DUBLIN--(BUSINESS WIRE)--The "Global Refinery Crude Distillation Units (CDU) Outlook to 2025 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Crude Distillation Units" report has been added to ResearchAndMarkets.com's offering. The global crude distillation unit capacity (CDU) capacity increased from 99,284 thousand barrels per day (mbd) in 2015 to 103,067 mbd in 2020 at an Average Annual Growth Rate (AAGR) of 0.7 percent.
It is expected to increase from 103,067 mbd in 2020 to 114,416 mbd in 2025 at an AAGR of 2.1 percent. The US, China, Russia, India, and Japan are the major countries that accounted for 47.2 percent of the total global CDU capacity in 2020.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
2. Global Refinery CDU, Snapshot
2.1. Global Refinery CDU, Key Data, 2020
2.2. Global Refinery CDU, Planned and Announced CDUs
2.3. Global Refinery CDU, New CDUs and Capacity Expansions by Region
2.4. Global Refinery CDU, Regional Comparisons
3. Africa Refinery CDU
3.1. Africa Refinery CDU, Snapshot
3.2. Africa Refinery CDU, Planned and Announced CDUs, Capacity Expansions and Capex by Country
3.3. Africa Refinery CDU, New CDUs and Capacity Expansions by Key Countries
3.4. Africa Refinery CDU, Egypt
3.5. Africa Refinery CDU, Algeria
3.6. Africa Refinery CDU, South Africa
3.7. Africa Refinery CDU, Nigeria
3.8. Africa Refinery CDU, Libya
3.9. Africa Refinery CDU, Morocco
3.10. Africa Refinery CDU, Sudan
3.11. Africa Refinery CDU, Angola
3.12. Africa Refinery CDU, Cote d'Ivoire
3.13. Africa Refinery CDU, Cameroon
3.14. Africa Refinery CDU, Djibouti
3.15. Africa Refinery CDU, Tunisia
3.16. Africa Refinery CDU, Gabon
3.17. Africa Refinery CDU, Senegal
3.18. Africa Refinery CDU, Zambia
3.19. Africa Refinery CDU, Congo Republic
3.20. Africa Refinery CDU, Niger
3.21. Africa Refinery CDU, Equatorial Guinea
3.22. Africa Refinery CDU, Chad
3.23. Africa Refinery CDU, South Sudan
3.24. Africa Refinery CDU, Ethiopia
3.25. Africa Refinery CDU, Sierra Leone
3.26. Africa Refinery CDU, Zimbabwe
3.27. Africa Refinery CDU, Liberia
3.28. Africa Refinery CDU, Guinea
4. Asia Refinery CDU
5. Caribbean Refinery CDU
6. Central America Refinery CDU
7. Europe Refinery CDU
8. Former Soviet Union Refinery CDU
9. Middle East Refinery CDU
10. North America Refinery CDU
11. Oceania Refinery CDU
11.1. Oceania Refinery CDU, Snapshot
11.2. Oceania Refinery CDU, Australia
11.3. Oceania Refinery CDU, New Zealand
11.4. Oceania Refinery CDU, Papua New Guinea
12. South America Refinery CDU
13. Appendix
13.1. Abbreviations
13.2. Status Definition
13.3. States by PADD Regions Included in the Report
13.4. Methodology
For more information about this report visit https://www.researchandmarkets.com/r/1zk6iv?
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BOWLING GREEN, Ohio--(BUSINESS WIRE)--#Circulareconomy--A-Gas, a leading provider of environmental solutions for the refrigerants and fire protection industries, announced today the expansion of its business operations in Minnesota.
“Following our entry into the Minnesota marketplace in 2018, we’ve experienced rapid growth,” comments A-Gas’s Vice President of Refrigerants, Taylor Ferranti. “Demand from customers, suppliers, and key industry partners for A-Gas’s broad suite of environmental solutions, creates an attractive position for expansion in Minnesota. The United States will start the phasedown of hydrofluorocarbons (HFCs) in six months, and A-Gas has a broad portfolio of products and services to ease this transition for our customers and partners.”
With more than 30 locations across the United States, A-Gas is a market leader in the safe management of a wide range of refrigerants and other specialty products, all of which have the potential to contribute to global warming if not handled with the highest level of care.
“Our key focus, in our operations around the world, is to eliminate the emission risk of these potent greenhouse gases to the environment,” noted Mike Armstrong, President of A-Gas in the Americas. “A-Gas has delivered valuable, industry-leading solutions for our partners across the Midwest, and our expansion in Minnesota reflects on both our passion for sustainable refrigerant management and protecting our environment.”
A-Gas manages the full life cycle of refrigerants for its partners around the world and safely recycles millions of pounds of material each year.
About A-Gas:
A-Gas (U.S.), headquartered in Bowling Green, Ohio, is a trading subsidiary of A-Gas International (headquartered in Bristol, UK) and is the World’s largest refrigerant recovery and reclamation company. The company’s core business offers environmental solutions and lifecycle management services for ozone depleting substances and global warming agents including CFCs, HCFCs, HFCs and Halons in the HVAC/Refrigeration and Fire Suppression Industries. For more information about A-Gas, please visit www.agas.com/us
Jaclyn Schilkey
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419-704-4737
Investments will fund the development of carbon-related Rheaply feature updates to help companies measure carbon emissions savings from reuse and fuel the circular economy
CHICAGO--(BUSINESS WIRE)--#blackfounder--Rheaply, a climate tech company that combines a resource-sharing network with a user-friendly asset management platform, today announced that it has raised a $2.2 million inter-series funding round led by Microsoft’s Climate Innovation Fund, with additional investments made by MIT Solve’s investment arm, Solve Innovation Future. The investments will be directed toward building carbon-based reporting into the platform, so companies can measure carbon emissions reductions as they utilize the platform.
Rheaply’s unique platform, Asset Exchange Manager (AxM)TM, maximizes the reuse, remanufacturing, and exchange of resources within and across organizations. The platform tracks inventory and depreciation, allowing users to better visualize, quantify, and utilize surplus assets, or to dispose of them properly. The transparent asset management system also offers facilitated peer-to-peer asset exchange, a gamified online marketplace, and sustainability metrics—enabling less waste and more cost-effective reuse.
Now, Rheaply will implement a multi-phase carbon product roadmap to align with key milestones and objectives defined in partnership with Microsoft. This will help organizations tie material reuse to carbon accounting and credit opportunities. Rheaply’s platform will be the first to bring this metric to the B2B asset exchange technology market.
“Given Microsoft’s status as a leader in corporate sustainability efforts, we are thrilled to be able to collaborate with them,” said Garry Cooper, CEO and Co-founder of Rheaply. “We are thrilled to have the support of Microsoft and MIT Solve as we work to change the way that organizations view reuse efforts and empower every employee to contribute to corporate net zero carbon and waste efforts.”
