BOSTON--(BUSINESS WIRE)--#EcoStruxure--Schneider Electric, the leader in the digital transformation of energy management and automation, received top ranking for performance in its sector by Vigeo Eiris (V.E), the principal European environmental, social and governance (ESG) rating agency and part of the Moody’s Group. Schneider has also been included among the world’s most sustainable leaders in the mid-year reviews of the FTSE4Good Index and Euronext Vigeo Eiris indices.
Earlier in the year, Schneider Electric was recognized as the world’s most sustainable corporation in 2021 by the Corporate Knights Global 100 Index.
The recent ranking by V.E and inclusion in the FTSE4Good Index are testament to the Group’s ongoing sustainability efforts which can be seen from its recent half-year progress report. Schneider is working towards establishing and advancing its 2021-2025 Schneider Sustainability Impact (SSI) targets launched in January of this year. The report highlighted some key successes for the Group such as 91% of its top 1000 suppliers joining its recently launched ‘Zero Carbon Project’ which aims to reduce their operations’ CO2 footprint by 2025. So far this year, Schneider has also helped its customers save and avoid 302 million tons of CO2 emissions since 2018 and continues to support its customers in attaining their own sustainability goals.
The V.E rating positions Schneider first in the Electronic Components & Equipment sector among the best companies in Europe with a score of 71/100 (versus a sector average of 39/100) and a five-point increase from the previous year. V.E. conducts its assessment every two years based on information covering 23 areas of interest ranging from climate change, health, safety, and environmental issues to human and labor rights. Due to this rating, Schneider has also confirmed its inclusion in the Euronext V.E indices: World 120, Europe 120, Eurozone120, and France 20 which are composed of the highest-ranking listed companies in terms of their performance in corporate responsibility.
In addition, the FTSE4Good series, which ranks the top companies twice a year in terms of ESG practices and transparency, included Schneider for the sixth year following FTSE4Good’s first half-year review in 2021. The Group scored 4.5/5, compared to a sector average of 2.1 and maintains its score compared to the previous year.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags: #LifeIsOn #Sustainability #SRI #OurImpact #EcoStruxure
Schneider Electric Media Relations – Thomas Eck, This email address is being protected from spambots. You need JavaScript enabled to view it.
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent mobility ecosystem company, today officially announced that FF Board member Brian Krolicki has been appointed as Chairman for FF’s newly formed Board of Directors. Faraday Future’s recently formed nine-member Board of Directors was appointed upon the closing of the business combination between FF and Property Solutions Acquisition Corp. (“PSAC”) on July 21, 2021.
FF is now listed on NASDAQ under the ticker symbol "FFIE." The I in "FFIE" represents Intelligent and Internet, and E represents Ecosystem and Electric. FF’s flagship electric vehicle (“EV”) – FF 91 – is planned to be launched within 12 months of the closing of the merger.
Mr. Krolicki’s leadership, along with the Board of Directors’ combined years of corporate and public experience, will help guide FF to achieve its vision of creating leading-edge products and technologies for the marketplace. Each director brings critical outside perspective, new creative ideas, and a wealth of industry knowledge to help the company achieve its mission and strategic goals.
“I’m honored that FF, along with the esteemed Board of Directors, have entrusted me to help guide FF in this exciting and pivotal period of the company,” said Mr. Krolicki. “We are all deeply involved in helping FF deliver FF 91 on time to the market next year.”
Mr. Krolicki is a veteran of the private banking industry and a master of municipal finance. He began his career on Wall Street, working with high-profile firms such as Smith Barney and Bankers Trust Company. His 24-year career in public service included four sweeping election victories to the Nevada Constitutional Offices of Lieutenant Governor and State Treasurer. While serving as Nevada’s Treasurer, Brian was elected as President of the National Association of State Treasurers (NAST) and founded the NAST Committee on Corporate Governance. He served as Chairman of the NAST Foundation, which promotes financial literacy and education throughout the nation. He also served as Vice Chairman of Nevada’s Department of Transportation (NDOT) for eight years. Brian is an independent member of the FF Board of Directors, and also serves on the Boards of Vislink Technologies, Inc. and Nevada Nanotech Systems.
FF’s Board of Directors also includes:
Dr. Carsten Breitfeld, Global CEO of FF and a world-renowned expert in electric mobility, with a PhD in mechanical engineering.
Edwin Goh, who has extensive experience in investment banking in the technology and internet industry. Mr. Goh worked for Barclays Investment Bank in Europe and Asia for over 10 years and most recently served as the Head of Asia Pacific Technology, Media and Telecommunications (TMT). Before joining Barclays, Mr. Goh worked at Goldman Sachs in London and Bain & Company in Singapore and Los Angeles.
Lee Liu, a seasoned tech and internet executive and a human resources expert. Mr. Liu served as Senior Vice President of Human Resources at Baidu Inc., and the Chairman of Baidu Cloud Business. Prior to joining Baidu, Mr. Liu served a variety of management roles in Motorola Inc. across regions and countries, including the Vice President of Global Human Resources.
Sue Swenson, who brings considerable experience leading global tech companies, including service as Chairperson and Chief Executive Officer of Inseego Corporation (formerly Novatel Wireless), President and Chief Operating Officer of T-Mobile US, Inc., President of Leap Wireless International, Inc., Chief Executive Officer of Cricket Communications, Inc., and Chief Executive Officer of Sage North America. Ms. Swenson also serves on the Boards of Sonim Technologies Inc., Vislink Technologies, Inc., and Harmonic, Inc.
Jordan Vogel, who previously served as Chairman, Co-Chief Executive Officer and Secretary of Property Solutions Acquisition Corp. Mr. Vogel has been actively investing in and managing residential real estate in New York City since 2001 and is Co-Founder and Managing Member of Benchmark Real Estate Group, LLC.
Scott Vogel serves as Managing Member of Vogel Partners, LLC, a private investment and business advisory firm. Prior to Vogel Partners, Mr. Vogel served as Managing Director at Davidson Kempner Capital Management from 2002 to 2016 investing in a diverse set of industries. Mr. Vogel also worked at MPF Investors, LLC and was an investment banker at Chase Securities, Inc. Mr. Vogel also serves on the Boards of Avaya, CBL, Alpha Metallurgical Resources and several private companies.
Matthias Aydt, who currently heads the Product Definition and Business Development group at FF.
Bob Ye, who is currently responsible for Business Development and Capital related activities for Asia and China at FF.
The FF 91 Futurist Alliance Edition and FF 91 Futurist models represent the next generation of intelligent internet electric vehicle (EV) products. They are high-performance EVs, all-ability cars, and ultimate robotic vehicles, allowing users to experience the third internet living space. The models also encompass extreme technology, an ultimate user experience and a complete ecosystem.
Both models have an industry-leading 1050 horsepower, a 130kWh battery pack with immersive liquid cooling technology, with performance of 0-60 mph in 2.4 seconds. In addition, both employ tri-motor torque vectoring and rear wheels independently driven and controlled by dual rear motors. Both models are also equipped with the industry‘s only super AP for internet connection at “light speed,” video streaming on the passenger information display, a rear intelligent internet system, an in-car video conferencing system, intelligent seamless entry, FFID face recognition, multi-touch eyes-free control, and zero gravity rear seats with the industry’s largest seating angle of 150 degrees.
All 300 of FF’s limited-edition, invite-only FF 91 Futurist Alliance Edition models (previously known as the FF 91 Alliance Edition) have been pre-ordered. Users can reserve an FF 91 Futurist model now via the FF intelligent APP or FF.com at: https://www.ff.com/us/reserve.
