With temperatures on the rise, renewable energy provider takes Texans to Little Woodrows for ice-cold beverages to conserve home energy
HOUSTON--(BUSINESS WIRE)--Renewable energy retailer Octopus Energy today announced its first-ever customer Octo Cool Down to beat the heat and conserve energy as Houston approaches high temperatures amid a growing Texas population, leading to what may be the largest peak usage ever on the Texas grid. Part of the company’s recently announced Superpower Savings program, which financially rewards its Texas customers who conserve energy during times of extreme heat, the Superpower Savings’ Octo Cool Down for Houston customers will take place today at Little Woodrows, Katy from 3 to 7 p.m. CDT.
Cities across the globe are seeing record breaking temperatures and the impact that this extreme heat has on the overall stability of the grid, whether through city officials calling for voluntary electricity conservation or households experiencing power outages. What many consumers do not know, however, is that raising the temperature of a thermostat by just a few degrees can help to decrease stress on the grid and reduce the chance of rolling blackouts during extreme weather.
Octopus Energy’s Super Savings program and today’s Octo Cool Down event aim to engage Texans to help the state conserve energy during extreme weather and avoid a grid reliability issue. To join the Octo Cool Down event, all Houston-based Octopus Energy customers need to do is show up at Little Woodrows, give Octopus Energy staff your Octopus Energy account number, and show a picture of your thermostat set to 80°F. Customers can also bring a plus one to the inaugural Octo Cool Down to introduce them to Octopus Energy.
“With today’s Octo Cool Down, we don’t just want to keep Texans cool, but we also want to show how easy it is for anyone to engage with their energy use and take small actions that can make an outsized impact on keeping the energy grid strong and secure,” said Michael Lee, CEO of Octopus Energy U.S. “Residential customers can provide some of the biggest impacts to grid flexibility and are an untapped resource in helping to maintain grid stability. Whether in times of extreme weather or not, we believe that customers should benefit when they choose to conserve energy and help to balance the grid for themselves and their communities.”
In addition to the Superpower Savings program, Octopus Energy gives customers full wholesale power credits when they sell back to the grid. That means customers who have solar or generators at home can support the stability of the grid while also putting cash back in their pockets.
About Octopus Energy
Octopus Energy Group is a technology-driven, renewable energy retailer, directly supplying over 2 million customers globally with 100% green electricity at a cheaper price and with a focus on incredible customer service. Founded five years ago as a global energy retailer, Octopus Energy entered the U.S. market in 2020, forming Octopus Energy U.S. and fueling the company’s global expansion. Octopus Energy is valued at over $2 billion and is one of energy-tech’s fastest-growing private companies. To learn more, visit: www.octopusenergy.com
Pakelody Cheam
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HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) announced that on August 24, 2021 it completed the previously announced redemption of (i) all of the $1.0 billion outstanding aggregate principal amount of its 7.25% senior notes due 2026 (the “2026 Notes”) and (ii) $355 million of the $1.23 billion outstanding aggregate principal amount of its 6.625% senior notes due 2027 (the “2027 Notes”).
The redemption price for the redeemed 2026 Notes and 2027 Notes was an amount equal to 103.625% and 103.313% of the principal amount of the redeemed 2026 and 2027 Notes, respectively, plus accrued and unpaid interest, in each case, to the date of redemption.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future.
Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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Oversubscribed B Round Brings Total Raised to over $60 Million
Company Brings on New Board Member Jeannine Sargent to Help Accelerate Malta’s Scale-up and Commercialization Ramp-up
CAMBRIDGE, Mass.--(BUSINESS WIRE)--#energystorage--Malta Inc., a pioneer in long-duration energy storage, today announced that Chevron Technology Ventures and Piva Capital have joined Proman, Alfa Laval, Breakthrough Energy Ventures, and Dustin Moskovitz in its oversubscribed Series B financing, increasing the round to over $60 million. The new capital will be used to advance the company’s commercialization strategy.
“We are thrilled to have Chevron Technology Ventures and Piva Capital investing in Malta. Our mission is to make renewables dispatchable. The Malta system can achieve this by storing days of electricity that is available whenever needed,” said Ramya Swaminathan, CEO at Malta Inc. “We are also excited to have Jeannine on the Board. Her expertise and experience will bring tremendous value at this important stage in Malta’s growth.”
The rapid increase in demand for data centers, and the ‘electrification of everything’, combined with coal-fired power plants and nuclear sites going offline have led to increased global demand for long-duration energy storage at grid scale.
According to the U.S. Energy Information Administration, in 2020 19% of US electricity generation came from coal-fired power plants, but it produced 54% of all the sector emissions. The decommissioning of 50+ coal fired power plants expected in the U.S. by 2030 will need to be matched by renewables and other power generation sources, combined with longer than 12 hours of energy storage to maintain grid stability at scale. This creates a $60 billion opportunity to replace coal fired power plants in the next nine years. The worldwide demand for long-term energy storage is multiples of this figure by 2030, and it is expected to continue to rapidly grow over time to enable 100% renewable penetration, a crucial element to achieve net-zero by 2050.
“Malta has the potential to be a key enabler of grid stability as renewables have become a greater portion of the energy mix,” said Barbara Burger, Vice President, Innovation and President of Technology Ventures at Chevron. “This is the latest investment from our recently launched $300 million Future Energy Fund II, which focuses on industrial decarbonization, emerging mobility, energy decentralization, and the growing circular carbon economy.”
“At Piva Capital, we identify, invest in, and support visionary entrepreneurs and companies that are solving the world’s most critical problems facing industry and energy,” said Ricardo Angel, Managing Partner of Piva Capital. “There are many solutions working to meet the rapidly growing demand for long-duration energy, however, Malta has developed the most reliable solution to sustainably power the world’s growing energy needs. When combined with a top-notch management team and a strong syndicate and partners including Alfa Laval, Proman, and Siemens Energy, Malta is well-positioned to be the leader in the market.”
Malta, which was spun out of X, the Moonshot Factory (formerly Google [X]), has developed a Pumped Heat Energy Storage (PHES) system. This new approach leverages thermodynamic systems to provide long-duration, large-scale, cost-effective, and safe energy storage. It converts electricity from any source, either directly from a generation facility or from the grid, to be stored as thermal energy. The company’s technology is able to satisfy a daily or weekly load cycle by efficiently storing up to 200 hours of energy. In addition to dispatchable renewable energy, Malta’s PHES technology can generate heat for industrial and district heat applications.