“When we set our company commitment to become carbon negative by 2030, we knew that we needed to chart a course that would enable other organizations to follow,” said Brandon Middaugh, Director of Microsoft’s Climate Innovation Fund. “For us, that means investing in innovative climate solutions like Rheaply’s. By adding carbon-reduction insights to its circular economy platform, Rheaply will make it possible for organizations to set and reach carbon-reduction targets through resource sharing."
“Solve Innovation Future was created for opportunities such as this—to provide catalytic support to our Solver teams’ efforts and advance real, impactful change in our world,” said Casey van der Stricht, Principal, Solve Innovation Future, the investment arm of MIT Solve. “We’re excited to help position Rheaply as the industry leader in accountable, measurable impact for reuse through carbon-based reporting, and to support Garry on his vision of a shared and circular economy for innovation.”
To date, Rheaply has helped organizations divert over 15 metric tons of waste and produce millions of dollars in cost savings over 5,000 transactions to help fuel the circular economy. The company’s platform currently services private enterprises, universities, and government entities, including the U.S. Air Force, Google, AbbVie, Exelon, MIT, Rutgers University, Barnard College, University of Illinois at Chicago, and Washington University in St. Louis.
This funding continues to build on the company’s momentum and expansion and follows a recent $8 million Series A round in February 2021 led by High Alpha, and last year’s $2.5 million seed round.
About Rheaply
Rheaply is the technology for connecting professionals with resources and catalyzing the circular economy. As the only market solution that combines an asset management system with an online marketplace, Rheaply’s Asset Exchange Manager (AxM)TM enables organizations to manage and transact physical assets more effectively, eliminating unnecessary waste and spend. To learn more about Rheaply, visit rheaply.com or follow @RheaplyInc.
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Delilah Bennett
3Points Communications
312-725-7950 ex. 701
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Innovative and reliable Rapid Shutdown Device Supports Modules and Inverters in the global markets.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced a new offering of the Tigo TS4-A-F rapid shutdown device (RSD) with fire safety support for industry-leading solar modules up to 700-watts. Tigo continues a tradition of providing higher power MLPE ahead of the market need in anticipation of the future capacity increase of PV Modules. The Tigo TS4-A-F RSD continues to provide installers a reliable solution with a single product that works with a broad family of inverters and modules. Tigo delivers best-in-class fire safety for solar installations.
As solar module power ratings continue to rise, the Tigo TS4-A-F RSD is the foundation for solar installations in all segments: residential, C&I (commercial and industrial) and utility scale. Through the Tigo Enhanced program, Tigo customers and installers have the freedom to choose the right equipment for their solar projects through a simple plug-and-play model in combination with major inverter suppliers Chint Power Systems (CPS), Solectria, Sungrow, Canadian Solar, and Growatt. Additionally, the new Tigo TS4-A-F RSD offers:
The Tigo TS4-A-F RSD ensures that installers have the flexibility to deploy the industry’s highest wattage solar modules and offer their customers the most energy production per available rooftop space.
In order to meet the rapid shutdown requirements which have propagated globally, Tigo products are UL PV Rapid Shutdown System (PVRSS) certified with hundreds of inverters. Reliable rapid shutdown functionality is essential to ensuring fire safety for system owners as well as firefighters and first responders who can now safely perform their work without encountering high-voltage DC electricity from solar components. In addition to fire safety, Tigo leads the way in solar innovation by enabling plug-and-play installation and rapid commissioning.
“Rapid shutdown is an essential element of PV systems safety, and the 700W Tigo TS4-A-F now supports new high-power modules,” said Jing Tian, Chief Growth Officer at Tigo Energy. “Our ability to maintain MLPE market leadership comes from a deep well of innovation and our commitments to give our customers the power to use exactly the components that satisfy their needs. We are very happy to extend this level of flexibility for PV safety to the highest power solar modules on the market today.”
The new high-power 700W Tigo TS4-A-F RSD will be available for purchase directly and from Tigo channel partners starting on June 22, 2021. Interested parties should contact the Tigo sales team at www.tigoenergy.com/contacts.
To learn more about the 700W Tigo TS4-A-F RSD, please see the product page here.
About Tigo Energy
Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.
Mike Gazzano
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WALTHAM, Mass.--(BUSINESS WIRE)--#community--Opinion Dynamics is pleased to introduce Yvonne Abel as Head of People and Culture. Yvonne brings a truly unique perspective and skill set to this new role, having started her career as a consulting analyst before pivoting to a people and culture professional. Yvonne will work closely with other senior leadership to ensure the Opinion Dynamics’ corporate culture supports growth, meaningful impact, and continues to be grounded in our corporate values: collegiality and collaboration, passionate employees, growth and enrichment opportunities, innovative thought, and integrity. Additionally, Yvonne will lend her expertise to Opinion Dynamics’ Diversity, Equity, and Inclusion efforts, actively seeking out ways to sustain, grow, and demonstrate our commitment in this important area.
“Hiring a senior leader dedicated to our People and Culture signifies our commitment to providing the best experience for our growing staff. We are so pleased to have someone in this role who brings a unique understanding of the trials and tribulations of being a consultant. Personally, I’m excited to work with her to help ensure we are putting our people first.”
“I’m incredibly pleased to join Opinion Dynamics at such an exciting time for the company,” said Opinion Dynamics Head of People and Culture, Yvonne Abel. “Maintaining alignment between people, culture, and strategy is a passion for me—and being able to bring that expertise to an organization that is growing, with such a strong core commitment to its people is an honor.”
About Opinion Dynamics – Opinion Dynamics works to advance knowledge to address emerging energy and social issues through sound and insightful research. It is the largest independently owned company that focuses on energy efficiency, transportation electrification, beneficial electrification, and flexible load. It is headquartered in Massachusetts with offices in Northern and Southern California, and Portland, OR, as well as satellite offices throughout the country. For more information, please visit www.opiniondynamics.com.
Keri Bailey, Communications Manager
PH: 617-492-1400 x4645
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MACON, Ga.--(BUSINESS WIRE)--Blue Bird Corporation (“Blue Bird” or “Company”) (Nasdaq: BLBD), the leading independent designer and manufacturer of school buses, announced today that it has appointed Matthew Stevenson as President of the Company, effective July 1, 2021. Mr. Stevenson is expected to succeed Philip Horlock as Chief Executive Officer (“CEO”), who has elected to retire from the Company, no later than November 1, 2021.
With the July 1 leadership change, Mr. Horlock, President and CEO since April 2011, will step down as President but will continue as CEO until Mr. Stevenson’s planned appointment to the position later this year. In addition, from January 1 to December 31, 2022, Mr. Horlock will assume a senior-advisor role in a consulting capacity for Mr. Stevenson and the Company and remain a Director until his term ends in 2023. These actions and timing allow for a smooth transition for the leadership change.
The Company also announced that Tom Roberts, its Chief Administrative Officer since 2016, will retire on October 31, 2021 and will not be replaced.
