Business Wire News

AKRON, Ohio--(BUSINESS WIRE)--$BW--Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has entered into an agreement with Chart Industries, Inc. (NYSE: GTLS) to collaborate on the further deployment of B&W’s BrightLoopTM hydrogen generation technology, utilizing Chart’s integrated hydrogen liquefaction and cryogenic carbon capture equipment and expertise. Together, this solution provides economic generation of low-carbon hydrogen and supplies cost-effective, transportable forms of liquid hydrogen and carbon dioxide.

B&W and Chart will also work together to develop sales and marketing strategies for potential commercial hydrogen and carbon capture customers and projects.

“This collaboration agreement with Chart offers tremendous opportunity to further deploy B&W’s advanced BrightLoop technology,” said Kenneth Young, Chairman and Chief Executive Officer, B&W. “Chart is recognized as an industry leader in liquefaction of CO2 and hydrogen, and their expertise will complement B&W’s proven chemical looping technology as we work together to identify new opportunities to grow our respective businesses.”

“Low-carbon intensity hydrogen is already playing a key role in the global effort to reduce emissions and combat climate change,” Young said. “We’re excited to use our technologies and expertise to help customers across the power and industrial markets achieve their greenhouse gas and emissions reduction targets.”

"We are excited to partner with B&W to accelerate further progress in the growing hydrogen economy, in particular, for bringing more efficient and scalable solutions,” said Jill Evanko, Chart’s CEO and President. “The combination of our respective companies’ hydrogen, CO2 and chemical technology expertise is expected to bring more innovative and cost-effective offerings to customers looking to low-carbon intensity hydrogen to help achieve their carbon emission reduction goals.”

B&W's flexible BrightLoop technology – part of its ClimateBright™ suite of decarbonization and hydrogen technologies – is applicable to a wide range of feedstock, product outputs and applications for industries and utilities. The BrightLoop system is scalable and can convert a wide range of fuels, including natural gas, coal, petroleum coke (petcoke), methane, biomass, biogas, and other industrial process off-gases and materials into hydrogen, syngas and steam for power, process and heating while also isolating CO2 for storage or use.

Chart’s state-of-the-art, efficient hydrogen liquefaction process technology and equipment solutions allow for produced hydrogen gas to be more effectively stored and transported much longer distances as a dense liquid, using Chart storage tanks, trailers, ISO containers, and rail cars. Chart’s Sustainable Energy Solutions (SES) cryogenic carbon capture (CCC) technology removes CO2 from flue gas and supplies liquid CO2 ready for transport via trailer or pipeline to storage or utilization. The refrigeration for both hydrogen liquefaction and CCC can be combined to decrease capital and operating costs.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.

About Chart Industries, Inc.

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets. The company’s unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an agreement to collaborate with Chart Industries, Inc. on the further deployment of B&W’s BrightLoop hydrogen generation technology, utilizing Chart’s integrated hydrogen liquefaction and cryogenic carbon capture equipment and expertise. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.


Contacts

Investor Contact:
Investor Relations
Babcock & Wilcox
704.625.4944
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
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NEW ORLEANS--(BUSINESS WIRE)--Today at the International WorkBoat Show, Peer Software announced an alliance partnership with SSI, a globally recognized software solutions company for the design, engineering, construction, and maintenance of shipbuilding projects. Peer Software’s distributed file services platform, PeerGFS, helps expand the performance and reach of SSI’s solutions across geographically dispersed project teams. Together, this strategy reduces the impact of WAN speed and latency issues and allows shipyards to perform a wide range of selected tasks with substantially improved performance and data availability.


“Relationships with leading technology providers are central to our solutions and open architecture, which is reflected in our SSI Developer Network program,” said Denis Morais, co-CEO, SSI. “With Peer’s distributed file services platform working in concert with solutions like SSI WorkShare Teams, clients can benefit from fast access to shared project files, high availability, and redundancy of data across synchronized on-premises and cloud storage systems. This enables them to focus on shipbuilding and completing projects in less time.”

The connected world of shipbuilding means shipyards can complete complex projects more efficiently by accessing best-of-breed design, engineering, and manufacturing talent throughout the world. Additionally, complex deliverables require a clear view of the project, and the ability to collaborate on information wherever project teams are located.

“Peer Software has been dedicated to creating enterprise-class solutions that help meet the challenges of business requirements for always-on, always-available data infrastructure for nearly three decades,” stated Jimmy Tam, CEO, Peer Software. “Together with SSI, we enable engineering teams to collaborate more freely with each other and securely connect departments, tools, and partner organizations to further leverage the potential of a global shipbuilding industry.”

With Peer Software’s global file services platform and SSI’s WorkShare Teams multi-site solution, operations such as generating reports, creating BOMs, compiling production drawings, importing external references or x-refs, loading revisions, exporting to third-party systems, data-mining, and similar operations can be performed faster and more confidently.

For example, a major North American shipyard is utilizing SSI’s distributed teams’ workflow and PeerGFS for design file replication and version conflict prevention to prevent simultaneous work on replicated drawings. The solution is deployed on a hybrid on-premises and Azure Cloud architecture where the combination of multi-site file replication and virtualization empowers the shipyard to easily adjust its infrastructure to match changing project demands, needs, and business goals.

Learn more about the SSI and Peer Software Partnership.

About PeerGFS

PeerGFS enables enterprises to create a modern distributed file system that seamlessly integrates existing storage platforms across multi-site, on-premises and cloud storage. Using an Active-Active data services fabric, PeerGFS facilitates fast local access to user and application data, high availability, and redundancy of data across synchronized storage systems for continuous data protection (CDP). Peer Software also provides rich, deep analysis of file system characteristics and activity loads to intelligently manage the explosive growth of unstructured data and proactively plan for future requirements.

Learn more about PeerGFS.

About Peer Software

Peer Software’s mission is to simplify file management and orchestration for enterprise organizations. IT administrators constantly face the unenviable task of trying to architect, build and operate resilient, highly available 24/7 global operations while simultaneously striving to add flexibility and agility in their technology choices to quickly adapt to ever evolving business and technical demands. Through its global file service, storage observability and analytics solutions, Peer helps enterprises meet these challenges across edge, data center, and cloud environments.

Follow Peer Software on Twitter and LinkedIn.

About SSI

SSI makes it easy to solve the shipbuilding industry’s unique challenges by empowering shipbuilders to focus on the business of shipbuilding. We realize the rapidly evolving technologies that define the future of the industry and understand how to implement them specifically for shipbuilders. For over 30 years, our team has been globally recognized for our specific solutions for the design, engineering, construction, and maintenance of shipbuilding projects.


Contacts

Media:
A3 Communications
Kim Pegnato
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NuScale and industry participants will assess new concepts for use in small modular reactor power plants

PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power, LLC (NuScale) along with Shell Global Solutions (Shell) and industry participants will develop and assess a concept for an economically optimized Integrated Energy System (IES) for hydrogen production using electricity and process heat from a NuScale VOYGR™ small modular reactor (SMR) power plant. The project entitled, “Development and Demonstration of a Concept for an Economically Optimized IES,” will be completed in two phases. Additional research participants include Idaho National Laboratory, Utah Associated Municipal Power Systems (UAMPS), Fuel Cell Energy, FPoliSolutions, and GSE Solutions.


NuScale’s flexible SMR technology holds the potential to balance and stabilize power grids dominated by renewable energies through hydrogen production. Energy markets present reliability concerns at times when energy demand is high and renewable energy production is low. In these markets, hydrogen would be used as an end-product or as a stored energy source to be processed through a Reversible Solid Oxide Fuel Cell (RSOFC) for electricity generation.

Hydrogen has been identified as a pathway for global decarbonization and NuScale’s SMR technology complements this goal through low carbon hydrogen production,” said John Hopkins, NuScale Power President and Chief Executive Officer.

A NuScale control room simulator will be modified to evaluate the dynamics of the IES and will include models for the Solid Oxide Electrolysis Cell (SOEC) system for hydrogen production, in addition to a RSOFC for electricity production. The research will consider the number of NuScale Power Modules™ needed for use in SOEC hydrogen production and the quantity of hydrogen stored for subsequent electricity production. Further, local economic factors from the UAMPS Carbon Free Power Project will be assessed, such as the impact in the Western Energy Imbalance Market, resource adequacy programs, and other local market factors to be defined.

We are pleased to join this collaboration, which is in line with our efforts to explore technologies that have the potential to enable decarbonization and support the energy transition,” said Dirk Smit, Vice President of Research Strategy at Shell.