New Board Member and Recent Company Momentum
Malta is also announcing that Jeannine Sargent is joining its Board of Directors. Ms. Sargent brings more than 30 years of international operating management, M&A, business strategy, and technology experience across multiple sectors. She has successfully built and scaled venture-backed and global public technology companies and launched several disruptive hardware and software products. She serves on the Boards of Fortive, Synopsys, Proterra, and Queen’s Gambit Growth Capital.
"Long-duration energy storage (LDES) is one of the critical enablers for carbon-free electricity 24/7”, said Jeannine Sargent. “Malta's solution is ready to deploy now and offers a path to accelerate LDES global deployments and contribute to the world's energy transition. I am excited to work with the exceptional team at Malta.”
Malta recently announced a partnership with Siemens Energy to develop heat pump and heat engine components to support a utility-scale 100MW system for 10-200 hours of storage and further scaling to GW power range. In addition, the company plans to develop its first 100MW long-duration storage project in the 2024-2025 timeframe and has a pipeline of projects in North America, Europe, and the Middle East.
About Malta Inc.
Malta is a developer of grid-scale long-duration thermal energy storage solutions. Incubated at X, the Moonshot Factory (formerly Google [X]), Malta is based in Cambridge, Massachusetts. For more information visit www.maltainc.com.
About Chevron Technology Ventures
Chevron Technology Ventures (CTV) pursues externally developed technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and ever-cleaner energy. CTV leverages innovative companies and technologies to strengthen Chevron’s core operations and identifies new opportunities to shape the future of energy. For more information, visit www.chevron.com/technology/technology-ventures.
About Piva Capital
Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs who are solving the world’s critical problems in the industrial and energy spaces via breakthrough technology and innovative business models. For more information, please visit us at Piva.vc, on LinkedIn and Medium.
For Malta Inc.: Matt Burke This email address is being protected from spambots. You need JavaScript enabled to view it.
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its Energy Transition Spotlight conference call and webcast on Tuesday, September 14, 2021 at 10:00 a.m. ET (7:00 a.m. PT) to provide more details on how we plan to lower carbon intensity in our operations and grow lower carbon businesses.
Speakers:
Mike Wirth – Chairman of the Board and Chief Executive Officer
Mark Nelson – Executive Vice President, Downstream & Chemicals
Bruce Niemeyer – Vice President, Strategy and Sustainability
Jeff Gustavson – President, Chevron New Energies
The meeting will include presentations by several members of our Leadership Team, including our Chairman and Chief Executive Officer, Mike Wirth. After the formal presentation, we will hold a live question and answer session.
Conference Call and Webcast Information:
Date: Tuesday, September 14, 2021
Time: 10:00 a.m. ET / 7:00 a.m. PT
Live Webcast: www.chevron.com
Dial-in # (Listen-only mode): 833-548-0282
Conference ID #: 812 1440 1661
The meeting replay will also be available on the company website under the “Investors” section.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
Sean Comey
+1 (925) 842-5509
NEW YORK--(BUSINESS WIRE)--#energyefficiency--utiliVisor, a leader in utility submetering and plant optimization, announced today it has been chosen as a qualified vendor for the Real-Time Energy Management + Tenants program (RTEM + Tenants) from the New York State Energy Research and Development Authority (NYSERDA).
Funded through New York State’s systems benefit charge (SBC), the goal of the $25 million RTEM + Tenants program is to support the implementation and use of energy management systems and services to reduce energy use in commercial office buildings, including in tenant spaces. A 2016 inventory of New York City’s greenhouse gas emissions (GHG) reported that commercial buildings are responsible for 39% of the city’s total GHG emissions. Therefore, commercial office tenants are critical to reducing a building’s overall energy demand and its emissions.
Part of the new generation of smart building technology, RTEM systems use meters, sensors, and controls to collect and monitor a building’s energy performance data over time. The data collected can then be used to detect abnormal energy consumption, help optimize equipment performance, and minimize maintenance time and expense.
utiliVisor has been a NYSERDA-approved RTEM system and service provider since 2016 and is proud to be chosen as one of the first vendors for the new RTEM + Tenant program. “Building owners don’t have to sacrifice tenant comfort or requirements to improve energy efficiency,” said Tim Angerame, utiliVisor’s chief operating officer. “We analyze the data from an RTEM system at both a high and a granular level to identify inefficiencies and faulty equipment. From that analysis we make actionable recommendations that improve energy performance, educate tenants on their carbon footprint and avoid unnecessary costs.”
Tenant education and behavioral change strategies are integral to effective energy management programs. Recently, utiliVisor met with a client’s tenant—a business with approximately 150,000 sq ft of office space in Manhattan. Leveraging the existing submeter network and billing platform in place, utiliVisor’s Operations Center analyzed the tenant’s RTEM data to determine the associated HVAC, lights and plug load energy/costs. After discussion with the tenant, HVAC schedules were adjusted to reflect the business’s actual hours, rather than the 24/7 schedule that had been assumed. These changes identified a savings of approximately 151,000 kWh, or a cost reduction to the tenant of more than $30,000 per year.
NYSERDA’s RTEM + Tenant program provides cost sharing of up to 33% for RTEM system implementation and services for up to three years. For a property to qualify, its buildings must include multiple tenants and the RTEM system must monitor at least 75% of total building energy consumption, including tenant loads.
“In our experience, owners and operators get great value out of participating in RTEM systems and services because monitoring achieves real savings. And thanks to the incentives provided by NYSERDA, building owners don’t have to pay the full system price or wait to receive rebates,” said Angerame.
To learn more about submetering and how utiliVisor can help you, visit our submetering overview.
To learn if you qualify for NYSERDA’s RTEM programs, visit https://www.nyserda.ny.gov/All-Programs/Programs/Real-Time-Energy-Management.
ABOUT UTILIVISOR
Your tenant submetering and energy plant optimization services are an essential part of your operation. You deserve personalized energy insights from a team that knows buildings from the inside out, applies IoT technology and is energized by providing you with accurate data and energy optimization insights. When you need experience, expertise, and service, you need utiliVisor on your side, delivering consistent energy and cost-saving strategies to you. What more can our 40 years of experience and historical data do for you? Call utiliVisor at 212-260-4800 or visit https://www.utilivisor.com/.
Kathy Fealy
utiliVisor Marketing Director
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TAMPA, Fla.--(BUSINESS WIRE)--#Tampa--Vision Solar, one of the fastest growing residential solar companies has opened another location reaching far into the west coast of Florida.