“We are excited to welcome Matt to the Blue Bird Team," said Kevin Penn, Chairman of the Board of Blue Bird Corporation. “Matt has a strong background as a business leader who drives growth and profitability, and with his extensive commercial-vehicle experience, he is a great fit for Blue Bird. Under Phil’s leadership, Blue Bird grew sales from $550 million to over $1 billion, delivered more than 10 points of market share growth, established itself as the unquestioned industry leader in alternative-fuel powered buses and became a publicly traded company in 2015. In addition, Phil’s strong commitment to recruiting key senior leadership has strengthened our ability to build on our recent success. The Board looks forward to Phil’s continued contribution to the Company and on the Board.”
Earlier in his 20-plus year career, Mr. Stevenson held various leadership roles in the commercial vehicle industry, including President and General Manager of Meritor WABCO and executive positions at Bridgestone Americas, Inc., Meritor, Inc., and Daimler Trucks North America, LLC. More recently, Mr. Stevenson served in various capacities including as an independent advisor for the public company Hyliion, Inc., a commercial electric powertrain provider, and was the founder of National Pool Partners GP, Inc. Prior to that, he was President of Terminix Residential, the largest subsidiary of ServiceMaster Global Holdings, Inc., a Fortune 1000 Company.
Mr. Stevenson has a Bachelor’s of Science in Management with a concentration in Marketing from Kettering University. He also has a Master of Business Administration from the Ross School of Business at University of Michigan.
About Blue Bird Corporation
Blue Bird is the leading independent designer and manufacturer of school buses, with more than 550,000 buses sold since its formation in 1927 and approximately 180,000 buses in operation today. Blue Bird’s longevity and reputation in the school bus industry have made it an iconic American brand. Blue Bird distinguishes itself from its principal competitors by its singular focus on the design, engineering, manufacture and sale of school buses and related parts. As the only manufacturer of chassis and body production specifically designed for school bus applications, Blue Bird is recognized as an industry leader for school bus innovation, safety, product quality/reliability/durability, operating costs and drivability. In addition, Blue Bird is the market leader in alternative fuel applications with its propane-powered, gasoline-powered and compressed natural gas-powered school buses. Blue Bird manufactures school buses at two facilities in Fort Valley, Georgia. Its Micro Bird joint venture operates a manufacturing facility in Drummondville, Quebec, Canada. Service and after-market parts are distributed from Blue Bird’s parts distribution center located in Delaware, Ohio.
Mark Benfield
Profitability & Investor Relations
Blue Bird Corporation
(478)822-2315
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The supply chain solutions expert has brought its net CO2 emissions to zero, a significant step towards 2025 sustainability targets
ALPHARETTA, Ga.--(BUSINESS WIRE)--Brambles, the global supply chain solutions company operating in 60 countries through the CHEP brand, announced in Sept. 2020 the successful completion of its five-year sustainability program and the launch of an even more ambitious one, aimed at pioneering regenerative supply chains. This new program includes the commitment to a 1.5°C degree climate future aligned with the Paris Agreement and a science-based carbon emissions target for its supply chain.
As part of this objective, Brambles is pleased to announce it has become carbon neutral in all operations. This means the company’s net CO2 emissions have been brought down to zero across the scope 1 (direct emissions generated from the burning of fuel) and scope 2 (indirect emissions resulting from the production of electricity that is purchased) of the standardized Greenhouse Gas (GHG) Protocol.
Becoming carbon neutral in scopes 1 and 2 is the first step toward the ambitious and more challenging decarbonization of Brambles’ entire supply chain, which would involve also the emissions generated by subcontractors’ operations (scope 3). To do so, the company will set a science-based Target1 for emissions in its direct control and supply chain.
“I could not be prouder of this milestone,” Brambles’ CEO, Graham Chipchase, says. “But the work does not stop here. The real challenge lies ahead of us in advocating for our customers and suppliers to become carbon neutral in their operations, too. We will extend and build new partnerships with them to leverage the circular economy with the best available low and zero-carbon products and services to decarbonize our entire supply chain.”
Carbon compensation and renewal energy
As a pioneer of the circular economy, Brambles has reduced carbon emissions for over 70 years, including a significant reduction between 2015 and 2020., Despite the company’s leadership position in carbon emissions, reaching net zero emissions can only be achieved with the help of carbon compensation initiatives. That’s why Brambles has now offset the remaining emissions that can’t be eliminated by investing in reforestation projects, such as the rehabilitation of degraded grasslands in Uruguay through reforestation, which generates high quality Verified Carbon Standard (VCS)-certified carbon credits.
Moreover, Brambles recently joined the World Economic Forum’s 1t.Org Corporate Alliance, a cross-industry community of companies aimed at conserving, restoring and growing 1 trillion trees by 2030.
Another key driver to bring net emissions down to zero is by purchasing renewable energy. Over recent years, Brambles has made great efforts to directly purchase renewable electricity in many of its regions, and achieved over 70% of its energy from renewable sources in 2020. For the remaining energy, the company purchases Energy Attribute Certificates (EACs) across the globe. These certificates verify that a certain number of megawatt-hours of electricity were generated and fed into the grid from renewable sources.
Notes to editors
Learn more about Brambles’ 2025 sustainability targets on: https://brambles.com/2025-sustainability-targets
About Brambles Limited (ASX:BXB)
Brambles helps move more goods to more people, in more places than any other organization on earth. Its pallets and containers form the invisible backbone of the global supply chain and the world’s biggest brands trust us to help them transport their goods more efficiently, sustainably and safely. As pioneers of the sharing economy, Brambles created one of the world's most sustainable logistics businesses through the share and reuse of its platforms under a model known as ‘pooling’. Brambles primarily serves the fast-moving consumer goods (e.g. dry food, grocery, and health and personal care), fresh produce, beverage, retail and general manufacturing industries. The Group employs approximately 12,000 people and owns approximately 330 million pallets and containers through a network of more than 750 service centers. Brambles operates in approximately 60 countries with its largest operations in North America and Western Europe. For further information, please visit www.brambles.com
1 Science-based targets show companies how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent climate change.
Sean O’Sullivan
Vice President, Investor Relations
+61 2 9256 5262
+61 412 139 711
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Raluca Chiriacescu
Director, Investor Relations
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Víctor Collado
Director, Corporate Communications
Europe, Africa, India & Middle East
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AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has received a limited notice to proceed for a new-build waste-to-energy project in Europe as it finalizes terms for a $24 million contract with its customer. B&W Renewable anticipates a full notice to proceed later this year.
Under the limited notice to proceed, B&W Renewable has begun engineering on its best-in-class renewable energy technology – including a boiler, combustion equipment and DynaGrate® combustion grate – to process municipal waste to produce electricity while controlling environmental emissions and eliminating harmful landfill methane emissions.
“The market for clean, renewable energy in Europe is extremely strong, and we’re pleased to expand beyond our already large base of DynaGrate customers in the U.K. and Scandinavia with this new-build installation,” said B&W Chief Operating Officer Jimmy Morgan. “B&W Renewable’s waste-to-energy technologies allow our customers to turn municipal waste that would otherwise end up in a landfill into a clean, baseload power-producing asset, while reducing greenhouse gas and other emissions.”