About NuScale Power

NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.

Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.

Forward Looking Statements

This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.


Contacts

Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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(C) (503) 270-9329

VALLEY FORGE, Pa.--(BUSINESS WIRE)--#BobBeard--UGI Corporation (NYSE: UGI) announced today that Robert F. Beard has been appointed Chief Operations Officer (COO) reporting to UGI’s President and Chief Executive Officer, Roger Perreault, effective immediately.



“Bob has a long history of success at UGI and deep institutional knowledge of our Company,” said Perreault. “He understands our vision and, as part of our Executive Leadership Team, has been instrumental in shaping our strategic priorities. The appointment of Bob as COO is an important next step in our evolution toward a “one company” approach that will help us better serve customers, drive operational excellence, and create more opportunities for employees. By consolidating both lines of business – Natural Gas and Global LPG – under the leadership of Bob, we will have a more streamlined structure and can better capture synergies across our portfolio.”

In his new role, Beard will be responsible for oversight of UGI’s Global LPG line of business in addition to the Natural Gas line of business, which he led previously. He will be accountable for ensuring the execution of strategy, delivering safe and reliable service, and driving continuous improvement of the customer experience across each of the Company’s business units. Beard will retain responsibility for Global Engineering & Construction and Procurement and will continue to serve on the Company’s executive leadership team. Previously, Mr. Beard was Executive Vice President, Natural Gas, Global Engineering & Construction and Procurement of UGI Corporation, Chief Executive Officer of UGI Utilities, Inc., and Chief Executive Officer of Mountaineer Gas Company.

“The executive leadership team and I will work together on continuing to elevate operational excellence throughout the Company,” continued Perreault. “This new role will provide a clearer line of sight into how each of our business units is progressing against our strategic plan and financial commitments. Our entire team can also focus more time driving the vision and strategy of UGI, making strategic investments in support of our overall business, building a high performing and engaged culture, and driving shareholder value in the rapidly changing energy sector. We are now more effectively positioned to drive UGI forward and to continue executing on our ‘three R’ strategy to deliver Reliable earnings growth, invest in Renewables, and Rebalance our portfolio, which we are confident will drive long-term value for our shareholders.”

About UGI Corporation

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States and California and internationally in France, Belgium, and the Netherlands.

Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.


Contacts

Investor Relations
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498

Media Relations
973-765-7393
Robert Ferris

This project breathes new life into land that is no longer viable for agriculture while providing alternate sources of income to rural landowners within Enviva’s operating footprint

BETHESDA, Md. & THE PLAINS, Va.--(BUSINESS WIRE)--#Afforestation--Enviva (NYSE: EVA), the world’s leading producer of sustainably sourced woody biomass, and GreenTrees, the market leader in reforestation and carbon removal in the U.S., today announced a nine-year partnership agreement that will contribute towards Enviva’s net-zero goals for its Scope 1 carbon footprint, equating to approximately 10,000 metric tons of carbon removal credits annually, or 90,000 metric tons throughout the duration of the contract.


“We are excited to partner with GreenTrees to help minimize our net carbon emissions and implement local solutions to meet net-zero goals,” said Thomas Meth, President and CEO of Enviva. “As part of the forest products industry, it is important that we utilize a forest-based offset. While Enviva’s long-term focus is to reduce our Scope 1 emissions through energy-efficient projects and substitution of fossil fuels, this partnership will help reduce our net emissions in the short term and positively impact the health of the forests in Enviva’s operating footprint.”

The GreenTrees afforestation project with Enviva will take place in the rural U.S. Southeast, on land formerly used for agriculture but has been deemed no longer suitable for farming and crop growth due to soil erosion and water damage. The afforestation of this land will not compete with lands used for agricultural and food sources, but will revitalize the land and serve as permanent carbon removal. This partnership will also provide a new source of income for rural landowners in the GreenTrees program who are no longer able to use the land for agriculture.

“It’s an honor to partner with Enviva and work alongside a company on their path to net zero,” said Chandler Van Voorhis, co-founder and managing partner of GreenTrees. “We are equally thrilled that in addition to the environmental impact of reducing carbon emissions and restoring previously overworked land to its natural beauty, the landowners GreenTrees partners with will now have another sustainable source of income for their property.”

The path to achieving a net-zero future requires many tools, including third-party verified investments in reforestation and land equity. This partnership contributes to Enviva's net-zero greenhouse gas emissions commitment and represents a ∼14% reduction of Enviva's 2021 Scope 1 footprint. Likewise, GreenTrees’ nature-based carbon removal credits align well with Enviva’s strict sustainability standards. Enviva is focused on high-quality carbon credit projects that promote afforestation and reforestation in the company’s region of operations, as well as projects that remove carbon from the atmosphere and enhance local carbon stocks.

All carbon credits in GreenTrees’ projects undergo a rigorous verification process by the American Carbon Registry. GreenTrees’ verified carbon credits are widely accepted today by major environmental markets, and Fortune 500 companies trust them to meet sustainability goals and mitigate climate change. In winter 2022/2023, GreenTrees’ credits will be the first reforestation credits to be auctioned by the Intercontinental Exchange (ICE).

About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva is planning to commence construction of its 12th plant, near Bond, Mississippi, in early 2023. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.

To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.

About GreenTrees
GreenTrees is the market leader in reforestation and carbon removal in the U.S. A model land equity program for landowners, GreenTrees generates the largest number of forestry carbon removal credits in the U.S. The only carbon removal program open to both small and large landowners, GreenTrees engages individual landowners to plant forests, measure the growth annually and convert the annual growth into carbon credits. All carbon credits in GreenTrees’ projects undergo a rigorous verification process by the American Carbon Registry and are accepted by global environmental markets as the highest standard for quality in nature-based carbon removals. Wholly owned by ACRE Investment Management, LLC, GreenTrees has engaged 600+ landowners ranging from 10 to 3,500+ acres and planted 130,000+ acres of forests that have removed more than six million metric tons of carbon from the Earth’s atmosphere; these existing planted acres will remove a projected 30 million metric tons over the next 40 years; additional plantings will grow carbon removal capacity significantly as GreenTrees’ parent company’s affiliate platform company, ACRE IO, will accelerate planting velocity for GreenTrees and other independent projects. Fortune 500 companies trust GreenTrees’ carbon credits to meet sustainability goals and combat climate change. For more information about GreenTrees, visit https://www.green-trees.com/.


Contacts

Jacob Westfall
Phone: 240-856-0324
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Elizabeth Buccianti
Gabriel Marketing Group (for GreenTrees)
Phone: 407-463-8865
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the launch of six EV Centers in support of its global distribution system expansion in Spain, Italy, Poland, Turkey, Morocco, and the Dominican Republic.


Building on its first EV Center in Dusseldorf, Germany, Cenntro’s new EV Centers are hubs for the Company’s distribution network which will support sales, deliveries, and aftermarket sales. The EV Centers will also provide marketing, technical, logistical, and after-market support for Cenntro’s regional dealers, strategic partners and customers. The Company’s distribution and service infrastructure includes a cloud-based parts distribution system for large scale deployment of its commercial electric vehicles.

“We have been highly focused on setting up our global distribution system, and these centers will improve sales, delivery and service and will add capacity for scale, stability, and reduced logistics costs,” said Peter Wang, Chairman and CEO. “In order to support both demand and large-scale deployment, it is imperative that Cenntro has a dedicated global distribution and service infrastructure in place as we expand sales in new regional markets. We are leveraging advanced cloud-based distribution technologies to move parts through our centers efficiently and accurately to better serve our global customers. As we project our regional growth, we believe our EV Centers will be key to ensuring our customers have minimum down-time and will serve as a critical KPI for our business customers.”

About Cenntro Electric Group

Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric light and medium-duty commercial vehicles. Cenntro's purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which may be viewed at www.sec.gov.


Contacts

Investor Relations Contact:

Chris Tyson
MZ North America
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949-491-8235

Company Contact:

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Files Class VI Permit Application Related to Carbon Sequestration Project

DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX) (“REX” or “the Company”) today reported financial results for its fiscal 2022 third quarter (“Q3 ‘22”) ended October 31, 2022. REX management will host a conference call and webcast today at 11:00 a.m. ET.


Conference Call:

212/231-2910

Webcast / Replay URL:

www.rexamerican.com

 

The webcast will be available for replay for 30 days.