Vision Solar is on track towards its growth projection to grow into a $200M+ company in revenues by EOY 2021, with yet another announcement of rapid expansion into the west coast of Florida, Tampa.
Through the opening of a Tampa location, we will be able to provide an expansion of solar panel installation service areas beyond south FL.
Home sales in Tampa are expected to rise by 8.7% while prices are expected to rise by 7.5% in 2021.
With the increase in real estate sales comes new homeowners that are eager to add value to their homes, through the utilization of renewable energy.
Solar panels not only reduce a home's monthly utility bills, but can also potentially increase the home's value by up to 4.1% more than comparable homes without solar panels.
Florida's generous electricity buy-back rates, sales tax exemption, property tax exemption, and solar tax rebate combine to give an attractive solar payback period of 11 years on average, making solar a prudent investment.
Vision Solar understands the importance of creating a cleaner environment through the use of renewables and providing homeowners the opportunity to lower their utility bills by 35% or more, depending on their state of residence.
“As part of Vision Solar's commitment to adding 1,000+ green renewable jobs to their workforce, Tampa will become our third of five service locations in the sunshine state.”
- Jonathan Seibert, CEO
About Vision Solar
Vision Solar is one of the fastest growing solar energy companies in the United States. Their full-service renewable energy company installs solar services for residential homes nationwide. Over the past three years, Vision Solar has grossed over $100 million in revenue, with significant increase in projected growth for 2021. To learn more visit https://visionsolar.com
John Czelusniak, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Offshore Wind Market by Component (Turbines (Nacelle, Rotors & Blades, Tower), Substructure, Electrical Infrastructure), Location (Shallow Water, Transitional Water, & Deepwater) and Region (North America, Asia Pacific, & Europe) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The offshore wind market is projected to reach USD 56.8 billion by 2026 from an estimated USD 31.8 billion in 2021, at a CAGR of 12.3% during the forecast period.
Increasing demand for renewable energy.
The emergence of offshore wind farms started with the necessity to reduce greenhouse gas emissions and increase the share of renewable energy in the total energy mix. With the globally increasing consumption of electricity, new technologies are expected to influence the production, transmission, distribution, and use of electricity. Conventional sources of electricity lead to climatic changes, environmental pollution, and other issues. Thus, the offshore wind market is gaining momentum, and there exists a lot of untapped potential in this market.
The turbines segment is expected to grow at the highest CAGR from 2021 to 2026.
Based on the components of offshore wind systems, the turbine is estimated to be the fastest-growing market from 2019 to 2026. The segment includes nacelle, rotors and blades, and tower. Growth of the renewable market Asia Pacific and North America is expected to drive the offshore wind market.
Deep water is expected to emerging market by location.
The improving turbine technology and larger turbines are being used to harness the constant strong wind available in deep sea which in turn is attracting more offshore wind farm development in this location. Many large players such as Orested, Vestas are already developing the wind farms in deep sea and also developing technologies to sustain the climatic challenges present in deep sea.
Europe: The largest offshore wind market.
Europe accounted for the largest share of 57% of the offshore wind market amongst all regions in 2020. The European market is further segmented into UK, Germany, Denmark, Belgium, Netherlands, Sweden, Finland, Ireland, and Rest of Europe. The European region is home to several major offshore wind companies such as Siemens (Germany), Nordex SE (Germany), Vestas (Denmark), ABB (Switzerland) and many more. European region has been a pioneer in offshore wind technology and offshore wind farm development. The countries in the EU are primarily focusing on upgrading their aging electrical infrastructure, and governments of these countries are promoting power generation through renewable energy sources and are building networks, from generation to end-users, to allow for efficient power and energy trading.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/edm989
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components, Inc. ("Lippert"), supplies, domestically and internationally, a broad array of highly engineered components for the leading original equipment manufacturers ("OEMs") in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced that its Board of Directors approved a regular quarterly cash dividend of $0.90 per share of common stock.
The dividend is payable on September 17, 2021, to stockholders of record at the close of business on September 3, 2021.
About LCI Industries
LCI Industries, through its wholly-owned subsidiary, Lippert, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries, primarily by selling to retail dealers, wholesale distributors, and service centers. Lippert's products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about Lippert and its products can be found at www.lci1.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.
Forward-looking statements, including, without limitation, those relating to our future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of COVID-19, or other future pandemics, on the global economy and on the Company's customers, suppliers, employees, business and cash flows, pricing pressures due to domestic and foreign competition, costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.
Brian M. Hall, CFO
(574) 535-1125
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Fortune 100 business and energy corporate leader to join fast-growing mobilizer for energy transition
DENVER--(BUSINESS WIRE)--Guzman Energy, a wholesale power provider based in Colorado, has announced that Mark Vanderhelm will be joining the organization as chief operating officer.
Vanderhelm joins Guzman Energy from Walmart where he most recently served as a vice president for energy and facilities management. For Walmart Energy, Vanderhelm led competitive and regulated supply, regulatory, energy resilience, renewables, EV charging, and innovation, demonstration, and deployment of technologies impacting cost and carbon footprint. As such, he oversaw Walmart’s U.S. commitment to Zero Emissions by 2040 and Zero Waste by 2025. For Walmart Facilities Maintenance, Vanderhelm led the revitalization of the team with a new business model and sufficient resources to create enhanced cost-efficient store service that leverages asset digitization, IoT, and advanced analytics to drive long-term value.
Prior to joining Walmart, Vanderhelm managed generation and renewables development for Exelon Generation. In this role, Mark led the team responsible for developing new generation projects including gas, solar, biomass, storage and hydro, as well as investing in new electricity-based technologies throughout the U.S. and Canada.
“Mark’s strong business acumen and track record translating energy strategy into game-changing outcomes makes him an ideal addition to the Guzman Energy senior leadership team,” said Christopher Miller, president of Guzman Energy. “As our business continues to grow, Mark will play a critical role in leading operations delivering customer value through more cost-efficient and cleaner energy programs.”
Vanderhelm brings 20 years of experience in conventional and renewable electricity markets and projects, technology, and related talent management to his senior role at Guzman Energy. As a technical and business strategist, Vanderhelm brings considerable expertise in building new business functions, delivering complex construction projects, investing in new technologies, and establishing joint ventures.
“I am honored to join the highly successful Guzman Energy team and lean into their mission of creating reliable power at reliable prices,” said Vanderhelm.