“By diverting municipal waste from landfills, we reduce the associated environmental impacts caused by burying trash – including water pollution, odors and emissions of the potent greenhouse gas methane, which is produced when biological waste decomposes,” Morgan said. “Waste-to-energy is also fully complementary to recycling programs, beneficially using waste that otherwise couldn’t be recycled.”
B&W announced an expansion of its presence in Europe in September 2020, as it looks to capitalize on an estimated addressable market of more than $7 billion in the region over the next three years.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.
About B&W Renewable
Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable’s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a limited notice to proceed on a waste-to-energy project in Europe and the anticipated date for a contract award and its intention to capitalize on an estimated addressable market of more than $7 billion in the region over the next three years. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
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IHS Markit 10-year forecast expects oil sands production in 2030 to be 3.6 million barrels per day, well above current level, but lower than prior projections
CALGARY, Alberta--(BUSINESS WIRE)--Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. However, lingering COVID impacts, pipeline constraints and uncertainties related to an accelerating energy transition have reduced the longer-term growth projection for oil sands.
The latest forecast by the IHS Markit Oil Sands Dialogue expects Canadian oil sands production to reach 3.6 million barrels per day (MMbd) in 2030, an increase of 650,000 barrels per day compared to 2021 levels (900,000 b/d from 2020). The previous IHS Markit forecast expected production to reach 3.8 MMbd in 2030.
“Canadian oil sands production recovered rapidly to exceed pre-pandemic levels by the end of 2020 and the outlook for longer-term growth remains substantial,” said Kevin Birn, vice president and head of Canadian oil market, IHS Markit. “Nevertheless, lingering impacts from the “COVID-19 Shock,” delays to critical transportation infrastructure, and rising energy transition pressures have trimmed that growth outlook from previous estimates.”
Even prior to the pandemic, IHS Markit expected the coming decade to be one of sustained-but-slower growth for the oil sands, with transportation constraints such as a lack of adequate pipeline capacity and the resulting sense of price insecurity in western Canada weighing on new large-scale incremental investments.
“Although oil prices have rebounded and even exceeded pre-pandemic levels, producers are prioritizing rebuilding their balance sheets, paying down debt and returning cash to shareholders,” said Birn. “These trends, which will delay a rise in upstream spending in the oil sands, factored into the reduction in the IHS Markit long-term growth expectation.”
The recent cancellation of the Keystone XL pipeline is not expected to carry an immediate impact on the latest IHS Markit outlook. However, pipelines continue to be a source of uncertainty that factors into the overall outlook. If Enbridge Line 3 and Trans Mountain pipeline, as well as other announced optimizations, are able to proceed as planned pipeline export capacity may be adequate to keep the market balance. However, in the absence of Keystone XL pipeline, there is the potential for high levels of export pipeline utilization which would leave little room to absorb any system upsets and could contribute to regional price volatility.
While the economics of existing oil sands operations will continue to prove attractive and resilient, uncertainties about the pace of energy transition and future demand factored into the new IHS Markit outlook. Although the industry has driven down the price at which new thermal oil sands projects can breakeven into a range similar to that of U.S. shale, the longer lead times and greater upfront out-of-pocket expense required to bring new oil sands projects online are likely to disincentivize new oil sands projects compared to shorter-cycle shale.
However, less emphasis on longer lead time, more capital-intensive new projects suggests that the outlook for oil sands is also increasingly resilient. More than 80% of the growth in the new IHS Markit outlook is expected to come from the ramp-up, optimization and completion of projects where some capital has already been invested. Nearly two-thirds alone is expected to come from just the ramp-up of existing operations.
IHS Markit believes there is potential for higher production principally from debottlenecking and optimization projects of existing operations. These improvements have significant advantages such as much shorter development cycles, more modest capital requirements, and can often lower operating cost while increasing output. Some possible optimizations being developed—such as the deployment of solvents that can reduce the steam intensity of thermal operations—have the potential to support higher levels of output with little to negligible levels of absolute GHG emissions.
“Still, there is also upside potential to our current outlook,” said Celina Hwang, director, North American crude oil markets, IHS Markit. “The flat, no decline aspect of oil sands assets means that existing operations provide a stable platform where growth can be more readily achieved. A greater degree of project debottlenecking and optimizations than currently anticipated could provide that growth, especially since those types of improvements tend to emerge organically from learning by doing or operating.”
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2021 IHS Markit Ltd. All rights reserved.
Jeff Marn
IHS Markit
+1 202 463 8213
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Press Team
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June 29, 2021 at 9:30 a.m. EST; Ceremony in Celebration of Becoming a Public Company
ALISO VIEJO, Calif.--(BUSINESS WIRE)--indie Semiconductor (Nasdaq: INDI), an Autotech solutions innovator, today announced that it will be ringing the opening bell on the Nasdaq Stock Market in celebration of its public listing after the successful completion of its recent business combination with Thunder Bridge Acquisition II, Ltd. The market opening ceremony will occur on Tuesday, June 29, 2021 at 9:30 a.m. EST and can be viewed live at indie Nasdaq Bell Ringing.
A replay of the ceremony will be available at a later date on the Company’s website at: investors.indiesemi.com. Donald McClymont, indie’s Co-founder and CEO, will be joined by members of the indie team for the ceremony.
“It is a privilege to mark the beginning of our journey as a public company by ringing the Nasdaq bell,” said McClymont. “We couldn’t be more excited about our future and how our highly innovative semiconductor solutions come precisely at a time when there is a dramatic shift occurring in the automotive industry towards highly integrated and efficient platforms. With partnerships across leading Tier 1 and OEM customers, a proven track record of having shipped over 100 million units and a talented global team, we look forward to delivering and exceeding what our customers demand, and in turn creating long term shareholder value.”
On June 10, 2021, indie announced it had completed its business combination with Thunder Bridge Acquisition II.
About indie
indie is empowering the Autotech revolution with next generation automotive semiconductors and software platforms. We focus on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms we rely on every day. We are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs around the world. Headquartered in Aliso Viejo, CA, indie has design centers and sales offices in Austin, TX; Boston, MA; Detroit, MI; San Francisco and San Jose, CA; Budapest, Hungary; Dresden, Germany; Edinburgh, Scotland and several locations throughout China.
Please visit us at www.indiesemi.com to learn more.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding our future operating results and prospects, and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. In addition to factors previously disclosed in Thunder Bridge Acquisition II’s reports filed with the SEC (including those identified under “Risk Factors” therein) and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our ability to develop, market and gain acceptance for new products; the availability of semiconductors and manufacturing capacity; competitive products and pricing pressures, our ability to win competitive bid selection processes; and economic instability in our target markets. indie cautions that the foregoing list of factors is not exclusive.
All information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication except as required by law.
#indieSemi_Corporate
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Investor Relations
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Leverages Keysight’s benchtop instruments to kick-start industrial development of biofuel cells
SANTA ROSA, Calif.--(BUSINESS WIRE)--$KEYS #IoT--Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, announced that Bioenzymatic Fuel Cells (BeFC), and innovator of bio enzymatic fuel cells, has selected and integrated multiple Keysight solutions to better understand the behavior and characteristics of biofuel cells.