Download the new FF intelligent APP at: https://apps.apple.com/us/app/id1454187098?ls=1 or
https://play.google.com/store/apps/details?id=com.faradayfuture.online
ABOUT FARADAY FUTURE
Established in May 2014, FF is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, FF has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, FF was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.”, and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With its ultimate intelligent techluxury brand positioning, FF’s first flagship product, FF 91 Futurist, is equipped with top-tier product power, representing a high-performance EV, an all-ability car, and an ultimate robotic vehicle, allowing its users to experience the third internet living space.
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NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside FF’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: costs related to the recently completed business combination; FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 and proxy statement/consent solicitation statement/prospectus and other documents previously filed by Property Solutions Acquisition Corp. and filed by Faraday Future Intelligent Electric Inc. from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FF does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Leader in industrial scale woody biomass to renewable gasoline and green hydrogen projects to decarbonize transportation fuels
HOUSTON--(BUSINESS WIRE)--Arbor Renewable Gas, LLC (“Arbor Gas”) announced today its underlying capital commitment from EnCap Investments L.P. (“EnCap”), a leading provider of equity capital to the independent sector of the U.S. energy industry, and from Mercuria Energy Company, LLC (“Mercuria”), a leading global energy and commodity trading organization.
SunGas Renewables (“SunGas”), a subsidiary of GTI International (GTII), has entered into an exclusive Joint Development Agreement with Arbor Gas to provide its gasification systems to Arbor Gas projects. Haldor Topsoe, a global leader in carbon emissions reduction technologies, licensed its proprietary process and technology for methanol and gasoline synthesis.
Headquartered in Houston, Texas, Arbor Gas is developing state-of-the-art, industrial scale renewable gasoline and green hydrogen projects to accelerate the U.S. transition to low carbon fuels, helping to shape a more diverse and sustainable transportation system. Arbor Gas’ strategy is to design, build, own, and operate facilities that efficiently convert woody biomass into low carbon intensity renewable gasoline and green hydrogen.
“Our commitment to the Arbor Gas team is continuing EnCap’s tradition of investing in the right management teams to take advantage of a growing opportunity in the energy space. We believe the platform is well-positioned to play a critical role in the production of cost-effective, low carbon intensity fuels at scale and concurrently deliver compelling returns to our limited partners,” said Kyle Kafka, EnCap Partner.
“The Arbor Gas team has an extensive and proven track record developing, constructing, and operating large scale alternative energy projects. We believe this is a unique opportunity to supply renewable gasoline and associated low carbon fuels to strategic markets,” said EnCap Managing Partner Kellie Metcalf. “Arbor Gas has a scalable business that can deliver clean fuels to multiple markets, aiding the transition to a low carbon energy economy.”
“Mercuria is pleased to have the opportunity to participate alongside EnCap in backing the excellent management team of Arbor Gas for its development of a high-value, low-carbon transportation fuel infrastructure portfolio. The Arbor Gas investment furthers Mercuria’s commitment to the development of innovative projects with leading technology partners in the global transition towards sustainable energy production,” said Brian A. Falik, Mercuria Chief Investment Officer.
“The SunGas and Arbor Gas management teams have deep experience deploying technology around the world,” said Robert Rigdon, CEO of SunGas. “Our agreement with Arbor Gas provides exclusive access to our gasification technology system for production of renewable gasoline in Texas and Louisiana. We believe Arbor Gas has the right team, financing, and commercial approach to lead in the decarbonization of the transportation fuels marketplace.”
“We are proud that Arbor Gas has chosen Haldor Topsoe technology in this truly innovative project to decarbonize transportation fuels,” said Amy Hebert, CCO of Haldor Topsoe. “We are pleased to contribute with our world-leading TIGAS™ technology, which is a uniquely integrated solution, incorporating the full value chain from syngas to methanol into gasoline.”
“The Arbor Gas team has been financing, building and operating world-scale energy conversion facilities for decades, with a focus on safe and efficient operations,” said Timothy E. Vail, CEO of Arbor Gas. “Bringing proven industrial scale development leadership has been the missing component to delivering cost competitive broad scale distribution of low carbon transportation fuels. With the funding of Arbor Gas, we now have the opportunity to use these skills to advance the global fuel decarbonization effort in a meaningful way.”
The team at Arbor Gas is led by Co-Founders, Chief Executive Officer Timothy E. Vail and John G. Kennedy III, both of whom have a depth of experience in the development, financing, and operation of world-scale facilities. Mr. Vail has over 25 years of experience in alternative energy, developing technology and building plants in the fuel cell, hydrogen, and methanol businesses. Mr. Kennedy has over 25 years of energy finance expertise in dealing with energy capital markets, debt financing and structured transactions. Joined by other experienced team members, the Arbor Gas team most recently constructed and operated the world’s largest methanol plant in Beaumont, Texas, a multi-billion-dollar project that converted natural gas into commercial methanol.
About Arbor Renewable Gas, LLC
Arbor Gas’ mission is to build out a fleet of cost-effective, safe, and reliable woody biomass to renewable gasoline and renewable hydrogen plants around the world. With an initial focus on the Texas and Louisiana Gulf Coast, Arbor Gas brings a unique blend of management, financing, technology and project execution skills to successfully advance its vision of a clean, low carbon transportation fleet utilizing existing infrastructure and vehicles.
For more information, visit www.arborgas.com.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been the leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 22 institutional investment funds totaling over $38 billion and currently manages capital on behalf of more than 350 U.S. and international investors. EnCap has invested capital in more than 240 companies. For more information, visit www.encapinvestments.com.
About Mercuria Energy Company, LLC
Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world. As an integrated group, Mercuria is present all along the commodity value chain with activities forming a balanced combination of trading flows, strategic assets and structuring solutions. With more than USD 100 billion in turnover, Mercuria has become one of the most active players in the energy and renewables markets. Mercuria has committed to having fifty percent of all of its investments be for the energy transition by 2026. For more information, visit www.mercuria.com.
About SunGas Renewables
SunGas Renewables, a subsidiary of GTI International, Inc., delivers cost-effective technology solutions and energy products for companies needing to lower their carbon footprint to address ESG and regulatory goals and mandates. SunGas is driving commercialization by providing licensed technology, equipment systems, and services, as well as through selective investments in renewable energy projects utilizing its technology. www.sungasrenewables.com
About Haldor Topsoe
Haldor Topsoe is a global leader in supply of catalysts, technology, and services to the chemical and refining industries. Topsoe aims to be the global leader within carbon emission reduction technologies by 2024. By perfecting chemistry for a better world, we enable our customers to succeed in the transition towards renewable energy. Topsoe is headquartered in Denmark and serves customers around the globe. In 2020, our revenue was approximately DKK 6.2 billion, and we employ around 2,200 employees. www.topsoe.com
Heather Haley
Arbor Renewable Gas
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 346-708-7819
Market barriers include energy and workforce infrastructure constraints, as well as consumer acceptance and defining a regulatory approval process
BOULDER, Colo.--(BUSINESS WIRE)--#EA--A new report from Guidehouse Insights analyzes the global market for electric aircraft (EA) in three key segments through 2035 and provides an analysis of the market issues, opportunities, and adoption challenges associated with EA.
EA have existed in small numbers since the early 1970s, mostly as experiments. Today, they are being developed by a diverse group of manufacturers in nearly every size, from single-seat personal flight pods to 180-plus passenger aircraft designed for long-distance zero emissions flights. According to a new report from Guidehouse Insights, the electric aircraft market is anticipated to experience significant growth with revenue expected to surpass $28 billion annually by 2035.