REX American Resources’ Q3 ‘22 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates. The Company reports results for its ethanol and by-products component as continuing operations and beginning in the third quarter of fiscal 2021 its refined coal component as discontinued operations as operations have now ceased.

REX’s Q3 ‘22 net sales and revenue were $220.3 million, compared with $203.1 million in Q3 ‘21. The year-over-year net sales and revenue increase primarily reflects higher pricing for ethanol, dried distillers grains, non-food grade corn oil and modified distillers grains. Q3 ‘22 gross profit for the Company’s continuing operations decreased to $11.3 million, compared with $25.2 million in Q3 ‘21 as the higher net sales and revenue were offset by significant increases in corn and natural gas prices. This led to Q3 ‘22 income before income taxes and non-controlling interests of $6.1 million, compared with $19.2 million in the comparable year ago period.

Net income attributable to REX shareholders from continuing operations in Q3 ‘22 was $3.2 million, compared to $13.3 million in Q3 ‘21. Q3 ‘22 basic and diluted net income per share attributable to REX common shareholders from continuing operations was $0.18, compared to $0.74 per share in Q3 ‘21. Per share results for Q3 ‘22 and Q3 ‘21 are based on 17,591,000 and 17,890,000 diluted weighted average shares outstanding, respectively, reflecting the Company’s 3-for-1 common stock split effected August 5, 2022.

REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “The third quarter marked a difficult operating environment as we faced significant price increases in our two largest inputs – corn and natural gas – as well as ongoing logistical constraints. Despite these challenges, we were able to post our ninth consecutive quarter of positive income along with income per share for the first nine months of fiscal 2022 of $1.10. We have maintained our robust balance sheet and liquidity position which at quarter end included approximately $290 million in cash and short-term investments and no debt. We remain confident our strong capital structure positions REX to continue to benefit our shareholders and support our ethanol businesses while strategically investing in initiatives that can yield attractive returns for our employees, partners and shareholders.

“In this regard, our team remains very excited about our carbon capture and sequestration project and is making meaningful progress on this front. We filed a Class VI injection well permit application for three wells to allow us to inject carbon dioxide into deep rock formations and recently signed a contract for a carbon compression facility for our One Earth Energy ethanol plant. The language and opportunities in the Inflation Reduction Act are encouraging, including the new clean fuel production credit under section 45Z and an increase in the 45Q credit to $85 per ton. We believe this can bring significant financial benefits to our carbon capture and sequestration initiatives and to the ethanol industry as a whole.”

Balance Sheet

As of October 31, 2022, REX had cash and cash equivalents and short-term investments of $289.8 million, $30.5 million of which was at the parent company, and $259.3 million of which was at its consolidated production facilities. This compares with cash, cash equivalents and short-term investments at January 31, 2022, of $255.7 million, $42.9 million of which was at the parent company, and $212.8 million of which was at its consolidated ethanol production facilities.

During the fiscal third quarter ended October 31, 2022, the Company repurchased 249,570 shares of its common stock at a cost of approximately $6.8 million. The Company is currently authorized to repurchase up to an additional 876,786 shares of common stock and has approximately 17,390,469 shares of common stock outstanding.

The following table summarizes select data related to REX’s consolidated alternative energy interests:

  Three Months Ended   Nine Months Ended
  October 31, October 31,
 

2022

2021

2022

2021

Average selling price per gallon of ethanol

 $

         2.49

 $

         2.31

 $

         2.48

 $

         2.12

Average selling price per ton of dried distillers grains

 $

     230.29

 $

     184.85

 $

     232.51

 $

     200.02

Average selling price per pound of non-food grade corn oil

 $

         0.74

 $

         0.59

 $

         0.70

 $

         0.47

Average selling price per ton of modified distillers grains

 $

     116.49

 $

       92.10

 $

     120.23

 $

       83.97

Average cost per bushel of grain

 $

         7.52

 $

         6.45

 $

         7.28

 $

         6.05

Average cost of natural gas (per MmBtu)

 $

         7.15

 $

         4.58

 

 $

         6.69

 $

         3.69

Third Quarter Conference Call
REX will host a conference call at 11:00 a.m. ET today to discuss the quarterly results and will host a question and answer session. The dial in number for the audio conference call is 212/231-2910 (domestic and international callers). Participants can also listen to a live webcast of the call on the Company’s website at, www.rexamerican.com. A webcast replay will be available for 30 days following the live event.

About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 699 million gallons of ethanol over the twelve-month period ended October 31, 2022. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended October 31, 2022) by the ethanol production facilities in which it has ownership interests was approximately 277 million gallons. Further information about REX is available at www.rexamerican.com.

This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate” or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company’s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, non-food grade corn oil, commodity market risk, gasoline and natural gas, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, changes in the international, national or regional economies, the impact of inflation, the ability to attract employees, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.

 

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
Consolidated Statements of Operations
(in thousands, except per share amounts)
Unaudited

Three Months Ended Nine Months Ended
October 31, October 31,

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net sales and revenue

 $

  220,277

 

 $

  203,066

 

 $

  654,833

 

 $

  562,786

 

Cost of sales

 

     208,941

 

 

     177,914

 

 

     615,001

 

 

     504,003

 

Gross profit

 

       11,336

 

 

       25,152

 

 

       39,832

 

 

       58,783

 

Selling, general and administrative expenses

 

       (7,886

)

 

       (6,310

)

 

     (22,237

)

 

     (22,444

)

Equity in income of unconsolidated ethanol affiliates

 

            661

 

 

            349

 

 

         6,210

 

 

         2,763

 

Interest and other income, net

 

         1,983

 

 

              35

 

 

       10,338

 

 

            117

 

Income before income taxes and noncontrolling interests

 

         6,094

 

 

       19,226

 

 

       34,143

 

 

       39,219

 

Provision for income taxes

 

       (1,196

)

 

       (4,338

)

 

       (7,374

)

 

       (8,329

)

Net income from continuing operations

 

         4,898

 

 

       14,888

 

 

       26,769

 

 

       30,890

 

Net income attributable to noncontrolling interests (continuing operations)

 

       (1,714

)

 

       (1,562

)

 

       (7,233

)

 

       (4,585

)

Net income attributable to REX common shareholders (continuing operations)

 

         3,184

 

 

       13,326

 

 

       19,536

 

 

       26,305

 

 
Net income from discontinued operations, net of tax

 

               -

 

 

         1,815

 

 

               -

 

 

         4,263

 

Net loss attributable to noncontrolling interests (discontinued operations)

 

               -

 

 

            137

 

 

               -

 

 

            370

 

Net income attributable to REX common shareholders (discontinued operations)

 

               -

 

 

         1,952

 

 

               -

 

 

         4,633

 

 
Net income attributable to REX common shareholders

 $

      3,184

 

 $

    15,278

 

 $

    19,536

 

 $

    30,938

 

 
Weighted average shares outstanding - basic and diluted

 

       17,591

 

 

       17,890

 

 

       17,714

 

 

       17,983

 

 
Basic and diluted net income per share from continuing operations attributable to REX common shareholders

 $

        0.18

 

 $

        0.74

 

 $

        1.10

 

 $

        1.46

 

Basic and diluted net income per share from discontinued operations attributable to REX common shareholders

 

               -

 

 

           0.11

 

 

               -

 

 

           0.26

 

Basic and diluted net income per share attributable to REX common shareholders

 $

        0.18

 

 $

        0.85

 

 $

        1.10

 

 $

        1.72

 

 

- balance sheets follow -

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands)
Unaudited

October 31, January 31,
ASSETS:

 

2022

 

 

2022

 

CURRENT ASSETS:
Cash and cash equivalents

 $

      135,986

 

 $

      229,846

 

Short-term investments

 

         153,819

 

 

           25,877

 

Restricted cash

 

             1,308

 

 

             2,222

 

Accounts receivable

 

           22,675

 

 

           25,821

 

Inventory

 

           42,045

 

 

           42,225

 

Refundable income taxes

 

             6,611

 

 

             6,677

 

Prepaid expenses and other

 

           11,576

 

 

           12,499

 

Total current assets

 

         374,020

 

 

         345,167

 

Property and equipment, net

 

         131,235

 

 

         137,554

 

Operating lease right-of-use assets

 

           14,748

 

 

           11,221

 

Deferred taxes and other assets

 

           21,267

 

 

           25,853

 

Equity method investment

 

           33,769

 

 

           30,566

 

TOTAL ASSETS

 $

      575,039

 

 $

      550,361

 