Vanderhelm holds a B.S. in mechanical engineering from University of Texas. He went on to earn a M.S. and Ph.D. in nuclear engineering from Massachusetts Institute of Technology, where he co-directed the Institute of Nuclear Power Operations’ Reactor Technology Course for Utility Executives.
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Learn more at guzmanenergy.com.
Jill Petersen
Fitzgerald Petersen for Guzman Energy
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STOCKHOLM--(BUSINESS WIRE)--Procuritas Capital Investors V (“Procuritas”), the private equity investor focused on investing in and growing Nordic mid-market companies, today announced that it has sold Dantherm Group (“Dantherm”), the leading provider of climate control products and solutions, to German private equity fund, DBAG Fund VIII, advised by Deutsche Beteiligungs AG.
Headquartered in Denmark, Dantherm has more than 60 years’ experience in designing and manufacturing high quality and energy efficient equipment for heating, cooling, drying, cleaning and ventilation for a wide range of portable and installed applications.
After acquiring the business in 2016, Procuritas invested in Dantherm to enable it to expand the geographical presence, to expand the product range and to take a leading market position in its core businesses in Europe.
Alongside the expansion of the business’ sales capabilities, strengthened senior management team and investment in its own manufacturing capacity, Procuritas utilized its extensive value creation expertise and network to partner with the Group to implement an active buy and build strategy. Under Procuritas’ ownership, Dantherm acquired close to 20 entities in its core markets of the UK, Italy, Denmark, Germany, France, Poland, Russia, Switzerland and Spain, realizing considerable integration synergies and significantly expanding the group’s capabilities and scale, resulting in a more than threefold rise in revenues and EBITDA growth of almost 700%.
Dantherm now operates in Norway, Sweden, Denmark, United Kingdom, Germany, Switzerland, Italy, Spain, Poland, Russia, France and China, where its strong brands – Aerial, Aircenter, BioCool, Calorex, Dantherm, Heylo, Master, SET and Sovelor – have well-established market positions. The group’s customers benefit from a comprehensive knowledge base and the experience and expertise from more than three million climate control products and solutions sold worldwide.
Hans Wikse, Partner at Procuritas, commented: “We are delighted to have sold Dantherm to DBAG Fund VIII, advised by Deutsche Beteiligungs AG, having received keen interest from several parties. We think it is a great fit for the company and they will have a great future. Dantherm has been a classic buy and build investment for Procuritas and our strategy was implemented following the methodical process we have undertaken with many other investments over the years.”
Bjarke Brøns, CEO of Dantherm commented: “Over the past six years we have transformed Dantherm to become a market leading provider of selected climate control solutions. Procuritas has been a great partner to work with and their expertise in transforming companies through acquisition and by institutionalizing the business has been a great support as we have grown the Group. We see continued and extended market opportunities within our business and are excited to continue the development of Dantherm in the future with DBAG.”
Oskar Lindholm-Wu, Partner at Procuritas, commented: “It has been a pleasure to work with the Dantherm team, putting our passion for building strong sustainable businesses through transformational growth to work. Together, we have achieved remarkable growth, transforming the group into the leader in all its core markets across Europe. We wish Dantherm a prosperous future.”
DC Advisory served as M&A advisor, Kromann Reumert as legal advisor and EY as financial due diligence advisor to Procuritas and Dantherm in connection with the transaction.
About Procuritas
Procuritas is a private equity investor, focused on investing in and growing Nordic mid-market companies. With a passion for business, hands-on active ownership approach and more than thirty-year record from a large variety of transactions, it has supported more than 45 companies in accelerating their growth and realizing their true business potential. As owners, Procuritas is characterized by its enthusiasm, commitment, and strong belief that it is an ally in the quest to build strong and sustainable businesses. Read more at www.procuritas.com.
About Dantherm Group
Headquartered in Skive, Denmark, the Dantherm Group is a European leader in portable and installed climate control solutions for a wide range of industries within heating, drying, cooling, cleaning and ventilation. Dantherm has subsidiaries in Norway, Sweden, UK, Germany, Switzerland, Italy, France, Spain, Poland, Russia and China. In 2016 the Dantherm Group was acquired by Procuritas Capital Investors V LP. Read more at www.danthermgroup.com.
Hans Wikse
+46 708 61 2377 / This email address is being protected from spambots. You need JavaScript enabled to view it.
Oskar Lindholm-Wu
+46 706 97 0176 / This email address is being protected from spambots. You need JavaScript enabled to view it.
Media – Kepler Communications:
Charlotte Balbirnie
+44 7989 528421 / This email address is being protected from spambots. You need JavaScript enabled to view it.
Caroline Villiers
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DUBLIN--(BUSINESS WIRE)--The "Global Electric Vehicle Charging Infrastructure Market" report has been added to ResearchAndMarkets.com's offering.
The Global Electric Vehicle Charging Infrastructure Market is expected to grow from USD7.39 billion in 2020 to USD36.72 billion in 2026, growing at CAGR of 31.22% until 2026 because of increased GHG emission and rising demand for electric vehicles, globally.
Increasing level of pollution is a major environmental issue and every country is taking necessary steps to overcome the problem. Vehicles based on petrol, diesel and other fuels are one of the major reasons behind increasing the level of pollution. Gases like carbon dioxide, carbon monoxide, etc. coming out of the vehicles are also depleting the ozone layer.
To overcome this problem, countries are spreading awareness among their citizens to use electric vehicle and offering subsidies on its purchase, helping in decreasing vehicular pollution. As the demand for electric vehicles is increasing, it is important to develop or setup new EV charging stations to overcome the shortage of charging stations.
The Global Electric Vehicle Charging Infrastructure Market can be segmented based on vehicle type, by type, by charging mode, by installed location, by connector type and by type of charging. On the basis of vehicle type, the market can be classified into two-wheeler, four-wheeler and commercial vehicle.
Two-wheelers accounted for the majority market share, and the demand for electric two-wheelers is forecast to grow in future as well due to huge fluctuation in petrol prices around the world. Owing to enormous number of two-wheelers, more charging stations for electric two-wheelers are available than for electric four-wheelers.
During the projected period, two-wheeler charging infrastructure will continue to outnumber four-wheeler charging infrastructure, but it is estimated that four-wheeler charging infrastructure will grow at a brisk rate in the forecast year owing to consumer awareness and several initiatives taken by government of several countries to transform their vehicle fleet into electric.