“Factors driving the development of EA range from reductions in operating costs, CO2, and noise pollution to government regulation and social issues surrounding the current aviation fleet,” says Christian Albertson, senior research analyst with Guidehouse Insights. “Although aviation accounts for only 2%-3% of global CO2 contribution, the European Commission has set the goal of a 75% reduction in CO2 per seat kilometer and 90% reduction of nitrogen dioxide by 2050. Even with more fuel-efficient conventional engines and airframes, the aviation industry would not be able to reach these goals without electrification and operation.”
Challenges to the EA market are numerous. Issues of battery size, weight, and range are determining the designs and purpose of the aircraft, while charging infrastructure and lack thereof is determining where the aircraft can fly. Personnel who work with these aircraft require upgraded training to ensure operations and maintenance are completed safely. Governments around the world must agree on safety standards and regulations to allow these aircraft to fly the same routes that conventional powered aircraft do today.
The report, Aviation Electrification, analyzes the global market for EA in three key segments: aircraft seating up to six passengers, seven to 20 passengers, and 21 passengers and more. The study provides an analysis of the market issues, opportunities, and adoption challenges associated with EA. Global market forecasts for aircraft sales are broken out by segment and extend through 2035. The report also examines the key technologies and manufacturers related to EA, as well as the competitive landscape. 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, Aviation Electrification, 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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HOUSTON--(BUSINESS WIRE)--Centurion Pipeline L.P. today announced the release of its inaugural sustainability report, which outlines the company’s focus on environmental, social and governance (ESG) initiatives. The report is available on the company’s website at www.centurionpipeline.com.
“Our attention to ESG has long been integrated into our culture and continues to evolve and grow in importance, influencing everything we do,” said Centurion Pipeline President and CEO Mike Prince. “We continuously develop new initiatives that demonstrate Centurion Pipeline’s commitment to protecting the environment, supporting our stakeholders and exhibiting strong corporate governance that drives ethical behavior in an environment that encourages collaboration and inclusion. Our inaugural sustainability report highlights how ESG sits at the center of our culture; includes the active engagement of our board of managers, executive team and employees; and creates long-term value for all our stakeholders. We want our stakeholders to know that ESG principles are of paramount importance to us and that we are committed to seeking input, transparency and accountability in our efforts.”
While the report focuses on Centurion Pipeline’s performance and metrics during the 2020 calendar year, it also reflects Centurion Pipeline’s historical commitment to ESG principles that established the foundation on which Centurion Pipeline continues to operate. The 2020 Sustainability Report was prepared in alignment with the Energy Infrastructure Council’s EIC/GPA Midstream ESG Reporting Template and the Sustainability Accounting Standards Board (SASB) standards for Oil and Gas – Midstream.
To ensure its continued focus on ESG, Centurion Pipeline has created an ESG Steering Committee comprised of employees representing a cross section of its workforce from varying employment levels, functions and geographic locations. The mission of the ESG Steering Committee is to identify and develop ESG-related initiatives, targets and goals that are meaningful and impactful to Centurion Pipeline stakeholders, including the communities where the company works and its customers, employees, suppliers and investors. The ESG Steering Committee reports directly to an executive committee led by Centurion Pipeline’s CEO.
About Centurion Pipeline L.P.
Centurion Pipeline L.P. is a crude oil pipeline operator that owns and operates approximately 3,000 miles of pipeline extending from southeast New Mexico across the Permian Basin of West Texas to delivery points at Midland, Texas; Cushing, Oklahoma; and Crane, Texas. With a significant crude oil storage facility in Midland that has the capability to store approximately 2 million barrels of multiple qualities of crude oil, the company is well positioned to accommodate customer demand and provide connectivity to every long-haul pipeline from the Permian to the Texas Gulf Coast. Centurion Pipeline L.P. is a wholly owned subsidiary of Lotus Midstream, LLC.
Casey Nikoloric
TEN|10 Group, LLC
303.433.4397, x101 o
303.507.0510 m
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DUBLIN--(BUSINESS WIRE)--The "Maritime Transport and Marine Manufacturing in South Africa 2021" report has been added to ResearchAndMarkets.com's offering.
This report focuses on the maritime transport and marine manufacturing sector in South Africa.
It includes comprehensive information on ports and harbours, the manufacture of vessels, the size and state of the sector, port infrastructure and statistics on vessel arrivals and cargo handled.
There are profiles of 58 companies including shipbuilders such as Robertson & Caine and Southern Wind Shipyards, international companies such as MSC Mediterranean Shipping Company and BP Shipping, local merchant vessel owner Vuka Marine and bunkering services company Minerva.
Maritime Transport and Marine Manufacturing in South Africa
The sea, coastal and inland water transport system facilitates trade and plays a crucial role in the movement of passengers and goods. Before the coronavirus pandemic, around 300 million tons of seaborne cargo moved through South African ports each year.
The pandemic has brought into focus the critical role performed by the maritime transport industry in the delivery of medicine, food, fuel and other essential supplies, but has also highlighted the hardships facing thousands of crew members stranded at sea.
Developments
Ports operator Transnet National Ports Authority, a division of state-owned transport and logistics company Transnet, is to become an independent subsidiary, allowing revenues generated by the ports from lease income, marine services, cargo tariffs and other sources to be used to upgrade and expand port infrastructure and new equipment.
Significantly, it allows for greater collaboration with the private sector. The ports authority will continue to be responsible for maintaining port infrastructure and providing maritime services.
Niche Competitive Advantages
Despite stiff competition from the subsidised boat yards of South Korea, China and Japan, the quality of locally-made boats has given the country a competitive edge in some vessel categories, particularly catamarans, where South African manufacturers are among the biggest globally and where exports are significant.
South African boat yards have developed a niche advantage for custom-built boats. While competition among local boat yards is not high as companies are highly specialised, the repair market is more competitive.
Key Topics Covered:
1. Introduction
2. Description of the Industry
2.1. Industry Value Chain
2.2. Geographic Position
3. Size of the Industry
4. State of the Industry
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations
4.1.3. Enterprise Development and Socio-Economic Development
4.2. Continental
4.3. International
5. Influencing Factors
5.1. Coronavirus
5.2. Economic Environment
5.3. Input Costs
5.4. Technology, Research and Development (R&D) and Innovation
5.5. Government Interventions
5.6. Environmental Concerns
5.7. Labour
5.8. Off-Shore Oil and Gas
5.9. Piracy
6. Competition
6.1. Barriers to Entry
7. SWOT Analysis
8. Outlook
9. Industry Associations and Other Entities
10. References
10.1. Publications
10.2. Websites
Summary of Notable Players
Company Profiles - Building and Repairing of Ships and Boats
Company Profiles - Sea and Coastal Water Transport in South Africa
For more information about this report visit https://www.researchandmarkets.com/r/j4f423
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) will hold a conference call to discuss its third quarter 2021 results on Wednesday, October 27, 2021 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Tuesday, October 26, 2021. The call will be webcast live on www.nov.com/investors.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced a slew of new deals in response to the demand for renewable natural gas (RNG), a fuel produced from organic waste, as more fleets adopt and expand their use of the low-carbon transportation fuel. RNG represents more than 74 percent of the 26 million gallons of fuel Clean Energy expects to provide through these recent signed agreements. Clean Energy has a stated goal of providing 100 percent zero-carbon renewable fuel at its stations by 2025.
“Fleets that are looking to lower their emissions are switching to RNG because it can provide immediate and significant carbon reductions,” said Chad Lindholm, vice president, Clean Energy. “They’re finding that RNG is the easiest and most cost-effective way to meet sustainability goals.”
Clean Energy signed a multi-year agreement with the City of Pasadena for an anticipated 1.5 million gallons of RNG to fuel 53 vehicles, including solid waste, transit buses, dump trucks and street sweepers.