LIABILITIES AND EQUITY:
CURRENT LIABILITIES:
Accounts payable - trade

 $

        40,271

 

 $

        32,266

 

Current operating lease liabilities

 

             4,902

 

 

             4,600

 

Accrued expenses and other current liabilities

 

           12,109

 

 

           13,617

 

Total current liabilities

 

           57,282

 

 

           50,483

 

LONG-TERM LIABILITIES:
Deferred taxes

 

             3,132

 

 

             3,132

 

Long-term  operating lease liabilities

 

             9,883

 

 

             6,390

 

Other long-term liabilities

 

             2,997

 

 

             2,794

 

Total long-term liabilities

 

           16,012

 

 

           12,316

 

EQUITY:
REX shareholders' equity:
Common stock

 

                299

 

 

                299

 

Paid-in capital

 

                278

 

 

                   -

 

Retained earnings

 

         632,665

 

 

         611,607

 

Treasury stock

 

        (193,770

)

 

        (181,114

)

Total REX shareholders' equity

 

         439,472

 

 

         430,792

 

Noncontrolling interests

 

           62,273

 

 

           56,770

 

Total equity

 

         501,745

 

 

         487,562

 

TOTAL LIABILITIES AND EQUITY

 $

      575,039

 

 $

      550,361

 

 - statements of cash flows follow -

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(in thousands)
Unaudited

Nine Months Ended
October 31,

 

2022

 

 

2021

 

CASH FLOWS FROM OPERATING ACTIVITIES
Net income including noncontrolling interests

 $

   26,769

 

 $

   35,153

 

Net income from discontinued operations, net of tax

 

             -

 

 

        4,263

 

Net income from continuing operations

 

      26,769

 

 

      30,890

 

Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation

 

      13,503

 

 

      13,505

 

Amortization of operating lease right-of-use assets

 

        4,105

 

 

        4,128

 

Income from equity method investments

 

      (6,210

)

 

      (2,763

)

Dividends received from equity method investments

 

        3,007

 

 

        1,504

 

Interest income from investments

 

      (1,098

)

 

           (36

)

Deferred income taxes

 

        4,964

 

 

        5,840

 

Stock based compensation expense

 

        1,295

 

 

        1,100

 

Gain on sale of property and equipment - net

 

           (91

)

 

             (1

)

Changes in assets and liabilities:
Accounts receivable

 

        3,146

 

 

    (20,313

)

Inventories

 

           180

 

 

        7,673

 

Refundable income taxes

 

             66

 

 

         (332

)

Other assets

 

           649

 

 

        1,912

 

Accounts payable - trade

 

        7,990

 

 

      10,916

 

Other liabilities

 

      (4,281

)

 

        2,776

 

Net cash provided by operating activities from continuing operations

 

      53,994

 

 

      56,799

 

Net cash used in operating activities from discontinued operations

 

             -

 

 

      (6,368

)

Net cash provided by operating activities

 

      53,994

 

 

      50,431

 

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures

 

      (7,182

)

 

      (4,245

)

Purchase of short-term investments

 

  (307,371

)

 

    (67,412

)

Sale of short-term investments

 

    180,527

 

 

      82,022

 

Other

 

             -

 

 

             40

 

Net cash (used in) provided by investing activities

 

  (134,026

)

 

      10,405

 

CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock acquired

 

    (13,012

)

 

      (6,627

)

Payments to noncontrolling interests holders

 

      (1,730

)

 

      (1,515

)

Net cash used in financing activities from continuing operations

 

    (14,742

)

 

      (8,142

)

Net cash provided by financing activities from discontinued operations

 

             -

 

 

           280

 

Net cash used in financing activities

 

    (14,742

)

 

      (7,862

)

NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

 

    (94,774

)

 

      52,974

 

CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period

 

    232,068

 

 

    146,158

 

CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period

 $

137,294

 

 $

199,132

 

 
Non-cash financing activities - Stock awards accrued

 $

        679

 

 $

        972

 

Non-cash financing activities - Stock awards issued

 $

     1,539

 

 $

        100

 

Non-cash investing activities - Accrued capital expenditures

 $

          93

 

 $

          34

 

Right-of-use assets acquired and liabilities incurred upon lease execution

 $

     7,632

 

 $

     3,267

 

 


Contacts

Douglas Bruggeman
Chief Financial Officer
(937) 276‑3931

Joseph Jaffoni, Norberto Aja
JCIR
(212) 835-8500 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Collaboration with KOHYGEN will help decarbonize transportation industry while expanding global hydrogen refueling infrastructure

SEOUL, South Korea--(BUSINESS WIRE)--Korea Hydrogen Green Energy Network (KOHYGEN) has chosen global technology company Emerson’s (NYSE: EMR) advanced automation solutions to help ensure the safety and reliability of its pioneering hydrogen infrastructure initiative, which recently marked the completion of the world’s largest hydrogen refueling station for commercial vehicles. The project is an important step toward the two organizations’ goals of reducing emissions, driving investment in hydrogen and accelerating the transition to a net-zero global economy.


“We’re committed to building smart, safe hydrogen refueling infrastructure by leveraging IT-based integrated operations, using large capacity, high-efficiency charging systems and, most importantly, strengthening design safety standards,” said KyungSil Lee, KOHYGEN’s chief executive officer. “Emerson is helping us secure abundant clean energy for Korea and the world.”

The JeonjuPyeonghwa Hydrogen Refueling Station is the first of 35 high-capacity gas and liquid hydrogen refueling stations KOHYGEN plans to construct across Korea by 2025. The first station has a charging capacity of 300 kilograms per hour, which can fuel up to 15 buses and trucks per hour, or over 100 per day – 12 times more than an average capacity hydrogen station.

To further lay the foundation for a stable hydrogen supply chain, Emerson and KOHYGEN are collaborating on technical standards for future high-capacity commercial refueling stations and similar projects. KOHYGEN plans to expand its hydrogen supply platform to service hydrogen-powered aircraft, ships and other diverse forms of transportation.

“In line with Emerson’s ‘Greening By’ sustainability strategy, we’ve worked on a range of hydrogen projects globally, applying our expertise and innovative technologies to scale hydrogen consumption and make renewable energy a reality,” said Mike Train, Emerson’s chief sustainability officer. “Partnering with KOHYGEN is another critical step forward in diversifying our global energy mix.”

In addition to deep domain experience across the hydrogen value chain, Emerson is providing core technologies, including temperature transmitters, flowmeters, pressure transmitters, programmable logic controllers (PLC) and valves, to deliver the high level of performance necessary for developing a commercially viable hydrogen charging model that can expand Korea’s domestic hydrogen market and serve as a template in other countries.

KOHYGEN is a special purpose company held jointly by nine energy industry leaders: Korea District Heating Corporation, Hyundai Motors, GS Caltex, S-Oil, Hyundai Oilbank, SK Energy, SK Gas, E1 and Air Liquide Korea.

For more information about Emerson’s role in developing solutions across the hydrogen value chain, visit https://www.emerson.com/hydrogen-value-chain.

Additional resources:

About Emerson

Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world’s essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.


Contacts

For Emerson
Denise Clarke
512.587.5879
This email address is being protected from spambots. You need JavaScript enabled to view it.

Whip Around developed the Whip Around Wallet to improve compliance and ensure their drivers are road ready at all times.



CHARLOTTE, N.C.--(BUSINESS WIRE)--Whip Around launches new document management solution for Fleet Managers and Drivers, a move designed to improve compliance and ensure their drivers are road ready at all times.

Poorly managed or missing documentation consistently features in the top roadside enforcement violations each year with in-cab documents relating to the driver and asset prone to damage, expiration or misplacement. Companies are liable for the actions of their employees, and can be held accountable if a non-compliant driver is operating an asset or unable to produce the required paperwork during a roadside check. With so much paperwork involved, it’s a challenge for drivers to store and manage it easily on the go, often putting themselves under the risk of scrutiny.

Steve Keppler from Scopelitis Transportation Consulting emphasized the growing issue of paper-based record keeping and FMCSA compliance, “Fleets that use paper-based recordkeeping tend to have more challenges recording data, maintaining records, missing important deadlines, locating proper records on request, and easily identifying compliance gaps in documents and dates. Using an electronic system addresses all of these weaknesses. It helps carriers be proactive to keep them compliant and identify issues early on before they become a problem.”