BeFC is a French start-up company that offers innovative paper biofuel cells for sustainable and eco-friendly energy generation, as well as digital electronic platforms optimized for their thin and flexible fuel cells. BeFC’s technology uses biological catalysts instead of chemical or expensive noble metal catalysts to convert natural substrates such as glucose and oxygen into electricity. Their biofuel cell technology allows the eco-friendly replacement of batteries for existing applications. It creates new opportunities for low-power, ultra-thin health monitoring devices, logistics / transportation monitoring and Internet of Things (IoT) applications.
BeFC needed to kick-start the industrial development of their biofuel cells with advanced benchtop instruments that:
Keysight worked with BeFC to integrate multiple hardware and software solutions that provided BeFC with valuable insights to better understand the biofuel cells’ behavior and characteristics. The Keysight M9614A PXIe 5-channel precision source / measure unit combined with the Keysight M9005A PXIe chassis offered BeFC twenty-five independent measurement channels to use for electrochemical testing. These platforms met the test needs of BeFC by enabling higher channel density and fast throughput in a compact and affordable package.
Lisa Guildbaud, BeFC R&D engineer stated, “The Keysight PXIe multichannel platform has provided us with an affordable and efficient system for electrochemical measurements with the ability to rapidly screen novel raw materials while improving the half cells of the biofuel cells.”
“Keysight has enabled BeFC to quadruple their test throughput by using a PXIe solution with high channel density, powered by PathWave Test Automation,” stated Chris Cain, vice president of Keysight's Electronic and Industrial Products. “These capabilities enable their R&D team to conduct a variety of experiments in parallel and accelerate their time to market.”
Additional Information
A BeFC case study is available at https://www.keysight.com/us/en/assets/7121-1089/case-studies/Power-the-Future-with-Biofuel-Cells.pdf.
About Keysight Technologies
Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com
Additional information about Keysight Technologies is available in the newsroom at https://www.keysight.com/go/news and on Facebook, LinkedIn, Twitter and YouTube.
Geri Lynne LaCombe, Americas/Europe
+1 303 662 4748
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Trent River Solar Sponsored by UNFI is expected to power over 14,000 homes
PROVIDENCE, R.I.--(BUSINESS WIRE)--#ParisAgreement--United Natural Foods, Inc. (NYSE: UNFI) announced today that in collaboration with solar project developer, Pine Gates Renewables (Pine Gate) as well as U.S. Bank, it is investing in Trent River Solar, a 108.5 megawatt (MW) solar facility located in Jones County, North Carolina.
The site, which sits on 640 acres, will contain over 800,000 solar panels and create enough energy to provide power to over 14,000 homes. The solar project will support 300 local and regional jobs and is expected to be completed and placed in service later this month. UNFI will not acquire the energy created at Trent River nor the renewable energy certificates.
“We are grateful for the opportunity to sponsor Trent River Solar and are pleased to work with Pine Gate Renewables and U.S. Bank to bring this project to life to create local clean energy and jobs,” said Steven L. Spinner, Chairman and Chief Executive Officer. “UNFI has work ahead of us to reduce our emissions and we look forward to applying knowledge learned from this project to our pursuits of climate action.”
Pine Gate is a leading renewable energy company focused on project development and strategic financing of utility-scale solar and storage sites throughout the United States. It currently manages 770MW of operational assets, with more than 12GW in active development and has raised over $2 billion in project capital to date. The company’s Pine Gate Impact initiative contributes to multiple non-profit organizations aimed at improving the environment and local communities. Headquartered in Asheville, NC, Pine Gate Renewables was awarded a top spot on Inc. magazine’s Best Workplaces list in 2021, named to Fast Company’s Most Innovative Companies list in 2021, awarded the gold medal in the energy category for Inc.’s Best in Business 2020 list and ranked #6 on Inc. 500’s list of “Fastest Growing Energy Companies” in 2018.
“We’re thankful to all our partners for helping us get Trent River off the ground, and we’re proud that it will be one of the first projects to go online under Duke Energy’s competitive procurement of renewable energy (CPRE) program,” said Ben Catt, CEO of Pine Gate Renewables. “Locally, Trent River produces dozens of jobs through the construction process and ultimately it will deliver clean energy to the community.”
“We’re excited to help UNFI through this unique approach,” said Alicia Wondolowski, project manager on USBCDC’s syndications team. “Solar investments like this are a tangible way to measure reductions in carbon footprint and combat climate change, and that will have a positive impact on our environment for years to come.”
Better for All
UNFI is committed to setting a science-based emissions reduction target, reducing distribution center energy intensity, and increasing renewable electricity. For more information about our climate-related goals and strategies please visit: https://betterforall.unfi.com/.
About United Natural Foods
UNFI is North America's premier food wholesaler delivering the widest variety of products to customer locations throughout North America including natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers and food service customers. By providing this deeper 'full-store' selection and compelling brands for every aisle, UNFI is uniquely positioned to deliver great food, more choices and fresh thinking to customers everywhere. Today, UNFI is the largest publicly traded grocery distributor in the United States. To learn more about how UNFI is Moving Food Forward, visit www.unfi.com.
Investor Contact
Steve Bloomquist
952-828-4144
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The Elk Neck behind-the-meter virtual power plant project has been approved by the Maryland Public Service Commission and Sunverge will now begin this groundbreaking project.
SAN FRANCISCO--(BUSINESS WIRE)--Sunverge, the provider of an industry-leading distributed energy resource (DER) control, orchestration and aggregation platform, today announced that in collaboration with Delmarva Power, it has kicked off the innovative Elk Neck Battery Storage Pilot Program . Delmarva Power, an Exelon Company, had selected Sunverge in a competitive bid process last year. The program has now received key regulatory approvals from the Maryland Public Service Commission. Sunverge will now begin the process of acquiring participating customers in the program. It is anticipated that the project will be fully operational by Q1 2022.
“We are grateful to the Maryland Public Service Commission for their efforts to move this program forward,” said Martin Milani, CEO of Sunverge. “We are excited to partner with Delmarva Power on this groundbreaking program. This program will be an important proof point in demonstrating the value of multi-service VPPs and aggregated residential battery systems, both for the benefit of consumers and the grid. The lessons learned from this program will help guide the power industry’s efforts to fully integrate distribution energy resources and decarbonize the grid, improve local system reliability and enable participation of aggregated DERs in wholesale markets.”
The program will provide back-up power to residents of Elk Neck, Md. In addition, the pilot program will provide multiple grid services to increase overall grid reliability, system integration of DERs, and participate in the PJM wholesale electricity market for ancillary services. The project is planned to have 0.55 MW / 2.2 MWh capacity.
“We are committed to providing the best possible service for our customers,” said Gary Stockbridge, Delmarva Power region president. “That means using innovative technologies to solve difficult challenges. In Elk Neck, the area’s unique geography makes our customers more vulnerable to power outages. By partnering with Sunverge to deploy Sunverge’s DER control, orchestration and aggregation platform with battery storage systems, we can increase the grid’s reliability, enhance resiliency during powerful storms and demonstrate how state-of-the-art technology can improve service for both our customers and the grid.”