Big Blue Bus, the transit agency that services one of the most environmentally conscious cities in the county, Santa Monica, CA, has extended its RNG fueling contract with Clean Energy for five additional years for an anticipated 10 million gallons of RNG to fill its 189-bus fleet.
“Our adoption of RNG has helped cut emissions by more than 70% over the last 5 years, and aligns with our goal of transitioning to a clean energy fleet by 2030, as well as the City of Santa Monica’s plans for carbon neutrality by 2050,” said Ed King, director, Santa Monica Department of Transportation.
Gold Coast Transit, which serves Ventura County, CA has signed a multi-year fuel supply agreement with Clean Energy for an expected 4.2 million gallons of RNG to fuel 56 buses and 25 paratransit buses and vans.
Clean Energy has entered into a long-term agreement with Cedar Bus Company, of Buffalo, NY, to provide an estimated two million gallons of fuel to power 60 shuttle buses that provide paratransit and university transportation.
The City of Sacramento, County of Sacramento, and the City of Redlands have all extended their RNG supply agreements with Clean Energy for an anticipated 1.5 million gallons to fuel refuse trucks and other vehicles.
KALM Energy, based in Lincoln, NE, has contracted with Clean Energy to take over operations of its three CNG stations that fuel transit buses, refuse trucks, heavy-duty trucks and passenger vehicles with annual gallons estimated at 1 million gallons. The first site fuels the Omaha Metro Transit Agency, and two public access stations, located in Lincoln and Council Bluffs, IA, fuel natural gas fleets in the region.
Clean Energy has been contracted by the City of Fort Smith, AR, to build a $1.8 million station for the city’s sanitation department to fuel refuse trucks and provide maintenance services at the site. Clean Energy has also signed an agreement to provide $380,000 in facility modifications for the City’s sanitation maintenance facility.
“One of our goals is to improve air quality in the city and increase CNG use where deemed appropriate. The city’s transit department built its CNG fueling station in 2019. It’s time for solid waste to make the conversion,” says Kyle Foreman, director of solid waste services, Fort Smith.
The Olathe School District in Kansas has contracted with their transportation provider DS Bus Line to run 30 CNG school buses in place of 30 diesel buses for an estimated 75,000 gallons of CNG per year. DS Bus Line, the transportation operator for Olathe Schools, utilized a grant to purchase CNG school buses. The buses will be deployed and operable for the upcoming school year.
Clean Energy is facilitating station expansions for national solid waste company Republic Services in two additional California locations, allowing it to double the number of RNG-fueled trucks in Sun Valley and accommodating an additional 34 refuse trucks in Pacheco. Clean Energy currently provides RNG for Republic Services trucks in 22 states.
Adopt-A-Port
RoadEX, a large California drayage company, is adding 16 new natural gas trucks to their fleet through the Chevron and Clean Energy partnership Adopt-A-Port program. In migrating from diesel fuel to RNG, RoadEx has committed to an approximate 960,000 gallons of RNG over the contract term.
“RoadEx puts the environment first and are excited about adding the new near-zero emission CNG trucks to our fleet,” says Eric Hooper, driver and terminal relations manager, RoadEx. “Thanks to the hard work of people at the SCAQMD, Velocity Truck Centers, and Clean Energy. Our partnership with these companies and government agencies to help protect the air quality in Southern California has been and will continue to be an important part of our effort to help reduce pollution in the state of California.”
In recent detailed nine-page letter sent to Environmental Justice groups, Wayne Nastri, Executive Officer of the South Coast Air Quality Management District in Southern California, emphasized the important role RNG heavy-duty trucks can play in improving the air quality around the Ports. In the letter Mr. Nastri states, “Near-zero emission (NZE) technology has been commercially demonstrated and is available today, has sufficient fueling infrastructure that is largely funded by the private sector, and is at least 90% cleaner than new diesel trucks on NOx and 100% cleaner on cancer-causing diesel particulate matter. When fueled by renewable natural gas, these vehicles can also provide substantial greenhouse gas emission reductions. Further, these vehicles are far more cost-effective than ZE trucks (electric trucks), allowing limited incentive funds to stretch further.”
In addition to RoadEx, companies that added natural gas trucks through Adopt-A-Port in the second quarter of 2021 include Total Distribution Service, Inc., Supra National Express, JL Xpress, Inc., Pac9 Transportation, Atlas Marine, Kargo Transportation, Henean Trucking, Inc., France C. Alegre Trucking and NGL Logistics for an anticipated combined total of 1.3 million gallons of RNG.
TouchPoint
More than 50 PacLease technicians recently completed TouchPoint training on behalf of Amazon. Clean Energy’s TouchPoint training is becoming an essential customer care resource for companies adopting natural gas vehicles, including Saia LTL Freight, Kehe, TTSI, American Pacific Forwarders, Pac Anchor, STS Logistics, Pacifica, Golden State Peterbilt, and Pacific Green. Clean Energy partners with the Natural Gas Vehicle Institute (NGVi) to ensure that fleet managers, supervisors and technicians receive optimal training and support for a successful natural gas vehicle (NGV) launch.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
Forward-Looking Statements
This news release contains 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 that involve risks, uncertainties and assumptions, including without limitation statements about amounts of RNG and CNG expected to be consumed, numbers of vehicles expected to be deployed, and the benefits of RNG and CNG. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
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Investor Contact:
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its wholly owned subsidiary, Cheniere Corpus Christi Holdings, LLC ("CCH"), has priced its previously announced offering of $750 million principal amount of Senior Secured Notes due 2039 (the “CCH 2039 Notes”). The CCH 2039 Notes will bear interest at a rate of 2.742% per annum and will mature on December 31, 2039, with a weighted average life of approximately 12.5 years. The CCH 2039 Notes are priced at par and the closing of the offering is expected to occur on August 24, 2021. The CCH 2039 Notes will be fully amortizing according to a fixed sculpted amortization schedule with semi-annual payments of principal and interest.
CCH intends to use the proceeds from the offering to prepay a portion of the principal amount currently outstanding under CCH’s term loan credit facility (the “CCH Credit Facility”). The CCH 2039 Notes will be secured by a first priority security interest in substantially all of the assets of CCH and its subsidiaries and by a pledge of all of the equity interests in CCH and will rank pari passu in right of payment with all existing and future senior secured indebtedness of CCH, including borrowings under the CCH Credit Facility, its outstanding senior secured notes and its obligations under its working capital facility.
The offer of the CCH 2039 Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and the CCH 2039 Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Contacts
Investors
Randy Bhatia 713-375-5479
Media Relations
Eben Burnham-Snyder 713-375-5764
Jenna Palfrey 713-375-5491
BRISBANE, Australia--(BUSINESS WIRE)--Tritium, a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced it has signed a deal with Evie Networks to install more than 300 of Tritium’s new RTM 50kW fast chargers across Australia.
The Tritium RTM fast chargers are expected to be deployed over the next two years at 158 different destinations, with two chargers available at each site. At 50kW, the chargers can add up to 50 kilometres (31 miles) of range to an EV in 10 minutes.
“It’s fantastic to see this scale of charging infrastructure being deployed in Australia - it will help reduce range anxiety and encourage EV uptake, which is lagging behind other developed countries,” said Tritium CEO Jane Hunter. “We’re very pleased to see federal government support for the rollout of electric vehicle charging infrastructure. While the e-mobility industry does not require subsidies to support the transition from petrol cars to EVs, it benefits greatly from governments indicating their support for the change via policy statements, which enables public confidence when buying a new car.”
Evie Networks, an Australian fast charging network, was recently awarded funds from the Australian Renewable Energy Agency (“ARENA”) Future Fuels Fund. Evie Networks was announced as the top funding recipient and the only company to win financing in all eight of Australia’s states and territories. The new chargers will be partly funded by this award.