Whip Around Wallet is available on web and mobile. Documents are safely stored in the cloud and they can be tagged, making it quick and easy for drivers to access all the documentation that they need while out on the road. Accessibility is critical to document management, but the real value of Wallet lies in the ability to set expiration dates, renewal notifications and retention sunset reminders on documents. This dramatically lowers the risk of not meeting compliance requirements and the cost that goes along with it.

“It definitely helps our drivers remain compliant. It’s really easy to use, and made us a lot more organised. We can check that we’ve got all the required paperwork, and if we’re missing something from one truck we can grab it ” – Ryan Weinstein from M&M Waste.

A range of documentation can be stored in Wallet so that it’s easily accessible during a roadside check or audit.

Some of these include:

  • Vehicle permits and cab cards
  • Carrier insurance policies
  • Driver medical certificates
  • Evidence of periodic inspections
  • Period inspector credentials
  • ELD documentation
  • Trailer documents

“With Whip Around Wallet Fleet Managers can have peace of mind that they have set their team’s up for success. It’s another step towards Whip Around’s promise to help customers take control of their fleet maintenance processes, improve safety and compliance, and reduce costs and downtime” – Elizabeth Santorelly VP Product, Whip Around.

To learn more about the Whip Around Wallet, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 704 489 3268. Existing customers should contact their Account Manager or email This email address is being protected from spambots. You need JavaScript enabled to view it. for further details.

About Whip Around

Whip Around is a powerful, yet easy-to-use fleet maintenance software solution that connects drivers, mechanics and fleet operators to improve the uptime across their fleet operations. Whip Around operates in North America and Australasia and serves hundreds of thousands of users and assets worldwide across all commercial fleet industry verticals. The company’s mission is to keep the world’s fleets moving by accelerating information.


Contacts

Lauren Yeoman
704.412.3986
This email address is being protected from spambots. You need JavaScript enabled to view it.

ORLANDO, Fla.--(BUSINESS WIRE)--At a signing ceremony at Siemens Energy’s Innovation Center-Orlando, Siemens Energy and the Georgia Institute of Technology this week formalized their commitment to collaborate on solutions to meet society’s increasing demand for energy in an economically and environmentally sustainable manner. With the inauguration of the Innovation Center earlier this year, Siemens Energy announced its intention to expand its work with leading research universities on a broad range of energy technologies. The master research agreement will allow Georgia Tech and Siemens Energy to conduct joint research, as well as openly support each other’s independent research and development work. The two organizations have a decades-long history of collaboration on energy projects, particularly focused around design, materials, manufacturing, and gas turbine combustion.



“At Siemens Energy, we always say that when it comes to enabling the energy transition, we can’t do it alone,” said Rich Voorberg, president, Siemens Energy North America. “Georgia Tech is one of the leading research institutions in this country, and we are proud to continue to build on our strong relationship to deliver innovative solutions in support of clean, reliable, economically viable energy systems.”

“Georgia Tech is honored to work with our longtime partner Siemens Energy on research central to the future of energy and sustainability,” said Chaouki T. Abdallah, executive vice president for Research at Georgia Tech. “We are pleased to build on our decades of work together and we look forward to collaborating on solutions that will expand economic opportunity, address existential challenges, and improve human lives.”

The first project under the agreement will focus on technologies to enable the flexible use of hydrogen-based fuels and reduce the carbon footprint of other energy sources. In the future, joint projects may focus on government-funded projects, particularly those related to the development of the hydrogen economy. The agreement will also allow Georgia Tech to conduct contract work in support of Siemens Energy-led research projects, and Siemens Energy to more effectively serve as an industrial advisory board member for Georgia Tech’s research initiatives.

“We are beyond excited to enter into this important partnership with Siemens Energy,” said Tim Lieuwen, professor and executive director for the Strategic Energy Institute at Georgia Tech. “Siemens Energy will enable us to make good on our mission to integrates energy activities across the nation's largest technology university – from generation, to distribution, to use.”

This press release and a press picture / press pictures / further material is available at https://press.siemens-energy.com/na/en.

Follow us on Twitter at: www.twitter.com/siemens_energy

Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 91,000 people worldwide in more than 90 countries and generated revenue of €28.5 billion in fiscal year 2021. www.siemens-energy.com.

The Georgia Institute of Technology, or Georgia Tech, is a public research university developing leaders who advance technology and improve the human condition. The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees. Its nearly 44,000 students representing 50 states and 149 countries, study at the main campus in Atlanta, at campuses in France and China, and through distance and online learning. As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1 billion in research annually for government, industry, and society.


Contacts

Siemens Energy
Stacia Licona
Phone: +1 281-721-3402
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Georgia Tech
Georgia Parmelee
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (NYSE: DAC), one of the world’s largest independent owners of containerships, today announced that it expects to repurchase $37.234 million of its 8.500% unsecured senior notes due 2028 in a privately negotiated transaction.

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 69 containerships aggregating 423,745 TEUs and 6 under construction containerships aggregating 46,200 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC".

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although Danaos Corporation believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, Danaos Corporation cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the ability to consummate the expected senior notes repurchase, the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to perform their obligations to us, charter rates for containerships, shipyards constructing our contracted newbuilding vessels, performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing, Danaos’ ability to achieve the expected benefits of the 2021 debt refinancing and comply with the terms of its new credit facilities and other financing agreements, and to complete and achieve the expected benefits of refinancing our existing Citibank/Natwest credit facility with two new credit facilities as planned, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in Danaos Corporation's operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, including the conflict in Ukraine and related sanctions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by Danaos Corporation with the U.S. Securities and Exchange Commission.

Visit our website at www.danaos.com


Contacts

Company Contact:
Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6480
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Iraklis Prokopakis
Senior Vice President and Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6400
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations and Financial Media
Rose & Company
New York
Tel. 212-359-2228
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Unmanned Underwater Vehicles (UUV) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.


Unmanned underwater vehicles (UUV) are self-propelled vehicles, typically deployed from a surface vessel without any human operator onboard. These vehicles are designed to operate independently (or by a remote controller) for periods ranging from a few hours to several days. UUVs have received significant attention worldwide and increasingly being widely used across numerous applications. Some of the popular applications of UUV include surveillance, reconnaissance, mine countermeasures, ocean floor mapping, pipeline inspection, polar ice research, anti - submarine warfare and several others.

The most prominent factor driving the overall UUV market include consistently rising investment by the defense departments on undersea drones. UUVs are capable of operating in conditions where humans are incapable of reaching. This makes UUVs highly suitable for performing difficult tasks submerged in water. Another major factor fueling the market growth is the growing adoption of these drones from the oil & gas sector. Nevertheless, factors such as limited battery life and underwater communication barriers pose significant barrier to the market growth.

Overall, the research study provides a holistic view of the global unmanned underwater vehicles market, offering market size and estimates for the period from 2022 to 2030, keeping in mind the above-mentioned factors.

Currently, the overall unmanned underwater vehicles market is led by the remotely operated vehicles (ROV) segment. As of 2021, the segment contributes to more than fifty percent of the total revenue generated worldwide. These are typically tethered drones and are controlled remotely by a human operator. ROVs are popularly used for oceanic survey, pipeline inspection and environmental research. These vehicles are typically equipped with a camera and lights. Other payloads include sensors, SONAR, magnetometers and few others.

In the following years, autonomous underwater vehicles (AUV) and hybrid underwater vehicles segments are set to exhibit the highest growth. Most of the applications now demand preprogrammed UUVs that can carry out the given task with minimal human intervention. Growing investment for advancement of UUVs is estimated to result into higher adoption of AUVs and hybrid vehicles over the forecast period.

The overall unmanned underwater vehicles market is led by the North America region, as of 2021. The region contributes to more than fifty percent of the total revenue generated worldwide. The market here is principally backed by the U.S. accounting for nearly 90% of the total regional revenue. Due to high investment over undersea drones, the demand for UUVs is estimated to remain strong in the region over the forecast period. Subsequently, the region would continue dominating the market throughout the forecast period.

In the following years, Asia Pacific and Europe are set to emerge as the fastest-growing markets for UUVs. The Europe UUV market is primarily governed by Russia, the U.K. and France having strong expenditure over UUVs. Similarly, in Asia Pacific, China and Japan are the major consumers of UUVs. The demand for UUVs in Asia Pacific is set to increase due to rising territorial disputes in Asia Pacific waters.

