-term debt, less current maturities |
|
|
5,444 |
|
|
|
6,268 |
|
Long-term finance obligation |
|
|
9,371 |
|
|
|
- |
|
Deferred compensation liabilities |
|
|
4,167 |
|
|
|
4,120 |
|
Deferred tax liabilities |
|
|
1,057 |
|
|
|
914 |
|
Operating lease liability long-term |
|
|
11,890 |
|
|
|
13,174 |
|
Other long-term liabilities |
|
|
753 |
|
|
|
650 |
|
Total long-term liabilities |
|
$ |
32,682 |
|
|
$ |
25,126 |
|
Stockholders' equity |
|
|
|
|
|
|
|
|
Common stock, $.01 par value, authorized 50,000 shares; 8,144 issued and outstanding at July 31, 2021 and 8,165 issued and outstanding at January 31, 2021 |
|
|
81 |
|
|
|
82 |
|
Additional paid-in capital |
|
|
61,169 |
|
|
|
60,875 |
|
Accumulated deficit |
|
|
(5,784 |
) |
|
|
(8,357 |
) |
Accumulated other comprehensive loss |
|
|
(3,397 |
) |
|
|
(3,287 |
) |
Total stockholders' equity |
|
|
52,069 |
|
|
|
49,313 |
|
Total liabilities and stockholders' equity |
|
$ |
121,685 |
|
|
$ |
102,691 |
|
Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
(847) 929-1200
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TULSA, Okla.--(BUSINESS WIRE)--Williams’ (NYSE: WMB) board of directors has authorized a share repurchase program (the “Share Repurchase Program”) for the repurchase of up to $1.5 billion of the company’s outstanding common stock. The Share Repurchase Program is effective immediately.
“With a strong balance sheet and excess free cash flow, we are well positioned to execute on this attractive opportunity to invest in Williams,” said Williams President and CEO Alan Armstrong. “Consistent with our commitment to creating sustainable value for our shareholders, this program is part of a broader capital allocation strategy we are pursuing to maximize shareholder returns in the coming years.”
Under the share repurchase authorization, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The timing and amount of any shares of the company’s common stock that are repurchased under the share repurchase authorization will be determined by the company’s management based on market conditions and other factors. The company will only repurchase shares when management believes it would not jeopardize the company’s current credit ratings. In addition, the company only intends to execute buybacks opportunistically in response to what it believes is a significant stock price dislocation. The share repurchase authorization does not obligate the company to acquire any particular amount of common stock, and may be modified, suspended or discontinued at any time or from time to time at the company’s discretion.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
Media:
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(800) 945-8723
Investor Contact:
Danilo Juvane
(918) 573-5075
Grace Scott
(918) 573-1092
Mixed cargo terminal forgoes manual processes in favor of digitized approach via new TOS, delivering integrated, real-time view of all operations and data
OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced that C. Steinweg’s Botlek Terminal has completed its implementation of Master Terminal by Navis. The implementation of the leading terminal operating software for mixed cargo ports is another step in C. Steinweg’s plan to roll out Master Terminal across its broader network of terminals in Rotterdam, South Holland, the largest and one of the most technologically advanced seaports in Europe.
Botlek, a small container terminal that handles break-bulk cargo and operates at 17,500 TEU annually, went live with Master Terminal in April in a seamless operation. Navis performed the implementation and subsequent training remotely over the course of 14 weeks, which allowed the project to continue as COVID-19 protocols fluctuated in the Netherlands.
Previously, Botlek had been running its container operation via legacy applications, which had decreased efficiency and delayed processes with extra administrative tasks. Master Terminal by Navis, which can be leveraged for break-bulk, as well as container cargo, enables the operator to digitize processes, reducing manual inputs and significantly increasing efficiencies in day-to-day operations.
“After years of transporting cargo via laborious manual processes, our team worked tirelessly with Navis to implement a solution that would allow us to optimize the flow of containers within the Botlek facility,” said Didier Boot, Product Owner at C. Steinweg Terminal Operations. “Automation and integration were the biggest features of implementation, which has digitized our flow of containers at our terminals. With our more efficient operation, we have been able to provide data consistency and standardization across various terminals. This allows us to be a reliable partner in the shipping industry.”
The Master Terminal by Navis operating system provides an integrated, real-time view of all operations and data at any marine or inland terminal to enhance productivity and operational efficiency. The customizable operating system helps manage general and mixed cargo with intermodal capabilities.
Botlek is the fourth terminal from C. Steinweg to add Master Terminal by Navis as part of a deal to incorporate the operating system at 6 total terminals, including one in Sohar, Oman. Following its success, the rollout at Botlek will act as the blueprint for implementation moving forward. Master Terminal by Navis went live in July at Pier 1, the fifth terminal to add the Navis product, and one additional terminal is set to go live before the end of the year.
“Our biggest challenge in implementing Master Terminal at Botlek was unquestionably the pandemic,” said Jacques Marchetti, General Manager, EMEA at Navis. “We were able to smoothly integrate the software 100% remotely, which helped recover some time that was lost. This powerful tool is able to manage the complexities found within the mixed cargo terminal landscape and associated with multi-site implementations, all from a single database. We look forward to solving those challenges at other C. Steinweg terminals and delivering a system that provides better visibility into their operations; enabling smarter, faster decisions across the board.”
For more information visit www.navis.com.
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. 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.
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Katie Vroom
Gregory FCA
T+1 212 398 9680
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