“This is a huge vote of confidence for the team,” said Evie Networks CEO Chris Mills. “This expansion across all of Australia’s capital cities will accelerate access to quality fast EV charging for more Australians. Our sites will be prepared for the future with this advanced and upgradeable technology from Tritium.”
About Tritium
Founded in 2001 by e-mobility pioneers, 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 www.tritiumcharging.com
About Evie Networks
Founded in 2017, Evie Networks is on a mission to build Australia’s largest electric vehicle fast charging network. Evie has a strong focus on building quality charging stations, located on sites that are convenient for customers and underpinned by the team’s relentless pursuit of reliability.
Evie Networks is backed by the St Baker Energy Innovation Fund’s commitment of $100 million, which is accompanied by $23.85 million grant from the Australian Renewable Energy Agency (ARENA). This makes Evie Networks the most heavily funded EV charging operator in Australia.
Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
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Tritium Media Contact
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Once complete, program will include solar equipment on 1,646 homes on post
FORT RILEY, Kan.--(BUSINESS WIRE)--#Corvias--Today, Corvias announced its latest progress in its continued commitment to assisting the Department of Defense in reaching its goal to provide 100% of the energy load required to sustain the critical mission of each U.S. military installation by the end of FY2030. Later this month, the military family housing partnership between Corvias and the U.S. Army at Fort Riley will kick off construction of phase two of its solar energy program, with Onyx Construction projected to install 385 solar systems throughout the communities on post. Adding to the solar equipment previously installed, the Ft. Riley military housing solar program will soon include a total of 1,646 homes.
“Corvias shares and supports the DoD goal of sustainability, including on-site resilient, renewable energy generation to help our partners achieve their energy security and resiliency goals as outlined by the Department of Defense,” said Peter Sims, Head of Asset Management. “The Corvias solar program also supports our company’s core value of materially improving the communities in which we serve.”
Once complete, the combined solar program from these two phases will be one of the largest solar producers in the state of Kansas. It will offset an estimated forty percent of annual electricity consumed by the on-post family housing and generate 16,000 megawatt-hours in the first year of full operation. That is enough to power 1,456 homes for one year and the equivalent of planting 6 million trees or saving 479,000 gallons of fuel.
Together with the U.S. Army and Air Force, Corvias is strengthening sustainability and resiliency with projects that create military communities that are more energy independent and reduce greenhouse gas emissions. Corvias’ portfolio-based solar program across partner military installations will play a large part in meeting the Department of Defense’s goal to strengthen energy and water resilience and reduce the risk to Army missions posed by utility disruptions affecting installations.
Across its nationwide portfolio of military housing, the Corvias solar program:
In addition to this latest solar project, Corvias recently delivered other improvements to the family housing at Ft. Riley, including 32 newly renovated homes in the Rim Rock neighborhood, $16M energy upgrade project across over 3,500 homes, and is on schedule to begin vertical construction on new homes in the Warner Peterson neighborhood.
About Corvias
As a privately-owned company headquartered in East Greenwich, RI, Corvias partners with higher education and government institutions nationwide to solve their most essential systemic problems and create long-term, sustainable value through our unique approach to partnership. Corvias pursues the kinds of partnerships that materially and sustainably improve the quality of life for the people who call our communities home, purposefully choosing to partner with organizations who share our values and whose mission is to serve as the foundational blocks, or pillars, of our nation. To learn more, please visit: www.corvias.com.
For more than 20 years, Corvias Property Management has applied its resident-first approach to provide housing operations, maintenance, and service support for military and university communities to create safe, high-quality places to live, learn, work and interact. Corvias Property Management manages 35,000 residential units, totaling approximately 50 million gross square feet of real estate across 15 U.S. states, including at 13 military installations and 15 universities. More information can be found at www.corvias.com/propertymanagement/.
About Onyx
Onyx is a vertically integrated renewable energy developer headquartered in New York City. With over 160MW of operating assets as of June 2021, Onyx is recognized as a market leader in the development, construction, financing and operation of solar energy project across the United States. Onyx was established in 2014 and is co-owned by funds managed by Blackstone and Sustainable Development Capital LLC (“SDCL”).
Founded in 1985, Blackstone is a global alternative asset manager with over $619 billion of total assets under management as of year-end 2020. Onyx is Blackstone’s 9th portfolio management team and 3rd management team focused on power. Founded in 2007, SDCL is a UK-based alternative investment firm which manages SDCL Energy Efficiency Income Trust plc (“SEEIT”), an investment company listed on the London stock exchange (LON:SEIT). SEEIT owned a diversified portfolio of investments exceeding £600 million as of February 2021.
Media:
Mary Humphreys, Corvias
(571) 309-5943
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Northern Virginia-based Technology Company Named One of the Fastest-Growing Private Companies in America
ARLINGTON, Va.--(BUSINESS WIRE)--#Innovation--Quantitative Scientific Solutions (“QS-2”), a leading provider of scientific and technical consulting and data analytics services, revealed today that for the 2nd consecutive year it has been named to the annual Inc. 5000 list, appearing at No. 1636 on the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“To be recognized by the Inc. 5000 in the current climate is a true testament to the incredible team of diverse and talented people that we have here,” said Dr. Thomas Armel, QS-2 Founding Partner and President. “QS-2 has grown into a leading science and technology consulting firm because of our team. Their dedication and talent are what makes QS-2 and our clients so successful, and we look forward to continuing to build upon that success.”
This year’s Inc. 5000 nomination comes after QS-2 recognized a 3-year growth of over 311%, and despite the challenges that 2021 has presented is already on pace to build upon this exceptional growth as the company continues to diversify and expand its clients and services.
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which will be available on newsstands on August 20.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
About Quantitative Scientific Solutions
QS-2 is a scientific and technical consulting and analytics company that provides creative solutions to help today’s organizations solve tomorrow’s most important problems. Founded in 2013 by leading technologists, QS-2 leverages deep subject matter expertise to translate cutting-edge research into real-world solutions for its partners. QS-2 is passionate about identifying the most promising directions for investment and innovation, and works side-by-side with clients to achieve their vision. For additional information about the company, please visit www.QS-2.com
More about Inc. and the Inc. 5000
Methodology
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including web sites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Vision Conference, visit http://conference.inc.com/.
Dr. Thomas Armel
703.468.1277
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded one-well contracts with Shell Namibia Upstream B.V. and Shell Sao Tome and Principe B.V. offshore Namibia and Sao Tome and Principe, respectively, for drillship, VALARIS DS-10. The precise timing of the first contract is to be confirmed, but is expected to commence in the fourth quarter of 2021. The Sao Tome and Principe contract will follow on directly from the Namibia contract. The contracts have an estimated duration of 60 days each.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
Free, Virtual Event to Examine the Trends and Regulatory Changes Impacting the Dangerous Goods Supply Chain
CHICAGO--(BUSINESS WIRE)--#DangerousGoods--Labelmaster, the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced the key session topics for its virtual 2021 Dangerous Goods Symposium, September 13 – 23. This annual event gives supply chain and business professionals the opportunity to hear from the world’s leading trainers, shippers and regulators about the latest trends, updates and best practices impacting the DG industry.
This virtual DG Symposium is part of the DG Exchange—the dangerous goods industry’s first digital community, which brings together supply chain and business professionals to share ideas, learn and collaborate in order to navigate dangerous goods issues, challenges and trends.
This year’s event will feature speakers from UPS, Boeing, the International Air Transport Association (IATA), United States Postal Inspection Services (USPIS), Pipeline and Hazardous Materials Safety Administration (PHMSA), U.S. Department of Homeland Security, and more, discussing transport regulations, lithium battery shipping, hazmat training and supply chain disruptions.