Market Segmentation

Product

  • Autonomous Underwater Vehicles (AUV)
  • Remotely Operating Underwater Vehicles (ROV)
  • Hybrid Underwater Vehicles

Operating

  • Less than 200m
  • 200 to 1,000m
  • 1,000 to 3,000m
  • More than 3,000m

More than 3,000m

  • Defense
  • Scientific Research
  • Commercial

Key Topics Covered:

1. Preface

2. Executive Summary

3. Unmanned Underwater Vehicles (UUV) Market: Business Outlook & Market Dynamics

4. Unmanned Underwater Vehicles (UUV) Market: By Product, 2020-2030, USD (Million)

5. Unmanned Underwater Vehicles (UUV) Market: By Operating, 2020-2030, USD (Million)

6. Unmanned Underwater Vehicles (UUV) Market: By More than 3,000m, 2020-2030, USD (Million)

7. North America Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)

8. UK and European Union Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)

9. Asia Pacific Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)

10. Latin America Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)

11. Middle East and Africa Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)

12. Company Profile

Companies Mentioned

  • Kongsberg Maritime AS
  • Boeing Company
  • Bluefin Robotics Corporation (General Dynamics Corporation)
  • Raytheon Company
  • Teledyne Technologies Inc.
  • Lockheed Martin Corporation
  • Saab Group
  • Subsea 7 S.A.
  • Thales Group
  • BAE Systems Plc.
  • ATLAS ELEK

For more information about this report visit https://www.researchandmarkets.com/r/7ux9zu


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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African Carbon Trade Ambassador Agreement sets targets to activate the African continent’s opportunities under the Paris Agreement.


ABUJA, Nigeria & LONDON & BRISBANE, Australia--(BUSINESS WIRE)--#africa--Carbon Trade Exchange Limited (CTX) and Global Environment Markets (GEM) have signed a pan-African Ambassador Agreement with Ecologistics Integrated Services Limited (Ecologistics).

This Agreement was forged at COP27 in Egypt to meet an overwhelming demand for Africa to engage in supporting the Carbon Markets.

CTX, GEM and Ecologistics will work together to expand GEM’s National Carbon Meta Registries aimed at supporting the development of Carbon Markets, ITMO, Voluntary Markets in Africa, and to produce Carbon Credits to be available for global trading via an electronic interface with CTX.

Leveraging GEM’s “Technology Infrastructure for the Future of our Planet” provides the opportunity for governments, as Paris Agreement signatories, to support their commitments and trade credits under Article 6.

Ecologistics is a leading global climate change investment and sustainable development firm with headquarters in Abuja, Nigeria, The firm is also the convener of the Nigeria Climate Change Investment Forum (NCCIF) and the Africa Climate Change Investment Forum (ACCIF).

GEM licenses registry software solutions and the Trading Exchange Technology for environmental commodity markets. Additionally, it is an approved vendor to the World Bank.

GEM is also a strategic partner of Gold Standard and UNFCCC, and owns all the globally licensed IP and the built-in ‘meta-registry’ technology for Carbon Trade eXchange (CTX) which has housed and transacted up to eight different Credit Standards simultaneously and globally, 24/7/365.

The CEO of GEM, Wayne Sharpe, stated: “We are extremely pleased to be joined by Ecologistics in a pioneering level of engagement for Africa within the Carbon Markets”.

The President and CEO of Ecologistics, Dr. Paul Abolo, added that “this Ambassador Agreement is a huge responsibility for Ecologistics, its partners and affiliates to coordinate all parties-of-interest in ensuring that Africa is adequately represented in the global carbon markets, and this is of crucial importance.”

This strategic Ambassador Agreement between Ecologistics, GEM, and CTX is not only accelerating the economic development within Africa but also curbing GHG emissions.


Contacts

CTX/GEM:
Wayne Sharpe, This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 7502 229523,
www.ctxglobal.com
www.gemglobal.com

Ecologistics:
Dr. Paul Abolo, This email address is being protected from spambots. You need JavaScript enabled to view it.
+234 805 427 6802
www.eislco.com

PITTSBURGH--(BUSINESS WIRE)--ERIKS North America, a leading distributor of fluid and material conveyance solutions for industrial customers, announced today that it has appointed David Brown as its Chief Financial Officer.


David Brown has joined ERIKS North America as its new Chief Financial Officer. With more than 15 years of Senior Leadership experience and over 25 years of financial roles in accounting and finance, Brown has expertise aligning finance organizations and departments with overall organizational strategy and operating goals across multiple companies and industries.

Brown was most recently Chief Financial Officer at A. Stucki Company, a manufacturer of highly engineered freight car components, in Pittsburgh, PA where he focused on ERP and acquisition integration to drive value creation and enhanced profitability. Prior to that position he was CFO for Implus LLC, a private equity sponsored consumer packaged goods company. Brown also spent over 17 years at Airgas, an Air Liquide company, in corporate and subsidiary financial leadership roles.

As Brown joins ERIKS North America, he will be guiding our finance team through a transition out of ERIKS Global, who sold the North American division in March 2022.

"We are pleased to welcome Dave to the ERIKS NA team, and I look forward to working closely with him as we build momentum on our growth journey," said Jeff Crane, CEO of ERIKS North America. "Having Dave as a thought partner will ensure that we are not only growing our business aggressively but that we also have the tools and insight necessary to maximize our profitability in the process."

Commenting on his appointment, Brown said, “I am pleased to join a company that is focused on delivering best in class customer experience, is committed to a culture of inclusion and engagement, and is uniquely positioned to deliver enhanced shareholder value.”

About ERIKS North America:

ERIKS North America, a portfolio company of LKCM Headwater Investments, is a leading distributor of fluid and material conveyance solutions for industrial customers. Our technical solutions and services keep our customers running, reduce downtime and total cost of ownership.


Contacts

Lauren Shaffer
This email address is being protected from spambots. You need JavaScript enabled to view it.
412-925-7390

DUBLIN--(BUSINESS WIRE)--The "Analyzing Gas to Liquids Market 2022" report has been added to ResearchAndMarkets.com's offering.


The report looks at the growth factors, challenges and barriers, the concept of using GTL fuel for transportation, the economic feasibility of GTL technologies and GTL projects, the effect of GTL on the energy market, and of course, the basics of Gas to Liquid technologies. A lot more awaits you inside this comprehensive intelligent analysis of GTL technology and market.

At the end of 2019, the global gas to liquid market size was estimated to be above USD 5.55 billion. However, the COVID-19 pandemic had a devastating impact on this industry as many of the projects got delayed, and some were permanently shut down.

Between 2020 to 2022, the global GTL market witnessed a significant decline, and it is expected to experience moderate growth in the coming years to 2028. A return to the pre-pandemic levels is expected eventually, though at a slow pace. Nevertheless, it is expected that the market for GTL will witness a boost in the future as several projects get completed and come online by the end of 2030.

The publisher brings you an in-depth focus on the technology of Gas to Liquids. Analyzing Gas to Liquids Market 2022 focuses on all aspects of the Fischer Tropsch process, conversion processes utilized on natural gas, the major companies which are investing in this technology, the reasons for investing in GTL and the investment scenario in the technology, and the financial difficulties faced during financing of projects.

The engineering process involved in GTL is a value enhancer to this edition, along with a look at how GTL can reduce emissions in the atmosphere.

An in-depth analysis of all major companies participating actively in GTL developments is also included in the report.

Companies included in the report are:

  • Cosmo Oil
  • Chiyoda Corporation
  • Equinor
  • General Electric
  • QatarEnergy
  • Royal Dutch Shell
  • PetroSA
  • ExxonMobil
  • ConocoPhillips
  • Sasol Limited
  • Chevron
  • BP plc

Key Topics Covered:

A. Executive Summary

B. Introduction to Gas to Liquids

B.1 Status of Global Natural Gas Markets

B.2 Exploiting Natural Gas

B.3 Introduction to Gas-to-Liquids

B.4 What is Gas to Liquids?