About Delmarva Power
Delmarva Power is a unit of Exelon Corporation (Nasdaq: EXC), the nation’s leading energy provider, with approximately 10 million customers. Delmarva Power provides safe and reliable energy service to approximately 532,000 electric customers in Delaware and Maryland and approximately 136,000 natural gas customers in northern Delaware.
About Sunverge
Sunverge Energy provides the leading open dynamic platform for Virtual Power Plants (VPP), a grid-aware and dynamic power source built from the aggregation of behind-the-meter DERs (distributed energy resources). The Sunverge real time DER control and aggregation platform is unique in providing dynamic multi-objective optimization of services on both sides of the meter, helping customers with intelligent management of their own renewable energy generation and utilities with greater flexibility in managing their infrastructure investments, reducing generation costs, increasing system reliability, and meeting their renewable energy goals. Together with the Sunverge Infinity edge controller, the Sunverge VPP platform provides intelligent dynamic near real-time control over decentralized energy resources that is efficient, reliable, and responsive to utilities and their customers. For more information please visit http://www.sunverge.com/
Media:
Jared Blanton
Antenna
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415.712.1417
MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--CN (TSX: CNR) (NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that Dr. William Huneke, the former Director of the Office of Economics and Chief Economist at the Surface Transportation Board (“STB”) has written an op-ed, which was published by Railway Age. In the op-ed, Huneke emphasizes the pro-competitive benefits of a CN/KCS combination, resulting from the companies’ commitment to keep gateways open on commercially reasonable terms. Huneke also points out that, for these benefits to be realized, the CN voting trust must be approved by the STB. The full text of the op-ed can be found below:
CN Open Gateways Offer Means New, Enhanced Rail-To-Rail Competition, but STB Must First Approve the CN/KCS Voting Trust
Written by Dr. William Huneke
Canadian National Railway Company’s (CN) offer to keep gateways open on commercially reasonable terms is not getting the attention that it is due. This offer is a key part of its proposal to combine with Kansas City Southern (KCS)—a transaction which significantly enhances competition.
CN’s open gateways offer is a big deal. It means new, enhanced rail-to-rail competition. But for this to even be considered, the STB must first approve the CN/KCS voting trust.
I was STB’s chief economist for 10 years, and I am surprised by the lack of attention to the open gateways commitment. This commitment ensures that shippers who today enjoy competitive joint line routings with either CN or KCS will continue to have those routings available to them in a post CN/KCS merger environment, even if a merged CN/KCS could handle the entire movement via a single-line routing. This means continued competition and we know that competition encourages lower rates, better service and innovation.
The commitment is not just about maintaining physical routings, but also about ensuring that the routings are commercially reasonable to the shipper. What is meant by “open on commercially reasonable terms”? This means all market participants, railroads and shippers will benefit: they will get a fair chance to compete. They will pay and receive remunerative rates and get efficient service. If a shipper is not happy with their service, they can switch to another carrier because they will still have a choice.
A CN/KCS combination will create a strong new rail-to-rail competitor that will provide new single-line rail movements in competition with other rail carriers. In addition, with the gateway commitment, shippers will also have the option to use an existing routing or other routings involving more than just the merged CN/KCS.
Single-line hauls have long been a strong benefit of rail mergers because they are more efficient, eliminate costly and time-consuming handlings, and often create better routes. In the past, there was concern that such new single-line combinations might result in closing such gateways and preventing shippers from using routes involving multiple railroads. This is why CN-KCS’s offer to protect existing gateways commercially is a gamechanger.
The STB (and its predecessor, the Interstate Commerce Commission) used to impose rigid gateway protection in order to protect a shipper from losing alternative service in a rail merger. For more than three decades the ICC imposed so-called DT&I conditions. Those conditions required the merged railroad to preserve the gateway and “to maintain and keep open all routes and channels of trade via existing junctions and gateways” between it and another railroad that connected at that gateway. It also imposed a “rate equalization” condition, which froze rates.
In other words, in addition to the single-line service that the merged railroad could offer, the imposition of the DT&I conditions kept another option in play because the merged railroad could move the freight to the gateway and hand it off to another road. That multi-railroad move acted as a competitive constraint to the single-line move of the merged railroad. That was a good thing.
But the rate equalization requirement (requiring equal rates to all railroads at a gateway) meant that the newly merged railroad could not reduce its own rates at the gateways to reflect its new found single-line efficiencies. This rate equalization requirement actually inhibited competition by preventing railroads from adapting to ever changing market conditions or to reduce rates depending upon the route so as to respond to the increased competition by other modes. As such, the ICC abandoned the DT&I gateway conditions and stopped imposing them. It realized that the onerous “rate equalization” feature of that condition prevented rather than enhanced competition.
CN’s gateway commitment is intended to preserve the commendable parts of the DT&I conditions, which were intended to preserve shippers’ choices, but without the anticompetitive elements of rate equalization. Keeping gateways open on commercially reasonable terms will enhance competition by supplementing the benefits of new single line routes, with the opportunity for customers to access other railroads at gateways affected by a merger. The commitment avoids the anti-competitive “rate equalization” features that doomed the prior approach in favor of one that favors flexibility, customer choice, and enhanced competition.
Besides keeping gateways open, CN and KCS have also committed to divest KCS’s 70 mile parallel rail line to CN’s rail line between Baton Rouge and New Orleans to address the minimal competitive overlap between the two networks. This too is commendable.
As a result of both the divestiture commitment in Louisiana and the gateway protection commitment, the result is a combined CN-KCS network with no competitive overlaps, commercially open gateways, and a stronger railroad able to offer new and vibrant single-line service to compete rail-to-rail with other Class I’s, especially the two dominant western railroad carriers: Union Pacific and BNSF. The merger thus allows CN/KCS, UP, and BNSF to compete across major U.S. rail gateways that include Kansas City, Chicago, New Orleans, St. Louis, and Memphis. These are the central hubs of U.S. rail commerce.
The CN-KCS merger—with its divestiture commitment and its offer to protect gateways commercially—is a huge step forward for competition. But shippers will not be able to avail themselves of either the new single-line efficiencies or the gateway commitment if the CN-KCS merger is never allowed to be considered by the STB in the first place.
For the merger to even be considered, the STB must first approve the use of a voting trust. That is why I am supporting CN’s proposal to use a voting trust and urge shippers and other interested parties to do so as well. Without the voting trust, shippers will not benefit from the pro-competitive commitments made by CN and KCS, squandering the unique opportunity to enhance competition through the gateway commitment. I support this new, enhanced competition in the rail sector and ask others to do so as well.
Dr. Huneke is former Director of the Office of Economics and Chief Economist at the Surface Transportation Board. He is now a consulting economist and provides economic advice to private sector clients. He has provided testimony and litigation advice to Class I Railroads, including to KCS, and to the American Short Line and Regional Railroads Association.