Based on type, AC charging stations are more than DC because of low power consumption and are cost-effective to setup. However, due to more charging time, it is expected that the DC charging station will show a good growth in the forecast period. Based on charging mode, plug-in charging stations are more than 95% and are expected to dominate the wireless charging station. Based on installed location, commercial EV charging station dominates the residential EV charging station because of cost of installation is more for residential EV charging station than commercial charging station.
Due to increasing fleet of electric vehicle, it is expected that residential EV charging station will increase in forecast period at a good year-on-year growth, but commercial EV charging station will dominate in future as well. Based on the type of charging, the slow EV charging stations are more than fast charging but as the fleet of electric vehicle increases, the demand for fast charging station will also increase.
Regionally, the market for Electric Vehicle Charging Infrastructure is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe & CIS, Middle East & Africa and South America. Asia-Pacific was the biggest region in terms of Electric Vehicle Charging Infrastructure in 2020 and it is expected that it will dominate in future as well.
The major reason behind the dominance of Asia-Pacific is the increasing fleet of electric vehicles and rapid growth of EV charging stations in China. In terms of new installation of EV charging station, China itself has the share of above 50% in 2020. Europe has the share of approximately 30% in EV charging station in 2020 and it is expected that in terms of region wise sales, it will continue to be on second position after Asia-Pacific followed by North America, South America and Middle East & Africa.
Key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.
Major players operating in the Global Electric Vehicle Charging Infrastructure Market are
Report Scope:
Years considered for this report:
Global Electric Vehicle Charging Infrastructure Market, By Vehicle Type:
Global Electric Vehicle Charging Infrastructure Market, By Type:
Global Electric Vehicle Charging Infrastructure Market, By Charging Mode:
Global Electric Vehicle Charging Infrastructure Market, By Installed Location:
Global Electric Vehicle Charging Infrastructure Market, By Connector Type:
Global Electric Vehicle Charging Infrastructure Market, By Type of Charging:
Global Electric Vehicle Charging Infrastructure Market, By Region:
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LONDON--(BUSINESS WIRE)--Hunting PLC (LSE : HTG), the international energy services group, today announces that it has invested $5.0 million in Cumberland Additive Holdings LLC, (“CAH”) to become a 27% holder in the capital of CAH, following completion of the transaction. The parties have also agreed to certain customary minority rights and obligations in connection with Hunting’s equity interest in CAH, including representation on CAH’s board of directors.
Headquartered in Pflugerville, Texas, CAH offers engineering design services and production of parts via additive manufacturing in both metals and polymer materials using powder bed fusion technology. CAH holds AS9100D and ITAR accreditations, supporting customers in the aerospace, defense, space, oil and gas and energy sectors who demand strongly quality assured components to operate in high performance environments. CAH currently occupies 30,000 square feet at their Texas location. CAH is in the process of establishing their second location in Pittsburgh, Pennsylvania, which will improve supply chain efficiency.
The investment in CAH provides Hunting with access to the fast growing additive manufacturing sector, which is increasingly being adopted by many of the Group’s current oil and gas clients, while also providing opportunities for Hunting to enter new sectors complementary to the Group’s current customer profile.
Jim Johnson, Chief Executive of Hunting, commented:
“Hunting’s investment in CAH is a key part of our strategy to access new manufacturing technologies which are being adopted by our current customers, but also provides new market and customer opportunities in sectors complementary to our core competencies of precision engineering and strongly quality assured products and procedures, including aerospace and defense. The Group was attracted by CAH’s materials and process engineering know-how and expertise which we believe will complement our existing engineering and manufacturing leadership in our chosen sectors of focus. We look forward to building a strong collaboration with our existing businesses in the coming years.”
Dawne Hickton, Chair and Lead Investor of CAH, added:
“The investment by Hunting will assist CAH in achieving its growth ambitions, while providing new customer opportunities through their global operating footprint.”
Notes to Editors:
About Additive Manufacturing
Additive Manufacturing (AM) describes processes and technology that build 3D objects by adding material layer by layer using plastics, metals or other suitable materials. AM is particularly efficient for low-volume manufacturing to minimize waste.
Metal additive manufacturing benefits complex designed parts or components where lighter weight is advantageous in the end application and can include automotive, aerospace or medical components.
About Hunting PLC
Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.
The Group reports in US dollars across four segments: Hunting Titan, North America, Europe, Middle East and Africa (“EMEA”) and Asia Pacific.
Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66.
Hunting PLC
Tel: +44 (0) 20 7321 0123
Jim Johnson, Chief Executive
Bruce Ferguson, Finance Director
Tarryn Riley, Investor Relations
Buchanan
Tel: +44 (0) 20 7466 5000
Ben Romney
Chris Judd
Offshore wind substation will be built at Kiewit’s Texas facility; New York union workers will support installation off Long Island coast
INGLESIDE, Texas--(BUSINESS WIRE)--In a major milestone for the growth of the U.S. offshore wind supply chain, offshore wind joint development partners Ørsted and Eversource announced today the commencement of the first American-built offshore wind substation, which will be deployed at the developers’ South Fork Wind project serving New York’s Long Island.
Ørsted and Eversource have selected Kiewit Offshore Services, Ltd. (Kiewit), the largest offshore fabricator in the U.S., to design and build the substation for the 132-megawatt South Fork Wind project – New York’s first offshore wind farm. The 1,500-ton, 60-foot-tall substation will be built at Kiewit’s facility in Ingleside, Texas, near Corpus Christi.
More than 350 workers across three states will support this South Fork Wind structure. The fabrication workers in Ingleside will be supported by teams in Houston and Kansas. In addition, hundreds of union workers in the Northeast will support the South Fork Wind project and additional initiatives in the region.
In selecting Kiewit, Ørsted, along with Eversource, continues to lead in building the U.S. offshore wind supply chain and is the first U.S. offshore wind developer to select an American contractor to fabricate a wind farm’s offshore substation.
“We’re helping to build a new U.S. manufacturing industry that will create thousands of good-paying jobs not just in the Northeast but in communities across the United States,” said David Hardy, Chief Executive Officer of Ørsted Offshore North America. “We’re proud to partner with Kiewit to deliver the first American-made offshore wind substation. This initiative is part of our commitment to deliver for our long-term partners, combining international experience with local expertise in communities across the country.”
"Achieving our nation's clean energy goals will be largely dependent on U.S.-based companies like Kiewit, and we are excited to partner with them to deliver the first U.S.-made offshore wind substation," Joe Nolan, Chief Executive Officer and President of Eversource Energy. "Our partnership with Kiewit marks another significant milestone for the U.S. offshore wind industry and signals the growth of the next great maritime industry throughout the country. We are committed to creating a clean energy future and fostering opportunities for all Americans."