B.5 History of GTL

B.6 Solution Options for GTL

B.7 Benefits of the Technology

B.8 Importance of GTL

B.9 Investing in GTL

B.10 Global GTL Commercialization Activity

B.11 Impact of the COVID-19 Pandemic on the GTL Market

B.12 Business Outlook for GTL

C. GTL & Implications for the Energy Market

D. GTL Technologies

D.1 Fischer-Tropsch Process

D.2 Syngas

D.3 Looking at the Major Technological Processes

D.3.1 ExxonMobil Process

D.3.2 Rentech Process

D.3.3 Sasol Process

D.3.4 Shell Process

D.3.5 Statoil Process

D.3.6 Syntroleum Process

E. Market Status of Gas to Liquids

F. Market Potential of GTL

F.1 Greenhouse Gas Contributions

F.2 Technological Strategies

G. Economics of GTL

G.1 Capital Cost of GTL

G.2 Fuel Cost in GTL Process

G.3 O&M Cost of GTL

G.4 Other Revenues from GTL Products

G.5 Rentech's Polygeneration Strategy

H. Major Issues & Challenges

H.1 Challenges in Size

H.2 High Capital Cost

H.3 Internal Energy Integration

H.4 Air Separation Unit Technical Issues

H.5 Syngas Generation Area Technical Issues

H.6 F-T Synthesis Technical Issues

H.7 Problems with Financing GTL Projects

H.8 Air Pollution

I. How to Engineer a GTL Project

I.1 Introduction

I.2 Opportunities in Process Engineering

I.3 The Fuel System

I.4 Looking at Capital Cost vs. Process Efficiency

I.5 Engineering Challenges

I.6 Looking at Engineering and Construction

I.7 Schedule for Building a GTL Facility

J. Factors Promoting GTL Technology

J.1 Global Climate Change

J.2 Gas Monetization

K. Using GTL Fuel for Transportation

L. Reducing Emissions by Using GTL Technology

M. Comparing GTL and LNG

M.1 Introduction

M.2 Market Potential: LNG versus GTL

M.3 Technological Comparison

M.4 Efficiency Comparison

M.5 Comparison of Capital Costs

M.6 Product Comparison

M.7 Conclusion

N. Leading Players in GTL

N.1 Company Overview

N.2 Business Segments

N.3 Focus on GTL

N.4 Financial Analysis

N.5 SWOT Analysis

For more information about this report visit https://www.researchandmarkets.com/r/ojyflu


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SOUTHFIELD, Mich.--(BUSINESS WIRE)--In its second transaction this quarter, Atwell has acquired Ben Dyer Associates, Inc., a 60-person engineering firm based in Maryland. Ben Dyer Associates specializes in civil engineering, land planning, and surveying services for land development and redevelopment projects throughout Maryland and the District of Columbia. The terms of the transaction were not disclosed.


This acquisition expands Atwell’s reach into the US Mid-Atlantic region and will strengthen Atwell’s ability to support a variety of land development projects, including single and multi-family residential, commercial, and industrial. Ben Dyer is also experienced in the power and energy market, enhancing Atwell’s ability to support solar projects on the east coast.

“Atwell and Ben Dyer share a similar business strategy – we guide and advise our clients through every stage of a project from concept to completion,” said Brian Wenzel, President and Chief Executive Officer of Atwell. “This acquisition supports an expansion into a new region for Atwell and is another meaningful advancement of our long-term strategic growth.”

“Alignment of culture and values is incredibly important for us,” said Steve Mauersberg, President of Ben Dyer Associates. “Ben Dyer and Atwell share a joint vision of improving our communities, helping our clients achieve success, and providing opportunities for our employees.”

The company founder, Ben Dyer, entered private practice as a registered professional engineer and land surveyor in 1935. In 1952, the company was incorporated as Ben Dyer Associates, Inc. Mauersberg began his career with Ben Dyer Associates in 1986. Every president’s career has spanned more than three decades with the company.

“We’re excited to welcome the members of Ben Dyer to the team,” said Bill Anderson, Vice President of Land Development in the US East at Atwell. “We believe that Ben Dyer is the right firm for expanding our geographic footprint while continuing to provide expert service to our land development clients.”

Atwell continues to expand its geographic footprint, service offerings, and capabilities through organic growth and strategic acquisitions. Last month, Atwell financed the acquisition of Cross Surveying, a 28-person land surveying firm based in Florida.

Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country totaling more than 1,400 team members. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.


Contacts

Timothy Augustine, Vice President & Partner: ATWELL, LLC 248.447.2005 This email address is being protected from spambots. You need JavaScript enabled to view it.

  • This year’s event will focus on “Building the Next Battery Supply Chain”
  • Keynote presented by SES AI Founder & CEO Dr. Qichao Hu
  • Panel discussion with representatives from GM, Honda, Hyundai Motor, Ivanhoe Mines and Tianqi Lithium
  • Battery World U.S.: December 13, 2022, 11:00AM EST
  • Battery World Korea: December 14, 2022, 10:00AM KST
  • Battery World China: December 14, 2022, 11:00AM CST

BOSTON--(BUSINESS WIRE)--SES AI Corporation (NYSE: SES) (“SES”, “SES AI” or the “Company”), a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, headquartered in Boston, USA and with facilities in Shanghai and South Korea, today announced the agenda Battery World 2022.


The theme of this year’s event will be “Building the Next Battery Supply Chain,” and will leverage SES AI’s expertise and insight to discuss the challenges and opportunities around US and global battery supply chains. The event will also convene leading experts from raw material mining companies to car manufacturers to discuss what’s next for the electric vehicle industry and the future of transportation.

“Despite a number of challenges faced during 2022, we are still making incredible progress,” said Dr. Qichao Hu, Founder & CEO of SES AI. “Every battery company faces hurdles, but we are confident in our approach of building Li-Metal cells and treating a cell as a system. This is why we have started working on the next battery supply chain to prepare for commercialization later.”

Battery World U.S. Details:

Logistics

  • Date: Tuesday, December 13, 2022
  • 11:00AM – 11:20AM Keynote Speech
  • 11:20AM – 11:50AM – Expert Panel
  • 11:30AM – 12:10PM - Q+A
  • You can register for the event here.

A replay of Battery World 2022 will be continuously available on www.ses.ai after the event takes place.

Keynote: Dr. Hu will open his keynote by exhibiting and talking through new data on the large cells and discuss SES AI’s strategy and progress against the broader landscape of societal shifts and developments.

Battery Industry Expert Panel:

SES AI has convened a panel of world-renowned battery experts to discuss building the next-generation battery supply chain Moderated by Mark Newman, Founder of Electric Revolution Ventures, this panel will feature representatives from:

  • General Motors
  • Hyundai Motor Company
  • Honda R&D Co Ltd
  • Ivanhoe Mines
  • Tianqi Lithium
  • SES AI

Q&A: Following the panel, there will be a live Q&A led Dr. Qichao Hu.

Following Battery World U.S. on December 13, SES AI will hold similar events in both South Korea and China.

Battery World Korea Details:

Battery World China Details:

About SES AI

SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Boston, MA and has operations in Singapore, Shanghai, and South Korea. To learn more about SES, please visit: ses.ai/investors/

The Company may use its website as a distribution channel of material company information. Financial and other important information regarding the Company is routinely posted on and accessible through the Company’s website at www.ses.ai. Accordingly, investors should monitor this channel, in addition to following the Company’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Forward-looking statements

All statements other than statements of historical facts contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements relating to expectations for future financial performance, business strategies or expectations for our business. These statements are based on the beliefs and assumptions of the management of SES. Although SES believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot provide assurance that it will achieve or realize these plans, intentions or expectations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “anticipate”, “believe”, “can”, “continue”, “could”, “estimate”, “expect”, “forecast”, “intend”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “seek”, “should”, “strive”, “target”, “will”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

You should not place undue reliance on these forward-looking statements. Should one or more of a number of known and unknown risks and uncertainties materialize, or should any of our assumptions prove incorrect, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to the following risks: changes in domestic and foreign business, market, financial, political and legal conditions, including but not limited to the ongoing conflict between Russia and Ukraine; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES’s battery technology and the timing and achievement of expected business milestones; the effects of competition on SES’s business; the ability of SES to issue equity or equity-linked securities or obtain debt financing in the future; the ability of SES to integrate its products into electric vehicles (“EVs”); the risk that delays in the pre-manufacturing development of SES’s battery cells could adversely affect SES’s business and prospects; potential supply chain difficulties; risks resulting from SES’s joint development agreements and other strategic alliances and investments; the quickly evolving battery market; SES’s ability to accurately estimate future supply and demand for its batteries; SES’s ability to develop new products on an ongoing basis in a timely manner; product liability and other potential litigation, regulation and legal compliance; SES’s ability to effectively manage its growth; SES’s ability to attract, train and retain highly skilled employees and key personnel; the willingness of vehicle operators and consumers to adopt EVs; developments in alternative technology or other fossil fuel alternatives; SES’s ability to meet certain motor vehicle standards; a potential shortage of metals required for manufacturing batteries; risks related to SES’s intellectual property; risks related to SES’s business operations outside the United States, including in China and South Korea; the uncertainty in global economic conditions and risks relating to health epidemics, including the COVID-19 pandemic and any operational interruptions; SES has identified material weaknesses in its internal control over financial reporting and may identify material weaknesses in the future or otherwise fail to maintain an effective system of internal controls; compliance with certain health and safety laws; changes in U.S. and foreign tax laws; and the other risks described in “Part I, Item 1A. Risk Factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022 and other documents filed from time to time with the SEC. There may be additional risks that SES presently knows and/or believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect SES’s expectations, plans or forecasts of future events and views only as of the date of this press release. SES anticipates that subsequent events and developments will cause its assessments to change. However, while SES may elect to update these forward-looking statements at some point in the future, SES specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing SES’s assessments as of any date subsequent to the date of this press release.