Key Session Topics:
“Shipping dangerous goods continues to become increasingly complex and high risk, and can have serious financial and operational ramifications on organizations,” said Robert Finn, vice president, Labelmaster. “The DG Symposium provides an educational forum for DG professionals and business leaders to hear about the latest industry issues and changes, and learn actionable steps they can take within their own organizations to improve regulatory compliance, operational efficiency and supply chain performance.”
Click here to register for the DG Exchange and to gain access to all DG Symposium sessions, along with everything else the community has to offer. All sessions will be recorded and available afterwards for on-demand viewing.
About Labelmaster
For more than five decades, Labelmaster has been the go-to source for companies – big and small – to navigate and comply with the complex, ever-changing regulations that govern the transport of dangerous goods and hazardous materials. From hazmat labels and UN-certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster’s comprehensive offering of industry-leading software, products, and services helps customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations. Labelmaster's dedication to supporting its customers' operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. Whether you're shipping hazardous materials by land, air, or sea, Labelmaster is your partner in keeping your business ahead of regulations and compliant every step of the way. To learn more, visit www.labelmaster.com.
Stephen Dye
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Digital commerce provider P97 Networks enables Unioil to deliver better experiences at and beyond the pump
MANILA, Philippines--(BUSINESS WIRE)--Unioil Petroleum Philippines, the most diverse and innovative petroleum company in the country is pleased to announce its selection of P97 Networks, a leader in digital commerce innovation, to enhance the Unioil Mobile App with point of sale to fuel pump integration, loyalty card integration, mobile payment integration, offers, rewards, station locator and fuel price comparison functionality.
“Our commitment to taking an innovative approach in meeting the needs of our customers has helped us revolutionize how a fuel retailer can do business with both small and large customers. Adding the P97 Digital Commerce Platform will truly enhance our consumer offering and provide more value for our customers. Pump attendants no longer need to carry the wireless EDC terminal for customers to scan for mobile payment. This is really crucial for the convenience of the customer as it cuts down the duration and extra steps when refuelling at our stations,” said Ed Pasion, Unioil VP of Retail.
Unioil offers a complete line of Euro-5 standard fuels—from gasoline variants to its diesel--all of which significantly decrease emissions up to 77 percent. This makes Unioil’s specially formulated fuels the country’s cleanest range since 2017. Filipino drivers will soon have a safe, contactless and rewarding fuelling experience by 2021 with Unioil Mobile App.
“The new Unioil mobile app on the P97 Digital Commerce Platform will help continue to provide better digital experiences for Unioil’s customers. P97 are thrilled to be a part of Unioil’s retail expansion and improving their frictionless customer experience at the pump,” said Brad Jones, Managing Director of APAC, from P97 Networks.
COVID-19 accelerated the use of payments with mobile apps, as it provides a contactless payment solution versus the use of banknotes, providing a safer experience for consumers. It is estimated that nearly 76% of purchases in 2021 will be made within a mobile app.
P97’s pioneering Digital Commerce Platform is built on Industry Standards that enable fuel retailers to connect and communicate with their consumers, and has more than 40,000 stations connected today. P97 is proud to enable an enhanced mobile app experience at all Unioil locations, to purchase fuel products and earn rewards - all with the Unioil mobile app.
In today’s current environment, offering customers a fast, safe and personalized way to shop is essential. Unioil’s commitment is leading in innovative ways to engage with their customers to provide better experiences for their consumers to find, pay and get rewarded. Learn more about the P97 solution by visiting www.p97.com.
About Unioil Petroleum Philippines, Inc.
Since 1966, Unioil has led the way in innovative petroleum solutions, establishing itself as a highly innovative business partner for specialty oils, fuels and lubricants. Unioil runs retail station operations, provides Lubricants blending and marketing along with fuels trading, specialty oils trading and Bitumen (asphalt) distribution. Learn more at https://unioil.com.
About P97 Networks
P97 Networks provides a secure, mobile commerce and behavioral marketing platform that transforms mobile commerce for the convenience retail, fuel, and vehicle manufacturing industries. P97’s platform enhances the ability to attract, engage, and retain customers by securely connecting millions of individual mobile phones and connected cars with merchants using identity, geolocation-based software that creates a unique mobile consumer experience. For more information, visit www.p97.com.
P97 Press Contacts
Ed Pasion
Unioil
Vice President for Retail
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Aaron Mireles
P97 Networks, Inc.
281-954-1706
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SAN LEANDRO, Calif.--(BUSINESS WIRE)--FreeWire Technologies (“FreeWire”), a category leader in electric vehicle (EV) charging and power solutions, today announced a new partnership with cooperative purchasing provider, Sourcewell, to more readily supply Sourcewell clients across North America with access to its best-in-class ultrafast EV charger.
Sourcewell is a self-sustaining government organization offering a cooperative purchasing program with more than 400 competitively solicited contracts to government, education, and nonprofit entities throughout North America. By utilizing Sourcewell contracts, participating agencies save time and money by capturing the buying power of more than 50,000 organizations.
FreeWire believes the transition to electrification depends on access to ultrafast charging. Receiving this Sourcewell contract as a recognized vendor for providing and installing electric vehicle (EV) charging stations enables FreeWire to streamline the process for prospective clients. FreeWire’s chargers connect easily to existing grid infrastructure, alleviating the delays and costs imposed by grid upgrades.
Districts and institutions who are Sourcewell members now have access to the FreeWire’s fully-integrated EV chargers including the Boost Charger, which have been installed at convenience stores, rest-stops, attractions and other facilities in North America and Europe. An independent report conducted by the Electric Power Research Institute found a Boost Charger can save almost $30,000 annually on operation costs, compared to a conventional DC ultrafast charger.
“FreeWire is accelerating EV adoption worldwide by making ultrafast charging convenient and affordable,” said Renee Samson, Director of Regulatory Affairs at FreeWire Technologies. “Partnering with Sourcewell as an approved EV charging provider is an important milestone in our growth. We look forward to working with Sourcewell’s robust network of schools, government agencies and non-profits as we bring EV battery integrated charging technology to more communities across North America.”
Sourcewell members in the U.S. and Canada can find more information on FreeWire chargers by searching for FreeWire on the Sourcewell website: www.sourcewell-mn.gov.
About FreeWire Technologies
FreeWire’s turnkey power solutions deliver energy whenever and wherever it’s needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure.
FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.
Learn more at www.freewiretech.com.
About Sourcewell
Sourcewell is a self-sustaining government organization, partnering with education, government, and nonprofits to empower student and community success. Throughout North America, we offer a cooperative purchasing program with more than 400 awarded suppliers on contract.
Learn more at https://www.sourcewell-mn.gov/
Cory Ziskind
ICR
646-277-1232
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SAN FRANCISCO--(BUSINESS WIRE)--#GPTWcertified--Great Place to Work® and Fortune magazine have honored Generate Capital, a leading sustainable infrastructure firm, as one of the 2021 Best Small & Medium Workplaces™. This is Generate’s first time being named to this prestigious list honoring the best companies to work for in the country.
The Best Small & Medium Workplaces award is based on analysis of survey responses from more than 280,000 current employees. In that survey, 96% of employees at Generate say it is a great place to work compared to 59% of employees at a typical U.S.-based company.
“Our North Star at Generate has always been our people,” said Generate CEO and Co-founder Scott Jacobs. “Generate was designed from day one to create solutions to the world’s most pressing problems, and our values are the organizing principles of the company. We exhibited those values this past year in the face of unprecedented social, financial and health circumstances -- our people demonstrated their uncommon commitment to each other, we continued proving that sustainability pays, and all of our stakeholders benefit.”