Offshore wind substations are critical components of utility-scale offshore wind farms. Substations collect the power produced by wind turbines and connect the clean energy to the grid. The offshore substation will consist of a topside resting on a mono-pile foundation.
“The production of clean energy is at a pivotal stage in the U.S., and offshore wind, such as the South Fork Wind project, plays a very important role,” said Paul Geldmeier, who leads Kiewit’s offshore wind power work as Executive Vice President, Kiewit Energy. “We are proud to contribute our engineering and construction expertise and experience to this industry-first project.”
Kiewit expects to begin construction on the substation in November and complete the work by spring 2023, before transiting the substation across the Gulf of Mexico and up the East Coast for installation at the South Fork Wind site in the summer of 2023.
South Fork Wind continues to advance steadily through the federal permitting process, with the Bureau of Ocean Energy Management issuing the project’s final Environmental Impact Statement on August 16. South Fork Wind remains on-track to be fully permitted in early 2022, with construction activities ramping up soon after and the project producing clean energy by the end of 2023.
About Ørsted Offshore North America
The Ørsted vision is a world that runs entirely on green energy. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights’ 2021 Global 100 index of the most sustainable corporations and is recognized on the CDP Climate Change A List as a global leader on climate action.
In the United States, Ørsted operates the Block Island Wind Farm, America’s first offshore wind farm, and constructed the two-turbine Coastal Virginia Offshore Wind pilot project – the first turbines to be installed in federal waters. Ørsted has secured over 4,000 MW of additional capacity through six projects in the Northeast and Mid-Atlantic. Ørsted Offshore’s North American business is jointly headquartered in Boston, Massachusetts and Providence, Rhode Island and employs more than 150 people. To learn more visit us.orsted.com or follow us on Facebook, Instagram and Twitter (@OrstedUS).
About Eversource
Eversource (NYSE: ES) transmits and delivers electricity and natural gas and supplies water to approximately 4.3 million customers in Connecticut, Massachusetts and New Hampshire. Celebrated as a national leader for its corporate citizenship, Eversource is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2021 and recognized as one of America’s Most JUST Companies. The #1 energy efficiency provider in the nation, Eversource harnesses the commitment of approximately 9,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.
About Kiewit
Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada, and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; and mining. Kiewit had 2020 revenues of $12.5 billion and employs 27,000 staff and craft employees.
Media
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With the rise in connected devices and available data, AI vendors have emerged to help utilities find innovative ways to integrate DER
BOULDER, Colo.--(BUSINESS WIRE)--#AI--A new report from Guidehouse Insights analyzes AI capabilities for enabling distributed energy resources (DER) integration, including a discussion of key industry trends, applications, market drivers and barriers, and technology considerations. The report also provides market forecasts extending through 2030.
AI techniques have been deployed in the energy industry for a variety of grid and market operations. One of the most compelling applications of AI in the energy industry is for the integration of DER. According to a new report from Guidehouse Insights, the market for AI-enabled DER integration will experience a compound annual growth rate (CAGR) of 10% and reach $481.8 million by 2030.
“The proliferation of advanced metering infrastructure (AMI), or smart meters, the influx of data for more advanced planning and operation of the grid, and the increasing capacity of DER requiring advanced communication networks and two-way power flows are reshaping the way the distribution grid operates,” says Hannah Davis, senior research analyst with Guidehouse Insights. “AI for DER integration can drive benefits for utilities through better load and generation forecasting tools, grid optimization and network planning tools, and power quality management.”
As the number of networked sensors and demand side devices, such as smart inverters and smart thermostats, has dramatically increased, so has the amount of data that utilities receive. With technology advancements and the rapid deployment of connected devices, utilities are uncovering more innovative ways to utilize their data. Analytics vendors with software as a service (SaaS) solutions and operational technology (OT) vendors with AI modules are rapidly appearing in the market with tools to help utilities efficiently analyze their data and create actionable insights.
The report, AI for DER Integration, provides an overview of AI capabilities for enabling DER integration, including a discussion of key industry trends, applications, market drivers and barriers, and technology considerations. Additionally, the global market forecast is broken down by application segment (grid management, demand side management, and customer-centric applications) and spending segment (software, integration and upgrade services, maintenance, and SaaS). All major global regions are included, and the forecast period extends through 2030. 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, AI for DER Integration, 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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PASO ROBLES, Calif.--(BUSINESS WIRE)--Pearce Renewables, a leader in operations, maintenance, and engineering for mission-critical renewable energy infrastructure, is excited to announce the launch of its online spare parts store: Shop.Pearce-Renewables.com. This new digital experience will help clients procure wind, solar, EV, and energy storage spare parts and components for their renewable energy assets to optimize performance and continue to provide a cleaner future for our nation.
Shop.Pearce-Renewables.com is a vital service offered by Pearce Renewables for customers searching for consumables, spare parts, or key components for their renewable assets.
“Our ability to supply critical parts puts us one step closer to providing a single source, holistic approach to servicing our customers and their growing portfolio of assets,” said Zack Dorfman, SVP of Wind Services at Pearce Renewables.
“Spare parts and components are crucial to maintaining the uptime and safe operation of our nation’s renewable energy infrastructure,” said Mark McLanahan, CEO of Pearce Renewables. “As our customers continue to grow into new markets like energy storage, we are evolving our services and solutions to ensure these assets are performing optimally.”
Pearce Renewables is now offering the following:
Clients can now purchase hard-to-find spare parts with just a few clicks from any device at the office or in the field.
“Our clients are often out in the field working. They need pricing and availability fast. The process is now streamlined where they can see in real time the cost and whether an item is in stock without wasting valuable time,” said Nick Reid, Parts Sales Associate at Pearce Renewables. “We know how important it is for our clients to find the right solution, so we’re continuously adding new parts and services as they add new assets and technology to their portfolios.”
The online store makes Pearce Renewables a one-stop-shop for all renewable energy services from O&M to engineering, parts procurement, and logistics.
“Pearce Renewables can now provide critical spare parts to customers that own and operate renewable energy assets across the nation with the touch of a button,” said Steve Spethmann, VP of Supply Chain at Pearce Renewables. “We invested in an online shopping experience to further provide value to our customers.”