Contacts

Investors: Eric Goldstein This email address is being protected from spambots. You need JavaScript enabled to view it.
Media: Irene Lam This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Hydrogen as a Commercial Aviation Fuel" report has been added to ResearchAndMarkets.com's offering.


This study analyzes hydrogen use as aviation fuel. Along with sustainable fuels, industry stakeholders are looking at technologies such as direct electric propulsion as alternatives for jet fuel.

Traditional jet fuel comes from processing fossil fuels. As a result, its use in the aviation industry significantly increases carbon emissions, which are responsible for global warming and climate change.

The two primary methods for hydrogen use are fuel cells and direct combustion. Fuel cells deliver the cleanest outputs, making it preferable over direct hydrogen combustion, which emits nitrous oxides.

The hydrogen extraction method also determines its overall contribution to controlling emissions. Derived from fossil fuels, grey hydrogen is not entirely carbon emission-free as the extraction process releases carbon. Blue hydrogen, which is similarly derived, uses carbon capture techniques but is not wholly effective. The major difference in emissions control is achievable through green hydrogen usage, which is from renewable sources and is the cleanest.

Adjacent industries, such as automotive, space, and shipping, are adopting hydrogen. These developments are expected to drive its adoption in the aviation industry. As any new technology has pros and cons, stakeholders involved in hydrogen propulsion technology development, such as aircraft manufacturers, are working toward countering the challenges associated with hydrogen adoption.

Other information includes:

  • Various hydrogen production processes and hydrogen utilization
  • Challenges in managing hydrogen
  • The current scenario in hydrogen adoption as an aviation fuel

Key Topics Covered:

1 Strategic Imperatives

  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative
  • The Impact of the Top 3 Strategic Imperatives on Hydrogen Adoption as a Fuel in the Aviation Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine

2 Growth Opportunity Analysis

  • Growth Drivers
  • Growth Restraints
  • CO2 Emissions - Current Scenario and Industry Mandates
  • Available Alternatives to Traditional Jet Fuel
  • Hydrogen Extraction Processes
  • The Positive and Negative Aspects of Using Hydrogen as a Fuel
  • Primary Challenges and the Way Forward
  • Hydrogen Adoption as a Fuel in Adjacent Industries
  • Key Aviation Industry Developments
  • Major Partnerships

3 Growth Opportunity Universe

  • Growth Opportunity 1 - Form Long-term Partnerships with Stakeholders
  • Growth Opportunity 2 - Airports to Lead Hydrogen Fuel Adoption in the Aviation Industry
  • Growth Opportunity 3 - Direct Hydrogen Propulsion R&D Toward Long-haul Flights
  • Growth Opportunity 4 - Raise Hydrogen Fuel Awareness in Asia-Pacific, Latin America, and Africa

4 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/kov94m


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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ALBANY, N.Y.--(BUSINESS WIRE)--$SLNH #SLNH--Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing, has released a recording and transcript of John Belizaire, CEO of Soluna Computing, participating in the Water Tower Research Fireside Chat Series.


Topics include:

  • How Soluna’s data centers can help support the growth of renewable energy on the electric grid.
  • The outlook for green Bitcoin mining following the recent market turbulence.
  • Future market structures and incentives to balance a majority renewable energy grid.
  • An update on Soluna’s flagship project, Project Dorothy, as the project continues to progress toward energization in Texas.

MATERIALS CAN BE FOUND ON SOLUNA’S WEBSITE
https://www.solunacomputing.com/blog/firesidechat/

About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

About Water Tower Research
Water Tower Research is an investor engagement and stakeholder communication platform powered by Wall Street veterans with significant experience and credibility. We create, deliver, and maintain the information flow required to build and preserve relationships between companies and all their stakeholders and investors. “Research for the other 99%™” opens the door for every investor to stay informed and ensures transparency, better engagement, and equal communication.


Contacts

Soluna Computing, Inc.
Sam Sova
VP, Marketing
Soluna Computing, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
414 699 3667

Investor Relations
Brian M. Prenoveau, CFA
MZ Group – MZ North America
This email address is being protected from spambots. You need JavaScript enabled to view it.
561 489 5315

Water Tower Research
Graham Mattison
Senior Research Analyst
Water Tower Research
This email address is being protected from spambots. You need JavaScript enabled to view it.

Booster, Hyundai, Hyzon, Kenworth, Nikola, Voltera, and other leaders in transportation gather at Port of Long Beach event to showcase zero-emission technologies

SAN MATEO, Calif.--(BUSINESS WIRE)--Booster® — a leading mobile energy delivery company — will be joining top names in transportation at an event to showcase zero-emission technologies on December 7, 2022, at the Port of Long Beach in Long Beach, California. Hosted by the Harbor Trucking Association, the Zero-Emission Ride & Drive event brings together leading transportation companies, suppliers, and vehicle manufacturers that are actively working to combat the growing climate crisis by promoting the adoption of zero-emissions vehicles.


Booster joins the roster of exhibitors to present its progress in mobile fueling innovations, sustainable energy delivery, and decarbonization solutions. Zero-Emission event attendees can experience the technological advancements and learn more about the benefits of zero-emission trucks, buses, and heavy equipment. Attendees will also be able to explore advancements in mobile and stationary electric charging, offsite and onsite hydrogen fuel, ZEV infrastructure parking, and mobile ZEV repair.

Additional exhibitors include heavy-duty commercial vehicle manufacturers Hyundai, Hyzon, Kenworth, Nikola, and Peterbilt as well as regional utility company Southern California Edison and a variety of partners including GTL Hydrogen Trailers and Voltera.

Six heavy-duty zero-emission trucks — including battery-electric vehicles and hydrogen fuel-cell electric vehicles — will be on display from these exhibitors. Attendees have the option to ride, drive, or preview a Class-8 battery or fuel cell electric truck to educate participants about various zero-emission technologies.

“Zero-emissions vehicles and supporting infrastructure are critical assets to decarbonize transportation and accelerate the transition to clean energy,” said Frank Mycroft, founder and CEO of Booster. “The Zero-Emissions Ride & Drive event brings together some of the top players who are working to broaden adoption of zero-emission trucks, and Booster is thrilled to participate as a mobile energy partner.”

The Zero Emission Ride & Drive event comes on the heels of the Global Memorandum of Understanding on Zero-Emission Medium- and Heavy-Duty Vehicles (Global MOU), a global call to action by 16 leading nations to cut climate emissions from transport and accelerate the global zero-emission truck and bus segment. This coalition of countries are encouraging nations around the world to adopt a 100% zero-emission truck and bus sales target by 2040, with an interim goal of 30% zero-emission vehicle sales by 2030, to achieve net-zero carbon emissions by 2050.

Event Details:

Name: Zero-Emission Ride & Drive event

Date: Wednesday, December 7, 2022

Time: 10 am to 4:30 pm PT

Location: Port of Long Beach, 2100 West Anaheim, Long Beach, CA 90802

RSVP details: Event is open to the public, all are welcome. Attendees must pre-register to test drive a Class-8 electric or hydrogen fuel cell truck - register here.

  • Download the Zero-Emission Ride & Drive marketing flier here.

About Booster

Booster is a tech-driven mobile energy delivery company on a mission to fuel the energy transition. Headquartered in San Mateo, California, Booster delivers conventional and renewable energy directly to fleet vehicles nationwide, lowering carbon emissions, reducing costs, and providing access to renewable fuels. At a time when the urgent desire to transition to a more sustainable energy future is far outpacing the development of infrastructure, Booster provides a critical solution for Amazon, Imperfect Foods, UPS, and hundreds of other customers — no filling stations, truck stops, or off-route trips required. For more information, visit boosterusa.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.


Contacts

Booster Media Contact:
ASTRSK PR
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Hotline:
(408) 560-7434

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