Generate, which builds, owns, operates and finances thousands of sustainable infrastructure projects globally, integrates its long-term sustainability mission with an equally long-term approach to people. The company is committed to building a diverse, equitable, empathetic workforce driven by a collaborative culture and core values of integrity, collaboration, excellence, intellectual honesty, and accountability. The Generate model, which marries a world class investment arm with best-in-class infrastructure operations, requires a level of trust among its employees which mirrors the trust Generate needs to establish with its many other stakeholders in order to build sustainable infrastructure. Every employee is an owner of the business, incentivized exactly as the investors in the company are, creating long-term mission and vision alignment. Generate encourages a diversity of viewpoints and a culture of transparency among employees, knowing both are necessary to make better decisions.
The award comes just weeks after Generate announced it has raised $2 billion from investors to accelerate its mission. The company has expanded rapidly over the past year, doubling staff across all business lines, opening a new global headquarters in San Francisco and expanding to new regions and business lines to meet unprecedented demand for sustainable infrastructure. At the same time, the company has focused on advancing Justice, Equity, Diversity and Inclusion (JEDI) initiatives at the company and throughout the renewables sector. The majority of Generate’s Board of Directors is comprised of women and people of color.
“I joined Generate because building and supporting the human capital within our team is just as critical to achieving our mission to rebuild the world with physical assets,” said Kristine Janhunen, chief people officer at Generate. “We’re thrilled to get this recognition that highlights the collaborative and connected community we’ve built at Generate. Sustainability, climate and finance are a complex problem set so we’ve worked to build a culture that ensures our employees feel supported, challenged, inspired and can have fun together as we work toward our shared mission. The key to our success is each other.”
The Best Small & Medium Workplaces list is highly competitive, with winners selected by Great Place to Work using rigorous analytics and confidential employee feedback. Great Place to Work is the only company culture award in America that selects winners based on how fairly employees are treated. Companies are assessed on how well they are creating a great employee experience that cuts across race, gender, age, disability status, or any aspect of who employees are or what their role is. Companies were only considered if they are a Great Place to Work-Certified™ organization.
Generate employees surveyed by Great Place to Work said their colleagues are willing to go the extra mile to get the job done and that they are proud to tell others about their workplace. Hear more of what they have to say:
“I love what I do at Generate. I’m inspired by hard-working and talented colleagues and their focus on our mission. We have a high-performing culture, where employees are motivated and trusted. We also embrace the humanity in each other with programs and benefits that are important to me, such as: professional development and coaching support, mentoring programs, family-forming and childcare benefits, and an effort to promote justice, equity, diversity, and inclusion within our company as well as in our projects and investments.”
– Peggy Flannery, Principal, Investment Team
“I joined Generate because of a strong desire to make an impact, be surrounded by extremely committed and talented people, and do work that aligns with my values. Our founders created our values before anything else, and everything from our benefits, company culture, interaction with key stakeholders and customers, and focus on diversity and inclusion embodies that vision.”
– Ebony Seymour, Sr. Manager, Talent Acquisition
“Generate is a place that uniquely balances professional aspirations with personal needs. The company knows that only by respecting you as the person you are, can you become the professional you want to be.”
– Scott Gosselink, Principal, Investment Team
“Every company has a statement of values, but Generate lives it. We think about the values every day and look for them in ourselves and others. The culture encourages collaboration and appreciation for the talents and experience of each person on the team. I have consistently felt that my input is valued, that my education and work experience are respected, and that I am appreciated not only for my work but for myself as a whole person. There is transparency around company goals and progress, and that contextualizes each person's work -- so I know how my projects fit into the larger whole.”
– Jane Squire, Paralegal
“Generate is a great place to work not just because of our business model, but because when people come here they are looking for more than a job – they are here to work with people that share their vision. When I joined the company in 2019, Generate was a much smaller enterprise, and it’s been cool to see the company maintain its flexible startup vibe and entrepreneurial approach to problem solving as we grow into our larger vision.”
– Lydia Li, Senior Associate, Investment Team
“When I decided to join the Generate team, I was drawn to the diverse mandate, the accomplished team, and the promise of impactful work aimed at solving the most critical challenges of our time. My work at Generate is varied, intellectually challenging, and impactful. I am constantly presented with opportunities to dive deeply into new sectors, to sharpen my skills and actively lead our industry toward the future. I am proud to be a part of a team that places accountability and trust at the forefront of its mission and lives it every day.”
–Marisa Sweeney, Director, Investment Team
“What I love about Generate is that I’m given agency to pursue new opportunities for the firm, and I get to work with people who share my passion – and vision – for sustainable infrastructure.”
–Matt Goodman, Senior Business Development Manager, Waste-to-Value
About Generate
Generate Capital, Inc. is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates and finances solutions for clean energy, water, waste and transportation. Founded in 2014, Generate partners with over 40 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to over 1,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.
About the Best Small & Medium Workplaces™
Great Place to Work® selected the Best Small & Medium Workplaces™ by gathering and analyzing confidential survey responses from more than 280,000 employees at Great Place to Work-Certified™ organizations. Company rankings are derived from 60 employee experience questions within the Great Place to Work Trust Index™ survey. Read the full methodology. To get on this list next year, start here.
About Great Place to Work®
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.
Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.
Media Contact
Emily Chasan
(415) 480-2914
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Presentation on Tuesday, August 17th at 3:10pm MDT / 5:10pm EDT
TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum Corporation (“Empire”) (OTCQB: EMPR), an oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico, today announced that it will be presenting at EnerCom’s The Oil & Gas Conference 2021.
Tommy Pritchard, Chief Executive Officer, and Mike Morrisett, President, will be presenting a corporate overview on Tuesday, August 17th at 3:10pm MDT / 5:10pm EDT. Investors can listen to the live webcast and download the investor slides by registering at the following URL: https://www.theoilandgasconference.com/webcast/.
A replay of the presentation and the accompanying investor slides will be available at https://www.theoilandgasconference.com/ or through the Empire Petroleum website at www.empirepetroleumcorp.com/investor-relations/events-presentations/ for six months following the presentation.
For the past 26 years, EnerCom’s The Oil & Gas Conference® regularly hosts presenting companies with operations spanning more than 40 countries and six continents. For more information about EnerCom’s The Oil and Gas Conference, please go to: https://www.theoilandgasconference.com/companies-2021/
About Empire Petroleum Corporation
Empire Petroleum Corporation is a Tulsa-based oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico. Management is focused on targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. Empire looks for assets where its operational team can deploy rigorous field/well management techniques to reduce unit operating costs and improve margins while optimizing production. For more information, please visit: www.EmpirePetroleumCorp.com
Forward Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of the federal securities laws. All statements, other than statements of historical facts that address activities, events or developments that Empire expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties. Actual results may vary materially from the forward-looking statements. For a list of certain material risks relating to Empire, see Empire’s Form 10-K for the fiscal year ended December 31, 2020.
Tommy Pritchard, CEO
Mike Morrisett, President
539-444-8002
PCG Advisory, Inc.
Jeff Ramson
(646) 863-6341
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Safety Shutoffs Will Begin Between 5 PM and 10 PM Depending on Location
Weather All Clears Anticipated for Wednesday Afternoon, Allowing Power Restoration to Begin
PG&E to Open 36 Community Resource Centers in 17 Counties to Support Customers
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) confirms that it is in the process of implementing a Public Safety Power Shutoff (PSPS) affecting about 51,000 customers in small portions of 18 counties focused in the Sierra Nevada foothills, the North Coast, the North Valley and the North Bay mountains.