Questions? Need spare parts? Contact our Parts team:
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Or visit our online store Shop.Pearce-Renewables.com
About Pearce Renewables, a Division of Pearce Services:
Pearce Services is a leading national provider of operations, maintenance, and engineering services for mission-critical infrastructure. Pearce offers innovative, tech-enabled services for telecom, renewable energy, electric vehicle (EV), and energy storage system infrastructure customers safely around-the-clock. With nationwide coverage, we can deploy our highly trained technicians quickly and efficiently to provide unmatched response times, quality, and consistent service for distributed mission-critical assets. Pearce’s engineering and support teams use sophisticated software, analytics, and detailed safety plans to support our technical experts in the field. Constant innovation and close collaboration with our customers are a hallmark of our service. To learn more about Pearce Services and Pearce Renewables, visit www.pearce-services.com or www.pearce-renewables.com.
For Pearce Renewables:
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Abernathy MacGregor
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Will Lead Company’s Renewable Energy Growth Initiative
AKRON, Ohio--(BUSINESS WIRE)--$BW #RenewableEnergy--Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that Kim Bredahl will join the company as Senior Vice President, B&W Renewable, effective Sept. 1, 2021. Establishing this key leadership role further strengthens the company’s commitment to the continued growth of its renewable energy business as customers seek efficient and environmentally sustainable power generation that supports a circular economy, including B&W’s industry-leading waste-to-energy and biomass-to-energy technologies, and products for the pulp and paper industry.
“Kim has extensive global experience and insight in the waste-to-energy sector, and a strong track record in international project development,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “We’re pleased to have him on our team as the demand for our technology solutions continues to increase and as we execute our long-term plans to grow this important segment of our business.”
Bredahl has more than 30 years of experience in engineering, project management, sales, and marketing in the energy industry. Since 2019, Bredahl has served as Director and Authorised Officer, Sales, Public Relations and Marketing, for Steinmüller Babcock Environment, a global provider of waste-to-energy and power plant technology solutions. He also has served in multiple leadership and project management positions within the waste-to-energy sector, including Managing Director and Sales Director. He holds a degree in Mechanical Engineering and a degree in Business Administration from Copenhagen University.
About Babcock & Wilcox Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.
About B&W Renewable
Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable’s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the growth of its B&W Renewable business segment. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
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Media Contact:
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Public Relations
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NEW ORLEANS--(BUSINESS WIRE)--International-Matex Tank Terminals LLC (“IMTT”) is pleased to announce its next major project in the renewable fuels space. Consistent with our desire to build infrastructure to support our customers’ low-carbon fuels strategy, IMTT will build additional tanks, pipeline, and dock infrastructure at its Geismar, Louisiana marine terminal to handle renewable feedstocks and renewable products, including renewable diesel, biodiesel and other products.
Backed by a long-term contract with Renewable Energy Group, Inc. (“REG”) (NASDAQ: REGI), the project will support REG’s nearby biorefinery expansion, which is expected to be completed in 2023, bringing aggregate production capacity of finished renewable diesel products to 340 million gallons per year.
The expansion of IMTT’s Geismar terminal will include the construction of six new storage tanks to be used for the storage of biodiesel, renewable diesel, and feedstocks, nearly doubling the terminal’s current storage capacity. IMTT will also construct two pipelines and related dock and loading infrastructure to support REG’s biorefinery expansion. With the addition of this project, IMTT expects to be connected via pipeline to nearly one-third of the nation’s renewable diesel production capacity (currently under construction) as of 2023.
“We are thrilled to continue to grow our guaranteed cash flows by investing in long term relationships with market leading counterparties. Additionally, projects like this further extend our participation and know how into the growing low-carbon and alternative fuels markets. These investments are a perfect complement to our legacy business,” said Carlin Conner, IMTT Chief Executive Officer.
“We are proud to partner with IMTT in making this capacity expansion, which supports our ability to deliver lower carbon fuels to our customers in an efficient and sustainable manner,” said REG Chief Executive Officer, CJ Warner. “The launch of this project is a significant milestone for IMTT and REG as we collectively grow our renewable offerings in Geismar.”
REG’s Geismar facility was the first large-scale renewable diesel biorefinery built in the United States and was acquired by REG in 2014. REG is North America’s largest producer of biodiesel and an industry leading producer of renewable diesel. The expansion of REG’s biorefinery in Geismar is expected to be a robust driver of economic activity for Ascension Parish and the state of Louisiana, supporting over 300 new direct and indirect jobs.
About International-Matex Tank Terminals
Founded in 1939 and headquartered in New Orleans, Louisiana, International-Matex Tank Terminals LLC (“IMTT”) is an industry leader in the handling and storage of bulk liquid products through its ownership and operation of 19 terminals in the East, West, and Gulf Coasts, as well as the Great Lakes region and Canada. IMTT is focused on providing safe and reliable service while delivering innovative solutions for the evolving energy needs of its customers. In addition to expanding its independent liquid terminals business, IMTT is committed to pursuing low carbon intensity growth opportunities and reducing carbon emissions across its existing asset base. For more information about IMTT, visit imtt.com.
Jim Harris, Spokesperson
225-405-7330
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First project, launched at BHP Mitsubishi Alliance mine in Queensland, provides mining industry pathway to achieving global carbon emissions reduction goals.
BRISBANE, Australia--(BUSINESS WIRE)--Tritium, a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), and Miller Technology, a leading supplier of mobile mining equipment for safety and productivity, today announced they are providing innovative fast chargers and light duty battery EVs for the mining industry. The companies’ inaugural project at the BHP Mitsubishi Alliance (“BMA”) mine in Queensland is an important milestone, supporting the BHP Group’s commitment to reach net-zero emissions by 2050.
Tritium provided RT175-S fast chargers to BMA for the project. At 175kW of output, the RT175-S can provide 171 kilometres (106 miles) of range to an EV in as little as 10 minutes. This robust charger is liquid cooled with an enclosure that is sealed and IP65 rated, protecting the power electronics against dirt and dust on mine sites.
“As the only liquid cooled, IP65-rated EV charging technology provider, Tritium is uniquely positioned to support the mining industry’s transition to electric vehicles through innovative charging technology that is sealed to protect against sediment, dust and moisture, and rated to operate in harsh conditions,” said Tritium CEO Jane Hunter. “Tritium’s chargers have been operating in the field since 2013 across an array of conditions from the Nordics to Australia. In this industry, that’s a long history of proven track record which gave Miller Technology the confidence to choose Tritium to partner with them in this operational change in support of their goal to reduce emissions at their sites.”