For more information on CN’s pro-competitive combination with KCS, please visit www.ConnectedContinent.com.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
About Kansas City Southern
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com
Forward Looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Additional risks that may affect KCS’ results of operations appear in Part I, Item 1A “Risks Related to KCS’s Operations and Business” of KCS’ Annual Report on Form 10-K for the year ended December 31, 2020, and in KCS’ other filings with the U.S. Securities and Exchange Commission (“SEC”).
Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
No Offer or Solicitation
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information and Where to Find It
In connection with the proposed transaction, CN will file with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed transaction. The registration statement will include a preliminary proxy statement of KCS which, when finalized, will be sent to the stockholders of KCS seeking their approval of the merger-related proposals. This news release is not a substitute for the proxy statement or registration statement or other document CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transaction.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION STATEMENT(S), TENDER OFFER STATEMENT, PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTIONS. Any definitive proxy statement(s), registration statement or prospectus(es) and other documents filed by CN and KCS (if and when available) will be mailed to stockholders of CN and/or KCS, as applicable. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. Copies of the documents filed by KCS (if and when available) will also be made available free of charge at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’s Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
Participants
This news release is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN, KCS, and certain of their directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Information about KCS’ directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. Additional information regarding the interests of such potential participants will be included in one or more registration statements, proxy statements, tender offer statements or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and from www.sedar.com, as applicable.
Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
(514) 249-4735
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Longview Communications & Public Affairs
Martin Cej
(403) 512-5730
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United States
Brunswick Group
Jonathan Doorley / Rebecca Kral
(917) 459-0419 / (917) 818-9002
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Media: KCS
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
(816) 983-1372
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Joele Frank, Wilkinson Brimmer Katcher
Tim Lynch / Ed Trissel
(212) 355-4449
Investment Community: CN
Paul Butcher
Vice-President
Investor Relations
(514) 399-0052
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Investment Community: KCS
Ashley Thorne
Vice President
Investor Relations
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
(212) 929-5748 / (212) 378-7071
DUBLIN--(BUSINESS WIRE)--The "Tunnel Detector Global Market Insights 2021, Analysis and Forecast to 2026, by Manufacturers, Regions, Technology, Application, Product Type" report has been added to ResearchAndMarkets.com's offering.
This report describes the global market size of Tunnel Detector from 2016 to 2020 and its CAGR from 2016 to 2020, and also forecasts its market size to the end of 2026 and its CAGR from 2021 to 2026.
For the geography segment, regional supply, demand, major players, price is presented from 2016 to 2026.
This report covers the following regions:
The key countries for each region are also included such as the United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil.
For the competitor segment, the report includes global key players of Tunnel Detector as well as some small players.
The information for each competitor includes:
Applications Segment:
Types Segment:
Companies Covered:
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
5.6 Covid-19 Impact
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Tunnel Detector Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Tunnel Detector by Region
8.2 Import of Tunnel Detector by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Tunnel Detector Market in North America (2016-2026)
Chapter 10 Historical and Forecast Tunnel Detector Market in South America (2016-2026)
Chapter 11 Historical and Forecast Tunnel Detector Market in Asia & Pacific (2016-2026)
Chapter 12 Historical and Forecast Tunnel Detector Market in Europe (2016-2026)
Chapter 13 Historical and Forecast Tunnel Detector Market in MEA (2016-2026)
Chapter 14 Summary For Global Tunnel Detector Market (2016-2021)
14.1 Tunnel Detector Market Size
14.2 Tunnel Detector Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Tunnel Detector Market Forecast (2021-2026)
15.1 Tunnel Detector Market Size Forecast
15.2 Tunnel Detector Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
For more information about this report visit https://www.researchandmarkets.com/r/9hakol
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it is hosting virtual investor meetings at the J.P. Morgan Energy, Power and Renewables Conference Tuesday, June 22 and Wednesday, June 23, 2021.
The latest investor deck, which may be used to facilitate investor meetings, can be accessed under the Investors tab on the Enterprise website.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE:VLO) (“Valero”) announced today that it will host a conference call on July 29, 2021 at 10:00 a.m. ET to discuss second quarter 2021 earnings results, which will be released earlier that day, and provide an update on company operations.
Persons interested in listening to the conference call may join the webcast on Valero’s Investor Relations website at www.investorvalero.com.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and it operates 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 13 ethanol plants with a combined production capacity of approximately 1.7 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names. Please visit www.investorvalero.com for more information.
Valero Contacts
Investors:
Homer Bhullar, Vice President – Investor Relations & Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
FREDERICTON, New Brunswick--(BUSINESS WIRE)--The Nippon Foundation-GEBCO Seabed 2030 Project has entered a technical cooperation agreement with the UK Hydrographic Office (UKHO), a world-leading center for hydrography specializing in marine geospatial data, and Teledyne CARIS, the leading developer of marine mapping software and a business of Teledyne Technologies Incorporated (NYSE:TDY). The Memorandum of Understanding, announced on the first World Hydrography Day to fall within the UN Decade of Ocean Science for Sustainable Development, will see the parties work together to advance the effort associated with producing the definitive map of the seafloor by the year 2030.
The announcement also coincides with the release of the latest GEBCO Grid figure, with 20.6% of the world’s entire seabed now mapped. When Seabed 2030 was launched in 2017, only 6.0% of the oceans had been mapped to modern standards. The latest figure has seen a growth of 1.6% from last year’s data, an increase equating to around half the size of the U.S.
Seabed 2030 is a collaborative project between The Nippon Foundation and GEBCO to inspire the complete mapping of the world's ocean by 2030, and to compile all bathymetric data into the freely available GEBCO Ocean Map. General Bathymetric Chart of the Oceans (GEBCO) is a joint project of the International Hydrographic Organization (IHO) and the Intergovernmental Oceanographic Commission (IOC), and is the only organization with a mandate to map the entire ocean floor.
For over 40 years, Teledyne CARIS has been the leader in the development of hydrographic and marine geospatial software. Its flagship Hydrographic Production Database (HPD) is used extensively by the UKHO to produce its charts. One of Teledyne CARIS’ newest products – CARIS Onboard360™ – is a near real-time and autonomous data acquisition and processing package.
The UK Hydrographic Office is a world-leading center for hydrography, specializing in marine geospatial data, from seabed to surface, to help others make the best use of the marine environment. This includes partnerships with governments and researchers to support the sustainable growth of the Blue Economy and the protection of our oceans. UKHO also make this data available through their portfolio of ADMIRALTY Maritime Data Solutions, which include a world-leading range of navigational products that can be found on over 90% of ships trading internationally.
“Seabed 2030 is delighted to announce this new partnership with UKHO and Teledyne CARIS on the occasion of World Hydrography Day. As we enter the newly-launched UN Decade, but also final decade of Seabed 2030, we remain humbly aware of what we have yet to achieve – just under 80% of the world’s seabed still to be mapped,” said Jamie McMichael-Phillips, Seabed 2030 Project Director. “Last year’s GEBCO Grid saw an increase of 4% – this was made possible due to significant contributions of existing bathymetric data. Whilst this year’s growth is commendable in light of the global pandemic, it should act as a testament to the value of collaborative working to achieve our end goal, which is ultimately for the benefit of humanity.