The safety shutoff is due to a combination of dry offshore winds, extreme to exceptional drought conditions and extremely dry vegetation.
Since Saturday, PG&E meteorologists have been tracking the weather system, which could bring sustained winds of up to 40 mph, gusting higher in foothills and mountains. The National Weather Service has issued Fire Weather Watches in the area today through Wednesday based on forecasts for dry, northerly winds and low relative humidity. And the Northern California Geographic Area Coordination Center’s North Operations Predictive Services has issued a high-risk fire warning today through Wednesday due to “an unusually gusty early-season” wind event.
Timeline for safety shutoffs
The times below are estimates and may change (earlier or later) dependent on the dynamic weather environment. Times below as of 5 p.m. on August 17, 2021:
Time
|
De-energization
|
Counties |
||
1 |
5 p.m., Tues 8/17 |
Shasta, Tehama, Yolo |
||
2 |
6 p.m., Tues 8/17 |
Butte, Colusa, Contra Costa, Glenn, Lake, Lassen, Mendocino, Napa, Plumas, Solano, Sonoma |
||
3 |
7 p.m., Tues 8/17 |
Trinity |
||
4 |
10 p.m., Tues 8/17 |
Alameda, Sierra, Yuba |
PG&E anticipates weather “all clears” will occur Wednesday, August 18, in the afternoon with varying times depending on individual locations.
Counties and Customers Potentially Affected
County |
Customers |
Medical
|
Alameda |
18 |
0 |
Butte |
7,221 |
746 |
Colusa |
568 |
34 |
Contra Costa |
334 |
29 |
Glenn |
375 |
21 |
Lake |
4,563 |
353 |
Lassen |
58 |
1 |
Mendocino |
1,138 |
46 |
Napa |
6,849 |
277 |
Plumas |
550 |
16 |
Shasta |
15,836 |
1,361 |
Sierra |
17 |
1 |
Solano |
1,093 |
79 |
Sonoma |
1,864 |
69 |
Tehama |
9,437 |
867 |
Trinity |
61 |
0 |
Yolo |
366 |
12 |
Yuba |
432 |
45 |
*The following Tribal Communities located within these counties will be impacted by this event:
Restoration to Begin Wednesday Afternoon
PG&E will notify customers on Wednesday when the weather system has passed and will provide continuous updates on when to expect the power to turn back on.
Once conditions are clear, our electric crews will begin patrolling in the air depending on the levels of smoke impacting our visibility, in vehicles and on foot to check de-energized lines for hazards or damage to make sure it is safe to restore power. Restoration steps include:
“With these high winds and extremely dry climate conditions, we are focused on customer and community safety. It’s never an easy decision to turn off the power for safety, but it is the right thing to do to keep everyone safe,” said Marlene Santos, PG&E Executive Vice President and Chief Customer Officer. “We understand how disruptive and inconvenient it is to lose power. The sole focus of a PSPS is to keep our customers safe. As soon as this extreme weather passes, our crews will be inspecting our equipment and the vegetation around it, making repairs and restoring power as soon as it’s safe to do so. In the face of extreme and exceptional drought, we must do everything possible to protect lives, homes and businesses. We are incredibly grateful to our customers for their patience as we take the necessary steps to reduce the risk of wildfire across our service area.”
How Customers Can Prepare
Generator Safety
Backup power can be a vital part of any emergency preparedness plan in the event of a power outage. PG&E’s residential and business customers can review key considerations, safety tips, financing and retailer information by visiting pge.com/backuppower.
Community Resource Centers
PG&E will open 36 Community Resource Centers (CRCs) in 17 counties to support customers affected by this event. View the most current list of CRCs at www.pge.com/pspsupdates. CRCs will open Tuesday starting at 5 p.m. and close at 10 p.m. and then reopen at 8 a.m. and close at 10 p.m. for the remainder of the shutoff.
During a Public Safety Power Shutoff (PSPS), we open CRCs where community members can access resources, including:
To keep our customers and communities safe, all resource centers reflect appropriate COVID-19 health considerations and federal, state and county guidelines.
We are offering 16 outdoor sites to supplement the 20 indoor CRCs and provide more options for customers.
More Customer Resources Than Ever Before
We are doing more to help customers and communities before, during and after PSPS events.
To reduce the effects of PSPS events, we are listening to our customers and responding to feedback by providing more information and better resources. This year, we are:
Here’s Where to Learn More
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
Silicon Valley Deep Tech investor DCVC Leads Latest Funding Round for Methane Detection Company
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Kairos Aerospace, the leading identifier of oilfield methane leaks and emissions, today announced the closing of its $26 million Series C-1 funding round, led by DCVC. Returning investors OGCI Climate Investments, John Crane, a Smith Group company, and Energy Innovation Capital (EIC) also participated.
Using cutting-edge methane detection algorithms and proprietary sensor hardware, Kairos’ industry leading capabilities to conduct basin-wide aerial surveys identify material methane leaks of all sizes, which it pinpoints on the map with its patented fusion of infrared data, GPS and aerial photography. Kairos then provides discreet and actionable insights to its clients in the oil and gas industry so they can quickly fix the leaks.
In tandem with other operational and sustainability efforts, Kairos’ data has enabled its clients to successfully eliminate 14.4 billion cubic feet of methane emissions, equivalent to removing 1.6 million vehicles from the road or reducing 7.3 million tons of CO2 emissions.
“We are pleased with the positive impact we have had on the oil and gas industry’s emissions management strategies and outcomes thus far and look forward to further growth,” said Steve Deiker, co-founder and CEO. “We’re addressing a critical issue in the industry, and this investment allows us to continue our period of rapid growth, scaling in geography, capacity and utility for our clients.”
Methane emissions are highly skewed towards large but relatively infrequent sources that produce the lion’s share of total emissions. Large, infrequent leaks are difficult to track without surveying an entire oil basin. Kairos’ technology creates the opportunity to rapidly reduce methane emissions by enabling its customers to identify and prioritize mitigating the largest leaks.
“We cannot meet global climate goals without reducing methane emissions across our trillions of dollars’ worth of existing energy infrastructure,” said Zachary Bogue, DCVC managing partner. “Kairos provides an immediate pathway for the industry to materially reduce methane emissions and begin to meet Net Zero by 2050 targets. More progress today means more time to develop the sustainable energy infrastructure of tomorrow.”
This is a pivotal moment for Kairos’ aerial methane monitoring service because of the changing expectations on the oil and gas industry from regulators, investors, and the public. Kairos is well positioned to help industry address the increasing levels of methane regulation in the U.S. and globally, as well as the heightened scrutiny on Environmental, Social, and Governance (ESG) principles, and the focus on “clean” gas and total emissions across the supply chains of the Global 2000 companies.
In 2020, Kairos flew over 288,000 miles in two countries across eight oilfield basins, surveying 12,000 square miles of oilfields, including 96,000 active wells and 48,000 miles of pipelines. While this is a material and growing dataset, it represents only a first step in establishing a global dataset that can reduce emissions and improve the efficiency of the energy supply chain.
Kairos will use the funds to expand globally, expand its workforce and instrument fleet to support its rapidly growing operations and sales, and develop the next generation of instruments that will increase sensitivity and improve the utility of Kairos data for its customers.
About Kairos Aerospace
Kairos Aerospace provides large-scale, aerial monitoring of methane emissions to oil and gas operators across North America. Kairos’ mission is to improve operational excellence for the oil & gas industry with cost-effective, efficient methane reductions at scale. To learn more, visit kairosaerospace.com, or connect on Twitter and LinkedIn.
Elysa Nelson
Pierpont Communications
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713-627-2223
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