Tritium made modifications to the already robust RT175-S fast charger to meet and exceed Australian mining standards. The modifications made during this project influenced the design of Tritium’s latest charging products with inclusions such as additional safety standards and filtration capabilities.
Miller Technology provided BMA with their all-new, fully electric light duty vehicle, the Relay. Capable of charging in as little as 20 minutes for a typical 10-hour mining shift, the Relay can add up to two hours of additional run time through regenerative braking technology. Miller Technology has invested over a decade of research and development into the Relay, concentrating on serviceability, modularity with rugged design and construction.
“Relay’s technology creates a game changing vehicle with its unique battery management system and cooling and temperature monitoring capabilities. As a result, the Relay is the most environmentally-friendly, safe and efficient light duty mining vehicle of its kind available today,” said Paul Summers, Miller Technology’s Lead Battery Electric Vehicle Engineer. “We’re proud to have provided BMA with the industry’s most advanced solution for sustainable mining in partnership with Tritium and its market-leading fast charging technology.”
The Relay, designed entirely in-house, can carry a two-ton payload and provides 1,550 newton-metre (“Nm”) of torque. It uses an exceptionally efficient and robustly-tested rechargeable energy storage system (“RESS”). The Relay charges through the combined charging system (“CCS”) type 2, one of the most convenient and most widely adopted charging standards.
About Tritium
Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium's compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions and is expected to occur in the fourth quarter of 2021.
For more information, visit tritiumcharging.com.
About Miller Technology
Miller Technology has designed and produced vehicles for the mining sector for over 40 years, being founded in 1979. Core business in recent decades has focussed on modifying the Toyota Land Cruiser for specific mining applications, such as underground scissor lifts, personnel carriers, ANFO Explosive Loaders, etc.
In 2011 it was realised that new technologies were needed to offer a cleaner, safer environment for mine workers and the general environment. Miller Technology started to explore these new technologies, initially pursuing Battery Electric Vehicle technology, and the subsequent 10 years of exhaustive development has culminated in the Relay BEV, along with an electric underground grader utilising the same powertrain as the Relay.
Latest technologies continue to be explored with current engagement in fully autonomous electric vehicles for mining and investigations into the development of hydrogen fuel cells as an energy source.
More information on the current vehicle range can be found at millertechnology.com.
Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
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Idemitsu Kosan Co.,Ltd., headquartered in Tokyo, established Idemitsu Americas Holdings Corporation in February of 2020, in San Jose, California. Operations began in earnest on August 23, 2021 to reinforce business controls for the various companies within the Idemitsu Group in the Americas. At the same time, efforts were made to move forward for new project networks together with other companies in the Americas.
SAN JOSE, Calif.--(BUSINESS WIRE)--Idemitsu aims to be carbon neutral by 2050 for its own Scope 1 and 2 emissions, with staged replacements for its fossil fuel and basic chemicals businesses with next-generation fuels, materials, and circular business. Plans call for a portfolio evolution by developing business with ultra-compact electric vehicles and life support, as well as an expansion into leading-edge materials that can support next-generation manufacturing.
Idemitsu Americas Holdings (IAH) Corporation is in San Jose, within Silicon Valley, where neighboring companies are world-scale innovators. In a move designed to bring Idemitsu’s plans for a future-facing portfolio evolution closer to reality, the Medium-Term Management Plan Revision announced in May calls for the conversion of oil refineries and industrial complexes into carbon-neutral transformation (CNX) centers. IAH is perfectly located to develop networks with business partners and identify potential projects.
Motohiro Suzuki, President and CEO for Idemitsu Americas Holdings Corporation said that it is critical to find potential partners when searching for innovative businesses. “Startups are a natural place to begin and by locating Idemitsu Americas Holdings Corporation in Silicon Valley, we believe that we are positioned to contribute to the realization of a sustainable society when we are able to work with leading-edge companies in the Americas known for their experience in energy and materials industries.”
Integral to its future, Idemitsu will take advantage of Idemitsu Americas Holdings Corporation’s work to create new value that will further our portfolio evolution.
Overview of Idemitsu Kosan Co.,Ltd.
Company Name |
Idemitsu Kosan Co.,Ltd. |
Location |
Tokyo |
Business Description |
Development, production and supply of fuels, basic chemicals, functional materials, renewable energy, and resources |
Year Established |
1940 (founded in 1911) |
Capitalization |
JPY 168.4 billion |
Representative |
Representative Director President and Chief Executive Officer Shunichi Kito |
Overview of Idemitsu Americas Holdings Corporation
Company Name |
Idemitsu Americas Holdings Corporation |
Location |
San Jose, California |
Business Description |
Strengthening the operations of Idemitsu Kosan, Co., Ltd., for its group companies within the Americas and developing new projects |
Year Established |
2020 |
Capitalization |
USD 1,500,000 |
Representative |
President and CEO Motohiro Suzuki |
Public Relations Section, Idemitsu Kosan Co.,Ltd.
https://www.idemitsu.com/contact/flow/index.html
Chihiro Hori (Ms.)
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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE:NGL) today announces that Linda Bridges will be promoted to Executive Vice President and Chief Financial Officer effective September 30, 2021 and will be reporting to H. Michael Krimbill, the Partnership’s Chief Executive Officer.
Ms. Bridges joined the Partnership in June 2016 as the Partnership’s Vice President of Finance and Treasurer and was promoted to Senior Vice President of Finance and Treasurer in April 2018. Prior to joining the Partnership, Ms. Bridges spent nine years in the commercial division at Bank of Oklahoma, primarily as a lender to both upstream and midstream energy clients. Linda holds a Masters of Business Administration from the University of Oklahoma and received her undergraduate degree at Washburn University.
“I am very excited to announce that Ms. Bridges will be assuming the role of Chief Financial Officer for the Partnership,” stated Mr. Krimbill. “Linda has been a tremendous asset to the Partnership since she joined us in June 2016 and was an integral part of our many financings over the past five years, including our new ABL Facility and Secured Notes. I am looking forward to working with her as she leads our finance teams and advances the Partnership through our de-leveraging process.”
Robert W. (“Trey”) Karlovich III has announced that he will be resigning from his position with the Partnership effective September 30, 2021 to pursue personal business interests.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.
This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
NGL Energy Partners LP
H. Michael Krimbill
Chief Executive Officer
918.481.1119
Or
Linda Bridges
Senior Vice President – Finance and Treasurer
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918.481.1119
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