“As we enter this final stretch, we call on everybody to get involved and contribute to our efforts. Together, we can make better use of the world’s oceans in a sustainable way. I am confident we will reach our goal as international collaboration grows.”
As part of the new agreement, the three organizations will use a new AI tool developed by Teledyne CARIS and the UKHO as part of their ADMIRALTY Maritime Data Solutions portfolio. The AI-Based Bathymetry Data Noise Cleaning Capability is thought to benefit Seabed 2030 by providing processing efficiency of incoming multibeam bathymetry dataset typical of the type to be received by the Project.
“We are very pleased to be supporting this project with AI technology,” said Edwin Roks, Executive Vice President and Segment President Teledyne Digital Imaging. “Seabed 2030 represents an opportunity for a unique collaboration whereby new AI methods are being developed and delivered to help solve the data processing bottlenecks created by the huge quantities of data needed to map the world’s oceans over the next decade.”
“We are extremely excited to enter this new partnership with Teledyne CARIS and The Nippon Foundation-GEBCO Seabed 2030 Project,” said Peter Sparkes, Chief Executive at the UK Hydrographic Office. “Seabed mapping data plays a vital role in supporting maritime trade, the protection of our oceans and the fight against climate change – by keeping mariners safe and supporting sustainable development. Through use of this new capability, we hope to significantly reduce the time it takes to process this foundational data from days to hours – allowing us to build our understanding of the world’s oceans at a greater pace.
“We believe that collaborations like these can help to build a better future for all, so the UKHO will continue to build on this partnership and work with others across the maritime community to support safe, secure and thriving oceans.”
All data collected and shared with the Seabed 2030 Project is included in the GEBCO global grid, the most complete bathymetric dataset of the world’s ocean floor.
For more detailed information on The Nippon Foundation-GEBCO Seabed 2030 Project, please visit our website at seabed2030.org or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Teledyne CARIS
Teledyne CARIS is part of the Teledyne Imaging group. For 40 years, Teledyne CARIS has been the leading developer of marine mapping software. We offer a highly effective Ping-to-Chart™ solution for acquisition, near real-time processing, robust quality control of sonar data, and the creation and distribution of maps, charts, and digital datasets. Find out more about Teledyne CARIS.
About The Nippon Foundation-GEBCO Seabed 2030 Project
The Nippon Foundation-GEBCO Seabed 2030 Project is a collaborative project between The Nippon Foundation and GEBCO. The Seabed 2030 Project, launched at the United Nations Ocean Conference in 2017 by Chairman Sasakawa of The Nippon Foundation, coordinates and oversees the sourcing and compilation of bathymetric data from different parts of the world’s ocean through its five centers into the freely-available GEBCO Grid. Four Regional Centers cover the Southern Ocean, the Arctic and North Pacific Ocean, the Atlantic and Indian Oceans, and the South and West Pacific Ocean. These feed data products into the Global Data Centre. Find out more about the project and how to get involved.
About the UK Hydrographic Office
The UK Hydrographic Office is a leading center for hydrography, providing marine geospatial data to inform maritime decisions. We work with a wide range of data suppliers and partners to support maritime navigation, safety, security and marine development around the UK and worldwide. We make location-based information available through ADMIRALTY Maritime Data Solutions, our world-leading range of charts, publications and custom data sets. Our use of marine data and technology, combined with our expertise, ensures we continue to innovate and provide a wider range of solutions. We source, process and provide access to location-based information, ranging from seabed to surface. This enables our partner organizations to make critical maritime decisions – informing the sustainable use and management of the marine environment and supporting the development of the blue economy. Find out more about the UK Hydrographic Office.
Media Contact:
Jennifer Parham
Teledyne CARIS
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(905) 660-0808 ext. 3517
HALIFAX, Nova Scotia--(BUSINESS WIRE)--The Dartmouth General Hospital Foundation is pleased to announce that Emera has donated $65,000 to support the PLANS (Promoting Leadership in Health for African Nova Scotians) Youth Employment Strategy and African Nova Scotian COVID-19 health research projects. This gift is funded through the Emera Inclusion and Diversity Fund, announced earlier this year.
“Emera’s support will allow a second cohort of students to take part in Dalhousie University’s PLANS program. We remain in close contact with the first cohort of students, so we can see the incredible impact this program is having on their lives and their studies,” says Stephen Harding, President & CEO of the Dartmouth General Hospital Foundation. “Emera’s contribution is also funding important research that will inform best medical practices and improve culturally appropriate public health responses to COVID-19 care for African Nova Scotian communities.”
PLANS is focused on increasing the representation of African Nova Scotians in the health professions through programming, including mentorships and camp programs, and resources, such as health program and career information. As part of the program, PLANS representatives attend community and school events to provide health career preparation and support to youth, community members, current post-secondary students, teachers/student support workers, guidance counsellors, and post-secondary staff and faculty. The program is delivered in collaboration with Dalhousie University’s Faculties of Health, Dentistry, and Medicine. Emera’s donation will also support three African Nova Scotian COVID-19-focused health research projects, that will provide additional knowledge, skills and resources to prepare for future outbreaks.
“Our Emera Inclusion & Diversity Fund is one way we help build stronger, more diverse and inclusive communities,” says Mike Roberts, Emera’s Chief Human Resources Officer. “We’re proud to support organizations like Dartmouth General Hospital Foundation that are creating positive change through their programs and research.”
Through the Emera Inclusion and Diversity Fund, Emera and its operating companies are investing a minimum of $5 million over the next five years in programs and initiatives that advance and promote diversity, help to remove barriers and support education and awareness. The fund is part of Emera’s Community Investment Program, which is focused on helping build safer, stronger and more innovative communities. The fund is also reflective of Emera’s journey towards an inclusive and diverse culture, supported by active inclusion and diversity employee networks across the organization.
For more information about Emera’s Inclusion & Diversity Fund and how to apply for funding, please visit: https://www.emera.com/community
About Emera:
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H and EMA.PR.J. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
About Dartmouth General Hospital Foundation:
Today and since its inception in 1975, the Dartmouth General Hospital Foundation (DGHF) has been a driving force in connecting community and hospital. Through the tremendous generosity of community, friends and partners, the DGHF has positively impacted and supported the delivery of exceptional patient care at the Dartmouth General Hospital through more than $42 million dollars invested in equipment, facilities and programs. Learn more about the DGHF: www.dghfoundation.ca
Media Contact:
Emera Inc.
Dina Bartolacci-Seely
902-478-0080
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Media Contact:
Dartmouth General Hospital Foundation
Kiana Pace
902-460-6777 | 902-266-6428
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a three-year contract with North Oil Company offshore Qatar for VALARIS JU-110, a heavy-duty modern jackup. The contract is anticipated to begin in the fourth quarter of 2021.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
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